MONDAY 4TH SEPTEMBER 2023

CBN: FG Recorded $17.18bn Inflows, N1.43 Trillion Fiscal Deficit in Q1

James Emejo in Abuja

A total of $17.18 billion was attracted into the Nigerian economy in the first quarter of the year (Q1 2023),

representing an increase of 7.5 per cent compared to $14.62 billion in the preceding quarter. But the federal government’s fiscal operations resulted in a

deficit of N1.43 trillion in the review quarter. These information were contained in the Central Bank of Nigeria’s (CBN) Economic Report for Q1,

which provided insight into current developments in the real, fiscal, financial, and external sectors of the Nigerian economy, as well as on global issues of interest.

The report showed that foreign exchange inflow through the CBN increased to $7.17 billion, compared to $6.21 billion in the preceding quarter, while inflows through Continued on page 5

autonomous sources increased to $10.08 billion, from $8.41 billion in Q4.

Maikyau: Why Colleagues are against My Leadership...

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TRUTH & REASON

Tinubu, Ministers, Industrialists Depart for G-20 Summit Today

L-R: Kogi State Governor, Yahaya Bello; his Niger State counterpart, Mohammed Bago; Kogi State APC Deputy Governorship Candidate, Joel Salifu Oyibo; APC National Chairman, Abdullahi Ganduje; Kogi State APC Governorship Candidate, Usman Ododo; Ogun State Governor and Chairman, National Campaign Council for Kogi State Gubernatorial Election, Prince Dapo Abiodun; Lagos State Governor, Babajide Sanwo-Olu and his Kwara State counterpart, AbdulRahman AbdulRazaq, at the inauguration of the Kogi State National Gubernatorial Campaign Council, in Lokoja, on Saturday.

With massive and strategic investment drive in focus, President Bola Tinubu departs Abuja, today, in company with some ministers and industrialists, to

Buhari Saved Nigeria from Graft, Says Garba Shehu

Says his success in fight against corruption unprecedented

In a pushback to the position of a former Attorney General of the Federation and Minister of Justice, Mohammed Adoke, former President Muhammadu Buhari, has said his administration saved Nigeria from corrupt undertones planted to expose the nation’s economy to collapse.

In a statement by Buhari’s former spokesman, Garba Shehu, who replied to Adoke, over cases involving Process & Industrial Developments (P&ID), Paris Club, and the Ajaokuta steel company, he said Buhari’s success in the fight against corruption was unprecedented

According to him, Buhari’s administration inherited the contract and incidental judgement

Sanwo-Olu Flags Off Distribution of

How FG, States, FIRS, Others Will Share N3.8tn Stamp Duty Fund

FG to receive 14%; state governors - 73%; FIRS -4%; others - 9% one-off payment

Chuks Okocha in Abuja

Details of how N3.8 trillion stamp duty fund is to be shared between the federal government and the 36 states in Nigeria and others have been disclosed

The total amount to be shared among the federal government and agencies of government is a total of N3,860,867,322,987.42

Details obtained by THISDAY showed that the states will get a lion share of the stamp duty money. The states would get 73 per cent of the N3.8 trillion; the federal government would get 14 per cent of the fund; the Federal Inland Revenue Service

(FIRS) would get four per cent, while coordinating consultants would get a five per cent (one off) of the N3.8 trillion. The 14 per cent share of the federal government would be on a continuous basis any time there would be the sharing of the stamp duty fund.

The documents for the sharing of the stamp duty money made available to THISDAY read in part:

"The sum of N3,860,867,322,987.42 in the custody of Party B accruing from Stamp Duty collections shall be disbursed in the following manner amongst the named entities and persons: The federal government of Nigeria - 14% continuously; the

Nigeria Governors’ Forum - 73% continuously; FIRS - 4% continuously, the coordinating Consultants - 5% (one off)

"The federal government Legal Team - 2% (One off); School of Banking Honours and Others - 2% (One off).”

The Attorneys-General of the 36 states of the federation had in September 2021, had dragged the then Attorney-General of the Federation and Minister of Justice, Abubakar Malami before the Supreme Court over the failure of the federal government to remit the funds generated from stamp duties into state accounts.

It was however gathered that the governors and former President Muhammadu Buhari, reached an outof-court agreement where the former president had made a commitment to pay the governors the unremitted funds, which run into trillions of naira.

transactions within the respective states of the plaintiffs without reference to, concurrence of, input or agreement of the plaintiffs?.”

However, the matter was settled out of court and the former president had made a commitment to pay.

But following the precarious economic situation in the country, which forced the states to depend on palliatives from the federal government to cushion the effects of the removal of petrol subsidy on the people, the governors had resolved to ask President Bola Tinubu to pay the money.

the money.

"The governors have resolved that the issue will come up in their next meeting in view of the issue of subsidy palliatives,” one of the sources close to the governors told THISDAY.

The source said due to the present economic situation and the need for palliatives to cushion the effects of the removal of subsidy, the governors were threatening to go back to the apex court for a definitive pronouncement on the stamp duty money.

Also, Tinubu intends to use the opportunity to highlight Nigeria's attractiveness as an investment destination, specifically outlining his cross-sectoral reform plan as encapsulated by the Renewed Hope Agenda.

In the suit marked SC/

CV/690/2021, the 36 attorneys-general had dragged the federal government to the Supreme Court and had prayed the court to determine whether or not the states have the sole authority to administer and collect stamp duties on all transactions involving individuals/ persons within their respective states. They had also asked the court to determine, “whether having regard to the provisions of Section 4(2) of the Stamp Duties Act Cap. S8 of the Laws of the Federation of Nigeria read in conjunction with the provisions of Section 163, items 58 and 59 of the Second Schedule part I and items 7 (a) and (b) of the second Schedule part II and other provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the defendant (AGF) could claim, retain, distribute or in any other manner deal with the monies or sums collected as stamp duties on individual persons

According to the source, “A lot of money, trillions of naira is involved. Buhari’s administration had agreed that all the states would share it.

"It was almost paid before those governors left. It is just a delay because nobody can stop the payment. The authenticity of the money is not in doubt. States will eventually collect

Maikyau: Why Colleagues are against My Leadership

The governors, the source said, were particularly disturbed that proceeds from stamp duty had been withheld by the Central Bank of Nigeria (CBN) and the federal government, noting that, “this is the money every state can use especially now that the citizens are facing hard times instead of the token that the federal government is handing out to the states as palliatives. attend the G-20 Leaders' Summit in New Delhi, India, on the special invitation of Indian Prime Minister, Narendra Modi, the president has also continued to consult widely on the benefits and risk of joining the global economic power bloc.

According to a statement, yesterday, by the presidential spokesperson, Ajuri Ngelale, those accompanying the president on the trip included four members of his cabinet, namely, the Minister of Foreign Affairs, Amb. Yusuf Tuggar; his Finance counterpart, Wale Edun; Minister of Communications, Innovation, and Digital Economy; Dr. Bosun Tijani and that of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite

The statement stated further that, “While Nigeria’s membership of the G-20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership.

“This is consistent with the desire of the president to democratise foreign policy and articulate policy formulation and implementation through a Whole-of-Society and a Whole-of-Government approach that achieves the nation’s long-term strategic objectives.

“Once consultations are concluded, government will decide whether or not to apply to join as appropriate.

“The participation of President Tinubu at the G-20 Summit in India is, in part, in furtherance of this objective. The president is expected to return to Nigeria at the end of the Summit,” it added. The president aims to leverage the platform to attract global capital and promote increased foreign direct investments in key labour-intensive sectors of Nigeria's economy for job creation and revenue expansion.

On the other hand, FX outflow through the economy increased by 12.8 per cent, to $9.98 billion, compared to $8.85 billion in Q4.

Outflow through the central bank increased by 17.9 per cent, to $8.86 billion, compared to $7.51 billion in the preceding quarter, while autonomous outflow fell by 16.2 per cent, to $1.12 billion, from $1.34 billion in the preceding quarter.

As a result, net FX inflow through the economy increased by 24.7 per cent to $7.20 billion from $5.78 billion in the preceding quarter while net inflow through autonomous sources rose to $8.89 billion compared to $7.08 billion in the preceding quarter.

However, a net outflow of $1.69 billion was recorded through the apex bank, compared to $1.30 billion in Q4.

Nonetheless, the federal government’s provisional fiscal deficit was 9.6 per cent higher than N1.31 trillion recorded in the

On the sidelines of the summit, the president would participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.

The CEO Roundtable would be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.

“Given the president's renowned experience in attracting investment to Lagos State, leading industrialists have sought separate private engagements with him at the summit.

“The president's itinerary will also feature bilateral meetings with a cross-section of world leaders from four different continents, representing both G-20 and non–G20 countries.

“These engagements are geared towards strengthening bilateral economic, trade, and investment partnerships for mutual benefit,” the statement added.

At the G20 Summit, Tinubu is expected to share Nigeria's perspective on the theme, "One Earth-One Family-One Future," which speaks to the global unity required to address the challenges facing humanity and the planet.

With its collective contribution of up to 80 per cent of global GDP, 75 per cent of international trade, and housing 60 per cent of the world's population, the G-20 constitutes a significant economic power bloc of socio-economic opportunity and geo-political stability.

preceding quarter but 22.1 per cent below the target.

The CBN report stated that the federal government’s provisional aggregate expenditure for the period under review amounted to N2.77 trillion, with recurrent, capital expenditures, and transfers accounting for 84.6 per cent, 9.8 per cent, and 5.6 per cent, respectively.

The country’s current account recorded a surplus of $2.49 billion, buoyed by positive trade performance, particularly crude oil export, lower payments for services, and sustained surplus in the secondary income account.

The financial account showed a net reduction in financial liabilities of $0.52 billion, reflecting uncertainties surrounding the country’s general elections.

The international reserves at $35.14 billion was equivalent to 6.7 months of import for goods and services or 9.1 months for goods only, while

Defends Tinubu opening conference Laments infighting robbed gains of conference Says N50m spent on national exco could place 3,000 lawyers on NHIS

Alex Enumah and Wale Ajimotokan in Abuja

President of the Nigerian Bar Association (NBA), Mr. Yakubu Maikyau, yesterday, shed more light on the crisis within the association, saying the reason some of his colleagues were against him was because of his "commitment to protect and be frugal with the funds of the Nigerian Bar Association. No more, no less."

Some national officers of the NBA had been at loggerhead with Maikyau, over the manner he was alleged to have been piloting the affairs of the umbrella body for lawyers in the country.

Specifically, Maikyau was being accused of running a one-man-show, impunity, disregard for colleagues and corruption amongst others.

Unfortunately, the rift in the national executive degenerated and resulted in the opening of cans of worms, which was neither in the interest of the legal profession nor the nation, especially, when the theme of the conference was tagged: ‘Getting it Right: Charting the Course for Nigeria's Nation Building.’

Speaking on the Arise News Channel’s ‘THISDAYLIVE’ yesterday, the NBA president, who described the entire episode as "sad", lamented that irrespective of the issues of national interest to which solutions were proferred, "what Nigerians are concentrating

the international investment position recorded a net financial liability of $76.62 billion.

Public sector external debt stock and external debt service payment stood at $41.69 billion and $0.80 billion, respectively at the end of December 2022, according to the report.

The report further noted that improved crude oil export earnings, the lower deficit in the services account, and increased surplus in the secondary income account resulted in a higher current account surplus of $2.49 billion (2.2 per cent of GDP), from $2.35 billion (1.8 per cent of GDP) in Q4, due to favourable trade balance, lower demand for services, and increased surplus in the secondary income account. Furthermore, a breakdown of the external reserves showed that the share of CBN stood at $34.20 billion, federal government $0.94 billion, while the federation accounted for

about...are the fact that some people are fighting… we brought Portable."

Dismissing insinuations that the conduct of the lawyers ran contrary to claims that it was only the legal profession that could fix the country, Maikyau disclosed that the grievances of some members of the exco related to his, "commitment to protect and be frugal with the funds of the Nigerian Bar Association. No more, no less."

According to him, some national officers wanted to live on the Lawyers Practice Fees, but said he remained adamant, adding that the sum of N50 million was spent on the national officers between October last year and August this year.

Maikyau, who queried why the association should be having a bloated national executive, argued that the NBA could restructure itself so as to spend less on national officers and apply whatever it would save to members of the association, adding that, the "N50 million spent on national officers would give 3,000 of our colleagues on the NHIS."

He further disclosed that he had objected to the lodging of the executive who came for the conference at the Trancorp Hilton Hotel, Abuja, “because we will pay N78 million to N79 million. That is the estimate if we have to sponsor them. And all these are from the Bar Practicing Fees and I am saying no, we should not do that.”

He also faulted the AGM for rejecting the proposed constitutional

the balance of $0.007 billion.

In terms of currency composition, the US dollar amounted to $26.19 billion or 74.5 per cent of total external reserves while Special Drawing Rights accounted for $5.08billion or 14.4 per cent.

The Chinese Yuan accounted for $3.48 billion (9.9 per cent); British Pounds $0.20 billion (0.6 per cent); Euro $0.19 billion (0.6 per cent) while other currencies accounted for the balance.

The report also stated that higher dividend payments to non-resident investors widened the deficit in the government’s primary income account which widened by 18.7 per cent to $2.69 billion in Q1, due, primarily to the 34.9 per cent increase in investment income payments, which amounted to $3.09 billion, from $2.77 billion in Q4.

Under the review period, income on direct investment in the form

amendment, noting that those behind the rejection and those who rejected did not even know the content of the new constitution.

According to him, the amendment provided for an increase of remittance to members of the Bar Practicing Fees from 10 per cent to 20 per cent, beside the provisions of a stabilisation fund targeted at helping young lawyers amongst others.

This, nonetheless, Maikyau also said, he invited President Bola Tinubu to declare the conference open because by law, he was the President and Commander-in-Chief of the Armed Forces, adding that his presidency was a function of the Constitution and the Electoral Act, 2022.

"What I have done is simply to recognise the provisions of the law," he said, pointing out that those who declared Tinubu as winner of the presidential election were vested with such powers by the law.

He asked: "Does INEC chairman have the authority to make the declaration that he did? Yes. When he declared that Tinubu won the election there is a presumption that enured in favour of Tinubu at that time as the candidate of APC, that all that is needed to be satisfied for him to be declared president has been satisfied.

"Who else would I invite, should I not recognise the provisions of the law and the law has provided, are we without president because there is a pending petition? No.

"Asiwaju Bola Tinubu is the

of dividends rose by 12.1 per cent, to $2.71 billion, compared to $2.42 billion in Q4.

Similarly, interest payments on portfolio investments rose to $0.09 billion, from S$0.05 billion in the previous quarter. Interest earnings on reserve assets increased by 35.7 per cent, to $0.20 billion, from $0.15 billion in the preceding quarter.

On the other hand, interest payments on loans declined by 0.7 per cent, to $0.30 billion in Q1.

The report also stated that non-residents’ redemption of matured investments and the withdrawal of foreign currency and deposits resulted in a net reduction in financial liabilities.

The financial account recorded a net reduction in financial liabilities of $0.52billion (0.5 percent of GDP), compared with $0.85billion (0.7 percent of GDP) in Q4, reflecting tight global financial conditions and uncertainties surrounding the

president of this country and I invited him because I defer to the law, not to the whims and caprices of any lawyers. If these lawyers say that there is no such presumption under the law, let me know," the Senior Advocate of Nigeria said. He, however, pointed out that his position was not without prejudice to what the court was going to determine in the petitions.

The crisis rocking the leadership of the NBA deepened further last Thursday, at the body's Annual General Meeting (AGM) in Abuja, when those who were supposed to be working closely with Maikyau, accused him of running a one-man show.

Shortly after the commencement of the 2023 Annual General Conference, it emerged that all was not well with the NBA leadership, following report that members were demanding explanation on how Maikyau allegedly spent a whopping N700 million on conference bags used at the Annual General Conference.

According to report, the NBA's Annual General Conference Planning Committee (AGCCPC) had entered into an agreement to procure over 18,000 conference bags at a cost of about N334,800,000 (nearly $372,000) but the sum of N700 million was said to have been spent. Before that settled down, another report had it that Maikyau in turn had accused his predecessor, Mr.

Continued on page 36

macro-economy as a result of the country’s general elections.

Non-residents’ claims on the economy reduced significantly, as investors redeemed matured investments as capital reversal of $0.78 billion was recorded in Q1, compared to an inflow of $1.94 billion in Q4.

CBN explained that the development was due to reversals of portfolio investments and withdrawal of foreign currency and deposits from domestic money banks. Similarly, the uncertainties surrounding the 2023 general election and the quest for a safer haven by investors contributed to the divestment.

Accordingly, a portfolio investment reversal of $1.17 billion was recorded, in contrast to an inflow of $0.34 billion in Q4, occasioned by the redemption of investments in shortterm debt securities by non-resident investors.

FLAG OFF OF THE LAGOS STATE GOVERNMENT FOOD BANK PROGRAMME...

NEMSA Explains Electricity Meters’ Upgrade, Says No Need for Apprehension

Emmanuel Addeh in Abuja

The Nigerian Electricity Management Services Agency (NEMSA), the federal government’s agency responsible for setting technical standards in the power sector, yesterday urged Nigerians not to be apprehensive over the recent meters’ upgrade announcement.

Managing Director and Chief Executive of NEMSA, Mr Aliyu Tahir, in a statement signed by the Head Communication & Protocol Unit, Mrs Ama Umoren, noted that the process will not impact the ability of electricity meters that have been certified by the agency, to accurately

measure and record electrical energy consumed.

The Chief Electrical Inspector of the Federation assured the public of the readiness of NEMSA to ensure that all electricity meters and instruments deployed in the industry are of the right standard, specification, safety and quality to accurately measure energy consumed and guarantee safety of lives and property.

Tahir was reacting to public enquiries, especially from electricity consumers over the ongoing discussion on the issue of Standard Transfer Specification (STS) on prepaid meters upgrading by means of

Wike: Revised Public Service Rule Impacting Medical Sector in FCT

Olawale Ajimotokan in Abuja

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has decried the effect of the Revised Public Service Rule on the medical sectors in the FCT.

He voiced the concern over the weekend, during a meeting with medical unions in his office.

The key feature of the revised rule was eight-year tenure policy for directors of federal ministries, departments and agencies (MDAs).

Wike, who was represented at the meeting by the Minister of State for the FCT, Dr. Mariya Mahmoud, said the recent circular described the eight-year tenure retirement as an issue of concern while adding the administration would study the matter carefully.

“We have a guideline that exempted the medical doctors from the circular so we need to have a backup document to speak on the matter.

“I will have to meet with the heads of departments, stakeholders and other sectors concerning recalling the letter, and I assure you that we will do our best and come out with something good,” he said.

The minister promised to treat medical doctors under the Federal Capital Territory Administration

(FCTA) with human face to strengthen medical services in all the hospitals.

In his remarks, the Chairman of Nigeria Medical Association (NMA) Federal Capital Territory (FCT) chapter Dr. Ugwuanyi Charles, pleaded with the minister to look into the letter.

“The removal of some of the hospital consultants will affect the ones available and cause a great burn out in our hospital," he said.

Also, the Chairman Medical and Dental Council Association of Nigeria (MD-CAN) FCTA chapter, Dr. Musa Emmanuel, stated that the rule was not followed accordingly saying the retirement was done by people who do not know the rules or choose to ignore them.

“The FCTA, Medical Health Care services are accessible and affordable to everyone, but the retirement will affect the sector greatly, the letter is worrisome, he added.

The president of Association of Resident Doctors (ARD) FCTA, Dr. Rahmon Olayinka Sodiq, said people from Nasarawa, Kogi and other states come to the FCT to access medical care because they believe in the FCT medical care, “but who are those consultants that will be present? We hope that the letter will be reverted.”

a Token Identifier (TID) rollover set to commence soon by the Distribution Companies (Discos) in Nigeria.

The Nigerian Electricity Regulatory Commission (NERC) had recently called on electricity customers across the country to update their prepaid metering devices or face challenges with recharging from November 2024.

But while noting their concerns, the NEMSA chief executive advised electricity consumers not to fear, stressing that the token identifier is a 24-bit field, contained in STS compliant tokens.

According to him, this identifies the date and time of the token generation which he said is used to determine if a token has already been used in a prepaid meter.

“The TID represents the number of minutes elapsed since the base date of 1st January

1993. The incrementing of the 24-bit field means that at some point in time, the TID value will roll over to a zero value,” he stated.

He noted that in order to overcome the TID rollover occurrence, all meters will require key change tokens with the rollover bit set which will be provided by the utility companies when the key change tokens are imputed, adding that the process will then force the meters to reset the TID stack memory to 0 and change the meter key at the same time.

“ This process will not make energy meters fast or slower, hence, there is no need for panic and that the TID rollover will NOT alter or change the metrological properties of electricity meters that have been certified by NEMSA, to accurately measure and record electrical energy consumed.

“Meter manufacturers will be required to change their production processes in order to cater for the new manufacturing hardware secure modules and key load files.

“They are also required to start manufacturing meters on the 2014 base date as will be specified by their customers when they have updated their vending systems.

“Also, the Discos will provide their prepaid meter customers Key Change Tokens (KCT) alongside their regular energy tokens when purchasing electricity,” he said.

Tahir further stated that the prepaid meter end-users will be involved in the final piece of the puzzle – the TID rollover key change process. This process, he said, involves a special pair of tokens called a key change token that would be entered into the prepaid meter

to finalise the update of the prepaid meter software.

“Customers must upgrade their prepaid meters by sequentially entering the two KCT tokens (KCT1 & KCT2) and then the energy token, as to be provided by the Disco. Customers must ensure that any unused or previously purchased energy tokens are loaded into their meters before the expiry date,” he explained.

Tahir assured all electricity customers that they have nothing to fear as the meter upgrade process will not affect the credit unit balance on their meters.

“The credit balance will remain intact after the upgrade. They are also to note that meter upgrade is a one-time process. Subsequent energy token purchases will continue as usual after the upgrade has been completed,” he added.

Matawalle Hails Acquisition of New Platforms to Enhance Navy's Dominance of Maritime Domain

Kingsley Nwezeh in Abuja

The Minister of State for Defence, Bello Matawalle, weekend, lauded government's acquisition of new platforms for the Nigerian Navy to enhance its fighting power against criminalities and illegalities within the Nigerian territorial waters and the Gulf of Guinea.

The minister spoke at the passing out parade of batch 34 Trainees of Nigerian Navy Basic Training School in Onne, Port Harcourt.

"The newly acquired platforms would serve as enablers to increase the Nigerian Navy's dominance and influence in the fight against crude oil theft, illegal refining, pipeline vandalism,

piracy and illegal unreported, unregulated fishing activities," he said.

He affirmed that the new platforms would further expand the reach and coverage of the Nigerian Navy patrol capabilities within the back waters and the inland waterways, notably, Forward Operating Base Lekki,

FOB Ekpe, naval base Oguta, NOP Takes Bay and NOP Shangunu.

While speaking to the 1,865 trainees of the batch 34, the minister charged them to hold strongly to the core values of the Nigerian Navy rooted on integrity, professionalism and teamwork, pointing out that the remain key to victory in any assigned task.

BUHARI SAVED NIGERIA FROM GRAFT, SAYS GARBA SHEHU

in the P&ID, adding that, the cases identified by Adoke originated from an administration that the former Attorney General was part of.

“The logical conclusion any reasonable person can draw on P&ID, Paris Club, and Ajaokuta is that President Buhari came on a rescue mission and effectively saved Nigeria from corrupt undertones that were planted to expose its economy to imminent collapse. The success of the Buhari administration in the fight against corruption is unprecedented,” he said.

Adoke, has recently posited that the administration of Buhari, was the “most incompetent” Nigeria

ever had, saying it was run by “a set of political morons.”

The former justice minister stated this in an interview with Adesua Giwa-Osagie, while commenting on the corruption allegations pressed against him and former Senate President, Abubakar Bukola Saraki, by the immediate past government.

He said despite Saraki’s opposition to his appointment as Minister of Justice under former President Goodluck Jonathan, he and the ex-Kwara State governor had since become friends, describing Saraki as one of the “emerging leaders” of the country.

Adoke said, “Bukola Saraki was the Chairman of the Governors’ Forum at that time. He didn’t want me as Minister of Justice, possibly, because he was uncomfortable with me. He didn’t know me. And he felt that I might not serve his political interests.

“And there’s nothing wrong with that. Today, it will amaze you to know that Bukola and myself are very good friends. I respect him. He is one of the emerging leaders of this country.

“He has served as Senate President of this country. He has served as governor. And he stands out well, irrespective of his

political persecution. He remains one of the few politicians in this country that have demonstrated in office, capacity, competency in terms of leadership.”

However, when the host asked:

“So, you believe that the corruption allegations against him is political persecution?”, Adoke responded: “I have been a victim of corruption allegations by the immediate past government.

“The most incompetent government we’ve ever seen in this country; ran by the most incompetent president that this country has ever had and will never have again. And ran by a set of political morons.”

Governor of Lagos State, Mr Babajide Sanwo-Olu (sixth right), Secretary to the State Government, Barr Abimbola Salu-Hundeyin (fifth right); member of the State House of Assembly, Hon Kehinde Joseph (third right); Permanent Secretary, Ministry of Agriculture, Mrs Adetokunbo Emokpae and others, during the official flag off of the Lagos State Government Food Bank Programme, as part of the palliative measures to mitigate the

of fuel subsidy removal, at the Lagos House, Alausa, Ikeja.... yesterday

Sanwo-Olu Flags Off Distribution of Food Items in Lagos

500,000 households to benefit from food palliatives

The Governor of Lagos State, Mr. Babajide Sanwo-Olu, yesterday, flagged off the distribution of food items for vulnerable households through the Lagos Food Bank Programme, as part of efforts to cushion the effects of the removal of fuel subsidy by the federal government on Lagos residents.

The flag off of the food bank programme was part of the

social and economic intervention programmes by the Lagos State Government to ameliorate the pains some Lagosians were experiencing due to the increase in transportation costs and food prices across the State as direct effect of the policy on the removal of fuel subsidy by the federal government. The Food Bank initiative is an addition to different measures rolled out and currently being implemented by the Babajide Sanwo-Olu's administration. The

NIMC Planning Comprehensive National Identity System to Streamline Govt Services, Says DG

Sunday Aborisade in Abuja

The Acting Director General and Chief Executive Officer of the National Identity Management Commission (NIMC), Abisoye Coker-Odusote, has assured Nigerians of a seamless registration process for the National Identification Number (NIN) across the nation and in the Diaspora.

She gave the assurance in a statement made available to THISDAY in Abuja, yesterday.

The new NIMC boss also gave an assurance of a comprehensive national identity system that would streamline government services and enhance service delivery.

She said the NIN registration remains free for all eligible citizens while reaffirming the commission's commitment to ensuring accessibility for all Nigerians in line with global best standards.

Coker-Odusote said, "A unified identity system ensures that citizens receive the services they are entitled to in a more efficient manner.

"Under my watch, NIMC will strengthen the operation and regulation of all matters related to national identity which encompasses services such as NIN enrolment and issuance, national e-ID card issuance, identity verification as well as data harmonisation and authentication.

"It should be noted that in the digital age, integrated

identity is the backbone of e-governance initiatives as it provides an enabling environment for key government programmes of social safety net, financial inclusion, as well as for companies that want to provide innovative products and services to people.

"An integrated identity system will strengthen the government’s fiscal management, promote good governance and transparency through inclusivity and social equality, as it ensures that marginalised and vulnerable populations are not excluded from government services.”

The Acting NIMC DG acknowledged the challenges millions of Nigerians faced during NIN enrolment and pledged that all issues including long processing time and administrative errors, would be fully addressed and resolved. She also called for understanding and support of all stakeholders within Nigeria's digital identity space and reiterated that the Commission was committed to speeding up issuance of NINs and provision of other ancillary services to the citizenry.

Coker-Odusote added that NIMC was devoted to supporting the policy direction of the Bola Tinubu’s administration by strengthening the issuance of NIN in line with the President's pledge to lift more Nigerians out of poverty, improve food security, drive economic growth and enhance security.

measures include 50 per cent reduction in transportation costs in the government-owned bus system and free health services for pregnant women in government hospitals.

Speaking during the flagoff of the Lagos Food Bank Programme at Lagos House, Ikeja, yesterday, a statement quoted Sanwo-Olu to have said the programme would directly impact 500,000 benefitting households. He noted that over 2,500 micro, small and medium scale enterprises were involved in bag manufacturing, food aggregation, packaging, and logistics, while over 25,000 employees of the MSMEs will be indirectly impacted.

Sanwo-Olu, assured Lagosians that adequate measures had been put in place to ensure that all items received get to the intended beneficiaries.

"The strategic goal of this programme is to reach 500,000

vulnerable households in the State with staple food items using two methodologies –bulk food items (50kg Rice, 50kg Garri and 100kg Beans) for groups, and food boxes (10kg Rice, 5kg Garri, and 5kg Beans) for individual vulnerable households.

"The distribution of the food items to vulnerable households will be done through groups, institutions, non-governmental organisations, community development committees, people living with disability and social protection department in the Ministry of Economic Planning and Budget using the social register of the vulnerable in the state.

"To ensure transparency in the implementation of this intervention, a monitoring committee with members drawn from religious groups, trade unions, people with disability, civil society/non-governmental organisations, youth groups,

community development councils and representatives of the Lagos State House of Assembly will be constituted. "Further to this, distribution will be phased among the various beneficiary groups for ease of the distribution process. In line with this plan, each group will be duly informed of the date for collection.

"I would like to use this opportunity to solicit the support of well-meaning and public-spirited individuals and organisations for this programme so that more of our people in need of this intervention can be reached. Be rest assured that adequate measures have been put in place to ensure that all items received get to the intended beneficiaries," he said.

Sanwo-Olu, who acknowledged the economic challenges being experienced by Lagosians at this time, promised that his administration

would do everything within its capacity to implement measures that would cushion the pain by continuing to initiate programmes and projects that would uplift the people and provide quality living conditions to all.

He said: "Let me assure all Lagosians that we acknowledge the economic challenges being experienced at this time. The policies being implemented right now by the federal government are difficult but necessary measures that must be taken to reposition our economy on the path of sustainable development and prosperity for all citizens.

"I am therefore appealing for the continued understanding of all Lagosians with the assurance that we will do everything within our capacity to implement measures that will cushion this temporary pain as we continue to initiate programmes and projects that will uplift our people and provide quality living conditions to all."

Monitor Revenue Generating Agencies' Remittances to Avert Leakages, Akpabio Tells Finance Committee

Sunday Aborisade in Abuja

President of the Senate, Godswill Akpabio, has directed the Committee on Finance to embark on aggressive oversight of revenue generating agencies with a view to curbing revenue leakages in the country.

Akpabio, specifically directed the panel to scrutinise the remittances of the agencies and government- owned enterprises and make sure that all revenues they generate are properly deposited into the federation account.

Chairman, Senate Committee on Finance, Senator Sani Musa, disclosed this in a statement obtained by THISDAY in Abuja, yesterday.

The Senator, who is representing Niger East Senatorial District in the National Assembly, said his panel was asked to ensure that all remittances were done in accordance with the provisions of the Fiscal Responsibility Act.

He said, "The President of the Senate, Senator Godswill Akpabio, has given the Finance Committee a marching order to as a matter of national concern and interest embark on serious legislative oversight of all revenue generating agencies.

"This is with a view to making sure that all revenue income are deposited in the federation account.

"The Senate President asked us to identify defaulting agencies and prescribe sanctions where necessary in line with extant legislation and also in accordance with the Fiscal Responsibility act."

Sani, who pledged that his committee would carry out the directive of the Senate President with diligence and all sense of responsibility, noted that the country cannot afford to lose any revenue at the moment. He said, "The recent removal of fuel subsidies, which decision was the best, has added to the burden felt by

many citizens. This underscored the urgency for a comprehensive measure that would not only stabilise the economy, but will also ensure equitable access to basic necessities and opportunities for all segments of society.

"The country is faced with dual challenges of rising debt and insufficient revenue which demand our immediate attention.

"The Senate Finance Committee under my leadership commitment will be to embark on a mission to amplify our revenue streams.

"We will assist in driving economic growth that is not only robust but also resilient through legislative means.

"We will provide legislative platform to manage our debt judiciously and explore avenues for favourable terms and sustainable repayment simultaneously."

The Senator congratulated the Minister of Finance and

Coordinating Minister of the Economy, Mr. Olawale Edun, on his appointment. He said his position carries with it a profound responsibility for shaping Nigeria's economic trajectory.

He said, "In my capacity as the Chairman, Senate Committee on Finance I am very much aware and in the know of the economic and developmental challenges our country is going through.

"This includes the escalating debt burden, low revenue profile and fiscal irresponsibility by some MDAs.

"In this pursuit, I pledge to lead the committee with diligence, innovation, and a steadfast focus on securing our nation's economic prosperity.

"It is a known fact that the Nigerian economy stands at a critical juncture, navigating through a complex web of economic challenges that necessitate strategic and informed policy responses.”

Segun James

PROJECT KICK-OFF AND AGREEMENT SIGNING CEREMONY FOR CONSTRUCTION 'LPG' COASTAL CARRIER BARGE...

L-R; Representative of Chief of Naval Staff/GMD, Navy Holdings Limited, Rear Admiral Hamza Kaoje; Chief Executive Officer, Dateline Energy Services, Mr. Wilson Opuwei; Project Partner, Mr. Darren DIGNAM and Admiral Superintendent, Naval Dockyard Limited, Rear Admiral Abolaji Orederu during the official project kick-off and agreement signing ceremony for the construction of Liquified Petroleum Gas 'LPG' Gas Coastal Transportation Carrier Barge in Lagos...yesterday ABIODUN AJALA

WEDDING FATIHAH...

Investigation: Dangote Cement Not on Sale in Benin Republic

50kg cement

Dike Onwuamaeze

The allegation that went viral on the social media last week that Dangote Cement Plc was selling a bag of 50kg cement to Nigerians at an exploitative rate of N5,200 while it sells the same quantity of cement at N1,500 in the Republic of Benin was not true.

THISDAY’s investigation in Cotonou at the weekend, revealed that Dangote Cement was not on sale in Cotonou or anywhere in Republic of Benin.

While Dangote does not officially export cement to Benin Republic, it only uses the country as its transit route to export cement to Togo.

It was discovered that the average price of 50kg (32.5r) bag of cement in Benin Republic was N6,216, which was about 4,200 Cefa).

According to THISDAY’s investigation in cement depots in

sells at average price of N6,216 in Benin despite govt's regulation

Akpakpa, Ghandi and Etoile Rouse (Red Star) sections in Cotonou, the price of 50kg bag of cement goes for 4,000 Cefa, 4,100 Cefa and 4,200 Cefa at different cement depots in Cotonou.

In addition, THISDAY was told that the same quantity of cement goes for 4,500 Cefa (about N6,660) in Parakou, which was the largest city in northern Benin because of transport and logistics costs.

This implied that the average prices of 50kg bag of cement in Cotonuo and Parakou were N6,068, and N6,660 respectively, at the parallel market exchange rate of 1.00 Cefa to N1.48.

The two strongest determinants of the price of cement in the Republic of Benin, according to THISDAY’s findings, were the fixing of cement’s price by the country’s government to ensure stability and the imposition of about 51 per cent duty and

UK Introduces ETA for Travellers Previously Not Needing Visa

Michael Olugbode in Abuja

An Electronic Travel Authorisation (ETA) would soon be a requirement for people, who did not need a visa to come to the United Kingdom (UK).

According to information on GOV. Uk, this would give permission to travel to the UK, and would be electronically linked to passport.

The information read: “You’ll need an ETA to: come to the UK for up to sixmonths for tourism, visiting family and friends, business or study, come to the UK for up to 3 months on the Creative Worker visa concession; transit through the UK, including if you’re not going through UK border control.

According to the website, those who would need an ETA, for example, “if you’re from Qatar; You’ll need an ETA if you’re travelling to the UK on or after 15 November 2023. You’ll be able to apply from 25 October.

“If you’re from Bahrain, Jordan, Kuwait, Oman, Saudi Arabia or the United Arab Emirates; you’ll need an ETA if you’re travelling to the UK on or after 22 February 2024. You’ll be able to apply from 1 February 2024. If you’re from another country, you do not need to apply for an

ETA now. More nationalities will be added to the scheme later.”

It added that, “You will not need an ETA if you have either; a British or Irish passport, and have permission to live, work or study in the UK or a visa to enter the UK.

“If you live in Ireland and you’re not an Irish citizen: You will not need an ETA if all of the following apply, you’re legally resident in Ireland, you do not need a visa to enter the UK, you’re entering the UK from Ireland, Guernsey, Jersey or the Isle of Man.

“You can prove you live in Ireland by showing any of these: Irish driving licence, Irish learner permit, medical card, GP visit card, European Health Insurance Card, Irish Residence Permit, Permanent Residence Certificate, Temporary Residence Certificate, National Age Card

“The document must be an original, issued by the Irish government, valid at the time you travel but if you’re under 16, you will not be asked to show a document.

“Someone needs to apply on the UK ETA app, or online on GOV.UK. You can apply on behalf of others; each traveller must get their own ETA, including children and babies.”

other taxes on imported cement to discourage importation of the commodity and encourage local production of cement.

Among the leading cements brands in Cotonou are Cimbenin Buffle, Ciment Bouclier, Nouvelle Cimenterie du Benin and the Ciment Diamant, which a manufactured in the country. These are mainly 32.5R grade in contrast to Dangote Cement’s 42.5R cement grade that is on sale in Nigeria.

An online publication had published a story on August 27, 2023, in which it had stated that, “Nigerians have taken to social media to call out billionaire Aliko Dangote for selling his bag of cement for N5,200 in his own country but selling at N1,500 in Benin Republic.”

The online publication had reported that “a Twitter user identified as @drpenking called out Dangote for selling his bag of cement for N5,200 in Nigeria despite the fact that the raw material is sourced locally in Nigeria.

“He (@drpenking) tweeted: ‘Dangote cement is produced in Nigeria. The raw material is sourced

locally in Nigeria at almost zero cost. Nothing is imported. Almost zero taxes yet the price of cement is N5,200 in Nigeria and same is sold in Seme, Benin Republic at N1,500 . Sit & Explain to me (sic).’”

However, a Cotonou-based Chief Executive Officer of Marketing Challenge Agency (MCA), Mr. Dia Ibrahim Kola, told THISDAY in Cotonou last Friday that the government of the Republic of Benin was striving to maintain stable price of cement in the country through price regulation regime instead of subsidising its supply.

Kola said: “There is only one price for cement in the country. This is 78,000 Cefa per tonne of cement. But the retail prices of 50kg bag of cement vary from 4,000 Cefa, 4,100 Cefa and 4,200 Cefa. But the price is higher in Parakou in the northern part of the country” where it oscillates between 88,000 Cefa and 90,000 Cefa per tonne.”

He said the country’s policy was to discourage importation of cement and encourage its local production with high import duty and taxes for cements that does not qualify under

the ECOWAS Trade Liberalisation Schem (ETLS).

“We have about four cement manufacturers, including Lafarge and others. The government has a fixed price and often sent taskforce to monitor compliance especially in Cotonou.

“But it is important to emphasise that government does not subsidise the price of cement in Benin. There was a period of high scarcity that the price went up to CFA 100,000 per tonne, which forced the government to intervene to stabilise the market,” he said.

Kola recalled that the only time he had seen Dangote Cement being sold in the country was four years ago by a Nigerian woman around Igolo, that is close to the Nigerian border, adding that she might have smuggled it in.

However, the management of Dangote Cement Plc has clarified that the price of a bag of cement from its factories across Nigeria as at August 28, 2023, was N4,010 (about 2,730 Cefa) in Okpella and N4,640 (about 3,135 Cefa) in Ibese, Objana, and Gboko.

It added that transportation costs and the location of delivery, might cause the prices to hover between N5,000 and N5,300 per bag 50kg. This clarification was made in view of recent misinformation that the company sells cement in Nigeria at significantly higher prices relative to other countries, particularly the Republic of Benin, and other neighbouring countries.

Dangote Cement’s Group Managing Director, Mr. Arvind Pathak, advised that it was important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market.

Pathak said Dangote Cement was focused on delivering quality cement at the best price possible, despite the current inflationary environment.

“We continue to innovate new ways to deliver quality products to millions of our customers across Africa, while providing top-notch customer services. At Dangote Cement, we are committed to building an inclusive and sustainable business for all stakeholders across the value chain,” he said.

Kyari Parleys New TotalEnergies' Country Chair, Bouyer

With experience from gas-rich Qatar, Bouyer sets sights on discovering Nigeria's

Peter Uzoho

The Nigerian National Petroleum Company Limited (NNPC) and TotalEnergies last week took their long- standing discussion on collaboration for the growth and development of the Nigerian oil and gas industry a step further when the NNPC Group Chief Executive Officer, Mele Kyari hosted the new Managing Director of TotalEnergies EP Nigeria Limited and Country Chair, Mr. Matthieu Bouyer.

This was sequel to the appointment of Bouyer as the Managing Director of TotalEnergies EP Nigeria by the company's board of directors in Paris, France, in a routine shakeup that saw the immediate-past Country Chair, Mr. Mike Sangster, promoted to lead the company's Africa Business Division.

During their maiden meeting, which took place at the NNPC towers in Abuja, Kyari and Bouyer used the opportunity to discuss future collaborations between the national

oil company and the French energy major.

NNPC had in a terse statement on X (formerly Twitter) stated that its GCEO, "had the pleasure of receiving the Managing Director and Country Chair of @TotalEnergiesNG E&P Nigeria, Matthieu Bouyer, in his office," adding that, "the meeting served as an opportunity to welcome him to Nigeria and discuss future collaborations."

Although the details of their discussion was yet to be made public, THISDAY gathered that collaboration between NNPC and its partner operators was highly needed considering the urgent need to claw back the lost investments in the Nigeria oil and gas industry which has largely contributed to the low exploration and production activities and resultant continued drop in oil production amidst dwindling oil revenue.

Bouyer, is expected to oversee TotalEnergies upstream arm at a time

divestment of assets had become dominant amongst the international oil companies (IOCs), which want to exist the perceived high risk onshore assets in Nigeria in preference for the low risk offshore assets.

The discussion between Kyari and Bouyer may have also featured the ongoing Preowei project, which the NNPC had estimated to worth $2 billion in Foreign Direct Investment (FDI), and which was inching towards Final Investment Decision (FID).

Another issue that may have come up during the discussion between Kyari and the new TotalEnergies' Country Chair was likely to have been the recent oil discovery achieved by the French oil major in Ntokon, Offshore Oil Mining Lease (OML) 102 Nigeria and how to take the field to the next level of development.

Happening just few months after the start-up of production of the Ikike tie-back on OML 99 in 2022, TotalEnergies, had said the Ntokon discovery opened a

promising outlook for a new tie-back development.

Meanwhile, with his experience drawn from gas-rich Qatar where he served in the last three years as the Managing Director and Country Chair of TotalEnergies EP Qatar, Bouyer, who has assumed his new role in Nigeria, said he was looking forward to discovering the large energy landscape of Nigeria and its potential.

In a post on X (formerly Twitter) following his new appointment, Bouyer stated, "After three years in Qatar, I am starting a new position in Nigeria as MD and Country Chair at TotalEnergies.

"My time in Qatar has been multienergy, in line with the transformation of the company. I met incredible people in a country that has been at the heart of gas planet over the last years.

"I now look forward to discovering the very large energy landscape of Nigeria that is full of potential in all energies."

L-R: The Minister of Defence, Badaru Abubakar and the Minister of State for Defence, Bello Matawalle, at the wedding fatihah of Alhaji Badaru Abubakar's son Ahmad Abubakar, in Kano State at the weekend.

DELE ALAKE PRESENTS ROADMAP…

L-R: Director, Human Resource, Ministry of Solid Minerals, Mohammed Kabir; Minister of Solid Minerals, Mr. Dele Alake and Director, Environmental Compliance, Ministry of Solid Minerals, Dr.

conference on the policy of the President Tinubu's Administration

Umahi: Contractors Insisting on Using Asphalt Will Bear Burden of Road Failures

Emmanuel Addeh in Abuja

The Minister of Works, Senator David Umahi, has stated that contractors to the ministry who insist on the use of asphalt in road construction, despite the new direction to use concrete, will face the consequences if the facilities fail in a short time.

Umahi spoke while meeting with 46 contractors handling road projects in the South-east region as well as four contractors from the North-east over the weekend at the ministry’s headquarters in Mabushi, Abuja.

A statement by the Director of Information, Press and Public Relations Unit, Blessing Lere-Adams, said Umahi maintained that under his watch, road construction, starting

from design and actual construction must henceforth meet the needed requirements.

“We will get it right, the time to do a good job is here, if you were doing a bad job before, this period is not for you. Every 24 hours that I work must be characterised with good and acceptable construction that will last,” he stated.

While reiterating his belief in the use of concrete technology in road pavement because of its durability and affordability, Umahi explained that such roads do not also need much maintenance.

He asked the contractors to decide on the use of asphalt or concrete, but said that if any of them decides to continue the use of asphalt, then they will sign an undertaking that if the road fails,

Technology Vital for Robust Ocean Economy, Dakuku Tells Beijing Int’l Maritime Confab

Blessing Ibunge in Port Harcourt

As the world seeks strategies for safer and more sustainable exploitation of maritime resources for transportation and other commercial purposes, the immediate past Director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said development of robust technology infrastructure and leveraging smart applications are key to enhancement of safety and growth in the sector.

A release on Sunday by his media office said Dakuku spoke in China at a one-day international conference on the future of maritime industry in developing countries, held at Normal University, Beijing.

Speaking as an international maritime industry resource person, Dakuku said the maritime industry was a critical component of global trade and, therefore, safety was of paramount importance to all stakeholders.

“Embracing smart applications has emerged as a powerful strategy to bolster safety measures and efficiency in the industry," he said.

The former Chairman of Association of African Maritime

Administration (AAMA) said, “Whether for real time monitoring and data collection, predictive analytics, automation of navigation systems, collision avoidance systems, or emergency response and communication, smart applications represent a transformative approach to enhance safety standards in the industry.”

He added, “More than any other region, the global south must step up its game in this regard to optimise benefit from the blue economy.”

The former NIMASA directorgeneral advised developing countries to invest in the development of strong technological infrastructure and manpower in the maritime industry, saying it is critical for the growth of the sector.

“It is unfortunate that most developing countries are just contented using services in the sector without investing in tailor made technology solutions that address their peculiar challenges,” he stated, adding, “Developing countries can leap frog growth in blue economy and maritime ecosystem by upscaling application of technology in the sector.”

they will bear the burden.

“I will challenge you contractors that the use of concrete technology on our road pavement is the best. The nation is endowed with natural resources, so we should be prepared for the renewed hope of the present government that is anchored on change.

“ My instruction is for us to start using concrete technology, but if you insist on using asphalt, you will sign an undertaking for me that if the road fails you will bear the burden alone, ’’ the minister explained.

Umahi encouraged the contractors to embrace the new

technology with ease, which he said will help cushion the effect of dilapidated roads in the South-east region of the nation because of the terrain in the area.

Meanwhile, Umahi has explained the reasons for his working visit to the South-west and other regions of the country in recent times.

“I have been in Lagos and South-west since to evaluate the ongoing projects especially bridges that are so important to Lagos economy, the issue of concrete technology on our roads and review of road contracts. That is why we are going around to see how we can redesign our roads

with concrete pavement,” he stated. He made the remarks while meeting with the Deputy Governor of Ondo State, Mr Lucky Aiyedatiwa, who received him and his team on behalf of the state Governor, Oluwarotimi Akeredolu.

The minister during his visit also explained how Ondo state could partner with the federal government through the Highway Development Initiative (HDMI ) in building federal roads in the state.

“Most federal roads connect one state to the other and when they are cut off, the economic viability of such states are in trouble. That is why I am presenting a memo to

the Economic Council to allow us to access funds to conclude some of these roads and if we don’t conclude them, it will impact negatively on these states’ economies,” he added.

Earlier, the minister after his assessment of Mayfair Junction and the Lagere-Iremo –Enuwa- Ilesha by-pass in Osun state, paid a courtesy visit to the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi. The deputy governor of Ondo state, in his remarks, earlier described Umahi’s appointment as well deserved, noting that as a former governor, his antecedents in infrastructural development and governance were top-notch.

Alake Unveils Transformation Agenda for Solid Minerals Sector

Gives illegal miners 30 days ultimatum to join artisanal cooperatives

To establish solid minerals corporation, mines surveillance security task force

Says ministry will embark on comprehensive review of all mining licenses

Adedayo Akinwale in Abuja

The Minister of Solid Minerals, Mr. Dele Alake, yesterday, unveiled the Transformation Agenda for the sector as part of the plan to position it for competitiveness.

The minister also declared that the Ministry was giving illegal miners 30 days grace to join a miners' co-operative, saying anybody that fails to comply, the full weight of the law would be applied accordingly.

The minister who made this known while briefing All Progressives Congress (APC) press corps in Abuja, also announced that the ministry would work towards incorporation of the Nigerian Solid Minerals Corporation.

Justifying the need for the reposition of the sector, he said at the last count, the country's estimated reserves include Gold (1 million ounces); Limestone (568 metric tonnes), Lead/Zinc, (Baryte (15 million metric tonnes), Bitumen (N1.1 billion barrels), Iron Ore (3 billion Metric Tonnes) and Coal, (N396 million).

The minister wondered how a sector with over two million operators,

including over 633 small-scale companies and 251 500 registered miners, struggle to give the economy capital and human development.

According to him, the reasons were no longer invisible, saying studies and practical experience in the field had identified several factors, such as inefficient geo-data, weak implementation and enforcement, poor environmental, safety, and health policies, fragility and conflict, unregulated artisanal mining, low technical capacity, lack of access to financing, weak inter-governmental and inter-agency coordination and weak federal/state relations over mining land as the severe barriers to the development of the sector.

He added: "The Transformation Agenda: Nigerian Solid Minerals Corporation; Joint Ventures with Mining Multinationals; Big Data on specific seven priority minerals and their deposits; 30-day grace for illegal miners to join artisanal cooperatives; Mines Surveillance Task Force and Mine Police; 6 Mineral Processing Centres to focus on Value-Added products."

Alake, noted that the ministry needed to take the bull by the horns

if the country must reap the harvest of trillion dollars worth of minerals under the ground across the country.

He stressed that to achieve this laudable objective, there has to be a paradigm shift in the strategy by re-positioning the sector in terms of the human and capital factors that could drive its transformation.

Alake, pointed out that mining was big business and Nigeria must assert its presence in the environment by replicating its strategic positioning in the petroleum sector by setting up a corporate body that plays in this field.

His words: "Consequently, the Ministry shall work towards the incorporation of the Nigerian Solid Minerals Corporation. This is a corporate body that will have subsidiaries doing business in the seven priority areas that require immediate intervention and focus: Gold, Coal, Limestone, Bitumen, Lead, Iron-ore and Baryte.

"Existing enterprises, such as the National Iron-Ore Company, and ongoing arrangements, such as the Bitumen Concessioning Programme, will be reviewed to fit into this new system."

The minister further explained that the proposed corporation would seek and secure partnership investment agreements with big multinational companies worldwide to leverage on the attractive investment-friendly regime operating in the country to secure massive Foreign Direct Investment for the mining sector. He stressed that the positioning of the national corporation as a guarantor and protector of the partnership agreements was expected to assure partners of the country's seriousness and fidelity.

Alake said the corporation would also provide robust support for Nigerian businessmen seeking funding abroad and help to authenticate their investment proposals to speed up the commitment of their partners to invest.

He noted, "Domestically, the solid minerals corporation will engage the Nigerian financial system, which has demonstrated palpable reluctance to support mineral prospecting and mining because of the long-term gestation of value generation by developing a Fund to facilitate investments in mining at interest rates that will be mutually agreed."

Vivian Okono, during a press

on the Solid Minerals Sector, in Abuja, ... yesterday ENOCK REUBEN

As Obaseki Goes for Shaibu’s Jugular in Edo...

Adibe Emenyonu writes that the face-off between Governor Godwin Obaseki of Edo State, and Deputy Governor Philip Shaibu, worsens at the weekend with the relocation of the deputy governor’s office from the Government House to another area in GRA, Benin City.

To say the war of attrition between Edo state Governor, Godwin Obaseki and the state deputy governor, Philip Shaibu, is getting complicated by the day is an understatement. Since the deputy governor approached an Abuja high court to prevent his impeachment by the state assembly and the denial by his principal that such move was not even contemplated, there has been a bad blood between the two political actors.

Two weeks back, the disaffection recorded its first casualty as the deputy governor’s sister in-law, a Permanent Secretary in charge of the Sports Commission who apparently assumed that position at the instance of her sister’s husband was forcefully transfered to the Central Administrative section of the Government House, Benin City.

Also, last Sunday, the deputy governor came back from holiday to meet his principal unreceptive attitude towards him. The incident happened during a church service in the State Governmet House to mark the 32nd anniversary of the creation of Edo State.

Drama played out when Shaibu, had made a move to greet the governor who was at the front row in the church, but the governor’s security details fenced him off, refusing to allow him to get close to the governor apparently on instruction.

The deputy governor however, was observed from afar bowing to the governor in form of respect before returning to his seat.

To make matters worse, no seat was reserved for the deputy governor in the front row at the event, as he had to get a chair in front of the other aile of the church hall.

Addressing reporters shortly after the ceremony, the deputy governor reaffirmed his unalloyed loyalty to his boss, Governor Godwin Obaseki, whom he described as his elder brother.

Shaibu said whatever disagreement he may have with his boss was strictly a family affair and he (Shaibu) would never address the governor in the media, maintaining that ambition does not affect loyalty as his loyalty to Obaseki remain absolute.

According to him, ”issues that concern my governor are not what I discuss on camera. He (Obaseki) is my elder brother and boss, if I have any issues with him, I think it is better settled at home not in the media. Family problem are better resolved in a family way.

“I am well brought up and from my Christian background, when you take a vow (with God), you must fulfil it. And the vow I have taken with God is that I will continue to support Godwin Obaseki as the Governor of Edo State

from the beginning to the end.

“But that doesn’t stop any other thing that has to do with ambition. Ambition is personal. Ambition does not affect loyalty. My loyalty to the governor remains absolute.

I am also in solidarity with the governor and declaring my unalloyed loyalty to the governor and nothing more.”

Nevertheless, the governor’s Chief Press Secretary (CPS), Mr. Andrew Okungbowa, defended his principal, saying “whatever happened at the Church service was not at the behest of the governor, neither was he aware what the security aides were doing; in fact the security aides were doing their job. Besides, the governor was not aware that the deputy was coming to greet him.”

Okungbowa posited that the Church is a public event, so the security aides had a duty to protect their principal.

Though well said and articulated, 24 hours after the church incident, Shaibu received another shocking attack. This time, it was at the 60th anniversary of the creation of Midwest region through a referendum in July, 1963 held at the Victor Uwaifo Creative Hub in Benin City.

At the event, the media crew of the State Deputy Governor, were all at work when they were allegedly identified

by the governor’s media aides before security operatives attached to the governor asked them to leave the venue.

It was gathered that as this was going on, the deputy governor tried to intervene but all his efforts were futile as he was also told by the security men that they were acting on “instruction from above.”

At that point, Shaibu who could not be in an event where his media crew was barred decided to leave the venue, a decision that was described as the height of insubordination knowing fully well that as deputy governor, he and his media team have no role to play at the event with his principal as the centre of focus.

His leaving did not however, calm frayed nerved as on the same day, the media crew attached to his office was disbanded with a directive to henceforth request the Ministry of Communication and Orientation for media coverage of activities of his office.

The directive came in a statement by the state Commissioner for Communication and Orientation, Chris Nehikhare who claimed the measure was as a result of the ugly and unfortunate incident that happened during the colloquium held to mark the 60th anniversary of Midwest “where some journalists, who claimed to be the media crew of the Deputy Governor, attempted to force their way into the hall where the governor and other invited dignitaries were already seated”.

This act, according to Nehikhare, was contrary to the accreditation protocol that

One of the workers handling the renovation of the Deputy Governor’s new office who did not give his name, told THISDAY that their job is expected to be delivered on Monday, adding that he doesn’t know what the building was going to be used for as he also had no idea about how the sign board was placed at the entrance. According to him, “I work for the company handling this renovation of this building. Our job is to deliver the project on Monday as agreed. I do not know how the sign board got to the entrance of the building and I don’t have any idea of what the building will be used for.”

Reacting to the development, the state Commissioner for Communication and Orientation, Chris Nehikhare said, “If there is a government sign board saying it is the office of the deputy governor, then it must be so.”

had been established for media coverage of the event, adding that “the orchestrated and stage-managed walkout and disruption was highly regrettable.”

The disagreement between Edo State Governor and the deputy governor may not end with the disbandment of the deputy governor’s media crew as there are indications that the last time Shaibu will step his feet on the soil of Government House, Benin City, is Monday, September 4.

Already, the Deputy Governor’s office has been relocated to a building outside the Government House. The new office is situated at 7, Dennis Osadebey Avenue, GRA, Benin.

The building houses the State Public Procurement Office inaugurated by a former Governor of the state, Senator Adams Oshiomhole on December 16, 2014.

It has a plaque indicating the inauguration date etched by the entrance of the building and a sign post with the inscription, Office of the Deputy Governor, already erected at the entrance with workers seen renovating the building and cleaning the compound.

One of the workers handling the renovation of the Deputy Governor’s new office who did not give his name, told THISDAY that their job is expected to be delivered on Monday, adding that he doesn’t know what the building was going to be used for as he also had no idea about how the sign board was placed at the entrance.

According to him, “I work for the company handling this renovation of this building. Our job is to deliver the project on Monday as agreed. I do not know how the sign board got to the entrance of the building and I don’t have any idea of what the building will be used for.”

Reacting to the development, the state Commissioner for Communication and Orientation, Chris Nehikhare said, “If there is a government sign board saying it is the office of the deputy governor, then it must be so.”

The feud between the two political leaders in the heartbeat of the nation heightened when Shaibu approached the Federal High Court in Abuja to restrain Governor Obaseki, Edo State House of Assembly, Chief Judge of Edo State and others from impeaching him.

In reaction, Obaseki had accused Shaibu of being desperate to succeed him, saying the deputy governor may contemplate coup against him (Obaseki), an allegation Shaibu had vehemently denied, saying he remains loyal to the Governor as there was no ill feeling against Obaseki.

Obaseki Shuiabu

Mixed Reaction in Anambra as Soludo Rolls Out Subsidy Palliative

Last week shortly after President Bola Tinubu announced the disbursement of N5billion to each of the 36 states as palliative to cushion the harsh effect of the removal of subsidy from fuel, Governor Chukwuma Soludo of Anambra State quickly rolled out what has been described as an all encompassing strategy to help ameliorate the plight of citizens of the state.

Soludo in a statement he personally signed said: “Anambra State Government will be distributing rice to over 300,000 households in the coming weeks across the 326 wards in Anambra.

“The following highly vulnerable persons are exempted from all forms of taxation/levies. Hawkers, wheel barrow and truck pushers, vulcanizers, artisans, okada drivers, petty traders with capital of less than N100,000; etc.

“The IGR payments of all transporters; Keke, minibus, etc are hereby reduced by 20% with effect from September 01, 2023.”

Soludo said the mantra of his party, All Progressives Grand Alliance (APGA) is; be your brother’s and sister’s keeper, and there is no better time to exhibit it than now.

“There is no better time to rise up to the full essence of our motto and ideological stance on behalf of the ordinary persons than now. In our 2024 budget, we shall roll out a more comprehensive agenda to address the medium to longer term issues that will help to smoothen the path for all our residents, and ensure that everyone shares in our broad agenda of building a livable and prosperous homeland.

“In the meantime and over the remaining four months of the year (September – December 2023) as well as within the context of our 2023 budget framework, we are rolling out a few immediate and medium term measures.

“Our response recognizes that the subsidy removal affects all citizens, especially millions of the unemployed and underemployed youths and vulnerable segments of the population. Our interim response reflects the need to target the total population,” the governor said.

Soludo added: “In our foresighted response to the rising inflation, our government had increased the salaries of all public servants by 10% effective January 2023. We have been paying the 10% adjustment since January 2023.

“In addition to the salary increase, we will be paying every pensioner and public servant in the employment of the Anambra State Government and the 21 LGAs (approximately 59,000 persons) for the period September 2023 to December 2023 a monthly flat non-taxable cash award of N12,000. This is to augment their monthly take-home.

“We will continue to clear the backlog of gratuity and pension of our pensioners. Recall that we met four-year pension and gratuity arrears when we assumed office, which we have been paying since assumption of office.

“We are determined to collaborate with the Federal Government to ensure that Anambra residents benefit maximally from the myriad of palliatives being rolled out by Mr. President, including: providing our updated Social Register for Anambra residents to benefit from the FGN cash transfer, apply to attract a conditional grant of N50,000 to at least 1,300 nano business owners in each of the 21 LGAs of the State, support MSME and Startups in Anambra to apply for N500,000 – N1million soft loan each at 9% pa and repayable over a period of 36 months, among others.”

After the announcement by Governor Soludo, there have been commendation from diverse quarters, just as a few voices have risen to ask for clarification on the source of the palliatives, to avoid Soludo taking the shine off President Bola Tinubu, who is the originator and the provider of the palliatives.

A group, South-East All Progressives Congress (APC) Young Progressives Forum, in analysing Soludo’s palliatives to the state faulted the measures announced by the governor. In a press statement signed by its national convener, Pascal Candle, the group said Soludo’s address to the

people of the state about the palliatives lacked transparency and accountability.

The group said: “The Anambra State Chapter of the South East APC Young Progressives Forum has noted the effort by the Governor of Anambra State, Prof. Charles Soludo to respond to the concerns we earlier raised as regards the food palliatives that the APC-led federal government extended to all States of the federation including Anambra State.

“We are not moved by those rhetorics, “I will, I will, I will”. Ndi Anambra wants to see action. The address by Governor Soludo did not address our key demand, which is for Prof. Soludo to state in clear terms if the said five trucks of rice the federal government distributed to each state has been received by the government of Anambra State or if we are still expecting the receipt of the five truckloads of rice.

“It is important that we track which rice, Mr. Governor intends to share to 300,000 households and the quantity. If the rice is from the Federal government, it is very important to let our people know so that the State Government will not claim it came from the state coffers. So, we are insisting that Governor Soludo categorically affirm or deny receipt of the five truckloads of rice from the Federal Government as other states like Kwara, Borno, etc have done.”

Away from queries, the governor has received accolades from diverse quarters over the intention to distribute palliatives.

The National Chairman of the All Progressives Grand Alliance (APGA), Sly Ezeokenwa, has commended Soludo, describing his palliative measures as comprehensive. He said: “I am excited to commend the extraordinary efforts of our Governor, Professor Charles Soludo, for his exceptional palliative measures aimed at alleviating the hardships caused by subsidy removal. These initiatives highlight the unwavering commitment of the APGA-led government to prioritize the wellbeing of every citizen.

“I am delighted that the Anambra State Government will be distributing rice to over 300,000 households in the coming weeks, spanning across the 326 wards of our state. This significant gesture will provide much-needed support to families facing economic challenges during these uncertain times.

“Additionally, Governor Soludo has enacted various measures to ease the financial burden on our people. Basic education, from primary school to JSS3, will remain tuition-free for all public schools, ensuring that our children have access to quality education without placing an additional burden on households.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Anambra State governor, Prof Chukwuma Soludo, has announced incentives to cushion the effect of the hardship caused by the removal of fuel subsidy. David-Chyddy Eleke writes about the approach, applause and criticism associated with the scheme.

Soludo

TEXEM Celebrates Ahmed Dangiwa: A Visionary Leader Pioneering Urban Development

In the realm of urban development and housing, there emerges a figure whose dedication, vision, and sheer determination have brought about transformative changes to Nigeria’s landscape. As the resounding news of his appointment reverberates through the nation, it is with great pleasure and admiration that we extend our heartfelt congratulations to Architect Ahmed Musa Dangiwa on his appointment as the Minister of Housing and Urban Development by the President Bola Ahmed Tinubu administration. This appointment marks a milestone in Dangiwa’s illustrious career and heralds a new era of progress and innovation in the housing sector. It is also a momentous occasion for Nigeria, underscoring the administration’s commitment to addressing the critical housing and urban development challenges in our rapidly evolving nation.

With an impeccable record spanning three decades, Dangiwa’s journey is a testament to his unwavering commitment to excellence and profound impact on architecture, real estate, and public service. His journey from an accomplished architect and academic to the former CEO/MD of the Federal Mortgage Bank of Nigeria, and now as the Minister of Housing and Urban Development, showcases his dynamic ability to shape the course of urbanisation in Nigeria.

A legacy of achievement

Dangiwa’s tenure at the Federal Mortgage Bank of Nigeria (FMBN) is a hallmark of his visionary leadership. His mobilisation of an additional N279 billion in contribution to the National Housing Fund (NHF) scheme speaks volumes about his dedication to fostering sustainable housing solutions. Taking the helm when only N232 billion had accrued over 25 years, he mobilised an astounding N279 billion in additional contributions, averaging N55.8 billion per annum. This monumental achievement is a clear testament to his strategic acumen and ability to galvanise resources for a greater cause.

Dangiwa’s accomplishments extend beyond financial milestones, as he initiated and championed the N40 billion FMBN Cities Project, aiming to revolutionise urban living and enhance community well-being. Furthermore, his advocacy for the ordinary Nigerian led to innovative measures, including developing the Diaspora mortgage loan and empowering

overseas Nigerians to own homes without fear of exploitation.

Under his guidance, FMBN achieved a record disbursement of N175 billion for affordable housing loans and construction finance. Providing NHF mortgage loans to nearly 6,000 beneficiaries and offering home renovation loans to over 77,000 individuals showcases his commitment to enhancing the lives of Nigerians through accessible and affordable housing solutions. The provision of affordable housing units nationwide has made a significant impact in addressing the housing deficit in the country.

Pioneering innovation

Architect Dangiwa’s tenure witnessed historic strides in enhancing the affordability of FMBN housing products for ordinary Nigerians. His efforts to reduce equity requirements for housing loans and develop

innovative housing products underline his commitment to inclusivity and accessibility. Notably, his leadership in creating the diaspora mortgage loan is a testament to his dedication to ensuring that Nigerians abroad have the opportunity to own homes without the risks of exploitation.

Awards and recognition

Dangiwa’s accomplishments have been acknowledged and celebrated both nationally and internationally. From being named ‘Real Estate Personality of the Year’ in 2021 to receiving the ‘Mortgage Banker of the Year’ award and ‘Presidential Award for Vocational Service 2021’, his accolades are a testament to his unwavering commitment and outstanding contributions to housing and urban development. His awards range from recognition for his transformative impact to his advocacy for empowerment and disability inclusion, showcasing a wellrounded dedication to community welfare.

A holistic vision

Dangiwa’s accomplishments are not solely confined to his professional achievements. His participation in the TEXEM programme, ‘Leading with Personal Impact During Slow Growth’, held between March 4-5, 2020, speaks volumes about his commitment to personal growth, adaptability, and the pursuit of excellence even during challenging times. During this programme, he demonstrated impressive humility, a commendable commitment to lifelong learning and a remarkable willingness to collaborate with others.

As the new Minister of Housing and Urban Development, Dangiwa stands at the threshold of yet another chapter in his illustrious journey. His proven track record of leadership, innovation, and dedication positions him as a visionary poised to drive forward Nigeria’s urban development and housing agenda. TEXEM, UK, extend her heartiest congratulations to Dangiwa and looks forward to witnessing the transformational strides he will bring to this pivotal sector in Nigeria. His appointment represents a promise of a brighter, more sustainable, and inclusive urban future for all Nigerians.

An encouragement to others

Dangiwa’s appointment should serve as a clarion call to TEXEM and its community of executives. First, this appointment is a testament that the organisation is living its values, insights that inspire and actions that change the world. Secondly, it is a reminder of the impact TEXEM alums can have on the nation and the world when they apply the knowledge and skills they’ve acquired through TEXEM’s programmes. Furthermore, this achievement is not just a personal milestone for Dangiwa. Still, it also represents the calibre of individuals TEXEM nurtures and their transformative impact in their respective fields.

Thus, it’s a personal victory and a collective success story underscoring the importance of continuous learning, networking, and leadership development.

As TEXEM congratulates Dangiwa on his well-deserved appointment, we also cease this moment as an opportunity to reaffirm its commitment to nurturing present and future strategic leaders. Dangiwa’s journey demonstrates the tangible results that can be achieved when knowledge meets dedication.

It is a reminder that TEXEM’s role in shaping leaders transcends its programmes and extends to the broader impact these leaders have on society.

“Congratulations, Architect Ahmed Dangiwa, on your well-deserved appointment as a federal minister,” said the founder of TEXEM UK, Dr Alim Abubakre. “Your compelling strategic leadership, lofty achievements and journey as an alumnus have brought you here, and we trust you’ll use this role to create a brighter future for society and consolidate your impact. Keep reaching for new heights.”

In conclusion, Dangiwa’s appointment as the Minister of Housing and Urban Development is a source of pride not only for him but for TEXEM and the entire nation of Nigeria. It underscores the transformative power of education and the immense potential within each TEXEM alum. Let us celebrate this achievement and look forward to the positive changes and innovative solutions that will emerge under Dangiwa’s leadership. TEXEM takes pride in shaping leaders like Dangiwa and trusts this appointment inspires others to aspire to excellence, leadership development and the pursuit of lifelong learning.

For Lady Nimi Ohuabunwa, this Journey is Painful

Sir Dan Amaechi Ochonma

That someday, every mortal will move on, hit the road for that eternal journey, is a mortal fact. That journey called on you rather too soon,

Lady Barrister

Nimi Faith Ohuabunwa!

For Senator Mao Ohuabunwa, your husband (my cousin) and the entire Ohuabunwa and Ochonma families, do we know life can be this harsh? You were a reassuring presence for your husband, your son and all of us - of whom you took great care of. Indeed, the moment you entered our lives, it was clear that you were more than just a spouse to our cousin; you became an essential thread in the tapestry of our family.

Pointedly, I feel the massive holes your transition has left in the thread of our hearts. Seated here, writing this, my heart is filled with a myriad of emotions. I find myself at a loss for words to truly capture the depth of my despair as you transition beyond. Commiseration and consolation are abounded for me as I hold on to the statement that God, the omniscient knows the best as he alone has the power of creation of life and home call - all at His will.

Lady Nimi, who were you? Well respected by all members of the family, you were a beacon of strength, compassion, and Love. Your gentle spirit and warm smile could brighten even the darkest of days. You were an inspiration to those around you, ever gregarious, intuitive, protective and positively inquisitive.

You were a loving wife, daughter, sister, friend, devoted partner and mother. Your commitment to building a loving and harmonious home

is evident in every interaction we ever had with you. You had a way of making everyone feel valued and heard as you dished out endearing names such as ‘Dear me, Azumamaya’ for your husband and

son respectively. A trained lawyer, hardworking wife and partner to your husband and a super woman, the news of your passing, shook the entire country, as condolences and messages of sympathy poured in from people in all walks of life, including prominent figures in politics and business, civil society and the general public.

You were hospitable, and easily known for lending your ears to wise counsels, not minding the age gap. That way, you earned peoples’ respect and admiration.

Through every twist and turn, you’ve stood by your husband, unwavering in support and love even in times of lows and highs. Your unswerving belief in him gave him the strength to overcome challenges and pursued his dreams fearlessly. Your presence alone is enough to calm any fears and soothe any worries, making every burden seem lighter and every moment more beautiful.

For those of us who had the opportunity to relate closely with you, you taught us the true meaning of compassion, understanding, and selflessness. You’ve shown me the beauty of vulnerability and the strength that lies within embracing our imperfections. You agitation and outspokenness whenever it was necessary or at invasion of your space were some of the values cherished in you even though some may take that as show-off or recalcitrance.

Hajia, as I fondly call you came, played a part and departed. The stars and saints are all lined up for you as they herald your heavenly arrival to rest peacefully singing: When the saints go marching in…Yes, I want to be in their number. When the saints go

marching in…

Indeed, you have joined the saints, helpers are at your beck and call where there will be enduring support, wiping away remnant of tears on your face, consoling and listening to your inner most complaints and fears.

While the pain of your absence weighs heavily on our hearts and the cotton calls and closes in this theatrical world, it is open for you in the beyond where there is no time limit.

We can die having been miserable with others, or we can die having made a difference and leaving beautiful memories in the minds of people.

Any thinking of Hajia automatically brings a smile to the lips of those who knew her because she loved life. She always had a smile.

Thank you, dear Hajia, for the great privilege of my family knowing you these years. I know you are still here among us. Thank you for reminding us that the present moment is precious, and that we should make the most of it by loving fully and generously.

Its been loudly pronounced: Your journey in life and service has been hugely impactful, leaving indelible footprints in all spheres. Like a special star, you shone everywhere you touched. You came, you saw and you impacted very positively.

Your transition to eternity will be peaceful, comfortable and devoid of sorrow, fear and tears.

Spread your wings and fly proudly, Hajia, our lady. You have earned it!

Hajia, Nwanyioma, Nwanyi ngaga, the lady with swag, Osedieme, Sleep well and Adieu!! •Sir Ochonma, wrote in from the UK.

Architect Ahmed Musa Dangiwa

Lady Nimi Ohuabunwa

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EDITORIAL

CHALLENGES BEFORE THE MINISTERS

The ministers should go about their crucial tasks with all sense of responsibility

At the inaugural session of the Federal Executive Council last Monday, President Bola Tinubu told the new ministers that to turn around the fortunes of the country, they need to work very hard. “We have talents; we have the level of intellectuals and capacity to turn this country around. You and I know that the expectation is high,” the president told his team. “Therefore, we must work hard, commit ourselves and create a buoyant economy that will serve every Nigerian.” We agree with the president that for the ministers, the challenges ahead are daunting.

Indeed, given the magnitude of the challenge facing the nation today, none of the ministers should be in any doubt that the responsibility that lies before them are enormous. While political considerations may have informed most of the choices, what the ministers now must do is prove that they have what it takes to handle their respective portfolios and that the trust invested in them by the president is not misplaced. Each of them must perform and perform creditably. Each must begin to identify very quickly what needs to be accomplished and set out an implementation plan that is realistic, transparent and can be evaluated.

Whatever informed President Tinubu’s idea of 45 ministers aside from holding on to the petroleum portfolio, he must understand that failure is not an option. For well over two decades, most of the create the enabling environment for the economy absorb the growth in population or at least arrest the slide in the job market. Our economy has lost millions of jobs in recent years because of weak governments that have been unable to stand up

T H I S D AY EDITOR SHAKA MOMODU

DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

to external pressures. Social sectors like education and health have also been practically abandoned with billions of dollars expended annually on medical tourism to countries like India while our West African neighbours now make huge revenues from Nigerians who study in their countries.

Nigerians are desperate for ministers who understand their needs and problems, and who will work tirelessly to address them. In those critical sectors to which the new ministers have been assigned, Nigerians do not want to see leaders who are insensitive to their plight. They do not want ministers who would play to the gallery, saying what they think the people want to hear, but do absolutely nothing to better the lot of the people. They do not want to be told that huge amounts of money have been allocated to execute out that the money has disappeared into the pockets of those charged with ensuring execution or their cronies.

Put simply, Nigerians do not want to continue the same familiar road that has not led the nation anywhere. It is therefore incumbent on predecessors and determine that they will leave understand that if this opportunity were wasted it would not just be to their personal detriment, but also that of the wellbeing of more than 200 million people. It is equally important for some of them broken.

Finally, it is assumed that the newly appointed ministers have the intelligence, integrity, temperament and discipline to leave their marks as they have been given the chance of a lifetime to serve their country with dignity and honour. At the end of the day, Nigerians will hold them to account.

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

CELEBRATING PEOPLE OF AFRICAN DESCENT

The United Nations celebrated the International Day for people of African Descent on August 31. Africa’s status as the world’s backwater may have endured thanks to a skewed international legal order and self-sabotage. But it is incontestable that some of the world’s brightest lights trace their ancestry to the continent.

From Nelson Mandela to Desmond Tutu to Chimamanda Ngozi Adichie, Africa is well and truly a continent of global icons. It Is not just on the continent that Africans and people of African descent have stood tall. Around the world, in many spheres of life, people of African descent have distinguished themselves to show that they are up to speed with modern realities. Honoring their contributions is key to keeping the world going.

The International Day for People of African Descent was cele-

The chief aim of celebrating this day is to promote the extraordinary contributions of the African diaspora around the world and to eliminate all forms of discrimination against people of African descent.

In 2015, the International Decade for People of African Descent was declared to run until 2024. The International Decade aims to celebrate the important contributions of people of African descent

worldwide, advance social justice and inclusion policies, eradicate racism and intolerance, promote human rights, and assist in creating better, more prosperous communities, in line with the Sustainable Development Goals spearheaded by the United Nations.

The year 2020 marked the midterm of the International Decade for People of African Descent. While some progress has been made at legislative, policy and institutional levels, people of African deracial discrimination, marginalization, and exclusion.

Five years into the Decade, the COVID-19 pandemic shed light on the urgency to address long-standing structural inequalities and systematic racism in health. The lack of recognition remains one ofman rights by people of African descent.

The year 2020 also marked a turning point in the way these issues are being addressed at international and national levels. The murder of George Floyd in the United States galvanized people to protest racism and racial discrimination and prompted important global discussions on racial justice.

On 19 June 2020, the Human Rights Council adopted the resolution on the “Promotion and protection of the human rights and

fundamental freedoms of Africans and people of African descent against excessive use of force and other human rights violations

Commissioner for Human Rights presented to the Human Rights Council at its 47th Session her agenda towards transformative change for racial justice and equality.

There is a surfeit of sobering evidence that despite their remarkable contributions to the advancement in world spheres, Black people and people of African descent continue to face discrimination as a result 9f their skin and race.

The alarming surge of discrimination against Black people has predictably led to the deepening of the inequality gaps.

This has led to increasing tension. In a bid to douse tension, improve equality and generally lead to a fairer and more just world, there has been an increasing emphasis on racial equality and ending all forms of racial discrimination. Building a just world necessarily means that the contributions of all people to global peace, equality, and prosperity is respectfully recognized despite their skin colour. The importance of this cannot be overemphasized.

Ike Willie-Nwobu, Ikewilly9@gmail.com

it is assumed that the newly appointed ministers have the intelligence, integrity, temperament and discipline to leave their marks as they have been given the chance of a lifetime to serve their country

RATES AS AT SEPTEMBER 1,2023

Demand, Strong Fundamentals Lift Dangote Cement, MTN, Airtel, Eight Others’ Market Value to N28.84tn

Kayode Tokede

Following a surge in demand by investors, and strong fundamentals, 11 bluechip companies out of the 155 listed on the Nigerian Exchange Limited (NGX) dominated the equities market in eight months of 2023, growing their market value by 79.2 per cent during the period.

The companies include: Dangote Cement Plc, MTN Nigeria Communication Plc, Airtel Africa Plc, BUA Cement Plc, BUA Foods Plc and Guaranty Trust Holding Company Plc (GTCO). Others are; Zenith Bank Plc, Seplat Energy Plc, Nestle Nigeria Plc, Stanbic IBTC Holdings Plc and Geregu Power Plc.

Specifically, the 11 companies are valued at N28.849 trillion as

of August 31, 2023, accounting for about 79.2 per cent of the total N36.423trillion market value.

The stock market in 2023 has continued to on a positive trajectory, attributable to President Bola Tinubu foreign exchange policies, removal of fuel subsidies that have attracted more foreign investors participation and impressive corporate earnings by listed companies.

According to THISDAY investigations, Dangote Cement outpaced MTN Nigeria and Airtel Africa to become most value stock on Exchange following its price appreciation in eight months of 2023.

Nigerian cement giant company, Dangote Cement leads with a valuation of N6.13 trillion as of

the end of August 2023, followed by MTN Nigeria with N5.76trillion in market capitalisation.

The stock price of Dangote Cement has appreciated by 37.9 per cent or N99.00 per share Yeartill-Date (YtD) to N360 per share as of August 31, 2023 from N261 per share it opened for trading.

MTN Nigeria has also gained 27.67 per cent or N59.5 per share to close August 31, 2023 at N274.5 per share.

In third position among the most valuable companies stands Airtel Africa, boasting a market capitalization of N4.96 trillion as of August 31, 2023.

The stock price of Airtel Africa has depreciated by 23.5 per cent to N385 per share as of August 2023 to N1,250.00 per share from

N1,635.00 per share it closed in 2022.

The Managing Director, Wyoming Capital and Partners, Mr. Tajudeen Olayinka explained that exchange rate volatility impacted negatively on Airtel Africa’s stock on the Exchange. According to him, “Airtel Africa renders services to customers in different jurisdictions and enjoys multiple listing across borders, and so, its share price readily reacts strongly to exchange rate volatility across borders, especially, as it affects earnings and earnings prospect.” With the recent devaluation of the Naira, Airtel Africa had announced that its impact would affect its $1.5million derivative instruments held.

The telecommunication giant revealed that the devaluation in the naira would have a negative impact on its $22million revenues, $12million EBITDA and $7million finance costs (excluding derivatives) in a 12- month basis.

The Central Bank of Nigeria (CBN) recently announced changes to the operations in the Nigerian Foreign Exchange (FX) Market, including the abolishment of segmentation, with all segments now collapsing into the Investors and Exporters (I&E) window and the reintroduction of the ‘Willing Buyer, Willing Seller’model at the I&E window.

It is also worth noting that GTCO also rose to become the most valuable bank on the NGX after surpassing Zenith Bank and

Stanbic IBTC Holdings.

The market capitalisation of GTCO closed August 2023 at N1.08trillion as of August 31, 2023 as the stock price closed at N36.7 per share from N23.00 per share it closed in 2022.

GTCO recently announced an historical profit before tax of N327.40billion in the audited half year ended June 30, 2023, an increase of 2217.09 per cent from N103.25billion reported in prior half year ended June 30, 2022.

The Group on the NGX also declared N280.48billion profit after tax in H1 2023, an increase of 261.63 per cent from N77.56billion reported in H1 2022.

The story continues online on www.thisdaylive.com

External Reserves Marginally Gained $1.87m in August

Nume Ekeghe

In August 2023, Nigeria’s external reserves experienced a slight uptick of $1.87 million, thanks to the policies implemented by the Central Bank of Nigeria (CBN) aimed at stabilising the foreign exchange market.

The external reserves, as reported by the CBN, commenced the month of August at $33.95 billion and concluded at the same figure, marking a marginal increase of $1.87 million or 0.005 per cent.

Analysts have linked this increase to a combination of factors, including inflows from the diaspora and a steady rise in global oil prices.

Additionally, they point out that the news of the Nigerian National Petroleum Company Limited’s (NNPC) $3 billion ‘emergency loan’ from Afrexim Bank may have contributed to further bolstering the external reserves in August.

In August alone, the CBN disclosed that export crude oil price stood at $91.8 per barrel, representing

an increase of 4.34 per cent from $87.98 per barrel it closed in July.

The reported $91.80 per barrel is the highest export crude oil price since November 17, 2022 when the price was at $93.41 per barrel.

The external reserves in eight months of 2023 depreciated by $3.13 billion and it is on the backdrop of CBN interventions in the foreign exchange.

The external reserves opened in 2023 at $37.082billion and ended August 31, 2023 at $33.954billion.

With the foreign reserves at

$33.95billion as of August 31, 2023, the Naira at the Investors & Exporters (I & E) Foreign Exchange market closed the month under review at N757.023 against the dollar from N757.52 against the dollar it closed the previous month.

Also, in August the local currency gained 0.07 per cent against the dollar at the I & E FX window.

The local currency at the specialised window for investors and exporters depreciated by 69per cent in eight months from N448.55 against dollar it closed 2022.

Analysts hinted that the depletion of the external reserves is due to the continuous currency intervention since the CBN still operates a floating managed peg exchange regime, external debt servicing for the second quarter (Q2) 2023 and the lower foreign exchange inflow from oil exports.

According to analysts at Codrdors Securities, “While we understand that the NNPC’s crude repayment facility with the African Export-Import bank

2023

may have been put on hold, we highlight that there have been no further positive news flows regarding other measures to stem the slide of the naira.

“The preceding, in addition to the lingering low crude oil production and foreign investors remaining on the sidelines, are expected to weigh on foreign exchange supply in the near term.

The story continues online on www.thisdaylive.com

Lagos-London Route: Falana Urges FG to Adopt Reciprocity in Addressing Denial of Air Peace by UK Au thorities

Chinedu Eze

Erudite lawyer and Senior Advocate of Nigeria, Mr. Femi Falana has called on the federal government to adopt the principle of reciprocity and suspend flight operations into Nigeria by British Airways and Virgin Atlantic Airways until such a time when Nigeria’s Air Peace is allowed to also operate the LagosLondon route in accordance with the provisions of the Bilateral Air Services Agreement (BASA) signed by Nigeria and United Kingdom.

Falana made this known in a

speech he delivered at the just concluded Nigerian Bar Association (NBA) Conference in Abuja.

Falana stated that BASA allows for reciprocity of flight operations on the route by designated airlines of both countries in line with the agreement signed by both countries and that it was out of place and unfair for British Airways and Virgin Atlantic Airways to be allowed to continue flying into Nigeria without any Nigerian airline flying to London in return.

He observed that Air Peace has proven it has the capacity to

operate on international routes, adding that the airline currently flies to China, Israel, India and South Africa among others using modern aircraft comparable to those of its foreign competitors.

Falana, therefore stated, “If Air Peace is not allowed to fly to London, then British Airways and Virgin Atlantic should be stopped from flying to Nigeria.”

Air Peace has a fleet of modern long-haul and regional aircraft that can match those of other foreign airline operating into Nigeria.

NAICOM: Leveraging Technology Will Ensure Insurance Penetration

Ebere Nwoji

The National Insurance Commission (NAICOM) has called on insurance sector operators to leverage technological advancement in reaching all Nigerians with insurance products and services to deepen insurance penetration

The Commission at the recent media retreat organised for insurance and Pension journalists in Uyo, Akwa Ibo State said the only way to go is through the use of technology.

NAICOM said in the past few years, the insurance sector operators had seen the emergence of core technology trends that were affecting nearly every industry.

It noted that there had been advent of a multitude of technological advancements and shifts that have been reshaping the way we access products and services and or how they were delivered to customers.

It defined insurance penetration as a measure of the contribution of insurance to the Gross Domestic Product (GDP).

It added that insurance penetration was also an indicator of insurance sector development within a country and how much it

contributes to the national economy.

NAICOM’s Assistant Director Information Technology Department, Ibrahim Ngaski speaking on the topic Leveraging Technology to Promote Insurance Penetration at the retreat said: “Insurance companies can maintain a competitive edge by automating, improving and optimising their business processes without compromising efficiency, quality, and response time.”

He said the use of technology would enhance employee productivity, speed-up processes, raise customer service levels, improve customer experiences, reduce operational expenses and increase operational efficiency.

According to him, there is an urgent need for the insurance industry to adopt technologies to provide digital solutions.

He said when this is done; it would improve access to insurance by providing digital channels of distribution, enhancing easier access to insurance products and coverage, speedy issuance of coverage and claims payment and provides innovative products to their customers.

He said the adoption of the following technologies would

UPC: PenCom Urges Employers, Employees to Provide Accurate Information to PFAs

Incomplete documentation hindering crediting of RSAs

provide digital solutions for increased insurance penetration: cloud computing which would enable delivery of various services over the internet, data management, and its flexibility, mobile technology which provides the industry with method used in communicating and marketing varieties of goods and services across different customers timely, thereby bringing services nearer to them to increase customer experiences. Internet of thing (IoT) which according to Ngaski is the internetworking of physical devices, vehicles, buildings and other items (also referred to as “connected devices” and “smart devices”), embedded with electronics, software, sensors, actuators, and network connectivity that enable the objects to collect and exchange data.

“It is a network of smart devices connected to the internet. Insurers are increasingly leveraging the Internet of Things for various purposes, including identification of customers’ needs and risks. This is achieved by wearables to monitor our health and smart devices in cars and consumer products in houses. They are used to collect, share, interact with and analyse data, ”Ngaski said.

The National Pension Commission (PenCom) has raised a red flag regarding uncredited pension contributions, shedding light on a problem that needs immediate attention. The main issue lies in incomplete documentation from employers, resulting in Pension Fund Administrators (PFAs) being unable to credit Retirement Savings Accounts (RSAs) of affected employees.

Ericsson

Reiterates

Commitment to Accelerating Nigeria’s Digital Growth

Emma Okonji

Ericsson has concluded its leadership-led delegation engagement with key partners, customers, country stakeholders, and industry leaders to Nigeria, a development that reaffirms its commitment to accelerating Nigeria’s digital growth.

The visit is in line with Ericsson’s dedication to harnessing the power of connectivity and technology to drive digitalisation across the African continent and support sustainable development and economic progress.

During the visit, Ericsson highlighted current engagements in Africa’s Information and

Communications Technology (ICT) landscape and gave updates on its #AfricaInMotion campaign. The leadership delegation engaged in fruitful discussions with Nigeria’s communication service providers, stakeholders, and policymakers on pivotal topics in the nation’s communication industry. As part of the discussions, Ericsson highlighted the critical role that connectivity plays in advancing the digital agenda of the country, as well as the potential of 5G, cloud computing, and Industry 4.0 technologies.

The discussions also touched on how Ericsson’s plethora of industry-leading solutions could help drive innovation across various

sectors, meet the ever-evolving needs of country, and strengthen collaborations and discourse on cutting-edge solutions to advance Nigeria’s digital revolution.

Ericsson has a longstanding history with Nigeria and remains a key partner driving the country’s digitalisation ambition.

In collaboration with its partners, Ericsson is powering the country’s digital transformation journey through providing the latest innovative technologies like 5G, enabling financial inclusion with the Ericsson Wallet Platform, and empowering young talents under the Ericsson Graduate Program and the Ericsson Innovation Awards.

GAVB Visits LAPO to Promote Sustainable Financing, Climate Change

Sunday Ehigiator

The Director of the Global Alliance for Banking on Values (GAVB), Martin Rohner, over the weekend, visited LAPO MfB, also a member of the GAVB and founding member of the GAVB- Africa Chapter, in furtherance of the global discussion to promote sustainable financing and climate change

Globally, the discussions on sustainable finance and climate change are on the front burner between State and Non-State actors. Energising and leading this discourse

are institutions and organized bodies such as LAPO MfB and GAVB.

In a press release by the bank’s Director of Marketing and Communications, Oluremi Akande, he said, “Beyond Savings and Loans, LAPO MfB is deliberate about its social performance. In essence, the bank has carefully designed social components into its business operations, products, and services it provides to ensure a positive impact on people, the planet, and profit in the most sustainable manner.

“In 2019, LAPO MfB in

partnership with GAVB organised the first-ever international sustainability conference themed ‘Enhancing Sustainable Finance in the Microfinance Sub-sector’, in which promotion of sustainable financing was at the front burner.

“Our vision is to continue to deliver triple-bottom-line returns through our genuine commitment to the implementation of our various ESG mandates, partnerships, and advocacy programs aimed at improving the lives of members of low-income households, especially, women and children.

In a recent statement, PenCom expressed concerns about the growing pile of uncredited pension contributions in the accounts of PFAs. The commission has called for strict compliance from employers and contributors to address this matter promptly. The inability of PFAs to credit the RSAs of employees could potentially affect their retirement plans. As a result, it is critical to act quickly to correct the situation.

The Pension Reform Act 2014 (PRA 2014) is a pivotal piece of legislation aimed at safeguarding the retirement future of Nigerian workers. By virtue of this legislation, employers who employ three or more workers must make pension contributions to their employees’ RSAs, which PFAs expertly manage. The essence is to establish a financial safety net for employees in their golden years, allowing them to enjoy the fruits of their labour without any financial constraints. The PRA 2014 further instructs employers to remit the pension contributions of their employees who have not opened RSAs into nominal RSAs with a PFA designated by the employer.

A nominal RSA is a temporary RSA established for an employee eligible for pension contributions but has not yet chosen a PFA to manage their pension funds. When an employee becomes eligible for pension contributions under the CPS but has not selected a PFA or provided the RSA details to his employer, the employer is still obligated to make contributions on behalf of the employee. As a result, the employer sets up a nominal RSA with a PFA of their choice. The nominal RSA serves as a temporary holding account for the contributions until the employee provides information about their RSA. Once the employee completes the necessary paperwork and selects a PFA, his accumulated contributions from the nominal RSA are transferred to the designated RSA in the selected PFA.

However, certain employers have fallen short of meeting their obligations, generating far-reaching consequences. Incomplete documentation and the failure to convert nominal RSAs into personalised RSAs obstruct the smooth and timely crediting of pension contributions, directly impacting the contributors’ benefits.

Taking proactive steps to rectify this situation, PenCom has made a list of the employers and employees affected by this issue publicly available on its official website and the websites of PFAs. This transparency not only underscores the gravity of the matter but also showcases PenCom’s commitment to fairness and accountability.

Employers and employees featured on the list should swiftly provide the required information to their respective PFAs. This action is essential in accelerating crediting the withheld pension contributions into the employees’ RSAs. Employers on the list that comply will contribute to securing their employees’ financial well-being.

Non-compliance comes with significant implications. PenCom has reiterated that failure to comply with this directive by December 31, 2023, will trigger regulatory actions against non-compliant employers, as stipulated in the PRA 2014.

PenCom emphasises that this is a rallying cry for employers and employees to embrace responsibility. All hands must be on deck to overcome the challenge of uncredited contributions to achieve the objective of a future of secure retirements, unburdened by financial uncertainties.

As the deadline approaches, PenCom reiterates its commitment to effectively regulating and supervising the pension industry. With collaboration between stakeholders and a steadfast commitment to compliance, the pension landscape can provide a secure foundation for employees’ post-retirement lives.

PENCOM DG, Aisha Dahir-Umar

Mbah: We Will Grow Enugu Economy from $4bn to $30bn in Eights Years

On the sidelines of the maiden Enugu State Investment Roundtable, the state governor, Mr Peter Ndubuisi Mbah spoke on his plans to grow the economy from $4 billion to $30 billion, efforts to de-risk access to land completely and the multiple initiatives deployed in the area of ease of doing business, Eromosele Abiodun present the excerpts

Congratulations on your victory, its been 100 days since you assumed office as governor, what has been your experience?

It has been quite an exciting journey. So far, nothing has taken us unawares because we did an extensive study of the situation. We knew what we were coming into. And when we made promises to our people, we gave timelines. The reason we backed our promises up with timelines was because we were aware of the things that we needed to deal with, and we knew that the timelines we committed to were sacred and we were not going to deviate from it.

We did promise that we are going to have an investment forum within 100 days of our swearing in. That is what we are doing right now. It is not Just about the optics or symbolism of making a promise and keeping it, but it is essentially the substance, the fact that there are huge takeaways or success from what we have done today.

You would recall that we got the mandate of the Enugu people entrusted into our hands on the basis of all the promises that we made. One of them was to grow the economy from $4 billion to $30 billion. And we also said to them that that growth will be driven by private sector, it will be enabled by government, but driven by private sector.

We were deliberate because we knew that in order for us to tackle unemployment and generate wealth, we needed private sector investments. It is not going to come from the public sector. And for the private sector to invest, they also need the government to do certain things.

We hear a lot about de-risking investments. It is not even the emphasis about the ease of doing business, which is providing infrastructure security and the ease of obtaining your business permit and construction business property permits. It is about understanding how projects are structured how to make the program attractive for the private sector to come in. So, you have to identify the aspect of the project that you must de-risk. Whether it is the technical risk or the commercial risk. This is because businesses are more than happy to take financial risk, but they are not interested when it has to do with political risk, technical risk and go-to-market risk. Only a few businesses can undertake such risks.

But because we want an inflow of businesses, we want this state to be a preferred destination for business, investments, tourism and living. That means that we have to go the extra mile, which is essentially what we are doing in today’s event.

During your speech at the investment roundtable, you enumerated a lot of sectors you want to drive, but there are concerns you may not be able to do everything at a go. Can you tell us your priority areas that you want to focus on? Secondly, you talked about private sector financing, are you considering the bond market like other states have done?

Certainly, our strategy is to have creative alternative financing models. This means that first of all, the current financing model, which focuses on revenue from the federation accounts is suboptimal. It is not going to work with this current model. Therefore, we all have agreed that this current model cannot serve us if we want to intervene across the critical sectors of our economy.

What that means is that we need to ask, what are the other financing models we have to deploy? First, we have to look at what we have control over. We have control over mobilising our domestic revenue/ resources. So, we need to identify how to optimize our internally generated revenue. ‘What are those impediments that are stopping me from optimally collecting revenue from the service or business enabling MDAs? Or just expanding the tax net?’ I am not saying increasing your tax rates, I mean expanding your tax net.

We have basically done all that within the last 90 days that we have been sworn in. What we have done in our revenue-enabling ministry is to first of all to elevate the service levels to mix the collection of payments and services. You can, from the comfort of your home, assess whatever service, particularly with the Land administration and management. We have automated the systems there so you can apply for your C of O within 72 hours and obtain them. You can access almost all the services you need within the land ministry. It has all been automated. That shifts up our revenue because we are now able to fast-track services and attract payments because

they are no longer collected in cash, you have to assess and pay online and it goes directly to the state treasury single account. There are a lot of things that we’ve done to mobilize the domestic revenue.

The projects we have outlined are very deliberate though the time we had did not permit us to do some detailed analysis. One of the speakers talked about our area of comparative advantages, and that is the reality. Take a look at agriculture for instance, the areas we are focused on are areas we have almost four times factor productivity. Therefore, our rates of productivity in those areas are actually four times better than in any other state. If you take soybeans for example, which is one crop that we are interested in, our factor productivity in soybeans is almost four times. So, the yield you will get from planting soybeans in our land is four times more than what you get in any other state, even in the north.

We have identified those areas of comparative advantages and those are the things we are focusing on. The same thing will go for cassava, palm products and all that. Again, on the value chains, we must go beyond just scaling our production; we must get involved in processing.

That is why we are talking about the special agro-processing zones, which we hope to do at least three across the three senatorial zones in the state.

In terms of the harmonisation of our land tenure, which one of the speakers raised, our plan is to de-risk access to land completely. As an investor, you have absolutely no business worrying about interfacing with the communities. This is because we have earmarked about 300,000 hectares of land for agriculture. And we are providing access roads to those lands. We have parcellated them to different sizes; 1,000, 10,000, 5,000 depending on the appetite of the investor and how big we have profiled them to be.

Again, there are a number of multiple initiatives we have deployed in the area of ease of doing business. In infrastructure we are also doing a lot because we know that businesses have to make profits and we do not want to burden them with the provision of roads, water and all that. When we say Enugu is going to be the number one destination for business, we are not paying lip service to it. And as business owners and those with

background of strong entrepreneurship, we understand what it takes to invest, hence, we make sure that the ground is well watered.

Your plans look good on paper and we believe you will achieve your goals. However, what assurance can you give investors that when you have served your two terms the next governor will continue with your projects?

Out of the three-pronged approach we have taken at strategic objectives. One is the strengthening of our institutions. We are not just building these around us as individuals, we are also building institutions. These are policies that will outlive anyone. At the end of the day, if you have strengthened the institutions through a policy framework and also building systems, it should not be easy for one single person to come and verse that. We are strengthening our public service sector by ensuring that a lot of these things that we are doing have regulatory and legal framework embedded. This makes it almost impossible for any one person to reverse. Just like in the education sector where we are doing 260 basic model schools across, and these schools are designed to provide world-class quality education to our people. Any child in this state from age 3 must have access to this quality education where you have an interactive board in the class, and even have access to ICT at that tender age. Could there be anybody who will come back after eight years to see he is going to shut down those schools? No, because it is already entrenched. And those people you are training would stand up to ask for the right thing, because you have already exposed them to what quality leadership should be.

You were a top player in the private sector but politics is a different mater entirely, how courageous can you be when there is pushback?

Do a peep into my background. You will discover that I came into a sector where we were regarded as late entrance and as ‘one other oil company’. Fast forward 14 years after, we became the market leader having 23 per cent market share with the next company having just 5 per cent. And the sector we are

talking about is an already established sector; the oil and gas downstream sector. It is not like a nascent market where new players are struggling for market shares. It is a market that had already been dominated by the incumbents, so the market shares had been taken over. So, we came in as late entrance in 2008, and by 2021 where the market leaders, we were number one in the market. It can only take courageous execution of strategies to achieve that. When I was going around talking to the people of Enugu about my plans for the state. I use words like disruptive innovation, quantum leap, leap frogging and all that which is essentially what we are going to do. We are going to disrupt the sub optimization and do things differently. If you look at the pattern of growth that we have had in the last 24 years, we were able to grow the economy marginally, but that is not what we have proposed. We have not paid attention to the pattern or the trends, because if we did, we would have used the same rate of growth to measure ourselves.

What we have done is to say that we are going to grow sevenfold in the next 4 to 8 years. That indicates exponential growth. It means that you have to come with disruptive innovations; you have to do things that are radical. Things that are disruptive in a positive way. That is why we have talked about the creative alternative financing model.

There are structures that were put in place to make sure that our cash flow is not impeded yet being able to finance major projects. You know we need about two trillion in the next four years to achieve the sort of infrastructural development and cutting-edge social services we want to provide for our people. If you look at the revenue from the federation account and took everything to do capital projects, it is not up to 400 billion in the next four years. And even out of that money you are currently receiving, a huge chunk of it is dedicated to your recurrent exposure.

How do you plan to mobilise the ordinary man on the streets to key into plans for the state and what are the verticals for your Diaspora project?

Our people are increasingly becoming interested in good governance. And you know that our young people, and indeed even our politicians, are no longer sitting on the fence. They are now all aware that they must demand good governance from their leaders. Good governance, essentially, is felt; If you walk into your house and turn on your switch and light come on, nobody will tell you what good governance is. If you turn on your tap and the water is flowing, nobody needs to tell you what good governance is. If you drive on a road and it is well paved and you will not have to take your vehicle to the mechanic every now and then because of bad roads, nobody needs to tell you what governance is. You have to always know that there is a world of difference between politics and governance. And of course, the minute you are done with your electioneering processes, you need to focus on governance. And this governance must be inclusive. You have to be able to impact all Sections of the states.

You also do that believing that the people will see and feel it, that these things are happening and that there is a huge change. Our hope is that there will be a whole lot of interest. You notice that in the past what has happened is that the diaspora has been invested a lot in this economy, but it has largely been on consumption. Therefore, you see all the remittances that you see flowing in from the diaspora community into our states and other parts of the country being used for consumption.

Our view on that is clear and actually one of the reasons why we have this forum. So that we can actually set up a project that could attract the Diasporas to Invest. So, they can look beyond just sending remittances for consumption, but they can also identify some social impactful projects, which would also give them good returns on investments. That is why we talk about bankability. What we want to do at some point is also to have a diaspora bond that is tradable where once you have set up these funds and the money is coming in, which is used to execute projects. It would become a trade finance structure so that you create a platform for it that allows people to trade.

Mbah

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 31Aug-2023, 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

INFRASTRUCTURE FUND

Oye Meets S’African Envoy, Explores Collaborative Opportunities for Economic Devt

Oluchi Chibuzor

The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Kelvin Oye, Esq., has met with the South African High Commissioner to Nigeria, Thamsanqa Dennis Mseleku, to strengthen ties and harness the collective economic potential of Nigeria and South Africa to drive growth and prosperity in the countries and on the African continent.

The leaders at the meeting, which took place at the South African Embassy in Abuja, Nigeria, explored avenues to collaborate and share resources, leveraging their diverse cultural and socioeconomic strengths.

According to Oye, “A sustained partnership between Nigeria and South Africa holds

immense promise for both nations and the continent as a whole which is the reason for this visit. We believe that by combining our resources, expertise, and innovation, we can unlock new opportunities for economic growth and development.”

He said the discussions during the symbolic meeting centred on the establishment of strategic public-private partnerships that would promote innovation, technology transfer, and investment, adding that, “Such partnerships are instrumental in catalyzing economic diversification, creating jobs, and driving industrialization.”

Noting that the two countries have the potential to become economic powerhouses on the continent, Oye stated, “South Africa and Nigeria share a common history - both have

struggled against apartheid and colonialism. They have a shared history of liberation movements that fought for the freedom and dignity of their people. Today, despite their diverse cultural and socioeconomic differences, they stand as beacons of hope for the black race and Africa. It is, therefore, imperative that they collaborate, share resources, and work towards the development of Africa.”

He further noted, “The visit is an indication of the strong desire to foster a profitable relationship between Nigeria and South Africa. This relationship can be leveraged towards catalyzing innovations and creativity among the youth and women. It can also be used to move our people out of poverty by leveraging public-private partnerships.

ProvidusBank Reaffirms Support for Non-oil Export Business

Nume Ekeghe

ProvidusBank has reaffirmed its dedication to assisting its clients in fostering a sustainable export-driven domestic economy.

The Managing Director/Chief Executive Officer, ProvidusBank, Mr. Walter Akpani, stated this in his welcome address at the financial institution’s hybrid 3rd Non-Oil Export Summit held in Lagos.

Akpani, who was represented by the Deputy Managing Director, ProvidusBank, Mr. Kingsley Aigbokhaevbo, said that NonOil Export Summit series was introduced as part of the lender’s desire for continuous collaboration with major stakeholders in the non-oil export space.

According to him, the summit enables the bank to solidify its support for its stakeholders in agri-business, mining and metals, African fashion and general trading businesses within Nigeria,

thereby creating opportunities for growth in export volume and trade earnings.

The ProvidusBank boss, who disclosed that the latest edition of the summit, focusing on the theme, “The pathway to growing Non-Oil Export in Nigeria,” follows previous successful ones held in the fourth quarter of 2022 and in the 2nd quarter of 2023, said that Fashion Export was included in the third edition of the event, because the bank wanted, “to beam strong ray of light on the earning possibilities embedded in African fashion export,” even as it continues to upscale capacity in the agric business, mining and metals.

He said: “As a future forward bank, we have advanced in our support for export business through template settings and other ambitious strategies to gain a significant share of market in the Business. This event is therefore in advancement of

MARKET INDICATORS

the Central Bank of Nigeria’s objectives towards a sustainable and self-sufficient growth in non-oil export business in Nigeria.”

In his speech at the summit, the Executive Director/Chief Executive Officer, Nigeria Export Promotion Council (NEPC), Dr Ezra Yakusak, who was represented by the Regional Coordinator, NEPC’s South-West Regional Office, Mr. Akintunde Folorunsho, commended ProvidusBank for its support non-oil export business.

In his presentation, the Managing Director, Nigeria Export-Import Bank (NEXIM Bank), Mr. Abba Bello, who was represented by the Head of the Bank’s Lagos Regional Office, Daniella Jarikre, focused on the bank’s mandate and how it has funded a lot of exporters to record significant growth in their businesses.

Stanbic IBTC Asset Management Surpasses N1trn in AuM

Nume Ekeghe

Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings has announced that it has surpassed the N1 trillion in Asset under Management (AuM) benchmark.

In a statement, it noted that this underscores its commitment to innovation, nurturing client connections, and promoting investment success.

Chief Executive of Stanbic IBTC Asset Management, Busola Jejelowo, expressed her joy at this feat, attributing it to the unwavering trust and support of their clients, partners, and stakeholders.

She stated: “This milestone is a tribute to our clients who have entrusted us with their financial goals. Their belief in our capabilities has fueled our journey and their success stories are the true measure of our achievement. For us, the real win is that we have achieved our mission - to empower our clients, to help them achieve their dreams, and to support them to create a legacy of financial prosperity, this is the true prize.”

Busola went on to express appreciation to the clientele of the organisation. “I want to extend my profound gratitude to our esteemed clients. From the bottom of our hearts,

thank you for choosing us as your preferred financial partner. Your partnership has been the cornerstone of our journey and our commitment to your investment prosperity and dreams has always been and will continue to be our driving force.”

The Chief Executive also reiterated the company’s commitment to excellent service delivery to its clients. She said; “as Stanbic IBTC Asset Management moves forward, it will continue to innovate, deploy cutting-edge investment strategies, and provide tailored investment solutions that evolve in tandem with our clients’ needs.”

9PSB, LSETF Roll Out Financial Literacy Campaign

Nume Ekeghe

9Payment Service Bank (9PSB), Nigeria’s digital payment service bank partnership with Lagos State Employment Trust Fund (LSETF) has taken its financial literacy and empowerment programmes to the residents of Alimosho, Ikorodu and Badagry Local Government Areas of Lagos State.

The initiative is aimed at enlightening and equipping the

participants with the required basic financial knowledge skills and leveraging technology to grow their businesses.

Speaking at the event, a representative of the Head of Sales and Distribution at 9PSB, Oladimeji Saka, said: ‘’We have taken this strategic step to bring to you this training and empowerment programme to equip you with the right digital and financial know-how that will immensely help you manage your financial resources

Money Market Indicators (in Percentage)

daily, be a personal business owner and perhaps expand your small business with the Bank9ja Agent banking services.

“Apart from our agent banking, we have introduced a significant change, an innovation known as micro-payment into our banking services. 9PSB is the first bank to bring this on board. As our business partners, every transaction you make at your point will be part of your revenue, ”Saka remarked.

OPEC

The price of OPEC basket of thirteen crudes stood at $85.71 a barrel on Thursday, compared with $85.84 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

DAILY BASKET PRICE AS AT 25 AUGUST, 2023

National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Kelvin Oye, Esq. (left), with the South African High Commissioner to Nigeria, Thamsanqa Dennis Mseleku, during a meeting at the South African Embassy in Abuja…recently

GTCO, Fidelity Bank, Stanbic IBTC Shareholders to Get N42.15bn Interim Dividend

KayodeTokede

Following a good performance in H1, Guaranty Trust Holding Company Plc (GTCO), Fidelity Bank Plc and Stanbic IBTC Holdings have announced plans to reward their shareholders with N42.15 billion interim dividend for half year ended June 30, 2023.

The three banks in H1 2022 paid shareholders N31.16 billion as interim dividend.

Shareholders await Access

Holdings Plc, Zenith Bank Plc, and United Bank for Africa Plc (UBA) half-year ended June 30, 2023 results and declared interim dividend.

GTCO in its H1 2023 declared N0.50 per share interim dividend, amounting to N14.72billion, while Stanbic IBTC Holdings announced to shareholders an interim dividend of N1.50 per share, representing a net worth of N19.44billion.

For Fidelity Bank, the manage-

ment proposed N0.25 per share interim dividend, translating into N8 billion returns expected to share among shareholders that invested in the bank

The improved dividend in H1 2023 can be attributable to an impressive increase in profit amid a decline in dividend yield.

Specifically, the three banks reported N410.4 billion profit after tax in H1 2023, an increase of 212per cent from N131.53 billion reported in H1 2022.

GTCO announced historical N280.48billion profit in H1 2023, an increase of 261.6 per cent from N77.56billion reported in H1 2022, while Stanbic IBTC Holdings declared N67.92billion profit in H1 2023, an increase of 121.5 per cent from N30.67billion in H1 2022.

In addition, Fidelity disclosed N61.99billion profit in H1 2023, an increase of 165.99 per cent from N23.31billion in H1 2022.

The Chief Executive Stanbic

IBTC, Dr Demola Sogunle in a statement said, “The first half of 2023 was an eventful one for us as an organisation within the Nigerian operating environment. Events such as the general elections and cash scarcity led to relatively slower business activities at the beginning of the year, causing the Stanbic IBTC Bank Purchasing Manager Index (PMI) to print below 50 index points.”

According to him, the Group reported significant growth in key

income lines during the period under review.

“The Group’s profitability increased by over 100per cent year-on-year (YoY) driven by growth across our revenue streams. Interest income grew by 62per cent YoY, mainly due to higher yield and volume of loans and investments, which is in line with our efforts to support our clients through loan offerings and investment opportunities,” he said.

PRICES FOR SECURITIES TRADED ASOF AUGUST/31/23

Strengthening Community Policing One City At a Time

To strengthen community policing and boost its commitment to enhancing security, Asharami Energy, a Sahara Group Upstream Oil & Gas company, through Sahara Group Foundation is keen on renovating police stations one city at a time. Chiemelie Ezeobi reports that recently, police stations in Koko, Delta State and Ologbo in Edo State, were beneficiaries of such upgradeorists

The vision of Sahara Foundation, which drives Sahara Group’s Personal and Corporate Social Responsibility (PCSR) initiatives, is to promote activities targeting sustained (impact driven) societal wellbeing and touching lives through transformative partnerships and at the foundation, its key commitment pillars for all interventions, include – Increase Access to Energy and Sustainable environments.

Since 2019, Sahara Foundation has been promoting sustainable policing through police station renovations by building of infrastructure with equipment and even solar systems upgrade. The project is spread across the country as they go about renovating different police stations.

So far, through partnerships, they have overhauled eight police stations in Lagos, Rivers and Delta States, with many more in the pipeline. The police stations include MMA1 (Beesam) Police Station, Lagos; Ijora Police Station, Lagos; Trinity Police Station, Lagos; Onne Police Station, Rivers; Ijede Police Station, Lagos; Koko Police Station, Delta; Ipaja Police Station, Lagos; and Ologbo Police Station, Edo State.

One of such partnerships comes through Asharami Energy, a Sahara Group upstream Company, which is a leading Exploration and Production company that delivers sustainable growth through the acquisition and development of viable assets across Sub-Saharan Africa. Essentially, the company is committed to the achievement of highest known standards of quality, health, security, and safety in all its operations.

Enhancing Security in Koko

Not done, Asharami Energy, Sahara Group Foundation also renovated Koko Police Station, in Delta State in keeping with its commitment to enhancing security in Koko and its environs.

Delivered through Sahara Group Foundation, the corporate social sustainability vehicle for Sahara Group, the project is yet another expression of the organisation’s commitment to making a difference across its host communities.

Speaking at the event, the Director, Sahara Group Foundation, Ejiro Gray said “At Sahara Group Foundation, we are fully committed to impacting lives and livelihoods wherever we operate. Our unwavering commitment to promoting a sustainable environment is reflected through projects like this. The installation of solar panels will facilitate access to clean and reliable energy, helping the police carry out its activities seamlessly.”

Gray commended the Nigerian Police Force for their support and collaboration during the

renovation process, adding that Sahara Group Foundation would continue to seek avenues for joining forces with well-meaning organisations for the purpose of touching and improving lives and communities.

The newly commissioned Koko Police Station boasts of a range of enhancements, including, structural repairs and aesthetical changes to the building, plumbing works and change of sanitary wares. Other renovation work done includes a new office block/ building for investigative officers, and the installation of solar power.

In his remarks, Babatomiwa Adesida, Head, Stakeholder and Community Relations, Asharami Energy, said the project would help promote sustainable policing in the community and foster economic growth and development.

Adesida stated that “the renovation

of the Koko Police Station reinforces Asharami Energy’s commitment to working collaboratively with its host communities to drive sustainable development.

"Security is a critical requirement for the wellbeing of any community, and we are confident that the project will support the activities of the police, improve security remarkably, and give the good people of Koko the confidence to pursue their dreams.”

In his address to guests at the event, the Deputy Police Commissioner, Koko Police Station, CSP Offordile Leonard commended both Asharami Energy and the Sahara Group Foundation for the work they have done with the Koko police station.

He stated that “the renovated Police Station will significantly boost the morale of the officers at the Koko Police Station and support their endeavors towards promoting peace and security within the Koko area, as well as neighboring communities”.

Strengthening Community Policing in Ologbo

The need to strengthen community policing also spurred Asharami Energy, a Sahara Group Upstream Oil & Gas company through Sahara Group Foundation, to renovate Ologbo Police Station in Ikpoba-Okha Local Government Area of Edo State.

The newly Ologbo Police station underwent a comprehensive overhaul of the police station's infrastructure. Renovation work done includes structural repairs and aesthetical changes to the building, plumbing works and change of sanitary wares. A new office block/building for investigative officers was also constructed, as well as the installation of solar energy system. According to the company, the transformative makeover of Ologbo Police Station is a reflection of Asharami Energy’s dedication to enhancing public safety and supporting the welfare of the communities in which they operate.

Speaking at the commissioning and handover ceremony, the Director, Sahara Group Foundation, Ejiro Gray, stated that ‘At Sahara Group Foundation, our effort is geared towards helping to create sustainable societies. And with the renovation of the Ologbo Police Station, we are once again demonstrating our commitment to supporting the institutions that protect and serve our society."

Also speaking at the event, the stakeholder and community relations manager, Asharami Energy, Babatomiwa Adesida, said “Asharami Energy recognises the critical role that law enforcement plays in maintaining peace and security within our communities. And that the renovation of the Ologbo police station underscores the organisation’s values of sustainable development, community empowerment, and social impact”.

In his remarks, an elated Enogie of Ologbo, His Royal Highness, Owenubugie Akenzua, applauded Asharami Energy and Sahara Group Foundation for carrying out this laudable project in Ologbo, adding that "a secure community is the foundation for progress and that the renovation of the Ologbo Police Station will support improved security and peace in the Dukedom".

Also speaking, the Deputy Police Commissioner, Ologbo Police Station, CSP Moses Nkombe, thanked Asharami Energy and the Sahara Group Foundation for the renovated station. The DPO stated that “this will go a long way to enhance operational efficiency and enable the officers to better serve and protect the communities under the station command”.

Security is a critical requirement for the wellbeing of any community, and we are confident that the project will support the activities of the police, improve security remarkably, and give the good people of Koko the confidence to pursue their dreams

L-R: CSP Idrees Abdullahi, Delta Area Command; Ejiro Gray, Director, Sahara Group Foundation; Felix Ologho, Police Community relations Committee; Elder Edward Daibo, Elder council Koko community, and Lt. Col Dudu, Commandant 90 Amphibious, Koko, at the handing over ceremony of the renovated Koko Police Station, Delta, Nigeria

L-R: Babatomiwa Adesida, Stakeholder and Community Relations Manager, Asharami Energy; Ejiro Gray, Director, Sahara Group Foundation; ACP Angela Akaro, Edo State Area Command; HRM Owen Jason Akenzua, Enogie of Ologbo, and CSP Moses Nkombe, DPO, Ologbo Police Station, at the handing over ceremony of the renovated Ologbo Police Station, Edo State, Nigeria

Jeff-Nnamani: Govts Must See Healthcare as Economic Growth Enabler

Dr. Dorothy Jeff-Nnamani is the Managing Director/Chief Executive Officer, Novo Health Africa Limited, is a National Health Maintenance Organisation providing health care across Nigeria and accredited by the National Health Insurance Scheme. In this interview, she highlights measures governments at all levels in the country must take to transform the healthcare sector. Obinna Chima brings the excerpts:

Some have argued that Nigeria’s healthcare sector is on the brink of collapse, what is your own assessment of the sector?

We have been hearing for over 10 years now that the sector is on the brink of collapse. I personally feel it is comatose. Nigeria’s healthcare is underfunded; we don’t have the resources and infrastructure; we don’t have modern medical facilities; we are suffering brain drain; medical tourism, and everything you can think of has gone wrong with the system. We have policies, but are they being implemented? There are some areas that also need serious regulations and of course, laws to be established by the federal government. Luckily, last year, there was hope as the National Health Insurance Bill was signed into law by President Mohammadu Buhari. What that was supposed to do was to drive health insurance. However, there are so many other challenges in terms of infrastructure, skills, poor wages and the doctors are always on strike. So, the sector is comatose, it has collapsed and needs resuscitation.

So, how can these challenges be addressed?

The government needs to be committed to healthcare. The problem is that our governments have not been able to link healthcare to development.

If they can appreciate the interdependence of health and development, they would focus more on healthcare. You hear government often talk about poverty alleviation programmes, but if health is not tackled, being an enabler for poverty alleviation, then it will be difficult to achieve poverty alleviation.

The poor people are the ones who are always vulnerable to ill-health and when they are ill, they don’t go to the hospital because they the finance and when they don’t go to the hospital, their health deteriorate and when they are at the point of death, they start selling their assets which makes them poorer and as they get poorer, the poverty is being transferred in the family. So, we must look at health from an economic growth point of view, and from a social development point of view. Our population is our assets, but they have to be healthy. It is only a healthy human being that can work and it is only in good health that we are able to work and enjoy life. Imagine the people we lost during the COVID-19 pandemic. So, that appreciation of what health has to play in development would make the government spend the right amount on health. Our budgetary allocation for health is still very poor. Countries such as Togo, Malawi, Rwanda are all meeting the 15 per cent allocation for health that was committed to at the Abuja Declaration, but Nigeria’s highest budgetary allocation to the sector is still around five per cent. So, it is terribly underfunded and government has a heavy role to play in healthcare.

Nigeria has a pluralistic health system – the public sector and the private sector. In the public sector we have the local government and the state government, but we ought to have healthcare at the ward levels. If we can have wards for people to vote during elections, why can’t we have a primary healthcare at every ward? We complain about medical tourism; our problem is outbound medical tourism, if we have in-bound medical tourism, we won’t be complaining. People leave America to other countries for healthcare as well.

There is nothing wrong with medical tourism, but Nigeria is crying because all we have is outbound. People are travelling out to look for healthcare, mostly because of ailments that cannot be treated in Nigeria. So, we have to do the connectivity between healthcare and poverty alleviation. If we don’t connect it, we won’t be able to appreciate where our problem started. The primary healthcare level that is supposed to take care needs are not available and a simple high blood pressure now deteriorates to kidney failure and if you want to treat kidney disease, there are only two dialysis centres. So, they have to look for money and go to India for treatment. So, the foundation is primary healthcare and we must address it. And when I mean primary healthcare, I am not talking about just building two rooms, which to me is ridiculous. You are treating people in the village and you are behaving as if you are doing them a favour. Health is not a privilege for

some few, everybody deserves to get the best treatment to keep them alive. It really bothers me that we are not taking healthcare serious.

What advice do you have for the new health minister on how to transform the sector?

If I am to sit with the new Health Minister, I will tell him that, yes, we know that there are competing needs, but there is something that Nigerians are good at that we have not tapped into, which is philanthropy. We need to tap into philanthropy in health. It is done everywhere in the world. You go to big hospitals in the United States and other developed countries, you will see medical facilities that were sponsored by philanthropists. Nigerians are givers and we need to tap into that to develop our healthcare sector. Today, people are building churches of N100 million or even more and donating to churches and we need to do that for healthcare. How come we don’t have grants? How come there are no such opportunities for research and development? We need Nigerians to take hold of their healthcare; let’s involve Nigerians and give them incentives such as tax break or reduction in their tax.

There ought to be a structured way of approaching it. Now for medical mission. I personally don’t like the way we do medical mission in this country and we need to structure it. You can’t just and set up and give people medication and go, because you might end up doing them more harm than good. If it abroad that you want to do medical mission, you must get clearance and there is a process that needs to be followed.

Also, it has to be what the people need. Sometimes, people just want to use medical mission to chase clout. A lot of it is happening in Nigeria, whereby they come, administer whatever medications they want and go and nobody cares how they react to the drugs that were administered on them. So, medical missions in this country needs to be structured. There should be inter-sectoral connectivity between the Humanitarian and Poverty Alleviation ministries. Again, for the diaspora, let’s turn our brain drain to brain gain. We have a number of them outside this country, but they have to

incentivised to support Nigeria’s health sector, even from abroad. Technology is driving everything today. Many of them that left this country, their eyes are watching what is happening back home and if they see any move by the minister, they would support him. I was speaking with my colleague recently and she told me that some doctors are now poor. In the past, doctors were never poor. They might not be too rich, but they have always been okay. A doctor could afford to buy a car and they work and enjoy their work. So, why are doctors in Nigeria not enjoying their work? You have to take care of the caregivers so that they can take care of their patients. If you don’t take care of the doctors, they go on strike and people suffer; if you don’t take care of them, there would be sharp practices because they want to make money. Our sector is health insurance and it is difficult. With what is happening in the system, people sort of put health insurance at the back and you are practically begging for people to take up health insurance.

What role is Novo Health Africa playing to addressing some of the challenges in the sector?

Novo Health Africa is a Health Management Organisation. We are in the business of health insurance and you know that health insurance is at the centre of universal health coverage. So, we have a very important role to play in universal health coverage and we are doing it by ensuring that we are bringing more people to that insurance pool. We understand the dilemma of Nigeria, we understand that there is poverty and that many people don’t have disposable income.

For you to be taking insurance cover for risks that have not happened and may or may not happen, it is with disposable income and you have to take out that fund from somewhere. Many families cannot even feed and you find out that the insurance sector till today has not been covered. So, what Novo Health Africa is doing is to be at the forefront of that, designing and developing a lot of health financing programmes that can accommodate the people in the formal sector. There are people that want to cover their

elders and many HMOs are not covering that, but Novo Africa has such plan. So, through research, because we are a data-driven and techonology-driven organisation, we are able to develop programmes that can satisfy different organisations, associations, communities or people.

Also, in acknowledging that the people who are using our services need better experience to continue improving on their health-seeking behavior, we use technology to improve on our services. Recently, we launched the Novo Apoyo, which was the first in the industry. It has never been done anywhere. Novo Apoyo is to enable our clients have better health experience when they go to the hospitals. It also enables our clients to see themselves as healthcare consumers and with that, they are more involved in decision making about their health. Also, we create awareness. Novo Health Africa is at the forefront of mental health awareness and we do this to make people to be conscious of their psychological and emotional wellbeing.

That is because health is the complete social, physical and mental wellbeing of a person. You know that affordable healthcare is one of the criteria of universal health coverage – affordability, efficient and quality. We are also creating awareness to let people know that affordable healthcare does not mean sub-optimal standard of health. Like I said, we design programmes looking at different models of healthcare financing and recently Novo Health Africa was one of the winners of the WiNFUND – the Women in Healthcare Innovation Fund. There was a paper that I wrote about healthcare financing that would ensure that people who are poor. The ceremony was done in Rwanda and we were one of the 50 selected. We are working with them.

Can you tell us more about Novo Apoyo?

One of the monumental headaches we have in health insurance is communication issue and it is a big challenge when people get to the hospital. There is a lot of mistrust in our society and as I said earlier, people don’t pay attention to healthcare. Health is normally the last on the list of preference, but when they fall sick they want heaven to fall down. I also said earlier that we work with data and when we analysed all the complaints, including administrative delays, we thought of how to bridge the gap so that the hospital can concentrate on their core job of diagnosis and treatment. We are a consumer-driven service provider and we want our customers to have good client experience. We are probably the only HMO, but I know that we have a customer service charter, they are five and we believe in it. It is a reflection of our commitment to our customers. So, we looked and it and with the use of technology, we developed the Novo Apoyo. You know in technology, you have the innovation and the transformation and both of them are always done to better a process. So, the enrollees can self-check themselves in when going to the hospital. You don’t need to get there and they start calling your HMO. Even if they don’t have network, it doesn’t concern you. Also, there are cases of misrepresentation of medical records because people are still using paper to document records and many hospitals do not have the technology to drive their digital process. But with Novo Apoyo, we have your medical records, no matter where you are and your health profile comes up immediately. So, it is empowering to the patient. And for the companies that we are covering, with Novo Apoyo, we have on-time, real time utilisation. So, Novo Apoyo is a game-changer and it is solving a lot of issues, even for the providers. For examples, if we have 20 people standing at the reception waiting to be attended to and they have just one person at the front desk keying everything in, which takes a very long time. Nobody has the luxury of manpower in Nigeria right now because of ‘japa.’ With Novo Apoyo, they all come to the hospital already checked in. All you need to do is to take it and validate. It solves different headaches in the industry and we hope there would be Apoyo 2.0 and probably Apoyo Pro Max.

Jeff-Nnamani

In Defense of Akintoye Akindele

Obiora Tabansi Onyeaso

In recent weeks, media sites, blogs, and social media have been saturated with allegations of corporate malfeasance at Duport Midstream Company Limited.

The accusations are being made by some board members. In the hollow courts of online comments sections, the villain is Dr. Akintoye Akindele, chief executive of the petroleum refining company. Akindele is a businessman, investor, and philanthropist.

I am inclined to believe that the slew of ad hominem attacks on Akindele and his family that have proliferated online are being carried out by sponsored busybodies.

What should, ordinarily, be an exposé on serious matters of corporate governance and financial control at one of the fastest growing companies in Nigeria has become a firing range for character assassination.

Notwithstanding, discerning folk are asking hard questions. Some of the claims made do not add up. The fact that Nigerians are yet to be treated to an in-depth investigative news report of the events at Duport Midstream weeks after the crisis broke speaks heaps about the state of journalism.

Then there is the one-sidedness of the stories out there. After all, audi alteram partem is a fundamental principle of natural justice and a cornerstone of journalism.

Just as unsettling is the involvement of the police in what appears, from my perch, to be a purely and exclusively civil dispute.

The sequence of events pertaining to Akindele’s detention raises a number of questions. On July 20, the Police stormed his office in Lagos where they met his absence.

When he received information about the raid, he immediately reached out to the police authorities to find out the purpose of the invasion. A day later, on July 21, a letter was received at his office inviting him to visit the Police headquarters in Abuja on July 24 over a petition.

However, he had already scheduled to be in Senegal for an event, the annual Africa Walk, which was planned months in advance. He travelled on July 23. Africa Walk is organised yearly by Platform Capital, an investment firm where he sits as the chairman.

In any event, an acknowledgment of the invitation and request to be permitted an extension until July 31 to be at the Police headquarters was sent by his lawyers.

This was delivered to and acknowledged by the Police headquarters on July 24. When he arrived back in Lagos on the July 27, he immediately made plans to be in Abuja for the committed appointment. To his utmost shock, on July 30, a day before his trip to honour the invitation, his home was invaded by the police. He was whisked off to Abuja. The purported reason was that he was evading arrest.

According to reports, that his arrest became necessary to enable the Force to carry out a thorough investigation. Pray, since when did the start to put the cart before the horse?

Should an investigation not have been concluded by the honorable Nigeria Police Force before his arrest? By putting the cart before the horse, a reputation that took decades to build has been pilloried in the public square.

To backtrack a bit, the warrant that served as the basis of his arrest were issued by a Chief Magistrate in Nasarawa State. This warrant has now been set aside by the same court because it lacked the jurisdiction to hear the matter in the first place, and vital facts were concealed when an application for a remand order was made.

The Shock and Awe tactics applied by Akindele’s traducers have only served to bolster my confidence that desperation lurks beneath the surface of the tempest blown his way.

In the interest of full disclosure, Akindele is a close friend of twenty-nine years standing. This transparency is necessary because it has become the fashion to write public defenses under pseudonyms. If, at the end of the day, he is found guilty of the allegations by a court of competent jurisdiction then I will accept that I erred in my character appraisal.

But supported by the modicum of facts, which I am privy to I am optimistic that he will be vindicated. Throughout the time I have known him, he has always come across as a focused, hardworking, and principled go-getter.

Over the years, I have seen him hit highs and dark troughs. In high stress situations, have witnessed him his vent his anger – yes, that too – when those he trusted to execute on a project did not share his commitment to an outcome.

The last thing I will do here is to pretend that he is a man without flaw. But just as quickly as he flared, I saw him don his boyish charm to express remorse when he hurt people dear to his heart. I have seen him fall and rise again. This has happened not once or twice.

But above all, I have watched him stand loyally by his friends high and low. He is what we used to call a dependable 1 a.m. friend. That is someone you could ring in the dead of the night to come to your aide at an inconvenient hour.

Up close, I saw Akindele build himself up to become the man he used to tell me he would become. The only difference is that he came up with a better version of himself than we could have dreamt of. Our relationship dates back to the salad days of youth at Obafemi Awolowo University, Ile-Ife in the mid-nineties. I was admitted to study Politics, Philosophy, and Economics (PPE). He was in the

Chemical Engineering Department, three years ahead of me.

We were introduced by a mutual friend who was his contemporary at Nigeria Navy Secondary School, Ojo. Right away, we took a liking to each other.

It was not hard to see why. We shared a common upbringing. Our parents were cut from the same yardage of the old school public service system. My dad rose to the height of his career in the national power parastatal, and his dad flourished at the Central Bank of Nigeria, where he rose to become a director.

In the excitement of first year liberty, I almost got carried away by the sights and sounds of Great Ife. Woe betide me.

The trio of he, Tope Osazee, and Henry Imona, sadly now late, all my seniors, came to my rescue. They taught me how to walk the minefield between having fun and graduating with good grades. Akindele’s motto, which I imbibed, was “Work smart. Play well.”

Later on, our friendship extended to our families.

His older brother, Bola “Sir Bolly” Akindele, founder of Courteville Plc., a listed company on the Nigerian Exchange, became a highly benevolent mentor to everyone in his circle. I wish to place on the record that Sir Bolly offered me my first job after graduation.

I may add here that Oluwatosin Odusanya, one of directors up in arms

against Akindele at Duport Midstream, was a member of that coterie. They were inseparable. On my side, Akindele embraced my younger brother, Nwachukwu, as his own.

When he observed that I was not enamoured of the rigours of the Chartered Financial Analyst (CFA) qualification, he shifted the pressure to my sibling. He encouraged him every step of the way. Those close to Akindele can attest to his affinity for mentoring younger people.

I am pleased to say that Nwachukwu is a proud Charterholder working in the United States today.

After completing his national youth service, Akindele made a detour to finance. Starting at Guaranty Trust Bank in the days when Fola Adeola held sway, he thereafter moved to Lead Merchant Bank under the cerebral Bimbo Olashore at a time when the franchise was a Top-3 house for investment banking in Nigeria. Later on, he was headhunted by John Darlington, a visionary banker, to join the foundation team at Bond Bank. There he found his calling working with emerging companies. Soon, he landed at African Capital Alliance, a PE firm founded by the polymath Dr. Okey Enelamah.

After a couple of years, he decided to venture out on his own. First came Synergy Capital, then, Platform Capital.

Bracketing his record at the last two, Akindele has been involved in some of the most transformational financing for emerging in Africa in the last 8 years.

I have had the privilege to see him in his element during meetings with founders and investors. The force of passion he projects can only impress that he was born to do this.

There is no debate that Platform Capital is in the first rank of VC companies on the continent. Its portfolio ranges across fintech, distribution, media, healthcare, online travel, blockchain, to list a few. Beyond funding, Platform opens doors to global networks and top-tier talent hires.

The firm’s annual Africa Walk is locked on the calendar of several global investors. Since 2021, they have come from around the world to see the reality of Africa for themselves. In between their stay, Platform Capital facilitates meetings with companies in its pipeline. As far back as I can remember Akindele has been a believer in Nigeria’s potential. I cannot recall a single time when he spoke about moving overseas.

Even in our undergrad days under General Abacha’s dictatorship he always told me that Nigeria would work for us. Back then, I mistook his belief for naïveté. His journey has proved me wrong. The Duport Midstream refinery is a dream long in the making. As early as 2014, he used to speak about building an integrated petrochemical complex to meet local consumption demand. Whenever I teased him about the boldness of his dream, he would answer “It’s not nuclear physics.”

That dream has become a reality today. This is why I cannot find joy in the boardroom quarrel that risks tearing the company apart.

The strategic importance of Duport Midstream’s refinery is underlined by the fact that it is one of four functional refineries in the country. Bear in mind that a major cause of Nigeria’s current economic doldrums is the huge portion of its foreign earnings depleted annually for the importation of refined products.

The allegations raised by Duport Midstream’s directors are weighty ones indeed.

Good may yet come out of this boardroom row. By turning to the courts, judicial clarity will be given over the responsibilities of a company promoter in an executive position, the proper rights of a major shareholder, and the limits of non-executive director powers. I am holding my breath for a quick resolution or speedy adjudication.

On the subject, I can state with prejudice to none that “All eyes on the judiciary”.

One can only pray that the jobs of several hundred workers, livelihoods in the host community, and investor confidence in Nigeria’s energy industry are not penalized by the hasty crucifixion of one good man.

Akindele

“There is no debate that Platform Capital is in the first rank of VC companies on the continent. Its portfolio ranges across fintech, distribution, media, healthcare, online travel, blockchain, to list a few. Beyond funding, Platform opens doors to global networks and top-tier talent hires.”

UNVEILING AND PRESENTATION CEREMONY OF PRACTICE LICENCE STAMP FOR PUBLIC ANALYSTS…

NSITF: More States Set to Join Employee Compensation Scheme

Onyebuchi Ezigbo in Abuja

The Nigeria Social Insurance Trust Fund (NSITF) has said more state governments are on the verge of registering their workers in the Employee Compensation Scheme. It said the aim was to enable public sector workers at the state and local governments enjoy benefits of the scheme.

A statement signed by the General Manager, Corporate Affairs of NSITF, Nwachukwu Godson, stated that Anambra and Abia State governments both promised over the weekend to enrol workers in their respective states into the programme.

According Godson, the assurance was given when the state Branch of the NSITF paid a sensitisation visit to the Government House in Awka by the Anambra State Head

of Service, Theodora Igwegbe.

Igwegbe said she would liaise with all relevant offices towards ensuring that the state government enrol its workers into the scheme.

The Head of Service said she was conversant with the Employee Compensation Act of 2010 and the enormous benefits the scheme can bring to the Government of Anambra State and her employees.

She said, “while I served as the Deputy Clerk of the Anambra State House of Assembly in 2017, I engineered a private member bill, through my representative, on Employee Compensation Scheme, for possible adoption by the State Government, but that it did not see the light of day.

“With my current position as the Head of Service, I believe a great opportunity is here for me to liaise with other necessary offices in

the state government towards the implementation of this laudable scheme.”

She promised to liaise with the state’s Accountant General and other relevant officers of the state government in a joint push, to actualise the programme.

Earlier while welcoming the NSITF team led by the Acting Manager of the Awka Branch, Mr. Okpala Chibikem, said Governor Soludo’s vision of Dubai-Taiwan would receive a big boost with the enrolment of workers into Employee Compensation Scheme. According to him, “the ECA 2010 is aimed at providing guaranteed and adequate compensation to registered employees in the event of death, injury, disability or diseases arising from work or in the course of work, at the place of work or outside of it.”

“It also provides compensation to the next of kin of an employee who may die at work or in the course of work,” noting that, “the one per cent of the workers’ emoluments to be paid as contribution by the state government is not deductible from workers’ salaries as the state government by ECA 2010 should shoulder the responsibility.”

Okpala was accompanied by Peter-maximus Onunkwo, the branch’s head of legal unit as well as Okey Ndubisi.

Similarly, the Chief of Staff to the Abia State Government, Ajagba Chukwurah, assured that the new administration in the state would deploy employee compensation as one of the tools to lift the lots of Abia workers.

Ajagba, who alongside the Senior Special Assistant to Governor Alex Otti on Commerce

Agba: Why Benin-Auchi-Okene-Obajana Road Project Remains Uncompleted 15 Years After

The immediate past Minister of State for Budget and National Planning, Prince Clem Agba, has explained why the Benin-AuchiOkene-Obajana Road has yet to be completed.

Agba spoke on the road project while sharing his thoughts with audience at the grand reception and dinner night organised in his honour by the Edo State Council of the Nigeria Union of Journalists (NUJ) in Benin City.

He said insufficient funds were responsible for the non-completion of the road, 15 years after the contracts for the four sections of the road were awarded to the respective contractors.

According to him, budgetary provisions had always been spread thin on projects that were usually inserted in the budget by the National Assembly such that money budgeted could not accomplish the projects.

He said: “With the national budget, there had been a lot of challenges. Yes, there had been improvements in terms of the cycle, but particularly as a person, I am not very happy with the content because we seem to spread ourselves so thin that we don’t have enough to do work.

“I hear people say that the National Assembly pads the budget.

I wish they pad the budget because what they are doing is un-padding the budget. If they pad the budget, that means they are putting more money in it, right? And, so, you have more money to work? Right? But what they are doing is that they are removing from what have been provided and then creating other projects, making us spread too thin, and not having enough money to work.

“This is one of the things that had affected the Benin-Auchi-OkeneObajana road, which started 15 years ago. Have I been a minister for 15 years? I was only minister for three and a half years, yet I was the cause of the problem on that road because I tried to offer a solution.

“I found out that the problem of that road was insufficient funding, and each time budgetary provisions are made, our representatives from the State do not protect what is there. So, when the budget comes back, the amounts are lower and insufficient to do the work.

“We started with trying to use SUKUK funding, which is the Islamic interest-free loan to do it. But with that we had to spread the amount across the country and I realized we moved very fast with the second Niger Bridge; we moved very fast with the Lagos-Ibadan expressway and we also moved

very fast with the Kano-Kaduna road."

Agba told the audience that there was a presidential infrastructure development fund and the sovereign wealth fund that was making contribution into the fund and all the funds that were returned from corruption issues like the Abacha loot were going into these three projects.

According to him: “That was how we were able to practically complete the projects. I thought that was one of the things we needed to do to fast track the work on the Benin-Auchi-Okene-Obajana road where there are three sections by three contractors that have been on the road for the last fifteen years.

“So, I approached my colleague, the minister of Works, on the need for us to use the tax credits and we spoke to the Chairman of the FIRS and he started working with the NNPC Ltd on this. But the NNPC Ltd report, I must say, did not include that road. So, it was a big battle for me, fighting to ensure that Edo State was included.

“I want to especially thank my two colleagues and brothers (Mr. Sunday Dare and Prince Goddy Jeddy Agba) that are here because they joined me in that fight and in the lobby to get funding for it. In the end, each section got an approval

of N25 billion, which means N75 billion, and I was also able to get another N10 billion in budget 2023 for two sections.”

Agba continued: “So, it means the issue of funding has been taken care of largely with N85 billion available, However, that is the much I could do. This is where my pitch would take me to. I am not the one responsible for operations. So, it had to go to the Ministry of Works. As you know, contractors had already been awarded the road contracts, and they refused to go back to the road until their rates are changed due to inflation and other things that are happening.

“There is a process for doing this. If the augmented rate is above 15 per cent, it must go to the president for approval to come to FEC. I found out very late that the letter did not get to the president. It was still kept in the Chief of Staff’s office, and very late, he sent a letter to my sister, Minister of Finance, Hajia Zainab.

“I was in London when I got a copy of that. I did the response in London, did electronic signature, sent it to my Secretary to print and send it to the Chef of Staff, just to ensure that we were able to get it to the FEC. This was just two weeks before we left. But it did not happen.

and Industry, Nwaka Inem, met the team of the Umuahia Branch of the NSITF, and commended the federal government for establishing the scheme. But he noted that a lot needed to be done to sensitise the public on its benefits.

In his presentation, the Manager of the Umuahia Branch of the Fund, Uzoafia Ulari, said the NSITF was making steady progress in the enrolment of private business in the state and urged

the state government to avail its workers the benefits that NSITF provides by registering them.

He further stated that the family of a deceased doctor at the Federal Medical Centre Umuahia, who died in the course of work, is currently receiving death benefits from the NSITF, amidst other residents of the state who benefit from either medical expenses, disability or retirement compensations.

Gov. Eno: Agriculture Solution to Fuel Subsidy

Okon Bassey in Uyo

Akwa Ibom State Governor, Mr. Umo Eno, has called for increased participation in agriculture ventures as a permanent remedy to the fuel subsidy removal.

The governor urged residents in the state to embrace agricultural revolution championed by the A.R.I.S.E Agenda blueprint of his administration by returning to the farms, saying it remains a panacea to the prevailing hardship occasioned by fuel subsidy removal.

Eno, spoke during the September edition of the monthly Covenant Service held at Uyo, at the weekend.

The governor said he was not leading a communist state where citizens depend on handouts from government for survival and encouraged residents of the state to resort to agriculture at various scales to increase availability of food for all.

He explained that his administration had taken steps to reduce the cost of governance by cutting on excesses and ploughed back the proceeds into the society to address the enormous intervention needs it was facing.

He said, in addition to the 7200 bags of rice and N2 billion received from the federal government, the state government acquired 100,000 more bags of rice at a unit cost of N40,000.

He, said each of the 2,772 villages in the state would get 40 bags and announced that the state government had also released N2 billion for settlement of gratuities of retired local and state governments employees.

He said primary and secondary school students would get free

Removal

exercise books, students of the state origin in tertiary institutions are to be paid a N10,000 bursary, civil servants would receive N10,000 non-taxable allowances for three months while operators of informal sectors like transporters and traders will operate ticket-free on all Fridays within the next three months.

Eno, stressed that such palliative interventions could only proffer temporary solutions, saying it cannot be sustained for a long time and encouraged young people to channel their energies into the agricultural ventures promoted by the state government and shun restiveness and public disturbances.

"Times are hard, but the question is how long will we continue on palliatives? The answer is how can we help ourselves.

"We have green land everywhere and we have good weather. The best answer is for us to go back to work. Let's go back to agriculture. This is not a communist country where you wake up and there's milk in front of your house.

"Agric business is a serious business. Our young people have to get involved. That is what will help us. All these interventions cannot really help us for too long.

"If you collect rice today, you'll finish it. Will you keep coming back and wait on government for another? Truth be told, we cannot continue like that," he stated.

In the new agriculture drive, Eno said local governments were expected to donate 50 to 100 hectares of land for the state government to engage people, provide seedlings and other input with readiness to offtake the proceeds.

L-R: Past President, Institute of Public Analysts of Nigeria (IPAN), Mr. Balogun Ayodele Sanni; Representative of Director, Food and Drugs, Federal Ministry of Health (FMOH), Abuja, Mrs. Omolara Oderinde; IPAN Registrar/CEO, Mr. Aliyu A. Angara; General Secretary, Society of Testing Laboratory Analysts of Nigeria (SOTLAN),Mr. Nureni Bashiru; Fellow, IPAN,Dr. Iyabo Phillips, at the unveiling and presentation ceremony of Practice Licence Stamp (PLS) for Public Analysts held in Yaba, Lagos ... recently ETOP UKUTT

APC GUBERNATORIAL CAMPAIGN IN LOKOJA...

Flawed Polls, Compromised Judiciary Fertile Grounds for Military Intervention, CSO Warns

Says coups endangering democracy in Africa, lessons for Nigeria

Chuks Okocha in Abuja

A coalition of pro-democracy groups, the United Action Front of Civil Society, yesterday, warned that flawed elections and compromised judiciary, had become fertile grounds for military interventions in Africa’s democracies.

Bemoaning the recent spate of military coups in countries across sub-saharan Africa, the group said while military coups were antithetical to popular aspirations that heralded pro-democracy movements in the 80s and the 90s, birthing democratic governments across Africa, military rule has never been a viable alternative.

A statement by the Head, National Coordinating Centre, United Action Front of Civil Society, Wale Okunniyi, stated that flawed elections and compromised judiciary could not be an acceptable standard to the citizens and civil society of any country, arguing that recent developments were both a lesson for Nigeria and endangering democracy in Africa.

"The recent coup in Gabon, coming after the recent military intervention in Niger Republic signposts a worrisome trajectory of uncertainties for the future of democracy in Africa and the likelihood of instability in Africa.

"It is regrettable that the

Edu: 8.3m Nigerians in Borno, Adamawa, Yobe in Dire Humanitarian Need

Kuni Tyessi in Abuja

The Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu,has lamented that out of the 16 million Nigerians affected by the humanitarian crisis, three states of Borno, Adamawa, and Yobe were the worst hit, with about 8.3 million of the people in dire straits.

Speaking in Abuja, weekend, she said over 16 million Nigerians were affected by humanitarian crises either man-made or natural disaster with over 8.3m of them based in Borno, Adamawa, Yobe, and several states in the North Central and others spread across the country.

“The UN said Benue had become the humanitarian need capital in Nigeria, and as such, a lot of work needs to be done in the humanitarian angle,” she lamented.

The minister maintained that, “One of the agendas of the Tinubu administration is to ensure that poverty is alliviated in Nigeria in line with the SDG goal one.The president is coming up with a very robust programme to alleviate Nigerians from poverty.”

Edu stressed that poverty alleviation was now the new and important mandate of her ministry “as our work is to see how we can get those in poverty out of poverty and those at the verge of getting into poverty increase to social safety to protect them from falling into poverty.

“A lot of work is being put into the planning stage as we have finished the debriefing from the different departments as well as the agencies under us. We are working assiduously to finalise the plans.

“In a couple of weeks, we’ll be fully launching into this plans to help President Tinubu take out over 136m Nigerians out of poverty as implementation has started to help cushion the effect of the fuel subsidy removal.”

The minister described the poverty alleviation schemes of her ministry as robust plans to create jobs, promote means of livelihood, shelter, education, healthcare, and other basic needs as well as agriculture to help end hunger.

“One of the innovations we are bringing in to ensure Conditional Cash Transfer transparency is to carry out a thorough verification of the social register, validate it, and then expand it to accommodate more persons.

“We will be working with the World Bank while seeking approval from the President to begin the Conditional Cash Transfer to Nigerians.

“We want to increase the Social Safety Net for Nigerians to enable us to pull millions of Nigerians out of poverty in a transparent manner as well as count the numbers together just as we counted Covid-19 cases using a digitalised system,” she further said.

emerging incidents of these military interventions all over enjoy popular acclamation from citizens, who should naturally be defending democracy.

“The situation in Gabon as well as Niger speaks to the frustration occasioned by flagrant manipulation of electoral process by the political class as well as the compromise of the judiciary.

"Democracy appears endangered in Africa, if military coups are perceived as alternative to reckless civil rule by the citizens, whose hope in the sanctity of the elections and the judiciary have been dashed," the coalition stated.

The group "unequivocally wishes to emphasise that this unfortunate

scenario underscores the depth of the failings of political actors, who stage civilian coups against democracy in their countries by undermining democratic institutions, manipulating the electoral process and arm-twisting the judicial system. "United Action Front of Civil Society can therefore not overemphasise that the antidote to military intervention in Africa is genuine commitment to the democratisation processes, which entails unalloyed commitment to internal workings of institutions of democracy and more importantly the independence of the electoral umpires as well as the judiciary."

The coalition reiterated that those who undermined democratic process

in Africa and abused the oath of their offices were only unwittingly setting the stage for a repeat of military intervention.

Accordingly, the coalition cautioned that democratic institutions and particularly, the electoral body, must be accorded freedom and independence to conduct free and fair elections without hindrances or undue pressure.

It contended that a rigged election would only provide a pathway to military coups such as the recent ones in Niger and Gabon and therefore demanded greater responsibility and sincerity from electoral umpires and the judiciary to safeguard democracy.

Consequently, it "warned that failure by the Nigerian judiciary to satisfactorily address grievances arising from flawed electoral processes across the country might be providing incentive for military forces, which would be a huge setback and disservice to Democracy and the civil society, which are supposed to guarantee the peace and general wellbeing of the country.

"To this end, the Nigerian political class is hereby enjoined to draw a lesson from military interventions in Niger, Gabon and other West African Countries and immediately put its acts together before it's too late as the situation in the country is tense and the signs are ominous."

Opposition Protests as PDP Wins All 18 LGAs in Edo

Victory is sign of party’s dominance, says Obaseki

Adibe Emenyonu in Benin City

Amid protest by opposition parties, the ruling Peoples Democratic Party (PDP) in Edo State, weekend, won all the 18 local government council areas, where elections were conducted by the Edo State Independent Electoral Commission (EDSIEC).

The state electoral commission, led by retired Justice James Oyomire, declaredthe results, saying the PDP emerged victorious in all 18 Local Government Areas of the state.

But Governor Godwin Obaseki, has said the performance of the PDP in Saturday’s council election was a proof of the party’s dominance, adding that the outcome also reflected the wish of the majority of Edo people.

Seven political parties had initially registered to participate in the elections, but four parties, namely, the Action Alliance (AA), Allied Peoples Movement (APM), Accord (A) and African Democratic Congress (ADC), later collapsed their structures for the PDP.

Announcing their withdrawal from the elections at a press conference Friday morning, the parties cited the need to support Obaseki to enable him deliver democratic dividends to the people for stepping aside from the election, as reason for their actions.

The communique was signed by Hon. Osaro Uwaifo, Action Alliance (AA); Hon. Omorogbe Joseph, Accord (A); Hon. Charles Ogieriakhi, Allied Peopie’s Movement (APM) and Hon. Frank Osifo Africa Democratic

Congress (ADC).

The three parties that eventually participated in the Council elections were the ruling PDP, the All Progressives Congress (APC) and the Labour Party (LP).

But the APC and the LP had protested the conduct of the elections.

Chairman of the APC, David Imuse, described the elections as scam.

He said, “This election is a scam, it is a charade. They brought insufficient ballot papers but no single result sheet. How can you conduct an election when there is no result sheet?

"It is happening right in the entire Edo central senatorial district. I am calling from Ekpoma, the same thing is happening in Esan North East, Esan West, everywhere here, no result sheets and I don’t see how an election can take place without result sheets.”

The Labour Party staged a protest against the elections, with the three candidates of the Benin municipal councils, namely, Egor, Ikpoba-Okha and Oredo announcing their withdrawal from the elections.

The protesters, who stormed the state secretariat of the Nigeria Union of Journalists (NUJ), comprised members of the party in Oredo and Ikpoba Okha Local Government Areas.

They called for the cancelation of the elections, which they described as scam, even as they announced their decision to pull out of the election, alleging irregularities.

According to them, the Edo State

Independent Electoral Commission (EDSIEC) did not live up to its promise to conduct free, fair and credible elections.

At the same time, the national chairman of the Labour Party, Julius Abure, hasalso condemned the election, describing it as another sad testimony of how a state government could descend so low in attempting to rubbish the gains of democracy.

A statement issued by the National Publicity Secretary, Obiora Ifoh, quoting Abure, stated that democracy could only succeed when the authorities allow the votes of the people to count and the choice of the voters respected.

"Reports from our agents across most of the polling units in the state confirmed that there were deliberate effort by the EDSIEC to frustrate voters by ensuring that the electoral officers either came late to the polling units or didn't show up at all.

"In few places where the election held, insufficient ballot papers were brought with no single result sheet. But at the end of the day, results were churned out with the candidates of the People's Democratic Party returning elected."

But Obaseki, has said PDP’s performance showed the party’s dominance, andthat the outcome reflected the wish of the majority of Edo people.

Obaseki spoke to journalists at the Diocese of Benin (Anglican Communion), St. Peter's Anglican Church, during the 15th memorial

thanksgiving service of his father, late Pa Roland Oni Obaseki

The governor was in with company the Secretary to Edo State Government, Osarodion Ogie Esq and Oredo Local Government chairman-elect, Dr. Tom Obaseki, among other top government functionaries.

Elated about the outcome of the elections, Obaseki said Edo people were democratically mature as there was no single violence recorded during the electioneering process.

“We have a situation room where we monitored the election process across the State and want to thank the people. You can see that we are democratically mature in Edo State, in terms of the way the election was conducted.

“I was surprised at the diligence of the Edo State Independent Electoral Commission (EDSIEC). I went round and saw the number of polling units mounted by EDSIEC and the various electoral officers in the three metropolitan local government areas and it was quite impressive.

“The turnout was fair as expected and it shows that we can conduct elections without disrupting economic and social activities.

“The people voted and went about their various activities for the weekend. Overall, I believe we have done well. It was a free and fair election. The mass participation and dominance of PDP as a party in the State was clearly exhibited in this election.”

L-R: National Secretary of APC, Senator Basiru Ajibola; APC Deputy National Chairman (North), Alh. Ali Dolari; National Chairman, APC, Dr. Abdullahi Ganduje; Deputy National Chairman (South), Mr. Emma Eneukwu and APC, Deputy Financial Secretary: Hamma-Adama Kumo, at the Inauguration of Kogi State APC National Governorship Campaign Council in Lokoja, at the Weekend

INAUGURATION OF LEKKI PORT SCANNING FACILITY...

Subsidy: Gombe Govt Approves N10,000 Increment in Workers’ Salary

The Gombe State Government, has announced an increment in workers’ salary by N10,000 across board to cushion the effect of fuel subsidy removal.

Briefing newsmen in Gombe, yesterday, the Deputy Governor, Dr. Manassah Daniel Jatau, said it was part of the measures taken by Governor Muhammadu Inuwa Yahaya to reduce the economic impact of the subsidy removal on

workers.

He said Yahaya was concerned about the welfare of civil servants and residents of the state through various interventions since the COVID-19 pandemic. He said since the fuel subsidy

Group Commends Gov. Mbah on Enugu Investment Roundtable, Says State on Course to $30bn Economy

A civil society organisation, the Enugu Good Governance Group, E-3G, has commended the governor of Enugu State, Dr. Peter Mbah, on the successful hosting of the inaugural Enugu State Investment and Economic Growth Stakeholders Roundtable, saying it was an indication that the state was on course to a $30 billion economy in the next four to eight years.

Recall that the event, which the governor described as one of the roundtables in preparation for the first fully transactional Enugu State Diaspora and Investment Summit scheduled for April 2024, held in Enugu at the weekend, drawing participants from the diplomatic

community, major development financiers and partners, domestic financial institutions as well as domestic and international investors, among others.

Notable among the participants were the British Deputy High Commissioner to Nigeria, Jonny Baxter; World Bank Nigeria Country Director for Nigeria, Shubham Chaudhuri; the Regional Chief Operating Officer, African ExportImport Bank, (AfriExim), Eric Itong; Chief Economist and Vice President of the African Development Bank (AfDB), Kevin Urama; Deputy Director, Investment, the United Kingdom Department for Business and Trade, Morayo Adekunle, and

Lagbaja Charges Troops to Sustain Onslaught against Terrorists in North East

Kingsley

The Chief of Army Staff (COAS), Lt Gen Taoreed Lagbaja, weekend, charged troops to sustain the onslaught against the insurgents and restore sanity in the Lake Chad region and northern Borno State.

Lagbaja urged the troops to be resolute and not rest on their oars as the war against terrorism and insurgency raged.

Lagbaja also laid a wreath in honour of officers and soldiers, who paid the supreme price fighting terrorism and insurgency in defence of Nigeria.

The COAS laid the wreath at a Heroes Cenotaph in the northern Borno town, Mongunu, the Headquarters Sector 3 Joint Task Force North East Operation Hadin Kai as he continued his operational tour of the North East theatre of Operations.

Addressing combined troops of Sector 3 and the Hybrid Force, Lagbaja pointed out the significance of paying tribute and laying wreath in memory and honour of gallant officers and soldiers, who paid

the supreme price to defend and extricate the North-east from the strangulating hold of ISWAP/ Boko Haram terrorists.

He assured the troops that "the transformation currently sweeping through the Nigerian Army in terms of proficient training, adequate equipment and welfare, will leave no Army formation or unit untouched."

He added that amenities in army cantonments and barracks would be revolutionised to bring succour to personnel and their families.

He charged them to sustain the onslaught against the insurgents and restore sanity in the Lake Chad region and northern Borno, urging the troops to remain resolute.

Earlier, the Commander Sector

3 JTF NE Operation Hadin Kai, Brigadier General W Dangana, briefed the COAS on ongoing Operations Desert/ Lake Sanity ll, as well as Operation Harbin Zuma to clear the insurgents from the Tumbuns (Islands) and the Lake Chad basin, a statement signed by Army Spokesman, Brig-Gen Onyema Nwachukwu, stated.

Chief Executive Officer, Infrastructure Credit Guarantee Company, Chinua Azubuike.

Appraising the initiative on Sunday, the Enugu Good Governance Group (E-3G) in a statement by its National Coordinator, Comrade Odinaka Okechukwu, said Dr. Mbah was “walking the talk on making Enugu State the preferred destination for investment, business, tourism, and living”.

“The successful hosting of the Investment Roundtable, the profile of participants, quality of the panellists and discussions, and the explicit commitments made by highly consequential global economic powers like the United Kingdom (UK), development funders, development partners, domestic and international investors, and leading members of corporate Nigeria to the economic growth of Enugu State is an indication of the Mbah administration’s promise to grow the state’s economy sevenfold from $4.4 billion to $30 billion is doable and on course.

“We are equally inclined to believe that with the zeal, focus, and painstaking efforts to radically improve on the state’s ease of doing business indices, including the daily improvements on the security of lives and property, the $2.1 billion worth 30 projects already curated will ultimately be oversubscribed at the Enugu State Diaspora and Investment Summit scheduled for the second quarter of next year”, they group stated.

The E-3G equally expressed delight at the nature of projects and investment opportunities being promoted by the state government, describing them as people oriented.

“Importantly, it is also heartwarming that the projects and investment opportunities being promoted will have direct positive impact on the lives of the ordinary man and the rural economy in the areas of healthcare, housing, digital skills, employment, and socio-economic infrastructure, among others”, the group concluded.

removal, the state government had taken measures towards cushioning its effects on citizens of the state by distributing palliatives to 30,000 beneficiaries with the target of reaching out to 420 000 across the state.

According to him, the N10,000 was for both the state and the local government workers, and would take effect from August, 2023.

"We have also noted with sympathy the difficulties workers are passing through as a result of the economic meltdown and therefore

decided to bring interventions by way of payment of N10,000 each on a monthly basis, effective from the month of August, 2023. This shall include all workers in the state and local government payrolls,” he said.

Asked how long the increment would last, he said the “N10, 000 does not have a time limit for now."

The deputy governor commended the contributions of the workers in the state, describing it as the engine room of the administration and implementation

of government policies. He urged the workers to reciprocate this gesture by being law-abiding and supporting policies and programmes of the government while urging residents, who were yet to benefit from the palliatives to be patient.

“I call on all residents of the state especially those who are yet to benefit from the palliatives to be patient as we shall continue to consider bringing more interventions in the nearest future within available resources,” he said.

NDLEA Intercepts Ephedrine, Skunk, Laughing Gas Consignments at Lagos Airport

Michael Olugbode in Abuja

Operatives of the National Drug Law Enforcement Agency (NDLEA), have intercepted various quantities of ephedrine, skunk and nitrous oxide, popularly known as laughing gas concealed in semovita packs and dry pepper being shipped to South Africa and Kenya through the Murtala Muhammed International Airport, Lagos.

The drugs were being transported by members of Transnational Drug Trafficking Organizations (DTO), some of who were promptly arrested, their mansions raided and their luxury vehicles seized.

A statement on yesterday by spokesman of the anti-narcotics agency, Femi Babafemi, read that through credible intelligence, NDLEA operatives last Friday intercepted a notorious drug trafficker, Suleiman Oba, who was a member of a cartel distributing cocaine, heroin, methamphetamine and

ephedrine between Nigeria, Brazil, Ghana, South Africa, Mozambique, and Europe.

According to Babafemi, Oba was arrested while attempting to board a Rwanda Air flight to South Africa with two boxes loaded with ephedrine sealed in semovita packs. He said the recovered substance was a precursor chemical and active ingredient in the production of methamphetamine.

He disclosed that Suleiman, who held a South African passport and married to a South African woman and had lived there for over 20 years, in his statement, identified Hakeem Salami, who equally lived in Lagos and South Africa as the head of the drug ring.

Babafemi said a follow-up raid in the house of Salami located at 75 Wosilatu Dawodu Street, Ijesha, Aguda, Surulere area of Lagos State last Monday revealed that he had fled the country on the same day Suleiman was arrested.

The spokesman, however, said a white Toyota Venza car with registration number LSR 410 HT, a Mercedes Benz SUV marked LSD 998HP, phones and vital documents needed for further investigation were recovered from the house.

Babafemi recalled that in August 2021, the agency had seized 25.6 kilogrammes ephedrine from a trafficker, Arua Onwuka at the Lagos airport, a seizure that has also been traced to the same cartel whose identified members are currently on the run.

He revealed that an official of the airport, Godwin Shedrack (a.k.a Goddy) fingered as a member of the syndicate was also under investigation. In the same vein, attempt by another syndicate to export 10.4 kilogrammes skunk concealed with scent leaf and pepper, going to Nairobi, Kenya, was equally thwarted by NDLEA operatives attached to the NAHCO export shed of the airport on Saturday 26th August.

MAIKYAU: WHY COLLEAGUES ARE AGAINST MY LEADERSHIP

Olumide Apkata of fraud over the launch of the NBA portal.

He was said to have made the allegations in response to allegations of nepotism and breaching of protocol in the appointment of his nephew as IT Manager of the NBA portal.

A clearer picture of the entire scenario, however, played out during the body's AGM, with the 2nd, 3rd vice-presidents and the NBA's national treasurer taking turns to accuse Maikyau of not carrying them along in the running of the affairs of the association.

The 2nd Vice President, Mr. Chukwuemeka Ugo, while presenting his annual report to lawyers, accused Maikyau of not carrying him along, sidelining his office and undermining his constitutional duties.

He said, "I have not been carried along in everything the president is doing,” just as he called on the AGM to look into his plight and empower him to function the way he ought to, adding also that, "if the President and 1st Vice President are not available, I am to represent this Association and I can’t represent the Association adequately if I am not carried along on events.”

Similarly, the 3rd Vice President, Mandy Asagba, also accused the NBA President of disregard to her office, with the aim of making the office redundant.

Asagba, in an emotion-laden voice, narrated how the NBA president had allegedly disrespected and sabotaged her office.

According to her, "The Whole

Annual General Meeting and AGC was done without the knowledge of National Officers.”

On her part, the NBA National Treasurer, Caroline Anze-Bishop, disowned the financial statement as not coming from her and accused the NBA President of sidelining her office.

Anze-Bishop also narrated how she was never consulted or involved in the preparation of treasurer’s report and accordingly refused to adopt it.

“The report was put together, arrived at without my singular involvement, without consultation with my office. I am not going to disrespect and stand here and give a report that did not originate from me. I respect you too much to do that," she had said.

Nwezeh in Abuja

Segun Awofadeji in Bauchi

L-R: Chief Operating Officer, Lekki Port, Laurence Smith; Chief Executive Officer, Lekki Port, Du Ruogang; Customs Area Comptroller, Nigeria Customs Service, Lagos Free Zone Command, Dorothy Omogbehin; and Chief Executive Officer, Lekki Freeport Terminal, Yann Magarian during the commissioning of Lekki Port’s scanning facility at Lekki Deep Sea Port, Lagos Free Zone, Ibeju Lekki in Lagos… yesterday

FOCUS

EBENEZER ONYEAGWU: Elevating Retail Banking at Zenith

As part of efforts to expand its reach in the retail segment of the bank sector, Zenith Bank Plc under the leadership of Mr. Ebenezer Onyeagwu, recently introduced another season of its savings promo. The bank which remains a clear leader in the digital space with several firsts in deploying innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions, has been making significant foray in the retail banking space since Onyeagwu was appointed. This is evidenced by the remarkable growth in transaction volumes and value across its digital platforms and strong growth in customer acquisition.

That was why in order to entrench itself in the retail segment of the market, Zenith Bank recently re-introduced its Zenith Bank Beta Life Promo Season 3.

The Zenith Bank Beta Life Promo Season 3 is a bi-weekly raffle promo wherein the bank offers gifts worth N150,000 each to 20 customers from June 1, 2023 to May 31, 2024. The raffle draws hold on second and fourth Friday of each month.

To qualify, one is expected to open a Zenith Bank account; fund the account with a minimum of N5,000 for the period; request and collect a Zenith Bank Debit Card (virtual or physical), and download and register on the Zenith Bank MobileApp or register for *966# EazyBanking.

Rewards would be allocated to the winning accounts chosen via raffle draw by the bank’s computer programme designed specifically for the purpose of the promotion. The random selection and allocation of prizes to the respective winning customers would be verified by external auditors. Customers must maintain an active account with N5,000, get a card and register for USSD or download the mobile app to become a winner.

“If you do not have a current or savings account with us, or have a dormant or zero balance account, this is the best time to open an account, fund or reactivate your account to win exciting rewards every week. Rewards will be allocated to the winning accounts chosen via raffle draw by our computer program designed specifically for the purpose of the Promotion.

“The random selection and allocation of Prizes to the respective Winning Customers will be verified by external auditors. Customers must maintain an active account with N5000, get a card and register for USSD or download the mobile app to become a winner. You can open an account by just dialing *966# on your phone and following the prompts, or you can open an account on our website,” the bank stated.

Indeed, one of the best ways for individuals to take charge of their finances in today’s uncertain economy is to develop a healthy savings culture. Although seemingly, not a priority early in life, experts believe everyone (especially young people) should make it a priority to save and invest early, as being encouraged by Zenith Bank through the promo.

The savings promo initiative was one out of the numerous initiatives introduced by Onyeagwu, to ensure the financial institution retains its leadership position in the industry.

Inspiring in silence and action, Onyeagwu is a sure-footed leader of men with a sense of corporate clairvoyance. He makes today’s Zenith Bank ticks, illustrated by the bank’s financial performance, agile organisation, enduring conducive corporate culture and cordial stakeholders’ relations. Since assuming the Zenith Bank’s mantle of leader on June 1, 2019, Onyeagwu’s myriad of exploits have solidified his sterling leadership qualities which reflects in the numerous domestic and international awards the bank has won.

For instance, few weeks ago, it was double honours for Zenith Bank Plc at the London Stock Exchange (LSE) as the bank was named the Best Commercial Bank in Nigeria for the third year running and Best Corporate Governance Bank, Nigeria, for a second consecutive year at the World Finance Awards 2023. The awards

were presented to the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, at the LSE. The recognitions celebrated the bank’s tremendous feats and milestones in financial performance, financial inclusion, corporate governance, and sustainability.

Commenting on the awards, Onyeagwu had said they were testament to Zenith Bank’s resilience and ability to adapt to the vagaries of the market as well as its innate capability to engender very stellar business performances through its innovative products and solutions.

“It also affirms our continued commitment to global best practices in corporate governance, sustainability and corporate social responsibility,” he added and dedicated the awards to the Founder and Group Chairman, Jim Ovia, and thanked him for his mentorship and for establishing the basis for a resilient

and highly successful institution.

He had also expressed gratitude to the board for their exceptional leadership, vision, and insight; to the staff for their unwavering commitment and dedication; and to the bank’s customers for making Zenith their preferred bank.

Beside the savings promo, Zenith Bank had also introduced an Artificial Intelligence (AI) powered Chatbot on WhatsApp named ZIVA (Zenith Intelligent Virtual Assistant), which enables customers to perform financial transactions and enjoy real-time customer service from their mobile phones.

With this solution, customers would be able to enroll by simply adding the bank’s verified WhatsApp mobile number 07040004422 on their mobile devices, agree to the legal terms of use and then initiate a conversation.

This product provides the convenience for the bank’s customers to interact and transact on a 24 hours basis on the encrypted WhatsApp platform, it added.

With the capability to respond to chats/queries anchored on the existing WhatsApp platform, customers would be able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and top up airtime. They would also be able to confirm cheques, pay bills, apply for loans, block their accounts, and request mini statements, amongst other banking services.

The launch of ZIVA was driven by the need for additional secured channels of communication with customers as part of efforts to deepen retail penetration.

Since the behavioural pattern of the modern customer dictates that they want to engage with brands over the channel

of their choice, it was really important for Zenith Bank to implement the solution in order to continue to create value for our teeming customers who incidentally were already using WhatsApp as a primary channel of communication.

The strategic objective of Zenith Bank includes a continuous improvement of its capacity to meet customers’ increasing and dynamic financial needs as well as sustain high quality growth through investments that impact the quality of service to our existing and potential customers, constant upgrade of its ICT infrastructure, unwavering investment in training and re-training of its people and regular reinforcing of its customer services delivery charter with regards to continually changing customer needs.

Since its establishment in May 1990, Zenith Bank has continued to blaze the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.

The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-ofthe-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cuttingedge technology to create products and services that anticipate and meet customers’ expectations; enable businesses to thrive and grow wealth for customers.

Zenith Bank Plc, founded by Ovia, in 1990, has since grown astronomically to become one of the leading financial institutions in Africa. Today, the Bank continues to thrive on the strong values, brand equity, corporate culture of professionalism and service excellence which are the foundations upon which the bank was built.

Additionally, Zenith Bank has clearly distinguished itself in the banking industry through superior quality service, unique customer experience, and sound financial indices. These have become part of its corporate culture to the extent that the bank is easily associated with the following attributes; Best-inclass customer experience, creativity, excellent financial performance, good asset quality, stable management, dedicated and highly skilled work-force, cutting-edge Information and Communication Technology, efficient and effective distribution channels.

The bank’s strategy of assessing and managing its impact on the industry forms an integral part of its strategic objective. Specifically, the bank considers how the present and future capital requirements will be met and managed in view of projected capital requirements based on its assessment and against the regulatory capital requirement.

Zenith Bank places high premium on the pivotal role of exceptional service delivery in its drive to consistently exceed expectations. The bank has in place a well-articulated strategy to not only meet and surpass customer expectation, but also ensure that plans are fine-tuned to address the changing taste and sophistication of its customers. The underlying philosophy is for the bank to remain at all times, a Customer-centric institution with a clear understanding of its market and environment.

The bank’s impressive growth pattern and performance over the years have earned it excellent ratings, recognitions and endorsement from local and international agencies and institutions.

Today, Zenith is undoubtedly one of Nigeria’s strongest financial services institutions and one of the country’s largest banks by market capitalisation, shareholders fund and profitability. The bank’s growth momentum has increased over time and impacted positively on its standing as a market leader. In essence, Zenith Bank continues to make remarkable success on the sustainability agenda which is at the heart of its strategic and business models.

Onyeagwu

“It also affirms our continued commitment to global best practices in corporate governance, sustainability and corporate social responsibility.”

Nosa Alekhuogie writes on Zenith Bank Plc’s initiative to expand its reach in the retail banking segment of the financial market

Kaigama: Leaders Must Strive to Alleviate Sufferings of Masses

Onyebuchi Ezigbo in Abuja

Catholic Achibishop of Abuja, Most Rev. Ignatius Kaigama, has admonished Nigerian leaders to show compassion and work towards alleviating the sufferings of the masses.

He said that true leadership is a call to serve the poor and the needy with compassion and justice, and to work towards a more equitable and

compassionate society. Kaigama, who made the charge yesterday during his Homily at the St. Josephine Bakhita’s Pastoral Area, Jikwoyi, Abuja, noted that current sufferings were caused by dishonesty, corruption that are now deeply entrenched in the country.

According to Kaigama, priests and those charged to preach should not preach a cheap Christianity of miracles, wealth or

Abia Averts Disaster, Pulls Down Defective Two-Storey Building in Umuahia

Emmanuel Ugwu-Nwogo in Umuahia

It took a swift move by Abia State Government to avert a potential disaster at the weekend when a two-storey building was pulled down in Umuahia, the capital city.

The defective building, which was located at No. 5 Akanu Ibiam Street and close to government house, was said to have started creaking, thereby sending warning signals that it could crumble any moment.

With the glaring warning signs, the occupants hurriedly packed their belongings and raised the alarm, which attracted

government quick response.

A rapid response team was assembled that comprised the Ministries of Lands and Housing; Power and Public Utilities; Works, as well as the Umuahia Capital Development Authority (UCDA).

The Nigerian Police Force, the Abia State Fire Service, the Enugu Electricity Distribution Company (EEDC), the Nigerian Institute of Town Planners and the Nigerian Society of Engineers, were also involved in the operation.

The Commissioner for Lands and Housing, Mr. Chaka Chukwumerije, told journalists that the state government intervened to save lives.

Falana Calls for Ogun LG Chairman’s Release from DSS Custody

Wale Igbintade

Human rights lawyer Mr. Femi Falana (SAN), has called for immediate release of the suspended Chairman of IjebuEast Local Government Area, Hon. Wale Adedayo, from the custody of the Department of State Services (DSS).

The DSS detained Adedayo for accusing the Ogun State Governor, Mr. Dapo Abiodun, of diverting statutory federal allocations due to the state’s local governments in the past two years.

But Falana, in a statement issued yesterday, urged the DSS to advise Abiodun to sue the suspended local government chairman if aggrieved.

The statement is titled

“SSS Should Release Mr. Wale Adedayo from Custody and Advise Governor Dapo Abiodun to Sue for Libel.”

The statement reads: “Last week, the Chairman of the Ijebu East Local Government, Ogun State, Mr. Wale Adedayo, accused the State Governor, Mr. Dapo Abiodun, of diverting the statutory allocations of the 20 local governments in the state.

“Shortly thereafter, the council boss was invited by the Ogun State Command of the State Security Service (SSS). However, when he turned up for the invitation on September 1, 2023, he was asked to respond to the petition submitted to the command by the state government.

Stakeholders Score Cutix High as Nwosu Retires from the Board

Stakeholders have scored Cutix Plc high for its successful operations in the country in the last 40 years despite the prevailing harsh economic conditions.

Cutix Plc is a Nigerian company that specialised in the production and distribution of electrical, automotive, and telecommunication wires, cables, and related products.

The stakeholders, including eminent sons and daughters of Anambra State as well as leading industrialists and politicians in the country, delivered their commendations at a reception organized in honour of retiring Chairman and Co-Founder of the Company, Ambassador Okwudili Nwosu, in Nnewi,

only preaching to please leaders. He said: “Even our civil leaders should be courageous like the young Jeremiah to identify

the challenges at various levels with every determination to address them at the roots.

“To say that our people

are suffering now is a gross understatement. This is brought about by the very deeply entrenched culture of

corruption and dishonesty at all levels including our national institutions across the different sectors.

Ex-Kogi Gov, Idris, Urges Electorate to Vote PDP Guber Candidate

Ibrahim Oyewale in Lokoja

Former Governor of Kogi State, Alhaji Ibrahim Idris, has urged the electorate in the state to vote massively for the governorship candidate of the Peoples Democratic Party (PDP), Senator Dino Melaye, in the November 11 election in the State. Idris made the call while

speaking during the Kogi East stakeholders’ meeting and the unveiling of Zonal Caretaker Party Committee to pilot the affairs of that party at Anyingba in Dekina Local Government Area of the state yesterday.

The state PDP leader noted that Senator Melaye is a sellable candidate, stressing that he has been so consistent with the PDP,

and no doubt that he will deliver dividends of democracy when voted for as the governor.

Idris described Melaye as a good ambassador of PDP at the National Assembly twice, noting that he had represented Kogi State well with unequal records and had a good political pedigree.

The ex-governor told the

electorate that the present scenario in the state could be likened to a man who has gotten married to two wives, adding that it is the man who is expected to know who is better out of the two. He, therefore, called on all critical stakeholders in Kogi East senatorial district to work hard and support Dino/Abibat’s ticket for governor in Kogi State.

Niger NUT Opposes Imposition of Levy for Printing of Promotion Letters

Laleye Dipo in Minna

The Niger State Wing of the Nigeria Union of Teachers (NUT), has rejected the levy imposed on primary school teachers in the state for the photocopying of their promotion letters.

The State Universal Basic

Education Board (SUBEB), had directed all primary school teachers were promoted recently to pay N300 each for the photocopy of the promotion notification letters, which the NUT described as “illegal.”

A statement that was made available to newsmen in Minna

at the weekend by the union directed teachers not to comply with the directive.

The statement, which was jointly signed by the Niger State Chairman of NUT, Mr. Akayago Adamu Mohammed, and the Principal Assistant Secretary General, Mr. Labaran Garba,

also asked for a refund to any teacher that has paid the levy.

“The leadership of the NUT in Niger State also frowned at this act and wishes to categorically state that the Niger State Wing is not aware, informed or have ever directed for such illegal collection.

NNPP Demands Accounts of over N1bn Raised from Sale of Forms

Gbenga SodeindeinAdoEkiti

The new leadership of the New Nigeria Peoples Party (NNPP) under Dr. Agbo Gilbert Major has conducted a thorough probe into the alleged mismanagement of over billion naira said to have been raised from the sale of forms

to aspirants between March 2022 and today.

A statement signed by the National Publicity Secretary of the party, Abdulsalam Abdulrasaq, and made available to THISDAY, stated that the resolution was reached at the end of its maiden meeting at the Abuja National Secretariat.

It said: “The meeting resolved to invite relevant security agencies to properly examine the accounts of the party with a view to demanding explanations from the party’s presidential candidate, the party’s chairman who left in March 2023, the sacked acting chairman, and the national secretary. This is

to restore the confidence of party members/candidates who came forward with their hard-earned money to purchase forms for election.

“The party queried the rationale for the location of the Situation Room to the presidential candidate’s personal residence.”

Adeleke Pledges God-driven Governance, Vows to Increase Democratic Dividends

Yinka Kolawole in Osogbo

Osun State Governor, Senator Ademola Adeleke, has reiterated his commitmen`t to serve the people with all his strength just as he vowed never to stop worshipping God.

The governor made the vow while participating at the 70th Anniversary Thanksgiving Service of the Gideon House of Prayer Church of the Sacred Order of the Cherubim and Seraphim, Joseph Lambo Area, Ebute-Meta, Lagos State.

Adeleke recounted his old days at Joseph Lambo area of Ebute meta, declaring that he can never be too busy to praise God in spite of his current position as a governor.

steadfastness of faith, forgiveness of sins, and love for humanity, called on Christians to be mindful of the second coming of Jesus

Christ, and prepare for the day of accountability before their God. The event was also attended by the Deputy Governor, Prince

Kola Adewusi, the Speaker and members of the Osun State House of Assembly, commissioners, and other important dignitaries.

Anambra State.

The Founder, Mr. Ajulu Uzodike, remarked that “my brother and friend had been with me all through the 40 years and I must admit that it has been an eventful and successful relationship.”

Uzodike, however, expressed the hope that Nwosu would continue to be part of the Cutix family.

Responding, the Co-Founder, Ambassador Nwosu expressed his happiness over the success story of the company, describing the founder as a brother and friend whose interest in the company is to contrive an avenue for all and sundry to create wealth through partnership.

He said: “As a governor, I govern with the fear of God. I focus on meeting the needs of the people. Those values of God-driven life I learnt from childhood were from here at Joseph Lambo.”

The governor vowed never to disappoint the people of his state in the discharge of his duty as the governor while praying that God will grant the church the grace to actualise its 5-year development plan sooner.

Earlier in his sermon, the Deputy Baba Aladura of the Church, His Eminence, Dr. Olusegun Demuren, lauded Senator Adeleke for his love for humanity and outstanding fear of God, which he attributed as the secret behind his monumental achievements as the governor in less than one year in office.

The cleric, who preached about

Appeal Court Sets Aside Pregnant Woman’s Conviction

Gbenga

Sodeinde in Ado Ekiti

A female convict at the Federal Correctional Centre, Ado Ekiti in Ekiti State has been freed from the imprisonment of four years alongside her baby, who was delivered at the correctional centre.

In a landmark judgment delivered by the Court of Appeal in Ado Ekiti on

August 31, 2023, the court set aside the judgment of the Federal High Court, Ado Ekiti, which convicted the woman to four years imprisonment for stealing.

The appellant was pregnant at the time the High Court verdict was delivered. She later delivered a baby in the correctional centre.

The First Lady of Ekiti

State, Dr. Olayemi Oyebanji, who was moved by the woman’s plight, took steps to ensure that the welfare of the newborn and the mother are prioritised. She also instructed her Gender Unit to ensure proper legal representation for the woman on appeal against the judgment of the High Court that convicted her.

Peseiro Accepts Pay-cut to Continue as Super Eagles Coach

Drops Musa, invites first timer Torunarigha, Boniface, others for São Tomé

Duro Ikhazuagbe

After weeks of uncertainty, Super Eagles’ Head Coach, Jose Santos Peseiro, has accepted a pay cut to remain on the senior Nigerian national team post. The Director of Communication of the Nigeria Football Federation (NFF), Ademola Olajire, confirmed yesterday that the Portuguese gaffer accepted the pay cut on his earlier terms that expired in June.

Although details of the new deal were not disclosed, Peseiro was on a monthly salary of $70,000 in the earlier contract that expired.

“As stipulated in the original contract, drawn in May 2022, the Portuguese has been handed the mandate to lead the Super Eagles to, in the minimum, the semi-finals of the 34th Africa Cup of Nations finals taking place in Cote d’Ivoire early next year,” a top football official confirmed to THISDAY yesterday.

In the new deal, the head coach has been saddled with

the additional responsibility of overseeing the Home-based Super Eagles who contest the biennial African Nations Championship (CHAN).

Peseiro who has already qualified Nigeria for the 2023 AFCON in Côte d’Ivoire with a game to spare, released his 23-man squad for the dead-rubber clash with São Tomé and Principe this weekend in Uyo. Super Eagles in June last year decimated São Tomé 10-0 in Agadir, Morocco.

Surprisingly, while many Nigerians were expecting the gaffer to use this AFCON 2023 game in Uyo try out fresh players, Peseiro insisted on his familiar legion of foreign-based Eagles.

Only team Captain, Ahmed Musa, is the missing link in the invited squad, which may have been as a result of pressure from Nigerian ball fans insisting that the Sivasspor’s forward in Turkish Super Lig has passed his prime.

In Musa’s absence, the on-field Captain, William Ekong, topped the list of invited players which also saw the return of defender Tyronne Ebuehi and Semi Ajayi.

The usual suspects in the midfield like Wilfred Ndidi and Frank Onyeka, and forwards Moses Simon, Victor Osimhen and Taiwo Awoniyi, among others are all listed for next weekend’s qualification series final-day encounter against Sao Tome and Principe.

First timers in the squad include; Belgium-based centre-back, Jordan Torunarigha and forwards Victor Boniface and Gift Orban Nigeria, on 12 points from their previous five matches, are already guaranteed a place in the finals, but must earn at least a point to be sure of topping the group ahead of second-placed Guinea Bissau, who are on 10 points and playing Sierra Leone at home in Bissau.

ALL THE INVITED PLAYERS:

Goalkeepers: Francis Uzoho

(Omonia FC, Cyprus); Olorunleke Ojo (Enyimba FC); Adebayo Adeleye (Hapoel Jerusalem, Israel)

Defenders: Olaoluwa Aina (Nottingham Forest, England); Tyronne Ebuehi (Empoli FC, Italy); Jordan Torunarigha (KAA Gent, Belgium); William Ekong (PAOK FC, Greece); Semi Ajayi (West Bromwich Albion, England); Calvin Bassey (Fulham FC, England); Jamilu Collins (Cardiff FC, Wales); Bruno Onyemaechi (Boavista FC, Midfielders:Portugal)Wilfred Ndidi (Leicester City, England); Raphael Onyedika (Club Brugge, Belgium); Joe Ayodele-Aribo (Southampton FC, England); Frank Onyeka (Brentford FC, England)

Forwards: Kelechi Iheanacho (Leicester City, England); Samuel Chukwueze (AC Milan, Italy); Moses Simon (FC Nantes, France); Ademola Lookman (Atalanta FC, Italy); Victor Osimhen (Napoli FC, Italy); Taiwo Awoniyi (Nottingham Forest, England); Gift Orban (KAA Gent, Belgium); Victor Boniface (Bayern Leverkusen, Germany)

Two Late Arsenal Goals

Wreak Man Utd at Emirates

Arsenal scored twice in stoppage

time to secure a dramatic 3-1 victory over Manchester United at Emirates Stadium.

In a chaotic finale to a largely scrappy game, United first thought they had snatched three points only to see Alejandro Garnacho's 88th-minute finish ruled out for offside by the video assistant referee (VAR) with the score 1-1.

The drama then switched to the other end in eight added minutes as Declan Rice's deflected shot gave Arsenal the lead before substitute Gabriel Jesus raced clear to wrap up the win as the stadium exploded in elation.

United had taken the lead in the 27th minute when Christian Eriksen's outstanding pass played in Marcus Rashford, who cut inside to send an unerring right-foot drive past Arsenal keeper Aaron Ramsdale.

The Gunners, who had already spurned a golden chance when the struggling Kai Havertz miskicked with the goal at his mercy, were level almost instantly when captain

Martin Odegaard was given too much space and sent an emphatic finish into the bottom corner.

In an encounter that rarely hit the heights despite lots of effort, Arsenal - who had seen a penalty over-turned by the VAR after referee Anthony Taylor originally ruled Havertz had been fouledmissed a glorious late opportunity when Bukayo Saka shot straight at Andre Onana.

United saw celebrations cut short with two minutes left when substitute Garnacho raced clear to score, but the VAR ruled he was just offside - opening the door for Arsenal to produce two devastating blows to pick all three points.

RESULTS

Cry’Palace 3-2 Wolves Liverpool 3-0 Aston Villa Arsenal 3-1 Man Utd

Salah on Target as Liverpool Brace up for More Bids from S’Arabia

Speculation over Mohamed Salah's future at Liverpool could intensify this week, but no-one is calmer than Jurgen Klopp about his star forward's future.

Klopp's side rejected a £150m bidfor the Egypt international from Saudi Pro League club Al-Ittihad last week, with the Reds insisting the 31-year-old is not for sale.

With the transfer window in Saudi Arabia not closing until Thursday, Liverpool are bracing themselves for more bids in the coming days.

But after watching him score one goal and play a part in the others as the Reds beat Aston Villa 3-0 in the Premier League

Enoh Identifies Three Key Areas to Drive Nigeria’s Sports Devt

Duro Ikhazuagbe

on Sunday, Klopp insists Salah is focused only on doing his best for the club.

"I never had any doubt about his commitment to this club," the German told Sky Sports.

"You can't imagine how much fuss the world has made but how calm we are with it. He is our player and wants to play here."

That belief in Salah's desire to remain at Liverpool appears to be felt in the dressing room.

Summer signing Dominik Szoboszlai, who scored his first goal for the club after just three minutes against Villa, said: "You know it is football, everyone is talking. We are really happy that he has stayed.

Nigeria’s Minister of Sports Development, Senator John Owan Enoh, has identified funding, trust and facilities as key areas he hopes to give attention to in his drive to turnaround the country’s sports sector.

Enoh who spoke at a parley with sports journalists in Lagos at the weekend, admitted that he has been saddled with one of the toughest jobs in the country, managing the sports sector.

“Mr President (Bola Ahmed Tinubu) wanted somebody who is committed; who has the passion; and who can provide the needed leadership and he found me worthy to do that,” began the former senator representing the Central

Senatorial District of Cross River State in the National Assembly. He listed funding, trust and facilities as major challenges in the Sports Ministry, stressing that he's bringing trust, a major ingredient needed to boost the confidence of investors and sponsors to help him in addressing these challenges.

"The problems are there but not insurmountable. I come to make a success of my assignment but I need everyone to help me in this direction. I need the media and all stakeholders to make my task light.

"Funding problem remains a challenge in the country. It is never enough. Even the little that is released, you have the trust deficiencies. But I bring transparency and openness to the

table, to help restore confidence and to provide the direction for sponsors to come in," pledged the politician who admits he’s both a farmer and teacher.

Enoh has hit the ground running the very first day he stepped into the sports sector. He is currently touring the facilities in the sports sector with the hope of having first hand knowledge of the enormity of the task before him. He has visited the 20-year-old MKO Abiola Stadium in Abuja as well as the 51-year-old National Stadium in Lagos.

“ I have gone round the Moshood Abiola Stadium in Abuja and the National Stadium in Lagos. I found hundreds of shops there at the Abuja stadium that have never been utilized a single day. I have

also seen the state of the terraces of the stadium in Lagos. I will wait for the report on these facilities to know which direction we are facing. I know the National Theatre in Lagos underwent massive refurbishment to be in its present state. The report will decide what we will do to the Lagos Stadium,” he noted.

The minister believes further that with proper harnessing of the potentials in sports, “the sector offers so much. It's has a huge potentials of increasing the country's GDP.”

Enoh who promised to meet with the leadership of the Nigeria Football Federation (NFF) this week, has assured stakeholders that he not to be a ‘Football Minister’ but minister for all the sports federations.

Declan Rice...hero of Arsenal’s comeback win against Manchester United last night at the Emirates Stadium

Jose Peseiro...has accepted pay cut to stay on the Super Eagles job

has his Francis Uzoho Leverkusen, German

MISSILE

Nyesom Wike to Detractors

“You must know politics. That today I am the FCT Minister is not what you can think. There are some APC chiefs that are not happy with it. Yes, some persons can play some funny politics, put my name there and say let his party think he is a member of this party. Though PDP put my name in Bayelsa gubernatorial council, they did not tell me. Look I am not a kid. You don't railroad me anyhow" –FCT Minister, Nyesom Wike, telling his political traducers.

Making Noise for Ali Bongo MAHMUDJEGA

VIEW FROM THE GALLERY

They are illegal, abominable and disruptive and we are angry and disturbed that they are happening in quick succession. But in one respect at least, military coups in Africa these days have shown a qualitative improvement over what they used to be in the 1960s to 1980s. That is, they are bloodless. A good indicator of that was when toppled President of Niger Mohammed Bazoum was able to get an op-ed article published in Washington Post. Days later, when Chadian President Mahamat Idris Deby visited Niamey, he was allowed to meet with Bazoum. And still later, we saw a video of Bazoum walking unsteadily out of the presidential lodge to his own home. The coupists allowed him to walk out because they said he signed a resignation letter. It was wise of Bazoum to have signed that letter, knowing it is illegal. I have not read the Constitution of Niger Republic but I believe it made no provision for resignation at gunpoint.

Bazoum said the soldiers cut off light, water and food supplies to his house and he ate only dry rice. That was mean of them, but it was still an improvement over 1974, when Seyni Kountche toppled President Diori Hamani, sent him to a detention camp deep inside the Sahara Desert, and kept him there in solitary confinement until he went blind. In signing an illegal resignation letter, Bazoum borrowed a leaf from former Adamawa State Deputy Governor Bala Ngilari, who was told in 2014 to write a resignation letter addressed to the State Assembly Speaker, or else he will be impeached alongside Governor Murtala Nyako. Knowing, as a lawyer, that such a letter should be addressed to the Governor, Ngilari handed in the letter, waited until the dust settled and then went to court. The court declared his resignation null and void and ordered him to take over from the Speaker following the governor’s impeachment.

After Bazoum, another sign of the improved quality of African coups came from Gabon. We saw a video of toppled President Ali Bongo, sitting in The Residence [as he himself described it], his hand trembling from a stroke he had four years ago. He complained, in English, which was unusual for a Francophone elite, that he was sitting there and nothing was happening, not knowing what was afoot, and that his wife and son were kept in other places. He then appealed to his “friends all over the world to make noise.” “Make noise,” he repeatedly said, in order to reverse the coup.

Compared to the noise made following

the overthrow of Bazoum, Ali Bongo must be disappointed that relatively shrill noise has been made over his own overthrow. One reason is that Gabon, which is just down the Atlantic coast from West Africa, is not a member of ECOWAS. Even though ECOWAS Chairman and President of Nigeria Bola Tinubu condemned the coup, he did not follow up with sanctions and threats to use force as he did in the case of Niger. African Union [AU] however condemned the coup and suspended Gabon from its councils. Gabonese soldiers do not appear to be feeling the heat like their Nigerien counterparts. They designated General Brice Oligui Nguema as Transitional President, carried him shoulderhigh in the streets and scheduled his swearing-in for this morning, September 4.

As a fan, not so much of Ali Bongo but of his father Omar Bongo, only because as a young reporter I saw him from a distance at the OAU Summit in Abuja in 1991, I want to make noise for Ali Bongo. Never mind that the Bongos did not ask for any noise to be made when the father took over from President Leon Mba in 1967. One probable reason why the noise for Bongo’s reinstatement is shrill is because, between his father and himself, they ruled Gabon for 56 years. Most citizens of Gabon were born within that time frame; few Gabonese ever knew any ruler whose name was not Bongo. Days before this coup, Ali Bongo had been declared winner of a presidential election for a third term in office. In Nigeria, as in most of Africa, “third term” is a very bad word indeed. I will not say why.

To call the coup in Gabon an “overthrow of democracy” is a bit of a stretch. In 1996 when Nigerian troops were trying to restore President Ahmed Tejan Kabbah to power in Sierra Leone, a man phoned during a BBC phone-in program and asked why President Dauda Jawara of Gambia was not restored to power after he was toppled in a coup in 1994. Kabbah’s ambassador to Nigeria Joe Blell, who was on the program, said, “You see, Dauda Jawara was in power for 33 years. You can hardly insist on his return.”

Among the factors that discredit civilian rule in the eyes of African citizens is too much longevity in power. When one person rules a country for decades, beyond constitutional term limits and with no end in sight to his rule, it is an invitation for others to resort to unconstitutional means to end his rule. One example was the late President Robert Mugabe. In 1980 when Zimbabwe was to hold its first independence elections, tertiary school students all over Nigeria staged noisy demonstrations in support of Mugabe’s ZANU-PF and against Joshua Nkomo, Bishop Abel Muzorewa, Reverend Ndabaningi Sithole and Ian Smith. Many years before Nelson Mandela came along, we regarded Mugabe as the top African nationalist hero. But by 2017 when he was toppled in a coup, we didn’t make noise, because he was in power for 37 years.

Some African rulers remained in power until they were completely senile. Mugabe was 95 in 2017 and almost senile. When President Hastings Kamuzu Banda of Malawi was toppled in a coup in 1994, he was 96, senile and did not even know he had been toppled. His “Official Hostess” Cecilia Kadzamira took him to another house. When Tunisia’s President Habib Bourguiba was toppled in 1987, he was 85 and senile. AFRICA magazine reported that he used to sleep for 15 hours a day. Right now, the oldest African ruler is Cameroon’s President Paul Biya, who is 90, senile, lives in Switzerland and has been in power since 1982. There was this video last year of Biya at a UN conference, and aides were whispering into his ears where he was.

Even when an African ruler is not senile, too long a stay in power damages his standing with his people. Examples included Dauda Jawara [33 years], Kenneth Kaunda [27 years], Hosni Mubarak [30 years], Biya [41 years], Burkina Faso’s Blaise Compaore [27 years], Teodoro Mbasogo of Equatorial

Guinea [44 years], Isaias Afwerki of Eritrea [32 years] and Paul Kagame [23 years]. Uganda’s Yoweri Museveni, who is 78, is still alert and intellectual but after 37 years in power, he hardly represents Ugandan democracy. Alassane Ouattara, who is 81, has ruled Ivory Coast non-stop for 14 years even though it took a combined French/rebel military action in 2010 to chase out Laurent Gbagbo with his sit-tight bid.

Not all long-serving African rulers ended up being discredited. How one leaves power is also important. In 1984 when Tanzanian President Mwalimu Julius Nyerere, after ruling for 22 years, served his Chama Cha Mapinduzi party with a year’s notice that he was retiring, Vice President Ali Hassan Mwinyi led party leaders to plead with him not to retire. Mwalimu firmly rejected the plea and ordered them to go and select a successor. Within an hour they chose Mwinyi. Another good way to leave is to carry out a credible transition program, such as Generals Obasanjo and Abdulsalami Abubakar did in Nigeria in 1979 and 1999, Ahmadou Tamani Toure in Mali in 1992, General Ali Saibou in Niger in 1993, General Swar al-Dhahab in Sudan in 1986, Flight Lt. Jerry Rawlings in Ghana in 1979 and Field Marshal Mohammed Tantawi in Egypt in 2012. Hereditary rulership also discredits democracy in Africa. After Arabia’s absolute Kings, Europe’s ceremonial monarchs, Thai and Cambodian Kings and the old Indian Maharajas, Africa is the home of hereditary monarchs at the sub-national level. It is a problem when this is transplanted to national level. Ali Bongo suffered this image problem when he succeeded his father, and Togo’s President Faure Gnassingbe is another African ruler who succeeded his father, Gnassingbe Eyadema, who ruled for 30 years from 1967 to 1997. When Ian Khama became Botswana’s President in 2008, it was not seen in the same light because his father, Sir Seretse Khama, left the seat in 1980. What should AU and ECOWAS do to arrest the expanding coup belt in Africa and possibly reverse it? Well, they should continue to insist on democratic rule and punish coupists, but it is probably time also to amend the definition of democratic rule in Africa to exclude third term, too much longevity, senility and hereditary rule at the national level. I know some people will like to add human rights abuse, corruption and servile attitude to imperial powers to the list. One step at a time. If we add all those, few people will be qualified to attend AU meetings.