Cardoso, World Bank, IMF Brainstorm to Craft New Strategies for Inclusive Growth in Africa
Cardoso,
development,
Cardoso participated in the high-level Bretton Woods at 80 Forum, where he represented
Africa’s interests on the global financial stage.
He said the strategies will equip the continent to meet the demands of the present and future.
The forum, organised by IMF and World Bank Group (WBG), brought together a select group of global leaders at the historic Bretton Woods, New Hampshire,
to mark the 80th anniversary of the original conference that established the post-war global
Tinubu Appoints Tegbe DG/Global Liaison for Nigeria-China Strategic Partnership...Page
on
64th Anniversary, Despite Bumpy Days, Nation Will Prevail, Says Akpabio
Declares Tinubu’s dedication inspirational Insists South-east not marginalised SGF urges Obasanjo to continue to speak in support of national unity, existence States Nigeria will be most prosperous under current administration Oborevwori urges citizens to persevere
Ajimotokan and Sunday
President of the Senate, Godswill Akpabio, yesterday, said despite the increasingly bumpy times, Nigeria will triumph definitely.
Akpabio urged the citizenry to be patient and hopeful, saying Nigeria's brightest days are ahead.
The senate president made the remarks on Sunday at an interdenominational church service held at the National Christian Centre, Abuja, to mark Nigeria’s 64th independence anniversary.
A statement by his media office said Akpabio also described
Continued on page 5
L-R: CEO, Prudential Africa, Mokobi Emmanuel Aryee; Founder and Chairman, Zenith Bank Plc, Jim Ovia, CFR; and Deputy CEO (Director), Prudential Africa, Nick Holder during a visit of Prudential Africa to Jim Ovia in Lagos following the acquisition of Prudential Zenith Life Insurance Ltd by Prudential Africa, recently.
L-R: The British High Commissioner to Nigeria, Richard Montgomery; the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, OON; the former Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, CFR; the Executive Vice-Chair of the Aig-Imoukhuede Foundation, Mrs. Ofovwe Aig-Imoukhuede; and the Chairman of the Aig-Imoukhuede Foundation, Mr. Aigboje Aig-Imoukhuede, CFR, at a special dinner hosted by the Foundation in honour of the former Head of Service in Abuja Continued
Deji Elumoye in Abuja
The federal government, yesterday, handed over 64 Compressed Natural Gas (CNG) buses to
James Emejo in Abuja and Nume Ekeghe in Lagos
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi
has engaged with the International Monetary Fund (IMF) and World Bank to develop actionable strategies to tackle issues of inclusive growth, sustainable
financial inclusion, and climate resilience in Africa.
Olawale
Aborisade in Abuja
Report: Nigeria's Population to Rise By 54% in 2050
Africa to account for 62% of global population growth in 26 years Sub-Saharan Africa has world's youngest population with 41% aged 15 or younger
Ndubuisi Francis in Abuja
Nigeria's population is projected to post a 54 per cent increase by 2050 while the current global population of over eight billion will reach nearly 9.6 billion during the same period.
This is according to the 2024 World Population Data Sheet released by the Population Reference Bureau (PRB), Population Reference Bureau (PRB), which provides global, regional, and country-specific data on population growth and decline, age structure, and fertility. Indicators. Nigeria's current
President Bola Tinubu’s dedication to the Nigerian project as inspiration.
He dismissed the alleged marginalisation of the South-east under the current administration.
Secretary to the Government of the Federation (SGF), Senator George Akume, implored former President Olusegun Obasanjo to continue to speak in support of the country's unity, territorial integrity, and democracy.
Akume also sought Obasanjo’s support for the current government, and said he believed Nigeria would be most the “blessed, most successful, most prosperous nation in Africa" under Tinubu.
Delta State Governor, Hon. Sheriff Oborevwori, urged Nigerians to remain optimistic and not be overwhelmed by the present economic challenges in the country. Oborevwori spoke at an interdenominational church service in Asaba, the Delta State capital.
The senate president told the congregation at the preindependence church service, "As we celebrate today, let us also acknowledge the challenges we face. Yes, the road ahead may be bumpy. Yes, there will be setbacks. But together, united in our faith and love for Nigeria, we will prevail.
"Our journey to become a prosperous nation is just beginning and I urge each of you to be patient, to hold on to hope and to believe that change is not only possible but inevitable.
"Nigeria's brightest days are ahead of us. Together, with unwavering belief, we will build a nation that our children and generations to come will be proud of."
Akpabio acknowledged the
representatives of organised labour, comprising Trade Union Congress (TUC), Nigeria Labour Congress (NLC), and National Association of Nigerian Students (NANS).
The gesture was in commemoration of the country's 64th independence anniversary.
The government also vowed to ensure that the downward trend of inflation in the country was aggressively sustained.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made the pledge at the State House Conference Centre in Abuja during the handover of the buses to representatives of the organisations.
Edun highlighted the CNG initiative’s impact on inflation, saying, "We've had an initial spike in inflation, now it has peaked, and it is coming down.
“Mr President and the whole team are determined to ensure that we keep inflation coming down, and this is one of the major ways.''
When deployed for commuter service, the buses will significantly reduce transportation costs in the country, bringing hope for a more affordable and efficient public transport system, he said.
Edun led the government delegation at the ceremony to mark the handover of the vehicles. Others in the delegation were Minister of Information and National
estimated population of 232 million people is equivalent to 2.85 per cent of the total world population.
According to the 2024 World Population Data Sheet, some of the country-specific projections for 2050 include: an increase in Nigeria’s population of 54 per cent; a rise in Tanzania’s population of almost 90 per cent; India’s population increase from today’s 1.4 billion to nearly 1.7 billion; and a drop in the current population of the Republic of Korea of just under 52 million to just over 47 million.
The report’s findings on age
indomitable spirit of Nigerians, and their ability to withstand and overcome challenges since the earliest struggles for independence.
He said, "Undoubtedly, the Nigerian nation is defined by resilience. From our earliest struggles for independence to the challenges of modern governance, we have continually shown our indomitable spirit. When faced with adversity, we rise. When confronted by challenges, we unite.
“Today, I thank God for the Nigerian spirit that has led us through turbulent times, across our Red Seas and Jordan Rivers, over our hills and mountains and through every valley we have encountered."
He particularly commended Tinubu’s leadership qualities as he steered the ship of the country towards the path of prosperity.
Akpabio said Tinubu’s leadership gave the country hope that "Nigeria can and will be better". He said Tinubu’s "courage and dedication to Nigeria's advancement is, indeed, inspirational".
The senate president recalled some pro-development laws passed by the 10th National Assembly, which were aimed at bringing renewed hope to the citizenry and fostering growth in key sectors.
He stated, "As we commemorate Nigeria's independence today, let us celebrate the achievements that have brought us this far. Every milestone we have crossed is a testament to our collective will, strength and determination as Nigerians.
"Our nation is in the process of a Renewed Hope Project that is tailored to rejuvenate our economy,
Orientation, Mohammed Idris; Minister of Budget and Economic Planning, Abubakar Bagudu; and Minister of State for Youth Development, Ayodele Olawande.
Edun described the distribution of the buses as fulfilling President Bola Tinubu's promise to provide affordable and efficient transportation to support Nigerians after the removal of fuel subsidies under the Presidential Initiative on Compressed Natural Gas (PCNGi).
He emphasised that the initiative aimed to alleviate the burden on the poor and vulnerable and support macroeconomic reforms that would position the country on the path to economic stability.
The minister explained that the symbolic handover of 64 buses on the eve of Nigeria’s National Day marked the beginning of a broader national rollout, with a plan to distribute over 500 CNG buses and 100 electric vehicles in the first phase.
He added that the CNG initiative aligned with Nigeria's commitment to cleaner energy while leveraging its energy resources for industrialisation.
Edun stated, 'Today marks another critical milestone in the policies of President Tinubu. It is a transition to cleaner fuel. It is for Nigerians. The emphasis is on mass transit.
“There is an emphasis on intervening on the side of workers
structure highlight that 10 per cent of the world’s population is aged 65 and older, while 25 per cent is under age 15.
The world’s youngest region is sub-Saharan Africa where 41 per cent of the population is aged 15 or younger.
"The oldest populations are found in Monaco (Italy), where the share of the population aged 65 and older is 36 per cent; Japan, with 29 per cent of its population is aged 65 and older; and Southern Europe – the oldest region in the world, with 22
empower our people and lift up the most vulnerable among us."
Akpabio, who stood in for the First Lady, Senator Oluremi Tinubu, said the recent passage of the South East Development Commission Bill was to address the injustices in the South-east.
He said, "It will give them hope, prosperity and bring about inclusivity because most of the times, certain policies of the past tended to give impression they were marginalised. But under this government, they are no longer marginalised.”
He stated that Nigeria had continued to survive the strains of nationhood, including the civil war, adding that many countries that became independent the same year as Nigeria in 1960 are no longer together.
The senate president said, "This is an opportunity to look forward to a future filled with hope and greater promises. Nigeria is defined by resilience. From independence to the challenges of modern day governance, we have continued to show our true spirit as Nigerians. We should remember the achievements brought so far by our past leaders."
Akume urged Obasanjo, who was one of the dignitaries at the church service, to continue to support the country's unity and democracy.
The SGF, in his vote of thanks, charged the elder statesman never to be tired of supporting the Tinubu administration.
Akume said, "I want you to continue to speak in favour of our unity, support of our territorial integrity and our democracy. I want
so that they have cheaper transport to cope with rising prices."
The minister stated that the fuel cost for CNG-powered vehicles was about one-third of the fuel for petrol-powered vehicles.
He said motorists could now pay as low as N15,000 to fill a tank instead of N50,000 or more.
According to him, ''Today, it is CNG. Tomorrow, it will be helping farmers to cope with the remainder of the wet season planting and then the dry season planting, starting from November, with fertiliser, inputs, seeds, and herbicides. This is all to get prices down and get the economy moving again.''
Earlier, the information and national orientation minister said 40 buses would go to the labour unions, 20 to the student unions, and four will transport passengers within Abuja.
He said, “This is a necessary first step that the government has taken, and we are giving out 64 buses to commemorate the 64th independence anniversary of our great country.
“Forty of these buses are going to the labour unions. You heard the representatives of labour here accepting them. 20 of the buses are going to the students’ union, and about four will now be here in the Federal Capital Territory.
“Now let me emphasise that this is not all. Over 700 of these
per cent of its population is aged 65 and older.
The report disclosed that about 50 per cent of the world’s population lacks access to good primary health care.
It stated that increasing investments in primary health care can improve health outcomes and help countries achieve the SDGs.
The report called for investments to improve access to people-centered, continuous, comprehensive, and coordinated primary healthcare (PHC) across low-income countries
to believe that as a democrat, you want this country to continue as a democratic nation, to continue as Nigeria; one country, one people, in spite of our diversity.
"You continue to speak loudly in favour of our existence. I want to believe, Sir, you will never be tired of supporting this government, which is also your government.
"We don't believe we are angels; we don't pretend to be angels, but when we go wrong, we will take your gentle advice. The president is someone you know very well.
“We all came on board when the country returned to presidential democracy in 1999, when President Tinubu was the governor of Lagos State and I was Governor of Benue State."
The SGF also applauded the armed forces, the police, and the para-military organisations for being on top of the security situation in the country and obliterating the bandits in the North-west.
He recalled that his family lost four soldiers during the civil war of 1967-70, saying they died "for signing to protect Nigeria's integrity”.
Akume reiterated the efforts of the administration to provide relief to ameliorate the challenges confronting the citizenry.
He listed the N2.5 billion loans disbursed to university students and the move to provide more Compressed Natural Gas (CNG) vehicles to reduce dependence on vehicles that consume petro.
He disclosed that one of the companies involved in the conversion of vehicles to CNG informed him that he drove one of the converted vehicles from Abuja
buses have already been ordered. These are the first sets we are giving out to symbolise the official commencement of this initiative of Mr. President.
“So don’t say that you only have 64 buses to cater to the whole of this country. It’s a necessary first step by government.”
Idris stated that since CNG cost less than Premium Motor Spirit (PMS), Nigerians should expect to save 60 per cent on transportation costs when the initiative becomes fully operational.
He explained, “You will spend far less to fuel it. Filling the two tanks you have seen here will cost you about N15,000, as against N72,000 for petrol. It’s a drastic reduction. The private sector is already contributing.
“This is beginning from those who need it the most; the working class will get this. But beyond that, everybody will feel the impact.
“It’s a promise that Mr president has kept to Nigerians, and we know that very soon, more of these buses will ply all the roads of this country.”
Allaying people's fears about possible hazard of having the gas cylinders positioned in the vehicle, Idris said, “Yes, we considered this. There is no risk of explosion. The cylinders themselves, as you have heard, are bulletproof. There are
(LICs) and middle-income countries (MICs) by increasing the availability and retention of staff, which, it argues, could prevent up to 60 million deaths by 2030 and increase average life expectancy by 3.7 years.
At the same time, it acknowledged that many countries lack sufficient resources, and shortages in trained health professionals contribute to overworked personnel and worse quality of care.
According to the report, globally, 63 per cent of married women aged 15-49 use some method of family
to Lokoja, and back to Abuja, with merely N5,000 worth of CNG.
According to Akume, "It is a remarkable achievement. So, if it's now, we will be there. This mandate is for four years, we have only done one year and four months.
"I have a dream that this country under Asiwaju is going to be the most blessed, most successful, most prosperous nation in Africa."
Oborevwori Urges Citizens to Persevere
Delta State Governor, Hon. Sheriff Oborevwori, urged Nigerians to remain optimistic, saying they should not allow the current economic challenges to overwhelm them.
Oborevwori made the call at an inter-denominational thanksgiving service held yesterday at Cathedral Church of St. Peters, Asaba, to mark Nigeria's 64th independence anniversary.
The governor, who paid glowing tributes to the country founding fathers, urged Nigerians to remain hopeful and united, adding that a new phase of prosperity, peace, unity and progress would soon envelop the country.
He stated, "It goes without saying that there is hunger and despair in the land because of the high cost of living caused by inflation.
planning.
"There are not enough words to describe the pain and suffering many people are going through because of the ongoing fiscal and economic reforms.
"However, I want to say that these, too, shall come to pass. Every problem has an expiry date and this will not be an exception.
"So, I urge Deltans and residents in the state to refuse to give up. Tough times never last but tough people do.
"The situation we are in calls for creativity, innovation, determination, patience, and resilience on the part of everybody – the leaders and the governed. These are the qualities we need to stay afloat in a turbulent economy, and overcome the challenges facing us.”
Oborevwori added, "We should never stop praying for Nigeria, no matter the situation, because God's will is for us to pray and we must also match our prayers with the right confession. We can pray right but if we speak wrongly, we nullify our prayers.
"We should, therefore, stop speaking negatively about our country. We should use our mouths to pray for the peace, unity and development of our country.
“Decision determines destiny. Once we make up our minds to speak positively about our country, we will be surprised by the results."
CARDOSO, WORLD BANK, IMF BRAINSTORM TO CRAFT NEW STRATEGIES FOR INCLUSION GROWTH, SUSTAINABLE DEVELOPMENT IN AFRICA
financial system.
Cardoso’s participation highlighted Nigeria and the continent's growing influence in international economic dialogue, according to a statement from the central bank.
The event addressed issues around investment, inclusive growth, climate resilience, and the evolving role of multilateral financial institutions in a rapidly changing world.
The platform also offered a critical opportunity for reshaping the international financial architecture to meet the needs of emerging markets and developing economies.
The exclusive gathering included former executives of major global institutions and key figures shaping the future of markets, climate action, and social development, who came together to tackle the most pressing challenges in the global economy.
Cardoso’s selection reflected his leadership in central banking, as well as his experience as former head of Citibank Nigeria and Commissioner for Economic Planning and Budget in Lagos State, the statement said.
It added that the CBN governor's expertise and background in policymaking were invaluable in advocating solutions that addressed the unique financial challenges faced by African countries in advancing financial inclusion, driving economic reforms, and building resilient financial systems.
As the Bretton Woods institutions face calls for reform in the face of global challenges, Cardoso’s role in the landmark forum ensured that African perspectives were strongly represented.
"The governor’s involvement was particularly crucial as developing economies, especially in Africa, seek greater participation and representation in the governance and decision-making processes of global financial institutions," the central bank added.
The Bretton Woods at 80 Forum concluded with key recommendations for the future role of the IMF and World Bank in addressing global challenges.
"Cardoso’s contributions were central to ensuring that these institutions remain responsive to the diverse needs of regions around the world, as they work towards more inclusive and sustainable global financial systems that address the economic priorities of both emerging and advanced economies," the statement said.
The apex bank boss specifically made a compelling case for Africa’s role in reshaping global financial structures.
The event commemorated the historic Bretton Woods conference, which laid the foundation for the post-war global financial system, reflecting on past successes and recalibrating the global financial architecture to meet the pressing challenges of today’s interconnected world.
Tinubu
In some regions, the share is relatively high (78% in South America), while in other regions, it is considerably lower (50% in Northern Africa and 45% in Eastern Africa).
INTER-DENOMINATIONAL SERVICE TO MARK NIGERIA'S 64TH INDEPENDENCE ANNIVERSARY...
L-R: Former President, Olusegun Obasanjo; President of the Senate, Godswill Akpabio; Secretary to the Government of the Federation( SGF) Senator George Akume and wife Regina; Deputy Speaker, House of Representatives, Benjamin Kalu and Senate Leader, Opeyemi Bamidele, during the Inter- denominational Service to mark Nigeria's 64th Independence Anniversary , at the National Christian Center, Abuja ... yesterday
The Executive Secretary/CEO of the National Sugar Development Council (NSDC), Mr. Kamar
Bakrin, has said the Backward Integration Plan (BIP) under the first phase of the National Sugar Masterplan (NSMP) attracted $1 billion worth of investments.
He said major investors also created over 15,000 permanent and seasonal jobs, and established cane processing factories with a total capacity of 18,000TCD in five
active project sites among others. Bakrin disclosed this at a retreat organised for the House of Representatives Committee on Industry in Calabar, Cross River,
Abiodun: Nigeria Will Save N5.4tn from Fuel Subsidy Removal in 2024
James Sowole in Abeokuta
The Ogun State Governor, Dapo Abiodun has disclosed that the subsidy on petrol if it was not ‘removed’ by President Bola Tinubu, would have cost the country a whopping N5.4 trillion by the end of 2024.
Abiodun noted that it would have been disastrous for Nigeria to pay such a huge amount on subsidy on fuel against the federal government's budget of N6.7 trillion for the same fiscal year.
The governor stated this during the special church service commemorating the 64th National Day celebration held at the Cathedral Church of St. Peter, Ake, Abeokuta.
He said the money is now available for the development of infrastructure across the country He said: "The federal government
under the amiable leadership of our President, Bola Tinubu, wasted no time in embarking on some very bold and audacious initiatives aimed at repositioning our economy and saving us from bankruptcy. We must persevere.
"Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.
"We have been busy subsidising our neighbours; these are funds that can be invested in improving our infrastructure and other social services.
"Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked."
Abiodun, while calling on Nigerians to engage the government constructively and not join those fanning the flames of discord, said that protests would not achieve
MTN to Showcase Nigeria’s
In order to tell the Nigerian story in a positive light to the rest of the world, MTN Nigeria has created a platform where Nigerians can upload two minutes video of fascinating and interesting sites about Nigeria’s rich cultural heritage.
The idea, according to MTN, is to showcase Nigeria to the rest of the world through the telling of the Nigerian story that will attract tourists to Nigeria in a manner that will boost the Nigerian economy.
MTN is therefore promoting a campaign titled: ‘See Naija’, that will offer Nigerians the opportunity to upload short video about Nigeria’s culture and heritage, where winners will be selected and awarded. The campaign runs for eight weeks,”
it said.
The company disclosed this at the weekend in Lagos, during the launch of the campaign, which attracted social media influencers, content creators and the media.
MTN used the launch of the campaign to commemorate the 2024 World Tourism Day, which was celebrated at the weekend, on September 27.
Giving details of the campaign and platform, the General Manager, Brands and Communications at MTN Nigeria, Emamoke Ogoro, said the campaign would help to erase the negative things that world has branded Nigeria with, and begin to tell the true story of Nigeria and the people of Nigeria in a positive light.
According to her, Nigerians
anything other than looting and vandalism of public properties.
"Let us be resilient, let us continue to pray, let us persevere, and let us hold on to our faith in Almighty God.
"Let us not join those who continue to fan the flames of discord in our land, and those who are calling for protests, violence, and civil disobedience, which only leads to vandalism, looting, and destruction of public property.
"Let us engage constructively and work with the government, knowing that this administration is an inclusive one," he added.
The governor also disclosed that his administration would continue to implement measures to cushion the effects of the present realities.
He addee that his administration has deployed CNG buses, started energy transition programmes with the launching of e-bikes, reduced
can make good money from the platform. “By the time you create an ecosystem, it will enable the entire tourism environment. So when you start this off, it's not about MTN Nigeria, but about the Nigerian people that will organise the ecosystem.
“ Through the platform, people are connected and people will get to know about Nigeria’s rich cultural heritage and tourists’ centres in Nigeria. The initiative is consistent with who we are at MTN. The platform will serve as an ecosystem for tourism, and it is a platform for the entire country Nigeria to showcase the Nigerian rich cultural heritage,” Ogoro said.
Fielding questions from journalists, Digital Manager, MTN Nigeria, Ololade Otusanya, said the
workdays for civil servants from five to three days, and provided free medical services for the poor and the elderly, among other initiatives.
He noted that his administration would soon be completing its farmers' markets across the four zones of the state, adding that the state government's Gateway Trading Company, where food items would be sold at wholesale prices, would soon begin operation.
"We will soon complete our farmers' markets across the four zones of the state, where food items will be sold at affordable prices.
"Very soon, you will see our Gateway Trading Company that will start selling different items in different zones across the four zones of the state at wholesale prices. We will continue these types of initiatives to cushion the effects of the current realities," he said.
initiative was not about making money for MTN, but to give Nigerians a platform to tell the Nigerian story in a positive light.
“MTN Nigeria has created a platform for Nigerians to upload their two minutes video about Nigeria and MTN is also running eight weeks campaign to select the best videos that will speak to the Nigerian rich cultural heritage.
“It's a campaign, because it's a clarion call for us to start this thing now and it's also a platform because you need to use a generated content to record what you think is beautiful about your state, which will be posted on the platform. Now, six months down the line, there will be enough curated contents that will tell the Nigerian story better,” Ogoro said.
over the weekend. He however, told the committee that actualisation of the comprehensive plan for accelerated sugar project development in 2025 and the NSMP II, could be hampered except certain loopholes in the council's establishment Act were amended.
He said the NSMP II has a protected domestic market made attractive by a robust incentive framework including a protective tariff regime that is consistent with the various protocols to which Nigeria is a signatory.
This, he said was meant to protect the market for investors who are implementing the BIP, use of an annual Raw Sugar Import Quota Allocation to determine how much sugar can be imported by the participants in the backward integration scheme and support of an extensive out-growers scheme as well as promote inclusiveness and sustainability and stimulate partnership with host communities of the sugar estates and projects.
Others include support for greenfield projects which neither participate in the BIP nor benefit from the NSMP’s fiscal incentives, a mandatory Backward Integration Programme for the Sugar Refineries who bought the publicly-owned sugar estates
and supply refined sugar to the Nigerian market and also a twotier Monitoring and Evaluation Framework, consisting of the Sugar Roadmap Implementation Committee (SURMIC), a multiagency committee charged with the supervision of the NSMP, and the Sugar Industry Monitoring Group (SIMOG) composed of CEOs of all local Sugar Manufacturing companies, a peer review platform that promotes the credibility of outcomes. Looking ahead, Bakrin said, “These are exciting times for investors and stakeholders in Nigeria’s Sugar Industry. We have an unmet and growing local demand of two million metric tons and a deficit in Africa that is expected to expand to 13mMT by 2030.
“There are also tremendous unrealised opportunities in an ever-growing list of sugarcane derivatives such as biofuels, polymers, bioplastics, sustainable aviation fuels, power production, etc."
The lawmakers, however, agreed in principle to take a serious look at the law establishing the council and make necessary amendments that will empower its current leadership to successfully pursue the advancement of the NSMP II.
Shettima Returns to Abuja After Attending UNGA in New York
To join President in celebrating 64th independence anniversary
Deji Elumoye in Abuja
Vice President Kashim Shettima on Sunday returned to Abuja after successfully representing President Bola Tinubu at the just concluded 79th Session of the United Nations General Assembly in New York, the United States.
The Vice President, according to a release issued by his Media Assistant, Stanley Nkwocha,
had presented Nigeria's National Statement at the General Debate, as well as engaged in several bilateral meetings and numerous sideline events at the General Assembly. He will proceed to join President Tinubu to mark some events put together as part of activities commemorating Nigeria's 64th Independence anniversary.
Emma Okonji
HANDOVER CEREMONY OF 64 COMPRESSED NATURAL GAS BUSES...
L-R: Minister of Information and National Orientation, Mohammed Idris; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Secretary General and Chief Executive of the Trade Union Congress, Comrade Nuhu Toro; Minister of Budget and Economic Planning, Abubakar Bagudu; President of the National Association of Nigerian Students (NANS), Comrade Lucky Emonefe, and others at the handover ceremony of 64 Compressed Natural Gas (CNG) buses to representatives of labour unions and NANS by the Federal Government on Sunday,
Saudi Arabia Launches Global Initiative for Palestinian State, Reaffirms Support for Two-State Solution
The Kingdom of Saudi Arabia has unveiled a new initiative aimed at establishing an independent Palestinian State and advancing the implementation of a two-state solution. This announcement comes after decades of failed international efforts to resolve the IsraelPalestine conflict, which has brought the region to the verge of full-scale war.
Saudi Foreign Minister, Prince Faisal bin Farhan, introduced the Global Alliance for the Implementation of the Two-State Solution during a speech at a high-level meeting attended by the Arab League, the Organisation of Islamic Cooperation (OIC), and Norway.
Prince Faisal revealed that the initiative is a joint effort between Arab and European nations, stating
that the first meeting of the alliance will take place in Riyadh.
Giving credence to the plan, the European Union’s foreign affairs chief, Josep Borrell, confirmed that follow-up meetings will be held in both Riyadh and Brussels.
Prince Faisal said: “We are committed to working towards a reliable and irreversible plan for achieving just and comprehensive peace,” while calling for collective action to reach tangible results, with a focus on securing an immediate ceasefire and progressing toward a two-state solution, and the establishment of an independent Palestinian state.
A press statement by the Embassy of Kingdom of Saudi Arabia in Nigeria at the weekend, said the backdrop of this initiative is the ongoing conflict between Israel and Hamas, which intensified following the deadly October 7 Hamas attack that
Empowering Dreams: 27 Riverine Children Access Scholarships from Olu of Warri’s Foundation
In an effort to advance access to education opportunities for children in underserved communities within the Warri Kingdom, Ogiame Atuwatse III, Olu of Warri, and Olori Atuwatse III’s Royal Iwere Foundation (RIF), have partnered with Valley Stream British Academy (VAB), Sapele to provide 27 children of primary and secondary school enrollment age with 3-6-year scholarships.
This partnership exemplifies a strong commitment from RIF and VAB to cultivate future leaders who will contribute to the socio-economic advancement of the Warri Kingdom and impact the global landscape.
Speaking on the importance of the RIF Scholarship Fund, Olori Atuwatse III stated: “The agency to transform our country and continent is education. We understand how critical it is for our children to access quality developmental education.
"This is why we invest robustly in education at the Royal Iwere Foundation to ensure the potentials of marginalised communities, especially the riverine, are not sidelined. I also applaud the management and staff of the Valley Stream British Academy, Sapele, for supporting this vision to nurture great minds regardless of their backgrounds.
"I also use this opportunity to encourage more education institutions across primary, secondary, and tertiary levels to partner with us,
as over 20 million children are out of school according to the UNESCO Global Education Report and we have many more lives to impact.
"RIF is resolute in its mission to empower and nurture great minds in the Warri Kingdom because these children are the leaders of tomorrow, and tomorrow is almost here. Let's equip them for it.”
The RIF Scholarship Fund is an initiative under the Education Project pillar of the Royal Iwere Foundation, the humanitarian arm of the Warri Kingdom Monarchy.
The pillar has been described as a catalyst for positive change, and has created educational pathways through pipeline projects such as the Teachers Training Programme, Teach For RIF, Love Gardens, STEM Hub Boot Camp, Story Time with Mama Iwere, and Raising Royalty Academy for riverine children and youths in underprivileged communities of the Warri Kingdom to achieve their academic goals and contribute to the socio-economic advancement of Warri Kingdom, Delta State and Nigeria at large.
The RIF Scholarship Fund works closely with community leaders, parents, and partner schools to provide comprehensive support across primary, secondary, and tertiary levels of education.
Since its inception, it has impacted 43 beneficiaries: 22 at the primary level, 18 at the secondary level, and 3 at the university level.
claimed the lives of nearly 1,200 people and resulted in hundreds of hostages being taken to Gaza. In response, Israel has launched extensive airstrikes, significantly damaging the Gaza Strip.
Prince Faisal condemned the escalating violence, noting that the war has triggered a humanitarian crisis in Gaza and criticizing what he called Israeli “crimes” in the West Bank and at key Muslim
and Christian holy sites, including the Al-Aqsa Mosque.
Prince Faisal stressed that while self-defense is a legitimate right, it cannot be used to justify mass civilian casualties, forced displacement, starvation, or acts of dehumanization, including systematic torture and sexual violence, which he claimed have been documented as part of Israeli military actions.
Saudi Arabia has consistently maintained that the establishment of diplomatic relations with Israel is contingent upon the creation of a Palestinian state based on the 1967 borders, with East Jerusalem as its capital.
Crown Prince Mohammed bin Salman reiterated this stance last week, strongly condemning Israeli actions in the occupied Palestinian territories and affirming the
Kingdom’s unwavering support for Palestinian statehood.
“The Kingdom will not stop its tireless work towards the establishment of an independent Palestinian state with East Jerusalem as its capital, and we affirm that the Kingdom will not establish diplomatic relations with Israel without that,” the Crown Prince said in a recent address to the advisory Shura Council.
Adelabu: Over 40% of Nigerians Currently Enjoy 20-hour Power Supply Daily
Emmanuel Addeh in Abuja
The Minister of Power, Chief Adebayo Adelabu, yesterday said that the number of Nigerians that currently have access to over 20 per cent of electricity had hit 40 per cent, implying that over 80 million Nigerians now enjoy top level power supply.
He credited the ‘achievement’ to ‘certain revolutionary measures’ which he said were taken to ensure that Nigerians enjoy more stable and regular electricity supply, noting it was with the support of President Bola Tinubu.
A statement in Abuja by the minister’s spokesman, Bolaji Tunji, said that the minister spoke while reviewing the activities of the ministry in the last one year on the eve of the October 1 independence celebration.
“The minister also revealed that more than 40 per cent of Nigeria’s electrified consumers is currently
enjoying over 20 hours of regular and stable electricity across the nation. He said this was due to the radical and bold steps that were taken,” Adelabu was quoted as saying.
According to him, the president had consistently advocated that Nigeria can be great and achieve breakthrough in industrialisation, through a stable and consistent power supply.
He said one of the major and significant achievements of his ministry within the last one year is that Nigeria now generates over 5,500 megawatts of power, explaining that the ministry was working to improve on this ‘record’ by the end of the year.
Adelabu noted that stable electricity in any economy was important to the development of any nation, stressing that the first thing any nation should get right is to achieve reliable, functional, and affordable electricity, especially for their industries, businesses, institutions,
and households.
“This is why you see great economies like Korea, China, Europe, and North America industrialised today. Their stability in electricity supply has been instrumental to their economic growth and industrial development.
“That's why we say that we must achieve this for Nigeria as a country. We need to achieve the requisite economic growth and industrial development. Our dear president included this as a major electoral policy to Nigerians.
“ In his New Year speech on January 1, 2024, he emphasised the need for the country to have stable, functional, and reliable electricity to drive other critical sectors. This is the only way we can achieve the required economic growth and industrial development. In fact, none of the critical sectors can function optimally without electricity stability
and functionality.
“Therefore, our vision is to ensure that we provide households, businesses, and institutions , including educational and health institutions as well as industries with stable electricity supply. This will enable them to power their activities, improve their capacity, and create more jobs.
“In a country like South Korea, industrial giants like Samsung, Hyundai, and LG didn't just become global giants overnight. They were supported by the government through the provision of stable and reliable electricity for their operations.
“This is the vision we have for Nigeria. At the end of the day, a large proportion of our population will be electrified, industries will enjoy stable electricity, and this will increase production and create employment for our people”, the minister said.
Nigeria Joins Global Circular Economy Movement with CIRCO, EDC Unveils Collaboration
Mary Nnah
In a major boost to Nigeria's sustainability efforts, CIRCO, a renowned initiative of the Kingdom of the Netherlands, has launched in Nigeria in partnership with the Enterprise Development Centre (EDC) of Pan-Atlantic University.
This powerful collaboration aims to strengthen circular business practices in Nigeria, empowering entrepreneurs and creative professionals to prioritize sustainability.
In a press release made available to THISDAY, Consul General of the Kingdom of the Netherlands, Michel Deelen, emphasised that CIRCO Hub Nigeria will be a catalyst for change, driving the circular economy by redesigning products, services, and
business models with sustainability at their core.
With CIRCO's globally recognized training module, businesses will gain the tools and expertise needed to transition to circular business models, reducing waste and increasing competitiveness.
As Nigeria finalises its roadmap to transition into a circular economy, CIRCO Hub Nigeria marks a significant milestone in advancing circular economy practices on the continent. This pioneering initiative is the result of a strategic partnership between the Circular Business Platform (CBP) and the Enterprise Development Centre (EDC), both leaders in promoting sustainability and entrepreneurship. Nigeria must stay ahead of the
curve as global business landscapes increasingly prioritize circularity and sustainability, according to Executive Secretary of the Circular Business Platform, Natalie Beiniscn.
CIRCO Hub Nigeria will provide businesses with the expertise and knowledge needed to transition to circular business models, helping companies design out waste, extend product life cycles, and regenerate natural systems.
Dr. Nneka Okekearu, Director of EDC, highlighted the organization's 20-year experience in entrepreneurship development and its excitement to partner CBP, a forefront promoter of circular economy business models.
The launch of CIRCO Hub Nigeria marks the beginning of a new chapter in Nigeria's entrepreneurial
landscape, one where circularity and sustainability are prioritized. This initiative is part of Nigeria's larger efforts to transition to a circular economy, with the government finalizing its roadmap and launching initiatives like the Nigeria Circular Economy Program (NCEP) Roadmap Framework. The European Union and UNIDO have also launched a €9 million project to advance hydropower and circular economy practices in Nigeria. With CIRCO Hub Nigeria, Nigerian businesses will compete on a global stage by adopting circular economy practices, driving economic growth and sustainability.
As Nigeria joins the global circular economy movement a more sustainable future beckons.
Michael Olugbode in Abuja
ANNUAL BANKING AND FINANCE CONFERENCE...
L- R: General Manager/Group Head Business Development BUA Group,Tajudeen Ahmed; MD/CEO Parallex Bank,Olufemi Bakre; President/Chairman of Council Chartered Institute of Bankers of Nigeria (CIBN), Pius Deji Olanrewaju; Registrar/CEO,Akin Morakinyo, and Group Head Brand Management & Corporate Communications Polaris Bank/President Association of Corporate Affairs Managers of Banks (ACAMB), Rasheed
Tour Operators Tackle NAHCON Over N17.7bn Unrendered Hajj Service, Caution Fees
Olawale Ajimotokan in Abuja
The Association for Hajj and Umrah Operators in Nigeria (AHOUN) has asked the National Hajj Commission of Nigeria (NAHCON) to refund the N15 billion for services paid by pilgrims but not rendered as well as tent security deposits from 2022 Hajj to date by the commission. It also asked the commission to account for N2.7 billion it received and warehoused as caution deposit from its members for last year's Hajj operation.
Gov
The latest faceoff came after NAHCON's accused the tour operators of derailing preparations for the 2025 Hajj after its leadership directed its members to suspend preparations for next Hajj pending when their demands were addressed.
A statement issued at the weekend by the National President AHOUN, Abdullateef Ekundayo Yusuf, said NAHCON at its meeting with the operators, confirmed to have received 20 million Saudi Riyals of such refund from the
Radda, FIRS
Saudi authority since December last year, but had failed to notify them on the modalities of the refund payment "Even this 20,000,000.00.SR if not for the investigation EFCC conducted on the Commission, we wouldn’t have known that it had been paid since December, 2023, we only got to know through media reports, before they now confirmed to us at our last meeting. What stopped them from calling the Tour Operators since December 2023 to come forward to claim their money?
They kept quiet," Yusuf said. He added that NAHCON also received over N2.7 billion from his members last year noting the agreement with the commission was to release the funds two weeks after the conclusion of the Hajj. According to him, rather than refund any of the companies that applied for it, NAHCON instead was asking for more money as increase to the last year’s deposit. He lashed NAHCON of choosing to mislead the public about the Saudi 2025 Hajj calendar,
Governor Dikko Umaru Radda of Katsina State and the Executive Chairman, Federal Inland Revenue Service, Dr. Zacch Adedeji, have praised the resilient spirit of Nigerian micro, small, and medium enterprises (MSMEs) in driving the nation's economy despite rapidly evolving policy and regulatory environment.
They disclosed this at the Inaugural MSME Finance Awards convened by The Economic Forum Series ® in partnership with Nairametrics and DiGiComm Enterprise, held in Lagos recently.
Speaking at the event the Katsina Governor, Dikko Umaru Radda, who was represented by his Technical Assistant on Enterprise Development, Dr. Babangida Kabir Ruma, said as a government they recognised the significant role played by MSME. His words: “Today, we celebrate not only the outstanding achievements of our micro, small, and medium enterprises but also the resilience, innovation, and dedication that fuel Nigeria's economic engine.
“In Katsina State, we recognize the
Wale Igbintade
A Federal High Court in Lagos has dismissed a N10 million fundamental rights enforcement suit filed by a former bank manager, Fidelis Eugeke, against the Economic and Financial Crimes Commission (EFCC), his estranged wife, Blessing Eugeke and her brother.
Justice Ogundare made the order while delivering judgment in a suit marked FHC/L/CS/383/2022, filed by the former bank manager against
vital role MSMEs play in fostering economic growth, job creation, and social stability. Our government is committed to providing a supportive ecosystem through policies, infrastructure, and capacity-building initiatives that empower entrepreneurs to thrive.
“Programs like this award inspire us to continue expanding opportunities for businesses to grow, adapt, and compete in both national and global markets."
He praised the enterprise spirit of Nigerian MSMEs in driving the nation forward despite the huge challenges they faced.
“The challenges you face are significant, but your unwavering determination and creativity ensure that the future is bright for MSMEs in Nigeria,” the governor said.
Delivering his key note speech, Adedeji said the theme, ‘Unlocking MSME's Potential Impact on Tax Revenue Growth in a Changing Policy & Regulatory Environment,’ resonates deeply with the nation's collective vision for a prosperous future.
The Chairman, Joint Tax Board (JTB), noted that in a rapidly evolving
the respondents. The court held that the suit was frivolous, unmeritorious and abuse of court’s processes, and ordered the applicant to pay N750,000, 00 (Seven hundred and fifty thousand) to the EFCC, his estranged wife and the brother-in-law, as damages. Egueke who last worked as the Asaba, Delta State Branch Manager of Zenith Bank, had dragged the EFCC and other defendants before the court and prayed for:
“a declaration that the invitation of
policy and regulatory environment, the challenges MSMEs face are manifold.
Represented by his SA on Communication and Advocacy, Collins Omakaro, Adedeji highlighted the challenges to include, access to finance, regulatory compliance burdens, and the need for technological adaptation.
“Yet, amidst these challenges lies an incredible opportunity for MSMEs to not only grow but also significantly contribute to our national tax revenue,” he noted.
But however, the President, Commonwealth Association of Tax Administrators (CATA), stressed that the Nigerian government is acutely aware of the immense contributions that MSMEs make to economy.
According to him, “They are not only pivotal in job creation but also serve as engines of innovation and growth. Recognizing this, companies classified as small businesses under the Companies Income Tax Act are exempt from Companies Income Tax, and also exempt from the obligation to collect Value Added Tax (VAT). This policy framework is designed to lighten their financial burden and encourage compliance.
the applicant by the 1st respondent at the instance of the 2nd and 3rd respondents to report for an interview on 7th March, 2022 in respect of a matter already pending before Hon. Justice Ringim of the Federal High Court, Lagos with Charge number FHC/C/298C/2020: IGP V. Fidelis Egueke, as unlawful, illegal and unconstitutional.
“An order of perpetual injunction restraining the respondents, their agents, privies, men, officers, operatives, anybody whatsoever or
“Moreover, I am pleased to inform you that there is an ongoing proposal to increase the threshold for these exemptions, enabling even more MSMEs to benefit from these vital incentives. We anticipate that this proposal will soon be passed by the National Assembly.”
Earlier the convener of the Economic Forum Series, Jude Ndu, said the awards provides the platform to celebrate MSMEs in the country.
According to him, “They drive growth, job creation, innovation, but yet they face significant challenges, and one of them happens to be the access to finance. Not just finance, but including markets and resources.
“They face significant challenges in accessing finances, and with this award, we strongly believe that the opportunity to create a platform to grow the MSME ecosystem is just at the right time.”
Making case for a single digit interest rates for MSMEs in the country, the Senior Special Assistant to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, said the country must find ways to achieve it.
howsoever in their authority from attempting to arrest or to detain or further invite for interrogation or any act likely to infringe the guaranteed rights of the applicant in respect of a matter pending before Hon. Justice Ringim of the Federal High Court, Lagos.
“An order awarding jointly and/ or severally N10 million Naira only, against the respondents on the footing of exemplary damages for the unwarranted infringement of his fundamental rights.”
to portray AHUON as the body frustrating the preparation of the upcoming Hajj.
"Nigeria has a total of 95,000 slots allocation, out of which Tour Operators have only 20,000. Why has the Commission been so perturbed about the preparation of the 20,000 as against the 75,000 of the State Pilgrim Boards," he said. The other grouse with the commission was its refusal to include its pilgrims in the federal government approved and released the sum of N90 billion as subsidy to Nigerians pilgrims last year in addition to lack of assistance to its members, who cannot access their millions of Saudi Riyals balances in their Saudi bank accounts.
World Bank Begins Education Programme on Generative AI in Nigeria
Ndubuisi Francis in Abuja
In one of the pioneering efforts to leverage free Generative Artificial Intelligence (AI) tools to enhance educational outcomes in a context where it is most needed, the World Bank has commenced an experiment in Edo State, Nigeria.
Generative AI involves the creation of new content and ideas, including conversations, stories, images, videos, and music, as AI technologies attempt to mimic human intelligence in non-traditional computing tasks like image recognition, natural language processing (NLP), and translation.
In a blogpost titled, "From chalkboards to chatbots in Nigeria: 7 Lessons to Pioneer Generative AI for Education," the World Bank disclosed that under its Education for Global Development initiative, between June and July, 2024, 800 firstyear senior secondary students attended after-school English classes in computer laboratories twice a week.
Each session, it noted, began with a teacher introducing the week's topic, followed by students interacting with Microsoft Copilot, a generative AI tool powered by ChatGPT, to master the selected topics comprising both grammar and writing tasks.
Acting as “orchestra conductors” of the pilot, the teachers guided students in using the large language models (LLMs), starting each session with a suggested prompt, it revealed.
According to the blog, as the students interacted with the AI, the teachers mentored them, offering guidance and additional prompts. They also led brief reflection exercises at the end of each session.
The blog said: "Forty years on, with the rapid advent of generative artificial intelligence, many countries have an opportunity to reach the ideal of one-to-one tutoring. Today, large language models (LLMs) can interact with students personably and adapt to their learning needs.
"While recent studies highlight AI's potential to enhance learning outcomes, they often fall short in two key areas. First, they focus predominantly on developed countries. Second, they rely on specialized but unaffordable software.
"However, unlike traditional AI, which excels at pattern recognition and prediction, generative AI can create new human-like content, opening up broader possibilities for application in education.
"Building on this potential, a recent experiment in Edo State, Nigeria, represents one of the pioneering efforts to leverage free generative AI tools to enhance educational outcomes in a context where it’s most needed."
It revealed that the seven pioneer lessons learnt from the Edo State pilot offer valuable insights into the future of AI in education, particularly in resource-constrained environments like Nigeria.
The World Bank blog added: "As we consider scaling this approach, generative AI shows promise in democratizing personalised learning. However, success depends on active educator involvement, supportive infrastructure, continuous monitoring, and evaluation.
"The programme's low cost and tailored design make it easier to scale than subscription-based software, but measuring its impact is crucial first."
Bolarinwa, at the CIBN 17th Annual Banking and Finance Conference held in Abuja… recently
Email: deji.elumoye@thisdaylive.com
08033025611
Six Years After, Kwara Holds LG Poll Amid Controversy
Hammed Shittu writes about the recent local government poll conducted six years after the last one was held in Kwara state and the controversy that trailed the outcome of the exercise.
Local Government administration remains the closest government to people of the grassroots. It is the only system of government that really serves as a way for people of the rural communities to govern themselves so as to ensure the dividends of democracy get to their doorsteps.
However, the immediate past administration of former Governor Abdulfatah Ahmed of Kwara State conducted the local government councils polls in 2018 so as to return governance to the people of the grassroots in order to accelerate the socio-economic development of the local government councils.
But, the present administration upon assumption of office in 2019 dissolved the elected councillors and chairmen in all the 16 local government councils.
The dissolved elected representatives at the local government councils were later replaced with the Transitional Implementation Committee for the local government councils in the state.
These TIC members were in office for almost five or six years in the local government despite the criticisms that greeted the appointment of these TIC in the affected local government councils in the state.
The issue has led to one of the anti corruption groups in the state called Elites Network for Sustainable Development(ENTSUD) to file a court action against the government which they won in both the High Court and the Federal Court of Appeal.
Though the state government filed an Appeal at the Supreme Court but up till now the state government has failed to pursue it until recently when the Supreme Court granted financial autonomy to all the 744 local government councils across the country.
The main case against the state government then was its refusal to conduct elections into the 16 local government councils in the state.
The anti-corruption crusade argued that the non conduct of the councils polls in the state has hindered the development of the grassroots and also affected the socio- economic well being of the rural dwellers across the 16 LGAs in the state.
Following the Supreme Court ruling that granted full autonomy of the councils in the country, the state government took pragram-
atic move to set machineries in motion to conduct local government councils.
Despite several calls by stakeholders in the state for the state government to see reason why local government councils deserves their own system of government through the election of elected representatives at the councils level after almost six years, the present administration in Kwara state decided to appoint political functionaries to man the affairs at the local government councils in the state.
In a twinkle of an eye, the government announced the composition of the electoral body for the council poll headed by Mr. Mohammed BabaOkanla.
Okanla in his maiden press briefing for the conduct of local government councils poll in the state announced September 21, 2024 for the election.
Eventually, on Saturday, September 21, 2024, the local government poll was held in the state but with low turn out of voters.
It should, however, be noted that only five political parties participated in the election.
They are All Progressives Congress (APC) Peoples Democratic Party (PDP), All Peoples Movement (APM) Social Democratic Party (SDP) and Accord Party (AP).
During the poll, late arrival of election materials was witnessed in some
polling units in the state.
Apart from this, some areas did not have access to the election materials, a situation which sparked crisis in the state especially in Offa town where the stakeholders in the poll claimed not seeing election materials and demanded for fresh poll in the town.
However, Governor Abdulrahman Abdulrazaq and the state deputy governor, Kayode Alabi, cast their votes at their Idigba polling unit 004, Ilorin West Local Government Area, and ECWA Primary School, Oro-Ago polling unit 001, Ifelodun Local Government Area respectfully.
Speaking on the conduct of the poll, Governor AbdulRazaq commended the turn out of electorate for the local government poll saying that democracy has come to stay.
His words: “From what we can see here, the turn out is very okay. Democracy has come to stay”.
The governor, who spoke after casting his vote at Idigba polling unit 004 of Adewole Ward of the Ilorin West local government area at about 10:55 am, described conduct of the election as peaceful. He further commended the security agencies for their conduct and urged them to maintain the spirit.
Also speaking while monitoring conduct of the election in parts of the Ilorin metropolis, Chairman of the Kwara state Independent Electorate Commission (KWASIEC), Mohammed Baba-Okanla, ascribed reported delay in commencement of the election to breakdown in logistics.
According to him: “Some circumstances can
Kwarans have demonstrated that democracy is about the people and any government that refused to serve the purpose for which it was elected will be voted out. The people of Kwara State deserve to be praised for demonstrating how politically savvy, sophisticated, and discerning they are. A government that continuously takes the people for granted will get its deserved result at the polls.
cause delay. Some of the vehicles conveying election materials to polling units broke down and we’ve found ways to amend the situation. You can see in this area now, normalcy has returned.
“In some of the places we’ve visited, there was no problem it’s just that there was late arrival of material. But as soon as we got there, situations were improved upon”.
However, KWASIEC Chairman, BabaOkanla, around 3.00. a.m on Sunday, September 22, 2024, without the presence of the stakeholders in the election had declared results of the election, affirming victory for all the chairmanship and councilorship candidates of the ruling All Progressives Congress (APC).
Following declaration of the results by KWASIEC, it was mixed reactions as members of the ruling APC, particularly, friends and well wishers of the candidates who participated in the election, embarked on celebration, while protest rejecting the results was witnessed in Ilorin and Offa towns on Sunday by members of the opposition PDP.
Speaking with newsmen in Offa, the chairmanship candidate of the Peoples Democractic Party (PDP) in the Offa local government area, Hon. Salahudeen Lukman, accused the Kwara state Independent Electoral Commission of poor performance in the election, saying the election should be rescheduled in Offa. Lukman, who spoke on behalf of 12 wards councilorship candidates of the PDP, said that the election was characterized “by irregularities, with no votes cast, counted, or announced in Offa”.
The PDP candidates called on President Bola Tinubu to take immediate action and hold Governor Abdulrazaq responsible for alleged electoral misconduct in the poll.
“To maintain peace and ensure the credibiity of our democratic process, we demand the immediate rescheduling of the Offa Local Government election”, the aggrieved candidates said.
Also, some irate youths in Ilorin East and Ilorin South local government councils of the state kicked against the poll.
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Using Strike Action in Anambra as Tool to Engender Active Solution against Kidnappers
Professional bodies in Anambra State may have resolved that the best way to stir Soludo to solve the problem of insecurity plaguing the state is to embark on strike action, reports David-Chyddy Eleke
So far, the Nigerian Bar Association (NBA) and the Nigeria Medical Association (NMA) seem to have led the way by trying to use strike as a tool to force kidnappers to release their colleagues, and also coerce the state governor, Prof Chukwuma Soludo to wade into the problem of insecurity in the state.
In May this year, lawyers under the aegis of Nigerian Bar Association NBA had crippled the justice delivery sector by declaring strike action because of the kidnap of their member.
The Lawyers embarked on a one-day boycott of courts to press home their demand for release of their colleague abducted by gunmen, before they also declared an indefinite strike.
Their member, Mr. Chukwubuikem Azoro, who is the Secretary of NBA Idemili Branch, had been kidnapped by gunmen at Abagana, Njikoka Local Government Area around 8:30 pm on a Saturday.
Mr. Chukwubuikem Obianyo, the Idemili branch Publicity Secretary of NBA revealed that Azoro’s captors had demanded a ransom for his release, although he did not state the amount.
Reacting on the development, the lawyers said their decision to boycott courts was to enable them pursue the immediate release of Azoro.
Chairman of Committee of Chairmen and Secretaries of NBA branches in Anambra State, Mr. I.C. Nsofor said the state wide boycott was to support a similar action already taken by the Idemili branch of NBA.
A statement issued by the lawyers read in part: “In response to this distressing situation, the members of the Idemili branch have unanimously resolved to take a stand against such criminal acts. Therefore, all members of the NBA Idemili branch shall be boycotting appearances in all courts within and outside our jurisdiction. Additionally, members of Idemili branch pledge to abstain from representing individuals charged with kidnapping or armed robbery until further notice.”
At the same time that the lawyers were protesting, the Vice Chairman of NBA, Ihiala branch and Principal State Counsel, Awa P. Awa, was gruesomely murdered by suspected gunmen at Okija on May 19, 2024. The association said these were the most recent of attacks on lawyers, leading to their call for boycott. Though they later resumed duties, after Azoro was released.
As this has almost died down, medical doctors in Anambra State under the aegis of Nigeria Medical Association (NMA) two weeks ago declared strike action, following the kidnap of one of their colleagues.
The declaration was not an impromptu thing as the association had first issued a warning upon the kidnap of Dr Steven Ezeh, a private practitioner in Ihiala, who is the Managing Director and Chief medical director of Vera Clinic Ihiala. He was abducted at his residence in Umunnamehi Village, Ihiala, Ihiala Local Government Area on Aug 15.
NMA in an emergency general meeting last two Mondays, a day after the incident issued a 48 hour ultimatum for the release of Ezeh or they withdraw their services across the state afterwards
He said: “The kidnappers had requested 40 million ransom at first and subsequently N30million within 24 hours. A 48 hour ultimatum is hereby given to the Anambra State Government to secure the immediate release of Dr Ezeh. If at the expiration of the above
timeline, our member’s release is not secured, all the doctors in Anambra State under the aegis of NMA-Anambra will down tools until our member is released. An emergency meeting will be convened within the next 48 hours to review the progress made so far,” it said Acting true to their threats, the association met on Thursday and directed members to withdraw clinical services in all private and public hospital in the state with immediate effect.
Okam and Obieli in a fresh press statement said: “NMA Anambra hereby directs all doctors in the state to forthwith withdraw clinical services in all Federal, State, Private, Mission, Institutional and Corporate hospitals in the State until our member is released. That NMA Anambra will painstakingly monitor compliance with the above directive through her ‘Strike Monitoring Team’ and that defaulting hospitals and
members will be blacklisted/ penalised in line with Congress resolutions.
“That Anambra State government should activate all necessary security agencies and instruments at its disposal to ensure ‘timely and unconditional release of our abducted member. NMA Anambra State is not oblivious of the hardship this withdrawal of services will cause the good people of Anambra, however we appeal to the state government to expedite action towards securing the release of our colleague so as to restore normalcy to the health system.
NMA Anambra leadership will continue to brainstorm and work together with all relevant government agencies to collectively achieve a healthy and secured populace,” it said.
THISDAY correspondent who monitored the compliance to the directive found that both private and public hospitals were shut down in compliance. Patients were seen at some hospitals within the state capital wandering about, without doctors to take care of them.
A trader, Mrs Onyekachi Ugwueze who took her mother to Regina Caeli Hospital, a mission owned facility for
Though many have praised Soludo for his initial war against criminals masquerading as freedom fighters, who had initially taken over some local government areas, others are of the view that he has relapsed in this efforts, leading to insecurity in the state. Today, cultism, kidnapping, robbery and other violent crimes have become rife in Anambra State
treatment on Friday lamented that there were no services from doctors.
“We just wasted our time today, and my mother is very sick. At some point, someone directed that we should take her to a private hospital, but I was surprised that as we made to leave, we received information that even private hospitals are not open. Friday was a horrible day for us. We only used the advice of some experts to do self medication on our mother.”
For the Ugwueze’s, self medication through expert advise may have worked for them, but who knows how many other people may have lost their lives because of inability to access quality healthcare?
In the same Regina Caeli Hospital, some patients who were due for attention for eye check in a free medical outreach program which was to be organised for the patients was later cancelled until further notice. A notice to that effect, which was circulated read: “the free eye outreach will not hold till further notice! This is due to the unforseen medical strike that started today, 23/08/2. All inconveniences are highly regretted."
After three days of strike, relief however came on Sunday, when MMA announced the suspension of the strike. Okam and Obiaeli as in another press statement said: “The total and indefinite strike action called by NMA Anambra Branch to protest the kidnap of our member Dr Stephen Ezeh is hereby called off following his release. Clinical services resumes 08:00 hours Sunday Aug 25.
“We appreciate the good people of Anambra for bearing with us through this trying times while we earnestly pray that this tribulation will not arise again. We appreciate our colleagues for their solidarity and doggedness in the face of the challenges facing the sector, especially insecurity and urge them to remain resolute and committed towards delivering healthcare to Anambra people,” it said.
THISDAY later gathered that the suspension was due to the release of Dr Ezeh from captivity. It was however not certain the role of the state government in his release, or whether his release was unconditional , and caused by the action embarked upon.
But the frequency of strike actions by professional bodies as a result of insecurity, resulting in the kidnap of their members have become high, fueling the suspicion that insecurity may one-day cripple every sector of the state if kidnappers seize professionals from all critical and relevant sectors at the same time.
Though many have praised Soludo for his initial war against criminals masquerading as freedom fighters, who had initially taken over some local government areas, others are of the view that he has relapsed in this efforts, leading to insecurity in the state. Today, cultism, kidnapping, robbery and other violent crimes have become rife in Anambra State.
Mrs Ugwueze who lamented fate of her mother within the three days of the strike by medical doctors said: “We pray that there will not be a day when doctors, Lawyers, teachers, traders and other essential service providers will be protesting the kidnap of their colleagues at the same time. That will leave us with no option than to leave Anambra.”
She called for total declaration of state of emergency on security in Anambra State by the Soludo-led government.
Governor Soludo
FOCUS
Wale Tinubu: The Indefatigable Spirit of Africa’s Top Entrepreneur
“Repeat a lie often enough and it becomes the truth,” is a law of propaganda often attributed to the Nazi Joseph Goebbels. Repetition makes a fact seem more true, regardless of whether it is or not.
This clearly may be why those who are envious and intimidated by the rising profile of Oando Plc and that of its Group Chief Executive Officer, Wale Tinubu, have in recent times been spreading negative narrative against them. Oando and Wale Tinubu have come under scrutiny in the past few months with detractors linking their achievements to President Bola Tinubu and Nigeria’s Presidency.
Those who continue to push this narrative have failed to take time to look at the trajectory of Oando, which has grown organically to emerge as one of the leading oil and gas companies in Africa, touching several lives and impacting communities as well as Wale Tinubu, who by dint of hard work has emerged as one of Africa’s formidable business leaders.
Wale Tinubu has been doing big things even before Tinubu emerged as President. Over the years he has remained a leading light in the oil and gas industry cutting major deals in the sector without anyone linking him to Nigeria’s Presidency.
The story of Oando is about three young boys - Wale Tinubu, Mofe Boyo and Jite Okoloko - who dared to dream. They made bold decisions in the early stage of their business, experienced normal ups and downs and today are reaping the fruits of their hard work. Like every strong and visionary leader, these young men persevered and never gave up. Only those who dare to dream succeed.
That is why by now hinging their success over the years on Bola Tinubu, who only emerged as Nigeria’s President in 2023, is seen as an attempt to belittle their daring spirit.
In a world often defined by challenges and setbacks, the entrepreneurial spirit shines as a beacon of hope. It’s the unwavering determination, the relentless pursuit of innovation, and the indomitable belief in one’s vision that drives individuals to overcome obstacles and create lasting impact. Wale Tinubu exemplifies this spirit. He has faced adversity head-on, transforming setbacks into stepping stones. From humble beginnings to developing a thriving enterprise, Wale Tinubu’s journey is a testament to the power of perseverance and the human spirit.
His story is not just about success; it’s about inspiration. His unwavering belief in ideas, coupled with his ability to adapt to changing circumstances, has enabled them to navigate the complexities of the business world.
Beyond Oando, Wale Tinubu is also a philanthropist. His commitment to giving back underscores his belief in the importance of social responsibility and his desire to make a positive difference in the world. In a time when many may feel discouraged, Wale Tinubu’s story should serve as a powerful reminder that with determination, resilience, and a touch of innovation, anything is possible. Born on June 26, 1967, Wale Tinubu attended his primary and secondary school education in Nigeria, then proceeded to University of Liverpool, England for his tertiary studies where he earned a Bachelor’s Degree in Law (LLB) in 1998. Subsequently, he went to the London School of Economics where he bagged a Master’s Degree (LLM) specialising in International Business Law in 1989 and was called to the Nigerian Bar in 1990.
He began his career in 1990 as a legal practitioner and later achieved a track record as a serial energy entrepreneur with a proven reputation in building energy companies and institutions.
An astute business leader, and a visionary with a track record of having raised over $4 billion from international financiers for various growth, acquisitions, and development projects. He sits on the board of multiple companies.
In 1993, he co-founded Ocean & Oil Group leading its growth from an oil trading and shipping company to a fully diversified Oil & Gas Company. In 2000, Ocean & Oil acquired a controlling interest in Unipetrol Plc and two years later, he led the largest-ever acquisition of a quoted Nigerian company, with Unipetrol Plc’s purchase of Agip Nig Plc, thereafter rebranded as Oando Plc. This group continues to positively impact the lives of millions of Nigerians till this day.
J.A.T (Jubril Adewale Tinubu), as he is fondly called by his admirers, is globally recognised for transforming Oando from a petroleum marketing company to sub-Saharan Africa’s foremost integrated energy group. Before he exited the downstream of the oil sector, Oando marketing had become the nation’s leading distributor of petroleum products with a network of over 130,000MT tank storage capacity and over 400 retail outlets.
He also pioneered the construction of a state-of-the-art mid-stream jetty designed to eliminate operational inefficiencies in petroleum product importation, resulting in millions of dollars in cost savings for the industry.
Also, Oando Gas and Power developed the nation’s foremost natural gas distribution company with circa 300km of gas pipelines delivering cleaner energy to over 150 commercial customers in Lagos, Calabar and Port-Harcourt.
In 2014, Oando Energy Resources (OER),
completed the $1.8 billion landmark acquisition of Conoco Phillips (COP) Nigerian businesses, fortifying the company as one of the largest indigenous oil & gas companies in Nigeria. Today, OER has interests in 15 licences with extensive infrastructure across the Niger Delta & West Africa in addition to being a strategic national gas supplier as it is the second largest gas supplier to the LNG and the domestic market as well as being a dominant power supplier to the nation via its Okpai Power Plant Phase 1 & 2.
In 2021, Wale Tinubu founded Oando Clean Energy Limited to design, and deliver clean energy projects towards the realisation of the nation’s energy requirements and the United Nation’s Race to Net Zero, following the execution of an MoU between the company and the Lagos State government to replace the state’s mass transit bus system with electric mass transit buses along with the supporting infrastructure. In May 2023, the company rolled out two electric mass transit buses in fulfilment of the Proof-of-Concept Phase, with 552 buses to be secured by the end of 2026.
In August 2024, 10 years after it purchased ConocoPhillips Nigerian assets, under his leadership, Oando Energy Resources (OER) finalised the acquisition of 100 per cent of Eni’s shares in Nigerian Agip Oil Company Limited (NAOC Ltd)- the Company holding 20 per cent stake in the NEPL/ NAOC/ Oando Joint Venture (the JV), for $783 million.
This transactwion increased Oando’s stake in the JV from the 20 per cent secured post-2014’s acquisition of COP’s Nigerian businesses to a 40 per cent stake in addition to doubling its 2P reserves (from 503.3MMboe to 996.2MMboe based on 2021 reserve estimates).
Furthermore, it expanded Oando’s exploratory asset portfolio through the acquisition of a 90% interest in OPL 282 and 48 per cent interest in OPL 135, increased the company’s ownership stake across the JV’s infrastructure, and grants the company
operatorship of the JV.
Speaking on NAOC’s acquisition recently, Wale Tinubu, said: “This is a new dawn for the Nigerian energy sector, and we are confident that indigenous companies will play a pivotal role in this next phase of the nation’s upstream evolution. With our assumption of the role of operator, our immediate focus is on optimising the assets’ immense potential in contributing to our strategic objectives, whilst complementing the nation’s plan to boost production outputs.
“Looking to the future, we will continue to pursue strategic opportunities that provide enhanced growth and value creation for our stakeholders, particularly in clean energy, agri-feedstock sector, as well as infrastructure and mining.”
No doubt, Wale Tinubu’s passion for driving a sustainable basic educational system for the Nigerian child led to the creation of the Oando Foundation which through its signature programme-The Adopt-A-School Initiative (AASI), has adopted about 88 public primary schools across Nigeria, supporting over 500,000 students- enrolled over 60,000 Out of School Children, trained 5000+ teachers, constructed 154 classrooms and sanitation facilities and established 39 digital learning centres, with a target of impacting two million beneficiaries across 200 schools by 2027 through its various education, and environmental initiatives.
A philanthropist and humanitarian, he led the drive to raise private sector awareness and funding for the humanitarian crisis in the Northeast by hosting the 2018 launch of the Nigeria Humanitarian Fund Private Sector Initiative (NHF-PSI) as well as leading a private sector delegation to a first-ever collective tour of two internally displaced camps in Maiduguri, Borno State. He was conferred with the National honour of Commander of the Order of the Niger (C.O.N) in October 2022 and is the recipient of numerous other national & international awards such as the World Economic Forum’s Global Young Leader 2007; African Business Magazine’s African Business Leader of the Year 2010; Leadership Businessperson of the Year 2014; Oil Council’s Africa Executive of the Year 2015, Ernst & Young’s West Africa Entrepreneur of the Year 2015, amongst many others. and has been the subject of several articles, case studies and literature. He is a member of the Nigerian Bar Association, the Institute of Directors of Nigeria, the Lagos Boat Club, Ikoyi Club, Polo Club, and several other social & professional associations. He is an ardent reader and a lover of jazz music. He is happily married with children.
Oando is one of sub-Saharan Africa’s leading Indigenous energy companies based in Nigeria and a dual listing on both the Nigerian and Johannesburg stock exchanges. Clearly, the transformative journey of Oando has been a 30-year one. From the foregoing, it is clear that Wale Tinubu and Oando have consistently focused on pushing beyond the boundaries to achieve results. The success of this business leader and his company is not tied to Bola Tinubu’s Presidency. In a time when many may feel discouraged, Wale Tinubu’s story should serve as a powerful reminder that with determination, resilience, and a touch of innovation, anything is possible. His journey is a testament to the enduring spirit of entrepreneurship, a force that continues to shape our world and inspire future generations.
Donatus Eleko
Tinubu
This Week In Tech
08097710984 (WhatsApp only)
alekhuogien@yahoo.com
Game-changing Tech: Top 10 Gadgets that Shaped 2024
In 2024, technology has pushed boundaries like never before, with innovative gadgets reshaping how we work, play, and connect. From cutting-edge smart devices to powerful tools that redefine convenience, this year’s top gadgets are more than mere upgrades. They are revolutionising everyday experiences. Whether you are a professional looking to enhance productivity or a tech enthusiast seeking the latest entertainment, these standout devices have left a lasting impact on the way we live in a hyper-connected world. As 2024 enters its final quarter, the global consumer electronics market, where these tech gadget innovations are categorised and traded, is booming. The market is projected to reach $950 billion in revenue, reflecting an annual growth rate of 2.9 per cent from 2024 to 2029, according to Statista. Telephony leads the sector with $486.7 billion in revenue, with China contributing $198.5 billion. Meanwhile, the U.S. is seeing a surge in smart home devices, and Nigeria’s market is expected to grow to $16.2 billion, driven by demand for affordable smartphones with high-quality cameras. Below are my top 10 game-changing tech gadgets of 2024.
Apple iPhone 16
The Apple iPhone 16 lineup, including the iPhone 16, iPhone 16 Pro, and iPhone 16 Pro Max, sets new standards in smartphone technology with advanced features and sleek designs. Each model showcases a stunning Super Retina XDR display, with the Pro versions offering ProMotion technology for smoother scrolling and enhanced responsiveness. The A16 Bionic chip powers the devices, delivering exceptional performance while optimising battery life for all-day use.
Camera capabilities are a highlight of the iPhone 16 series, with improved sensors and computational photography features. The Pro models boast a triple-camera system that includes ultra-wide, wide, and telephoto lenses, allowing users to capture stunning images in any environment. New features such as Photonic Engine enhance low-light photography, while Cinematic mode enables professional-quality video recording with shallow depth of field.
Moreover, the iPhone 16 series integrates seamlessly with the Apple ecosystem, supporting features like FaceTime, AirDrop, and iCloud. Enhanced security measures, including Face ID and improved privacy settings, provide users with peace of mind. The powerful hardware, innovative software, and sleek design make the iPhone 16 series a top choice for those seeking the best smartphone technology.
Samsung S24 Ultra
The Samsung S24 Ultra is a flagship smartphone, an epitome of cutting-edge technology and design. Featuring a stunning 6.8-inch Dynamic AMOLED display, the device delivers vibrant colours and incredible detail, making it perfect for streaming and gaming. The S24 Ultra is powered by the latest Snapdragon processor, ensuring smooth performance, efficient multitasking, and an impressive battery life that keeps users connected throughout the day.
Photography enthusiasts will appreciate the S24 Ultra’s advanced camera system, which includes a 200MP main sensor, ultra-wide, and telephoto lenses. This versatile setup allows users to capture stunning images in various conditions, and new software enhancements improve low-light performance and provide advanced editing options. The device also supports 8K video recording, giving users the ability to create professional-quality videos with ease.
Google Pixel 9 Pro Fold
The Google Pixel 9 Pro Fold represents an advancement in smartphone technology, showcasing Google’s commitment to innovation. With its foldable design, the device seamlessly transforms from a compact phone into a larger tablet-sized screen, providing users with enhanced versatility for multitasking and content consumption. The 7.6-inch OLED display boasts vivid colours and sharp resolutions, making it ideal for streaming videos and playing games. Under the hood, the Pixel 9 Pro Fold is powered by Google’s custom Tensor processor, ensuring efficient performance and improved AI capabilities. The device features an advanced camera system with multiple lenses designed to capture stunning photos in various lighting conditions.
innovative setup allows users to run multiple applications simultaneously, making it ideal for creatives and professionals who require efficient workflows.
inner workings of the earbuds, they stand out as a unique accessory. Featuring 11.6mm dynamic drivers, the Ear (a) delivers rich sound quality with a balanced audio profile that enhances music, podcasts, and calls. The earbuds also offer active noise cancellation, allowing users to immerse themselves in their audio experience without distractions from their surroundings.
Ray-Ban Meta Smart Glasses
Users can take advantage of the innovative Magic Eraser tool to edit photos easily, enhancing their photography experience. Additionally, the Pixel 9 Pro Fold runs on the latest version of Android, providing users with a clean and intuitive interface, along with timely software updates.
while the secondary ScreenPad Plus offers an additional 12.6-inch touchscreen for enhanced multitasking capabilities. This
Powered by the latest Intel processors and equipped with up to 32GB of RAM, the Zenbook Duo 2024 delivers outstanding performance for demanding tasks such as video editing and gaming. The device also features a high-capacity battery, ensuring users can work or play without frequent interruptions. Additionally, the ergonomic design includes a comfortable keyboard and an improved cooling system, enhancing user experience during long sessions.
OnePlus Watch 2
The OnePlus Watch 2 is a feature-rich smartwatch designed to cater to fitness enthusiasts and tech-savvy users alike. With a sleek design and a vibrant AMOLED display, the watch provides a clear view of notifications, health metrics, and fitness tracking data. Equipped with various fitness modes, including running, cycling, and swimming, the OnePlus Watch 2 tracks users’ workouts accurately and offers personalized coaching to help them achieve their fitness goals.
Battery life is another standout feature, with the watch lasting up to two weeks on a single charge, making it ideal for users who prefer not to charge their devices frequently. The watch is compatible with the OnePlus Health app, allowing users to monitor their health metrics such as heart rate, sleep patterns, and stress levels over time. This data-driven approach promotes a holistic view of users’ wellness journeys.
Microsoft Surface Laptop 7
The Microsoft Surface Laptop 7 combines elegant design with robust performance, making it an excellent choice for both professionals and casual users. With a sleek, lightweight body, it is easily portable, featuring a 13.5-inch PixelSense touchscreen display that offers vibrant colours and sharp clarity. The Surface Laptop 7 is powered by Intel’s 10thgeneration processors, providing users with seamless multitasking capabilities and improved battery life, lasting up to 11.5 hours on a single charge.
Equipped with a range of configurations, users can choose between various RAM options and storage capacities, ensuring a personalized experience tailored to their needs. The laptop supports USB-C connectivity, allowing for fast data transfer and compatibility with modern peripherals. Moreover, the built-in HD webcam and dual far-field Studio Mics make video calls clearer and more professional, appealing to remote workers and students alike.
Nothing Ear (a) wireless earbuds
The Nothing Ear (a) is a pair of wireless earbuds that redefine audio aesthetics and performance. With a transparent design that allows users to glimpse the
The Ray-Ban Meta Smart Glasses seamlessly blend fashion and technology, offering a stylish accessory with integrated smart features. Designed in collaboration with Meta, these glasses enable users to capture photos and videos directly from their eyewear, utilizing built-in cameras and microphones. With voice command capabilities and touch controls, users can easily access their favourite social media platforms and share content on the go. These smart glasses are equipped with advanced audio technology, providing high-quality sound while maintaining an open-ear design. This feature allows users to stay aware of their surroundings while enjoying music or taking calls, enhancing the overall user experience. The glasses also boast a sleek design, available in various styles and colours to suit individual preferences.
Samsung Galaxy Ring
The Samsung Galaxy Ring is poised to revolutionise the wearables market with its innovative approach to health tracking. Designed to be lightweight and comfortable, this smart ring offers a discreet way to monitor various health metrics, including heart rate, sleep quality, and physical activity levels. The Galaxy Ring’s sleek design makes it an attractive alternative to traditional fitness trackers, appealing to users who prefer subtle wearables.
Equipped with advanced sensors, the Galaxy Ring provides accurate and real-time data, helping users understand their health trends over time. The accompanying Samsung Health app offers personalized insights and recommendations based on the collected data, encouraging users to maintain a balanced lifestyle. In addition to health tracking, the Samsung Galaxy Ring supports notifications from smartphones, allowing users to stay connected without constantly checking their devices.
LG Wireless OLED T (Transparent OLED TV)
The LG Wireless OLED T takes television technology to the next level with its transparent design. When powered off, the TV becomes almost invisible, blending seamlessly into any room decor, but when turned on, it displays stunning 4K visuals with vibrant colours and deep contrasts typical of OLED technology. The transparency feature allows viewers to see through the screen, creating a unique experience where the television does not dominate the room but rather enhances its aesthetic.
In terms of performance, the LG Wireless OLED T features advanced image processing technologies, ensuring that content is displayed with exceptional clarity and detail. With support for HDR content and Dolby Vision, viewers can enjoy a cinematic experience from the comfort of their homes. The integration of smart TV features allows for access to popular streaming services, making it a versatile entertainment hub.
Asus Zenbook Duo 2024
With its unique dual-screen design, the Asus Zenbook Duo 2024 takes productivity to new heights. The main 14-inch OLED display delivers vibrant visuals and exceptional colour accuracy,
earbuds also offe allowinguserstoi
Ray-Ban Meta Smart Glasses Meta Smart Glasses
Nigerians
Arthur Eriye
The harsh economic situation in the country has assumed a new dimension as Nigerians now struggle to afford basic food items.
Food inflation has reached an all-time high with analysts predicting that there may be no respite if the federal government fails to tackle insecurity to enable farmers return to their farms.
Confirming the dire economic
Kayode Tokede
As investors scramble for fixed income securities as a result of attractive interest rates, the total subscription for FGN bonds increased to N6.05 trillion in nine months of 2024.
THISDAY analysis of the latest auction by the Debt Management Office (DMO) revealed that investors were offered N5.3 trillion in the period under review but the DMO allotted N4.99 trillion.
Since the beginning of 2024, THISDAY gathered that investors have shown interest in the longterm FGN Bond, a major factor contributing to the amount raised in the period.
The nine months auction by DMO revealed a shift in investor preferences towards higher-yielding and longer-tenor bonds, amidst a backdrop of cautious market sentiment.
The DMO between January and September 2024 has continually re-open some FGN Bonds and
situation in a report, the National Bureau of Statistics (NBS) said prices of beans, bread, yam, rice and other food items increased further in August 2024.
The NBS in its, “Selected Food Prices Watch” report for August, NBS said the average price of 1 kilogram (kg) of brown beans (sold loose) stood at N2,574.63 year-on-year, an increase of 271.55 per cent, when compared to the N692.95 recorded in August 2023.
steadily hike its interest rate to attract investors amid double-digit inflation rate.
THISDAY also gathered that DMO in February 2024 recorded the highest amount offered, about N2.5 trillion but settled for N1.49trillion with a subscription level at N1.9 trillion.
With the budget deficit in the 2024 budget put at N9.18 trillion, the FG seems committed to borrowing more from the domestic market.
However, the latest auction for September 2024, showed that DMO on behalf of the FG raised N264.527 billion, about 29 per cent decline when compared to N374.751 billion in August 2024.
The auction result revealed that, DMO reopened three tranches of FGN bonds: the 19.30% FGN APR 2029 (5-year bond), the 18.50% FGN FEB 2031 (7-year bond), and the 19.89% FGN MAY 2033 (9-year bond).
In the month under review, DMO offered N150 billion to investors and it recorded a
Also, the price increased by 5.31 per cent on a month-on-month basis from N2,444.81 in July 2024.
The bureau said the price of medium-sized Agric eggs (12 pieces) increased by 121.92 per cent on a year-on-year basis from N1,031.55 recorded in August 2023 to N2,289.19 in the same month this year.
“On a month-on-month basis, the average price of this item rose by 5.48 per cent from N 2,170.17 in July 2024,” the NBS said.
subscription of about N414.881 billion.
The auction result of DMO had revealed that in August 2024, the debt office offered the same bond tenors and amounts, but total subscriptions were higher at N460.182 billion.
The N414.881 billion subscription in September 2024, represents a 9.8per cent decrease in total subscriptions month-on-month, with the largest decline in the 9-year 19.89% FGN MAY 2033 bond, which saw subscriptions drop from N460.182 billion in August 2024.
Despite the lower allotment in September, the results indicate sustained demand, particularly for longer-dated instruments.
In this auction, N70 billion was offered for both the 5-year and 7-year bonds, while N50 billion was offered for the 9-year bond.
The 19.89% FGN MAY 2033 bond attracted the highest subscription, with bids totaling N337.347 billion against the N50 billion offer. Out of these bids, N230.716 billion was
The report said the average price of sliced bread increased by 113.16 per cent on a year-on-year basis to N1,459.85 in August, compared to the N684.85 reported in the same period in 2023.
On a month-on-month basis, the bureau said the price increased by 2.28 per cent from the N1,427.25 recorded in July.
The NBS said the average price of 1kg of local rice rose by 148.41 per cent on a year-on-year basis
allotted at a marginal rate of 20.05%.
The 18.50% FGN FEB 2031 bond garnered N54.979 billion in subscriptions, with N31.079 billion allotted at a marginal rate of 19.99%.
On the shorter end of the spectrum, the 19.30% FGN APR 2029 bond saw bids worth N22.555 billion, with N2.732 billion allotted at a marginal rate of 19.00%.
In the September bond auction, the marginal rates across all bond tenors were lower compared to the previous month’s rates. For the 5-year bond (19.30% FGN APR 2029), the marginal rate in August was 20.30%, while in September it dropped to 19.00%. This represents a 6.40% decrease in the marginal rate from August to September.
Similarly, the 7-year bond (18.50% FGN FEB 2031) saw its marginal rate decrease from 20.90per cent in August to 19.99per cent in September 2024.
This translates to a 4.35per cent decrease in the marginal rate, again indicating a more favorable borrowing condition for the
from N737.11 recorded in August 2023 to N1,831.05 in August 2024.
“On a month-on-month basis, it increased by 3.65 per cent from N1,766.64 recorded in July 2024,” the report said.
The bureau said the average price of 1kg of a tuber of yam increased by 188.31 percent on a year-on-year basis from N576.39 in August 2023 to N1,661.80 in August 2024.
However, NBS said on a monthon-month basis, the price decreased
government as investors were willing to accept a lower return compared to the previous month.
The largest rate reduction occurred in the 9-year bond (19.89% FGN MAY 2033), where the marginal rate fell from 21.50% in August to 20.05% in September. This marks a 6.74% decrease in the rate.
The reduction in the rate suggests that the government was able to secure funding for this tenor at a slightly lower cost, which could help reduce debt servicing obligations.
Meanwhile, analysts stated that the strong demand for FGN bond to attractive yield, which offers investors high returns on their investments, stressing that the oversubscriptions also revealed that investors have confidence in the federal government’s ability to meet its debt obligations.
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf had stated that the FG notified the general public of borrowing more in 2024.
by 7.82 percent from the N1,802.84 recorded in July. Also, the bureau said the average price of 1kg of tomato increased on a year-on-year basis by 171.72 per cent from N554.37 recorded in August 2023 to N1,506.35 in August 2024.
“However, on a month-on-month basis, the average price of 1kg of tomato declined by 11.07 percent from N1,693.83 in July 2024 to N1,506.35 in August,” the NBS said.
He said, “With all the volatility and foreign exchange issues, it makes sense to borrow at the domestic market rather than borrowing from the international market. It is all a reflection of our macro economy environment challenges and weak fiscal policy of the government. All this borrowing also is a reflection of the weak financial position of the government and it will continue like that.”
“The appetite for FGN bonds indicates that PFAs, and Nigerian investors prefer investment instruments with less volatility that assures them of their capital returns albeit with low yield on investment.
“But some analysts attributed the under subscription to some issuances to fear of interest rate risk, “as investors are full well informed that economy is still very much challenged and that inflationary pressure remains unabated.
Electronic Transfers Hit N566bn, PoS Transactions Now N6.23tn
Data from the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that electronic transfer transactions surged to an impressive N566.39 billion in the first seven months of 2024.
The growth underscores the rising consumer confidence in digital payment solutions and the advancements in financial technology that have facilitated a more accessible and efficient payment ecosystem.
The year began robustly, with January reporting N72.11 billion in electronic transfers, as more Nigerians engaged with digital platforms for their transactional needs.
This momentum continued into February, when the total rose to N79.33 billion, showcasing a burgeoning reliance on electronic payments among consumers. March demonstrated further progress, with electronic transactions climbing to N83.05 billion, signaling a strong consumer inclination towards cashless payments as digital banking options become increasingly mainstream.
April saw a slight decline in activity,
with transactions falling to N75.32 billion, a change likely influenced by seasonal spending patterns and the typical financial behavior of consumers during that period.
However, the market rebounded in May, with electronic transfers reaching N87.48 billion, propelled by heightened consumer spending and engagement with various digital platforms. June’s figures stabilised at N79.59 billion, reflecting consistent activity in electronic transactions and solidifying the trend towards cashless solutions. July capped off the period with the highest monthly total of N89.50 billion, indicating a robust increase in electronic payment activity as more users shifted towards digital solutions.
The cumulative total of N566.39 billion not only underscores the growing acceptance of electronic transfers in Nigeria but also highlights a broader societal shift towards embracing technology in everyday financial transactions.
In conjunction with this digital payment growth, another data NIBSS revealed that Nigeria’s Point of Sale (PoS) transactions reached
N6.23 trillion in the same period. This figure represents a notable year-on-year decline compared to N7.88 trillion recorded during the
first seven months of 2023. While January 2024 showcased a 5.32 per cent increase in PoS transactions, totaling N850.09
billion compared to N807.16 billion in January 2023, subsequent months exhibited lower volumes. February to May 2024 saw declines, with
April recording the most significant drop21.95 per cent to N811.78 billion, down from N1.04 trillion in April 2023.
Caverton Offshore’s Stock Price Drops to N2.68 on Discrepancies in H1 Results
Kayode Tokede
For announcing discrepancies in its unaudited half year 2024 results, the stock price of Caverton Offshore Support Group Plc has depreciated to N2.68 per share as investors profittaking rock the support and logistics company quoted on the Nigerian Exchange Limited (NGX).
On the backdrop of profit-taking, the stock price of Caverton Offshore Support Group led other stocks as top losers on the Exchange, dropping by 27.37per cent to N1.01per share from N3.69 per
share it opened for trading.
The stock price that reached N4.05 per share last week witnessed a free fall to N2.68 per share when the news of discrepancies in H1 2024 results was filed on the Exchange.
The company reported N3.7 billion loss in H1 2024 from N258.64 million in H1 2023, amid N4.8 billion net finance cost in the period under review as against N763.22million reported in the corresponding period of 2023.
Revenue in H1 2024 stood at N18.8 billion, about 41.5 per cent increase from N13.3 billion
reported in H1 2023,
Capital market analysts said investors were anticipating improved performance from the first quarter ended March 2024 but were surprised when the company declared a loss.
They added that investors also reacted over the discrepancies in H1 2024 unaudited result and accounts, calling on thee regulatory body to investigate.
The Company Secretary/ Legal Adviser, Caverton Offshore Support Group, Amaka Obiora in a statement had explained that the management discovered
discrepancies in the unaudited H1 2024 financial statements particularly concerning the inaccurate reporting of losses incurred.
She siad,“On behalf of the Company, we wish to express our sincere apologies for this error. Upon investigation, it was found that the issue arose due to a formatting error in the preparation of the financials. We would like to assure the NGX and the investing public that the company had no intention of misleading or deceiving the market.”
A university don and former commissioner for finance in Imo State, Prof. Uche Uwaleke has advised the federal government to control recurrent spending and focus on productivity, including ramping up assistance to smallscale businesses.
Group Business Editor
Eromosele Abiodun
Deputy Business Editor
Chinedu Eze
Comms/e-Business Editor
Emma Okonji
Asst. Editor, Energy
Emmanuel Addeh
Asst. Editor, Money Market
Nume Ekeghe
Correspondents
KayodeTokede(CapitalMarkets)
James Emejo (Finance)
Ebere Nwoji (Insurance)
Reporter
Peter Uzoho (Energy)
Uwaleke’s admonition was in reaction to Tuesday’s hike in the Monetary Policy Rate (MPR) by the Monetary Policy Committee of the Central Bank of Nigeria ((CBN), from 26.75 per to 27.25 per cent, representing a 50 basis points increase.
Uwaleke, who is the Director of the Institute of Capital Market Studies, Nasarawa State University as well as the President, Association of Capital Market Academics of Nigeria (ACMAN), said he was of the belief that members of MPC meant well for the economy and have taken the decision to further tighten monetary policy based on strong evidence of major threats to exchange rate and inflation. However, he submitted that the task of taming inflation must be jointly tackled by both the monetary and fiscal authorities, adding that the government has to play its part by controlling recurrent spending and focusing on productivity, including ramping up assistance to small businesses.
He said: “My take on the recent hike in MPR is that in matters like this, the CBN usually has information that may not be at the disposal of the public.I want to believe the members of MPC mean well for the economy and have taken the decision to further tighten monetary policy based on strong evidence of major threats to exchange rate and inflation.”
The National Insurance Commission (NAICOM), has highlighted five strategies it will adopt to achieve insurance accessibility and penetration across the country.
The commission said these strategies were namely, safeguarding policyholders and improving confidence in the industry, strengthening the agency’s supervisory capabilities and organisational effectiveness, improving safety and soundness of the Nigerian insurance industry,
Emma Okonji
Technology experts have stressed the need for full automation of motor vehicle administration in Nigeria, in order to address the inefficiency in traffic management and improve safety in road transportation.
They said this at a recent stakeholders’ meeting in Lagos, designed to address the challenges of road transportation in Nigeria.
Deputy Managing Director, Courteville Business Solutions Plc, Mr. Wale Sonaike, advocated the full automation of Motor Vehicle Administration in the country to firm up efficiency in traffic management, improve safety in road transportation and reduce the spate of insecurity on our roads.
Sonaike stressed on the need for the automation of the transport sector owing to the rising cases of
and fostering innovation and sustainability of the Nigerian insurance industry.
NAICOM said these would enhance overall insurance accessibility and penetration in Nigeria.
The Commissioner for Insurance, Ayo Olusegun Omosehin stated these while speaking at the 2024 Insurance Meets Tech (IMT) organised by Modion Communications in Lagos.
Omosehin who was represented at the event by the Head, Lagos Control Office of NAICOM, Mr Julius Odidi spoke on the theme,
fake documentations in Driver’s Licence procurement, fake vehicle documentations, falsification of records and extortions of perceived traffic offenders by enforcement agents.
Sonaike said his company took the lead with the innovation of a mobile hand held device known as AutoReg, the first in the country, used for collating transport data that has helped state governments and federal government agencies in automating every aspect of motor vehicle administrations.
According to him, “Our vision as a company is to be a globally accepted business solutions company supplying unique services for the Transport industry with locally developed innovations. We made an incursion into the public sector through the reengineering of the motor vehicle administration process
“Revitalising the Insurance Industry to Risk-Manage Nigeria’s One-Trillion-Dollar Economic Aspiration.”
He said NAICOM played a vital role in fostering innovative business solutions that address pressing economic and social issues in Nigeria’s insurance sector, adding that the commitment extended to ensuring prompt settlement of legitimate claims, promoting market growth through innovation, and driving commercial value within the industry.
He said efforts must be made
through our flagship product known as the AutoReg. The application was pioneered in Lagos State through the Motor Vehicle Administration Agency (MVAA).”
Courteville AutoReg is currently in 22 states, which according to him, is an evidence of wide spread adoption, stressing that, “for better collaborative efforts, the various states where we work have consented to data upload to our National Vehicle Information System (NVIS) managed by FRSC for ease of management, verifications and enforcement of compliance on our roads.”
Another tech expert from Imo State, Fidel Ambrose, a affirmed that offenders were easily captured using the AutoReg application either for expired documents, traffic issues or for non-compliance offences. “It is worthy to note that the AutoReg
to address key fundamental issues plaguing the sector, which include among others low insurance penetration, lack of public trust, market fragmentation, regulatory reforms and digital transformation and adaptation.
He cited instance of the surge of COVID-19 in year 2020-2021 saying when the pandemic was threatening global safety and testing the abilities, resilience and preparedness of nations globally to deal with the unexpected outbreak, the it had highlighted the need for digitalisation.
platform has become a veritable platform to recover stolen vehicles as well as eliminating double vehicle registration and confirmation of vehicle chassis along international standards before registrations are carried out,” Ambrose said.
An Abuja based transporter, Mallam Dahiru Saliu, said: “The AutoReg application is apt and has been in the market for over 15 years, suggesting a high level of acceptability and relevance.”
Fielding questions from Journalists, Sonaike, said: “Hi-tech is the way to go as being deployed in developed countries for similar purposes. The digitalisation of surveillance and deployment of tracking technology is the right way to go. There is also the need for proper digital registration of all vehicles both for the private and commercial ones.”
Ndubuisi Francis in Abuja
Nume Ekeghe
Ebere Nwoji
Mathematics of Petrol Subsidy and Pricing in Nigerian Context
Day-B
In recent times there have been a lot of social, economic and political discussions on the subject of petrol subsidy in the country.
Some argue that there is no more subsidy, while others say subsidy still exists. The only way to decide who is right or wrong is to analyse the various cost components that determine the pump price of petrol at the petrol stations. We need to develop a cost model for petrol price and the simplest way of doing this is to come up with a formula.
Let us identify the direct and overhead cost factors or accounting variables that determine the retail price of petrol sold by NNPC/ PPMC to major marketers. Each of these factors will be represented by alphabetical symbols as follows:
P$ = the price of a liter of petrol in dollars at the point of discharge at NNPC depot in Lagos (Atlas Cove), that is, ex-refinery cost in Europe plus transport and insurance(CIF).
D = import duty or excise duty charged by customs (if any)
R = exchange rate of Naira to the dollar (N/$) as determined by Central Bank governor
PN = Price of petrol in Naira after conversion from dollar to Naira by NNPC
CF = fixed overhead costs in naira ( premium, NMDPRA fees, inspection fee, margin, local transport in Lagos)
By simple arithmetic
Petrol price in Naira = Price in dollars x N/$ exchange rate x import duty
i.e PN = P$ x R x D Let us assume there is no duty on imported petrol, that means D=1, thus we have
PN = P$ x R i.e. price of imported petrol in Naira is equal to landing price in dollars times the Naira/dollar exchange rate.
We can add overhead cost to this to get the final market price, PM , of petrol, so we have
PM = P$ x R + CF …… equation 1
Where PM = market price (ex=Lagos). To avoid complicating the formula I have not added the transport cost to the hinterland and marketers’ profit margin.
We now have an equation with four variables or unknowns.
However based on the above costing template release by NNPC on Tuesday 17th September, we now know the value of two of the variables, landing cost of petrol in dollars, P$ = $0.52 and overhead cost, CF = 107.61 Naira,
So substituting in equation 1 above, we have a formula
PM = 0.52R + 107.61 Naira per liter
For those familiar with secondary level further maths, this is the same as the general equation of a straight line, Y = mX + C . For practical purposes, I have assumed that the landing cost of imported petrol or ex-refinery cost in dollars and the overhead cost are fixed. Consequently, the general formula for determining the final market price of refined petrol in Nigeria ( ex-Lagos) is PM = 0.52R + 107.61 Naira per liter (ex-Lagos)
In this final formula, naira/dollar exchange
rate, R, is the only unknown independent variable. We need to introduce another final variable, PG which is the political price at which the petrol is sold to the public. That brings us to the final equation/formula
That is, subsidy is equal to the difference between the market price of petrol and the price at which government directs NNPC to sell the commodity to the public.
For the sake of those who are not familiar with mathematics or algebra, I will interpret the above equations in simple lay man’s language by the following statements:
FACT 1: The dominant factor that determines the real pump price of petrol in Nigeria is the naira to dollar exchange rate. The contribution of the international price of crude oil is minimal and almost constant.
FACT 2: Subsidy is actually the discount that NNPC offers local buyers by selling petrol below the actual market price, PM
FACT 3: Subsidy removal is just another way of saying that no more discount is offered to Nigerian buyers
FACT 4: The existence or non-existence of subsidy depends mainly on the exchange rate of Naira to dollar.
FACT 5: Whenever the Naira to dollar exchange rate varies, the pump price of petrol must be adjusted upward (or downward) in order to make it equal to the market price so as eliminate subsidy (or avoid overpricing)
FACT 5: The de facto or dominant institution that actually determines the price of petrol in Nigeria as of today is the Central Bank. It is neither His Excellency, the President, nor NNPC the importer .
The president came out with a policy that there should be no more fuel subsidy. It is now the responsibility of NNPC in conjunction with Central Bank to implement the policy in monetary terms. I can prove the above statement by simple arithmetic.
When on May 29, 2023, the President removed oil subsidy, the official CBN exchange rate of naira to the dollar was about N470 to $1. Immediately, NNPC adjusted the price to about N600/liter (ex-Lagos) in order to make the pump price equal to market price, thereby eliminating subsidy. For reasons best known to it, CBN decided to float the Naira. Consequently, the exchange rate rose from 460 to 1,600 Naira to the dollar. In fact it temporary rose to about 1,900 in the parallel market before it stabilized to 1600 after CBN intervention. NNPC did not immediately adjust the pump price to reflect the new exchange rate. That means pump price is now less than market price, so subsidy was back. Then in August, 2024, NNPC now decided to apply the new exchange rate in formula 1 above in order to eliminate subsidy. Consequently, the pump price of petrol rose to N986/liter ex-Lagos.
If the Central Bank again in October decides that the exchange rate of Naira to dollar comes down to 1000, the pump price of imported petrol will be adjusted downwards to N627/liter by NNPC based on formula 1 above assuming the landing price in dollars remains the same. Also if on the other hand the Cardoso-led Central Bank again in November decides that the exchange rate of Naira to the dollar is goes up to N2000 to the dollar, then NNPC will again have to adjust the pump price of imported petrol upwards to N1,147 per liter ex-Lagos in order to again eliminate subsidy.
NDIC Commits to Settle Depositors of Defunct Heritage Bank with Balances Above N5m
Eromosele Abiodun, Nume
Ekeghe James Emejo
The Nigeria Deposit Insurance Corporation (NDIC), has pledged to pay depositors of the now defunct Heritage Bank Plc with balances exceeding N5 million following the closure of the bank.
NDIC Managing Director/ CEO, Bello Hassan, said this at the NDIC workshop organised for Finance Correspondents Association of Nigeria (FICAN) and Business Editors in Lagos yesterday with the theme, “Strengthening Nigeria’s Financial Safety-net, The Role of Deposit Insurance.”
According to Hassan, “The recent closure of Heritage Bank, following the revocation of its license by the CBN on June 3, 2024, underscores the NDIC’s critical role in safeguarding depositors. Acting in accordance with the relevant provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020 and the NDIC Act 2023, the NDIC was appointed liquidator to manage the orderly resolu-
tion of the bank and oversee the payment of its depositors and other claimants.
“In the discharge of this critical role of depositor reimbursement, the Corporation began the payment of the insured deposits of N5 million maximum per depositor within a record time of four days of the bank’s closure. This was achieved using Bank Verification Numbers (BVN) as a unique identifier to locate depositors’ alternate accounts in other banks without the need to fill forms or visits the NDIC offices.”
He added, “This innovative approach has indeed, enabled the payment of 84.98 per cent of depositors with BVN linked accounts to date. The prompt payment of depositors, coming at a time when the Corporation had also recently increased the deposit insurance coverage from N500,000 to N5 million in Deposit Money Banks, significantly cushioned the negative impact of bank failure, especially during the current challenging economic climate. This achievement is
consistent with the provisions of the International Association of Deposit Insurers (IADI) Core Principle 15, which emphasises timely payouts to depositors of failed bank.
“Having largely reimbursed depositors their insured deposits, the Corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits. These uninsured deposits represent a significant portion of the total deposits in Heritage Bank. In this regard, the Corporation is already working assiduously to ensure that, all depositors with amounts in excess of the maximum insured amount of N5 million are paid through liquidation dividends from the realisation of the defunct bank’s assets and recovery of debts. The Corporation has already initiated the process of debt recovery and realisation of investments and physical assets of the defunct bank to ensure timely payment of the uninsured deposits of the defunct bank.”
Raiz, a pioneering digital bank, has launch its digital banking services in Nigeria, offering a groundbreaking solution that allows individuals and businesses to bank from anywhere, anytime.
With the unique ability to issue bank accounts that support multiple currencies, Raiz is set to transform the way Nigerians handle their finances.
Giving further details, CEO of Raiz, Segunfunmi Oyedele, said: “Raiz is here to change the way Africans bank by leveraging technology to break down financial barriers. Our mission is to provide everyone with the tools they need to manage their finances more
effectively, no matter where they are in the world.
We believe that by offering multi-currency accounts and utilizing advanced AI, we can create a more inclusive and efficient banking system for all.”
Raiz also offers features such as Communal Savings (Ajo), and it leverages AI technology to provide easier access to funds and foster community savings rather than human factor that is widely used. Additionally, Raiz provides Budget and Analytics Reports for users to monitor their spending habits and make informed financial decisions. For those in need of capital, Raiz’s Loans and Savings services utilise advanced technology to encour-
age savings and expedite loan processing, ensuring quicker access to funds.
While speaking at the launch, Brand Strategist at Raiz, Ada Ogbodo, said: “Raiz distinguishes itself with several competitive advantages. It is the only digital bank solution offering multi-currency accounts with multi-country remittance options specifically for Africans.”
As the digital banking landscape continues to evolve, innovations like multi-currency accounts and AI-driven financial tools are becoming essential, and Raiz remains at the forefront of these initiatives.
Ogbodo advised intending customers to sign up and download the app on Google
Play and IOS stores.
NSIA Insurance Pays N27bn Claims in Five Years
Ebere Nwoji
NSIA Insurance said it has paid a total of N27billion claims to its policyholders in the past five years.
The company said this is part of its commitment to customers and stakeholders.
Addressing the media briefly after the company’s 2023 Annual General Meeting held in Lagos, Chairman Nsia Insurance, Dr. Adesegun AkinOlugbade, said the company paid N7.8 billion claims in 2023 alone and paid N19.2billion
in the preceding four years, making a cumulative of N27 billion in five years.
He said NSIA Insurance would remain unflinching in its commitment to fulfil obligations to its customers as it is prominently known.
He added that the company’s Gross Written Premium recorded 24 percent growth up from N18 billion in 2022 to stand at N22.3 billion in 2023.
“The insurance service result also grew by 18 percent to N19.8 billion from N16.8 billion in 2022. This growth
permeated across the business lines with the non-life and life business achieving double-digit growth of 19 per cent and 17 per cent respectively, from N9.5 billion and N7.3 billion in 2022 to N11.3 billion and N8.6 billion in 2023,” he stated.
Also speaking, the company’s Managing Director/CEO, Mr. Moruf Apampa noted that the vast opportunities in the retail insurance segment remained untapped as the company steadily increased its footprint in the retail sector.
Jaiz Bank Donates Over N100m to Borno Flood Victims
Nume Ekeghe
Jaiz Bank, Nigeria’s a noninterest bank, has donated at least N110 million to support victims of the recent flood disaster that wreaked havoc on Maiduguri and its environs in Borno State.
The Board Chairman of Jaiz Bank, Mohammed Mustapha Bintube, who led the Bank’s Board team to Maiduguri, Borno State, donated N100 million, N50m in cash and N50m in kind
to the flood victims through the Executive Governor, Prof. Babagana Umara Zulum, at the Government House.
In a statement announcing this, Bintube said:“We have seen what has happened, we have heard it and we feel it. So, we have come with a modest contribution to the tune of 100 Million Naira”. Bintube, further informed the governor that Jaiz Bank staff had also volunteered to give some part of their September salary
to support the flood victims.
Receiving the donation on behalf of the victims, Governor Zulum lauded the Jaiz Bank team saying the kind gesture was a show compassion and love for the people of Borno State.
The statement further noted that, the Jaiz Bank Board team proceeded to the palace of the Shehu of Borno, Alhaji Abubakar Ibn Umar Garba Al Amin ElKanemi, and made a donation of N10 million.
(Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria),
L-R: Former Permanent Secretary, Lagos State Ministry of Arts, Culture and Tourism, Princess Adenike Adedoyin; President, The Royal Chiefs Association of Ghana, Okatakyie Nana Anim; Convener, Akwaaba African Travel Market, Ikechi Uko; Director, Lagos State Ministry of Arts, Culture and Tourism, Idowu Johnson; Director General, National Institute for Hospitality and Tourism, Dr. Munzali Dantata and others at the 20th Akwaaba African Travel Market at Victoria Island, Lagos...recently.
Amid interest rate hike by Central Bank of Nigeria (CBN) to 27.25 per cent at the last week’s Monetary Policy Committee (MPC) meeting, the Nigerian equities market gained N121 billion Week-on-Week (WoW) to close at N56.578 trillion.
Investors’ positive sentiment dominated three out of the five trading sessions, to drive 0.21 per cent WoW gain in Nigerian Exchange Limited All-Share
Index (NGX ASI) to 98,458.68 basis points.
The MPC of the CBN after a two-day meeting voted to increase interest rate to 27.25 per cent, retain the Asymmetric corridor around the MPR at +500/-100basis points, raise the Cash Reserve Ratio (CRR) of commercial banks by 500basis points to 50 per cent and Merchant Banks by 200basis points to 16 per cent and retain the Liquidity Ratio at 30 per cent. However, the sectoral perfor-
mance for the week was varied.
The NGX Oil & Gas index advanced 3.3 per cent Week-onWeek (W-o-W). The Banking and Insurance indices recorded a weekly gain of 2.5 per cent and 1.4 per cent respectively.
On the flipside, the Consumer Goods index 0.1 per cent for week, while NGX Industrial Goods index posted a weekly decline of 0.04 per cent.
The market breadth for the week was positive as 45 stocks appreciated in price, 33 equities
depreciated in price, while 73 stocks remained unchanged. Ellah Lakes led the gainers table by 59.74 per cent to close at N4.92, per share. Regency Assurance followed with a gain of 53.33 per cent to close at 69 kobo, while Flour Mills Nigeria went up by 22.89 per cent to close to N62.00, per share.
On the other side, Caverton Offshore Support Group led the decliners table by 27.37 per cent to close at N2.68, per share. Multiverse Mining and
Exploration followed with a loss of 19.64 per cent to close at N9.00, while Okomu Oil declined by 13.10 per cent to close at N363.00, per share.
Overall, a total turnover of 3.318 billion shares worth N45.911 billion in 49,243 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.860 billion shares valued at N38.445 billion that exchanged hands prior week in 40,228 deals. The Financial Services
Industry (measured by volume) led the activity chart with 1.430 billion shares valued at N23.659 billion traded in 22,745 deals; contributing 43.09 per cent and 51.53 per cent to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 703.389 million shares worth N7.323 billion in 6,207 deals, while the Healthcare Industry traded a turnover of 411.489 million shares worth N2.896 billion in 827 deals.
BUSINESS SPECIAL
Strengthening Deposit Insurance to Protect Customers
Amid new challenges posed by global and domestic headwinds in the financial services sector, James Emejo writes on the need for effective deposit insurance system to further safeguard depositors
There is no gainsaying that deposit insurance remains a cornerstone of financial stability, particularly in times of economic hardship as currently witnessed in the country.
It remains a crucial role in maintaining public confidence in the financial system during challenging times such as economic crises, banking instability or global financial headwinds. The concept of deposit insurance refers to the protection offered to depositors by a government agency or regulatory body, ensuring that even if a bank collapses, depositors are guaranteed to get back at least a portion, if not all, of their funds, up to a certain limit.
By protecting depositors, deposit insurance fosters confidence in the banking system, helps prevent bank runs, and ensures that the economy can continue to function smoothly, even when financial markets are under stress.
However, balancing the provision of insurance with sound risk management in banks has become critical to prevent moral hazard and ensure long-term stability.
ASSESSING THREATS TO FINANCIAL STABILITY
Notably, recent developments including foreign exchange crisis in Nigeria, currency devaluation and Naira floating amid other harsh operating environment had impacted the viability of banks and other financial institutions, leading to questions of whether they can continue to operate profitably as well as safety of deposits in their custody.
Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr. Hassan Bello, recently reaffirmed the commission’s mandate over three decades ago to protect depositors, especially the most vulnerable, and to contribute to the stability of the financial system.
The corporation had been commended for living up to expectations on its primary mandate over the years. According to him, the NDIC core mandate was to offer deposit insurance cover to depositors of licensed banks, supervising insured financial institutions, resolving distressed banks, and ensuring orderly resolution in the event of bank failure.
Bello stressed that confidence remained key factor in the maintenance of financial system stability, pointing out that the role of deposit insurance cannot be overemphasised, adding that as one of the safety-nets, it reassures depositors, thereby instilling trust in the banking system and prevents bank runs during times of uncertainty.
Speaking recently at 2024 NDIC Business Editors and Finance Correspondents Seminar with the theme, “Strengthening Nigeria’s Financial Safety-Net - The Role of Deposit Insurance,”in Lagos, the NDIC boss noted that over the years, the corporation had been instrumental in promoting stability by ensuring that whenever banks fail, depositors are protected, and their funds are reimbursed promptly.
He said NDIC remained dedicated to safeguarding depositors’ funds from the adverse effects of bank failure and complementing the CBN in effectively supervising insured deposit- taking financial institutions in formulating sound banking policies.
According to him, “The recent closure of Heritage Bank, following the revocation of its license by the CBN on June 3, 2024, underscores the NDIC’s critical role in safeguarding depositors. Acting in accordance with the relevant provisions
of the Banks and Other Financial Institutions Act (BOFIA) 2020 and the NDIC Act 2023, the NDIC was appointed liquidator to manage the orderly resolution of the bank and oversee the payment of its depositors and other claimants.
“In the discharge of this critical role of depositor reimbursement, the corporation began the payment of the insured deposits of N5 million maximum per depositor within a record time of four days of the bank’s closure. This was achieved using Bank Verification Numbers (BVN) as a unique identifier to locate depositors’ alternate accounts in other banks without the need to fill forms or visits the NDIC offices.
“This innovative approach has indeed, enabled the payment of 84.98 per cent of depositors with BVN linked accounts to date. The prompt payment of depositors, coming at a time when the corporation had also recently increased the deposit insurance coverage from N500,000 to N5 million in Deposit Money Banks, significantly cushioned the negative impact of bank failure, especially during the current challenging economic climate. This achievement is consistent with the provisions of the International Association of Deposit Insurers (IADI) Core Principle 15, which emphasises timely payouts to depositors of failed bank.”
Bello noted that having largely reimbursed depositors their insured deposits, the corporation remained committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits.
He pointed out that these uninsured deposits represented a significant portion of the total deposits in Heritage Bank, stressing that the corporation was already
working assiduously to ensure that, all depositors with amounts in excess of the maximum insured amount of N5 million are paid through liquidation dividends from the realisation of the defunct bank’s assets and recovery of debts.
He said: “The corporation has already initiated the process of debt recovery and realisation of investments and physical assets of the defunct bank to ensure timely payment of the uninsured deposits of the defunct bank.
“Additionally, the NDIC’s responsibilities extend to the creditors of the defunct bank, who will receive payments after all depositors have been fully reimbursed. This orderly process, based on asset realisation and priority of claims, is essential in maintaining public trust in the banking system and promoting financial stability.
“The handling of the Heritage Bank liquidation illustrates the broader role of the NDIC in ensuring that even in times of financial disruption, depositors can be rest assured that their funds are protected.”
The NDIC chief executive further emphasised the critical role of the media and civil society groups, alongside corporate affairs managers of banks, in advocating for the effective implementation of the deposit insurance system.
Among other things, deposit insurance is particularly crucial because during a banking crisis, deposit insurance prevents panic and bank runs, and minimises systemic risk by reassuring the public that their savings are protected, maintaining liquidity in the banking system.
It stands as safety net for individuals and small businesses given that in times
of financial uncertainty, the protection encourages people to keep their money in banks rather than hoarding cash, which could otherwise weaken the economy.
Also, in her paper presentation on “Effective Bank Closure: the NDIC’s Experience and Current Innovations,” the corporation’s Deputy Director, Enugu Zonal Office, Pamela Roberts, said corporation had been able to make concerted efforts to ensure effective bank closure and prompt payment to depositors.
She, however, clarified that the issue of prompt payment was not the function of the corporation alone as depositor apathy had been a major impediment to successful failure resolution in the country.
Pamela pointed out that current innovations of the NDIC could be complemented by the active response of the depositors who should come forward to make their claims.
Essentially, she noted that banks play a crucial role in the development of the economy of any nation, ensuring that excess and idle resources are channeled to growth sectors of the economy by mopping up idle funds from the firms and households for lending to all sectors of the economy.
Banks further facilitate an effective payment system, thus, well capitalised and efficient banks are a prerequisite for a nation’s growth and development.
According to her, “The fiduciary nature of banking business exposes banks to the risk of failure with attendant consequences capable of undermining public confidence in the banking system and adversely affecting the economy. Deposit insurance forms part of the safety-net that works to ensure the stability of the nation’s financial system through depositor protection scheme and failure resolution mechanisms.
“In fulfilling its mandate of protecting depositors and ensuring financial system stability, the Nigeria Deposit Insurance Corporation (NDIC) with the Central Bank of Nigeria (CBN) had resolved several bank failures through many resolution options.
“It commenced the liquidation of failed deposit money banks (DMBs) in 1994 with the closure of four banks. Over the years, several banks have been closed either singly or in multiples depending on the prevailing circumstance.”
ENHANCED DEPOSIT COVERAGE
In the same vein, NDIC Director, Research Department, Mr. Kabir Katata, while presenting his paper on “Insurance Coverage: The Past, Present & Future,” disclosed that on average, 95 per cent of accounts are fully covered.
He said based on global best practices and after careful consideration of its funding sources, the NDIC had established maximum coverage levels.
He said: “For the DMBs, the MDIC of N5,000,000, implies that 98.98 per cent of total number of depositors were fully covered with the corresponding 25.37 per cent of value of total deposits.
“For the MFBs, the MDIC of N2,000,000, implies that 99.27 per cent of total number of depositors were fully covered with corresponding 34.43 per cent of value of total deposits, based on end-June 2023 data.
“For the PMBs, the MDIC of N2,000,000 implying that 99.34 per cent of total number of depositors were fully covered with corresponding 21.04 per cent of value of total deposits, based on end-June 2023 data.
“For the PSBs, the MDIC of N2,000,000 implies that 99.99 per cent of total number of depositors were fully covered with corresponding 42.7 per cent of value of total deposits, based on end-June 2023 data.”
Bello
Stanbic IBTC, LBS Collaborate to Foster Sustainable ESG Financing in Emerging Markets
IFC: Climate
Dike Onwuamaeze
finance investment can create 213 million jobs in Africa IBTC credit to sustainable finance hits
Stanbic IBTC and the Lagos Business School (LBS) are collaborating to widen the scope of sustainable financing for projects that could address the pressing Social and Environmental and Governance (ESG) issues in emerging markets like Nigeria.
This was disclosed at the weekend by that Group Chief Executive Officer of Stanbic
IBTC, Dr. Demola Sogunle, during the bank’s inaugural “Sustainable Finance Summit” with the theme “Sustainable Finance Opportunities in the Emerging Markets,” which he said is a collaborative effort between Stanbic IBTC and the LBS.
Sogunle said: “At the Stanbic IBTC, we believe that financial institutions play crucial role in driving sustainable development. Our commitment to sustainability
The Osun State Government over the weekend demanded over N60 billion from Thor Explorations UK and Segilola Resources Operating Ltd
Speaking at the weekend on behalf of Osun State Government, the Financial Consultant to the Office of Mining and Mineral Resources, Dr. Wale Bolorunduro, noted that since the operation operandi was purely commercial, it was Segilola Resources Operating Limited that carried out strategic annihilation of Osun State‘s interest in the ownership of the Tropical Mines Limited (TML) in 2016 and the eventual commercial transaction of Transformational Acquisition by Thor Explorations Limited (Thor) UK, without due financial considerations to Osun State.
He recalled that while other legacy co-shareholders of Tropical Mines Ltd got financial considerations for the Commercial Transaction, which includes Shares in Thor Explorations Ltd UK and other financial considerations; “Osun State got nothing, based on our review of the transaction, which commenced in early 2023.”
According to Bolorunduro, for the past twenty months, the company, Segilola has refused to honour its commitment to commence payments on the accrued financial considerations due to Osun State on the Transformational acquisition of Osun interest between 2016 and 2019.
"Even, when a tenor repayment
plan, payable over two years, was offered by the Osun State Governor to them to preserve the need to encourage the national and the state investment drives in the mining sector. "
The Consultant emphasised that:
"The efforts and demand of Osun state to realize our claims, which is over N60billion in monetary value and redeemable shares as financial considerations for acquiring Osun State’s interest in Tropical Mines Ltd have always been rebuffed by Segilola Operating Resources Ltd."
"At least four (4) meeting had been held with the Executive Governor, H.E Governor Adeleke and the CEO of SROL, Mr Segun Lawson in attendance and with promises made to commence payment. Only for the company to renege on its Promises and chose to go and misrepresent the state in Abuja, Ministry of Solid Minerals."
Also reacting to the ugly trend, Prof. Lukman Jimoda, the Special Adviser to the Governor on Mining and Mineral Resources to Osun State Government equally raised serious concerns about the operations of the Segilola Gold Project, managed by subsidiaries of Thor Explorations Ltd, a UK-based company listed on the Toronto Stock Exchange.
Jimoda emphasized that the Segilola project, despite its significant production since 2019, has resisted complying with extant laws like the Personal Income Tax Act (PITA) and the Company Income Tax Act (CITA) which govern tax levies.
is reflected in one of our recent initiatives “Sustainable Finance Framework.
“It is worthy to know that from the inception of this framework in October 2023 till date, over sustainable finance portfolio is currently at a level of N82 billion, representing nearly 5.0 per cent of the total loan portfolio of the bank. And that is significant.”
He said that another significant aspect was that they had already surpassed their 2025 budget when it comes to sustainable finance portfolio, since the budget for 2025 was set at N48 billion and N82 billion had been achieved.
According to him, the framework has guided investments in various sectors, including healthcare, education and renewable energy.
He stated that there were immense potential for sustainable finance to address pressing social and environmental issues in the emerging markets like Nigeria, which continued to grow and develop.
Sogunle, however, noted that as the challenges are real so are the opportunities for everybody.
“We strongly believe that that by working together, we can create a more sustainable future for Nigeria and Africa and actually for the world,” he said.
In his keynote address during the summit, the International Finance Corporation (IFC) Country Officer for Nigeria, Mr. Mohammed Aliyu, said that Africa was facing the most severe climate impact that could delete its Gross Domestic Product (GDP) anywhere from 2.25 per cent to 12 per cent if left unchecked.
Aliyu said: “We are witnessing first-hand the effects extreme weather events from devastating floods amongst others, which force approximately 26 million people into poverty each year globally.
“These impacts exacerbate existing vulnerabilities, particularly in infrastructure, both hard and soft. Despite this financing for climate resilient infrastructure in Africa remains inadequate.”
He, therefore, said that Africa required significant investment to meet infrastructure needs, particularly climate adaption and mitigation.
“As the world becomes more climate conscious, increasing concerns over climate change and Environmental, Social and Governance (ESG) criteria constrained the type of projects that development partners and the private sector fund.
“To mitigate this requires a delicate balance not just in Africa but globally to align the needs of
developing nations with climate and sustainability considerations,” he said.
According to him, designing a greening strategy in an African nation would require careful considerations of the unique political economic dynamics of the nation.
“A decarbonisation strategy for African nation requires navigating a complex political economic landscape shaped by socio-economic challenges, vested interests, weak institutions and pressing need for energy access and development,” Aliyu said.
He added that policy makers must carefully balance these considerations and ensure that climate actions are aligned with national development priorities while building public support and managing political resistance.
He, however, said that within these challenges lie unprecedented opportunities.
“The World Bank estimated that climate related industries in Africa represent a potential $780 billion investment opportunities.
This could lead to the creation of 213 million jobs while contributing to a reduction of over 4.0 billion tonnes of carbon emissions in developing countries.
“Therefore, for private and public stakeholders, effectively
addressing climate change is not only crucial for tackling poverty, unemployment and inequality but also for promoting shared prosperity across the continent,” he added.
Speaking in the same vein, the Dean, Lagos Business School, Prof. Chris Ogbochie, said that Africa is perceived to be synonymous with various developmental challenges across environmental, social and economic lives.
These challenges, according to Ogbochie, demand that the continent should prioritise investments that have potential for environmental and socio-economic value creation for the continent and its people.
He said: “No other sector and industry has this burden placed squarely on its shoulders like the financial service sector.
“And no other continent has this opportunity in abundance for sustainable finance investors to tap into like Africa. We have a long way to go. We have taken the first step. And I believe that we can go ahead and make the most of it.
“We believe this summit will deliver strong financial solutions that will enable a robust sustainable financial architecture for Nigeria and the continent at large.”
World Bank Undertakes Three Multimillion Dollar Projects in Niger State
Laleye Dipo in Minna
The World Bank is undertaking three multi-million-dollar projects in different parts of Niger State.
According to a statement by the Chief Press Secretary to Governor Mohammed Umaru Bago, Bologi Ibrahim, the projects are the Agro Climatic Resilience in Semi-Arid Landscapes (ACReSAL), the Nigeria for Women Project (NWP) and the Livestock Productivity and Resilience Support Project (L-PRES).
The statement which chronicles the projects was on the visitation of the World Bank team for the
inspection of the projects and courtesy visit on the governor.
Bologi Ibrahim in the statement did not state the cost of the projects but explained that the World Bank team was led by its Regional Director for West and Central Africa Mr. Chakib Jenane.
The statement quoted Governor Bago as vowing to provide all the needed support to development partners for the overall development of the state.
Bago, represented by the Secretary to the State Government, Alhaji Abubakar Usman, appreciated the World Bank for its continued efforts in
improving the lives of the citizenry through intervention projects before promising that the state government "is always ready to provide the needed support in achieving set objectives"
The governor according to the statement promised that the state government will not relent in ensuring that it provides an enabling and conducive environment for the smooth running of its activities and also pledged government's preparedness and determination to judiciously spend funds provided for projects by donor agencies.
Mr. Chakib Jenane in his
address appreciated the state government for the support given the organisation which has enabled it to achieve "set objectives" adding that "there is already an impressive and positive impact of the projects in Niger State which covers many aspects including the preservation of the environment, agro climatic resilience project and diversifying the economy through supporting the livestock sector."
Mr. Jenane specifically said that the introduction of the Nigeria for Women project is in recognition of the important roles being played by women in the economic development of any society.
L-R: Executive Director, Dangote Group, Mr Mansur Ahmed; Official, Africa Development Bank, Dr. Oyebode Oyetunde; former Deputy G Dr. Goodluck Jonathan; former Minister of Finance, Dr. Shamsuddeen Usman; Special Adviser to the President, Dr. Aliyu Modibo; and Chairman of Access Holdings, Mr. Aigboje Aig-Imoukhuede, at the launch of the book, ‘Public Policy and Agent Interests: Perspectives From the Emerging World’ edited and co-authored by Dr. Usman in Abuja…recently
LAGOS AGRINNOVATION HANGOUT AGENDA...
PDP’s Governorship Candidate Warns APC against Repeating Edo’s ‘Sham Election’ in Ondo
The governorship candidate of the Peoples’ Democratic Party (PDP), Hon. Agboola Alfred Ajayi, has warned that electoral perversities that were carried out in Edo State by the All Progressive Congress (APC) would not be attempted in Ondo State on November 16.
Ajayi gave this warning during the weekend in a speech he delivered during a media parley in Lagos to acquaint the press with the programmes that the PDP administration would put in place to rescue Ondo State from the eclipse it has undergone in the last agonising eight years under the APC government if he is elected to govern the state.
He said: “Let me sound this note
of warning that the shenanigans performed in Edo State by the APC should not be repeated in Ondo State.
“Ondo State people from North to Central and South Senatorial Districts will never allow this type of electoral robbery. The APC-led government should not take Ondo State people for granted.
“Our people will resist any threat, manipulation, official collusion and conspiracy that will foist the maladministration of Mr. Lucky Ayedatiwa on them.”
Ajayi reminded those who are planning to commit electoral fraud in Ondo State to think twice, saying that they should go back to the state’s recent history and learn from what happened in 1983.
He said: “Our people have put
the sad events behind them: the APC led administration should allow the sleeping dog to lie. A word is enough for the wise.
“It is in view of the above, that I have carefully (and in company of my team) thought out seven areas where I will intervene to curb these myriads of avoidable problems foisted on the “Sunshine State” in the last eight years.
“My vision is to transform Ondo State into a beacon of sustainable economic development, where modern infrastructure, efficient transportation, vibrant marine and blue economy, striving agriculture, robust industrialisation, quality education, affordable health care, comprehensive human development, adequate security, and other components of fundamental
objectives and direct principles of state policy as captured in the 1999 Constitution of the Federal Republic of Nigeria (as amended) will be strictly adhered to and fully implemented for the prosperity of our people.
“It is, therefore, my mission to harness the state human and material resources to actualise this vision and thereby rescue and redeem the people of the ‘Sunshine State’ from the shackles of poverty, oppression, deprivation and insecurity and set them on the path of sustainable development so that the sun will shine again in the state.”
His seven-point agenda for the transformation of the state, include security, agriculture, education, health and infrastructure, industry and marine economic development.
Tinubu Appoints Tegbe DG/Global Liaison for Nigeria-China Strategic Partnership
Deji Elumoye in Abuja
President Bola Tinubu has appointed Mr. Joseph Olasunkanmi Tegbe as director-general and global liaison for the Nigeria-China strategic partnership reached by the two countries during the President’s visit in early September.
In a release issued on Sunday by the Adviser to the President on Information and Strategy, Bayo Onanuga, Tegbe, a 1988 first-class civil engineering graduate from Obafemi Awolowo University, Ile-Ife, will report directly to the President.
The new appointee, who is a fellow of the Institute of Chartered Accountants of Nigeria (FCA) and a fellow of the Chartered Institute of Taxation of Nigeria, will immediately submit a strategic action plan to enable Nigeria to benefit from the agreements between the two countries in Beijing.
As the czar of the strategic
partnership, he will lead day-to-day operations, engage continuously with the Chinese counterparts, and ensure that all deliverables are met and synchronised with national development goals.
In the strategic plan, Tegbe will outline the specific deliverables, timelines, and key performance indicators for each area of cooperation and this will include priority projects, projected investments and expected socio-economic outcomes.
At the 2024 Forum on China-Africa Cooperation (FOCAC), President Xi Jinping pledged 360 billion yuan, or about $51 billion, in new financing to African nations in the next three years. He also pledged support for 30 infrastructure projects to boost connectivity across the continent and create one million jobs.
During his official visit before the FOCAC, President Tinubu also obtained a commitment from President Jinping to support Nigeria’s economic diversification plans, infrastructure
development, technology transfer, and job creation.
Nigeria and China, among others, agreed to collaborate on expanding Nigeria’s rail network, upgrading power distribution, and creating new industrial parks.
The two countries committed to establishing hospital alliances and collaborating on medical research. Under the agreement, Chinese healthcare professionals will be deployed to support Nigeria’s healthcare system.
China and Nigeria agreed to collaborate to advance education and talent development, focusing on vocational training, STEM education, and academic exchanges. Joint initiatives, such as establishing engineering technology academies and providing scholarships, will help equip Nigerian youth with skills needed in a modern workforce.
The two countries also planned to improve Nigeria’s agricultural practices
through knowledge sharing, technology transfer and investment in sustainable farming techniques.
Tegbe, who will ensure the actualisation of the agreements, is 58 years old and had about 35 years of experience in business strategy.
He was the senior partner and head of advisory services at KPMG in Africa, with a portfolio and responsibilities that included the Middle East.
Economic Hardship: Coalition Commends Warri's Empowerment Initiatives for Itsekiris
Sylvester Idowu in Warri
A coalition of Itsekiri pressure groups has thrown their support for series of empowerment initiatives by the Olu of Warri, Ogiame Atuwatse 111 to mitigate the economic hardship confronting his subjects.
It outlined the provision of resources to those in need, award of scholarships, fostering intellectual growth amongst the youths and offering of free essential healthcare services, as some of the strategies deployed by the monarch to mitigate the current economic hardship in
the country, as it affects Itsekiri people.
The coalition, comprising HOSTCOM Itsekiri Chapter; Children of Drivers and Fishermen Association (CODAFA); Itsekiri Youth for Good Governance; Itsekiri Interest Group; Itsekiri Historical
Front; National Association of Itsekiri Students; Iwere Mentorship Forum and Itsekiri Folefun Group, in a statement issued yesterday, said the leadership and vision of the Warri Monarch, have brought hope and empowerment to Itsekiri communities.
Others are rural development and environment as well as youth, sport, social, women development and civil service.
Ajayi declared that his primary objective for running for the office of the state governor is to guarantee the safety and welfare of the people.
He said: “Any political party that deviates from this avowed principle of governance will definitely get it wrong and become a liability on the people.
“The APC-led administration in Ondo State has, over the past eight years, foisted mal-administration and
poverty on the people of the state by reason of the incompetence, lack of foresight, corruption and lack of defined policy for good governance.” He, therefore, emphasised that the November 16 governorship election in the state is a call for serious consideration as this would determine, shape or mar the fortune of the state in the next four years. Ajayi also vowed that the Ondo State Oil Producing Area Development Commission (OSOPADEC) should be restored to its core mandate to meet the expectations of oil producing communities in the state.
World Tourism Day 2024: YABATECH Foster Sustainable Blue Economy
Funmi Ogundare
The Chairman of the Governing Council, Yaba College of Technology, Prof. Funsho Afolabi, weekend, stated the institution’s readiness towards promoting professionalism in tourism and fostering a sustainable blue economy, in line with the federal government's 'Renewed Hope Agenda'.
Afolabi made this known at the 2024 United Nations World Tourism Day celebration, held at the college's Tourism Village, Epe, in collaboration with the Nigerian Tourism Development Authority (NTDA) South West Zone, themed, 'Tourism and Peace'.
Prof. Afolabi who chaired the occasion stated, “By hosting this event, we have established a platform for intellectual discourse and engaging activities like exhibitions, cultural displays, parades, entertainment, and interactive sessions.
“These initiatives aim to foster the development of both theories and best practices that highlight the positive relationship between tourism and peace, supporting the federal government's Renewed Hope Agenda.”
He further stated that the World Tourism Organisation's renewed focus on 'Tourism and Peace', aligns with President Bola Tinubu's Renewed Hope Agenda. The college, particularly through its Department of Tourism Management Technology (TMT) at the Epe campus, is playing a key role in helping the President fulfill his mandate.
He explained the different types of tourism including; domestic (Internal), inbound (national), and outbound (international), saying that the college, through its collaboration with NTDA, has been a leading
institution in following the United Nations' guidelines on tourism statistics.
The Professor of Hospitality and Tourism noted that the Department of Tourism Management Technology is actively contributing to the United Nations World Tourism Organisation’s mission, using education to promote spiritual, relational, and emotional peace globally.
"Countries that embrace these three types of peace are often leaders in achieving sustainable tourism in its various dimensions," he said.
In his remarks, the Rector of Yaba College of Technology, Dr. Ibraheem Abdul, explained that World Tourism Day celebrates the beauty of the planet and the rich diversity of cultures.
He stressed the important role tourism plays in fostering understanding, peace, and international cooperation.
“Tourism is not just about visiting new places; it’s an opportunity to immerse in the traditions and stories of people from different walks of life, promoting connections, breaking barriers, and fostering global respect,” Dr. Abdul said.
He encouraged participants to reflect on the impact of their travel choices on the environment and the communities they visit, urging everyone to promote sustainable and responsible tourism.
He also highlighted the economic benefits of tourism, explaining that it creates jobs, boosts local economies, and fosters cultural exchange.
The Rector stressed the need for collaborative efforts to rebuild tourism in a way that emphasises resilience and sustainability. Moreover, he advocated for inclusivity in tourism, stating that everyone, regardless of background, should have the chance to explore and enjoy the world’s wonders.
Dike Onwuamaeze
L-R: Special Adviser to the Lagos State Governor on Agriculture and Food Systems, Dr. Oluwarotimi Fashola; Head of Small Medium Enterprise Unit, LSETF, Olufolake Ikumapayi; Lagos State Commissioner for Agriculture and Food Systems, Hon. Abisola Olusanya; Chief Operating Officer, Pricepally, Jummai Abalaka; Senior Special Assistant to the Lagos State Governor on Agriculture and Food Systems, Mr. Gbolabo Olaniwun, and Permanent Secretary, Agriculture and Food Systems, Mr. Emmanuel Fatai Audu, at the Lagos Agrinnovation Hangout Agenda 4.0 held in Lagos
PHOTO: SUNDAY ADIGUN
Tegbe
PREMIERE OF FARMER'S BRIDE...
Constitution Review: Senators United over Council Autonomy, Divided on State Police
South-east, South-south lawmakers push for additional states
Sunday Aborisade in Abuja
Members of the Senate Committee on Constitution Review, at the end of their two-day retreat on the amendments to the 1999 Constitution, in Kano State, weekend, unanimously agreed to include provisions for the full autonomy of local governments in the country's constitution.
However, the lawmakers expressed divergent views on the thorny issue of multi-level police.
Equally at the forum, senators from the South-east and South-south geopolitical zones advocated the creation of additional states.
The legislators bared their minds on the side-lines of the retreat, which was organised by the senate panel in collaboration with the Policy and Legal Advocacy Centre (PLAC).
The decision to save the third tier of government from total collapse followed the alleged abuse of its role by the state governors.
The decision was in line with the recent Supreme Court verdict and the pledge by Senate President Godswill Akpabio that the National Assembly would tinker with the constitution to legalise the council's full autonomy.
Senate Leader, Opeyemi Bamidele; a former Chief Whip of the red chamber, Ali Ndume; Chairman, Senate Committee on Finance, Sani Musa; Senators Abdulfatai Buhari, Osita Izunaso, and Ned Nwoko, in
their various submissions insisted that full autonomy for local governments was long overdue.
Bamidele stated that the current constitution placed the administration of local government in the hands of the state government, but the exigency of the current situation had made it necessary to make the third tier of government completely independent.
He said, “The independence or the autonomy of our local governments cannot be taken away. The debate is raging as to whether or not local government should be considered as a tier of government.
“Law is made for men and not men for law. Regardless of what is in our constitution, what is important is that certain realities have come to terms with us.
“So, if we're talking about local government autonomy, the way some of us have looked at it, in the senate and in the National Assembly, is that we need to complement what the Supreme Court has said.
“The Supreme Court didn't say anything that is not in our constitution. The Supreme court only gave it some further clarity.”
In his own submission, Izunaso said arguments about possibility of local government chairmen becoming too powerful to the extent of impeaching governors if granted full autonomy, did not hold water.
He stated, “When we started in
this country, local governments had full autonomy then and they were developing their areas. I believe in full autonomy of the local government.
“I am sure it is going to work. I don't believe that LGs autonomy would empower council chairmen to impeach the governors. The fear does not arise and I don't even believe in it.”
Buhari backed the position of the senate leader, but stated that the election of council chairmen and the councillors should be conducted by an independent body not constituted by state governments.
He said, “Local government autonomy could only be achieved if their elections are conducted by an independent body. If that is not done, states will continue to siphon their money, through threats, through blackmail.
“If I just put you there as local government chairman, as the governor, definitely you will be answerable to me, but if I am contesting my election, people's eyes will be on me and when I am able to perform, you can't force me to take the money to the governor.”
Musa stated that the process of restructuring had started with the Supreme Court verdict on local government autonomy.
He said, “When you are talking about restructuring, we should be able to give the local governments
FG HANDS OVER 64 CNG BUSES TO LABOUR, STUDENTS
no joints, meaning they are not welded at any joint or parts.
“So, they are intact. They are safe, and you would not expect to see any explosion happening. The safety of Nigerians and the buses were considered in the design and supply of these cylinders."
Project Director of the Presidential Initiative on CNG, Mr. Michael Oluwagbemi, provided updates on the initiative’s progress, including the establishment of over 125 CNG centres, $175 million investment in the past year, 37 conversion centres expected before the end of 2024, and supply of over 17,000 conversion kits.
Oluwagbemi said, “Since our founding exactly one year ago, when Mr. President announced the presidential CNG initiative, we’ve been able to move the nation forward. For one, Nigeria had seven conversion centres this
time last year. Today, we can boast of over 125.
“We’ve tracked over $175 million investment in the sector coming into mother stations. An additional 12 mother stations have been commissioned between last year and today.
“We’ve seen additional refuelling stations being invested in; about 75 of them are currently under construction, and the commissioning of about 12 already this year. We expect another 25 before the end of the year.”
Oluwagbemi said the PCNGi was creating jobs, as more technicians were being trained in vehicle conversion and maintenance.
He stated, “Jobs are being created. Just last year, we could boast of just less than 100 conversion technicians in Nigeria. Yesterday, I visited a workshop in
Lokogoma, where the gentleman spoke about training about 40 new technicians every week.
“NITT, NADDC, and all of these institutions are training every day.
“Beyond this, over 34,000 conversion kits have already been ordered, and we have more than half of that in our hands and are already being distributed. Conversion is taking place across Nigeria.
“Yesterday, 53 conversion centres in eight states were launched; we hope by next week, an additional two states will join the train, and slowly but surely, all 36 states of Nigeria and the FCT will have convention centres."
In their various speeches, Secretary-General and Chief Executive of TUC, Comrade Nuhu Toro; NANS president, Comrade Lucky Emonefe; and Head of International Desk, NLC,
the autonomous power to be able to run their administration from the grassroots level so that the impact of governance can reach the grassroots.”
Nwoko said local government autonomy was very critical, adding, “The local government has almost died, there is really nothing happening there, it is just a mere third tier of government.
“So any reforms that support what the Supreme Court had already done, it will help to reintroduce the ideals of having a local government.”
The senators were however divided on the issue of state police. Those in support said insecurity would be tacked effected with state police, while others said political opponents would be targeted by state governors.
Musa, who supported the idea, said, “When we are talking about state police, every state in this country is facing one insecurity or the other and I believe that if we look at the issue of state police, it good for us.”
However, Ndume said what the country needed was to increase the manpower of the police and improve their welfare for effective policing. He said state police would be abused by the governors.
Ndume stated, “Personally, I don't support state police. Right now, we have less than 400,000 police nationwide, and you are clamouring for creation of state police. Why don't
Comrade Uche Ekwe, commended Tinubu for the gesture. They called for more CNG buses to be made available to the public.
Toro thanked the president for implementing the N70,000 new national minimum wage.
''This move is a significant step in alleviating the economic burden of Nigerian workers,” he said.
Emonefe praised the government for its commitment to education and student welfare, citing the provision of a student loan scheme for higher education.
Ekwe stated that the benefits of the CNG buses would become more apparent once more buses were deployed across the country.
''If we get more buses, the effect will translate immediately to Nigerians. If people start entering these buses, they will publicise it in the public and their neighbourhood,'' he said.
you increase the number and Train, Equip, Arm and Motivate them, what I call TEAM?
“Also adopt the United Nations recommendation on policing. We are about 230 million Nigerians, and we have less than 400,000 police, less than 200,000 armed forces and all our security agencies and paramilitary are barely 1 million or more. We don't have army or police reserve and you are saying we should have a state police.
“So let's recruit more hands into the security agencies, train, equip, arm and motivate them because the number is grossly inadequate and not because there are no people interested in joining the police but provision is not made.
“When you say you want state police and you don't pay the civil servant even the minimum wage, where are you going to get the money to pay them?
“So the truth of the matter is, let's face the problem. Let's train, equip and arm them. It doesn't matter whether it is a federal or state police. Provide adequate security for the people.” Both Nwoko and Izunaso maintained that the creation of additional states in their geopolitical zones was long overdue.
Izunaso said, “The most important agenda the South East Caucus in the National Assembly has is to push for equity and justice.
“We need an additional state in the South-east so that we come to terms with other zones in the country that all have six each.”
Nwoko said, “The Anioma state creation, for me, is something that has to be done. If that is the only state that is created in this period, I will not be surprised. Agitation for Anioma state had been going on for almost 50 years, it is the oldest agitation for a state.”
Oshiomhole: Obaseki Has Burnt Bridges
Chuks Okocha in Abuja
Former governor of Edo State, Senator Adams Oshiomhole, said outgoing governor of the state, Godwin Obaseki, was a failure and there was nothing about his performance in eight years that indicated that Edo people would vote for the person that he endorsed as the next governor of the state.
Oshiomhole spoke in an interview with ARISE NEWS yesterday.
He said Obaseki had burned his bridges, as he had reportedly fought with the people who used to back him, resulting in his becoming a “lonely man” in politics.
Oshiomhole stated, “God knows that Obaseki misgoverned the state. He defrauded the people, he jailed innocent women, he did a lot of terrible things that any man who has the fear of God will not do to his own people, and he’s proud to say ‘I will crush, I will crush’.
“Every other minute, he will say ‘I am the chief security officer.’ In the process, he forgot that these powers belong to the people, the sovereignty belongs to the people. They delegate you, they entrust you, believing that you will do good to them.
“Instead, you used the power to threaten. You made promises you never kept. So, there was nothing.
And even the royal father, he was fighting him. He fought everybody, whether you looked for his trouble, didn’t look for his trouble.
“For Obaseki, crushing people was [for] him a way of life. So, we are very happy now that we have consigned him to the dustbin of political history. As a person, he is my friend, but as governor, he was a failure.
“That we defeated Obaseki and Asue Ighodalo should be quite predictable. There was nothing either in Obaseki's performance or Asue’s credentials that would have made them win the elections, and I said that before to this channel that Asue is not electable. Now what are the facts?”
Oshiomhole explained, "Obaseki is like the proverbial blind man, who in 2016, rode on my back as an outgoing governor. We crossed the river, and he didn’t allow his leg to touch the water, and so, he didn’t understand what it took to become a governor.
“In 2020, again, there were internal crisis in the APC, Obaseki again had the backing of some elements within the APC, and of course, the very Wike that he’s demonising now, Governor Wike, as he then was, left Port Harcourt to Benin, and the REC they were protesting against, that same REC was in Benin.
L-R: Nollywood Actor, Femi Branch; Nollywood Actress, Gbubemi Ejeye; Nollywood Actress, Mercy Aigbe; Nollywood Actress, Efe Irele; and Nollywood Actor, Tobi Bakre all casts at the premiere of the movie Farmers Bride held in Lagos …. yesterday
PHOTO SUNDAY ADIGUN
BEAUTY IN THE MOTHER LAND CONFERENCE...
Rivers is Nobody's Enterprise, Fubara Replies Wike, Says He Remains PDP Leader
Blessing Ibunge in Port Harcourt
The feud between the Rivers State governor, Siminalayi Fubara, and his estranged godfather, Minister of the Federal Capital Territory (FCT), Nyesom Wike, degenerated further at the weekend, as Fubara told Wike the state was nobody’s enterprise.
Wike had during a civic reception organised for him by a group, Rivers Ijaw Peoples Congress, in Port Harcourt mocked Fubara for supporting Action Peoples Party (APP), which he described as a lesser party to PDP.
Wike, the immediate past governor of the state, claimed that he determined how the PDP structure worked in the state. He also said all the ongoing projects in the state were initiated by him. But in his response, Fubara stated that those antagonising his administration were merely expressing frustration at seeing how firmly the affairs of the state had been conducted, and the milestones achieved.
Fubara made the assertion yesterday at an inter-denominational church thanksgiving service
organised as part of activities marking the 64th independence day celebration of Nigeria at St. Paul’s Cathedral of the Anglican Church, in Port Harcourt.
HE SAID, "With due respect my Dean, when you said our national anthem was changed, for me, I like this new one, more especially where it says – a nation built, where no man is oppressed – it is so unique.
"If that is where I stand, you should understand, I can't be a party to oppressing anybody. And for the fact that I can't be a party to oppress anybody, by the special
grace of God, nobody can oppress me. Please, we need to join hands together to sustain and develop our state.
"So, don't be scared of anything, we have gone past the most difficult stage. That is the truth, we have gone past it. A few of our decisions might not be favourable but we have to move on as a family.
"Because at this time, what is important is to protect the soul of this state. It does not belong to anyone. Rivers State is nobody's enterprise. So, you have to stand strong and fight."
Edo Govt, Shaibu's Camp Disagree over Alleged Forceful Plot to Invade Govt House
Emenyonu
The Edo State Government, yesterday, alleged that Philip Shaibu has perfected plans to invade the Edo State Government House today to enforce his reinstatement.
The state government stated that a stay of execution appeal has been filed challenging Justice J. K. Omotosho earlier ruling of the case.
In a statement, the Special Adviser to the Edo State Government, Crusoe Osagie, called on the Inspector General of Police and all wellmeaning Nigerians to prevail on Shaibu to refrain from his devious plot as it is a clear recipe for chaos, given the fact that a policeman was killed the last time he attempted such action.
“We want to draw the attention of the Inspector General of Police to the intelligence we have gathered regarding a planned move by the erstwhile Deputy Governor, Comrade Philip Shaibu, to forcefully enter the Edo State Government House to purportedly enforce the ruling of Justice J. K. Omotosho.
“The stay of execution is still pending at the court of appeal and we appeal to the Inspector General of Police to ensure that the state does not descend to anarchy because of the ambition of one man.
"The last time Shaibu attempted to do this, it led to the death of a police officer. We believe that is one death too many and it is only wise for us to prevent a repeat of such.”
Osagie added that the government lawyers have written
to the IGP and other stakeholders, highlighting the fact that “all actions relating to the enforcement and/ or execution of the judgement of Honourable Justice J. K. Omotosho in suit No. FHC/ABJ/CS/478/2024 be stayed pending the hearing and determination of the Motion for Stay of Execution/Injunction Pending Appeal so as not to foist a situation of helplessness on the Court of Appeal and render the Order nugatory in the case that the application is granted.”
He added that the appeal case raised special circumstances and substantial arguable grounds in respect of which the court ought to grant the application as this would ensure that the plantiff/ respondent (Shaibu) did nothing to cause a breach of the peace or
break down of law and order in Benin City and Edo State.
However, Shaibu's Chief Press Secretary, Musa Ebomhiana, in a statement, said there was no iota of truth in the government statement.
He noted that the state government should come to terms with the fact that the election has been lost and won, describing the allegation has cheap blackmail and propaganda.
"There is no iota of truth in it please. They should know that the election has been lost and won. This is cheap blackmail cum propaganda," he said.
Also, reacting to the allegation, Shaibu's lawyer and a former Commissioner under the current state government, Andrew Emwanta said, "This is balderdash."
The governor accused his political enemies of being determined to lay hold on the soul of Rivers State to control it as their personal estate. He insisted that his administration had taken charge of the state already to secure, saying it is commonly owned by all Rivers people. In order to correct what he described as wrong narrative peddled in some quarters, Fubara explained that he signed the contractual sum of N200 billion loan papers from Zenith Bank to fund the construction of the 50.15-kilometer dual carriageway Port Harcourt Ring Road, a project started by his administration.
He also stated that his administration was embarking on the construction of the actual Trans-Kalabari Road project worth N225.1billion, plus the General Hospitals, together with the Psychiatric Hospital in Obio/ Akpor Local Government Area, among others.
The governor added that the
projects were being funded without borrowing.
He said, "They even say, they don't know what we are doing. Let me remind them, it is Fubara that signed the paper to borrow from Zenith Bank the N200 billion for the construction of the Port Harcourt Ring Road. So, it is my project.
"It is Fubara that awarded the Trans-Kalabari Road that they couldn't do. They did only a bridge from Krakrama, but I am the one doing it: the complete span, and it is N225billion. I didn't borrow.
"It is this same Fubara that is building a General Hospital, which I also included a Psychiatric Hospital because they will need it very soon. So, tell them that what I did in one year is what they did in eight years.
"It is only empty container that makes noise. If God has given you opportunity, eat your plantain and keep quiet. God will continue to give us the strength to do the best for our people, without fear."
Army to Build Youths’ Capacity to Accelerate Economic Growth
Linus Aleke in Abuja
The Nigerian Army yesterday vowed to continue to build the capacity of the youth through provision of quality educational infrastructure to enable them compete with their peers globally and contribute to the security and socio-economic development of Nigeria.
Communications Maj Gen Sani Bashir expressed appreciation to the COAS for the renovation of the project, stating “an overreaching need to provide conducive learning environment for our youth who are leaders of tomorrow”.
Linus Aleke in Abuja
Former first lady, Dame Patience Jonathan, and Chief of Defence Staff (CDS), Gen Christopher Musa, have expressed sadness over the demise of Akwa Ibom State first lady, Pastor Patience Umo Eno.
A statement by Mrs Jonathan's Chief Press Secretary, Godwin Mbachu Commiserated with the family, governor, government and people of Akwa Ibom state.
committed to the service of God and humanity, and that through her pet project, "the Golden Initiative For All", impacted on countless lives. According to her, "I am saddened by the news of sudden death of the wife of the Akwa Ibom state governor, Mrs, Patience Umo Eno. She will surely be missed by all. I pray that the Almighty God grants her soul eternal rest and the bereaved family the fortitude to bear the loss."
of Akwa Ibom State, Bassey Eno, and the entire Akwa Ibom people over the sudden passing away of his wife.
A statement by Acting Director Defence Information, Brig Gen Tukur Gusau, stated that the news of the sad event came to the military like a shock wave.
She described the late Mrs. Eno as a devoted Minister of God and woman of virtue, who was
On his part, the Chief of Defence Staff (CDS), Gen Christopher Musa, on behalf of the Armed Forces of Nigeria, condoled with Governor
Patience Eno
a trusted and dependable ally to you," he said.
The CDS said she would be fondly remembered for her efforts in enhancing the lives of the people of Akwa Ibom State particularly children, youths and vulnerable persons through her pet project, 'Golden Initiative for All (GIFA).
Noting that painful as her sudden and unexpected death might be, Musa urged the governor to take solace in the lucid fact that as mortal beings, who must one day leave this other side of the sun, we have hope beyond here. Ex-First Lady, Patience Jonathan, CDS, Mourn Akwa Ibom First Lady,
"Surely, a big vacuum has been created in your family and the state considering the indispensable and invaluable roles she had played, most especially since the assumption of your administration. Patience Umo Eno, was not just a wife but
Nigerian Army reiterated this vow while commissioning a block of classrooms and administrative offices at Ahmad Datti Government Secondary School in Gwale Local Government Area of Kano state.
A statement by the Nigerian Army, said the Chief of Army Staff (COAS), Lt Gen Taoreed Lagbaja, emphasised the project's goal of "enhancing students' learning experience and fostering Army community harmony".
This was as troops in the Niger Delta areas nabbed eleven suspects, discovered and deactivated over 20 illegal bunkering sanctuaries and 22 boats used for the criminality in the area.
Lagbaja who was represented by the Chief of Civil Military Affairs Maj Gen Nosakhare Ugbo said the aim of the project was to provide conducive learning environment for Nigerian youths.
The Chief of Defence
He further said that he hoped that the infrastructure would serve as an impetus for the teachers and stimulate the interest of the students to develop their intellectual capacity for national development.
The Governor of Kano State, Abba Yusuf, represented by the Chief of Staff, Alhaji Shehu Sagagi said the project has shown an exemplary and outstanding clarion call of the COAS.
“We can build the future we all dream of in assessing qualitative education while also securing the territorial integrity,” he stated. He also appreciated the kindness of the contractors, noting that educational development is not a sole responsibility of the government but rather a collective effort.
Meanwhile, the Nigerian Army said that troops of 6 Division in conjunction with other security agencies have sustained the crackdown posture against illegal oil bunkering and associated crimes in the Niger Delta Region.
Adibe
in Benin City
L -R; Chief Executive Officer, Nectar Beauty Hub, Beatrice Eneh; Mrs. Lanre Da Silva Ajayi; Chief Executive Officer, Barazahi Spa, Linda Edozien; Hon Commissioner for Tourism, Arts and Culture, Lagos State, Mrs. Toke Benson-Awoyinka; CEO Hilary Says, Hilary Rodriguez; and CEO Edith Essentials, Lillian Unachukwu at a Press Conference on the forthcoming Beauty in Motherland Party and Award Night held in Lagos… yesterday
FAREWELL PARTY...
Court Orders RSIEC to Use 2023 Voters Register to Conduct LG Elections in Rivers
Says three months’ timeline sacrosanct
government councils.
A Rivers State High Court sitting in Port Harcourt has ordered the Rivers State Independent Electoral Commission (RSIEC) to conduct elections on October 5 into the 23 local government councils in the state using the 2023 voter register.
The court, presided over by Justice I. P. C. Igwe, gave the order in its judgement in suit no. PHC/2696/CS/2024, between the Action Peoples Party (APP), as claimant, and RSIEC, Rivers State Government and Governor of Rivers State, as defendants.
The certified true copy of the judgement said the court ordered, “That upon the construction of Section 7 subsection 1 of the Constitution of the Federal Republic of Nigeria (CFRN) 1999 as amended, the second and third defendants are bound to make provision for election into the local government councils of Rivers State and to ensure that the affairs of the local government councils in Rivers State are conducted by democratically elected local
"That in view of Section 7 subsection 1, Constitution of the Federal Republic of Nigeria (CFRN) 1999 AS AMENDED, Section 5 (A) of the Rivers State Independent Electoral Commission Law - No 2 of 2018, the Decision of the Supreme Court of Nigeria Delivered on the 11th day of July, 2024 in Suit No SC/CV/343/2024:
“Attorney-General of Federation Vs Attorney-General of Abia State and 35 Ors and expiration of the tenure of the former democratically elected local government councils in Rivers State on the 17th day of June, 2024, the Defendants are bound to conduct Election into the Local Government Councils in Rivers State within the shortest possible time in order to comply with aforesaid Judgment of the Supreme Court of Nigeria.
"That it is further declared chat in view of Section 5 (a) of the Rivers State Independent Electoral Commission Law No 2 of 2018, Section 9(1)(a) (4) to (6) of the Electoral Act, 2022 and the exigencies of the decision of the Supreme Court
of Nigeria delivered on the 11th day of July, 2024 in Suit No SC/ CV/343/2024:
“Attorney-General of the Federation VS Attorney-General of Abia State & 35 Ors, the 1st Defendant is entitled to utilise the National Register of Voters for the 2023 general elections compiled by the Independent National Electoral Commission (INEC) pursuant to Section 9(1)(a) (4) to (6) of the Electoral Act, 2022, already in custody of the first Defendant to conduct election into the 23 local government councils of Rivers State.
"That it is also declared that in view of the decision of the Federal Government of Nigeria following the said judgement in Suit No SC/CV/343/2024
Delivered on the 11th day of July, 2024 to the effect that all states without democratically elected local government councils in place should conduct elections into their respective local government councils within three (3) months from the date of the aforesaid judgement of the Supreme Court of Nigeria.
“The defendants are bound to conduct elections into local
government councils in Rivers State on or before the expiration of the said three (3) months period, on the 5th day of October, 2024 and to take all necessary steps towards the conduct of the said election, including sale of forms to candidates and their parties including the claimant who is interested in sponsoring candidates for offices in the local government councils."
The court also directed that an order of mandatory injunction be issued compelling the second and third defendants by themselves, or by their agents, privies, servants or representatives and proxies to make adequate provision for election into the local government councils in Rivers State and ensure that the affairs of the councils were conducted by democratically elected local government councils.
Earlier, the Rivers State chapter of Peoples Democratic Party (PDP) announced its decision to boycott the October 5 local government election in the state.
PDP, led by the state chairman, Aaron Chukwuemeka, said the party neither made any arrangement to participate in the
MNJTF Foils Terrorists' Attack on Troops
Military airstrikes destroy terrorists' logistics base in Kaduna Ndume urges military to use private consultants to tackle insecurity
Ahmad Sorondinki in Kano and Linus Aleke in Abuja
The Multinational Joint Task Force (MNJTF), operating under Sector 3 deployed in Borno State, yesterday, said its troops successfully foiled an attempt by a band of Boko Haram terrorists to launch an attack along the Magumeri Maiduguri on troops' location in a swift and well-coordinated operation.
A statement by Chief Military Information Officer, HQ MNJTF N'djamena, Chad, Lt Col Olaniyi Osoba, said acting on credible intelligence, the troops executed a tactical ambush, neutralising the threat before the terrorists could wreak havoc on innocent civilians.
Osoba stated that the troops, having positioned themselves tactically along
the terrorists' path of movement, engaged them as they emerged from a forested area on motorcycles, using an alternative route.
He stated, "On sighting the troops, the terrorists attempted to flee but were met with a heavy barrage of gunfire. This decisive engagement forced them to abandon their weapons and motorcycles, disrupting their plan to unleash violence in the region.
"Following the intense firefight, the troops combed the area and recovered an arms cache, which included two AK-47 rifles, 51 rounds of 7.62mm Special ammunition, two magazines, 61 rounds of 7.62 NATO ammunition, and various contraband items, including marijuana, Tramadol, and a cigarette pack."
He said the swift action of the
MNJTF not only thwarted a potential attack but also reinforced the ongoing efforts to maintain peace and security in the Lake Chad region.
In a related development, the Nigerian Air Force under the aegis of Operation Whirl Punch, yesterday, destroyed a terrorist logistics base at Yadi Forest in Giwa Local Government Area of Kaduna State in continuation of its sustained intensive air operations against armed terrorists’ hideouts in state and its environs.
A statement by Deputy Director Public Relations and Information, Nigerian Air Force, Group Captain Kabiru Ali, said the operation was executed following credible intelligence reports, indicating huge presence of terrorists and their weapons cache in the Yadi Forest.
Ali stated, "Intensive intelligence, surveillance, and reconnaissance confirmed the consistent presence of terrorists and their motorcycles at the location. Additional intelligence revealed that the logistics base belonged to the notorious terrorist kingpin KADADE GURGU, a close ally of DOGO GIDE.
“Furthermore, available intelligence at the disposal of the NAF Air Component revealed that KADAGE GURGU has been providing shelter for notorious terrorist kingpins following the aggressive military operations in Sokoto and Zamfara State.
"Accordingly, the Air Component dispatched an aircraft, supported by an Intelligence, Surveillance and Reconnaissance (ISR) platform, to attack the target. The target area initially appeared uninhabited.
poll nor fielded any candidate for the exercise.
Chukwuemeka, who spoke at the PDP secretariat in Port Harcourt, said the party was waiting for the court verdict on the election in the case instituted by the All Progressives Congress (APC).
He urged members of the party to stay away from any activities connected with the election.
APC Insists Election Won’t Hold
Embattled Caretaker Committee Chairman of All Progressives Congress (APC) in Rivers State, Chief Tony Okocha, described the planned council
elections in the state as a charade. Okocha that the election would not hold.
Speaking with journalists at the APC secretariat in Port Harcourt, recently, Okocha said if the local government elections were allowed to hold, it would be an attempt to disrespect the court order that put on hold all activities in the councils pending the decision of the court on tenure of their leadership. He said there was no sign to indicate that the said election would hold in October, stressing that a Federal High Court presided by Justice Peter Lifu "has disbanded the INEC from releasing sensitive materials for the election. The court also restrained the police from involvement in the election."
Nigerian Constitution Empowers PSC to Oversight Police, Chairman, Argungu Says
Linus Aleke in Abuja
The Chairman Police Service Commission (PSC), DIG Hashimu Argungu rtd, yesterday, said the Constitution of Federal Republic of Nigeria (1999 as Amended), empowered the Commission to oversight the police in the areas of appointment, promotion, dismissal and disciplinary control and also grants her the power to initiate and implement policies for the effective running of the police as it relates to the functions covered in the law.
Argungu made this revelation, when he paid a surprise visit to the site of a proposed Police Service Commission Institute located at the serene City of Kabo in Kano State.
A statement by Head, Press and Public Relations, Ikechukwu Ani, said the Act establishing the Institute, when passed into law by the national assembly and when signed by Mr. President, was expected to provide an international training platform for staff of the Police Service Commission in its oversight responsibilities on the Police.
Speaking at the site of the Institute in Kabo, the Chairman said the oversight responsibilities
of the Commission was taking a new and positive momentum as the staff of the Commission would now have the opportunity to receive world class training in the different areas of oversight in line with established corporate governance template.
The Institute, he said, would be free of corruption and would also be of international standard.
"It will also be open to receive foreign trainees from across the world where there are institutions established to oversight the police," he said.
Argungu, who expressed happiness at the level of facilities already at the Institute commended the facilitator of the Bill and the Senate Committee Chairman on Police Affairs, Senator Abdulhamid Mallam Madori (Jigawa East) for his innovative and progressive disposition, stressing that the Institute would be Nigeria's gift to the world in the area of police oversight. He assured the committee that the commission would continue to support the efforts to see to the reality of the Institute, which he said would revolutionise police oversight in this part of the world.
Blessing Ibunge in Port Harcourt
L-R: Former Governor of Ogun State, Aremo Olusegun Osoba; Former Chairman, Odu'a lnvestment Company Limited, Dr. Segun Aina; Former GMD/CEO, Odu'a lnvestment Company Limited, Mr. Adewale Raji; his wife, Mrs Olamide Raji and Group Chairman of the Company, Otunba Bimbo Ashiru during the Farewell party for the duo, Aina and Raji after their retirement from the company at Airport Hotel on Saturday. PHOTO: ABIODUN AJALA
PROMOTING IMPACT ACCOUNTING…
L-R: Managing Partner, GLG Communications, Omawumi Ogbe; Global Leader and former Chairperson, First Bank of Nigeria, Ibukun Awosika; and Executive Coach and CEO of BMO Advisory, Bola Matel-Okoh, during an International Foundation for Valuing Impacts (IFVI) event held on the sidelines of United Nations General Assembly (UNGA) 2024 in New York…recently
ASUU: Tyrant Vice Chancellors are Victimising our Members
Onuminya Innocent in Sokoto
The Sokoto zone of the Academic Staff Union of Universities (ASUU) has voiced deep concerns over what it describes as the victimisation of lecturers by some university vice-chancellors (VCs) warning that this could disrupt the fragile peace in Nigeria’s higher education system. The Coordinator of the zone comprising the Usmanu Danfodiyo University (UDUS}, Umaru Musa Yar’Adua University (UMYU), Sokoto State University (SUU), Federal University Dutsinma (FUDMA), Federal University Birnin Kebbi (FUBK), Federal University Gusau (FUG), Kebbi
State University of Science and Technology Aliero (KSUSTA), Sokoto State University of Education (SSUE), and the Federal University of Agriculture Zuru (FUZ), Prof. Abubakar Sabo stated this while addressing a
press conference in Sokoto at the weekend.
ASUU’s frustration stems from the government’s failure to implement the Memorandum of Action (MoA) signed in 2022, after a long and painful strike.
ASUU accused certain VCs of acting like “tyrants,” working hand-in-hand with university governing councils to punish lecturers instead of addressing the core issues that led to the strike. These unresolved issues
include renegotiating the 2009 FGN/ASUU agreement, paying withheld salaries, and adopting the University Transparency and Accountability Solution (UTAS) as an alternative to the controversial IPPIS system.
Ogoni Women Lament Continuous Attacks by Herdsmen in Rivers
Blessing Ibunge in Port Harcourt
Madam Leka Erefori Nawa Maeba Dies at 94 Anti-Corruption
The late HRM Samson Maeba Royal House of Luwa Community in the Nyo-Khana District of Khana Local Government Area of Rivers State, has announced the death of their dearly beloved mother, Leka Erefori Nawa Meaba, at the ripe age of 94, 53 years after the demise of her husband.
According to a statement by Senator Lee Ledogo Meaba, on behalf of the family, until her demise, their mother was
a devout Christian of the Methodist Church of Nigeria (MCN), a philanthropist par excellence and a community leader.
The statement added that funeral obsequies are slated for November 30, at her country home in Luwa.
“While we expect your physical presence to join us as we pay our last respect to our beloved mother, please have us in your prayers in this trying moment,” they said.
Foundation Inaugurates First Health Radio Station to Promote Well-being
Funmi Ogundare
Phlox Health WASH Foundation at the weekend inaugurated Nigeria’s first health-focused radio station, WASH 94.9 FM, aimed at transforming health communication across the country. The station will provide a wide range of content designed to promote physical, mental, and spiritual well-being, as well as spread health education and empowering Nigerians to take control of their well-being.
Speaking at the ceremony in Lagos, the station’s Founder, Prof. Ronke Ogunmakin,
explained that the initiative stems from her lifelong passion for community service. With a background in radio and television production, as well as a career in communication, media, and broadcasting, Prof. Ogunmakin envisioned the station as a platform to make a significant impact on public health.
She explained that the concept of WASH 94.9 FM aligns with the United Nations’ Sustainable Development Goal (SDG) 3, which focuses on ensuring health and wellbeing for all. “Health is wealth, and without good health, life becomes meaningless.
Oyebanji: 2025 Budget ‘ll Focus on Agric Development
Gbenga Sodeinde in Ado Ekiti
Ekiti State Governor, Biodun Oyebanji, has restated his administration’s commitment to food security for residents of the state through various collaboration with investors in agribusiness and young farmers saying his target for 2025 is to record significant increase in production in the sector to feed the people.
Governor Oyebanji gave this indication while inspecting the Bring Youth Back into Agriculture Project farms in Oke Ako Ekiti, Iyemero Ekiti and Gede in the North senatorial districts last Saturday.
The governor, who was accompanied on the visit by some top government officials, disclosed that the state’s budget for 2025 would focus more on agriculture, in an effort to ensure food sufficiency and make Ekiti the food basket of the country.
While noting that his government’s deliberate investment in agriculture was already yielding the desired positive results, the governor said his government in the last two years, had prioritised investment in agriculture, boost capacity of farmers and create a market for farm produce as part of efforts to enhance food production and tackle food insecurity.
Women from Ogoni ethnic nationality in Rivers State have raised the alarm over continuous herdsmen’s attacks in their farms, calling on the Rivers State Government to intervene.
The women explained that herdsmen attack was becoming
Ibrahim Oyewale in Lokoja
incessant inside their farms in Luusue Sogho, Khana Local Government Area of Rivers State.
Speaking at the Ogoni Women Environment Assembly organised by Lokiaka Community Development Centre in Nortem, Bori, the women explained that the situation was now affecting food production as they were now scared of going to farms.
Keenam Erebura said they have carried out a protest to Bori Divisional Police Station on the matter, but the Police was not helpful as the herdsmen were allegedly asked to pay N30,000 after their cows had destroyed more than two hectares of cassava farm.
Another participant at the programme, Glory Basi, explained that herdsmen rape women in their farms, and also kill some farmers who resisted the cows from entering their farms.
Basi said: “The issue of herdsmen we are having in our community is so serious that we don’t know where to place our hands, we don’t know who to run to and where to start the matter from.
Group Carpets EFCC over Alleged Selective Justice, Witch-hunt
A group, Save Nigeria Coalition, a renowned anticorruption crusader, has berated the Economic and Financial Crimes Commission (EFCC) over its handling of the prosecution of former Kogi State Governor, Yahaya Bello. This was contained in a statement signed by the Director, Yahaya Bello Media Office, Michael Ohiare, and made available to journalists in Lokoja at weekend.
The group alleged that the EFCC’s actions are a “shameful outing and a media trial” that suggests a predetermined outcome.
Speaking at a press conference, Dr. Felicia Eneh Daniel, its country director, said the EFCC’s failure to detain Bello after he voluntarily presented himself for questioning raises questions about the agency’s intentions.
The Save Nigeria Coalition also slammed the EFCC for allegedly writing “barefaced lies and making irreconcilable blunders in its attempt to prosecute Bello.”
Protect N’Delta from Violent Actions, Otuaro Urges PAP Delegates
The Administrator of the Presidential Amnesty Programme(PAP), Dr Dennis Otuaro, has urged delegates of the PAP and youths of the Niger Delta to safeguard the prevailing peace in the region.
Otuaro advised them to realise that protecting the region from
violent actions and disruption of the peace would attract more businesses and increase economic growth in the area and Nigeria in general.
He stated this at the weekend while addressing leaders and members of the Phase One, Phase Two, Phase Three, and
other youths of the region at the expanded stakeholders’ meeting organised by PAP in Warri, Delta State.
Otuaro was quoted in a statement as describing the PAP delegates and Niger Delta youths as worthy partners for peace-building, development
and investment in the region.
“The PAP is your programme and you are all important partners in the peace process of the Niger Delta. As far as this programme is concerned, you are partners for peace, development, investment and economic growth in the Niger and Nigeria as a whole,” he said.
Lion Kills Handler at Obasanjo Library Wildlife Park
James Sowole in Abeokuta
A lion at the Olusegun Obasanjo Presidential Library(OOPL) Wildlife Park in Abeokuta, Ogun State, has killed its handler, Babaji Daule.
The incident occurred in the early hours of Saturday in the Ogun State capital.
It was further gathered that the lion attacked Daule, a 35-year-old from Bauchi State, at the Zoological Garden of the OOPL.
The incident, which was reported at about 7:40a.m by the Chief Security Officer of the OOPL, was said to have occurred when the trained handler of the male lion at the Zoological Garden “carelessly neglected to secure the locks and barricade the of lion’s enclosure before approaching the cage to feed the animal.
“This negligence allowed the lion to escape and attack him, resulting in fatal injuries to the handler’s neck and eventual death. “The victim’s body was removed and taken to the mortuary at the State Hospital, Ijaye, Abeokuta, while the wild lion was shot to release its grip on the handler.”
The spokesperson for the State command of the Nigeria Police, Omolola Odutola, confirmed the sad incident.
PCNGI Promotes CNG Adoption with Incentives, Infrastructure Expansion
The Presidential Compressed Natural Gas Initiative (PCNGI) has announced a series of events and activities planned for the week of Nigeria’s independence. These initiatives aim to increase the adoption of Compressed Natural Gas (CNG) as a cleaner, more
Yinka Kolawole in Osogbo
The General Overseer of Sufficient Grace and Truth International Ministries, Bishop Seun Adeoye, has praised the management of the newly established University of Ilesa (UNILESA), Osun State for
affordable alternative to fuel. According to a statement, to kick off the lineup of activities for the independence week, starting Friday, September 27, is the commencement of the CNG Transport Fare Drop Programme, which included the signing ceremony with National Union of Road Transport Workers (NURTW) covering the Abuja to Itakpe Station – Ajaokuta Train Station – Adavi to convert fleet vehicles to CNG in return for 30-40 per cent fare reduction. This programme will serve as an incentive to NURTW members in Abuja to convert their vehicles to CNG in exchange for a fare reduction.
On Saturday, September 28, 2024, the PCNGi continued its nationwide commercial incentive programme for commercial cars open day, expanding to 38 centres in Kaduna, Abuja; Lagos, Ogun, Oyo, Delta and Edo State.
making all its 18 education courses tuition fees free.
Besides, the cleric who is also the International Communication Director of Worldwide Anglican Church (WAC) in a statement yesterday in Okinni, Osun State lauded the managements of Bells University of Technology, Otta and Landmark University, OmuAran for offering fee free courses in their Agriculture programmes.
The statement read: “The announcement by UNILESA that all 18 programmes in Education will be offered free for prospective students from 100 level till graduation is a cheering news to all lovers of education.
“As matter of fact, I know that Bells University of Technology in Otta, Ogun State and Landmark University in Omu-Aran, Kwara State for some years now has been offering tuition fees free courses in Agriculture.
ASK CHINESE FOR FIFTEEN THINGS
economic base to underpin it, without a prosperous middle class that values democracy, without a long history of nationhood, with national public institutions steeped in self-service, and with both ruling and opposition political parties that do not know their ideological right from their left?
We need a Mao Zedong that we can deify. Instead of here where social media skits disparage leaders, a Chinese woman once wrote that right from when she was a year old, her parents took her every Saturday to the town’s square, where a huge portrait of Chairman Mao was hung on the wall. She was taught to wave at him and say, “Long live, the Great Helmsman!” Chairman Mao was so well known across the world that his biographer once wrote, “If the entire human race were assembled and Mao’s name is thrown at them, one quarter will bow with veneration; one quarter will grimace with hate; one quarter will receive the name with respect; and the last quarter, the most backward section of the human race, has never heard of him.” Let’s ask the Chinese how they did it.
We need a Marshal Zhu De, the great Commanderin-Chief of the Chinese People’s Liberation Army [PLA] from the 1930s until his death in 1976. With a commander like that, who is Boko Haram, ISWAP, bandit, kidnapper, rustler, IPOB, Yoruba Nation activist or pipeline vandal to terrorise our countryside? We also need a Kuomintang [KMT] to replace PDP as our main opposition party. When the Communists swept into Beijing in 1949 and seized power, KMT led by Marshal Chiang Kai-shek fled across the channel, snatched the small island of Taiwan and established a government there. When PDP was chased out of power in 2015, what did it do? Did it seize Bakassi or any small island in the Bight of Benin, instead of this internal bickering between Wike and Atiku factions?
CONTINUATION BUILDING CAPACITY TO SUPPORT SUSTAINABLE DEVT 2
in the State with suitable eco-friendly energy systems, tapping into the abundant renewable energy sources in our environment. It may also interest us to note that the State is presently developing a robust policy framework for off-grid energy solutions to support economic and social activities, especially in the rural areas.
Just recently, I appointed a climate expert to coordinate the State’s response to changes in climate conditions and support the drafting, adoption and implementation of policies designed to limit actions that threaten the natural environment across the boundaries of our State.
The message from our State is clear: while we are hungry for tangible fruits of development as it concerns our current status, we are also not ignorant of the damages that actions of the present generation can do to the ability of the environment to support future generations. This approach aligns with our long-held position that the most pragmatic development philosophy for those of us in the developing countries is one that tries to quicken the pace of development and then prepares us for the future because we cannot afford the misery of isolation. We must therefore keep our eyes on the ball at all times, focused on today’s challenges, and mindful of the demands of the future.
In Abia, we have also set new standards in empowering women politically by elevating them to senior positions at the decision-making table. In our State, we deliberately place women in key offices where they are given a free hand to drive major government decisions and achieve excellent results connected to the sustainable economic development agenda in education, finance, health, and general administration.
Creating awareness is the first order of business because leaders can only act within the limits of their individual knowledge. Through constant engagement with the various stakeholder groups across different levels of government, the organised private sector, and leaders of socio-cultural groups, the message has been sent that we must take deliberate steps to tackle many of the socio-economic and political challenges facing our land without hurting the capacity of the next generation to address the challenges they may face.
This point is consistently harped on during development strategy meetings, project flag-offs and at other platforms where stakeholders often meet. The great thing is that this initiative is not just for the Governor alone; everyone
the necessary skills, knowledge, and commitment to enact meaningful change. Anything less would jeopardise the nation's collective survival.
For many Nigerians, a cabinet reshuffle holds the potential for two distinct outcomes. On one hand, it could signal the end of an ineffective Executive Council that has failed to tackle the country's challenges, much like the underperforming cabinets of the past. On the other hand, it could herald the beginning of a new era, where the government finally prioritises reforms, implements policies to alleviate economic hardship, and rebuilds trust between the government and the people. While public expectations are high, there is also a lingering sense of scepticism. However, the potential for positive change is a beacon of hope in these uncertain times.
The current Federal Executive Council can be broadly divided into three groups. The first group consisted of ministers who were appointed out of political indebtedness. These individuals were chosen not for their competence but because the President owed political favours. As a result, their loyalty lies with the President, and they feel little obligation to serve the nation or its people. The second group consists of those who gained their positions through nepotism or the famed “Nigerian connection”. These individuals bring little value to governance and often lack the expertise needed to address the complexities of Nigeria's
The plan Mr. Tegbe should draw up must include a request from China for a Kong Qiu, the one Westerners call Confucius. It is not about confusion; we have enough of that here already. Although we have two great and many traditional religions in Nigeria, they have so far fallen short of instilling binding ethics of social discipline and order. Hence the need for Confucian-style ethics which, though non-religious and non-divine, nevertheless made Chinese society remarkably orderly, law-abiding and efficient. Please Mr. Tegbe, include in your plan a request for the Little Red Book, of Quotations from Chairman Mao. It covers nearly all subjects, and Chinese once held them with the reverence of Quranic and Biblical verses.
Look, we must ask for a blueprint of the Great Wall of China. I read in our primary school textbook that it is the only man-made structure visible from outer space. How did the Chinese build this wall 2,500 years ago, only 2,000 years after Egyptians finished building the Great Pyramids, while three-storey buildings built by our engineers here in Nigeria still collapse every now and then? Since 2000AD we have been building the Great Green Wall of trees across our far northern states to stop desert encroachment. After 24 years, is it visible even from the nearby Sahara Desert, not to mention from outer space?
Honestly, our leaders here can do with a Long March, when Mao and Marshal Zhu Deh led their Communist forces in 1934-36 to retreat 10,000 kilometers on foot into inner China, following attacks by Kuomintang forces. Instead of warming benches and going for years without sponsoring any motion or even tabling a resolution, all our National Assembly members, cabinet ministers and even heads of security agencies should undertake a Long March, on foot, from Seme border to Lake Chad, crossing rivers and ravines. They are even lucky we
connected to the Government understands what we want to achieve and knows what is expected of them in terms of leading by example and creating a new development paradigm across the State. Because we have consistently spread the message of sustainable development through various platforms, community leaders and business executives know exactly what to expect and the checklists to tick when initiating or executing various development projects. At the very minimum, new projects are required to create jobs in the local communities, use resources responsibly and do little or when possible, no environmental damage. In all project execution frameworks, measures for mitigating environmental damages must also be holistically identified through environmental impact assessments (EIAs) before approval is given.
Beyond awareness, project officers across all government agencies continue to receive structured technical support on our development priorities to improve their capacity. We have also implemented robust institutional and governance mechanisms to oversee and evaluate the progress of implementing our programmes and policies across relevant frontiers. Commissioners and Heads of Agencies are required to constantly measure their performances against key parameters designed and agreed upon by the relevant stakeholders, including leaders of the communities and clans. We are very particular about the impact of each programme on important development metrics such as job creation and poverty reduction, especially in rural communities.
As a government, our priorities are based on our core development objectives. Abia is presently not at the same level with some of the sub-national units in the developed economies, so it is prudent to be very strategic in the application of resources. Our immediate priorities revolve around tackling the menace of poverty and unemployment in the first instance. We are also keen to deploy resources and, where necessary, work with interested partners to improve access to quality healthcare services and education rapidly. The guiding philosophy is that when we have satisfactorily taken care of poverty, created jobs for our youth population, and provided quality education and healthcare to the people, we can then move a notch higher to effectively expand our scope of interest because development is about the sequence of steady progress.
socio-economic challenges. For instance, critics have pointed to appointing ministers without relevant experience in the ministries they oversee, leading to poor policy decisions and a lack of direction. The third group, unfortunately, the smallest, is composed of competent technocrats and politicians who have the capacity to deliver meaningful results. However, their influence is often overshadowed by the ineffectiveness of the other groups.
A cabinet dominated by individuals focused on short-term political gains rather than the public good has far-reaching implications for governance. Ministers prioritising personal or partisan agendas are unlikely to prioritise the nation's needs. Some argue that even the most capable ministers would struggle to make a difference in the current political, social, and economic environment. The primary function of policymaking has been sidelined, and this dysfunction has only fueled public discontent. The quality of the Federal Executive Council has significantly contributed to the country's broader dissatisfaction.
Many Nigerian commentators have expressed frustration with the government's inefficiency, attributing it mainly to the substandard quality of the cabinet. This inefficiency has also contributed to the normalisation of corruption in various sectors. Significant reforms in critical sectors have been noticeably absent, leading to widespread doubt as to whether the average Nigerian feels any positive impact
don’t have mighty rivers such as the Yangtse-kiang and Huang-Ho, only small streams called River Niger and River Benue.
Our next Three-year Rolling Plan should be modelled after the Great Leap Forward, such as the one China did from 1958. Instead of small tinkering with crude oil production figures, palliatives and poverty reduction programs, we should aim to raise food production five times, build ten times as many rail lines, upgrade Alau Dam into a Three Gorges Dam and build a nuclear bomb, lest the Middle East fighting spills over here.
Our strategic plan should also request the blueprint for the Great Proletarian Cultural Revolution of the 1960s. Our society sorely needs it. Communist youths called Red Guards stormed the houses of identified counter-revolutionaries, dragged some prominent leaders into the streets and made them to wash toilets; don’t we need the same treatment here for some people?
Soon after Mao died in 1976, Chinese Communist Party purged, then arrested, shamed and tried the Gang of Four, including Mao’s widow Jiang Jing and party top shots Wang Hong-wen, Yao Wen-Yuan and Zhang Chungqiao. They were all described at the time as “conspirators, counter revolutionaries, renegades and bourgeois class elements.” In Nigeria here, when we have a Gang of 100 that we can haul before revolutionary courts for anti-people activities over many decades, we are wasting time trying some people for “anti-party activity.”
We need the blueprint for a Deng Xiaoping. He must be so short that once, when he raised his hand in a Politburo meeting to oppose a measure proposed by Mao, the Chairman said, “Since I cannot see anybody raising his hand, my proposal is unanimously adopted.” Dwarfish Deng was, but he had giant visions; his The Four Modernisations program has transformed
We are working very hard to improve the capacity of our people to deliver on the core programmes tied to our outlined priorities. Periodically, Heads of Government Agencies are required to liaise with other stakeholders to identify how to realise maximum benefit out of every dime spent, cut down wasteful spending, and redirect resources to areas of optimal impact. We are very particular about robust stakeholder engagements and constant consultations because our experience has shown that the buy-in of these stakeholders is required to drive important initiatives as captured in the various elements of the general sustainable development framework. Through these engagement activities, including our quarterly budget review sessions, clear communications are made, and concerns are addressed holistically — in the presence and with the input of all stakeholders. Why do we involve the grassroots leaders in the conception and execution of our policies and programmes? Simple: it follows our whole-of-society philosophy and the need to guarantee that the peculiar realities of the various communities are adequately represented, seeing that no one is left behind.
The importance of setting clear priorities in pursuit of steady progress brings us to the imperative of creating a robust partnership framework to drive the execution of our development agenda. We are a government that treasures collaboration and partnerships across institutions and agencies on the one hand and between government and those in the private sector of the economy, on the other. We are also keen to expand the scope of our partnerships with international agencies and development partners. We regularly interface with organisations and groups that have shown interest and demonstrable capacity to work with us to achieve important milestones in our development agenda. We are open to grants, capacitybuilding programmes for our teachers, health workers, and farmers, as well as equipment and material support for our schools, hospitals, and registered local NGOs.
Abia is currently working with several local and international partners to reduce poverty and hunger through programmes and projects that empower our people to earn on their own through prudent use of our untapped local resources, including very fertile agricultural land and water bodies, large population which easily translates to steady market for food and agricultural commodities, and very strategic markets
from the actions of the Federal Executive Council. The government's credibility is increasingly being questioned, and many wonder whether any real progress can be made under the current leadership.
As the country eagerly anticipates the formation of a new Federal Executive Council, there are clear expectations. Nigerians are not just hoping for a change in personnel, but for a fundamental shift in governance priorities. The nation urgently needs ministers who are dedicated to solving its pressing problems, not advancing personal interests. The new cabinet must be transparent and accountable, addressing the concerns of a public that has grown weary of opaque leadership. Furthermore, competence must take precedence over party loyalty when selecting ministers. The country cannot afford appointments based on political allegiance; it needs individuals with the technical expertise to implement effective policies and follow through on their promises. Effective governance requires competent ministers, a clear vision and roadmap from the President, and accountability mechanisms to guarantee policies are efficiently executed. Our President must clearly define his mission: what kind of government does he want to run? Restorative, transformative or visionary? The President's vision and mission would provide the guardrail of how his ministers would be chosen and how they operate. The SGF and Chief of Staff will use that to set targets and milestones.
China from a poor rural agrarian state into the world’s manufacturing power house and a great center for technological innovation within three short decades. Our blueprint should include a Hong Kong and Macao. When the British snatched Hong Kong from imperial China in 1898 and forced China to lease it to them to them for 99 years, the Chinese kept quiet, only to regain it in 1997, after the Brits had built it into a shipping and financial power house. The same thing with the Portuguese who seized Macao. Here, instead of giving Bakassi to Cameroun under the so-called Greentree Agreement, we should have given it to China, Japan or India for 99 years and regained it afterwards. Even now we can call in Dubai to take over one of the Lake Chad tumbus islets recaptured from ISWAP and give them a 99-year lease, to turn it into a tech hub.
such as the famous Ariaria International Market. We said not long ago that we are not a hand-out driven population; our people are resilient and love to earn through enterprise, creative engagements and honest labour. What they need to soar is the right support and enabling environment that will spur them to take advantage of the abundant opportunities around us. This explains why we have remained strongly committed to rebuilding the State’s stock of physical infrastructure, especially roads and public institutions and improving the aesthetics of the environment to reflect the taste of the age.
The overall objective is to dismantle the many obstacles that have stood between our people and their true potential. I am happy to announce that while we are not exactly at the point where we can finally proclaim Uhuru, it is now beyond dispute that Abia is rising, and a new era of optimism has arrived. We shall remain open to support from interested partners because Abia is an important community that is exceptionally strategic to the future we all seek to create through the instrumentality of the sustainable development framework.
Achieving our integrated development objective requires new capacities on the part of those who will drive the core elements of the development framework, expanding their skillset to be able to respond to new realities and deal with age-old problems in a new and effective way. The emphasis is on processes and results. Public sector officials and other relevant stakeholders need the right exposure to understand the nuances of development through the years to be able to situate the superior proposition and suitability of the sustainable development framework for the new age. In Abia, we are consistently exposing our people to new knowledge areas because one of the most important appeals of the sustainable development framework is the fact that it is very practical and relevant to the needs of communities across various parts of the world, especially in Nigeria and Abia State in particular.
•Dr. Otti, OFR, is the Governor of Abia State. This concludes excerpts of his keynote speech at the International Conference on Human Rights, Sustainability and Climate Change (ICHRSCC) which took place at the University of Buckingham on Friday, September 20, 2024
The President’s mission is required to define the roles of ministers and their mode of operation.
Economic growth and job creation must become central priorities. In 2024, youth unemployment was estimated at over 42%, leaving millions of young Nigerians without meaningful opportunities. This unemployment crisis, combined with a lack of public services, continues to drive young Nigerians toward dangerous migration routes in search of better lives abroad. There is little meaningful discussion on these crucial issues, as the focus remains on personal or political agendas. The country's progress depends on a renewed focus on sustainable development, economic expansion, and the creation of employment opportunities for its people.
In these challenging times, Nigeria needs ministers who are competent and deeply committed to the nation's well-being. Patriotism, focus, and dependability will be essential for steering the country through its current crises. The period of trial and error is over. The President and Vice President must now prioritise selecting the best candidates from across the country to form a cabinet capable of delivering results. Governance must shift away from serving a privileged few to addressing the needs of all Nigerians.
Mr. Tegbe, how about asking the Chinese for a blueprint of their law prescribing death penalty for corruption? This past weekend alone, EFCC was battling to charge a former governor for alleged N110 billion fraud, another former governor for alleged N27 billion fraud, yet another former governor for receiving $15 million cash in his house from a bureau de change operator, and a former minister for allegedly diverting N33 billion from a dam project to a bureau de change. I bet my last torn naira note that none of these monies will ever be recovered and all the men will ultimately walk the streets scot-free. Is that how to learn from China? Some people are threatening to do another national protest tomorrow, called #FearlessOctober1. What if Mr. Tegbe includes in his strategic plan a request from the Chinese for a blueprint of the October 1989 Tian An-mien Square, when tanks of the Peoples Liberation Army rolled over the tents of protesters, not minding who was inside them? NOTE:
Nigeria’s Junior Yellow-Greens Pick Africa’s Sole Ticket to U19 Cricket World Cup
Duro Ikhazuagbe
Nigeria’s Junior Yellow-Greens women’s team yesterday in Kigali, Rwanda picked Africa’s sole ticket to the International Cricket Council Under-19 Women’s World Cup scheduled to hold in Malaysia next year.
The Nigerian U-19 ladies who have continued to confound cricket aficionados in the continent with the quality of their displays, stunned favorites Zimbabwe to emerge the winner of the sole ticket at the Africa Qualifiers concluded on Sunday at the Gahangha Cricket Stadium in Kigali, Rwanda.
The Nigeria ladies were declared the winner of the final match against Zimbabwe after the match was washed out in the second inning.
Officials adjudged Nigeria the winner for being the only participant unscathed at the qualifier and had also topped their Group B. International Cricket Council’s official handling the event, announced on Sunday that, “The finals has been washed out at Gahanga 2 Oval, Kigali, and Nigeria qualifies for the 2025 ICC Women’s World Cup in Malaysia as they topped the group and remained unbeaten.”
With the U-19 World Cup ticket in the kitty, the Junior Yellow-Greens led by Piety Lucky have now build on the silver they won at the African Games in Ghana last March.
They are now the best cricket playing junior team in the African continent, ahead of big powerhouse in the game like Zimbabwe.
Speaking on the victory yesterday, President of the Nigeria Cricket Federation (NCF), Uyi Akpata whose developmental programmes have made this possible, described the qualification as the reward for hard work and tenacity that everyone involved had committed to it.
“First, I must thank the players, for their boldness and dedication to this project. The board members too have been very supportive, and I will not forget the coaches and the technical team behind them,” observed the NCF Chief.
Mr Akpata stressed that the federation’s next focus would be how to make sure the team resumes preparations for the World Cup in good time.
He sought the support of all to make sure the World Cup campaign becomes a success.
According to Akpata, “the World Cup is a bigger task; we
need more resources and a robust plan to run a successful campaign. All hands must be on deck, and it must start now.”
Nigeria's road to the World Cup ticket includes; defeatingTanzania
by four wickets, Zimbabwe by one wicket, and overrunning Malawi by 86 runs to top Group B.
In the Semi-final, Nigeria beat hosts Rwanda by 62 runs to set up the second encounter with
Zimbabwe in the finals encounter washed out yesterday.
The 2025 U19 ICC Women’s World Cup in Malaysia is scheduled to be held from January 18 to February 2nd, 2025 and Nigeria is in
automatically for
World Cup without going through the qualifiers.
Victor Osimhen has said the injury that forced him out of Saturday’s game at Kasimpasa was not serious. However, details of the scan carried out yesterday to determine the degree of the injury was not ready as at press time.
Osimhen scored twice to open his goals’ account for new club Galatasaray, but was later replaced in the 46th minute due to a suspected hamstring injury.
The severity of the injury is expected to be ascertained later this week.
The Napoli loanee himself has assured he will be fine.
“My injury is not serious,” he said.
“I felt uncomfortable. I thought I should tell the coach. I did not want the players’ performance to drop.
“I thought I should tell Mauro (Icardi) and the coach as soon as possible. That’s why I left the game.”
Meanwhile, some Napoli fans have expressed their anger over Osimhen kissing the Galatasaray jersey when he scored his first goal for the Turkish champions on Saturday.
Osimhen kissed the Galatasaray jersey, which carried the word
“finally”.
According to Tutto Napoli, that gesture by Napoli loanee caused a huge debate on social media with many fans of the Italian club unhappy with the Super Eagles striker.
Osimhen’s brace and assist in a 3-3 draw with Kasimpasa was widely reported in Italy.
Corriere dello sportreported that Osimhen gave Galatasaray fans a thrilling first half, but in the end it was not enough as home team Kasimpasa snatched a draw late on.
Gazzetta dello Sportsaid Osimhen made his mark in the Turkish league by scoring twice, kissing the Gala jersey and celebrating a third goal with rival striker Mauro Icardi.
Galatasaray forthcoming games are a UEFA Europa League game at Latvian club Rigas FS Thursday followed by a Turkish Super Lig home game against Alayanspor Sunday.
Osimhen who has now confirmed that his hamstring injury on Saturday was nothing to worry about, will be expected to feature for the Super Eagles in 2025 AFCON qualifiers against Libya
NPFL: Remo Stars Remain Top with Win over Rangers
Femi Solaja
In a battle of last season's champions and runners-up, Remo Stars came out 2-1 victorious against Enugu Rangers in a keenly contested match in Ikenne last night in the last fixture of Match-day 4 of the Nigeria Premier Football League (NPFL).
The win not only put the Ikenne side at the summit of the log but also a four-match winning streak to keep the Kunle Soname powered side on 12 maximum points.
After an early exchange of passes, the home side steadily regained control of the match but occasional threats from Rangers were warded off by Junior Nduka-led defence line thus putting goalkeeper Adebiyi Obassa virtually on holiday for the greater
part of the half.
Rangers’ goalkeeper, Lucky Abdullahi failed his first call to action in the second half when he could not to stop Alex Oyowah’s close-range shot in the 50th minute.
Remo Stars had started the buildup from their end and in a clinical cohesive exchange of passes got the scorer in a vantage position to score against Rangers. It was the first goal conceded by the champions in the ongoing season.
But five minutes later, the host was on the receiving end when goalkeeper Obassa, tripped a Rangers striker in the box which resulted in a penalty which was converted by Augustine Agu Kenechukwu.
Four minutes later, the stadium was thrown into a festive mood following
Raymond Tochukwu’s long-range shot that caught the goalkeeper napping for the winning goal.
In the other matches of the day, Rivers United’s Coach Finidi George triumphed over his former club, Enyimba FC in a 2-0 scoreline and put his side on 10 points.
In Ibadan, Shooting Stars pipped visiting Emmanuel Amuneke’s Heartland FC by a lone goal while El-Kanemi Warriors and Plateau United ended 2-2. The scoreline in the Niger Tornadoes versus Bendel Insurance was 1-1. Abia Warriors secured a 2-0 win against Kano Pillars while Bayelsa United and Kwara United settled for a 1-1 draw. Katsina United secured a 3-0 win against Lobi Stars to complete the Match-day 4 fixtures.
Tottenham produced a magnificent display to outclass 10-man Manchester United at Old Trafford and pile renewed pressure on manager Erik ten Hag.
Spurs, even without injured Son Heung-min, tore Manchester United 3-0 apart as they set the platform for victory with a firsthalf masterclass, the only mystery being how they only had Brennan Johnson's third-minute goal to show for their overwhelming dominance.
Johnson's simple finish was created by Micky van de Ven's barnstorming run from his own half, and Spurs went on to create chance after chance without adding to their advantage - Timo Werner being the biggest culprit when he allowed United keeper Andre Onana to save when clean through. United's cause was not helped
when captain Bruno Fernandes was sent off three minutes before the break for a lunge at James Maddison – but Ten Hag's side were an overrun, indisciplined rabble well before they had a numerical disadvantage.
Spurs finally extended their lead two minutes after the interval when Dejan Kulusevski lifted a deft finish over Onana after a fine break by Johnson.
The hard-working Dominic Solanke got the goal his industry deserved and gave the scoreline a more realistic appearance 12 minutes from time, turning in Pape Matar Sarr's headed flick at a corner to spark a mass exodus from Old Trafford by United's supporters.
In a continued effort to foster the growth and development of boxing talent in Nigeria, Flykite Productions, the organisers of the GOtv Boxing Night, have donated crucial training equipment to Tipo Boxing Academy.
The donated items include highquality punch pads, gloves, headgear, and a punching bag. Located in the Egbeda axis of Lagos, Tipo Boxing Academy is dedicated to training young boxers, starting from the age of six years.
During the presentation of the training kits, Chief Operating Officer, Flykite Productions, Bamidele Johnson, expressed the company’s commitment to supporting the aspirations of boxing athletes. “This donation is our way of contributing to the advancement of boxing in Nigeria. We are here to support
your dreams of becoming world champions. These items are meant to aid your growth and help you achieve those dreams,” Johnson said.
The Lead Trainer at Tipo Academy, Yusuf Alarape, expressed his gratitude for the donation, noting the positive impact it would have on the young boxers. “We are really happy with this support for Tipo Boxing Academy. You can see that the kids are really happy and this will serve as a morale booster for them,” Alarape said.
Flykite Productions has been a key player in promoting boxing in Nigeria, having successfully organised 31 editions of the GOtv Boxing Night, as well as the GOtv Boxing NextGen Search, a platform dedicated to discovering and nurturing emerging talents nationwide.
Group C alongside New Zealand, South Africa, and Samoa. All Test playing countries including South Africa qualified
the
Nigeria’s Junior Yellow-Greens celebrating in Kigali, Rwanda after winning the ticket to the 2025 U19 Women’s Cricket World Cup...yesterday
L-R: Chief Operating Officer, Flykite Productions, Bamidele Johnson, handing over the training kits to Tipo Boxing Academy trainer, Yusuf Alarape, at the academy's training ground in Lagos on Saturday
President Tinubu to Developed Nations
“Effective climate action is impossible without adequate financing. I call on developed countries to fulfil their pledge to mobilise $100bn annually for climate finance.These funds are not merely a financial commitment but a moral imperative to support adaptation and mitigation projects in developing countries" -PresidentBolaAhmedTinubu,urgesdeveloped countriestoredeemtheirN100bnpledgeforclimate finance.
MAHMUDJEGA
Ask Chinese For Fifteen Things
Iwas mighty pleased to read in the newspapers yesterday that President Bola Tinubu appointed Mr. Joseph Olasunkanmi Tegbe as Director General and Global Liaison for the Nigeria-China Strategic Partnership. This is meant to actualize [a phrase made popular by June Twelvers] the terms of an agreement reached between Nigeria and China when President Tinubu attended the 2024 Forum on China-Africa Cooperation in Beijing earlier in September. Chinese President Xi Jinping had promised 360 billion Yuan, or US $51 billion, to support 30 infrastructure projects to boost connectivity across Africa, and President Tinubu yanked a pledge from Mr. Xi to support Nigeria’s diversification plans, infrastructure development, technology transfer and job creation. Very mouth-watering, if you ask me. Several Nigerian online sites immediately began calling Mr. Tegbe “Czar of the strategic partnership.” A Czar? Do they know that means? The last real Czar we had in this world,
Tegbe
the all-powerful Emperor of the old Russian Empire, was Nicholas II. He didn’t have a good ending because the Bolshevik revolutionaries captured and executed him in July 1918. Why should anyone compare our venerable Mr. Tegbe to Czar Nicholas? Why not find a title instead that is more pleasing to the Chinese, who he will be dealing with? Why not, for example, a Ming Emperor, Sun Yat-sen, a Boy Emperor Henry Pu-yi, or even a Chou en-Lai?
In any case, Mr. Tegbe’s assignment is not to preside over a decadent old empire and to have it chopped away little by little by Mongols, Tatars, Japanese, Portuguese and Brits. His brief is to draw up a strategic plan, in which he will “outline specific deliverables, time lines and key performance indicators for each area of cooperation, and to continuously engage with the Chinese and ensure that all the goals are met and synchronized with our national development goals.”
Personally, I have never been so excited about an
announced national development goal in this country like this one. Rather than sit back like many of my countrymen and grumble that Nigeria cannot achieve the Chinese economic miracle in 300 years, not to mention 30 years, I must immediately lend a helping hand to Mr. Tegbe and help him identify key elements that he should include in the strategic plan. I first read about China in our primary school primer. In the 1970s and 1980s, I read every edition of China Pictorial magazine, which I used to buy at the old Post Office in Sokoto. I can therefore help Mr. Tegbe to identify 15 goals in our strategic cooperation that will enable us to replicate the Chinese miracle here in the heart of Africa. First of all, ask the Chinese how we can surrender our national governance to the Communist Party of Nigeria. How else can we transform under this rag-tag liberal democratic arrangement, without a developed
Continued on page 38
Building Capacity to Support Sustainable Devt 2
The Abia State infrastructure restoration project across all parts of the State is designed to create strong enablers for private sectorled growth in our areas of comparative advantage, especially trade, agriculture and light manufacturing. Things are beginning to look up in several urban and sub-urban locations as we continue to win the trust of the general public through sustained investments in the critical enablers of growth and prosperity.
To protect the environment, we have taken measures to insulate our forests from profiteers and those whose activities are unhealthy for our forest reserves. More importantly, the State Ministry of Environment has been repositioned to adequately cater for our environment's
dynamic needs by setting up robust mechanisms to monitor mining and mineral exploration activities in all parts of the State, protect our water bodies from pollution and safeguard our greenbelt regions.
While we are not yet at the point where we can adopt the same development priorities as our peers in the developed world, we are still conscious of our shared responsibility to the planet, and the future of the environment. This explains why we have gone ahead to set up a department in the State Ministry of Environment with a clear responsibility for climate actions, initiating and executing programmes and policies that limit damage to the natural environment.
I am proud to inform this special audience that the state has chosen to adopt an integrated approach in
dealing with the threats of climate change because as earlier mentioned, everything is intricately connected. In the 2024 fiscal year, we made substantial provisions to finance our climate actions by identifying areas of critical needs. We have also integrated many important infrastructure projects, including the “Light Up Abia” initiative, to conform to our climate response framework. In this regard, we are actively installing thousands of energy-efficient lights using solar technology to increase night time visibility on our roads and walkways in urban and rural communities. Our on-going and recently completed projects in the public schools and health institutions like the Amachara General Hospital, Umuahia, and the Abia State Specialist and Diagnostics Centre, Umuahia have been fully equipped with energy-efficient
DAKUKU PETERSIDE
BENEATH THE SURFACE
solutions that have not only reduced our carbon footprints as a State, but have also cut down on our energy spending, supported standard preservation of drugs and consumables, and generally improved service delivery at these institutions. Recently, I directed the State Commissioner for Power and Public Utilities to engage with the management of the State University to develop an alternative energy framework to address the perennial power problems in the school. We shall extend this effort to other institutions in the State. We believe that renewable energy is the way to go for reasons of cost efficiency and climate friendliness. Our grand vision is to power all government buildings
Cabinet Revision: Realism Versus Expectations
Nigeria is in the grip of a severe economic crisis, with high inflation, volatile exchange rates, and a steep rise in the cost of living. The inflation rate, which soared to over 30% in the second quarter of 2024, has put immense strain on household budgets, making it increasingly difficult for many Nigerians to afford basic necessities such as food, healthcare, and housing. The situation has been worsened by the depreciation of the naira, which plummeted to historic lows against the US dollar, trading at over N1600 to $1 in recent days. This economic turmoil, coupled with persistently high unemployment rates of over 33%, is fostering a growing sense of economic despair across the nation.
This environment of uncertainty has shaken the confidence of the average Nigerian, even those renowned for their resilience. A recent survey conducted in Abuja, Lagos, Kano, and Port Harcourt showed that 70% of respondents expressed pessimism about the country's future, fearing that things will unlikely improve soon. These sentiments have been reflected in public movements such as the #EndBadGovernance protest, which erupted a few months ago and brought the frustrations of millions of Nigerians to the forefront. Although it started as a protest against bad governance, the movement quickly morphed into a more extensive critique of poor governance, economic hardship, and the perceived disconnect between Nigerian leaders and the everyday struggles of citizens.
Amid this widespread disillusionment, the mere mention of a possible cabinet reshuffle or change has sparked a flicker of hope. While a cabinet change might seem like a small gesture, it often brings a sense of cautious optimism that new leadership might steer the country in a better direction. The presidency's recent indication of a potential reorganisation of the Federal Executive Council (FEC) has garnered significant national attention. The question is whether this reshuffle will end an ineffective and underperforming cabinet or if it could signal the beginning of genuine efforts to address Nigeria's pressing crises. The scepticism is rooted in past experiences where cabinet changes have failed to bring tangible improvements. For example 2019, after President Muhammadu Buhari's
second-term victory, a similar cabinet overhaul raised hopes of economic reform, but little changed. Key sectors such as power, infrastructure, and healthcare continued to struggle, leading to widespread public disillusionment. A personal experience offers a fitting analogy. A close friend of mine was diagnosed with an aggressive form of prostate cancer. Faced with this alarming news, we didn't simply choose any available doctor—we searched for a specialist with proven expertise in treating prostate cancer. We knew that his survival depended on finding the right medical expert. Nigeria's economy is similarly dire; it is "cancerous" and desperately needs leaders with
