WEDNESDAY 31TH AUGUST 2022 by THISDAY Newspapers Ltd

Atiku: I’ll Consider National Unity Govt If Elected, to Douse Tension, Unite Nigerians Berates APC administration over increasing debt burden Chuks Okocha in Abuja and Ibrahim Shuaibu in Kano

Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday, disclosed

that he might consider a government of national unity if elected president next year. He said this

was to help douse tension and unite the Nigerian people. The former vice president

revealed this in a statement he personally signed. Atiku criticised the All Progres-

sives Congress (APC) federal Continued on page 12

Buhari: I’ll Not Allow Any Politician Intimidate Nigerians With Personal Resources in 2023... Page 46 Wednesday 31 August, 2022 Vol 27. No 10004. Price: N250

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Ex-Soviet Union President, Gorbachev, Dies at 91... Page 20

Kyari: Nigeria Will Stop Importing Petroleum Products By Mid-2023 Says Dangote Refinery to commence petrol production with 50m litres per day capacity Alleges churches, mosques now store stolen crude oil Peter Uzoho The Group Chief Executive Officer (GCEO) of the Nigerian National

Petroleum Company (NNPC) Limited, Mallam Mele Kyari, yesterday said the country would end importation of petroleum

products by June 2023. He also said the Lagos-based 650,000 barrels per day Dangote Refinery under construction would

start producing petrol by the middle of next year, with a capacity of 50 million litres daily. Kyari made the assertions

yesterday during a media briefing at the State House, Abuja, noting that the combination of outputs from the Dangote refinery and

the national oil company's four refineries would, “eliminate any Continued on page 12

In Major Crowdfunding, Nigerians in Diaspora Move to Raise $150m, N100bn for Obi’s Campaign Labour Party candidate pledges to cut cost of governance, commitment to transparency, accountability

Continued on page 12

TINUBU, SHETTIMA, APC GOVS VISIT JONATHAN: WHAT ARE THEY COOKING AGAIN?... L-R: Ogun State Governor, Dapo Abiodun; All Progressives Congress Vice Presidential Candidate, Senator Kashim Shettima; the party's presidential candidate, ,Mr. Bola Tinubu; former President Goodluck Jonathan; Zamfara State Governor, Bello Matawalle; Governor Abubakar Badaru of Jigawa State; Plateau State Governor and Director-General of Tinubu/Shettima Campaign Organisation, Simon Lalong, and Governor Abdulrahman AbdulRazaq of Kwara State, when Tinubu led APC chieftains on a courtesy visit to the former president in Abuja....yesterday

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

NEWS

ANYAOKU PAYS CONDOLENCE VISIT TO OBAIGBENA... L-R: Chairman, Editor-in-Chief THISDAY/ARISE Group, Prince Nduka Obaigbena and former Commonwealth Secretary-General, Chief Emeka Anyaoku, during Anyaoku's condolence visit to Obaigbena PHOTO: KUNLE OGUNFUYI. over the death of his mother, Princess Margaret Obaigbena in Lagos ... yesterday

FG Inaugurates Gas Infrastructure Fund, Says $200bn Needed to Bridge Deficit Emmanuel Addeh in Abuja The federal government yesterday formally floated the governing council of the Midstream & Downstream Gas Infrastructure Fund (MDGIF) in line with the dictates of the new Petroleum Industry Act (PIA). The government stated that over $20 billion will be needed yearly in the next 10 years to bridge the gas infrastructure gap in the country,

which could exceed $200 billion in a decade. At the inauguration of the ninemember council, which took place in Abuja, the Minister of State for Petroleum Resources, Chief Timipre Sylva, explained that the move would help fix the critical missing link in the government's effort to develop the country’s gas sector. He charged the new members to work to mobilise funds for the provision of the critical infrastruc-

ture for the gas subsector. Sylva said the inauguration of the council was a further demonstration of the commitment of President Muhammadu Buhari to reposition the nation’s energy sector “to drive economic development and prosperity for our people, our nation and value to our partners, in accordance with the Petroleum Industry Act 2021 (PIA)”. In March 2021, Buhari had declared January 1, 2021 to

December 31, 2030 as “The Decade of Gas" development for Nigeria, primarily to set the roadmap towards a gas-powered economy by 2030. Sylva noted that although the federal government had put in place several programmes towards achieving the decade of gas initiative and developing the huge gas potential of the country, the missing link was the absence of the basic gas infrastructure to

NCDMB, SON, OGFZA Top 2022 Presidential Enabling Business Compliance List Emmanuel Addeh in Abuja The Presidential Enabling Business Environment Council (PEBEC) has released its 2021/2022 Executive Order 001 (EO1) Compliance Report, with five Nigerian organisations emerging tops. A statement signed by the Special Adviser to the President, Ease of Doing Business and PEBEC Secretary, Dr Jumoke Oduwole, said that after a careful evaluation, the secretariat arrived at the winners for the period under review. PEBEC was established in July 2016 by President Muhammadu Buhari to remove critical bottlenecks and bureaucratic constraints to doing business in Nigeria. Vice President, Yemi Osinbajo chairs the council. The overall top performing Ministries, Departments and Agencies (MDAs) during the period included the Nigerian Content Development and Monitoring Board (NCDMB) which emerged first with 81.48 per cent and the Standards Organisation of Nigeria (SON) which came second with 77.38 per cent. Others were: The Oil & Gas Free Zones Authority (OGFZA) which emerged third with 75.80 per cent, the Nigerian Export Promotion Council (NEPC) which

came fourth with 69.04 per cent and Federal Competition and Consumer Protection Commission (FCCPC) which emerged 5th with 68.37 per cent. Oduwole, noted that it was in keeping with its promise to track the ongoing compliance with the executive order on the promotion of transparency and efficiency in the Nigerian business environment and to routinely document the impact of the PEBEC reform agenda. "On May 18, 2017, the administration issued its first Executive Order, Executive Order 001 (EO1) on Transparency and Efficiency in the Business Environment. The Order is designed to strengthen the implementation of business climate reforms and to deepen collaboration among ministries, departments, and agencies by instituting a systemic change management process for reforms. “EO1 mandates MDAs to submit monthly reports to the PEBEC Secretariat, the offices of the Head of Service (HoS) of the Federation, the Secretary to the Government of the Federation (SGF), and SERVICOM. "Over the last five years, the PEBEC has consistently published an EO1 Compliance Report, which presents an empirical analysis of

the monthly reports submitted by MDAs,” Oduwole stated. The statement said that an MDA’s overall performance rating combines scores on efficiency and transparency measures at a ratio of 70 per cent and 30 per cent respectively. According to the statement, the efficiency measures an MDA’s compliance to service delivery timelines as well as compliance with the “default approval and one government directives of the EO1”. In addition, it stressed that transparency is measured based on the existence of an updated

website, an interactive online service portal, a detailed content of services, timelines, costs, statutory requirements, and customer service contact details. "The latest E01 Compliance Report spans the period from July 2021 to June 2022. The result of the assessment shows that the overall top five performing MDAs during this period are the NCDMB which emerged first at 81.48 per cent. “ Also on the list are the SON (2nd, 77.38 per cent); OGFZA (3rd, 75.80 per cent); NEPC (4th, 69.04 per cent); and FCCPC (5th, 68.37 per cent).

help realise the objective. He added that a key cause of poor gas production, gas flaring and low domestic gas utilisation was the gas infrastructure deficit in the country. "It is estimated that more than $20 billion yearly will be required over the next 10 years to bridge these gaps," the minister explained. The fund, established under Section 52 of the PIA, resides as a directorate in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). As a directorate within the Authority, the minister said the fund would be expected to benefit from its internal reporting as well as operational and organisational processes, adding that in accordance with the PIA, 2021, the council shall supervise and make investment decisions for the fund. The minister urged the members of the council not to take their responsibilities lightly, stressing that urgent steps needed to be taken to bring gas infrastructure closer to the Nigerian people to enable them benefit from government policy in that regard. The composition of the council, according to the minister, was carefully done in view of the importance of gas to the growth

and development of the economy. “The midstream and downstream sector is where the jobs could be created and value added to the economy,” Sylva said, urging the council members to take their assignment seriously. "There is an urgent need to focus on the major strategic plans and key initiatives to enable government set a clear trajectory to achieving the noble objectives of establishing the fund,” he added. The terms of reference of the council, he said , include identifying critical and relevant stakeholders that can increase domestic utilisation of natural gas, LPG and auto gas, and develop a roadmap for transforming gas to a value adding product in Nigeria. The council has the minister of state petroleum resources as chairman and the executive director of MDGIF as chief executive officer. Other members of the Council include: Dr Scholastica Nnaji, representing the Central Bank of Nigeria (CBN); Mr Victor Omata, representing Federal Ministry of Finance and Farouk Ahmed , Chief Executive of the NMDPRA. Others are: Mr Ahmed Bobboi, Abdullahi Bukar and Mr Effiong Abia, while the Legal Adviser, NMDPRA will serve as the Secretary to the Council.

Osinbajo to APC Govs: We Need to Act Fast on Economy, ASUU Strike Deji Elumoye in Abuja The Vice President, Prof. Yemi Osinbajo has reflected on current developments in the country and declared that there was the urgent need for the federal government to act fast on the nation's economy and the six month old strike of the Academic Staff Union of Universities (ASUU) which was extended indefinitely by the union on Monday. Osinbajo, who is just recovering from knee surgery he underwent last month in a private hospital in Ikeja, Lagos, spoke yesterday, while

receiving some All Progressives Congress (APC) Governors who came to solidarise with him at the State House, Abuja. During the brief interaction that followed at the meeting, important national issues were also raised especially regarding the economy and the ASUU strike. The vice president and the governors then agreed to engage these and other pressing issues further with a view to bringing urgent resolution for the benefit of the Nigerian people. According to the vice president,

"we all need to work together on these critical issues. We need to think through things, and we need to do it fast." Speaking while welcoming the Governors led by the Chairman of Progressive Governors Forum (PGF), of Kebbi State, Osinbajo expressed appreciation for the visit and the good wishes. He also commended the expertise of Nigerian doctors, and the availability of cutting-edge medical facilities existing in the country but regretted that doctors are restrained by regulations from advertising and

as a result many people are unaware of the level of quality medical services available locally. Present at the meeting were the Chairman of the Nigeria Governors Forum (NGF), Dr. Kayode Fayemi of Ekiti State; Governors Simon Lalong of Plateau State; Babajide Sanwo-Olu of Lagos State; Muhammad Badaru Abubakar of Jigawa State; Abdulrahman Abdulrazaq of Kwara; Abubakar Sani Bello of Niger State; Dapo Abiodun of Ogun State; Abdullahi Sule of Nasarawa, and the deputy governor of Ebonyi State, Kelechi Igwe.

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NEWS

SIGNING OF AGREEMENT FOR PROMOTING INVESTMENTS IN KANO... L-R: Commissioner of Commerce, Industry and Solid Minerals of Kano State, Dr. Ibrahim Mukhtar; National Secretary of All Progressives Congress (APC), Senator Iyiola Omisore; Ambassador of People's Republic of China to Nigeria, CUI Jianchun; APC Women Leader, Betta Edu; Minister of Industry, Trade and Investment, Niyi Adebayo and Directing Oﬃcer of Chinese embassy in Nigeria, Mr. Wu Baocai, and Governor of Kano State, Dr. Abdullahi Umar Ganduje signing of agreement for promoting investments and other businesses between Kano State Government and Fujian Province of People's Republic of China, at Abuja…yesterday

FG Declares War on Pipeline Vandals, Oil Thieves Unveils eight gunboats Blessing Ibunge in Port Harcourt and Michael Olugbode in Abuja The federal government yesterday vowed to bring down its might on vandals and oil thieves who are sabotaging the nation’s economy. The Minister of Interior, Mr. Rauf Aregbesola, made the declaration at the inauguration of eight gunboats acquired for use by the Nigeria Security and Civil Defence Corps (NSCDC) in Port Harcourt, Rivers State, just as he charged the security forces to collaborate to end the scourge. He said: "Those who steal crude oil not only deny the country of the much needed revenue, they sell the stolen goods at discounted prices, well below the market value. “This black market creates a glut and forces down the official price. They have therefore made Nigeria to suffer the double jeopardy of loss in revenue and drop in value of the product. “President Muhammadu Buhari, has given us the resources and the marching order to take the war to them. As a step in this direction, the Federal Government is taking adequate steps to equip relevant

security agencies and, by extension, the NSCDC, which is the lead agency in the protection of critical national assets and infrastructure." According to the minister, the government was not oblivious of the dangers crude oil theft portends for the country, noting that the value of such theft is estimated to be in billions of dollars. “In the latest estimate, billions of dollars are lost to oil thieves and vandals. There is no gainsaying the fact that the federal government is committed and determined to curb the menace of oil theft which is bleeding the economy mindlessly, a development which has led to a drop in the earnings of the government. “This unhealthy development has equally led to environmental pollution and other health hazards recorded in places where crude and refined products have been unleashed on the environment from broken pipes. “Government is not oblivious of the danger the above scenario poses to national security and socio-economic development. No responsible government would sit down helplessly and watch this reckless display of brigandage by

a few unpatriotic and criminally minded individuals who put personal interest above any other consideration,” Aregbesola said. Speaking at the event, the Commandant General of the NSCDC, Abubakar Audi, declared the Corps’ readiness to put an end to pipeline vandalism and pillaging of the nation’s resources. He said: "Let me use this medium to assure the federal government and the good people of this great country, that the Corps is determined more than ever before and fully committed to the war against oil theft and illegal oil bunkering and will therefore make judicious use of

this operational equipment to take the war to the doorstep of these economic brigands and saboteurs. “I have directed continued strengthening of effective synergy with the military, relevant sister agencies as well as other stakeholders in our avowed commitment to checkmate the ugly trend,” the Commandant General stated. He affirmed that a marching order has been issued to all Zonal Commanders, State Commandants and Heads of Antivandal Unit across formations to be battle ready with a renewed vigour to stamp out oil theft and pipeline vandalism in the nation. The CG reiterated the Corps'

determination and unwavering commitment to the war against illegal oil bunkering and assured the government and the entire nation that the gunboats would be distributed to states in the coastal region as the corps continue to collaborate with the military and other security agencies. He enjoined Nigerians to assist security agencies in winning the war against the enemies of the nation by volunteering credible intelligence and information that could lead to possible arrest and prosecution of oil pipeline vandals and saboteurs of the nation's economy. Also speaking at the event, the

Fidelity Bank Gets CBN’s Approval to Acquire Union Bank UK Nume Ekeghe and Kayode Tokede Fidelity Bank Plc has announced it has commenced its proposed acquisition of Union Bank UK, as part of its expansion plans. Fidelity Bank in a regulatory filing issued on the Nigerian Exchange Limited yesterday stated

that it had entered into a binding agreement for the acquisition of 100 per cent equity stake in Union Bank United Kingdom Limited, for which the Central Bank of Nigeria has issued a letter of “No Objection”. The transaction is however subject to the approval of the

United Kingdom’s Prudential Regulatory Authority (PRA). Commenting on the transaction, Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe stated: “This transaction aligns with our strategic plan of expanding our service touchpoints beyond the

FG Launches Presidential Delivery Tracker to Monitor Ministries’ Performances Olawale Ajimotokan in Abuja The federal government has launched the Presidential Delivery Tracker as well as a website developed by the Central Delivery Coordination Unit (CDCU) to track, review and periodically report to the president on performance of ministries. The initiative is expected to enhance the delivery of the ministerial mandates towards the achievement of the nine priorities of the federal government. It was launched yesterday at the Presidential Villa, Abuja. The Secretary to the Government of the Federation, Mr. Boss Mustapha said the CDCU has in the

last two years successfully driven government’s delivery initiative to incorporate a systematic feedback mechanism from the citizens into the design and operationalisation of its performance management system. This, it stated was in recognition of citizens’ critical roles in promoting inclusive and citizen-centered governance. He described the Presidential Delivery Tracker (PDT) App as a co-creation platform that aims to connect citizens to governance in Nigeria by increasing their access to the federal government's presidential priority policies, programmes, and projects. Mustapha said citizens’ engage-

Garrison Commander, 6 Division of the Nigeria Army, Brig. Gen. S. S. Tilawan, said the war has the assurance of the Nigeria Military, noting that they would continue to support the fight against illegal bunkering of Nigeria’s crude oil product whilst strengthening the collaboration between the military and the NSCDC. Also at the event were the Commissioner of Police, Rivers State Command, Eboka Frank; Sector Commander, FRSC, Umar Salisu; Commander, River State Command, NDLEA, Ahmed Mamnda; members of other security outfits and senior officers in the NSCDC.

ment enables government to broaden the development dialogue to include the views and perspectives of traditionally marginalised groups, leading to more inclusive institutions – governments, development organisations, and donor agencies alike. He added that the aim of the CDCU was to empower citizens to make their voices heard, build citizens engagement programme that works and participation that increases benefits if discussed with the people. The SGF said the Presidential Delivery Tracker and CDCU website would serve as means of disseminating information on public service delivery to the

citizens and foster citizens’ voice, discussion, and debate to demand for service improvement. “In a democratic nation like ours, it is imperative for our citizens to know their rights and obligations and to demand and access quality services through the instrumentality of government. “This will not only promote effective project implementation, instill a desire for high standard, but also deepen accountability and transparency at all levels and stimulate continued policy dialogue and strategic engagement among all stakeholders,” Mustapha said. He assured stakeholders and the public that feedbacks received

from both platforms would be given the deserved attention. He also commended the Ministry of Finance, Budget and National Planning for developing the National Monitoring and Evaluation Policy which was recently approved by the Federal Executive Council. According to him, the policy defines the framework for the institutionalisation of the practices of Monitoring and Evaluation (M&E) to promote good governance, learning and accountability for results that will contribute to the improvement of socio-economic development of Nigeria and enhancement of the citizens’ well-being.

Nigerian market and providing straight-through services that meet and exceed the needs of our growing clients.” The proposed acquisition marked Fidelity Bank’s first foray into the international market and signals yet another milestone in the bank’s increasing profile as a leading African bank. Fitch Ratings recently upgraded the bank’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness as well as its National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’. Standard and Poor's, another global ratings agency had also upgraded the bank’s national scale ratings to ‘ngBBB/ngA-2' from 'ngBBB-/ngA-3’ in recognition of its resilience and performance through the cycle. “The diverse service bouquet and business model of Union Bank UK offered a compelling synergy, and we hope to build on the existing capacity to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services,” Onyeali-Ikpe explained.

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NEWS

BRIEFING ON THE ACTIVITIES OF THE NNPC LIMITED... L-R: Group Chief Executive Oﬃcer, Nigerian National Petroleum Company (NNPC), Mele Kyari; GED, Gas and Power, Mohammed Abubakar; GED, Downstream, Adeyemi Adetuji and GGM, Corporate Planning and PHOTO: GODWIN OMOIGUI. Strategy Oritsemeyiwa Eyesan during a brieﬁng on the activities of the NNPC Limited organised by the Presidential Communication Team at the State House Abuja... yesterday

Domestic Airlines Owe NCAA N22.7bn Ticket, Cargo Service Charges Directs operators to commit to payment plan in next 30 days or be suspended Delta suspends New York- Lagos flights from Oct. 4 Chinedu Eze in Lagos and Kasim Sumaina in Abuja The Nigerian Civil Aviation Authority (NCAA) yesterday revealed it is being owed ticket and cargo service charges put at about N22.7 billion by the domestic airlines as at July 2022. Precisely, the regulatory authority is owed N19 billion and $7.8 million by the airlines. As a result of this, the agency has issued a one-month ultimatum to the airlines to settle the debts. The ticket service charge (TSC) is five per cent that is deducted from the cost of ticket paid by each passenger of the airline, just as the cargo service charge (CSC) is five per cent charged on every cargo freighted from the airport. The Director General of NCAA, Captain Musa Nuhu, disclosed this during a meeting held with indigenous airlines and ground handling companies in Abuja.

Nuhu warned that if the debts are not paid in the next few weeks the agency would find it difficult to meet its obligations. The Director General who gave the operators one-month ultimatum, directed them to sign a Memorandum of Understanding (MoU) with NCAA that would stipulate their respective repayment plans. The five per cent TSC and CSC are collected by NCAA and shared with other aviation agencies, including the Nigeria Meteorological Agency (NIMET), the Nigerian College of Aviation Technology (NCAT), the Accident Investigation Bureau Nigeria (AIB-N) and the Nigerian Airspace Management Agency (NAMA). During the meeting it was also disclosed that the airlines also owed the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency about N18 billion and N5

billion, respectively, including what they referred to as legacy debts, which are debts owed years ago by both existing airlines and ones that have gone extinct. The airlines owe FAAN landing and parking charges, while they are also hugely indebted to NAMA in terminal and navigational charges. Also during the meeting, Nuhu expressed disappointment over a letter, which emanated from the Airline Operators of Nigeria (AON), signed by its President, Alhaji Abdulmunaf Yunusa and dated August 8, 2022, addressed to the Minister of Aviation, Senator Hadi Sirika. The letter had accused the agencies, especially the NCAA of muscling out the operators through multiple charges. Nuhu who noted that the airlines and the entire aviation industry were going through very difficult period, insisted that all the charges collected by NCAA

SMEDAN Grants Licences to 150 Business Devt Service Providers Oluchi Chibuzor

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has granted licences to over 150 Business Development Service Providers (BDSPs) as part of efforts to further deepen professionalism within the ecosystem in the country. Speaking in Lagos, the Minister of State for Industry, Trade and Investment, (FMITI), Mrs. Mariam Katagum, who was represented by the Director, Industrial Development, FMITI, Mr. Adewale Bakare, said the award of certificates for BDSPs was important for the continuous growth of MSMEs in the country. She urged the certified BDSPs to use the opportunity to contribute towards addressing challenges confronting MSMEs in Nigeria. “The Ministry will continue supporting all entrepreneurs across Nigeria towards ensuring that we achieve the MSMEs sub-sector of our dream in areas of job, wealth creation and poverty alleviation,” she added.

Commending the programme, the Director General/ CEO of SMEDAN, Olawale Fasanya, said the agency would continue to be at the forefront of establishing a platform for enthroning professionalism within the BDS ecosystem in Nigeria as part of her mandate. He added that, “it pleases my heart today that we have collectively put together this credible structure for ensuring that both existing and potential BDSPs have the opportunity for proving their technical competence towards supporting MSMEs in Nigeria. “We consulted widely both within and outside the country in the run up to the establishment of the framework because our original resolve was to create a system that is geared towards setting a standard for the delivery of services by BDSPs to MSMEs in Nigeria. “MSMEs have continuously complained about the quality and cost of services provided by various BDSPs in the past. Therefore, this framework has arrived at the most

appropriate time to address the issues surrounding delivery of lowquality services at very exorbitant costs by BDSPs in Nigeria." According to him in cooperation with its parent ministry, the Federal Ministry of Industry, Trade and Investment and other relevant stakeholders within the MSMEs sub-sector in Nigeria, only certified BDSPs would be allowed to deliver capacity building, mentorship, counselling and other forms of BDS to MSMEs in Nigeria. “Furthermore, we are going to carry out comprehensive awareness creation campaigns across all states of the federation to ensure that potential BDSPs and other critical stakeholders are aware of the existence of the framework for the attendant participation. “I, therefore, call on all stakeholders including banks, development partners, public institutions, private sector institutions to ensure that they draw their BDSPs requirements from the certified BDSPs to ensure uniformity of technical output delivery in the MSMEs ecosystem in Nigeria.

were statutory and in compliance with the Civil Aviation Act 2006. According to him, the airlines were not responsible for the payment of TSC/CSC, but only collect such on behalf of the agencies from the passengers and wondered why the operators would accuse it of engaging in multiple levies. Nuhu further debunked the claim that the NCAA imposed excess baggage charge on the airlines, stressing that compared to what Nigeria’s neighbour, Ghana, collects as charges from airlines, that of the regulatory authority was far too small. He explained that for any of the charges to be repealed, it would have to go through the National Assembly and must be assented to by the President of the Federal Republic of Nigeria. Nuhu frowned at the fact that out of the five per cent TSC/ CSC, the agencies still remits 25 per cent of their revenues to the Consolidated Revenue Account created by the Federal Government and advised the operators to always crosscheck their facts before going to the public. “NCAA relies 100 per cent on its Internally Generated Revenue (IGR). The 5 per cent TSC paid by passengers is 85 per cent of NCAA revenue, while the other 15 per cent comes from airlines as

payment for services provided and they are all cost recovery. We don’t also impose any excess baggage charge on the airlines. I wonder where the operators saw this. “The airlines have intentionally refused to pay the debts owed us despite the fact that they have collected such from the passengers. The airlines collect money and refuse to transmute such to the right authorities. “AON wants us to provide services for free for them. What the airlines are trying to do is to defunct NCAA. You have refused to give us our legitimate money. The fees we are charging the airlines are just cost recovery and we are actually subsidising the airlines.” In his contribution, the Acting Managing Director of NAMA, Mathew Pwajok, reiterated that the charges of the agency were minimal when compared to other countries around the world, disclosing that the airlines owed NAMA over N5 billion for services rendered to them over the years. The Managing Director of FAAN, Capt. Rabiu Yadudu also disclosed that the airlines owe the agency N18 billion and debunked the claim that it charges the airlines indiscriminately as contained in the aforementioned letter to the Minister.

He declared that FAAN was not imposing any new burden on the airlines, stressing that its landing and parking charges for international operators were last reviewed in 1998, while for the local airlines, it was reviewed last in 2002. He also said there was the need for the charges to be reviewed by the agency, stressing that within the period, the airlines had reviewed their air tickets on numerous occasions. Responding, the Managing Director, Skyjet Airline, Alhaji Kashim Bukar, wondered why the Director General NCAA brought the issue to the public. He said rather than make it a public issue, the NCAA should have called the operators into a closed-door meeting to discuss the issue. However, the Managing Director, Overland Airways, Capt. Edward Boyo and a trustee of AON apologised to the NCAA for the letter. “I’m a trustee member of AON. On behalf of AON, I hope to apologise to you on the letter. The letter wasn’t intended to have this effect. Some parts of the letter were inappropriate. We apologise and I want to crave your indulgence to drop the issue,” he said. Continued online

WHO Monitors Clinical Trials on COVID-19 Herbal Remedies in Nigeria, Seven Others Onyebuchi Ezigbo in Abuja The World Health Organisation (WHO) has said it is currently working with eight African countries to monitor clinical trials of traditional medicine-based therapeutics proposed for COVID-19. Some of the countries are Nigeria, South Africa, Uganda, Democratic Republic of Congo, Ghana and Madagascar It stated that as part of efforts to advance continental efforts towards equitable access to medical products and technologies, all but eight African member states are now engaged in large-scale cultivation of medicinal and aromatic plants. In a message to mark the African Traditional Medicine Day 2022, WHO Regional Director for Africa,

Dr. Matshidiso Moeti, said 19 countries have also established facilities for the local manufacturing of herbal medicines, with the number of herbal medicines registered by national regulatory authorities in 14 countries increasing from just 20 in 2000, to more than 100 this year. She said: "WHO in the African Region has supported joint missions with partners to the Democratic Republic of Congo, Ghana, Madagascar, Nigeria, South Africa and Uganda, to monitor clinical trials of traditional medicine-based therapeutics proposed for COVID-19, eight of which are ongoing.” She said the political will to be displayed by countries to support the innovations had been inspir-

ing, just as the level of available infrastructure and skills. According to Moeti, more than 45 herbal medicines now feature on national essential medicines lists. The WHO scribe noted that the yearly commemorative activities have helped to create awareness that prompted more than 40 African countries to develop national traditional medicine policies by 2022, up from only eight in 2000. “Thirty countries have also integrated traditional medicine into their national policies, a 100 per cent improvement on the situation in 2000. Additionally, 39 countries have established regulatory frameworks for traditional medicine practitioners, compared to only one in 2000, demonstrating good governance and leadership.

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TWELVE IN MAJOR CROWDFUNDING, NIGERIANS IN DIASPORA MOVE TO RAISE $150M, N100BN FOR OBI’S CAMPAIGN Obinna Chima In a bid to bolster his chances in the 2023 presidential election, which holds 178 days from now, Nigerians in the Diaspora have formed groups of committees to launch crowdfunding initiatives for the presidential candidate of the Labour Party (LP), Mr. Peter Obi. They plan to unveil in the coming days a crowdfunding portal with a target to raise $150 million from Obi’s supporters in the diaspora and N100 billion from those in Nigeria, THISDAY has reliably gathered. A dependable source close to one of Obi's supporters leading the process, said yesterday they are targeting small amount in contributions to be gathered from supporters largely from the grassroots to help the LP set up more structures across the country and make the former Anambra State governor a formidable contender in the presidential race. The initiative is being driven by young enthusiastic Nigerians in the tech sector who are making waves and yearning for new leadership at the helm of affairs in the country. Some of whom have only recently come of voting age. "They are organising themselves into small committees and groups to contribute small amounts in a major effort to help Obi's Campaign establish structure and presence around the country. Interestingly while some of their parents are either supporters of PDP or APC, they are rooting for Peter Obi," a source involved in the discussion disclosed to THISDAY yesterday night. The campaigns for the presidential election, which holds February 25, 2023, will officially commence on September 28, 2022. Unlike 2019, when the race was essentially between All Progressives Congress (APC) and Peoples Democratic Party (PDP), LP has become a major factor in the coming presidential poll. Obi, who was in California, yesterday, is currently on a foreign tour to meet to his supporters in Canada, Germany, London, Rome, and the United States, where it is expected he would raise a substantial amount of the funds

needed for the election. “With that amount of cash, he would be able to build structures for Labour Party across the country and become a formidable opponent in the 2023 election and a threat to other candidates,” the source said. Crowdfunding is a financing method that raises money by soliciting small individual investments or contributions from a large number of people. Political crowdfunding is widely considered an acceptable medium for raising funding from grassroots supporters. Crowdfunding, particularly online, speaks to much wider groups than a party’s usual support base, while minimising time and effort for both the party and donors. It also has the potential to enhance a sense of community between the party and its base. People without large amounts of wealth are seldom asked to support political parties financially. But with the advent of crowdfunding, this has changed and supporters with relatively low financial strength are now seen as a huge resource for most parties, according to a report by Sweden-based International Institute for Democracy and Electoral Assistance (IDEA). However, as with political party funding, generally, political parties that engage in crowdfunding have to take the legal framework into account. Most countries have regulations for donations and related privacy and transparency issues. In many countries, parties are only required to report donations above a certain threshold, to encourage smaller donations, while allowing the monitoring of potentially risky larger donations in order to prevent money laundering, terrorism financing, as well as other illegal financial transactions. The funds are also subjected to taxation. “The automated nature of crowdfunding can allow donors to divide donations into smaller amounts more easily, thus circumventing the reporting obligations that apply to donors (although this only applies to some countries),” the IDEA report stated. The Labour Party presidential candidate also yesterday, said

Nigerians in the diaspora could be effectively mobilised as true assets for the rapid development of the country, adding that the Nigerian diaspora can play a major role in helping the country transform its education sector. Obi, in a series of Tweets from California, United States, where he attended a forum with the theme, “The Role of the Nigerian Diaspora in Civic Leadership in Nigeria,” noted that the diaspora community could help Nigeria set up and administer endowment funds in the Nigerian universities. He said endowments could also be used to provide support for students to go on exchange programmes that add value to their skills and motivation as well as support faculty research as well as research and development (R&D), in general. “Recently, Dr. Phillip Ozuah took a catalytic lead by donating $1 million to University of Ibadan,” he added. Obi wrote, “Nigeria diaspora remittances now augment and support education, promote entrepreneurship, and stimulate businesses and investments in healthcare, in addition to foreign remittances. Nigerians in the diaspora constitute the first line of representation and the first line of defense. “They have been flying the national flag high, in contributing their quota towards the development of the country across various sectors. “Diaspora remittances now outstrip foreign direct investment for most low and middle-income countries, Nigeria included. In most cases, such remittances now constitute three times the volume of Official Development Assistance (ODA) received.” According to the LP candidate, beyond their renowned role of sending foreign remittances back home, the diaspora are increasingly critical in advancing technology and skill transfer, strengthening democracy, opening up global supply chains, trade and foreign direct investment, education and research, as well as healthcare. Obi also stated, “Diaspora communities constitute an integral

part and, indeed, a critical mass of the development trajectory of their respective home countries. In that context, diaspora communities are increasingly part of the foreign relations architecture. They now serve as informal ambassadors and help with in advancing development in their home countries.” Obi urged Nigerians in the diaspora not to despair or become weary in contributing their quota towards nation-building, despite the present state of insecurity in the country and parlous economy. He pledged that his administration, if elected, would have zero tolerance for corruption and cut cost of governance. According to him, “Our total commitment to transparency and accountability in government business is the only credible way to achieve limited to zero corruption. “Africa will remain the centrepiece of our foreign policy. We will improve Nigeria’s diplomatic sphere of influence via peacekeeping, trade, and investment initiatives. We will pursue aggressively modalities for raising the national Internet penetration, as well as increase contribution of ICT to overall economic growth to aid national development. “We intend to lay special emphasis on critical infrastructure, especially power, to ensure a clear measurable increase of 200 per cent of today’s generation, transmission

the public their recent statistics on poverty, unemployment, and commodity prices — the reality of which will leave no hope for the common man. “Like I have said before, increasing debts will never be a solution to our indebtedness. My government, if elected, will halt the rate of debt accumulation and, instead, focus on private-public partnerships in financing development." Atiku said it was in view of the state of the nation that he was considering a unity government. He promised, "Targeted tax rebates to attract foreign and local investments, amongst other proactive measures to attract investments to grow the economy." Meanwhile, in an interview with journalists in Kano, shortly after the reception for former governor of the state, Ibrahim Shekarau, who returned to the main opposition party, Dokpesi said the PDP constitution allowed northern Nigeria to present a presidential candidate up to 2027. He explained, “In 2015, when President Goodluck Jonathan was angling to contest elections, I personally wrote to him and asked him not to do so, to either go on vacation after completing Yar'Adua's tenure or join the incoming government, so that he can come back and complete his full eight years.” The Benin high chief blamed Jonathan for jettisoning an established order, adding that he foreclosed the chances of the south. Dokpesi said of the former president, “But he was advised otherwise and adhered to that and that is what led to the crisis we have today and what also allowed the north to continue producing the president till 2027. ”I have been a member of the PDP from inception. I read and I know every stage of the party’s activities. Out of the 16 years of PDP rule, the north served only two years, that was why I opposed

Jonathan in 2015, when he was running for elections. I told him he should allow the north to complete their eight years, then, he will have his full eight years after resting for a while. “So, it is not true that it is the turn of the south in PDP, what Jonathan did was what brought about the crisis, which some people are pushing up.” He said the truth was that some social media handlers were worried that it was not possible for the north to have the chairman of the party, presidential candidate, and Board of Trustees chairman, and maybe, the campaign DG also. Dokpesi stated, “Now, it is

subsequently, on the front burners for new government that will be formed. “Besides voting, a citizen’s most coveted role is holding an elected government accountable. With your education, exposure and understanding of government responsibilities in your host country, and collective leverage, in the New Nigeria we seek, we must think out of the box and at times, disruptively. As government and as Nigerians in diaspora, we must henceforth contemplate those global best practices that will confer comparative advantage on us, and replicate known successes that can move Nigeria from consumption to production. “Nigerians in the diaspora, when effectively engaged, can act as important ‘trade ambassadors’ and ‘negotiators’ for the country, especially at the level of attracting small-scale boutique businesses. No country thrives economically merely by exporting its raw materials and importing virtually everything. Such a disposition weakens our economic base and employment capabilities. “Opportunities also abound for proactive collaboration between the diaspora community and the federal and state governments in expanding healthcare delivery; improving the quality of our healthcare system as well as ensuring skill transfers to locally-based practitioners.”

TNBA: BON Invites Entries for Award Categories, Announces Judges’ Panel The Broadcasting Organisations of Nigeria (BON), organisers of The Nigerian Broadcasting Awards (TNBA) has called for entries for 13 award categories each in radio and television. The call was made yesterday at a press conference in Lagos. BON also announced a sevenmember panel that would screen the entries to create a shortlist for each of the award categories. The judges’ panel composed

ATIKU: I’LL CONSIDER NATIONAL UNITY GOVT IF ELECTED, TO DOUSE TENSION, UNITE NIGERIANS administration for increasing the national debt burden, saying the government has been unreasonably upbeat about the reported growth rate of 3.4%. In a related development, the chairman of DAAR Communications, Chief Raymond Dokpesi, said the choice of Atiku, a northerner, as PDP presidential candidate was not offensive to the southern region. In the statement signed by him, Atiku said, there "is the consideration of a government of national unity that will douse the temperature, unite Nigerians and pave the way for improved security. Improved security allows for investments and, therefore, an improved economy." He said, if elected, he would target tax rebate, as a measure to encourage foreign and local investments into Nigeria, adding that the economy is in deeper trouble than the APC government is willing to admit. The PDP presidential candidate stated, "The citizens' level of misery hasn't changed, and the reasons are obvious. First, the key sectors of the economy, notably agriculture, oil and gas (the country's cash cow), and manufacturing (that contributes to jobs), are either growing slowly or declining. "Second, unabated are rising commodity prices occasioned by high energy and transportation costs (and aggravated by the disorderliness in the forex market)." Atiku said the debt levels had continued to rise while the fiscal capacity to service the country’s debts declined. He added that all these were enough to erase the perceived gains from output growth. He explained, "Having run out of ideas, it appears that our unprecedented level of indebtedness is whetting the government’s appetite for more debt. This is a recipe for macroeconomic instability. "We challenge the National Bureau of Statistics to share with

and distribution within the shortest time possible through public private partnership. “We will pursue intangible assets of good governance, rule of law, security of lives and properties, through an aggressive increase in personnel and equipment and inclusive training of operatives in our security agencies. “We will emphasise patriotism, national interest, and national morale, quality of government, political will and character, which are all complimentary to the other assets. We will ensure that we have these assets in place and stress asset optimisation. “Thinking through 2023 and beyond, we must think seriously about a leadership that is imbued with competence, capacity, credibility and commitment. The 4 Cs will be required to turn Nigeria around. Patriotism cannot be imposed; just like respect, it must be earned through dedication, responsiveness, active engagement, orientation, and prioritising of Nigerians in diaspora. The ripple effect will be rapid and will rub off positively on the country's economy.” Obi told his audience that they had the network and numbers to negotiate the priorities of the government, especially during the election period. He stated, “You should be able to place pressing issues on the agenda of the candidates and,

because we are not situating issues in their proper perspective. The truth of the matter is that the PDP has a constitution and it has said people are elected and rotated on an eight-year basis. “So, in 2019, that was when the PDP started its rotations. From that year up to 2027, the north is supposed to still present the president under PDP, so there is nothing wrong in Atiku Abubakar’s candidacy and we are not in 2027 yet; we are still in 2023.” He admitted, “We lost the 2015 elections because we didn’t adhere to the rotational presidency and since then what has changed? Nothing!”

of stellar broadcasting industry figures, stakeholders and representatives of regulatory agencies, includes Mr. Emeka Mba, former Director-General of the National Broadcasting Commission (NBC); ace broadcasters, Deborah Omowunmi Odutayo and Aro Leonard. Others are Mallam Bello Sule, organiser of the 1988 Nigerian Festival of Television Programmes (NIFETEP); Lady Susan Ngozi Agbo of the Advertising Regulatory Council of Nigeria (ARCON), Mr. Kayode Qosim Olowu, representative of the Association of Advertising Agencies of Nigeria (AAAN) and Mrs. Stella Erhunmwunsee of the NBC. While unveiling the judges’ panel, BON Chairman and Chief Executive Officer of MultiChoice Nigeria, John Ugbe, said the judges are putting their reputation and pedigree on the line to ensure that the award process is credible. Ugbe noted that the TNBA was aimed at celebrating excellence in the broadcasting profession, adding that the award ceremony will be the biggest show in Africa. "With all the training we provide and investment we make in broadcasting; we've found out that

the best motivation is becoming the best at what you do. That's a key driver for coming up with this credible awards ceremony that rewards the best from a professional perspective. "We are also extending this to the audience who would decide the best in each category with their votes. "This award will celebrate the very best in broadcasting across the country. We believe this will encourage practitioners to put their best and energy into their works. "It's going to be the biggest award show in Africa, as it will broadcast live on all BON member stations. We, therefore, seek the support of sponsors, as we will do this to the highest level of professionalism and excellence. “We have the experience and expertise to put together an award that others will learn from," he said. The BON Chairman also disclosed that entries for the awards, the modalities of which would be communicated via the media, including all BON member stations, would begin from September 1, and end three weeks after. The awards ceremony was slated for November in Abuja

KYARI: NIGERIA WILL STOP IMPORTING PETROLEUM PRODUCTS BY MID-2023 importation of petroleum products into this country.” According to him, “Even if all our four refineries in three locations are operating at 90 per cent of installed capacity, they will only be able to raise 18 million litres of petrol. “That means, even if all of them are working today, you would still have a net deficit of premium motor spirit (PMS) to import into this country," he added. The GCEO explained that, as Nigeria’s population, middle class and demand grew, so did the amount of petrol required in the country. He reaffirmed that NNPC owns 20 per cent of the Dangote Refinery and has first right of refusal to supply crude oil to the plant. “But we saw this energy transition challenge coming. We knew that time will come where you would look for people to buy your crude and you will not find,” he said. “And that means we have locked down ability to sell crude oil for 33,000 barrels minimum by right for the next 20 years and by right also we have access to 20 percent of the production from

that plant," Kyari explained. The NNPCL boss informed his audience that the Lagos-based 650,000 barrels per day Dangote refinery under construction would start producing petrol by the middle of next year, with a capacity of 50 million litres per day, adding that, “the combination of that and our ability to bring back our refinery will eliminate any importation of petroleum products into this country next year. You would not see any importation into this country next year. “This is very practical. As a matter of fact, when we are done with our own refineries and the Dangote refinery, there remain other small initiatives that we are doing, small modular condensate refineries that we are building. “If that happens and we are very optimistic it will happen, you would see that this country will now be a net exporter. “As a matter of fact, it will be a hub for the export of petroleum products, not just to the West African sub-region. This will happen. The flow of supply will change by the middle of next year, it will change. You will not need the importation of petroleum products

into this country by the middle of next year.” However, Kyari alleged that stolen crude oil products are now stored in places of worship such as churches and mosques, with the consent of the religious leaders, members and neighbours. Lamenting that the phenomenon had become widespread and permeating several aspects of society, he revealed that at least 295 illegal connections were spotted on a 200 kilometer stretch of pipeline in one instance. Kyari said, “As you may be aware because of the very unfortunate acts of vandals along our major pipelines from Atlas Cove, all the way to Ibadan, and all others connecting all the 37 depots that we have across the country, none of them can take delivery of products today. “The reason is very simple. For some of the lines, for instance, from Warri to Benin, we haven’t operated for 15 years. Every molecule of product that we put, gets lost. Do you remember the sad fire incident close to Sapele, that killed so many people? We had to shut it down, and as we speak, we have a high level of losses on our

product pipeline. “You remember in Lagos, when a fire outbreak happened on one of our pipelines? We discovered that some of the pipelines were actually connected to individuals’ homes. And not only that, with all sensitivity to our religious beliefs, some of the pipelines and some of the products that we found are in churches and mosques." The GCEO added that such spate of vandalism prompted the NNPC to shut down its entire network of pipelines conveying petroleum products nationwide. According to him, “When we say we are losing several 700,000 barrels of crude oil daily, we mean it. This is opportunity loss. There is no company that will produce oil and then you lose 80 percent of that and continue to produce the oil. “So we deliberately shut down the pipelines whenever we see these infractions getting to a limit that we cannot manage. So that means as we speak today, we know for sure, there’s at least 700,000 barrels that we could have produced that we can’t because we cannot guarantee the safety of the pipeline."

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 31, 2022

MIDWEEKPOLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com

08033025611 SMS ONLY

As Appeal Court Recognises Oborevwori As Delta PDP Governorship Candidate... Omon-Julius Onabu asks if the Monday’s ruling by the Appeal Court recognising Sheriﬀ Oborevwori as the Peoples Democratic Party’s gubernatorial candidate for Delta State in the 2023 General election will bring lasting peace to the party in the state

mid a dense atmosphere of palpable suspense that hung over the Peoples Democratic Party (PDP) family in Delta State, the Federal Court of Appeal sitting in Abuja on Monday, August 29, 2022 gave a verdict on the case brought before it seeking to upturn the July 22, 2022 decision of the Federal High Court sitting in Abuja on who is the authentic 2023 PDP gubernatorial candidate. On 22nd July, the Federal High Court, Abuja presided over by Justice Taiwo O. Taiwo faulted the certificates and other documents filed by Sheriff Oborevwori for nomination as gubernatorial candidate of the PDP and directed both the party and the Independent National Electoral Commission (INEC) to immediately recognize David Edevbie as the rightful and lawful candidate of the party for the 2023 election. One of the govenorship aspirants, David Edevbie, had approached the federal high court, challenging the declaration by the party of Sheriff Oborevwori as the party’s governorship candidate based on the Thursday, May 25, 2022 primary election held in the main bowl of the Stephen Keshi Stadium, Asaba. Edevbie was runner-up to Oborevwori at the primary election. Anyhow, the appellate court, which had on 19th August reserved ruling for a later date, has resolved to set aside the verdict of the lower court, noting that the Federal High Court actually lacked jusrisdiction to adjudicate in the matter brought before it by the applicant (plaintiff), David Edevbie. Moreover, the appellate court declared that the Applicant approached the high court prematurely, apparently because the applicant (Edevbie) and the high court misconstrued the essence of Section 29 of the Electoral Act. According to the Court of Appeal, Edevbie

Federal High Court on the interpretation of Section 29 is erroneous; r5IF KVENFOU PG UIF MFBSOFE USJBM DPVSU JT erroneous and is null and void as it was done without jurisdiction.

Oborevwori

Edevbie

should have exercised patience until the Independent National Electoral Commission (INEC) had published the names and relevant particulars of the Delta State PDP governorship candidate for the 2023 election before challenging the veracity or otherwise of Oborevwori’s tendered educational qualifications. Specifically, the appellate court made several crucial statements of law to justify its decision to set aside the verdict of the lower court as follows: r"MMFHBUJPOT PG GSBVE TVDI BT GBLF documents cannnot be resolved by originating summon; r$BTF PG GPSHFSZ DBOOPU CF EFcided by affidavit evidence; r5IF $PVSU KVTU IFME UIBU UIF TVJU ought to have been commenced by

Writ of Summons and not Originating Summons; r5IF $PVSU IBT BMTP IFME UIBU TJODF UIF NBUUFS is founded on presentation of forged documents it will require calling of witnesses; r5IF $PVSU BMTP IFME UIBU UIF DBVTF PG BDUJPO of David Edevbie has not crytsalized for the court to assume jurisdiction; r0SJHJOBUJOH TVNNPOT XBT XSPOHMZ EPOF r-PXFS DPVSU IBE OP KVSJTEJDUJPO UP FOUFSUBJO the suit; r*TTVF 0OF JT SFTPMWFE JO GBWPVS PG UIF BQpellant; r&EFWCJF T DBTF XBT OPU SJQF CFDBVTF 4IFSJGG T name has not been sent to INEC; r5IF $PVSU IBT GVSUIFS IFME UIF SJHIU PG %BWJE Edevbie to approach the court can only accrue when INEC publishes the personal particulars of Sheriff Oborevwori; r5IF $PVSU IBT IFME UIBU UIF 'FEFSBM )JHI Court misconstrued the provisions of Section 29 of the Electoral Act. The reasoning of the

Oborevwori celebrates As soon as news of the verdict of the appellate court broke on Monday, Sheriff Oborevwori, who is the Speaker, Delta State House of Assembly, proceeded to celebrate with a thanksgiving service at Government House Chapel, Asaba, saying God has answered his prayer for a victory at the Court of Appeal. Oborevwori, who was joined by family members, political aides, friends and state government functionaries, said he was dedicating the victory to God, the PDP and the people of the state. He said, “We have come here to give thanks to God for giving us victory. The victory is for everybody; it is God that gives power and nobody can upturn what God had ordained. “When we came to the chapel to celebrate the 31st anniversary of the creation of Delta State last Saturday, I promised God that if He gives me victory at the Appeal Court, l shall come to the chapel to give thanks to Him.” The anxious waiting The process towards resolving the raging intra-party crisis rocking the Delta State chapter of the Peoples Democratic Party was expected to move to a crucial stage with Monday’s verdict considering the deep division created in the party by the question of who is the authentic 2023 gubernatorial candidate of the PDP in the state. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Revisiting APGA Leadership Crisis Despite the Supreme Court pronouncement that recognised Edozie Njoku as the authentic chairman of the All Progressives Grand Alliance (APGA), the refusal of the Independent National Electoral Commission (INEC) to obey the judgement has ensured that the leadership crisis rocking the party has continued unabated. Adedayo Akinwale writes

hile political parties are gearing up for the commencement of the official campaign in September ahead of the 2023 elections, the leadership crisis rocking the All Progressive Grand Alliance (APGA) has continued unabated as political gladiators continue to battle for the soul of the party. The battle of supremacy between Edozie Njoku and Victor Oye over the chairmanship position of the party has ensured that things are no longer at ease within the party. With political campaigns going full blast next month, these are not the best of times for APGA, a party touted to be a regional political force during its formation 20 years ago.

Judge of Anambra state and legal luminary, Prof. Peter Umeadi as its presidential candidate in the 2023 election, while the Njoku-led faction produced the founding national chairman, Chief Chekwas Okorie, as the presidential candidate.

Njoku

How the crisis started The crisis in the party started when the then National Chairman of the party, Victor Oye decided to contest for a second term in office. Oye set machinery in motion to prepare for his second stint in office when his party conducted the Ward, Local Government and State congresses that led to the party’s national convention held in Owerri on May 31, 2019. Aftermath of the congresses, Oye allegedly cancelled the processes because he smelled that delegates that emerged from the exercise were not likely to honour him with their votes for a second term. After upturning the congresses, Oye allegedly sacked members of the Board of Trustees (BoT) and handpicked new members, at a meeting in the Government House, Awka, and picked a

Oye

new convention venue, which was later held in Awka. To ensure the plans pan out perfectly, Oye decided to use the tenure of party functionaries to garner votes for the Awka convention, but unknown to him that their tenure had already elapsed. Disenchanted by the attempt to change the rules in the middle of the game, APGA officials, including members of the BoT he dissolved approached various courts in Delta and Oyo States, where they secured an injunction against holding the convention in Awka.

Based on the court injunction against the Awka convention, the APGA convention was held in Owerri and Chief Edozie Njoku was elected as National Chairman alongside other members of the National Working Committee (NWC). Meanwhile, with the support of the immediate past Governor of Anambra State, Willie Obiano, Oye held on to the position, claiming that he was equally elected at the Awka convention. As a result, both men are running the affairs of the party from different secretariats, complete with two national working committees. While the battle for the soul of the party continues, Oye-led faction elected the former Chief

War of words between Njoku and Oye Following the Supreme court judgement that sacked Oye, and crowned Njoku as the chairman of the party, war of words ensued between Oye and Njoku and it was at this point that all hell was let loose with a barrage of attacks. Oye drew the first blood when he accused Njoku of working to distract as well as destabilize APGA. According to him: “APGA is the real party; our last convention was held on 31st May, 2019. Since 2019, we have not had factions in APGA. All the people parading themselves as leaders of APGA are meddlesome interlopers”. “After our 2019 convention, Edozie Njoku went to Owerri to elect himself chairman. This country must be a country of law and order. There is only one leadership in APGA. I want the Independent National Electoral Commission (INEC) to be fair in their judgment. We must deal with the people causing trouble in this country.” Njoku wasted no time in responding to Oye, insisting that the apex court in the country, in May, 2022, recognized him as the substantive national chairman of APGA. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

WEDNESDAY, AUGUST 31, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Ex-Soviet Union President, Gorbachev, Dies at 91 Former Soviet President, Mikhail Gorbachev, has died at 91. Russian news agencies, The Tass, RIA Novosti and Interfax, which reported the news, alsocited the Central Clinical Hospital. Gorbachev’s office had earlier said he was undergoing treatment at the hospital. “Tonight (Tuesday), after a serious and prolonged illness, Mikhail Sergeyevich Gorbachev,has died,” the hospital said. Gorbachev was born on March 2, 1931. He graduated from the Department of Law of the Moscow State University in 1955, and later received a second education in 1967 from Stavropol Agricultural Institute. Gorbachev joined the Communist Party in 1952 and became a member of its Central Committee in 1971. The last secretary general of the Communist Party’s Central Committee, he was elected to the post in 1985, following the death of his predecessor, Konstantin Chernenko. Gorbachev promoted glasnost – a policy of open discussion of political and social issues – and perestroika, a policy of political and economic reforms. He was the first and the last president of the Soviet Union, winning elections for the post in March 1990 and resigning on December 25, 1991. Gorbachev won the Nobel Peace Prize in 1990, and after stepping down as Soviet president, he was engaged in social and literary activities. A source familiar with the wishes of the former president’s loved ones, according to TASS, said, yesterday, that he would be buried at Moscow’s Novo-Dyevitchiye cemetery, next to his wife. “Mikhail Sergeyevich will be buried, as he willed, next to his spouse Raisa at the Novo-Dyevitchiye cemetery,” the source said. Although committed to preserving the Soviet state and its socialist ideals, Gorbachev believed significant reform was necessary, particularly, after the 1986 Chernobyl disaster. He withdrew from the Soviet–Afghan War and embarked on summits with U.S. President Ronald Reagan, to limit nuclear weapons and end the Cold War. His policy of glasnost promoted freedom of speech and press, while his perestroika sought to decentralise economic decision-making to improve efficiency. His democratisation measures and formation of the elected Congress of People’s Deputies undermined the one-party state. Widely considered one of the most significant figures of the second half of the 20th century, Gorbachev remained the subject of controversy. The recipient of a wide range of awards, including the Nobel Peace Prize, he was widely praised for his pivotal role in ending the Cold War, introducing new political and economic freedoms in the Soviet Union, and tolerating both the fall of Marxist–Leninist administrations in eastern and central Europe and the reunification of Germany. He was derided in Russia and the other former Soviet states for accelerating the Soviet dissolution, an event which brought a decline in Russia’s global influence and precipitated an economic collapse.

Elon Musk Cites Whistleblower as New Reason to Quit Twitter Deal Elon Musk and Twitter lobbed salvos at each other Tuesday in the latest round of legal filings over the billionaire Tesla CEO’s efforts to rescind his offer to buy the social media platform. Musk filed more paperwork to terminate his agreement to buy Twitter, this time based on information in a whistleblower complaint filed by Twitter’s former head of security. Twitter fired back by saying his attempt to back out of the deal was “invalid and wrongful.” In an SEC filing, Musk said his legal team notified Twitter of “additional bases” for ending the deal on top of the ones given in the original termination notice issued in July. In a letter to Twitter Inc., included in the filing, Musk’s advisers cited the whistleblower report by former executive Peiter Zatko — also known

the belief that only dialogue can prevail in the face of any conflict.” China Foreign Ministry spokesperson Zhao Lijian said in a daily briefing that authorities in Taiwan’s ruling Democratic Progressive Party were deceiving themselves using “diplomatic ties for political manipulation.”

China to Hold 20th Communist Party Congress October 16

by his hacker handle “Mudge.” Zatko, who served as Twitter’s head of security until he was fired early this year, alleged in his complaint to US officials that the company misled regulators about its poor cybersecurity defences and negligence in attempting to root out fake accounts that spread disinformation. The letter addressed to Twitter’s Chief Legal Officer Vijaya Gadde said Zatko’s allegations provide extra reasons to end the deal if the July termination notice “is determined to be invalid for any reason.” Billionaire Musk has spent months alleging that the company he agreed to acquire undercounted its fake and spam accounts, which means he doesn’t have to go through with the $44 billion deal. In a separate SEC filing, Twitter responded to what it called Musk’s latest “purported termination,” saying it’s “based solely on statements made by a third party that, as Twitter has previously stated, are riddled with inconsistencies and inaccuracies and lack important context.”

First Ship Carrying Ukrainian Grain to Africa Arrives in Djibouti The first shipment of Ukrainian grain to Africa since Russia’s invasion arrived in Djibouti on Tuesday. The grain will be distributed in Ethiopia to help the drought-stricken nation cope with worsening hunger that threatens to become a famine. Mike Dunford, East Africa regional director for the UN’s World Food Program (WFP), spoke to reporters at the port. “The food on the (UN-chartered ship) Brave Commander will feed 1.5 million people for one month in Ethiopia,” he said. “So, this makes a very big impact, for those people who currently have nothing and now WFP will be able to provide them with their basic needs.” A Russian blockade of Ukraine’s seaports forced Ukraine to halt nearly all deliveries of grain, which sparked worries of a worldwide food crisis. Russia invaded the country in February. A settlement between Kyiv and Moscow that the UN and Turkey mediated in July, known as The Black Sea Initiative, saw a resumption in exports of wheat, other foodstuffs, and fertilizers from three Black Sea ports at the beginning of August. The WFP said 150,000 tons of additional wheat grain from Ukraine would be sent in the coming weeks thanks to funding

provided by the United States.

Odinga Vs Ruto: Kenya’s Supreme Court Orders Recount of Ballot Boxes Kenya’s Supreme Court has ordered the recount of ballots cast at 15 polling stations during the August 9 presidential election. The order was one of several issued Tuesday as the court began hearing a challenge to the win of President-elect William Ruto. The recount request from Raila Odinga and his running mate, Matha Karua, was for 15 polling stations in four counties: Kericho, Nandi, Nyandarua and Mombasa. The first three counties voted heavily for Ruto, while Mombasa residents voted mainly for Odinga. Judges said the recounts must be done within 48 hours. The court also told Kenya’s Independent Electoral and Boundaries Commission, the IEBC, to provide the official voter registries and some election-related equipment for examination. Chief Justice Martha Koome said after looking at the arguments submitted by Odinga and his lawyers, the judges would be ruling on several questions.

Guatemala Pledges Support for Taiwan, China Claims ‘Political Manipulation’ Guatemalan Foreign Minister Mario Bucaro said on Tuesday that the Central American country will “always support” Taiwan after China conducted its largest-ever military drills around the self-ruled island earlier this month. Meeting Taiwan President Tsai Ing-wen at the presidential office in Taipei, Bucaro said that Guatemala and Taiwan were “likeminded countries” united by a “democratic alliance.” “Guatemala will always support Taiwan because we have a firm belief in the principles of peace, sovereignty, and territorial integrity,” said Bucaro. “Peace is non-negotiable, but especially sovereignty is non-negotiable.” The remarks come just a few weeks after Beijing concluded a barrage of military drills around Taiwan in response to a visit to the island in early August by U.S. House of Representatives Speaker Nancy Pelosi. The official did not mention China in his remarks but said his visit to the self-ruled island was about “telling the world the importance of showing solidarity to the people of Taiwan, in

China’s ruling Communist Party will hold its five-yearly congress beginning on October 16, with Xi Jinping poised to secure a historic third leadership term and cement his place as the country’s most powerful leader since Mao Zedong. The Politburo announced on Tuesday the start date for the congress, which typically lasts about a week and takes place mostly behind closed doors at the Great Hall of the People on the western side of Tiananmen Square in central Beijing. Xi, 69, has steadily consolidated power since becoming party general secretary a decade ago, eliminating any known factional opposition to his rule. He is expected to exert largely unchallenged control over key appointments and policy directives at a Congress that many China-watchers liken to a coronation. Despite headwinds that have buffeted his path to a third term — from a moribund economy, the COVID-19 pandemic and rare public protests to rising frictions with the West and tensions over Taiwan — Xi is poised to secure a mandate to pursue his grand vision for the “rejuvenation of the Chinese nation” for years to come.

Iran: No Return to 2015 Nuclear Deal Unless IAEA Ends Investigations Negotiators from Iran and six world powers reportedly are close to agreeing on a revival of the 2015 nuclear deal, known as the JCPOA (Joint Comprehensive Plan of Action), which saw the US and Europe roll back sanctions on Iran in return for limits on Tehran’s nuclear program. Then-President Donald Trump withdrew the United States from the deal in 2018, calling it the worst deal in history. Since April 2021, US and European negotiators have tried reviving the JCPOA alongside Iranian counterparts and the European Union, which chairs the talks. A final draft text was submitted earlier this month, although key sticking points remain. The resurrection of the JCPOA appears to hinge on one key issue: Iran’s past unexplained nuclear activity. The United Nations nuclear monitor, the International Atomic Energy Agency (IAEA), found traces of uranium at three undeclared sites in Iran dating to before 2004 and launched what it calls “safeguards” investigations.

Ukraine Reports Heavy Fighting in Kherson Amid Southern Oﬀensive Ukraine’s presidential office reported heavy fighting Tuesday in the Kherson region in southern Ukraine, an area occupied by Russian forces where Ukraine says it has launched a counteroffensive to retake territory. Ukrainian President Volodymyr Zelensky vowed in his nightly address Monday that Ukrainian forces would take back their territory. Britain’s defence ministry said Tuesday that as of early Monday, “several brigades of the Ukrainian Armed Forces increased the weight of artillery fires in front line sectors across southern Ukraine.” It added that since the start of August, Russia has worked to reinforce its presence on the western bank of the Dnipro River in the Kherson area. “Most of the units around Kherson are likely undermanned and are reliant upon fragile supply lines by ferry and pontoon bridges across the Dnipro,” the British defence ministry said.

T H I S D AY ˾ WEDNESDAY, AUGUST 31, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

A U G U S T

S & P INDEX

3 0 , 2 0 2 2

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EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

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N416.86/ 1 US DOLLAR*

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Fixed Income, Currency Markets’ Turnover Hit N116.21trn on Demand, Economic Activity

Kayode Tokede Following massive demand for the greenback and increasing economic activity, turnover in the Fixed Income and Currencies (FIC) market of the FMDQ Exchange hit N116.21trillion in the first 7 months of 2022, representing a 7 per cent increase over N109.02 trillion traded in seven months of 2021. The major instruments contributing to the FIC market are: Foreign Exchange market, Treasury Bills, Open Market Operations (OMO) and Central Bank of Nigeria (CBN)

Special Bills, FGN & Other Bonds and money market. Analysis of numbers released by FMDQ showed that Foreign Exchange market dominated trading in the FMDQ Exchange’s FIC market, contributing 30.4 per cent between January and July 2022 as against 23.41 per cent reported in corresponding period. According to the FMDQ numbers, total foreign exchange market turnover increased by 38.6 per cent to N35.38 trillion in seven months of 2022 from N25.52 trillion reported in seven

months of 2021. Finance analysts attributed the increasing foreign exchange trading at the FMDQ Exchange market to increasing business activities towards 2023 general elections, stressing that Nigeria is experiencing one of its worst foreign exchange crises in history due to increasing demand for foreign exchange amidst low supply. According to the Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion, the growth to increasing demand for foreign exchange translated into

improvement in the global economy activities. However, he warned that the crisis between Ukraine and Russia might affect demand going forward. Omordion expressed that the domestic economy has witnessed more business activities in seven months of 2022 and demand for foreign exchange has increased significantly. On his part, analyst at PAC Holdings, Mr. Wole Adeyeye attributed the growth recorded in the total foreign exchange turnover in seven months of 2022 to increasing economic activities. “The demand by investors and

exporters foreign exchange in the first four months of 2022 has depreciated the local currency and we have witnessed volatility in the foreign exchange market,” he explained in a telephone interview with THISDAY. With the increasing total foreign exchange turnover in the FMDQ, the Naira has continued to depreciate. Findings revealed that Naira depreciated against the US Dollar, losing 2.5 per cent or N10.46/Dollar to close at an average of N427 01/ Dollar at the Investors & Exporters Foreign Exchange Market (I & E FX)

in July 2022 from N416.55 recorded in January 2022. In a recent report, CSL Stockbrokers Limited, (CSLS) stated Nigeria is experiencing one of its worst foreign exchange crises in history due to increasing demand for foreign exchange amidst low supply. The firm noted that despite the high oil price, occasioned by the Russia-Ukraine war, Nigeria has failed to benefit from it due to limited production and the maintenance of a Continued on page 22

Agusto & Co Predicts 23% Return on Equity for Nigerian Banks in 2022 Nume Ekeghe Despite the harsh operating environment in the country, Agusto & Co has projected that commercial banks in Nigeria will grow their pre-tax return on equity (ROE) by 23 per cent at the end of 2022 financial year. The rating agency made the

prediction in its 2022 Banking Industry outlook adding that it anticipates a 16.5 per cent yearon-year (Y-o-Y) loan growth in 2022. Agusto & Co pointed out that the resilience shown by the Nigerian banking industry in FY 2021 stressing that the Industry loan portfolio grew by 21 per cent despite the weak economy and regulatory constraints.

“Notwithstanding the prevailing global supply constraints, the Russian-Ukraine crisis, and insecurity challenges that continue to hamper food and crude oil production in Nigeria, we anticipate a 16.5 per cent y-o-y loan growth in 2022. Traditional sectors such as oil and gas, manufacturing, general commerce and agriculture sectors are expected

to drive the loan growth given the backward integration initiatives of obligors, the intervention activities of the CBN and the import-dependence nature of the Nigerian economy. “While the arbitrary cash reserve deductions and foreign exchange illiquidity would remain limitations to the growth of the Industry’s loan portfolio, we note that more banks

are now favourably disposed to accessing the differentiated cash reserve requirement (DCRR) window to reduce the value of sterile restricted funds with the CBN. In the near term, we believe the Industry’s asset quality will remain acceptable, with the impaired loan ratio hovering around six percent as of 31 December 2022. In our view, a proactive tightening

of controls around loan origination and intensified loan monitoring will moderate the impact of the tough operating climate on the loan portfolio, ”it stated. Whilst noting that Nigeria’s banking industry remains well capitalized, relative to the business Continued on page 22

M A R K E T D ATA A S AT M O N D AY, A U G U S T 3 0 , 2 0 2 2 BILLS

BONDS DESCRIPTION Price ^14.20 14MAR-2024 13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

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10.92

100.89

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13.20

112.10

12.70

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12.09 12.96

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16.44 18.24

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CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS AUG 31 433.54 1 August 25, 2022 2022 NGUS SEP 28 435.39 2 August 25, 2022 2022 NGUS OCT 26 3 437.24 August 25, 2022 2022 NGUS NOV 30 4 439.09 August 25, 2022 2022 NGUS DEC 28 5 440.94 August 25, 2022 2022

T H I S D AY ˾ WEDNESDAY, AUGUST 31, 2022

BUSINESSWORLD

ECONOMY

Replacing Oil as Mainstay of Nigeria’s Economy Nume Ekeghe writes on the need to urgently diversify from an oil-dependent economy to avert concurrent economic headwinds

he Nigerian economy for decades has been largely dependent on oil as its main source of revenue, despite several policies, measures, and efforts that were put in place to rectify the situation by diversifying into other sources of income. Despite contributing more than 80 percent of the country’s revenue as well as foreign exchange earnings, the oil sector’s contribution to Goss Domestic Product is minuscule. According to the latest GDP figures, for the second quarter of 2022 released by the National Bureau of Statistics (NBS), the contribution of the oil sector to real GDP was 6.33 percent, down from the figures recorded in the corresponding period of 2021 and the preceding quarter, where it contributed 7.42 and 6.63 per cent respectively. While progress is being made to reduce the country’s dependence on oil, Nigeria can still be referred to as a mono-product economy. A Mono-product economy refers to an economy mainly dependent on a single product or resource for economic growth and development. The concept could further be referred to as a case where a country depends on a single product for sales or exports for its budget funding, especially to the tune of 70 percent of revenue. Oil and gas accounted for 90 percent of export income in the first quarter of 2022 and 85 percent of government revenue in Nigeria thereby making the country a mono-product economy owing to its dependency on oil and gas. This is despite the fact that Nigeria is a hugely agrarian economy with vast arable land. The country also has a large proportion of the population into agricultural activities for their livelihood, and statistics show that even though Nigeria has over 80 percent of its land arable, less than 40 percent of the land is cultivated Speaking at a seminar for finance journalists and business editors, the Director of Trade and Exchange Department of the Central Bank of Nigeria (CBN), Dr Ozemena Nnaji listed the challenges faced by a mono-product economy. According to her, a mono-product economy is unstable,

an increase or decrease in the world price of the same product will affect the budget of the economy Adding that high percentage of unemployment is one of the downsides, she said, “An import-oriented economy weakens the foreign exchange base of a country’s currency. The economy is dependent that is it cannot stand on its own. It weakens local production of products that are imported into the country. In addition to importation of finished goods a country may also import inflation and other economic effects.” Also, Dr. Biodun Adedipe, of B. Adedipe Associates Limited decried the dependence of the country on oil. He noted that for Nigeria, concentration risk is pervasive and found in practically every major aspect of the national economy. He said, “The most fundamental is the place of crude oil in every and all equations in Nigeria, foreign earnings; government revenue; sectorial contribution to GDP; institutions; funding of education; urbanisation; etc.” Impact on Nigeria On his part, Professor Ken Ife, Development Consultant & Lead Consultant, Industry & Private Sector Development, ECOWAS Commission said Nigeria is still a predominantly import-dependent economy, despite half a century of lip service of diversification, backward integration, and import substitution. “The import dependence is compounded by a monocultural hydrocarbon dominated forex import earner that accounts for 79 percent in crude oil and 10 percent in natural gas, a third of banking sector credit, and half of government revenues, even though petroleum sector accounts for just over five percent of the GDP. “The impact of this is that Nigerian economy is on the transmission belt of global supply chains. Any exogenous global headwind affects the Nigerian economy. 2008/2009 global financial crisis precipitated by US sub-prime mortgage forced

CBN to set up AMCON that gulped N6 trillion to clean up the balance sheet of Nigerian banks and financial institutions. “In 2017 global energy crisis forced Nigeria into stagflation, provoking extreme measures and domestic finance intervention in support of backward integration of 31 items delisted from CBN Forex eligibility. By 2020 Covid – 19 global pandemic and global supply chain disruptions pushed Nigeria into a deep recession and now, Russian – Ukrainian conflict. Crashes in crude oil prices between 2015 and 2017 resulted in a loss of over $100 billion (N 41.5 trillion). In this current recession, we must have lost over $30 billion in foreign exchange, “he said.

NEED FOR DIVERSIFICATION Adedipe stressed the need for diversification of the country’s income stream from oil, noting that, “diversification means that we don’t rely on only one or few related sources of revenue, income or inflows.” Adedipe explained that with fossil fuel gradually going out of fashion, “about 80 per cent of Nigeria’s merchandise export is under threat! There is frenzied pursuit of clean and green energy to address climate change. Green bond issuances and other funding are massively flowing into developments in this space.” He also listed as reasons the government must move away from oil, the cocktail of policies and incentives driving the evolution of electronic vehicles – Ban on ICE or electrification: Norway 2025; 9 countries + UK 2030; US, China & Japan 2035; others 2040, 2045 and 2050. There is also the discovery of crude oil in an increasing number of African countries whose oil policies are more investor friendly. “If Nigeria sincerely wants to get out of dependence on crude oil dependence and the woes this has brought since the petrodollar began flowing in 1974, some courageous steps must be taken.

We must understand that this is not a financial and financing matter. Removing or reducing the exchange rate premium won’t solve it. “Taking accommodation with IMF won’t do it either Ghana has done that 17 times and yet, the Ghanaian Cedi is not a super currency today. The fundamental issue is that we are producing the right things and we are not producing enough. We look more outside of Nigeria for redemption, whereas the solution to most of our problems lies within. Looking inwards preserves. We must deliberately align policies across fiscal, monetary, commercial, and industrial planks, ”he said. While Identifying sources of foreign exchange earnings, he listed proceeds from oil exports, proceeds from non-oil exports, Foreign Direct and Portfolio Investments as well as Diaspora remittances, which have increased from $6 million per week in December 2020, to $100 million per week by January 2022. On how the CBN interventions have been beneficial to the economy, he said, “In 2020, as was in 2016, Nigeria went into stagflation. Whilst it took 5 quarters, to 2017 to exit the recession, in 2020 it took only 1 quarter. This was so because of the quantitative Monetary Policy Intervention (N3.5tr) and fiscal intervention (Economic Sustainability Plan – N2.3tr of which CBN was to contribute N1.5tr). The supply chain disruption, pervasive insecurity, staff retrenchment, and high levels of unemployment meant that more people could have died of hunger and starvation than insecurity and COVID-19 put together. “But CBN Anchor borrowers programme stopped it. The result was 4.5m farmers accessing credit of N945 billion without collateral; 5.2m hectares of crops planted and intervention on 21 value chains. Targeted credit facilities of N368.79b (as of Feb 2022) reached 648,052 households and 130,00 MSMEs to support aggregate demand as N1.452trillion of real sector support facility went to boost 337 companies, real sector output, complemented by N134.63b AGSMEIS programme benefiting 37,571 MSMEs.”

AGUSTO & CO PREDICTS 23% RETURN ON EQUITY FOR NIGERIAN BANKS IN 2022 risks undertaken and should remain so in the near term, the rating agency said, “in preparation for the full implementation of Basel III and based on the scheduled growth plans, we expect an increased appetite for perpetual bond issuances which qualify as additional tier 1 capital. We also believe that some banks will raise

common equity tier 1 capital that will keep the Industry’s capital adequacy ratio above 17 percent.” By the end of 2022, Agusto & Co, projects a decline in the Industry’s net interest spread as the prevailing low yields on government securities, which dominate the industry’s investment securities, moderate the impact

of the uptick in interest rates. It added, “However, we anticipate an increase in the net earnings driven largely by higher trading income and electronic banking fees. Nevertheless, we note that the forthcoming elections and growing budget deficit have forced the federal government to modify several extant tax legislations,

which will moderate the banking industry’s profits. “Overall, Agusto & Co expects the Industry’s pre-tax return on average equity to increase to 23 per cent in FY 2022. Our financial prospects for Industry are largely stable in the near term. We adjudge the Industry as resilient and the current trend of banks adopting

the holding company structure to diversify into other financial services segments while exercising control over subsidiaries should support the Industry’s profitability.” On the African Continental Free Trade Area (AfCFTA), Agusto & Co noted that it is also another vital prospect for Nigerian banks given that financial institutions with

a strong capital base and efficient network across the continent are essential for the full implementation of AfCFTA. “Overall, Agusto & Co believes the banking industry’s performance will remain moderate in the short to medium term and on this basis, our outlook for the Industry is stable, “it stated.

FIXED INCOME, CURRENCY MARKETS’ TURNOVER HIT N116.21TRN ON DEMAND, ECONOMIC ACTIVITY subsidy regime, which is estimated to cost the country at least N4trillion this year. According to CSL Stockbrokers, high oil prices imply an increased cost of refined products and Nigeria continues to spend a huge part of its FX earnings on the importation of Petroleum Motor Spirit (PMS) and other refined products due to the complete absence of local

refining capacity. It added, “The country has also failed to increase its non-oil exports despite a few projects introduced by the CBN, such as the RT200 FX programme. Crude oil with decreasing production capacity continues to dominate the export earnings with a total value of N5.62trillon representing 79.16per cent of total exports as of Q1 2022. CBN is unlikely to ramp

up intervention levels at the I&E window in the near term as inflows remain tepid. We project the FX reserves to deplete to $35.00 billion by the end of 2022. “Meanwhile, the current parallel market premium of c.44per cent continues to fuel arbitrage opportunities while FX rationing at the IEW has magnified the demand pressure at the parallel

market. Our prognosis is for the premium to remain widened, as the CBN is yet to resume FX sales to the BDCs, and importers of many items remain barred from sourcing FX from the official window. Also, there has been a surge in demand from FX from an increasing number of Nigerians migrating to the UK, taking advantage of the new immigration laws.”

Also, in its recent report, the Chief Executive Officer, Centre for the Promotion Of Private Enterprise (CPPE), Dr Muda Yusuf had highlighted that the country’ s foreign exchange challenges is fueling inflation, eroding investors’ confidence, aggravating the cost of operations & costs of production and accelerating business mortality. He stated that the major

headwinds to investment performance and economic growth in the last couple of months include, “The worsening foreign exchange crisis reflecting in the sharp and continuous depreciation of the Naira exchange rate. The parallel market rate had depreciated by over 15 per cent in the past three months reaching a low of N590/ dollar currently.”

WEDNESDAY, AUGUST 31, 2022 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Non-Oil Exports as Critical Plank for Ec on o m i c D ive r s i f ic a t io n James Emejo writes on Nigeria’s slow but steady progress towards economic diversification through increasing commitments in the non- crude oil exports segment

here’s no gainsaying the fact that the federal government has sustained its commitment to developing the non-oil economy particularly the export segment in recent times – and the numbers are beginning to go up. Data from the National Bureau of Statistics (NBS) showed that in the first quarter of 2022 (Q1 2022), the country’s total foreign trade increased to N13 trillion, higher than the N11.70 trillion recorded in Q4 2021 and further higher than the N7.86 trillion in Q1 2021. In a marked departure from the previous performance, whereby trade was often dominated largely by imports, leading to a wide deficit - total exports in the period under review stood at N7.10 trillion of which re-exports stood at N115.80 billion, while total imports stood at N5.90 trillion. Also, total exports increased by 23.13 per cent when compared to Q4 2021 and by 137.88 per cent when compared to Q1 2021. Although Crude Oil exports accounted for N5.62 trillion in Q1 2022, the Non-Crude Oil export component totaled N1.48 trillion of total exports which is a significant boost compared to previous performances. Only recently, the Executive Director/ Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, disclosed that total non-oil exports had increased to about $2.60 billion in the first half of the year (January – June 2022), representing an increase of 62.37 per cent compared to about $1.60 billion and $981.44 million recorded in the first half of 2021 and 2020 respectively. The NEPC boss pointed out that the country’s non-oil export sector recorded significant growth as about 4.15 million metric tons of products were exported during the period in spite of the global economic recession that affected most businesses in 2021. Further citing pre-shipment inspection data, Yakusak, said half-year non-oil export performance was the highest since 2018. This development is particularly heartwarming given that over the years, the government’s efforts towards earning foreign exchange through non-crude oil sources appeared not to have yielded positive results. This is particularly worrisome, as the government had initiated several incentives to boost the non-oil export sector without commensurate outcomes. According to stakeholders, the segment was riddled with corruption, bureaucracies by regulatory agencies, lack of innovations, and dearth of funds as well as lack of awareness among other limitations.

ROLE OF NEPC

Essentially, the NEPC remains the apex institution for the promotion, development, and diversification of exports, and has worked over the years to achieve its mandate. The council is among other things, saddled with the responsibility of coordinating and harmonising export development and promotion activities in the country, taking the lead in

all national export programmes, as well as interfacing with international trade agencies on cooperation and capacity building. Export Incentives However, since his appointment as chief executive of NEPC in 2019, Yakusak had launched various initiatives towards promotion of non-oil exports, as well as partnering with all stakeholders to eliminate barriers in the sector. There is no better time to drive the development of the non-oil sector amidst the volatility in the continued reliance on fossil fuels as the main source of government revenue – given that the world is fast transiting from fossil fuel to renewable and clean energy alternatives. Crude oil revenues still account for about 80 per cent of government revenues, subjecting the economy to consistent external shocks resulting from global prices and economic crisis. Nonetheless, the NEPC boss, while presenting the First Half Year Progress Report 2022, also disclosed that the Federal Executive Council (FEC) approved the sum of N375 billion to settle the backlog of claims for 285 beneficiaries under the Export Expansion Grant (EEG) Scheme. The EEG is a post-shipment incentive managed by the council under the Export Incentives and Miscellaneous Provision Act, CAP E19 LFN 2004. The scheme has facilitated the further integration of the informal sector into the mainstream economy through the proper documentation and repatriation of export proceeds by beneficiaries, while the use of value addition as one of the criteria for accessing the fund has contributed to significant investments in the processing of raw produce. Among other things, Nigerian non-oil products like processed leather articles, cashew, cocoa; ginger, rubber, sesame seeds and textiles have earned a distinction in several quality-conscious markets like the European Union (EU) and the USA.

NEW ERA

Yakusak said, “I am optimistic that our vision to make the world a market for Nigerian non-oil export is not just lip service but a commitment to the people. This commitment is borne out of the desire to build a prosperous future for our people through diversification of the Nigerian economy by increasing the basket of exportable products from Nigeria.” He insisted that the country’s survival largely depended on its ability to boost its non-oil exports, and enjoined Nigerians to embrace the council’s “Export4Survival” initiative in order to build a virile economy driven by the sector. The Export4Survival campaign, which was unveiled on his assumption of office

earlier in February, is a strategic initiative to increase awareness of opportunities in the sector and to highlight the benefits of exporting Nigerian goods and services to the overall growth of the gross Domestic Product (GDP). The NEPC boss, also maintained that the current challenges confronting the local currency – Naira – could be simply resolved by strengthening non-oil exports in order to earn foreign exchange to beef up the external reserves, adding that one of the key priorities of his administration was to encourage value addition to raw material exports to be able to earn foreign exchange. The NEPC boss added that during the period under review, different Nigerian products were exported to 112 countries, adding that of the 15 top exported products, urea/fertiliser recorded 32.49 per cent of total exports while cocoa beans, sesame seed, and aluminum ingots contributed 12.65 per cent, 7 per cent and 5.07 per cent respectively within the same period. According to him, 572 companies participated in exporting Nigerian products during the half-year, adding that to facilitate the ease of doing business and seamless documentation processes, the council during the first half of 2022 registered 2,000 companies under its fully automated online registration platform. He said, “I am also elated to inform you that processing time for applications is now 24 hours while 17.3 per cent of applicants were recorded to be womenowned businesses (WOB). The South West recorded the highest figure of exporters’ registration of 851, while the North Central came second with 417 registered exporters.” He added that the NEPC is currently working with the Federal Ministry of Industry, Trade and Investment and other relevant agencies of government to end the rejection of Nigeria’s products in the international market. To this end, he said the NEPC had concluded arrangements to embark on an inter-agency working/fact-finding visit to the United Kingdom to ascertain specific causes for the rejection of imported commodities from Nigeria. He said, “This mission is to provide Nigerian export regulatory/facilitating agencies the opportunity of observing the processes of agricultural commodities import procedures and to also interact with port health and food import regulatory agencies at the border control points in the UK. He said, “We, at the NEPC firmly believe that our survival as a nation depends on non-oil export. We therefore urge Nigerians to join our Export4Survival campaign train with a view to building a virile economy driven by the non-oil export sector.”

IMPROVED PERFORMANCE

According to statistics, over 200 different products ranging from manufactured, semi-processed, and solid minerals to raw agricultural products were reported to have been exported within the first six months of the year. Yakusak said, “It may interest you to note that unlike what was applicable in the past, the trend of products exported from Nigeria is gradually shifting from its traditional agricultural exports to semi-processed/ manufactured goods. The pre-inspection data revealed that manufactured products accounted for 36.28 per cent, raw agricultural products 33.35 per cent, precious stones 13.22 per cent, and others 17.15 per cent.

APPETITE FOR EXPORTS

The implementation of the exporters’ e-registration as part of reforms in the sector had further facilitated the ease of doing business and seamless documentation processes. During the first half year of 2022, the council registered 2, 000 companies under its fully automated online application platform. He said, “I am also elated to inform you that processing time for applications is now 24 hours while 17.3 per cent of applicants were recorded to be Women-Owned Businesses (WOB). The South West recorded the highest figure of exporters’ registration of 851, while North Central came second with 417 registered exporters.” Also, there were lots of trade enquiries/ complaints during the period under review. According to the NEPC boss, a total of 1, 800 phone calls were received with Lagos State accounting for 800, Kano 350 and other states 650 respectively. He said 32.5 per cent of the walk-in-enquiries was on the requirements for obtaining Exporters’ Registration Certificate, 5.37 per cent for grants (EEFP) and the Export Expansion Grant (EEG) while 17.15 per cent were for quality standards for products and how these products can be certified. He said, “A total of 18.9 per cent of e-mails were on supplies of products such as sesame, ginger, turmeric, cashew, peanut oil, soya beans, charcoal, hibiscus flower, ogbono, melon, crayfish to name a few.” The period also recorded significant interest in export activities, as 7.2 per cent of inquiries centered on the African Growth and Opportunity Act (AGOA), Exporters’ Registration 45.6 per cent, Training opportunities/Export Guide 20.34 per cent and 7.5 per cent on office address respectively. Accordingly, the activities and reforms implemented by the council in recent times have stimulated growing interest in exporting activities around the non-oil segment. To achieve greater success, the federal government must be committed to funding and supporting the sector in the interest of economic diversification and job creation for Nigerians.

T H I S D AY ˾ WEDNESDAY, AUGUST 31, 2022

BUSINESSWORLD

NEWS

Eyowo Launches First Mastercard amid Growing Demand for Digitally-driven Money Management Solutions Emma Okonji Today’s generation do everything from ordering meals to scheduling doctor’s appointments on their mobile phones or online. To better meet their needs, Eyowo today unveiled its Digital First payment offering - the Better Card - which is certified by Mastercard. As one of the pioneer partners in Nigeria to join Mastercard’s Digital First Card Program, Eyowo brings a best-in-class digital banking experience to its customers. This includes digital access to card information, unsurpassed payment security and access to a host of payment options (ecommerce, contactless and QR) from any digital device of their choice. Powered by Providus Bank, the Better Card offers customers a seamless payment experience that eliminates the risk of card fraud by safely storing their payment credentials in the Eyowo X mobile app. Eyowo customers can easily apply online and receive their Better Card – including the 16-digit card number and expiration date – digitally. Once activated, the digital cards can be used to make purchases online, in app and at the point of sale through digital wallet offerings. Customers will also receive an innovative physical card, which doesn’t contain sensitive information such as the card number and expiration date, providing ultimate protection for the theft of personal and financial information. “We want to give our customers the freedom to spend without

worrying about losing their hard-earned money by providing a card that keeps their money safe,” said the VP of Products for Eyowo, Ope Adeyemi. “To achieve this, we simply removed the card number and the expiry date on the physical card and made it accessible only via Eyowo X. We thought that this was the single most important improvement that had to be made to the debit card, which is widely known as a predominant channel for account-takeover fraud.” Integrated into the Mastercard Digital First Program, the cards are part of Mastercard’s efforts to enhance the safety and security of online banking and contactless transactions by providing expert guidance to fintech and issuing banks to create end-to-end digital payment options at scale. “Mastercard is committed to bringing 1 billion people into the digital economy by 2025 and ensuring safe and secure digital payments plays a big role in that. In a boundless digital environment, Mastercard has long understood that it is not enough to secure the payment transaction alone but that the safety net must widen to encompass every touch point along the journey. We weave that expertise into our Digital First program, ensuring the highest standards of innovation, quality, security, and privacy,” said Kari Tukur, Vice President, Product Management, Mastercard. Eyowo seeks to help people build an improved relationship with money by redefining each user’s knowledge of saving, spending and investing. Eyowo X mobile app

empowers users with a curated knowledge of their card transactions by providing a daily summary that helps them to keep track of their spending

and subsequently cultivate better financial habits. This is in addition to other in-app features that allow users to manage multiple bank accounts,

Ecobank Nigeria Unveils Special Scheme on Loans and Remittances Nume Ekeghe Ecobank Nigeria has unveiled a special scheme on Back2School loans and remittances for all its customers in a bid to aid, cater to back-to-school needs. The Head, Consumer Banking, Ecobank Nigeria, Korede Demola-Adeniyi in a statement noted that the loan offerings have been developed based on the bank’s understanding of the importance of education and to further support customers with the financial freedom they deserve. She stated that as part of

the scheme, Ecobank will also be providing Back2School gifts to customers when they receive inflows for school fees payment into their domiciliary account, stressing that the bank has consistently shown its commitment and support across various customer segments. Demola-Adeniyi noted that both new and existing individual customers of the Bank can benefit from the scheme, highlighting that this is the perfect time to open an Ecobank account or reactivate dormant ones, in both local currency (LCY)

and foreign Currency (FCY) to enjoy all the benefits of the Back2School Scheme. “According to her, “We are aware that our customers are diverse with different needs and belong to different segments of the society hence we are always coming up with initiatives like this to cater to our various target markets.” In the same vein, the bank is offering competitive rates on FCY inflows whether as fixed deposits or as cash collateral for loans. Speaking on the dynamics of the scheme, Head, Consumer Products, Mrs

Daberechi Effiong, stated that loan offerings are available to all categories of customers in paid and self-employment. “Customers can either opt for the Employee Credit or Cash backed Back2School scheme based on their cash flow. The Cash backed scheme gives customers access to competitive interest rates on their funds while accessing the Back2School loan. For the Employee Loan, customers can access up to N20 million for the purpose of school fees payment. The lowcost loan also comes with flexible tenors, “he said.

Stakeholders Highlight Gaps Hindering Growth in Nigeria’s Civil Engineering Industry Oluchi Chibuzor Civil engineering and Construction industry stakeholders have highlighted the Executive Order Five and Nine as well as inadequate curriculum as gaps hindering the nation from tapping opportunities in the sector. Speaking in Lagos at the American Society of Civil Engineers (ASCE) Nigeria International Section conference, the International Director, ASCE Region 10,

Elias Sayah pointed out the need for industry experts to integrate traditional methods with modern day technology to achieve maximum results. He urged them not to merely focus on acquiring and developing their skills, but rather apply it towards generating environmental and infrastructural solutions to problems concerning the society. “Possessing and implementing soft skills while carrying out our activities

as engineers and builders is crucial towards containing and solving problems on site. “Soft skills like effective communication, good values, and intact integrity are vital for any engineer or builder towards achieving maximum results,” Sayah added. The conference with the theme: ‘Civil Engineering and the Future of the Built Environment; Opportunities and Challenges,’ attracted industry experts.

The President, American Society of Civil Engineers Nigeria International Section, Rasheed Hassan said civil engineers must begin to see themselves as stewards of the natural environment and its resources. According to him, the future belongs to innovators and integrators of ideas and technology across public, private, and academic sectors, managers of risk and uncertainty caused by natural events, accidents, and other

track and control spending, and grow their money. The Better Card has been delivered to 500 users in the first phase of the release and is

now open to the public via the Eyowo X mobile app available for download from the Apple iOS App Store and the Google Play Store.

Coronation Insurance Grows Profit by 295% Ebere Nwoji Coronation insurance Plc said it grew its underwriting profit by 295 percent for the first half of the year 2022, from N892.05 million in the first half 2021 to N3.5 billion in 2022. The insurer made this known in its unaudited half year financial results for the year ended 30th, June 2022 jointly signed by the Group’s Chairman, Mr. Mutiu Summonu, Managing Director/CEO, Mr. Olamide Olajolo, and Executive Director, Finance and Strategy, Mr. Oluwole Onasanya. It stated that its group total underwriting profit/ loss rose from N892.05 million in same H1 2021 to N3.5 billion in H1, 2022. The gross premium written appreciated from N8.314 billion in “H1 2021 to N11.509 billion in same H1 2022, indicating 38.4% growth. The company’s unaudited report

showed that the group’s gross premium income increased by 32.7 percent during the first half of the year under review to N9.290billion as against N6.998 billion recorded in the corresponding period of H1 2021. The insurance firm said it earned net premium income of N5.7 billion during the first half of 2022 when compared to N4.6 billion reported H1, 2021. The insurance firm said it earned Gross Premium income of N40.573 billion from N5.7 billion achieved in first half of 2021 while total claims paid for first half of 2022 stood at N3.2 billion when compared to N2.9 paid in H1 2021. The insurer was able to reduce its net claims expenses from N2.9 in H1, 2021 to N1.4 billion H1, 2022. The group’s net income grew to N4.6 billion for the first half of 2022 as against N2.8 billion reported in same period of H1, 2021.

Q 1 : U n ive r s a l I n s u ra n c e Announces N4.1bn Premium Universal Insurance Plc, has announced total premium of N 4.1 billion during the first half of 2022 which ended 30th June 2022. The figure, according to the company, is far above what was achieved in the whole of year 2021. Premium income at the end of 2021 rose to N3.4 billion, while a total sum of N459 million was paid as claims. The company’s Managing Director and Chief Executive officer Dr. Benedict Ujoatuonu, disclosed this at the inauguration of the new executive members of National Association of Insurance

and Pension correspondents (NAIPCO) recently in Lagos. Ujaotuonu, who was represented at the occasion by the Company’s Secretary and Head of Corporate Communications Department, Chinedu Onyilimba, said second half of 2022 showed a profit after tax of N796 million and a total claims paid of N348 million. He said the performance was made possible as a result of aggressive moves in driving its business development especially by providing special tailor-made products in their retail operations.

WEDNESDAY, AUGUST 31, 2022 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

Consolidated Bill and Future of Insurance Sector The Consolidated Insurance bill has been on the table of Nigerian lawmakers for over 12 years waiting for passage. Ebere Nwoji looks at the impact of the delay to the advancement of insurance

he 2020 consolidated insurance bill when passed into law is expected to effect a lot of changes in the insurance sector narrative. Indeed, the bill holds a lot for the industry as expectations are high that the long awaited bill when passed into law would redefine the industry, strengthen it from the weaknesses of the moribund insurance Act 2003 and place the industry on the global best practices pedestal. Insurers believe this and have thus continued to pursue the passage of the bill with vigor. At a recent press briefing in Lagos ahead of the Annual General Meeting of the Nigeria Insurers Association, the association’s Chairman, Ganiyu Musa, said that insurers were closely monitoring developments on the Consolidated Insurance Bill and would continue to pursue same doggedly until it is finally passed into law. Musa said, “The Association has participated in all the processes thus far and would continue to monitor developments in respect of the bill as it receives legislative attention.” According to him, it is expected that the new law will have a positive impact on the insurance space in Nigeria and align it with global best practice. “We must acknowledge the cooperation received from the Speaker, Federal House of Representatives, Rt. Hon. Femi Gbajabiamila, Chairman and members of the House Committee on Insurance and Actuarial Matters, National Insurance Commission (NAICOM) and other stakeholders in the journey thus far. “We remain cautiously optimistic that the Bill will be signed into law before the tenure of the 9th National Assembly lapses.”

ENGAGEMENT WITH GOVERNMENT He also said the association has scaled up its engagements with the government with a view to creating more understanding of the importance and role of insurance in the national economy. Musa said under the engagement process, his team has had engaged representatives of Federal Ministry of Finance, Budget And National Planning, the office of the Head of Service and the Accountant General’s Office on the issue of provision of appropriate data and payment of premium on Insurance of government assets. This he explained was to ensure that matters

of common interest were discussed and agreed to avoid friction. “We thank the Commissioner for Insurance and the entire management of the Commission for the excellent relationship and support received,” he also said.

ISSUES ADDRESSED BY BILL To the NIA Chairman, one of the foremost issues the bill has settled was the definition of capital in insurance domain. Before now the issue of capital has been a controversial point between the operators and the regulator. This has resulted in cancellation of several proposed recapitalisation exercises in the industry. THISDAY notes that several attempts by NAICOM to conduct peaceful and successful recapitalisation exercise in insurance sector were often foiled by controversy over what constitutes capital for insurance industry. Last recapitalisation exercise in the industry was done in 2007, since then several attempts to conduct fresh round of capital increase has been marred by controversies. In one of the attempts, the controversy took this shape: while the industry operators insisted that fixed assets of individual firm should be valued and included in its capital, NAICOM the regulator said no, arguing that rather than this, firms should irrespective of their assets base and value get liquid capital to the minimum tune specified by the new capital regime while its fixed assets stands alone. The commission argued that this should be so because there were firms with strong fixed asset base but without liquid cash to drive their businesses and all efforts to convert the fixed assets to liquid cash has been difficult. The commission argued that such firms found it difficult paying claims and has been denting the image of the industry irrespective of their strong asset base. But the 2021 finance Act spelt out what should constitute capital in insurance industry thereby putting to rest these arguments. Commending the federal government on the Act, Musa said, ”We are delighted

to report that with the President’s assent to the Finance Act 2021, we now have a more acceptable definition of capital. Prior to this time, the definition of Capital in Insurance Act 2003 was defective and highly restrictive. “We appreciate the Hon Minister of Finance, Budget and National Planning, Commissioner for Insurance, KPMG and members of our association for their support in seeing this process through. We are optimistic that this major milestone achievement has removed the major encumbrance on the recapitalisation exercise, ”the NIA Chairman said. He said the association was closely monitoring developments on the Consolidated Insurance Bill 2020 and would continue to pursue same doggedly until it is finally passed into law. “The association has participated in all the processes thus far and will continue to monitor developments in respect of the bill as it receives legislative attention. It is expected that the new law will have a positive impact on the insurance space in Nigeria and align it with global best practice. “We must acknowledge the cooperation received from the Speaker, Federal House of Representatives, Rt. Hon. Femi Gbajabiamila, Chairman and members of the House Committee on Insurance and Actuarial Matters, National Insurance Commission (NAICOM) and other stakeholders in the journey thus far. “We remain cautiously optimistic that the bill will be signed into law before the tenure of the 9th National Assembly lapses”, he stated.

FG’S POSITION At his conferment ceremony as the grand patron of the Chartered Insurance Institute of Nigeria (CIIN) President Muhammadu Buhari had given the insurance industry his word that the Consolidated Insurance Bill 2020 would be given immediate attention once it gets to his desk. “Once the National Assembly has finished the process of reviewing the Consolidated Insurance Bill 2020 and is forwarded to me, I will speedily subject it to the necessary executive checks and sign it into law,’’ the President said, in a statement signed by presidential

spokesperson Femi Adesina. The consolidated Insurance bill now with the lawmakers was submitted to the National Assembly in 2010 with a view to fast track an executive bill to the National Assembly that will facilitate passage of the bill into law. Professor Joe Irukwu in 2008 led a committee that were charged with the responsibility of looking into the existing law and come out with suggestions on a legislation that will drive the industry in this 21st century. The commissioner for insurance Mr. Sunday Olorundare Thomas, is of the view that the review of the existing law which was insurance Act 2003 would have a great impact in the operation and development of insurance industry in Nigeria. According to him, it will give legal backing to the solid foundation already laid by NAICOM. Former President of Nigerian Corporation of Registered Insurance Brokers Mr. Shola Tinubu had said that review of the insurance act was of utmost important to the insurance as the future of the industry lies much there. According to him the prevailing law has a lot of weaknesses and can no longer drive the industry in the present century. Former Chairman NIA and Managing Director Consolidated Hallmark Insurance, Eddie Efekoha noted that weakness of the existing law was part of the industry’s problem and has been encouraging some of the vices happening in the industry. One of these, according to him, is the low amount of fine to be paid by offenders of some of the laws such as third party insurance or compulsory builders insurance, adding that it does not encourage compliance.

RECOMMENDATIONS One of the recommendations of the industry operators in the bill is the reintroduction of Risk Based Supervision capital model describing it as the right capital model for the insurance industry in order to align the industry with international best practices and reposition it for accelerated growth and development. Risk based capital is a method of measuring the minimum amount of capital appropriate for a reporting entity to support its overall business operations in consideration of its size and risk profile. Another recommendation of insurers in the bill is N5 million fine for fake insurance certificate perpetrators.

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

28 T H I S D AY WEDNESDAY AUGUST 31, 2022 TR

UT H

& RE A S O

Wednesday August 31, 2022 Vol 27. No 10004

opinion@thisdaylive.com

www.thisdaylive.com

ATIKU’S DISRUPTIVE AGENDA FOR THE EDUCATION SECTOR Atiku will strengthen the education system in a manner that makes it more efficient, writes PHRANK SHAIBU

See page 29

ASUU STRIKE: TIME FOR A HOLISTIC SOLUTION ALIYU IBRAHIM canvasses a realistic funding model for the universities

See page 29

EDITORIAL THE RISING COST OF OIL SPILLS

See page 30

5G will serve as a game changer for internet connection in Nigeria, reckons SONNY ARAGBA-AKPORE

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T H I S D AY WEDNESDAY AUGUST 31, 2022

ALIYU IBRAHIM canvasses a realistic funding model for the universities Atiku will strengthen the education system in a manner that makes it more efficient, writes PHRANK SHAIBU

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ASUU STRIKE: TIME FOR A HOLISTIC SOLUTION

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result in low morale and ultimately, the VWDͿ OHDYLQJ WKHVH LQVWLWXWLRQV IRU JUHHQHU SDVWXUH EHIRUH WKH FRXQWU\ LV DEOH WR UHDS IURP LWV LQYHVWPHQWV LQ WKH VWDͿ 7KHVH SUREOHPV FRXOG UHVXOW LQ EUDLQ GUDLQ LQ WKH XQLYHUVLW\ V\VWHP Despite the repeated strikes by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ÀOO LI LW VR ZLVKHV WR RSHQ D XQLYHUVLW\ $ GDWDEDVH IRU DFDGHPLF VWDͿ VKRXOG EH HVWDEOLVKHG WKLV LV ZLWK D YLHZ WR FRQWURO DFDGHPLFV IURP WDNLQJ XS PDQ\ YLVLWLQJ DSSRLQWPHQWV DW D SDUWLFXODU WLPH IRU TXDOLW\ FRQWURO $ PLQLPXP EDVH SD\ VKRXOG EH HVWDEOLVKHG IRU HDFK DFDGHPLF UDQN ZKLFK ZLOO EH UHYLHZHG SHULRGLFDOO\ WKHQ XQLYHUVLWLHV FDQ EH DOORZHG WR À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brahim, Ph.D., aliyudanmusa@gmail.com

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T H I S D AY

WEDESDAY AUGUST 31, 2022

EDITORIAL

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

THE RISING COST OF OIL SPILLS Oil spill does so much damage to the economy and the environment

economy and security are quite enormous. he mangrove forest of Nigeria is the third The damage to the Niger Delta environment is largest in the world and the number one huge, particularly with the tragic loss of lives and in Africa. Over 60 per cent of this forest livelihoods, which would have been avoided if is in the Niger Delta. The freshwater only the laws and regulations prescribed for safe swamp forests of the region boast high H[SORUDWLRQ RI RLO ZHUH DGKHUHG WR %XW LW LV DOVR biodiversity characteristic of extensive important to understand and put in context the swamp and forest areas, with many unique species fragile nature of the region and how practically every of plants and animals. Unfortunately, in this once GURS RI IUHVKZDWHU IDXQD DQG Á RUD DV ZHOO DV WKH pristine environment, oil spills have taken a deadly communities have been adversely impacted, without WROO RQ À VK VKHOOÀ VK DQG RWKHU PDULQH OLIH 6KULPS hope of reversal. DQG R\VWHU À VKHULHV DUH DOVR FDVXDOWLHV The oil companies are also to blame in all of this Environmental rights activists have raised serious because of their aging pipelines and well heads concerns over continuous degradation in the Niger that leak which are never Delta, with the total replaced, in violation of value of spilled oil within the laws governing oil one year in this tender Experts have described the spill as a major disaster that exploration in Nigeria. ecosystem estimated at These regulations are that N711 billion. Nigerian Oil threatens ecologically sensitive wetlands, killing ﬁsh, oil companies should 6SLOO 0RQLWRU 1260 “adopt all practicable an arm of the National shrimps, and other marine lives, as well as birds precautions, including the 2LO 6SLOO 'HWHFWLRQ provision of up-to-date and Response Agency equipment” to prevent 126'5$ UHYHDOHG WKDW T H I S D AY pollution, and must take “prompt steps to control a total of 24,000 barrels of crude oil was spilled by 18 EDITOR SHAKA MOMODU and, if possible, end it,” if pollution does occur. À UPV LQ 6SHFLÀ FDOO\ DFFRUGLQJ WR 1260 WKHUH DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA They must maintain all installations in good repair were about 383 publicly available oil spill records MANAGING DIRECTOR ENIOLA BELLO and condition in order to prevent “the escape or DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU last year, and 33 of their sites were not visited by a CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI avoidable waste of petroleum” and to cause “as little Joint Investigation team. They added that 122 of these EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN damage as possible to the surface of the relevant area had no estimated quantity of oil spilled provided by MANAGING EDITOR BOLAJI ADEBIYI and to the trees, crops, buildings, structures and other 126'5$ %XW EDVHG RQ UHSRUWV DYDLODEOH THE OMBUDSMAN KAYODE KOMOLAFE properties thereon.” EDUUHOV RI RLO OLWUHV ZHUH VSLOOHG ZKLFK There is already an emergency. People in these LV DERXW RLO WDQNHU WUXFNV IXOO DͿ HFWHG FRPPXQLWLHV QHHG LPPHGLDWH DVVLVWDQFH Oil theft is also contributing to the degradation of the T H I S D AY N E W S PA P E R S L I M I T E D to enable them cope in their polluted environment. HQYLURQPHQW %HWZHHQ WR 0DUFK DFFRUGLQJ EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA Experts have described the spill as a major disaster WR 126'5$ 1LJHULD UHFRUGHG RLO VSLOOV PRVWO\ GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, that threatens ecologically sensitive wetlands, killing ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI as a result of oil theft which the federal government DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, À VK VKULPSV DQG RWKHU PDULQH OLYHV DV ZHOO DV ELUGV KDV DGPLWWHG WR EH FRORVVDO 6HYHUDO VWDWLVWLFV KDYH ANTHONY OGEDENGBE %XW PRUH GLVWXUELQJ LV WKDW RI WKH OLYHOLKRRG RI SHRSOH emphasised Nigeria as the most notorious country in DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI in these communities that is threatened as their main the world for both oil theft and spills, losing roughly SNR. ASSOCIATE DIRECTOR ERIC OJEH VWD\ ZKLFK LV FRPPHUFLDO À VKLQJ ZLOO KDYH WR EH SXW EDUUHOV SHU GD\ ,W LV IROORZHG E\ 0H[LFR ASSOCIATE DIRECTOR PATRICK EIMIUHI on hold for a long time. If adaptation strategies are not CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI WKDW KDV UHSRUWHG RQO\ WR EDUUHOV RQO\ DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO handled properly, the situation may cause avoidable SHU GD\ WKXV D GLͿ HUHQFH RI DERXW SHU FHQW TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com GLVSODFHPHQW RI SHRSOH DQG ZRUVH VWLOO FRQÁ LFW The consequences on the local people, the national

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

LETTERS MUCH ADO ABOUT OSUN LG ELECTIONS 7KH 2VXQ ,QGHSHQGHQW (OHFWRUDO &RPPLVVLRQ 26,(& KDV DQQRXQFHG 2FWREHU DV WKH GDWH IRU ORFDO JRY ernment and local council development area elections DFURVV 2VXQ 6WDWH $FFRUGLQJ WR WKH FRPPLVVLRQ ´DOO WKH inhibiting factors and circumstances against the conduct of the elections have been ameliorated.” +RZHYHU WKH 2VXQ 6WDWH &KDSWHU RI WKH 3HRSOHV· 'HP RFUDWLF 3DUW\ 3'3 KDV YRZHG WR ER\FRWW WKH HOHFWLRQV EH cause they would “be wasteful” as well as run afoul of “the SURYLVLRQV RI 6HFWLRQ RI WKH (OHFWRUDO $FW µ From the look of things, Osun PDP seems to be a lone ranger as other political parties have concluded plans WR À HOG FDQGLGDWHV IRU WKH HOHFWLRQV $FFRUGLQJ WR WKH ,Q WHU 3DUW\ $GYLVRU\ &RXQFLO ,3$& WKH ¶XPEUHOOD· SDUW\ ´LV just one out of 18 political parties in the state.” As such, “its DFWLRQ « QHLWKHU DͿ HFWV WKH LQWHJULW\ QRU WKH FUHGLELOLW\ RI the scheduled elections.” In the events leading to the January 27, 2018 LG elecWLRQV , KDG ZULWWHQ DQ DUWLFOH HQWLWOHG ¶2VXQ DQG WKH JRV SHO RI SDUOLDPHQWDU\ GHPRFUDF\· WR FRPPHQW RQ 6HFWLRQ RI WKH /RFDO *RYHUQPHQW $GPLQLVWUDWLRQ /DZ &DS $ 9RO /DZV RI 2VXQ 6WDWH DV DPHQGHG ZKLFK

DW WKH WLPH FRQVWLWXWLRQDOO\ UDWLÀ HG SDUOLDPHQWDU\ V\VWHP of government for local governments in the state. The law KDV QRZ EHHQ UHSHDOHG WR SDYH WKH ZD\ IRU D QHZ ODZ ¶7KH 6WDWH RI 2VXQ /RFDO *RYHUQPHQW $UHDV &UHDWLRQ DQG $G PLQLVWUDWLRQ $PHQGPHQW QR /DZ · KDV UHWXUQHG WKH presidential system to local government administration in WKH VWDWH $ QHZ ODZ ¶7KH 2VXQ 6WDWH ,QGHSHQGHQW (OHFWRU DO &RPPLVVLRQ /DZ · ZDV DOVR HQDFWHG WR DOORZ 26,(& to “have its own law to guide and regulate its conduct.” 2I D IDFW 1LJHULD·V SROLWLFDO WUDMHFWRU\ IURP WLOO GDWH - is one that has culminated in the current chaos, lack of development and all sorts of social malady in our society. They are all the combined results of the kind of politics we KDYH SOD\HG )RU LQVWDQFH LQVWHDG RI SUHDFKLQJ À UH DQG brimstone sermons, condemning the Constitution-backed SROOV ZK\ FDQ·W 2VXQ 3'3 ZRUN DW SXWWLQJ LWV KRXVH LQ RUGHU" )RU *RG·V VDNH LW·V OHVV WKDQ WZR PRQWKV WKDW WKH SDUW\ DUJXDEO\ ZRQ 2VXQ JRYHUQRUVKLS HOHFWLRQ 6R ZKDW has suddenly changed? If it is that solid on ground; and, if LW LQGHHG ZRQ WKH SHRSOH·V KHDUWV WKHQ LW VKRXOGQ·W EH GLI À FXOW WR UHSOLFDWH WKH ZLQLQJ PDJLF H[FHSW WKHUH LV PRUH WR it than it is willing to tell the masses. It makes no sense that

the party is anxiety-stricken simply because the incumbent governor, whom its candidate just defeated, is planning an election. What if at the end of the ongoing litigations, the court rules that there should be a rerun of the last gubernatorial election, does it mean that Osun PDP is not so sure that it will win? As for the legality or otherwise of the polls, let Osun PDP stop its terrifying screams and allow a court of competent jurisdiction to adjudicate on the matter. Essentially, instead of needlessly heating up the polity and expanding the frontiers of groundless rumours, it should tread the path of PDWXULW\ 7KDW·V KRZ WR PDNH RXU GHPRFUDF\ ZRUN While Osun PDP may be afraid of a woeful loss, should it partake of the elections, it is not in doubt that some members of the ruling party must have by now seen the folly RI WKHLU FRQWULEXWLRQV WR WKH SDUW\·V XQLQVSLULQJ RXWLQJ RQ July 16, 2022 and may want to tap into the anointing of the forthcoming exercise to salvage the situation. And we all NQRZ ZKDW WKDW PHDQV Abiodun Komolafe, Ijebu-Jesa, Osun State (ijebujesa@yahoo.co.uk)

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

T H I S D AY ˾ DAY AUGUST 31, 2022

EDUCATION Creating A Sustainable Fit-for-Purpose Education Model With the 2022 Lagos Education Summit, held, recently, and designed to provide the opportunity to explore education as a critical tool for economic development, the government said is poised to create a sustainable fit-for-purpose education model. Funmi Ogundare reports

L-R: Chairman, House Committee on Education, Lagos House of Assembly, Mr Okanlawon Sanni; Finnish Ambassador for Education, Amb. Marjaana Sall; Representative, Lagos State Governor, Mrs Folashade Jaji; Commissioner for Education, Mrs Folasade Adeﬁsayo; British Council Country Director, Mrs Lucy Pearson; Special Adviser to the Governor on Education, Mr Tokunbo Wahab; Vice Chancellor, Pan Atlantic University, Nigeria, Prof. Enase Okonedo; Managing Director, Sterling Bank, Mr Abubakar Suleiman and Chief Executive Oﬃcer, Nigerian Economic Summit Group (NESG), Mr Laoye Jaiyeola during the Lagos State Education Summit 2022 held recently

he Lagos State government recently held the 2022 Education Summit, as part of efforts to re-evaluate the state of education through mobilising the needed engagement to deliver learning for sustainable development. The two-day programme with the theme, ‘Creating A Sustainable Fit-for-Purpose Education Model’, saw various stakeholders deliberating on ‘Future of Education’, Emerging Technologies in Education’, ‘Leveraging Technology for Quality Higher and ‘Teacher Education’. ln her remarks, the Commissioner for Education, Mrs. Folashade Adefisayo highlighted some of the objectives of the summit, including learning from best practices and successful education systems in a bid to create a practical roadmap towards the growth of education in the state; building momentum for long term strategies, collaboration and engagement while fostering knowledge exchange, financing and partnership. She expressed concern about the embarrassing number of out-of-school children in the country, saying that the country should be ready to think critically in order to innovate and solve difficult problems. She expressed optimism that one day, the state will have people who are competent bricklayers, project managers and CEOs at the

construction site, who are residents of Lagos, and are product of homegrown, sustainable ‘Fit-for-purpose education system’. “We want to leave here with practical and implementable solutions that can be used in building the workforce that will power the Lagos State Economic Development agenda; where we will hire competent Lagosians,” the commissioner said. Panelists at the summit who emphasised on solution-based perspectives and the need for collaboration between the private and public sector, stressed the need for coding for primary and secondary school pupils. They also said the government should continue to invest in education and have functional computer laboratories in its schools Governor Babajide Sanwo-Olu, who participated virtually, thanked the ministry of education and its agencies for putting the programme together, while expressing hope that its set objectives would be achieved. “Education for us, is a must

for all,” he said, adding that it is one of the dividends of democracy, one of the tools and legacy the country can bequeath to generations, as well as a cardinal objective of government. He highlighted the investment his administration has made in the education sector, saying that it is beginning to see success especially in the SSCE result of students. “We hope that will be sustained and pupils will continue to excel,” he said, adding that the state will make moves to ensure that out-of-school children are back into schools. In her remarks, the guest lecturer and the Vice-Chancellor, Pan Atlantic University, Prof. Enase Okonedo commended the state government for the initiative, saying that education can transform lives in many ways. She expressed hope that the programme will not just be a talk-shop but for everyone to take affirmative actions by thinking of how to invest in the future. “If we recognised the importance of education, then it is something all have to participate in.” She emphasised on value-based education that will ensure that knowledge is acquired, with morals and characters built, saying that these are the things needed for the growth and development of the nation. She encouraged decision and policy makers to begin to think of the kind of curriculum that will be fit-for-purpose, which will also

put into consideration the students that will be taught, developing the teachers that would be using the curriculum, and bridging the digital divide. “How does our curriculum attend to some basic skills that employers need? We need to learn by doing and think of how we can use technology for learning and have people who would be globally competitive,” the VC stated. Speaking with journalists, the Chairman, Lagos State Universal Basic Education (SUBEB), Mr. Wahab Alawiye-King, said its goal is to ensure that the future belongs to everyone as collaboration is key. “From the solution given by different speakers, it is obvious that we need collaboration to take education to a greater heights. We are talking about fit-for-purpose, an important component is to be able to be able to determine and focus on the goal.” He said the country needs the kind of education that is designed to meet the challenges of now. The chairman expressed optimism that stakeholders will key in to the advice and work with it, adding that the programme will not be a talk-shop but one that will have actionable resolution at the end of the day. He said primary and secondary education are important in determining the tertiary level at the end of the day.

Osun University Wins Six $300,000 Research Grants, Gets Full MBBS Accreditation Yinka Kolawole ÓØ ÝÙÑÌÙ

The Nigerian Medical and Dental Council (NMDC) has given full approval and accreditation to Osun State University, UNIOSUN’s Bachelor of Medicine, Bachelor of Surgery (MBBS) programme. Briefing journalists at the weekend in the University Conference Room, the ViceChancellor, Prof Clement Adebooye, expressed delight that the NMDC not only approved the MBBS programme but also increased the admission quota for the programme from 50 to 100. According to him, this has placed UNIOSUN’s MBBS programme at par with top Nigerian federal universities training medical doctors. The 100-quota could be increased further if the university can address two deficiencies

within six months. Osun State University started the MBBS programme with the approval of the National Universities Commission in 2012. The programme had to be discontinued shortly after due to some operational challenges. The discontinuation led to the transfer of the enrolled students to Ukraine by the state government to complete their programmes. The university revisited the issue under the vice-chancellorship of Prof Labo Popoola, my immediate predecessor, and decided to take the bull by the horns. The institution re-started the programme in 2018 with the admission of the pioneer set of

students. In May this year, a powerful accreditation delegation from the Nigerian Medical and Dental Council (NMDC), led by the council’s registrar, Dr Tajudeen Adisa Bolanle Sanusi, visited the university to assess our resources, capacity and readiness for the programme. In another development, Adebooye informed that the institution had six grants of $300,000 in the last eight months through a team led by Monsuru Adeleke, a professor of Public Health Entomology and Parasitology. He remarked that the university had won a research grant of $101,000 from the Bill and Melinda Gates Foundation. The study, titled ‘Entomological Parameters Towards Understanding Urban Malaria in Kano and Ibadan Nigeria’, will involve North-Western University, USA; Osun State University, Osogbo; University of Ibadan,

Ibadan; and Bayero University, Kano. The university won one of the nine Leeds University Centre of African Studies and the Leeds Arts and Humanities Research Institute Fellowships for 2022 (LUCASLAHRI). The grant was valued at £30,000, with the University of Leeds providing £1,000 and UNIOSUN supplementing with £2,000 through an earlier grant from the European Research Council. The university also had a solid collaboration with the Centre for Africa Studies, Harvard University. Integration of UNIOSUN College of Humanities and Culture Seminar Series into the Harvard University African Studies Workshop. Staff Members from UNIOSUN are given the opportunity of virtual participation and presentation of their papers under the Harvard University African Studies Workshop Series.

T H I S D AY ˾ DAY AUGUST 31, 2022

EDUCATION

NLNG Sponsors 10 for FSTC Principal Harps on Collaboration for Overseas Postgraduate Studies Skills Acquisition, Industrialisation Blessing Ibunge in Port Harcourt

International Liquefied Natural Gas giant, Nigeria LNG, has awarded full scholarships to 10 Nigerian youths for their postgraduate studies abroad. The beneficiaries were awarded the 2022 scholarship to further their education at two prestigious universities in the United Kingdom, the University of Aberdeen and Cranfield University, Scotland. The awardees, seven males and three females, will specialise in mechanical engineering, sustainability transition, oil and gas law, environmental energy, data science, renewable energy, global health and management, and international business management. The 10 scholars emerged the most successful from a rigorous screening in which 921 candidates across the country participated. The postgraduate scholarship scheme is one of the different scholarships, namely post-primary, undergraduate and postgraduate, run by the Nigeria LNG and is worth USD67,500 each. Speaking at the awards presentation ceremony in

Port Harcourt on Monday, Andy Odeh, NLNG’s General Manager of External Relations and Sustainable Development of Nigeria, said the company established the scholarships “to encourage academic excellence and support human capital development in its immediate areas of operations and Nigeria in general.” He added, “The Overseas Postgraduate Scholarship Scheme was launched in October 2012 to support deserving Nigerians in acquiring postgraduate education in leading universities in the United Kingdom. The scheme has a financial value of $67,500 per awardee per programme, which covers tuition, accommodation, a thesis project and living expenses.” Ninety-two persons have benefited from the scheme so far. He further beneficiaries to mirror the company’s core values of safety, integrity, teamwork, respect, excellence and care. Speaking on behalf of the beneficiaries, Dr Vivian Magboh thanked NLNG for allowing them to participate in the 2022 postgraduate scholarship programme abroad.

Uchechukwu Nnaike

The principal of the Federal Science and Technical College (FSTC) Yaba Lagos, Mr David Omada, has emphasised the need for collaboration between academics and industry to equip students with the requisite skills for self-reliance and industrialisation. Speaking at the valedictory service for about 800 outgoing students of the class of 2022, Omada stated that skills acquisition is key to industrialisation. “The more skills the students can acquire, the more they can contribute positively to the industrialisation of the country,” said Omada. “Smallscale businesses are key drivers of industrialisation, and when these graduates get employed or start their own businesses, that will drive the economy and industrialisation.” He highlighted a number of ongoing projects by corporate

organisations at the college, which he said are gradually taking the college to its desired height. According to him, one of the companies is Axxela Nigeria LTD., which is renovating the Fabrication and Welding Department. “We are expecting another company, courtesy of the SBMC Chairman, Hon Ladi Lawanson, to come and renovate our Automobile Workshop,” he added. Omada said the school is also expecting a World Bank IDEAS project to renovate and equip the construction workshops, comprising building construction, carpentry furniture, concreting, fabrication and welding, painting and decoration. He stated that the collaborations would positively impact skills acquisition in the college. The principal said his administration began the construction

of a 12-room science laboratory, which would be completed before a new academic session in September. According to him, nine classrooms are under construction, which will also be completed soon, and the renovation of the assembly hall, among other projects. While commending the staff for their efforts, he said the school had recorded excellent results in WAEC, BECE and JAMB, adding that some students scored over 300 in the last UTME. Omada urged the outgoing students to be good ambassadors of the college and strive to hold their own anywhere they find themselves. In his remarks, Lawanson regretted that vocational and technical education was an aspect of the country’s economy yet to be unleashed. “I think we have this unidirectional mindset that

everybody must be a whitecollared job professional, which is not true. It is not realistic to our national objective,” he pointed out. Lawanson added that propelled his desire to help bring as much awareness and support to that key sector, which will help unlock the potential of Nigerian youths. “The first is the renovation of the Welding and Fabrication Workshop, which we have reached out to an oil and gas company, Axxela Nig. Ltd, not only in terms of renovation of the workshop to the tune of N23 million,” he explained. “It is also to be able to make linkages between what we are teaching them here and the industry out there. So part of the attraction is that once they have been trained properly, we will now make the linkage for them to be employed there as required.”

ICT Skills Compulsory in FCET Umunze, Says Provost The Provost, Federal College of Education (Technical) Umunze, Anambra State, Dr Theresa Okoli, has stressed the need for ICT skills among students to compete favourably in this digital age. She said computer literacy had become compulsory for staff and students to meet the evolving world’s expectations. The provost stated this while addressing newly admitted students of the college during the 33rd NCE/11th joint matriculation ceremony for the 2021/2022 academic session held at the Convocation Arena. Five hundred sixty-two students were admitted into the NCE degree and Professional Diploma in Education (PDE). While congratulating the students on their successful admission into the college affiliated with Nnamdi Azikiwe University, Okoli said her vision is to introduce digital classrooms to all college academic programmes. According to her, deploying ICT tools in classrooms would make learning more interactive and enhance the quality of output. She expressed gladness that the focus on ICT in the college was gaining attention, with the Teachers Registration Council of Nigeria (TRCN) rating the institution high in ICT facilities and resources. Okoli noted that the college enjoys an uninterrupted academic calendar that enables students to graduate in record time. Okoli, also the National President of the Association of Women in Colleges

of Education in Nigeria, explained that the college places a high premium on entrepreneurship in fulfilling its motto: ‘To educate for self-reliance’. The provost said the college would continue to provide a fertile environment for excellence to thrive and charged the new students to emulate the outstanding academic performance of Miss Ezugwu Chinenye of the Department of Early Childhood Education, who won the 2020/2021 Federal Government scholarship for students in tertiary institutions. Also worthy of emulation were Miss Onuorah Deborah Chinelo of Computer Maths, that won the MDGs/SDGs female scholarship in 2019, Miss Nwafor Blessing, Miss Ibemeka Favour Ozioma and Mr Samuel Chiemerie, that have secured federal government scholarships for their brilliant academic records in the college. Also speaking, the ViceChancellor of the Nnamdi Azikiwe University Awka, Prof Charles Okechukwu Esimone, urged the students to study diligently. As part of the matriculation ceremony, the Parents Management Forum led by Chief Don Uka was held at Dr Alex Ekwueme Auditorium. During the interactive session with the college management, excited parents commended the leadership of the college for the high moral standard of the institution, as well as the improvement in learning facilities.

L-R: The President of the Olori Francis Meshioye Foundation, Prof. Joe Abugu, SAN; the founder, Olori Francis Meshioye; the Vice-Chancellor, University of Lagos, Prof. Oluwatoyin Ogundipe, and outgoing Head, Department of Philosophy, Prof. Douglas Anele, at the inauguration of some legacy projects at the department... recently

OFM Foundation, Others Execute Legacy Projects in UNILAG Uchechukwu Nnaike

As part of efforts to boost teaching, learning and community service and leave a legacy behind, the former head of the Philosophy Department, University of Lagos, Prof Douglas Anele, inaugurated three legacy projects last week. According to Anele, the refurnishing of the departmental seminar room was facilitated by the Institute for African and Diaspora Studies, UNILAG, through the Director, Prof Olu Falaiye, a colleague in the department.

He said the Olori Francis Meshioye (OFM) Foundation undertook a complete refurnishing of the postgraduate lecture room, while the refurnishing of the head of the department’s office was achieved with the little resources of the department and his funds. With the renovation, he stated that the department can now boast the best postgraduate lecture room among public universities in the country. Anele said though his tenure as HOD (August 1, 2019, to July 31, 2022) was marred by

COVID-19, a series of strikes and ill-health, he still managed to execute some legacy projects that would serve as a template for his successors to try their best to make sure they leave a legacy project behind. He expressed satisfaction with the quality of the job done, saying that the furniture could last for over a decade because he ensured that the best was used in line with the tradition of the university. In his remarks, the foundation’s founder, Olori Francis Meshioye, said the gesture was part of its mission to foster

African culture. He described culture as the only weapon potent enough to guide the younger generation and the country to its muchanticipated greatness. “You don’t scold your children because they speak your native language because it is this local language that gives them the sense of integration and makes them unique,” she explained. “There are things one cannot change through translation but when it is said in the local language, the children would have deep understanding of it.”

Lagos Empowers Final Year Students on Employability, Entrepreneurship Skills Funmi Ogundare

The Office of the Special Adviser on Education recently held the Jobs Initiative Lagos, designed as a complimentary training in entrepreneurship, employability and basic digital skills required for the workplace for penultimate and final year students in eight state-owned tertiary institutions. The objective is to fill the documented gaps in the current curriculum, which will be

essential in the employment market and enhance the employability of graduates. Speaking at the programme held at Lagos State University ( LASU), Ojo, the Vice-Chancellor of the institution, Prof Ibiyemi Bello, represented by Deputy Vice-Chancellor (Administration) Prof Adenike Boyo, noted that it was aimed at ensuring that students acquire the skills, get trained and have the right mentorship to succeed in their chosen career.

She recalled that the previous year witnessed students who got jobs in oil companies while congratulating them ahead. At the programme, which witnessed panel discussions, various speakers from different organisations admonished the students to have the right skills and passion for helping them achieve their ambitions. In his remarks, the head of the Department of Small Scale Enterprise, National Directorate of Employment, Dr Chidiebere

Igbokwe, emphasised how they could drive innovation through entrepreneurship. A representative of Chattered Institute of Personal Management ( CIPM), who spoke on ‘The New Generation of Jobs: Being a Team Player’, noted that the world of work is not just about one’s qualifications but skills and attitude. He stated that every employer is seeking employees who would be able to add value to their business.

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

T H I S D AY ˾ ͱͯ˜ 2022

IMAGES

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

L-R: Lecturer, Faculty of Performing Arts, Amàchre University, Benin Republic, Professor Ekata Rosemary Isibor, presenting ‘Value for Money Multivitamin Brand of the year 2022 (Reload Multivitamin) to Director of Sales and Marketing, Pharmacy Plus Limited, Jude Elue; and Head of Marketing, Pharmacy Plus Limited, Ikechukwu Aneke, during the ﬁrst edition of Consumers Value Awards/Dinner in Lagos...recently PHOTO: ABAYOMI AKINYELE

The National Youth Service Corps (NYSC) Director-General, Brigadier-General Muhammad Kaku Fadah (right), presenting some copies of NYSC publications to the Secretary to the Economic and Financial Crimes Commission (EFCC), Dr. George Ekpungu (left), during the latter’s visit to NYSC National Directorate Headquarters in Abuja...recently

L-R: News Assistant/Reporter, THISDAY Newspapers, Sunday Okobi; Special Media Assistant to Executive Vice Chairman, National Communication Commission (NCC), Yakubu Musa; Founder, The Cable Newspaper/ former Daily Editor, THISDAY Newspapers, Simon Kolawole; and Deputy Daily Editor, THISDAY Newspapers, Obinna Chima, during the burial ceremony of late Princess Margaret Obaigbena, mother of the Editor-inChief and Chairman, THISDAY/ARISE Group, Prince Nduka Obaigbena, in Owa-Oyibu, Delta State…recently PHOTO: ABIODUN AJALA

L-R: The Chairman, College of Theology, Lagos 25th anniversary, Victor Eburajolo; President, Lagos Central Baptist Convention, Dr. Victor Akerele; Vice President, Finance, Nigerian Baptist Convention (NBC), Biodun Oloyede; Rector, Baptist College of Theology, Lagos, Professor Emmanuel Oyemomi; Chairman, Board of Governance, Ayodeji Gbeleyi; and Director, Christian Education, NBC, Dr. Foluke Ola, at the 25th anniversary of Baptist College of Theology Lagos and book launch in Lagos...recently

Director-General of the National Youth Service Corps (NYSC), Brigadier General Muhammad Kaku Fadah(left), inaugurating the transmitter for NYSC Radio and Television Stations to mark his 100 days in oﬃce at the Corps National Directorate Headquarters in Abuja…recently

L-R: Timi Alaibe, Tonye Cole, Akin Oshuntokun, and Fidelis Anosike, all guests at the grand royal farewell (burial) for Princess Margaret Obaigbena at Owa-Oyibu, Delta State…recently PHOTO: ABIODUN AJALA

L-R: Coordinator, Good Governance Group for Peter Obi and representatives of the presidential candidate of Labour Party (LP), Otunba Ibidolapo Balogun; guest, Mrs. Chinwe Okigbo; Otunba Ayodeji Osibogun (son of the deceased); guests, Mr. Emeka Ugwu-Oju and Dr. Leke Oshunniyi, during the funeral ceremony of late Mrs. Olayinka Abiodun Wright-Osibogun (Clarissa) in Ibadan, Oyo State…recently

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

T H I S D AY ˾ ˜ AUGUST 31, 2022

BUSINESS/MONEYGUIDE

Comercio Partners: Why Foreign Capitation Importation Decline Will Persist Kayode Tokede The ongoing tight monetary policy of major central banks around the world, as well as domestic factors including scarcity of foreign exchange, widespread insecurity, and pre-election jitters, will lead to further decline in Foreign Capital Importation, FCI, into the country, a Lagos based investment banking firm, Comercio Partners has said. Co-Managing Partner and Chief Executive Officer, Comercio Partners Asset Management, Tosin Osunkoya stated this while commenting on the FCI into the country in the second quarter of the year, Q2’22. Data from the Central Bank of Nigeria (CBN) showed that FCI - into the country rose by 12 per cent, year-on-year, to $3.11 billion in the first half of the year, H1’22, from $2.78 billion in the same period of last year, H1’21. But in the second quarter Q2’22, FCI fell by 2.5 per cent, quarter-on-quarter (QoQ), to $1.54 billion from $1.57 billion in the Q1’22.

Osunkoya however described the YoY growth in FCI in H1’22, as a statistical phenomenon due to weak base, stressing that the focus should be on the QoQ decline which showed that foreign investors’ appetite for the Nigerian economy is dwindling. Explaining the foreign and local factors responsible for this development, Osunkoya said: “The ravaging trend of inflation across major developed economies has triggered hawkish policy responses such as interest rate hikes, which tend to spur capital repatriation from frontier economies such as Nigeria while discouraging foreign capital inflows into the local economy, particularly through foreign portfolio investments (FPIs). “Furthermore, the impact of global headwinds does not entirely absolve the local economy of blame, as persistent tightness in the currency market and unabated insecurity remained a fundamental threat to foreign investors in the review quarter. “As a result, it was unsurprising that FCI fell marginally

by 2.40% QoQ to $1.54 billion in Q2’22, owing largely to a 20.91% drop in FPIs, which have historically accounted for over 55% of capital imported into the local economy over the last five years.” Highlighting the insignificance of the YoY growth in FCI in Q2’22, Osunkoya explained: “While we are aware of the 75.34% year-on-year increase in capital importation in the review quarter, we must attribute this increase to the weak base period, as the Q2 2021 base quarter was hampered by lingering Covid-19 concerns due to the prevalence of the virus’s Delta variant. “As a result, the YoY increase in foreign capital imported in Q2 2022 is merely statistical, as comparing the capital imported in Q2 2022 to the amount recorded in the corresponding period of the 2019 pre-pandemic year reveals a staggering 74.63% decline. Similarly, FDIs, FPIs, and Other Investments fell by 34.05%, 82.59%, and 57.39%, respectively, in Q2 2022 when compared to Q2 2019.”

FMDQ Exchange Approves Registration of Infinity Microfinance Bank’s N5bn CP Kayode Tokede The FMDQ Securities Exchange Limited (FMDQ Exchange), yesterday said it has approved the registration of Infinity Microfinance Bank Limited N5billion Commercial Paper (CP) Programme on its platform. According to the Exchange, the successful registration of Infinity Microfinance Bank CP Programme is yet another notable drive to develop a vibrant and efficient debt market despite economic and market uncertainties. This is the first CP Programme to be registered by a microfinance bank on FMDQ Securities Exchange

and without a doubt sets the pace for other duly licensed and regulated microlending institutions seeking to raise capital via the issuance of CPs. The Managing Director, Infinity Microfinance Bank Limited, Mr. Oludotun Adewunmi, in a statement, said, “Infinity Microfinance Bank Limited is pleased to announce the quotation of its N5billion CP Issuance Programme on FMDQ Securities Exchange Limited. “The CP Programme is an important strategic move for the Bank towards achieving its mandate of supporting the growth of low-income households as well as micro, small & medium-sized enterprises

across Lagos State. “The registration of this CP Programme, in addition to allowing Infinity Microfinance Bank broaden its sources of funding, has availed the Bank with a platform to raise shortterm finance, within the CP Programme limit, from the Nigerian debt markets when it deems suitable”. Commenting on the successful registration of the Programme, Mr. Tolu Osinibi, Managing Director, FSDH Capital Limited (FSDH Capital) said, “FSDH Capital is pleased to have advised Infinity Microfinance Bank Limited on this landmark registration of its N5 billion Commercial Paper Issuance Programme.

CIBN Inducts 1,864 Members, Urges Professionalism, Ethics Nume Ekeghe The Chartered Institute of Bankers of Nigeria (CIBN) has inducted 1,857 graduated banking professionals, urging the newly inducted bankers to be professional and ethical in practice and to take advantage of continuous development as a way of shaping the future of the banking industry. President/Chairman of the council of CIBN, Dr. Ken Opara, gave this charge over the weekend at the 2022 CIBN graduates induction and prize

award ceremony. In his opening remarks, Opara said: “The Institute is resolute in its commitment to capacity building and value in addition to our members and stakeholders. I encourage all our Inductees to stay connected to the Institute and identify with a branch of the Institute in your domain, so you can take maximum advantage of the various innovative initiatives from the Institute towards your personal and career development.” Opara urged the graduates who have successfully com-

pleted the banking professional examinations and certification programmes of the Institute. He added: “This is an important milestone in your lives which represents further progress in your career development. Distinguish audience, it might interest you to know that a total of 1,857 graduates will be inducted today, 1099 Associates through the Regular Examination route, 47 Associates through the CBMBA route, 21 Associates via the MSc/ACIB route, and 690 Microfinance Certified Bankers.”

Experts Gather to Review Nigerian Banking Regulation Omolabake Fasogbon As part of effort to enhance banking and economic activities, experts from within and outside the country will be reviewing the Nigerian Banking Regulation at a webinar. The webinar being put together by the Commercial Law Research Network of Nigeria, in collaboration with the Global South Dialogue on Economic

Crime and the University of Reading, sought to assess the regulatory architecture of the banking sector for efficiency. A statement by one of the webinar organisers and a lecturer of Law at the University of Reading, Dr Folashade Adeyemo revealed the theme of the virtual discussion as “The Practitioners’ Perspective on the Banks and Other Financial Institutions Act, 2020”.

Adeyemo explained that the discussion, which holds August 31 was necessary as to examine the effectiveness of banking regulation in Nigeria. “Effective banking regulation is important in terms of maintaining the stability of any economy and financial system. It is vital that the regulatory structure maintains its effectiveness to ensure that the economy is not impacted and continues to thrive.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 2022 Money Supply (M3)

48,865,823.53

-- CBN Bills Held by Money Holding Sectors

167,956.2

Money Supply (M2)

48,797,867.32

-- Quasi Money

28,405,330.1

-- Narrow Money (M1)

20,392,537.22

---- Currency Outside Banks

2,722,785.91

---- Demand Deposits

17,669,751.32

Net Foreign Assets (NFA)

6,242,394.29

Net Domestic Assets(NDA)

42,623,429.24

-- Net Domestic Credit (NDC)

57,267,178.05

---- Credit to Government (Net)

17,996,690.06

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

39,270,488

--Other Assets Net

5,566,430

Reserve Money (Base Money

11,320,304

--Currency in Circulation

3,259,269.15

--Banks Reserves --Special Intervention Reserves

11,320,303.72 384,377.56

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

June 2022

Inter-Bank Call Rate

11.10

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

13.00

Treasury Bill Rate

2.45

Savings Deposit Rate

1.38

1 Month Deposit Rate

3.48

3 Months Deposit Rate

4.55

6 Months Deposit Rate

4.97

12 Months Deposit Rate

5.30

Prime Lending rate

12.29

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7

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

1 D L T C

T H I S D AY ˾ ˜ ͱͯ˜ ͰͮͰͰ

Profit-taking Persist as Stock Market Decline by N18bn Kayode Tokede Profit-taking activities continued yesterday on the stock market of the Nigerian Exchange Limited (NGX), dropping by N18 billion. The NGX All Share Index (ASI) decreased by 34.06 basis points or 0.07 per cent to close at 49,642.69 basis points. Similarly, the market capitalisation lost N18 billion to close at N26.776 trillion. The stock market downturn was impacted by losses recorded

in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications (MTNN), Cadbury Nigeria, Unilever Nigeria, Nigerian Aviation Handling Company (NAHCO) and FCMB Group. As measured by market breadth, market sentiment was mixed as an equal number of 13 stocks gained and lost. e-Tranzact International recorded the highest price gain of 9.65 per cent to close at N2.50, per share. Sovereign

P R I C E S MAIN BOARD

F O R DEALS

Trust Insurance followed with a gain 7.69 per cent to close at 28 kobo, while Vitafoam Nigeria appreciated by 7.27 per cent to close at N23.60, per share. Japaul Gold and Ventures went up by 6.45 per cent to close at 33 kobo, while Consolidated Hallmark Insurance appreciated by 4.84 per cent to close at 65 kobo, per share. On the other hand, Courteville Business Solutions led the losers’ chart by 7.69 per cent

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

to close at 48 kobo, per share. FCMB Group followed with a decline of 4.06 per cent to close at N3.07, while UACN Property Development Company went down by 3.77 to close at N1.02, per share. NAHCO lost 3.72 per cent to close at N5.70, while Cadbury Nigeria shed 2.99 per cent to close at N13.00, per share. Also, the total volume traded declined by 45.9 per cent to 125.950 million units, valued at

T R A D E D MAIN BOARD

A S

N3.073 billion, and exchanged in 4,145 deals. Transactions in the shares of Mutual Benefits Assurance topped the activity chart with 25.337 million shares valued at N8.241 million. Fidelity Bank followed with 10.226 million shares worth N31.068 million, while Access Holdings traded 8.991 million shares valued at N73.675 million. FBN Holdings (FBNH) traded 7.708 million shares

O F

3 0

valued at N84.295 million, while MTNN transacted 7.274 million shares worth N1.451 billion. Analysts at Investment One research explained that the stock market closed southwards due to the loss recorded in the banking sector. “Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space.

/ 8 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

7 R S 7 U D G H V E \ 9 R OX P H

7 R S * D LQ H U V T ic k er

P ric e

P ric e C hg %

T ic k er

0.69

9.5%

J A IZ B A N K

40.4

4.7%

UP D C R EIT

3.55

9.2%

A C C ESSC OR P

35.8

0.0% 0.5%

VIT A F OA M C OUR T VILLE

2.62

9.2%

FB NH

23.1

22.00

8.4%

M B EN EF IT

19.9

6.7%

0.52

8.3%

Z EN IT H B A N K

12.5

0.2% -0.7%

M B EN EF IT

0.32

6.7%

F ID ELIT YB K

9.9

NA HCO

5.92

5.7%

UB A

9.9

0.7%

J A IZ B A N K

0.90

4.7%

GT C O

9.8

-0.5%

CHA M S

0.26

4.0%

ST ER LN B A N K

6.1

0.7%

UA C N

11.10

2.8%

N EM

5.6

0.0%

7 R S 7 U D G H V E \ 9 D OX H

7 R S / R V H U V P ric e

P ric e C hg %

T ic k er

Value

C A VER T ON

1.04

-9.6%

A C C ESSC OR P

293.6

0.0%

J OH N H OLT

0.81

-9.0%

Z EN IT H B A N K

273.7

0.2%

J A P A ULGOLD

0.31

-8.8%

FB NH

251.4

0.5%

0.53

-3.6%

GT C O

194.4

-0.5%

45.80

-2.9%

M TNN

165.0

0.0%

153.1

0.0% -2.9%

T ic k er

A IIC O NB

P ric e C hg %

A C A D EM Y

2.10

-1.9%

ST A N B IC

A R D OVA

12.10

-1.2%

106.9

-0.7%

UB A

70.5

0.7%

-0.5%

P R ESC O

68.1

0.0%

SEP LA T

62.1

0.0%

F ID ELIT YB K GT C O

Afrinvest West Africa Limited

P ric e C hg %

T R A N SEXP R

M ULT IVER SE

Vo lum e

3.04 19.90

Investment Research

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T H I S D AY • WEDNESDAY, AUGUST 31, 2022

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 29Aug-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.22% Anchoria Equity Fund 138.43 139.99 -0.59% Anchoria Fixed Income Fund 1.18 1.18 3.02% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.01 21.65 3.60% ARM Discovery Balanced Fund 508.59 523.92 12.73% ARM Ethical Fund 42.30 43.58 8.59% ARM Eurobond Fund ($) 1.08 1.08 0.06% ARM Fixed Income Fund 1.06 1.06 4.22% ARM Money Market Fund 1.00 1.00 9.36% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 91.77 91.77 -5.13% AVA GAM Fixed Income Dollar Naira 1,092.78 1,092.78 9.28% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.08 2.08 2.79% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.32 2.37 10.99% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 5.56% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.56% Paramount Equity Fund 19.15 19.5 9.92% Women's Investment Fund 145.81 147.58 2.72% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.22% Cordros Milestone Fund 131.08 132.01 5.36% Cordros Dollar Fund ($) 111.02 111.02 5.14% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 8.98% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 9.40% EDC Nigeria Fixed Income Fund 1,114.16 1,133.04 0.23% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 7.99% Emerging Africa Bond Fund 1.03 1.03 8.58% Emerging Africa Balanced Diversity Fund 1.03 1.03 3.40% Emerging Africa Eurobond Fund 103.21 103.21 2.07% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund (Retail) N/A N/A N/A FBN Nigeria Smart Beta Equity Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,034.46 3,610.01 100.00

4,087.76 3,610.01 100.00

5.31% 6.18% 10.26%

FSDH Dollar Fund 1.11 1.11 4.03% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.60 1.63 12.61% Lotus Halal Fixed Income Fund 1,165.97 1,165.97 6.20% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.09 12.17 10.96% Meristem Money Market Fund 10.00 10.00 11.02% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.18 102.18 9.66% Norrenberger Money Market Fund (NMMF) 100.00 100.00 9.85% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.64 1.67 4.54% PACAM Fixed Income Fund 11.79 11.82 5.26% PACAM Money Market Fund 10.00 10.00 7.09% PACAM Equity Fund 1.42 1.43 1.44% PACAM EuroBond Fund 120.08 123.08 2.81% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 130.04 132.63 4.74% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.06 1.06 9.24% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,545.29 3,580.56 4.68% Stanbic IBTC Bond Fund 241.27 241.27 2.42% Stanbic IBTC Ethical Fund 1.40 1.42 11.90% Stanbic IBTC Guaranteed Investment Fund 325.22 325.23 3.86% Stanbic IBTC Iman Fund 257.82 262.15 10.64% Stanbic IBTC Money Market Fund 1.00 1.00 8.96% Stanbic IBTC Nigerian Equity Fund 11,563.26 11,724.00 6.00% Stanbic IBTC Dollar Fund (USD) 1.34 1.34 3.38% Stanbic IBTC Shariah Fixed Income Fund 119.53 119.53 2.24% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 111.78 111.78 5.08% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.94 0.97 6.67% United Capital Balanced Fund 1.33 1.35 2.12% United Capital Wealth for Women Fund 1.12 1.13 8.36% United Capital Sukuk Fund 1.08 1.08 4.73% United Capital Fixed Income Fund 1.91 1.91 4.16% United Capital Eurobond Fund 122.93 122.93 3.75% United Capital Money Market Fund 1.00 1.00 11.26% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.61 13.73 3.19% Zenith ESG Impact Fund 15.56 15.71 6.44% Zenith Income Fund 23.06 23.06 5.03% Zenith Money Market Fund 1.00 1.00 7.95% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.81 3.91 -5.06% Vetiva Consumer Goods Exchange Traded Fund 5.85 5.95 0.12% Vetiva Grifﬁn 30 Exchange Traded Fund 17.96 18.16 1.54% Vetiva Money Market Fund 1.00 1.00 9.27% Vetiva Industrial Goods Exchange Traded Fund 17.61 17.81 -11.84% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 141.44 143.44 -10.28%

REITS NAV Per Share

Yield / T-Rtn

118.56 51.93

4.66% 2.11%

Bid Price

Offer Price

Yield / T-Rtn

14.13 126.75 98.96 16.40 17.10

14.23 129.97 101.12 16.50 17.20

1.03% -0.28% -0.80% -5.77% 13.57%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

T H I S D AY ˾ ͱͯ˜ 2022

CITYSTRINGS

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Promoting Security, Sustainable Policing As part of its measures to boost security and promote sustainable policing nationwide, Asharami Synergy, a Sahara Group Downstream company, recently renovated and upgraded the Police Station on Murtala Muhammed Airport Road, Ikeja, Chiemelie Ezeobi reports

or Asharami Synergy, a Sahara Group Downstream company, security and safety are key in all facets of their everyday work. Recently, they walked the talk in renovating and upgrading the Police Station on Murtala Muhammed Airport (MMIA) Road, Ikeja, Lagos. According to them, the move was to enhance security and sustainable community policing. Managed by Sahara Foundation, the corporate citizenship vehicle of energy and infrastructure conglomerate, Sahara Group, the project is one of Asharami Synergy’s corporate citizenship initiatives aimed at promoting the sustainable development goals in communities where the company operates. Recall that last December, Sahara Foundation, provided access to clean energy and improved power supply at the Trinity Police Command, Ibafon, Apapa, Lagos. Makeover Essentially, the MMIA Police station received a complete building makeover. The project which was kickstarted in June 2022 required a comprehensive structural overhaul on the main building including internal and external upgrades, as well as introduction of an inverter and solar panels to ensure the station has uninterrupted power for seamless operations. The renovation also included electrical wiring, replacement of the entire roof, windows, and doors, painting, and overhaul of the facility’s toilet systems. Programs Manager, Sahara Foundation, Chisomebi Okoroafor, said the MMIA Police station renovation is one out of several renovation projects currently ongoing across the country, listing Ibafon, Ijora, and Onne (in Rivers State) police stations as some of the facilities to have benefitted from the project targeted at promoting sustainable policing. Handover So on August 17, 2022, the group converged on the MMIA Police Station to officially hand-over the renovated station. The event was hosted by the Divisional Police Officer (DPO), Mr Joseph Alabi (SP) and had the Commissioner of Police, Lagos Airport Command, CP Salem Vincent Amachree as Special Guest of Honour and representative of the Inspector General of Police. The event was also attended by Deputy Commissioner, Admin and Finance, Mr Ajao Adewale; Head, Corporate Communications, Sahara Group, Bethel Obioma; Head, Aviation and Terminal Operations, Asharami Synergy, Abiodun Olaniyan; Chief Security Officer, Sahara Group, Adeniyi Ige; and Programs Manager, Sahara Foundation Chisomebi Okoroafor. Unwavering Commitment to Corporate Citizenship According to Yemi Odutola, Chief Operating Officer, Asharami Synergy, the inclusion of solar power is in line with Asharami and Sahara Foundation’s unwavering commitment to promoting access to energy and building sustainable environments. “This energy saving, and sustainability approach applied to the renovation of the MMIA Police station would ensure the facility receives power-dependent real time alerts, thereby leading to improved security. Asharami Synergy is delighted at the opportunity to work with the Nigeria Police to achieve this feat," he said. On why they do what they do, the COO said at the heart of Sahara’s business objectives, lies an unwavering commitment to promoting good corporate

L-R: Divisional Police Oﬃcer, MMA Police Station, Lagos, Mr Joseph Alabi; Chief Operating Oﬃcer, Asharami Synergy (A Sahara Group Downstream Company), Yemi Odutola; Commissioner of Police, Lagos Airport Command, CP Salem Vincent Amachree; Head, Corporate Communications, Sahara Group, Bethel Obioma; and Head, Aviation and Terminal Operations, Asharami Synergy, Abiodun Olaniyan during the hand-over ceremony of the MMIA Police Station renovated by Asharami Synergy through Sahara Foundation

The Sahara Team and policemen attached to the division

citizenship across the globe, which is achieved through Sahara Foundation – the vehicle for the Group’s Personal and Corporate Social Responsibility (PCSR) initiatives. He said: "The activities of Sahara Foundation are aimed at empowering the communities where we operate in a sustainable, transparent, and efficient manner. Asharami Synergy through Sahara Foundation remains committed to supporting our host communities. "Assisting communities with the right projects that will benefit them starts with honest conversations about what their needs are. We had that conversation with the Nigerian Police MMIA Division, that discussion birthed this renovation. "The NPF and Sahara Group have a mutual synergy which continues to be beneficial and

productive. With similar police renovation projects executed in Ibafon, Onne in Rivers State and Ijora. "We are most pleased, and if you allow, a little proud, to be handing over this beautiful well renovated station to you today. If you have the picture before this renovation, this sight we behold now will have only been imagined. "The building renovation comes with both internal and external upgrades which includes providing 4Kwt Inverter and Solar panels, painting, electrical wiring, changing the entire roof, windows, and doors in the building, construction of soak away and septic tank. "Our commitment remains unwavering while we continue to leverage your good selves for any matters relating to security and maintenance of peace and order." Ovation Speaking at the hand-over event, the Commissioner of Police, Lagos Airport Command, CP Salem Vincent Amachree described the renovation of the MMIA

The activities of Sahara Foundation are aimed at empowering the communities where we operate in a sustainable, transparent, and efficient manner

Police station as laudable and commended the management of Asharami Synergy and Sahara Foundation for promoting efficiency and service experience through the project. Noting the state of the station prior to the completion of the project, CP Amachree said: “truly the difference is clear for all to see. I assure members of the public of the commitment of the Nigerian Police to safeguarding lives and properties and we look forward to collaboration towards keeping Nigeria secure for all.” Also speaking at the event, Divisional Police Officer, MMIA Police Station, Mr. Joseph Alabi commended Asharami Synergy and Sahara Foundation for delivering the project seamlessly. He said the morale boosting initiative will go a long way to supporting the activities of the station, adding that the renovated station would be fully utilised towards enhancing security in Mafoloku, with an estimated population of about two hundred thousand people. Given that the overall objective is to support operations and promote better policing, there is every need for the police to embrace the hand of fellowship and translate it to citizen-driven policing. At the end of the event, Mr. Bethel stirred hearts and mind with his lavish praise for the policemen nationwide, commending them for their commitment to safeguarding lives and property, a move that brought cheery smiles to their faces and warmth to their hearts.

T H I S D AY ˾ ͱͯ˜ 2022

SECURITY

NNS KADA's Historic Deployment to Guinea Bissau Nigerian Navy Ship KADA recently received a heroic welcome in Lagos after its maiden historic deployment to disembark military hardware and troops of Nigerian Contingent in ECOWAS Stabilisation Support Mission in Guinea Bissau, Chiemelie Ezeobi reports

NNS KADA after its successful maiden international voyage to Guinea Bissau

L-R: FOC Western Naval Command, Rear Admiral Yakubu Wambai; rep of CNS, Chief of Naval Safety and Standards, Rear Admiral Perry Onwuzulike; and CO NNS KADA, Captain Reginald Adoki

ighteen days after it conveyed military hardware and crew to Guinea Bissau on peace keeping mission, Nigerian Navy Ship (NNS) KADA, a Landing Ship Transport (LST), returned to Lagos harbour last Thursday. In its maiden international voyage, NNS KADA, commanded by Navy Captain Reginald Adoki, sailed on August 6, 2022 from Lagos for Guinea Bissau to disembark military hardware for the Nigerian Contingent in ECOWAS Stabilisation Support Mission in Guinea Bissau. Given the upheaval in Guinea Bissau after the President of Guinea Bissau, President Umaro Sisoco Embalo escaped a coup attempt in February 2022, the Economic West Africa (ECOWAS) set up the Security Stabilisation Mission in Guinea Bissau (ESSMGB) with one-year renewable mandate to stabilise the country. Troops of Nigeria, Senegal, Ghana and Ivory Coast make up the ESSMGB and the respective nations have their contingent deployed to Guinea Bissau. Essentially, the mandate of participating troops are three -pronged: to ensure the protection of the government of Guinea-Bissau; assist the Armed Forces of Guinea-Bissau to stabilise the country, as well as protect civilians. At the Nigerian Navy Ship BEECROFT Jerry in Apapa, Lagos, to receive the vessel and crew, the Chief of the Naval Staff (CNS), Vice Admiral Awwal Zubairu Gambo, showered encomium on them. Represented by the Chief of Naval Safety and Standards, Rear Admiral Perry Onwuzulike, the CNS reiterated that NNS KADA’S voyage to and from Guinea Bissau to Lagos was its first national assignment after she arrived from the United Arab Emirates on May 27, 2022. He said one of the roles of the Nigerian Navy is strategic sealift which NNS KADA performed commendably to support the ECOWAS mandate

in line with Nigerian’s foreign policy objectives. He also emphasised that there is no doubt that the Nigerian Navy would continue to leverage the sealift capability as it seeks further collaboration with Sister services. He said: “It is pertinent to state that Nigerian maintains a contingent in Guinea Bissau, hence the equipment NNS KADA took to Guinea Bissau was for the Nigerian Contingent”. He also further emphasised that NNS KADA successfully performed her mission and is now back home, just as he also commended the Ship’s Company and urged them to prepare and be on standby for her next mission as exigency of service would permit. The senior Naval Officers that accompanied the representative of the Chief of the Naval Staff to receive NNS KADA were Rear Admiral Yakubu Wambai, the Flag Officer Commanding Western Naval Command; Rear Admiral Monday Unurhiere, Flag Officer Commanding Naval Training Command; Rear Admiral Kohath Levi, representative of the Flag Officer Commanding Naval Doctrine Command; and Rear Admiral Emmanuel Beckley, Admiral Superintendent Naval Ordinance Deport. Others are Rear Admiral Olusola Oluwagbire, Director of Operations Naval Headquarters; Rear Admiral Samson Bura, Fleet Commander Western Fleet and other senior officers of the Western Naval Command. With a capacity to carry over 250 passengers including 32 crew members and 16 embarked Special Forces, NNS KADA is currently the largest LST in the whole of Africa, which is designed for a range of duties including amphibious operations, strategic transport of equipment and troops, disaster relief, medical evacuation and humanitarian assistance. It also has a helicopter deck and significant space to carry troops and tanks for ground forces on special mission.

CRIME SITUATION REPORTS

INSECURITY CHALLENGES IN NIGERIA: WAY OUT OF SEEMING DESPONDENCY (9) Gbolahan Samuel Moronfolu OTHER CAUSES OF INSECURITY IN NIGERIA The cause of insecurity in Nigeria can be distinguished among the following factors; Internal Security Disorder Usually, internal security rest on the authority of interior minister and defense minister in the federation. They are to initiate and supervise the mode of operation by the police and other security agents in the country to ensure that peace and harmonious living exist in every nooks and crannies of the country. More so, in different states and local government areas of this country, the governors and chairmen as the chief security officers are to maintain and sustain the security situation in their territory. This can be done by making sure that the law enforcement agencies deployed to their areas do their work diligently. However, in most cases, many of these security agents according to Iygeal (2012) sometimes seem to be ignorant of what is happening around them but depend on information from the general public before there action. Sometimes, some of them may hear about violence and criminal activities but for the fear of death may neglect their action resulting to security disorder by some security agents in the country. Usually, this type of security disorder is very disastrous to the security situation in the country. Poor System of Governance and Concentration of Political Power to the Centre In any economy, government activities are expected to agree with norms and aspirations of the people within the area of governance. This is because, for effective administration to take place, government is challenged to focus attention mostly on programs and policies that have direct bearing on the teaming population. However, more often than not, some political office holders use to neglect their promises during campaign after being elected into power and concentrate on activities that can enriches their pockets. This poor attitude and negligence, often results to anger among people and leads to insecurity in many part of the country. Also, most of the government functions are concentrated at the seat of the government which is usually in the headquarters either of the federal, state or local governments. In this case, high security may be maintained in the center while people living in the hinterland are left with little or no protection. This can create a lot of security threat to the hinterland. Weak Judicial System, Injustice, Nepotism and Culture of Impunity Some people commit all manner of crimes and get away with it scot- free. For instance, a rich man or some people in high authority can commit a lot of atrocity and get away with it because of nepotism and impunity but ordinary person is punished for a trivial offense. This type of favoritisms in Nigeria legal system is detrimental to professionalism of legal practice for better service delivery. Bribery and Corruption Bribery and corruption is one of the major problems confronting Nigeria economy. Most people that occupy strategic positions in the administration of this country take advantage of their positions to loot the treasure of the government without query of molestation. In fact, most of them embezzle through inflated contracts to an increasing army of party loyalists who have neither the desire nor the competence to execute their contracts, to over invoicing, consumption of escalating salaries of grossly over-staffed and unproductive public servant and a host of others without queries or harassment. This type of practice have made some elites to believe that justice can be bought or sold in this country depending on one’s bargaining power. State of Origin/ Indigeneship Syndrome or the “Quota System’’ Most Nigerians identify themselves with their tribe or state of origin rather than as a Nigerian anywhere they live or find themselves. Usually, a person born and bred in an area and whose parents and grand-parents are also born in that area but are originally from another place, are still seen as none indigene. Such people may be tolerated in the place but in most cases they may not be

entitled to some of the privileges with the “owner” of the land. Also, the quota system syndrome in Nigeria society has generated a lot of problems in employment opportunity and political appointments. This is so because most political appointments and employment opportunities in the country are based on god fathers and whom you know instead of the so called quota system. From this scenario therefore, the indigeneship and quota system syndrome has a lot of threat in security situation, most especially if there is agitation between indigene and non-indigenes on political appointment and employment opportunity in certain area. This can trigger a lot of anger and result to violence and clash in some areas of the country. Wasteful Resources Some individuals in Nigeria are powerbrokers who are very strong and see themselves as untouchables and boast about it. Even if contracts are awarded to them in any part of the country, such contracts are paid for without execution. Likewise because of personal aggrandizement, some political office holders award contracts to themselves without execution. This attitude leads to wasteful resources by the government. Sometimes if the government uses force on them to return such money embezzled using law enforcement agents like the Police, Economic & Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC) etc., permission and clearance or permission have to be obtained from their so-called godfathers or powerful individual involved. Likewise, unscrupulous money-bags and criminals are celebrated because of their wealth without asking how and where such wealth is acquired. This behavior results to a lot of wasteful resources in the country. Political Praise Singers Political praise singer sometimes aggravate anger on the populace when they see that the praises and encomium poured on some political office holder does not commensurate with the work they do in the society. Thus, such anger could result to violence and destruction of lives and properties in such area Such crises have happened in different part of this country.. Usually, the political praise singers are often sponsored by some people in power who used dubious means to gaining power. In this case therefore, the political praise singers use such praises to confuse the populace about the activities of the governance. This attitude is very disastrous to the development of the country because it encourages some people in governance to divert funds meant for development into private pockets at the expense of human and capital resource development. Unemployment Unemployment situation in Nigeria is worrisome. Most educational institution in the country turns out thousands of graduates every year but there are no institutional arrangements for their employment However, in a bid to survive, many of them are agitated and that results into violent and criminal activities against the society. Such criminal activities include militancy, kidnapping, bombing, armed robbery, destruction of government and private properties, cultism, among others. In fact, violent, conflicts, whether social, political or environmental have seriously contributed to the crises situation in terms of loss of human lives and material capital. Nigeria in the last four years has experienced the breach of peace in some geopolitical zones of North-Eastern States of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe and Some parts of North-West States of Kaduna, Kano, Jigawa and Zamfara to the South-East states of Imo, Enugu, Anambra, Ebonyi, and Abia to mention but a few. All these violent and conflicts have contributed to the state of insecurity in the country. There have been losses of lives, livelihoods, destruction of infrastructure and natural resources as a result of violence in so many communities. Employment opportunities which are out of place has weakened social safety and caused a decline in the capacity of the state to provide services to sectors like health, education and indeed security for the people. Likewise, the peace and security and indeed wellbeing of the people have been seriously tampered with. From this scenario therefore, the cost and effect of insecurity in the country can never be underestimated.

WEDNESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

PROGRESSIVE GOVERNORS' MEETING WITH BUHARI... L-R: APC Governors: Babajide Sanwo-Olu (Lagos); Abdullahi Sule (Nasarawa); Abubakar Badaru (Jigawa); Dapo Abiodun (Ogun); Kayode Fayemi (Ekiti); President Muhammadu Buhari; Governor Atiku Bagudu (Kebbi), and Governor Simon Lalong (Plateau) and behind them: Chief of Staﬀ to the President, Prof. Ibrahim Gambari (left) and Secretary to the Government of the Federation, Mr. Boss Mustapha (right), at the APC Governors’ meeting with the president at the State House, Abuja…yesterday

Buhari: I’ll Not Allow Any Politician Intimidate Nigerians With Personal Resources in 2023 Says his govt will ensure people vote their choice Deji Elumoye in Abuja President Muhammadu Buhari has assured that he would not allow any deep-pocketed politician to intimidate the electorate with massive war chest in 2023. Buhari said his administration would ensure unimpeded suffrage for eligible Nigerians, and the people’s votes would count during the next general election. The president spoke at the State House, Abuja, while playing host to members of Progressive Governors’ Forum (PGF), led by its chairman and governor of Kebbi State, Abubakar Bagudu. Buhari stated, “We will not allow anyone to use personal resources or their influence to intimidate other Nigerians. We will not allow intimidations materially, morally or physically. This is the kind of leadership that can emerge and consolidate our nation. “In six months, Nigerians will appreciate the government of APC that we are sincere and we respect them." He added that APC, under his leadership, would continue to respect Nigerians by ensuring that their votes count and the people’s voice matter in choosing political leaders at all levels. Buhari said, “I want Nigerians to know that we respect them, and

for us to show that, we will allow them to vote who they want. We all witnessed what happened in Anambra, Ekiti and Osun states. What happened in those states gives me a lot of hope that we are succeeding.” He promised Nigerians that APC would continue to bequeath strong political institutions that reflect their choices, through non-interference in elections, citing outcome of polls in Ekiti, Anambra and Osun states as indicators. Buhari noted that non-interference in elections gave credence to the political process, ensured participation and inclusiveness, and showed that the governing party respected the electorate. The president urged APC leaders to intensity their “thinking, meeting and strategising for the 2023 elections.” Earlier, in his remarks, Bagudu thanked the president for his leadership, which he said was guided by wisdom and foresight. The governor said the Nigerian economy had been growing, in spite of challenges. Bagudu told Buhari, “We want to congratulate you on the positive trajectory of the economy, with the 3.5 per cent growth in the second quarter, up from 3.1 per cent of the first quarter of this year. Infrastructure projects are ongoing in parts of the country, and the social intervention programme is

expanding.” Bagudu said the growth trajectory had defied initial predictions of some multilateral institutions, affirming that the World Bank and others have acknowledged the resilience of the economy, and reviewed their positions. He said, “Your Excellency, as we

speak, there is drought in Europe and China. The Ukraine-Russia war is taking a toll on economies. In the UK, there is rationing of electricity, and energy shortages in China. “While other countries are banning food export, we are preparing for more production, in spite of floods in places like Jigawa State.

David Ukpo, the young man at the center of an alleged organ harvesting crime involving Senator Ike Ekweremadu and his wife, Beatrice, have asked a Federal High Court, Abuja to reverse its July 1 ruling that ordered the release of his bio-data in respect of a case against Ekweremadu and wife in a London Court. Ukpo predicated his request on the grounds that the court violated his fundamental rights to fair hearing as well as Order 34 of the Rules of the Federal High Court. Justice Inyang Ekwo of the Federal High Court had on July 1, in a ruling ordered the release of the bio-data as well as some documents containing his vital and private information to Ekweremadu and his wife to aid their defense of alleged organ

harvesting charge in a London Court. Justice Ekwo in another ruling, had ordered the Attorney General of the Federation to receive for onward transfer to the United Kingdom the same bio-data and other personal information of Ukpo to the Uxbridge Magistrate Court where the Ekweremadus are being tried for allegedly trafficking a minor to the UK for the purpose of organ harvesting. They were arrested and arraigned before an Uxbridge Magistrate Court for allegedly inducing Ukpo, whom they believed was a minor to donate part of his organ to Ekweremadu's daughter who is currently being treated at a London hospital. While Mrs. Ekweremadu was granted bail few weeks ago, the Senator is still in custody since their arrest in June this year and may not be released until the

in their first term. According to him, “We note the pronouncement of ASUU. We recall the appeal of the president to ASUU while we were visiting Daura that they should consider the future of students. We will not dwell on that now. We are ready to accept any negotiations for resolution.”

ICRC Explains Role in FG, Boko Haram Negotiations for Chibok Girls’ Release Says Nigeria accounts for 50% of missing persons in Africa Emameh Gabriel in Abuja Against speculations about its direct involvement in the negotiations between the federal government and Boko Haram terrorists for the release of Chobok girls, the International Committee of Red Cross Society (ICRC) has explained its level of involvement during the process. The Head of Delegation, ICRC, Mr. Yann Bonzon, who spoke at a press conference organised by the Human Rights Commission to mark the International Day of the Disappeared (missing

and kidnapped victims), said the ICRC was only involved in the provision of logistics support with other stakeholders of the international community. Bonzon, who was asked by journalists why the ICRC stopped talks with the armed men on the release of kidnapped victims, said the ICRC only, "provided logistics support with other stakeholders as the negotiations were ongoing, which was part of its humanitarian mandates. "I just want to say that ICRC has not been negotiating. ICRC provided as a humanitarian

Alleged Organ Harvesting: Ukpo Asks Court to Reverse Order Releasing Bio-data to Ekweremadu, London Court Alex Enumah in Abuja

We note your instruction for the release of 40,000 tonnes of grains. We also note efforts on improving security and measures to cut oil theft.” The PGF chairman told the president that some APC governors were contesting elections for second term in 2023 with impressive records

conclusion of the trial. While they pleaded not guilty to the charge, they further argued that Ukpo was not a minor and was never induced to donate his organ. They had through their lawyers in Nigeria applied for an order directing relevant government institutions and banks to release the bio-data of the alleged victim so as to enable them effectively defend the charge; an order which was granted by the court. However, Ukpo had expressed displeasure with the order on the release of his vital information to a London Court. In a motion dated August 15, he faulted the entire proceedings of the court which led to issuance of the order, arguing that proper parties were not before the court when the reliefs of Ekweremadu and his wife were granted by the court.

According to him, neither him nor the AGF who was directed to transfer his bio-data to the UK were parties in the motion brought by Ekweremadu and his wife. Respondents in the motion filed in June this year included the National Identity Management Commission (NIMC), Comptroller General, Nigeria Immigration Service, Stanbic IBTC bank, United Bank for Africa (UBA)) and Nigeria Interbank Settlement System. However, in the motion filed on his behalf by Mr. Bamidele Igbinedion, the applicant submitted that his fundamental rights to fair hearing and personal privacy had been grossly breached. Hence, he prayed the court to reverse its earlier order directing the release of his bio-data to Ekweremadu and his wife for their defense before Uxbridge Magistrate Court in London.

organisation with this particular mandate, neutrality, the logistical support when at that time negotiations were ongoing, with the authorities of Nigeria and abductors, for the release of those documents many years ago,” he explained. Yann decried the continued rise of missing persons in Nigeria, especially in the north-east, where he said the ongoing conflict in the region continued to have "devastating impacts on the people of the country." He added: "Nigeria, unfortunately, has the largest number of missing persons ever registered by the International Committee of the Red Cross in Africa as more than 25,000 persons were reported missing to International Committee of the Red Cross and the Nigerian Red Cross Society. "This includes more than 2000 cases that were registered after January 2021. The number of missing persons continue to rise every day. Yet, the ICRC notice that this figure represents a fraction of a wider undocumented humanitarian tragedy. "More than half of the missing persons registered by the International Committee of the Red Cross the Nigerian Red Cross Society in north-east Nigeria were minors. At the time of disagreements. "We need immediate action that matches the scale and urgency of this humanitarian tragedy,” he appealed, nothing that the ICRC would continue to support the Nigerian authorities, the Nigerian Red Cross and other agencies to prevent disappearance by encouraging and promoting international best practices. Meanwhile, the Executive Secretary, National Human Rights Commission, Chief Tony

Ojukwu, has disclosed that the SARS Panel established by the federal government to investigate human rights abuse during the #EndSARS protest achieved a great milestone, describing it as the most effective in the history of fight against human rights violation in the country. He said: "I am sure you have heard about the SARS panel. That panel was established by the National Human Rights Commission in collaboration with the National Economic Council in all the states. "They were targeted at taking care of issues of human rights violations, cases of disappeared persons, trying to deal with issues of police extortion, issues of extra judicial killing, issues of corruption and all kinds of human rights violation "This is the biggest effort by Nigeria in the history of human rights violation. I have never seen a government set up panel in about 29 states looking into the issues of human rights violation it has never happened before. The Lagos State panel has paid compensations to victims of human rights. "Last November, this Commission paid about N146 million to victims of human rights violations. In the next one month we are going to pay about N300 million to victims of human rights violation. This is a ground breaking effort which has never been done in this country before. "With the coming on board of the Ministry of Humanitarian Affairs and the Secretary to the Government of the Federation Office with the ICRC, there are better days ahead in dealing with issues of human rights violation.”

WEDNESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

COURTESY VISIT TO TINUBU/SHETTIMA CAMPAIGN OFFICE... L-R: Mr. Ayal Raz, Israeli Consul; Inbar Lipman Garden, All Progressives Congress Presidential Candidate, Mr. Bola Tinubu, and Ambassador of Israel to Nigeria, Michael Freeman, when the ambassador visited Tinubu in Abuja...yesterday

Okowa Lauds FG over Oil Facilities’ Surveillance Contract Group assures Tompolo will deliver on pipeline contract Sylvester Idowu in Warri Delta Governor and the Vice Presidential candidate of the Peoples Democratic Party (PDP) has commended the federal government for awarding oil facilities surveillance contract to a firm owned by Chief Government Ekpemupolo, an indigene of Niger Delta. He said the award indicated that the government heeded his advice for a review of oil facilities surveillance contracts to involve oil-bearing communities to check rising cases of oil theft, which he gave when a federal government delegation on oil-theft issues visited him recently in Asaba. The delegation, which included the Chief of Defence Staff (CDS), General Lucky Irabor and Managing

Director/Chief Executive Officer of NNPC Ltd., Mallam Mele Kyari was led by Minister of State for Petroleum, Chief Timipre Sylva. The governor pointed out that giving the job to people from Niger Delta would give them a sense of belonging and help to curtail the rising incidence of oil theft with its attendant effect on the nation's economy. the Chief Press Secretary to the Governor, Mr. Olisa Ifeajika, gave the commendation during a press conference in Asaba, yesterday, adding that it was high time host communities, which suffered severe impacts of oil exploration and exploitation in the region were partners in the process and benefited from the proceeds. According to him, giving surveil-

lance contracts to indigenes was the way to go since they know the terrain very well and would put in their best to guard the facilities. "A few weeks ago, the federal government delegation was here in Delta led by Minister of State for Petroleum, Chief Timipre Sylva; Chief of Defence Staff, General Lucky Irabor and the Managing Director/CEO of the NNPC Limited, Mele Kyari and other stakeholders visited Governor Ifeanyi Okowa. "Their mission was to ask the governor as a stakeholder in the Niger Delta, to assist in whatever way to curb, if not end, oil theft that according to them was sabotaging our economic re-engineering. "Our governor's admonition was that to check the rising oil theft cases, the federal government should

involve the oil-bearing communities, where the oil is produced. "And, to involve them, the surveillance contracts for oil facilities surveillance in the area should be reviewed. "In other words, make them to own it, let them be partners because if you make them part of it, they will guard, police and protect it. "They will do anything to make sure that they protect it, but if you alienate them from it, they will leave it and allow anything to happen to it," he said. He said the state was happy to hear that just a few days after visit, the federal government listened to Governor Okowa's advice and awarded the surveillance contract to Chief Government Ekpemupolo popularly known as Tompolo.

Anatogu: Nigeria Set to Begin Trade Under AfCFTA Gilbert Ekugbe The Secretary, National Action Committee on the African Continental Free Trade Agreement (AfCFTA), Mr. Francis Anatogu, yesterday, announced that all was set for Nigeria to begin trading activities under the AfCFTA. Anatogu stated this at the Lagos Chamber of Commerce and Industry's (LCCI's) Export Group Symposium in Lagos. There had been concerns that since one year after the implementation of the trade pact which came into force on January 1 last year, Nigeria was yet to make the trade agreement operational due to structural challenges, the Covid-19 and lack of consensus on trade protocols The Secretary said Nigeria must pay attention to trade facilitation, policies, infrastructure, trade information, free movement of people and goods, finance and institutional coordination between the federal government and private sector. "What we are focusing in 2022 is understanding where the opportunities are and we have already identified areas

that are priorities for AfCFTA in terms of products and services. “We have also been able to dimension them into arrowheads to help us focus on the short term and frontiers that we can focus on the medium to long term," he explained. He, however stressed the need to grow the volume of transactions within the country while also supporting and encouraging businesses to take advantage of the African markets. Anatogu added: "At the National Action Committee, our mission and vision for the AfCFTA is to take 10 per cent of Africa's import from the world to provide the products and services from Nigeria that are currently being supplied by other countries outside Africa, but we know that for us to achieve that, we need to focus on developing value chain in products and services." He said according to the Nigerian Export Promotion Council (NEPC), the country’s exports have grown in the past one year, advising that the next step for Nigeria was to boost its manufacturing presence in

the continent. He noted that so far, seven countries have started piloting trade with AfCFTA, saying Nigeria was on the verge to joining. According to him, one of the key elements the country had been trying to put in place was the preferential trade process to be able to trade under AfCFTA. "The Nigerian Customs Service (NCS) has developed this procedure and is being reviewed with the stakeholders with a view to adopting it and pubksihing it for businesses to start to use," he added. Earlier, the president, LCCI, Mr. Michael Olawale-Cole, described the AfCFTA launched in 2021 as a flagship project of the African Union’s (AU) Agenda 2063, a blueprint for attaining inclusive and sustainable development across the continent over the next 50 years. He said it aims to boost intraAfrican trade by providing a comprehensive and mutually beneficial trade agreement among the member states, covering trade in goods and services, investment, intellectual property

rights and competition policy. He highlighted that the PanAfrican Payments and Settlement System (PAPSS) as a centralised payment and settlement infrastructure for intra-African trade and commerce payments, stressing that the initiative which was developed in collaboration with the African Export-Import Bank, (AFREXIM) Bank would facilitate payments as well as formalise some of the unrecorded trade due to prevalence of informal cross-border trade in Africa. "We could generate more foreign exchange earnings if these primary products are processed into finished goods for the international markets. “The potential of non-oil exports are largely untapped due to over dependence on crude oil exports," he averred. On her part, Chairperson, LCCI, Export Group, Mrs. Bosun Solarin, said the actualisation of the benefits of AfCFTA remains elusive and unachievable without effective distribution channel in which logistics play an indispensable role of bridging the gap between the dreams and realities of AfCFTA.

"The thrust here is that a few days after, that injunction by Governor Okowa was adopted by the federal government. I am sure that it was through the instrumentality of the delegation that came to Delta. "We will like to commend them for that because involving host communities is kernel to policing oil facilities and checking oil theft and other vices that occur in the process. "Across Niger Delta, the government 's step was applauded and commended because it is not just for Tompolo but to the host communities. "The good thing here is that the federal government heeded good counsel by accepting the advice of our Governor, Senator Ifeanyi Okowa, by giving the surveillance contract to Tompolo. "So, we are commending the government for listening to the cries of host communities, because if they cannot own the oil blocks, let them, at the least, participate in the ones they can," he said. On striking university lecturers in the country, Okowa’s spokesman described the situation as deplorable and called on the federal government to come and understudy how Delta Government was managing four universities and enjoying industrial harmony. He said the same way Okowa advised federal government on oil theft, they should listen to him on education to understand how he and his team were managing four universities, running without strike. "They should come and learn how Delta is keeping lecturers on campus while lecturers in federal universities have been on strike across the country since February. "There is industrial harmony in our universities in Delta and all higher institutions in the state are in session. "If you will recall that after we concessioned the Asaba Airport, the Federal Government sent an aviation team to Delta to find out how the concession was done," he stated. On Sheriff Oborevwori's Appeal Court victory, Ifeajika described it as a family affair and a call for all

party members to close ranks and come together and build the party to face the major opposition. Meanwhile, a group, the Coalition of Niger Deltans (CND) has assured that former Niger Delta leader of ex-agitators, Chief Government Ekpemukpolo alias ‘Tompolo’ would secure the pipelines across the region for the benefit of the country. The group maintained that Tompolo was in the best position to execute the pipelines surveillance contract awarded by the federal government, saying he had carried out similar exercise successfully in the past during the Ex- President Goodluck Jonathan's administration. The CND in a communique issued at the end of an emergency meeting in Port Harcourt, Rivers State and signed by its National President, Tamarapreye Tareware and National Secretary, Meshach Bebenimibo respectively, noted that the federal government's decision to award the contract to Tompolo was not misplaced. The group commended President Muhammadu Buhari, the Group Managing Director of the Nigerian National Petroleum Company (NNPC), Mele Kolo Kyari and the Minister of State for Petroleum Resources, Timipre Silva for the renewed effort to protect the pipelines in the region through the participation of locals in the region. It noted that Tompolo had done enough for keeping the peace in the Niger Delta, “by using his God given wisdom to curb negative devices in the Niger Delta.” The CND however decried the recent outbursts of Arewa youth group opposing the involvement of Niger Delta youths in protecting government's national assets in the region, noting that if they had done similar thing the north wouldn't have faced the insecurity in their region. "It is disheartening for the Arewa youth group addressing journalists during their protest. We recall the spokesman of AAYG, Victor Duniya, saying We are here to register our displeasure over the newly awarded contract.

WEDNESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

AMAECHI BAGS LAW DEGREE... L-R: Former Minister of Transportation, Hon. Rotimi Amaechi and Head of Department in the Faculty of Law, Baze University, Dr. Asuquo Esu, after the ﬁnal year exams at the university campus, Abuja, where Amaechi just bagged a degree in law.

Ex-Foreign Affairs Ministers Tackle Atiku, Tinubu, Obi over London Meetings Gboyega Akinsanmi A body of former foreign affairs ministers and retired diplomats, the Nigerian Academy of International Affairs, has condemned leading presidential candidates and serving governors, among others, for leaving Nigeria to hold political meetings in London, Paris and Dubai. The academy, set up for open and private debate on the emerging new world order, lamented that such a decision had already exposed Nigeria, directly or indirectly, to unwarranted Western influence. In a statement by its President and former Minister of External Affairs, Prof. Bolaji Akinyemi, yesterday, the academy described the political meetings held by some presidential candidates outside the country as ill-advised and unwitting jamboree of shame. The presidential candidates – Alhaji Atiku Abubakar of Peoples Democratic Party (PDP), Senator Bola Tinubu of All Progressives (APC) and Mr. Peter Obi of Labour Party (LP) – had held separate meetings with Rivers State Governor, Mr. Nyesom Wike and his colleague-governors in London, Paris and Dubai. Other governors at the meetings were Oyo State Governor, Mr. Seyi Makinde; Benue State

Governor, Mr. Samuel Ortom and Abia State Governor, Dr. Okezie Ikpeazu, who aligned with Wike after Abubakar emerged the presidential standard bearer of PDP and nominated Delta State Governor, Dr. Ifeanyi Okowa, as his running mate. As the feud between Abubakar and Wike grew worse by the day, Tinubu and Obi had preyed on the crisis, now courting Wike and his allied governors for support ahead of the 2023 presidential election scheduled to hold on February 25 due principally to his political influence in the south. Concerned about the decisions of the presidential candidates, the academy said it was most unfortunate and heart-breaking that some Nigerian leaders had to abandon the shores of Nigeria for the ex-colonialists’ capitals of London and Paris in search of delusion-solutions to Nigeria’s problems. Akinyemi, who issued the statement on behalf of 17 other former foreign affairs ministers and retired diplomats, lamented that some horse-trading, which dominated their so-called talks on bringing “enduring hope to Nigeria,” centred on counting their chickens before the eggs are hatched. He said the ill-advised and unwitting jamboree of shame

displayed by the leading political leaders “has demonstrated once more that the Nigerian environment created and polluted by them is not conducive to their vainglorious self-importance and unearned esteem. “Consequently, and because of their Neo-colonial mentality,

Governor Godwin Obaseki of Edo State has said the state is exploring property tax as new areas to boost its internally generated revenue (IGR) to shore up shortfalls in its revenue. Obaseki disclosed this after a closed-door meeting with heads of Ministries, Department and Agencies (MDAs), responsible for collecting revenues in Edo State. The governor who disclosed this to journalists, after the meeting, said the shortfall was attributable to a Court judgement stopping the state from collecting tenement rates. He said he had instructed revenue collectors in the state

to ensure efficient collection of property taxes. According to him, “I am here to meet with heads of Ministries, Department and Agencies responsible for collecting revenue in the state to see what plans we have in place to recover from shortfalls. “We have a major shortfall in the areas of property taxes because of a judgement which stopped the state from collecting tenement rates. So, we are dropping the issue which is quite unfortunate because tenement is supposed to go to the local government. “In the meantime, I have given instructions that property taxes must be collected as that is the basis on which we can continue

were perceived to be washing our dirty linens in the full glare of the world,” he lamented with grave concern about the future of Nigeria.” While former Director General, Nigerian Institute of International Affairs (NIIA), Prof. Bola Akinterinwa serves as its

Secretary, other members of the academy were Lt. General Agwai Martin Luther, Prof. Joy Ogwu, Mr. Odein Ajumogobia (SAN), Prof. Jide Osuntokun, Prof. Alaba Ogunsanwo, Prof. Akin Oyebode and Amb. Godknows Igali and Director General of NIIA, Prof. Eghosa Osagie, among others.

Nnamani, Onyeama, Chime, Eze, Okechukwu, Others Petition Adamu, Want Enugu Exco Dissolved Agballah: I won't succumb to distractions from Abuja politicians Adedayo Akinwale in Abuja The crisis rocking the Enugu State chapter of the All Progressives Congress (APC), yesterday, peaked after some chieftains of the party met with their National Chairman, Senator Abdullahi Adamu and other members of the National Working Committee (NWC) in Abuja, where they demanded a dissolution of the state exco. They also demanded the setting up of a Caretaker committee to pilot the affairs of the party in the state, going forward. But the party chairman in the state, Ugochukwu Agballah, has said he would not succumb to un-

Obaseki Explores Property Tax as Means to Boost IGR, Shore up Revenue Shortfalls Adibe Emenyonu in Benin City

which blinded them from seeing and appreciating the goodwill and resilience of Nigerians, they preferred to savour Western atmosphere. “The implication of which is the exposure of Nigeria directly or indirectly to unwarranted Western influence, particularly as they

to run the government. We cannot build any more roads, drainages, and attend to the needs of citizens without taxes.” The governor further stated, “We don't expect those that don't have money to pay taxes but rather the people that own properties; they are major stakeholders of the economy and are those we are expecting taxes from. “We are about 80 per cent of where we are expected to be. We have a 20 per cent deficit in the first six months of this year 2022 and it’s different from where we are expected to be. But we are working hard to achieve our goal as far as revenue generation is concerned in Edo State.”

necessary distractions from people he dismissed as Abuja politicians, adding that, the so-called party chieftains were merchants not even known at the Wards levels. However, leader of the delegation and former President of the Senate, Senator Ken Nnamani, submitted a petition to Adamu, titled: "An appeal and petition for urgent intervention to rescue the APC party in Enugu from its downward spiral, implosion and imminent collapse." Other party chieftains at the meeting included the Minister of Foreign Affairs, Mr. Geofrey Onyeama; former Governor of Enugu State, Sullivan Chime; former APC governorship candidate in the state, Senator Ayogu Eze; Director General, Voice of Nigeria, Osita Okechukwu; former Speaker of Enugu State House of Assembly, Eugene Odo, and Gbazuagu Nweke Gbazuagu, among others. The APC stakeholders said the party in Enugu has recorded an unprecedented milestone of reinventing itself during the last membership registration exercise. They said the party rebounded in goodwill as membership soared and the party continued on this positive trend into the ward and local government congresses and was cruising towards taking away the shine from the ruling party in the State. The petition read: "A major crack, however, emerged during the state congress, when Mr. Ugochukwu Agballah was surreptitiously maneuvered into the party to become its State Chairman to the bewilderment and vehement opposition of a majority of the party members, who knew his

antecedents as a person and in Enugu State politics." The stakeholders reminded Adamu that when he was made the Chairman of APC National Peace and Reconciliation Committee, the former governor of Enugu State, Chime led a protest of stakeholders/elders of Enugu State APC against the emergence of Agaballah as State Chairman. The stakeholders said Chime led the protest on two grounds: non-membership of Agballah and the controversial and irregular process of Agballah's emergence as State Chairman. "Ugo Agballah was given the benefit of the doubt by a few leaders of the party and issued a Certificate of Return. It was felt by those few leaders that the party needed to change direction at all cost and have a vibrant leader, who could finally unite the Party in the State. "Unfortunately, the new Chairman did not waste time in proving those majority leaders, who opposed his emergence correct in their warning. He immediately systematically dismantled the core of the party structure and brought in his followers. "He insulted the party leaders, including those few, who supported his emergence, sidelined them completely in matters affecting the running of the party in the state and has been operating as a sole administrator or indeed a dictator! The result has been the withdrawal from the Party of a growing number of important leaders and members," the petition added. However, responding, Agballah said the so-called party chieftains

were merchants not even known at the Wards levels, adding that, prior to his assumption of office and nomination of Chief Uche Nnaji as governorship candidate, nobody had ever visited or campaigned in any of the wards above. Stressing that himself and Nnaji had been on tour of the 260 wards in Enugu State, Agballah said, "Prior to Uche Nnaji’s nomination nobody has ever given a dime to any ward. None of these eminent personalities have ever contributed one dime to the party at the State, local ward, zonal or national level. "None of them has been seen in their wards. Chief Nnaji has been sponsoring ward, LGA and State meetings since he indicated interest to run as governorship candidate. "The truth is that we, the State Executive asked all leaders and stakeholders to relocate from Abuja and go and strengthen their wards and none agreed. They want me to be holding meetings with them in Abuja. "Unfortunately, I have relocated to the wards and have visited almost 180 wards as of today. As of this minute, I am sending my report from Olo ward in Ezeagu LGA. These eminent personalities and public office holders are mostly unknown in their various wards and do not participate in any APC activity in their various wards no wonder none of them won their respective polling booths in 2015 and 2019." Agballah, therefore, challenged the party chieftains to present evidence of their attendance in any meeting of their Wards and local government meetings since October 2021 when he emerged the State Chairman.

WEDNESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

BILATERAL SESSION WITH HEALTH SECTOR AGENCIES... L-R: Acting Chief Medical Director, National Hospital, Abuja, Dr.Aisha Umar; Minister of State, Health, Ekimankama Nkama; Director, Finance/Account, Federal Ministry of Health, Mr. Saliu Ibrahim and PHOTO: ENOCK REUBEN Medical Director, Federal Medical Center, Keﬃ, Nasarawa State, Dr. Adamu Yahaya, during the bilateral session with health sectors agencies in Abuja... yesterday

ASUU Strike: FG Summons Vice Chancellors, Pro-Chancellors Lecturers give condition for truce KACRAN calls on parties to sheathe sword, end strike

Onyebuchi Ezigbo, Michael Olugbode and Kuni Tyessi in Abuja Amidst concerns over the indefinite strike declared by the Academic Staff Union of Universities (ASUU), the federal government has fixed a meeting with Pro-Chancellors, Vice Chancellors and Chairman of Councils of the federal universities

in the country. The meeting scheduled to take place next Tuesday at the National Universities Commission (NUC), Abuja, would be chaired by the Minister of Education, Adamu Adamu. But the ASUU leadership has listed some of the conditions under which they would accept to end their over six months industrial

action, saying the federal government has refused to engage the union in a sincere and serious dialogue that would bring an end to the crisis. At the same time, the Kulen Allah Cattle Rearers Association of Nigeria (KACRAN), has called on the federal government and the Academic Staff Union of Universities (ASUU) to sheathe

APC: No Rift Between Tinubu, Adamu over Campaign Council Adedayo Akinwale in Abuja The All Progressives Congress (APC), has said there was no rift between its presidential candidate, Asiwaju Bola Tinubu, and the National Chairman of the party, Senator Abdullahi Adamu, over the composition of the campaign council. Tinubu had recently announced the Plateau State Governor, Simon Lalong and the Minister of State, Labour and Employment, Festus Keyamo as Director General and spokesman of the Presidential Campaign Council. However, yesterday, in Abuja, the APC Deputy National Organising Secretary, Hon Nze Chidi Duru, dismissed insinuations doing the rounds that both Tinubu and Adamu have been working at cross purposes. The National Working Committee (NWC) member said the clarification became imperative following media reports that the ruling party was unable to unveil the full list of members of the Presidential Campaign Council as a result of power tussle between the duo. Duru stated that the announcement of Lalong and Keyamo enjoyed the buy-in of the NWC of the party. The party chieftain insisted that both the Tinubu team and the party national secretariat were working together and would unveil the full list of members of the campaign council before the

commencement of the campaign as stipulated in the schedule of activities of the Independent National Electoral Commission (INEC). He words: "There is no power tussle over positions. None of such has happened and the party and the candidate are working together. But it is important to say that we agreed on the DG and the spokesman. The governors will control the structures at the zones.

The party can't be excluded and it won't even exclude anybody. “We will have an embracing and all-inclusive campaign council. There is no discord anywhere. More importantly, the party chairman agreed on the issue of DG and spokesman. Before the INEC flag on September 28, all other positions will be unveiled. The chairman is leading the conversation."

their swords and find immediate solution to the prolonged strike by the lecturers in the interest of Nigeria’s development. A letter dated August 26, 2022 and addressed to the Pro Chancellors, Vice Chancellors and Chairman of the Governing Councils of the universities, stated that the meeting was to consider issues relating to the long closure of the federal universities, the recent decision of some university based unions to suspend their strike with effect from August 24 and the continued strike by ASUU. The letter signed by the Deputy Executive Secretary of the NUC, Mr. Chris Maiyaki said, "It has become necessary for the Governing Councils and management of the universities to be briefed on the decisions and actions taken by the federal government so far, to allow for a well-coordinated review of the situation, including building consensus around succeeding actions." But the ASUU leadership, led by its president, Prof. Emmanuel Osodeke while featuring on the

Channels Television yesterday said, unlike the administration headed by former President Goodluck Jonathan, which took up the issues and negotiated an end to the strike within 24 hours, the current has not deemed it important to tackle ASUU's demand decisively. Asked to state what government has not done that necessitated their continued declaration of indefinite strike, Osodeke said, "Where is the money that you were alleged to have approved for revitalisation? How much and where is it lodged? Have you accepted that UTAS that was scored high by the integrity test conducted by the federal government and has it been approved? "Thirdly, has government accepted the proposal made by its panel led by Prof. Nimi Briggs?If so it is we that they should be talking to not to go the media. It is we that the government should be talking to and not to go and be talking to the Press. That is collective bargaining." Meanwhile, KACRAN, in a statement by its National President, Khalil Bello, said the industrial

action, which began February, this year was no longer healthy and was doing no one any good. “We members of KACRAN wish to join many well-meaning Nigerians who are persistently calling on federal government and ASUU to settle their differences and end the ongoing strike. “Our clarion call/passionate appeal is based on the following points: We strongly believe that, education is the bedrock for nation building and our universities are the pinnacle of learning where people will advance their studies for country's economic development. “The major concern is that, if the strike is allowed to continue unchecked, the nation's educational system will be seriously affected negatively or shall collapsed in totality, because according to many indicators, many lecturers, who government had spent so much money on their training will annoyingly relinquish their active services and move to Europe or other developed countries, where they hope to get higher remuneration,” Mohammed said.

Buhari, Atiku, Tinubu Celebrate Kukah on His 70th Birthday Ex-VP hails Lamido at 74, congratulates Cardinal Okpaleke Deji Elumoye, Chuks Okocha and Adedayo Akinwale in Abuja President Muhammadu Buhari, the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar as well as the presidential candidate of the All Progressives Congress (APC), Mr. Bola Tinubu, yesterday rejoiced with the Catholic Bishop of Sokoto Diocese, Rev. Father Matthew Hassan Kukah, as he marks his 70th birthday anniversary today, August 31, 2022. The president also celebrated with veteran journalist, Mrs. Bisi Amagada on her 80th birthday. Buhari in a statement yesterday, by his Media Adviser, Femi Adesina, joined the Catholic Church, friends and associates in celebrating with the priest on the milestone.

He noted the contributions of the priest, teacher, scholar and writer to national discourse and prayed that the Almighty God would grant Kukah longer life, good health and strength. For Amagada, Buhari joined family members, friends and relations to celebrate the journalist, who served as Board member of the News Agency of Nigeria (NAN) and New Nigeria Newspapers, bringing her wealth of experience in the newsroom to grow many media houses in the country. The president noted the brilliance, clarity and accuracy that Amagada projects in her writings and administrative work, consistently placing interest of the country and citizens in right perspective, while drawing her inspiration from deep fear of God, and love for studying the

Holy Bible. Atiku, in a statement yesterday, described Kukah as a remarkable public intellectual and formidable advocate for good governance whose contributions to Nigeria’s democracy are immeasurable and unquantifiable. The statement in Abuja, was signed by his Media Adviser, Paul Ibe, to celebrate Bishop Kukah at 70. According to the former vice president, “the man of God has never hesitated to speak out on Nigeria's ills and criticise our leaders when they derail from the responsibility of providing good governance and deepening our democracy. “Bishop Kukah is widely misunderstood because he speaks truth to power; a task that often attracts adversaries in our kind

of society.” The Wazirin Adamawa explained that “Kukah is a great asset to Nigeria and humanity because of his tireless commitment to peace, unity and peaceful coexistence in the country and the passion he attaches to these efforts is amazing.” “Not once did I ever hear Kukah preach hate or bigotry in his sermons. All his sermons are focused on issues that can make Nigeria better. His passion for our unity and justice for all is one of his greatest virtues.” On the elevation of Bishop of Ekwulobia as a cardinal, Atiku said, "I congratulate Bishop Peter Ebere Okpaleke on his creation as a Cardinal. I believe that this elevation is not only a recognition for the Bishop of Ekwulobia in Anambra State, the Catholic Bishops Conference, and

the Catholic Church but also for Nigeria in general. I pray for more extraordinary grace and wisdom in discharging his assignment. On his part, Tinubu described Kukah as a voice of conscience as he celebrates his 70th birthday. Tinubu in a letter he personally signed and addressed to the prominent clergy acknowledged the contributions of the Catholic Bishop of Sokoto Diocese to national development and progress in the over four decades of pastoral work. In the letter, Tinubu noted that over four decades, Kukah's homilies as a cleric, as well as his contributions as a public intellectual have enriched the national discourse and highlighted the role of morality in the public space. Continued online

WEDNESDAY AUGUST 31, 2022 ˾ T H I S D AY

NEWS

BOOSTING FIGHT AGAINST OIL THEFT…

L-R: Garrison Commander, 6 Division, Nigeria Army, Brig. Gen. S.S. Tilawon; Rivers State Commissioner of Police, Friday Eboka; Minister of Interior, Ogbeni Rauf Aregbesola, and Commandant General, Nigeria Security and Civil Defence Corps (NSCDC), Abubakar Audi, at the inauguration of eight gunboats meant to tackle ºoil theft in Port Harcourt, Rivers State…yesterday

Appeal Court Nullifies Igboho’s N20b Damages against FG, DSS Kemi Olaitan in Ibadan The Court of Appeal sitting in Ibadan, yesterday set aside the judgement of an Oyo State High Court which awarded N20 billion damages to Yoruba self-determination activist, Chief Sunday Adeyemo, (aka Sunday

Igboho). The presiding judge, Justice Muslim Hassan, delivering judgement in the appeal filed by the Attorney General of the Federation, Department of State Services(DSS) and Director, Department of State Services in Oyo State, against

the judgement of the High Court, held that Justice Ladiran Akintola, acted on the wrong principles of law in awarding the cost to Igboho. Justice Akintola had on September 17, 2021, awarded the sum of N20 billion as damages against the Attorney General of the Federation, Abubakar Malami( SAN), and the DSS

over the invasion of Igboho’s Ibadan residence, on July 1. But Justice Hassan held that the judgement of the lower court was not supported by any evidence, but by two affidavits. He said the judge cannot assess damages using his own conceived parameters, stating that there was no evidence that quoted the value of damages

at Igboho’s residence. Justice Hassan also held that there was no evidence including autopsy to support the claim that two people were killed in the activist’s residence during the invasion. According to the judge, the lower court assumed jurisdiction of the case to look at the enforcement of fundamental

human rights suit filed by Igboho without looking at the merit of the case, noting that the court should not have assumed jurisdiction of the case without looking at its merit. The judge added that the case did not qualify under the enforcement of human rights because there is a threat to national security.

Nasarawa State branch of the Association of Senior Civil Servants of Nigeria (ASCSN) yesterday advised the expelled President of the association, Bola-Audu Innocent, to steer clear of the national secretariat of the ASCSN in Lagos and Abuja. The state branch, therefore,

invasion of the national secretariat of the association in Lagos by the expelled president in company of some retired staff and suspected hoodlums on August 22, 2022. The state branch of the association gave Bola-Audu the advice in a statement made available to journalists in Lafia by the branch Chairman; chapter

Haruna Ewa, Andrew Magaji and David Polang respectively, adding that the expelled president should steer clear of all the 36 state offices of the union in the country. The statement read in parts: “The association in Nasarawa State recall that Bola-Audu Innocent, who is facing charges and prosecution by the authorities of the National

Traffic in Persons (NAPTIP) over his involvement in cases around human trafficking, consequent upon which he was suspended by the union and subsequently expelled, instead of exhausting the court process he initiated on the matter of his suspension, has resorted to thuggery and extra-judicial means to return to power.

Company Offers Free Lie Detector Test to Steer Clear of National Secretariat, Nasarawa Servants Tell Expelled President Presidential Candidates Civil frowned at an alleged ‘gangster-like’ Chairman and state Secretary, Agency for the Prohibition of Igbawase Ukumba inLafia

Nigeria’s premier polygraph company, Hogan Polygraph and Investigations Limited, is offering a free lie detector test to all presidential and gubernatorial candidates. The company said it will provide this service as a means to ensure the Nigerian populace elects the most honest and ethical leaders. The Group Chief Executive Officer, Hogan Polygraph and Investigations Limited, Paul Ibirogba, in a statement made available to THISDAY said: “Companies across the nation are utilizing polygraph examinations as a tool to eliminate applicants with a fraudulent history in order to protect

their revenue from embezzlement and to verify employment history; the same can be done so that the Nigerian public chooses the best political candidates.” He added that Nigerians are increasingly demanding greater accountability, transparency and integrity from politicians, and a polygraph could help the electorate discern the leaders who have the nation’s best interest at heart. According to Hogan Polygraph and Investigations, political candidates who agree to a free lie detector test would be required to sign a waiver allowing the test results to be released to the public.

Ondo Robbery: Victim’s Family Accuses Police of Complicity Fidelis David in Akure

The family of one of the victims of robbery incident in Idanre town in Idanre Local Government Area of Ondo State, Tolulope Alalabiaye, has appealed to the state Commissioner of Police, Mr. Oyeyemi Oyediran, to avoid wasting time on the prosecution of one of the suspects who was arrested over the incident. Babatunde Adeoye, popularly known as ‘Para’, believed to be a supporter of the All Progressives Congress (APC), who recently shot four people at Ojota area

in Odode- Idanre, Idanre LGA, was arrested and paraded by the state Police Command last week. Some days after the parade of the suspect, the family said the police allegedly refused to charge the suspect to court. The state police commissioner, while parading the suspect in Akure, the state capital, said: “On August 16, 2022, a complainant reported that a group of boys numbering about five led by one Babatunde Adeoye (Para) shot and robbed him of his bag containing a large sum of money.”

Obaseki Sacks Oboh as Director of Edo Security Network, Appoints Olukoga

Adibe Emenyonu in Benin-city

The Edo State Governor, Mr. Godwin Obaseki, has approved the appointment of Mr. David Olukoga as the director of operations of Edo Security Network. In a statement, the Secretary to the State Government (SSG), Osarodion Ogie, said David Olukoga is to immediately take over from Emmanuel Oboh, who has just been relieved of his duties. The statement read: The Edo State Governor, Mr. Godwin

Obaseki, has approved the immediate disengagement of Emmanuel Oboh, director of Operations of the Edo Security Network. The disengagement of Oboh takes immediate effect. “The governor has, in his stead, approved the appointment of Olukoga as the new director of Operations of Edo Security Network. He is to take over with immediate effect.” Ogie added: “Oboh has been directed to handover all government property in his possession to the new director of Operations.”

APC Dismisses Masari’s Aide over Alleged Anti-party Activities Francis SardaunainKatsina

The Jibia Ward ‘A’ Chapter of the All Progressives Congress (APC) in Jibia Local Government Area of Katsina State, has expelled the Special Adviser to Governor Aminu Bello Masari on Skills Acquisition and Vocational Training, Mr. Aminu Lawal, from the party over alleged

anti-party activities. The APC’s Secretary in Ward ‘A’, Mr. Babangida Abdullahi, who announced the expulsion of Lawal from the APC to journalists in Katsina, said that the expulsion was with immediate effect. Abdullahi explained that 25 out of the 27 APC executive members in the ward have endorsed the

dismissal of the former chairman of the Jibia Local Government for indulging in different anti-party activities and sabotage. According to him, “APC in Jibia Ward ‘A’ has expelled Aminu Lawal who holds the position of special adviser on vocational training from the party for antiparty activities and sabotage. His

expulsion from the party takes immediate effect.” But Lawal, apparently miffed by the decision of the party, has resigned his appointment with the state government in a letter he personally signed and addressed to the Secretary to the State Government (SSG), Mr. Muntari Lawal.

Contempt: Court Reserves Judgement on Trade Union Crisis Wale Igbintade

Justice Rabi Gwandu of the National Industrial Court (NIC) in Lagos yesterday reserved for judgement the suit filed by the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), and nine others against Trade Union Congress (TUC)

over its 12th triennial delegates’ conference. Justice Gwandu adjourned for judgement following the adoption of written addresses in the main originating summon and the counter responses which was adopted by all parties. The Judge at the last sitting frowned at the flagrant disobedience

of her order, which restrained TUC from holding its 12th triennial delegates’ conference pending the hearing and determination of the substantive suit before the court. At the recommencement of the matter yesterday, the claimants’ counsel, Timothy Adewale, moved a pending motion filed against the defendants over disobedience

of the order made by the court, while he also asked the court to commit the TUC president and secretary-general to prison for their alleged disobedience to court order, which restrained TUC from holding its 12th triennial delegates’ conference pending the hearing and determination of the substantive suit before the court.

Lagos Labour Party Certifies Rhodes-Vivour as Guber Candidate

Ahead of the governorship campaigns scheduled for October,the Labour Party (LP) in Lagos yesterday warned its “gubernatorial placeholder,” Mr. Ifagbemi Awamaridi to stop parading himself a the party’s candidate for the State. The National Publicity Secretary of the party, Comrade Arabambi

Abayomi, who gave the warning on behalf of the National Working Committee of the party, gave the Certificate of Returns to Gbadegbo Rhodes-Vivour, who had emerged as the winner during the recently conducted primary, even as he urged the INEC to order the immediate arrest of Awamaridi. The Publicity Secretary also

inaugurated 24-member of the State Exco led by the chairman, Kayode Salako. Abayomi said: “I have the mandate of the national body to inaugurate the new Exco and give certificate of return to our candidate, Gbadegbo Rhodes-Vivour, if you (Awamaridi) continue to parade yourself as our gubernatorial

candidate, we will get you arrested. “The emergency of Gbadegbo Rhodes-Vivour as the 2023 Lagos State governorship candidate followed all the necessary laws, regulations and guidelines as provided in the LP Constitution, the Constitution of the Federal Republic of Nigeria and the INEC guidelines.

Gombe Clarifies Demolition of Illegal Structure Segun Awofadeji in Gombe

The Gombe State Urban Planning Development Authority (GOSUPDA) has said the demolition of an illegal structure belonging to Gombe Good Leadership Association was carried out in the spirit of the ongoing reclamation of the

development masterplan and maintaining the prevailing peace and tranquility the State enjoys. The Executive Chairman of GOSUPDA, Group Captain Peter Bilal ( rtd) stated this yesterday while addressing newsmen shortly after supervising the demolition exercise of an unauthorised structure, which

was alleged to converted into a campaign office of the Peoples Democratic Party, PDP governorship candidate in Gombe State, Mohammed Jibrin Barde. He said the demolition exercise became necessary because the building in question not only contravened some sections of the Land Use Act Decree of 1978,

Urban and Regional Planning and Development Board Law of 2001 and other development laws of the state but turned into buzzing political arena in a location directly opposite the Presidential Lodge within the Government House vicinity and area clearly marked for residential and government offices.

WEDNESDAY AUGUST 31, 2022 ˾ T H I S D AY

NEWSXTRA

OSUNTOKUN NOW FELLOW, ACADEMY OF LETTERS…

Mr. Akin Osuntokun (middle), and his parents in-law, Chief and Mrs. Ilesanmi Ajibade during Osuntokun’s investiture as Fellow, Nigeria Academy of Letters at the University of Lagos…recently

Again, Court Refuses to Admit Kyari, Others to Bail in Alleged Cocaine Deal Saga Alex Enumah in Abuja Justice Emeka Nwite of a Federal High Court, Abuja, has once more refused to admit to bail the suspended Deputy

Commissioner of Police, Abba Kyari and two others standing trial in alleged hard-drugs deal. Justice Nwite declined to grant the request yesterday, while delivering ruling on

Police Nab Man for Death of His Friend in Kogi Ibrahim Oyewale in Lokoja The Kogi State Police Command has arrested a middle aged man in connection with the death of his friend, who allegedly buried the corpse in his own house in Lokoja, Kogi State. The accused is currently helping the operatives of the command to unravel the death of his intimate friend, who died mysteriously about two weeks ago. THISDAY gathered that the incident happened in Felele, in Lokoja where the late Kehinde resided with his family. The accused person, whose details were not released by police, has allegedly killed his friend, late Mr. Kehinde Ajayi,

on Sunday, July 24, 2023, who just bought Toyota Sienna ash colour with registration number Segun James LSD 228 HJ. It was learnt that the suspected killer, who is into air conditioner As the issues relating to outrepair, was said to have tricked of-school children continues to the late Kehinde at about 10 a.m. agitate educational administration, to come along to celebrate the the Lagos State Governor, Mr. Babajide Sanwo-Olu yesterday new car he just bought. It was further revealed that the said that his government would late Kehinde and others went commit more resources to ensure to an unknown place but was that all of such pupils are returned never seen again. to school immediately. When the family of the late The governor gave the Kehinde swiftly reported the indication to this at the opening incident of missing person to the police, one of his friend who was a suspect was arrested last week and he gave a useful information Francis Sardauna in Katsina to what happened to the late Kehinde. The Katsina State Government has purchased nine locally fabricated armoured personnel carriers (APC) vehicles and donated to security agencies in order to support their ongoing decision to reconnect the public war against terrorists in the state. The State Governor, Aminu buildings followed an agreement the government reached with Bello Masari, who handed the the management of the AEDC operational vehicles to the in Abuja on modalities for the security operatives yesterday payment of the N1.3 billion said the security vehicles were accumulated debt. It was gathered that the government fulfilled part of the agreement by paying a part of James Sowole in Abeokuta the debt and also the current bill. “The state government gave Ogun State Governor, Dapo assurance that on monthly Abiodun has assured residents basis it will be reducing the of Sango Ota-Ijoko-Olambedebt” the AEDC source said Akute-Alagbole that one out without divulging details of of existing two bad lanes on the federal roads in the area the agreement. would be reconstructed before December. The governor who visited the area recently, commended the residents for their patience sector in the state. despite the harrowing experience “Without such registration and approval, the government cannot guarantee or assure the state of infrastructure or the quality of teaching and learning offered in Ibrahim Shuaibu in Kano such schools,” he said. The education commissioner A three-storey building under advised all the affected persons construction collapsed in Beirut and schools to abide strictly by road GSM market in Kano the directive in their own interest, metropolis. People were trapped stating that “the state government when the building went down shall, two weeks from the date of at about 3.25 pm yesterday. this announcement, embark on Eyewitnesses said many people forcible closure of any defaulting were feared trapped in the rubble. They said some of the persons school, prosecute and punish any person or group of persons still inside the building when it caved in could not be rescued because flouting the directive.”

AEDC Restores Electricity to Niger Govt House, Others Laleye Dipo in Minna

The Abuja Electricity Distribution Company (AEDC) has restored electricity to the Niger State Government House, the Minna General Hospital and the Niger State Secretariat complex one week after it disconnected these public buildings from its supply lines over N1.3 billion debt. But the AEDC has not reconnected the Minna Water Works due to persistent rainfall that has made such exercise dangerous. THISDAY gathered that the

Enugu Closes Unapproved Private Schools Enugu State Government has directed the immediate closure of all private schools at basic and post-basic levels operating in the state without the written approval of the ministry of education. The directive, according to the Commissioner for Education, Prof. Uche Eze, followed the incessant springing up of mushroom private schools in Enugu without seeking registration or obtaining approval of the ministry as required by the law. Prof. Eze stated that the ugly development is a source of serious concern to the government and to all stakeholders in the education

the bail applications of the defendants. The Judge had on March 28, refused to admit the defendants to bail on the grounds that they would interfere with their trials. The National Drug Law Enforcement Agency (NDLEA) had on March 7, arraigned Kyari alongside Sunday Ubia, Bawa James, Simon Agirigba and John

Nuhu who are members of the police Intelligence Response Team (IRT). Others were Chibunna Umeibe and Emeka Ezenwanne — two alleged drug traffickers who were arrested at Akanu Ibiam International Airport, Enugu. In the charge marked FHC/ ABJ/57/2022, the agency had

accused the defendants of conspiracy, obstruction and dealing in cocaine worth 17.55 kilograms. While Umeibe and Ezenwane had pleaded guilty to the charges and have been convicted by the court, Kyari and his IRT members pleaded not guilty and asked the court to release them to bail pending

the determination of their trial. But the court in its ruling declined to grant the bail request and rather ordered accelerated hearing in the suit. However, following the attack on the Kuje Correctional Center last month, Kyari and others citing alleged threat to their lives brought a fresh application for bail.

Lagos to Eradicate Out-of-School Syndrome session of the 2022 Lagos State Education Summit, with the theme:’ Creating a sustainable Fit-for-Purpose Education Model’. Sanwo-Olu emphasised the need to collaborate with stakeholders in the education sector to register more schools that would be monitored by the government in order to check how they are impacting on the students. He stressed that his

government has made significant investment in education sector in the last three years, stressing his administration’s commitment to continue to prioritize the development of the sector through an increase in the budget. “This government has completed over 1,000 education projects in the last three years, because improved education is one of the legacies we wish to leave behind. And we are also

happy because the Summit came at the right time when the state has recorded improvement in the West African Examination Council, WAEC, results from 40 per cent to 80 per cent. “Education is not just a pillar in one of our THEMES agenda, it’s one of the dividends of democracy and one of the cardinal objectives of our administration. We see it as one of the tools that can end poverty in our system.

Katsina Donates Vehicles to Security Agencies for Terrorism Fight produced in Kebbi state at the cost of N100 million. He explained that the operational vehicles would augment current weapons being used by the security operatives in the war against terrorism in the state. He said: “With this nine, we have over 30 APCs now in Katsina in order to confront the bandits who are equally more and more sophisticated and daring, especially in the

frontline government areas of the state. “This is the first edition of nine, and we are expecting the 10th APC to support the operation of security agencies, especially in the frontline governments and those local governments that are equally affected”. Masari assured the people that with the massive support given to security agencies, efforts to curtail security challenges

in the state would be further enhanced and won soon. While lamenting over the activities of bandits’ informants, the governor appealed to residents to support the state government and the security agencies in the fight against crime and criminality. He also enjoined residents to be security conscious and to provide useful information to relevant authorities anytime the need arose.

Abiodun: Sango Ota-Ijoko-Olambe-Akure Roads to Be Motorable by December they have daily commuting through the bad road. Abiodun said though the road belongs to the federal government, the sense of urgency he attaches to the road was borne out of his desire to ensure that people who have been hitherto neglected for years in the area feel the impact of government during his administration. According to him, one lane of the 32 kilometers road from

Sango Ota through Ijoko to Alagbole would be done between now and December, to ensure that motorists and other road users who ply the road daily do so without stress which has been their lot for years. He, however, gave the contractor handling the road marching order to ensure that the December deadline set for the project was achieved. Meanwhile, Mrs. Anike

Anifowoshe, a popular trader in the area said; “this road used to be very bad. I have been doing my business in this area for more than ten years now and the road keep getting bad without attention from the government. “I am happy that our governor, after we cried out to him the last time he came here, has decided to do something. You can see that the road is now passable.”

Ganduje Sympathises with Victims of Collapsed Building of the weight of the broken blocks and sand. Four people were first rescued but residents lamented the late arrival of the rescue operations team. THISDAY, who visited the scene and gathered that the building collapsed under stalls located at the market. An eyewitness explained that his friend was among the trapped victims.

The eyewitness who could not control his tears said: “My friend’s phone rang and he answered saying he was suffocating.” Also, a member of the rescue team who got to the scene early, said an excavator was on ground to boost rescue efforts. The Public Relations Officer of Kano State Fire Service Saminu Yusuf said many have been rescued and taken to the hospital. Meanwhile, Kano state

government has suspended the swearing-in ceremony of commissioners-designate earlier scheduled for today in honour of victims trapped in collapsed building collapse. In a statement issued by the Commissioner for Information, Malam Muhammad Garba, the governor, while sympathising with the victims, ordered an intensified rescue operations to get to those trapped in the rubble.

WEDNESDAY AUGUST 31, 2022 • T H I S D AY

WEDNESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Salisu Eyes Great Super Eagles B Comeback Against Ghana Femi Solaja With less than 36 hours to the crucial second leg, CHAN 2023 final qualifier, Super Eagles B Coach, Salisu Yusuf, has promised that his team’s chances of overturning the first leg 2-0 defeat in Cape Coast is still very bright. Nigeria will host eternal rival, Galaxies of Ghana in the reverse fixture on Saturday at the MKO Abiola Stadium in Abuja with Eagles needing three un-replied goals to book the ticket to the CHAN tournament next January in Algeria. “We have learnt from our mistakes and want to assure Nigerians that convincing

C H A N 2 0 2 3 Q UA L I F I E R victory is achievable in Abuja this Saturday if my players go according to the new match plans we have in stock for our opponents. “The Ghanaians are a good side but we need to prove that we are better. With our numerous fans in the stands, we can overcome the 2-0 goal deficit from the first leg in Cape Coast,” observed Salisu Yusuf in an interview on NFF TV yesterday. He stressed further that his wards are now aware of Ghana's strength and capability ahead of the CHAN second leg qualifier.

“We have an idea where their strength is as a team and we will seek how we can restrict their them and explore their weaknesses. “Football is a game of 90 minutes and we must look to overturn the two goals we conceded in Cape Coast.” The return leg in Abuja will be the first match the senior team will play since Ghana’ Black Stars edged out Nigeria on away goal rule to pick the valuable ticket as one of Africa’s representatives at the World Cup Finals in Qatar starting this November.

Oshoala Back to Training After Six- week Layoff Nigeria international Asisat Oshoala, has returned to full training following a six-week long injury layoff, Spanish club Barcelona announced yesterday. Oshoala has been on the sidelines after sustaining a knee ligament injury with Nigeria at the Morocco 2022 Africa Women’s Cup of Nations in July. The unfortunate injury happened in the first half of Nigeria’s opening match in the 12-nation competition when she was brought down by a defender and the Super Falcons went on the lose the contest

2-1 against eventual champions South Africa. And the Spanish champions, took to their official Twitter handle to confirm the return of the Nigerian to full training on Tuesday. “SHE’S BACK ”, Barcelona wrote on Twitter in announcing return of the record five-time Africa’s Women’s Player of the Year to it’s training fold. Oshoala made history last season as she claimed the famous Pichichi award, finishing as top scorer with 20 goals despite being plagued with

DELSU Titans End IAUE Minders’ Q’final Hopes The Rivers-based Ignatius Ajuru University of Education (IAUE) Minders have crashed out of the ongoing Higher Institution Football League (HiFL) after a 4-2 loss on penalties to DELSU Titans in the midweek games. Both teams were levelled up on aggregate after a 5-5 score over the two legs. The IAUE Minders striker, Abel Eli stepped up to convert a penalty kick to put his side ahead in 10th minute of the first half of the game. Coach David Egbiri of IAUE Minders expressed his displeasure with the outcome of the game considering the preparedness of his side ahead

HiFL 2022 of the match. “My boys had their chances; they also played well and were meant to proceed to the next round if they listened and played to instruction”, Coach Egbiri lamented. The game was dominated by the IAUE Minders but was leveled up immediately after the half-time when DELSU Titans’ Onyekachi Njoku scored in the 46th minute to give his side a lifeline after a brilliant touch in the box putting the ball pass the Minders goalkeeper.

injuries injuries. In spite missing some preseason ties, she will look to bounce back in time ahead of the new Premiera Iberdrola season. Elsewhere, the former Super Falcons captain has been ruled out of the nation’s double header friendly against the reigning World champions, the United States. Both matches will come in the United States, firstly in Kansas City on September 3 before the reverse fixture three days later in Washington DC.

Asisat Oshoala is back to training after six-week on the sideline nursing the injury she copped during Super Falcons campaign in Moroccan

Akinwunmi Declares for NFF Presidency, Vows to Restore Nigeria’s Football Glory First Vice President of the Nigeria Football Federation (NFF), Barrister Seyi Akinwunmi, has vowed that Nigeria will recapture her old glory in football if he is elected the next president of the federation at the elective congress scheduled for September 30 in Benin City. Speaking at an elaborate ceremony held at the Transcorp Hotel in Abuja to formally declare his intentions to succeed Amaju Pinnick as NFF president, Akinwunmi who is also the chairman of the Lagos State Football Association, promised to re-engineer and reinvigorate the administration of football in

Seyi Akinwunmi...declares for NFF Presidency the country. He identified grassroots football development as one of the key

areas his board would fully explore with a view to sustaining the supply channel for all the national teams. The lawyer added that he will use his experience as the vice president of the NFF in the last eight years to enthrone an all-inclusive administration that usher a new era for the game. "I am coming to restore those glorious days when Nigeria used to be respected in the comity of football- playing nations in Africa and the world. "I will give priority to grassroots development so as to find replacement for the ageing players so that no gap will be

MultiChoice Announces Open Sporting Weekend on DStv, GOtv MultiChoice Nigeria has announced an open weekend of football frenzy for all lovers of the beautiful game. For the first time ever, 11 English Premier League matches will be open to both DStv and GOtv subscribers. The matches will air from Thursday, September 1 to Sunday, September 4, across SuperSport channels on GOtv and DStv. Announcing the special football treat, the Executive Head of Marketing, MultiChoice Nigeria, Tope Oshunkeye, said the live coverage is open to DStv customers on Premium, Compact Plus, Compact, Confam and

Yanga customers and for GOtv customers on Supa, Max, Jolli and Jinja packages. “We are making this football season a greater one for our customers and football lovers. For the first time ever, all EPL weekend matches will be available on GOtv. “Starting with Leicester City vs Manchester United match on September 1, DStv and GOtv customers, including those on select lower subscription packages, will enjoy live coverage of 11 EPL matches, ending with the big match between Manchester United and Arsenal on September 4.

L-R: Sportscaster, Nigeria Info FM, Anthony Dimwaka; Sports Journalist, Peoples Gazette, Olawale Agbede; Second-placed Contestant, Muslimah Malik; Group Manager & Group Head of Sport, Cool FM, Nigeria Info FM, and Wazobia FM, Femi Obong-Daniels; Winner, Success Omonijo; and Sportscaster, Nigeria Info FM, Okoroji Chidozie, at the ﬁnals of the Nigeria Info’s Femi & the Gang Football Fan Battle Competition....recently y

left in the process of growing the sport again," he said. Akinwunmi also said he will focus on a good marketing drive to support the 11 national football teams and club sides both for local and international competitions.

Bologna Lifeline Beckons as Ekong May Return to Italy Italian Serie A side, Bologna F.C. 1909, are keen on signing William Troost-Ekong from Watford, according to transfer expert Gianluca Di Marzio. The Rossoblù have been active this transfer window, welcoming defenders Jhon Lucumí from KRC Genk, Arthur Theate from KV Oostende, and Joaquín Sosa from Nacional this summer . However, they have still failed to keep a clean sheet in three Serie A games and have only garnered one point from the 1-1 draw at home to Verona. They lost 2-1 away to Lazio and 2-0 at AC Milan at the weekend. Ekong is being considered an option giving his experience in the Serie A with Udinese plus his lack of game time at Watford this campaign.

Wednesday, August 31, 2022

UT H

& RE A SO

Price: N250

MISSILE Flana To Akintola

“The irredentist statement credited to Chief Niyi Akintola SAN has once again confirmed the growing stratification in the legal profession. The description of the immediate past President of the NBA, Olu Akpata Esq as the “that boy” or “eleyi” smacks of empty arrogance of monumental proportion. It is a jejune statement that ought to be withdrawn by the learned Senior Advocate.”––Femi Falana criticising Niyi Akintola a Leader of the Yoruba Lawyers Association, Egbe Amofin members, for referring to the past NBA President, Akpata Olumide as “a boy” who is not a practicing lawyer but a transactional businessman and that Egbe Amofin members made a pact to not dignify him with their presence all through the two years that he led NBA.

KEHINDEBAMIGBETAN GUEST COLUMNIST

Re: Buhari’s Legacy and Tinubu’s Albatross

ith his consistently negative portrayal of the Buhari administration, Shaka Momodu has become the attack dog of the Peoples Democratic Party. His recent article, “Buhari’s Legacy and Tinubu’s Albatross” published in THISDAY last Friday is another in the series of his truculent opposition propaganda to canvass against the All Progress Congress and intimidate voters. His words: “how can anyone with a conscience associate with a party that deserves a root and branch removal from our psyche. This party needs to be denounced and not associated with. Its presidential candidate needs to be denounced and not supported for making a man with a roaring incompetence president of Nigeria”. This editorial harassment of millions of APC members and our supporters nationwide, in the hope that they would desert the party and make us lose the 2023 federal elections is just another Shakara from Shaka’s pen. The truth is that our party members believe the current administration has demonstrated modest capacity in confronting the challenges it inherited and discharged its duty in spite of the obvious sabotage of unpatriotic elements in the status quo and the threat posed by terrorism that is affecting Nigeria and her neighbours- Chad, Niger and Cameroon. Contrary to Shaka’s fraudulent romanticism, the Buhari administration did not meet a “land flowing with milk and honey”, it met insecurity, corruption and a nation crying for change. It was inspired by the massive votes of the Nigerian people to embark on the change it promised despite the gargantuan challenges of 16 years of sleaze and financial recklessness; despite the occupation of swathes of Borno and Yobe states by terrorism and despite finding the country in a debt trap set by the international financial oligarchy. The Buhari administration was elected to execute the APC Agenda of Change and Anti-Corruption. The introduction of the Single Treasury Account on August 7, 2015 tackled financial leakages in the civil service. Today, all Ministries, Departments and Agencies have transferred their balances to the Central Bank. The exercise consolidated 17,000 bank accounts formerly in banks and saved the administration N4 Billion monthly in banking charges. This was followed by project Lighthouse, a fintech engine which tracked N5 Trillion naira debts owed government and has retrieved N1.5 trillion as at today. Improving the financial integrity of the payroll system with the compulsory application of the Bank Verification Number led to the detection of more than 50,000 fraudulent payroll entries and saved more funds in the implementation of other government payments in other schemes. These initiatives emphasised the need to develop identity management database to fight corruption. As at January this year, there were 80.7 unique records in Nigeria’s digital identity database (NIN) making it easier to apply amended anti-corruption laws such as the Economic and Financial Crimes Commission Act and the Independent Corrupt Practices Commission Act to prosecute offenders and obtain non-conviction based forfeiture of stolen public assets. The administration encouraged the anti-corruption agencies to work autonomously and this led to investigations of no fewer than 31 governors and the prosecution of 11. Two governors - Joshua Dariye and Jolly Nyame - were convicted and jailed. Not even the fact that Governor Dariye was in the senate saved him from the full wrath of the law. Former governors even in the Federal Executive Council have been investigated. In carrying out its promise to rid Nigeria of corruption, there has been no sacred cow. Contrary to the vengeful narrative of do nothing that Shaka spews, there is concrete evidence of the administration’s achievements in all aspects of the life of Nigerian citizens. Begin with agriculture, the largest employer of labour. Change in Nigerian agriculture as promised by the APC meant that the nation should grow what it eats. Nigeria had become the dumping ground for many foreign food items, particularly rice, poultry and

Buhari oils. The Buhari administration closed the border to checkmate these indiscriminate imports and funded more than 4 million indigenous farmers with over N800 billion to produce 23 different agricultural items including rice and other food items to thrive. Today, Nigerian rice, wheat, maize, soyabeans, groundnut and poultry products, supported by the Central Bank of Nigeria’s Anchor Borrowers Programme, ABP, are back. To promote bountiful harvests, the Buhari administration funded fertilizer production and achieved 30 million 50kg of NPK while increasing the country’s blending plants from 4 to 62. THISDAY newspaper corroborated these assertions in a report by its staff, Obinna Chima seven months ago, under the headline, “Farmers Count Gains of Anchor Borrowers Scheme, to Unveil Mega Rice Pyramid”. This THISDAY report informed readers that ABP increased the yield of rice paddy and maize per hectare from 1.8metric tonnes in 2015 to 5 metric tonnes in 2022 and capacity utilisation of rice mills from 30 to 90 percent. The newspaper which Shaka claims to edit also reported that “there has been significant reduction in the country’s rice import bill from a monstrous $1.05 billion prior to November 2015 to the current figure of $18.15 million annually. The programme has also created an estimated 12.3 million direct and indirect jobs across the different value chains and food belts of the country.” How come an editor discountenanced what he has put out for his newspapers’ readers to buy and believe? Why is there no connection between the truths published by Thisday and the reasoning of its editor? Nigerians are very mobile. That is why this administration placed emphasis on the development of roads, rail, sea and air transportation. Within four years, the 156 kilometres Lagos-Ibadan standard gauge rail, with the capacity to carry 558 passengers per trip, was completed. Other rail routes completed are Abuja Light Rail, Abuja-Kaduna (186kilometres); Itakpe-Warri, (327 kilometres); Lagos to Apapa port, 8.72 kilometres. In 2021, the rail service in Nigeria conveyed over 2.7million passengers and 168,301tonnes of goods. It is also on record that 3,000 tonnes of cement are conveyed from the Apapa port, Lagos to Kano every month. These works created no fewer than 11,000 jobs. Lagosans are enjoying the Apapa- OshodiOworonshoki - Ojota. Those travelling on the LagosIbadan Expressway enjoy stress-free ride in shorter time. The Second Niger Bridge will be commissioned soon while the construction of Abuja-Kaduna- Kano Expressway is on course. To provide more roads, the Buhari administration introduced the highly innovative Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme that is attracting more and more companies to road projects. Similarly, cheaper Sukuk funds were

used to construct and complete 40 projects across the country. The Sukuk signboards are everywhere. Air and sea ports are receiving unprecedented attention. Lagos, Abuja, Kano and Port Harcourt now have new terminals. With the on-going construction of the first Flight Safety Laboratory at the Accident Investigation Bureau in Abuja, black boxes will soon be analysed in Nigeria. And there is good news for port users: the Lekki Deep Sea Port will soon be commissioned. Like all Nigerians, security continues to be a matter of grave concern to the Buhari administration. In terms of equipping the military to combat terrorism and kidnapping, the Nigerian Air Force has acquired 38 new aircraft including 10 Super MushShak, 5 Mi-M35 Helicopters, 12 129 Super Tucano,3 J7-17 Thunders. The Force will soon take delivery of 36 new fighter aircraft including 12 AH-1Z Attack helicopters and 24 M-326 Fighter Attack Helicopters. The Nigerian Navy has acquired more than 400 new platforms since 2015 including 172 Riverine patrol boats, 172 rigid hull inflatable boats, 2 Seaward Defence Boats, 12 Manta patrol Craft, 22 Fast Attack Boats, 14 Unmanned Aerial Vehicles among so many others. Shaka does a lot of damage to the morale and elan of our gallant forces confronting terrorism on behalf of the Nigerian people each time he accentuates the incursions of the terrorists but denigrates Nigerian soldiers who fight night and day to roll back those who are waging war against our fatherland. When he writes that the security forces are not combatting kidnapping, he demoralises our young men and women soldiers in the forests engaging terrorists and kidnappers conscious of the oath they swore to die for our country. Yet, the progress in the war against terrorism that Shaka refuses to acknowledge was easily recognised by the United Nations Secretary-General Antonio Guterres when he visited Borno State in May, this year. In its May 4, 2022 edition, Thisday, edited by Shaka, published Guterres’ assessment as reported by its staff, Michael Olugbode under the headline, “UN Scribe Guterres: The Borno I found today is One of Hope” as follows: “Now, the Borno State I have heard about in many circumstances around my life as High Commissioner for Refugees and then as Secretary General was Borno State of terrorism, of violence, of displacement and despair. This is not the Borno that I found today. The Borno I found today is a Borno of hope. It is a Borno with future and I was very impressed to see the policy that is being applied here, recognising that we don’t fight terrorism just by military means.” Again, one is forced to wonder if Shaka reads the newspaper he edits and why facts published by his newspaper play no role in the column he writes and the jaundiced opinions he holds. If an editor and columnist would not even acknowledge the heroic leadership provided by this administration in saving lives by deploying N49 billion to manage the dreaded COVID-19 pandemic in 52 federal health institutions, if he would not admit that many states would have caved in without the N614 billion Budget Support Facility, if the payment of over N700 billion reimbursement to states for the federal projects undertaken in their areas to shore up their finances does not matter to him and if he knows but refuses to tell his readers that the Buhari administration assisted states to renegotiate their debts to longer term conditions to ease repayment, how do the members of the public who rely on him for information fare? The fact that this administration intervened massively with the National Social Investment Programme to support N46 million poor Nigerians including 2 million beneficiaries of the Conditional Cash Transfer, 774,000 beneficiaries of the Special Public Works Programme and 12 million beneficiaries of the Survival Fund are key facts that should be in the fact book of any professionally-minded editor. It is disturbing that Shaka is not ready to believe these achievements but swallows, hook, line and

sinker, the pedestrian yarn of Kawu Baraje, a former secretary and later factional chairman of the Peoples Democratic Party, the party responsible for the genesis and accumulation of socio-economic crises of Nigeria’s political economy. Baraje’s account that he was responsible for bringing in Fulani from four West African countries to vote in the 2015 elections and their votes gave the APC victory is a tale that an editor worth his salt should have investigated for veracity. The questions: How many were involved? Where did they vote? Who gave them voter’s card? It is interesting that this confession to the crime of trafficking in persons, illegal procurement of voter cards, impersonation and rigging by a prominent politician does not bother the editor of a foremost newspaper. And considering the fact that Baraje was a national secretary of the PDP and factional chairman before he and the nPDP crossed to the APC, shouldn’t the editor’s conclusion be that Baraje must have used this method to win votes for the PDP in all the federal elections from 1999 to 2011? Shouldn’t Shaka be calling for the arrest of Baraje? Instead, he devoted lengthy space in his article to eulogise Baraje for “revealing” the cause of insecurity in Nigeria. More conspiratorial is the implied suggestion that insecurity started after the 2015 elections, a deliberate attempt to obliterate from our memory the spate of kidnapping all over the country between 2011 and 2015 and give the PDP, Shaka’s preferred party, a clean bill on security. The truth is that what the PDP couldn’t do with kidnappers has been done under this administration. Hamisu Bala, aka Wadume, the notorious kidnapper in Taraba State was arrested, investigated, prosecuted and convicted. He is serving his sentence. Chukwumadieme Onwamadike, aka Evans, was arrested, investigated, prosecuted and convicted. He is serving a life sentence as we write. The other kidnappers making Nigerians go through ordeals may be lucky for some time but they won’t be lucky forever. They have survived so far because of the government’s strategy of reducing the death of kidnapped victims during possible crossfire. The life of every Nigerian is dearest to the heart of the APC and we believe as more life-saving tactics of rescuing kidnapped victims develop, raids of kidnappers’ den will increase. The APC has also tightened the legal muscle on kidnapping by enacting the law which says anyone convicted of kidnapping will die in prison. The penalty of life sentence is just a step from death by hanging and was deliberately chosen in reverence of God, who is the only One that gives and saves lives. Contrary to Shaka’s flawed logic, the above legacies of President Buhari do not constitute an albatross. They will be transformed and scaled up to serve the people under the Tinubu presidency. The above preamble is to prepare for the real issue at stake, the presidential candidature of Asiwaju Bola Tinubu of the All Progressives Congress and the campaign of calumny, hatred, misinformation and disinformation orchestrated by Shaka Momodu ostensibly in the exercise of his freedom of speech but crudely in the service of the Peoples Democratic Party disgraced from power after 16 years of infamy. Interestingly, Momodu was a correspondent of THISDAY on the Lagos State Governor’s Press Corps with the privilege of a front row seat between 2003 and 2007 when Asiwaju governed Lagos State. Courage, vision, technological innovation and application stand Asiwaju Bola Tinubu far above any other contestant in this race. These are the core values of Tinubu’s politics and the drivers of his political trajectory from the senatorial elections of 1992, governorship elections of 1999 to the presidential convention of 2022. Because they have been comprehensively consistent over these years, it is logical to predict that a Tinubu Presidency will transform Nigeria to a globally competitive political economy that will address the basic needs of Nigerians, secure the country and spread posterity to all and sundry. Continued online

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