THURSDAY 3RD OCTOBER 2024

FG Unveils New Fiscal Incentives to Boost Oil, Gas Sector

Introduces VAT modification order 2024 for exemptions on diesel, LPG, CNG, others Offers new tax reliefs for deep offshore projects operations in the nation’s upstream and downstream sectors of the economy. Minister of Finance and Coordinating Minister of the Economy,

Mr. Wale Edun, who unveiled the two major fiscal incentives, yesterday, said they were part of overall measures to revitalise Nigeria's oil and gas sector:

Relations,

www.thisdaylive.com

Israel Declares United Nations Chief, António Guterres, Persona Non Grata

Engage Military Contractors to Wipe Out Boko Haram, Ndume Tells Tinubu

L-R: President and Chairman of the Board of Directors, African Export-Import Bank (Afreximbank), Prof. Benedict Oramah and the Minister of Art, Culture and Creative Economy, Hannatu Musawa, at the just concluded UNGA79 event in New York, United States

Founder and Chairman, Zenith Bank Plc, Jim Ovia, CFR, presenting his highly inspirational book, ‘Africa Rise and Shine’ to the French Ambassador to Nigeria, H.E. Marc Fonbaustier, during a courtesy call by the French envoy and his team to Jim Ovia in Lagos, yesterday.

Ndubuisi Francis in Abuja

Emmanuel Addeh in Abuja

ARENA

FG Urges Stakeholders to Boost Funding for MSMEs to Tackle Food Shortages

James Emejo in Abuja

The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, yesterday appealed to governments, development partners, and the private sector to unite and build a robust financial system that caters to the needs of Micro Small and Medium Scale Enterprises (MSMEs) in the country.

The minister said all parties must work to ensure the success of small businesses by creating microfinance schemes, loan guarantees, and publicprivate partnerships that can de-risk investments in the sector.

She spoke at the Bank of Industry (BoI) Inaugural Lecture Series, with the theme, "Creating Impact: The Role of MSME Support and Financing in Alleviating Poverty and Food Insecurity in Nigeria" and Official Launch of Development Journals in Abuja.

This came as Managing Director/ Chief Executive, BoI, Dr. Olasupo Olusi, said the bank has disbursed about N77.65 billion to small businesses this year, noting that these loans were given to almost 1,000 MSMEs across the country to enable them boost their operations.

The minister said while BoI and other development finance institutions are doing all they could to support MSMEs and reinvigorate them to play their role in accelerating economic growth and shore up food security, "I must urge us all to do more for many more MSMEs whom we are

yet to capture".

She stated that the current global food security crisis which had been intensified as a result of conflicts, pandemics, and climate change remained a significant threat facing the world, adding that all well-meaning organisations and MDAs must come together to address the challenge.

Uzoka-Anite, said, "I am therefore, pleased that the BoI, by its mandate is providing all the necessary support to MSMEs through access to finance and other intervention programmes."

She noted that BoI's Price Intelligence Platform which was unveiled at the occasion, had been designed to address inflation and bring down the price of food items, thereby impacting every Nigerian and helping to guarantee food security.

"This is a laudable initiative, and I assure you of the Ministry's 100 per cent support as always," she said.

Furthermore, the minister said digital financial solutions can revolutionise access to finance for small enterprises, especially in remote areas across the country, stressing that mobile banking, digital payment platforms, and blockchain for transparent supply chains are examples of how technology can be leveraged to provide more inclusive financial services.

The minister said, "By financing smallholder farmers, agribusinesses, and local food processors, we can improve agricultural productivity, reduce post-harvest losses, and ensure more efficient distribution of food.

It is therefore, absolutely pivotal that we ensure that our MSMEs in agriculture are receiving the necessary finance they require, and I am excited to hear of the initiatives being developed by the Bank of Industry and other development partners today to provide such financing to our farmers."

Managing Director/Chief Executive, BoI, Dr. Olasupo Olusi, said the event marked a significant step in the bank's commitment to intellectual discourse and sustainable development in Nigeria.

He said the lecture was also part of events commemorating the BoI

at 65, pointing out that the platform seeks to engage with stakeholders to discuss critical areas essential for achieving national macroeconomic development – a goal that the bank passionately pursues.

Olusi said the gathering was a celebration and launch of two landmark publications—the BoI Journal of Development Finance (Technical) – a bi-annual publication on development finance and economics, with wellarticulated policy recommendations, and the BOI Journal of Development Review (Non-Technical) – another bi-annual publication on the analysis of MSMEs development policy in

Nigeria and Africa.

In addition, he said the bank was unveiling the BoI PriceSense NG – a price intelligence dashboard and mobile app for real-time monitoring of price variations of food commodities across the country.

He said, "These initiatives reflect our dedication to generating impactful research, fostering innovative solutions, and promoting transparency in all our endeavours.

"Both journals will be open-access and all content will be freely available for reading, downloading, copying, distributing, printing, searching, or linking, provided the source is cited.

"Today’s unveiling of the BoI PriceSense NG price intelligence platform is another bold step in enhancing transparency and accountability in the food commodity market. "Through this, we will provide realtime insights into price trends, help stabilize markets, protect consumers, and inform policy decisions aimed at addressing food insecurity."

Olusi said though MSMEs constitute the bedrock of any thriving economy, these businesses often face significant challenges, which include limited access to finance, challenging operating environment, including infrastructure deficiencies.

NEDC: We'll Introduce e-Vehicles for Intra-state Transportation in North-east

The North East Development Commission (NEDC) is to introduce electric vehicles in Northeast Nigeria in line with President Bola Tinubu's directive to promote cleaner energy.

Managing Director of NEDC, Mohammed Alkali, who disclosed this to journalists yesterday, at the State House, Abuja, after meeting with Tinubu, said the commission conducted a thorough analysis of Compressed Natural Gas (CNG) and electric vehicles (e-vehicles) and

Senate Suspends Rule to Pass Bill on Iragbiji Federal University

The Senate yesterday suspended its rules to pass a bill seeking the establishment of Federal University of Agriculture and Tropical Studies, Iragbiji, Osun State, for second reading.

The Executive Bill was subjected to legislative process by the Leader of the Senate, Senator Opeyemi Bamidele.

training ground for the development of agriculturalists in the country.

He said: "Agriculture with its allied sectors is unquestionably the largest livelihood provider more also in the rural areas and can contribute significantly to the GDP.”

political conviction, the opportunity of acquiring tertiary education in agriculture and tropical studies.

concluded that e-vehicles are better suited for the region.

This decision, according to Alkali, was informed by plans to create modular solar power units across states, providing a standby power source for the e-vehicles.

He said the e-vehicle fleet would be of three categories: e-buses designed for intra-state movements with a minimum capacity of 40 people per trip, e-taxis capable of carrying three people including the driver, and modified tricycles enhanced to carry eight people including the driver.

The commission, he further explained, prioritised local content, ensuring that vehicle bodies can be fabricated locally in the North East or other regions.

According to him: "We are here today to brief Mr President on one very critical activities he has approved which we had to engage in the last two months.

"As you can recall, there’s a

directive from the President that cars as soon as possible should use CNG or electric vehicles, and we at the northeast development commission did a thorough analysis of our region, because we cover six states in Northeast Region, and look at the comparable advantage between CNG and e-vehicles.

"After our thorough analysis, we came to the conclusion that for the Northeast region, yes, the CNG could work, but e-vehicle can work better for many reasons.

"One is that our plan at end of day is to create modular solar power units across the state which can be used to power this percentage of e-vehicles.

"On that note, earlier on, we sought and got approval of the Presidency for us to go ahead and come up with the framework of how we are going to deploy this e-mobility in the northeast and what kind of e-mobility, etc, and Mr. President graciously gave approval, and today we came to present to

him the kind of e-vehicles we are going to introduce in the Northeast.

"There are three categories. One is the E-busses, which can carry about 40 people or passengers at a given point in time, at the minimum, and that's it for intrastate, not interstate. Also, we brought some sample of e-taxis which normally will carry three people passengers as well as the driver, and we also brought in a highly modified tricycle.

"Most of the tricycles we have in the North East or elsewhere only carry three people plus the driver four, but in our case, we have modified it to carry eight people plus the driver, and it's fully covered and very convenient, and we are also, knowing the kind of weight and people we are going to carry, we’ve asked our engineers to modify the physical structure of the tricycle.

“When you look at it, you can see the tires are bigger, the prime is bigger, and so and so forth.

The fresh Bill was read on the floor of the Red Chamber for the first time yesterday and the leadership of the Senate suspended the rules to accommodate it for second reading.

In his lead debate on the bill, Bamidele said the proposed institution is a bold step towards, not only addressing the educational needs of the populace but it will also serve as

The proposed university, according to him, will provide the holistic development of agriculture and tropical studies, knowledge skills and the telescopic vision on the future that will help them contribute to accelerated agricultural growth rate and enhance farmers income and generate employment in the sector.

He listed the objective of establishing the university to include, advancement of learning and to hold out to all persons without distinction of race, creed, sex or

Bamidele said: “It will act as agents and catalysts through post-graduate training, research and innovation for the effective and economic utilization, exploitation and conservation of the country's agricultural resources.

"It will offer to the general population particularly in the area agriculture tropical studies as a form of public service, the results of training and research and to foster the practical applications of these results.

“It will identify the problems and needs of the agriculture sector in Nigeria and to find solutions to them within the context of overall national development.

Tinubu Begins Two-week Working Leave, Departs for London

Olusi: N77.65 billion disbursed to 1,000 businesses, unveils development journals, price intelligence dashboard To

Deji Elumoye in Abuja

President Bola Tinubu yesterday, departed the nation's capital, Abuja, for London, the United Kingdom where he'll be spending two weeks out of his annual leave.

The President was seen off at the Presidential wing of the Nnamdi Azikwe international airport, Abuja at about 2.30pm by top government

officials including the Secretary to the Government of the Federation, Senator George Akume; National Security Adviser, Mallam Nuhu Ribadu; FCT Minister, Nyesom Wike; Budget and Economic Planning Minister, Abubakar Bagudu and Minister Defence, Bello Matawalle.

According to a statement issued by Onanuga, the President would use the two weeks as a working vacation and a retreat to reflect on his administration's economic reforms.

He is expected to return to the country after the leave expires.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed that Tinubu would begin a two-week vacation, part of his yearly leave.

Sunday Aborisade in Abuja

Deji Elumoye in Abuja

OmOkri mEEtS thE PrESiDEnt...

President Bola Ahmed Tinubu (R) in a handshake with former Presidential Spokesman, Reno Omokri, during a meeting with the president at the Presidential Villa, Abuja...yesterday

L-R: Wife of the immediate past governor of Akwa Ibom State, Dr. Martha Udom Emmanuel; her husband, Mr. Udom Emmanuel and Oyo State Governor, Engr. Seyi Makinde during the presentation of a gift to Makinde from the Central Men's Fellowship (CMF) of United Evangelical Church Lagos

Naira Redesign Was Good for the Economy, Former Acting CBN Governor, Shonubi Tells Court

Alex enumah in Abuja

A former Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, yesterday, told a High Court of the Federal Capital Territory (FCT), that the naira redesign policy introduced by the administration of former President Muhammadu Buhari, was for the overall good of the country’s economy.

Shonubi said this under cross examination by Mr. Olalekan Ojo, the lead lawyer to the immediate past Governor of the CBN, Mr. Godwin Emefiele, who is currently standing trial before Justice Maryann Anenih of the FCT High Court in Maitama, Abuja.

Although, Shonubi who served as Deputy CBN Governor, Operations, while giving evidence, however, stated that the apex bank under Emefiele did not follow its laid down procedures for currency redesign. He, however, stressed that Emefiele got a presidential directive to go ahead with the policy.

Shonubi also admitted during cross examination that the purpose of the Naira redesign was to prevent currency counterfeiting, currency hoarding and for the general benefit of the Nigerian economy.

The Economic and Financial Crimes Commission (EFCC) had last year arraigned Emefiele on a four-count charge bordering on

disobedience to the direction of law and illegal act causing injury to the public.

In the charge marked: CR/264/2024, the Commission alleged that Emefiele, between October 19, 2022 and March 5, 2023 disobeyed the direction of Section 19 of the CBN Act by approving the redesign and printing of the N200, N500 and N1,000 notes without the recommendation of the CBN board and strict approval of President, Federal Republic of Nigeria, which conduct caused injury to the public.

At the resumed trial yesterday, the witness explained that the normal procedures of currency redesign at the CBN required the management

department to make recommendation to the effect of redesign after which a paper would be submitted to the Committee of Governors (COG) of the bank for consideration.

Shonubi further explained that upon the COG’s approval to the CBN Board, which would in turn make recommendation to the President, who then approves before an internal committee would then be set up to execute the redesign.

Giving further evidence, the witness, who informed that he was a member of both the COG and CBN Board as a deputy governor, said: “While serving as Deputy Governor, there was a time the Naira was redesigned. That was in 2022. The

AfDB Seeks Strategic Investments in Wheat Production as Demand Hits 75 MMTs

The President, African Development Bank (AfDB), Dr. Akinwumi Adesina, yesterday called for strategic investment and innovation in the production of wheat to boost food security in the country, and Africa at large.

Speaking at the opening of the West and Central Africa Wheat Summit 2024, with the theme, "Prioritising Policy, Innovative Technologies and Investments in Wheat Transformation towards Sustainable Food Security and Economy in West and Central Africa," in Abuja, Adesina emphasised the transformative potential of technology in agriculture and food security.

He said there was the urgent need to address wheat dependency in the region which imports over 80 per cent of the food commodity, pointing out that the continued dependency undermined food security and economic stability.

Adesina said, “Transforming our wheat sector offers immense potential for sustainable food security and economic growth.”

He added that population growth and changing dietary preferences had influenced the dramatic rise in wheat consumption.

Represented by AfDB Director General, Nigeria Country Department, Dr. Abdul Kamara, the AfDB president stressed that the use of technology, supported by the right policy environment and investments had transformed

agricultural productivity in many countries, ensuring food security for their populations.

He said through adoption of innovative technologies in mechanisation, farming techniques, irrigation systems and high-yield crop varieties and conservation agriculture, the Cerrado Savannah of Brazil, increased cotton production by 300 per cent; corn by 150 per cent and soybean by 75 per cent in the last two decades.

Adesina said this had also contributed to Brazil becoming a major source of food export in the world.

He stated that when supported with the right policy choices, technology can address problems faced by farmers in West and Central Africa, including climate change, limited access to finance, post-harvest losses among others.

He said, "Agriculture technology can thus help to advance food security in sustainable ways in the region. Two decades ago, the total consumption of wheat in Africa was around 25 million metric tons. This has surged to over 75 million metric tons recently."

Adesina further drew comparisons with India, noting that "the proverbial poor Indian farmer has now become an exemplary multi-millionaire agricultural business executive".

He said, "Africa’s population, currently at 1.5 billion, is projected to reach 2.5 billion by 2050, prompting a shift towards wheat as a staple food...In West and Central Africa,

the per capita consumption of wheat is now over 20 kg."

He said the AfDB was pleased that Nigeria had commenced efforts towards attaining a national wheat self-sufficiency.

Also, speaking at the summit, Country Director, Food and Agriculture Organisation (FAO) in Nigeria, Dominique Kouacou, emphasised the need for private sector participation, and reaffirmed FAO's commitment to support government initiatives.

Regional Coordinator of the West and Central Africa Wheat Development Network Prof. Benjamin, said wheat played a crucial role in global food security and economic growth in the continent.

He noted that the increasing demand-supply gap for wheat was fueled by urbanisation and evolving dietary preferences.

Ubi said that the summit aimed to influence policymakers to prioritise wheat production and transformation across the region.

CBN did not follow the procedures (for redesigning the Naira).

“I was a member of CBN Board as deputy governor. The chairman of both the COG and board was the governor.

“Prior to 2022, in early 2021, the currency department recommended the redesign of the currency notes. A paper was presented to me and on the instruction of the governor (Emefiele), it was stepped down.

In 2022, we again represented the paper and we’re asked to hold on.

“In mid-October, 2022 the deputy governors were invited to a meeting in the office of the governor whereby he (Emefiele) informed us that he has presidential approval for currency redesign. He showed us the memo, Mr. President’s signature and instruction on the last page.”

Shonubi recalled that it was after a mid-October meeting, that the COG held its next meeting where the currency department presented a memo which was approved by the COG, adding that the CBN Board was informed in November at its meeting.

He told the court that while the COG held its meeting after the four deputy governors had been informed of the President’s approval, the board did not recommend the NairaTheredesign. witness added that what Emefiele showed the deputy governors was different from what was eventually produced.

The witness also admitted that

Oil Workers Urge FG to Salvage Nigeria

Blessing ibunge in Port Harcourt

Stakeholders from the oil and gas industry have called on the federal government and captains of industries to salvage Nigeria from collapse as the nation continues to face diverse challenges.

Workers and retirees in the oil and gas industry across Nigeria who gathered to pray for the country under the aegis of Petroleum Industry Christian Fellowship International (PICFI), made the call at their national annual prayer conference, held in Port Harcourt.

THISDAY at the programme observed that the group organised training for the unemployed, for workers preparing for retirement, they visited the old people's home as part of its charity activities, held praise and worship, workshop, among others.

Speaking with journalists during the programme which lasted for three days, National President of PICFI, Shola Idowu, explained that the interdenominational Christian gathering was made up of Christians in the international, and local oil and gas industry, as well as cooperation under the Ministry of Petroleum Resources.

He disclosed that the members were drawn from Shell Petroleum Development Company (SPDC), Chevron, Exxon Mobil, Oando, NLNG, Petroleum Training Institute, Warri Refinery Petrochemical, among others.

Idowu explained that, "Every year we hold an annual prayer conference, and this year we have gathered in the City of Port Harcourt for the 20th annual prayer conference for brethren in oil and gas industry to come together pray, seek the face

of God, intercede for the industry, intercede for Nigeria for the betterment of the country and also the company that God has planted us to work for now."

He said the area of focus for the event was to raise, correct lives that would be able to represent God both in their offices and occupy the gates of industries for the Lord.

Speaking on the challenges faced by the country, the PICFI President said, "The economic challenge in the country gives us a lot of concern. We know a lot of politics were involved, bad game but what we are doing is to be praying for the country, for industry and also to be doing what is right at work.

"As stakeholders in oil and gas, sincerely speaking we have been praying and continue to pray, we know what befell Nigeria is not

not only was there a Presidential approval for the redesign of currency, he admitted that the President, who had the final say on redesign did not complain about the printed currency before it was launched by the President.

With respect to the debit of N124 billion into the Consolidated Revenue account, the witness admitted that the figure of the N124 billion formed part of the N23 trillion Ways and Means which was approved by the President, the Federal Executive Council and appropriated by the National Assembly. The EFCC had on May 15, arraigned Emefiele on a four count charge before Justice Maryanne Anenih of the High Court of the Federal Capital Territory (FCT), sitting in Maitama, Abuja. Emefiele however denied the charge and was admitted to bail in the sum of N300 million. In the four count charge, the anti-graft agency had claimed that Emefiele embarked on the naira redesign without the approval of the Board of the CBN as well as then President, Muhammadu Buhari.

Specifically, the EFCC is accusing Emefiele of approving the printing of various quantities of the new Naira notes “without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence”.

ordinary and before we can get a change there is a place for God's factor."

Pleading to Nigerians to always do the right things for positive change in society, he said, "The economic challenge affects everybody because the people that depend on us multiplied.”

“We appeal and plead with the federal government and captains of the oil and gas industry to do what is right and salvage this country from being collapsed. So, we are pleading that in the name of the Lord, do what is right and salvage Nigeria from destruction."

On his part, Mr. Osondu Okpara, a one-time national vice chairman of the organisation, and present chairman of the advocacy committee of PICFI, said the group was also praying for Nigeria and seeking for the welfare and wellbeing of Nigerians.

James emejo in Abuja

L-R: Senior Vice President, Aeronautical and Airline

Emirates Pushes for Codeshare Agreement with Nigerian Carrier on Return to Lagos Route

BASA open for airlines from both countries to fly to airports of choice

Chinedu Eze

The Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed that for a long-term flight service to Nigeria, the Middle East mega carrier, Emirates Airlines, is meeting for codeshare partnership among Nigerian carriers.

This indicates a stronger relationship between the airlines of both countries as codeshare allows passengers to book through itineraries on two (or more) airlines.

In effect, by choosing to codeshare with a Nigerian airline, Emirates wants to accentuate such partnership and this signifies that the airline wants to deepen stakes in Nigeria.

“I can tell you that we also secured some kind of co-sharing agreement. We told them that if they want to co-share, our airlines will have the right of first refusal. We said our local airlines will have the right of first refusal. Because there will be a lot of co-sharing in this respect now.

“And as I speak with you, they are speaking with many of our local operators. I went with some of them. Emirates is speaking with a lot of our local operators now. And that is also for the benefit of our local aviation industry,” the aviation minister elaborated.

Fielding questions from journalists after a meeting with Emirates officials on arrival at the Murtala Muhammed International Airport (MMIA), Lagos, yesterday, the Minister disclosed that embedded in the Bilateral Air Service Agreement (BASA) is a clause that allows airlines from both countries to operate from an airport of their choice. This is in contrast with the past when the Nigerian carrier, Air Peace, was designated to one airport, Sharjah, but this time, BASA

allows Emirates and the airline that will represent Nigeria to choose the airports they would operate from.

“We secured that airlines from both countries can fly to any airport. In fact, I will put it advisedly that we are also free to fly to any airport in the UAE,” the Minister said.

The Minister also noted that UAE and Nigeria lost some economic benefits due to the diplomatic impasse that subsequently led to the suspension of flight service to Nigeria by Emirates, disclosing that the airline said that it has come back to the Nigerian route for the long term.

His words: “When President Bola Ahmed Tinubu) came into office, he made it clear that he would like to restore relationships with most of the major partners and countries around the world. As a government, we identified the UAE as a major and important partner and a country that we should restore our relationship with.

“The relationship went downhill before, you know, with visas, suspension of visas, suspension of their flights. And for Nigerians, it was especially damaging because we know that Nigerians have a lot of interest and investments in the UAE.

“So eventually it was not an adventure in the self-glorification, it was actually a fight for the people of Nigeria, especially. And I am sure you see the tempo around is that people are excited, people are happy that we are restoring relationships with the UAE.

“And that is why I took all the pain to go back there to sign a new BASA. I went there, we signed a new bilateral air service agreement. You know, we are defining our relationship altogether again, making it healthier, making it more open

and for the benefits, especially of the Nigerian people.

“But I am sure you heard from them, the horse’s mouth, not me. They say they are back to stay. They are not going anywhere again because I think the suspension hurt both sides. They felt it and we felt it. But now they are back.”

Keyamo said that it was a priority when deliberating on the details of the BASA to secure the interest of Nigerian airlines to ensure that if any of them wants to operate to any destination in UAE it could do, adding that that having more airlines

and Nigerian airlines operating international destinations encourages competition, which lowers the fares for the passengers.

He further said: “First of all, you have more options. The first thing we did when we went to negotiate a new bilateral air service agreement was to also secure the route for our local operators. And I am sure you saw my statement last week.

“It was one of the major things I stood my grounds on. And if you look at the new one, it said to any destination. So, nobody is going to have to say, well, this is

prime, this is not prime airport. Our agreement with them is they fly to any destination; we fly to any destination in the UAE.

“So, it's purely reciprocal in that respect. First of all, you know that we have a variety of choices now. We have more competition on different international routes now. That is what it is all about, is to ensure healthy competition. And healthy competition leads to competitive prices for the benefit of the Nigerian people.

“I am sure you know, without mentioning an airline, when Emirates

suspended its operations to Nigeria, some other airlines ripped the benefits. Many of them increased their frequencies to Nigeria. Many of them increased their prizes because the seats were not available, flights were not available and all of that.

“But you also know that why we fought for this is that Dubai in particular is a major hub of the world. It links virtually every major country in the world. So, for Nigerian travelers, it is easy to access any part of the world by simply traveling to Dubai and connecting to that country.”

House of Reps Rejects “Inferior" CFR Honour Conferred on Speaker Abbas

Insists green chamber not inferior to senate

Akinwale in Abuja

The House of Representatives has rejected what it described as inferior Commander of the Federal Republic (CFR) award conferred on the Speaker, Hon. Tajudeen Abbas.

However, the Green Chamber reaffirmed its commitment to the constitutional principle of equality between the two chambers of the National Assembly and called for the elimination of all practices, titles, and references that suggest otherwise.

It maintained that the Speaker of the House is a co-leader of the legislative arm of government, and this must be recognised and respected in all respects.

The resolution of the House was sequel to the adoption of a motion titled, “multi-partisan motion on the

ACEGID Celebrates a Decade of Excellence with the Unveiling of Herbert Wigwe Memorial Garden

The African Centre of Excellence for Genomics of Infectious Diseases (ACEGID) is set to unveil the Herbert Wigwe Memorial Garden in celebration of its 10th Anniversary. According to ACEGID, the unveiling ceremony is scheduled for Friday, October 4, 2024, at 11:00 am at Redeemer's University in Ede, Nigeria.

The garden is dedicated to honoring the life and legacy of Dr. Herbert Wigwe, a strong advocate and supporter of ACEGID.

It will serve as a tribute to his significant contributions to the organization, his humanitarian impact, and his dedication to improving the lives of others. Additionally, the garden will symbolize the enduring partnership between Access Bank and ACEGID, showcasing their joint commitment to advancing scientific research and public health initiatives.

The unveiling of the Herbert Wigwe Memorial Garden precedes a series of events planned for

October 7th to 9th, 2024. These activities will include ACEGID's 10th Anniversary Celebration, the One Health Genomics Symposium, and the inauguration of the new ACEGID Genomics Centre, a state-of-the-art facility made possible through the support of Access Bank.

Dr. Christian Happi, the Director of ACEGID, expressed gratitude for the ongoing support from the community and eagerly anticipates welcoming participants to this significant occasion.

inappropriate discrimination against the House of Representatives and the presentation of the chamber as inferior to the Senate”, moved at the plenary on Wednesday by Hon. Philip Agbese and co-sponsored by 235 members.

Moving the motion, Agbese said the National Assembly is constitutionally established as a bicameral legislature comprising two equal chambers - the Senate and the House, as stipulated in Section 4 of the 1999 Constitution of the Federal Republic of Nigeria (as amended), with both chambers operating within a framework that ensures the legislative independence and equality of each.

He pointed out that Section 47 of the 1999 Constitution provides for the establishment of the National Assembly, consisting of a Senate and a House of Representatives, each of which plays distinct but complementary roles in the legislative process.

Agbese expressed concern that there is an ongoing and inappropriate culture of discrimination against the House of Representatives, often portrayed as inferior to the Senate, through language that consistently refers to the Senate as the "upper chamber" and the House of Representatives as a "lower chamber."

He emphasised that this terminology misrepresents the legal status of both chambers and diminishes the House's standing.

Agbese expressed worry by the growing trend where the President of the Senate is referred to as the "Chairman of the National Assembly," which inaccurately implies a hier-

archical structure between the two chambers, contrary to the Constitution.

This, he said, undermines the authority of the Speaker of the House of Representatives, adding that neither the constitution nor the Standing Orders of both chambers recognise the position of a Chairman of the National Assembly as his title has no legal basis.

The lawmaker further expressed concern that this discriminatory practice was once again evidenced during the recent conferment of National Honours on the leadership of the National Assembly by President Bola Tinubu.

Agbese noted: “While expressing our gratitude to Mr. President for recognising and honouring the leadership of the National Assembly, we note that the conferment of the title of Grand Commander of the Order of the Niger (GCON) on the President of the Senate and the conferment of the Commander of the Federal Republic (CFR) on the Speaker of the House of Representatives and Deputy President of the Senate perpetuates the inappropriate subordination of the Speaker to the President of the Senate.”

He said the Chief Justice of Nigeria, who is lower in protocol ranking than the Speaker of the House of Representatives, was also awarded the title of GCON, further exemplifying this culture of discrimination against the leadership of the House.

Agbese said the Constitution, in promoting a balanced and equal bicameral legislature, clearly provides that bills passed by one chamber must

be concurred with by the other in the same form for them to become law, thus affirming the equal status of both chambers as essential components of the legislative process.

He said while the Constitution assigns specific responsibilities to the Senate, such as confirming certain presidential appointments, it implies greater authority for the House of Representatives over appropriations and the power of the purse.

According to him, these distinct roles are designed to maintain a system of checks and balances within the legislative arm rather than establishing the superiority of one chamber over the other.

Agbese stressed that the House and the Senate are two distinct but equal components of the legislative branch, and their leaders - the Speaker and the President of the Senate - are co-heads of this branch, each playing a unique role in advancing legislative functions.

He was of the opinion that this distinct dual leadership is a unique arrangement in the governmental system that must be respected;

The lawmaker explained that the enabling Acts establishing institutions under the National Assembly, including the National Institute for Legislative and Democratic Studies (NILDS), the National Assembly Service Commission (NASC), the National Assembly Library, and the National Assembly Budget and Research Office (NABRO), clearly reflect the co-leadership status of the Speaker and the President of the Senate, thereby validating the equality of both chambers;

Adedayo

Affairs, Emirates, David Broz; UAE Consul General to Nigeria, Zayyan Ibrahim; CEO, UAE VP office, Political Affairs, Khalid Al Mannaei; Minister of Aviation and Aerospace Development, Mr Festus Keyamo; Senior Vice President, Commercial Operations, Gulf, Middle East and Central Asia, Emirates, Adi Al Ghaith; Country Manager Nigeria, Emirates, Paulos Legesse; and Acting. DG, Nigerian Civil Aviation Authority (NCAA), Captain Chris Najomo, during a ceremony to welcome the Emirates flight back to Nigeria after two years suspension, at Murtala Muhammed International Airport, Ikeja, Lagos... yesterday

NBS: With 13.7% Reduction Y-o-Y, Nigeria

Imported 20.3bn

Litres of Petrol in 2023

OPEC panel sticks to oil output policy, leaves supply unchanged

Emmanuel Addeh in Abuja

Nigeria imported 20.3 billion litres of petrol in 2023, recording a 13.7 per cent reduction compared to the 23.54 billion litres brought in the previous year, latest data from the National Bureau of Statistics (NBS) has shown.

Also, during the year under review, truck-out of petrol stood at 20.22 billion litres, a decrease of 16.96 per cent when compared to the figures for 2022.

When he assumed office in May 2023, President Bola Tinubu announced the removal of subsidy on petrol, thereby triggering a reduction in overall national consumption and a slump in the quantity of fuel smuggled out of the country.

The price of the product has since then risen from around N195 to N950 per litre in parts of the country and even more in other parts.

According to the NBS document, Nigeria recorded a growth rate of 6.7 per cent in terms of local production of diesel, to 109.39 million in 2023 compared to a previous figure of 102.47 million litres in 2022.

“In 2023, Premium Motor Spirit

As the security situation continues to deteriorate in the North-east and North-west, the senator for Borno South Senatorial District, Ali Ndume, has advised President Bola Tinubu to employ the services of military

(PMS) or petrol truck out stood at 20.22 billion litres, indicating a 16.96 per cent decrease relative to 24.35 billion litres recorded in 2022.

“About 69.71 million litres of Household Kerosene (HHK) were locally produced in 2023 compared to 44.68 million litres in 2022, indicating a growth rate of 56.02 per cent over the period.

“For Automotive Gas Oil (AGO), 109.39 million litres were locally produced in 2023, higher, compared to 102.47 million litres reported in 2022. This represents a 6.76 per cent growth rate.

“In terms of imported products, 20.30 billion litres of PMS were imported in 2023 relative to 23.54 billion litres in 2022, showing a decrease of 13.77 per cent,” the data showed.

Also, the report noted that 4.94 billion litres of Automotive Gas Oil (AGO) or diesel were imported in 2023, indicating an increase of 23.66 per cent compared to 4.00 billion litres in the previous year.

Meanwhile, the meeting of top Organisation of Petroleum Exporting Countries (OPEC) ministers yesterday

contractors to wipe out Boko Haram terrorists in Borno State, who continue to pose a threat to the region.

Ndume hailed the gallant performance of the military and Civilian JTF, but said they were ill-equipped to carry out the task of eliminating the remaining insurgents operating

kept oil output policy unchanged including a plan to start raising output from December, while also emphasising the need for some members to make further cuts to compensate for overproduction.

Several ministers from the OPEC and allies led by Russia, or OPEC+ as the group is known, held an online joint ministerial monitoring committee meeting (JMMC) on Wednesday.

"The JMMC emphasised the critical importance of achieving full conformity and compensation," OPEC said in a statement after the meeting. "Furthermore, the Committee will continuously assess market conditions," the OPEC group said.

Oil prices dropped below $70 a barrel in September for the first time since 2021, but have since rallied above $75 on concerns a possible escalation in the Middle East following Iran's military attack on Israel could disrupt output from the region, Reuters reported.

OPEC+ is cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7 per cent of global demand, in a series of steps agreed

within the region.

The senator, who is currently in Benin Republic for an ECOWAS Parliament engagement, spoke by telephone with journalists yesterday in Abuja. He was reacting to the Boko Haram terrorist attack on Ngoshe, Gwoza Local Government Area of Borno State, on Monday.

Petroleum Engineer Urges Tinubu to Appoint Experts to Drive Oil, Gas Sector

Faults appointment of politicians

Peter Uzoho

As Nigerians await President Bola Tinubu's cabinet reshuffle, a renowned petroleum engineer, Dr. Ahmed Tijani, has advised the president to appoint oil and gas experts to man and drive the development of the nation's hydrocarbon industry.

He warned that efforts by the president to maximise the benefits of the oil industry for Nigeria’s economic growth would remain a mirage until competent managers are appointed to drive his vision for the sector.

Tijani, made the submission yesterday in Abuja at a public seminar hosted by Policy Advocacy Initiative (PAI), a non-governmental organisation, to mark Nigeria’s 64th independence anniversary.

The theme of the seminar was "Maximising Oil for National Prosperity.'

His call came on the heels of speculations of an imminent cabinet reshuffle by Tinubu to inject fresh impetus into the nation’s governance machinery.

“From day one, I do not doubt that President Tinubu has a clear vision to transform our petroleum industry given his own rich experience in the sector before a career switch to politics. But the trouble is that, as we have seen in the last fourteen months, he recruited the wrong personnel to help him achieve his vision,” said Tijani.

In his presentation at the forum, entitled “Nigeria’s Unending Oil Misery: What Needs to be Done,” Tijani spoke on a wide range of challenges militating against the nation’s petroleum industry.

The seminar drew attendance from experts from the finance sector, oil and gas industry, and academia.

To ensure that Nigeria's national interest was not short-changed, Tijani advocated that only thorough-bred professionals must be saddled with the management of the oil industry

rather than politicians with little or no clue.

He cited the recent public dispute between the Nigerian National Petroleum Company Limited (NNPC) and the Dangote Refinery over petrol price.

He also described the inability of Port Harcourt Refinery to begin production and supply of petrol several months after the supposed completion of turnaround maintenance (TAM) as a missed opportunity.

“Something is surely wrong when NNPCL gives a price for petrol and Dangote Refinery says something else and independent marketers later came out to tell us they paid far less for petrol from the same Dangote refinery. Something is fishy,” said Tijani.

He added: “In the last quarter of 2023, we witnessed the cutting of tape at the Port Harcourt refinery with fanfare over what they described as the technical completion of the rehabilitation with the promise that petrol would be available from the refinery by December of 2023 after over a billion dollar had been paid to a foreign company for repair.”

Tijani questioned the inability of the Port Harcourt Refinery to resume operation 10 months after its expected resumption of operation.

Lamenting the culture of placing partisanship above competence, he noted: “I listened to someone saying at the weekend on a live television that he got a sensitive job in the oil ministry through the anointing of a politician and I could not but laugh. That did not suggest that competence was the criteria.

“Two, that also did not suggest to me that the anointed nominee came into office with allegiance to President Tinubu’s vision, but to serve the interest of the person who had nominated him to the president."

Tijani added, “If I were President Tinubu, I will only appoint someone with a proven track record and

since late 2022.

The group plans a 180,000 bpd increase in December as part of a gradual unwinding of its most recent layer of voluntary cuts extending into 2025. The hike was delayed from October after prices slid.

Countries' compliance was in focus at the meeting, sources who attended said and is expected to remain so in coming weeks, particularly that of Iraq and Kazakhstan.

Those nations have promised what are known as compensation cuts of 123,000 bpd in September and more in later months to make up for their previous over-production.

Iraq, Kazakhstan and Russia told the meeting that they had delivered on their promised cuts in September, the OPEC statement said.

But this will have to be verified by the second week of October by secondary sources - the consultancies and price reporting agencies that the group uses for determining its members' output levels, the statement added.

The OPEC statement said: The Joint Ministerial Monitoring Committee

The terrorists had launched a fresh attack on the area, leading to the killing of six farmers and abduction of five others, including women.

It was learnt that during the attack, the commander of Civilian JTF in the area, Jubril Dada Zarana, was killed by the terrorists.

No military officer died, though they tried without success to repel the attackers.

The fresh attack came few weeks after the same terrorists killed many civilians in a bomb blast. Hundreds of civilians were also injured.

Ndume said the military superpowers also hired military contractors to aid them in warfare.

He listed the United States of America, Russia, United Kingdom, and France, among others, as countries that often engaged the services of military contractors.

exposure in IOCs to drive my vision in this all-important sector.

“Think of someone who understands the critical issues and who can negotiate the best bargain for Nigeria at the international table.”

The Israeli government has said UN officials, including Guterres, have failed to criticise attacks against Israel in strong enough terms, the New York Times reported.

“Anyone who cannot unequivocally condemn Iran’s heinous attack on Israel, as nearly all the countries of the world have done, does not deserve to set foot on Israeli soil,” Mr. Katz said in a statement on Wednesday. “Israel will continue to defend its citizens and uphold its national dignity with or without António Guterres,” he added.

But Guterres has repeatedly condemned the attack by Hamas on October 7 and demanded that all hostages taken from Israel that day be released. He condemned an Iranian missile and drone attack on Israel in April. At the same time, he has also repeatedly called for a cease-fire in Gaza and criticised what he called the collective punishment of Palestinians in the enclave.

Hours after the Israeli statement, Guterres told an emergency session of the UN Security Council that he condemned Iran’s attack.

“As I did in relation to the Iranian attack in April — and as should have been obvious yesterday in the context of the condemnation I expressed — I again strongly condemn yesterday’s massive missile attack by Iran on Israel,” he said.

“These attacks paradoxically do nothing to support the cause of the Palestinian people or reduce their suffering,” he said.

Following the Iranian missile attack against Israel on Tuesday

(JMMC) reviewed the crude oil production data for the months of July and August 2024 and current market conditions.

“During the meeting, the Republic of Iraq, the Republic of Kazakhstan, and the Russian Federation confirmed that they had achieved full conformity and compensation according to the schedules submitted for September.

The three countries reiterated their strong commitment to maintaining full conformity and compensation throughout the remaining period of the agreement.

“The final assessments of September crude oil production levels will be based on the approved secondary sources providing data on production of countries participating in Declaration of Cooperation (DoC), which will be available by the second week of October 2024.

“The JMMC emphasised the critical importance of achieving full conformity and compensation. It will continue to monitor adherence to the production adjustments agreed upon at the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM) held

the attacks, were being forced by Boko Haram terrorists to abandon their farm harvest at a time when the country was facing a serious food crisis.

The senator stated, “All across the world, governments hire the services of military contractors to engage in certain places. President Bola Ahmed Tinubu can consider this as a short-run measure. These contractors will work with our military and Civilian JTF, who understand the terrain.

“These contractors will come with their equipment and military hardware. In a very short time, they will eliminate those Boko Haram terrorists. The contractors can also be used to eliminate those bandits operating in the North-west.

In the long run, he said, ablebodied Nigerian youths could be drafted to raise the number of military men in the country to at least one million.

Ndume lamented that the farmers, who were the regular victims of

— which was largely thwarted — Guterres wrote in a post on social media: “I condemn the broadening of the Middle East conflict with escalation after escalation. This must stop. We absolutely need a cease-fire.”

It was not clear whether Katz’s statement was a direct response to that post by Guterres.

The Israeli government, which had previously called on Guterres to resign, has also said that the main UN agency that aids Palestinians in Gaza and the West Bank, UNRWA, employs many people who are linked to Hamas and other militant groups, and has called for the agency to be disbanded.

The United States and other governments have condemned Iran for the attack on Tuesday — which Tehran said was in retaliation for the assassinations of leaders of its proxy groups Hamas and Hezbollah — and said they would stand by Israel.

The Security Council was holding an emergency meeting to discuss the attack and the threat of a wider Middle East war.

Iran had Tuesday launched dozens of missiles toward Israel in what it said was a response to the killing of Hezbollah leader, Hassan Nasrallah, and others.

CNN teams on the ground in multiple locations across Israel observed dozens of missiles flying above them. Some were intercepted by Israel’s air defences, although it is not clear how many. Sirens sounded across the country, according to a

on 2 June 2024.

“ The Committee will also continue to monitor the additional voluntary production adjustments announced by some participating OPEC and nonOPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.

“The JMMC retains the authority to convene additional meetings or to request an OPEC and non-OPEC Ministerial Meeting, as established during the 37th ONOMM held on the 2 June 2024. The next meeting of the JMMC (57th) is scheduled for 01 December 2024,” it said.

of the Civilian Joint Task Force (JTF) in the area, Jubril Zarana, was killed in the attack.

Yakubu said the terrorists ambushed farmers on their farms, killed some of them, and abducted others.

He stated, “The Boko Haram terrorists released three women from which this information was obtained. The released women further stated that the victims were being kept hostage by the terrorists.

“Moreover, some people were still missing as at this time that we are talking, as a result of this incident. The people did not return to Ngoshe during the catastrophe, and as reported by the released women, they were not part of the ones abducted.”

“Over a period, the federal government can now recruit youths to join the military and raise the number to at least one million. In the interim, I think the president should consider this option of hiring military contractors.”

A councillor at Ngoshe ward, Gwoza Local Government Area, Filibus Yakubu, said the commander

statement from Israel’s military.

Israel’s military said its initial estimate was that Iran fired 180 “projectiles” at the country. Israel Defence Forces (IDF) spokesperson Rear Admiral Daniel Hagari said there were no injuries following the attack, adding this was not the first time Israel had faced a threat from Iran. “We are ready for them,” he said.

“There was a serious attack on us and there will be serious consequences,” Hagari said in a briefing.

Iran’s Islamic Revolutionary Guard Corps (IRGC) said it targeted

Yakubu lamented, “Our people are severely suffering due to lack of essential life support, but they have chosen to remain in their fatherland because of the love they have for it.

“The state government has really tried for our people, but NGOs and others are not providing us with food supplies.”

Israel in response to the killing of Nasrallah and others, according to Iran’s semi-official Tasnim news agency. After the attack subsided, the Israeli Prime Minister, Benjamin Netanyahu, said Iran "made a big mistake tonight, and will pay for it". Speaking at the opening of a cabinet meeting, the Israeli PM said Iran "does not understand" his country's "determination to retaliate" against its enemies. "They will understand," he said. "We will stand by the rule we established: whoever attacks us - we will attack," he reiterated

f G Unve I l S n e W fIS c A l Incen TI ve S T o Boo ST oI l, G AS Sec T or Order 2024 introduces exemptions on a range of key energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.

"These measures are designed to lower the cost of living, bolster energy security, and accelerate Nigeria's transition to cleaner energy sources.

"In addition, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production provides new tax reliefs for deep offshore projects.

“This initiative is aimed at positioning Nigeria's deep offshore basin as a premier destination for global oil and gas investments.

"These reforms are part of a

broader series of investment-driven policy initiatives championed by His Excellency, President Bola Ahmed Tinubu, in line with Policy Directives 40-42.

"They reflect the administration's strong commitment to fostering sustainable growth in the energy sector and enhancing Nigeria's global competitiveness in oil and gas production," the statement said. It stressed that, "with these bold initiatives, Nigeria is firmly on track to reclaim its position as a leader in the global oil and gas market," adding that "these fiscal incentives demonstrate the administration's unwavering commitment to fostering sustainable growth, enhancing energy security, and driving economic prosperity for all Nigerians."

President Bola Tinubu

Chuks Okocha and Sunday Aborisade in Abuja

Email: deji.elumoye@thisdaylive.com

At Last, Democracy Returns to the Grassroots in Anambra

David-Chyddy Eleke writes that amid complaints of shabby conduct of the poll, it is heartwarming that wards and local government councils in anambra State now have elected representatives.

Close to one decade after the last elected local council representatives in Anambra State served out their tenure, it sounds like reprieve again to know that once the newly elected councillors and chairmen are sworn in, democracy will once again return to the grassroots in full force.

The last local government election in the state was held in January, 2014 by the then governor, Mr Peter Obi. He swore them into office just two months before he handed over to his successor, Chief Willie Obiano on March 17, 2014. The elected council officials served for just two years before their tenure expired. But it can be predicted that because of the frosty relationship that existed between Obi and Obiano shortly after handover, the council officials may not have fully lived up, as they struggled between pleasing the one who engineered their election, and the new sheriff (Obiano) who just hit town then.

Since then, both Obiano who inherited elected council representatives from Obi and even Prof Charles Soludo, the incumbent governor have taken turns to handpick their cronies and have them sworn in for a three-month term, under the nomenclature of Transition Committee Chairmen for all the 21 local government areas. After every three months, a letter is forwarded to the Anambra State House of Assembly which renews their tenure for another three months.

And for every chairman or council member who is deemed not to be loyal, their names are replaced with more loyal individuals, and in that way, nine years have been wasted. The wastage is because the handpicked council representatives live and work under the dictates of the governor, who primarily takes their statutory allocation and gives them what is called running or overhead cost.

The story will change by this week, when Soludo swears in the newly elected local govenment chairmen and councillors. Anambra had last week Saturday held its local government elections amid complaints by opposition political parties.

After close to 11 years of the last election, and several clamours, Soludo in July, 2024 constituted a new board for Anambra State Independent Electoral Commission (ANSIEC), and within a week, the membership of the board was cleared by the House of Assembly, sworn in by the governor, and it immediately announced the conduct of the election which was held last

weekend.

Reacting to the announcement which was followed by swift amendment of the state electoral laws to aid them, various political parties boycotted the election. They included All Progressives Congress (APC) and Labour Party (LP), which also went to court to challenge the process.

In last weekend’s election, APGA won all the 21 Local Government chairmanship and 326 councillorship positions. This elicited reactions, including people who insisted that the election was below average, and least expected from Soludo, an erudite scholar.

A governorship aspirant of Labour Party (LP) for next year’s governorship contest in Anambra State, Mr John Nwosu in his verified X handle said: “The LG elections was a sham, statutorily manipulated and failed every test of credibility, transparency and inclusivity. The elections deserves close scrutiny for what it represents for Anambra State. It calls into question, if the incumbent governor, Prof. Charles Soludo is a true democrat and one who keeps his promises to our people.”

Meanwhile, the clean sweep of all the local government seats and wards by APGA has been attributed to the shabby nature of the conduct of the election. In Anaocha Local Government Area where the duo of Labour Party’s presidential candidate in the

2023 general election, Mr Peter Obi and Senator representing Anambra Central and Labour Party stalwart, Senator Victor Umeh hail from, Labour Party was assigned zero vote.

An indigene of the area, Mr Tony Ibe said: “We are aware that LP did not participate in the election, but that is not to say that one of two persons would not have mistakenly voted for them, especially as they are on the ballot. It truly looks like a sham election to believe that Senator Victor Umeh and Mr Peter Obi could not get even one vote in Anaocha.”

APGA and Soludo hold different views. The publicity secretary of APGA, Mr Ejimofor Opara while hailing the party for the clean sweep in the election said: “We congratulate the winners of the September 28th Local Government Elections in Anambra State! This resounding victory is a testament to the trust and confidence that Ndi Anambra have in APGA. Our party’s sweep of all 21 chairmanship positions and 326 councilorship seats is a clear indication that we are the party of choice for the good people of Anambra State. We extend our heartfelt gratitude to our National Leader, Prof. Soludo and National Chairman, Ezeokenwa, for their exceptional leadership and commitment to APGA’s success.

“Our party’s victory reflects the strong connection we have with the people of Anambra State. The elections were conducted peacefully and transparently, with APGA emerging as the clear winner. We pledge to continue delivering on our campaign promises and working tirelessly for the progress and development of Anambra State.”

Corroborating APGA’s stand, Soludo in an

The clean sweep of all the local government seats and wards by APGA has been attributed to the shabby nature of the conduct of the election. In Anaocha Local Government Area where the duo of Labour Party’s presidential candidate in the 2023 general election, Mr Peter Obi and Senator representing Anambra Central and Labour Party stalwart, Senator Victor Umeh hail from, Labour Party was assigned zero vote.

interview with mewsmen on election day said: “Today is a promise made and promise kept. We are holding the local government election to elect the chairmen of the 21 Local government areas and councillors for the 326 wards. This election is a foretaste of what to expect next year. From all the calls and feelers that I have gotten from all over the state, everything is going well. We have said it everywhere and to all Anambra people that this will be one good example that is conducted very transparently and creditably.”

Not minding the criticisms that have trailed the local government election, many believe that Soludo still deserves accolades for installing democracy back in the grassroots.

Also, an observer group, International Peace and Civic Responsibility Centre (IPCRC), amid the criticisms has pointed out areas that need to be improved upon. The group in a press conference addressed by the coordinator, Prince Chris Azor while giving details of its observation during the election commended Governor Soludo for his resilience in ensuring the conduct of the election.

He said: “We deployed over 100 observers in the state to monitor the election, and also co-opted several citizen observers across the state. Our observation is that the governor has done well in ensuring democracy at the grassroots, but the biggest room is the room for improvement. ANSIEC did well by also pulling it off, despite the shortness of time, but we think there are things that can be improved upon.

“We didn’t quite see the voters’ cubicle in most cases, and also the braille ballot for visually impaired persons. The idea is that this is an open secret ballot, open secret ballot in the sense that you get to see the person, but you don’t see where they voted, when they step into the voting cubicle, which is well away from the people. We do not want a case where a landlord will start quarreling with a tenant because the he felt that the tenant voted where he should not have voted.

“Also, there should be the braille ballot for people who are visually impaired, we have to accommodate them, but we didn’t quite see that. These are the things we want the ANSIEC to improve on. We recommend better strategic logistics management to forestall delays in commencement of polls. In future elections, there’s need to commence early voter education and citizen sensitization for improved voter turnout.”

Soludo

Obiano

Obi

UBA’s Evening of Influence and Impact at #UNGA79

At the cocktail reception of the United Bank for Africa held at the sidelines of the just concluded 79th United Nations General Assembly, UNGA79, themed “An Evening of Influence and Impact”, Chiemelie Ezeobi writes that the event highlighted Africa’s growing influence on the global stage while celebrating the bank’s 75 years of driving financial inclusion globally and the 40 years anniversary of UBA America

For 75 years, the United Bank for Africa Plc (UBA), has exhibited commitment in delivering exceptional service and driving global impact by building people, businesses, and communities, standing strong on a legacy of trust and unwavering dedication.

Known for its customer-centric policy, Africa’s global bank’s primary strategy is achieved through the deployment of three key levers – People, Process and Technology while emphasising the core values of Enterprise, Execution and Excellence.

With multiple awards over the years, the bank has continued to distinguish itself in the financial service industry across Africa, North America, Europe and the United Arab Emirates.

Therefore, to commemorate the 40 years anniversary of UBA America and the 75 years of UBA Group, the financial institution, last week held a Cocktail Reception at the sidelines of the just concluded 79th United Nations General Assembly (UNGA79) in New York City.

Held at The Pierre, A Taj Hotel in New York, the event came after the bank had series of insightful conversations and meaningful connections on Africa’s economic growth; empowering the next generation of young entrepreneurs; and also transforming energy for a more sustainable future.

Themed an “Evening of Influence and Impact”, the event highlighted Africa’s growing influence on the global stage while celebrating the bank’s 75 years of driving financial inclusion globally.

Hosted by the Group Chairman, Tony Elumelu, who led the charge of stepping up Africa on the global stage, the UBA Cocktail event was targeted at not just connecting global leaders but also shaping the future of Africa and the world at large.

The cocktail reception brought together

Elumelu’s

top global leaders, captains of industries, crème de la creme of the society and even policy makers in one room to network and chart a better course for the future of the globe.

According to the bank, the impactful conversations had at the cocktail are part of where Africa’s future on the global stage gets shaped. In attendance were the President of São Tomé and Principe, His Excellency Carlos Vila Nova; President of Sierra Leone, His Excellency Julius Maada Bio and wife, Fatima Jabbe-Bio; President of Gabon, His Excellency, Brice Oligui Nguema; President of Ghana, His Excellency Nana Akufo-Addo; President of Liberia, Joseph Boakai; Queen Maxima

of the Netherlands; and Director General, World Trade Organisation, Ngozi OkonjoIweala.

Also gracing the occasion was Africa’s richest person, Alhaji Aliko Dangote; Governor of Niger State, Governor Mohammed Umaru Baggo; Governor of Plateau State, Caleb Mutfwang; Minister of Women Affairs, Madam Uju Kennedy-Ohanenye; Minister of Communications and Digital Economy, Bosun Tijani; Minister of Youth and Sports Development of Nigeria, Jamila Bio Ibrahim; President of the African Export-Import Bank (Afreximbank), Okey Benedict Oramah; and CEO All On, Wiebe Boer.

The UBA team had the likes of Group Managing Director, UBA Group, Oliver Alawuba; CEO UBA Africa, Biola Bawuah; CEO UBA International, Sola Yomi Ajayi; UBA Group Director for Corporate Communications, Bola Atta; Ebele Ogbue, Group Head, Corporate and Energy Bank, UBA; and Alero Ladipo, Group Head, Marketing and Corporate Communications at UBA Group, and several others including Oge Elumelu of Conversations with Oge.

Others spotlighted were Nollywood veteran actress, Genevieve Nnaji; Founder of Ebony Life Group, Mo Abudu; Chairman of MTN Nigeria Plc, Dr Ernest Ndukwe; Chief Corporate Services Officer, MTN Nigeria Communications, Tobe Okigbo; American Businessperson, Bozoma Saint John; and President and Group CEO, Transcorp Group, Owen D. Omogiafo; amongst several others including Music Superstar, David, who had guests dancing to hits upon hits.

Earlier at UNGA, the bank had interfaced with global leaders and policy makers on the need to collectively foster progress, drive and invest in impactful change for Africa’s future and put the continent on the global state.

According to Elumelu, “There is a better way to invest in Africa for a sustainable future that creates value for all. “ This again was reiterated at the high level conservations Elumelu held with his team and policymakers across board to elevate Africa to the global stage.

The evening was truly one for the books in terms of exclusive networking, world-class entertainment, and impactful conversations, just as the UBA Group continues to commit “to the economic advancement of Africa, facilitation of Capital, Development and Investment flows to Africa, the eradication of poverty on the continent, empowerment of our youth through education, job creation, access to capital and access to markets”.

The

with David

Group Chairman, UBA Group, Tony Elumelu, flanked by Queen Máxima of the Netherlands and DG World Trade Organisation, Ngozi Okonjo-Iweala

GMD, UBA, Oliver Alawuba; First Lady of Sierra Leone, Fatima Jabbe-Bio; President of Sierra Leone, H.E. Julius Maada Bio; Group Chairman, UBA Group, Tony Elumelu, CFR; CEO, UBA Africa, Abiola Bawuah; and Executive Director/CEO, UBA International, Sola Yomi-Ajayi

Elumelu and Founder/President Dangote Group, Aliko Dangote

Bozoma Saint John; President of Ghana, H.E. Nana Akufo-Addo, and Tony Elumelu

ADEJARE THOMAS lists benefits of Sanwo-Olu’s trip to China

COMING BACK FROM CHINA

The crucial role Lagos plays in the economic stability and prosperity in Nigeria, and by extension West African nations, informed why the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu featured prominently in the delegation who joined President Bola Ahmed Tinubu to the Forum of Africa-China Cooperation in Beijing, the capital of China.

The global expanding economic frontiers of China as an economic world superpower is finding more expression in Africa, more than other regions of the world. As the emerging economies, most African nations, particularly Nigeria, has a long standing trade relationship with China. Lagos being the most prosperous and economically advanced state in Nigeria, has a more compelling reason why opportunities should be explored and harnessed for the advancement of the bustling city hosting over 22 million people.

Governor Sanwo-Olu, in a media chat on the sideline of the China trade talk, expressed optimism about the economic opportunities of the trip. While acknowledging and saluting the pragmatic leadership of President Tinubu, and the cooperation of the Chinese authorities, he said Lagos State will gain tremendously from the Memorandum of Understanding inked in China. The robust partnership between Lagos and Chinese companies that have helped in building road, rail and waterway infrastructure, among others, came to the fore.

He said, “ I want to thank him and thank the President of the People’s Republic of China, Xi Jinping, for opening up the country for all of us, for hosting President Bola Tinubu, and for what I would call, a very mutually beneficial relationship and visit to China.

“But, to speak specifically, standing in here as the Governor of Lagos State and what we believe we are taking back home, and like you rightly observed, we directly have been able to take some Memorandum of Understanding (MoU) forward and that we are taking back home.

“First, was the visit with President Tinubu to CRCC, the parent company for CCEC. There, we were able to sign an agreement because we had been having some conversations before then on constructing and developing a second Epe-Lekki bridge.

You would remember that about two years ago, we went on a massive reconstruction of the Lekki-Epe expressway, where we constructed – all the way to Ajah, up into six lanes in some places. But, when you get to the tail end of this whole development, Epe still has one bridge that crosses from Lekki to Epe.

“So, we are going to build a second bridge given the level of vehicular movement that would happen on that corridor with the refinery and with trucks, it’s now more than important that we build that second bridge. That is an agreement we have completed and we believe that will start very quickly when we get back home.”

Governor Sanwo-Olu who has performed remarkably well in the areas of Infrastructure and social services, also used the opportunity to alert Lagosians and other stakeholders on other great interventions that are underway. He said, “The other thing we signed with CCEC was something regarding energy transition which is where we have signed a collaborative engagement to power some facilities in our tertiary institutions – there are three of them, using solar panels which is part of the renewable energy component that we are talking about, getting power off the grid

and bringing about better efficiency in terms of greenhouse emissions, that is clean power that we will be installing in our universities. These are well-signed with China Civil Engineering Company in their parent office of China Railway Construction Company (CRCC)”.

The renewable energy drive that the governor is eyeing is another masterstroke that will open the massive economic potential of Lagos State.

On food security, which has become one of the major crises facing the nation today, Governor Sanwo-Olu was already seeking global partnership on how to deepen food security in Lagos State, and to ensure that over 22 million residents of the State do not go to bed hungry. On this critical note, a Memorandum of Understanding was signed between Lagos State Ministry of Agriculture and Wilmar, the world’s largest producer of Rice.

Speaking specifically on the MOU, the governor disclosed, “The second MoU is also critical. It is something regarding the food security of Lagos where the Ministry of Agriculture was able to sign an agreement with the biggest rice producing (commodity) company in the world, Wilmar Wilmar has a solution in China called ‘Karry&Quila’. They are also the biggest paddy producers and millers out of China.

“The strategic partnership there is around skills development. How do we ensure that we can improve the yield per hectare on our paddy growing capability in the State and the country? How do we encourage farmers, what are the seedlings, and the implements, what are the things that they need to do to improve the quality? We are not only trying to buy paddy, no, we actually want to transfer the technology back home where we will be able to develop those skills back in our space.

“There is going to be a lot of knowledge transfer, a lot of training and retraining. Somewhere along the line, there could also be procurement of paddy, and brown rice, based on the approvals we get from the federal government. That is also being wrapped up and we are very excited about that. Because, for us, food security in Lagos is a cardinal deliverable. We have seen the pressure around the challenge of food in the country. So, it is as important to us as we are building roads or we are building schools to ensure that we can feed our people and we can feed them well. The icing on the cake is the plan by the administration to enhance the existing train service assets and connect other parts of the state, particularly the Ibeju-Lekki corridor to train service.

By and large, the China trip was not a jamboree. Governor Sanwo-Olu came back with many juicy packages that will further improve the socio-economic conditions of the state.

Thomas writes from Abule-Egba, Lagos

All too often traditional titles are thrown around as confetti to scratch egoistic itch. The title for Atuekong Donald Obot Etiebet, pre-eminent geoscientist and IT geek, came from a different kind of consideration. His chieftaincy title, Atuekong, which translates literally as the head of the people’s army, speaks to his amazing persona on the life stage, his fighting spirit for the liberation of his people from all manner of shackles, and the untameable hunger in his belly to make a difference wherever he is.

For these and more reasons I’m at one with the Petroleum Club and all people of goodwill in celebrating the people’s general, the Atuekong of Akwa Abasi Ibom State, a dream-maker, an epitome of excellence and a man of vision, as he marks three score years and ten plus ten on earth. A man whose heart beats with so much goodness, Etiebet has in the course of his illustrious career reached out and lifted countless homes and families with jobs and mentoring for their bread winners, laying out a huge personal fortune—through endowments, scholarships, prizes, donations and sponsorships—for the benefit of many across the nation. A personal fortune he built by dint of hard work through a business empire stretching across real estate, oil and gas, banking, education, as well as information and communication technology (ICT)!

For years his IT company, Data Sciences, was an incubator for skill acquisition and leadership training. So many people in leadership positions today in Akwa Ibom State and across the country learned at Etiebet’s feet in Data Sciences. Etiebet’s positive impact has graced my family—so I should know—just as he has impacted many other families around the country. There are therefore compelling personal reasons for a host of grateful folks to celebrate with him on this very happy occasion of his birthday. We celebrate and thank God that we have him as a blessing at a personal level, and even more so as a bigger blessing for the country.

For the country, Etiebet offers a luminous profile in exemplary leadership. This is not to be taken lightly. The question of leadership in the world’s most populous black nation, Nigeria, is just so elemental it deserves every shred of interest. I agree wholly with Chinua Achebe that the trouble with Nigeria is the problem of leadership. So when a man like Atuekong Etiebet comes along with a sterling private sector record as a business leader, and serves in the public sector as Petroleum Minister creditably, not singed by the sludge of sleaze, then we simply have a perfect case study in desirable and effective leadership.

For country, Etiebet’s outstanding achievements are many. He it was who cracked the conundrum that held back the consummation of the Nigerian Liquefied Natural Gas (NLNG) project by nudging the Federal Authorities away from hankering after keeping the controlling shares in the investment, a policy stance that had proven to be the stumbling block to the realisation of the project for years. By his common-sense leadership and power of vision the nation built the NLNG which is today a bellwether for the national treasury. It was also during his tenure as Petroleum Minister that the Petroleum Trust Fund was established as a major interventionist agency used to address serious infrastructure and human capital deficits in many sectors of the society, particularly in tertiary education.

As Minister, Etiebet oversaw the roll-out of a range of other farsighted reforms in the petroleum sector that have since served as the defining features of the industry. They include deep offshore exploration and drilling—a slice of the sector that still retains the interest of relocating oil majors; introduction of the country’s first instance of monetisation policy in the Nigerian National Petroleum Corporation (NNPC); and the streamlining of operational processes in the then Department of Petroleum Resources to tame its unwieldy bureaucracy and optimise productivity and efficiency in that critical department in the Ministry

of Petroleum and Mineral Resources at the time. He equally promoted the policy of local content to domesticate the oil and gas industry and integrate it with the local economy. The local content policy would later crystallise in the establishment of the Nigerian Content Development and Monitoring Board in 2010 during the Obasanjo presidency, a culmination of a policy articulation that has been a shot in the arm for local players in the oil and gas industry.

Etiebet’s leadership impact is not limited to his pathfinding work in the private sector; nor is it to his transformational policy initiatives and execution in government at the federal level. At

the state level in Akwa Ibom and at the regional stage in the Niger Delta, Etiebet lived up to his stripes as Atuekong when he joined forces with his compatriots that include but are not limited to His Excellency Obong Victor Attah, Senator Udoma Udo Udoma, Obong Umana Okon Umana, Senator Effiong Bob, Senator James Akpanudoedehe, Senator Aloysius Etok, Senator Ita Enang and other champions of equity in the country to fight and win the resource control battle. The resource control victory against a most vicious asphyxiation of a region of the country has provided a source of much-needed development and sustenance for the Niger Delta—though there appears to be a consensus that in spite of the victorious battle against the plot of entrenched interests to deny the region the benefits due to it from its natural resources, the real war for the common ownership and equitable enjoyment of those resources delivered through the 13 percent derivation funds is still raging.

Etiebet is indeed a general leading the way for his people in many theatres of their struggle. His leadership does not show through only in interpersonal relationships and in business. It has been particularly demonstrated in politics. Etiebet’s footprints are unmistakeable in every political epoch and in every major political movement in the country in the last 30 years. During the efforts to disengage from military rule, Etiebet formed and funded the National Centre Party of Nigeria (NCPN) as a platform with which to rally like minds and steer a centrist path on a political rescue mission. But as it’s well known the uncertainties and duplicity of those times guaranteed that the NCPN faced no fate different from what befell all political efforts of that period. In 1997 or thereabouts, there was another political sunshine moment on the tortuous road to freedom from a wearingly long military rule. Again, Etiebet huddled up with others to form the People’s Democratic Party (PDP) that went on to win the 1999 general elections and formed the central government led by President Olusegun Obasanjo.

Otongaran writes from Lagos

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

REFORMING THE LIVESTOCK SECTOR

Reforms are in order. But there is no need for a new ministry

The Presidential Livestock Reform Committee recently submitted its report to President Bola Tinubu, declaring that the most viable solution to the farmer-herder crisis in the country is a combination of both ranching and open grazing. “You cannot wake up tomorrow and have only ranching because there is already a large portion of the population involved in traditional pastoral activities,” said the committee’s co-chairman, Attahiru Jega. The committee suggested a 10-year implementation timeline to achieve incremental positive changes in the livestock sector. Expectedly, the committee also recommended the creation of a Federal Ministry of Livestock Development, which incidentally will add to the cost of governance.

Nigeria’s farmer-herder crisis, more pronounced in the North-Central region, has persisted for over two decades, claiming thousands of lives since 2001. Desert encroachment in the north has forced nomadic herders to move southwards in search of greener pastures for their cattle, resulting in fierce competition for resources with farmers. Thus, modernising the livestock sector is key to resolving the herder-farmer violence, which often threatens the country’s political stability and food security.

ral grazing areas (RUGA), and the National Livestock Transformation Plan (NLTP) in futile attempts to find a lasting solution. In the meantime, the current cattle rearing practice in Nigeria is extremely unproductive. It negatively affects the quality of our cattle in terms of weight, milk production, and even the quantity and quality of meat. Whereas products like cheese, butter, and milk are everyday staples in Nigerian homes, and whereas the hides and skin are key to the shoe and luxury goods industry, Nigeria imports almost everything.

In times of lean resources, when the country is practically living from hand to mouth, it is foolhardy to further push up the cost of governance through unnecessary ministry

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

While inaugurating the committee last July President Tinubu announced that its work should lead to increased meat and dairy production and reduce the violence between herders and farmers across the states. In 2019, federal authorities had launched a 10year National Livestock Transformation Plan to curtail the movement of cattle, boost livestock production and quell the country’s deadly herder-farmer conflict. But lack of political will, funding uncertainties and other factors conspired to derail the project.

We therefore endorse ideas aimed at proffering sustainable solutions that will contain the spiral of violence between farmers and herdsmen in various theatres across the country. For years, the federal government has groped from grazing reserves to cattle colonies, ru-

THE OMBUDSMAN KAYODE KOMOLAFE

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

There is no doubt that a faithful execution of livestock reforms in addition to enhancing peaceful relationship between herdsmen and other nationalities can help revolutionise the nation’s animal husbandry. And while admitting that the culture of nomadic cattle rearing is more or less ingrained, we do not need a decade to transit to cattle ranching. In the past few years, some states in the country have openly welcomed the idea. Some other countries did it in less than five years.

Time has come to emulate countries like Australia, Singapore and Israel where the industry has since been modernised, with tremendous outcomes for their highly exportable meat and milk production. What we need is a national programme of re-orientation, empowerment and complete modernisation of our cattle economy to become more settled. We need large modern farms with the cattle in dedicated shelter and cared for by thousands of re-trained former cattle rearers. This would provide massive employment, create new skill sets and eliminate these ancient bloody skirmishes that increase our national security nightmares. Besides, the livestock sector does not need a new ministry.

The country is too economically constrained to embark on such an expensive exercise. In times of lean resources, when the country is practically living from hand to mouth, it is foolhardy to further push up the cost of governance through unnecessary ministry. The Ministry of Agriculture is big enough to accommodate all reforms that will arise from the livestock reforms.

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

IMO STATE AND PUBLIC EDUCATION

From all indications, it does appear that public education particularly in the basic and secondary levels is going into extinction in Imo State under the leadership of Governor Hope Uzodimma. Governor Uzodimma has the unpleasant record as the one and only governor in Nigeria yet to employ primary and secondary schools teachers for the past five years.

Some other governors in the country who became governors long after Uzodimma had become one have all employed teachers to equip and boost public education in their various states. For instance, Governor Chukwuma Soludo of Anambra State employed over five thousand teachers for the public schools in the state within the first year of his administration after he became a governor in 2022.

In Imo State, Governor Uzodimma has been in the saddle since January 2020, yet not a single teacher has been employed to mitigate the effects of the dearth of quality teachers in the state's primary and secondary schools. His predecessors made some reasonable efforts to equip the public schools by employing teachers. For instance, Rochas Okorocha, even with all his abracadabra style of governance, employed teachers, and that was the last time teachers were recruited in the state. Almost all the leadership of this country today at various levels are products of the public education system. Why then are

they neglecting the public schools especially in Imo State?

The common entrance examination is usually the aptitude test used to evaluate the performances of pupils seeking admission into public secondary schools. However, this important common entrance examination has not successfully taken place in Imo State for the past two years at least. September which is usually the beginning of the new academic year, yet the examination that ordinarily was supposed to take place in July has not taken place in Imo State among all the 36 states in the country. This writer also learned that the results of last year's common entrance examination are yet to be released for pupils who wrote the examination since last year for admission into public secondary schools. For Christ's sake, what is the difficulty in setting simple examinations for pupils in primary schools who are seeking admissions to secondary schools?

What actually does the Imo State ministry of education particularly the basic and secondary section of the ministry do? What does the staff of this ministry, directors, permanent secretary and the commissioner do in their offices? How can they fail in the simplest task of setting simple examinations for pupils in primary schools in the state?

If the task falls within the purview or jurisdiction of the Imo State

Universal Basic Education Board (IMSUBEB), why has the board not performed this task? Why is the board without a substantive chairman nine months after the exit of the former chairman?

The decay of public education in the state gives impetus to the proliferation of substandard private schools in the state. Must every child be forced to seek admission in private school even if the parents can't afford it? No responsible government will allow its public education to go into extinction in order to promote private entrepreneurs masquerading as proprietors of private schools.

The state government ostensibly recruited about 5000 teachers since last year. Regrettably, the recruitment seems to have gone into voicemail and has been gathering dust at Government House even when public primary and secondary schools have been bereft of adequate teachers.

Recently, the Imo State House of Assembly passed a motion to check unregistered private schools in the state. It's a good motion but how can they reign in unregistered private schools when public education is gradually going to extinction in the state? The decrepit infrastructure in public education is an eye sore.

Ifeany Maduako, Owerri via ifeanyimaduako2017@gmail.com

polity

How Hannatu Musawa Secured Afreximbank’s $200 Million Funding at UNGA79

At the just concluded United Nations General Assembly (UNGA79), the Nigerian delegation from the Ministry of Arts, Culture, and the Creative Economy made significant breakthroughs, writes Emmanuel Addeh

In a striking display of cultural brilliance and creative power, Nigeria triggered global investors’ attention at the “Destination 2030: Nigeria Everywhere” event, held during the United Nations General Assembly (UNGA) in New York.

The event, organised by Nigeria’s Ministry of Arts, Culture, and the Creative Economy, celebrated the nation’s vibrant artistic heritage, culinary excellence, and increasing influence in the global creative economy.

It further marked a significant milestone in Nigeria’s soft power strategy, part of the broader vision set by the government to expand the economy and elevate the nation’s global presence through its cultural assets.

Under the banner of “Destination 2030,” Nigeria aims to assert its cultural influence and strengthen its position as a leading creative hub, while significantly contributing to global cultural diplomacy and spurring economic growth.

The “Destination 2030” event was a vibrant celebration of Nigeria’s rich cultural tapestry.

It included a captivating art exhibition that paid homage to Nigeria’s legacy of artistic innovation.

Chef Tolu “Eros” Erogbogbo delighted guests with a culinary experience that spotlighted Nigeria’s diverse and flavourful cuisine, and two dynamic panel discussions explored Nigeria’s rising influence in the global music and film industries.

The evening also featured performances by Dami Oniru and the legendary D’banj, cementing Nigeria’s reputation as a musical powerhouse.

In her keynote address, Minister of Arts, Culture, and the Creative Economy, Hannatu Musawa, outlined Nigeria’s ambitious goals for its creative economy.

She emphasised the critical role of global partnerships in driving the country’s vision

forward, stating that: “Destination 2030: Nigeria Everywhere” remains Nigeria’s roadmap to transforming the country into a global cultural powerhouse.

“To fully realise this vision, I urge investors, development partners, and global collaborators to join us in creating 2 million jobs and contributing $100 billion to the national Gross Domestic Product

(GDP),” she stated.

A crucial component of the Destination 2030 vision is the ministry’s partnership with the African Export–Import Bank (Afrexim Bank).

Accordingly, President and Chairman of Afreximbank, Prof. Benedict Oramah, took the stage to highlight the bank’s commitment to Nigeria’s creative industries.

He announced a $200 million financing facility aimed at supporting the ministry’s new initiatives, stressing that “investing in the creative industries is about building a foundation for sustainable economic growth and positioning Africa as a global cultural leader.”

Central to the “Destination 2030” initiative is Nigeria’s goal to establish itself as a global soft power leader by 2030, it was learnt.

Notably, President Bola Tinubu had set clear Key Performance Indicators (KPIs) and deliverables for this vision, which include positioning Nigeria as a top cultural influencer and improving its global brand perception.

As of 2024, the ministry reported a 36 per cent increase in Nigeria’s Cultural Influence alongside an 18 per cent increase in the Brand Perception Index, reflecting the positive reception of Nigeria’s cultural diplomacy efforts on the global stage.

Global soft power has become an essential component of modern diplomacy, with countries like South Korea and Japan leveraging their cultural assets to build influence and shape perceptions worldwide. South Korea’s K-pop and Japanese anime are prime examples of how cultural products can drive a country’s global influence, generating economic value and improving diplomatic relations.

Nigeria’s “Destination 2030” initiative is modelled on such successes, aiming to harness the country’s cultural resources to create a powerful narrative that resonates internationally.

By positioning itself as a leader in arts and culture, Nigeria is not only promoting its creative economy but also enhancing its political and diplomatic leverage.

In addition to the “Destination 2030” event, Musawa engaged in several high-level meetings on the sidelines of UNGA to bolster Nigeria’s cultural and creative ambitions.

In discussions with UN Deputy Secretary General, Amina Mohammed and the Executive Director of the UN Office for Partnerships (UNOP), explored aligning Nigeria’s cultural initiatives with the UN’s Sustainable Development Goals (SDGs).

A meeting with US State Department Under Secretary for Public Diplomacy, Lee Satterfield addressed the ministers’ eight-point plan and potential US support for Nigeria’s creative industries. Additionally, bilateral talks with Faisal Alibrahim, Saudi Arabia’s Minister of Economy and Planning, led to an agreement to foster collaboration in the creative sectors of both nations.

Commenting on the investment strides, Oramah said: “As a proud Nigerian and African, I observe with admiration the phenomenon of ‘Nigeria Everywhere’ as I traverse the globe. From New York to Hong Kong, Copenhagen to Cape Town and Lisbon to Lima.”.

The future of Nigeria’s soft power strategy hinges on intentionally leveraging this growing global acceptance of Nigeria’s cultural product through robust initiatives such as “Destination 2030” and the strategic partnerships cultivated during global gatherings like UNGA. By investing in its cultural assets—whether through the revitalisation of the National Theatre or initiatives such as CLAP which seeks to nurture young talent—Nigeria is establishing itself as a creative powerhouse poised to drive economic growth and shape global narratives

New Challenges Put the Bretton Woods Institutions at a Crossroads

With the world in fresh crisis, bold action is again needed from the IMF and World Bank.

Just over 80 years ago, delegates from 44 nations met in bucolic Bretton Woods in New Hampshire. Freed from big city distractions, they agreed over three exhausting weeks the treaties that were to establish two world-changing institutions, the IMF and World Bank. Kristalina Georgieva and Ajay Banga, the current heads of the two bodies, took a small group of us back there last week to begin a discussion on where next for the Bretton Woods institutions. For a world again in crisis, what can they do to help it recover? Unlike that first conference, whose isolation helped limit developing country and civil society participation, this retreat was meant to begin a wider global debate. The more voices the better.

Expectations are low for multilateralism today in a fragmented world. But many delegates had dodged German U-boats to get to the 1944 conference. The world was far from at peace. Still, the legend was established: statesmanship prevailed and politics seemed suspended. But is that true? In fact, they were consumed by geopolitical rifts that were not dissimilar from those of today. The Soviets were scowling spoilers on the sidelines. The US had a bee in its bonnet that pre-Mao China must be the fourth largest shareholder — for which there was no economic rationale. The Europeans were convinced the Americans were out to break them on war loans. The handful of developing countries present felt that funding for their advancement was being ignored in favour of Europe’s reconstruction. All the delegates wanted a bigger shareholding than the drafters proposed. In sum, much like today’s messy multilateral negotiations. Yet war evidently focused minds. Today, a set of new challenges threatens to lay humanity low.

The biggest — climate, inequality, and migration — are inherently uncontainable within national

borders. As we race through the climate tipping points, water levels could threaten cities from New York to Lagos, Manila to Dubai. Migration is overwhelming politics in a number of countries. More than 40 per cent of people live in nations where spending on public debt repayments exceeds that on health or education.

But the world seems caught on a path of low global growth and inflationary pressures that remove the capacity to take on these challenges, and a broken politics that diminishes the will to even do so. The same conventional wisdom that says a war was needed to spark bold action in 1944, today argues the contrary: conflicts in Ukraine and the Middle East leave the world too divided to show similar resolution.

US-China competition, the rise of middle powers such as India and Brazil and a healthy reluctance of smaller countries to be herded into superpower blocs have compounded a sense of global ungovernability. Economics may, however, be a bit easier than politics. Democrats and autocrats

alike need growth, investment and financial stability.

The BWIs rightly have their critics, but they are the leading international public providers of finance, advice and surveillance. Today, as their relative influence declines in an enlarged global economy, the BWIs are at a crossroads.

The UN has called for their revamp. They have had a mixed life cycle of effective post-world war stabilisation. US-Soviet tensions rose. Amid decolonisation and modern state building they became associated with unpopular economic adjustment programmes. A 20-year spurt in global poverty reduction eased the criticism but lost momentum some 15 years ago. Years of drift have followed as health, education and quality-of-life indicators have in many cases gone into reverse.

We want to take the conversation we began last week to town halls and social media audiences around the globe: what can these institutions do to help the world? We have questions around the BWIs’ priorities, governance, economic model,

relationships with their country borrowers and partner networks. These must be boldly answered if they are to enjoy the trust and authority to help redirect us back to resilience and growth. Their two leaders have the vision to do just that but the BWIs need to exhibit responsiveness, ambition and accountability in a world no longer shaped disproportionately by a small western male elite. There was only one woman delegate at that original New Hampshire hilltop gathering. The guns didn’t stop when the first Bretton Woods conference occurred and tragically they may not now as we reach out for ideas for our shared future. As in 1944, that shouldn’t stop us. But this time it’s a conversation for all of us.

•The writer is a former senior UN and World Bank official and a member of the external advisory panel to the Bretton Woods institutions, together with Patrick Achi, former prime minister of Côte d’Ivoire, and Sri Mulyani Indrawati, outgoing finance minister of Indonesia Culled from Financial

Mark Malloch-Brown

Times

Hannatu Musawa

Aliko Dangote and CBN Governor, Yemi Cardoso were the only Nigerians invited to IMF, Bretton Woods and World Bank Group’s historic High-Level Retreat in New Hampshire, United States … recently

V i EW FR o M ABR oAD

How Industry Growth, Rising Energy Consumption Put Pressure on Global Tech Sector Sustainability Drive

Emma Okonji

A report co-authored by the International Telecommunication Union (ITU) and the World Benchmarking Alliance (WBA), has revealed that energy consumption of the digital technology sector is growing with global demand for hardware, network services, data storage and emerging technologies.

The report explained that Greenhouse gas (GHG) emissions and energy consumption in the global tech sector increased, while transparency and accountability remained a challenge, thus putting pressure on the global tech sector’s digital growth and environmental sustainability drive.

The report tagged ‘Greening Digital Companies 2024’ offers insights and best practices to help tech companies worldwide accelerate their emissions

reductions, achieve low-carbon operations, and improve climate reporting.

Giving details of the report, ITU Secretary-General, Doreen Bogdan-Martin, said: “The report is an important tool for understanding where to focus efforts to maximise digital technology’s immense potential to advance sustainability in the face of climate change for the digital future we want. The report’s findings formulate a clear call for action for leaders gathering at the upcoming UN Climate Conference in Baku, Azerbaijan for the Green Digital Action meeting at COP29’s landmark Digitalisation Day.”

To advance sustainable development, industry must monitor and address its own environmental challenges, including carbon emissions, energy and water consumption, e-waste, and rawmaterial depletion, the report said.

Greening Digital Companies 2024 evaluates the greenhouse gas emissions and energy use of 200 leading digital companies around the world.

Of the 200 companies covered in the report, 148 reported electricity consumption totaling 518 terawatt-hours (TWh) in 2022, about 1.9 per cent of the world total. The 10 companies with the highest consumption levels, all headquartered in East Asia and the United States, consumed 51 per cent of this total, which is nine per cent higher than in 2021.

The report provides the first comprehensive overview of corporate value-chain emissions. Often referred to as ‘Scope 3’, they make up most of the emission footprints of digital companies. Scope 3 emissions include everything from material suppliers and outsourced device production

to the use of a company’s endproducts by consumers. Such end-products range from cell phones and computers to search engines and AI chatbots.

On average, these emissions are six times greater than the combined Scope 1 and Scope 2 emissions that a company produces itself or is responsible for indirectly, according to the report.

Many companies struggle to accurately calculate and attribute their Scope 3 emissions, with common challenges including lack of data from suppliers, double counting, and inconsistent application of emission-allocation principles, the report added.

Analysing the report, the Director of Research and Digitisation at the World Benchmarking Alliance, Lourdes O. Montenegro, said: “Digital companies need to do their

part in the fight against climate change. The report uniquely offers evidence-based insights on the sector’s state of play. We are bringing these data and insights to the attention of the international community to help ensure that the impact on people and planet is consequential to success in business.”

Director of the ITU’s Telecommunication Development Bureau, Cosmas Luckyson Zavazava, said: “From the development point of view, it is increasingly important for industry players to more closely monitor their own greenhouse gas emissions and act to reduce emissions and energy use. GHG impacts can be devastating and include extreme and changing weather patterns and rising sea levels. If left unchecked, climate change will undo part of the

development progress of the past. Governments can support the tech industry’s efforts to balance innovation with sustainability, fostering a twin transition towards digital growth and environmental responsibility.”

According to the report, the rapid growth of Artificial Intelligence (AI) technologies will further strain energy resources and keep adding to emissions. The report however noted the contributions that AI and other transformative technologies could make to support sustainable development.

To help digital companies meet sustainability goals, Greening Digital Companies 2024 underscores the role of governments in implementing monitoring frameworks and accelerating the availability of green energy.

Emma Okonji

Sophos, a global leader of innovative security solutions for defeating cyberattacks, has released a sector survey report, tagged: ‘The State of Ransomware in Healthcare 2024’, which revealed that the global rate of ransomware attacks against healthcare organisations has reached a four-year high since 2021.

According to the report, of those organisations surveyed, two-thirds (67 per cent) were impacted by

ransomware attacks in the past year, up from 60 per cent in 2023. The rising rate of ransomware attacks against healthcare institutions contrasts with the declining rate of ransomware attacks across sectors, as the overall rate of ransomware attacks fell from 66 per cent in 2023 to 59 per cent in 2024.

Alongside an increase in the rate of ransomware attacks, the healthcare sector reported increasingly longer recovery times. Only 22 per cent of ransomware

victims fully recovered in a week or less, a considerable drop from the 47 per cent reported in 2023 and 54 per cent in 2022. In addition, 37 per cent took more than a month to recover, up from 28 per cent in 2023, reflecting the increased severity and complexity of attacks, the report further said.

Analysing the report, Field CTO at Sophos, John Shier, said: “While we’ve seen the rate of ransomware attacks reach a kind of ‘homeostasis’ or even declining across industries, attacks against

healthcare organisations continue to intensify, both in number and scope. The highly sensitive nature of healthcare information and need for accessibility will always place a bullseye on the healthcare industry from cybercriminals. Unfortunately, cybercriminals have learned that few healthcare organisations are prepared to respond to these attacks, demonstrated by increasingly longer recovery times. These attacks can have immense ripple effects, as we have seen this year

with major ransomware attacks impacting the healthcare industry and impacting patient care.”

To combat these determined adversaries, healthcare organisations must adopt a more proactive, human-led approach to threat detection and response, combining advanced technology with continuous monitoring to stay ahead of attackers, the report further said, adding that compromised credentials and exploited vulnerabilities are the root causes of attack, each accounting

for 34 per cent of attacks. The latest Sophos report on real-world ransomware experiences explores the full victim journey, from attack rate and root cause to operational impact and business outcomes, of 402 healthcare organisations. The results for this sector survey report are part of a broader, vendor-agnostic survey of 5,000 cybersecurity/IT leaders conducted between January and February 2024 across 14 countries and 15 industry sectors.

Okupe: Eko Revenue Summit Will Enhance Lagos Transformation

Chief Executive Officer of Modo Ante, the firm at the forefront of the Eko Revenue Plus Summit (ERPS), Joko Okupe, speaks to Raheem Akingbolu on various initiatives aimed at transforming revenue generation in Lagos State through innovation, technology, and strategic Public-Private Partnerships.

Can you provide an overview of the Eko Revenue Plus Summit and its objectives?

The Eko Revenue Plus Summit (ERPS) is designed to be a transformative platform for both public and private sector leaders. Its primary goal is to identify and unlock new revenue streams in key sectors like the Property Sector, Digital Economy, Informal Sector, Circular Economy, and Energy Sector. Our focus is not just on expanding the tax base but on creating sustainable value exchange systems that benefit both the government and the private sector as well as improve the life and livelihood of Lagosian.

The initiative was inspired by the need to address Lagos State’s growing infrastructure demands and budgetary constraints. The government cannot rely solely on traditional tax methods to meet these needs, so we are looking at how innovation, technology, and PPPs can unlock new revenue sources and drive sustainable economic growth.

How is the Eko Revenue Plus Summit different from other investment and economic summits held in Lagos?

What sets ERPS 2024 apart is its focus on real outcomes. Unlike other summits where discussions often remain theoretical, this summit is designed to lead directly to project activation. One of the standout features is our Post-Summit Round Table, where we will work with technical partners, investors, and government agencies to fast-track the implementation of the ideas and initiatives discussed.

Additionally, the Lagos State government through the office of Special Adviser on Taxation and Revenue in collaboration with other MDA is establishing a Project Facilitation Help Desk to ensure that projects stemming from the summit are not bogged down by public sector bureaucracy. We are also planning to release an Investment Opportunities Playbook post-summit, to help guide investors and technical partners through the various opportunities identified in the summit.

The summit focuses on the Property Sector, Digital Economy, Informal Sector, Circular

Could you elaborate on how these sectors will contribute to Lagos’ revenue growth?

Yes, because these sectors represent the future of Lagos State’s revenue base. Let’s start with the property Sector. With a property market valued at over $500 billion, digitalizing property management, building new smart cities and improving land use charge systems will enhance efficiency and unlock new investments. In the area of digital economy, Nigeria’s digital economy is projected to exceed $88 billion by 2027, and Lagos will drive much of this growth. Investments in fintech, e-commerce, and digital platforms can turn the digital economy into a

major revenue contributor

Of course, the Informal Sector is huge too because it contributes over 60% of Nigeria’s GDP. By formalizing this sector through digital platforms and financial inclusion initiatives, Lagos can harness its vast untapped potential. Another important feature of the summit is the circular Economy. Globally, the circular economy is gaining traction. The world is discussing Urban Mining of Waste, and Lagos can lead Africa in this space by adopting sustainable practices that minimize waste and generate revenue from recycling, waste-to-energy, and carbon credits. From there we can be talking of the Energy Sector because Lagos’s push for renewable energy projects and waste-to-energy solutions will not only reduce energy deficits but will also generate income from clean energy initiatives.

How does the summit plan to harness innovation and technology to generate revenue without imposing additional tax burdens on citizens?

One of the core pillars of ERPS 2024 is leveraging technology, data harmonization and innovation to improve efficiency and expand the tax base without burdening citizens. For instance, in the Property Sector, we are looking at digital platforms for property enumeration, digital property management, and automated land use charge collections. These systems will help streamline revenue collection while also providing investment opportunities for private players and unlocking dead capital trapped in property within adequate ownership title.

In the Digital Economy, initiatives like data monetization, e-commerce platforms, smart iOT network and fintech solutions can generate revenue by offering services that attract both businesses and residents without increasing taxes. We are also exploring blockchain, AI, and data analytics as tools to optimize revenue collection and reduce inefficiencies.

Public-Private Partnerships (PPPs) are at

the heart of this summit. Could you explain how PPPs will be utilized to drive revenue generation in Lagos State?

Public-Private Partnerships (PPPs) play a critical role in our strategy. Through PPPs, we can leverage private sector expertise, efficiency, and capital while the government provides regulatory frameworks and support. For example, in the Energy Sector, PPPs can drive renewable energy projects like solar farms and waste-to-energy plants. These projects will not only address Lagos’s energy deficit but also generate significant revenue streams by selling power to businesses and residents.

In the Property Sector, PPPs can help fund largescale housing projects, smart city developments, business cluster development, housing schemes for registered cooperative and even property bill harmonization platforms. By incentivizing private sector investments, we can unlock revenue without relying solely on taxes.

How do you see the informal economy contributing to the State’s revenue base, and what strategies are in place to formalise this sector?

The informal sector in Lagos is massive. It is estimated that over 80% of Lagos’ workforce operates in the informal sector, and while this segment drives significant economic activity, it is often difficult for the government to capture revenue from their activities. To unlock this potential, we are focusing on formalizing the sector through digital platforms and financial inclusion initiatives. By partnering with fintech companies and implementing social impact initiatives, we aim to create a supportive environment for informal businesses to transition to the formal sector.

In addition, these partnerships will also facilitate access to essential services such as micro-pension, micro-insurance, and micro-lending programs. We envision a private sector-led effort, in collaboration with the government, to extend social impact initiatives that connect informal workers to healthcare and education services.

Akinrinmade: Building Capacity in STEM Education Will Boost Devt

Executive Director and Chief Finance Officer at Petralon Energy Limited, Adeola Akinrinmade, speaks about the motive behind the creation of the Future Leaders Programe and how it has enhanced technology innovation among students of tertiary institutions in developing special skills that will foster educational excellence for national development. Emma Okonji presents the excerpts:

How will you describe the Future Leaders Program (FLP) and what was the motivation for its creation?

Ahe Future Leaders Program (FLP) is an initiative launched by Petralon Energy Limited aimed at nurturing emerging talent from Nigeria’s top universities renowned for their Science, Technology, Engineering and Mathematics (STEM) programs, including the University of Port Harcourt, Federal University of Petroleum Resources - Effurun, University of Benin, University of Uyo, University of Ibadan, and my Great alma mater Obafemi Awolowo University, Ile-Ife. Our program seeks to foster educational excellence, develop leadership skills early on, promote innovative thinking, and encourage a progressive mindset in promising young Nigerians by supporting their learning journeys and equipping them with the technical and soft skills required to thrive in a dynamic energy landscape.

Petralon recognises the importance of investing in the next generation of leaders to ensure Nigeria can fully harness its energy resources sustainably. We launched the FLP as a strong advocate for shaping the future of energy in Nigeria and indeed Africa by developing local talent in a way that transcends traditional boundaries, ensuring that young talent is groomed, nurtured, and guided into becoming thought-leaders who will drive Nigeria’s energy sector to new heights in the years to come.

Why did Petralon choose to champion STEM students through its FLP program and what does Petralon hope to achieve through the program?

STEM, which stands for Science, Technology, Engineering, and Mathemetics, remains a crucial foundation for economic development, especially in Nigeria, given its wealth of natural resources. However, we are alarmingly behind in progressing STEM by developing the talent and providing the platforms needed to achieve the much-needed development on the continent. It is estimated that more than 2.5 million engineers with special skills are needed in sub-Saharan Africa to address its developmental challenges. In Nigeria, where over two-third of the

population are youths, the future of STEM-related sectors and the country’s development at large depends on the success of these young people. We also recognise that the energy landscape is evolving, with new technologies and methodologies emerging. The sector’s sustainable evolution relies on the inclusion of individuals capable of driving it forward. A recent study shows that only 28 per cent of the developing Distributed Renewable Energy (DRE) sector consists of youth, indicating that future leaders are already being excluded from critical future solutions. Common barriers faced by youth in STEM include limited access to strategic roles,

inadequate resources, underrepresentation, and marginal capacity-building opportunities.

At Petralon, we are acutely aware of the talent gap in building a sustainable pipeline of energy leaders capable of offering bold, transformational leadership in the face of future challenges. By championing STEM students, Petralon aims to address this gap. We will contribute to the sustainable development of Nigeria’s energy sector by building a strong pipeline of future energy leaders. Through the FLP, we go beyond providing financial support; we invest in the participants’ personal and professional growth, equipping them with leadership traits from an early stage in their development.

What impact do you expect the FLP to have on Nigeria’s energy sector, particularly in nurturing young talent?

At Petralon, our operating principles are driven by values such as Excellence, Entrepreneurship, and Agility. These principles are not just words or corporate catch phrases, they are principles, which I also personally live by; they guide how we operate daily and the initiatives we lead and support. The FLP program exemplifies this as it is geared towards creating long-term partnerships to nurture high-potential young talent, promoting excellence by motivating participants to reach their full potential, and by providing the necessary resources to enable talent to focus on developing an Entrepreneurial and Agile way of thinking that embodies innovation, bold decision-making, resourcefulness and distinguished leadership from a young age.

By supporting these youth, we hope to remove the barriers some of which I mentioned previously which they would ordinarily face and thus enable them to instead fully focus on harnessing promising and budding traits as they develop into the future leaders of the sector.

The future of energy in Nigeria is only going to be as good as those who lead it. We believe there is no better way to play a role in strengthening the sector and creating a resilient

and sustainable energy sector than to invest in the very future leaders of the sector. As indigenous players in the energy space with a 10-year track-record that continues to inspire, we have persevered through it all in our pursuit of achieving our commercial and developmental interests. Our highs, lows, achievements, failures and rebounds in the sector are all testament to our growth, experience and the knowledge that we have harnessed in developing a sustainable, Nigerian firm that is able to meaningfully contribute to developing the sector.

When I reflect on what it is that has set us apart and what it is that keeps us going in a space where many have tried but most have been unsuccessful, I land on one true differentiator our people. I believe and hope that through the FLP we can impart some of our learnings and experiences to future generations, hopefully scaling some of what I believe have led to our successes and achievements.

What challenges do you foresee in developing future leaders in STEM, and how does the FLP plan to overcome them?

The key challenges in developing future leaders in STEM in Nigeria include limited access to quality education, a lack of mentorship opportunities, and low levels of female representation across STEM subjects. Additionally, financial constraints and a lack of infrastructure in many educational institutions hinder the practical training needed to excel in STEM fields.

By partnering with academic institutions, and offering access to internship placements in the industry, the program will ensure participants have access to quality resources, hands- on experience, and mentorship from seasoned professionals, the FLP will also provide financial support. Petralon is fully committed, through the FLP, to developing leaders who possess the character, grit, resilience, and excellence required to achieve their full potential and to contribute to the growth of STEM.

Economy, and Energy Sector.

Okupe

Akinrinmade

Majiyagbe: N150m Worth of Securities

Loaned to Local, International Clients

Babatunde Majiyagbe is the current Chief Executive, Stanbic IBTC Nominees. He heads the largest asset custodian in Nigeria, a position he has held from 01 November 2020. He is responsible for the Investor Services business in Nigeria, driving the strategic planning and execution of the largest custodial business in Nigeria. In this interview, he shares insights on custodial services and how Stanbic IBTC Bank is blazing the trail in the industry.

Custodial and securities services in Nigeria have been evolving gradually for some time now. What would you say is the state of the market at this time?

Nigeria’s capital market is progressing, with custodial organisations transforming from passive players to proactive account administrators and capital enablers. As the market deepens, custodians are becoming vital in capital market development, supporting the increasing volume and activity, and meeting evolving business and client needs.

An essential development is the formation of associations like the Association of Asset Custodians of Nigeria (AACN), which amplifies the value custodians offer. Stanbic IBTC Nominees is a key member of this association, actively participating in conferences and discussions that promote industry growth.

It is interesting how you mention that custodian organisations are now regarded as initiators of capital market development rather than recipients. Can you shed more light on this?

Traditionally, custodians safeguarded financial assets, minimising risks. Today, their role has expanded to include account administration, transaction settlements, and tax support. More importantly, custodians now lead advocacy efforts by engaging regulators and market participants to initiate market changes, leveraging their expertise to enhance local market capabilities.

By working closely with regulators and market participants, custodians have driven initiatives like securities lending to improve market liquidity. This collaborative effort has led to the introduction and regulation of securities lending in Nigeria, contributing significantly to market development.

In 2015, Stanbic IBTC Bank introduced securities lending in Nigeria. How would you describe the process and journey that led to this feat?

The Securities and Exchange Commission (SEC) issued licenses for Securities Lending Agents in 2012, and by 2015, securities lending was officially launched. Since then, Stanbic IBTC has been the most active participant. We have increased market awareness and engagement, collaborating with key market participants to drive adoption.

Now, we are excited to include fixed income securities like Federal Government Bonds and Treasury Bills in our lending services. This expansion provides more opportunities for our clients and enhances market liquidity.

What exactly does securities lending entail?

Securities lending involves the temporary transfer of securities from a lender to a borrower, with an agreement to return the securities either on demand or at a specified future date. The borrower gains full legal title and can sell the securities, often for short selling.

Transactions are governed by formal agreements detailing the loan terms, fees, and collateral. During the lending period, the borrower is obligated to return the securities upon request or at the expiration of the agreement.

How does securities lending contribute to the overall capital markets’ efficiency and liquidity?

Securities lending is crucial for effective market-making, increasing overall market liquidity, and enhancing the efficiency of price discovery mechanisms. It allows market-makers and investors to take and cover short positions, supporting their market-making activities, investment strategies, or hedging purposes. By enabling these activities, securities lending fosters a more dynamic and liquid market, which benefits all participants.

Can you elaborate on this recent development in the securities lending service in Stanbic IBTC Bank?

Previously, our securities lending services were limited to equities. Now, we are excited to extend this service to include fixed income securities such as Federal Government Bonds and treasury bills. This expansion allows us to

offer more comprehensive solutions to our local and international institutional clients; providing greater opportunities for income generation and liquidity creation in the market. We have also opened this offering up to international investors. In 2024 alone, we successfully loaned out assets worth N150 million, underscoring the growing demand and trust in our securities lending services.

What are the implications of increased securities lending for market participants and regulators?

Increased securities lending boosts market activity and liquidity, benefiting both buy-side and sell-side participants. It paves the way for new products like derivatives and attracts more investors. For regulators, it means maintaining oversight and adapting to evolving market practices to ensure a stable and efficient market.

Can you highlight the involvement of The Nigerian Exchange Limited (NGX) and The Financial Market Dealers Quotation (FMDQ) in securities lending?

The NGX and FMDQ play crucial roles in facilitating and regulating the securities market. The NGX provides guidelines for securities lending transactions and ensures adherence to best practices. FMDQ, particularly in the fixed income market, supports the inclusion of bonds and treasury bills, enhancing market liquidity.

Are securities lending transactions permitted in asset classes other than equities, such as government bonds and ETFs?

Yes, securities lending is permitted for all listed securities, including equities, government bonds, and treasury bills. As the market develops, we aim to include more diverse and liquid assets in the securities lending pool.

How much of Standard Bank’s expertise was leveraged in establishing securities lending in Nigeria?

Standard Bank, as a leading custodial bank in Africa, provided invaluable technical guidance, training, and platforms for securities lending. Their support was instrumental in launching and operationalising securities lending in Nigeria, enhancing our market’s functionality and appeal.

Stanbic IBTC Bank recently won awards for its custodial services. Some of these include Best Sub-Custodian Bank in Nigeria at the Global Finance Awards for the 15th consecutive time; Best Sub-Custodian Bank at the 2023 International Finance Awards; Best Custodian Bank in

Nigeria at the Digital Banker’s Global Transaction Banking Innovation Awards 2023 and Custodian Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions’ (BAFI) Awards. What would you say is the key driver of these achievements?

Our success is driven by our commitment to excellence, innovation, and client

satisfaction. We constantly raise the bar, leveraging cutting-edge technology and focusing on clientcentric services. Our dedication to transparency, efficiency, and accuracy has earned us the trust of investors and recognition through these recognitions.

As Investor Services at Stanbic IBTC Bank Limited, can you highlight some of its services?

Stanbic IBTC Bank Limited is the leading custodial and investor services company in Nigeria. We offer a wide range of services, including asset safekeeping, transaction processing, foreign exchange trades, derivatives clearing and top-notch securities lending. Our robust systems ensure seamless operations and business continuity.

How can interested persons or firms register as participants in securities lending?

Interested parties can contact us at callme@ stanbicibtc.com for information on securities lending. We will guide them through the required documentation and onboarding process to become participants in this exciting market opportunity.

Tells us about Stanbic IBTC Bank Limited Custody Solutions

Stanbic IBTC Bank Limited, provides top-tier custodial services to both local and international clients. The organisation offers a wide range of services including asset safekeeping, securities lending and investors services. With a fully operational team and world-class custodial platforms, the Investor Services ensures seamless operations and robust business continuity.

Majiyagbe

At 64, Telecoms Sector Battles for Survival

As Nigeria celebrates her 64th Independence, the telecoms sector, which had over the years, rose to become one of the two most thriving sectors of the Nigerian economy, is currently faced with myriad of challenges that are gradually pulling it down, writes Emma Okonji

As at 1960 when Nigeria gained her Independence from the British colonial masters, telecommunications services were merged with postal services and Nigeria was offering a combined post and telecommunications services called P&T.

In 1985, telecommunications services were separated from postal services, which gave birth to the Nigeria Telecommunications Limited (NITEL), an era where telecommunication was the exclusive right of the affluent in the society as only few people had access to telephony. People had to queue for hours and days, just to make international calls and sometimes local calls with the 090 NITEL line.

However, the advent of Global System for Mobile Communication (GSM) in 2001 eventually demystified telecommunications, and gave every Nigerian the access and right to communicate. The introduction of GSM in 2001 suddenly raised the number of registered telephone lines, from less than 400,000 to over one million lines in less than one year.

After 2001, Nigerians could sit in the comfort of their homes and offices to make instant calls within and outside Nigeria, through their personal hand-held devices called the mobile phones, and banking activities are now transacted on the mobile phones, without the bank customers visiting the banks.

From 1960 to 2000, when Nigeria celebrated her 40th Independence anniversary, Nigeria had less than 400, 000 lines, but from 2001 when GSM was introduced, to October 2024 when Nigeria is currently celebrating her 64th Independence anniversary, Nigeria can boast of over 200 million connected lines, with increased internet access for connectivity, and increased GDP contribution, making the telecoms sector one of the two most thriving sectors of the Nigerian economy.

But even as Nigeria clocked 64 years of Independence, there are myriads of challenges pulling down the once vibrant sector, a development that needs government’s intervention.

THE CHALLENGES

Speaking about the challenges of the telecoms sector, the Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, told THISDAY in a telephone interview that the telecoms sector, which used to be a strong force for driving the Nigerian economy, is currently faced with myriad of challenges that are gradually pulling down the sector, and he has called for immediate government intervention.

According to Adebayo, telecoms operators are faced with challenges like right pricing of telecoms services, sustainability of the industry, review of telecoms tariff, access to foreign exchange, policies affecting foreign investment, Right of Way (RoW) issues, huge indebtedness to the telecoms sector by the banking sector, among others, which according to him, are impacting negatively on the growth of the telecoms sector. He however attributed the challenges to the socio-economic situation and the economic headwinds that the economy and the telecoms industry are currently facing.

Worried about the issue of right pricing in telecoms service offerings, ALTON had in April 2022, written to the telecoms industry regulator, the Nigerian Communications Commission (NCC), asking for a 40 per cent hike in voice and data tariff, to enable telecoms operators cope with the high cost of delivering telecoms services across the country, but ALTON is yet to receive the NCC’s nod.

Worried that the cost of telecommunications services is not in tandem with the rising cost of goods and services across all sectors of the Nigerian economy, ALTON has warned that telecoms operations will soon go into extinction like NITEL, if telecommunications investments are not sustained.

“What we are calling for is cost reflective tariff for the telecoms sector. If the industry refused to carry out cost reflective tariff, it will affect the sustainability of the industry, and it will be a deterrent to telecoms investors. The risk in all of these is that telecoms operations might go the way of NITEL because investors will not invest in new infrastructure, they will not invest in new technologies and if those micro economic challenges are not addressed, it will come to a time where it will be difficult to power telecoms cell sites,” Adebayo said.

Adebayo also raised the issue of the over N200 billion owed telecoms operators by Deposit Money Banks (DMBs), insisting that such money can go a long way in addressing some of the challenges of the telecoms sector. He decried the situation where the banks have refused to pay the money, which is an ongoing accumulation of interconnection debts from the Unstructured Supplementary Service Data (USSD) offered by telecoms operators to bank customers to

effect financial transactions using the mobile phone.

On the issue of RoW, Adebayo said government agencies have refused to grant permission for Right of Ways that will enable telecoms operators expand their networks across different states of the country, adding that agencies of government arbitrarily shut down telecoms sites, while demanding for taxes and levies from telecoms operators. He explained that all of these were already affecting the telecoms operations in the country, and called on the federal government to, as a matter of urgency, intervene immediately, in order to save the telecoms sector from total collapse.

SERVICE QUALITY

Reacting to the issue of service quality in the telecoms sector, the National President, Association of Telephones, Cable TV and Internet Subscribers (ATCIS), an advocacy group, Mr. Sina Bilesanmi, said subscribers had suffered so much in the area of telecoms service offerings since Nigeria gained Independence in 1960.

According to him, the telecom subscriber is king and should be treated as such to receive better quality of service that is paid for. “Since Independence in 1960, telecoms subscribers have not enjoyed better service quality, which they deserve and the telecoms operators have to sit up and do the right thing that will enable telecoms subscribers enjoy the services they are paying for. There have been several drop calls, incomplete calls and disconnected calls, yet telecoms operators charge subscribers for all calls, including calls that did not go through,” Bilesanmi said. For cable television subscribers, Bilesanmi told THISDAY that ATCIS would continue to push for Pay-As-You-View, to enable cable television subscribers enjoy the full benefits of their cable television subscription.

Adebayo who also confirmed the poor service quality across networks in recent times, however blamed it on the general economic headwinds.

“We are challenged at this time, not because we have done something wrong, it’s just because the world itself is in problems. The global economy itself is in crisis and we can see it in different parts of the world. The inflation that we have experienced after Covid-19 pandemic has impacted negatively on productivity and it is also affecting telecoms operations, even in Nigeria. The world itself suffered some setbacks, and so, part of what we are seeing in terms of quality of service today is traceable to the entire global economic situation which Nigeria is a part of.

We are very concerned that what we have achieved in 23 years since the advent of GSM in 2001 can be really destroyed if something is not done to mitigate against the economic headwinds that we are facing now,” Adebayo sadi.

“Again, telecoms operators are also faced with the destruction of telecoms infrastructure during road construction. Government agencies also add to the challenge when they shut down telecoms sites with impunity, when enforcing payment of levies charged on telecoms operations in their states. All these have in one way or the other, affected the quality of service delivery in the affected states in recent times,” Adebayo further said.

TELECOMS’ REGULATION

Bilesanmi, however, blamed most of the challenges plaguing the telecoms sector since 2001 on poor regulation of the telecoms operators. According to him, the telecoms industry regulator, the Nigerian Communications Commission (NCC), has become too familiar with telecoms operators to the extent of turning away its regulatory eyes from some of the unwholesome activities of telecoms operators that currently charge telecoms subscribers arbitrarily. He said ATCIS had written NCC to challenge it about the high charges imposed on telecoms operators for most service offerings, and that the NCC was yet to respond to its queries.

Bilesanmi stressed the need for proper monitoring of telecoms operators by the regulator, and for NCC to set standards that the telecoms operators must meet in addressing service quality across networks.

He challenged telecoms operators to form alliance with ATCIS, the umbrella body for telephone subscribers of Nigeria to address some of their challenges, rather than running to the regulator, each time they have subscribers’ issues to address.

He advised government to put the right telecoms infrastructure in place, and implement the right policies that would further attract investments to the telecoms sector.

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 30 September-2024, unless otherwise stated.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

LASG, Private Sector Collaborates to Boost Tourism, Youth Devt

Afrinvest Pioneers Remittance for Investment in Nigeria through Integration with Western Union

Oluchi Chibuzor

Oluchi Chibuzor

Afrinvest (West Africa) Limited (“Afrinvest”), a leading investment management holding company acting through its wholly owned subsidiary, Afrinvest Asset Management Limited, a fund manager licensed by the Securities and Exchange Commission (SEC), has announced a strategic integration with Western Union, a global leader in money transfer services.

The Lagos State Ministry of Youth and Social development and its Tourism counterpart in collaboration with Skal International have concluded plans to ensure that people with disabilities are carried along in the course of good governance in the state.

Speaking at this year’s World Tourism celebration in Lagos, Commissioner for Youth and Social Development, Mr. Bolaji Ogunlende said the government will leave no one behind in the move to develop the youths in the state.

The integration, according to a statement, enables Nigerians in the diaspora to remit funds directly for financial investments through the Optimus by Afrinvest investment platform.

This integration, a first for Western Union with a partner company in Africa, enables

Ogunlende said the government was at the Federal Nigeria Society for Blind to celebrate this year’s

Fubara

Nigerians to remit funds from nearly every country worldwide for financial market investments in Nigeria without relying on family, friends or other intermediaries.

World Tourism Day with a view to renewing the hope of people with disabilities. He said that the government want to also want to ensure that people with disabilities are made to part of governance, as the government makes plans to citizens of the state, plans for the development of people with disabilities.

He said: “What we hope to achieve by carrying everybody along especially those with disabilities, is to give them renewed hope to let them know that they are also a part of the society, to let them know that they are citizens of Lagos and citizens of Nigeria.”

In his comment, the Senior Assistant to Governor on

“We are thrilled to integrate with Western Union to bring this groundbreaking service to Nigerians in the diaspora. This integration aligns perfectly with our mission of simplifying investment, improving access to investment opportunities, and guiding people on how to create wealth. By providing a direct channel to remit funds for investment, we are making it easier for Nigerians in the U.S., U.K., Cameroon, Ghana, Canada or wherever Western Union operates worldwide to create wealth while participating in the growth of the

Tourism, Mr. Idris Aregbe said that it was right for the government to ensure both the able and disabled persons are carried along the course of governance in the state.

Nigerian economy,” said Chief Executive of Afrinvest Group, Dr. Ike Chioke.

Chief Business Officer of Optimus by Afrinvest, Ayodeji Ebo said, “We are excited to offer a robust, convenient, and secure platform for Nigerians to access a wide range of investment options that suit various risk appetites and nancial goals. Optilock, our high- yield investment plan returns as high as 20% and 7% per annum for the Naira and Dollar options, respectively.”

Aregbe also said that Skal as a private organization, must be supported to for it to be able to support an institution like the Federal Nigeria Society for Blind adding that as a government, it will always support initiative like this.

Also speaking, Chairman of Skal International, Mr. Chudi Aligwekwe said according to World Health Organization report, one out of every six human in the world is disabled and that includes the blind.

He said, “the Nigeria International Debt Fund offers investors with low to medium risk appetite access to longer term fixed-income securities like FGN Bonds, Corporate Bonds and selected money market instruments.

Inaugurate MSMEs Council in Rivers

Polaris Bank Emerges Nigeria’s

Governor of Rivers State, Simnalayi Fubara has officially inaugurated the Rivers State Council on Micro, Small and Medium Enterprises (MSMEs).

Polaris Bank, a leading digital retail bank in Nigeria, has been recognised as the country’s top bank in Micro, Small, and Medium Enterprises (MSME) lending at the inaugural MSME Finance Awards 2024.

Inaugurating the council yesterday in Port Harcourt, Fubara noted the impact of small and medium businesses in the development of a nation.

government under his watch has initiated several programs to support SEMs, including “Rivers State Microfinance Agency, Rivers State Employment and Empowerment Program, Business Development Program.”

entrepreneurs to grow and expand their businesses.

MSME development,” Iloba noted that MSMEs sector remains the engine for critical economic growth a d poverty reduction globally.

Top Bank in MSME Lending

The event, organised by Nairametrics and The Economic Forum, took place over the weekend in Lagos.

This award highlights Polaris Bank’s dedication to supporting MSMEs through various direct and indirect funding initiatives. The judges emphasized the bank’s consistent efforts in providing sustainable finance, which has enabled Nigerian

He said his led government is strongly committed to industrialising the state for economic growth and development, adding that the focus is to boost job creation, reduce poverty, and enhance the state’s revenue through diversified economic activities beyond its traditional reliance on oil and gas.

Represented by the Permanent Secretary, Ministry of Commerce and Industry, Lawson Okuru, Governor Fubara said the state

Stressing that various reforms have been put in place by the state government to simplify the process of starting and running business in the state, Governor Fubara charged the council to tackle challenges affecting MSMEs and ensure the live of the council successfully last long.

In response to the award, Polaris Bank’s Managing Director, Mr. Kayode Lawal, expressed gratitude and reaffirmed the bank’s commitment to supporting Nigerian MSMEs. He noted, “We are honoured by this recognition, which underscores our unwavering commitment to empowering micro, small, and medium businesses. These enterprises are essential drivers of economic growth, innovation, and job creation.”

Lawal also praised Nairametrics and The

In his welcome address, the South-South Zonal Coordinator, SMEDAN, Mr Egbuna Iloba, said the Inauguration of the council represents an important landmark in the development of the subsector in the state.

Speaking on the theme of event, “Creating a public-private dialogue platform that will deliver optimal benefits for

Economic Forum for their recognition, adding, “This award is a testament to our team’s dedication to providing tailored financial solutions. It further motivates us to continue our strategic focus on MSME lending, financial inclusion, and Nigeria’s broader economic development.”

On her part, Olalekan Rashidat, Rivers State Manager, SMEDAN said MSMEs councils have been inaugurated in several states in the federation, adding that they are in collaboration with Non Governmental Organisations, development partners like the British council and others in the drive for economic development.

Polaris Bank’s approach to MSME lending aligns with its mission to deliver innovative, customer-centric services that help businesses thrive, further cementing its reputation as a key player in driving Nigeria’s economic progress.

“The MSMEs council is spur to create public, private dialogue on the platform to develop the MSMEs through various interventions and sources of finance like grants, low interest schemes, conditional grant schemes, low interest loans and also providing business advisory services for small businesses within the Niger Delta region,” Olalekan added.

APM Terminals Apapa Hosts Inaugural Employees’ Talent Show

Dun & Bradstreet Gets Recognition for Finance Analytics, Sales Solutions

Dun & Bradstreet, a global leader in business data and analytics, has earned prestigious awards from TrustRadius, recognising the Finance Analytics and D&B Hoovers™ solutions.

Nigeria’s largest container terminal, APM Terminals Apapa, hosted its first-ever talent show on Friday, 27th September 2024, celebrating the diverse and hidden talents of its employees beyond their daily routines.

The “APM Terminals Got Talent” show, themed “Lifting Industry Talents,” took place at the company’s premises at the Lagos Port Complex Apapa, bringing together employees from various departments eager to showcase their skills.

The atmosphere was filled with excitement and camaraderie as colleagues cheered and supported one another.

According to a statement by the company, Finance Analytics offers AI-powered tools that help companies manage risk, improve operational efficiency, reduce costs, and enhance customer experiences. This solution was awarded top rated and tech cares honors for 2024, highlighting its value in driving financial

The Terminal Manager, APM Terminals Apapa, Steen Knudsen, expressed pride in the creativity and versatility of the employees.

“We are celebrating our staff for their creativity and skills through

decision-making and operational success.

“Meanwhile, D&B Hoovers™, a sales intelligence platform, empowers sales teams with comprehensive business data, enabling them to find targeted leads and scale effectively.

performances. APM Terminals is committed to delivering for our customers, and it is equally important to recognize the amazing people who make that possible. Today, we celebrate both our employees and contractors. We are an amazing family and this event highlights the energy and passion they bring to work every day, creating a fun and engaging workplace,” Knudsen remarked.

TrustRadius recognised D&B Hoovers™ with awards for best relationship, best value for price, and best feature set, celebrating its ability to help businesses make data-driven sales strategies and close more deals,” the statement said.

rounds with 15 contestants, narrowing down to five finalists before selecting the top three winners. In total, nine contestants were rewarded for their efforts.”

“These awards reflect our dedication to delivering powerful, AI-driven solutions that continuously meet the needs of our clients,” it added.

She emphasised that the company’s commitment to work-life balance extends beyond regular duties, providing opportunities for employees to recharge and refocus.

The Employee Relations Manager of APM Terminals Apapa, Ben Nwangwu, noted that the talent show not only boosted morale but also strengthened bonds among employees. He revealed plans to make the talent hunt an annual tradition, encouraging staff to continue exploring their creative interests.

“This initiative ensures our employees return to work energised and motivated,” Ben-Ude added.

The show featured a wide array of performances, including acting, singing, instrumental music, and dynamic dance routines.

TrustRadius, a respected platform for unbiased technology reviews, selects winners based on verified customer feedback, ensuring that only the top-performing solutions are recognized. These awards spotlight Dun & Bradstreet’s commitment to delivering value and innovation to businesses globally.

Worship for Change to Host Benefit Concert,Targeting N100 Million for Charity Homes

The Head, People Function, APM Terminals Nigeria, Uzoma Ben-Ude said, “We held three

The 2024 edition of Green Worship 7.0, a benefit concert aimed at raising awareness and support for orphans, indigent children, and children with special needs, is set to raise N100 million, according to the organizers.

Standard Ore Company Limited has announced an initial allocation of one million dry metric tonnes (DMTU) of iron ore per year for rail transport, following a new partnership with the Nigerian Railway Corporation (NRC).

raise N100 million, which will be distributed to six carefully selected charity homes, Flora Trust Foundation in Lagos, Gilead Initiatives, Ikorodu, Agbedare Jesus Care Foundation, Ibadan, Gold Gate Missions, Adamawa, Bethesda School for the Blind, Lagos and Jesus Orphanage in Port Harcourt.

Olawale Zaccheaus, a storekeeper in the kitchen department, who emerged as the winner, was overwhelmed with joy at his unexpected victory.

donations to over 40 charity homes.

Standard Ore Partners with NRC for Iron Ore Haulage

Hosted by Worship for Change, a leading Nigerian non-profit organization, the concert will take place on October 1, 2024, at the Balmoral Convention Centre in the Sheraton Hotel, Ikeja, Lagos. The event is scheduled to begin at 5 p.m.

by the NRC for the Standard Gauge railway network.

This collaboration aims to improve the efficiency of iron ore transportation in Nigeria and targets a production increase to two million DMTU annually by 2028, based on the wagon allotment provided

The convener and Chief Responsibility Officer of Worship4Change, Pastor Wale Adenuga, said this year’s event and associated activities aim to

Managing over 13 mineral properties across Nigeria, Standard Ore’s portfolio includes lead-zinc, gold, silver, lithium, aluminum, rutile, palladium, and iron ore, with recoverable metal reserves valued at over $10 billion at current market prices. The company plays a crucial role in the country’s mining industry.

The partnership with the

Speaking at a press conference in Lagos yesterday Pastor Adenuga called on individuals and corporate organisations to join the cause by attending the free concert and donating generously. Over the years, Worship for Change has raised over N130 million, directly impacting the lives of thousands of underprivileged children in Nigeria through

“We’ve been organising this concert since 2006, and it keeps growing every year, last year, we raised N33 million, which was distributed to four charity homes—Joy in Africa Foundation in Asaba, Let Cerebral Palsy Kids Learn Foundation in Lagos, Seedo Initiative for Children with Special Needs in Abuja, and To Omo Re Centre for Special Empowerment in Ilorin each receiving N8.25 million,” he said.

NRC is intended to establish a reliable and cost-effective transportation solution to support Standard Ore’s growing iron ore production. By securing a stable logistics framework, the company aims to enhance its competitiveness in the global market.

This strategic initiative not only enhances Standard Ore’s overall operational efficiency, but also reinforces Standard Ore’s position as a leader in Nigeria’s mining sector.

Beyond this year’s benefit concert, Adenuga announced a “21 Days of Giving” campaign in October, hoping the initiative will generate additional support for the children under their care.

The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with

(Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

L-R: Group Head, Payment Products, Sterling Bank, Seyi Olanrewaju; Chairman, Committee of e-Business Industry Heads (CeBIH)/Chief Partnership Officer WEMA Bank Plc, Ajibade Laolu-Adewale; Executive

Business and Transactions, Premium Trust Bank, Abidemi Asunmo and Group Head, e-Business, Sterling Bank, Lanre Raheem, at the meeting of CeBIH hosted by Sterling Bank in Lagos… recently

Blessing Ibunge

Nume Ekeghe

Broad Street Lagos

Stock Market Up N241bn on Investors’ Demand for Seplat, 30 Others

Investors Lose N187bn as Stock Market Commence October on Negative Note

Kayode Tokede

Kayode Tokede

Positive sentiments continued in the stock market segment of the Nigerian Exchange Limited (NGX) yesterday as investors’ interest in Seplat Energy Plc and 30 others triggered N241 billion increase in the overall market performance.

Investors in the stock market section of the Nigerian Exchange Limited (NGX) lost N187billion of their investment in the first trading day October 2024, driven by profit-taking activities in 32 stocks.

The NGX All-Share Index (ASI) declined by 326.40basis points or 0.33 per cent to close at 98,232.39 basis points, with the Year-to-Date returns

The NGX All-Share Index rose by 418.83 basis points or 0.42 per cent, to close at 98,987.42 basis points from 98,568.59 basis points it opened

moderating to +31.4per cent. Also, market capitalisation declined by N187 billion to close at N56.448 trillion.

for trading. Similarly, the overall market capitalisation value gained N241 billion to close at N56.882 trillion from N56.641 trillion it closed the previous day. Accordingly, the NGX ASI Month-till-Date (MtD) and Year-till-Date (YTD) gains advanced to +2.5per cent and +32.4per cent, respectively.

On indices performance, the NGX Banking Index dropped by two per cent and NGX Oil & Gas Index was down by 0.1per cent, while the NGX Consumer Goods Index added 1.1per cent and NGX Insurance Index appreciated by one per cent. The NGX Industrial Goods index closed flat.

From a sectoral standpoint, the NGX Oil & Gas index gained 3.3per cent and NGX Consumer Goods

As measured by market breadth, market sentiment was negative, as 32 stocks lost relative to 26 gainers.

index appreciated by 0.5per cent, while the NGX Banking Index dropped by 0.7per cent and NGX Insurance index was down by 0.4per cent. The NGX Industrial Goods index closed flat.

International Breweries emerged the highest price gainer of 9.98 per cent to close at N4.41, per share.

Meyer followed with a gain of 9.94 per cent to close at N8.52, while Veritas Kapital Assurance increased by 9.93 per cent to close at N1.66, per share.

Meanwhile, the market breadth closed positive, as 31 stocks gained relative to 24 losers. Flour Mills and Seplat Energy recorded the highest price gain of 10 per cent each to close at N60.50 and N4,103.10, while Ellah

Tripple Gee and Company rose by 9.91 per cent to close at N4.99, while Deap Capital Management & Trust appreciated by 9.84 per cent to close at N1.34, per share.

Lakes followed with a gain of 9.97 per cent to close at N4.08, per share.

Honeywell Flour Mills appreciated by 9.87 per cent to close at N5.01, while ABC Transport rose by 9.57 per cent to close at N1.26, per share.

On the other side, Ellah Lakes led others on the losers’ chart with 9.93 per cent to close at N3.99, per share.

On the other hand, Multiverse Mining & Exploration led the losers’ chart by 9.90 per cent to close at N9.10, per share. Caverton Offshore Support Group followed with a decline of 9.86 per cent to

Caverton Offshore Support Group followed with a decline of 9.92 per cent to close at N2.18, while ABC Transport

close at N3.29, while AXA Mansard Insurance declined by 6.78 per cent to close at N5.50, per share. FBN Holdings (FBNH) shed 6.45 per cent to close at N29.00, while Fidelity Bank lost 6.40 per cent to close at N15.35, per share.

shed 9.57 per cent to close at N1.04, per share.

Livestock Feeds depreciated by 9.03 per cent to close at N2.72, while Consolidated Hallmark Holdings dipped by 7.24 per cent to close at N1.41, per share. The total volume traded decreased by 77.24 per cent to 425.765 million units, valued at N8.451 billion, and exchanged in 11,954 deals. Transactions in the shares of UBA led the

The total volume of trade declined by 20.93 per cent to 603.302 million units, valued at N12.575 billion, and exchanged in 9,723 deals. Transactions in the shares of Fidelity Bank

Edo State Police Commissioner, Nemi Iwo (left), receiving a plaque from the National Youth Service Corp (NYSC) Director-General, Brigadier-General Yushau Dogara Ahmed (right), during General Ahmed’s visit to the state Police Command to solicit adequate security for corps members before, during and after the Edo State gubernatorial election in Benin-city...recently

MTN Nigeria, Idowu Adesokan, during the ‘MTN See Naija’ press conference in Ikoyi, Lagos...recently

L -R: The Director, Sales and Distribution, Airtel Nigeria, Ifeoma Okafor-Obi; Managing Director and CEO, SmartCash PSB, Tunde Kuponiyi; Niger State Commissioner for Communications, Tech and Digital Economy, Hon. Suleiman Isah; and Director, Corporate Communications and CSR, Airtel Nigeria, Femi

the inaugural Nairametrics-TEF MSME Awards at where SmartCash was honoured as MSME Payment Service Bank of the Year, in Lagos...recently

Executive Officer, Heirs Life Assurance and Sector

Chief Client Officer, AXA Mansard, Rashidat Adebisi; Chief Executive Officer, Casava, Bode Pedro; Managing Director/Chief Executive Officer, Peakthrust Insurance Brokers Limited/President, Professional Insurance Ladies Association, Abimbola Onakomaiya; and Co-founder/Chief Executive Officer, MyCover.ai, Adebowale Banjo, during the Insurance Meets Tech

L-R: The Registrar/Chief Executive, Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mr. Babatunde Okuneye ACIS; Vice President, Mrs. Uto Ukpanah FCIS; President/Chairman of the Governing Council of the Institute, Mrs. Funmi Ekundayo FCIS; Honorary Treasurer, Mr. Francis Olawale; and immediate-past President, Mr. Taiwo Owokalade FCIS, during the 48th annual conference/investiture of fellows of the Institute held in Lagos...recently

L-R: Chief Operating Officer, FBNQuest Merchant Bank, Funke Shobanjo; Director of Operations, Bethesda Child Support Foundation, Lanre Abu; Chief Executive Officer, Bethesda Child Support Foundation, Ogechi Ofurum; and acting Managing Director, FBNQuest Merchant Bank, Afolabi Olorode, during the EPIC Walk, a charity event organised by FBNQuest in Lagos...recently

L-R: The General Manager, Internal Audit and Fraud Management, MTN Nigeria, Ibe Etea; General Manager, Architecture and Engineering, MTN Nigeria, Bukola Ajayi; Chief Customer Relations Officer, MTN Nigeria, Ugonwa Nwoye; Chief Operations Officer, MTN Nigeria, Ayham Moussa; General Manager, Brands and Communications, MTN Nigeria, Emamoke Ogoro; and General Manager, Consumer Segment and Devices,

Adeniran, during

L-R: The Managing Director, Cornerstone Insurance Plc, Stephen Alangbo; Managing Director/Chief Executive Officer, Sanlam Nigeria, Tunde Mimiko; Chief

Head, Heirs Insurance Group, Niyi Onifade; Convener, Insurance Meets Tech, Odion Aleobua;

3.0 in Lagos...recently

Of LUTH’s First Bone Marrow Transplant and Hope for Sickle Cell Disease Patients

As the Lagos University Teaching Hospital, LUTH, records success of its first Bone Marrow Transplant, Blessing Yakubu writes that it has given new hope for Sickle Cell Disease patients

The team of medical professionals who performed the Bone

In a monumental achievement for Nigerian healthcare, the Lagos University Teaching Hospital, LUTH, has successfully completed its first bone marrow transplant, offering new hope to patients suffering from sickle cell disease, SCD.

The procedure which was performed on the first set of patients admitted in the last week of August 2024 represents a major breakthrough in the country’s medical landscape and underscores the growing capacity of local healthcare facilities to provide advanced treatments for complex conditions like SCD.

This achievement marks a turning point for Nigeria, a country with the highest burden of sickle cell disease in the world, where an estimated 150,000 children are born with the condition each year.

“The first set of patients were admitted in the last week of August 2024at the hospital.

“They received a treatment regimen of exchange blood transfusions, chemotherapy and anti-infective prophylaxis to prepare them for the infusion of bone marrow stem cells that were harvested from family donors, processed and given this week (17th and 19th September 2024).

“Both patients are currently undergoing immediate post-transplant care within the transplant unit at the hospital,” said the Chief Medical Director, Prof. Wasiu Adeyemo, who was visibly pleased with the medical breakthrough.

According to National Health Institute, about 50 million people are living with SCD globally and Nigeria is the epicentre zone with about 4-6 million people living with the disease (one in every four Nigerians has a sickle cell trait). Annually, about 300,000 newly diagnosed SCD children are born worldwide.

Sub-Saharan Africa contributes about 75% of the number. Nigeria accounts for 100,000-150,000 newborns living with SCD annually, which accounts for 33% of the global burden of the disease. Therefore, Nigeria

occupies a strategic position in the epidemiology of SCD from the global perspective.

LUTH’s success opens the door for more patients to access life-saving treatments without the need to seek medical care abroad, providing relief for families affected by this debilitating disease.

WHAT NOW IS SICKLE CELL

DISEASE YOU MAY ASK.

Sickle cell disease is a hereditary blood disorder caused by a mutation in the gene responsible for producing hemoglobin, the protein in red blood cells that carries oxygen throughout the body. In SCD, the red blood cells, which are normally round and flexible, become rigid and shaped like sickles or crescent moons.

parts of the world, but it has been out of reach for most Nigerians due to the complexity and cost of the procedure, as well as the need for highly specialized medical infrastructure.

Until recently, Nigerian patients seeking a cure had to travel to advanced medical centers in Europe, the United States, or India, where the cost of the procedure could run into tens of thousands of dollars—an option only available to a small fraction of the population.

LUTH’S JOURNEY TO SUCCESS

“The successful bone marrow transplant at LUTH is a beacon of hope for thousands of Nigerians living with sickle cell disease. It demonstrates that Nigeria has the capability to offer advanced medical care, and the Federal Ministry of Health under the leadership of Prof. Ali Pate is making sure that all gaps are closed between local healthcare and what is available in other parts of the world”

These misshapen cells can block blood flow, causing severe pain, organ damage, and a range of other serious complications, including stroke and acute chest syndrome.

For decades, managing the disease has largely been focused on reducing symptoms and preventing complications through blood transfusions, medication, and pain management. However, these treatments do not cure the disease, and many patients continue to endure painful crises and a reduced quality of life.

BONE MARROW TRANSPLANT: A PATH TO CURE

While treatments like hydroxyurea and blood transfusions help manage the symptoms of sickle cell disease, they do not address the root cause.

The only known cure for SCD is a bone marrow transplant, also known as a stem cell transplant. In this procedure, a patient’s defective bone marrow is replaced with healthy stem cells from a donor, usually a sibling with a matching tissue type.

Bone marrow transplant has shown remarkable success in curing sickle cell disease in many

LUTH’s success in conducting its first bone marrow transplant is the result of years of preparation, investment, and collaboration. The hospital, which has a reputation for being a leader in medical innovation in Nigeria, has worked closely with the Sickle Cell Foundation Nigeria, SCFN, to establish a bone marrow transplant program that meets international standards.

Highlighting the successful collaboration between Lagos University Teaching Hospital and the Sickle Cell Foundation Nigeria, SCFN, the Chief Medical Director praised the partnership for its pivotal role in establishing a high-quality, internationally accredited bone marrow transplant program.

This joint effort has made it possible to offer a safe and effective cure for sickle cell disease, ensuring that Nigerians can access top-tier treatment locally.

The hospital also credited SCFN for its exceptional administrative and project management oversight, which has been instrumental under the leadership of CEO Dr. Annette Akinsete.

“Recognizing the gaps in care for individuals affected by the disease in Nigeria, the leadership of the SCFN and LUTH established a bone marrow transplant programme at LUTH.

“In preparation for a locally adapted and cost-effective bone marrow transplant programme in Nigeria, a post-transplant clinic was initially

established in 2019, a first in sub-Saharan Africa, to provide post-transplant care to patients who had travelled to other countries for bone marrow or stem cell transplants, thereby developing clinical expertise in posttransplant care,” a statement from LUTH noted.

The hospital’s bone marrow transplant program is built on a foundation of robust infrastructure, cutting-edge medical technology, and a highly trained team of specialists.

The programme consists of a high-level multidisciplinary team which includes paediatric and adult haematologists, consisting Dr. Seye Akinsete, as the Team lead, and Drs. Ugonna Fakile, Olufunto Kalejaiye, Yusuf Adelabu, and Professor Edamisan Temiye, the Programme Manager.

Others are blood transfusion and stem cell processing lab support, Professor Titi Adeyemo and Dr. Ann Ogbenna, bone marrow-transplant nurses, dieticians, social workers, pharmacists, psychiatrists, anaesthesiologists, nurses at the KidsOR (theatre) and other ancillary personnel.

The program has been guided by the scientific expertise and leadership of Professor Adetola Kassim of Vanderbilt University Medical Center, who joined in 2018.

And to further strengthen their expertise in the program, Prof Josu de la Fuente from the Imperial College London Healthcare NHS Trust UK joined the team in 2022 as a resource person and assisted with the paediatric aspects of the programme SCFN CEO, Dr. Annette Akinsete, also expressed her joy at the milestone. “We’ve worked tirelessly to ensure that Nigerians have access to this critical treatment. Our vision has always been to provide a cure for sickle cell disease right here in Nigeria, and today, we’re one step closer to making that a reality.”

WHAT THIS MEANS FOR NIGERIA

The successful bone marrow transplant at LUTH is a beacon of hope for thousands of Nigerians living with sickle cell disease. It demonstrates that Nigeria has the capability to offer advanced medical care, and the Federal Ministry of Health under the leadership of Prof. Ali Pate is making sure that all gaps are closed between local healthcare and what is available in other parts of the world.

For the medical community, this achievement is a call to action to further invest in training, infrastructure, and research to ensure that more patients can benefit from this life-saving procedure. LUTH’s goal is to expand the program in the coming years, making the treatment accessible to a broader range of patients while reducing costs.

Now it is safe to say that LUTH and SCFN’s collaboration is proving that with the right partnerships, vision, and dedication, Nigeria can rise to meet its healthcare challenges and provide solutions that benefit its people at home.

• Yakubu is an Health Awareness Advocate in Abuja

Marrow Transplant at LUTH

Gamin G Week

Edited by nseobonG okon-ekonG | gamingweek1117@gmail.com

EA Sports FC 25 Redefines Soccer Gaming

For decades, FIFA and EA Sports were virtually inseparable in the world of soccer gaming, shaping the way millions of fans experienced the sport on their consoles. Every year, the release of a new FIFA game became a global event, but that era is now officially over. With the launch of EA Sports FC 25, EA Sports has fully committed to its new direction, making a clean break from FIFA and signalling a new era in soccer gaming. The latest release proves that the franchise, even without the iconic name, is ready to lead the charge in redefining the soccer gaming landscape, writes davidson abraham

The spliT

The separation between EA Sports and FIFA is no longer a recent development, but the ramifications of their split are still making waves in the industry. After nearly 30 years of collaboration, EA Sports made the bold decision to walk away from the

FIFA brand due to disagreements over escalating licensing fees. FIFA demanded a substantial fee increase for EA to keep using its name, but EA, confident in its creative vision, chose to break away. The result is EA Sports FC, and with EA FC 25 now fully released, it is clear that EA Sports is not only surviving but thriving without FIFA’s name attached.

WhaT’s neW and exciTing?

Now that EA Sports FC 25 is officially out, fans are diving into the first fullfledged release of the new era, discovering that it’s packed with familiar elements and fresh surprises. All the beloved modes—like Ultimate Team, Career Mode, and Pro Clubs—are still in the

New Online Gambling Protection Measures

Introduced in Netherlands

The new measures are designed to provide greater safeguards against gambling-related risks, reports Gambling Insider

Commenting on these changes, Helma Lodders, Chair of VNLOK, stated, “VNLOK members have already taken extra-legal measures to provide additional protection for players, for example, with the Advertising Code for Online

Gambling or stricter gaming limits for young adults. VNLOK is therefore in favour of proven effective measures that keep the Dutch online gambling market safe and responsible.”

Lodders also warned about the risks of overregulation, stating, “With separate amendments to the law, the government ensures that the coherence in legislation and regulations disappears. In addition, a number of measures impose higher

thresholds for participation in online gambling. This reduces the legal supply and increases the appeal of illegal gambling sites.”

Lodders added, “Well-intentioned measures can thus have a counterproductive effect. It is important to carefully monitor the balance between strict regulation and preventing over-regulation from leading to an increase in illegal supply.”

game, but they’ve been enhanced and refined. The new game features a deeper level of customization than ever before. Players can now create stadiums with incredible detail, form their own leagues, and personalize almost every aspect of the gameplay experience. Meanwhile, improved physics and sharper animations elevate the realism, making EA FC 25 the most immersive soccer game EA has ever produced.

hoW The spliT is reshaping soccer gaming

The release of EA Sports FC 25 is not just the beginning of a new game—it’s the full realization of EA Sports’ vision for soccer gaming beyond the FIFA brand. The breakup, once seen as a risky move, has allowed EA to innovate more freely than ever before. Without FIFA’s constraints, the company has introduced fresh ideas, enhanced gameplay, and embraced a more dynamic approach to development. For fans, this shift could lead to an even more competitive soccer gaming market. With EA no longer tied to FIFA, other developers might step in, creating a more diverse range of soccer games, each with its own unique features and style.

WhaT To expecT nexT

As EA Sports FC 25 makes its mark, it’s clear that EA is not resting on its laurels. In fact, the development team has already laid out plans for updates and future instalments that will continue to push the boundaries of soccer gaming. Players can expect even more customization options, brand-new game modes, and regular updates that will keep the game fresh for years to come. EA Sports has proven that it doesn’t need FIFA to dominate the world of soccer gaming. With the release of EA Sports FC 25, the company has set the stage for an exciting future filled with innovation and creativity. This is just the start of what is sure to be a thrilling new era in soccer gaming.

Independence: NLTF Marks Nigeria’s 64th Anniversary in IDP Camps

In commemoration of Nigeria’s 64th Independence Anniversary, the National Lottery Trust Fund (NLTF) distributed essential clothing and food items to Internally Displaced Persons (IDPs) Karmajiji and Durumi.

The donation, aimed at uplifting the downtrodden, demonstrates NLTF’s commitment to supporting vulnerable communities and promoting national unity.

Explaining the gesture, the Executive Secretary, Comrade Tosin Adeyanju, said, “As we celebrate Nigeria’s 64th Independence Anniversary, on behalf of President Bola Tinubu, we remember those who have been displaced from their homes due to conflict and disaster. Today, we stand in solidarity with you, our brothers and sisters, who have had to leave behind the comfort and familiarity of your homes.

He added, “This donation symbolizes our commitment to your well-being and our resolve to support vulnerable communities. We believe that every Nigerian deserves dignity, hope, and a chance to rebuild. We pray for peace, unity, and prosperity in our great nation. May this independence anniversary mark a new beginning for our country, and may we continue to strive for a brighter future for all.”

Adeyanju explained that through this gesture,

“we hope to bring some comfort and relief to your lives.”

The NLTF boss further said, “Let us work

together to provide support for President Bola Tinubu’s administration as the president strives to build a greater Nigeria where every citizen

Lagos State Gaming Authority Meets with Nigerian Bookmakers to Address Key Industry Challenges

At a recent crucial meeting, Lagos State Lotteries and Gaming Authority (LSLGA) engaged representatives of the Association of Nigerian Bookmakers (ANB) to address pressing concerns facing the gaming industry. Chaired by Mr. Bashir Are, the CEO of LSLGA, the meeting focused on regulatory challenges, jurisdictional conflicts, and the way forward for gaming operators in Lagos. Are opened the session by applauding the ANB’s efforts in maintaining professionalism and order within the industry. He also noted that state gaming regulators have been in talks with the National Lottery Regulatory Commission (NLRC) through the office of the Attorney General of Lagos State. He described the move as an ongoing effort which is yet to reach an unanimous resolution that will not violate the 1999 constitution.

Spokesperson for the ANB, Mrs. Fadeke Akeju what she termed the most pressing issues. According to her, “There needs to be clarity on the role of the regulatory bodies to protect both operators and players.” She also pushed for a clearer resolution and stronger coordination between state and federal agencies.

In response, Are reaffirmed that the Federation of State Gaming Regulators (FSGR) under his leadership was at the final stage of launching a universal licensing framework to resolve regulatory reciprocity among member states. This framework was designed by Deloitte, the world famous business management company and it is aimed at promoting synergy and reciprocity regulation between state regulators while ensuring their respective autonomy.

Mr. Are also emphasized that the LSLGA has consistently supported its operators in resolving challenges arising from interference by other government agencies. He reiterated that the LSLGA remains committed to protecting both online and retail operators’ interests within the confines of the law.

The operations of the LSLGA, Mr. Are asserted, remain in full alignment with both the laws of the land and global best practices. He emphasized the importance of adhering to the Constitution, while insisting that the judiciary has been consistent in affirming the jurisdiction of state regulation of gaming activities. Some of those judicial decisions include; Federal High Court, Ibadan in Give ‘N’ Take Limited vs Oyo State Gaming Board and AG of Oyo State, which was delivered

on the 23rd of July 2020 in Suit No. FHC/ IB/CS/133/2018; Edet v Chagoon (2008) 2 NWLR (PT. 1070) 85 at p108; and a landmark judgment delivered on March 31, 2023, by Honourable Justice Mohammed Lawal Garba of the Supreme Court of Nigeria, in the matter pertaining to the Attorney General of Lagos State v. National Sports Lottery Limited & NSL Lottery Management Co. Limited. The Supreme Court reaffirmed the jurisdiction of the Lagos State High Court, stating that, “This suit is not for the determination of matters within the exclusive legislative list of the National Assembly of Nigeria such as to deprive a State High Court of jurisdiction over it.” The Supreme Court further ordered the case to be remitted to the Chief Judge of Lagos State for determination.

As the gaming industry in Nigeria continues to evolve, the FSGR and its member states remain steadfast in their commitment to establishing a cohesive regulatory framework that will ensure the growth and stability of the sector. Gaming operators and other stakeholders await the FSGR’s forthcoming announcements on the much-anticipated uniform gaming license framework, which is expected to provide clarity and move the industry forward.

can access opportunities and every child can grow up with hope and promise.“

The donated items included canvas, balls, T-shirts, towels, socks, bags of corn, millet, garri, rice and detergents.

Mohammed S.D, the Acting Director Parastatal who represented the minister of Special Duties and Inter-Governmental Affairs, came in the company of Dr. Cyprian Eddey Kpakolo, Director of Policy Implementation and Monitoring of Government Decisions, expressed Adeyanju’s genuine concern for the well-being of those at the camp. He emphasised that the NLTF chief’s visit demonstrated his love and care for them and that he is committed to doing more to support them.

Idris Ibrahim Halilu, speaking on behalf of the Durumi IDP camp, expressed appreciation for the donations.

“We thank the entire NLTF team for remembering us in our time of need. Your kindness has brought joy and hope to our lives. As internally displaced persons, we have faced unimaginable challenges,” said Halilu. “We have lost loved ones, homes, and livelihoods. But we have not lost hope. We are grateful for what you have done. I came here when I was 62, but now I am 73 years old. You have remembered us, and God will bless everything you do. You have remembered the poor. You have remembered God.”

Women Leader of Durumi IDP camp, Liatu Ayuba, stated, “We are grateful for the love you have shown us today. Our children have been very happy ever since they were told that you were coming. May God bless everything you do for remembering the poor and vulnerable. May your efforts be rewarded, and may you continue to support those in need.”

Ayuba also urged NLTF to continue supporting the IDP camp.

Abdulazeez Yakubu, Secretary of the Karamajiji IDP camp, echoed similar sentiments and wished NLTF success more success.

The donation is a testament to NLTF’s commitment to supporting vulnerable communities and promoting Good Causes across Nigeria.

ENJOY

YOUR VACATION MR PRESIDENT...

President Bola Ahmed Tinubu; Secretary to the Government of the Federation (SGF), Sen George Akume; and FCT Minister, Nyesom Wike, during the president's departure from Abuja for the United kingdom to begin a two-week vacation, as part of his yearly leave, at the Nnamdi Azikiwe International Airport, Abuja ... yesterday

US SEC Arraigns Nigerian Audit Firm over Alleged Securities Fraud

Says

Olayinka Oyebola & Co., sexed up audit reports that enabled Mmobuosi, Tingo entities to deceive investors

The United States Securities and Exchange Commission (SEC) has charged Nigerian auditor, Olayinka Oyebola and his accounting firm, Olayinka Oyebola & Co., for their alleged involvement in a major securities fraud scheme.

They were accused of concealing fraud.

The infractions were reportedly orchestrated by businessman, Dozy Mmobuosi, and three US-based companies collectively referred to as the Tingo entities.

According to the SEC’s complaint, Oyebola and his firm played a critical role in enabling Mmobuosi and the Tingo entities to deceive investors over several years by falsifying audit reports.

The development came amid a $250 million judgment that the SEC recently obtained against Mmobuosi and the Tingo entities for their fraudulent activities.

SEC further stated that the fraudulent audit reports, which bore Oyebola’s signature, were submitted to the former as if they had been legitimately issued by his firm.

According to the US apex securities

regulatory body, Oyebola allegedly made misleading statements to the auditor of one of the Tingo entities and concealed the fact that the audit reports were fake.

It said the deception allowed Mmobuosi and his companies to inflate their financial metrics and mislead investors globally.

Director of the SEC’s New York Regional Office, Antonia M. Apps,

Enugu Govt Slams Fake Report on State’s Ease of Doing Business

The Enugu State Government has described as mischievous and fake news, a report, which claimed that the state ranked 36th out of 36 states of Nigeria in an Ease of Doing Business Subnational Survey carried out by the Presidential Enabling Business Environment Council, PEBEC.

The rebuttal was made by the Enugu State Focal Person on Ease of Doing Business and Managing Director of Enugu State Investment Development Authority, Dr. Sam Ogbu-Nwobodo, on Wednesday.

Ogbu-Nwobodo, who is also a member of the PEBEC-NEC Ease of Doing Business (EoDB) Technical Working Group (TWG), representing Southeast region, explained that the first ever Subnational Baseline Survey and Ranking was released by PEBEC in 2021, followed by the second edition released on Monday, March 27, 2023, more than two months before Dr. Peter Mbah was sworn in as governor on May 29, 2023, while the third edition is due in March 2025.

He, therefore, wondered how those behind the fake report came about the purported new Ease of Doing Business ranking of Enugu State, describing it as “a fake report from the pit of hell and coven of bitter political losers.”

Puncturing the report further, the MD explained that whereas Subnational Baseline Survey measures only six indicators, the offensive report referred to 10 indicators, including economic and social indices, which he said, were never part of the survey.

He further explained: “The subnational Baseline Survey measures state performances against six indicators and not the ten so-called ‘Key Economic and Social Indices’ mentioned in the report.

“The official indicators are infrastructure, which covers electricity, transportation, logistics, telecoms, internet and digital access; security, which measures secure and stable environment; transparency and accessibility of information; regulatory environment, which measures business registration, license renewal, contract enforcement, land and property acquisition and taxation; skills and labour, including expertise and talent; and economic opportunity.”

The Managing Director added that contrary to the report, the Governor Mbah Administration had improved Ease of Doing Business in Enugu State, a fact, he said, has been variously confessed by both local and foreign investors as well as diplomats.

He said that the over N300bn worth of investments garnered by Enugu State in the last three months was a testimony to the fast-rising investors’ confidence in the state under Mbah’s leadership.

condemned Oyebola’s actions.

She said, “As alleged, Oyebola and his firm violated the public trust and abdicated their responsibilities as public company accountants and auditors by helping Mmobuosi and the Tingo entities effectuate and conceal their fraud.

“We will not hesitate to hold gatekeepers to the public markets accountable when they facilitate fiction rather than truth.”

Specifically, the SEC’s complaint, filed in the U.S. District Court for the Southern District of New York, charged Oyebola and his firm with aiding and abetting violations of the anti-fraud provisions of the federal securities laws by Mmobuosi and the three Tingo entities.

DiBattista, Christopher Mele, Jeremy Brandt, Gerald Gross, and Rebecca Reilly under the supervision of Tejal D. Shah. It was being litigated by David Zetlin-Jones and Mr. DiBattista under the supervision of Alexander Vasilescu, all of the New York Regional Office. The SEC appreciates the assistance of the Israel Securities Authority.

Last month, a US federal court fined the Nigerian entrepreneur Dozy Mmobuosi the sum of $250 million following a fraud case brought against him and three of his companies by the SEC.

The SEC also charged Oyebola with aiding and abetting Mmobuosi’s violation of lying to auditors.

“This was demonstrated by the issue of Executive Order 003 by the governor minutes after his inauguration on May 29, 2023. The order was further expanded by Executive Order 005 on Promotion of Economic Growth through Transparency and Efficiency in Government Service Provision and Ease of Investment in Enugu State.

His words: “Upon assumption of office, Governor Mbah adopted a structured and systematic approach to enabling business climate reforms as the bedrock of the ongoing economic renaissance aimed at growing the state’s GDP from $4.4bn to $30bn in eight years.

The complaint seeks civil penalties as well as permanent injunctive relief, including an order permanently barring Oyebola and his firm from acting as auditors or accountants for US public companies or otherwise providing substantial assistance in the preparation of financial statements filed with the SEC.

The SEC’s ongoing investigation was being conducted by Michael

Judge Jesse M. Furman of the US District Court for the Southern District of New York delivered the final judgment against Mmobuosi and his companies, including two Nasdaq-listed entities, Tingo Group and Agri-Fintech Holdings, as well as Tingo International Holdings. The court found that Mmobuosi and his firms had “failed to answer, plead, or otherwise defend” themselves in response to the civil complaint filed by the SEC last December.

The SEC’s complaint accused Mmobuosi of orchestrating a largescale fraud by inflating the financial performance metrics of his companies to mislead investors worldwide.

Ekiti’s Oyebanji Bags Gov of the Year in Inclusive Political Leadership

Bennett Oghifo

The Governor of Ekiti State, Biodun Abayomi Oyebanji, has won the Most Outstanding Governor of the Year (Inclusive Leadership and Grassroots Development) at the 2024 edition of EDGE Awards, organised by Marketing Edge Magazine, Nigeria’s leading Marketing Journal.

At the award held at the Balmora Convention Centre, Sheraton Hotel, Ikeja, Lagos, Oyebanji was honoured for his developmental approach to governance, inclusive leadership and uplifting the standard of living in the state.

According to the award organisers,

Governor Oyebanji marking his second year in office this October, was honoured for his giant development strides in infrastructure, good governance and promoting peace in the 28-year-old state.

The award organisers said: “In two years, Governor Oyebanji has demonstrated capacity and redefined governance in Ekiti State. Through his inclusive governance approach, the governor has been able to involve all the stakeholders; the elites, traditional institutions, artisans, women and youths are all represented and carried along by the governor.

“Again, for the first time since 1999, Ekiti enjoys unbridled peace

among the political class. Oyebanji’s endorsement and acceptability cut across party lines.”

Receiving the award on behalf of Governor Oyebanji, his Special Adviser, Media, Olayinka Oyebode said the award would spur Oyebanji to do more in the uplift of the people of Ekiti State.

He quoted Governor Oyebanji as saying that any recognition or award bestowed on him while serving the people of Ekiti State, is dedicated to all the well-meaning people of Ekiti State. To this end, the ‘Governor of the Year in Inclusive Political Leadership’ was dedicated by Oyebanji to the people of the state.

His words: “To Governor Oyebanji, a passionate leader and committed democrat, political leadership is akin to service to humanity, hence, his determination to spend every day in office towards developing the state and his people. Until the last minute, Mr. Governor was meant to come in person to receive this because it speaks to some of his core-values but some other pressing state matters sprang up that required his attention.” Meanwhile, the governor has dedicated the award to the good people of Ekiti State and indicated that it would inspire him to do more for his people. Earlier in his welcome address

PHOTO: GODWIN OMOIGUI

James Emejo in Abuja

At GOvErnOr’s COmmEnDAtIOn AnD AwArD nIGht...

L-R: State Resources and Admin, Rule of Law and Anti-Corruption (RoLAC), Abimbola Ushie; Lagos State Commissioner For Justice, Lawal Pedro; RoLAC’s Head of Programmes, Danladi Plang; Executive Secretary, Domestic And Sexual Violence Agency (DSVA), Titilola Vivour- Adeniyi, and Lagos State Project Coordinator, RoLAC, Ajibola Ijimakinwa, at the Governor’s Commendation and Award Night of the Child Protection Week commemorating the SGBV Awareness Month in Ikeja, Lagos State…recently.

Global Fund, ACOMIN Decry Poor Services at Nigeria’s Primary Health Centres

Say only 20% of facilities offering service

The Global Fund and the Civil Society in Malaria Control, Immunisation and Nutrition (ACOMIN) have identified poor services, dilapidated or insufficient infrastructure and inadequate health workers in most of the Primary Healthcare Centres (PHCs) across the country as a major hindrance in the effort to reduce the scourge of diseases like malaria, tuberculosis and HIV.

For its part, the Global Fund noted that from an assessment on the state of PHCs in the country, only 20 per cent of them were functioning and providing healthcare services.

In the latest assessment report on the government's efforts to promote and achieve improved malaria and overall health outcomes within Nigerian communities, ACOMIN said several factors were hindering effective service provision at the PHCs.

While presenting ACOMIN's findings at a media parley in Abuja yesterday, its National Coordinator, Ayo Ipinmoye, listed the challenges to include; inadequate supply of malaria commodities, insufficient and dilapidated healthcare infrastructure, inadequate and inequitable distribution of health workers and delayed disbursement of Basic Healthcare Provision Fund (BHCPF).

He said when funds were not disbursed promptly, healthcare facilities struggled to provide essential services and respond to emerging health needs

"This lack of timely funding has

often led to a shortage of medical supplies, lack of funds for ad-hoc staff and limited capacity to address the needs of the health centre," he said

However, Ipinmoye said addressing these challenges were crucial for the effective delivery of healthcare services, especially in the areas of malaria, tuberculosis and HIV interventions in the country.

He also stressed the need for communities to take charge of their health outcomes and contribute to malaria elimination as well as other preventive diseases.

"The community-led monitoring activities being implemented by ACOMIN has recorded significant successes, however, we have witnessed a number of challenges hindering effective service provision.

"These challenges span from inadequate supply of malaria commodities, insufficient and dilapidated healthcare infrastructure, inadequate and inequitable distribution of health workers and Basic Healthcare Provision Fund (BHCPF) disbursement issues," he said.

Ipinmoye, further said that another major challenge observed at the community level was the delisting of some PHCs from the globally supported facilities.

He said that those delisted no longer receive free Global Fund malaria commodities due to issues related to record keeping and data entry.

"Despite efforts to resolve these record-keeping and data entry issues, these PHCs have not yet been

reinstated into the database of Global Fund supported facilities to resume receiving commodities, resulting in the unavailability of malaria services in these areas," he added.

According to ACOMIN governments at national, state, and local levels, philanthropists and community leaders need to take decisive action to solve the problem of poor funding to ensure significant

progress in eliminating malaria and other diseases.

Also speaking, the Coordinator of Country’s Coordinating Mechanism, Mr. Ibrahim Tajudeen, called for revitalisation and upgrade of the country's PHCs.

He said PHCs’ services are not where they were supposed to be.

He said an assessment carried out on the state of affairs of the PHCs

showed that not up to 20 percent of the PHCs were adequate when it comes to service provision.

According to him, the findings led to the mobilisation of resources to support the revitalisation of the health facilities.

The Education Partnership (TEP) Centre, yesterday, announced the relaunch of the TEP Learning Academy, a platform dedicated to enhancing the professional development of educators and education professionals in Nigeria.

The revamped academy aims to provide specialised courses that address critical challenges and opportunities within the education sector.

Speaking at the launch in Lagos, Chinenye Agwuncha, Head of Human Resources and Talent Development at TEP Centre, explained that the academy will offer a variety of learning options, including open enrolment workshops and bespoke

training sessions.

"This flexibility allows education professionals to choose from structured courses or receive customised training tailored to their specific needs. Additionally, self-paced courses will be available, enabling participants to learn at their own convenience, regardless of their schedules."

Among the upcoming courses, she noted include Research and Data Collection, Monitoring, Evaluation, and Learning (MEL), and QuickBooks Accounting for Educational Development.

Agwuncha said: "These courses are specifically designed for educators, researchers, and administrators who are looking to improve their skills in

Ibrahim Oyewale in Lokoja

In line with the federal government’s efforts to ameliorate the suffering of the masses as result of subsidy removal, the P-CNGI yesterday, launched conversion incentive programme in Lokoja , the Kogi State Capital.

Kogi State government received 10 CNG buses from the federal government to cushion the effect of the subsidy removal which culminated into high cost of living across the country.

Kogi State Governor, Usman Ododo, while flagging off the ceremony in Lokoja, commended efforts of President Ahmed Bola Tinubu on the initiatives.

Ododo, who was represented by his Deputy, Joel Salihu, explained that the state had already keyed into the initiative to reduce high of transportation in the state, nothing that no fewer than 250 youths would

be trained on CNG through the Nigeria /Korea Friendship Institute NKF in Lokoja

He noted that his administration has perfected all plans and will continue to support and key into any incentive programme that would profit the citizens of the state.

"Our administration is determined to achieve that through our synergy with all the road union transport in the state. Under this new initiative, 250 youths selected from across the 21 local government councils of the state will be provided with cuttingedge training in critical areas such as CNG conversion, welding and fabrication, automobile mechatronics, solar system installation, and more,” he added.

The Programme Manager and CEO of the Presidential CNG

He said that the present administration has responded by releasing some funds through the Basic Healthcare Provision Fund facilities to rehabilitate some selected primary health centres (about 8,800) across the country.

FG Launches P-CNGI, Donates 10

Initiative, Mr. Micheal Oluwagbemi, explained that the launch of the CNG conversion programme was something to celebrate because of many benefit associated with it.

He noted that this was the federal government’s intervention for the transport workers to ameliorate the suffering of the people in line the Tinubu’s Renewed Hope Agenda for Nigerians.

The Programme Manager pointed out that the commercial natural gas initiative was to reduce the cost transportation following the removal of oil subsidy in the county.

He stated that the opportunities have landed in Kogi State for the people to get their vehicles converted to reduce the cost about 40 per cent.

He called on the people of the State to take advantage of the of

Tinubu Mourns Business Mogul, Ben

President Bola Tinubu has extended heartfelt condolences to the family of Oluwole-Johnson on the passing of their patriarch, Ben Oluwole-Johnson.

collecting and analysing educational data.

"Participants will gain practical knowledge on effective research methodologies and data interpretation to inform educational practices and policy-making.”

Agwuncha emphasised that the relaunch of the TEP Learning Academy represents a major step in the organisation’s mission to build the capacity of education professionals, adding, “this platform is not just about offering courses; it’s about empowering educators with evidence-based practices, innovative tools, and the knowledge necessary to drive meaningful, sustainable change in the education sector."

The United States-based business executive and estate magnate died on September 17, 2024, in Crete, Illinois, at 72. His burial rites would start on Friday and the burial on 5 October.

In a personal tribute to the former governorship aspirant of Ondo State and Chief Executive Officer of Benol Management & Development Company, the President, in a statement issued yesterday, by his Adviser on Information and Strategy, Bayo Onanuga, described the deceased as exceptionally intelligent and forward-looking.

He said: "His rugged determination and tenacity reflected the passion we all shared for Nigeria. While his exuberance might have gotten him into trouble at times, it was a

testament to his vibrant spirit and unwavering commitment to the betterment of himself, his community, and his nation."

Recalling their shared interactions in Chicago, Illinois, Tinubu noted that throughout their encounters, Mr. Ben, as he fondly called him, consistently demonstrated his intellectual prowess and business acumen, never shying away from showcasing his brilliance.

The President recalled the deceased extraordinary philanthropy, particularly his significant role in securing and donating over $42 million of hospital equipment to Nigeria, focusing on Lagos State.

''Despite the extensive, difficult, and time-consuming nature of the work, Ben never claimed a penny for his efforts," he noted.

Tinubu also reflected on OluwoleJohnson’s dedication and love for Nigeria, which motivated him to run for governor in his beloved Ondo State, with staunch support from

On his part, the National Coordinator, Network of People Living With HIV/AIDS in Nigeria, NEPWHAN, Mr. Ibrahim Abdulkadir, said recent efforts by the government are yielding fruits, adding that over two million HIV positive Nigerians are currently accessing treatment.

conversion incentive programme to reduce the high cost of living in Kogi State.

Also speaking during the launch, the Minister of Steel Development Shaibu Abubakar –Audu, said the Renewed Hope agenda of President Ahmed Bola Tinubu has been brought to the door step of the masses in Kogi State. Audu, stated that reduction of 40 percent in transportation through CNG vehicles was a good development, stressing that the economy was at the verge of collapsing. This, he said was the reason the President took a decision to address the situation.

"Ajaokuta Steel Company will play a significant role as Ajaokuta is a hub for gas which will be translated to other,” he added.

the Nigerian community in Chicago, including the President himself.

"Although he fell short, his audacity and courage earned his esteemed wife, Moji, the affectionate title of 'First Lady' in my book and in the hearts of many in Nigeria." The President praised his unwavering commitment to Nigeria despite declining health.

According to him: "When several of us officially formed 'The Caring Group' to express our love for Nigeria, particularly Lagos State, Ben remained a vital contributor.

''Even as his health began to fail him, he continually offered his business expertise, never wavering in his commitment. Thanks to his lovely wife, Moji, who always stepped in to represent and carry out his wishes, his influence and contributions remained ever-present.

"We will sorely miss Mr. Ben, but we take solace in the great family he leaves behind. May he rest in perfect peace".

Onyebuchi Ezigbo in Abuja

Funmi Ogundare

Deji Elumoye in Abuja

IFMA NIgerIA ColloquIuM...

L-R: Managing Partner, Jagun Associates, Mr. Stephen Ola Jagun; President, International Facility Management Association (IFMA), Nigeria Chapter, Mr. Olalekan Akinwunmi; Managing Director, Benign Spaces Limited, Ms. Modupe O. Odude; Director-General, Lagos State Safety Commission (LSSC), Mr. Lanre Omojola; Immediate Past President, IFMA Nigeria Chapter, Mr.Segun Adebayo; and Chief Operating Officer, Freedom Park, Ms. Iyabode Aboaba, during the IFMA Nigeria Colloquium at the Big 5 Construct Nigeria held in Victoria Island, Lagos ... yesterday

NNPP Leader, Kwankwaso, Chides Rival Parties, Declares APC Lawless, PDP Lifeless

Chuks okocha in Abuja

Leader of New Nigeria People’s Party (NNPP), Senator Rabiu Kwankwaso, yesterday, rebuked two rival political parties, the ruling All Progressives Congress (APC) and opposition Peoples Democratic Party (PDP), declaring them, respectively, unruly and dead. Kwankwaso made the assertion at NNPP’s National Executive Committee (NEC) meeting in Abuja. He dismissed APC as anarchic and PDP as comatose, and asked Nigerians to treat both parties as outcasts if they must enjoy political and economic development.

The presidential candidate of NNPP in the 2023 general election had last month also described PDP as dead and incapable of winning any national election.

Speaking in Abuja yesterday, Kwankwaso said APC had “regrettably” lost touch with the harsh economic realities that Nigerians were grappling with, given its obvious non-performance in the last nine years He scored the ruling party “very low” in service delivery to the Nigerian people.

Kwankwaso, who is also the leader of the popular Kwankwasiyya Movement, said despite existing

challenges, NNPP had emerged the fastest-growing political party that could be trusted by Nigerians for their political emancipation in the coming years.

He told the NEC members, “I’m pleased to say that, despite all the challenges, today, our party is the fastest-growing party in this country. I remember when I visited Katsina State to commission our state office. I mentioned that the two parties, especially the PDP, were dead, and there are so many concerns within the fold of the PDP.

“I’m sure when I was making that statement, many of them did not see what was happening, that

the party had been broken into pieces. The party is imploding, and, therefore, if they didn’t understand at that time, now I believe they will agree with all of us that the party is dead.

Kwankwaso stated, “The APC, as it stands today, you can see that the leadership is just up there in the air, and the entire nation, the people of this country, are on the ground.

“At that level, whether they believe they are doing well, all of us, especially the voters in this country, believe that they are performing very, very badly, especially if you look at the issue of security, the

Illegal Firearms Importation: AGF Discontinues Charge Against Firm

Justice Lewis Allagoa of the Federal High Court, sitting in Lagos, yesterday struck out a charge against an oil company, Great James Oil and Gas Ltd, charged with alleged importation of 1,570 firearms.

The judge struck out the charge following a notice of discontinuance filed by the office of the Attorney General of the Federation.

The court had on April 24, sentenced two co-defendants in the charge, Moses Ifeuwa (a shipper) and Festus Emeka (a clearing agent) to two years imprisonment each.

The defendants were charged

alongside the company Great James Oil and Gas Ltd, on an 8 counts charge bordering on conspiracy, illegal importation of firearms, forgery and alteration of custom import papers.

They were first arraigned in 2018 before Justice Saliu Saidu and trial had commenced but along the line, Justice Saidu retired from the bench and the case was re-assigned to Justice Allagoa.

The defendants were consequently, re-arraigned in 2021 before Justice Allagoa and they had each pleaded not guilty to the charge.

The prosecution then opened its case and began trial, but the defendants subsequently, opted for a plea bargain

with the office of the AGF.

They had then changed their pleas from not guilty to guilty and the court had consequently, convicted them on the charge.

In his judgement on April 24, the court relied on relevant provisions of the ACJA with regards to plea bargain, and consequently, sentenced the convicts to a term of two years imprisonment each.

The court had however, given the convicts an option of one million naira fine on each of the 8 counts totaling N8 million.

When the case was called on Wednesday, Mr Joshua Alma, appeared for the prosecution.

He then informed the court of an application seeking to discontinue proceedings against the first defendant Great James Oil and Gas Ltd.

The application was brought pursuant to the provisions of section 108 of the Administration of Criminal Justice Act 2015.

He prayed the court to grant her application as moved.

Justice Allagoa granted the application and consequently, struck out the charge against the company.

Recall that the criminal charge bordered on conspiracy, illegal importation of firearms, forgery as well as alteration of custom import paper

Diri to Critics: Stop De-marketing Your State with Propaganda

olusegun Samuel in Yenagoa

Governor of Bayelsa State, Senator Douye Diri, has advised critics of his administration to stop demarketing the state with falsehood and negative propaganda.

Diri, said efforts of the administration to market the state and attract investors were beginning to yield positive results and recognition.

He also stated that despite challenges, Bayelsa had achieved significant development since its creation 28 years ago.

The Bayelsa governor spoke yesterday, during the 139th session of the state executive council meeting in Government House, Yenagoa.

He explained that his recent invitation as keynote speaker at an event on the sidelines of the United Nations General Assembly in New

York was due to the organisers, African Leadership Magazine’s recognition of his administration’s modest achievements and the need to create a bigger platform for the Bayelsa story to be heard.

Diri was honoured at the event with the Best Performing Governor Award as well as the Honorary Citizenship of the State of Georgia and a Legislative Commendation from the South Carolina State House of Representatives.

He urged members of his cabinet to redouble their efforts toward achieving the government’s policies, noting that its success or failure depended on their input.

The Bayelsa helmsman restated the government’s commitment to commercial farming and that as part of the plan to revolutionise agriculture and ensure food security, mechanised farming equipment and tools will soon be made available

to farmers.

He also said the government would recover loans taken by individuals for the purpose of farming and directed the Commissioner for Agricultural to commence the process of recovery.

He added: "I delivered a keynote address marketing our state on the sidelines of the recent United Nations General Assembly in New York. While we are out to market our state, there are anti-development people that are locally de-marketing Bayelsa.

"May God touch their hearts to know that the little efforts we are making here are being recognised out there, even if the critics do not. It is just a few of them. We know the greater percentage of Bayelsans recognise what we are doing.

"The African Leadership Magazine that gave the award has been on for more than 10 years.

In all of the United Nations General Assembly annual events, the magazine always looks for people with parameters that they have set out. This time around, their parameters fell on Bayelsa State

"For all of us who sincerely want the growth of Bayelsa, and knowing where we are coming from, we will be sincere to ourselves that Bayelsa is truly moving from one stage to the other. Yes, we are not where we expect to be but no one that is truly of Bayelsa origin will say that the state is not developing. Perhaps, such persons have no ears, eyes or sense of judgement.

"I am aware the tractors donated by the South Korean government are already on their way. I am also aware that the rice mills are also on the way, and that will be our take-off point. I want our people to get involved in commercial agriculture.

level of poverty in this country, and, of course, the menace of hunger that we are currently witnessing in this country.”

The Kwankwasiyya leader, therefore, said Nigerians must look away from APC and PDP, because neither of them had the capacity to move the country

forward.

He said the 2027 general election would be a defining moment for Nigeria and Nigerians to determine if they wanted to remain in servitude or experience liberation from the oppressive political forces currently holding sway in APC and their PDP bedfellows.

As UBEC, NOUN collaborate

Post graduate studies has commenced for teachers of basic education in the post graduate education internship scheme.

The Executive Secretary of UBEC, Dr. Hamid Bobboyi and Vice-Chancellor of NOUN, Professor Olufemi Peters, signed the document on Wednesday on behalf of their respective organizations, signaling the commencement of the course which is aimed at improving the quality of teachers in Nigeria.

In his remark, Bobboyi revealed that Teacher Internship Scheme was initiated to improve the quality of teaching and learning in schools specifically emphasizing the use of technology in providing engaging, motivating, collaborative and personalized learning experience for learners.

He stated: "As part of efforts towards achieving this, the Commission included a six-month Smart Education Primer course and a one-year Post Graduate Diploma in Smart Education in the 2-year Teacher Internship Scheme programme.

"This capacity building programmes is aimed at equipping the Interns with skills for assisting teachers in the UBEC Model/Smart schools and effective schools in the delivery of technology-driven teaching and learning.

"As a world class education intervention and regulatory agency, the commission is preparing its teachers through the PGD in Smart Education course to produce globally competitive learners who achieve outstanding results."

He underscored the transformative changes in the education sector brought about by technological advancement, saying integration of technology in teaching and learning is reshaping the educational landscape and this holds immense promise in enhancing educational outcomes and promoting lifelong learning.

"With this, the learners are able

to effectively navigate the volatile, uncertain, complex and ambiguous world," Bobboyi noted.

He explained that at the moment, the interns to participate are education graduates, noting that access is being opened to enable as many as possible gain knowledge of smart education and increase the rate of literacy in technology pedagogy in the schools in Nigeria.

He maintained that the participants who are in the pilot programme would man the smart schools, UBEC Effective School programme and other facilities in the basic education programme that are geared towards the use of technology in the classroom.

He urged the State Universal Basic Education Boards and other stakeholders in the basic education sector to make great use of the provision of the graduates of this Teacher Internship Scheme. He commended the National Open University of Nigeria for the partnership and the Digital Resource Centre of the Commission for the preliminary skills given to the Interns.

"The Commission is poised at revolutionizing teaching and learning through the introduction of technology. This is why the Digital Resource Centre was established.

"This centre shall continue to be the hub of training for teachers and learners to imbue skills and knowledge which will make them globally competitive and be at par with their contemporaries over the world," Bobboyi said.

The Vice-Chancellor of NOUN, Olufemi Peters, on his part said the meeting was strategic because it has to do with the mandates of the two organizations, which has to do with provision of quality education at different levels.

He added that the faculty of education that houses the new course being introduced is very positioned to support the different schools, teachers, teacher training institutions and other educational stakeholders that would be involved in the collaboration.

Wale Igbintade

Kuni Tyessi in Abuja

UBomI 2024 PrESS ConfErEnCE...

L-R: Partnerships Coordinator, Pistis Foundation, Mr. Paul Umogbai; Program Manager, Partnerships Engagement,

Rivers LG Poll: Fubara Declares Public Holiday, Restricts Movement

Says no stopping of election, seeks massive turnout

The Rivers State Governor, Siminalayi Fubara yesterday declared October 3 and 4 as public holiday in preparation for the local government elections in the state scheduled for next Saturday.

The governor in a state-wide broadcast urged Rivers people to

Sunday

The Senate, yesterday, summoned the Minister of Works, Dave Umahi, to explain the continued delay in the completion of the Oyo-Ogbomoso federal highway.

The decision by red chamber was sequel to its consideration of a motion sponsored by Senator Abdulfatai Buhari, representing Oyo North Senatorial District in the National Assembly.

Buhari’s two prayers in the motion were approved by his colleagues.

The Senate unanimously urged the federal government to, as a matter of urgency, direct the relevant authorities to complete the rehabilitation of the old Ogbomoso-Oyo road to forestall further negative occurrence on the road.

It also mandated the Senate Committee on Works to invite the Minister of Works with a view to unraveling the circumstance (s) that led to the abandonment of the portion of the Ogbomoso-Oyo Federal Road project by the contractor.

Buhari underscored the importance of good roads, saying apart from preventing avoidable accidents, it would make movement of goods

come out en-masse and participate in the election that will determine the next leaders at the grassroots.

He announced a total restriction on vehicular and human movements into, within, and out of the state, and the local government areas, from midnight of Friday October 4, 2024 to 5pm on Saturday, October 5, 2024,

except for persons and vehicles with valid identifications for election and other essential duties.

Fubara noted that the police and other security agencies had been put on alert to arrest and prosecute any person or group who attempts to violate the restriction order and enjoined Rivers people to comply with the process in order to have a peaceful and credible local government polls.

He assured residents of the state that the election for the 23 local government councils in the state shall be held on Saturday, October 5, 2024 throughout the state without any hindrances.

and services, easier.

“The Senate is aware that transportation ensures stable prices in different markets and enable traders to regulate the supply of goods at various locations, based on changing demands.

“In the last one month, the people of Ogbomoso land have been plunged into an unprecedented crisis, occasioned by a tragic petrol tankers accident that occurred on the road, which resulted in traffic gridlock, rendered some inhabitants of the area homeless, paralysed economic activities as well as claimed some innocent lives.

“The situation has been further exacerbated by the diversion of commuters to old Ogbomoso-Oyo road, which is the Takie-BowenSeminary-Emayo-Caretaker Federal Road, due to the reconstruction of the new Ogbomoso-Oyo Federal Road, which has been ongoing since the year 2007.”

The Senate expressed worry that the old Ogbomoso-Oyo federal road, which the commuters have diverted to temporary, was currently undergoing rehabilitation due to the high volume of trucks, plying it since the year 2020.

Fubara stressed that the state government had provided the necessary funds and logistics for the State Independent Electoral Commission (SIEC) to conduct and deliver a fair, free, and credible local government council election as scheduled.

The governor said the conduct of the election was in compliance with the ruling of the Supreme Court on local government administration and the order of Rivers State High Court mandating the state government to conduct the local government elections.

"On the strength of these positive developments, I directed the Rivers

State Independent Electoral Commission (RSIEC) to take definite steps to conduct local government elections for the 23 local government councils of Rivers State.

"Acting on this directive, the RSIEC has since fixed and concluded all arrangements to conduct the local government council elections on Saturday 5th October 2024.

"The legal impetus of RSIEC to conduct the local government elections was further strengthened by the judgment of the Rivers State High Court in Suit No: PHC/2696/CS/2024 delivered on the 4th of September 2024, which positively directed the Governor of Rivers State, the Government of Rivers State and the RSIEC to conduct the scheduled local government elections on the 5th of October 2025 using the 2023 Independent National Electoral Commission's Voters Register already in the custody of RSIEC.

"Today, RSIEC has expressed and demonstrated concrete and verifiable capacity and readiness to conduct the 2024 Rivers State local government elections on October 5, 2024,” the governor said.

He stated that 17 out of 18 registered political parties, including the All

Progressives Congress (APC), have expressly and actively demonstrated their willingness to participate by filling candidates with RSIEC for the election.

"Therefore, I wish to advise and request all registered voters to go to their polling units to exercise their franchise by voting for the candidates of their choice as security personnel would be there to maintain order and ensure peaceful polls as a matter of constitutional duty," he stated.

Fubara reiterated that as the governor of Rivers State, he will continue to uphold the Constitution of Nigeria and abide by the rule of law and the principles of democracy as failure to conduct the local government elections would be a clear disobedience of the Supreme Court's mandatory order.

The order had indicated that no state government must administer the local government councils in Nigeria with unelected officers with the attendant consequence of the state and the people being denied the statutory allocations due to the 23 local government areas of the state.

He commended the state’s security high command for their cooperation and commitment to effectively secure the state and ensure peaceful trouble-

free local government elections. The governor emphasised that as citizens, everyone owed the state the commitment to support RSIEC to succeed in delivering on its constitutional duty to conduct a free, fair, and credible local government council election to usher in a new set of democratically elected leaders to administer the 23 local government councils. Meanwhile, the Resident Electoral Commission (REC) of the Independent National Electoral Commission (INEC) in Rivers State, Dr Johnson Sinikiem, has denied that the commission handed over the state’s voters register to the RSIEC contrary to claims that the latter was in possession of the document. This was as the embattled Caretaker Committee Chairman of the All Progressives Congress (APC) in Rivers State, Tony Okocha, has accused Fubara of disobedience to the rule of law, insisting that the party would not watch the governor drift the state into lawlessness. However, Sinikiem revealed that the state INEC office had received two requests from RSIEC for the voters register, but compliance had been hindered by a court order from the Federal High Court, Abuja.

Adibe Emenyonu in Benin City

The leadership of Peoples Democratic Party (PDP) in Edo State, yesterday, expressed optimism that the party would reclaim its “stolen mandate” in the September 21 governorship election in the state. They said this when they led a protest to the Independent National Electoral Commission (INEC) office at Aduwawa to

register their displeasure over the outcome of the governorship election.

The PDP leaders included the state chairman, Dr. Anthony Aziegbemi; Campaign Council Director General, Mathew Iduoriyekemwen; and his deputy in charge of media and publicity, Rev. Olu Martins.

The protesters carried placards with various inscriptions.

They demanded that INEC

Ecobank hints on asking Judge to recuse himself

A Federal High Court, sitting in Lagos yesterday, fixed October 21 for hearing of all pending applications in a suit filed by an investment firm, Barbican Capital Ltd, against FBN Holdings Plc over alleged alteration of its 5.4 billion shares. Justice Faji adjourned the suit following an application by counsel to Ecobank Plc, Mr. Kunle Ogunba, seeking to be joined in the suit.

At the proceedings yesterday, Bode

Olanipekun appeared for the plaintiff; Mr. Babajide Koku appeared for the FBN Holdings Plc (1st Defendant/ Counter-Claimant); H. O. Afolabi appeared for the Central Bank of Nigeria (CBN), while Mr. Kunle Ogunba appeared for Ecobank Nigeria Limited (party sought to be joined). Addressing the court, counsel to the CBN, H. O. Afolabi, stated that at the last adjourned date, the apex bank was joined as party to the suit. He further hinted that he has an application for extension of time to

regularise their processes. The other parties were not opposed to the said application.

In his submissions, counsel to Ecobank Plc, Ogunba drew court’s attention to his client’s application for joinder. However, the court was of the view that it wants the present parties to the suit to regularise their processes before hearing the said application. Consequentially, the 2nd Defendant’s counsel moved his application to regularise his process, which was granted by the court.

Thereafter, Ogunba introduced his application for joinder, noting that the said process has been served on the Plaintiff.

He also informed the court that he has a motion for leave to file a further Affidavit in support of his application for joinder and in strict rebuttal to the Plaintiff’s Counter-Affidavit. Parties were not opposed to the application; hence, same was moved in terms by Ogunba. The court granted the application as prayed.

Thereafter, Ogunba stated that he

should return the stolen mandate of Edo people in the last governorship election and announce its governorship candidate, Dr Asue Ighodalo, as the authentic winner of the election.

The protest disrupted vehicular movement for several hours at the Ramat Park axis of the busy Auchi-Benin expressway. In their hundreds, the protesters sang solidarity songs before the watchful

eyes of the police, who were there to protect the INEC office.

Addressing the protesters, Aziegbemi said the rationale for the protest was to inform the world that INEC changed the result of the election, as PDP won the poll.

Azeigbeme called on INEC to do the needful by immediately declaring Ighodalo winner of the election. He alleged that INEC manipulated the results of some of the local governments.

He stated, "We thank you all for coming out today in a journey to reclaim the mandate stolen from us by the police and INEC as they subverted the will of Edo people.

intends to file an application for the court to recuse itself from hearing the matter.

Ecobank is alleging that the monies used by Barbican Capital Limited to purchase the FBN Holding shares were allegedly diverted from the sale of Honeywell Flour Mills shares to Flour Mills of Nigeria Plc, a move which (according to Ecobank) was taken to prevent paying their debts to Ecobank, notwithstanding the judgment of the Supreme Court affirming the said debt in favour of Ecobank.

"If we had lost this election in a free and fair contest, we would have congratulated them, but because they stole our mandate, we can't congratulate them.

"Go and sleep as we are going to reclaim the mandate stolen from us, as we are calling on the judiciary to look at our submission and be truthful in their judgement when the time comes.

“This is Nigeria and we can't be robbed of our victory, as we are sure of reclaiming our stolen mandate, as we will present overwhelming evidence.”

Blessing Ibunge in Port Harcourt

Aborisade in Abuja

Wale Igbintade

Pistis Foundation, Mary Omange; Founder and Board Chair, Pistis Foundation, Godman Akinlabi; Executive Director, Pistis Foundation, Leonard F. Thomas; Partnerships and Communications Lead, Pistis Foundation, Sowari Akosionu; and Representative, Pro-Health International, Dr. Femi Owagbemi, at the Ubomi 2024 Press Conference, held in Lagos recently

PHOTO: ETOP UKUTT

MasTER OF PHiLOsOPHy iN dEFENCE aWaRd…

L-R: Managing Director/CEO, Badinson Security Limited, Matthew Ibadin; Chief of Defence Staff, Major General Christopher Musa, and his wife, Mrs. Oghogho Christopher Musa, when Ibadin was awarded Master of Philosophy in Defence and Security Studies by the Nigerian Defence Academy(NDA) during the 34th convocation ceremony where the graduating cadets of the 71st Regular Course were honoured at the NDA in Kaduna…recently

Niger Boat Mishap:14 Bodies Recovered from River Niger

Laleye dipoinMinna

At least 14 bodies out of the 150 passengers declared missing when a boat conveying 300 passengers capsised in the River Niger on Tuesday have been recovered.

The boat was said to be conveying its passengers from Mundi community in Mokwa local government after they celebrated the religious festival of Maulud Nabiyyi at Gbajibo village.

It was claimed that a top religious leader from one of the communities

The bodies were recovered by local divers drafted to the river for search and rescue operation Initially 150 passengers in the ill-fated boat were rescued alive.

Kaduna Unveils Operational Bikes, Vans for TB, HIV Programmes

Kaduna State Governor, Uba Sani, yesterday distributed 46 motorcycles and two Hilux vans to local government areas authorities to fight the menace of Tuberculosis and HIV in communities.

The governor also unveiled three health policy documents and public health law aimed at addressing the challenges in the health sector in the state.

Speaking at the unveiling ceremony, Sani said the policy documents and a public health law would positively impact on lives of citizens people.

He said the policy documents would serve as guides for catering mothers, children, adolescents and the elderly.

According to the governor, the documents include the “Kaduna State Public Health Law, One Health Strategic Plan, Human Resource for Health Policy and The Integrated Reproductive, Maternal, Newborn, Child, Adolescent, Elderly Health and Plus Nutrition Strategy.”

He said the implementation of the documents would lead to reduction of morbidity and mortality caused by health related conditions.

PDP Members Protest against Remand of Party Chieftain in Kwara

Hammed shittu in Ilorin

Hundreds of the members of the Peoples Democratic Party (PDP) in Kwara State have protested against the reported remand of one of the party’s chieftains, Alhaji Tajudeen Sulu-Oloje, by a magistrate court in Ilorin, Kwara State yesterday.

Sulu-Oloje was the former chairman of Ilorin West Local Government Area and a leader of the PDP in the state.

in the area was in the capsised boat.

But the Public Relations Officer of the Niger State Emergency Management Agency (NSEMA), Ibrahim Hussaini told THISDAY

that: “ For now we are not concerned about the calibre of people, what we are concerned about now is how to rescue those remaining from the river.”

It was, however, gathered that majority of those in the capsised boat were from Kwara state.

The Public Relations Officer of the N-Hydro Power Producing

Areas Development Commission(NHYPPADEC), Alhaji Nura Tanko said officials of the commission have been drafted from Bida to Mokwa to join in the rescue operation.

Makinde Approves Conversion of LG Ad Hoc Workers to Permanent Staff

Governor of Oyo State, ‘Seyi Makinde, has approved the conversion of ad hoc staff in the service of the 33 local government councils in the state to permanent staff.

The governor said that the decision was taken to bridge the gap in the workforce at the local

IYC Crisis

government level, noting that the due process for the employment must be followed effectively and perfected within four weeks.

Governor Makinde disclosed this at the official inauguration of the newly-built Local Government House and Staff Training School, held at the Secretariat, Agodi, Ibadan.

He assured the people that his administration would continue to seek innovative ways to support and collaborate with local government authorities for the benefits of the citizens in order to actualise his vision for the state.

He said: “We will continue to

work with the local government so that our vision at the state level can also be sold to the local government administrators. When there is synergy, we can achieve more.”

The governor added that when he came on board in 2019, he met a local government system that owed salaries, pensions and gratuities.

Deepens as President is Accused of Financial Misconduct

Blessing ibunge in Port harcourt

The crisis rocking the Ijaw Youths Council (IYC) Worldwide has deepened following the current allegations of abuse of power and financial misconducts against the council’s President, Jonathan Lokpobiri, by his colleagues.

The Secretary-General of the council, Maobuye Obu; National Women Leader, Miracle Iyaye; National Legal Adviser, Tamunotonye David, and National Deputy Director of Mobilisation, Abiye BobManuel, are kicking against the leadership style of Lokpobiri.

At a press briefing in Port Harcourt, Rivers State, yesterday, the committee members called on security agencies to probe the president over alleged maiming of Ijaw youths during the recent IYC Eastern Zone’s elections. The IYC leaders, who hail from the Eastern Zone, said the council had been at a crossroad since Lokpobiri’s administration began, insisting that the IYC boss had been running the council as his personal estate.

Hunger Protests: Bashir Hadejia’s Family Decries Alleged Police Harassment

Family members of a detained hunger protester, Bashir Hadejia, have cried out over alleged police harassment and intimidation, saying their lives might be in danger.

Alhaji Hadejia in the statement claimed that the police had arrested and detained him alongside five of his children on Monday without any justifiable cause.

Head of the family and father of the detained protester, Alhaji Umaru Hadejia, made the allegation in a statement he personally signed and made available yesterday.

The Ilorin magistrate court had yesterday ruled that it had no jurisdiction to hear the matter and adjourned the case till October 21, 2024, while the PDP stalwart was remanded in one of the correctional facilities in the state.

Mohammed said that the arrest of the PDP chieftain was on the directive of the state Police Command over a petition written against him.

The state party Chairman, Rt. Hon. Babatunde Muhammed, who spoke with journalists at the court premises in Ilorin, condemned what the PDP described as alleged unlawful arrest, harassment, and remand of Sulu-Oloje.

WAP Commences Airing of New Papa Ajasco & Company Oct 15

sunday Okobi

After several weeks of massive nationwide publicity and funfair, Wale Adenuga Productions (WAP) has finally announced that the eagerly-anticipated Papa Ajasco & Company: Gen Z Papi TV Comedy would come live on air on October 15, 2024.

According to the organisation, “This new version of the multiple-award-winning Papa Ajasco & Company TV Comedy follows the titular character, Papa Ajasco aka Gen Z Papi, as he rises to

superstardom as a successful afrobeats musician while engaged in rivalry with another musician, Emperor Agu; starring the much-loved main charactersPapa Ajasco, Pa James, Mama Ajasco, Boy Alinco, and Miss Pepeiye, as well as several hilarious new supporting characters played by Jude Chukwuka, Jide Kosoko, Fatai Oodua (Lalude), Francis Odega, Yomi Fash-Lanso, Jaiye Kuti, Nobert Young, ShadeAyinke Ola (Iyalegba), Shirley Igwe, Oluchi Amajuoyi, and others.

‘FG

He recalled that the family had earlier secured an order from the Federal High Court, Abuja Judicial Division, seeking to enforce the fundamental human rights of his family. Bashir is being held by the police after he was arrested by the Force Intelligence DepartmentIntelligence Response Team (FID-IRT), supported by operatives from the Force Intelligence Department-Special Tactical Squad (FID-STS), for his alleged role in the Endbadgovernance and hunger protests in August this year. Defendants in the suit at the Federal High Court in Abuja are: the Inspector-General of Police, the Minister of State for Defence, Bello Matawalle, the State Security Service (SSS); the Chief of Naval Staff, the Chief of Defence Intelligence, Defence Intelligence Agency, and the Chief of Defence Staff.

Gommitted to Diversification of Economy through Food Crops’

Kemi Olaitan in Ibadan

This is just as he called on farmers in the country not to concentrate on production of cash crops alone.

Sharubutu stated this on the sideline of the International Conferences on Global Okra

The Executive Secretary of Agricultural Research Council of Nigeria (ARCN), Prof. Garba Hamidu Sharubutu, yesterday said the administration of President Bola Tinubu, is committed to diversify the economy of the country through production of food crops.

Round Table 11 and 5F Farming Conference-Breeding for Resilence, held in Ibadan, Oyo state.

The event was organised by the Foundation for Advanced Training in Plant Breeding (ATPBR), Maharashtra, India and the National Horticultural Research Institute (NIHORT), Ibadan.

Sharubutu said the administration of President Bola Tinubu placed more emphasis on the diversification of the economy hence the focus on shifting attention from production of cash crops to food crops such as okro.

Ondo Guber Poll: Group Petitions INEC, Demands Removal of REC

Fidelis david inakure

A group, Ondo State Vanguard, has petitioned the Chairman of Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, accusing the Resident Electoral Commissioner(REC) of the state, Mrs. Oluwatoyin Babalola, of plotting to manipulate the results

of the November 16 governorship election in favour of a particular party.

In the petition dated September 27, 2024, and filed on behalf of the group by Adeniyi Farinto & Co. (legal practitioners), the group alleged that Mrs. Babalola has been engaging in nocturnal meetings with the candidate and chairman of the party.

Basically, the petitioner demanded that Babalola should be redeployed from the state on grounds that she allegedly could not be fair if allowed to conduct the November 16, 2024, gubernatorial election in Ondo State. Besides, the petitioner alleged that Babalola had a handful of members of the party as her childhood friends while growing up in Akure, the state capital. The group said: “We were reliably informed by our clients that Mrs. Oluwatoyin Babalola was appointed as Ondo State Resident Electoral Commissioner on December 18, 2023, to replace Dr. Rufus Akeju preparatory to the off cycle governorship election in state on November 16, 2024.

Universal Insurance Boss Retires as Tenure Limit Policy is Enforced

As the enforcement of the 10-year tenure limit for the managing directors/chief executive officers and executive directors of insurance and reinsurance firms commences, the MD/CEO, Universal Insurance Plc, Mr. Ben Ujoatuonu, has been directed to

proceeded on retirement leave.

The industry regulator, National Insurance Commission (NAICOM), had queried Universal Insurance for its failure to adhere to the policy and threatened to impose stiff regulatory sanction, if nothing

was done.

In a letter sent to the company, NAICOM ordered Universal Insurance to suspend Ujoatuonu immediately and provide evidence within seven working days.

The commission also mandated Executive Director of Operations,

Dr. Japhet Duru, to take the reins as acting Managing Director for 90 days. In the letter titled, ‘Regulatory Directive-Enforcement Of Tenure Limit For Executive Director of Insurance and Reinsurance Companies in Nigeria.’

John shiklam in Kaduna

Lookman Contributes a Goal, an Assist as Atalanta Humble Shakhtar

Duro Ikhazuagbe

Nigerian international, Ademola

Lookman’s man-of-the-match performance last night helped Atalanta to register the club’s first away day success in the UEFA Champions League in five matches.

Lookman scored a goal and contributed an assist as Atalanta defeated Ukrainian side Shakhtar

CHAMPIONS LEAGUE

Donetsk 3-0 in a neutral ground in Gelsenkirchen, Germany. Shakhtar are playing their home matches at Schalke's ground due to Ukraine's ongoing conflict with Russia.

Against a backdrop of Atalanta coming from a goalless draw against Arsenal in their first game of the

Champions League two weeks ago, the Europa League champions looked assertive from the start of the game.

And Lookman was at the nick of the opening goal in the 21st minute by Berat Djimsiti. The Super Eagles forward’s superb delivery of the

ball into Shakhtar’s danger zone was expertly converted from close range by Djimsiti who was lurking around.

Soon after that goal, Atalanta came close to making it two as Lazar Samardzic was his effort redirected around his near post by Dmytro Riznyk for a corner kick that resulted in nothing for Gian Piero Gasperini’s side.

NFF Ponders New Rule Mandating Match Commissioners to File Reports Online

Olawale Ajimotokan and Oghenevwede Ohwovoriole in Abuja

In a bid to improve the Nigerian Premier Football League (NPFL) integrity, the Nigeria Football Federal (NFF), has proposed a new rule to the league this season.

The new rule will mandate all match commissioners to publish their match reports online not later than two hours after a match.

NFF President, Ibrahim Gusau, made the disclosure at a one-day seminar for the federation's match

commissioners organised by the league body yesterday in Abuja with the theme "Match Commissioning and the Challenges of Match Reporting".

Gusau noted that the era of waiting for hours or days for a match commissioner to submit a match report will soon be over, by the time the new online reporting rule is introduced.

“We want only the best hands to continue to function in the very important role of match commissioner in this country. Apart from the fact that this seminar will now

be biennial, we are going to conduct an examination to pick the very best who will always make us proud.

“I am sure that you are all looking forward to becoming FIFA and CAF match commissioners. You can only get to that level if you are competent, capable and digitally-literate. You must also consistently enhance your capacity.”

Gusau later announced that match commissioners who pass the upcoming examination, as well as referees and referee assessors, will be presented with new kits being sponsored by Premium Trust

Bank, official bank of the NFF and the National Teams.

NPFL Chairman, Gbenga Elegbeleye, said the major for him was the league's integrity, noting:" Your league is perceived outside from the way your people perceive it. Our officiating officials have been very impressive. So far, the NPFL officiating officials have been very fantastic with only a few exemptions. I want to thank NFF President, Ibrahim Gusau for providing our referees with modern communication gadgets,” concludes the NPFL Chief.

Tennis: Alcaraz Beats Sinner in Dramatic China Open Final

Carlos

came from a set down to edge out world number one Jannik Sinner in a dramatic China Open final on Wednesday.

Alcaraz, 21, continued his fine run of form against the Italian and has now won each of their last three encounters after coming through 6-7

(6-8) 6-4 7-6 (7-3).

It is the Spaniard's fourth ATP Tour title this year and 16th of his career.

"Jannik once again showed he's the best player in the world, he's unbelievable and plays such a high level of tennis," Alcaraz said.

"I had my chances in the first set and didn't take it. In general, I'm proud of the way I dealt with the match and managed everything.

"I never lose hope but I know he has great stats. I knew I had to give everything I had to give myself the opportunity."

Since suffering a shock secondround exit at the US Open, Alcaraz has bounced back to win nine matches in a row, including helping Team Europe win the Laver Cuplast month.

Alcaraz appeared to be on track for the perfect start when he moved into a 5-2 lead in the opening set, however, Sinner saved two set points

to force a tie-break, which he went on to win.

The pivotal moment in the second arrived in the ninth game, when Alcaraz seized his opportunity to secure a break before serving out for the set to take it to a decider.

There has been little to separate the pair in the early stages of their careers, with their head-to-head record now 6-4 in Alcaraz's favour, and it was another fine example of what the future of tennis has to offer in Beijing.

Elsewhere, Great Britain's Dan Evans was knocked out in the first round at the Shanghai Masters, having come through qualifying. Evans, 34, forced a deciding set, which he led 4-2, but eventually lost out in a tie-break against Brazil's Thiago Seyboth Wild, who won 6-2 4-6 7-6 (7-3) to set up a meeting with Russian world number five Daniil Medvedev.

In the 44th minute, Lookman who was Atalanta’s hat-trick hero in the Europa League final against Bayer Leverkusen last season, sublimely side-footed the ball past Shakhtar goalkeeper Riznyk for the Italian side’s second goal of the day.

Atalanta however wrapped up the game with just three minutes into the second half when Raoul Bellanova inexplicably caught defender Pedrinho napping to drive home the third goal for the Italian side.

After that goal, Atalanta took their feet off the pedal and just simply continue to enjoy the rest of their evening in Germany.

Meanwhile, the defeat leaves Shakhtar without a win so far across their last nine encounters with Italian sides. They need to do better in their next game to avoid seventh successive elimination at the first hurdle of the competition proper.

Elsewhere in another earlier kickoff, a pair of own goals meant Girona’s first-ever home UEFA Champions League game ended in a 3-2 defeat against Feyenoord.

AFCON 2025 QUALIFIERS

There are fresh fears that the injury suffered by Victor Osimhen is more serious than the striker himself has made out and he may now be out for several weeks.

This will make him a major doubt for forthcoming Super Eagles 2025 AFCON qualifiers against Libya. Osimhen injured his left hamstring during a Turkish Super Lig clash at Kasimpasa at the weekend.

The Napoli loanee played down the severity of the injury, but Galatasaray announced on Wednesday that Osimhen has begun treatment. It has already been reported that Galatasaray will not risk Osimhen

in today’s UEFA Europa League clash at Latvian club Rigas FS. Meanwhile, Libya mean business ahead of their 2025 AFCON double-header against the Super Eagles and as such they plan to storm Nigeria five days to their clash in Uyo.

The Super Eagles welcome Libya on October 11 in Uyo before both teams clash again four days later. Libya are bottom of the group with a points after two rounds of matches.

They will be in Nigeria with new coach Nasser Al-Hadahiri after the Serbian Micho was sacked following a poor run of results.

Ajimotokan

Isaiah Okonofua overcame initial nerves to emerge overall winner of Nigeria@64 Independence Golf Tournament at IBB International Golf and Country Club, Abuja.

The 9-handicapper returned 66 nett at the expense of 400 other contestants on the par 72 IBB golf course on independence day.

"At the beginning I was nervous because when I saw the draw, I discovered that I was paired with two professional golfers.

"I started poorly due to my nervousness, but I spoke to myself to stop comparing my game with that of the pros.

"From then on, the narrative changed and that was how I kept improving with every hole and played my best golf ever at the IBBIGCC," he admitted.

He was also euphoric about shooting 75 gross in addition to an opportunity to represent Nigeria in the single and double matchplay where Nigeria defeated Ghana to emerge champions.

Ten handicapper Sola Adebayo, won the Division 1 men (handicap

0-10 flight category) shooting 73 nett, while Grace Ihonvbere, playing off 16, won the ladies division 1 category with a similar 73 net. Also 10-handicapper, P. Uzezi grossed 80 to edge Mohammed Suleiman on count back for the men's Division 1 men category prize.

Godwin Okoko returned 4 under 68 to lead the professional pack.

Also Rachael Danjuma had the best gross of 80 to emerge winner in the ladies category.

The Captain, IBB Golf Club, Ibrahim Babayo, described this year's tournament as one of the most attended in the club's history.

In his remarks, the Chairman, organising committee, and vice captain of the club, Dr James Agbonhese thanked the guests and golf enthusiasts for honouring the club's invitation, adding that the tournament had brought together golfers from diverse backgrounds, ages and skill levels.

Also, former Captain, IBB Club, Joe- Kyari Gadzama (SAN), described the Nigeria @64 independence golf tournament as a veritable way of celebrating the country.

Ademola Lookman (left) scored and provided an assist as Atalanta defeated Shakhtar Donetsk 3-0 in a UEFA Champions League in Germany... last night

Carlos Alcaraz defeated Jannik Sinner to win the China Open ...yesterday

Olawale

in Abuja

Alcaraz

Kennedy Ahanotu to Bola Tinubu

“This conference was initiated to divert the attention of Nigerian youths. What Nigerian youths have been asking for is good governance. When transportation, education, healthcare, and other sectors are functioning, why do we need a national youth conference?”—TheLabourPartyNationalYouth Leader,describingtheideaofayouthconferencebeingproposedbythepresident asasuperficialapproachtoaddressingurgentnationalissues.

olusegun AD e NIYI

‘How Can Nigeria Help Britain?’

For as long as I can remember, Nigeria’s October 1 independence anniversary has been an occasion for lamentations. It is a day in which our founding mothers, fathers, brothers, sisters, uncles, and aunties are featured in newspapers bemoaning the situation in our country - without anyone taking responsibility. But while the socio-economic situation remains dire, we have been spared a lot of that hypocrisy in recent years, perhaps because the generation born decades before independence has dwindled considerably. That said, it is not a bad idea to look back as we seek to leap forward.

The crisis of the moment is evident in virtually all sectors. From the debt overhang to the national currency whose value diminishes by the minute to the oil and gas sector where the bounty of nature abundantly available on our shores has been ceded to thieves. Security wise, Nigeria is in a state of anomie. Government—the only human invention meant to separate men from beasts—has lost the monopoly of violence to sundry criminal cartels. Whether on the road, at school or in the marketplace, death has become an unscheduled consequence of normal living for citizens. But I am not here to join the perpetual ‘wailing wailers.’ The foregoing catalogue of misdeeds is simply to remind us of some of the challenges that we still grapple with as a nation. But that’s not the thrust of this intervention.

Today, I want to rely on two archival materials currently doing the rounds among a select audience on WhatsApp as I reflect on the 64th independence of Nigeria and the road ahead. The first, from where I took the title of this column, is a 1947 newspaper advertisement in the United Kingdom. It begins with a quote credited to the Colonial Secretary, Mr Creech Jones, a few days earlier, on 21st August 1947: “I feel sure that Colonial peoples will want to understand the nature and the extent of the present economic difficulties facing us, and in particular how they affect Colonial territories and what the colonies can do in collaboration with us to win through to conditions of greater stability and prosperity.” Those words, according to the advert, “have direct bearing on the visit of the Goodwill Mission of the National Council of Nigeria and the Cameroons to this country.”

Members of the public were then invited to the meeting scheduled for Tuesday, 9th September 1947 at 7-30 p.m. in Houldsworth Hall, Deansgate. “Speakers will include Members of the Goodwill Mission of the National Council of Nigeria & Cameroons who will visit Manchester.” These visitors were listed as Dr Nnamdi Azikiwe, President N.C.N.C. Elected Member of Legislative Council Nigeria; Prince Adeleke Adedoyin, Secretary N.C.N.C., Elected Member of Legislative Council, Nigeria; Dr Ibiyinka Olorunimbe, Elected Member of Legislative Council, Nigeria; Mallam Buka Dipcharima, Former Member of Maiduguri Council, Nigeria; Chief Nyong Essian, Former President Ibibio Union, Nominated Member of Legislative Council, Nigeria; Mrs Funmilayo Ransome-Kuti, Educationist, President Abeokuta Women’s Union and Mr P.M. Kale, Educationist, President Cameroons Youth League. The forum was organised by the Pan-African Federation of Great Britain whose office was then located at number 58 Oxford Road, Manchester to see how Nigeria could help the United Kingdom

to overcome its economic challenges at the period.

I am well aware that this was a colonial era with all its exploitation. So, one can argue that taking from us was not necessarily out of need by the United Kingdom but rather due to greed. But the fact also remains that Nigeria was in a relatively comfortable economic situation at the time, based on the productive capacity of our people. Though largely agrarian, since we are talking about a pre-oil period, the fundamentals of our economy were stable in the pre-independence days.

The second publication is a declassified 21 May 1975 American Central Intelligence Agency (CIA) document titled, ‘Lagos Emerging as a Modest Aid Donor’. It reads: “The Caribbean Development Bank has become the latest beneficiary of the modest aid effort that Nigeria has mounted in recent years to advance its claims to leadership in Africa and its international prestige. General (Yakubu) Gowon announced a $2.5 million loan to the bank upon his return from the recent Commonwealth heads of state conference in Jamaica and official visits to Barbados, the Bahamas, and Guyana.

“Since 1972, Nigeria has extended approximately $380 million in known loans and grants to individual governments and international financial institutions. Of this total, Nigeria has lent $240 million to the World Bank, and $120 million to the International Monetary Fund’s special oil facility that makes loans to countries to help cover their oil import requirements. The remaining $20

million has been distributed largely in Africa, particularly to the countries of West Africa and to regional organizations such as the Organization of African Unity and the African Development Bank.

“Nigeria, black Africa’s most populous country, is using the bulk of its oil wealth—oil earnings totalled $8.9 billion in 1974—to finance domestic development programs aimed at improving the lot of its own citizens whose per capita income averages less than $300 per year. The military government is determined not to let its aid activities become a drain on the treasury. In the future, General Gowon has said that Nigeria will emphasize loans to development banks rather than bilateral assistance. The Nigerians probably feel that development banks are in a better position to ensure that the loans will be used for the purposes given and that they will be repaid.”

Fifteen years after independence and five years after the end of a costly (in human and material terms) civil war, we can decipher from the second document that Nigeria was in a strong situation economically. It is indeed remarkable that we made $8.9 billion from oil sales in one year. Taken together, both the 1947 advert in which we were being asked to help the United Kingdom and the 1975 CIA document which reveals that less than 50 years ago we had enough to play ‘Father Christmas’ to the same World Bank and International Monetary Fund (IMF) that we now go cap in hand to borrow from, tell a compelling story about Nigeria.

In his broadcast on Tuesday, President Bola Tinubu admitted being aware of the economic hardship faced by Nigerians due to the current reforms by his administration. Tempting as it may be to focus on what has been left undone and where our country has stumbled, the president argued, and quite correctly, Nigerians must never lose sight of how far we have come as a people. “While we celebrate the progress we have made as a people in the last sixty-four years, we must also recognise some of our missed opportunities and mistakes of the past,” Tinubu charged. “If we are to become one of the greatest nations on earth, as God has destined us to be, our mistakes must not be allowed to follow us into the future.”

I agree with the president that we cannot continue to bemoan the past or repeat the same mistakes and expect to develop as a country. But talk is cheap. Yes, we cannot continue to run government devoid of transparency and accountability and expect development. We cannot continue to accumulate debt, deluding ourselves that we can borrow our way into prosperity. We cannot continue to pretend that it is in our long-term interest to deny our young men and women opportunities for self-advancement in their own countryleaving them no choice but to flee Nigeria. We cannot substitute a regime of sharing

Taken together, both the 1947 advert in which we were being asked to help the United Kingdom and the 1975 CIA document which reveals that less than 50 years ago we had enough to play ‘Father Christmas’ to the same World Bank and IMF that we now go cap in hand to borrow from, tell a compelling story about Nigeria.

‘palliative’ and bags of rice (even if its an upgrade on ‘Agbado-nomics’) for a serious national economic plan. And while this may be an inconvenient issue to discuss in our country, we also cannot continue to breed a largely unproductive population that is growing at an exponential rate without consequences. Going by the 2024 World Population Data Sheet released by the Population Reference Bureau (PRB) last week, Nigeria’s population is projected to post a 54 per cent increase by 2050. Meanwhile, Nigeria’s current estimated population of 232 million people is equivalent to 2.85 per cent of the total world population. The PRB provides global, regional, and countryspecific data on population growth and decline, age structure, and fertility. Indicators project that Africa will account for 62 percent of global population growth. That Nigeria has a young population should be an advantage but sadly, it is not. We make no serious investment in education or health while out-of-school children in Nigeria are almost twice the entire population of some of the countries within the subregion.

In his book, ‘Reclaiming the Jewel of Africa: A blueprint for taking Nigeria and Africa from potential to prosperity’, published last year, former Finance Minister, Olusegun Aganga, highlighted three critical factors for sustainable growth on the continent, with a special focus on Nigeria. They are political, economic and social institutions. When these three properly align, they ultimately help to provide stability in the system and engender shared prosperity, according to Aganga, who draws relevant examples from countries that have leveraged on these three critical factors for the advancement of their people. While interrogating why the whole of our country remains less than the sum of its parts, one of the issues addressed by Aganga is that of population. “We have a quantity advantage, and our demographic is the envy of the rest of the world”, Aganga wrote to buttress his point on the benefits of young population, if properly harnessed. “The average age in Nigeria is about 18.6 years. This compares to about 42.5 years in Europe and 38.4 in China.” But Aganga expressed concerns that every year “Nigeria adds 5.5 million people to its population, which is about the population of Congo, Namibia, Liberia, Mauritania and the Gambia, among others.” He then contrasted our population with that of the United Kingdom that was seeking our ‘help’ just about 77 years ago. At independence in 1960, the population of Nigeria was 45.2 million. That same year, the population of the UK was 52 million. Today, the UK is about 69.2 million. That means we are now more than three times the population of a country that was larger than us at independence with a fraction of their resources!

I concede the fact that Nigeria has come a long way and that at 64, there is much to celebrate. But there are also so many things that need to change, beginning with an uncontrolled population growth that is not backed with any infrastructural support. It should worry critical stakeholders that the only thing we are producing at a comparative advantage in Nigeria today are babies! Hence, the need for an enlightenment campaign on responsible procreation. Nigerians must begin to understand that only a moderate population growth that enables a high quality of life for citizens can guarantee a sustainable society.

President Bola Tinubu