WEDNESDAY 7TH SEPTEMBER 2022 by THISDAY Newspapers Ltd

Akabueze: FG May Rework MTEF Over Suspension of 5% Telecoms Tax Says Nigeria may end up unwillingly with IMF if it fails to address fiscal challenges in sensible, sustainable manner Hints at hike in banks’ contribution to AMCON Insists govt not bloated, only needs rebalancing Ndubuisi Francis, Emmanuel Addeh in Abuja and Nume Ekeghe in Lagos

The Director General, Budget Office of the Federation (BoF), Ben Akabueze, yesterday expressed

concerns over the suspension of the planned 5 per cent telecoms tax, maintaining that Nigeria may have

to rework its recent Medium Term Expenditure Framework (MTEF). Speaking on Arise Television,

THISDAY’s broadcast arm, Akabueze, a former Economic and Budget Planning Commissioner

in Lagos, insisted that though he Continued on page 40

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2023: PDP Still Undecided on Who Leads Presidential Campaign... Page 43

Polish President, Duda, in HistoricVisit, Woos Nigerian Investors Explains why Poland is against Russian invasion of Ukraine Buhari hails govt for hosting Nigerians that fled from war Deji Elumoye and Alex Enumah in Abuja President Andrzej Duda of Poland yesterday made history as the first

Polish President to visit Nigeria in the about 60 years old bilateral relations between Nigeria and the European country. The visit which was aimed at

deepening cooperation between the two country seemed to have been necessitated by the impact of the COVID-19 pandemic and the ongoing war in Ukraine on

global economy. Duda, who commended the good and friendly relation that exists between Nigeria and Poland over the years, told a section of

the Nigerian business community and government representatives present at a reception held in his honour stressed the need to take the cooperation between both countries

to another level, said his country was capable of offering goods and services in the same range and Continued on page 40

ASUU Strike: FG Will Not Sign Agreement It Cannot Implement, Says Minister Govt reiterates offer to include N200bn in 2023 budget for varsities’ revitalisation, outstanding arrears Says it can only afford 23.5% salary increase Professorial cadre to get 35% upward review Constitutes team to review Briggs committee recommendations VCs recommend N800, 000 salary for professors Kuni Tyessi in Abuja Against the background of the ongoing faceoff with the Academic Staff Union of Universities (ASUU) over alleged government failure to fulfil agreements reached with the union, the federal government has said it

will not sign any other agreement it cannot implement. Minister of Education, Malam Adamu Adamu, disclosed this yesterday in Abuja during a meeting of Pro-Chancellors and Vice Chancellors of Federal Continued on page 40

Court Remands Ogun Speaker, Oluomo, Others over Alleged N4.1bn Fraud ... Page41

YOU'RE WELCOME TO NIGERIA...

President Muhammadu Buhari (R) receives the Polish President Andrzej Duda, during a state visit to the Presidential Villa Abuja.,. yesterday PHOTO: SUNDAY AGHAEZE.

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

NEWS

INVESTMENT OPPORTUNITIES IN LAGOS... L-R: Major General Philip Chum of the US Army Reserve; Lagos State Governor, Mr. Babajide Sanwo-Olu; President & CEO, Global Trade and Finance, Kumja Lee, and President & Founder of Del-York International & Del-York Creative Academy, Mr. Linus Idahosa, during a business dinner in honour of Sanwo-Olu held at the Intercontinental Hotel in Washington, D.C. United States of America...yesterday

LCCI Raises the Alarm on Impending Stagflation, Job Losses, Amid Declining Productivity Dike Onwuamaeze The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern that the Nigerian economy may decline to stagflation, which would negatively affect production cost and dampen growth in the medium term. LCCI expressed the view yesterday in a press statement titled, “LCCI Statement on Nigeria’s Economic Growth Performance.” It stated that the country’s

economy had continued to struggle with many inhibiting burdens, like inflation, weak revenue generation, degenerated infrastructure, forex challenges, unsustainable cost profile seen in debt services and subsidy payments, and the daunting threats of insecurity. Director General of LCCI, Dr. Chinyere Almona, who signed the press statement, said, “The chamber is concerned that if we continue in this trajectory, the economy may bleed away into a stagflation, which

will impact on production cost, job losses, worsened forex crisis, and dampened growth in the medium term.” Almona advised the federal government to sustain its targeted interventions in designated critical sectors, like agriculture, manufacturing, export infrastructure, and tackling insecurity, as well as free more money from subsidy payments. She added that it was worrisome that the 2023 budget indicated that

Aja, Lekki, Others to Experience Blackout as TCN Begins Maintenance Work Emmanuel Addeh in Abuja Residents of Aja, Lekki, Badore and other areas in Lagos state will be cut off from the national power supply system for about 12 hours daily, extending for a three-day period, the Transmission Company of Nigeria (TCN) said yesterday. The wholly government-owned entity, in a statement by the General Manager, Public Affairs, Ndidi Mbah, stressed that the outage will take place between September 7 and September 9 between 7am and 7pm. Aside Aja, Lekki and Badore, other areas which will be likely impacted by the maintenance work include Sangotedo,Jakande, Chevron, parts of Victoria Island and Agungi. According to the TCN, the repair work will include the relocation of Egbin/Aja 330kV Line 3 to a spare Omotosho 330kV line 2 bay as well as the repair of gas leakage on one of the isolators in the substation. “The Transmission Company of Nigeria plans to carry out maintenance work in Aja substation

from Wednesday 7th to Friday 9th September, 2022, from 7am to 7pm daily. “During this period, Aja, Lekki transmission stations and the Alagbon/Aja 330kV transmission line would be out of service, to ensure safe work space for the engineers. “Similarly, the Alagbon transmission substation would receive power supply through the Ijora/ Alagbon 132kV transmission line. “The maintenance work will affect bulk power supply and expectedly cause outage in Badore, Sangotedo, Jakande, Chevron, Agungi, Lekki and some parts of Victoria Island,” the statement stressed. TCN regretted any inconveniences this may cause electricity consumers within the affected areas and assured Nigerians of its determination to continue to deliver bulk power supply to distribution load centres nationwide. Meanwhile, the TCN has stated that its engineers were working to restore power supply to Calabar, after the substation fire incident which occurred on September 3, at its Adiabo 330/132/33kV

substation in Cross River State. “Presently, TCN engineers are replacing the affected equipment so as to ensure the restoration of power to affected areas,” it said.

there might not be any significant allocation to capital projects next year. The LCCI director-general urged “the government to tackle oil theft to earn more foreign exchange, borrow from cheaper sources to reduce the burden of debt servicing, and take a decisive step towards removing fuel subsidies.” The chamber also urged the government to continue with its non-oil campaigns and interventions to sustain the targeted financing towards boosting nonoil export for enhanced foreign exchange earnings. She stated, “The growth of 1.2 per cent recorded for agriculture and the 3.0 per cent for manufacturing (in 2022 Q2) are comparatively low when compared with other sectors that grew at above 5.0 per cent. “This is also indicative of the threat facing these sectors that power Nigeria’s real sector. The woes in these two sectors are

responsible for the frightening rise in our inflation rate. And with the excruciating burden from debt service, subsidy payments, and worsening insecurity, many more production activities may be constrained in the coming months.” LCCI also reacted to the National Bureau of Statistics (NBS) announcement that Nigeria’s Gross Domestic Product (GDP) grew in the Q2 of 2022 by 3.54 per cent year-on-year. It said this was the seventh quarter of positive growth, but noted that the rate was lower than the 2021Q2 rate, which was 5.01 per cent, decreasing by 1.47 per cent. Quarter-on-Quarter, it was an increase of 0.44 per cent points relative to 3.11 per cent recorded in 2022Q1. Almona said, “While we celebrate the latest growth figures, the chamber wishes to highlight some threats to future growth that need special attention: the oil sector has consistently recorded negative growth for the ninth consecutive

quarter, contracting again by -11.8 per cent y/y in Q2 2022 following a higher contraction of -26 per cent y/y in Q1. “The average daily crude oil production in Q2 was 1.43mbpd even lower than 1.49mbpd produced in Q1. If oil revenue makes up more than 80 per cent of government revenue, we expect the government to tackle the menace of oil theft and pipeline vandalism with sterner approach.” The non-oil sector grew by 4.8 per cent y/y in Q2 ’22, as against 6.1 per cent y/y in Q1 ‘22. The key drivers within the non-oil economy include transportation and storage (51.7 per cent y/y), finance and insurance (18.5 per cent y/y), telecommunications (7.7 per cent y/y), trade (4.5 per cent y/y), real estate (4.4 per cent y/y), construction (4.0 per cent y/y), manufacturing (3.0 per cent y/y), and agriculture (1.2 per cent y/y). Combined, these sectors account for 78.3 per cent of total GDP in Q2.

Business Owners, HR Professionals Hail BridgeGap’s Innovative App 56Bridge, an Innovative App created by BridgeGap Consults Limited is now live to aid seamless connection between employers and employees. Specifically, the app helps recruiters to attract and hire top talents from any part of the world, while facilitating job seekers to apply for jobs, write tests and attend interviews from the comfort of their homes. The recruitment App, which was showcased during a virtual live exhibition recently, demonstrated how organisations could revolutionise job applications, improve efficiency and reduce bottlenecks in the overall recruitment processes. While emphasising that the app was created in line with the company’s vision of streamlining processes in the workplace espe-

cially in human resource functions, the CEO of BridgeGap Consulting - the parent company of 56Bridge, Mosunmola Obembe, said users could download the App from the Apple Store, Android Play store or through the company website. “With 56 Bridge, employers of labour can easily shortlist candidates, schedule interviews, rate candidates as well as conduct employment tests while generating comprehensive recruitment reports. “On the other hand, candidates can also create profiles, download resumes, apply for advertised jobs and take interviews,” Obembe said. The CEO rolled out the unique features of 56 Bridge app to organisations and job seekers including Job postings which allows organisations post jobs for potential applicants; employment

tests, where recruiting organisations can set employment tests for job seekers and set either live or video Interviews, the app allows candidates to take such interviews from any location. According to Obembe, other features of the app include Candidate Ratings, which allows for scoring and rating of candidates on the go; Video Library, Analytics Reports and SMS/Email Interview Invites. Business owners and human resources practitioners at the official launch commended the company for the App, as some clients who have been making use of the App said that it is indeed a solution to many of the challenges faced by recruiters and applicants. For instance, the Managing Director, Chams Plc, Mr. Gav-

ing Young, said the app comes in very useful depending on the role and available skills, adding ‘56bridge has simplified the process of matching the right skills for the right roles from the vast market. Other users of the App including Kema Ezeazor, Head Human Resources at Greenlife Pharmaceuticals and Precious Josiah of DX Technologies Limited hailed the new app during day 56 “live activation” of 56 Bridge App. BridgeGap Consults Limited has been providing multidisciplinary professional service to both local and international organisations since 2008. The firm has worked with clients in various industries and of various sizes, finding solutions thus adding value to the business world.

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NEWS

AT THE ONGOING GASTECH CONFERENCE IN FIERA MILAN... L-R: Member of board of NNPC Limited, Chief Pius Akinyelure; Minister of State Petroleum Resources, Chief Timipre Sylva; Chief Executive Oﬃcer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed and another board member of NNPC Limited, Mallam Mohammmed Lawal, at the NNPC Limited pavilion, at the ongoing Gastech Conference, in Fiera Milan... yesterday

House C'ttee Grills Accountant General over Failure to Provide Evidence of 25% of N6bn Generated by SEC Slams FCCPC over shortfall in revenue remittance

Juliet Akoje in Abuja

The House of Representatives Committee on Finance, yesterday, questioned the office of Accountant General of the Federation (oAGF) for failing to provide evidence of 25 per cent of N6 billion internally generated revenue by Securities and Exchange Commission (SEC) in 2020. During an interactive session with SEC Director General, Mr. Lamido Yuguda, on the review of the 2020 to 2022 budget defence and 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Policy paper (FPP), Chairman of the House Committee on Finance, Hon. Abiodun James Faleke, requested the oAGF to provide evidence of the N738 million, representing 25 per cent of the SEC revenue in 2020. The oAGF said, “We have their record but not here but the receipts are issued by us so we can confirm it. Because they are not part of the schedule we are supposed to have today.” Deputy Chairman, House Committee on Finance, Hon. Saidu Abdullahi, said, “oAGF, you’re supposed to know this was actually in the news and

you’ve been part of us since we started this session. If you look at our newspaper advert you will see that SEC actually was supposed to appear today, so you are supposed to know.” Faleke asked the accountant general, “Honestly, are you happy with your job, are you satisfied that you are doing the right thing and you are presenting the necessary information to Nigerians through this committee?” He added, “It’s rather unfortunate, honestly. At least I can see the laptop in front of my brother, it’s no longer manual.” While responding to inquiry on the evidence of the 25 per cent remittance of the N6 billion revenue generated in 2020, the SEC director general observed that the money was deducted from the source automatically, adding that the system was effective. Speaking on the actual revenue remitted to the Consolidated Revenue Fund as provided by law, Yuguda who explained that the commission was self-funded, acknowledged that the commission was expected to remit 25 per cent of its revenue at source, and another 15 per cent at the end of the financial year.

Meanwhile, the House of Representatives Committee on Finance yesterday slammed the Federal Competition and Consumer Protection Commission (FCCPC) for remitting only N2, 636, 512, 707 billion out of the N7, 685, 947, 932 billion it generated between January 2021and July 2022. Executive Commissioner, Operations, at the commission, Adamu Abdullahi, said while appearing before the House of Representatives Committee on Finance for the consideration of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) from 2023 to 2025 that N4.024 billion was generated in 2021, while 3, 661, 947, 932. 51 was generated from January to July this year. He added that N1, 341, 196, 789 was remitted in 2021 and N1.295, 315, 918 had been remitted so far this year. Faleke queried the commission over the balance of the money it generated, which the DFA said was for running overhead cost. Abdulahi, while responding, explained that they spent the money because they were given approval by committees of the House that oversee the affairs of the commission.

But Faleke said, "No agency has the right to spend any money without appropriation, no committee of the House has the authority to approve any spending outside appropriation." The committee chairman further directed the clerk to write a letter that would be personally signed by him to the Minister of Finance that the Director of Finance and Administration of the commission, Mr. Akinyoghon Ojo, who accompanied the Executive Commissioner of Operations be removed from office.

Michael Olugbode in Abuja The Minister of Science, Technology and Innovation, Senator Olorunnimbe Mamora has said the Nigeria with her huge population can no longer afford to be a consuming nation, but a productive one. Mamora, said this yesterday, during the launch by Economic Community of West African States

Threatens to declare strike in Abia state The Nigeria Medical Association (NMA) has said unless drastic measures were deployed by governments to stem the tide of brain drain, the already bad national health indices may eventually spiral out of control thereby leaving Nigeria at the bottom rung among the comity of nations. The association has also directed its Abia state chapter to serve the government of Abia state three weeks ultimatum adding that if at the end of the ultimatum, outstanding issues are not resolved, the NMA in the state should embark on an indefinite strike While commending the efforts of government at all levels and healthcare workers for the spirited

fight against Monkey Pox and other re-emerging diseases, the NMA urged the government to institute more rigorous and continuous surveillance systems and strict international health travel measures to check importation of infectious diseases. In a communiqué issued at the end of its National Executive Council (NEC), the NMA expressed disappointment over the failure of governments to address the “Push” factors propelling brain drain which it said had led to the mass exodus of doctors and other health worker for greener pastures. "The NEC reiterated that unless drastic measures were deployed by governments to stem the tide of brain drain, the already bad

National Health indices may eventually spiral out of control thereby leaving Nigeria at the bottom rung among the comity of nations," it said. The NMA urged the, "government to institute more rigorous and continuous surveillance systems, strict international health travel measures; improve international co-operation and data sharing, rebuild public health infrastructure to prevent and control vector-borne and zoonotic diseases; institute multidisciplinary collaboration using, “One Health” approach for prompt diagnosis and treatment; conduct primary as well as translational research in management of infectious diseases, conduct regular training and re-training of health personnel and strengthen

the budget?” Deputy chairman of the committee, Saidu Musa Abdullahi, said, “Because we don't have people checking on us we go haywire on spending. What we get is you create unnecessary expenditures around income you generate. Abdullahi said, “It is even more unfortunate that you are a full agency and supposed to do 100 per cent remittance. We are not prudent in the way we manage resources in this country. And something has to be done about some of these agencies.”

Mamora: Nigeria Can No Longer Afford to Remain a Consuming Nation

Exodus of Doctors May Worsen Nigeria's Poor Health Indices, Says NMA Onyebuchi Ezigbo in Abuja

He directed that another letter be written to the ministry that no more funds would be released to the agency until Mr Ojo was removed. Faleke expressed dissatisfaction that the agency spent its internally generated revenue when it already had a budget for overhead. "The agency which is fully funded by the government is supposed to pay 100 per cent of its IGR into the Consolidated Revenue Fund. If everybody spends their income how would the government fund

evidence based timely informed decision-making in order to detect, treat, contain, and control infectious diseases." The association charged its Abia state branch to ensure that the rights and privileges of all doctors in Abia state, especially those working with Abia state government are not trampled upon by deploying all legitimate means at their disposal. The NMA also urged the governments of Ekiti, Ondo and Imo States to hasten the process of clearing the unpaid salaries and wages of doctors and other health workers. It further resolved to continue the engagement using every lawful means to ensure the payment of the newly approved Hazard Allowance within next two months.

(ECOWAS) of the Forum for African Research and Innovation (FARI). He said: “Our dear country is poised to continuously achieve research excellence, attract and retain adequate human resources for science, technology and innovation, foster competitiveness and innovation, and build science and technology capacities in the country. “We are calling on all private concern to join us in this endevour.” The minister while expressing optimism that the Forum would present an avenue for exchange of ideas and discussions among scientists, innovators, policy makers, the private sector, technical and financial partners, noted that the globalisation of research and development had increased policy debate and made Africa to be ambitious in providing more critical mass for excellent research. He added that the Forum would therefore equally provide an opportunity for international science, technology and innovation cooperation and networking within the ECOWAS member states. The President of Economic Community of West African States (ECOWAS), Omar Touray, while noting that the launching of the Forum, was a move to boost scientific research and innovation by member countries, said FARI was initiated to respond to initiatives on science and technology at the global and continental level. He said with the launch of FARI, it would be easy to boost the visibility of scientific research and innovation in West Africa.

He said the theme of the first edition of FARI which was, “Science, Technology and Innovation for a competitive ECOWAS,” had been identified with a view to develop a common vision that could promote the relevance of a common agenda in the field of Science, Technology and Innovation (STI) and improve the effective application of research results and innovation for the benefit of sustainable socio-economic development and the competitiveness of the West African region. Touray stressed that from past centuries to the present, sciences have contributed enormously to the change of humanity, and has continued to shape the world through technological innovations and constantly evolving derivative applications that impact all business sectors around the world. He said: "FARI is therefore a regional platform for exchanges and discussions between scientists, technologists, innovators, decisionmakers, the private sector, technical and financial partners, pupils/ students and the populations. It aims to be unifying, innovative but also and above all to carry a mission to promote the products of researchers in the region.” He noted that: "In addition to bringing added value to scientific and technological integration efforts, the FARI also offers real opportunities for economic and social benefits. “It promotes scientific tourism and helps create temporary jobs in the host country and fight against poverty," he added.

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NEWS

WORKSHOP ON COLLATERAL REGISTRY/MOVEABLE ASSET-BASED LENDING... L-R: HOD Banking and Finance Department University of Abuja, Dr Yekeen Abdul Maliq; Legal Adviser/Director Legal Services Department Central Bank of Nigeria Mr Kofo Salam-Alada; Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Abuja Branch, Prof Uche Uwaleke; Workshop Committee Chairman, Joseph Okunato; Former Deputy Director CBN, Sir Steve Nwadiuko, and Group PHOTO: GODWIN OMOIGUI Head First Bank, Idris Ibrahim Ado, during the Workshop on Collateral Registry/Moveable Asset-Based Lending held in Abuja.......yesterday

Sylva: European Banks Must Reduce Discriminative Investment Policies against Oil and Gas Insists Nigeria positioning to become alternative gas supplier to Europe Country moves to increase gas production to 12.2 billion scf/d Peter Uzoho The Minister of State for Petroleum Resources, Chief Timipre Sylva has urged banks and investment houses in Europe to reduce their current discriminative investment decisions against oil and gas development projects and make funding available to Nigeria to enable more gas production for the continent. The minister also said Nigeria was positioning herself to become alternative gas supplier to Europe,

adding that the country was planning to ramp up her gas production from the current eight billion standard cubic feet (8bscf) per day to 12.2bscf. Sylva stated this yesterday while speaking during a ministerial panel session at the ongoing Gastech Exhibition and Conference 2022 in Fiera Milano, Italy. He insisted that EU must provide the appropriate policy framework that enables investments for oil and gas from European investors and financial

institutions. He said the new policy from the European Union (EU) labeling gas and nuclear power as green energy was a ‘win-win’ for Europe and Africa. The EU Parliament had in July 2021 approved the proposal to give a sustainable finance label to investments in gas and nuclear power, paving the way for new investments toward energy selfsufficiency, which was adjudged crucial to resolving the energy crisis in Europe resulting from

the Russia-Ukraine war. Sylva said, “Today, we are seeing that gas is weaponized and every country requires some alternative supply. Nigeria is positioning herself to become an alternative supplier to Europe. We are already working with Algeria to build the Trans-Saharan gas pipeline that will take our gas to Europe. “We are also having a partnership with Morocco to extend the West African gas pipeline to Morocco and Mediterranean which will take gas to Europe. We

Our Doors Open for Business, Sanwo-Olu Tells American Investors Lagos State Governor, Mr. Babajide Sanwo-Olu has described Africa as the next destination for global business, with Lagos being the convergence point. He said the economic position of the state, the innovative youth population and the conducive environment provided by the government are what makes Lagos the destination of choice for many investors who have set up businesses in Nigeria. According to a statement, SanwoOlu spoke during a dinner organised by Del-York International in his honour in Washington DC, United States of America, recently, with the theme: investment opportunities in Lagos, Africa’s largest economy. The governor listed technology, infrastructure, renewable energy and entertainment as areas that remain fertile for serious investors to look at, saying that there is a guaranteed return on investments in these for those coming to invest in the state. Sanwo-Olu, while responding to the questions on security in Nigeria, said Lagos is the most secure state in the country, noting that it is one of the major reasons why investors are looking towards the state, promising the audience that his government will continue to make the State inhabitable for criminal minds. In his opening remarks, the Chief Executive Officer of DelYork International Mr. Linus Idahosa, said there was no other place for investment at this time than Lagos State, given the many infrastructural projects embarked upon by the Babajide Sanwo-Olu administration to create a good and

conducive business environment for investors. He said: “Without any equivocation, Lagos is the best and safest place for investment at this period. I’m saying this not because we have the Governor of the State here but because it is the fact. Lagos is the biggest economic hub of Africa and the government is working to ensure a safe environment for investments.” Speaking on the change being experienced in Africa, Mr. Steve Hayes, President of Corporate Council on Africa, U.S.A said unlike a few decades ago, Nigeria has started attracting a number of investments from Nigerians living in the United States. He pointed out that this will encourage investors in the real sectors in America to look at the direction of the country. Other speakers touched on the issues of security and negative perceptions of Nigeria as being portrayed by foreign media, as one of the major factors militating against investment attraction in Nigeria. On his part, Governor Sanwo-Olu allayed the fears of the investors, urging them to look at the brighter side of the country. The business dinner, which was moderated by Africa-American broadcaster Williams Armstrong had over forty American investors in attendance. Meanwhile, Sanwo-Olu, has pledged the continuation of his administration’s support for the creative industry in the State. Sanwo-Olu applauds the tenacity and doggedness of the Nigerian creative artists and entertainers, for creating a growth path for the sector

with less institutional support. He said Lagos State Government was already changing the narrative by deliberately working in partnership with industry players to bring more development and professionalism into the creative sector. Sanwo-Olu stated this last weekend at Atlanta in the United States of America (USA) during an interactive session with Nigerian musicians, producers and promoters at an event tagged ‘Stars are made in Lagos’, a side event at the just concluded 15th Headies Global Awards. The governor also visited the Trilith studios in Atlanta ahead of the planned Lagos film city project, where he met with the founder, Mr. Daniel Truett Carthy. Sanwo-Olu and his entourage were taken round the 700 acre site studio, with a 400 acres backlog and 24 sound stages. Sanwo-Olu said there are thousands of people in the arts and entertainment industry in Nigeria and Lagos in particular that need to be heard globally and tell the Lagos story like Davido, Wizkid and a number of our filmmakers. He said Lagos state government would continue to create the space for those in the arts and entertainment industry to be able to shine and be global players. He said: “For us coming here is really about telling the Lagos story in America and we know that Atlanta is also a big entertainment space in the United States and so there is no better place to start a conversation than from here. What we are about is really to just test

the water, be able to communicate and let the Diaspora audience know that they have a government and their people can also be there. “We are opening up our doors to other players and believing that after this it would give other creative minds and producers; music and entertainment producers a platform where they also can indeed deepen that industry. So, we believe this first outing will germinate into a bigger outing for us.

are already working with Algeria to build the Trans-Saharan gas pipeline that will take our gas to Europe. "It is a win-win for all of us and it’s in their interest to reduce this discriminative investment that the European banks are doing. “We can see now that gas will not be wished away just now and gas will stay for a longer period and it’s in our collective interest for us to provide the funding for gas." The minister maintained that Nigeria needs collaboration, funding, and technology from Europe, noting that by the time all these were achieved, Nigeria's gas potentials will be unlocked and more gas exported to European nations. Currently, Nigeria's proven gas reserve stands at 209.5 trillion cubic feet (tcf) and over 600tcf unproven, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). With the Petroleum Industry Act (PIA) now in place, Sylva said there would be more exploration for gas and that Nigeria will be able to increase her proven gas reserves to over 600tcf and become one of

the biggest players in gas soon. He stated that the country would become one of the major players in the gas market as the federal government was taking some bold steps as well as increasing investments in liquefied natural gas (LNG). Citing the declaration of 2021 – 2030 as the ‘Decade of Gas’, he said Nigeria was focused on investing in gas. Through the Nigeria Liquefied Natural Gas (NLNG) Limited, the minister pointed out that Nigeria was currently producing about 22 million tonnes of LNG and was increasing it to 30 million tonnes with the NLNG Train 7 currently under construction. The Train 7 construction has reached 30 per cent completion, as disclosed recently by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote. Sylva also revealed that the government was planning to increase the country's gas production which stands at eight billion standard cubic foot (bscf) per day to about 12.2bscf.

ABP: NMFB Moves to Recover N5.67bn, Issues Final Demand Notice to Debtors Sadolen Interworld, Gum Arabic, Prime Synergy Global top debtors’ list

James Emejo in Abuja The NIRSAL Microfinance Bank Limited (NMFB), yesterday issued a final demand notice to customers who had accessed loans totalling about N5.67 billion under the Central Bank of Nigeria (CBN)’s Anchor Borrowers’ Programme (ABP), to offset their indebtedness to the bank. The demand to settle their outstanding indebtedness followed the central bank’s directive to NMFB to recover all non-performing intervention loans granted by the latter under the scheme. The NMFB management, in a statement made available to THISDAY, noted that earlier demand notices had been issued by the bank to the last known addresses of the affected

beneficiaries, adding that the latest communication would serve as a final call to them to repay their debts. The bank further listed the debtors to include Sadolen Interworld Limited, promoted by Saidu Audu Adaji and Nura Musa Hassan with current exposure of over N2.05 billion. Also, Gum Arabic Farms and Commodities Limited which is promoted by Alhaji Yusuf Ibrahim Babangida has a current exposure of over N1.22 billion while Prime Synergy Global Solutions Limited, promoted by Mercy Ikeji and Jennifer Nyesom-Effiong is exposed to loans worth over N1.45 billion. Others include Asuj Food Production and Processing Limited, promoted by Abubakar Umaru Jibrilla and liable to N581.42 million; Souvenire Seeds Nigeria

Limited, promoted by Roseline Omokora and owing N158.18 million; as well as Con Investment Limited promoted by Lady Josephine Nwaeze with current exposure of N211.61 million. Under the ABP Operational Guidelines, offences bordering on diversion of funds could attract blacklisting of the Smallholder Farmer (SHF) from all CBN interventions, prosecution of the SHF by anchors/associations and repayment of the loan by the guarantors/cooperatives/ commodity associations among other sanctions regimes. Essentially, the CBN ABP was launched in 2015 by President Muhammadu Buhari to among other things, checkmate issues of reliance on imported rice, and save the country billions of naira lost to food imports annually.

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MIDWEEKPOLITICS

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

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ADC’s Festering Leadership Crisis The leadership crisis rocking the African Democratic Congress (ADC) may scuttle the chances of the party in the 2023 elections if not quickly resolved, Adedayo Akinwale writes.

he crisis rocking the African Democratic Congress (ADC) is far from being over, following the decision of the National Executive Committee (NEC) of the party to appoint an Interim Caretaker Committee to pilot the affairs of the party after the expiration of the Ralph Nwosu-led National Working Committee (NWC) on August 28, 2022. For the first time in a long time, the news about the ADC last week made the front page of most national dailies in the country, albeit for the wrong reason. The ongoing leadership tussle between the faction loyal to Nwosu and the faction loyal to the Presidential candidate of the party, Dumebi Kachikwu is threatening the foundation of the party. The ADC turned to house of commotion following an attempt by Nwosu to perpetuate himself in the office having served as the national chairman of the party for 17 years, even though the constitution of the party only allows eight years of two terms. But Nwosu while featuring on national television argued that the constitution of the party was amended in 2018 when other political movements decided to use the platform of the party to challenge the dominant political parties. He explained that after the constitution was amended, his first four-year tenure started in 2018 and it is within his constitutional right to re-contest the chairmanship position. The embattled chairman however failed to explain if there was a convention in 2018 which produced the present crop of NWC members of the party.

Nwosu

Kachikwu

in the 2023 elections. The party’s National Legal Adviser, Peter Iyiola Oyewole, while briefing members of the NEC at the meeting held at the national secretariat of the party on Thursday, August 28 in Abuja drew the attention of the NEC to the fact that the tenure of all the NWC had ended on 21st of August 2022. Amember of NEC and the party’s Deputy National chairman (Politics), Dr. Bamidele Ajadi, moved a motion that the tenure of the said national officers be extended for one year for the party to concentrate on the activities ahead. The motion was seconded by ADC National Vice Chairman, South-South, Elder Igbinoba Festus. The event the party claimed was witnessed by the representative of

The Genesis of the crisis The NEC of the party recently granted its NWC under the leadership of Nwosu one year tenure extension to allow the party’s leadership focus on campaign activities across the country and to deliver all ADC candidates at all levels

the Independent National Electoral Commission (INEC). ADC State chairmen insist tenure extension illegal But members of ADC NEC described the extension of the Nwosu-led NWC as illegal. The ADC Chairmen Forum in a petition addressed to INEC Chairman, Prof. Mahmoud Yakubu and dated August 29, 2022, declared the tenure extension as null and void. The Forum in a petition through its lawyer, Alaci Attorneys and jointly signed by its Chairman, Hon. Kingsely Ogga and Secretary, Hon. Odion Osas, said the meeting where the tenure of the NEC was extended was overcrowded with unknown persons and miscreants The ADC Chairmen who are members of NEC said the fake NEC meeting lacks the constitutional requirement for adequate notice for NEC meeting as provided in Article 23 A & B of the constitution of the African Democratic

Congress, 2018 (as amended) for the mandatory requirement for giving seven days notice for a national executive committee (NEC) meeting. The forum pointed out that Article 24 A of the constitution of ADC, 2018 (as amended) provides that the NWC can only be voted in through a national convention and it is only a national convention that can extend their tenure. It said: “The purpose of this illegal act is best known to the National Chairman, the National Secretary and other members of the NWC. The said purpose was revealed when the fake meeting purportedly extended the tenure of the NWC.” The forum said it was important to state here that what transpired on the 26th of August 2022 at the ADC secretariat was fake, unconstitutional, null and void and of no effect. It therefore called on INEC to disregard such illegalities and prevail on ADC to convene a convention for the purpose of electing a new NWC. Suspension of party’s presidential candidate A few days after the tenure of the Nwosu-led faction was extended by a year, the party’s presidential candidate, Kachikwu was suspended from the party, less than three weeks to the commencement of the campaign. In a statement issued by the party’s Deputy National Chairman (Politics) Dr. Bamidele Ajadi, the party accused Kachikwu of false, misguided and defamatory video he made and circulated, among other infractions. Ajadi claimed that the decision was taken after an emergency National Working Committee (NWC) meeting held on Friday, 2nd September, 2022. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Obi’s Popularity Rattles APC, PDP Udora Orizu writes that the growing popularity of Labour Party’s Presidential Candidate, Peter Obi, has shown that he’s a force to be reckoned with come 2023 general election

t appears the camps of top contenders for the next President of Nigeria, Asiwaju Bola Tinubu, of the All Progressives Congress (APC), and Atiku Abubakar, of the Peoples Democratic Party (PDP), are concerned over the growing popularity of the presidential candidate of the Labour Party (LP), Peter Obi, among the youth. The general election in Nigeria is scheduled to hold, February 2023 but as expected in every election cycle, political shenanigans have already commenced ahead of campaigns scheduled to officially begin on September 28, 2022, according to Independent National Electoral Commission (INEC) timetable. Since the return of democracy in 1999, the presidential election has always been a two horse race between the PDP and APC. While former Lagos state governor, Tinubu and former vice president, Abubakar are seen as the main contenders in the upcoming election, it appears it will be a different scenario in 2023, with the entrance of Labour Party’s Obi. Obi served as the Governor of Anambra State between 2006 and 2014 under the platform of the All Progressive Grand Alliance. In 2014, months after handing over to Willie Obiano, the former governor defected to the PDP. He was the vice-presidential candidate in 2019 to Atiku Abubakar. After Atiku lost to President Muhammadu Buhari, Obi who’s desperate to make Nigeria work again, in March, 2022, declared interest to run for presidency in 2023 under the platform of PDP, a position his former principal Atiku is also jostling for. Three days before the PDP presidential primaries held on May 28, Obi defected to Labour Party, and became the presidential candidate of the Party. Since he became LP flagbearer for the 2023 presidential poll, Obi has not only popularised the party, the support for him has grown tremendously with

Obi

many youth pledging to work for his victory. He’s emergence also gave rise to defections from the ruling APC and main opposition PDP to the LP. As his popularity grows, the proverbial “Third Force” in Nigerian politics is making itself heard again. The idea of a third force has become a recurrent phenomena in every general election cycle since the successful merger in 2013 that metamorphosed into what is today known as the All Progressive Congress (APC). However, in 2019, that did not succeed largely because many of the so-called ‘third force’ candidates were perceived to be elements sponsored by either the PDP or APC. While some are wondering if

Obi can really topple the two-party consensus that has defined Nigerian politics since 1999, it can be said that much of the growing support for Obi among a cross section of disaffected young people is born out of understandable frustration with the system, specifically the fact that the presidential candidates of the two main political parties, are perceived as symbolizing the business as usual brand of politics that has led the country to the brink of economic collapse. The economic hardship is hitting hard, and people are blaming the two major parties for this situation, given that both have ruled the country at various times without improving the standard of living of people, hence the possibility of a third force phenomenon gives many Nigerians hope. Again, the disaffection of youth for the current government and Obi’s emergence is believed to be the reason for upsurge in the number of applicants for Permanent Voters Card (PVCs). The Independent National Electoral Commission (INEC) which just concluded its Continuous Voter’s Registration (CVR) exercise across the country in its latest report disclosed that about 71% percent of the 12.2 million newly registered voters are youth. Most of the youth rushing to the INEC centres for registration said via many social media platforms that they are for Obi to change the status quo as represented by APC and PDP. Obi’s supporters, known as the “Obi-dients” believe he and his running mate Datti BabaAhmed are the chosen one to make Nigeria better. As the 2023 general election draws closer, the three major political parties, APC, PDP and LP, are currently strategising to convince youth, who constitute the larger percentage of the voting population on why they should

vote for them. Part of those campaign strategies can come in form of criticisms, fault finding, blame games to garner votes. While there are 15 other presidential candidates jostling for the number one seat in the country, only Obi’s name is on the lips of the ruling APC and main opposition PDP. At first ‘Obi-dients’ were dismissed as social media ‘keypad warriors’ who cannot be able to deliver victory for the labour party come 2023, but the massive love and support he’s getting from the youth both on and off social media has made the two major political parties realize he’s a force to be reckoned with, and hence has become a topic of discussion. Recent Comments, Jabs, Altercations Last month, PDP presidential candidate, Atiku downplayed the possibility of Obi winning the 2023 presidential election. The former Vice President, while appearing on Arise TV was of the view that it would take a miracle for Obi to win the 2023 presidential election because, according to him, 90 percent of Northerners are not on social media. He also said Obi made a mistake leaving the PDP as his new party LP has no structure at the grassroots level to ensure victory in 2023. Also, former Senator representing Kogi west and Atiku’s spokesman, Dino Melaye, claimed Obi was not known nationally until Atiku “identified him”. Another close ally of Atiku and former aide to former President Goodluck Jonathan, Reno Omokri is well known for his new dislike for Obi. Omokri via his various social media handles always stresses why Nigerians should vote for Atiku and not Obi or Tinubu. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY SEPTEMBER 7, 2022

POLITICS

Osinbajo as An Exemplar in Public Service Vice President Yemi Osinbajo after failing early in the year to secure the presidential ticket of the ruling All Progressives Congress (APC) has remained calm, collected and focused on his job, Gabriel Emameh writes

eyond his urbanity and erudition, the Vice President Yemi Osinbajo’s profound attributes and leadership peculiarities have endeared him to many Nigerians, home and abroad. Despite his presidential primary election loss, many of his scattered supporters across the country have never wavered to sing his praises. Many of them still believe that the special providence that has kept him till this time will someday define his political future. Osinbajo represents the face of hope for the country. Osinbajo as Nigeria’s second-in-command is an astute administrator, who one can conveniently say has successfully conquered many grounds, and still on the battlefield, blazing the trail as the country’s best and finest Vice President in history with verifiable achievements compared with his predecessors. With the quality of his outputs in office, it shows that before coming to power over seven years ago, he had taken a long and hard look at governance plus the challenges therein, and today, as a Vice President with bounded executive functions he has done exceedingly well by bringing brilliance, finesse and precision to governance, even to the fact that, wherever he went, for the period he acted as President, he drew free-willing, everyday people who were unsparing with displays of affection and benediction for him. The actions of the government within the intervening periods he held executive power, still remain part of the sunny sides of the present government. He was Acting President in June 2016, January 2017, May 2017 and August 2018. In that capacity, he for the first time since at least 1999, started the idea of Presidential Executive Orders when he signed the Presidential Executive Order on Ease of Doing Business, aimed at eliminating the stifling constraints on both setting up and doing business in the country, enhancing the same and attracting Foreign Direct Investments (FDI) to Nigeria. That Executive Order in one stroke removed all bureaucratic encumbrances that over the years, confined the processes of doing business in the country to the slow lane. Part of the specifics is that it removed many barriers to registering businesses with the

Osinbajo

Corporate Affairs Commission (CAC). The Order wasn’t a brain wave but a tedious outcome of brain work that flowed from the Presidential Enabling Business Environment Council (PEBEC), which was set up in July 2016 by President Muhammadu Buhari to remove bureaucratic constraints to doing business in Nigeria, and make the country a progressively easier place to start and grow businesses, which the Vice President chairs. In outcome, PEBEC ensured that Nigeria rose 39 rungs up the World Bank’s ladder of Ease of Doing Business, while the FDI curve has also been on a progressive ascent with Microsoft, Google, and other foreign entities opening offices in the country. The Google Africa Development Centre in Nigeria targets 10 million trainees in Africa by 2022. So far, it has trained more than five million people out of which three million are Nigerians. Before the Executive Order on Ease of Doing Business, Nigeria, had, in 2014, sunk to an abject 169th position on the globe in this criterion but shot to

131 position in 2020 with the Order. In addition to Microsoft and Google, Nigeria today has 55 active technology hubs that raise over US$94m, trumping the US$60m, raised by 59 South African start-ups. Six unicorns: Opay, Paystack, Flutterwave, Andela, Piggyvest, and Jumia have emerged in the financial space. Also the country’s technology sector total start-up funding, which was US$178.3m in 2016, grew to US$337m in 2018. It dropped in 2020 due to the COVID-19 scourge and rose again to US$219.02m within the 2021 first quarter. In collaboration with NITDA, Microsft trained several Nigerians across the nation. According to the records of the software giant, six per cent of the trainees got new employment, 15 per cent established new businesses and it helped 54.4 per cent grow their businesses, while about 35.5 per cent saved costs and 20 per cent improved customer reach. As Acting President, Osinbajo made some significant recruitments that struck the bull’s eye in terms of how they resonated with people and more importantly, performance outcomes. Justice was not just served with his swearingin of Justice Walter Onnoghen as the 17th Chief Justice of Nigeria, it was seen to have been served. Also remarkable was the appointment of Prof. Bolaji Owasanoye as chair of the Independent Corrupt Practices and other Related Offences Commission (ICPC); Dikko Aliyu AbdulRahman as Chair of the Governing Board of the Bank of Industry (BoI) and Mr Olukayode Pitan as Managing Director, BoI and Funsho Doherty as Director-General, National Pension Commission (PENCOM). Osinbajo as Acting President also ensured the appointment of Ekpo Nta as full-time Commissioner for the National Salaries, Incomes and Wages Commission; Siaka Isaiah Idoko as Chairman/CEO, Investment and Security Tribunal; and that of 21 new federal permanent secretaries. On February 8, 2017, as Acting President, he approved contracts for Ilorin-Omu Aran Kaaba Road to the tune of N21 billion. Seven days after, February 15, 2017, a sum of N126 billion for road projects spread across Kano, Bauchi, Adamawa, Kwara, Gombe, Enugu, and Kaduna states was approved by FEC under his chairmanship.

The Federal Executive Council (FEC) meeting he chaired on February 22, 2017, also approved N32 billion for the resuscitation and completion of the 50 km dual carriage Kaduna Eastern Bypass, the council also approved $39.9 million for the construction of the Cameroon-Nigeria Border-line Bridge at Ikot –Efiem. Some of these projects are still ongoing but when they are completed, there is no doubt that they will usher in considerable succour to the people by reducing travel time, lessening existential dangers on routes lives and enhancing the ease of doing business. As Acting President, Osinbajo in 2017, signed seven bills into law that touch at the core of good governance. These include The oaths (Amendment) Act 2017, which enlists courts that were not in existence at the time the Oaths Act were made and which came into being upon the Amendment of the constitution, creating such courts such as the Federal High Court, F.C.T High Court, National Industrial Court, among others named in the Amendment Act; Defence Space Administration Act 2017 for the development of satellite technology and ensuring the security of the nation’s cyber activities; Veterinary Surgeons (Amendment) Act 2017, which right-sized the membership of the Veterinary Council. Others are The National Film and Video Censor Board (Amendment)Act 2017, which trimmed the membership of the Governing Board and empowers the Board to regulate the import and export of movies; Pension Rights of Judges (Amendment)Act 2017, which elaborated the definition of a judicial officer to cover the offices of the Chief Judge or judge of the Federal High Court, president or judges of the National Industrial Court and Chief Judge or judges of the High Court of the Federal Capital Territory; the Nigeria Institute of Soil Science (Establishment) Act 2017, which brought the Nigeria Institute of Soil Science which is charged with the responsibility of regulating the profession of Soil Science into being and the Mortgage Institutions (Amendment) Act 2016, which reviewed the prescribed penalties. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

One Death Too Many in Anambra Assembly Within a space of three months, the Anambra State House of Assembly has lost two sitting members, one former member, giving cause for concern to many, reports David-Chyddy Eleke.

n May 15, 2022, the news of the kidnap of a member of the Anambra State House of Assembly filtered in. It was on a Sunday, and like other politicians who use the weekend to go back to their constituencies to fraternize with their people, Hon Okey Okoye, who represented Aguata state constituency 11, had travelled to his area, when he was kidnapped. This had happened at the very height of insecurity in the state, as many people had been either kidnapped, killed out rightly or dispossessed of their vehicles. In the case of Hon Okoye who was also representing the Anambra State governor, Prof Chukwuma Soludo, in the assembly, he was kidnapped alongside his aide, Mr Cyril Chiegboka. To many too, being kidnapped was better than being killed, as the fate of many others had been. And the belief was that sooner or later, especially after the collection of ransom, he would be released, alongside Chiegboka. That was, however, not to be, as about a week after his kidnap, a headless body was reportedly found around Nnobi, and his relatives identified the body to be that of the honourable member. Not long after too, his severed head was found in Nnewi-Ichi. His aide was not also spared as he was served same treatment. Less than one month after, exactly on June 9, a former member of the same Assembly, Nelson Achukwu, who is also living with disability was kidnapped in his home town, Ukpor in Nnewi South Local Government Area by hoodlums, who later beheaded him too. The headless body of Achukwu was found by

Okoye

Okafor

his relatives about two weeks after his abduction at a boundary between Uke and Ukpor communities. A family source who pleaded not to be named had said the deceased has been quickly buried by the family, as his body was already decomposing. The source said: “We couldn’t believe he would be killed after they paid the N15m ransom requested by his abductors, despite his physically challenged condition.” Though no news of the attendance of the burial of Achukwu by members of the House of Assembly was recorded, probably because of

the hasty burial by his family, on the contrary, Hon Okechukwu’s biurial was more like a sober time for all members of the assembly, who attended in their numbers, to pay their last respect to their colleague. The assembly had also briefly suspended sitting to honour Okoye, while prayers were also said for the members. But just as members were already getting over the death, yet another member has kicked the proverbial bucket. Last week, the news of the death of Hon Nnamdi Okafor, the member representing Awka State Constituency 1 was announced. Most members of the assembly were in South Africa to undergo a legislative retreat, when the news of Okafor broke. He was reported to have collapsed and died in

a Hotel at Sandton City, Johannesburg, in far away South Africa. Confirming his death, the Anambra State Governor, Prof Chukwuma Soludo, in a condolence message expressed shock over the sudden death of the lawmaker, who doubled as the Majority Leader of the House. Soludo said, “It is shocking that the State Assembly lost another lawmaker to the cold hands of death, coming barely three months after the demise of the lawmaker representing Aguata Constituency 11, Hon. Okechukwu Okoye. Dr. Nnamdi Okafor was an active participant at the 7th Assembly who devoted his time and energy to represent his constituency. He’ll be sorely missed. On behalf of Anambra State Government, may I use this medium to convey my sympathy to those he left behind, including his family, Awka Constituency 1 and Speaker of the State House of Assembly, Rt. Hon. Uche Okafor, as well as other lawmakers. Indeed, life is ephemeral. May the living continue to reflect on the essence of life and live for the good of the society like Dr. Okafor did.” Meanwhile, while Soludo is seeing life as ephemeral, with likely death of anyone at any given time, the National Chairman of All Progressives Grand Alliance (APGA), Chief Victor Ike Oye thinks differently. To him, the deaths at the state assembly are one too many, and needs to be interrogated. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ ͵˜ 2022

FEATURES

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

Gombe's Commitment to Food Security Segun Awofadeji reports on efforts by Gombe State government to support farming activities, thereby ensuring food security

very economic system is built on the basis of agriculture. Apart from the fundamental role of providing food and raw material, agriculture also provides employment opportunities to a large number of the population, and it's the only sector that absorbs both literate and illiterate population in large numbers. In his 2019 campaign manifesto, Agriculture was among what Gombe State Governor, Alhaji Muhammad Inuwa Yahaya promised to prioritise during his campaigns. He pledged to work based on the promises he made to the people of the state. "As the mainstay of our economy that engages over 75 per cent of our population, we would accord priority to agricultural development in efforts to diversify the economy and ensure food security. Consequent upon this, we shall ensure a timely and adequate supply of farming inputs such as fertilizer, pesticides, seeds, etc. as well as provide agricultural credit facilities to our farmers." According to him, "From available information, the immediate past administration has deliberately refused to procure fertiliser and other necessary farm inputs for distribution to our farmers. I, therefore, will direct the Ministry of Agriculture to work out modalities to promptly address the issue to avoid a looming but avoidable catastrophe. I urge all of us to embrace agriculture, the surest way to employment and poverty reduction in our society." It was a promise made that is being fulfilled under the Governor Muhammad Inuwa Yahaya administration. This sector has been receiving adequate and desired intervention to improve it; and the promises made on the sector are being satisfactorily fulfilled. The state government has continuously assured the people of its determination and commitment towards ensuring self-sufficiency and sustainable food security, stimulating export of livestock and livestock products as well as creating wealth and job opportunities in the state. So far, this administration has keyed into many agricultural initiatives at state, regional and national levels to boost its performances. To this end, in an attempt to increase access to agricultural extension/advisory scheme to farmers in the state, Governor Inuwa Yahaya established across the three senatorial zones, additional five farm service centres in Kalshingi, Lodongor, Dukul, Dukku and Gelengu with some intervention of the NEDC. This project was complemented by another gigantic one that currently helps in the improvement of the sector, which was the establishment of Agricultural Entrepreneurship Training Centre at Garin Tafida to fully equip young farmers with skills and knowledge on how to earn much from the sector while providing the needs of the people. The government is also a key stakeholder in the National Livestock Transformation Program with the Wawa-Zange Grazing reserve as a model project, and are tapping into the great irrigation potentials of its three major dams of Dadin Kowa, Cham and Balanga in order to promote large-scale irrigation activities. The state's farm service centers are being revived to serve as one-stop shops of agricultural services and have allocated about 250 hectares out of the 1000 hectares earmarked for the Gombe Industrial Park for the purpose of developing an Agricultural Industrial Cluster in order to provide room for enhancement of the agriculture value chain through the processing of agricultural commodities that are highly abound. These, together with many donor-driven and private sector-led initiatives are turning Gombe’s agricultural sector around by diversifying its economy, improving productivity, enhancing revenue generation, creating jobs and promoting food security. In his desire to support and empower farmers' associations and other relevant rural-based cooperative societies in order to facilitate easy access to grants and loans, the governor introduced the Cooperative Reactivation Proj-

Governor Muhammadu Inuwa Yahaya ﬂagging - oﬀ sales and distribution of fertilisers for 2022 farming season at Dukul, Kwami Local Government Area of Gombe State

ect (CRP) which benefitted several farmers associations. Through this initiative, a great number of registered farmers associations secured grants and soft loans to improve their activities for improved yields. The governor's interest in dry farming led to the government's giant intervention in irrigation. This saw the construction of 32 tube wells and provision of accompanying water pumps accessories to farmers across the state. Apart from supporting farmers with water pumps, sprayers and chemicals; the governor directed the ministry of agriculture to conduct conditional assessment of irrigation potentials of the state so that more farmers would be drawn into the dry season farming initiatives of the government. On the the procurement of fertiliser for farmers, the governor gave directive to the Ministry of Agriculture that fertilisers be made available to farmers at subsidized rates at the beginning of every farming season. This directive is what the ministry has sticked to to this time, and we've been seeing remarkable outcomes. To further improve on the supply of the fertiliser, the governor upon receipt of experts recommendation on the abandoned Gombe State Fertiliser Blending Plant, leased the facility to a leading producer of quality fertiliser in Nigeria, Tak-Agro & Chemical Ltd, for greater efficiency.

This arrangement has become a win-win for the state— the facility is back to life and its operations will generate revenue to the state, the difficulty in getting fertiliser supplied to the state in adequate quantity and on time is no more; and also, it has created job opportunities for youths in the state. On the occasion of the 2022 Farming Season Fertiliser sales to farmers held at Farm Service Center,Dukul,Kwami local government area, Governor Inuwa Yahaya lamented that "for the 2022 wet farming season, security issues and other challenges have caused delay in the procurement, production and distribution process associated with this exercise". However, he explained that "through the doggedness and perseverance of our Ministry of Agriculture, we have been able to overcome these challenges and we are today witnessing the flagging off ceremony of the sale and distribution to enable our farmers obtain this vital commodity at a subsidised rate for the economic growth and wellbeing of our people. "We will continue to give maximum support for the overall progress and development of the sector", directed that for the 2022 farming season, a bag of NPK 15- 15 fertilizer to be sold at N19,000 per bag. He then called on the farmers of the state to take full advantage of the opportunity to advance the cause of their farming activities, while charging the Ministry of Agriculture and relevant security agencies are hereby directed to ensure strict compliance with the clear guidelines of the sale and distribution exercise. To support the federal government agricultural intervention programs in the state, the governor approved and disbursed all counterpart funds the state government ought to

The state government has continuously assured the people of its determination and commitment towards ensuring self-sufficiency and sustainable food security, stimulating export of livestock and livestock products as well as creating wealth and job opportunities in the state

commit in the implementation of the programs. N45million was paid as counterpart fund for UNDP/GEP project; N20 million was paid as counterpart fund for FADAMA III AF project; and N25 million to Leventis Foundation, Tumu, for training of students on modern farming. As part of the commitment of the state government to agricultural development especially the livestock sector, being one of the mainstays for livelihood and economic emancipation of the people, the governor has keyed into the National Livestock Transformation Plan (NLTP) as well as Livestock Productivity and Resilience Support (L-PRES) project of the Federal Ministry of Agriculture and Rural Development which are aimed at improving livestock production and curbing farmers / herders clashes. "Also, we are committed to ensuring selfsufficiency and sustainable food security, stimulate exports of livestock and livestock products as well as create wealth and job opportunities". Flaging-off of mass vaccination against transboundary animal diseases for the North-East Zone with the support of the Federal Ministry of Agriculture held recently in Gombe, governor Inuwa Yahaya reiterated the commitment of his Administration towards ensuring selfsufficiency and sustainable food security, stimulate exports of livestock and livestock products as well as create wealth and job opportunities. The government under Muhammadu Inuwa Yahaya is also partnering the Nigeria IncentiveBased Risk Sharing System for Agricultural Lending (NIRSAL) towards improving the agricultural and SMEs sectors which is expected to benefit cooperative societies in Gombe through their clustering into segments of the agric value chain for enhanced productivity and profitability. He explained that the support and development of the agricultural sector are crucial to economic development, food security and sustainable livelihoods for the people of the state. "We are determined to leverage on our comparative advantage in agriculture to unlock Gombe’s industrial potentials. It is to this end that we allocated about 250 hectares out of the 1000 hectares earmarked for the Gombe Industrial Park for the purpose of developing an Agricultural Industrial Cluster in order to provide room for enhancement of the agriculture value chain,'’ the governor stated.

T H I S D AY ˾ SEPTEMBER 7, 2022

FEATURES

Sustaining Fight for Gender Equality In Nigeria, deliberate efforts to reduce gender inequality for societal and national growth have kicked into gear by well-meaning organisations, such as Junior Achievement of Nigeria and Union Bank, with a focus on educating, empowering, and liberating women and girls. Writes Mary Nnah

ender inequality represents a major threat to economic global development as world organisations confess its ability to hinder a peaceful, prosperous and sustainable human existence. Across the globe, women and girls are unfortunately still identified as the most marginalised gender, with rampant subjection to a range of issues including pay gap, sexual and domestic violence, lack of access to education or positions of leadership, early marriage, genital mutilation, and many more. Women, under these debilitating conditions, are prone to poverty, oppression, and violence. According to a report by UN Women, in 2020, the number of employed women declined by 54 million. This is despite the fact that they, compared to their male counterparts, have less opportunity to land high-paying jobs. Hence it is unsurprising that they are also generally at greater risk of falling into poverty, as evidenced by the statistics that nearly 60 per cent of women work in the informal economy and an estimated 435 million women and girls globally live in extreme poverty. Gender-based violence is perhaps the gravest violation of basic human rights in the world as of the 21st century. The UN Women reports that one in five women and girls between the ages of 15 - 49 report experiencing physical or sexual violence within 12 months, while another 200 million-plus women and girls in 30 countries have been subjected to female genital mutilation. In exercising their rights to choose when and who to marry, women and girls are again at a grave disadvantage. At least 750 million women and girls in the world were married before the age of 18, the UN Women says. These alarming data indicate the world is far from balancing the scale in allowing women and girls to maximally exercise their fundamental human rights and enjoy equal access to opportunities in society. With progress in establishing an equal world of rights and opportunities for all gender still at a snail's pace and posing a great obstacle for many nations, achieving gender parity has unexpectedly taken centre stage in the global efforts toward sustainable development goals. This explains why the United Nations, in its

LEAD Camp participants during the graduation ceremony

efforts towards a sustainable world in 2030, dedicates Goal 5 of its 17 Sustainable Development Goals to achieving gender equality and empowerment for all women and girls. "Providing women and girls with equal access to education, health care, decent work, and representation in political and economic decision-making processes will fuel sustainable economies and benefit societies and humanity at large," the organisation says, as it tasks member nations to adopt unique strategies to combat the challenge. In Africa, the challenge of gender inequality is even more prevalent. It is projected that achieving gender parity on the continent could take at least a century, and as such, tackling the challenge head-on to meet the UN's standard by 2030 would require the collective, strategic, and relentless efforts of governments, the public and private organisations, and individuals. It would also require a deep understanding of the socioeconomic and socio-political benefits equal gender treatment presents for the continent's growth. Gender equality in the labour market, for instance, if achieved, could add $1 trillion to Africa's collective GDP by 2025, while the continued existence of

a disparity could also cost the continent nearly $700 billion within the same time frame. Fortunately, in Africa's most populous country, Nigeria, deliberate efforts to reduce gender inequality for societal and national growth have kicked into gear by well-meaning organisations with a focus on educating, empowering, and liberating women and girls. Non-profit organisations such as Junior Achievement of Nigeria, and Union Bank – Nigeria’s foremost financial institution, have devoted a significant part of their sustainable development mission to ensuring young girls and women have unrestricted opportunities to thrive in society. Both organisations have, for eight years, forged a strategic partnership to advance the LEAD Camp intervention programme, a long-running initiative to inspire and empower young girls to become high-achieving women leaders in society. With LEAD Camp, young girls are taken through a camp-style programme where they benefit from a series of activities that address critical areas including career development, financial literacy, general health and wellness, and sexual reproductive health. During the programme, participating girls learn from some of the most outstanding and illustrious women across the globe, courtesy of Junior Achievement of Nigeria's association with its global counterpart, Junior Achievement Worldwide. Junior Achievement Nigeria's Executive Director, Foluso Gbadamosi explained that "The LEAD

Camp is to demonstrate that regardless of their socio-economic status, background or career path they choose to take young girls and women, can be successful with the right guidance, mindset, skill sets and network. And we will continue to inspire and provide them with a world of possibilities to thrive excellently.” Signifying its success in advancing women's cause in the country, the programme, now in its 21st year, has played a significant role in developing and advancing the career of over 1,000 girls in Nigeria, churning notable and influential alumni such as Nkechi Eze- Balogun, Founder of Asoebi Bella; Oduolayinka Osunloye, Youth Advisor at IREX; Oyin Olugbile-Adewale, Founder, Parisian Consult; among others. The LEAD Camp programme's latest edition, the eighth collaboration between Junior Achievement of Nigeria and Union Bank, was recently held with participation from over 300 girls. The week-long event was used to provide guidance and improve the skill sets of the girls in areas of financial literacy, entrepreneurship, technology, creative arts, and entertainment. Development sessions in the programme included coding, understanding sexual abuse, and personal hygiene, while the participants also received mentorship from respectable and high-ranking women in the country's private and public sectors. “This partnership reinforces our commitment to the push for gender equality and our focus on supporting the girl child. We are proud to see the impact of the programme on the young girls across the country, and we commend the efforts of the JAN team who work tirelessly to impact them," Union Bank's Brand and Marketing Officer, Ogochukwu Ekezie-Ekaidem said. The success of initiatives like LEAD Camp is a critical indicator of the progress and growth Africa and Nigeria can attain if more public and private organisations, independent societal bodies, and future-forward individuals would play similar active roles in ensuring women and girls enjoy a level playing field in society. For nations on the continent determined to achieve the United Nations' gender parity target in less than a decade, Junior Achievement Nigeria and Union Bank have laid a blueprint worthy of emulation. And this portends hope that the dream of a gender-equal world can indeed become a reality in no distant time.

The Unexpected Impact of High Volume of Road Accidents Nosa Iyamu

round 1.3 million people die globally each year as a result of road traffic accidents. According to new findings by the World Health Organisation (WHO), more than half of all road traffic deaths are among vulnerable road users: pedestrians, cyclists, and motorcyclists. Shockingly, road traffic injuries are also the leading cause of death for children and young adults aged 5-29 years. As a continent, Africa has the highest road accident death rates in the world, with Nigeria topping the list of African countries with the most traffic accident-related fatalities. Speeding is the leading cause of accidents in Nigeria, followed by traffic sign and light violations, wrongful overtaking, and dangerous driving. According to the National Bureau of Statistics, 1834 people died out of 3,345 road accidents that occurred in the country between January and March 2022. These are bleak statistics, made even more grim when the death toll rises among injured drivers, passengers, and pedestrians, following prolonged hospitalisation. How can being taken care of in a hospital have negative outcomes? “When a patient injured in a traffic accident is in the hospital undergoing treatment, they’re often immobile for lengthy bouts of time during recovery. Being immobile for prolonged periods of time increases

the risk of a person developing thrombosis, or blood clots,” says thrombosis specialist and leading Nigerian haematologist, Dr Helen Okoye. Additionally, patients who have blood vessel trauma due to surgery or because of injuries from a traffic accident are even more likely to develop blood clots, According to World Thrombosis Day (WTD), a global movement which aims to increase global awareness of thrombosis, more people die from lifethreatening conditions caused by thrombosis than the total number of people who lose their lives to AIDS, breast cancer, and car crashes combined. Blood clotting is a natural occurrence in our bodies as it stops the blood flow from a cut or injury, but when clots develop unnecessarily, they can become life-threatening. A clot can slow or block normal blood flow and even break loose and travel to an organ, which can cause a heart attack, stroke, or venous thromboembolism (VTE) — the top three cardiovascular killers. Being in hospital is a major risk factor for the development of venous thromboembolism (VTE), explains Dr Okoye. VTE is a potentially fatal medical condition in which a blood clot forms in the

deep veins of the leg, groin, or arm (known as deep vein thrombosis (DVT) and travels through the circulatory system, eventually lodging in the lungs (known as pulmonary embolism (PE). According to data from WTD, up to 60% of all VTE cases occur during or within 90 days of hospitalisation, making it a leading cause of preventable hospital death. Understanding your risk and preventing VTE Because VTE can occur without any warning signs or symptoms and can go unrecognised and undiagnosed by healthcare professionals, it is important that hospitals conduct a VTE risk assessment on patients who are being treated following traffic accidents. This is a simple questionnaire that collects information such as age, medical history, medications, and specific lifestyle factors of a patient to gauge their risk of developing blood clots. Based on the assessment, the doctor will then send the patient for further tests to verify if they do have a blood clot. Some of these tests are a blood test called a D-Dimer, an ultrasound of the arm or leg to look for the DVT, or a CTPA scan of the chest with intravenous dye to look for a PE. It’s crucial for all patients who have been involved in a road accident and who are admitted to hospital to receive a risk assessment, advises Dr Okoye. “If a doctor doesn’t do a risk assessment, the patient or their family should ask the doctor for one. Don’t be scared to be proactive and ask the

doctor,” she says. This is because scientific evidence suggests that VTEs are often preventable, and evidence-based prevention strategies can stop the development of clots in ‘at-risk’ individuals. Treatment of ‘at-risk’ patients Any individual found to be at increased risk for developing blood clots should be given treatment either in the form of anticoagulants, which thin the blood and stop blood from further clotting (but do not break up the blood clots), or thrombolytic therapy (clot busters), or through mechanical devices such as compression stockings. Hospital patients may also be instructed to move around and do foot or leg exercises as soon and as often as possible. Ensuring that those who make it through the other side of such horrible incidents do not succumb to this often overlooked and easily preventable side-effect of road accidents is vital to reducing the death and disability caused by VTE. It’s a sobering fact that not only in Nigeria, but globally, traffic accidents are a serious matter - this in-real-time look at daily accidents paints a stark picture. And, although Africa only has four percent of the world's motor vehicles, African roads witness more than 10% of the world's total collision fatalities - an alarming figure that is only set to grow as urbanisation, motorisation, and population growth increases. -Iyamu works with Nigeria Agency Lead and wrote in from Lagos.

20 T H I S D AY WEDNESDAY SEPTEMBER 7, 2022 TR

UT H

& RE A S O

Wednesday September 7, 2022 Vol 27. No 10011

opinion@thisdaylive.com

www.thisdaylive.com

BEFORE SAILING OFF INTO THE ABYSS Nigerians should vote wisely in 2023, writes GBADEBO ADEYEYE

See page 21 WHY INTERNET CONNECTIVITY IS POOR IN NIGERIA SONNY ARAGBAAKPORE reckons that the harsh operating environment, among others, is affecting internet connection in the country

See page 21

EDITORIAL WHEN THOUSANDS WAIT TO DIE

See page 22

Politicians must be compelled to deliver on behalf of the common good, writes JEREMY GAINES

PUBLIC CHOICE, POLITICS AND POLITICIANS Everyone seems caught up in the febrile environment thrown by the machinations of next year’s election. Politicians, and unfortunately the electorate, are preoccupied with our brand of realpolitik birthed on the axes of religion, ethnicity, region. They serve as a smokescreen behind which notions RI SROLWLFV WKDW VKRXOG EH WKH GHÀQLQJ characteristics of politicians, and who should be adjudged by ability to deliver the public good, gets forgotten. As things stand, a good number of our contemporary politicians appear to have gotten up and declared themselves to be a politician or a candidate for an elected position without having to present any clear political position that they intend to pursue or any leaning to ideological notion tied to a political party. And certainly, these modernday politicians do not exhibit any inclination to deliver the common good. In a twist of Descartes’ “cogito, ergo sum”, our current politicians seem to have emerged solely on the basis of the pronouncement: “I know I am a politician therefore I am one.” If such is the quintessence of politicians, then how can there ever be accountability, as the politician would only be accountable to himself as he and he DORQH KDV GHÀQHG ZKDW KH LV 0RUHRYHU ZKDW does this spell for a society structuring itself on democracy, let alone for the improvement of lives of citizens by delivering superior FRPPRQ JRRG" ,W LV QRW GL΀FXOW WR VHH WKDW such a system of politics is incompatible with a ‘civil service’ given that the latter, if only by name, is meant to serve civil society. :KHUH WKH GHÀQLWLRQ RI SROLWLFLDQ LV devoid of politics or ideals it undermines the ability to deliver the public good. And since politicians are accepted as such, reinforced by WKHLU WZLVWHG 'HVFDUWLDQ GHÀQLWLRQ WKH\ DUH free to pursue their own commercial interests at the expense of public interest. The name politician is, in our current politics, simply eponymous with businessman. The political HVWDEOLVKPHQW GLͿHUV LQ WKLV UHJDUG IURP the business establishment only by degree. In such a situation, there is no polity, just business-as-polity. (ͿRUW DQG UHZDUG DUH FRWHUPLQRXV Seeking to maximise personal reward or UHPXQHUDWLRQ UHODWLYH WR HͿRUW VDGO\ VHHP WR have become a major national preoccupation, and is not lost on politicians. Knowing where the reward, the commonwealth and natural resources are domiciled, makes it easy for our mercantilist politicians to pursue their objective. Based on their uncontested selfGHÀQLWLRQ DQG LGHQWLÀFDWLRQ DQG WKH JHQHUDO sense of entitlement, namely that such reward is due to them as politicians, corruption EHFRPHV D VHOI IXOÀOOLQJ SURSKHV\ $V ORQJ as the political establishment is allowed to set its own rules, and those rules include rewarding itself with unbridled access to our commonwealth and natural resources, the citizens should not complain or cry. Unless

that is they are prevented from voting. Two observations can be made as regards expecting politicians to deliver in the public interest, for the common good: One is causative, the other is sequential. Politicians of their own volition cannot be left alone to deliver public interest. Politicians must be compelled to deliver on behalf of the common good. In other words, the delivery RI WKH FRPPRQ JRRG PXVW EH GHÀQHG DV WKH purpose of politics before the engagement of politicians on the public stage. It follows that the sequence for delivery of the common JRRG FDQQRW EH OHIW WR SROLWLFLDQV WR GHÀQH ,I it is taken as given that what is good for and desired by the people is known and properly GHÀQHG DE LQLWLR WKHQ WKH SROLWLFLDQ PXVW come up with a list of measurable actions he or she suggests he will take to deliver what the public require. This would make for a meaningful scenario for the people to choose politicians who can deliver for the sake of the common good, meaning to improve the nation’s welfare, and enhance general living conditions. Thus, it is incumbent on the electorate to GHÀQH DQG DUWLFXODWH WKH SXEOLF RU FRPPRQ good, politics and politicians, in that order. 7KH VHOI VHUYLQJ GHÀQLWLRQ RI SROLWLFLDQV WKDW subsumes politics to personal interest and ignores the public interest can only warp and stunt the deepening of democracy and development, respectively. This broaches three questions that need to be asked in the context of the current challenges Nigeria faces: What is public LQWHUHVW" +RZ VKRXOG LW EH GHÀQHG" +RZ best can it be delivered? Finding the right answers to these questions, in that order, is crucial if the political space characterised by ‘misalignments’ is to be sanitised in order to create a functioning polity. The alternative is to leave the political establishment to conduct business as usual, meaning pursuit of own business and interest. We do not have the space here to provide anything like exhaustive answers to these questions. And can only point in the direction

It is incumbent on the electorate to deﬁne and articulate the public or common good, politics and politicians, in that order. The self-serving deﬁnition of politicians that subsumes politics to personal interest and ignores the public interest can only warp and stunt the deepening of democracy and development, respectively

of where such answers might be found. In a GHPRFUDWLF V\VWHP WKH ÀUVW TXHVWLRQ QHHG not be answered in terms of what is ‘best for the majority’ but could be answered in terms of ‘providing equal opportunities for all’. The second question intimates that it is the SXEOLF ZKR PXVW GHÀQH ZKDW WKH\ IHHO LV LQ the country’s interest rather than abandoning this to a sub-set (current politicians). The third question brings governance through political agents and institutions into focus. The use of ‘best’ as an adverb points to the inclusion of other criteria such as accountability, ÀGXFLDU\ UHVSRQVLELOLW\ VXVWDLQDELOLW\ transgenerational policies, inclusive economic growth, development, etc. Over the last 60 years, politicians have at various times had an opportunity to RͿHU DQVZHUV ,Q WKH HDUO\ GD\V DIWHU Independence, the answers often drew on Western ideologies. When these were tainted, and their validity called into question after the incursion of military into governance, ideologies were abandoned in favour of expediency and pragmatism. With the way the current democratic dispensation is VKDSLQJ XS LV LW UHDVRQDEOH RU MXVWLÀDEOH WR expect the contemporary politicians to sort this out on their own? How deeply is the SROLWLFDO HVWDEOLVKPHQW QRZ D VHOI IXOÀOOLQJ and self-perpetuating system as to render it politically vacuous as regards the common good? If it is, who should be responsible for establishing a political system that prioritizes the ‘common good’ over all else? What measures are required? One could, however, approach the question the other way round, namely not from the point of view of the political establishment, but from that of the electorate who are SXUSRUWHGO\ RͿHUHG D FKRLFH ,Q D GHPRFUDWLF GLVSHQVDWLRQ E\ GHÀQLWLRQ RQH YRWHV IRU the politician whom one feels will best represent one’s own interests. The underlying assumption is that one’s own interests are best promoted by the nation’s interests being furthered. In other words, one votes for a ‘representative’ of those interests. However, if politicians do not heed any need to represent anything other than themselves, then over and above all those whose votes do not count, it is only rational if large swathes of the electorate choose not to vote. Any vote cast merely contributes to cosmetically cover up a farce of public choice, one in which the key pretence is that the politician in question intends to ‘represent’ interests other than his own. Imagine the following scenario: There is a general election, and no one turns out to vote simply because the candidates in question although have declared themselves to be politicians but failed to state clearly and convincingly how they will represent the interests of those who vote for them. Gaines is Director of The African Politeai Institute

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WEDNESDAY SEPTEMBER 7, 2022

Nigerians should vote wisely in 2023, writes GBADEBO ADEYEYE

BEFORE SAILING OFF INTO THE ABYSS 2QH WKLQJ LV FHUWDLQ ZH FDQQRW OHDUQ anything new from a dope; and those SROLWLFLDQV ZKR EHOLHYH WKDW GHPRFUDF\ LV QRWKLQJ EXW H[SORLWDWLRQ DUH QR EHWWHU 7KDW LV ZK\ $EUDKDP /LQFROQ warned many years ago that “And now, EHZDUH RI UDVKQHVV EXW ZLWK HQHUJ\ DQG sleepless vigilance, go forward and give XV YLFWRU\µ %XW WR PDQ\ RI XV KRZHYHU we can say categorically that there is no strong assurance of achieving any political victory in our country unless 1LJHULDQ FLWL]HQV MRLQ KDQGV WRJHWKHU LQ WR FKRRVH VRPHRQH ZKR LV KLJKO\ TXDOLÀHG IRU WKH R΀FH LQ ZKLFK ZLVGRP intelligence, good character, and guts are the requirements.

The reason is simple. In a time like this, nothing is more important to hardworking Nigerian families than a government that can defend its defenders and protect its protectors! It is WUXH WKDW D OHDGHU PD\ QRW EH DEOH WR VROYH DOO WKH SUREOHPV RI WKH IXWXUH EXW KH PXVW EH DEOH WR VROYH WKH SUREOHPV RI KLV generation. Failure to do that is a failure LQ WKH MRXUQH\ RI OLIH $QG IRU VHYHQ years now, the present government LQ 1LJHULD KDV GHPRQVWUDWHG MXVW WKDW IDLOXUH E\ GRLQJ QRWKLQJ WR UHFNRQ ZLWK VRPH RI WKH EODFN KROHV WKDW WKUHDWHQ to swallow up our entire economy. %HIRUH WKH FRXQWU\ LV ÀQDOO\ VXͿRFDWHG E\ ODPH GXFN SROLWLFLDQV ZKR WKLQN WKDW SRYHUW\ LQ 1LJHULD LV MXVW DQRWKHU casualty of capitalism, we must again UHPHPEHU ZKDW $EUDKDP /LQFROQ VDLG that “You can fool all of the people some RI WKH WLPH EXW \RX FDQQRW IRRO DOO RI the people all of the time”, and stop choosing those who were charged with the trust of holding Nigeria together EXW LQVWHDG EHFDPH D PLVIRUWXQH RI WKH nation as our leaders. $OWKRXJK ZH FDQ EODPH QR PDQ DQG no policy for their failure; circumstances have forced them upon Nigerian citizens VLQFH )RU H[DPSOH ZKLOH PLOOLRQV of innocent citizens are presently facing WKH JULP SUREOHPV RI H[LVWHQFH DQG HTXDO QXPEHUV WRLO ZLWK OLWWOH LQFRPH the political hypocrites in our midst are still denying the dark realities of this moment claiming that progress is taking place in the country. Whereas, our GLVWUHVV WRGD\ LV QRW IURP WKH DEVHQFH of resources, and we are not stricken E\ DQ\ SODJXH RI ORFXVWV &RPSDUHG with many nations around the world, 1LJHULD KDV VR PXFK WR EH WKDQNIXO IRU LQ WHUPV RI UHVRXUFHV %XW ZH KDYH IDLOHG WR

UHDVRQDEO\ XWLOL]H WKH UHVRXUFHV VLPSO\ EHFDXVH WKH FXVWRGLDQV RI RXU HFRQRP\ have failed as a result of incompetence. Theodore Roosevelt once said, “It is not what we have that will make us a great nation, it is the way we use it”. Despite our enormous resources in Nigeria it is so sad that the present lame duck administration in the country has failed the citizens for seven years - failed to give them good education, failed to give them security and failed to help them turn their lives around. Today, our HGXFDWLRQ V\VWHP LV VR EDG WKDW PDQ\ students in our society cannot compete successfully with their counterparts elsewhere; which simply means that a Nigerian student who had spent four years in the university may return home with no additional knowledge than when he or she left home. And with the annual population growth rate in 1LJHULD LQFUHDVLQJ PRUH WKDQ ÀYH WLPHV higher than the growth rate of developed countries, and millions of young children VXͿHULQJ IURP PDOQXWULWLRQ ZKHQ SHU capita income of Nigerian families has EDUHO\ LQFUHDVHG XQGHU WKH SUHVHQW administration, it is not surprising WKDW 1LJHULD KDG EHHQ SUHGLFWHG WR experience a catastrophic increase in poverty within the next one year. 5DFNHG E\ KLJK LQÁDWLRQ D FUXPEOLQJ LQIUDVWUXFWXUH JDUJDQWXDQ GHEW DQG DEQRUPDO HFRQRPLF SROLFLHV WKDW KDYH stopped the nation’s development since WKH TXHVWLRQ QRZ LV ZKDW WKHQ LV *HQHUDO 0XKDPPDGX %XKDUL·V SURPLVH of change? In his inaugural address on March IRUPHU 8 6 3UHVLGHQW *URYHU &OHYHODQG DGYLVHG WKDW ´,W LV WKH GXW\ of those serving the people in the SXEOLF SODFHV WR FORVHO\ OLPLW SXEOLF expenditures to the actual needs of WKH JRYHUQPHQW EHFDXVH WKLV ERXQGV the right of the government to extract WULEXWH IURP WKH HDUQLQJV RI ODERU RU the prosperity of the citizens. And EHFDXVH WKH SXEOLF H[WUDYDJDQFH EHJHWV extravagance among the people, ZH VKRXOG QHYHU EH DVKDPHG RI WKH VLPSOLFLW\ ZKLFK LV EHVW VXLWHG WR WKH operation of a democratic form of JRYHUQPHQW DQG PRVW FRPSDWLEOH ZLWK the mission of the people. Those who are VHOHFWHG WR PDQDJH SXEOLF DͿDLUV DUH VWLOO RI WKH SHRSOH DQG PXVW GR PXFK E\ WKHLU example to encourage consistently with WKH GLJQLW\ RI WKHLU R΀FLDO IXQFWLRQV That plain way of life which among their citizens aids integrity and promotes WKULIW DQG SURVSHULW\ µ 8QIRUWXQDWHO\ in Nigeria, what our own leaders don’t understand is that the country is too ELJ WRR FRPSOH[ DQG WRR GLYHUVH WR EH UXQ LQ DQ LQHͿHFWLYH VW\OH LQ WKH JXLVH of a quasi - democracy. That is why ZH FDQQRW DͿRUG WR KDYH DQRWKHU ODPH GXFN FRPPDQGHU LQ FKLHI LQ QRW D V\FRSKDQW QRW ¶GLVREHGLHQW· DQG QRW HYHQ D SURGLJDO WKH LGHRORJLFDO EURWKHU of Miyetti Allah! Adeyeye is Proprietor, Crown Heights College, Ibadan

SONNY ARAGBA-AKPORE reckons that the harsh operating environment, among others, is affecting internet connection in the country

WHY INTERNET CONNECTIVITY IS POOR IN NIGERIA :LWK QR IHZHU WKDQ RXW RI OLFHQVHG Internet Service Providers (ISP) in comatose as DW 0DUFK DQG RWKHU FKDOOHQJHV EHGHYLOLQJ WKDW VXE VHFWRU RI WKH WHOHFRPPXQLFDWLRQV LQGXVWU\ 1LJHULD PD\ UHPDLQ RQ WKH *OREDO Internet Poverty Index for some time. 2QO\ ,63V DUH LQ EXVLQHVV DFFRUGLQJ WR WKH 1LJHULDQ &RPPXQLFDWLRQV &RPPLVVLRQ 1&& UHFRUGV $QG WKHVH DUH WKH RQHV WKDW minister to the internet needs of Nigerians. 7KH LQWHUQHW LV D EDFNERQH RI WKH GDWD VXSHUKLJKZD\ WKDW FRQQHFWV WKH JOREDO RQOLQH FRPSXWHU QHWZRUNV WKURXJK D ZHE RI ÀEUH RSWLF FDEOHV %HWZHHQ FRQWLQHQWV DQG ODQG PDVVHV WKH LQWHUQHW UHOLHV RQ FDEOHV FURVVLQJ WKH VHD ÁRRU %HVLGHV WKH FDEOH FRQQHFWLYLW\ also rides on satellite even though that too has its own vagaries. %XW LQ 1LJHULD WKHUH LV D FRPELQDWLRQ RI ERWK XQGHUVHD FDEOH DQG VDWHOOLWH ZKLFK LV DOVR PDGH SRVVLEOH YLD 9HU\ 6PDOO $SHUWXUH Terminal (VSAT) that could provide speed of PHJDE\WHV SHU VHFRQG PESV %XW WKH 1&& WKLQNV WKDW D KDUVK RSHUDWLQJ EXVLQHVV HQYLURQPHQW DPRQJ RWKHUV SDUWO\ accounts for poor internet connection in the country. 2QH RI WKH SODJXHV RI SRRU LQWHUQHW LQ 1LJHULD KDV EHHQ WUDFHG WR WKH LVVXHV RI DQWL competition practices in the industry. The 1&& DOVR OLVWV ZKDW FRXOG EH WHUPHG K\GUD headed inadequate spectrum, high price of EDQGZLGWK KLJK FRVW RI 5LJKW RI :D\ DQG ODFN RI JRRG FRUSRUDWH JRYHUQDQFH SUDFWLFH E\ WKH companies. 1&& &KLHI ([HFXWLYH 3URI 8PDU 'DQEDWWD VSRNH UHFHQWO\ DW D IXQFWLRQ LQ /DJRV VD\LQJ WKDW HͿRUWV DUH EHLQJ SXW LQ SODFH E\ WKH UHJXODWRU WR DGGUHVV WKH LVVXHV +H ZDV TXRWHG as saying, “As a result of these challenges, GHOLEHUDWH SROLFLHV DQG UHJXODWLRQV DUH EHLQJ ORRNHG DW LQ WKH &RPPLVVLRQ LQ HQVXULQJ WKDW ISPs and other smaller players in the industry thrive.” 6RPH RI WKH PHDVXUHV SXW LQ SODFH E\ WKH &RPPLVVLRQ LQFOXGH EXW QRW OLPLWHG WR HPEDUNLQJ RQ FRQWLQXRXV SURPRWLRQ RI fair play and orderly development of the Nigerian communications ecosystem as well DV ERRVW FRPSHWLWLYHQHVV RI WKH LQGXVWU\ through provisions of the required regulatory frameworks and interventions in terms of policies, guidelines, determinations among others that will encourage fair play in the telecommunications industry.” 7KH 1&& DOVR FODLPV LW LV PDLQWDLQLQJ DQG mandating more openness and transparency in the activities of stakeholders within the industry in order to ensure healthy competition practices amongst competing licensees. “We are actively engaging in strategic FROODERUDWLRQV ZLWK VWDNHKROGHUV ZKR KDYH crucial roles to play in the growth and development of the Nigerian economy with an emphasis on the telecommunications sector”, 'DQEDWWD ZDV DOVR TXRWHG DV VD\LQJ Some of these challenges account for high FRVW RI EDQGZLGWK DQG DQ HTXDOO\ KLJK FRVW IRU connectivity in that regard. 2I WKH P SRSXODWLRQ FRQQHFWHG WR WKH LQWHUQHW 0RELOH 1HWZRUN 2SHUDWRUV 012V DFFRXQW IRU QHDUO\ VXEVFULSWLRQV ZKLOH WKH ,63V DFFRXQW IRU WKH UHVW $6 RI 4 RI WKH WRWDO FRQQHFWHG VXEVFULEHUV RI WKH ,63V VWRRG DW DFFRUGLQJ WR WKH GDWD UHOHDVHG E\ WKH 1&& 2I WKH DFWLYH ,63V RI WKHP VWDQG RXW LQ WHUPV RI WKH QXPEHU RI VXEVFULSWLRQV

and speed in that regard. In no particular order, these ISPs include Radical Technology Network with its head R΀FH ORFDWHG LQ /DJRV EXW KDV SUHVHQFH LQ $EXMD 3RUW +DUFRXUW .DQR DQG 2QLWVKD The company claims to have high level of customer responsiveness and service quality, a trait that may have earned it a long-standing relationship with its customers and made it one of the most UHOLDEOH ,63V LQ 1LJHULD $ERXW FXVWRPHUV ZHUH FRQQHFWHG WR WKH ,63·V VHUYLFH E\ WKH ÀUVW TXDUWHU RI DQG DOO RI WKHP DUH EHOLHYHG WR EH active. $QRWKHU RSHUDWRU LV $VWUDPL[ /LPLWHG VDLG WR EH D SURYLGHU RI IDVW DQG UHOLDEOH XQLQWHUUXSWLEOH GDWD DQG LQWHUQHW EURDGEDQG 7KH FRPSDQ\ FODLPV LW XVHV ÀUVW FODVV FRPPXQLFDWLRQ WHFKQRORJ\ DQG KDV D UHOLDEOH XQLQWHUUXSWLEOH DQG H΀FLHQW top-of-the-range data solutions in the market. $V RI WKH TXDUWHU RQH RI LWV FRQQHFWHG FXVWRPHUV VWRRG DW DQG DOO RI WKHP DUH EHOLHYHG WR EH DFWLYHO\ FRQQHFWHG ,W FRYHUV ÀYH ORFDWLRQV LQ WKH country. 2QH RI WKH WRS LV &REUDQHW DQ 2GXD &RPSDQ\ ZLWK KHDGTXDUWHUV LQ ,EDGDQ /DXQFKHG LQ &REUDQHW /LPLWHG LV rated as a leading Internet Service and data provider in Nigeria. The company provides every segment of the Nigerian VRFLHW\ ZLWK D UHOLDEOH DQG VHFXUH ,QWHUQHW Service and Data management solution to the digital universe. ,W FXUUHQWO\ RͿHUV FRUSRUDWH LQWHUQHW plans for organisations and medium-sized EXVLQHVVHV RYHU D VWDWH RI WKH DUW UDGLR QHWZRUN LQ /DJRV $EXMD DQG 3RUW +DUFRXUW as well as residential plans. The company KDV VXEVFULEHUV DQG LQWHUHVWLQJO\ DOO RI WKHP DUH DFWLYH WKXV DFKLHYLQJ SHU cent customer activeness. The company KDV SUHVHQFH LQ ORFDWLRQV 6XEXUEDQ %URDGEDQG /WG LV D QH[W generation multimedia service provider ZLWK ÀEUH RSWLFV QHWZRUNV LQ PDMRU FLWLHV LQ 1LJHULD LQFOXGLQJ /DJRV DQG $EXMD ,WV SURGXFWV LQFOXGH VXEVFULSWLRQ DFFHVV WR premium content, TV, Internet and Voice services, as well as connected homes, security, and utility management solutions. 7KH FRPSDQ\ KDV FRQQHFWHG FXVWRPHUV DQG DOO RI WKHP DUH VDLG WR EH active. It, however, has only three points of presence. Aragba-Akpore is a member of THISDAY Editorial Board

22 4

T H I S D AY

WEDNESDAY SEPTEMBER 7, 2022

EDITORIAL

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

WHEN THOUSANDS WAIT TO DIE It is a violation of rights to keep people interminably on death row

solitude is not only detrimental for the psychology of he use of capital punishment as the death row inmates but also negates the international ultimate deterrence for crimes involving treaties, declarations and other documents to which loss of lives is replete with yet unresolved Nigeria is a signatory. moral questions. Those who insist on its It is an inherent violation on their rights and dignity H΀FDF\ DUJXH WKDW WKH IHDU RI GHDWK LV to keep people interminably on death row, especially man’s highest nightmare and that those for cases that have been concluded by the Supreme who know that their crimes will attract the death Court. Some of these condemned persons have spent sentence would think twice before killing another years waiting to die in the hands of the law. They person. Those with the contrary viewpoint insist that live in uncertainty on a day-to-day basis. Excuses hardened criminals will not be deterred by the fear for the delay in executing the death sentences range of death as a consequence of their criminal acts. The from shortage of hang men to the lack of will on the knowledge that the consequence of their homicidal part of state governors who have the ultimate power crime is predetermined death could in fact make such WR FRQÀUP FRPPXWH criminals more brutal. or ameliorate the death This latter argument sentences. goes further to indicate Depending on the gravity of the oﬀence, governors should The growing population that the state, by resorting of those whom the consider exercising the prerogative of mercy to commute some to capital punishment, state says must die is risks being guilty of the death sentences to life or order speedy execution of those who an indictment of our same killing for which mechanism for wielding it is punishing those must die the ultimate power of life condemned to death for and death which is the crimes involving the loss KLJKHVW PRUDO GHÀQLWLRQ RI VRYHUHLJQ SRZHU 2XU T H I S D AY of lives. If the state kills the condemned murderer, state governors must see this situation as a serious EDITOR SHAKA MOMODU the argument goes, it reduces the population by two DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA challenge requiring urgent but delicate exercise and instead of one. Moreover, the state ought to exercise MANAGING DIRECTOR ENIOLA BELLO action. The options are within reach. Depending on greater moral restraint by presenting a more humane, DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU WKH JUDYLW\ RI WKH RͿHQFH JRYHUQRUV VKRXOG FRQVLGHU forgiving and corrective disposition even towards CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI exercising the prerogative of mercy to commute some those who kill others. Therefore, the moral conundrum EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN death sentences to life or order speedy execution of MANAGING EDITOR BOLAJI ADEBIYI of the capital punishment argument encumbers the THE OMBUDSMAN KAYODE KOMOLAFE those who must die. state with a huge burden. Should the state kill those In the latter instance, state authorities should who kill or spare them in order to exemplify a higher H[SORUH GLͿHUHQW RSWLRQV WR DOOHYLDWH UHOLDQFH RQ WKH morality? ancient and gruesome recourse to hangmen using This debate continues to rage among sociologists, T H I S D AY N E W S PA P E R S L I M I T E D mechanical guillotines. Governors should not be EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA moral philosophers and jurisprudence experts GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, shy to go to their respective state houses of assembly without the prospect of an easy resolution. In the ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI to seek approval for other modes of authorised but interim, Nigeria has an urgent crisis in its burgeoning DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, GLJQLÀHG H[HFXWLRQ RI TXDOLÀHG GHDWK URZ LQPDWHV number of inmates on death row. At the Kirikiri ANTHONY OGEDENGBE 6RPH RI WKHVH RSWLRQV VKRXOG LQFOXGH ÀULQJ VTXDGV maximum security custodial centre in Lagos alone, DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI lethal injections, the electric chair or poison pills. SNR. ASSOCIATE DIRECTOR ERIC OJEH 353 inmates are on death row for crimes ranging ASSOCIATE DIRECTOR PATRICK EIMIUHI There is of course no pleasant way to take human from murder, armed robbery to treason. In all, the ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI life by sovereign authority. But in reality, of all the population of death row inmates in custodial and CONTROLLERS DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO powers conferred on leaders, that over life or death is correctional institutions across the country is about TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com the most sacrosanct and sobering. :KDWHYHU PD\ EH WKH MXVWLÀFDWLRQV SURORQJHG

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

LETTERS TRANSFORMING LITERACY LEARNING SPACES /LWHUDF\ FDQ EH GHÀQHG DV WKH DELOLW\ WR UHDG ZULWH VSHDN DQG OLVWHQ LQ D ZD\ WKDW OHWV XV FRPPXQLFDWH HͿHFWLYHO\ ZLWK the world. The ability to read and write is a fundamental human right guaranteed by law and is the foundation for lifelong learning. However, where one learns becomes a major concern as this can ensure the quality and extent of our learning. September 8 every year marks International Literacy Day (ILD), and the theme for this year is “Transforming Literacy Learning Spaces”. A literacy learning space is anywhere the ability to read and write is fostered. It is not limited to formal classrooms but includes libraries, theatres, airports, bus stations, churches, mosques, workplaces, homes, beaches, restaurants and even the streets. The burden of transforming these literacy learning spaces rests on everyone, and it can only be accomplished when we work together. Considering the theme for this year’s ILD, the question arises of how we can contribute to enriching existing learning spaces around us. Given that global societies are characterised by their uniqueness, we need to ensure no one is left behind on this journey to global literacy. Thus, we must reorientate ourselves on what

literacy learning spaces are to accommodate everyone. We also further promote literacy acquisition when there is an awareness and acceptance of unconventional literacy learning spaces. Awareness and acceptance of unconventional literacy learning spaces can be portrayed in the adoption of our immediate environments as a platform for teaching and learning. These spaces can support learners in becoming literate in both indigenous languages and English. Avenues for literacy acquisition are all around us and treating it as such is paramount. They are in our mundane daily activities, and we need to capitalise on this advantage by ensuring everyone has an equal opportuniW\ WR EHQHÀW IURP WKHP 7KH LPSRUWDQFH RI WUDQVIRUPLQJ WKHVH existing learning spaces is that it opens more learning places to meet every individual’s needs and closes some existing gaps. To contribute to the transformation of the literacy learning VSDFHV $,)$ 5HDGLQJ 6RFLHW\ D QRQ SURÀW RUJDQLVDWLRQ KDV been committed to fostering a reading culture and promoting equitable and quality education for sustainable development through its initiatives. The society organises a series of formal and informal activities to promote literacy and a reading cul-

ture in locations across Nigeria and virtual spaces while proYLGLQJ EHQHÀFLDULHV ZLWK LQIRUPDWLRQ DQG OHDUQLQJ UHVRXUFHV to support the attainment of equitable quality education for all. By transforming literacy learning places, equitable learning is guaranteed for all persons irrespective of their backgrounds, gender, language diversity, disabilities and geographical location. Literacy and numeracy rates will be increased, learning outcomes will be improved and everyone will be equipped with the skills necessary to access equal opportunities. To PDNH WKLV IXQFWLRQDO DFFRUGLQJ WR 81(6&2 UHSRUW SROLcies and strategies need to keep up with these transformations by allowing systemic level recognition, validation, and accreditation of the informal and non-formal learning outcomes. The process of building an enlightened and well-functioning society can be likened to the weaving process where the thread is woven into fabric. To make beautifully patterned fabric, one needs to weave assorted colours of thread together with expert precision. Literacy is undoubtedly one of the threads that create the beautiful fabric of every developed society. Ephratah Oyewole and Magdaline Oyoroh are of AIFA Reading Society

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 7, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

S E P T E M B E R

S & P INDEX

6 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Amidst Economic Woes, Seplat, MTN, Others Pay N167.5bn Interim Dividend in H1

Kayode Tokede Following robust profits despite macro economic challenges, a total of seven companies on the Nigerian Exchange Limited (NGX) have declared a sum of N167.5billion as interim dividend for half year (H1) ended June 30, 2022. This is an increase of 30 per cent from N128.85 billion interim dividend reported in the corresponding half of 2021. The seven companies consist of

NGX with the highest interim dividend payout to shareholders in the period, followed by Stanbic IBTC Holdings and Zenith Bank. Interestedly, Fidelity Bank for the first time joined the list of banks to declare interim dividend in H1 2022. In the period under review, MTN Nigeria declared N113.98 billion, representing N5.60 per share to paid out of distributable net income to shareholders as against N91.6 billion, representing N4.50

MTN Nigeria Plc, Seplat Petroleum Plc, Zenith Bank Plc, Guaranty Trust Holding Company Plc (GTCO), Stanbic IBTC Holdings Plc, Fidelity Bank Plc, and Okomu Oil Palm Company Plc. The seven companies in H1 2022 declared a combined profit after tax of N476.86 billion as against N392.86 billion reported in H1 2021. With about 28.1 per cent rise in profit after tax to N181.63 billion in H1 2022, MTN Nigeria lead other listed companies on the

per share paid to shareholders in H1 2021. The CEO, MTN Nigeria, Karl Toriola in a statement noted that, “during the first half of 2022, we made good progress in strengthening the resilience of the business in the face of our increasingly challenging operating environment with rising energy, food, and general inflation putting pressure on consumer spending. “The conflict in Ukraine as well as the implementation

of a ‘zero-COVID’ policy in China, has also put a strain on global supply chains. To mitigate global supply chain and exchange rate risks, we accelerated capital expenditure for network expansion into the H1 2022.” Similarly, Stanbic IBTC Holdings in H1 2022 declared an interim dividend of N19.44 billion in H1 2022 from N12.96 billion in H1 2021 on the backdrop of impressive corporate earnings in

the period under review. For Seplat Petroleum, its interim dividend moved from N6.05 billion in H1 2021 to N6.25 billion in H1 2022 when it declared an interim dividend of US2.5cents per ordinary share of N0.50k each for the consecutive year. The indigenous petroleum marketing company had informed shareholders of the exchange rate Continued on page 25

Banks’ Borrowing from CBN Down 47% as Analyst Predicts Continuous Decline Nume Ekeghe Data collated from the Central Bank of Nigeria (CBN) has shown that banks borrowing from CBN in August 2022 dropped by 47 per cent Month-on-Month (MoM) to N2.4 trillion compared with N4.5 trillion in July 2022. This is as analysts have predicted

to banks through the Repurchase (Repo) arrangement. The financial data by CBN revealed that banks’ borrowing through the CBN’s SLF dropped by 27.4 per cent MoM to N1.06trillion in August from N1.46 trillion in July, whilst banks’ borrowing through Repo arrangement also dropped significantly in August by 55.8per

that with the recent increase in Monetary Policy Rate (MPR), banks would further down the line continue to be conservative in borrowing from CBN. The CBN lend to banks through the Standing Lending Facility (SLF) at an interest rate of 100 basis points above the 14 per cent Monetary Policy Rate (MPR), it also lends

cent MoM to N1.35trillion from N3.07trillion in July. At the end of July Monetary Policy Committee (MPC), the Governor of CBN, Mr. Godwin Emefiele noted with concern the continued aggressive movement in inflation, even after the rate hike at its last meeting, and expressed its unrelenting resolve to restore

price stability while providing the necessary support to strengthen the fragile recovery. In his address, he said: “As regards the decision as to whether to tighten, loose or hold, Members were unanimous and so did not consider both loosening and retaining rates at existing levels at this meeting. “This is because on loosening,

the MPC felt it could worsen the existing liquidity condition in the economy and further dampen money market rate, necessary to stimulate savings and investment. Members also felt that loosening would trigger the weakening of the exchange rate which could Continued on page 25

M A R K E T D ATA A S AT T U E S D AY, S E P T E M B E R 6 , 2 0 2 2 BILLS

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

Yield

103.50

11.63

101.05

13.03

98.76

12.95

110.83

13.05

104.50

12.81

Change Updated Time (%) -0.01 September 2, 2022 0.08 September 2, 2022 0.00 September 2, 2022 0.00 September 2, 2022 0.00 September 2, 2022

MATURITY NTB 13-Oct22 NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23

Discount

CPS

9.00

9.09

3.90

3.93

9.80

10.20

10.00

10.46

Change Updated Time (%) 2, 0.00 September 2022 2, 0.00 September 2022 2, 0.00 September 2022 2, 0.00 September 2022

10.60

2, 0.00 September 2022

10.05

Yield

MATURITY NENL CP I 24-OCT-22 FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22 DLMG CP IV 11-NOV-22 FDHP CP III 17-MAR-23

Discount Yield 21.18 21.83 15.28 15.64 14.46 14.78 17.87 18.50 12.10 12.94

Change Updated Time (%) 2, -0.03 September 2022 2, -0.03 September 2022 2, -0.03 September 2022 2, -0.06 September 2022 2, -0.01 September 2022

OTC F X F U T U R E S CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS SEP 28 439.60 September 2, 1 2022 2022 September 2, NGUS OCT 26 2 441.81 2022 2022 NGUS OCT 26 444.01 September 2, 3 2022 2022 NGUS DEC 28 446.22 September 2, 4 2022 2022 NGUS JAN 25 440.94 September 2, 5 2023 2022

WEDNESDAY, SEPTEMBER 7, 2022 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Spiraling Debts as Fiscal Woes for Next Administration Nume Ekeghe and James Emejo write on the country’s controversial public debt stock that has been on the increase since 2015 and its lack of impact on key macroeconomic indicators

igeria’s rising public debt profile has continued to be the subject of national discourse in recent times. Not that borrowing is bad in itself, especially when it is used for development and creating opportunities for citizens to improve their livelihoods. With current outstanding public debt recorded at N41.6 trillion as at March 2022, over 83 million Nigerians remain in poverty while the poverty rate is more than 40.1 per cent, according to the 2019 Poverty and Inequality in Nigeria report by the National Bureau of Statistics (NBS). It is an aberration that while external borrowing had been on the increase since 2015, the living conditions and key macroeconomic fundamentals in the country have deteriorated. Yet, borrowing, if properly channeled, is supposed to enhance infrastructure, stimulate job creation, and boost the overall growth of the economy thereby leading to improvement in the standard of living. The government keeps arguing that the borrowing remains under its self-imposed threshold of 40 per cent to Gross Domestic Product (GDP). Debt to GDP is currently stood at 23.27 per cent. It is, however, difficult to justify the unfettered accumulation of debts in the face of the dire revenue constraints and lack of evidence on the effective use of such borrowings to boost the economy. A large chunk of oil revenues ends up in subsidy payments and debt serving.

STOCKPILING DEBT STOCK

Highlighting the level of the country’s indebtedness, the Director General of the Debt Management Office (DMO), Mrs. Patience Oniha, during her appearance at the ongoing engagement on the 2023 – 2025 Medium Term Expenditure Framework (MTEF) and Fiscal Policy Paper held by the House of Representatives Committee on Finance had put Nigeria’s debt profile as at March 2022 at N41.60 trillion. Oniha, who attributed Nigeria’s high debt profile to a lack of revenues and approval of the annual budget with a deficit by the National Assembly, which increased the debt stock of the country, said: “As at December 2020, the debt stock of the federal, state governments and the Federal Capital Territory was N32.92 trillion. By December 2021, it was N39.556 trillion. As of March of this year, when we published quarterly, it was N41.6 trillion. On average, the federal government owes about 85 per cent of the total. “We have been running a deficit budget for many years and each time you approve a budget with a deficit, by the time we raise that money because when you approve it, it is giving us a mandate, authority to borrow, it will reflect in the debt stock, so debt stock will increase. Also, note that states are also borrowing. They also have laws governing their borrowings and as debt stock increases so does debt service. Until the issues of personnel, overhead, and capital expenditure are properly addressed in the budget, borrowing would not stop.” Furthermore, she stated that: “A world Bank report showed that in terms of debt to GDP ratio, Nigeria is low but for debt service to revenue ratio, we are very high. So, if you look at tax to GDP ratio of these other countries, they are in multiples of Nigeria. “The World Bank survey report of about 197 countries revealed that Nigeria is number 195, meaning we beat only two countries and that was Yemen and Afghanistan and I don’t think we want to be like those places. “When the MTEF for 2021 to 2023 was being prepared, it is to say, let’s begin to look at revenues because as debt is growing, debt services are increasing. So, the language we used was for debt to be sustainable in the medium term. Sustainable means you can service your debt without difficulty, without it consuming all your revenues because you have very little for other projects.

HARD FISCAL CHOICES POSTPONED

But Nigeria has refused to make hard choices to reverse the trend. Recently, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed sounded the alarm bells when she revealed that the country’s debt service cost in the first four months of the year was N1.94 trillion, N310 billion higher than the actual revenue received during the period. According to her, federal government’s retained revenue for the period was only N1.63 trillion, 49 per cent of the pro rata target of N3.32 trillion. This means that the government had spent 118 per cent of its revenue on servicing its debt. Despite its debt predicament, the government had gone back on its word on cancelling fuel subsidy this year, with a plan of spending not less than N6 trillion on subsidy alone from a budget that is mainly financed by debt. As the 2023 budget is being considered, the minister had revealed that the country may be running a budget deficit of more than N122 trillion next year. This is considering the fact that the government had kicked the fuel subsidy down the road and passing the hard choice of ending it to the next government by choosing a June 2023 end date, a time it would definitely have handed over the baton of leadership. The Minister whilst presenting the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), had disclosed that the federal government would borrow over N11 trillion and sell national assets to finance the budget deficit in 2023. She also said the government’s budget deficit is expected to exceed N12.42 trillion if it should keep the petroleum subsidy for the entire 2023 fiscal cycle. Explaining two scenarios of the budget deficit, the minister said the first option involves retaining the petroleum subsidy for the entire 2023 fiscal year. According to her, in the first scenario, the deficit is projected to be N12.41 trillion in 2023, up from N7.35 trillion budgeted in 2022, representing 196 per cent of total revenue or 5.50 per cent of the estimated GDP. In this option, she added, the government would spend N6.72 trillion on subsidy. She explained that the second option involves keeping the subsidy till June 2023 and that this scenario will take the deficit to N11.30 trillion, which is 5.01 per cent of the estimated GDP. In this option, the PMS subsidy is projected to gulp N3.3 trillion. She noted that the first option is not likely to be achievable based on the current trend while the second option would require tighter enforcement of the performance management framework for government-owned enterprises that would significantly increase operating surplus in 2023.

LOWER OIL YIELDS

Meanwhile, while the government is pilling up debts, it is struggling to generate revenues. Recently, the Central Bank of Nigeria (CBN) disclosed that the country generated a total of N799.10 billion in crude oil sales in the first quarter of the year (Q1 2022), far less than the N2.38 billion oil revenue projection for the period, and represented a 28.3 per cent decline from the N1.12 trillion realised in Q4 2021. Given that oil revenues represent about 80 per cent of the government’s income, the development is particularly worrisome. According to CBN Economic Report, First Quarter 2022, amidst the current fiscal constraints, the report also noted that debt service obligations in Q1 gulped N897.17 billion compared to N428.60

billion in Q4, due largely to the principal repayments and redemption of matured debt obligations. The report added, “Though public borrowing was in tandem with the Medium-Term Debt Strategy (2020-2023) of the FGN, debt levels remained elevated in the review period. At N41,604.06 billion at end-March 2022, the total public debt outstanding rose by 5.2 per cent relative to the level at end-December 2021.” Nonetheless, while infrastructure remains a far cry, unemployment remains at 33.3 per cent amidst rising inflation which had been on an upward trajectory even before the start of the Russia-Ukraine war in February, which had further impacted food and commodity prices across the world. Even though developed economies including the US, UK, and China among others also have high public debt stock, the fact that resources are being effectively utilised in a transparent manner to build social infrastructure that adds value to the economy – makes their cases different from that of Nigeria.

BORROWING FOR THE WRONG REASONS

Experts have always canvassed that while borrowing makes economic sense, it must be for productive purposes such as funding capital projects, which would then translate to growth and development. In fact, the government has attributed the country’s exit from the recent recession to borrowing in order to boost spending. But in recent times, especially amidst the fiscal crisis occasioned by a huge revenue shortfall for the government as a result of the volatilities in global oil prices and other commodity supply gaps; the Nigerian government had resorted to borrowing to offset recurrent expenditures and other non-productive ventures. The country’s public debt rose to N41.60 trillion in Q1 2022 from N39.56 trillion in December 2021, exerting enormous pressure on debt servicing. Although the government has continued to deny allegations that it had been borrowing to offset the salaries of workers amidst the severe revenue constraints, there are reasons to believe that this had been the practice especially to avoid public backlash and avoid humiliation from the opposition parties over its borrowing and economic management. Earlier in June, the revelation came from the then acting Accountant General of the Federation (AGF), Mr. Chukwuyere Anamekwe, who had admitted that the treasury has had to resort to other sources of revenue including borrowing in order to augment the payment of the federal government public servants. Anamekwe, at the opening of a 3-day retreat for members of the Technical Sub-Committee on Cash Management, themed, “Enthroning Fiscal Discipline in Nigeria’s Public Financial Management: A Clarion Call to Stakeholders”, pointed out among other things that there had been an increase in government expenditure due to increasing security challenges and social needs of the citizenry – lamenting that government’s revenues were currently under serious attack and called for the articulated deployment of fiscal discipline and strategies to mitigate identified challenges. His public admission that the present administration may have resorted to borrowing to pay salaries reportedly led to his subsequent removal from the position as acting AGF.

CONCERNS ON BORROWING SPREE

Perhaps only members of the ruling class do not appear to find a problem with the country’s

rising debt profile, apart from the monetary authorities, which recognises the negative impact of the increase exposure to external debt to fiscal sustainability. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has on a regular basis raised concerns about the country’s rising debt profile. Also, in August, the apex bank further expressed worry that budget deficit and public debt could actually exert direct and negative consequences on fiscal sustainability, as these remained essential factors in assessing macroeconomic policies’ credibility. CBN Director, Monetary Policy Department, Dr. Mahmud Hassan, who made the remarks at the opening of the Regional Course on Medium-Term Budgetary Frameworks (MTBFS), organised by the West African Institute for Financial and Economic Management (WAIFEM), also noted that the ongoing turmoil in the global economy had impacted every policy area, including fiscal policy over the past two years, pointing out that, “member countries have experienced a significant worsening in their fiscal balance and dramatic growth in their public debt, which have put them at risk of debt distress and, in some cases, even debt distress.” Hassan, a member of the Technical Committee of the Board of Governors of the West African Institute for Financial and Economic Management (WAIFEM), added that for most member nations of WAIFEM, the prospect of growth that would contribute to a substantial reduction in the debt-to-GDP ratio and regaining fiscal equilibrium is not immediately on the horizon. Also, the Director-General, WAIFEM, Dr. Baba Yusuf Musa, said economic shocks arising from the COVID-19 pandemic, on-going regional conflicts, and the resurgence of domestic health and security issues had complicated fiscal management by disrupting fiscal prioritisation, widening budget deficits, and sharply increasing the public debt of members, adding that, “These difficulties do not appear to be going away anytime soon.” He said, while there was enormous pressure to increase discretionary and non-discretionary expenditures continuously, revenue growth was not keeping pace with even the anticipated moderate growth rates. One of the key justifications by the government for its elevated borrowing was the fact that borrowing was still within the self-imposed threshold – which is now about 40 per cent to GDP.

DEBT MANAGEMENT VS DEBT SUSTAINABILITY

Writing in his presentation titled, “Public Debt and Accountability: Imperatives for Managing Nigeria’s Rising Debt Burden”, renowned economist/Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Abuja Branch, Prof. Uche Uwaleke, pointed out that the country’s “current debt management objective which places reliance on Debt-to-GDP ratio is at variance with debt sustainability”. Uwaleke, a former Imo State Commissioner for Finance, also noted that though the country’s ratio of debt to GDP may be relatively low, “the pre-2005 experience serves as a sober reminder of what can go wrong. As earlier noted, Nigeria’s public debt stock has risen by as much as 238 per cent in just a few years with the external component increasing by over 850 per cent within the same short period”. Continuing he said, “Can a significant proportion of these loans be traced to executed or ongoing capital projects? In sum, government borrowing is not bad. The key challenge is to ensure that they are put to good use and in ways that enable the needed traction to the country’s economy. This underscores the importance of enhancing accountability and transparency in government borrowing.” Also speaking to THISDAY on the controversial Continued on page 27

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 7, 2022

BUSINESSWORLD

INSURANCE

Of NAICOM N4bn Building Purchase and Insurance Sector’s Resistance to Change Controversies trailing the purchase of N4 billion building in Abuja by the National Insurance Commission has been described as the usual volatile behavior of insurance industry workers’ towards innovations, writes Ebere Nwoji

Kari, paid dearly with his second tenure in office for making a move for recapitalisation in the industry. The analysts were of the opinion that the same industry insiders were the ones raising these false allegations whenever innovation are introduced by the commission as a regulator and government will always dance to their tune of arguments and allegations. Questioning how long this would continue to happen, the analyst said government should trade with caution in dancing to the tune of those they described as false whistle blowers if the industry must shift from its present backward position. Following the controversy surrounding recent move by NAICOM to buy a structure in Abuja for its proposed new office complex and NAICOM Academy, the federal government had ordered the suspension of the transaction till further notice and had set up a committee to probe the commission’s intended action.

takeholders in the insurance sector have reacted to the on going Controversies surrounding the intended purchase of a N4 billion property by the National Insurance commission (NAICOM) in Abuja. The stakeholders said given the latest explanation by the commission on the due process followed in the purchase of the property and the dual purpose for which the commission said it wanted to use the property for, it was a step in the right direction. The stakeholders who anchored their support for the property purchase on the dual purpose for which the commission said it was meant for, which are the NAICOM Academy and new office complex for the commission, described the ensuing agitation on possible non payment of staff salary after the purchase and probe by some board members on the usual volatile attitude often exhibited by the industry whenever the regulator attempts to bring innovative change towards uplifting the status and standard of the industry.

NAICOM’S DEFENSE

OPERATORS’ VIEWS

One of the stakeholders and chief executive officer of a big insurance firm in Lagos who spoke to THISDAY on anonymity, lamented that agitations like this is exactly what has kept the industry at its present backward position when compared to its counterparts in other climes. This attitude, he added, has kept the insurance industry in its present position of poor cousin of the banks. The insurance technocrat went down memory lane to recall that agitations like this made recapitalisation in the industry an impossibility and has kept the entire industry at a ridiculous capital base level to the extent that today, capital base of Micro finance bank is higher that capital base of insurance underwriting firms who suppose to be a tripod on which the entire economy stands. He recalled that the last recapitalisation in the industry was done in the year 2007. He noted that despite the high inflation rate in the country, several attempts to upgrade the industry’s capital has proved impossible as similar arguments, probes and thousands of reasons why the commission should not do that have always been raised by some industry stakeholders and their supporters and government through the judiciary had always helped them to have their way. He said these developments in the industry had in the past removed many commissioners for insurance who initiated such changes and had apparently kept the industry at its present stagnant position.

NEW PLAN, SIMILAR INITIATIVES

Commenting on the present move to purchase the NAICOM academy building, the insurance technocrat noted that since the launch of the industry’s medium term plan in 2009- the Market Development and Restructuring initiative (MDRI), both the commission and the industry operators have been working tirelessly to uplift the insurance market standard. He said they are doing this through repackaging of their operations, refining and restructuring of the industry’s products and rebuilding of physical structures housing the various insurance firms. He cited examples of a good number of world class buildings commissioned by NAICOM in the industry after the MDRI launch as the Leadway Assurance building in Iponri, NEM insurance building along Ikorodu road, former WAPIC Insurance building now Coronation Insurance building along Awolowo road, the Insurance house at 5 Moloye street Yaba housing the National Secretariat of the Nigerian Council of Registered Insurance Brokers and the latest being the magnificent insurance house built

by the Nigerian Insurers Association(NIA) at Saka Tinubu, Victoria Island Lagos. He also mentioned the college of insurance and Financial Management house along Lagos Ibadan Express road saying these are world class structures that tend to redefine the future of the industry to give it the much desired global best practice face lift. The insurer argued that if these bodies regulated by the commission should go extra mile in changing the face of the industry through modern and befitting structures, “will it be too much for the commission which stands as the custodian of every thing concerning insurance in the country to have a structure like the one it has moved to purchase.” Describing the ongoing agitations by some staff of the commission and their supporters as the usual propaganda that has continued to retard the progress and advancement of the industry the insurance technocrat said the NAICOM academy was overdue to be established by the industry. This is, he stated, is because there is lack of insurance technical personnel like actuarial scientists, which the commission has been struggling to see that the industry starts breeding at home.

NAICOM’S STAND BEFORE NOW

THISDAY recalled that the Commission had two years back at the investiture ceremony of the former President Chartered Insurance Institute of Nigeria (CIIN), Sir Muftau Oyegule said that it would set up an institution it tagged, ‘NAICOM Academy,’ to provide the training need of regulators across West Africa. The Commissioner for Insurance, Mr. Sunday Thomas, had explained that establishment of the regulators’ training academy was necessitated by NAICOM’s concern for specialised regulators’ training. “It is no longer news that the Commission is committing huge resources to actuarial development in the country in collaboration with the institute through the College of Insurance and Financial Management though the entire process has been affected by the advent of the COVID-19. “What this means in essence is that insurance practitioners must learn to inculcate the new world

order brought about by the COVID-19 experience. This has become an imperative rather than an option,” Thomas said.

FG’S INDUSTRY MANDATE

President Muhammadu Buhari had at the 47th AIO conference hosted by Nigerian insurance industry last year said that the Nigerian Insurance sector needs the right mechanism to thrive and take the lead in Africa. Buhari noted that there was a great future for insurance industry in Africa urging insurance firms in Nigeria to take advantage of efforts by the federal government to grow the non-oil sector of the economy through innovations. “There is a great future for the insurance industry in Africa. We only need to put the right mechanism in place for it to thrive. I assure you that this administration has and will continue to support insurance growth in Nigeria and Africa at large, “he said. Also at the event, Vice President Yemi Osinbajo, had in his closing remarks, charged Nigerian insurers to work towards having homegrown international insurance conglomerates like the country’s banks with operations in many African countries. He said, “Nigerian financial services companies, especially banks, are already in many African countries, the likes of Zenith, Access, UBA. How about insurance companies? We should now be looking at developing homegrown international African insurance conglomerates. The time is now.”

ANALYSTS’ VIEW

Given the present agitation on the purchase of the structure for the insurance academy, industry analysts have viewed that if these agitators were allowed to have their way as has been the case in the past, hardly would the commission as the regulator succeed in any move targeted at moving the industry forward from its present position. The analysts recalled that former commissioners for insurance like the late Emmanuel Chukwulozie and Oladipo Bailey paid dearly with loss of their jobs just because of one innovation or the other they introduced which was misinterpreted by some staff and other stakeholders. They also recalled that even the immediate past commissioner for insurance, Alhaji Mohammed

NAICOM had in its reaction to reports on the planned building purchase defended its action saying: “The attention of Management of the National Insurance Commission, NAICOM is drawn to the above captioned publication in the Vanguard Newspapers of August 29, 2022 in which the Commission was among other things alleged to have deceived President Muhammadu Buhari GCFR and the Federal Executive Council into approving the purchase of a new office building in Abuja. “It was also stated in the publication that the Commission said it was buying a “ready to use magnificent office complex” rather than an uncompleted building. “While the Commission does not intend to join issues with the media, it has become imperative that the general public be availed with the facts as they are. It is on this premise that the Commission state as follows: That the management of the Commission through the Honourable Minister of Finance, Budget and National Planning presented to the Federal Executive Council presided over by His Excellency, President Muhammadu Buhari, GCFR an unfinished property for approval to be acquired as NAICOM Academy and office accommodation following the approval by the immediate past Governing Board of the Commission. “All documents relating to the property clearly state that the property was in an unfinished state. The Commission had prior to FEC approval, obtained a “No Objection” from the Bureau of Public Procurement (BPP) following the valuation of the property by the Federal Ministry of Works and Housing. Adequate due diligence was conducted on the property for acquisition and all relevant approvals were secured by the Commission.” “Provision was made in the 2022 approved annual budget of the Commission for the purpose of acquiring the building for the Commission. The building is to serve the dual purpose of housing the newly established NAICOM Academy, which is an initiative of the present leadership of the Commission to address knowledge gap in the insurance sector regulation and supervision not only in Nigeria but across Africa and beyond and also serve as the new head office of the Commission. “In order to address the problem of low insurance penetration, entrench the culture of insurance in every part of the country and enhance the effectiveness of its surveillance in all the geopolitical zones of the country, the expansion of the Commission’s infrastructural facilities is inevitable thus the Commission requires a befitting Office accommodation to curtail any future office space crises. This clarification has become necessary to clear any doubt in the minds of the public with respect to the process followed by the Commission in its efforts at acquiring the property, ”the commission stated.

BANKS’ BORROWING FROM CBN DOWN 47% AS ANALYST PREDICTS CONTINUOUS DECLINE N143.2billion from N60.76billion deposited in July 2022. Analysts noted that increasing

deposit with CBN is against the backdrop of attractive interest rate. Commenting on this, Head,

Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle Olubunmi, said: “With the increase

in MPR, obviously banks are also able to solicit more money, which is more money coming in from the

private sector. And also the rise in MPR also means that the cost of borrowing from the CBN will also

increase so as a bank, so you are also careful about accessing money at a higher rate.”

AMIDST ECONOMIC WOES, SEPLAT, MTN, OTHERS PAY N167.5BN INTERIM DIVIDEND IN H1 Nneka Onyeali-Ikpe stated that, “We are delighted with our H1 2022 performance which showed strong growth across key performance indices. “With improved efficiency and customer experience around our network, customer transactions have grown considerably as we optimize our balance sheet and build up a large stock of stable low-cost deposits.” In addition, Okomu Oil Palm Company announced an interim dividend of N7 per 50 kobo ordinary shares to its shareholders, translating

into N6.68billion. Okomu oil released its financial report that shows that the company delivered a massive profit of N16.8 billion in H1 2022, 76.6 per cent higher than the N9.5 billion profit in the same period last year. The turnover also spiked significantly by 72.5 per cent from N23.6 billion in H1 2021 to N40.8 billion in the H1 2022. Capital market stakeholders attributed the increasing interim dividend payout to the steady increase in business activities postcovid-19, stressing that companies

operating in Nigeria have maintained stronger fundamentals amid the worst foreign exchange crises, among others. Speaking with THISDAY, the Chairman, Progressive Shareholders Association of Nigeria, Boniface Okezie commended MTN Nigeria, and others for interim dividend payout to shareholders, stressing that these companies stand out despite economic challenges. According to him, “These companies have shown resilience despite domestic and global economic challenges. They have consistently

declared interim dividend as their policy to reward shareholders and we are delighted. “Fidelity Bank interim dividend for the first time in over 30 years is a welcome development. The declaration of interim dividend by the management of Fidelity bank showed the growth of the bank and it is poised to become a Tier-1 bank in Nigeria.” The Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion, said, “It is a good development for seven companies to declare over

N160billion interim dividend in H1 2022. “Their performance showed these companies remained strong post-covid-19 pandemic era and it good for our domestic market. “We have seen stronger earnings and assets for companies on the Exchange. The banking sector has remained consistent in dividend payout to shareholders and Fidelity Bank joined the league.” He noted that interim dividend is another source for investors to make money in the capital market, calling on pensioners, among others

to take advantage of the capital market and invest in fundamental stocks that consistently pay dividend shareholders. CEO, Wyoming Capital & Partners, Mr. Tajudeen Olayinka stated that Zenith Bank, among others, are simply keeping up with traditions of paying shareholders’ a dividend. He added that, “It is also evidence of good showing in the first half of the year by those companies and some other listed companies that may not be paying an interim dividend.”

WEDNESDAY, SEPTEMBER 7, 2022 ˾ T H I S D AY

BUSINESSWORLD

OIL & GAS

FG Urged to Prepare Nigerians for Post-subsidy Fuel Prices

Aruoture Oddiri

f Nigeria ends fuel subsidies in the middle of 2023, fuel prices at the pump will spike. Whose responsibility is it to mentally prepare the residents of Africa’s most populous nation for this change in price? The results of two online polls carried out by Arise tv, the broadcast arm of THISDAY newspaper said the government shoulders this responsibility Results from a poll carried out on the Twitter and YouTube platforms of the broadcast network show that Nigerians expect the government to take the lead regarding preparing the nation for fuel pump prices after subsidies are removed. 44% of respondents picked the government while 43% said the responsibility should be equally shared between government, Economic Think Tanks, the Media, and Labour Unions.

Responding to the poll while speaking to Arise News on the station’s Global Business Report, Partner and Chief Economist at PwC Nigeria, Dr Andrew Nevin said, “There needs to be some communication to Nigerians on planning for what is going to be a major change.” Chief Economist at Coronation Merchant bank, Chinwe Egwim, also responded to the poll saying, “A collective effort is required from the perspective of Government in terms of a policy reform and the media as one of the most powerful tools that can communicate change and articulate the right message to support necessary adjustments to a post-fuel subsidy Nigeria.” On his part, Chief Economist at the Development Bank of Nigeria, Professor Joseph Nnanna, said, “Economic Think Tanks have a role in explaining

the economic implications for Nigerians especially for those at the bottom of the pyramid.” CEO of the CFG Advisory, Tilewa Adebajo, said the responsibility lies squarely with the government: “If Government is not taking the lead in this, then it is not going to work. We do not have enough revenues to service our debts. Our revenues are down because we are paying subsidies and NNPC has remitted little to nothing to the Federation account. The government is in violation of the fiscal responsibility act. If there is no political will from the Government then we will still be talking about fuel subsidies next year.” Dwindling national fortunes have taken a huge toll on the economy with the government suggesting harsher fiscal

times are to come in 2023 if fuel subsidies are retained The Minister of Finance and National Planning, Zainab Ahmed, had recently said the government’s budget deficit is expected to exceed N12.42 trillion if petroleum subsidies are maintained for the entire 2023 fiscal cycle. Ahmed disclosed this while appearing before the House of Representatives Committee on Finance to defend the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). She said the federal government plans to borrow over N11 trillion and sell national assets to finance the budget deficit in 2023. As many Nigerians are aware, the opportunity cost of trillions expended on fuel subsidies is capital expenditure on vital infrastructure like Hospitals, Schools, Broadband Internet, and other pressing needs.

AFAN: Poultry Business at Lowest Ebb, FG, AfDB Move to Over 60% Poultry Farms Out of Business Revolutionise Nigeria’s Wheat Value Chain

Gilbert Ekugbe

The All Farmers Association of Nigeria (AFAN) has lamented that poultry business is currently at its lowest ebb with the closure of over 60 per cent of poultry farms in the country due the rising cost of poultry feed. In a telephone interview with THISDAY, the National President of AFAN, Mr. Kabir Ibrahim, explained that there is an obvious nexus between the price hike in poultry feed and poultry production, which he said would definitely make poultry products expensive and not readily affordable by the majority of Nigerians. THISDAY had reported that poultry feed had risen by at least 168 per cent in the last three years in the midst of

persistent rise in the prices of feed ingredients such as maize and soya. Ibrahim said: “At the moment, one can safely say that poultry business is at its lowest ebb with so many poultry farms folding up. The recommendation that every person should consume at least an egg a day for maximum mental development is not achievable due to escalating prices and scarcity. Poultry that is supposed to be the cheapest source of protein is now a luxury to most Nigerians.” According to him, the current skyrocketing price of feed is making poultry a very difficult business proposition even though it is supposed to have the fastest asset conversion rate. He added that “as a matter

of fact one can safely say that poultry business today is collapsing, unfortunately. “We should make a special arrangement for feed grade energy and protein components of poultry feed instead of the competition now going on between large and small ruminants as well as direct human consumption.” He pointed out that the statistics of poultry farmers who are no longer in production may not be available but stressed that over 60 per cent of poultry farms have folded up. On his part, the Special Adviser, Agriculture Rice Mill Initiative, Dr. Oluwarotimi Fashola, said that the recent hike in price of poultry feeds might not be unconnected to

the fact that Nigeria does not have enough quantity of maize in the country, saying that soya bean is also imported to a large extent, pointing out the need for Nigeria to grow more maize by expanding the cultivation and the yield. The Focal Person, Strategic Delivery Team, Nigeria SAPZ Programme, Federal Ministry of Agriculture and Rural Development (FMARD), Mr. Richard-Mark Mbaram, said that the increase of poultry feeds would happen in the light of the crop failures due to insecurity and the global inflationary trends, advising the need for the nation to ramp up productivity and deliberate industrialisation through emphasis on infrastructure provision.

‘Poor Infrastructure is Nigeria’s Greatest Development Challenge after Corruption’ Dike Onwuamaeze The Lagos Chamber of Commerce and Industry (LCCI) has identified poor infrastructure as Nigeria’s greatest challenge to socioeconomic development after corruption. This was disclosed yesterday by the President of the LCCI, Dr. Michael Olawale-Cole, during the 2022 ICTEL EXPO in Lagos with the theme, “Ensuring Efficient Digital Infrastructure in Nigeria,” where he emphasised the need to give deserved focus to digital infrastructure. Olawale-Cole said:

“Over the decades, next to corruption, poor infrastructure is Nigeria’s greatest socio-economic development challenge. “The ones commonly focused on are power, roads, water. But we dare say, however, that as critical as the listed ones and indeed others not listed are, if Nigeria gets digital infrastructure right, the benefits to the nation’s ICT and telecommunication sectors and on government’s digital economy agenda would be enormous. “Indeed, the multiplier effects of an effective and efficient digital infrastructure

in our country on national development cannot be overemphasised.” He said that virtually everything is now done electronically, thereby making issues like access, Internet of Things, right of way, broadband penetration, policies, regulation, cyber security e.t.c. matters of great concern. He stated that now is the time for Nigerians to ask: “Where are we in digital infrastructure? What are the challenges and the way forward? And who does what, and when?” adding that “the 2022 ICTEL

EXPO is providing a great opportunity to influence national discourse on digital infrastructure in Nigeria. “As an advocacy group and a lead promoter of Small and Medium Enterprises, we appreciate the significance of this to business growth and sustainability and we are ready to lend necessary support to the actualisation of this.” Olawale-Cole expressed confidence that “the 2022 ICTEL EXPO will have significant impact on policy initiatives and advocacy, especially in the ICT and Telecommunication space.”

Gilbert Ekugbe The Federal Ministry of Agriculture and Rural Development (FMARD), and the African Development Bank (AfDB), have announced plans to revolutionise Nigeria’s wheat value chain by replicating the feat achieved in the country’s rice value chain. The Minister of Agriculture and Rural Development, Mr. Mohammad Abubakar, made this known at a stakeholders’ validation workshop of the National Wheat Strategy Document (NWSD) in Abuja. Abubakar said that the NWSD was developed to increase production, income earnings and competitiveness of local production for the smallholder farmers in the wheat sub sector. The NWSD, according to him, is part of the federal government’s commitment to validate the national wheat strategy policy, which is meant to rejig productivity of the wheat value chain. The minister stressed that Nigeria has no option than to boost its domestic production of wheat to meet the country’s demand following the multiplier effects of COVID-19 and the current Russian/ Ukrainian war that have drastically affected the supply of wheat in the international market. He pointed out that the federal government has remained committed to the development of wheat production because of the country’s annual requirement 5.7 million metric tonnes while its domestic production is currently 420, 000 metric tonnes. Abubakar said: “The Central Bank of Nigeria’s (CBN) Statistical Report 2020, showed that Nigeria imports $6 billion worth of wheat from 2016

to 2020, adding that the situation is worrisome and unsustainable for a crop that could be produced locally.” He also seized the opportunity to commend the ministers of Industry, Trade and Investment, Environment, FCT and the president of AfDB for offering support to cultivate 250,000 hectares of wheat this year. Abubakar, therefore, appealed to the minister of Water Resources to partner with FMARD in the area of functional irrigation system during the dry season to ensure that the dream to boost wheat production in the country would become a reality. In his welcome address, the minister of State, FMARD, who was represented by the Director, Federal Department of Agriculture (FDA) Mr. Abubakar Abdullah, said that the ministry’s partnership with the AfDB in wheat production would foster self-reliance and the administration’s agenda to create jobs. In his goodwill message, The Director General of Nigeria Country Department, AfDB, Mr. Lamin Barrow, who was represented by the Chief Agro-Industry Officer, Mr. Tabi KariKari, said Nigeria would become self-sufficient in wheat production and a key exporter of the commodity in the sub-region by taking advantage of the Africa Continental Free Trade Area (AfCFTA). Barrow anticipated that at least 250, 000 hectares would be put under cultivation, in clusters of 100 to 200 hectares in the upcoming dry season and with the support from the bank and other stakeholders that would provide seed, inputs, mechanisation and extension services using the innovation platforms.

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 7, 2022

BUSINESSWORLD

NEWS

How Jobberman is Empowering Northern Youths for a Greater Future Fred Ojeh Jobberman, Nigeria’s leading recruitment platform has released a documentary titled, “Upskilling the North,” which showcases the impact of its Soft skills training on young Nigerians in the north (Kano and Kaduna) and the multiplier effect it has on communities. The documentary details the stories of some of the beneficiaries of the training whose employability and professional careers have been boosted by the Jobberman Soft Skills training. It spotlights the

inspirational stories of Khalilah Yahya Aliyu, Zekiya Garba, Sani Mohammed and Queen Matthews who have been equipped with critical tools, to help them transition into their new roles and increase workplace productivity. Beyond aiding them in their professional quests, these participants also noted that the training program equipped them with multi-dimensional skills that could be applied across different areas of life. “I have learnt invaluable insights that have translated into better professional

and personal relationships for me, “states Khalilah Yayha Aliyu. “For example, I usually didn’t think much about how I gave negative feedback. I just said it anyhow I thought it should be said. But by applying the sandwich method I learnt in the soft skills training, my feedback has been better received and more appreciated, “he added. For some of the participants, sharing the knowledge learnt from the soft skills training has been life-changing for them. “I’m glad to be a community change maker

by teaching other people what I have been fortunate to learn through Jobberman’s soft skills training program, “said Zekiya Garba. “From the time of starting the program till now, I’m proud to say that I have been able to teach more than ten people -old and young- how to improve their job search by writing proper CVs, “Garba added. The training is part of the efforts of a partnership between Jobberman and Mastercard Foundation (a subset of the broader

‘Young Africa Works’ (YAW) to tackle youth unemployment in Nigeria. The partnership aims to train young people in Nigeria and enable them to secure dignified and fulfilling work by 2025. Speaking on the documentary, Jobberman Head of Youth and Engagement and Learning, Innih Ikhide, stated that, “We partnered with Mastercard foundation in 2020 with the sole mission of solving youth unemployment and empowering the Nigerian youths with the requisite soft and employability skills needed

to thrive in the modern marketplace landscape. The success stories from the program that we have detailed in our ‘Upskilling the North’ documentary are very heartwarming and show just how much of an impact can be made when strategic partnerships are struck and powered by a positive vision. We look forward to achieving even much more and building strategic partnerships with key Northern stakeholders as we consolidate efforts towards widening the reach of our training program’s impact”

SPIRALING DEBTS AS FISCAL WOES FOR NEXT ADMINISTRATION public debt accumulation, Wealth Management and Business Development Consultant, Mr. Ibrahim Shelleng, said while debt is not bad per se, “The majority of the spending is used in recurrent expenditure which includes debt servicing, salaries and overheads.” He said, “With the government looking to borrow an unprecedented N11 trillion next year with very little allocation to capital expenditure, this is rather worrisome. Capital expenditure spending is positively correlated with GDP growth and any nation that truly wants to develop should be spending a larger chunk of their budget on capital projects. Sadly, in Nigeria, this is the opposite.”

UNJUSTIFIABLE DEBTS, SERVICING BURDEN

Also, speaking with THISDAY on the issue, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said the government’s continuous borrowing couldn’t be justified especially when debt servicing is gulping almost 100 per cent of its revenues. He said, “The federal government needs to block the loss of revenue occasioned by crude oil theft and serious corruption in the system”, adding that “growth and development will definitely be hampered and we should not be expecting any meaningful infrastructural developments in 2023”.

Gbolade said, “The wellbeing of Nigerians will not also record any improvement given that food inflation is on the rise, cost of production is increasing, the exchange rate is on an upward trajectory and the unemployment rate is increasing significantly with no end in sight. Nigerians should prepare for serious challenges ahead.” On his part, Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said the solution to Nigeria’s debt crisis lies “within our control but we have been adamant”. He said the country needed to heavily streamline expenditure and spend money only on necessities. According to him, “We really can reduce our deficit spending by remaining within our revenue threshold and capabilities. We need to increase our revenues by making all revenue-generating MDAs more accountable. Even the DMO office has advocated for a major reduction in our expenditure profile as a country. “The country will continue to have an uncontrollable debt profile, with all our revenues consumed by debt servicing, if we do not cut down on expenditures.”

IMMINENT DEBT OVERHANG

Associate Professor of Agricultural Economics at

the University of Port Harcourt, Anthony Onoja, warned of a looming debt overhang. He said with the penchant of the government for running an economy with debts and doing little to promote a production-based revenue generation, “debt overhang is not just looming but very inevitable”. He said, “This has grave repercussions for the economic growth and development of the country. With the current debt profile of Nigeria, it has assumed an unenviable position as the highest debtor nation in Africa. “As it is now increasing the country’s debt further by relying on borrowing to run the nation’s economy is pure wickedness, retrogressive and economic theft against the younger generation and the masses.” Onoja added, “If the borrowed money over the years were utilised for promoting productive ventures and infrastructure growth, we would not have been import-dependent. Further borrowing will result in massive unemployment, hyperinflation, and scarcity of foreign exchange with increased devaluation that comes with a high debt profile of a nation, as our foreign reserves will deplete. “With a debt to GDP ratio of 23.27 per cent, Nigeria is unarguably on the wrong side of history and economic management. Nigeria needs not wait until it crosses the threshold of

the debt-to-GDP ratio before stopping deficit financing. “This is because a low debt to GDP ratio is always better because it means a country is producing and selling goods and has sufficient ability to pay back its debt by taking any further debt. As the debt to gross domestic product ratio for a country rises the risk of the country becoming a default also rises. “Nigeria needs to stop borrowing and promote domestic production of goods and services while making greater efforts to reduce cost of governance and increase institutional productivity growth.” Nonetheless, Shelleng had noted that Nigeria’s debt to GDP ratio of less than 40 per cent remained commendable given that countries such as Cyprus, France, Belgium, Spain, Portugal, Greece, Italy, and Canada, to name a few are all above 100 per cent. He said Debt-to-GDP has become the measure by which international investors judge a government’s ability to meet up with its obligations, adding that international lenders continuously monitor government spending deficits, “because if they exceed economic growth, the debt mountain will increase”. “What is more pertinent is the use of the debt, which determines whether it is positive or negative. Investors are more concerned about seeing a clear strategy and seeing spending that will lead to future growth. Sadly, the Nigerian situation is not the case,” he said.

WEDNESDAY SEPTEMBER 7, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 7, 2022

EDUCATION EdoBEST 2.0: Continuing the Tradition of Excellence in Education With the successful implementation of Edo Basic Education Sector Transformation (EdoBEST 1.0), transforming basic education, the Edo government has stepped up with the launch of EdoBEST 2.0, which focuses on senior secondary school and technical education. Uchechukwu Nnaike reports

Edo State Governor, Godwin Obaseki (middle); the Commissioner for Education, Dr Joan Osa Oviawe, (right), with some students during the launch of EdoBEST 2.0 programme in Benin City

he launch of EdoBEST 2.0 in Benin at the weekend also witnessed the launch of the Nigerian Learning Passport, in conjunction with the United Nations International Children Emergency Fund (UNICEF). At the event, Governor Godwin Obaseki said the world is knowledge-driven, and without acquiring the required knowledge to navigate today’s world, one will not get anywhere significant. “Human capacity is what tomorrow’s world needs, and if we don’t give our children what they need, our country won’t be able to compete then.” He stressed that the key to any education reform is the teacher, that is why the state government has trained and retrained teachers,” the governor explained. According to him, teachers are the ones governing the schools, and “once you get the governance” of the school right with a competent head teacher, “he will get the other teachers to work and our children, the students will be okay.” Obaseki added, “We have moved from the situation of ‘our children are going to school’. What we now focus on is the quality and relevance of what they are being taught. For us, education has not been an elitist product, and we must continue that so that our children would have access to school and quality education.” The Edo governor announced a change of the designation of heads of secondary schools to executive principals to give them full responsibility. “They must not also bow to political pressure,” he added. Expressing delight at the giant strides recorded through EdoBEST 1.0, launched in 2018 and which shot the state into national and international prominence, Obaseki said the focus on technical

and vocational education is to move the state from a place where people have certificates but no job to where people have jobs even if they do not have big certificates. “After junior secondary school, our children must have a vocation they are good at. In light of this, we are going to ensure that the state has at least 20 technical colleges before we leave office in 2024,” the Edo governor stressed. “We are also working on 20 mini stadia across the state as we want to produce total and complete students from our schools.” Highlighting areas of focus of the programme to include quality and relevance of what students are taught, access, equity, school governance, financing, secondary and TVET education, he disclosed that next year would be on special education, adult education and tertiary education. Obaseki allayed the fear that the reforms be discarded by succeeding administrations, saying adequate legal frameworks have been made to back up SUBEB, PPEB, and BTVET laws. “Anybody who comes after us and wants to change anything would have to go to the lawmakers, who are the representatives of the people to change such laws. We are also going to implement Child Rights Law,” Obaseki explained. “Parents must do their part. Every parent that can afford it should/must provide

food for their children to take to school.” He further explained that parents must support their child’s academic and co-curricular pursuits. He warned that parents using children under 18 for manual labour and home help would be prosecuted. Perpetrators of all kinds of violence against children, including sexual defilement and physical abuse, will be prosecuted. The governor further warned that beginning September 12, when schools resume, school-age children found loitering or hawking during school hours will be arrested and their parents or guardians prosecuted. Constabularies, PUWOVs and other measures will be implemented to comb the marketplaces and streets during school hours. “School resumes on Monday, September 12 and teaching begins on that day. I will send out a special squad to go out and monitor schools on that day,” Obaseki added. “The Ministry of Education, SUBEB, PPEB and BTVET will be held accountable if teaching does not begin on day one.” The governor also announced the disarticulation of schools from 6-3-3-4 to 1-9-3-4, which will see the separation of JSS from SSS and the conversion of primary schools to basic schools. This will start in September. Also speaking, the Commissioner for Education, Dr Joan Osa Oviawe, said apart from training over 1,500 teachers and 305 executive principals, the 1,000 EdoSTAR Fellows just recruited would be trained too. EdoSTAR- means Edo Supporting Teachers to Achieve Results. “In line with the vision of EdoSTAR, Teacher Appreciation Day has been introduced. On this day, everyone is urged to celebrate our teachers and show them appreciation. EdoSTAR Teaching

Fellowship Programme is not a casual work scheme,” explained the commissioner. “It’s a full-time Earn-and-Learn employment scheme to recruit and groom the next generation of teachers. Teaching is no longer the profession for quacks.” According to her, what separates other government teachers from EdoSTAR fellows is that they are pensionable and earn Teachers Special Allowance. “The EdoSTAR fellows will start earning this upon their automatic absorption into the public service after a satisfactory performance on the job..i.e. they are on time and regular at school, they can teach, and their pupils and students are learning. Fellows will receive continuous training,” Oviawe stated. “Those without the requisite educational qualifications will be supported to get them. All fellows will be trained to meet and exceed the new Edo State Teaching Standards.” The commissioner also revealed that the NPOWER “coming into our school system will be given the opportunity to apply to join the EdoSTAR fellows.” Oviawe added that upon completion of their one-year NPOWER scheme, and based on satisfactory performance, “they will be migrated to the EdoSTAR teaching fellowship, which is a pathway for direct absorption into the Edo State Public Service.” She added that the college of education, which will kick off administratively in September, would provide teachers with continuous professional development and capacity building. Yetunde Oluwatosin and Babagana Aminu, education specialists at UNICEF, lauded Obaseki for introducing EdoBEST 1.0 and the higher version, EdoBEST 2.0, saying the former was an amazing experience in the state.

LASU VC Urges Stakeholders to Partner Government on Technology Funmi Ogundare

The Vice-Chancellor of the Lagos State University (LASU), Ojo, Prof Ibiyemi Olatunji-Bello, has called on stakeholders in the education sector to work in synergy with the government and the ministry of education to institutionalise 21-century technology. Olatunji-Bello, who made the call recently at a two-day 2022 summit ‘Creating a Sustainable Fit-for-Purpose Education Model’, in Lagos, said administrators, policymakers and teachers should channel resources toward ensuring curriculum meets current demands of the future and the methodology relevant and result-oriented.

The VC, represented by the Deputy Vice-Chancellor (Administration), Prof Adenike Boyo, stated that the development of any nation depended on the education quality provided for the citizens. She stressed that the summit was critical to the successful realisation of the THEMES educational goal of the Lagos government. “The theme and sub-theme of the summit are interwoven in order to create a sustainable field for education,” she stressed. “It is impressive that the THEMES

agenda is prioritised, and we are hopeful and confident about the conclusion of the summit.” The Commissioner for Education, Mrs Folasade Adefisayo, commended Governor Babajide Sanwo-Olu for the successful Lagos State Education Summit 2022. Deputy Governor Obafemi Hamzat said the education system in Lagos was designed to make every child better. “So many things have been done in our education system. We have primary school pupils who are coding which is extremely good and engaging them already in critical thinking,” Hamzat stated. “So in Lagos State, it’s not all about statistics, but about the practicality of what we are doing. I think

‘Creating a Sustainable Fit-For-Purpose Education Model’ is a good theme and what needs to come out of this summit for me is what are the next steps for us to take.” The summit had a plenary session with Hamzat, Ambassador Marjaana Sall, Finnish Ambassador for Education), and Mr Tunde Adekola, Senior Education Specialist, World Bank, Nigeria. Others are Mrs Solape Hammond, Special adviser on the Sustainable Development Goal and Investment to the Lagos governor and Dr Femi Ogunsanya, the chairperson of the Association of Private Educators in Nigeria (APEN). They called on stakeholders, particularly teachers, to be committed, passionate, and courageous.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 7, 2022

EDUCATION

UNN Mass Comm Alumni Association Responds with Training Webinar on Research Greg Ugbo

espite the ongoing strike by members of the Academic Staff Union of Universities (ASUU), the members of the UNN Mass Communication Alumni Association (Jacksonites) have continued in their sustained drive to provide monthly continuing education and capacity building training on mixed methods research for the benefit of their members and all interested researchers in Nigerian universities and polytechnics. The ongoing ASUU strike has dealt a tragic blow to university students, especially those in postgraduate programmes with limited time for conducting research to meet their degree requirements. The UNN Mass Communication Alumni Association has rolled out an ambitious programme to assist interested students and teachers with a series of webinars on mixed methods research, which is an inescapable foundation for postgraduate studies. Previous sessions of the webinar series covered an overview of mixed methods approaches and the applications of action research in addressing pressing social problems. This month’s session which was held on Friday September 2 covered qualitative research methods and was covered by five widely experienced research teachers in the US and Nigeria. In attendance were more than 65 participants who joined from across

the country to listen to the presentations and interact with the panellists. Professor Okigbo, formerly senior lecturer at UNN, and pioneer Registrar at the Advertising Practitioners Council of Nigeria (APCON), and now professor emeritus of strategic communication in the US explained the necessity of using qualitative research in mixed methods designs, while Dr. Nuhu Gapsiso of the University of Maiduguri illustrated the various ways of conducting qualitative data analysis. Professor Mustapha Malam of Bayero University provided three fascinating examples of qualitative and mixed methods applications in recent theses research by BUK students. One of his examples came from Balarabe Maikaba’s 2010 dissertation titled “Mass Communication Research in Nigerian Universities (1980-2006): An Analysis of Themes and Trends.” This research showed that different mass communication departments reflected different curricular emphases, despite the efforts of the National Universities Commission (NUC) to promote uniformity among all programmes. UNILAG and BUK emphasized broadcasting, while UNN showed clear interests in print journalism. The results further showed that American style pedagogy has become more dominant in teaching and research among Nigerian communication scholars. The fourth speaker, Professor (Rev. Sr.) Bellarmine

Ezumah of Murray State University in the US explained the philosophical foundations of qualitative methods, gave examples from her research in the US, Nigeria, and South Africa, and concluded by emphasizing that qualitative and quantitative methods are equally valuable, depending on the purposes of our research. She drew attention to the valuable use of qualitative approaches in research situations that call for deeper understanding, especially where we need to explain social reality as constructed through people’s interactions. Drawing from her doctoral dissertation on newspaper coverage of maternal health issues, Dr. Raheemat Adeniran of Lagos State University (LASU) empathized the need for qualitative researchers to pay attention to the problems of using human subjects in research. She also illustrated her versatility in the use of

multiple qualitative research methods with her study of Nigerian journalists’ experiences with fact checking training. She has used thematic analysis, in depthpersonal interviews, and qualitative content analysis in her various research engagements. The presentations drew many comments and questions from the more than 65 participants, who were promised unfettered access to the complete set of the slide deck immediately after the webinar. Many participants expressed interest in further instruction on the uses of computer tools in qualitative data analysis, the sample size question in qualitative research, and the applicability of focus group discussion methods in online research settings. Professor (Rev. Sr.) Ezumah encouraged participants to be receptive to the new computer tools such as Excel, which is not

complicated and comes free in some Microsoft Office packages. These series of special instructional and demonstrative webinars are the brainchild of UNN Mass Communication Association members with Professor Chinedu Mba of Algonquin College, Ottawa, Canada as coordinator, and Dr. Chuks Enwerem of the National Open University of Nigeria (NOUN) as moderator. The topic for next month is Quantitative Research with Dr. Kayode Mustapha Lambe, Head of Department of Mass Communication at the University of Ilorin as the special guest, and Professor Idowu Sobowale (ex-UNILAG) as the guest lecturer. As ASUU strike enters the sixth month, continuing with no end in near sight, postgraduate students in communication and similar disciplines can take advantage of this utilitarian

instructional package on continuing education and capacity building from the UNN Mass Communication Association. As Dr. Marcel Mbamalu, UNN Mass Communication alumnus, former news editor at the Guardian, and now publisher/editor-in-chief at Prime Business Africa noted in his welcome remarks at this webinar, serious students cannot continue to wait indefinitely for the end of the strike but must seek ways to build bridges between “town and gown” by continuing to learn while the strike continues and also practise what they learn in the real world of addressing problems with data through applied action research, using qualitative and quantitative methods, as appropriate. -Ugbo wrote from the Department of Mass Communication, Federal University, Oye-Ekiti

L-R: Chairperson, Lagos State Teaching Service Commission, Elizabeth Ariyo; Chief Executive Oﬃcer, Edumark Consult, Yinka Ogunde; Lagos State Commissioner for Education, Folasade Adeﬁsayo; keynote speaker, Adeola Azeez; Chairperson, Joint Association of Private Schools, Femi Ogunsanwo; Prophetess, Dansol Schools, Aduni Akinyemiju; and Ambassador for Education, Finland, Marjaaana Sall at the opening ceremony of the 14th Total School Support Seminary/ Exhibition in Lagos... recently PHOTO: SUNDAY ADIGUN

Teach For Nigeria Inducts Sixth Difas School Debunks Allegations by Faceless Group Cohort of Teaching Fellows station, Alujo FM, which the Mary Nnah She added, “The group known school and the teachers of being group had a misunderstanding as the LizzyAnjoorinWarriorsFans paedophiles, among other things. Teach For Nigeria (TFN), a non-profit organisation, has formally inducted its Fellows through a commitment pledge/ oath led by the CEO of Teach For Nigeria, Folawe Omikunle. TFN was established to develop leaders to ensure that children in under-served communities can fulfil their potential regardless of their socio-economic background. This year, the 319 Teach for Nigeria Fellows underwent a five-week hybrid training, which kicked off virtually on July 31, 2022. A two-week residential training at Greensprings School, Lekki Campus, Lagos followed, running from August 1-16. The Teach For Nigeria Fellowship is a leadership development programme that equips fellows with teaching and leadership skills to effect change in their classrooms and beyond. Every year, Teach For Nigeria recruits promising graduates, engages them through an intensive pre-service training institute, and then places them in under-served schools where they make a remarkable impact and contribute to changing the trajectory of their learners. The guest speaker at the event, the Director of Enterprise Development Centre of the Pan

Atlantic University, Dr Peter Bankole, told the fellows, “When you do what you do with your whole heart, and you can do it for free and you’re still happy, that is not work, that’s a mission.” He added that the fellows were the agents of change who would drive the needed change in the education sector. Blessing Adeyemi, one of the fellows, who delivered a valedictory speech on behalf of the others, said, “We have not just been taught the art of teaching, but there’s been a transference of the heart of collective leadership to a shared vision.” 0Present at the event was the Chairman of the Ogun State Universal Basic Education Board (SUBEB), Dr Femi Majekodunmi, represented by the Board Secretary, SUBEB, Mr Wasiu Kuye, and the Commissioner for Education in Lagos, Folashade Adefisayo, represented by Dr Olufunke Oyetola, Tutor General/Permanent Secretary (TGPS), Education District 3 was also in attendance. “As you go out today, I want to encourage you to be good ambassadors, be an agent of change because education will take Nigeria to a greater level,” Adefisayo charged the fellows.

The Director of Studies at Difas School, Ikorodu, Taiwo Jojolola, has debunked several allegations levelled against her by a group under the aegis of Lizzy Anjoorin Warriors Fans. She described the allegations as false, despicable, and a needless attempt to defame the character and integrity of the school on social media. Jojolola alleged that trouble started after the school placed an advert on an online radio

with. “Getting to the root of the matter, we realised that the threat and attack against Difas School are not directly a result of any issue they have with the school. Rather, it is more of a revenge plan on Alujo FM, whom Lizzy Anjoorin Warriors have vowed to ruin because of personal issues Difas School knows nothing about,” Jojolola told journalists during a press briefing.

told Difas School to remove her advert from Alujo FM because they are coming after anyone that tries to do business with Mr Sikiru Adekola, the owner of Alujo FM. When Difas School refused, they increased their threats and blackmail.” Aside from threats to her life, she also claimed that the group vowed to bring down her school by all means. According to her, the group accused Difas of being a ritualist

She said the matter had been reported to the appropriate authorities. “We have recorded glorious academic progress and excellence in all our activities. Difas School has been a home away from home for all her students and pupils,” added Jojolola. “Parents of Difas School and everyone that knows Difas know that Difas School is a big blessing to Lagos state and Nigeria at large.

Experts Advocate Technology to Deepen Access to Quality Tertiary Education Uchechukwu Nnaike

Education experts, including administrators of tertiary institutions in Nigeria, have been urged to leverage technology to deepen access to quality tertiary education. This was the submission during the August edition of EdTech Mondays, an initiative of the Mastercard Foundation, in partnership with the Co-creation Hub. The virtual roundtable, moderated by a social engineering practitioner, Joyce Daniels, featured panellists such as the acting Head of

Department, Environmental Health Sciences, National Open University, Nigeria (NOUN), Oluremi Saliu; an Information Technology scholar, NOUN, Michael Asefon and a lecturer at the University of Ibadan, Oluwatoyin AjiloreChukwuemeka. Speaking at the roundtable with the theme ‘Digitising Higher Education in Nigeria: Opportunities and Challenges’, Saliu saw digital learning as the driver for learning in institutions such as NOUN, noting that the COVID-19 pandemic was an eye-opener on the many possibilities available to acquire

education. She mentioned that tertiary institutions in Nigeria had begun using e-learning, with NOUN enjoying a robust learning environment with students accessing educational resources. Asefon, a software engineer, said the benefits of digital learning could not be overemphasised. He advised ed-tech innovators and university administrators to provide training and needed infrastructure to facilitate easy adoption of e-learning, both by the students and teachers. According to AjiloreChukwuemeka, the challenge

with adopting digital learning does not lie with infrastructure and training alone but with behavioural change on the part of students and teachers. She stressed that many students and lecturers still found adapting to online learning strange because it was introduced as a stop-gap in the heat of the COVID-19 pandemic. She also stressed the need for telecommunication companies and education stakeholders to find a way to subsidise the cost of data and devices to enable students to have easy access to online learning.

T H I S D AY ˾ ͵˜ 2022

CITYSTRINGS

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Providing Water for Underserved Communities Each year, millions of people die from diseases associated with unsafe drinking water, sanitation and hygiene. Therefore, as a demonstration of citizen diplomacy championed by well-meaning Americans and Nigerians, the Bizzell Global group recently inaugurated two water projects donated to underserved communities in Odo Ayedun-Ekiti and Oke Ako-Ekiti, both located in Ajoni Local Council Development Area in Ekiti State, Chiemelie Ezeobi reports

ccording to United Nations Children's Fund (UNICEF), each year, millions of people die from diseases associated with unsafe drinking water, sanitation and hygiene. Unfortunately, young children are particularly vulnerable as WASH-related diseases remain among the leading causes of death in children under five, and they contribute to malnutrition and stunting. According to statistics, each year, 300,000 children under five die due to diarrhoea linked to inadequate WASH. Despite significant progress, 2.2 billion people worldwide do not have safely managed drinking water services. Over half the global population, 4.2 billion people, lack safely managed sanitation services. Which is why Goal Six of the Sustainable Development Goals (SDGs) aims to ensure availability and sustainable management of water and sanitation for all given that water and sanitation are critical to the health of people and the planet. Goal Six not only addresses the issues relating to drinking water, sanitation and hygiene (WASH), but also the quality and sustainability of water resources worldwide given that improvements in drinking water, sanitation and hygiene are essential for progress in other areas of development too, such as nutrition, education, health and gender equality. Keying into SDG Six These and many more others were reasons why Bizzell Global recently inaugurated two water projects it donated to underserved communities in Ekiti State. The beneficiary communities are Odo Ayedun-Ekiti and Oke Ako-Ekiti, both located in Ajoni Local Council Development Area in Ekiti State. The projects were donated as part of Bizzell Global’s corporate social responsibility and in furtherance of SDGs Goal 6 on Clean Water and Sanitation. According to the group, it was particularly geared towards expanding international cooperation and building capacity in developing countries for water and sanitation related programs. Bizzell Global is a strategy, consulting, and technology firm that designs innovative solutions to help build healthy, secure, and sustainable communities in the United States of America and around the world. Essentially, Bizzell leverages the combined experience of diverse subject matter experts to develop data-driven, research-informed answers to the world’s most complex challenges. Saving Lives For Dr. Anton C. Bizzell, the Group Chief Executive Office of Bizzell Global, the goal is all about saving lives. He said: "Water saves lives. Without adequate water, we will continue to have health challenges within communities." Giving a breakdown of what was done, he said the facilities have standard boreholes 100m deep powered by a Grundfos grade one solar powered pump of over 120m capacity and comprises a 5,000 liters capacity ground tank that first steps down the water received from the water table before transmitting through two fiber cylinder bottle water treatment plants, and then sends the water to the 10,000 liters overhead tank before delivery to the water point platform to be fetched by end users in the community. Also, he said it is powered by state of the art energy efficient solar panels and all found in one facility can be found in the other. "We are very proud of this intervention which is pursuant of SDGs Goal 6 on Clean Water and Sanitation. We are gratified that we have contributed tangibly to expanding international cooperation and building capacity in developing countries for water and sanitation related programs," he added.

Consolidating Relationships For Mr. Akin Rotimi, a community leader and the facilitator of the project, the initiative goes a long way in consolidating the cordial relationship between Nigeria and the United States of America, adding that it is a demonstration of citizen diplomacy championed by well-meaning Americans in collaboration with Nigerians who have worked together to deliver the project. He said: "This project was delivered through Bizzell Global’s participatory development model that ensures all stakeholders were carried along in the design and construction of the project. "It is noteworthy that the projects were conceptualised and the process of geological surveys, and approvals by Bizzell Global started since last year, long before I knew I was going to run for office. I hope this is an encouragement to our people at home and abroad to participate meaningfully in the development of our homeland. I will do more knocking on more doors and lobbying on behalf of our communities because government cannot do it alone."

One of the state of the art water projects

L-R: Mr. Akin Rotimi, project facilitator; Ekiti State First Lady, Mrs. Bisi Fayemi; Dr. Anton C. Bizzell, the Group Chief Executive Oﬃcer of Bizzell Global (project donor); and His Royal Majesty Oba Dr. Solomon Ilesanmi Ajibade JP (Ajigbotoluwa I), the Owa of Odo Ayedun at the inauguration of the water projects Increasing Global Footprint Beyond the SDGs, Rose Khasiala Amolo, Vice President Global Programs of Bizzell Global said it is a big step in their objective to increase their footprint of international development across Africa, the Middle East, and other parts of the world. Amolo said: "We are proud to have worked with stakeholders in government and the beneficiary communities to achieve these projects which would impact thousands of people, and measurably improve outcomes in health, the environment and economic empowerment.” Appeal for More Inaugurated by Ekiti State First Lady, Erelu Bisi Fayemi in the presence of Dr. Anton C. Bizzell, the Group Chief Executive Office of Bizzell Global, she went on to commend the CEO about the philanthropic work he continuously

champions, just as she appealed for more of such developmental projects. She said: "I have heard a lot about your work and impact, and we are honoured to have you and your delegation visit us here to identify with us. What you have done today is phenomenal and instructive to other organisations around the world - if we are to achieve the SDGs in the global south, the private sector has a key role to play. "I appeal to you to favourably consider the request to do more for our people, and support government’s effort to improve living conditions and lift as many people possible out of poverty. "You will find the Government and people of Ekiti State – the land of honour – to be people of integrity, who will always follow through with commitments they make to you. " My charge to the beneficiary communities is that you take full ownership of the projects and ensure they are protected and well maintained. You must show appreciation by demonstrating to donors and development partners like Bizzell Global, that you are serious about development, and responsible enough to sustainably put such interventions to good use. "

Water saves lives. Without adequate water, we will continue to have health challenges within communities. We are very proud of this intervention which is pursuant of SDGs Goal 6 on Clean Water and Sanitation

A Community's Gratitude The traditional ruler of Odo Ayedun-Ekiti, one of the beneficiary communities, His Royal Majesty Oba Dr. Solomon Ilesanmi Ajibade JP (Ajigbotoluwa I), the Owa of Odo Ayedun, expressed his gratitude on behalf of the community. To show that in practical terms, they conferred an honorary chieftaincy title on Dr. Anton C. Bizzell, in appreciation of his philanthropic gesture. According to the traditional ruler, "He who brings water brings life. Water is so central and important to life, hence the adage: “A ki n bomi sota” (Water has no enemy). This intervention is a giant step in finding a lasting solution to one of the greatest needs of the community. The importance of good supply of water cannot be over-emphasised. "Good, clean and well treated water prevents water-borne diseases such as diarrhoea, cholera, and guinea worm epidemic etc, and improves economic activities in the community." Social Impact Being involved in high-impact fields that address critical issues of our time, the group's social impact has been far reaching. Accordingly, Dr. Anton said: "Bizzell is committed to building healthy, secure, connected and prosperous communities around the world. Bizzell recognises the importance of investing in communities where we exist around the globe. "Through positive relationships, we support the resilience of communities where we operate and work closely with communities and local organisations to create solutions and allocate resources to enable sustainability within the communities. "Bizzell was founded with the goal of creating high, social impact through healthcare, economic development, and youth empowerment worldwide. We believe healthy people are productive citizens. "Therefore, we are committed that every person has the opportunity to receive adequate healthcare and employment to sustain themselves, their families, and their communities." On Bizzell and its employees’ ability to highly impact social change, he said it is driven by four core tenants "centralised focus on investing in people and their communities; commitment to an inclusive, diverse, and collaborative workforce; equity, inclusion, and shared prosperity for all employees; and an emphasis on sustainable corporate investment at home and abroad. Summarily, Bizzell’s global philanthropic efforts focus on the provision of effective, efficient, timely, and fiscally responsible health, youth, and economic solutions that improve the overall quality of life for people in low, emerging, and middle-income countries.

T H I S D AY ˾ SEPTEMBER 7, 2022

SECURITY

Community Partnership as Panacea for Accountability, Effective Policing Stakeholders at the recently held Lagos State Stakeholders Forum on Police Accountability, SFPA, Quarterly Meeting and Awards Event for Outstanding Police Officers, organised by the Rule of Law and Accountability Advocacy Centre, RULAAC, posited that effective community policing and police accountability can only be achieved in Nigeria through a committed and healthy relationship between the Nigerian Police Force and members of the community. Sunday Ehigiator reports

L-R: RULAAC’s Executive Director, Okechukwu Nwanguma; Lagos State Commissioner of Police, CP Abiodun Alabi; and Divisional Police Oﬃcer (DPO) Anthony Division, CSP Patricia Amadin

he notion of police accountability is embedded into the entire concept of community policing. Community policing focuses on developing relationships between the Police and community members to collaboratively identify and solve problems. Community-oriented policing programs rest on the view that the police and citizens should experience more nonthreatening, supportive interactions that should include efforts by police to listen to citizens, take seriously the citizens’ definitions of problems, and solve the problems that have been identified. It is a well-known fact that the police are more effective when they have the trust and support of the community which they are trying to protect. If community members feel comfortable talking to police without fear of violating their dignity, they are more likely to provide useful information and collaborations in fighting crime. This has the potential to reduce citizens’ fear and suspicion of the police and improve citizens’ evaluations of the police. Accountability In less than two weeks between July 29 and August 8, 2022, no less than three police officers have gone through Police Orderly Room Trials and were dismissed on accounts of their involvement in various acts of misconduct. The prompt and decisive disciplinary actions taken against these officers on the directives of the Inspector General of Police (IGP), Usman Alkali Baba, is an indication of an increased determination by the IGP to combat impunity for corrupt practices and unprofessional conduct in the NPF. While this is commendable as a first step in the right direction, there have been varied opinions regarding the appropriateness of these measures, with others suggesting less severe measures such as demotion, suspension, fines, downward review of salary, or jail term. Even though these suggested measures could also effectively serve as deterrence to others alike, it must be stated that police abuse breeds negative public perception and resentment and destroys public trust. The #EndSARS protests are a good example of the consequence of a lack of public trust in the police, occasioned by years of police impunity, and seemingly lack of appropriate punishment meted out on erring officers. Punishment is very important for deterrence. Therefore, the IGP’s renewed commitment to addressing impunity in the police is a welcome development. These steps are necessary to improve the image of the police, build cordial police public relations and restore public trust and partnership. Accountability is essential for legitimacy. Community policing or democratic policing

cannot thrive without accountability. Upholding Police accountability can therefore be useful in building police-community relationships and trust, assisting with community integration, facilitating criminal and intelligence elicitation and distribution, identifying and isolating bad actors and ultimately helping achieve effective service delivery for the police. RULAAC’s Position In his opening remarks, RULAAC’s Executive Director, Okechukwu Nwanguma said it is necessary for the police leadership at all levels to send out a loud and clear message to personnel that it will no longer condone or tolerate corruption, abuse of police powers, and law enforcement methods that do not invite public support. He said while RULAAC welcomes disciplinary measures against erring officers, it was also important to address the root causes of police misconduct, especially by the junior ranks. According to him, there is a preponderance of opinion that some of the bad behaviours by junior officers are carried out at the instigation and/or orders of some of their superiors or supervisors. “When they get caught, their complicit superiors abandon them to their fate or are unable to protect them from repercussions, and they become scapegoats while their superiors go scot-free. “Many believe that this is why those mainly affected are the junior ranks. This is probably why Amnesty International, in one of its reports said corruption at the top makes change difficult at the lowest levels.” He said accountability was not solely punitive, but also includes building the integrity of systems and processes. “One thing we see is that there's a human resource management

L-R: Former O/C, X-Squad, Lagos State Police Command, CSP Abubakar Aliyu; Assistant Commissioner of Police (ACP) Taiwo Kasumu; Divisional Police Oﬃcer (DPO) Anthony Division, CSP Patricia Amadin; RULAAC’s Executive Director, Okechukwu Nwanguma; Lagos State Commissioner of Police, CP Abiodun Alabi; Executive Director, Crime Victims Foundation, Mrs Gloria Egbuji gap in the NPF. The quality of welfare and training given to the police personnel has a significant impact on their operational efficiency and behavioural integrity.” He, therefore, urged the Inspector General of Police to create a structure that not only punishes erring junior ranking officers but also senior officers indicted in the offence. Police-community Partnership Giving his keynote address on ‘Police Community Partnership; Panacea for Effective Police Performance’, Lagos State Commissioner of Police, CP Abiodun Alabi, admonished Nigerians not to only see the police as friends but as family and cooperate with them in policing society. He said the IG has initiated a policy of reward and punishment in the force which has drastically dealt with unethical behaviours within the police system. “Reward for outstanding performance of police officers, and punishment for those found wanting or found engaging in unethical behaviours. This is one of the things that is sanitising the Nigerian Police Force today in the country.” He said there is a need for the police to constantly engage members of the community, and imbibe intellectual acts of community policing. “You will agree with me that community engagement builds deeper, stronger and lasting relationships between the police organisation, public organisation, and members of the community. “It fosters a kind of collaboration and synergy in a way which makes policing easier for us because we rely on information and intelligence to do our work, and we can't gather information without the support of members of the community. Hence, there is a need for police partnerships with members of the community for proper and effective policing.” The CP also equally noted that crime prevention cannot be holistic without input from members of the community. “There is no way you can prevent crime without working in synergy with members of the community, as critical stakeholders. Constant community engagement is creating more productive and cooperative relationships between the police and the community.

There is no way you can prevent crime without working in synergy with members of the community, as critical stakeholders. Constant community engagement is creating more productive and cooperative relationships between the police and the community

“To enhance this relationship, there must be constant consultation in terms of meetings, and that is why in Lagos here, I instructed all my Area Commanders and DPOs that once a fortnight, there must be critical stakeholders meeting their various areas of responsibilities.” Human Rights Position Speaking on behalf of the National Human Rights Commission, Nneka Anigbo noted that records have shown that Police Community engagement in Lagos State presents one of the most effective ways of reducing crimes and enhancing respect for human rights. “Police Accountability Forum has strived over the years to ensure that we interface with the Police in addressing some critical issues which often arise in the course of our daily lives. “Police Accountability’s Forum’s platform presents a channel through which real-life impacting complaints are addressed and resolved, ideas are shared and feedback are obtained amongst the Police and relevant stakeholders On Crime, civil rights and other related issues. “We’ve often called on the police to intervene in some difficult cases and extraordinary periods of emergency, and these complaints are promptly treated. On the other hand, we’ve had to sometimes give the Police useful information and explanations from civil society's perspective which has also helped to alter how the police would have otherwise reacted. All of these have profoundly and positively affected the relationship between the Police and civil society.” She, therefore, called for more support from the Lagos State Police Command. Awards and Recognition The high point of the August event was the presentation of awards to four outstanding police officers who have distinguished themselves at various times in the course of rendering their services to Nigerians. They include ACP Taiwo Kasumu, for Upholding Professional Policing Standards and Outstanding Performance, as DPO Igando Division, Lagos State Police Command between July 2018 and December 2020. Former O/C, X-Squad, CSP Abubakar Aliyu, for effective community engagement and upholding police accountability as O/C, X-Squad in Lagos State Police Command, between June 2018 and July 2021. DPO Anthony Division, CSP Patricia Amadin, for effective community engagement, courageous and exceptional performance, as DPO Anthony Division, Lagos State Police Command and former DCO Eruwa Police Station, Oyo State Police Command, ASP Adeyemo Ogunyemi, for exhibiting uncommon professionalism and restraint in the face of a provocative attack while on duty between January 2020 and August 2020, during the Covid-19 lockdown enforcement.

T H I S D AY ˾ ˜ SEPTEMBER 7, 2022

BUSINESS/MONEYGUIDE

Industrialists Make Case for Favourable Policies to Boost Manufacturing Sector Oluchi Chibuzor With the increasing call for the nation to diversify its economy away from oil and gas, industrialists have urged the federal government to initiate policies that would reduce the unfavorable business environment many industries are currently facing. This, they noted, has caused a lot of Nigerian industries not to be breaking even as a result of several factors beyond their control. Speaking at his investiture as the 38th President of Rotary Club Agbara held in Lagos, Uchenna Okafor, asserted that building of a skill and vocational centre during his tenure remain topmost priority, noted many industrialists are facing enormous challenges. “We all know the economic challenges we are all facing in this country at the moment, especially with the issues surrounding foreign exchange and other so many challenges. “Government agencies and parastatals are looking for funds

because the fortune of our oil is dwindling by the day and so they have unfortunately pounced back on the manufacturers whom they are supposed to be supporting and encouraging to do better; because we are playing a very vital role in our economy. We provide jobs for our teeming youths, it is unfortunate the leadership of the country does not respect that vital role that we are playing instead they are frustrating industrialists and companies.” According to him, despite all these challenges they would continue to encourage more people to go into manufacturing irrespective of the numerous setbacks in the country. “We are committed to building a vocational centre for the youths to learn new skills and see the potential by discovering knowledge. SMEs are the live wire of our economy, instead of the government growing them, the political class are killing these vital engines of the economy. “How else can you do that? Is

by implementing viable economic policies that will help to grow SME’s and industries. There are so many things the government can do to enhance the life of SMEs in this country. If power and infrastructure is better off than what we have today, SMEs will spring up and provide jobs and stimulate the growth of the economy, “he said. Speaking also at the event, the Managing Director, Jocaro Nigeria Limited, Dominic Okafor, pointed to the impact of high inflation, lack of stable power supply and high cost of diesel as factors contributing to many industrialists not breaking even in the country “Everybody knows that due to the high inflation in Nigeria and the epilectic power supply a lot of people in business are not finding it easy; because our money is almost worthless which has now made the cost of a liter of diesel go for N800. This has made it really difficult for a lot of people who are generating their own power not to breakeven, “he said.

L-R: Programme Director, LEAP Africa,Amabelle Nwakanma; Board Member, Clare Omatseye; Board Chairman,Udeme Ufot; Chief Operating Oﬃcer, Kehinde Ayeni and Executive Director; Femi Taiwo during the media brieﬁng to announce LEAP Africa’s 20th Anniversary celebration activities in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Agusto & Co. Affirms “A”Rating, Stable Outlook for FBNQuest FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, has once again received an “A” rating from Agusto & Co., which affirms the Merchant Bank’s stable outlook as a financial institution. The rating was assigned in the recently released rating report by Agusto & Co, a foremost rating agency in Nigeria and it recognises the Bank’s good brand equity, capitalisation ratios, acceptable asset quality and experienced management team. The agency affirmed that FBNQuest Merchant Bank is in good financial standing and has a strong capacity to meet its obligations to clients. The rating also reflects the Bank’s franchise upheld by the affiliation with FBN Holdings Plc,

one of Nigeria’s largest financial institutions with interests in commercial banking, capital markets, trusteeship and insurance brokerage. In keeping with its commitment and performance as a leading corporate and investment banking house, delivering high-end financial products and services, the organisation has been deliberate to deliver strategic sustainable value that will cater to its clients by providing product offerings across a broad array of investment opportunities in targeted sectors of the economy, with clear focus on building an enduring legacy for future generations. Speaking on the rating, Kayode Akinkugbe Managing Director, FBNQuest Merchant

Bank stated that “We are delighted to have been assigned an “A’’ rating from Agusto & Co. despite the current macroeconomic challenges. We remain focused on being a high-performance organisation whilst providing our clients with valuable and sustainable solution-oriented services. “FBNQuest Merchant Bank is committed to providing innovative banking solutions for its diverse clients, which comprises governments, corporate organisations, financial institutions, high net-worth and affluent individuals. We create value for our clients and shareholders by offering financial advice, investment, and risk management products, managing funds, administering assets, and trading securities.”

LEAPAfrica Celebrates 20th Anniversary, Showcases Change-makers Across Africa LEAP Africa has announced the tenth edition of its annual Social Innovators Programme & Awards (SIPA) 2022 and its 20th-anniversary celebration set to hold on Thursday, September 8th, 2022, in Lagos. LEAP Africa has supported about 200 social entrepreneurs in Nigeria, Ghana, Kenya, Sierra Leone, Rwanda, Cameroon, Burundi, Uganda, and Tanzania through the Social Innovators Programme (SIP) in the past ten years. The S.I.P.A provides LEAP Africa with the opportunity to deepen further its engagement

with social entrepreneurs and foster sectorial collaboration with the over 200 alumni social innovators on the continent. This year Henry Kaestner, Co-founder and partner, Sovereign’s Capital, will be joined by Vanessa Garrison, Co-founder, GirlTrek; Efosa Ojomo, Lead, Global Prosperity Research Group, Clayton Christensen Institute for Disruptive Innovation and Sangu Delle, CEO, CarePoint will be speaking on the theme; Reawaken, Redesign and Re-emerge - Africa Beyond Potential. This year, S.I.P.A 2022

will welcome dignitaries like Ogochukwu Ekezie-Ekaidem, Head of Corporate Communications and Marketing at Union, Pearl Uzokwe, Head of Sahara Group Foundation, Olusuji Aina, Partner and West Africa Director, Impact Amplifier among others. Commenting on LEAP’s work with social innovators, the Executive Director of LEAP Africa, Femi Taiwo, expressed his delight to graduate a new set of change-makers from the programme; he says, “Today, I am proud of everyone we have impacted.

Bridge Gap Recruitment App Goes Live Nume Ekeghe BridgeGap Consults Limited, an Information Technology company has introduced a recruitment application (app) that seamlessly connects employers with their prospective employees. It aims to revolutionize job applications, improve efficiency and reduce bottlenecks in the recruitment process for organizations. According to the firm, by

virtue of its activation on September 5, 2022, the App is available to users and can be downloaded on Apple Store, Android Play store or through the the company website. The 56 Bridge app, which was launched in Lagos on Tuesday, August 9th, 2022, is primed to assist organisations attract and hire top talents from any part of the world. In her earlier remarks during the launch ceremony, Mosunmola Obembe, Director

of Operations for BridgeGap Consults Limited- the parent company of 56 Bridge – said the app is an end-to-end recruitment platform that is cost and time effective, where candidates’ shortlisting and interview processes is re-defined for a better talent addition to organisations. Speaking about the App, Managing Director, Charms PLC Mr. Gaving Young said depending on the role, what skills are available, it is useful.

(MILLION NAIRA)

JUNE 2022 Money Supply (M3)

48,865,823.53

-- CBN Bills Held by Money Holding Sectors

167,956.2

Money Supply (M2)

48,797,867.32

-- Quasi Money

28,405,330.1

-- Narrow Money (M1)

20,392,537.22

---- Currency Outside Banks

2,722,785.91

---- Demand Deposits

17,669,751.32

Net Foreign Assets (NFA)

6,242,394.29

Net Domestic Assets(NDA)

42,623,429.24

-- Net Domestic Credit (NDC)

57,267,178.05

---- Credit to Government (Net)

17,996,690.06

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

39,270,488

--Other Assets Net

5,566,430

Reserve Money (Base Money

11,320,304

--Currency in Circulation

3,259,269.15

--Banks Reserves --Special Intervention Reserves

11,320,303.72 384,377.56

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

June 2022

Inter-Bank Call Rate

11.10

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

13.00

Treasury Bill Rate

2.45

Savings Deposit Rate

1.38

1 Month Deposit Rate

3.48

3 Months Deposit Rate

4.55

6 Months Deposit Rate

4.97

12 Months Deposit Rate

5.30

Prime Lending rate

12.29

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7

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

T H I S D AY ˾ ˜ ͵˜ ͰͮͰͰ

SEC Reduces Workforce by 30%, Declares N2.5bn Surplus in H1 Ka yo d e To ke d e The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has said the commission reduced its workforce by almost 30 per cent disclosing that at the end of the first half of 2022, it recorded a surplus of about N2.5billion. Speaking at the 2023-

2025 Medium Term Expenditure Framework/ Fiscal Strategy Paper, MTEF/FSP interactive session with the House of Representatives Committee on Finance in Abuja, yesterday, Yuguda stated that 2020 and 2021 were particularly difficult times for the Commission as it was running a deficit. According to him “When we came on board, it was

P R I C E S MAIN BOARD

F O R DEALS

very difficult but we assured the National Assembly that we were going to take certain actions to make this deficit a thing of the past and our story this year is that we have actually turned the corner. “If you look at our 2021 and 2020, compare with the 2022 budget and the 6 months in 2022 you will see that there is an actual improvement in the way

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

QUANTITY TRADED

we manage the finances of the Commission. “It shows our budget for 2022 and the actual out time for the first half of that year. You can see that we projected a deficit of N1.6 billion, but as at the end of the first half, we have a surplus of about N2.5billion.” He stated that the presentation is a summary of the kind of efforts the

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

current Management has made over the past few years to position the Commission on the path of fiscal sustainability. Yuguda told the Members that the SEC has so far carried out its promise to reduce the top heavy structure in the Commission by offering some top personnel a voluntary exit package. He said, “Mr. Chair-

O F

0 6

man we were top heavy and we said before this committee that we had a plan to offer a voluntarily early exit to some of our top personnel and I am happy to report that at the end of last year we offered this scheme and quite a number of our staff took the offer and we were able to substantially reduce our workforce by almost 30per cent.

/ 0 9 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

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

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

13.35

9.4%

ST ER LN B A N K

18.3

5.5%

CA P

17.75

7.6%

T R A N SC OR P

13.2

-0.9%

CHA M S

0.30

7.1%

Z EN IT H B A N K

12.5

-3.6%

ST ER LN B A N K

1.54

5.5%

GT C O

9.2

-0.5%

SOVR EN IN S

0.28

3.7%

UB A

7.7

0.0%

F T N C OC OA

0.30

3.4%

M B EN EF IT

6.4

-3.4%

WA P IC

0.40

2.6%

M A N SA R D

5.8

0.0%

N EM

5.16

1.8%

F ID ELIT YB K

5.4

0.0%

16.50

0.6%

CHA M S

5.3

7.1%

1.80

0.6%

A C C ESSC OR P

4.7

-0.6%

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

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

P ric e C hg %

T ic k er

Value

NP FM CRFB K

1.53

-7.8%

M TNN

656.9

0.0%

R EGA LIN S

0.24

-7.7%

A IR T ELA F R I

430.1

-2.0%

1.18

-5.6%

Z EN IT H B A N K

257.9

-3.6%

-4.8%

SEP LA T

252.9

0.0%

20.25

-3.6%

GT C O

183.1

-0.5%

0.28

-3.4%

N EST LE

151.7

0.0%

D A N GC EM

127.7

0.0%

T ic k er

LIVEST OC K N GXGR OUP Z EN IT H B A N K

M B EN EF IT

20.00

P ric e C hg %

J A P A ULGOLD

0.29

-3.3%

J A IZ B A N K

0.86

-2.3%

OKOM UOIL

63.9

0.0%

2000.00

-2.0%

UB A

55.1

0.0%

10.50

-1.9%

N GXGR OUP

50.5

-4.8%

A IR T ELA F R I FB NH

Afrinvest West Africa Limited

P ric e C hg %

UN ILEVER

UP L

Vo lum e

P ric e C hg %

D A N GSUGA R

T ic k er

P ric e

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

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

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

WEDNESDAY, SEPTEMBER 7, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 05Sept-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.94% Anchoria Equity Fund 138.71 140.28 -0.39% Anchoria Fixed Income Fund 1.18 1.18 3.24% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.13 21.77 4.17% ARM Discovery Balanced Fund 510.34 525.73 13.12% ARM Ethical Fund 42.42 43.70 8.88% ARM Eurobond Fund ($) 1.08 1.08 0.17% ARM Fixed Income Fund 1.06 1.06 4.31% ARM Money Market Fund 1.00 1.00 9.94% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 90.28 90.28 -6.60% AVA GAM Fixed Income Dollar Naira 1,095.17 1,095.17 9.52% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 143.61 144.62 7.92% AXA Mansard Money Market Fund 1.00 1.00 9.91% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.09 2.09 2.80% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.33 2.38 9.62% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 5.75% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.63% Paramount Equity Fund 19.24 19.59 10.42% Women's Investment Fund 146.57 148.36 3.27% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.65% Cordros Milestone Fund 131.30 132.23 5.53% Cordros Dollar Fund ($) 111.02 111.02 5.00% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 9.02% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 9.56% EDC Nigeria Fixed Income Fund 1,116.38 1,135.75 0.44% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.87% Emerging Africa Bond Fund 1.04 1.04 8.69% Emerging Africa Balanced Diversity Fund 1.04 1.04 4.11% Emerging Africa Eurobond Fund 103.22 103.22 2.03% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1498.43 1498.43 11.46% FBN Balanced Fund 193.89 195.21 10.62% FBN Halal Fund 123.13 123.13 10.81% FBN Money Market Fund 100.00 100.00 9.88% FBN Dollar Fund (Retail) 125.68 125.68 5.96% FBN Nigeria Smart Beta Equity Fund 159.20 161.35 6.05% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,051.87 3,614.11 100.00

4,105.61 3,614.11 100.00

5.82% 6.18% 9.56%

FSDH Dollar Fund 1.11 1.11 4.04% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 10.26% Vantage Balanced Fund 2.94 2.98 2.88% Vantage Guaranteed Income Fund 1.00 1.00 6.00% Kedari Investment Fund (KIF) 142.57 142.57 4.01% Vantage Equity Income Fund (VEIF) - June Year End 1.24 1.27 2.20% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 0.78% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.61 1.64 13.27% Lotus Halal Fixed Income Fund 1,167.74 1,167.74 6.35% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.11 12.18 11.11% Meristem Money Market Fund 10.00 10.00 10.77% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.34 102.34 9.66% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.23% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 123.40 125.87 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.06 1.06 9.24% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,544.26 3,578.41 4.64% Stanbic IBTC Bond Fund 241.50 241.50 2.52% Stanbic IBTC Ethical Fund 1.40 1.42 11.90% Stanbic IBTC Guaranteed Investment Fund 325.65 325.66 4.00% Stanbic IBTC Iman Fund 258.08 262.20 10.71% Stanbic IBTC Money Market Fund 1.00 1.00 10.20% Stanbic IBTC Nigerian Equity Fund 11,740.64 11,902.34 7.62% Stanbic IBTC Dollar Fund (USD) 1.34 1.34 3.50% Stanbic IBTC Shariah Fixed Income Fund 119.60 119.60 2.30% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 111.97 111.97 5.26% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.95 0.97 7.48% United Capital Balanced Fund 1.34 1.36 2.73% United Capital Wealth for Women Fund 1.12 1.14 8.58% United Capital Sukuk Fund 1.08 1.08 4.86% United Capital Fixed Income Fund 1.91 1.91 4.27% United Capital Eurobond Fund 123.09 123.09 3.89% United Capital Money Market Fund 1.00 1.00 11.36% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.63 13.75 3.33% Zenith ESG Impact Fund 15.61 15.76 6.76% Zenith Income Fund 23.08 23.08 5.15% Zenith Money Market Fund 1.00 1.00 9.49% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.81 3.91 -5.02% Vetiva Consumer Goods Exchange Traded Fund 6.02 6.12 2.95% Vetiva Grifﬁn 30 Exchange Traded Fund 18.06 18.26 2.14% Vetiva Money Market Fund 1.00 1.00 9.52% Vetiva Industrial Goods Exchange Traded Fund 17.78 17.98 -10.95% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 141.26 143.26 -10.39%

REITS NAV Per Share

Yield / T-Rtn

118.56 51.93

4.66% 2.11%

Bid Price

Offer Price

Yield / T-Rtn

14.22 127.73 99.55 16.40 17.10

14.32 130.98 101.73 16.50 17.20

1.65% 0.49% -0.21% -8.42% 15.96%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY SEPTEMBER 7, 2022 • T H I S D AY

WEDNESDAY, Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

FORTY

Britain's New PM Assumes Ofﬁce,Vows to Ride Out Economic Storm Biden, Buhari congratulate Truss

Deji Elumoye in Abuja with agency report Liz Truss took over as Britain's Prime Minister yesterday, vowing immediate action to tackle one of the most daunting set of challenges for an incoming leader in post-War history led by soaring energy bills, looming recession and industrial strife. Truss, the fourth Conservative prime minister in six years and successor to Boris Johnson who was forced out over multiple scandals, acknowledged the severe global headwinds from Russia's invasion of Ukraine and the COVID-19 pandemic. "I am confident that together we can ride out the storm. We can rebuild our economy, and we can become the modern brilliant Britain that I know we can be," Reuters quoted the 47-year-old former foreign secretary to have

said outside her new Downing Street home and office. Truss appointed close allies to top jobs such as Kwasi Kwarteng as finance minister, Therese Coffey as deputy prime minister and health minister, and James Cleverly as foreign minister. It was the first time a white man would not hold one of Britain's four most important ministerial positions. The new cabinet would be charged with delivering on Truss' three stated priorities: tax cuts to boost the economy, help over rising energy costs, and sorting out the state-run National Health Service. She inherits an economy in crisis, with inflation at double digits and the Bank of England warning of a lengthy recession by the end of this year. Already, workers across the economy have gone on strike. Truss has promised to scrap

plans to increase corporation tax on big firms, and to reverse an increase in a payroll tax on workers and employers, designed to raise additional funding for health and social care, with the extra spending coming from general taxation instead. Her plan to revive growth through tax cuts, as well as potentially providing around 100 billion pounds ($116 billion) to help with energy bills, has rattled financial markets. British 30-year government bonds suffered their sharpest one-day fall since March 2020 when the coronavirus pandemic caused turmoil in financial markets, as investors honed in on the extra borrowing Truss's plans are likely to require, while 10-year borrowing costs rose to their highest since 2011. read more "I know that we have what it takes to tackle those challenges.

Of course, it won't be easy, but we can do it," Truss said, adding that Britain would also continue to stand up for freedom and democracy around the world. One major global ally, United States President, Joe Biden, offered his congratulations. "I look forward to deepening the special relationship between our countries and working in close cooperation on global challenges, including continued support for Ukraine as it defends itself against Russian aggression," he said on Twitter. Also, President Muhammadu Buhari congratulated the new Prime Minister of Britain. In a statement yesterday, by his Media Adviser, Femi Adesina, the president on behalf of the citizens and Government of Nigeria, congratulated the Truss, on her assumption of this trusted position of leadership.

Buhari rejoiced with the former Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom, whose antecedents in government, politics and diplomacy will further shape and strengthen relations with Nigeria and other nations. He affirmed that the shared ties between Nigeria and Britain remains strong, positive and mutually beneficial, while working with Prime Minister Truss to deepen that relationship in the interest of both countries. Buhari appreciated the warmth and friendliness of the immediate past Prime Minister, Boris Johnson, wishing him the best in his future endeavours. The new prime minister has a weaker political hand than many predecessors. Having held a place in cabinet for eight years, she defeated former finance minister Rishi Sunak in a

vote of Conservative Party members by a tighter margin than expected and despite more of the party's lawmakers initially backing him. Johnson, who tried to cling to power in July, despite ministers resigning en masse over scandals including parties during COVID lockdowns, appealed for unity. read more "It's time for politics to be over, folks," he said in his farewell speech. "It's time for us all to get behind Liz Truss." After speaking outside Downing Street's famous black door, Johnson flew to Scotland to tender his resignation to 96-year-old Queen Elizabeth at one of her homes, before Truss followed him into Balmoral Castle to be appointed. read more Johnson boasted of his successes, including an early COVID vaccine programme and his staunch support for Ukraine in its battle against Russia.

of SSANU and NASU followed suit on March 27, 2022. “In response to the unions’ demands, the federal government reconstituted the FGN/Universitybased Unions 2009 Agreement Renegotiation Committee, with Professor Nimi Briggs as Chairman, on 7th March, 2022. “The committee was charged with the responsibility of concluding the ongoing federal government renegotiation efforts with the university-based unions and producing appropriate solutions, workable and enduring agreements for the improvement of the Nigerian University System (NUS).” The minister added, “While the Briggs committee was busy interacting with the unions on all the issues, a federal government inter-ministerial team, under the leadership of the Minister of Labour, Dr. Chris Ngige, was simultaneously engaging the unions and resolving some of their minor demands, such as salary shortages and payment of arrears of the minimum wage consequential adjustments as well as payment of promotion arrears. “The Ministry of Finance, Budget and National Planning was able to resolve most of these issues by

the end of July 2022. “On May 12, 2022, about three months into the strike, a high powered Tripartite Plus Conciliation Meeting was held at State House Banquet Hall, at the instance of His Excellency, President Muhammadu Buhari, GCFR, with a view to finding solutions to those issues that were considered thorny and generic to both the teaching staff (ASUU) and non-teaching staff Unions (SSANU, NASU and NAAT).” Adamu said two of the issues specified during the meeting were categorised under the University Transparency and Accountability Solutions (UTAS) by ASUU and the University Peculiar Personnel and Payroll System (U3PS) as well as the delay in Renegotiation of 2009 agreements -conditions of service, wages and allowances. According to him, “It is important to note that this special conciliation meeting was chaired by the Chief of Staff to the President, Professor Ibrahim Gambari, and had in attendance the Secretary to the Government of the Federation (SGF), the Ministers of Labour, Education,

ASUU STRIKE: FG WILL NOT SIGN AGREEMENT IT CANNOT IMPLEMENT, SAYS MINISTER Universities, held at the National Universities Commission (NUC). Adamu said President Muhammadu Buhari warned the government team involved in the negotiation with ASUU against signing an agreement that government would not be able to fulfil. ASUU has been on strike for nearly seven months, since February 14, over the alleged unfulfilled deals. Among the lecturers’ demands are better funding and equipment of Nigerian public universities and increase in remunerations.

But Adamu said the federal government could only afford a “23.5 per cent salary increase for all categories of the workforce in federal universities, except for the professorial cadre which will enjoy a 35 per cent upward review.” He also said N150 billion would be provided for in next year’s budget for the refurbishment of federal universities, with another N50 billion for the payment of outstanding academic staff allowances. The minister said the meeting of

the heads of universities, convened at the instance of NUC, became “necessary and urgent due to certain misconceptions and misinformation in the public domain, regarding the ongoing strike action by ASUU.” Adamu told the Pro-Chancellors and Vice Chancellors, “Not only is our interaction today (September 6) necessary, it is also urgent to clarify the misrepresentations and draw your attention to the facts, which you, as managers of our universities, ought to know by virtue of your assigned duties.

POLISH PRESIDENT, DUDA, IN HISTORIC VISIT, WOOS NIGERIAN INVESTORS quality as that being offered by china and Russia. The Polish president, while identifying global food crisis as one of the major fall out of the Russian invasion of Ukraine, disclosed that with his visit, Nigeria and Poland has signed a Memorandum of Understanding in the field of agriculture. “We have vast experiences in the field of agriculture, biotechnology, ecology, climate protection, and production of eco-friendly food. We believe that the cooperation and the visit will contribute towards repairing those economic chains which were interrupted or even broken as a result of war and the covid-19 pandemic,” Duda said. He explained that his country decided to help Ukraine in the ongoing war because it is against the imperial and colonial tendencies of Russia, which is currently responsible for the ongoing energy and food crisis. “Right now a war is raging in our eastern borders, there is a war going on in Ukraine, which is as a result of Russian aggression against that country and that war has sparked off a lot of difficulties, a lot of shock, and a lot of crisis both in Europe and beyond and actually, all over the world. Among those crises let me just mention two; energy crisis and also the food crisis both of which poses a huge threat. “Unfortunately, due to our history, we do know very well what Russian imperialism stands for, what Russian invasion stands for and that is why we are lending our whole and equivocal support to Ukraine”, he said. “We are helping Ukrainians because we are absolutely sure that Ukraine and Ukrainians were invaded without any reason whatsoever and due to the imperial ambition and colonial ambition of Russia and at the same time we are very much aware of the fact that the war in Ukraine does not only affect our neighborhoods but this war is spilling over and into Europe and around the world also in Africa. And we are very much aware of the fact that the war in Ukraine poses a threat to Africa, it poses a potential food crisis,” the president added. He further stressed that, “Nigeria is the only African country with which Poland has signed an agreement on Strategic Dialogue.

And actually a very good part of this strategic dialogue is the memorandum of cooperation in the area of agriculture that we have just signed a couple of minutes ago. “It is immensely important piece of document, especially in the light of the food security crisis that is faced right now. And not only by Nigeria, but also by the entire African continent. “And the 10 most pivotal aspects that we raised in our conversation today both in our private tete-a-tete meeting with Mr. President, as well as during the plenary session was how to provide food security and energy security nowadays. “Both of these topics, of course, stem from the situation that we are faced with today in Europe and to be more precise in our part of Europe. That is the aftermath of the Russian aggression and the war in Ukraine.” Speaking about the energy security dimension, President Duda, said the talks held were essential from the perspective of supplying both LNG gas as well as oil to Poland and to the European Union. “And speaking about those natural resources, Nigeria is indeed very wealthy. And I want to also add that the first supplies of the LNG gas to our LNG gas terminal from Nigeria had already happened, just like the import of crude oil performed by our oil company Latos. “Those shipments did happen in recent years. And that means well for the future, because we do want to further develop this cooperation, we want to increase the supplies from Nigeria to Poland. And by this way, we also want to contribute to the development of economic relations between both our countries.” He expressed hope that the political talks would yield very fruitful outcome and the meeting that he will have with representatives of business sectors, both from Poland and Nigeria. On his part, President Muhammadu Buhari thanked the Polish government for welcoming Nigerian students whose studies were truncated by the Russia-Ukraine crisis; offering them opportunities for continued education. His words: "I wish to seize this opportunity to commend the efforts of the government of Poland for the assistance provided to the large

number of refugees that flee into your country from Ukraine, which included a significant number of Nigerians. "I also wish to express our sincere gratitude on the kind and generous support extended during our government evacuation of our fleeing nationals. We also appreciate the opportunities given to some of our nationals to remain in Poland to continue with their studies." He noted that both countries have reached agreements to increase collaboration in agriculture, energy and defense.

“It is, indeed, one of your statutory duties to negotiate with your workers on matters of their welfare and conditions of service.” He recalled that the “current industrial action in our public universities started on 14th February 2022, when ASUU commenced a two-week warning strike over the non-implementation of agreements reached between government and the union. “In all we have been doing, our guide has been the directive of Mr. President Muhammadu Buhari, namely, that while the unions should be persuaded to return to work, government should not repeat the past mistakes of accepting to sign an agreement it will be unable to implement. “Government should not, in the guise of resolving current challenges, sow seeds for future disruptions.” The minister stated, “To compound matters further, the three other university non-teaching staff unions – SSANU, NASU and NAAT – also declared trade disputes against the federal government and commenced nationwide industrial actions a few weeks later. NAAT started its strike on March 17, 2022 while the Joint Action Committee

Continued on page 43

AKABUEZE: FG MAY REWORK MTEF OVER SUSPENSION OF 5% TELECOMS TAX had not been officially informed about the deferment, if confirmed, it would negatively impact government financial projections for next year’s budget. According to him, while the tax had already been captured in the Finance Act 2020, any move to postpone its implementation would lead to distorting the 2023-2025 funding plan. Akabueze stated that the MTEF document had already gone through a long process before its official endorsement, arguing that tampering with it would only negatively impact government’s future plan. “I don’t know about the suspension. This is law now. So, beyond what I have read in the media, we haven’t been advised in terms of the suspension. For instance, recently the Federal Executive Council (FEC) passed the MTEF for 2023-2025. “The framework that the FEC passed includes projections for this tax. That framework is currently before the National Assembly. Over the last two weeks we have been holding meetings with agencies of government on this. “ If we are formerly advised that this is no more applicable, then we will have to rework that Medium Term Expenditure Framework. “What that means is that the projected revenues will decline and the deficit will increase, which means that we either have to cut back on expenditure or increase debt,” he argued. The MTEF proposal has a total of N19.76 trillion, with a proposed deficit of N12.42 trillion. “We face critical fiscal challenges which

we need to address,” Akabueze maintained. The Minister of Communication and Digital Economy, Isa Pantami had announced the suspension of the telecoms tax implementation, stressing that its execution could lead to heavy negative impact on the struggling sector. But Akabueze insisted that the companies operating in Nigeria were not overtaxed, drawing a parallel between Nigeria and 21 other African countries, which he said pay higher taxes. He, however, did not explain the differences in the operating environments, including in terms of availability of power, security, volatility of the local currency, among others. According to him, the Average Effective Tax Rate (AETR) in some African countries, for the telecoms sector, which measures the per cent of the income that an individual or a corporation pays in taxes, is currently over 90 per cent. He added that the matter had been extensively deliberated upon before it was released to the public. “This wasn’t something that the ministry of finance woke up and introduced. The Finance bill went through the FEC. It went to the National Assembly as an executive bill from Mr. President. At the end of the day, it was passed and they signed it into law. “We were engaging with customs and the Nigerian Communications Commission (NCC) about implementation,” he said. On the rising fiscal headwinds, Akabueze, said that Nigeria may seek relief from the International Monetary Fund (IMF) if it is unable

to address its problems before they escalate. “Essentially, there are two ways countries end up with the IMF. One is voluntary when they ask IMF for help, or when things get to the grind where they simply have no other option. “I don’t see Nigeria going to the IMF voluntarily. It’s a hot issue here in Nigeria. But the honest truth is that if we don’t address our fiscal challenges in a sensible and sustainable manner, we may end up unwillingly with the IMF,” he warned, but however assured that Nigeria wasn’t at that kind of desperate situation yet. He added: “We are not there yet. But we could as much stop digging. There is a maxim that if you find yourself in a pit, you should stop digging and start climbing out. “If we continue to fund regressive deficits, it is tantamount to continuing to dig. If we continue to pass on reasonable opportunities to increase revenues by introducing taxes, it is tantamount to continuing digging. “Even though I said we should not cut expenditure in total, we need to get more efficient in our spending. If we don’t do that again, it is tantamount to continuing to dig.” Stressing that petroleum subsidies were not sustainable, Akabueze advised that gains from the removal should be redirected to unlocking investment potential in the oil sector, adding that it was unreasonable to keep exporting crude without refining it more than 60 years after oil exploration and production began in the country.

He further suggested that the Asset Management Corporation of Nigeria (AMCON) should increase the amount of statutory contribution made by banks, noting that the matter was of grave concern. “There are debates and discussions over whether AMCON overpaid for the assets or not, given how toxic they were. Yes, this is a matter of serious concern to us on the fiscal side. “If AMCON does not work down these assets and pay down the amount that was invested in securing the assets, that burden will eventually devolve on the treasury and become part of the national debt that all of us have to pay. “By the design, the resources to work down the obligations would partly come from contributions from the bank and I think that AMCON should at this point consider raising the level of the contributions that the banks make, even on a risk asset-weighted basis, so that banks that contributed significantly to the pool of assets. “Banks that are making mouthwatering profits nowadays should be made to contribute more significantly to working down these assets. “It does not look equitable that the banks will dump their toxic assets on AMCON which will now become a public burden and now they are declaring great profits and declaring dividends for their shareholders,” he maintained. The budget office chief further argued that government was not bloated as it is currently constituted, but stressed that there needs to be rebalancing of the workforce.

WEDNESDAY, Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

TINUBU CONDOLES JIGAWA... L-R: All Progressives Congress National Women Leader, Dr. Beta Edu; a national Oﬃcer of the party, the party's National Chairman, Senator Abdullahi Adamu; Presidential Candidate, Bola Tinubu; Emir of Hadeja, HRH Adamu Abubakar Maje; Director-General of Tinubu/Shettima Campaign Organisation & Plateau State Governor Simon Lalong; Governor Abubakar Badaru; his deputy, Umar Namadi Danmodi; Deputy National Chairman, South, Emma Nnekwu and former EFCC Chairman, Mallam Nuhu Ribadu, during Tinubu's visit to the state to commiserate with the government and people over the recent ﬂooding which killed 51 persons and destroyed valuable properties...yesterday

Court Remands Ogun Speaker, Oluomo, Others over Alleged N4.1bn Fraud Kingsley Nwezeh in Abuja and Wale Igbintade Justice Daniel Osiagor of the Federal High Court in Lagos, yesterday, remanded Speaker of the Ogun State House Assembly, Olakunle Oluomo and two other principal officers of the House in the custody of the Economic and Financial Crimes Commission (EFCC) over alleged N4.4billion fraud. Olomu, was arraigned alongside the Director of Finance of the State Assembly, Oladayo Samuel, and the Clerk of the House, Adeyemo Taiwo. The defendants entered the duck at about 10:08am on an 11-count charge of alleged conspiracy, forgery, and stealing. The Speaker and other defendants were brought to the court in a hummer bus marked ABJ 445 AG by the EFCC. During their arraignment, EFCC prosecutor, Rotimi Oyedepo urged the court to allow the defendants enter the duck and take their plea. Subsequently, the charge was read and all the defendants pleaded not guilty to all the 11-count. Following their plead of not guilty, counsel to the Speaker (1st defendant), Mr. Kehinde Ogunwumiju, informed the court that his client was already enjoying administrative bail granted by the EFCC. He told the court that he had

filed a bail application, but there was delayed due to correction in the title of the application. He prayed the court to allow the first defendant remain in the custody of the EFCC pending the perfection of his bail conditions. Also counsel to the 2nd and 3rd defendants, Akinyemi Aremu and Oluwole Aladedoy urged the court to grant their clients bail in liberal and affordable terms. In his response, EFCC prosecutor, Oyedepo did not oppose the bail application, but left it to the discretion of the court. He, however, urged the court to direct that failure to meet up with their respective bail conditions within a week, the defendants should be transferred to the Ogun State Correctional Centre, Abeokuta. Ruling on their bail applications, Justice Osiagor granted the Oluomo bail in the sum of N300 million with two sureties, while the 2nd and 3rd Defendants, Oladayo Samuel, Adeyemo Taiwo were granted bail in the sum of N100 million each with two sureties in like sum. The sureties must have landed properties within the jurisdiction of the court, and the title documents of the properties are to be deposited with the court registrar. The defendants are also to deposit their travel documents to the court registry. The judge also ordered the defendants to be remanded at the

custody of the EFCC for maximum of one week following, which they would be transferred to the Nigerian Correctional Centre at Abeokuta. Also one of the sureties must be a grade level 14 officer in either federal or state civil service. The EFCC in its 11-count stated: "That you Oluomo Olakunle Taiwo, Oladayo Samuel, Adeyemo Adedeji Taiwo and Adeyanju Nimota Amoke (now at large) sometimes in 2019 in Abeokuta within the jurisdiction of this honorable Court conspired amongst yourselves to USE the total sum of N2,475,000,000.00 (Two Billion, Four Hundred and Seventy Five Million Naira) which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: stealing from the treasury of Ogun State

House of Assembly and you thereby committed an offence contrary to sections 18 (a), 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act. "That you Oluomo Olakunle Taiwo, Oladayo Samuel, Adeyemo Adedeji Taiwo and Adeyanju Nimota Amoke (now at large) between June,2019 and June,2020 in Abeokuta within the jurisdiction of this honorable Court used the total sum of N900,000,000.00 (Nine Hundred Million Naira) which sum you reasonably ought to have known forms part of the proceeds of your unlawful activities to wit: stealing from the treasury of Ogun State House of Assembly and you thereby committed an offence contrary to section 15 (2) (d) of the

Some gender-based groups, the Women Aid Collective (WACOL) and Fifty-Fifty Action Women have called for an end to gender-based violence and harmful cultural practices against women in Anambra State. In a town hall meeting sponsored by Ford Foundation, which held in Awka, Anambra State, the groups decried the high rate of domestic violence in the society, including harmful cultural practices targeted at women. The Coordinator of WACOL, Prof Joy Ezeilo, who was represented by

Egodi Igwe in a welcome address, said the essence of the town hall meeting was to seek the help of various groups in the society, to end harmful practices against women. She said: "Cultural practices against women is rising in Anambra. We are here for interaction to see how these can be stopped. "We have various members of the society here, including; traditional rulers, town union presidents, youth leaders, women leaders and many others. We are here to hear everyone's experience and see how we can stop them." Two university dons, Professors Ogugua Ikpeze and Chinyere

as amended and punishable under section 15 (3) of the same Act. "That you Oluomo Olakunle Taiwo, Oladayo Samuel, Adeyemo Adedeji Taiwo and Adeyanju Nimota Amoke (now at large) between August,2021 and December,2021 in Abeokuta within the jurisdiction of this honorable Court used the total sum of N375,000,000.00 (Three Hundred and Seventy Five Million Naira) which sum you reasonably ought to have known forms part of the proceeds of your unlawful activities to wit: stealing from the treasury of Ogun State House of Assembly and you thereby committed an offence contrary to section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

NMDPRA Moves to Halt Planned Petrol Marketers' Strike, Says N103bn Bridging Claims Paid in Nine Months Emmanuel Addeh in Abuja The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday moved to stop the planned three-day warning strike action by the Northern Independent Petroleum Marketers Forum (NIPMF). In a statement last night, the

organisation noted that it had so far paid over N103 billion to the marketers between December 2021 and August this year, stressing that all the pending issues were being addressed. NIPMF branches in various states in the north had on Monday threatened to suspend the supply and distribution of products for three days over

Stakeholders Seek End to Domestic Violence, Harmful Cultural Practices in Anambra David-Chyddy Eleke in Awka

Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.” Part of it stated: “That you Oluomo Olakunle Taiwo, Oladayo Samuel, Adeyemo Adedeji Taiwo and Adeyanju Nimota Amoke (now at large) between July,2020 and July,2021 in Abeokuta within the jurisdiction of this Honourable Court used the total sum of N900,000,000.00 (Nine Hundred Million Naira) which sum you reasonably ought to have known forms part of the proceeds of your unlawful activities to wit: stealing from the treasury of Ogun State House of Assembly and you thereby committed an offence contrary to section 15 (2) (d) of the Money Laundering Prohibition Act, 2011

Okunna from Nnamdi Azikiwe University and Paul University respectively, who lectured participants at the town hall meeting listed several types of violence against women. Ikpeze in her presentation said: "The VAPP (Violence Against People Prohibition) law is fully operational in Anambra today. As I speak with you, the special offences court is operating in Anambra, and always sitting. "I urge you to run away from imprisonment as a result of engaging in violence. The court is fully operational, you may be lucky to get away with fine, if you

are brought before the court, but you have to know that once you pay fine, you're an ex-convict, and this may deny you a lot of things, so you must be careful." Some types of violence against women listed included female genital mutilation, child marriage, male child preference, betrothal, widowhood practices, forced marriage, child labour, among others. Several groups also gave suggestions on how such harmful practices against women could be stopped, and ways they could help to stop such practices in their various localities.

the alleged failure of the federal government to pay N70 billion bridging claims. For instance, the General Secretary of the body in the Borno State chapter, Alhaji Abbas Yakubu, during a press conference in Maiduguri, said the federal government had failed to pay the members of the association their outstanding balance. Stressing that no payments had been made in the last three years, he noted that failure to offset the bridging claims will lead to the suspension of services at the nine oil depots in the region. The depots that would be affected, according to him, include the ones in Maiduguri, Damaturu, Yola, Gombe, Kano, Gusau, Jos, Suleja and Kaduna, adding that the NMDPRA had paid only 5 per cent of its claim from 2019 to 2021. However, the NMDPRA said yesterday that in line with its mandate to collaborate with industry stakeholders in ensuring uninterrupted supply of petrol throughout the nation, it held a meeting with the aggrieved members of the organisation on the 5th and 6th of September 2022.

The NMDPRA explained that the meeting which also had the participation of the Nigerian National Petroleum Company Limited (NNPCL) ,addressed issues regarding bridging claims and other matters. “The Authority would like to reiterate that payment of bridging claims is an ongoing process and payments are disbursed as it is received from marketers. “It should be noted that the Authority has disbursed a total of N103,037, 183,922.91 between December 2021 to August 2022. Following the extensive deliberations between the parties, the Authority further commits to fast-track the settlement of all outstanding claims when received from marketers after due verification and reconciliation. “NIPMF has agreed to work with the NMDPRA to ensure free flow of petroleum products nationwide. “The NMDPRA affirms that it will continue to carry out its mandate as stipulated in the Petroleum Industry Act (PIA) which includes to promote and ensure the continuous and efficient operations of the midstream and downstream sector in Nigeria,” it stated.

WEDNESDAY, Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

CANADIAN NIGERIA INVESTMENT EXPO... L-R: Premier of Antario, Dung Ford and Minister of State for FCT, Dr. Ramatu Tijiani Aliyu, during her presentation of the book, "Àbuja the Evolution and Development of the Federal Capital Territory", written by Dr. Jumai Ahmadu, to the premier at the Canadian Nigeria Investment Expo, held in the Ontario Investment and Trade Centre OITC …recently

INEC: Comprehensive List of Registered Voters Out Soon Presents revised voting framework, regulations for IDPs Chuks Okocha in Abuja The Independent National Electoral Commission (INEC), yesterday, said it was working towards publishing a comprehensive list of registered voters ahead of the 2023 elections. Also, yesterday, INEC presented its 2022 Revised Framework and Regulations for Voting by Internally Displaced Persons (IDPs) draft policy document to stakeholders for review and validation in preparation for the election. INEC Chairman, Prof. Mahmood Yakubu, said this at a stakeholders’ validation meeting for the 2022 revised framework and regulations

for voting by Internally Displaced Persons (IDPs) in Abuja. Yakubu said the list would integrate the fresh voters registered at the just concluded Continuous Voter Registration (CVR) to the existing register of over 84 million voters. Faulting claim by a section of the civil society groups that INEC was not willing to display the register, he said, “At a media briefing yesterday, the commission was accused of failure to display the voters’ register as provided by Section 19(1) of the Electoral Act 2022. This claim is incorrect. “What the commission displayed for claims and objections in our local

government area offices nationwide for a period of one week, from Aug. 15 to August 21, was not the entire register of voters. “It was the list of fresh registrants at the end of the fourth and last quarter of the Continuous Voter Registration (CVR) exercise covering the period from April 11 to July 31.This has been the practice for several years.” Yakubu said the commission had displayed the register three times: from Sept. 24 to Sept. 30, 2021 (First Quarter), Dec. 24 to Dec. 30, 2021 (Second Quarter) and March 26 to April 1 2022 (Third Quarter). He said a comprehensive schedule

of the CVR and the display of the register was shared with stakeholders at the commission’s quarterly meeting just before the inception of the exercise in June 2021. “We wish to assure Nigerians that the commission will display the comprehensive register in all the 8,809 wards and 774 local government areas/area councils nationwide as envisaged in Section 19(1) of the Electoral Act, 2022. This will integrate fresh voters registered under the last CVR to the existing register of over 84 million voters. “The date will be announced as soon the commission completes the ongoing Automated Biometric

Identification System (ABIS) to weed out all double/multiple as well as ineligible registrants. We appeal to some of our friends in civil society organisations to be guided accordingly,” Yakubu said. Presenting the draft policy document of the 2022 Revised Framework and Regulations for Voting by IDPs, to stakeholders for review and validation in preparation for 2023 General Election, Yakubu said the idea was to ensure that no eligible Nigerian was left out of the electoral process on account of displacement, disability or other circumstances. His words: “Today, the same

Kuje Jail Break: Falana Drags Buhari, National Assembly to Court Asks court to compel FG to install CCTV, other security equipment in prisons Alex Enumah in Abuja and Wale Igbintade Rights activist, Mr Femi Falana, SAN, has dragged President Muhammadu Buhari, the National Assembly and the Controller General of the Correctional Service, to court over the recent attack on the Kuje Correctional Center, Abuja, by gunmen. Falana, in the suit filed at the Federal High Court, Lagos, was seeking an order of court compelling the defendants to provide necessary security apparatus across correctional centers in the country in line with the law. The plaintiff in the suit marked: FHC/L/CS/1580/2022 and dated August 23, 2022, blamed the attack that that saw the released of over 600 inmates including 64 Boko Haram terrorists on the absence of necessary security and monitoring equipment at the Kuje Correctional Center. In a 12 paragraph affidavit deposed to in support of the suit, plaintiff submitted that investigations revealed "that the correctional facility was not equipped with close circuit televisions and other security monitoring devices that it ought to

have been equipped with." Deponent of the affidavit, Mr Ayodele Aribisala, averred that, "The failure of the federal government to provide these security equipment amounted to a contravention of the provisions of the Nigerian Correctional Service Act 2019." Aribisala, claimed that the purpose of the legal action was to challenge the contravention and non-compliance of the above provision of the Nigerian Correctional

Service Act by the Defendants. Amongst the issues raised for determination were, "Whether the defendants are not under a legal obligation to provide monitoring devices, close circuit television and other instruments of restraint at correctional centers in line with Section 28 (1) of the Nigerian Correctional Service Act. "Whether the defendants are not under a legal obligation to establish and maintain a fully

equipped armed squad, intelligence and at correctional centers in line with Section 28 (2) of the Nigerian Correctional Service Act.” Counsel to the plaintiff, Mrs Funmi Falana, submitted that if the questions were answered in his favour, the court should declare, "that by virtue of Section 28 (1), (2) & (3) of the Nigerian Correctional Service Act, the defendants are under a legal obligation to provide monitoring devices to protect, control

and safeguard correctional activities, including observatory towers, double perimeter walls, close circuit television, body scanners, e-monitoring devices, electrically activated alarm systems and other instruments of restraint. Subsequently, he urged the court to make an order "directing the defendants to fully comply with the provisions of Section 28 (1), (2) & (3) of the Nigerian Correctional Service Act.

policy has been revised and is being presented to stakeholders for review and validation in preparation for the 2023 general election. The idea is to ensure that no eligible Nigerian is left out of the electoral process on account of displacement, disability or other circumstances that may limit citizens’ participation in the electoral process. “What is presented to stakeholders today has taken into consideration several developments since the last review and validation exercise in 2018. First, is the increased number of IDPs as a result of widespread insecurity nationwide. Secondly, to incorporate not only the displaced citizens arising from armed conflicts but also natural emergencies such as flooding. “Thirdly, to align the framework with the provisions of the Electoral Act 2022, specifically Section 24(1) which empowers the Commission to ensure that, as far as practicable, no Nigerian is disenfranchised on account of displacement by emergency situations. Finally, to align the framework with the national policy on internally displaced persons 2021.” Yakubu urged stakeholders to contribute to the discussion at the validation meeting to enrich the framework as well as the regulations for voting by IDPs, saying INEC look forward to a robust collaboration with stakeholders for voter education and sensitisation of IDPs.

HoS Blasts Insurance Coys for Non-payment of Workers' Death Benefits Olawale Ajimotokan in Abuja Head of Civil Service of the Federation, Dr Folasade Yemi-Esan, has decried the nonchalant attitude of Insurance companies towards payment of death benefits of civil servants. She expressed her displeasure yesterday at a meeting in Abuja with underwriters of the Group Life Insurance Policy for federal civil servants. She raged that the underwriters and brokers were frustrating the

federal government's best effort to improve the welfare of families of deceased workers through the prompt release of funds for the payment of death benefits. She described the attitude of the insurers as "unserious" and "unacceptable" and called on the insurers to redeem their non-performance. She said the meeting was necessary to bridge the gap that existed between the underwriters and brokers, noting it was unreasonable to continue to do the same thing repeatedly without achieving

meaningful result. “If the Brokers are no longer relevant, then they should be blacklisted,” she added. She explained that, payment of insurance claim was not a rocket science, stressing that the Office of the Head of Service performed similar function by settling backlog of claims not covered by the present arrangement, seamlessly. The Key Performance Indexes (KPIs) on settlement of claims as at September, 2022 indicated that the total number of claims

reported was 776; number of claims paid was 357; total sum on claims reported, N4,201,392,384.27; number of awaiting EDVs from HoS/MDAs 101; total amount paid N1,574,709,562.12. Also, number of awaiting DVs from Lead Underwriter 150 (N2,626,682,822.15), total amount expected from EDVs N785,123,928.73, number of incomplete documentations 168 and total outstanding claims is N1,841,558,893.42. Yemi-Esan further stated that

from the breakdown of the report, there was a clear indication of a huge gap between the number of claims reported and those paid and therefore demanded improvement from the Insurance service providers, saying there was always room for other alternatives. On behalf of the underwriters, the Lead Underwriter and CEO of Old Mutual (Nig.) Ltd., Mr. Segun Omosehin expressed gratitude to the HoS for her concerns and show of outright displeasure with their low performance.

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NEWS

SANWO-OLU VISITS TRILITH STUDIOS IN ATLANTA... Lagos State Governor, Mr. Babajide Sanwo-Olu (middle); Commissioner for Tourism, Arts & Culture, Pharm (Mrs) Uzamat Akinbile-Yusuf (fourth right); Special Adviser on Technology and Innovation, Mr. Tokunbo Alake (third right); Chief Press Secretary to the Governor, Mr. Gboyega Akosile (right); Commissioner for Economic Planning and Budget, Mr. Sam Egube (third left); President and Founder of Del-York International and Del-York Creative Academy, Mr. Linus Idahosa (fourth left) and others, during the Governor’s visit to the Trilith studios in Atlanta, United States of America ahead of the Lagos Film City project… at weekend.

2023: PDP Still Undecided on Who Leads Presidential Campaign Atiku campaign disowns diaspora groups seeking to raise funds PDP has not rewarded Rivers’ benevolence since 1999, says Wike Rivers governor meets 17 party’s gubernatorial candidates Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt Ahead of today’s national caucus and Thursday’s National Executive (NEC), the leadership of the Peoples Democratic Party (PDP) is still undecided on who would lead the Atiku Abubakar presidential election campaign. This is as Atiku, has distanced his campaigns from purported diaspora funding, apparently to avoid the controversies over diaspora funding and crowdfunding of elections in the country. Relatedly, the Rivers State Governor, Nyesom Wike, has disclosed that one of the reasons he was still aggrieved with the leadership of the PDP after the party's presidential primary, was because the PDP has not rewarded the state’s benevolence since 1999. Later yesterday, the Rivers governor, also met with 17 governorship candidates of the party across the states, as an effort towards lasting reconciliation in the party.

However, the party is yet to settle for both the chairman and director general of the presidential campaign, even though all PDP governors were automatic members of the campaign council. The names of former Senate President, Dr. Bukola Saraki and the chairman of the PDP Governors’ Forum, Governor Aminu Tambuwal of Sokoto State were earlier touted to lead the campaigns, but they are both from the North. But, as part of moves to appease the Rivers State Governor, Nyesom Wike, the party was already considering someone from South-west to lead the presidential campaigns. Curiously, the Oyo State Governor, Seyi Makinde, was not disposed to leading the campaigns, because he is seeking reelection. THISDAY was told that the Southwest might present a former national secretary of the PDP and former Osun State Governor, Ologunsoye Oyinlola. Oyinlola and Makinde are seen as political associates, and by extension,

Wike’s allies. Also, the Governor of Enugu State, Ifeanyi Ugwuanyi, was on the card, if the choice of Oyinlola did not fly with members of NEC. However, on diaspora funding, Atiku is wary of the new Electoral Act, especially, Section 85,which states: “Any political party that, (a) holds or possesses any fund outside Nigeria in contravention of Section 225 (3) (a) of the Constitution, commits an offence and shall on conviction forfeit the funds or assets purchased with such funds to the Commission and in addition may be liable to a fine of at least N5,000,000 or “(b) Retains any fund or other asset remitted to it from outside Nigeria in contravention of section 225 (3) (a) of the Constitution commits an offence and shall on conviction forfeit the funds or assets to the Commission and in addition may be liable to a fine of at least N5,000,000." It was in view of this that Atiku said his campaign organisation, the Atiku Abubakar Campaign Organisation (AACO), has been

drawn to an undated letter issued under the authority of a "Campaign Coordinator/ President" of a group calling itself the Atiku Abubakar Business Supporters in Diaspora (AABSID). "This letter is titled: ‘Fundraising Dinner Event for Alhaji Atiku Abubakar Presidential Election Campaign 2023’ and, apparently, is being sent to potential donors and members of the general public inviting donations to the presidential campaign of our candidate, Atiku Abubakar, in exchange for unfettered access to Atiku Abubakar, among other promises. “The Atiku Abubakar Campaign Organisation hereby notifies the general public, particularly, Nigerians in the Diaspora as well as corporate organisations within and outside Nigeria, that the Atiku Abubakar Business Supporters in Diaspora (AABSID) is a body/organisation unknown to our candidate, and neither he nor the Atiku Abubakar Campaign Organisation, has authorised any such fundraising event to

be held on his behalf nor on behalf of his Campaign Organisation. "The general public is hereby notified that the aforementioned Atiku Abubakar Business Supporters in Diaspora (AABSID) is not in any way affiliated or related to Atiku Abubakar and the Atiku Abubakar Campaign Organisation, and has not been mandated or authorised in any way whatsoever to represent the candidate or his campaign in any matter whatsoever. "In line with the foregoing, any person or organisation dealing with the aforementioned Atiku Abubakar Business Supporters in Diaspora (AABSID) and/or its Campaign Coordinator/President or indeed with any other organisation for the purposes of raising funds for our presidential candidate does so at their own risk and responsibility," the statement stated. But Atiku has continued with strategies on how to actualise his presidential dream, when he met with former presiding officers in the House of Representatives.

Atiku wrote on his verified tweeter handle that, "I just rounded off a meeting with former presiding officers and leaders of the House of Representatives at the Yar’Adua Centre in Abuja. "The meeting afforded a double advantage of seeking their support in building a grassroots network for our upcoming campaign. The second benefit is that it provides a legislative insight into some of the reforms we shall work through. Altogether, it was a well-spent afternoon, and I thank them all for honouring my invitation," Atiku stated. Meanwhile, Atiku has appointed the Commissioner for Information in Delta State, Mr. Charles Aniagwu, as one of his spokesmen for the 2023 presidential campaign A press statement signed by Atiku’s Media Adviser, Paul Ibe, noted that Aniagwu’s appointment took immediate effect, with the responsibility, among others, to keep the electorate up to speed with happenings in the presidential campaign.

confirmed by the Secretary-General of CVCNU and Coordinator of the team, Professor Michael Faborode, yesterday in Abuja, through, “The Sustainable Peace Team Working Paper.” Faborode said the goal of the team was not to allow the current impasse in the ASUU strike to prolong, as its toll on all stakeholders and the nation had been colossal. He said to arrive at the final list, no serving vice chancellor or pro-chancellor was included and membership was based on the record of service as recorded by the CVCNU. He said that the team comprised Professor Jibril Aminu, former Vice Chancellor, University of Maiduguri (UNIMAID); Emeritus Professor Olufemi Bamiro, former Vice Chancellor, University of Ibadan (UI); Professor Ekanem Braide, President, Academy of Science; and Dr Nkechi Nwagogu, former ProChancellor, University of Calabar (UNICAL). Other members of the team are Professor Joe Ahaneku, former Vice Chancellor, Nnamdi Azikiwe University (UNIZIK); Professor Fatima Mukhtar, former Vice Chancellor, Federal University, Dutse; and Professor Akpan Ekpo, former Vice Chancellor of University of Uyo (UNIUYO). Also in the team are Professor Yakubu Ochefu, Secretary General, Committee of Vice Chancellors of Nigerian Universities (CVCNU),

and Faborode. Adamu said, “We should not fold our hands and watch our ‘house’ collapse on us as elders. So, we should speak or act now. We do not have any other industry other than the university system. “Whatever can be done to bring all the actors to reason and broker peace using the Professor Nimi Briggs committee recommendations as the fulcrum, will be worth the effort. A lot had been done already and such patriotic efforts should not be wasted nor despised.” Faborode said the “Peace Team of Elders” would operate under the auspices of the CVCNU/ CPC, noting that both the federal government and ASUU are being reached to accept the intervention of the independent team of elders. He added, “The team will liaise with the Professor Nimi Briggs committee to understand the basis of the elements of their proposals, and check with both the federal government and ASUU to identify the areas of concern and objection. “Afterwards the team will brainstorm on how to mitigate the thorny areas and work with all the parties to bring the imbroglio to an amicable end in the interest of all concerned and the nation. “The meetings and consultations will be mainly online by Zoom and, perhaps, finally face-to-face to safe costs once we make progress. This is, however, subject to review as we proceed.”

Continued online

ASUU STRIKE: FG WILL NOT SIGN AGREEMENT IT CANNOT IMPLEMENT, SAYS MINISTER and Finance, the Head of Service and top government officials. “The meeting was also attended by the Sultan of Sokoto, the President of Christian Association of Nigeria (CAN), and all the other critical stakeholders, including the leadership of the four Universitybased Unions (ASUU, NASU, SSANU and NAAT). “There were two major outcomes of the meeting. The first was the decision to test the two proposed salary payment solutions, developed by the unions namely, the UTAS proposed by ASUU and the U3PS, jointly proposed by SSANU and NASU.” Adamu said soon after a Conciliatory Tripartite Meeting in May, the Briggs team concluded the re-negotiation with ASUU and produced a draft agreement, which was forwarded to the federal government, through the Minister of Education, for consideration and approval. He stated, “Similarly, the renegotiation with the non-teaching staff unions had since commenced, and an appreciable progress had been made towards producing the desired agreements for consideration and approval by their respective principals. “In the course of the exercise, the FGN Team made several attempts to wade into the industrial crises between the FGN and the university-based Unions, with a view to finding a lasting and

amicable solution to the challenges. “After a series of meetings with His Excellency, Mr. President, and the Minister of Finance, Budget and National Planning; Minister of Labour and Productivity; Minister of Communications and Digital Economy as well as the DG of Budget and the Chairman, Salaries and Wages Commission and the Minister of Education, the Draft Agreement was critically reviewed and the proposed salary increment considered unrealistic and out of tune with the current realities of the national economy.” On government’s offer, the minister said, “It was at this meeting that Mr. President approved that the Minister of Education should take over the negotiation and resolution of the crisis. Soon after the meeting, the Minister of Education conveyed the federal government’s offer to the Nimi Briggs Renegotiation Committee and to each of the four unions. “The package offered centred around the four positions agreed upon by the government. It is as follows: that the federal government can only afford a 23.5 per cent salary increase for all categories of the workforce in federal universities, except for the professorial cadre which will enjoy a 35 per cent upward review; “That henceforth allowances that pertain to ad-hoc duties of the academic and non-academic staff shall be paid as at when due by the

Governing Councils of Universities to which such services are rendered and to the staff who perform them; “That a sum of N150 billion shall be provided for in the 2023 budget as funds for the revitalisation of federal universities, to be disbursed to the institutions in the first quarter of the year. “That a sum of N50 billion shall be provided for in the 2023 budget for the payment of outstanding arrears of earned academic allowances, to be paid in the first quarter of the year.” However, the four universitybased unions, in separate letters addressed to the chairman of the Government Re-negotiating team, rejected the government’s offer. They described the offer as too inadequate to meet their respective demands needed to tackle the challenges confronting the university system. Meanwhile the federal government yesterday constituted another committee to look into the recommendations of the Briggs’ committee in charge of the renegotiation of the 2009 agreement between the government and the universitybased staff unions. The 14-man committee comprised some pro-chancellors, vicechancellors, and other stakeholders. The spokesperson for the Ministry of Education, Ben Goong, who briefed journalists after the meeting yesterday, noted that Adamu would chair the committee. Adamu inaugurated the 14-man

committee to look into the recommendations on the resolution of the lingering ASUU strike. Members of the committee included Professor Olu Obafemi; Briggs; Udo Udoma; Bashir Dalhatu; Professor Kayode Adebowale (University of Ibadan); Professor Kabir Bala (Ahmadu Bello University, Zaria); Professor Lilian Salami (University of Benin); Professor Charles Igwe (University of Nigeria Nsukka); Registrar of the Joint Admissions and Matriculation Board, Professor Ishaq Oloyede; representatives of the Academy of Letters, Science, Medicine and Social Sciences. The committee would also be chaired by Adamu.

Committee of VCs Recommend N800,000 Salary for Professors

In the meantime, the Committee of Vice Chancellors of Nigerian Universities (CVCNU) has urged the federal government to increase the salaries of university professors to N800, 000, as against the N1.2 million negotiated by the Briggs committee. This would represent a 50 per cent salary increase offer, as against the 23 per cent increase being proposed by the federal government. The committee also set up a sustainable peace team of elders to resolve the lingering impasse between the federal government and ASUU. The News Agency of Nigeria (NAN) reported that this was

WEDNESDAY, Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

RALLYING SUPPORT FOR MBAH'S GOVERNORSHIP AMBITION... L-R: Former House of Representatives member, Rt. Hon. Anayo Edeh, Enugu State PDP Chairman, Hon. Augustine Nnamani, Enugu PDP governorship candidate, Dr. Peter Mbah, Enugu State House of Assembly Speaker, Rt. Hon. Edward Ubosi, Enugu East Senatorial Zone's Chairman, Hon. Nnamdi Nwafor, during a zonal meeting in the state.

Kukah: Nigerians Must Interrogate Politicians Aspiring to Lead Them in 2023 Says nation has problem of team selection Emmanuel Addeh in Abuja The Bishop of the Catholic Diocese of Sokoto, Matthew Kukah, yesterday maintained that beyond campaign carnivals , Nigerians must interrogate those meaning to lead them after the 2023 general elections. Kukah, who spoke on Arise Television last night, urged the Nigerian electorate to “cross off” any politician who is interested in 2023 but refuses to show up to be questioned. He argued that beyond infrastructure, the next set of leaders must tell Nigerians how they intend to ramp up the value attached to the life of a Nigerian, recalling the case of Deborah Samuel, a student of Shehu Shagari College of Education, Sokoto, who was stoned to death for alleged blasphemy. Kukah maintained that there were a lot of disequilibrium in all facets of the country, noting that until injustices are addressed it will be difficult to enjoy peace in the country. “Last time somebody was killed on the ground that she had blasphemed against the prophet. You cannot live in a society where there are no rules or no regulations. “And the tragedy in all of this is that when it comes to religion, the people who are in power are usually in retreat. And yet the reality is that we will never

build a society unless we have a level playing field, because these are the reasons why I continue to contend because there are better stories somewhere that we can learn from,” he noted. He explained that whatever decisions have been taken by the political contenders in the run-up to the 2023 election shouldn’t necessarily be a matter of concern, explaining that it behoves the voters to decide who should lead them from next year. “In my view, these arguments will continue until we achieve an equilibrium. In 2023, there are things that are inevitable. There's nothing we can do about them. We have seen issues of team selection and it is left for Nigerians to make up their minds. “We should not spend too much time worrying about what has already been done. I've made up my mind, but I will finally make up my mind, however let me tell you what is something we must do. “And some of them, some of the media outlets are taking this very seriously, but beyond bringing these politicians in and having conversations with them, I think all interest groups in Nigeria must decide that this time around, things must be done differently,” he explained. Kukah who just clocked 70 years, argued that Nigerians must look

beyond the carnival-like campaigns to interrogate the politicians on areas of concern. “ This is because the traditional politics in Nigeria is that people sew uniforms, they enter the stadium, there's a bit of a jamboree and people are talking to one another. It's a carnival. “And then when we go through this carnival, we must develop the mechanisms and insist that these people answer our questions. So

for me, market women traders, young people, you must summon the politicians and the one who refuses to answer your call, you cross him off the list. “So for me, I think that the choices are obvious, but it must no longer be based on politicians scratching us where we are not itching. It's not about somebody telling us we're going to bring NEPA, we are going to build roads, we've heard all that. The

the SightSavers International to strengthen eye care services in the state. Asserting that no electoral ward in the state was without positive traces of his administration, the governor said project commissioning was hardly a measure of development or performance. He listed many of the administration’s completed projects in road, water, health, and education across the state, adding: “Beyond these, we have many ongoing projects that have been designed towards boosting the economic base of the state. “We have visual arts centre, film factory, garment factory, innovation hub, and of course the international conference centre. There are other major projects

built infrastructure. Apartheid built the best infrastructure in South Africa. It is about what is happening to the human person. How are human beings being treated. The other day, the ICRC was saying that 25,000 Nigerians were missing. “Does anybody care? This is not acceptable. It is reprehensible and it is condemnable and a society that can live with this cannot lead to anything different,” he declared.

Obi Efeizomor Marks 63 Years on Owa Throne Omon-Julius Onabu in Asaba

The traditional ruler of Owa Kingdom in Ika North-East Local Government Area of Delta State, HRM Emmanuel Oyinke Efeizomor II, yesterday, September 6, 2022, marked his 63rd year on the throne. Efeizomor II, who is the immediate past chairman of the Delta State Council of Traditional Rulers, was crowned king on the 6th day of September, 1959 as the 17th Obi of Owa kingdom. The royal father, whose passion for education, youth and socio-economic development is legendary, clocked 84 years on March 10, this year. Born into the Odogwu dynasty, the founder and first king of Owa Kingdom, Obi Efeizomor

II,is reputed for his uncommon servant-leader disposition. His quest for education saw him studying in Sapele, Port-Harcourt, Ibadan, Britain and the United States of America (USA). Armed with sound education, exposure and experience, he had a vision and mission to transform Owa into a modern and enviable kingdom, and proceeded to institute a formidable administrative structure that has steered the Owa kingdom in admirable direction that has earned the respect of people and kingdoms far and wide. He revived, mobilised and supported several community organisations of Ndiowa, including the Owa Patriotic Union, Owa Development Committee, Owa Youths Association and Boji-Boji

Kwara Governor Says State’s Devt Indices Have Changed for Good No part of Kwara State is without appreciable positive imprints of the Otoge administration, Governor AbdulRahman AbdulRazaq has said. According to him, significant progress has been made across sectors between 2019 and now. A statement quoted the governor to have said his investments in healthcare, education, rural-urban development, water facilities, and workers’ welfare were so significant that emerging data had shown a wide gap between what he met and the situation today. He said the administration has achieved a lot by working with development partners who had earlier left the state for lack of support, adding that the government now works with

question is what is happening to us as human beings,” he argued. Expressing shock over a recent report by the International Red Cross (ICRC) for instance, that over 25,000 persons were currently missing in the country, Kukah said that the next leader must tell Nigerians how he intends to address the problem. “Yes, our infrastructure has not been the best infrastructure. Infrastructure is not enough. Hitler

too which we will complete this year, such as the Ilesha Gwanara Road, the Tunde Idiagbon Bridge, Adeta-Yebumot Road, Osi-Obbo Road, and the largest squash court in the country which is eightwinged, among many others.” Asked to speak about the disagreement within the former Otoge allies, AbdulRazaq said it had nothing do with government’s performance or service delivery to the largest majority of the people but essentially about issues of political ambitions and interests which he said are legitimate in a democracy. “Whether in water, rural development, basic education or healthcare, or workers’ welfare, we have clearly delivered on our mandate and we continue to do

more,” he added. The governor also spoke on the future of the capital city Ilorin, which he said has been taken care of with the Ilorin City Master Plan — the second of its kind since Kwara became a state in 1967. “Most of the growths we have now are unplanned and that is why you have flooding, poor ventilation and lack of green space, among others. “The first and only plan of the city were done between 1967 and 1970s. It expired many decades ago without replacement. We have come up with a new one; we are also in the process of designing for Offa-Oyun axis, Igbomina, Patigi/Edu and Baruten axis of the state,” the Governor said.

Owa Community Development Committee. The respected traditional ruler, who has authored several books, gave active support to the establishment of Calvary Polytechnic, Owa-Oyibu and is currently a

visitor to the polytechnic. Meanwhile, activities marking the 63rd anniversary of the coronation are scheduled to begin this weekend and climax on Monday, coinciding with the kingdom's annual new yam festival.

APC Gives Staff Compulsory One Day Holiday as Tinubu Visits Today Adedayo Akinwale in Abuja The All Progressives Congress (APC), has given one day compulsory holiday to all its staff as the Presidential Candidate of the party, Asiwaju Bola Tinubu, visits the national secretariat today. The holiday, according to a memo issued yesterday by the Director of Administration, was to ensure crowd control. It’s the first time Tinubu is visiting the party's secretariat since he emerged its presidential candidate in June. Tinubu is expected to hold meetings with the National Working

Committee (NWC) of the party. The memo sighted by THISDAY and titled: 'Notification of One Day Off Duty' exempted the security personnel attached to the secretariat and some staff. "With reference to the above subject matter, all staff is hereby directed to go on one day off duty tomorrow 7™ September, 2022. "This directive has become necessary for crowd control during the visit of the Presidential Candidate of the Party. "However, the under-listed category of staff will be on duty to render services for the day," the memo read.

Atiku Appoints Aniagwu Presidential Campaign Spokesman The presidential candidate of the Peoples Democratic Party, Atiku Abubakar has appointed the Commissioner for Information in Delta State, Mr. Charles Aniagwu as one of his spokesmen for the 2023 presidential campaign A statement signed by Atiku’s Media Adviser, Paul Ibe noted that Aniagwu’s appointment

takes immediate effect, with the responsibility, among others, to keep the electorate up to speed with happenings in the presidential campaign. Aniagwu is a veteran broadcaster with over two decades experience in the media industry. He joins other appointees who had been announced earlier as spokespersons to the campaign.

WEDNESDAY SEPTEMBER 7, 2022 ˾ T H I S D AY

NEWS

UBA EXECUTIVES VISIT GABON…

Managing Director/CEO, United Bank for Africa (UBA) Plc, Gabon, Eugenia Onyekwelu; Director of Cabinet, Ministry of Finance and Economy, Gabon, Jean Hilaire Taty Mavoungou; Group Managing Director/ CEO,UBA, Oliver Alawuba; Gabon’s Minister of Finance and Economy, Nicole Jeanine Roboty Mbou; Regional Chief Executive Officer - CEMAC, UBA, Amie Sow; Deputy Managing Director, UBA Gabon, Wilfred Ogouth, and Executive Director, Risk and Finance, UBA, Ugo Nwaghodoh, during the visit of executives of UBA to the Minister in Brazzaville, Gabon…recently

Lawyer Jailed Five Years for Drug Trafficking Wale Igbintade A Federal High Court in Lagos yesterday convicted and sentenced a 26-year-old female lawyer, Sulaimon Kaosarat Yetunde, to five years imprisonment for

trafficking in cannabis sativa, a prohibited weed. The convict, who studied law from one of Benin Republic Universities, was convicted by Justice Daniel Osiagor, after she pleaded guilty to charges of

conspiracy and unlawful export of exported 1.10 kilogrammes of Cannabis Sativa. The prosecutor, Mr. Abu Ibrahim, told the court that the convict, a resident of 28, Fehintola Giwa Street, Aguda - Surulere, Lagos, was arrested on July 18, 2022, at Export Shed of National Handling Company Limited (NAHCO), a

Customs Area/Point of the Murtala Muhammed International Airport, Ikeja-Lagos, when she attempted exporting the banned weed. Abu told the court that the convict procured one Benjamin Christopher Joel, to commit the illegal act. He further told the court that the offences committed by convict

contravened Sections 21 (2)(d) and 11 (b) of the National Drug Law Enforcement Agency Act Cap. N30, Laws of the Federation of Nigeria, 2004 and punishable under 11 (b) of the same Act. The convict pleaded guilty to the charges. Following her plea of guilty, the prosecutor urged the court to convict and sentence her in

accordance with relevant sections of the law. But, defence counsel, Benson Ndakara, pleaded with the court to be lenient with his client, and to put into consideration that the convict was a first time offender, who is now remorseful of her action and promised never to engage in such act.

Michael Olugbode in Abuja

Defence Corps (NSCDC), Dr. Ahmed Audi, recently lamented that some of his men were colluding with some criminal elements to vandalize oil pipelines and engage in illegal oil bunkering. Audi, few days ago had inaugurated an investigative/ disciplinary panel on the case of alleged extortion of men of the Corps in River State after images emerged to show this on social media.

Determined to ensure the actualisation of its mandate of protecting critical national assets and infrastructure as well as confronting the menace of oil theft in the country, the NSCDC yesterday announced the dissolution of its Anti-vandal units nationwide. Announcing the dissolution in Abuja, Audi revealed that the Minister of Interior, Ogbeni Rauf Aragbesola approved the

measure to reposition the Corps for better service delivery. Audi also directed that all illegal roadblocks mounted by the antivandal unit across the nation be dismantled with immediate effect. He said: “In view of the recent developments in some states and the unsatisfactory performance of the unit in the past few months, there is need to sanitise and bring fresh zeal to the operations of the unit.

Anambra Community Celebrates New Yam Festival NSCDC Dissolves Anti-vandal Unit Nationwide served as means to bring the Sunday Okobi Amorka Town, a boundary community in Ihiala Local Government Area of Anambra State, has finally celebrated the long-awaited New Yam festival. The New Yam Festival popular known as Iwa ji, Iri ji or Ike ji is an annual cultural festival by the Igbo people held at the end of the rainy season in August and September. The Iri Ji festival is not only practiced in Nigeria but also in Ghana and in some African countries and beyond. Speaking to journalists during the celebration in Amorka, the Traditional Ruler of Amorka Kingdom, Igwe K.O. Obiriolemgbe, said the celebration

people together to display their cherished and rich culture and traditions. According to him, “It is an important event for us because both our people who stay far and near always attend the August event and use the opportunity to brainstorm on the way forward of the community.” Also speaking, the acting Traditional Prime Minister of Amorka, Chief Sir Chinweuba L Ndukaihe, on behalf of the Amorka Council of Chief and the people of Amorka, thanked the Almighty God for a bountiful harvest this year 2022 and for giving them the grace to witness another New Yam (Iri Ji) celebration.

LG Chair Distributes N4m to Vulnerable Persons in Katsina FrancisSardaunainKatsina The Chairman of Safana Local Government Area of Katsina State, Hon. Muhammad Kabir Umar has distributed N4 million to 200 vulnerable persons and owners of small and medium enterprises in the local government. Speaking while distributing the funds to the beneficiaries yesterday at the council’s secretariat, Umar said the gesture was aimed at revamping their businesses and assuaging their suffering of the vulnerable people. He explained that the beneficiaries, who were selected across the

10 electoral wards of the local government, received N20,000 each, assuring that the gesture would be a continuous one in every month. He said: “The essence of this is to alleviate poverty among our people and to boost the businesses of small and medium enterprises in the local government and to make them self-reliant. “The amount we distributed today (Tuesday) is N4 million and the targeted beneficiaries are 200 both males and females. The 200 beneficiaries were selected from the 10 political wards of the local government”.

Ugwuanyi Appoints more Officers for Medical Varsity Governor Ifeanyi Ugwuanyi of Enugu State has approved the appointment of other principal officers of the newly established State University of Medical and Applied Sciences (SUMAS), Igbo-Eno, Enugu State. Ugwuanyi recently approved the appointment of Prof. James Chukwuma Ogbonna as the Vice Chancellor of the medical university. In a statement by the Secretary to the State Government (SSG), Prof. Simon Uchenna Ortuanya, yesterday, Ugwuanyi appointed Mr. Anselem Ugwu Onah as the Registrar of the university. Onah until his appointment

was the Acting Registrar of the University of Nigeria Nsukka (UNN). The governor also appointed Dr. Elvis Emeka Ozoadibe, a Chartered Accountant, as the university’s Bursar. Until his appointment, Ozoadibe was the Deputy Bursar of UNN. According to the statement by the SSG, the former Deputy Librarian, Enugu State University of Science and Technology (ESUT), Associate Professor Monica Eberechukwu Eze was appointed as the university’s Librarian. All appointments take effect from yesterday, the 6th day of September, 2022.

The Nigeria Security and Civil Defence Corps (NSCDC) has dissolved its Anti-vandal units nationwide. This may be connected with the growing rate of oil theft and vandalism of oil pipelines and illegal oil bunkering which has nearly brought the nation’s economy on its knees. The Commandant General of the Nigeria Security and Civil

Ogun PDP not Factionalised, ‘ll Respect Court Verdict, Says Showunmi Factional governorship candidate of the Peoples Democratic Party in Ogun State, Otunba Segun Showunmi, yesterday said there is no division in the party, stressing that all stakeholders and members of the party will accept the verdict of the court on its authentic flagbearer ahead

of the poll. Showunmi, who stated this at a pre-campaign briefing in Lagos, expressed optimism and confidence that he would be on the ballot in the governorship election in Ogun State, especially as a Court of Appeal in Abuja had given a consequential order dismissing the ruling of a lower court

over jurisdiction to hear the suit between him, the PDP and others. The governorship candidate noted that his campaign ahead of the governorship race would fully commence on September 28, this year, adding that his style would be issues-based. According to him, he

would be running a “new deal” that would transform Ogun State. While reiterating his acceptance of party supremacy both at the national and state levels, Showunmi maintained that the primary election conducted by the Ladi Adebutu camp remained a charade and would not stand.

Group Faults Invitation of NDDC Finance Director by EFCC Blessing Ibunge inPortHarcourt A Niger Delta group under the aegis of Niger Delta Peace and DevelopmentAdvocates (NDPDA), has faulted the circumstance leading to the invitation of the Director of Finance in the Niger Delta Development Commission (NDDC) Mr. Eno Ubi Out, over

an allegation of diversion of N25 billion tax remittance covering a period of 15 years. The youth advocacy body for good governance in the region queried why the Economic and Financial Crimes Commission (EFCC) had to wait for almost 21 years before they carried out such an important inquiry into

the non-remittance of VAT by the NDDC. In a statement jointly signed by the President of the group Comrade Kelvin Ebi Thomas and the Secretary Ambassador Taunu Jude, in Port Harcourt, the group said as commendable as the effort of the financial crimes commission for the routine procedural

investigation into tax compliance of the NDDC as raised by Federal Inland Revenue Service (FIRS), the current Director of Finance, Mr. Otu, under investigation was not close to the cadre of a management staff during the period under review being 2001-2015 and could not have been involved in the alleged non remittance of taxes

Uzodimma Links Safety, Peace in Imo to God Amby Uneze in Owerri

Governor Hope Uzodimma of Imo State yesterday said the survival of the state from the various gunmen attacks and other high level criminality witnessed in the past two years have proved that God is in the state. The governor spoke in

Owerri on the occasion of the second edition of “Imo Unity Prayer and Praise Convention” organised by the Christian Association of Nigeria (CAN) Imo State Chapter. The prayer and praise session was attended by believers from different Christian denominations Catholics, Anglicans,

Methodists, Presbyterians, Pentecostals among others. Uzodimma said God has remained faithful and gracious to Imo State hence the prayer and praise session is appropriate. “God has been there for us. In good times and in challenging times, he is always there. There is evidence everywhere to show

that Almighty God is in Imo State. We were challenged but we didn’t go retaliating. We put our knees on the ground. We prayed and God answered us,” he said. Uzodimma, who assured the Church of his government’s partnership said his is a Godfearing government.

EFCC Arrests 40 Suspected Internet Fraudsters in Lagos KingsleyNwezehinAbuja The Economic and Financial Crimes Commission, (EFCC), said yesterday that operatives of the Lagos Zonal Command of the commission have arrested 40 suspected internet fraudsters in some parts of Lagos State. They were arrested at Awoyaya

and Oral Estate areas of Lekki, Lagos State on August 29, and September 1, 2022, following credible intelligence received by the anti-graft agency about their alleged involvement in computer-related fraud, identity theft and obtaining money under false pretence. A statement by the commission

listed the suspects to include: Doroye Olumide Joseph; Ajayi Oluwaseyi Emmanuel; Olalekan Olaniyi Akonji; Oluwadare Samuel Olawale; Oloyede Olakunle; Okon Ayomide Cornelius; Omokaro Ailele Jeffery; Oyedokun Opeyemi Abdulrazaq; Olowofela Temidayo; MosessOssai;DadaSamuelAbiodun;

Francis Victor Oluwatobi; Ayobami Akanji; Osun Gbenga; Ajayi Femi; Adewara Oluwadamilola; Anthony Okun; Olusegun Ibukunoluwa; Boluwatife Adewale; Jerry Agoh; Oluseye Ayomipo; Anthony Adedolapo Dada; John Adamso Tobi; Asagba James Oluwaseun, and Ideh Rukeme Oghenetega.

WEDNESDAY SEPTEMBER 7, 2022 ˾ T H I S D AY

NEWSXTRA

HAYAT UNVEILS NEW PRODUCTS……

L-R: Sales Director, Hayat Kimya Nigeria, Motayo Latunji; outgoing Managing Director/GM, Doruk Emiroglu; current MD/GM, Celik Basdemir, Marketing Manager, Roseline Abaronye, during the launch of baby diaper and sanitary pad in Lagos…recently

Police Arrest 21 Suspects, Rescue 15 Children in Rivers Hammed Shittu in Ilorin

Another communal feud between Erin-Ile and Offa communities in Kwara State is imminent, as the people of ErinIle community under the aegis of Erin-Ile Progressive Union in Oyun Local Government

Area of the state have warned the state government against alleged plan to recreate another boundary between the town and Offa. The community rather stated that the only panacea to the lingering crisis is for the state government to implement the

2018 Supreme Court judgment on the Offa/Erin-Ile dispute. The two sister communities had for many years clashed over land matter leading to loss of lives and property. Speaking at a news conference in Ilorin yesterday, the National Legal Adviser, Erin-Ile Progressive Union, Mr.

Amos Adewoye, said: “The recent constitution of kangaroo committee of mediators for peace between Erin-Ile and Offa towns over land dispute is an attempt to rewrite the Supreme Court judgment and impose its own whims and caprices to establish an illegal and unconstitutional

boundary between the two communities.” The community claimed that the Supreme Court in December 2018 affirmed that the Federal Polytechnic and Offa Descendants Union’s national secretariat fall within Erin-Ile land. Adewoye, however, advised

the state government to desist from its current attempt at recreating another boundary between Offa and Erin-Ile to avert anarchy. Adewoye, represented by Muyideen Bello, added that the state government, by its current action, is embarking on the path of anarchy.

NMA Condemns Abia Another Communal Crisis Looms in Kwara over Boundary Dispute Govt over Non-payment Hammed ShittuinIlorin to recreate another boundary lives and property. and impose its own whims and between the town and Offa. Speaking at a news conference caprices to establish an illegal The community rather stated in Ilorin yesterday, the National and unconstitutional boundary communal feud between of Doctors’ Salaries Another Erin-Ile and Offa communities that the only panacea to the Legal Adviser, Erin-Ile Progressive between the two communities.” Segun Awofadeji inGombe

The Nigeria Medical Association (NMA) has condemned the government of Abia State for not paying doctors and other health workers their salaries and allowances for 24 months now. The association gave the condemnation yesterday at a press conference after the closure of its 2022 National Executive Council (NEC) meeting held at the Gombe International Hotel in Gombe State. National President of the association, Dr. Uche Roland Ojinmah, who addressed the press conference, said they were

disappointed over the failure of the government of Abia State to pay their members’ salaries and allowances in the state, pointing out that doctors are essential workers in the society who should be motivated to work. Ojinmah also lamented the poor salaries received by health workers nationwide, claiming that the last time their salaries were reviewed was in 2009. According to him, as a result of the poor remunerations, many doctors have left Nigeria to other countries, thereby causing shortage of manpower in the health facilities in Nigeria.

Mercy Corps Nigeria Empowers 24,000 Adolescents in Kano IbrahimShuaibuinKano Mercy Corps has launched life skill programmes for 24,000 adolescents in Kano as part of an intervention to upscale their entrepreneurial skills. The empowerment programme tagged “Girls Improving Resilience Through Livelihoods and Health” (GIRL-H programme) is designed for beneficiaries between the ages of 10 and 24. The Country Director of Mercy CorpsNigeria,Mr.NdubisiAnyanwu, disclosed that 24,000 adolescent and young people between the ages of 10 and 24 who are out of school in

Kano and Lagos would be educated. He said: “Mercy Corps Nigeria has been in operation since 2012 working in areas of education, conflict, livelihood and cash intervention, among others reaching a cumulative of 2.64 million people in fiscal year 2012.” Anyanwu spoke yesterday at Ungogwo Local Government while launching the Girl H- program in collaboration with Isa Wali Empowerment initiative held at district head palace, explained that they will undergo weekly sessions on skills, numeracy, literacy and business education before they are transitioned to livelihood pathways to success.

Stakeholders Call for Review of Law Establishing KOTRAMA in Kogi Ibrahim Oyewale inLokoja Stakeholders have in separate memoranda called for the review of the activities and the legality of the operations of Kogi State Transport Management Agency (KOTRAMA). The stakeholders also concluded that its law should be repealed and re-enacted for better performance by focusing on the core purpose the agency was established. The call came on the heel of a public investigation carried out at the hallowed chambers of the Kogi State House of Assembly

yesterday. The operatives of KOTRAMA have allegedly been involved in illegal operations covering wide range arresting, imposing fines, seize vehicles indiscriminately and putting on necessary pressures on the victims demanding what is not. While speaking at the floor of the House, the Acting Chairman, House Committee on Transportation, Mr. Cosmas Atabor, said that the investigation was meant to review the activities and constitutionality of the activities and constitutional provision of the agency.

in Kwara State is imminent, as the people of Erin-Ile community under the aegis of Erin-Ile Progressive Union in Oyun Local Government Area of the state have warned the state government against alleged plan

lingering crisis is for the state government to implement the 2018 Supreme Court judgment on the Offa/Erin-Ile dispute. The two sister communities had for many years clashed over land matter leading to loss of

Union, Mr. Amos Adewoye, said: “The recent constitution of kangaroo committee of mediators for peace between Erin-Ile and Offa towns over land dispute is an attempt to rewrite the Supreme Court judgment

The community claimed that the Supreme Court in December 2018 affirmed that the Federal Polytechnic and Offa Descendants Union’s national secretariat fall within Erin-Ile land.

FCDA Boss Condemns Corruption in Staff Multi-purpose Cooperative Society Olawale Ajimotokan inAbuja The Executive Secretary, Federal Capital Development Authority (FCDA) Shehu Hadi Ahmed has flayed the corruption and indebtedness at the FCDA Cooperative Society. He voiced the concern when the FCT, Director of Cooperatives, Gbemi Omole, led a delegation of the newly inaugurated Executive

Committee members of the FCDA Staff Cooperative Society to him. Ahmed bemoaned what he noted had become the fate of the FCDA Cooperative Society which he described as, “the foundation of all cooperative societies in the FCTA but which for now can be said to be the worse, most indebted and most corrupt.” He also expressed dismay at the grandstanding, recourse

to godfatherism and blackmail displayed by some of the people who have contributed in running down the cooperative society. The executive secretary vowed that henceforth anybody found to have betrayed public trust will be made to answer for their actions no matter how long it takes. He said the FCDA management was not unaware of the problems bedeviling the FCDA staff

cooperative society as could be seen from the recent setting up of a four-man committee comprising the FCT Director of Cooperative and Directors of Finance and Administration, Internal Audit and Legal Services in the FCDA to review the issues and come up with recommendations, which according to led to the postponement of the initial date set aside for the conduct of the recently held elections.

Oyo 2023: Folarin Lauds APC Aspirants for Withdrawing Lawsuits Kemi Olaitan in Ibadan The governorship candidate of the All Progressives Congress (APC) in Oyo State, Senator Teslim Folarin, yesterday lauded a member of the Revenue Mobilisation and Fiscal Commission, Hon. Bimbo Kolade, and other aspirants in the last primary elections for withdrawing cases filed against

the party from court. This is just as the former Senate Leader commended them for their spirit of sportsmanship, loyalty and ultimately their contributions to the anticipated victories of the party in 2023. Folarin pledged to ensure that all interests in the party are accommodated, compensated and supported even after the

2023 elections as the party would run an all-inclusive government. The three-term senator similarly appreciated party leaders who facilitated the withdrawal of cases pending in courts following different interests that surfaced after the party’s primary elections, especially Senator Olufemi Lanlehin-led reconciliation committee, for ensuring that the

party is waxing stronger. The chairman, Senate Committee on Local Content in a statement made available to journalists in Ibadan yesterday said it was on record that all senatorial, House of Representatives and House of Assembly aspirants have withdrawn their cases filed against candidates and the party from the courts

Court Restrains PDP from Expelling Babayemi in Osun Bennett Oghifo An Osun State High Court sitting in Osogbo yesterday restrained the Peoples Democratic Party (PDP) from expelling Omooba Dotun Babayemi, one of its gubernatorial candidates in the last primary election, from the party, pending the determination

of the substantive suit. Besides, the court warned the party and its agents against taking actions contrary to this order till the substantive suit is determined. Presiding Justice Jide Falola maintained that the court is there to intervene where there is serious dispute such this, adding, “In effect, I find merit in the Motion

Exparte for Order of Mandatory Interim Injunction especially as disposed to in the affidavit in support of the notion.” Justice Falola warned that the1st to 10 Defendants/ Respondents “shall suspend all steps taken or are planning to take with a view to giving effect to the purported expulsion of

the plaintiff/Applicant, and shall not embark on any punitive against the plaintiff/ Applicant” Justice Falola further directed that the rights and privileges of Babayemi be restored in the interim as a full-fledged member of the PDP in Otun Balogun Ward 2, Gbongan.

Adamawa APC Divided over Removal of Chairman Daji Sani inYola

Supporters of the embattled Adamawa State Chairman of the All Progressive Congress (APC), Mr. Ibrahim Bilal, have described his purported sack yesterday as unconstitutional. But the supporters of the new Acting Chairman, Mr. Samaila

Taddwus, have declared that Bilal’s impeachment stands. Bilal was sacked yesterday by 25 members of the state executive committee of the party through a vote of non-confidence for alleged corruption and other offences and immediately endorsed his deputy as the new chairman, Taddwus to act.

The development has created fresh crisis in the party with the emergence of two parallel chairmen. He said that only the National Working Committee of the APC has the exclusive reserve to remove an elected chairman of a party. He described the rapacious actions of a few element, who

are bent at plunging a virile party into crisis. “While we await the dust to settle on my purported removal as chairman, I am encouraged by the outpouring of goodwill messages from party stakeholders, who said that his grave desecration of the rule of law will never be allowed to prevail.

WEDNESDAY, Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Napoli Sweat over Osimhen's Fitness ahead of Liverpool Visit Spalletti fractures shoulder

Kunle Adewale withagencyreport Ahead of Napoli's opening group match of the 2022 /23 UEFA Champions League encounter against Liverpool at the Stadio Maradona today, the Serie A side are sweating over the fitness of Super Eagles striker, Victor Osimhen. The Nigeria international suffered a minor muscle-related injury in Napoli's 2-1 road win over Lazio on Saturday but managed to go the distance. Napoli were straight back to work at the Konami Training Centre for a recovery session on Monday morning, but Osimhen trained on his own following the knock he suffered in the closing minutes against Lazio. Through their official website, the Blues provided a fresh update on the fitness of Osimhen at the end

of training on Tuesday, stating that the number 9 followed his own programme in the gym and on the pitch. Osimhen started the 2022-2023 season on fire, scoring in each of his first two matches in the Serie A but went three games without scoring after firing blanks against Lazio this past weekend. Last season, the 2015 U17 World Cup winner missed 13 matches played by Napoli as a result of fitness issues. It has come to light that the Super Eagles star played through the pain barrier in the closing minutes of the Serie A match against Lazio after suffering a minor muscle-related injury. Napoli manager, Luciano Spalletti has said that he'll make a decision about the availability of Osimhen after training today.

Osimhen did not train fully with the Napoli squad yesterday morning at SSCN Konami Training Centre. In quotes relayed by Football Italia, Spalletti said : "With regards to Osimhen yesterday he experienced some pain, so he didn’t train yesterday and trained separately today. "Tomorrow he will train with the group provided he feels better than today. Tomorrow, if he feels up for it, he will try and shoot, try to do a bit more with the ball and if he has a positive feeling about that, like this morning, he will be available for selection."

Osimhen has started all the five matches played by Napoli in the 2022-2023 season, logging 425 minutes and has two goals to his name. The 23-year-old has netted three goals combined in two appearances against Premier League opposition in European competition - a brace against Leicester City in the Europa League and once against Chelsea in the Champions League during his Lille days. In a related development, Napoli manager also fractured his shoulder ahead of the match. 'I was involved in an accident on

Sunday,' the Italian, 63, told reporters. 'I was here to oversee a training session for Salvatore Sirigu and Diego Demme. I'm always here when players are training. 'Unfortunately, I fractured a bone in my shoulder and experienced a lot of pain. I went for some check ups at the clinic in Milan, I had an x-ray, and that confirmed that I had a fracture. 'I managed to return to Naples tonight with a friend. I missed yesterday's training session but now it's all good, I have my captain here to support me,' he said smiling to Napoli skipper Giovanni Di Lorenzo

RESULTS D’Zagreb Salzburg Dortmund Sevilla Benfica PSG Celtic Leipzig

Adepoju Hails Sadiq, Says He Reminds Him of Yekini Super Eagles forward, Umar Sadiq has received huge praise from Real Sociedad icon Mutiu Adepoju with the 1994 Africa Cup of Nations-winning midfielder likening him to Nigeria's all-time top scorer in history with 37 goals, Rashidi Yekini. The former Almeria man became

Sadiq Umar

Real Sociedad's most expensive signing in history when he arrived at The White and Blues on deadline day for a fee of 20 million euros. Real Sociedad signed him as a replacement for Alexander Isak who switched to Newcastle United this summer. Defenders have had a hard time figuring how to stop Sadiq from finding the net in the new season as he has scored against all his opponents apart from Real Madrid on the opening day when he made his La Liga debut. Nine minutes after his introduction off the bench, he scored a crucial equaliser which earned Real Sociedad a share of the spolis in a 1-1 draw against Atletico Madrid on Saturday. When asked if he congratulated Sadiq on his debut goal, Adepoju told Mundo Deportivo : "No, I have never spoken to him; but I follow him, I watch all his games and he seems like a great player, he can give more. "He reminds me of another Nigerian we had, Rashidi Yekini, who we used to call 'gangling'. I think Sadiq is young and can catch up with Yekini (Nigeria's all-time top scorer, sadly deceased at 48). "He has a goal, quality, height and runs more or less like him." In a four-year stint at Real Sociedad, Adepoju recorded 98 all-competition appearances, scoring eight goals. At international level, the former Real Madrid youth teamer is best remembered for scoring against Spain at the 1998 World Cup.

Amoo Suffers Season-ending Injury FC Copenhagen have announced that Super Eagles hopeful, Akinkunmi Amoo will miss the rest of the season. The Danish Super Ligaclub made this known through a statement on their official website. Amoo got injured during the team's training last weekend, and is expected to be out for at least nine months due to a knee injury. The former Nigeria youth international will undergo surgery before starting his rehabilitation. This is Amoo's third injury in the space of five months, having suffered a sprain in the back thigh (May) and another in July 2022. The 2022 Super Eagles invitee hasn't enjoyed his time with the

Lions, having suffered multiple injuries that have reduced his chances of getting minutes. He joined FC Copenhagen from Allsvenskan outfit Hammarby in the 2022 winter transfer window. Amoo has one goal contribution (a goal against Nordsjaelland in March 2022) in four appearances for the Danish giants. The Sidos FC product has made the matchday squad on four occasions, featuring twice and accumulating 38 minutes of playtime for FC Copenhagen this season. All things being equal, Amoo will be back on the pitch as from July 2023.

who was sat next to him. 'You'll be seeing me with this sling for a while now, for at least a month.' Spalletti, formerly of Roma and Inter Milan, also warned Liverpool that they will be walking into a cauldron of noise on Wednesday night. 'We know the strength that Maradona can give us,' he said. 'I am sure that tomorrow the Champions scream of our stadium will reach Anfield. The enthusiasm must prevail over the tension and our fans know how to give us a lot of life.'

1-0 Chelsea 1-1 AC Milan 3-0 Copenhagen 0-4 Man City 2–0 Mac'Haifa 2–1 Juventus 0-3 R’Madrid 1–4 Shakhtar

TODAY Ajax Napoli Atletico C’Brugge Barcelona Inter E’Frankfurt Tottenham

v Rangers v Liverpool v FC Porto v Leverkusen v Viktoria Plzen v B’Munich v Sporting v Marseille

Victor Osimhen

Draw for Betsy Obaseki Tourney Holds Today 13 teams set for pre-season battles Adibe EmenyonuinBeninCity The draw for the second edition of the Betsy Obaseki Women Football Tournament (BOWFT) will take place today at the New Festival Hall, Government House, Benin City, Edo State. A total of 13 female football teams are set to compete for glory at this year’s edition of the annual tournament scheduled to kick off from Wednesday, September 7, 2022 through to Saturday, September 17, 2022 The winner of the tournament, focused on driving the government’s campaign against drug abuse, will smile home with N5million, while the first and second runner ups will get a cash reward of N2.5million and N1.5 million respectively. The Chairman of the BOWFT Media and Communications Sub-Committee, Crusoe Osagie, while addressing journalists in Benin City, said the draws will set out the participating teams in different groups. He added that the draws will take place by 6pm in Government House and will be graced by critical stakeholders in Nigeria’s women football industry and the larger sporting community. Earlier, while inspecting facilities ahead of the games opening, the Edo First Lady, Mrs. Betsy Obaseki, said the state was ready for the

successful hosting of the tournament and the players are ready to do better than they did last year. She noted, “We have private and corporate sponsors. The first edition was world-class and we got international recognition from

FIFA for our effort. We will improve on it this year. We plan to have other activities aside from football. The competition is not all about football.” Betsy Obaseki said the competition last year focused

on human trafficking, adding, “This year, it will be focusing on combating drug abuse in Nigeria. We will have discussions around the topic with our young girls and also invite secondary school students to have interactions with us.”

Tyson Fury Sends a '60/40 Split' Offer to Fight Anthony Joshua Tyson Fury has said that his written offer to Anthony Joshua is a 60/40 purse split deal for a straight shot at his WBC heavyweight world title this year. WBC heavyweight champion Fury handed Joshua a shock world title lifeline on Monday, challenging him to a December Battle of Britain. Joshua has since publicly accepted the offer, which prompted his promoter Eddie Hearn to speak to Fury's representative Frank Warren to both have their say on arranging the fight. Fury has now taken to Twitter to confirm his offer of a 60/40 split purse, by saying: 'I'm being bombarded with messages of how much am I going to pay AJ. 'Everyone is saying 80/20, 70/30, 75/25, the actual answer is I've offered him 60/40. 40 per cent of this amazing fight because I want this fight to happen. 'He doesn't have any excuses

BATTLE OF THE BRITS now not to take it, he can't say I've lowballed him by offering him 20 or 30%. 'I've offered the people 40%, take it or leave it, let us know.' A generous offer considering Fury's last fight with Dillian Whyte was an 80/20 split purse, showing how keen the WBC champion is to get the fight agreed. His post comes after both Warren and Hearn shares their views on TalkSport earlier today. Warren said: 'The terms we are gonna put forward I think are very, very fair. Tyson is being extremely fair.' His comments came in response to Matchroom Boxing chief Eddie Hearn revealing that he has opened talks with Warren over a potential heavyweight showdown fight.

Hearn told TalkSport: 'I said to George Warren last night, 'Get the details over to us, get the offer over to us. I will take it to AJ, he's ready to go.' 'We didn't expect this opportunity, but it's a great opportunity to fight for the world heavyweight title in the biggest fight in boxing. 'And we will definitely look at it.' Fury and Joshua were set to do battle last year after agreeing a two fight deal in March 2020. Deontay Wilder, however, scuppered the undisputed bout when he won his arbitration for a trilogy fight with Fury. Hearn remains skeptical about whether or not the 'Gypsy King' is serious about the fight, having also challenged both Usyk and Derek Chisora in recent weeks. 'I'd love to get really excited about this because I think it's the fight I get stopped on the street for more than any fight that could be made.

Wednesday, September 7, 2022

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MISSILE Wike to Ayu “Ayu said we are children. Yes, the children brought you from the gutter to make you chairman. Now we have seen that you don’t want the party to win election, we will help you.These children you said we are, that brought you from nothing” --- River State Governor Nyesom Wike berrating PDP Chairman Iyorchia Ayu

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Signiﬁcance of Gorbachev “A great man is not a hero in the sense that he can stop, or change, the natural course of things, but in the sense that his activities are the conscious and free expression of this inevitable and unconscious course. Herein lies all his signiﬁcance; herein lies his whole power…” – George Plekhanov (1856-1918).

n the vibrant days of the Communist Party of the Union of Soviet Socialist Republics (USSR), the roles played by the would-be successors at the funeral of a deceased party leader was imbued with a lot of political and ideological messages. The sitting arrangement during the solemn occasion was not a random affair. The relegation or promotion of party cadres often began with the recognition accorded them at the funeral of a departing leader. So the funeral of a party leader was not just a ceremony to bury the dead. It was often meant to make a statement about the future of the living. When the leader of the Bolshevik revolution, Vladimir Lenin, died in 1924, Joseph Stalin tactfully and strategically assumed prominence in the funeral activities. By implication, this was more than a symbolism to Stalin’s rival, Leon Trotsky, and his tendency in the Bolshevik party. Stalin eventually succeeded Lenin as the leader of the party and expectedly moved against the great revolutionary, Trotsky, and others who could challenge the authoritarian leadership. Perhaps, the USSR of which Gorbachev emerged as the leader in 1985 could have been a more democratic one in socialist terms if Trotsky had succeeded Lenin. Well, that would ever remain a matter of historical conjecture. Although Russia today is not governed by a communist party, yet it was in the context of this political culture that the conspicuous absence of Russian President Vladimir Putin at the funeral of the historical figure, Mikhail Gorbachev, at weekend should be understood. Putin’s absence has been variously interpreted by observers. To the admirers of Gorbachev, the man who presided over the dissolution of the USSR , a world power that existed for over eight decades in the last century, Putin snubbed the memory of a “hero of democracy.” For many on the left the memory of Gorbachev is cast in that of a “traitor to the cause of socialist revolution.” For Putin, an avowed Russian nationalist, the dissolution of USSR for which history would hold Gorbachev responsible was the “greatest geo-political catastrophe” of the 20th Century. In between these polar ends of the assessment will eventually lie the true verdict of history on Gorbachev. Now, pondering the historical significance of Gorbachev, his role in the collapse of USSR is really the central question. Those who still mourn the USSR do so not for mere emotional reasons. There is a material basis for this deep sense of loss. The positive impact of USSR on humanity cannot be denied even by the worst cynics at least in three areas. First, Soviet Union was a formidable force against fascism in the first half of the 20th Century. That great country made enormous sacrifices. The West alone could not have broken the teeth of Hitler’s Nazism without the wise alliance with the Soviet Union under the leadership of Stalin. Soviet Union lost over 20 million persons and hundreds of towns and villages were destroyed

Gorbachev during World War II. Secondly, it was the Soviet Union that supported anti-colonial struggles in Africa, Asia and other parts of the world. The struggle for national independence was a major issue of democracy in the 20th Century. The USSR supported these struggles for human freedom. The West focussed on the Iron Curtain in Europe; but they ignored the Steel Curtain of colonial brutalities and inhumanity in Africa. Soviet Union did the opposite. Thirdly, the rise of the welfare state was in response to the revolutionary inspiration that the exploited and “the wretched of the earth” got from the Soviet Union in the struggle for social justice and equity. The USSR was in this respect a force for the good of humanity. That is why its dissolution is lamented by forces of human progress. The collapse of the Soviet Union posed a dilemma to progressive forces worldwide. And Gorbachev was seen as the culprit. The British Marxist historian, Eric Hobsbawm, summarised things in 1990 as follows: “ Capitalism and the rich have, for the time being, stopped being scared… “Why should the rich, especially in countries like ours (Britain) where they now glory in injustice and inequality, bother about anyone except themselves? What political penalties do they need to fear if they allow welfare to erode and the protection of those who need it to atrophy? This is the chief effect of the disappearance of even a very bad socialist region from the globe.” Incidentally, it was the Russian Marxist George Plekhanov, an ideological and political forebear, who theorised 33 years before the birth of Gorbachev in his famous essay entitled The Role of the Individual in History, that individuals with certain qualities of character could change the course of events for good or for ill. As quoted above, Plekhanov, however, put the action of the individual as an expression of an “inevitable course.” Gorbachev must be squarely situated in the context of the of USSR in which he emerged as a leader in 1985. To be sure, Gorbachev never set out to destroy USSR. He actually wore the garb of reformer. One point must be strenuously stressed. Between 1985 and 1991, Gorbachev manifestly lacked the luxury of hindsight which is now amply available to his assessors right, left and

centre. In those tumultuous years of the USSR, Gorbachev had no option than to confront the enormous contradictions of the historical moment he found himself, what with the groundswell of political pluralism and economic liberalism. The well - educated products of public educational institutions in the USSR demanded freedom of speech as they craved for consumer goods readily available in the western supermarkets. Meanwhile, the economic cost of the mad arms race with United States of America was becoming unbearable for the USSR. That huge country of 15 republics with five time zones that Gorbachev led was in dire need of reforms. The communist party under his leadership responded with glasnost (openness) and perestroika (socio-economic and political restructuring). Notable Nigerian Marxist Edwin Madunagu was on tour of the USSR in the late 1980s. He captured the mood in that country in a series of articles published in The Guardian. More than anyone else in the Nigerian media, he focussed on the history that was unfolding in the USSR especially in the late 1980s. Madunagu’s testimony was that Gorbachev, as a communist leader, was on course to democratise USSR. In fact, Madunagu posited in one article that Gorbachev’s option for democratic reforms was in the true Leninist tradition. It is undialectical to frame Gorbachev’s role in history in the Aristotelian logic of either a hero or a villain. Such a contrast might not capture the essential Gorbachev. For Gorbachev was a historical figure whose role affected the 20th Century the in a way that no diligent historian of the future could ignore. In the process, like all mortals, Gorbachev committed his own errors. In discussing actions of comrades, Madunagu often says that “the greatest error is the error of doing nothing.” No judicious assessor of Gorbachev could accuse him of committing that error. Gorbachev’s errors are, of course, legion. For instance, he underrated the power of the upsurge of nationalism in the Soviet Union. He proved incapable of handling the groundswell of nationalism from the various republics cobbled together after the Great October Revolution. Outside power, he himself expressed support for Putin’s nationalism while criticising the anti-democratic steps. Gorbachev supported the annexation of Crimea. As a result, he was once barred from entering Ukraine. Ironically, Gorbachev had a maternal Ukrainian heritage. He shared this Ukrainian heritage with other USSR leaders such as Nikita Khrushchev, Leonid Brezhnev and Konstantin Chernenko. And Gorbachev died at period when Russia is waging a war with global implications against Ukraine. Gorbachev was also politically naïve dealing with the West. As a he received one award after the another from western institutions, the reforms

Gorbachev should be squarely situated within the context of the USSR in which he emerged as a leader in 1985.

floundered at home as the emergent contradictions became unmanageable. He could not see the double standards and hypocrisy of the West in their conception of human freedom. American President Ronald Reagan proclaimed in 1987 that “Mr. Gorbachev, tear down this wall,’’ in reference to the Berlin Wall, which eventually fell two years later. The West insisted on the removal of the “Iron Curtain” between the east and west of Europe. But Reagan continued having “constructive engagement” with apartheid South Africa. British Prime Minister Margaret Thatcher was still calling the African National Congress (ANC) , which is the governing party today in South Africa, a “terrorist organisation’ even in 1988. The cold war was essentially an ideological war. It was supposed to have ended with the collapse of the USSR. The Right erroneously prefers to call it the “collapse of communism” as if ideologies collapse and disappear just like that without any trace! The failure of the socialist experiment in the USSR which Gorbachev could not reform despite his good intensions could not mean the end of the socialist ideology as it has been proved 31 years after Gorbachev resigned as the first and the last President of the USSR. In the twilight of his life, Gorbachev regretted the “triumphalism” of the West. Gorbachev allowed the dissolution of the Warsaw Pact, a military alliance between the defunct USSR and the eastern European countries, which also experimented with socialism. The western opposite number of the Warsaw Pact, the North Atlantic Treaty Organisation, NATO, is still spreading eastward instead of dissolving. The cause of the present tragic Russia-Ukraine war is the western resolve to expand the NATO area of influence to the border of Russia. Besides, the struggle for reforms and genuine democracy in the USSR did not actually start with Gorbachev. Brezhnev began perestroika before him and Khrushchev attempted the de-Stalinisation of the party by making sharp criticisms of Stalinism. More significantly, the battle which Trotsky and other party leaders waged against Stalin after Lenin’s death was the harbinger of the reform of the union along the democratic path and towards human progress. The Chinese have mastered better the geo-political reality of the world in their own -self-propelling reforms. Under the leadership of Deng Xiaoping China embarked on its own reforms in 1979. Unlike Gorbachev, Xiaoping and his successors have refused to be influenced by the western judgement of the reforms. Warts and all, China has made a significant progress on the path of development. Problems have been thrown up, but they have been managed on China’s own terms.

The Historical Consequences of Comrade Gorbachev

The above sub-title of this piece is actually an attempt to paraphrase the great liberal economist, Maynard Keynes, who, in a vastly different context, wrote some commentaries on the economic policies of the former British Prime Minister Winston Churchill. Churchill at the time was Chancellor of Exchequer. Keynes entitled his work as The Economic Consequences of Mr. Churchill. According to Keynes, about his conclusion, “there is no difference of opinion” Doubtless, posterity will continue to examine the historical consequences of Comrade Gorbachev. There can hardly be a difference of opinion on that point.

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