FRIDAY 6TH OCTOBER 2023

Oil Marketers to FG: Our Businesses Collapsing Due to Foreign Exchange Depreciation, Bad Roads

Emmanuel Addeh in Abuja Oil marketers under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) yesterday, alerted the federal

Want products’ imports pegged at N600/$ for three months Say deteriorating infrastructure will negatively impact N100bn CNG project requesting that foreign exchange

government to the harsh working environment its members currently operate.

In a press briefing in Abuja, by the National President of the organisation, Mr. Benneth Korie, NOGASA stated that the high dollar exchange rate against the naira rate was killing its businesses,

Tinubu to Teachers: You Will Get Your Due Reward Under My Watch... Page 6

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Bagudu: Economic Summit to Inspire Confidence in Country

L-R:Executive VP, Industrial Leasing of TECOM Group, Saud Abu Al-Shawareb; CEO, Abdulla Belhoul; Executive Vice Chairman, TGI Africa, Farouk Gumel; CEO, Nutridor, Sankha Biswas; Ambassador of the Federal Republic of Nigeria to the UAE, Mohammed Dansanta Rimi; DG, Dubai's Department of Economy and Tourism, Helal Saeed Almarri; DG Dubai Municipality, Dawood Abdulrahman Al Hajri, and Assistant Undersecretary for the Food Diversity Sector, Mohammed Mousa Alameeri, at the Ministry of Climate Change and Environment of the UAE…recently

The Minister of Budget and Economic Planning, Senator Abubabar Bagudu, yesterday, said the administration of President

Continued on page 5

Tinubu Violated the Grundnorm of Nigeria’s Electoral Laws, Says Atiku

peace Says political relationship with president broke down in 2007 Kalu: There’s no question, certificate with INEC is forged Your desperation is unbecoming, APC replies ex-VP Labour Party welcomes Atiku’s invitation to Obi

Chuks Okocha and Adedayo

Akinwale in Abuja

Former Vice President and presidential candidate of Peoples Democratic Party (PDP) in the February 25 general election, Atiku Abubakar, yesterday, declared that President Bola Tinubu had serially violated the basic norm that underpinned Nigeria's electoral laws by presenting fake documents to the Independent National Electoral Commission (INEC).

Atiku made the assertion in Abuja while addressing a world press conference on the outcome of the deposition by Chicago State University (CSU) on Tinubu’s academic records.

The former vice president said with his successful effort to unravel

Continued on page 5

VISIT TO BESTAF LUBRICANT PLANT AT MRS TERMINAL...

L-R: Executive Director, Bestaf Holdings, Joseph Ugbo; Executive Director, MRS Holdings, Taiwo Longe; Group Chief Operating Officer, Amina Maina; Chairman/Group Chief Executive Officer, MRS Holdings/Bestaf Holdings, Sayyu

James Emejo in Abuja

Fawehinmi’s soul can now rest in

Century Completes FSO Mooring to Unlock San Leon Exports

To provide evacuation, storage, offtake for producers

Emmanuel Addeh in Abuja

Century Energy Services Ltd (CESL) has completed the mooring of a Floating Storage and Offloading Unit (FSO) offshore Bonny, capable of storing 2 million barrels. An FSO is an offshore unit equipped for crude storage and offloading to a shuttle tanker while mooring is any permanent structure to which a seaborne vessel may be secured.

Energy Link Infrastructure owns the ELI Akaso and CESL operates and manages the facility. CESL said it

TINUBU

VIOLATED

Tinubu, the soul of the late human rights activist, Chief Gani Fawehinmi, who sustained the struggle for a just society till he passed on, could now rest in peace.

He also cleared the air about his relationship with Tinubu, saying it broke down since 2007, and he had since stopped doing contracts with the government for obvious reasons.

Atiku invited fellow contestants in the last presidential election, particularly Peter Obi of Labour Party (LP) and Rabiu Kwankwaso of New Nigeria Peoples Party (NNPP), to join his campaign “to enshrine probity, accountability and the basic principles of justice, morality and uprightness” in Nigeria’s government and politics.

LP welcomed the invitation, in a statement by its National Publicity Secretary, Obiora Ifoh.

One of Atiku’s lawyers, Kalu Kalu, who was asked to shed more light on some aspects of the deposition by the registrar at CSU, Caleb Westberg, said the certificate presented to INEC by Tinubu was undoubtedly fake.

Westberg’s testimony in a United States court, in a suit by Atiku, is the basis of the latest unravelling of the decades-old mystery behind Tinubu’s academic qualification.

However, the leadership of the ruling All Progressives Congress (APC) accused Atiku of acting in desperation, describing the alleged extreme behaviour as unbecoming of a statesman, who once occupied the second highest office in the land.

Addressing the world press conference, Atiku said, "Our elections are established and governed by law and founded on the constitution from which leadership and government in Nigeria alone derive their legitimacy.”

He stressed, "The people look up to us as leaders to respect these rules and, where necessary, to defend

would provide “evacuation, storage and offtake” for producers in the area.

EnergyLink Managing Director, Adekolapo Ademola, in his comments, said the development would ensure high-return asset investments, ensuring consistent cash flow for the foreseeable future to all our stakeholders.

“This exemplifies our strategic approach to addressing both current and future demands of the oil and gas industry. We remain steadfast in our commitment to pursuing the most resilient, competitive,

and high-return asset investments, ensuring consistent cash flow for the foreseeable future to all our stakeholders,” he stated.

Ademola noted that projects such as the FSO allowed the company to meet growing demand from the company’s customers.

“They are increasingly focused on enhancing their production and supply security, a concern that’s gaining prominence among global industry stakeholders.”

The ELI Akaso should address challenges around exporting and storing crude, the company said as

per the Energy Voice report. Chief Executive Officer, CESL, Ken Etete, in his remarks, said the new terminal mooring, “significantly advanced our collaboration in oil and gas infrastructure,” stressing that EnergyLink would work with CESL again.

“CESL aims to rapidly expand hydrocarbon storage services not only in Nigeria but also internationally. This aligns seamlessly with our infrastructure vision,” he added.

CESL is part of Century Group, which was founded in 2002. The

THE GRUNDNORM OF NIGERIA’S ELECTORAL LAWS, SAYS ATIKU

them. This is what brings us here. We undertook this journey at great cost and for important reasons. The ground rules for legitimate governance in our country need to be upheld, and the reputation of our country is at stake. That affects everyone, Nigerians everywhere.

"I am a democrat by conviction and a citizen of a country that I love. The issues at stake in this case require us once more to re-dedicate ourselves to both the country and our constitution. Now, we entrust these facts to us all as citizens and as leaders of the institutions charged with interpreting our constitution.

“I should thank the lawyers both in Nigeria and in the United States, who have assisted us in bringing clarity and definitive answers to these issues that appear to have defied our institutions for nearly a quarter of a century.

“I also want to extend my gratitude to Nigerian citizens and friends of Nigeria both within and beyond the shores of our country for their patience as we have sought to find the facts and establish the truth."

Atiku said of Fawehinmi and other justice advocates, including the media, “I wish to pay tribute to the late human rights activist, Chief Gani Fawehinmi, SAN, who inspired us on this path of discovery. Now, he can truly rest in peace in the assurance that what he started about 23 years ago has come to fruition.

"Gani’s vindication today gives credence to the saying that no matter how fast a lie runs, the truth will someday overtake it. Former American President Thomas Jefferson once said, ‘If I had to choose between government without newspapers, and newspapers without government, I wouldn’t hesitate to choose the latter.’

"From exposing the Watergate scandal and unravelling the dubious

certificates of politicians, journalists have maintained eternal vigilance by bridging the gap and stepping in when other arms of government failed. It is for these reasons that commendation must be given to David Hundeyin, an independent journalist, whose extraordinary work, and those of many more young people like him, has become a source of inspiration.

"Special thanks must be given to the millions of Nigerian youths and citizen journalists, too, who continue to put out the truth online even when no one is listening. Indeed, the price of Liberty is Eternal Vigilance. They have put the country first in their firm commitment to unravel the truth and hold leaders accountable. This gives me the hope that we have worthy partners in the struggle to reclaim the country we call home.

"This quest is not for or about Atiku Abubakar. It is a quest for the enthronement of truth, morality, and accountability in our public affairs.”

Atiku also held out the olive branch to others who contested the presidential poll with him, saying, “In line with this, therefore, I am calling on all well-meaning Nigerians, leaders of thought, our religious leaders, our traditional leaders, our community leaders, our political leaders, and in particular, Governor Peter Obi of the Labour Party and Governor Rabiu Kwankwaso of the NNPP and, the leaders of every political party in Nigeria, and, indeed, every single person who loves this country, as I do, and who wishes nothing but the best for the country, as I do, to join me in this campaign to enshrine probity, accountability and the basic principles of justice, morality and uprightness in our country and in our government. This is a task for each and every one of us."

The PDP presidential candidate stated, "Political leadership and active citizenship matter because they are ways through which we all work together to build a country that

company also works on the FPSO Tamara Nanaye, Tamara Tokoni and Tamara Elmina. The first was previously the Front Puffin, on OML 113, and the second was the Armada Perdana on OML 119.

San Leon Energy reported in April that Century Group had struck a deal with ELI on the ELI Akaso. The oil company said a 47-km undersea pipeline would run from OML 18 to the FSO, with throughput of 100,000 barrels per day of oil.

There was no mention of the pipeline from CESL. San Leon had previously said it expected this to

works for all who live in it. Our country is bigger than any of us, and its standing in the world affects the fate of all who come from or live in it. As leaders, it is our duty to advance the well-being of all our people and of the country."

He said it was, "For this purpose, my generation worked hard to return the soldiers to the barracks and to defend the right of the people to elect and establish for ourselves a legitimate government.

"Today, we are called upon again as a people to uphold and defend the ground rules of elective government in our country. The constitution prescribes the requirements for those who seek the highest elective office in the land.

"It should not take months or, indeed, decades, for the institutions concerned to be able to do their work in establishing the credibility of any certificates presented by candidates for public office."

Fielding questions on his political

be completed in the second half of 2023.

EnergyLink’s Ademola, also a non-executive director of San Leon, said working with Century would help ensure delivery of value to shareholders.

“It should expedite our ability to deliver value to our key partners and shareholders,” he pointed out. San Leon bought a 10 per cent stake in EnergyLink in 2020. The company struck a deal in August to lend cash to EnergyLink, with the scope to increase its stake to 16.2 per cent.

relationship with Tinubu, and if the CSU controversy would not affect their future relationship, Atiku said, "I beg to disagree with Tinubu. Yes, it is true in 2007 we came together and I emerged the winner and became the presidential candidate of the Action Congress at the convention in Lagos and got the ticket.

"He sent about five or six seniors, and some of them are here. They met me and said Tinubu wanted to be my running mate and I said that you are all old enough, what will be your reaction to have Muslim-Muslim ticket and they all objected to it and I said, then, why did you come to me. And that was the end of our political relationship.

"In 2003, the PDP took over all western states and I told Obasanjo should leave Lagos for him. So, who is betraying who? And till today, I will not do Muslim-Muslim ticket. We are multi-ethnic and our government

Continued on page 36

BAGUDU: ECONOMIC SUMMIT TO INSPIRE CONFIDENCE IN COUNTRY

Bola Tinubu would work with the private sector to boost confidence in the economy in order to drive job creation, economic growth and the realisation of the country’s potential.

Bagudu spoke at a media briefing on the forthcoming 29th Nigerian Economic Summit (NES#29) with the theme: “Pathways to Sustainable Economic Transformation and Inclusion.”

He said both the public and private sector would collectively design and prioritise strategies to unlock untapped potentials, foster sustainable economic transformation and promote shared prosperity for the nation.

This was as the Chairman, Nigerian Economic Summit Group,

Mr. Olaniyi Yusuf, expressed worry that while there has been a broad decline in poverty worldwide, both extreme and moderate poverty remain and continue to increase in Nigeria.

The minister, however, said the two-day summit scheduled to hold between October 23 - 24, 2023, would send a strong message on the avowed commitment of the present administration for effective collaboration with the private sector in achieving a sustainable and inclusive economic transformation.

He said the government’s strategy was to provide a modern and efficient infrastructure, promote the expansion of the private sector through deliberate policies for the formalisation of informal sector, and

OIL MARKETERS TO FG: OUR BUSINESSES COLLAPSING DUE TO FOREIGN EXCHANGE DEPRECIATION, BAD ROADS

(FX) for importing fuel should be pegged at N600 for the next three months.

The oil marketers recalled that while they recently applauded the removal of fuel subsidy, they had equally warned and advised that the right steps be taken to cushion its effects for the survival of citizens and their businesses.

NOGASA raised concerns over the growing challenges of petroleum products procurement and distribution, especially with the attendant hardships resulting from increases in pump prices of petrol and diesel across the country.

“NOGASA is seriously worried that between now and December this year, in the absence of government urgent intervention, there will be increasing losses of lives, businesses and jobs.

“This will be accentuated by mass shutdown of filling stations and packing up of petroleum tankers, all due to unattainable high cost of importation, lifting, transportation and distribution of petroleum products,” Korie stated. He said the price of diesel has hit N1,000 per litre, pointing out that suppliers were at the very 'bitter' receiving end of the precarious development. Similarly, Korie noted that depot

owners were terribly affected by the increasing cost of the exchange rate to the extent that many depots are practically deserted as their owners are unable to secure bank loans to fund their businesses due to high interest rates.

“Banks are not willing to guarantee funds release to stakeholders as a result of the difficulty, instability and galloping rates of foreign exchange and high cost of the dollar.

“Many depots are presently dried up or out of stock, and there is no gainsaying this as it is evidently verifiable.

“Worst hit are filling stations whose owners find it extremely difficult to secure funds to procure products for their retail outlets and both the independent and major marketers are so terribly affected that as at today, filling stations are shutting down in great numbers on a daily basis.

“Also, dealers are going out of business with many more on the verge of bankruptcy because of their inability to secure funds to facilitate orders for their stations,” Korie added.

He, therefore, stressed that government must urgently come to the aid of the industry as quickly as possible to save it from an impending ‘colossal collapse’ which will in turn

result in a more devastating blow to the economy at large.

“Indeed, the success of this government highly depends on the survival of the oil industry, whose critical stakeholders are presently most negatively affected.

“We wish to once again and most sincerely reiterate that the only realistic option out of this dire situation for now is for government to urgently consider to expedite the provision of ‘emergency palliative measures’ for marketers.

“This will be such that fuels can be imported at the rate of at least N600 per dollar for the next three months while waiting for the promised reactivation of our refineries.

“This will go a long way in cushioning the harsh effect of the high cost of importation and equally bring about reasonable reliefs to the business and cost of living generally,” he explained.

NOGASA lamented that the state of Nigeria’s roads continues to make a very strong statement against government's responsibility for infrastructural provision and maintenance.

The organisation noted that petroleum products distribution is, and had been severely hampered by roads that are no longer passable.

According to the association, this development was already a waiting threat to the laudable Compressed Natural Gas (CNG) initiative of President Bola Tinubu.

“These conscious and practical solutions are therefore suggested to engage the local workforce to speedily refurbish and/or resuscitate bad roads across the country.

“This will also create thousands of jobs for jobless youths and other restive people in our communities, which will definitely be a plus for this administration,” NOGASA added.

These suggestions, it said, were highly important as effective products distribution requires effective provision and maintenance of roads network across the nation.

“Finally, government should do everything to ensure the removal of all things that have to do with challenges in the areas of importation as well as clearing in NIMASA, NPA, DPR and other agencies that are involved with dollar transactions for marketers.

“The bottlenecks are simply killing us. Our businesses are dying and the system is not helping us at all. An urgent action is highly required to save our industry from total collapse. A stitch in time saves nine!” the oil marketers said.

ensuring good governance.

Bagudu, stressed that the pathway to sustainable economic transformation and inclusion depended on innovative policies, robust workable institutions, strategic investments in infrastructure, upskilling our human capital, encouraging entrepreneurship and innovation, and leveraging digital technology.

He said through targeted reforms, increased transparency, and good governance, Nigeria could unlock its immense economic potentials, attract foreign investments, equip the youth with the skills and resources they need to leverage the opportunities of the digital era, as well as improve the quality of life for Nigerians.

He said the summit further seeks to cultivate a people and technologycentered approach to addressing emerging trends, shaping a future of inclusive and sustainable economic growth.

The minister said the sub-themes would also address relevant pillars in the National Development Plan 2021-2025, the Nigeria Agenda 2050 and the Renewed Hope Agenda, including demographic issues, and dealing with social problems such as poverty, unemployment and inequality, as well as the expansion of fiscal space through improved revenue generation and promotion of good governance.

He emphasised that the main target of the Nigeria Agenda 2050, was to increase the country’s per capita GDP to $6,000 and $33,000 by 2030 and 2050 respectively.

This, he said, would reduce poverty rate to 0.6 per cent and unemployment rate to 6.3 per cent, while transiting the economy to the highest per capita GDP in the group of upper-middle income economies.

He pointed out that the ‘Renewed Hope’ agenda and eight priority areas of the current administration are aimed at fast-tracking the goals of the Nigeria Agenda 2050 and the National Development Plan 2021-2025 with a double-digit growth rate and inclusive development.

He disclosed that the ministry was in the process of conducting the midterm review of the NDP 2021-2025 with the purpose of fine-tuning the

plan and ensuring that the renewed hope agenda is incorporated into the NDP 2021-2025.

He said the ministry would welcome innovative ideas from the stakeholders at the summit to ensure its effective integration into the NDP 2021-2025.

He said the summit had become the largest and foremost annual convergence for public sector policy makers and private sector industry leaders in the country, bringing together development partners, civil society organisations and representatives of the academia.

Speaking at the briefing, Yusuf, pointed out that amid a rapidly changing global economic landscape and increasing inequalities, a strategy for sustained growth must ensure a form of industrialisation that makes opportunities accessible to all people and broadly distributes income and non-income gains across society.

He said government’s inability to fully integrate solutions to social issues into targeted industrial and economic policies undermines the country’s developmental potential, widening income inequality gaps.

He said low productivity, inadequately diversified local economic activity, high unemployment rates and job insecurity remained a challenge for the country.

He noted that with a predominantly young population and a high debt burden, Nigeria must chart a trajectory that ensures inter-generational and sustainable growth, adding that the country had encountered various economic and political obstacles in recent years, underscoring the urgent need to redesign its systems and address structural issues.

The NESG chairman stressed that the need to translate economic growth into improved living standards for all its citizens remained one of Nigeria's pressing concerns.

Among other things, he said the summit would, “prioritise strategic collaborations, evidence-based policies, data-driven metrics, and human talent development to drive economic progress, focusing on the role of technology and innovation and sub-national and local governments as drivers of economic growth and development.”

WORLD TEACHERS’ DAY...WORLD TEACHERS’ DAY... WORLD TEACHERS’ DAY...

TEACHER'S DAY CELEBRATION IN ABUJA...

Tinubu to Teachers: You Will Get Your Due Reward Under My Watch

Orders revision of guidelines to prioritise IT, AI, others as teaching technologies

NHRC advocates conducive environment for teachers

Governors pledge improved welfare for teachers

NUT: Why there is mass exodus of teachers from Niger State schools

Our correspondents

President Bola Tinubu has assured teachers in the country that his government will ensure they get their due reward.

In the same vein, some state governors yesterday, pledged improved welfare for teachers in the country.

Also yesterday, the Executive Secretary of the National Human Rights Commission (NHRC), Dr. Tony Ojukwu, called on government at all levels to put adequate measures in place to create a more conducive environment for teachers to thrive.

This was just as the Nigeria Union of Teachers (NUT), Niger State Chapter, attributed the mass exodus of teachers from schools in the state to poor remuneration, lack of adequate welfare and teaching materials for teachers as well as decayed educational infrastructure.

They all spoke separately during their respective commemoration of the 2023 World Teachers’ Day.

Tinubu, who gave the pledge during the 2023 World Teachers' Day commemoration at Eagle Square, Abuja, regretted the challenges confronting Nigerian teachers, including overcrowded classrooms, scarce resources and limited opportunities for professional development, which he said were the result of prolonged neglect of the noble profession.

Tinubu, who was represented by Vice President Kashim Shettima, noted that Nigeria's future could only be safeguarded by investing in education, empowering the teachers and providing every child with the tools to reach their dream destination.

Delivering the President's keynote address titled, "Teacher Appreciation: Nurturing Minds, Changing Lives," Shettima said, "Our commitment to actualising our education reforms is to drive the emergence and sustenance of a system that recognises that education is the mother of new ideas and groundbreaking discoveries.

"With well-taught workforces, we are not only going to build a nation that thinks but one that lives in an interconnected world, a world where the exchange of knowledge and ideas knows no boundaries. Without motivated teachers, we can't build a nation that fosters such international cooperation, builds bridges of understanding, and addresses global challenges such as climate change, poverty, and healthcare.

“So, education, to us, and I believe to you too, is not just a means to individual success; it is a path to global harmony and sustainable development.

"Of course, our dear teachers, we are not just going to focus solely on technological advancements. The human aspect of education is just as critical as the infrastructure. Our teachers deserve to be treated with the respect and dignity they deserve.

“It is my promise that we will work tirelessly to build a society where the teacher's reward begins to manifest here on earth".

Noting that every educated person is a product of teachers, President Tinubu expressed the nation's gratitude to Nigerian teachers, reassuring them that their profession is a prime in the vision for the nation and her development agenda.

According to him: "So, this day is more of a thanksgiving to honour those who have nurtured us, those who have guided us toward the hills upon which we stand today.

"I believe that there's no vehicle that can transport you to your destination as safely as education. It is the reason every child, regardless of their background, awaits a future of vast possibilities. It is the reason the child of a disadvantaged family in a remote village clings to the same future as children from privileged homes with certainty.

"Education is the miracle that changes the fortune of a family in a single generation. Thanks to you, our dear teachers, we have broken down barriers and created a society where merit, talent, and hard work supersede the circumstances of one's birth.

"So, by investing in education, by empowering our teachers, and by providing every child with the tools to reach their dream destination, we have safeguarded the future of this nation."

Observing that the world had undergone serious changes, the President said in the age of artificial intelligence where technology was transforming every facet of lives, teachers face new challenges and opportunities in a digital era.

Tinubu disclosed that he had directed the Ministers of Education to collaborate with the Head of the Civil Service of the Federation to comprehensively revise existing guidelines, "to ensure that anyone seeking to benefit from this Act

must be fully prepared to return to the classroom, equipped with the latest teaching techniques and skills, especially in the realm of information technology."

He continued: "I am pleased to share with you a significant policy initiative, the Harmonised Retirement Age of Teachers in Nigeria Act 2022, which allows our dedicated teachers to continue their invaluable service for up to forty years or until reaching the age of sixty-five, whichever comes first.

“This measure is designed to retain the wealth of experience within our educational system and bolster the number of educators in our schools.

"I encourage each of you to consider taking advantage of this policy, but please bear in mind that eligibility is not automatic. To benefit from this Act, you must possess contemporary teaching skills, including proficiency in information technology, as we strive to equip our students for both the challenges of today and the opportunities of tomorrow."

Recalling that the role of a teacher had moved from not only imparting knowledge, the President said it has extended far beyond that, and they are now expected to be technologically adept, adaptable, and innovative.

"They must equip their students with skills that are relevant to an everevolving job market, where automation and AI are becoming increasingly prevalent. Our commitment to education must evolve with the times.

"Our plan for the education sector is to make it a system capable of harnessing the potential of new learning technologies. Our agenda is to build a system where artificial intelligence, augmented reality, and virtual classrooms are not mere buzzwords. They are tools that can revolutionise the way we teach, learn, and think.

"We are going to invest in modernising our educational infrastructure and make sure that we are in step with the world on the road to the future," Tinubu added.

On what informed government's decision to present the President's Teachers and Schools Excellence Awards this year, the President said improving the condition of teachers was not enough.

His words: "This is why we will foster a culture of appreciation for our teachers. This is why we will recognise their contributions not just on World Teachers’ Day but throughout the year.

"Our teachers are not only educators but also mentors, guides, and role models who shape the character and aspirations of our children. Every nation reflects the satisfaction of its teachers."

Earlier in his opening remarks, Minister of Education, Prof. Tahir Mamman, said the day offers opportunity for society to celebrate its true heroes, describing teachers as the champions of Nigeria's transformation. He said celebrating and rewarding excellence in the teaching profession was government's way of encouraging and attracting qualified persons to the sector.

On his part, the National President of the Nigeria Union of Teachers, Audu Amba, acknowledged and commended efforts of government to improve the welfare of teachers and their working condition, particularly the sustenance of existing initiatives to reward excellence and hard work.

While calling on governments across different levels to scale up funding for the education sector, the NUT president urged teachers to embrace innovation in technology, just as he appealed to stakeholders to provide digital tools as well as training opportunities to enhance teaching and learning.

He also called on government to provide adequate security in schools across the country, as well as make the teaching profession more attractive by improving welfare and infrastructure, especially in public schools.

NUT: Why There is Mass Exodus of Teachers from Niger State Schools

The Nigeria Union of Teachers. Niger State Chapter, has attributed the mass exodus of teachers from schools in the state to poor remuneration, lack of adequate welfare and teaching materials for teachers as well as decayed educational infrastructure. The union also attributed the situation to government's refusal to implement agreements reached with teachers in addition to refusal to fully implement the Teachers Salary Scale (TSS) structure.

The State Chairman of the union, Akayago Adamu Mohammed, made the revelations in Minna, while speaking at the ceremony to mark this year's World Teachers Day which had as its theme: "The Teachers We Need for Education We Want: The Global Imperative to Reverse Teacher

Shortage," at Minna.

Akayago, stated that 10 years after the Nigeria Governors’ Forum (NGF) approved the TSS for teachers across the country, "only eight per cent and two per cent have been implemented for professional and non-professional teachers in the state,” adding that the N30,000 minimum wage has also not been fully and properly implemented for secondary school teachers as agreed with organised labour.

"These and others have contributed to the Mass Exodus of teachers from the state" Akayago declared adding also that, "teachers deserve special palliative package arising from the present most challenging working economic situation in the country.”

The NUT chairman however commended teachers in the state for, "keeping their heads high even in the face of all odds."

The State Governor, Alhaji Mohammed Umar Bago, in an address to the event promised that all issues that have to do with education at all levels would be given top priority by the administration.

Bago, who was represented by his Deputy, Yakubu Garba, said government had already paid N4 billion counterpart funds to donor agencies, saying physical drawdowns would soon commence before advising that judicious use of the funds should be made to justify the huge investments.

NHRC Advocates Conducive Environment for Teachers

The Executive Secretary of the National Human Rights Commission (NHRC), Dr. Tony Ojukwu, has called on government at all levels to put adequate measures in place to create a more conducive environment for teachers to thrive.

He noted that this was imperative as the enjoyment of the right to education was hinged on their performance.

Ojukwu, made the call as Nigerian teachers joined their counterparts across the world to commemorate this year’s World Teachers’ Day, yesterday.

Ojukwu, said lack of trained and qualified teachers in public, primary and secondary schools across the nation was becoming worrisome.

He attributed this challenge to teachers leaving their profession to others, in search of better emoluments, thereby paving way for quacks to

operate.

He added: “This day serves as a reminder of the importance of qualified teachers in achieving inclusive and equitable education that is sustainable.”

Ojukwu advised that as, “we celebrate this year’s World Teachers’ Day, we ponder on transforming education as well as reflect on the support teachers need to develop their potentials while advancing the teaching profession.”

He reiterated the need for achieving Goal 4 of the 2030 Agenda for Sustainable Development Goals, which recognises the importance of qualified teachers in achieving inclusive and equitable quality education and lifelong learning opportunities for all.

He used the opportunity of the Day to commend the Taraba State Governor, Mr. Agbu Kefas for making the right to education a reality in the state, as he recently declared free education in Primary and Secondary Schools after slashing to 50 per cent of the tuition fee of Taraba State University and that of the College of Nursing and Midwifery all in Jalingo, the State capital.

Ojukwu also commended Prof Babagana Zulum of Borno State for the payment of WAEC, NECO and NABTEB fees for students in the State, saying this will encourage more students to enrol for the exam thereby advancing the literacy level in the State.

AbdulRazaq, Afolayan Assure Teachers of Improved Welfare

Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, has restated his commitment to the welfare of teachers, and all workers in the state.

AbdulRazaq, also urged them to remain the solid foundation stone from which the edifice of every successful person sprouted and the fountain from where people draw knowledge.

In a statement issued in Ilorin, yesterday, signed by the Governor’s Chief Press Secretary, Mr. Rafiu Ajakaye, to mark annual commemoration of the World Teachers’ Day, the governor congratulated teachers in the state on the celebration. He commended them for their hard work and renewed commitment to the task of raising leaders and serving as the beacons of light since the beginning of time.

L-R: Deputy Governor of Kebbi State, Umar Tafida; Minister of State for FCT, Mariya Bunkure ; Vice President Kashim Shettima and Minister of Education, Tahir Mamman during 2023 World Teachers Day at the Eagles Square in Abuja. ... yesterday GODWIN OMOIGUI

FG Opens Bids for New Phase of $500m World Bank-funded Mass Metering Programme

Verheijen assures govt will end estimated billing

Emmanuel Addeh in Abuja

The federal government yesterday opened the bids for the phase two of the National Mass Metering Programme (NMMP) which is to be funded from a $500 million World Bank loan.

The ceremony which took place in Abuja saw 47 firms, both local and international, submit bids for the procurement of 1.25 million electricity metering devices, one of the biggest single phases ever in the country’s history.

THISDAY learnt that the supply and installation of the smart meters is expected to be completed within 18 months.

In her remarks, the Special Adviser to the President on Energy, Olu Verheijen, noted that the federal government was committed to ending electricity estimated billing throughout the country to reflect cost -reflective tariffs.

“The Federal Government of Nigeria is committed to delivering reliable and cleaner electricity to Nigerian people and businesses. We are embarking on reforms that will improve the performance of

Distribution Companies (Discos) as we continue our trajectory to cost reflective tariffs.

“In the first step to fulfilling our campaign promise to end estimated billing, we are launching phase two of the ambitious national mass metering programme. The phase involves procuring 1.2 million prepaid meters, with the procurement process set to begin this month,” she stated.

The president’s aide explained that the government wants to solve the problem of estimated billing and revenue assurance as well as build trust and public confidence by ensuring people pay for the electricity they consume.

It was further gathered that the government admitted international vendors to participate because of the need to deliver and as efficiently as possible to end the complaints of Nigerians which had been on for decades.

Also speaking, the Project Manager for the World Bank project and an Assistant General Manager, Transmission Company of Nigeria (TCN), Tukur Bamalli, noted that the government expects that with

the new phase, the price of meters will fall substantially.

“We have just closed the submission and opening ceremony for supply and installation of smart meters. We have just received the bids. The president of Nigeria , Bola Tinubu, decided that estimated billing should be abolished and that we should make sure that we supply smart meters to the 11 distribution companies to end the estimated billing.

“We are procuring 1.25 million meters funded by the World Bank to be supplied to the 11 distribution companies. This programme is phase two. We started in February 2021 and it now became effective in February 2023. Very soon the contract will be signed to procure the meters for onward distribution,” he stated.

Bamalli explained that project covers three phases, namely 0, 1 and 2, pointing out that the ceremonial was for phase two of the programme funded by the World Bank.

“The current rate of the meters will be determined after the evaluation. The bids have just been submitted and being opened, so the price will be determined based

on the submission of the bidders.

“We are hoping that the cost of the meters will come down so that the Discos can supply meters to Nigerians at lower prices. The participation is for both Nigerians and foreigners and it is completely internationally competitive bidding both for the local and foreign companies.

“The project is funded under a $500 million World Bank loan comprising $155 million for the procurement and supply of smart meters and $345 million as loan to the distribution companies for the upgrade of the distribution network within the country.

“We (TCN) spent almost two years to prepare that process and we concluded the process together with Nigerian Electricity Regulatory Commission (NERC) and the office of the former vice president.

“However, funding it became an issue because the Central Bank of Nigeria (CBN) could not get the resources to execute the project, which was 4 million meters under phase one. I’m aware that there’s effort to resuscitate that project by the president,” he added.

NDIC Warns Nigerians against Illegal Fund Managers

James Emejo in Abuja

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, yesterday cautioned the public against patronising illegal fund managers, often referred to as wonder banks or Ponzi schemes.

He pointed out that the entities offer high interest rates and profits that are too good to be true, leading to devastating losses for many.

Hassan, reiterated the warning while addressing participants at the NDIC’s Special Day at the ongoing 18th Abuja International Trade Fair.

He said the illegal fund managers were neither licenced by the Central Bank of Nigeria (CBN) nor covered by the NDIC deposit insurance scheme.

Represented by the NDIC Director, Communication and Public Affairs, Mr. Bashir Nuhu, Hassan advised the public to, “patronise only banking institutions with a display of the NDIC stickers

carrying the words, ‘Insured by NDIC’ in their banking halls or entrances and various branches across the country.”

He also restated the corporation’s contributions towards ensuring the stability of the financial system by effectively complimenting the CBN in supervising the banking sector and safeguarding depositors' funds from the adverse effects of bank failures when they occur.

The NDIC boss said Nigerian depositors remained a top priority for the organisation adding that, “our foundation is built on ensuring the safety and security of their deposits. This ideal is encapsulated in our strapline; ‘Protecting your bank deposits'.

“This is crucial for financial inclusion because it gives Nigerians the assurance that their money is safe and accessible when needed. Furthermore, the corporation’s activities through the supervision of banks, continuous monitoring, and oversight serve as consumer

protection for depositors which enhances confidence in the financial system.”

This, he said, acts as an incentive for the unbanked to access the financial services of licensed banks.

He further reiterated the NDIC’s key mandate to provide deposit guarantees to depositors of insured financial institutions, bank supervision, distress resolution, and bank liquidation.

He said over the years, the corporation had grown stronger in fulfilling these responsibilities and has significantly enhanced its public policy objectives of establishing a robust deposit insurance scheme in the country.

Hassan, stressed that following the recent revocation of licences of 179 microfinance banks and four Primary Mortgage Banks by the CBN, the NDIC immediately commenced liquidation of the banks and began disbursing insured sums to depositors within just seven days of the closure of these banks.

He noted that as of September 22, 2023, the corporation had paid a cumulative insured sum of N1.084 billion to 29,573 depositors of the closed MFBs/MPBs. He explained that payments were still ongoing and depositors with funds exceeding the insured limit would receive liquidation dividends after the recovery of debts and sale of physical assets of the closed banks.

According to him, “Currently, the corporation is in the process of verifying and paying liquidation dividends to depositors and stakeholders of 20 closed banks.

“They are Allied Bank, Peak Merchant Bank, Commerce Bank, Continental Merchant Bank, Financial Merchant Bank, Fortune Bank, Gulf Bank, Hallmark Bank, Icon Merchant Bank, Liberty Bank, Nigeria Merchant Bank, NorthSouth Bank, Premier Commercial Bank, Prime Merchant Bank, Progress Bank and Merchant Bank.”

Total number of bids submitted, he said, includes 38 physical and nine online bringing it to 47 bidders for the five slots.

“We have 15 per cent preference for local companies. That means that if a local manufacturers’ bid is higher by 15 per cent than the foreign bidder, the local bidder will be preferred above the foreign bidder.

“The supply and installation of the smart meters is expected to be

concluded in 18 months from the signing of the contract. We expect to sign the contract in the one and a half months. The duration for is for 18 months.

“The target is that by the first quarter of 2025, the meters would have been supplied. We expect the meters to start coming in from June 2024. The 4 million meters under phase 1 was to be funded with N200 billion from the CBN,” he added.

Utica Capital Launches Investment, Insurance Blended Fixed Income Fund

Obinna Chima

Utica Capital Limited yesterday, launched the Utica Custodian Assured Fixed Income Fund (UCAF), an investment and insurance blended fixed income fund.

UCAF is an open-ended fixed income fund that offers investors who have a strong preference for regular income, the opportunity to invest in low to medium risk, fixed income instruments with competitive returns with Life Insurance as value addition.

Utica Capital Limited is an asset management company, licenced by the Securities and Exchange Commission (SEC) under the Investment and Securities Act (ISA) 2007 to provide top-notch investment and fund management services to High Networth Individuals (HNIs), Corporates, mass affluent and retail clients in Nigeria.

Speaking during a media briefing to launch the investment instrument in Lagos, the Managing Director, Utica Capital Limited, Mr. Ola Belgore, said: “UCAF is a product that represents not only our commitment to excellence but also our contribution to the success of the Funds and Portfolio Management Industry in Nigeria.

“UCAF is a perfect blend of returns and protection. UCAF as an investment and insurance blended collective investment scheme embodies the very essence of our mission: to become one of the most sought-after brands in Asset, Portfolio and Funds Management industry in Nigeria and Africa within the first 10 years of existence.”

A minimum amount of N100,000 is required for the initial subscription

and N10,000 for additional subscription. In addition to providing regular income to investors who have a strong preference for regular income, the fund would provide life insurance cover (death and permanent disability by accident) up to a maximum limit of 10 times of the Unit holders principal investment in the fund not exceeding N35million.

According to Belgore, some of the key features that make UCAF attractive include easy and flexible entry and exit from the fund, blend of investment and insurance – UCAF provides life assurance benefits for individual subscribers.

“Another key feature is the biannual income distribution – for investors looking for investments that offer steady streams of income, UCAF will avail them the opportunity alongside competitive returns. “There is also the option of reinvestment of coupon for subscribers who want compounded returns on their investment.”

Furthermore, UCAF would invest primarily in low to medium – risk securities including FGN, Corporate and Municipal bonds, certificates of deposits and commercial papers (to a lesser extent) or other highly liquid securities with financial institutions rated by a registered rating agency as specified from time to time by the Commission. Its asset allocation shows 70 to 80 per cent of it would be invested in FGN Bonds; 10 to 20 per cent of it on Corporate/Municipal Bonds; three to five per cent on money market instrument, while one to two per cent would be retained as cash.

COURTESY VISIT TO LAGOS HOUSE, MARINA...

L-R: The Regional Chair, Boston Consulting Group (BCG) Europe, Middle East, South America and Africa (EMESA), Mr. Matthias Tauber; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Managing Director and Partner, System Leader, Africa System, BCG, Ms. Lisa Ivers and Commissioner for Economic Planning and Budget, Mr Mosopefoluwa George during a courtesy visit at the Lagos House, Marina, on Wednesday

WORLD PRESS CONFERENCE ON NES#29...

OPS Commends FG on Removal of VAT on Diesel

Tasks govt on improved business environment

Dike Onwuamaeze

Operators in the organised private sector have commended the federal government for removing 7.5 per cent Value Added Tax (VAT) on the price of diesel, and told the federal government to evolve a holistic plan that would address operational difficulties hindering the competitiveness of the OPS.

These views were shared by the Director General of Nigeria Employers’ Consultative Association (NECA), Mr. Adewale-Smatt Oyerinde and the Director General of Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona.

Oyerinde described the removal of the VAT on diesel as a commendable palliative for all Nigerians, but added

WTO Lowers 2023 Trade Growth Forecast to 0.8% Amid Global Manufacturing Slowdown

Obinna Chima

The World Trade Organisation (WTO) has lowered the projections for growth in global merchandise trade to 0.8 per cent in 2023, lower than the 1.7 per cent increase it had predicted in April this year, amid a continued slump that began in the fourth quarter of 2022.

However, the 3.3 per cent growth projected for 2024 remains nearly unchanged from the previous estimate.

This was disclosed in the latest WTO trade forecast released yesterday.

The WTO furthermore expects real world Gross Domestic Product (GDP) to grow by 2.6 per cent at market exchange rates in 2023 and by 2.5 per cent in 2024, as set out in the WTO's “Global Trade Outlook and Statistics — Update: October 2023.”

The report pointed out that world trade and output slowed abruptly in the fourth quarter of 2022, as the effects of persistent inflation and tighter monetary policy were felt in the United States, the European Union and elsewhere, and as strained property markets in China prevented a stronger post COVID-19 recovery from taking root.

“Together with the consequences of the war in Ukraine, these developments have cast a shadow over the outlook for trade. The trade slowdown appears to be broad-based, involving a large number of countries and a wide array of goods.

“Trade growth should pick up next year accompanied by slow but stable GDP growth. Sectors that are more sensitive to business cycles should stabilise and rebound as inflation moderates and interest rates start to come down.

“However, signs are starting to emerge of supply chain fragmentation, which could threaten the relatively positive outlook for 2024. For example, the share of intermediate goods in world trade, an indicator of global supply chain activity, fell to 48.5 per cent in the first

half of 2023, compared to an average of 51 per cent over the previous three years. Furthermore, the share of Asian bilateral partners in US trade in parts and accessories — a key subset of intermediate inputs — fell to 38 per cent in the first half of 2023, down from 43 per cent in the same period of 2022,” the report stated.

It quoted WTO’s Director-General, Dr. Ngozi Okonjo-Iweala to have said: “The projected slowdown in trade for 2023 is cause for concern, because of the adverse implications for the living standards of people around the world.

“Global economic fragmentation would only make these challenges worse, which is why WTO members must seize the opportunity to strengthen the global trading framework by avoiding protectionism and fostering a more resilient and inclusive global economy.

“The global economy, and in particular poor countries, will struggle to recover without a stable, open, predictable, rules-based and fair multilateral trading system.”

For his part, WTO Chief Economist Ralph Ossa said: “We do see some signs in the data of trade fragmentation linked to geopolitical tensions. Fortunately, broader deglobalisation is not here yet. “The data suggest that goods continue to be produced through complex supply chains, but that the extent of these chains may have plateaued, at least in the short run. Positive export and import volume growth should resume in 2024, but we must remain vigilant.”

However, world commercial services trade was not covered by the forecast. Preliminary data showed that growth in the sector may be moderating following last year's strong rebounds in transport and travel.

“World commercial services trade was up nine per cent year-on-year in the first quarter of 2023 compared to a 19 per cent year-on-year rise in the second quarter of 2022,” it added.

that it did not feature in the three topmost priorities of the organised businesses.

He said: “In the context of the priorities we want government to address, the removal of VAT of 7.5 per cent on diesel would not have been our first priority. It may not even rank among the first, second or third priorities that we will want government to address.

“I said that whatever palliative the government gives will be neutralised if the government will not address enterprise sustainability. This is why we said that it must address the income side and the production side concurrently so that one does not neutralise the other.”

“We have the issue of multiple taxations, which is being addressed addressed.

“The President in his August broadcast said that N75 billion

will be given to manufacturers and some billions for the MSMEs. Our priorities include definitive timelines on when these funds be released? A third priority for us is how to address the issues surrounding availability of foreign exchange, which is becoming a big challenge in buying inputs. It is progressively making a mess of our projections. You cannot plan when the issue of foreign exchange continues to escalate.”

In its reaction to the removal of VAT on diesel, the LCCI commended the federal government in a statement.

But, it noted that the chamber was deeply worried about the high operating costs businesses and households face due to high inflation, high interest rates, and weakening local currency.

Almona said, “the LCCI wishes to

commend the federal government’s decision to suspend the VAT on diesel temporarily. We were particularly concerned about the additional cost of 7.5 per cent diesel tax on business operations and its transmission to final consumers.

“The suspension of VAT temporarily on diesel in response to the current economic challenges is laudable. This is comparable to recent VAT rate adjustments across European countries where lower VAT rates on gas, electricity and basic supplies were implemented by EU-member states in response to economic challenges.

“For example, in Germany, to ease the burden of inflation, the VAT rate was reduced on natural gas from 19 per cent to 7.0 per cent until March 2024. Also, Belgium cut down energy costs permanently by 6.0 per cent, while

the Netherlands reduced VAT on natural gas, electricity, and district heating from 21 per cent to 9.0 per cent. In Ireland, VAT on gas and electricity is reduced to 9.0 per cent for six months.”

She said inasmuch as the, “chamber supports the temporary VAT holdup, it is, however, deeply worried about the high operating costs businesses and households face due to high inflation, high interest rates, and weakening local tender. Policy remedies like this are important to jump-start/revive the economy, particularly the MSMEs, services, and manufacturing sectors.

“The chamber suggests that to relieve businesses and consumers during this period of debilitating inflation, the government should extend reductions in VAT rates to other energy, fuel, and gas prices as well as staple food items.”

Irukera: Patients’ Bill of Rights Will Unravel Cause of Greatness Olorunfemi's Death

James Emejo in Abuja

The Executive Vice-Chairman/Chief Executive, Federal Competition and Consumer Protection Commission, (FCCPC), Mr. Babatunde Irukera, has said the commission’s Patients' Bill of Rights (PBOR) would be one of the major considerations to determine any wrong-doing in the investigation of the death of Greatness Olorunfemi, a victim of the notorious ‘one-chance’ operators in the Federal Capital Territory (FCT).

Irukera, a member of the nine-member independent panel inaugurated by the Minister of FCT,

Mr. Nyesome Wike, to investigate the fatal occurrence, said the PBOR would also strengthen the value chain to prevent an avoidable fatality.

Former Vice-President Yemi Osinbajo, had in July 2018 launched the bill, which was meant to articulate the rights of patients in the healthcare sector.

The bill was aimed at effectively addressing the issue of consumer abuse in the healthcare sector, highlights the responsibilities of patients and eliminates prevailing ambiguities regarding the legitimate expectations patients should have when receiving care from providers.

Also, as a standard-setting effort,

the bill represents a transparent benchmark that empowers consumers to recognise, demand, and insist that their rights be respected, while guiding providers about the scope and extent of their obligations to patients.

Speaking at a forum, Irukera said, "The Patients' Bill of Rights is really just an aggregation of rights that patients have. Different instruments whether ethical codes, legislation, global practices, and responsibilities by law.

“So, it will certainly be one of the considerations that I expect the panel would look at in determining what went wrong if anything went

wrong.”

He said, "Beyond looking at what went wrong, more importantly, how to strengthen the value chain so that where preventable, we will not experience avoidable fatalities and even when a fatality is not preventable, if there is anything that can strengthen the process to dignify people, I am sure those will be the considerations.”

Under the bill, patients could demand rights to relevant information in a language and manner they understand, right to timely access to detailed and accurate medical records and available services, right to

Procurement Process for Road Construction Projects

Umahi Tasks ICRC on Faster

Constitutes committee for supervision of Benin-Warri highway, others

Emmanuel Addeh in Abuja

The Minister of Works, David Umahi, has requested a more seamless procurement process from the Infrastructure Concession Regulatory Commission (ICRC), describing the current procedure as cumbersome, time-consuming and capable of delaying planned projects.

Speaking during a meeting with officials of the ICRC in Abuja, the minister reiterated the ministry’s commitment to continued improvement on road infrastructure

across the nation, but said that the process must be fast-tracked.

The ICRC plays a critical part in the financing and building of roads under Public Private Partnership (PPP) arrangements.

The minister said he was committed to continuing to improve on the nation’s road infrastructure and will like to work with ICRC to achieve the mission.

He noted that PPP arrangement was a welcome development in road infrastructure provision but said the processes to achieving this desired goal can be worked on to

make the procurement processes faster.

“We need to work together to ensure that government’s interests are represented and effected correctly in every PPP transaction. That is why the Ministry of Works and ICRC must work together,” a statement from the ministry quoted him as saying.

In his remarks, the Permanent Secretary, Mr. Mahmuda Mamman, noted that the ministry requires fast delivery on the programmes to enable it meet its mandate.

Responding to the minister’s

request, the Director General of ICRC, Michael Ohiani, pledged that the organisation will do all it can to make sure that the processes are fast-tracked to achieve the desired aim.

Meanwhile, the minister has constituted a committee for each of the three sections of the reconstruction of Benin-Warri dual carriage way and the ‘dualisation’ of the East-West Road, section II: Port Harcourt (Eleme Junction) to One Port Junction in Rivers state for effective monitoring and supervision of the projects.

L-R: Chief Executive Officer, Designate, Nigerian Economic Summit Group (NESG), Dr Tayo Aduloju; Private Sector co-Chair, Joint Planning Committee 29th Nigerian Economic Summit (NES#29), Ms Ijeoma Taylaur; Chairman NESG, Mr Niyi Yusuf; Minister for Budget and Economic Planning, Sen. Abubakar Atiku Bagudu; Permanent Secretary, Ministry of Budget and Economic Planning, Mr Nebeolisa Olisa; Vice Chairman, NESG, Mrs Amina Maina and outgoing CEO NESG, Mr Laoye Jaiyeola at the World Press Conference for NES#29 in Abuja ... yesterday

UNVEILING UTICA CUSTODIAN ASSURED FIXED INCOME FUND...

DMO, Investors, Others Unveil N150bn Sukuk, Applaud Transformative Value

Issuance to end October 13

Ndubuisi Francis in Abuja

The Debt Management Office (DMO), investors, transaction partners and other stakeholders yesterday, unveiled the N150 billion 2023 Ijarah Sukuk, a 10-year-tenored sovereign instrument which was designed to narrow the gap road infrastructure. Sukuk is a non-interest, asset-backed instrument, based

on the principles of Islamic finance, and was introduced in the road infrastructure funding mix in Nigeria in 2017.

Speaking at the Series VI Investor meeting on the N150 billion debt instrument, the DMO Director General, Ms. Patience Oniha, highlighted several measures taken by the last administration to boost road infrastructure, adding that despite such steps, the

expectations of Nigerians were not met because of the existing gap.

The meeting was attended by investors, various industry regulators and other stakeholders According to her, solid economic growth cannot be guaranteed under an environment with poor infrastructure, stressing that many businesses that relocated

to neighbouring countries like Ghana did so because of poor infrastructure. She noted that it was in a bid to stem the tide that the Sukuk funding initiative was introduced in 2017, to help fund road infastructure, stressing that infrastructure has a humongous multiplier effect on an economy and generates sufficient amount of employment.

Alleged N4.8bn Fraud: Again, Absence of Bizman, Cletus Ibeto Stalls Trial

Wale Igbintade

The scheduled arraignment of businessman, Chief Cletus Ibeto alongside his company, Ibeto Energy Development Company before the Lagos State High Court, Ikeja was, again stalled yesterday, due to the absence of the defendants in court Ibeto, and his company were slammed with a 10-count charge bordering on allegations of obtaining by false pretence, fraudulent conversion of property, criminal breach of trust, forgery and deception by the Economic and Financial Crimes Commission (EFCC).

Apart from the duo, also included in the charges was another company linked to Ibeto, Odoh Holdings Ltd.

The charges against the defendants are currently pending before Justice Ismail Ijelu.

The court had at the last sitting adjourned to October 5, for the arraignment due to the defendants' absence.

At the resumed hearing on October 5, 2023, the defendants' counsel, Dr. Onyechi Ikpeazu, informed the court that ill health of Ibeto was the reason for his absence and pleaded for another adjournment of the matter.

The prosecutor, Rotimi Jacob, reacting to the absence of the defendants in court, reminded the judge that the case was adjourned at the last proceeding due to the absence of defendants.

He, however, reluctantly acquiesced to the defence counsel’s plea for adjournment to enable Ibeto be present in court.

Ibeto's counsel informed the court that the defendants had already approached the prosecution for out of court settlement and that the process was ongoing.

After listening to the parties, the trial judge, Justice Ijebu frowned on the approach of the defendants noting that the court couldn't assume jurisdiction on the case until the defendants submitted themselves for trial by appearing to take plea.

The judge reminded the defence counsel of Ibeto that the court had earlier adjourned the case thrice now at the instances of defendants, adding that if the defendants wanted to explore out of court settlement, they must first submit themselves for trial.

The court, however, further adjourned the case till November 3, for definite arraignment of Chief Cletus Ibeto and his companies.

Some of the charges against

Ibeto and his companies state that the defendants obtained N2.5 billion from their victim as consideration for a nonexistent 14.1 hectares of land while count three claimed that they forged certain land title documents.

Also, included was count three, where it was alleged that the defendants on or about January 30, 2018, allegedly with intent to defraud forged a Deed of Sublease between Odoh Holdings Ltd

and Ibeto Development Ltd purportedly, registered as No 47, Page 47, Vol. 280 of the Lands Registry, Rivers State, wherein they claimed that Ibeto Energy Development Ltd and Odoh Holdings Ltd acquired leasehold interest in respect of 22.6536

The offences were contrary to Section 1 of the Advance Fee Fraud Act 2006, Section 365(3d) and (e), and Section 366 of the Criminal Law of Lagos State, 2015.

As a great enabler, Oniha observed that the federal government decided to continue with the Sukuk financing mechanism because of the transformative impact it had brought to the nation's road infrastructure space.

She cited three flagship road/bridge projects with the imprimatur of Sukuk in the financing arrangement as Lagos-Ibadan Expressway, Second Niger Bridge and the Abuja-Kaduna-Kano Road.

Noting that the footprints of the Sukuk road financing arrangement were visible across the six-geopolitical zones of the country in terms of quality and certainty of completion, Oniha urged investors to avail themselves of investing in the N150 billion.

She assured that Sukuk was not only a sovereign but a liquid instrumented, and fully guaranteed by the Federal Government of Nigeria (FGN).

The DMO had on Tuesday, announced the offering of N150 billion Ijarah Sukuk bonds for subscriptions.

The ten-year bonds are offered at 15.75 per cent rental

per annum and will be due in October 2033.

The bonds offered at N1,000 per unit subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter, would close on October 13, 2023.

According to the DMO, the issuance was under the local loans (Registered Stock and Securities) Act, CAP. L17, on the authority of the Federal Government of Nigeria FGN road FGN Road Sukuk Company (FGN RSC 1).

Greenwich Merchant Bank Limited, Stanbic IBTC Capital Limited, and Vetiva Capital Management Limited were authorised to receive applications for the N150 billion10-year Ijarah Sukuk due October 2023 at a rental rate 15.75 per cent per annum.

The Transaction Adviser to the issuance is Buraq Capital Limited. At the end of subscriptions for the N150 billion Sukuk, the total Sukuk financing pool would have rallied to N892.56 billion.

Between 2017 and 2022, Sukuk issuance had provided N742.56 billion to finance road projects nationwide

Nigeria-Germany Trade Volume Hits €3bn

Michael Olu gbode in Abuja

The volume of trade between Nigeria and Germany hit €3 billion in 2022, the German Ambassador to Nigeria, Annett Günther, disclosed yesterday.

Speaking during a parley with the media in Abuja, the envoy revealed that Germany's main export to Nigeria were machines (28%), food products (20%) and chemical products (19%), while Nigeria's main exports to Germany were crude oil (83%), food products (12%), other raw materials (4%).

The envoy also revealed that no fewer than 90 German companies presently operates in the country with over 17,000

jobs directly created and minimum 10-fold indirectly.

She noted that all the European Union countries put together generated around 160,000 jobs in Nigeria, adding that Germany has invested over €600 million in development projects across all sectors of Nigeria’s economy, making it the second biggest donor.

She explained that this was beside the €620 million pledged to Economic Community of West African States (ECOWAS). She revealed that in terms of humanitarian assistance, Germany remains the second biggest trading partner of

Nigerians with €50 million in 2022 on activities such as protection, food security, health and shelter that save lives every day.

She also expressed willingness of Germany to increase the trade volume with Nigeria.

She added: “The occasion is a positive one: The new Nigerian Government under the leadership of Bola Tinubu has embarked on a difficult but worthwhile journey.

“He wants to reshape and modernise the economy and secure the lives, liberty and property of the people. He announced bold reforms which would be necessary to place the

nation on the path of prosperity and growth.

“I will not cite everything he said in his inaugural speech and most recently in his speech on the occasion of the 63rd Independence Day.

“We are convinced that this is a good time to deepen and intensify the close and cordial relations between Germany and Nigeria that have existed since Nigeria’s Independence, and to look for ways to further strengthen our partnership.”

The envoy also disclosed that 2000 Nigerians passed the German language examinations at the Goethe Institute in 2022, while about 4,000 Nigerians Students in Germany.

L-R: Portfolio Manager, Utica Capital Limited, Aderonke Osho; Chairman of the Board, Dr. Adesegun Akin-Olugbade, and Managing Director, Ola Belgore, during a media briefing on the launch of Utica Custodian Assured Fixed Income Fund (UCAF), held in Lagos... yesterday

POLITICS

Politics and Drive to Maximise Nation’s Revenue

Low revenue generation has become the mantra of successive federal administrations. Despite unending promises by the last government to change the narrative, the story has remained the same. In seeking to make a difference, Ndubuisi Francis, urges the current administration to thread with caution to avoid the pitfalls of the Muhammadu Buhari years.

Barely a year ago, former President Muhammadu Buhari approved the process of restructuring the Ministry of Finance Incorporated (MOFI), the federal government’s investment vehicle, as part of overall measures to boost government revenue.

Before then, his government had tinkered with various revenue generation measures, each of which were dressed in the garb of gamechangers. Whether they lived up to their billing is better determined by the current lamentations over paucity of funds to run the country.

The first major revenue drive under the Buhari administration was the Voluntary Assets and Declaration Scheme (VAIDS) which was launched on June 29, 2017 at a well-attended event at the State House Conference Centre of the Presidential Villa, Abuja.

VAIDS was a tax amnesty programme, which sought to boost the country’s very low tax base and shore up revenues.

As a programme, it was designed to provide tax defaulters an opportunity to voluntarily regularise and truthfully declare previously untaxed assets and incomes and in turn enjoy amnesty from the government.

With a targeted additional four million new taxpayers into the tax net, the idea behind the tax amnesty programme was basically to encourage tax defaulters to voluntarily come forward and pay tax arrears without being punished.

The Buhari government had targeted proceeds from VAIDS to hit $1 billion, but after one year of implementation and a couple of extensions, only about N30 billion was harvested from the programme.

It is instructive that VAIDS was the brainchild of Kemi Adeosun and Babatunde Fowler, the pioneer Minister of Finance, Budget and National Planning, and Chairman of the Federal Inland Revenue Service (FIRS), respectively, under the Buhari administration.

When Adeosun resigned due to the National Youth Service Corps (NYSC) certificate forgery scandal, her successor and last Minister of Finance, Mrs. Zainab Ahmed, came up with her own revenue generating measures and policies.

The flagship programme under Ahmed to rev up revenue was the Strategic Revenue Growth Initiative (SRGI), with four main objectives, including raising revenue-to-GDP ratio to 15 per cent by 2025; expanding the tax base; countering tax evasion and encouraging the payment of taxes by citizens.

The entire objective was to bolster the nation’s revenue base. But despite the measures and programmes of the Buhari administration, the gulf between expenditure and revenue widened, budget deficit hit the rooftops and the government went on a borrowing binge.

In a bid to redress the situation, some desperate measures also came into the mix in government’s revenue drive. Accusing fingers were pointed (and rightly so) at revenue generating agencies, many of which indulged in brazen and unwholesome practices, including remitting abysmally low revenues to the public till despite clear-cut regulations as enshrined in the Fiscal Responsibility Act, 2007 on ‘Operating Surpluses.’

While public debt continued to pile up and revenue generation took a journey south, one of the last options that the Buhari government seemed to have resorted to was to take a look at dead or seemingly redundant assets.

MOFI in the Mix

The Ministry of Finance Incorporated (MOFI) was established in 1959 as a federal government investment vehicle, to take charge of all investments made by the Federal Government of Nigeria.

It manages a significant portfolio of federal government’s investments, spanning a wide variety of asset classes, including corporate assets, financial assets, fixed assets, mineral and intangible assets, and cash-flow-generating transactions.

The immediate past Minister of Finance,

Budget and National Planning, Mrs. Zainab Ahmed, had last October disclosed that MOFI would be restructured as part of overall measures to revive non-performing assets and boost

government revenue.

Few months later, precisely on January 20, 2023, then President Buhari approved the appointments of the members of the board

and their inauguration to kickstart what he described as MOFI’s crucial mandate, including the mobilisation of capital and investing same in assets that are critical to the federal government’s revenue drive.

He challenged the officials to create policies that will push up the MOFI’s current value from N18 trillion to possibly N100 trillion by 2023.

Interestingly, the Governing Council of MOFI is chaired by the President, with the Minister of Finance as vice chair.

Members include the Ministers of Petroleum Resources; Aviation; Industry, Trade and Investment; Transportation; Central Bank Governor, and three experts appointed by the president--Prof. Muhammad Sagagi, Dr. Ayo Teriba and Prof. Ken Ife.

The Board members also included a former finance minister, Shamsudeen Usman (Chairman), Permanent Secretaries of the Ministries of Finance and Petroleum Resources, Accountant-General of the Federation, Mr Olawale Edun, Fatima Mede, Ike Chioke, Muhammad Nda, Alheri Nyako and an executive from the CBN.

Members of the Executive Management Team are Dr. Armstrong Takang (MD), Eric solo (ED, Chief Portfolio Officer), Sani Yakubu (Chief Investment Officer), Oluwakemi Owonubi (Chief Risk Officer).

While it is absolutely welcome for the government to repackage MOFI and breathe life into such a vital organ which holds federal government assets in trust for all Nigerians, in doing so, the government must thread carefully in order not to create a conundrum.

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First Timer Senators’ Legislative Prowess in Red Chamber

Olubunmi Omoogun writes about six first timer Senators making the Red Chamber tick since its inauguration on June 13, 2023.

The public cynicism about politics and politicians has increased over the years due to bad leadership and bad government policies in the midst of rising global headwinds. Some professionals in politics, however, are hoping to repay the confidence that people reposed in them as well as earn the trust and respect of their constituencies as the 10th National Assembly members return from their annual recess.

A look at six first timer Senators of the 10th National Assembly who want to change the narrative that federal parliamentarians are all motivated purely by self-interest.

Senator Adeniyi Adegbonmire

He exhumes knowledge, compassion with a textbook of humility and dignity all wrapped in simplicity. He is not the usual Nigerian politician.

Adegbonmire, a straightforward son of former Secretary to Ondo State Government, late Chief Wumi Adegbonmire who identified with Chief Obafemi Awolowo’s political ideology, comes from an exceedingly respected political family.

A patriot and man of indefatigable character. He is also a charismatic figure with great appeal. This was evident in the way he contributed positively to the successful Senate ministerial screening of the Ondo minister in the President Bola Ahmed Tinubu’s government, Hon. Olubunmi Tunji-Ojo, who is currently making huge impacts in the ministry of interior.

In his bid to advance diplomatic drive for investment attraction for the country, strengthen diplomatic ties and deepen the partnership with South Korea, Senator Adegbonmire facilitated a high level meeting between the Senate led by the President of the Senate, Senator Godswill Akpabio and the South Korean delegation from the World Expo 2030, BUSAN.

South Korea is a major east-Asian economy, recognized for its thriving industrial sector

and electronics exports. Its rapid economic development (one of the fastest rates seen over the past decades).

Nigeria can also leverage on this to explore other opportunities that will benefit the greater number of the people to solve the nation’s economic issues.

There is no doubt that Senator Adegbonmire’s zeal, burning desire and enthusiasm to work for the people has always reflected in his leadership style and legislative inputs so far.

He has the candour to bring the dividends of good governance such as creating opportunities in ICT, education, empowerment of small and medium scale entrepreneurs and provide access to health care facilities and services to the good people of Ondo Central Senatorial District of Ondo State.

Senator Yemi Adaramodu

Senator Adaramodu representing Ekiti South Senatorial District is the Chairman, Senate Committee on Media and Public Affairs of the 10th Senate. He may be new in the Senate but not new to the National Assembly. His people deemed it fit to reward him with a seat in the Senate after his excellent and overwhelming performance in the House of Representatives.

Armed with his vast experience as a former

House of Representatives member who defeated the Senate minority leader in the 9th Senate, Senator Abiodun Olujimi, Senator Adaramodu has already made an excellent impression and impact not only among his colleagues but also within the general public. He is well-regarded and well-known within the National Assembly as a Senate spokesman who is accessible, open and honest as well as fancies constructive dialogue, robust engagement with journalists, the public and stakeholders who want to be acquainted with necessary information about the Senate.

Senator Adaramodu has been applauded for his active efforts in availing the public with the true picture of activities in the National Assembly, ensuring transparency and promoting policies that will benefit the people. He is also the Chairman, Senate Committee on Youths and Sports.

Senator Jide Ipinsagba

The Chairman, Senate Committee on Downstream Petroleum, Senator Olajide Ipinsagba is a technocrat who is representing Ondo North Senatorial District.

On Wednesday 9th August, 2023, the Senator, in fulfilment of his quest to attract a federal university to his constituency, came up with the Bill titled ‘Federal University of Information and Communication Technology, Ikare Akoko (Establishment) Bill (SB. 85). The Bill was read the first time on the floor of the red chamber. He is poised to render services and value in the 10th Senate and further transform the communities by executing sustainable projects across the areas that make up the Senatorial District.

-Omoogun writes from Abuja.

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JOSHUA J. OMOJUWA argues the need to crack down on crimes

GREATNESS OLORUNFEMI: WHEN LAWS AREN’T ENOUGH

Greatness Olorunfemi came from humble beginnings. From the stories she told about herself, she had it pretty tough. That was further compounded by a marriage that turned out to make things worse for her. In the end, Greatness came through all of that to build a thriving professional life as a Human Resource consultant, author and speaker. Greatness sought to touch lives and she did. For work, she shuttled between Lagos and Abuja. She had a positive outlook to life and never allowed for anything to hold her back.

If she did not defy the numerous challenges she met on the way to finding her feet, she

taxis and buses in the city. This should also apply to every part of the country really. Transportation is an essential service, there should be sanity and order in its operations. Citizens on their part should be careful when selecting taxis or buses for their transportation. Whilst they may cost a little more, taxis and buses parked in regulated parks are safer than those picked on the ‘along’ the road. In situations where one has to go with vehicles already out on the road, it is always better to play safe. When it comes to your safety, better to be deemed paranoid than to end up a victim.

In the Greatness Olorunfemi story, the ultimate tragedy is the role allegedly played by Maitama General Hospital. According to most of the reports seen in the news and on social media, Greatness was rushed to the Maitama General Hospital after the robbery. She was reportedly unconscious by the time she was brought to the hospital. It was shocking to read that the hospital allegedly rejected her, insisting — according to reports — on a police report.

There is sense in integrative bargaining, argues DAYO SOBOWALE

PALLIATIVES, POLITICS AND DISSENT

It is most intriguing that the word ‘ palliative ‘ which in its simple meaning should convey most maligned word globally , after COVID , and most especially in Nigeria given the onof the hurried removal of fuel subsidy at the beginning of a newly elected government. I take issue with this attitude today and align it with the right of dissent in any democracy as well as the need for compromise and dialogue in resolving nagging political and socioeconomic issues, in the global quest for making democracy work well and making it serve the collective good of all of us especially the do.

palliatives in Nigeria on a political divide of support by those on government side in pursuing the urgent release and relief of palliatives ; and those in the opposition who query vociferously the integrity of the last elections and have no sympathy or desired removal of fuel subsidy , that hitherto

probably would have ended up living one long tortuous and empty life. She chose a different path. The story of Greatness is one of what is possible in Nigeria. That in the midst of all our challenges, here, grass to grace stories are not only possible, many people live them. The Greatness story that was turning out to be one long beautiful inspiration one could share to inspire other Nigerians suddenly turned sour on the 28th of September when two tragedies combined to kill her.

Greatness was a victim of ‘one-chance’ robbery in Abuja. She was reportedly thrown out of a vehicle between Maitama-Kubwa express, towards Wuse, Berger. For those who aren’t aware, ‘one-chance’ are fake transporters who operate along primarily express roads. They pick passengers outside parks, then after driving them over a short distance, they rob them of their belongings and then throw them out of the moving vehicle. People have been killed at times. They disguise as commuters and transporters but in actual fact set out to rob unsuspecting passengers of their belongings, often targeting phones, laptops and cash. They even use Point of Sale (PoS) machines to clear the accounts of their victims.

This form of robbery is quite prevalent. I take precautions when picking taxis at the airport. Whilst transport operators that work under unions may be a tad more expensive, they are obviously safer because they work within a community. Everyone knows everyone, so that helps to ensure that people put on their best behaviour when dealing with passengers. Whenever you have a choice, avoid cabs that aren’t operating within this sort of design.

Sadly though, out on our roads with limited travel options, commuters don’t feel like they have the option of walking into a bus or taxi park to pick one. Not to mention, ‘along’, taxis people pick on the way are quite a thing. These ‘one-chance’ robberies are more rampant than they ought to be.

Two immediate responses to this challenge is the need for the FCT authorities to ramp up security and also come hard against unregistered

This is contrary to the law. The National Assembly passed the National Health Bill into law in 2014. Section 20 (i) and (ii) of the National Health Act states that, “a health care provider, health worker or health establishment shall not refuse a person emergency medical treatment for any reason. A person who contravenes this section commits an offence and is liable on conviction to a fine of N100,000.00 or imprisonment for a period not exceeding six months or to both.”

There is the law and then there is the norm. Before the law referenced above, hospitals often insisted on a police report before taking up emergency treatments such as that of Greatness. The fear was on account of a possible misreading or misunderstanding of the Robbery and Firearms (Special Provisions) Act of 1990 which mandates that persons of health facilities that treat a patient suspected of having bullet wounds to immediately report to the police. In essence, even the old law didn’t expect that such victims should not be treated before a police report, but that a report be made to the police where such treatment to take place.

This is a testament to the need for us to not only pass laws but to educate the masses into understanding the essence and spirit of such laws, especially on matters such as this.

The Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC) Mr Babatunde Irukera already stated that the commission has opened an investigation into the actions or inactions of the aforementioned hospital. It is worthy of note that the Federal Capital Territory Administration (FCTA) have also taken the matter up. This tragedy is an opportunity for us to address a number of issues that require urgent attention. We need a crackdown on highway robbers in all their various forms. It is shocking to know that certain areas of our cities are prone to these crimes yet they continue to happen.

Tragedies are a global phenomenon, the difference really is in what you do after such tragedies. This is where Nigeria needs to shine and in the Greatness Olorunfemi story, we have an opportunity to do things right in the future. May her soul rest in peace.

Omojuwa

is chief strategist, Alpha Reach/ author, Digital Wealth Book

has been roundly accepted on all sides to be in the larger public interest, at least on the eve of the last presidential elections. I will compare this with the removal of Kevin Macarthy the Republican Speaker of the US House of Representatives by a powerful minority in his Democratic Party to come to his aid. This is in spite of the glaring fact that he came to the aid of the Democratic Biden government to pass a temporary relief budget package to avert government lock down a few days ago . In

and right of dissent terms, and the need for compromise in solving democratic problems in an integrative, honest and principled manner, as much as that is pragmatically possible.

Certain global events as well as negotiations and end products of such arrest my attention in illustrating the objectives I have set for myself today. They start with the recently concluded negotiations between government and labour in Nigeria that culminated in TUC begin on September 6 and tailored to protest government’s perceived inertia in putting palliatives on the ground fast enough to fuel subsidy removal. There is also the issue of the brisk but disgraceful dismissal of the US Speaker Kevin Macaarthy in historically bizarre fashion founded on the mistrust of his close colleagues in the House while a bemused but vigilant Democratic party watched at the like Pontius Pilate in a clear way of telling the Republicans most callously to stew in their own urine. The dispute in Canada too in which black Speaker in Canada’s Parliament because

the former wrongly poured accolade on an old man with a Nazi past in Canada’s Parliament , will not take much of our time especially as the issue has been satisfactorily resolved with the removal and apology of the erring former Speaker . The aborted strike in Nigeria and the removal of the US Speaker at the instigation of his own party are worthy of an analysis illuminating on the style of government, the political culture , and unique nature separation of powers in the presidential system of government practiced in both democracies. This is made more interesting by the fact that Nigeria has just concluded a presidential election dogged by litigation awaiting adjudication at its highest court , the Supreme Court while the US is on the eve of the 2024 presidential election which is beclouded ominously with unresolved issues from the last presidential election of 2020 . It is therefore my considered view that lessons from collective bargaining and industrial relations are not mutually consequences from either or both may be a boon or a bane in resolving nagging political

A cursory look at the mood of the opposition in Nigeria showed the belief that since the president unilaterally announced that fuel subsidy is gone he must face the probably be consumed by the envisaged political instability ensuing from his brash action. The government party sees things large to show understanding and empathy, and vowed that the president meant well in announcing the fuel subsidy removal from day one. The labour leaders are under pressure to make the president walk his talk and have threatened twice now to stage strikes that would close the economy and bring the government to its knees . Integrative collective bargaining however prevailed and the government climbed down from its high horse of and gave some concession in terms of wage increase, transportation measures and other palliatives that stayed the hand strike . Thus while competing demands on government have largely been met integrative bargaining is ongoing to put a focus on the direction of government action and commitment henceforth . Such that there may be no need for another mass strike threat in the nearest future as labour has vowed to unleash if government does not honour the agreements that made it to

On the other hand the collaborative style that resolved the strike threat in Nigeria was totally absent in the way and manner the US House of representatives removed its Speaker this week. The removed Speaker bent too backwards with his colleagues in the House to get the Speaker’s gavel . In a politically competitive environment polluted by hatred of the two parties for what either stands for, bitterness prevailed and the Speaker got no mercy from either his party or the opposition.

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EDITORIAL

THE NEW MALARIA VACCINES

The new vaccine is a welcome relief

For Nigerians and many people across the world who have for decades looked forward to a medical solution for the malaria scourge, there is now another reason to rejoice. A cheap malaria vaccine that can be produced on a massive scale has been recommended for use by the World Health Organisation (WHO). It is developed by the University of Oxford with agreements in place to manufacture more than 100 million doses a year. It is considered cheaper and faster to produce than the RTS,S vaccine approved 10 years ago. “I used to dream of the day we would now we have two,” said WHO Director General, Tedros Adhanom Ghebreyesus.

Malaria is a mosquitoborne infectious disease. Symptoms typically include fever, fatigue, vomiting and headaches. In severe cases, it can cause yellow skin, seizures, coma, or death, as it is the case in Nigeria. For a preventable disease, the number of people who die annually from Malaria in our country is frightening. Nigeria, according to WHO, accounted for 31 per cent of Global Malaria deaths

“Malaria is transmitted all over Nigeria; 76 per cent of the population live in high transmission areas, while 24 per cent live in low transmission areas,” according to the 2020 World Malaria report. “The transmission season can last all year round in the south and about three months or less in the northern part of the country.”

There have also been several programmes and initiatives to combat the disease. In 2000, the Roll Back Malaria (RBM) slogan was launched with fanfare. But the challenge persists. What makes the situation particularly worrisome is that there

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Letters to the Editor

anti-malaria campaigns which may roll back impressive gains made against the mosquitoborne disease over the past few decades. Yet to the extent that defeating malaria is critical to ending poverty and improving maternal and child with the scourge. “The reality is that malaria be and annual deaths from malaria rose during the pandemic and are still above pre-pandemic new tools are developed,” said Gareth Jenkins, from Malaria No More UK.

Huge resources deployed into curative measures have not succeeded in eradicating the disease that has proved to be the fastest killers of children in the world but most especially in Africa. That therefore explains the excitement about the malaria vaccine which would be targeted at prevention. However, combating Malaria requires multifaceted actions and partnerships involving public and private, international and civil society sectors. The hope is that Nigeria adopts the best possible model and strategy utilisation of the eventual eradication of the scourge.

Fortunately for Nigeria, not only is the current Minister of Health and Social Welfare, Muhammed Ali Pate a globally renowned expert on vaccines, he was until his appointment the chief executive private global health partnership with the goal of increasing access to immunisation in poor countries.

It is therefore our hope that Pate will work with authorities in the 36 states on how to secure and deploy the latest vaccines so that, with time, we can eradicate the malaria scourge in Nigeria.

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

LETTERS

FROM GERMANY WITH LOVE

Germany is a big economy but its size is dependent on the mindset of the people, not petrol or natural resources. Germany is a testament to the fact that Nigeria should not give excuses. Germany lost it all during the Second World War and they were colonized too, the Americans and other nationalities colonized them but for a brief period. Out of the ruins the Germans started their factory again with little resources and they have grown to become a power house. Just about 70 years ago they had nothing. After the war the Germans called on various workers to continue were going to share; that is why today Germany has a symbiotic relationship between workers and employers. The Germans also don’t believe in debt, the world for debt is also the word for sin

in Germany. They have also built a solid politicaltion and in their political system the people comespect the people but their interests. The trust has grown so much that voter turnout rate in Germany is 80%; out of a population of 83 million over 60 million voted in the last election. As you turn 18 in Germany you can vote, in fact the over one million Syrian refugees that came in 2015 can disenfranchise voters by stopping electronic vot-cause, for them, as long as they can get 30 million votes out of a population of 200 million they can win their elections. The human development index in Germany is high, per capital income is also

high, over 30,000 dollars. It is a knowledge-driven economy. The candidates for chancellor had -

bate where they discussed the future of Germany and live on television they all agreed on how they were going to run Germany. Nigerian politicians don’t even attend pre-election debates and they never believe in the issues. Just ask a Nigerian Governor how many jobs he or she is creating in his state, he will say you are rude. In all of these I think we must rethink politics. The people must matter in politics and their votes must count. I hope they learn.

Rufai Oseni, rufaioseni@gmail.com

It is our hope that Pate will work with authorities in the 36 states on how to secure and deploy the latest vaccines so that, with time, we can eradicate the malaria scourge in Nigeria

PMI Report: Manufacturing Sector Failed to Expand Output in September as Inflation Bites Hard on Businesses

Dike Onwuamaeze

The Purchasing Managers’ Index (PMI) report of the Stanbic IBTC Bank Nigeria in September 2023 showed that the manufacturing sector failed to record output expansion and was at the receiving end of inflationary pressure during the month under review.

The Head of Equity Research West Africa at Stanbic IBTC Bank, Mr. Muyiwa Oni, who commented on the report, said: “Three of the four monitored sectors saw output expand, the exception being manufacturing.” The report said headline PMI posted 51.1 in September, up from

50.2 in August but still only just above the 50.0 no-change mark. As such, the index signaled a slight monthly improvement in business conditions.

According to the report, “Output in the Nigerian private sector returned to growth in September, following a slight reduction in August. The pace of expansion was only modest, however, and softer than the series average. Anecdotal evidence indicated that although there had been some signs of an improvement in sales during the month, overall demand remained weak. Activity rose in three of the four monitored sectors, the exception being manufacturing.”

It added: “Overall input costs continued to increase rapidly during September, with the rate of inflation only marginally softer than the previous month’s survey record. Input prices rose sharply across the four broad sectors covered, with inflationary pressures most pronounced in wholesale and retail and manufacturing.”

The PMI also reported increasing impact of inflation on businesses during the period under review. According to the report, strong cost pressures meant that firms operating in the Nigerian private sector remained under pressure in September as input prices increased at one of the sharpest rates on

record, largely due to exchange rate weakness and higher fuel costs.

Oni said: “Sharp rises in prices were a key factor limiting demand in the private sector at the end of the third quarter. Overall input costs rose at a pace that was only marginally weaker than August’s survey record.”

The report added, “the rate of purchase cost inflation remained elevated in September, coming in only slightly softer than that seen in August. More than 56 per cent of respondents signaled a rise in purchase prices, which they mainly linked to exchange rate weakness and higher fuel costs.

“Substantial increases in purchase

costs meant that companies continued to increase their own selling prices at a rapid pace at the end of the third quarter. Although remaining elevated, the pace at which charges increased slowed from August and was the softest since May.”

However, the report said that new business increased for the sixth month running in September as a modest rate when compared to the growth recorded in August.

The report noted that, “customer demand reportedly picked up over the month, but remained fragile as a number of customers were deterred by higher prices. Nigerian companies posted a rise in new

export orders during September, thereby extending the current sequence of growth to three months.

“Moreover, the rate of expansion quickened to the fastest in just over a year-anda-half. The modest pick-up in new business during September meant that companies continued to increase their employment at the end of the third quarter. Staffing levels have now risen in five consecutive months.

“The pace of job creation was slight, but quicker than seen in August. The overall increase in workforce numbers was centred on the agriculture and services sectors.”

Despite Initial Fears, Airlines Optimistic Nigeria Will Benefit from SAATM’s $4.2bn Market

Chinedu Eze

Despite the initial skepticism around the introduction of Single African Air Transport Market (SAATM), it has emerged that Nigerian airlines are now optimistic and are currently looking at ways to take advantage of the $4.2 billion market.

Nigeria is a supplier of home products to most of West and Central Africa countries, including manufactured products and agricultural produce.

Also, Nigerian airlines are the

most active in these regions and at different times Nigerian carriers have operated West and Central African destinations.

Currently many Nigerian traders and other traders from different countries in these sub-regions come to Nigeria to buy goods but most of these traders move their goods by road and by sea.

Managing Director of Flight and Logistics Solutions Limited, Amos Akpan, who has operated cargo plane services to some of these destinations, projects that Nigerian

airlines will be recording high load factor daily if they can make 60 per cent of traders who crisscross these countries to Nigeria by road and could change their mode of transport and travel by air.

Akpan said the major reason the traders that traverse West and Central Africa travel more by road was because of high cost of flight tickets, noting that although some of them can afford it, the unit cost of their goods may not justify air travel.

“So, Nigerian airlines can explore

this market if they can bring down the fares. If more people travel by air the fares will come down. This is the objective of SAATM, which aims to bring down the cost of air travel in Africa, as passenger traffic grows,” Akpan said. Industry experts posit that SAATM has the potential to significantly enhance Nigeria’s aviation sector, boost economic growth, and foster greater regional integration.

At the recent African Aviation conference in Abuja, the Secretary

General of the African Civil Aviation Commission (AFCAC), Adefunke Adeyemi, said SAATM would establish a liberalised intraAfrican aviation market in relation to traffic rights, capacity, frequency, pricing, designation; creating a conducive environment, for the development and provision of safe, reliable and affordable air transport system in Africa.

She also said that SATM would eliminate non-physical barriers that hamper the sustainable development of air transport

services in the continent.

SAATM, she added, would encourage cooperation among African airlines, including commercial and technical cooperation, adding that SAATM would improve the quality of service to the consumers, create one single air transport market in Africa, liberalize civil aviation on the continent and drive economic integration.

The story continues online on www.thisdaylive.com

Quantum Travels Marks 20th Anniversary, Re-launches Ajala.ng

NiMet Alerts on Deteriorating Visibility in Northern States

Chinedu Eze

The Nigerian Meteorological Agency, (NiMet), has alerted the public on the possibility of deterioration in visibility in some northern states as a result of observed dust haze propagated into the country from the source region.

According to a release from the Agency, “Stations in the source region from Chad (Faya-Largeau, Bol-Berim, Mongo, Abeche and Ndjamena) have been reporting horizontal visibility between 800m and 4000m.

“Other sources from Niger that

share border with northern Nigeria (Diffa, Maine-Soroa, Goure, Bila, Maradi, Zinder and Birni-n- Konni) have been reporting dust haze in poor visibility between 1000m and 3000 m since the last 24 hours.”

Explaining further the statement revealed that due to strong winds, the dust in suspension is expected to propagate to some states in the northern part of the country, which will further reduce horizontal visibility.

The release further disclosed that there are prospects of DUST HAZE (in moderate to poor horizontal visibility) over the northern parts of the country,

especially over Katsina, Kano, Nguru, Jigawa Potiskum and Maiduguri in the next 24 hours, the statement reads.

NiMet therefore advised members of the public to take necessary precautions due to dust particles presently in suspension over the atmosphere. Individuals with respiratory ailments are advised to protect themselves as the current weather condition is not good for their health.

NiMet also advised airline operators to avail themselves of weather reports from NiMet for effective planning in their operations.

United to Receive Deliveries of 110 New Aircraft in 2028

United Airlines has announced orders for 110 more aircraft for delivery beginning in 2028, building on the early success of United Next and adding additional flexibility for its long-term fleet.

United ordered 50 Boeing 787-9s for delivery between 2028 and 2031, as well as 60 Airbus A321neos for delivery between 2028 and 2030. The company also secured new options for up to 50 more Boeing 787s and purchase rights for an additional 40 A321neo aircraft at the end of the decade.

“We’re building a bright future at United and this order takes our already successful United Next plan into the next decade and beyond,” said United CEO Scott Kirby.

Chinedu Eze

One of the major travel agencies in Nigeria, Quantum Travels has reintroduced its iconic travel platform, Ajala.ng as it marks 20 years of operations.

Quantum Travels enjoys envious niche of managing business travel and it is Nigeria’s representative of BCD Travel, the third largest travel management company in the world reputed for corporate travel management and represented in over 97 countries.

This gives Quantum Travels a global presence and reach to care for its clients. The company said it has over a decade of knowledge of providing unique services tailored to its clients’ travel budgets, so, the clients are assured of prompt and memorable experience that gives them control over cost.

The company said that it is a leader in the leisure travel and provides Visa application services for clients.

Speaking about its unique travel platform, Ajala. ng, the Assistant General Manager and the Chief Operating Officer of Ajala.ng, Olamide Babayemi, explained during the ceremony to mark the 20 years of Quantum Travels that the re-launch of the platform was to deliver a unique service to its clients.

“This two-decade milestone represents an illustrious journey marked by unparalleled service, boundless exploration, and relentless innovation. Tonight, as we reflect on our remarkable past, we also gather here to embrace the dawn of a new chapter—the relaunch of Ajala.ng, a visionary platform that will redefine the very essence of travel. In a world constantly evolving, the need for travel is growing more than ever. Ajala.ng envisions a future where travel is not just a means to an end but an immersive experience that enriches the traveler’s soul,” she said.

Babayemi assured that as the company re-launched Ajala.ng with renewed vision and targeted milestone, it is poised to give its clients IT-driven services that would be unmatched in the industry.

She said the new platform involves seamlessly blending technology, sustainability, and personalization to provide travelers with journeys that transcend traditional boundaries.

“Our aim with Ajala.ng is to eliminate the friction often associated with travel. We aspire to handle the nitty-gritty, ensuring that our clients are solely immersed in the experiences that inspire and rejuvenate them. From securing the most favorable and affordable travel and accommodation rates, to offering unmatched customer support, visa processing assistance, travel financing through Ajala Pay Easy, and orchestrating destination events, we envision a seamless voyage for our clientele,” Babayemi said.

She further said: “Today, as we reignite the essence of Ajala.ng, we are not merely launching a digital platform; we are ushering the core values of Quantum Travels into the digital realm. Our vision is clear - to excel in creating superior and seamless travel experiences. Our mission is defined - to simplify travel, exceeding our customers’ expectations every step of the way. As we unveil Ajala.ng, we are

not just celebrating the advancement of Quantum Travels, but the embodiment of a promise to our clients, a promise of unparalleled service, unending exploration, and an unwavering commitment to making travel an enriching chapter of their lives.

“With your support and collaboration, we are poised to redefine the way we explore the globe, one quantum leap at a time. Sit back and watch me unfold Ajala.”

Welcoming invited guests at the ceremony held in Lagos to mark the 20 anniversaries of Quantum Travels, the Managing Director of the company, Michael Otubu, said Quantum Travels was spurred by the joint circumstance of the visioners, adding that a few were sanguine that the company would metamorphose into a renowned travel company it has become today as it turned 20 years.

“Today, a dream borne out of a pure attempt at survival and driven by the facts of our joint circumstances, marks its 20 years of existence. very few gave this uncommon union a chance of survival, let alone its propagation. It is a testament to the power of two, walking in agreement, that today’s celebration becomes a reality.

“Who better to share this occasion with than all the family, friends, industry partners, customers and colleagues assembled here today. Some of you have walked with us these last 20 years, or at least most of it while others have partnered with us in the last decade or so. What is incontrovertible is that every step of the way, you have held our hands and challenged us to be a better version of ourselves, partnering with you to give vent to your travel needs and pushing us to dare to continue to dream. To all of you, we declare our undiminished passion to continue to be and do better as we project into the next 20 years. We have seen great metamorphosis of the travel space in the last two decades and weathered some challenges that have threatened the soul of our business and industry, but we still stand strong through it all. As Charles (Obioha, Executive Director) and 1 are wont to say always, plan A always works where no plan B exists,” he said.

Otubu said the 20 years celebration of the company was also to celebrate all those who have contributed in various ways to sustain the company and make it what it has become today.

“So tonight, we celebrate you all and welcome you to the unfolding of our vision for the next 20 years, driven by an active succession plan as we position ourselves for the flexibility that the new world ultimately demands together with our airline partners. Truly, there is power in the united resolve of two. Hope, faith and concerted action will drive the potential of our great country into the era of its fulfillment, in our lifetime,” he added.

In addition to managing travels for guests, the company also plans exciting and fun cruises in partnership with its cruise line partners. Such cruises are personalised to the budget and desire of the clients as well as many more tour packages and tourists’ attractions.

“Our planning and focus on the long term have helped us surge past other airlines that stood still. I’m convinced our strategy is the right one as we continue to add

IATA Secures

new, larger aircraft to take full advantage of our growing flying opportunities both internationally and domestically,” Kirby further said.

United expects to take delivery of about 800 new narrowbody and widebody aircraft between 2023 and the end of 2032.

A key component of the United Next plan is growth in gauge, essentially flying larger planes with more available seats on the same route. Given that United currently operates out of the largest markets in the country – Chicago, Denver, Houston, Los Angeles, Newark/NYC, San Francisco, and Washington, D.C. – up-gauging also boosts overall connectivity domestically and internationally.

In 2019, United averaged 104 seats per North American departure, among the lowest in the industry. By 2027, United expects

that number to jump more than 40 per cent to over 145. United now has 180 A321neo and over 370 737 MAX aircraft on firm order through 2030, a combination that will drive the average seats per departure even higher on these larger aircraft, with even lower anticipated per-seat costs.

United’s latest aircraft order starts at the end of the decade and can be used for fleet growth or replacement, depending on the demand and the economic climate at the time. And from a widebody perspective, the 50 incremental 787-9s that United ordered today will allow the airline to further simplify its international fleet – another benefit to customers and employees as well as an area of cost savings.

United is already the largest carrier across the Atlantic and Pacific.

More Data Contributors for CO2 Connect

The International Air Transport Association (IATA) said it would be adding further airlines and airline groups as data contributors to its CO2 Connect emissions calculator, hence improving the quality and accuracy of the tool. Respective agreements were signed with Aerolineas Argentinas, Air Baltic, LATAM Airlines Group, Luxair and Nile Air during the first World Suitability Symposium held on 3-4 October 2023 in Madrid, Spain.

IATA’s Senior Vice President Commercial Products and Services, Frederic Leger, said: “Accessing the most accurate operational data is key to achieving global consistency and alignment in CO2 emissions calculations. Expanding this data pool is essential in providing greater transparency and coherence to passengers and stakeholders alike. This allows for more informed CO2 compensation choices while supporting ESG reporting. In continuously expanding our data sources, we will further enhance IATA CO2 Connect’s calculation quality, far beyond what any theory-based or model-based tools can achieve.”

Given the complexities and the lack of available data sources needed to accurately calculate CO2 emissions from aircraft, IATA launched CO2 Connect in June 2022, with the objective of using actual airline data, such as fuel burn, belly cargo and load factors in order to provide accurate per passenger CO2 emissions calculations. The CO2 Connect calculator now receives actual operational data from around 150 airlines. Paired with other IATA and open market data sources, IATA CO2 Connect calculates fuel burn data for 74 aircraft types, representing ~98% of the active global passenger fleet, and considers traffic data from 881 aircraft operators representing

~93 per cent of global air travel. This sets it apart from other CO2 calculators which rely on theoretical models and thus apply more assumptions in their calculations. Through its agreements for the distribution of the CO2 data

calculations with companies like ATPCO and Amex GBT, IATA supports airlines in the provision of accurate and consistent passenger CO2 emissions data across sales channels and travel management companies.

QUANTUM staff during the celebration

Is the Passport Collection Problem Over?

The Nigeria Immigration Service (NIS) has always announced that “average passport processing times takes up to three weeks for renewals/reissue and up to six weeks for first time applicants,” but many Nigerians have never had the grace to get their passport done within the stipulated timeline. To get your passport out within the stipulated time, you may need to grease some palms of corrupt immigration officers or perhaps their touts who have ensured that getting a Nigerian passport is one of the most cherished accomplishments of all adult citizen of the country.

It has always been an experience full of sorrows and pains, many Nigerians have had to part with their hard earned money to get the new or renewed passport at record time. Many have lost opportunities of a lifetime for inability to catch up with foreign appointments as they waited endless to get passports issued, many that needed foreign medical attention have been sent to early grave as they kept waiting until death caught up with them.

According to the NIS, the approved fees for passports are: a 32-page five-year standard passport sells for N25,000 or $130 (for overseas applicants), a 64-page five-year standard passport for N35,000 or $150 (for overseas applicants), and a 64-page 10-year standard passport at N70,000 or $230 (for overseas applicants). These fees however exclude bank charges, but hardly do many Nigerians part with just this to have a passport. Even with many efforts made to shield Nigerians from the corrupt immigration officers and touts, they always find a way to get to their pockets by creating bottlenecks. The online application for passport has not stopped these corrupt officials from having their way.

The immigration officers have always manufactured excuses to get patronage from applicants, one of the excuses is there are no booklets. Though the federal government has always blamed applicants for bribing corrupt immigration officials and continue to turn a blind eye to the inefficiency and corruptiondriven process in passport acquisition and administration in the country which has played to the advantage of corrupt officials. To check this, the erstwhile Minister of Interior, Rauf Aregbesola embraced the online application system arguing that it would curb corruption,

extortion and inflation, noting that: “As long as applicants try to cut corners, they defeat our purpose and create avoidable problems,” adding that: “The first problem that arises is unfulfilled expectations. Touts and officials are not in any position to guarantee anything.

“Our system makes room for six weeks for fresh applications and three weeks for renewal. This is to enable the NIS to investigate and verify claims by the applicants. It is advisable for travellers in need of a passport to begin the application process early, factoring our timeline. The six weeks maximum is reasonable and among the shortest application time in the world.”

But even with all these put in

U.S. Ambassador Visits Nigeria to Strengthen Atlantic Cooperation Partnership

In a significant move to bolster the newly formed Atlantic Cooperation Partnership, Ambassador Jessye Lapenn, the Senior Coordinator for Atlantic Cooperation at the Bureau of Oceans and International Environmental and Scientific Affairs, U.S. Department of State, embarked on a visit to Nigeria.

This visit comes on the heels of the partnership launch in New York, where the U.S. Secretary of State joined forces with the Government of Nigeria, represented by the Minister of Blue Economy, along with 31 other nations.

On a courtesy visit to MRS/ Bestaf plant in Lagos and was received by the chairman of MRS Alhaji Sayyu Idris Dantata, Ambassador Lapenn expressed her commitment to fostering Atlantic cooperation, emphasizing that it extends beyond government entities to encompass individuals, companies, and organizations.

Her objective was to gain insights into Nigeria’s ongoing efforts in the realm of Atlantic cooperation and to explore collaborative opportunities.

Lapenn noted her positive impressions of Nigeria’s initiatives, highlighting the palpable enthusiasm and energy surrounding Atlantic cooperation efforts. She eagerly anticipates finding ways to facilitate partnerships and collaborative efforts between the two nations.

In her statement, she said:

“Two weeks ago in New York, the Secretary of the State and the Government of Nigeria represented by the Minister of Blue Economy and 31 other countries lauched a partnership for atlantic cooperation.

My first stop since the launch of the partnership is to come here to Nigeria. Yesterday I was with the government and today I am in Lagos really listening and learrning all that Nigeria is already doing in the space of Atlantic cooperation and all the opportunities that exist. Critical of course the cooperation is not just Government but people, companies and Organisations. So

I’ve been visiting to have a sense of what is really happening and we would like to grow cooperation.”

On his part, Dantata, welcomed Ambassador Lapenn’s visit and commended her for taking the time to witness their operations firsthand.

He emphasised the significance of Ambassador Lapenn’s visit as the second ambassador to engage with MRS/Bestaf Holdings from the outset of their endeavors.

Dantata expressed gratitude for the continuous support and encouragement from the U.S. government, stating, “The fact will speak for itself, and I can tell you that the product you see in the market will be out there for people to use.”

Dantata informed that Bestaf fully integrated residential platform is dedicated to delivering and operating premium multifamily and build-to-rent (BTR) assets in key metropolitan markets across the United States and Europe.

In his words “We employ value-add, data-driven strategies to identify, program, and design residential communities that transcend the ordinary. We are a nimble and entrepreneurial, yet founded in our commitment to cutting edge products and outstanding services. We leverage the scale and collective experience of CA’s vertically integrated platform to offer better execution and stronger returns.

“Bestaf is a group of companies devoted to improving Nigerian lives through advancements in fields like production, technology, real estate, and more. Bestaf is charge of production & manufacturing of various commodities and oil related products. Our primary products are lubricants. We extensively deal in production of packaging and labels, homecare products, and aerosols. Along with that we also have expertise in technology and eye turning real estate construction. Our horizons also set in the arena of terminal management as well as highway construction and many more services that attract more clients to your business.”

place, the corrupt officials still ensure that the system is still not allowed to perform optimally, and the new minister had to up the ante, giving a matching order for the backlog of passport to be cleared. In perhaps his inaugural meeting with the

NIS, Tunji-Ojo said: “As far as I am concerned, the issue of passport is a national emergency. I keep getting emails daily from Nigerians complaining. We cannot continue like that.

“It has become an embarrassment to His Excellency, President Bola Ahmed Tinubu. I represent him here as your minister. That embarrassment is mine now. I am not changing my words. I need the backlog cleared in two weeks.”

During the meeting, the Acting Comptroller General, Adepoju Carol, and Managing Director, Yinka Fisher, assured the Minister that all necessary resources and measures would be deployed to ensure the expedited processing of these pending passport applications.

Adepoju disclosed that though the number of enrolments has spilled into 200,000 across the country, the agency had been able to secure enough booklets to clear the backlog.

It wasn’t the first time the federal government would declare a state of emergency on international passports, the Acting Comptroller General of NIS, Caroline Adepoju during a visit to Lagos last July said the declaration represents a call to action for all stakeholders to prioritize efficiency, transparency, and excellence in service delivery. She explained that the state of emergency was to address challenges faced by Nigerians in obtaining their passports, the Senate had earlier ordered its committee on Interior to find out the rationale behind the delay in the renewal and issuance of passports, following a series of complaints laid by Nigerians in renewing or getting new passports from the service.

The story continues online on www.thisdaylive.com

The problem of passport collection has always been with Nigeria as there are many bottlenecks in the system that has given the country a bad name. Past ministers and comptroller generals of immigration have had to battle with making the process seamless. The current Minister of Interior Olubunmi Tunji-Ojo and Acting Comptroller General of Immigration, Caroline Adepoju have confronted the challenge and cleared passport backlog. However, many are skeptical if the nation has finally buried the ghost of problem in passport processing and collection, Michael Olugbode reports

Adepoju

Managing Director/Chief Executive Officer, Terra Developers, Mr. Kola Ashiru-Balogun; Chief Executive Officer, Assist-2-Sell Properties, Mrs. Chukwunonso Onny-Ezeh; and Chief Executive Officer, FifthGear Plus Consulting, Mr. Niyi Adesanya, at TERRApy 3.0 event held in Lagos…recently

Partners, Udo Udoma and Belo-Osagie Chambers, Yinka Edu and Amina Ibrahim; Managing Partner, Udo Udoma and Belo-Osagie, Aniekan Ukpanah; and Partner, Udo Udoma and Belo-Osagie, Adeola Sunmola, at the ICE Regulators’ Masterclass hosted for Nigerian regulators in Lagos...recently

L-R: Head of Translation Committee, Union of Affairs Islamic Scholars, Prof. Abdul-Razak Alaro; Director, Imaam Daasrus-Sunnah Islamic Centre, Igoba, Akure, Dr. Luqman Sekooni; and Founder, Aonus-Sunnah Islamic Da’awah Academy, Alhaji Ustazh Yussuf Jabratah, during the first annual conference of AonusSunnah Islamic Da’awah Academy, Angwan Gwari in Suleja, Niger State…recently

L-R: Bord Bia’s Regional Director, Middle East, India, and Africa, Kieran Fitzgerald; Founder of RSVP, Nahi Halabi; Ireland’s Minister of Agriculture, Food and Marine, Charlie McConalogue; Bord Bia’s West Africa Regional Manager, Ese Okpomo; Bord Bia Chief Executive Officer, Jim O’Toole; and Founder, Lagos Cocktail Week, Lara Rawa, during the African launch of Spirit of Ireland in Lagos…recently

Zimondi; Managing Partner/Chief Executive Officer, Dr. Ngozi Ogwo; Senior Partner and Head of Audit and Assurance, Mr. Victor Osifo; Partner, Audit and Assurance, Kingsley Opara; Partner, Tax Service, Mr. Ajayi Irivboje; and Partner, Advisory Services, Mr. Lateef Emiola, during the company clients’ event held in Lagos…recently

L-R:

PHOTO: ETOP UKUTT

L-R:

PHOTO: ENOCK REUBEN

Osun State Governor, Senator Ademola Adeleke (left), and the Timi of Edeland, Oba Munirudeen Adesola Lawal, Laminisa I (right), during the 2023 Sango Timi festival held at the Timi’s Palace in Ede, Osun State… recently

Promoting Export Trade from Africa

Chief Executive Officer of Mepon Limited, Dr Emmanuel Okoroafor, recently deviated from his known speciality of Human Capital Management when he founded Mepon Limited, a company that provides online platforms for global equipment and facility monetisation. In this interview, MARY NNAH, sheds light on how he is contributing towards the development of Nigeria and Africa at large and how Mepon can help businesses on the continent optimise the big opportunities inherent in the initiative

Tell us how growing up influenced what you are today.

Growing up in Aba was one of my “belle epoque”, as, during the period, Aba was to most people the centre of commercial activities – bustling and thriving by bringing together technology, manufacturing, and commerce. This provided a platform for teenagers and young adults to dream and fantasise about their future goals and aspirations. The seeds of adventure – going beyond Aba were planted during this period.

What were your childhood fantasies?

After reading some detective and spy novels, watching Hawaii 5-0, and some James Bond movies, I fantasised what life would be like being a spy – globetrotting, handling high-tech equipment and cars, hanging out in posh hotels, and meeting interesting people. Childhood fantasies, eh!

What career path were you looking forward to from childhood? Has it changed?

We were brought up with the mantra, “Education is better than silver and gold”. Therefore, I wanted to achieve academic excellence, and hopefully don an academic gown within a noble centre of learning. I managed to do all that.

I obtained my WASSCE from Sacred Heart College in Aba, a Bachelor of Science degree from the University of Ife, Ile-Ife – a citadel of learning, research and culture par excellence, and the most beautiful university in Africa at the time, won a scholarship and went overseas for postgraduate studies, obtained a Diploma d’Ingenieur from Institute Nationale des Sciences et Techniques Nucleaires, Grenoble, followed by a Doctorate Degree from Universite Denis Diderot, Paris VII, France. Post-doctorate, I stayed on the academic path for 10 years before moving to the industry, where I was more at home with the fast pace of technology and product development. I worked for a blue-chip UK company – BOC-Edwards (now owned by Linde) and 10 years later, I moved out into Oil & Gas to work with Hobark International Limited, an Integrated Energy Services Company with a global energy footprint in different sectors of the Oil and Gas Industry.

What inspired Mepon Equipment?

After being away for a long time, I wanted to contribute towards the development of my country, Nigeria and possibly my continent, Africa. That is the inspiration for what I am doing now and more: Human Capital Management, Equipment Optimisation within Africa, and Promoting and Facilitating Export Trade from Nigeria/Africa.

What is the scope of your operation?

The Mepon Equipment Marketplace is an innovative online platform dedicated to helping asset owners and manufacturers monetize their assets (equipment and facilities) effectively and efficiently.

We offer a suite of services, designed to streamline and simplify the process of monetizing idle equipment and facilities. We undertake equipment and facility inspections, whereby our experienced team conducts thorough inspections to assess the condition and market value of available assets, ensuring accurate representation and optimised pricing.

We leverage our market reach to conduct targeted campaigns to showcase all available assets to a wide pool of potential buyers, ensuring maximum exposure and interest. We also offer logistics support and services by facilitating seamless transportation and delivery and ensuring a hassle-free experience for both vendors and customers. Other things we do include installation and commissioning of new assets.

Mepon Equipment supplies well-trained and qualified personnel and crew needed to operate newly acquired equipment, machinery, or facilities.

Through our dynamic marketplace, we also facilitate direct equipment sales and efficient auction processes to ensure fair and transparent transactions. We do all these and more.

There has been a lot of buzz about the African Continental Free Trade Area (AfCFTA) in the past three years. What are the likely ways AfCFTA will catalyse meaningful gains for Africa?

AfCFTA is akin to economic integration that should allow the free movement of goods, services, capital, and labour among member countries, accompanied by shared policies and regulations.

The removal of trade barriers and lowering of costs for cross-border transactions will prompt everyone to participate and benefit, and so, deliver prosperity across the African continent.

Of course, the obvious benefits are the free movement

of goods, services, and labour because of the free access to markets, the flow of trade will be increased among different member countries, allowing much higher consumer potential for businesses leading to greater economic prosperity and job creation within the continent.

Nigeria’s initial reluctance to sign the agreement was partly out of concern for the country’s entrepreneurs. Now that we have signed the agreement, how is AfCFTA going to benefit indigenous companies in Nigeria?

The initial reluctance from Nigerian businesses and hence, the Federal Government is understandable. Nigeria had inadequate infrastructure to support her domestic companies to compete favourably within the competitive environment AfCFTA will create.

The number of competitors will increase, not only domestically but also from companies in other member countries. This increased competition promotes innovation and efficiency, and it also increases the failure risk of domestic firms trying to survive.

Therefore, understandably, inefficient companies will eventually close which will create more unemployment and reduce business tax revenue. The most vulnerable are companies that usually receive government subsidies or protection. These are the fears, hence the reluctance to sign up.

However, now that Nigeria has signed the agreement, it gives Nigerian businesses free access to the global African market area, where they can freely sell in member countries’ marketplaces without worrying about unfair competition due to trade barriers. A broader market allows them to achieve higher economies of scale, reducing average costs.

Tell us how for instance, your company, Mepon Equipment will take advantage of the AfCFTA.

The Mepon Equipment platform was created with AfCFTA in mind to optimise asset utilisation across Africa. It is an e-market platform where African businesses can source for available underutilised or unused equipment within the AfCFTA before looking to North America, Europe, or Asia.

Africa cannot develop if its businesses and governments continue to waste scarce funds to procure new equipment and/or assets from other continents when there are numerous equipment and facilities lying fallow within the continent.

Therefore, the Mepon Equipment platform was set up to help owners of underutilised/ unused equipment within the AfCFTA, market and monetise their assets. This will allow those who need the equipment to undertake projects, to find and access such available resources.

It is essentially a digital trade to increase efficient

optimisation and distribution of equipment and services, enhancing connectivity between people, businesses, and government, and driving socioeconomic transformation within the African continent.

Being an oil and gas professional, what motivated you to go into the equipment E-Platform Marketplace?

Experience played a great part here. Contracts and projects generally last for about two to five years and usually, new equipment is bought for these projects, and at the end, the equipment is shelved and stored away in yards, exposed to the elements, whilst we hope for a new contract/ project, which oftentimes does not materialise. In the meantime, the equipment wastes away in storage.

When you go around industrial hubs, you will not fail to find yards filled with underutilised, unused equipment, assets, and facilities, that the owners have not been able to find use for or monetise. This sprouted the idea of the e-platform marketplace to facilitate asset monetisation and subsequent utilisation of underutilised and unused equipment and assets.

To what extent has Mepon Equipment achieved its mission?

Since the release of the Mepon Equipment platform, there has been significant interest. Equipment owners have gradually begun uploading their wares onto the platform. NonAfrican businesses have also expressed interest in placing their equipment and assets on the platform. To take advantage of AfCFTA, we remind them that their equipment must be available within the African continent to be accepted on the platform.

The current campaign is to make more businesses within AfCFTA aware of the Mepon Equipment Platform, so they can also take advantage of AfCFTA by registering and uploading their available equipment for monetisation onto the e-marketplace platform.

Which industry stands to benefit from your services?

Upshots from Mepon Equipment will include increased business within the AfCFTA for insurance companies, banks, fintech, equipment service centres, and logistics providers, among others.

Nigeria has entered a new phase of reengineering its economy. What are the key reforms that you think are required to turn the Nigerian economy around?

Business drives the economy, and the new government should among other important things, pay needed attention to the ease of doing business (EoDB) in Nigeria.

In terms of ease of doing business, Nigeria ranked 131st out of 190 countries in 2019. At the country-wide level, the 2023 report shows a marginal increase in Nigeria’s overall EoDB satisfaction score to 5.69 on a 10-point scale from the 5.45 recorded in the inaugural report.

The issues related to access to capital, inadequate infrastructure, such as unreliable power supply, poor transportation systems, limited access to high-speed internet, insecurity, and corruption, and frequent changes in government policies, tax regulations and trade policies. These are just a few of the factors that affect the ease of doing business in Nigeria and negatively impact the economy.

A holistic approach to these issues - not just a new tax regime, a recalibration of the forex market that is not settling down, and the removal of subsidies - may give Nigeria a chance to become a producing and manufacturing economy, which encourages and assures domestic investors and customers, attracts foreign direct investment, and facilitates and sustains export trade. This will improve the overall economy of the country.

On the specific issue of taxes and levies, there are numerous agencies harassing businesses to collect a disparate range of levies. For most of the agencies, it is no longer clear whether they are regulators or cash collectors. Most of them act like criminals and there is no proper accountability structure. These frustrate the business community, who would have preferred a single taxation/levy for the government to distribute and share as she wants for various purposes.

Some of these collections are morally wrong. For example, they collect funds from an oil and gas operator, collect the same from her contractors, collect the same from the subcontractors, collect the same from the subsubcontractors contractors, ad infinitum. It only happens in Nigeria. This is unfair to the business community.

As a seasoned entrepreneur, what are your tips for aspiring and budding entrepreneurs on how to survive the Nigerian business environment and remain competitive?

Look out for things that are needed in Nigeria and within AfCFTA, either as products or service solutions. Go after them with gusto and take advantage of pioneers or early entrants. Then keep innovating and maintain awareness of changes in government policies that may affect your line of business and align accordingly. Maintain focus, and earn a reputation as a business with integrity, transparency, and customer satisfaction - don’t cut corners with your customers.

Look after your staff’s welfare and training needs, and they will look after the business. With growth, look for opportunities to diversify your business.

As a global businessperson, what is your prospect of how Africa’s businesses will compete on the global stage in the decades ahead, given the prevailing economic trends on the continent?

All successful global businesses have a large market share in their home country and continent. Exporting human capital, as we currently do, is not enough to compete on the global stage.

African businesses must aim to start with domestic capital, domestic customers, and domestic distribution. They must also improve on processes to provide quality products and services to capture and ensure a large market share within the home nation and the AfCFTA, or African continent. Excellent and quality products and services will capture significant local market share, attract FDI, find the export market, and hence enable Africa to compete on the global stage.

How will this equipment e-platform impact Africa?

Currently, Africa wastes scarce funds to procure new equipment or assets from other continents when numerous pieces of equipment and facilities are underutilised, unused, and lying fallow within AfCFTA.

Mepon Equipment will help optimise equipment and facility utilisation within AfCFTA, before resorting to buying new ones from North America, Europe, or Asia.

It will enhance connectivity between people, businesses, and governments, and drive socio-economic transformation within the African Continent. Thus, it is a tool that will help drive the buy-in and integration of AfCFTA at both the domestic and intra-Africa national levels.

It is my sincere hope that member countries’ Executive Secretaries of AfCFTA, understand the agenda and what needs to be done to make it a success, which is, to on-board Small and Medium-sized Enterprises (MSMEs) that represent 99% of all businesses in the African Continent, to take advantage of the free trade area to grow their businesses and spread prosperity within the continent. This is what Mepon Equipment is about.

DR. EMMANUEL OKOROAFOR:

Okoroafor

‘I Never Thought I Was Going to Win’, Says BBN All Stars Winner, Ilebaye Odiniya

Stories by Mary Nnah

Winner of the Brother Naija season

8All Stars edition, Ilebaye Precious Odiniya, known as the GenZ baddie, has said that she never envisaged emerging as the winner of the recently concluded Brother Naija All Stars edition.

Expressing her excitement during the BBNaija Winner’s Press Conference and Prize Presentation held on Tuesday at the BBNaija House, Ilupeju, Lagos, where she was given the grand prize of N120 million cheque and a brand new car,the22-year-oldsaid,“I’venever thought I was going to emerge the winner. I didn’t use any strategy to win. I felt I was going to stay in the house for a maximum of two weeks. I didn’t know I was going to win.”

After 70 days in Biggie’s house, the 22-year-old model, outwitted 23 other housemates to clinch the grand prize.

Aside from the cash and car prizes, as the winner of the show 2023 edition, Ilebaye will get a weekend getaway for two by Travel Beta, a brand new car from

LARRY

GAAGA UNVEILED

AS

GAMMA’S VICE PRESIDENT

Stories by Tosin Clegg

Historically, international labels have headquartered their African operations solely in South Africa, with Nigeria often having satellite presence.

While promising to make good use of her N120m prize money, she thankedBigBrotherorganisers,her family, and other sponsors of the show.

“I’m really happy to be your star.And to my housemates, thank you guys so much and I promise to make you guys proud, I promise not to disappoint you guys, and I promise to make sure I make good use of the money. Thank you guys so much. I love you all.”

The keys to a brand new white Innoson G5T car - a white 2023 IVM G5T sports utility vehicle (SUV) - were presented to her on stagealongwiththeN120mcheque courtesy of Moniepoint Nigeria.

Speaking during the prize presentation ceremony, the Executive Head, Content & West AfricaChannels,MultiChoiceWest Africa, Dr Busola Tejumola said the Big BrotherAll-Star has been a Season of love, rekindled and new friendships,settlingscores,comedic moments, fantastic showcase of talentanda battle for dominance.

While congratulating the winner, Tejumola specifically thanked her for her creative gameplay that had delivered this win to her.

Firm ReaffirmsCommitment to Empower Nigeria’s Supply Chain, Logistics Sector

CapsaTechnology,aleadingfintech companythatspecialisesininnovative alternative financing solutions in Nigeria, has reaffirmed its commitment to empowering the country’s supply chain and logistics sector.

In collaboration with Lagos Business School, widely renowned as Africa’s top-ranked business school, Capsa recently hosted the “Supply Chain 4.0: Technology, Factoring, and the Future of Supply Chain”,

executive course from September 22nd to 23rd.

The Supply Chain 4.0 Programme, which took place onsite at Lagos Business School, brought together a diverse group of executives from the pharmaceuticals, healthcare, oil and gas and manufacturing industries.

Speaking during the event, Capsa’s Chief Operating Officer, Chukwuka Nwagbara, said the company is dedicated to enhancing the supply chain ecosystem by

providing an alternative form of financing that is affordable, quick and convenient.

“In just two years of existence, we have empowered businesses with over N13.7 Billion ensuring that these businesses have the required working capital they need to keep their companies going without taking additional loans or raising equity,” Nwagbara said.

Capsa’s CEO, Mustapha Suberu, said the company is on a mission to boost small businesses with

its factoring and reverse factoring solutions, which directly put cash into their hands and help them continue the seamless operations of their businesses.

“Our recent partnership with LBS emphasised that the days of waiting are indeed behind us. Technology is revolutionising the supply chain sector and unlocking the critical cash flow that drives growth, especially in the face of currency fluctuations and other challenges.”

WWGT Enhances Networking in the Events Industry

The Chief Executive Officer of BusyBee Events, Bisi Sotunde has said that Well Watered Garden Tribe (WWGT) was created to enhance connections within the events industry and allied industries connecting event industry professionals, such as event planners, decorators, caterers, and others, allowing them to learn from one another and stay updated on industry trends. Sotunde who made this known to the media in an exclusive inter-

view recently in Lagos disclosed that WWGT is a community for event professionals who are intentional about networking, collaborating and scaling up their businesses.

According to her, WWGT serves as a business network that fosters growth among its members by providing a platform for building healthy business relationships, knowledge-sharing, and collaboration, adding that, businesses in these sectors can

join by registering for the BusyBee Event Business Summit, scheduled to hold from November 21 to November 23, 2023 in Lagos, which grants them one-year free access to the community.

“The advantages of being a WWGT member include networking opportunities, business support, brand visibility, access to industry experts, resources, knowledge sharing, staying updated on the latest technology trends in the event industry, ex-

posure to International markets

etc Members can leverage these benefits to enhance business growth.”

Continuing, she pointed out that intra-competition within WWGT is managed by promoting a collaborative environment, stressing that members are encouraged to share knowledge, collaborate on projects, and support one another rather than competing directly.

Chimoney and Interledger Partner to Revolutionise Global Payments

A Toronto-based, Techstarsbacked fintech, Chimoney, has announcedapioneeringintegration with the Interledger Foundation (ILF) to redefine global payments and improve financial inclusion and innovation.

This means by harnessing the power of ILP, Chimoney will deliver seamless transactions across diverse payment networks, from traditional banking systems to emerging blockchain platforms, making it easy to democratize financial services, mirroring the internet’s universal accessibility via the TCP/IP protocol.

Uchi Uchibeke, CEO of Chimoney, explained that by integrating the transformative Interledger Protocol (ILP), Chimoney will bring Mobile Money, Airtime, Gift Cards, and Bank cash out to the Interledger ecosystem.

“Our vision at Chimoney has been steadfast - to unlock global economic opportunities by eliminating financial barriers. The integration of the Interledger Protocol is a monumental stride.

It’s set to enable faster movement of value across currencies, countries, and payment networks, akin to how the internet democratised information.”

Briana Marbury, the CEO and President of the Interledger Foundation also expressed excitement about the partnership. According to her, the partnership with Chimoney will create more opportunities to further the goals of global financial inclusion.

“We are excited to have

awarded the ILPFinancial Services grant to Uchi Uchibeke, founder of Chimoney. We are also looking forward to Uchi speaking at our Interledger Summit this year in Costa Rica, where he and many other innovators in this space will share their insights.”

Talking further on the partnership, Uchi explained that since its inception, Chimoney has championed financial empowerment and inclusion. With support in 100 countries and rapid expansion

However, gamma is rewriting this narrative by investing its largest resource focus in Nigeria, recognising its position as the leading country in terms of the global export of music.

The company is an artiste-first multimedia platform, providing creative and business services across all artistic and commercial formats, today announced an expansion of its commitment to Africa with the addition of two impactful music industry pioneers to the region’s executive team. The executive appointments include legendary Nigerian songwriter and recording artiste, Larry Gaaga, joining as Vice President/General Manager of Africa.

Taken together, these actions amplify the foundation that gamma. and its digital distribution arm, Vydia have built in the region, increasing the company’s capabilities and resources and ensuring a two-way exchange of culture and opportunity for artistes worldwide. In his new role,Gaagawilloverseethecompany’soperationsacrosstheentireAfrican continent. His visionary leadership and guidance to the teams in both NigeriaandSouthAfricawilldrivethe company’s growth, development, and ultimate success across the region.

“Larry’s extensive experience, deep understanding of the local music landscapes, and relentless passion for nurturing talents are welcome additions to the gamma. family,” said gamma Co-founder and CEO, Larry Jackson. “He will strengthen our market presence and drive significant growth acrossAfrica and by extension, worldwide.” Gaaga’s primary focus will be on providing strategic direction for long-term success, driving revenue growth, and expanding market reach across Africa. He will spearhead initiatives to develop local talent, ensuring their success both domestically and on the global stage through collaborations and partnerships with the wider group. Responding to his appointment, Larry Gaaga said, “I am honored and excited to take on the role of Vice President/ General Manager of Africa.

PWAN CHAMPION HOSTS SECOND AWARDS NIGHT, CELEBRATES EMPLOYEES

PWAN CHAMPION, an affiliate under the PWAN GROUP, the first real estate network marketing company in the world held a celebration recently to appraise its successes as a company and to reward its best performing staff and ever-supportive realtors popularly called the Pwan Business Owners.

This year’s award night, the CHAMPIONS NITE 002, was held at the Ground Ball Room, Eko Hotels and Suites, Victoria Island, Lagos and was attended by some of the biggest personalities in the real estate industry.b The evening began with a red carpet event that saw celebrities and industry giants from different walks of life adorned in their best outfits just to identify with the Pwan Champion brand.

A welcome address by Dr. Benedict Abudu Ibhadon, the MD/ CEO, PWAN CHAMPION opened the event and energetically set up the atmosphere for a blissful experience.

Dr. Ibhadon also carefully took everyone in the room on a roller coaster ride from the inception and birth of the company to date; citing both personal and corporate experiences and how each step, each innovation, and each decision helped in shaping the company into what it is today.

The CEO further expressed that the Champions Nite is fully to celebrate the marketers who have done well to contribute to the company’s growth, “And today also happens to be our 2nd year anniversary as well and we would be giving our cars, lands and other incentives to appreciate the deserving staff.

“ In less than two years we have 16 estates in Nigeria in more than seven locations and have done over 10billion in two years which is why we have set aside today to celebrate everyone who has contributed to what we are.”

Dr. Ibhadon during the event laid out the company’s plans and projections for the new business year which was keen on continuing with the achieved successes.

CENTURY ENERGY COMPLETES SPREAD MOORING INSTALLATION OF FSO ELI AKASO TERMINAL

to more countries and payment options, the organization shines in the global payouts space and aims to unify payment networks globally.

“The integration of the Interledger Protocol, coupled with collaborations with licensed Financial Service Providers within the Interledger ecosystem, underscores Chimoney’s edge. This move highlights Chimoney’s dedication to providing top-tier solutions, ensuring unmatched efficiency, scale and reach”.

“With the enhanced capabilities of Chimoney’s ILP-powered platform, businesses can expect streamlined payouts, further solidifying Chimoney’s reputation as the ultimate choice for choicebased flexible global payouts.”

Uchi added that “we invite the Interledger community, visionary partners, and businesses worldwide to delve into Chimoney’s payout solutions and Wallet as a Service (WaaS) offering to increase time to market and payout speed by 20,000x.”

Century Energy Services Limited (CESL) has completed the mooring installation of the double hull, 2,000,000 barrels (bbl) storage capacity FSO ELIAkaso Termina located Offshore Bonny to bridge hydrocarbon evacuation, storage and offtake challenges for injectors within the area.

FSO Eli Akaso Terminal is owned by Energy Link Infrastructure Limited (EnergyLink) and operated/managed by CESL.

ThiscollaborationalignswithCESL’svisionofstandardhydrocarbon commercialisation through infrastructure.

The Terminal is anticipated to complement EnergyLink’s ability to unlock unparalleled value in customer access and establish a commanding presence in the global oil and gas trading and supply chain.

Theterminaloperationswillencouragemorehydrocarbonproduction by ameliorating current crude evacuation/storage challenges that frequently impact injector export programs, resulting in operational cost increases for both producers and customers.

With this start of hydrocarbon storage services, stakeholders in Nigeria and globally can take further comfort as the terminal operations will play a pivotal role in balancing supply and demand in the growing energy market ensuring that hydrocarbon is available when and where they are needed, and further providing a buffer against market and supply chain disruptions.

Managing Director of EnergyLink, Adekolapo Ademola, said, “The FSO ELIAkaso, which offers hydrocarbon storage and export solutions, exemplifies the firm’s strategic approach to addressing both current and future demands of the oil and gas industry.

“We remain steadfast in our commitment to pursuing the most resilient, competitive, and high-return asset investments, ensuring consistent cash flow for the foreseeable future to all our stakeholders. This strategy is critical in EnergyLink’s strategic business planning”, he added.

Innoson Motors, a Techno phone, Nexus appliances, 1 year supply of Pepsi, Dano milk, Munch It, Waw, Hawaii soap, Titus, Lush hair, and Sardine products.

Odiniya from Kogi state was previouslyahousemateoftheLevel Up (season 7) edition of the show where she was the third housemate to be evicted.

Ilebaye Odiniya with Ebuka Obi-Uchendu at the event

Uchi Uchibeke, Founder Briana Marbury, President & CEO, Interledger Foundation

Fast Credit Announces Successful Maturity Payout of Series 1 Commercial Paper to Investors

Kayode Tokede

Fast Credit, a leading player in the Fintech industry, has announced the successful maturity payout of its Series 1 Commercial Paper to investors. The company, in a statement said it fulfilled its financial commitment, providing investors with a lucrative return on their investment.

“Fast Credit issued the Series 1 Commercial Paper as part of its strategic financing plan, offering an attractive investment opportunity to both institutional and individual investors. This

issuance aimed to deepen its footprints in the market through its range of digital products and services for its financial inclusion drive, while also diversifying the company’s capital structure.

“The Series 1 Commercial Paper offered competitive interest rates, making it an attractive choice for investors seeking short-term, low-risk investments. The maturity payout date, which was set at September 4, 2023, has now been reached, and investors have received their principal investment along with the agreed-upon interest, “it stated. CEO of Fast Credit,

Emeka Iloelunachi, expressed gratitude to all investors for their trust and confidence in Fast Credit adding, “We are delighted to announce the successful maturity payout of our Series 1 Commercial Paper. This marks a significant milestone in our commitment to providing strong returns to our investors while meeting our financial objectives. We deeply appreciate the faith our investors have placed in us.”

The company remains committed to its ongoing growth and success and continues to explore innovative ways to raise capital while delivering value to shareholders.

Stanbic IBTC Unveils Fintech Subsidiary Zest

Nume Ekeghe

Stanbic IBTC has introduced its fully-owned fintech subsidiary, a comprehensive financial platform designed to connect and serve both businesses and individuals with cutting-edge technology, offering a wide range of financial services across various sectors.

Zest (formerly Stanbic IBTC Financial Services) is slated to enable consumers and businesses to interact seamlessly across multiple payment channels, including card rails, account-based payments, QR codes, USSD, and more, all integrated into a single platform with versatile APIs for modular or comprehensive integration.

Speaking at the unveiling yesterday, Chair man of Stanbic IBTC Holdings Plc,

Mr. Basil Omiyi noted that Zest was set up to execute a solution-driven, platform orchestration strategy that will serve consumers, businesses, application developers, and other financial services providers.

He said: “As a group, we operate a closely knit ecosystem made up of subsidiaries that cuts across different aspects of financial services, such as banking, pensions, insurance, assets management, investments amongst others. We are collectively aligned on the role of fintechs as platform enablers to deliver on the next wave of growth, especially in the area of financial services. So, we setup Zest to execute a solution-driven, platform orchestration strategy that is positioned to serve

consumers, businesses, application developers, and other financial service providers.”

On his part, the Chief Executive of Stanbic IBTC Holdings Plc, Dr Demola Sogunle, affirmed that Zest as the group fintech subsidiary, would be the epicenter of solutions delivery, new partnerships, and better experiences in the area of payments and customized solutions delivery.

He added: “We have developed multiple options and enhanced features for businesses to operate seamlessly and manage their inventory. We provide a robust dashboard, to enable businesses make key decisions leveraging insights and data that we collate and represent to them on the platform”

Unity Bank to Reward Frontline Staff, Customers

Kayode Tokede

To mark the 2023 Customer Service Week, Unity Bank Plc customers will win prizes while participating in engagement activities lined up for the week-long celebration.

Commenting on this year’s Customer Service Week celebration, Unity Bank’s Managing Director/Chief Executive Officer, Mrs Tomi Somefun while congratulating frontline teams and its customers reenacted the bank’s Service Charter which provides the benchmarks, culture and values as well as performance standards for upholding service excellence and commitment to our customers.

While describing the customers as the Bank’s lifeblood, Somefun said: “We celebrate our frontline teams for strongly and meaningfully reinforcing service excellence and on this score, our Bank does not take for granted your choice to Bank with us as we understand that choosing us is because of our shared values, commitment to excellence and exceptional service to you at all times.”

Also speaking on this year’s celebration, Chief Customer Service Officer, Unity Bank Plc, Titilayo Abraham said: “This year’s theme, “Team Service” which incidentally is one of the bank’s core values could not have come at a better time with all the challenges being

MARKET INDICATORS

experienced in the banking sector.

“As a result of this, we plan to have team-focused initiatives to laud and acknowledge the spirit of teamwork across the Bank. The intent is to endear our customers and cultivate a positive work environment among staff where every team’s contribution is not only recognized but deeply valued and applauded. In addition to our team-building sessions, we will have the team appreciation Wall of Fame, photo booths and themed backdrop banners at selected branches.”

She added that “a significant highlight of this year’s celebration is the recognition of outstanding teams” because

Wema Bank, Wakanow Partner to Bridge Gap in Affordable Travel

Wema Bank Plc, has partnered with Wakanow, Africa’s leading travel tech company, to integrate digital banking and seamless flight bookings through the ALAT platform.

According to Wema Bank, this groundbreaking partnership aims to revolutionize banking and financial services in Nigeria by offering Nigerians a seamless way to book local and international flights at a discounted rate.

Executive Director, Lagos Directorate at Wema Bank, Oluwole Ajimisinmi, expressed the bank’s optimism at the prospect of partnering with an industrycertified brand like Wakanow,

adding that with the partnership, customers that book their flights on ALAT would get a cashback of 0.5% within a 3month timeline.

“By merging the functionalities of our digital banking platform ALAT and Wakanow flight bookings, we are enabling Nigerians to have all their financial and travel needs met in one place. This collaboration reflects our commitment to constantly deliver innovative solutions that enhance our customer convenience and satisfaction, “he said.

In her remark, CEO of Wakanow Nigeria, Adenike Macaulay, stated that this partnership is not just a convergence of

Money

banking and travel services but also a testament to Wakanow and Wema Bank’s shared vision of leveraging technology to enhance the lives of customers.

“We take immense pride in being a leading travel technology company in Africa, dedicated to democratizing travel and simplifying access for all. Our collaboration with Wema Bank’s ALAT is a testament to our commitment to working with the banking sector to achieve this goal. We are thrilled about this partnership and look forward to forging more innovative alliances, both within and outside the banking sector, “Adenike stated.

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

MARKET

NIDF Lists N92.53bn First Naira Denominated Infrastructure Fund on NGX

Kayode Tokede

The first local currencydenominated infrastructure investment trust fund in Nigeria and Sub-Saharan Africa, Nigeria Infrastructure Debt Fund (NIDF) has been listed on Nigerian Exchange Limited (NGX).

NIDF listed 853,817,692 units on the main board of NGX at N108.39 per share,

representing N92.53billion in market capitalization.

The firm assured investors of remitting of quarterly dividends by paying out profits from investing in industries like power, transportation, healthcare and education.

The listing that took place yesterday on the NGX was commemorated with a closing gong ceremony where the management of the Funds

engaged market stakeholders with a Facts Behind the Listing presentation.

The NIDF is a N200 billion public infrastructure investment fund managed by Chapel Hill Denham.

The fund, backed by major institutional investors including the Nigeria Sovereign Investment Authority (NSIA), has provided long-term financing in naira for private

infrastructure projects. Since inception, it has returned 155per cent.

Speaking at the closing gong ceremony, the Chief Executive Officer, NGX, Mr Temi Popoola said Chapel Hill Denham has been consistent with immense value addition to the Exchange and a key contributor to capital market growth in the last five years.

“One big innovation in the last three years was the MTN public offer. It included a complete endto-end digital application process, which could not have been possible without Chapel Hill. We have been trying to showcase Nigeria as an investment destination, and Chapel Hill has been a strong supporter of that system,” Popoola said.

The CEO added that the capital market is increasingly becoming a vehicle for solving key governance problems, especially in the aspect of raising debt funding. He noted that the NIDF is an elegant solution that exist not only in Nigeria but in foreign markets. “The retail investor landscape will find this very attractive. It sells itself,” he explained.

PRICES FOR SECURITIES TRADED ASOF OCTOBER/6/23

Cardoso Meets the Moment

Louis Achi

The new governor of the Central Bank of Nigeria, CBN, Dr. Olayemi Michael Cardoso, formally assumed duty in an acting capacity on Friday, September 22, 2023, following the resignation of Dr. Godwin Emefiele. On September 26, the Senate in consonance with constitutionalized procedure confirmed his appointment by President Bola Ahmed Tinubu.

The upper legislative chamber also confirmed the appointments of Emem Usoro, Muhammed Abdullahi-Dattijo, Philip Ikeazor and Bala Bello as deputy governors of the CBN, cleared by a voice vote after thorough screening by senators at the plenary.

As it were, the senate screening provided an opportunity for the new CBN boss to give a ‘sneak preview’ of his vision of the nation’s apex bank, particularly, its revamped mode. Without beating about the bush, Cardoso captured the core of his governance thrust as evidence-based, data-supported monetary policy and financial stability - both encapsulating the twin drivers of his mission trajectory.

Besides laying out in straightforward language his approach to incepting a new CBN, Cardoso enumerated his plans to help President Bola Tinubu’s administration to achieve its projection of $1trillion GDP growth within eight years.

According to him, “What is important to us is the element of economic growth. Our feeling is that in identifying the important issues with economic growth; we believe very strongly that size matters. The economic policy proposal of the administration identified a set of physical reforms and growth patterns that will be achieved in $1 trillion GDP within eight years.

“In reviewing selected growth targets that can achieve $1 trillion GDP growth in comparison with selected countries with large population and similar characteristics as Nigeria, it is interesting to identify micro-economics indices that point to Nigeria’s economic trajectory being faithful to implementation of the proposed economic reforms.

“In economies bigger than $1trillion these indices include moderate inflation, sizeable foreign reserves and capacity to creating rebound from economic downturn.

“The (Tinubu) administration has identified such a bold target for the country, it is our feeling that achieving this is very critical to achieving the stability that we require in various economic indices, it is not the only thing but it is very important. So we believe that this is the right way to go.”

According to Cardoso, the new CBN team would invest heavily on data gathering to enhance adequate forecast. Hear him: “We will be going to evidence-based monetary policies; we shall not be making decisions based on whims. I believe that to significantly revamp the infrastructure of the central bank with respect to data and to ensure that our data gathering capacity is significantly enhanced so that we can make decisions based on data that is key in determining the

rate of inflation.”

Speaking on inflation, Cardoso said: “On the issue of inflation and the price of goods, the jury is out, some people will say structure; some others will say it is money supply issue. Truth is, it is a combination of both. If indeed it is food inflation we need to ramp up food production. That is the effort that the fiscal side will tackle and it is tackling and we will collaborate with them to ensure that it happens.

“If it is energy we know the challenges of energy that if you were importing things into the country that has energy component, automatically you are importing inflation. The whole objective is ensuring that the energy side of the country is ramped up. We will also work very closely with the fiscal side to ensure that it happens.

“The big issue is the issue of money supply and the way that money has gone up tremendously in Nigeria. That on its own has major effect on inflation,” he added.

He stressed that, “Going forward from the Central Bank of Nigeria, we will do everything possible to ensure that we work closely with the fiscal side and ensure that the issue of deficit financing does not become a problem to us. We cannot afford to have the big challenges from fiscal deficit financing.”

Cardoso reminded the rapt

Senators that he had the privilege of serving as the chairman of Citi Bank from 2010 to 2022, where he dedicated himself to enhancing both the financial and non-financial aspects of the institution.

He correctly described the current exchange rate in Nigeria as very worrisome but pledged that the new management of the apex bank would come up with rules that were open and transparent to the players and stakeholders in the economic sector to understand.

His words: “We have to be transparent so that any of the players in that market will understand. We have to come up with rules that are transparent also. You cannot reasonably expect serious foreign investors, portfolio investors’ full direct investment, without addressing the short term measures.

“Those players who will have direct impact on our market will not do so if we do not have an open transparent system that everybody understands, that can be relied upon, and which is not subject to review at will without the involvement of critical stakeholders.

“In setting up those guidelines, one will also have to carry stakeholders along. We should be ready to engage people and share views. That I think should be a major objective to get stakeholders together and share views.”

A notable economic and development policy advisor, circumspect financial sector leader with over three decades of managerial experience, Cardoso has previously demonstrated a relentless pursuit for growth, but has done so in a measured and calculated manner. He certainly needs these traits at the CBN, an entity many see as severely compromised.

It’s no secret that today, the world and Africa stand on the brink of substantial disruptions - and of considerable opportunity - as new business and banking models challenge traditional playbooks. This requires bold, innovative thinking to frontally grapple with the associated tests. Good a thing, Cardoso rejects staying tamely at the end of received policy prescriptions. He covets knowledgedriven innovations, proactive engagement with stakeholders, policy makers and sure-footed action. These dimensions have been boldly mirrored in his leadership and the remarkable impact he has made in the financial services sector.

The new CBN boss’ appointment is widely seen by the critical financial sector community as aligning with President Tinubu’s “Renewed Hope” agenda targeting revitalization of the Nigerian economy and building confidence among Nigerians and international partners.

To achieve critical Financial System Stability which Cardoso has promised, a resilient and stable financial system is imperative for continued growth of the nation’s economy given the intermediation role of financial institutions, to support the needs of individuals and businesses.Core finance-banking sector analysts believe the CBN had intermittently veered into areas that are not its core mandate. It could be recalled that the CBN’s Anchor Borrowers’ Programme, a failed financing model for small-holder farmers, was part of the last administration’s efforts to boost the nation’s rice production, supply, distribution and consumption value chain.

But these failed quirky extra-mandate experiments, according to economic gurus, should certainly cease under the Cardoso-led CBN. He would nevertheless have to grapple with other transformative imperatives without going beyond CBN’s monetary policy mandate which the previous dispensations largely trampled on.

With a career spanning over three decades, Cardoso has made significant contributions to the private and public sectors, leaving an ineradicable mark on the country’s economic landscape.

His private sector to public service and policy advocacy reflects a lifetime of leadership, achievement and a genuine commitment to positively impacting society. His impact is felt in Nigeria and on the global stage where he continues to shape policies and initiatives that contribute to economic growth and social development.

Now in the cockpit of the nation’s apex bank, sector gurus expect Cardoso can only leverage his new responsibility to create sweeping, positive change.

Cardoso

SEEKING ROYAL BLESSINGS...

House to Probe N226.3bn Judgement Debts Incurred by Government's MDAs

Urges SON to check proliferation of sub-standard steel

Advises FCCPC to live up its core mandate

Adedayo Akinwale and Juliet Akoje in Abuja

The House of Representatives has resolved to investigate the sum of N226,281,801,881.64 judgement debt incurred by Ministries, Departments and Agencies (MDAs) of the government.

The resolution House followed the adoption of a motion on the urgent need to ensure the prompt payment of top priority judgement debt incurred by MDAs through Promissory Notes, moved at the plenary yesterday, by Hon. Lanre Okunlola.

Moving the motion, the lawmaker stressed the need for resolving top

priority judgement debt incurred by MDA through the issuance of promissory notes in the sum $556,754,584.31 and £398,526.17.

He said: "The various MDAs of government have incurred substantial judgement debt totaling the sum of $556,754,584.81, £98,526.17 and N 226,281,801,881.64 which pose a significant financial burden on our nation’s finances."

Okunlola emphasised that the judgement debts were top priority obligations that required prompt resolution to ensure the financial stability and reputation of government.

He was of the opinion that it was essential to address the judgement

Covenant University Alumni Association (CUALA) Announces 2023 Graduating Student Award Recipients

The Covenant University Alumni Association (CUALA) has awarded cash awards worth N2.6 million to exceptional graduating students of the university in 20 categories.

The award featured academic and non-academic categories including; best graduating students across several courses and leadership, entrepreneurship, community service, social action and more.

Some of the award recipients include Teniola Morinsola Faith and Ododo Moses Elijah who won a total of N1,150,000 and N300,000 respectively. Teniola Morinsola Faith won 3 academic awards as the Best Graduating Student (Overall) in Accounting, Best Graduating Student in Accounting (Female) & Best Graduating Student in the College of Management & Social Sciences. Ododo Moses Elijah, who won an academic award as the Best Graduating Student (Male) in Accounting and 2 non-academic awards for leadership and social action/development, expressed how thrilled he was to join the alumni association and said he was grateful to the award sponsors and for the motivation to do more.

Speaking about the awards, Kemi Onabanjo-Joseph, the President of CUALA said “The annual CUALA Alumni awards present an opportunity to give back to our alma mater and reward academic and non-academic excellence in the graduating class.

" It is also a platform to inspire current students to strive to be better.

We are so delighted to have had the highest volume and value of awards so far, and look forward to doubling those numbers next year," the alumni President noted.

The Student Council Chairman, Victor Egbadon, thanked the alumni association on behalf of the 18th graduating set of Covenant University for the awards and expressed how pleased he was to see the alumni’s commitment to the graduating class.

Onabanjo-Joseph also expressed gratitude to members of the alumni association for their generous support and for sponsoring the awards. She called on organisations who would be interested in offering non-cash rewards such as job/ internship opportunities, business grants and more to the graduating students.

debts in a responsible and transparent manner.

To this end, the House resolved to investigate the existence and magnitude of the judgement debt incurred by MDAs.

Furthermore, the House, "Recognises the urgency of addressing these judgement debts to safeguard the financial stability of our government.

"Authorise the issuance of Promissory Note to settle these

products

judgement debts."

The lawmakers also mandated its Committee on Aids, Loans and Debt Management to oversee the process of issuing promissory notes and report to the House accordingly.

Meanwhile, the House of Representatives, yesterday urged the Standard Organisation of Nigeria (SON) to check the proliferation of sub-standard steel production in Nigeria.

The House also called on SON

to commence massive enforcement of its mandate to prosecute anyone dealing in substandard steel products to face the law as enshrined in section (4) sub section (l) of the Standard Organisation of Nigeria (SON) Act,2015.

The lawmakers further urged the Federal Competition and Consumer Protection Commission (FCCPC) to live up to its core mandate as stipulated in the Federal Competition and Consumer Protection Act of 2018

(FCCPA) by eliminating hazardous and substandard products from the market.

These resolutions followed the adoption of a motion on “the need to curb proliferation of sub-standard steel production in Nigeria,” moved by Hon. Aluko Ahmed Yinka. Yinka, noted that the increasing rate of building collapse claiming the lives of Nigerians, was not unconnected to the circulation of substandard steel products.

FG to Review Agreement with JOHESU

Onyebuchi Ezigbo in Abuja

The Ministry of Labour and Employment has said it would begin a review of various agreements reached between the federal government and Joint Health Sector Unions (JOHESU).

The Minister Rt. Hon. Simon Lalong, stated this in office in Abuja, when he received members of the Joint Health Sector Unions and Assembly of

Healthcare Professionals, led by Olumide Akintayo, who paid him a courtesy visit.

A statement by the Ministry's Director of Press and Public Relations Office, Olajide Oshundun quoted Lalong as having assured JOHESU that the Ministry would do the needful, and deploy every necessary effort to see to the amicable and satisfactory resolution of the issues.

Speaking earlier, leader of the

team, Olumide Akintayo said they were in the Ministry to formally congratulate the Minister and solicit his understanding and support towards actualising the implementation of several agreements reached between them and the federal government.

One of the major issues, he said, was salary adjustment for health workers under the Consolidated Health Salary Structure (CONHESS) which had not been implemented

since it was approved. Akintayo, called on the Minister, as the Chief Conciliator, to invoke an immediate action by the Presidential Committee on Salaries, which has the power to push for its implementation.

He assured the Minister that JOHESU was not interested in using strikes to achieve its aims but would rather explore the processes of negotiation to maintain industrial harmony.

Lagos-Paris Fashion and Design Accelerator Launched

Michael

Olugbode in Abuja

The French Embassy has announced the launch of the Lagos-Paris Fashion & Design Accelerator, a 9-months programme expected to start from October 2023 to June 2024. The programme is aimed at supporting 10 high-potential Nigerian brands within the fashion and design ecosystem.

According to a statement yesterday, the accelerator emphasises on providing close mentorship, nurturing creativity, reinforcing business literacy and guiding Nigerian emerging creatives and their teams in navigating the French and global fashion industry.

The statement revealed that through the platform, the French Embassy in Nigeria aims at

celebrating Nigerian creativity and cultural preservation initiatives, sustainable practices and cross-cultural collaborations, while giving the tools and skills for creatives to build long lasting and incremental financial growth for their company.

The statement added that the aim of the programme was not only to strengthen the entrepreneurial skills of 10 Nigerian brands, but also to support their export opportunities to France by participating in key events.

The programme, the statement said, has been thought in collaboration with several remarkable Fashion and Design stakeholders and its curriculum, which combines group and individual training, mentoring

and master classes (over 120 hours per brand), has been defined in conjunction with renowned French and African experts and the Nigerian incubator for creative industry CCHUB, stressing that however, the laureate brands are considered in their singularity with a tailored accompaniment.

It added: “The Accelerator will comprise of: Physical tailored 1 on 1 courses on a broad range of subjects, with actual deliverables and tools; Monthly mentorship sessions; High-level masterclasses; Direct & indirect grants; Investment readiness module with pitching sessions to investors; Support to the participation to a French prescriptive event in 2024.”

The statement revealed that the 10 brands selected for this 2023-2024

cohort, amongst more than 120 applications are: “For Fashion: Lagos Space Programme, TJWHO Design, OBIDA, EKI KERE, ELEXIAY and WAF – Wafflesandcream Limited; For Accessories: MALIKO and Ethnic Africa; For Design: OMI Collective et Aga Design and Culture Limited.”

The statement also said the Lagos-Paris Fashion & Design Accelerator was part of a global programme announced by the French President, Emmanuel MACRON in February 2023, called “Création Africa.”

“This programme’s aim is to increase support and resources to the French diplomatic network and its action toward the global ecosystem of creative and cultural industries.

L-R: Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, Governor Douye Diri and the King of Nembe Kingdom, Dr. Edmond Daukoru, Mingi XIII, during the Peoples Democratic Party campaign trail visit to the monarch’s palace at Ogbolomabiri in Nembe Local Government Area ... yesterday

2023 TEACHERS' DAY CELEBRATION AT THE OBAS'

Shettima Seeks Bankers’ Support for Govt's Digital Jobs Initiative

Deji Elumoye in Abuja

Vice President Kashim Shettima has sought the partnership and support of the banking community for the planned one million digital jobs initiative by the Tinubu administration for young Nigerians.

Shettima, who made the demand yesterday when he played host to a delegation from the Chartered Institute of Bankers of Nigeria (CIBN) at the State House, Abuja, described President Bola Tinubu as Nigeria’s most business-friendly leader.

At another forum, Shettima has assured the north east leaders of the Tinubu administration’s commitment to stabilising and developing the North East zone, saying his principal meant well for Nigeria.

Addressing the delegation led by the President and Chairman of the Council, Dr. Ken Opara, who pledged to help the government towards reviving the nation's economy, the vice-president, spoke about the intentions of the Tinubu administration across different sectors.

“Beyond the fuel subsidy removal, the harmonisation of the foreign exchange, beyond the tax and fiscal reform committee,

President Bola Tinubu is the most business-friendly President in the contemporary history of Nigeria. He understands the business world; he has been part of the business world. He is determined and committed to repositioning this nation."

Shettima urged bank executives and other members of the banking community to key into the federal government’s digital programme to create one million jobs in the technology space.

“Support us in our digital jobs initiative, support us to save this nation. I have confidence and hope in this nation and together we can make this nation work again,” he said.

Shettima, who spoke glowingly about the commitment of the banking sector to the development of the Nigerian economy called on the community to “bequeath to the future generation, the Nigeria of our dream.”

Earlier, Opara, noted that the leadership of the banking community in Nigeria was at the State House to pay homage to the Vice President.

He commended the Tinubu administration for its recent economic policies, especially the removal of fuel subsidy and

exchange rate harmonisation, among others.

Opara assured the vicepresident of CIBN’s cooperation in all of the administration programmes and policies, noting that, “The banking community will be very supportive in ensuring that the laudable policies of this administration are actualised in the interest of the people of this country.

“The banking industry will continue to play pivotal roles in supporting inclusive economic growth. We will continue to deepen financial inclusion by expanding access to banking services across the country."

At another forum, while receiving in audience at the State House, Abuja, a delegation of North East Leaders of Thought (NELT), Shettima said, “The president means well for the nation. I have seen the soul of Bola Tinubu; I will not stop saying that."

The North East leaders presented the North East Development Strategy and Plan document to the Vice President.

The vice-president, who observed that the delegation was made up of crème de la crème of the North East geopolitical zone and reflects the diversity

of the region, said at their age, they were only fighting for their children and grandchildren and not for any pecuniary interest.

He assured the group that the North East Development Strategy and Plan document would get to the managing director of the North East Development Commission (NEDC) within 48 hours.

Recalling the visit by the board and management of NEDC, who had presented a 10-year master plan for the region’s development to him on Wednesday, Shettima stressed the need for transparent leadership.

He stated: “80% of the anticipated NEDC budgeted fund is coming from multilateral agencies, and if you put in place a leadership that is inept and corrupt, you cannot get a dime from these agencies.

“I tasked the NEDC management to ensure that they make tangible investments in three key areas: electric vehicle technology, agriculture, including irrigation technology, and digital education. We are all united by poverty, insecurity and destitution. Our problem is not ethnicity or religion. Religion has become a body of rituals devoid of practical value. We must unite to fight these common enemies,"

Kachikwu: I Didn’t Take Bribe from Diezani or Her Ally

A former Minister of Petroleum Resources, Dr. Ibe Kachikwu, yesterday, dismissed report that he was bribed by one of his predecessors, Diezani AlisonMadueke, who is currently being tried in a British court for alleged bribery.

Kachikwu had frowned on some recent reports, first by an online newspaper, The Cable, which claimed he was named in the ongoing bribery case against Alison-Madueke, in London, saying the slanting of

the report was an unkind cut.

Cable had exclusively reported that Kachikwu, alongside a few others, was mentioned in the criminal charges against Alison-Madueke, who was accused of receiving bribes in the form of cash, luxury goods, flights on private jets, and the use of high-end properties in Britain in return for awarding oil contracts.

According to the Cable report, which claimed to have sighted the court processes, “Kachikwu

was bribed in August 2015 with the intention of influencing his capacity as a foreign public official.”

However, in his reaction, Kachikwu, stated that, “I refer to the publication carried by some online media channels indicating that I was mentioned in the charges brought against Diezani Alison-Madueke and others in a London magistrate court.

“According to the publications, the said charge alleged that I was bribed to induce me to

possibly confer some potential business advantage on one of the accused. I wish to state that I never met any of the accused before, all through and after my public service period and was not offered nor received any bribe nor did any of the accused persons receive any business favours while I served.

“If there was any attempt to bribe me through anyone, I was not part of that and received no offers or favours therefrom,” he said.

he stated.

The delegation led by a former Federal Commissioner for Information and Culture, Major General Ibrahim Bata Haruna (rtd), said the organ was a non-partisan and non-religious body bound by common zeal for the North East.

Haruna said, “The document provides a roadmap for the

development of the North East and covers areas such as security, agriculture, manufacturing, business and trade, solid minerals, and health, among others.

“We have captured key deliveries for each sector. This document will provide an insight into addressing some of the issues facing the region."

Obaseki Warns Against Politics of Lies, Manipulation

Swears in new aides in Edo central

Adibe Emenyonu in Benin City

Edo State Governor, Mr. Godwin Obaseki, has warned against politics of lies, manipulation and blackmail, noting that politicians must begin to put in deliberate efforts to earn the trust of the people to win elections rather than rely on court judgments for political power.

Obaseki gave this advice during the inauguration of Senior Special Assistants (SSAs) and Special Assistants (SAs) in Edo Central Senatorial District, in Irrua, Esan Central Local Government Council.

The SSAs and SAs were drawn from Igueben, Esan West, Esan South East, Esan North East and Esan Central LGAs of the State.

Obaseki said, “One of the criteria used for this appointment is that you must reside in your wards and if not, we will withdraw your appointment. Any SSA or SA working outside the local government or operating from Benin City will be dropped immediately.

“You are supposed to give a report monthly which will be reviewed to improve the lives of the people. You are a very important plank of our administration.

“We have just gone through our local government election and you campaigned with me and I thank you for what you did, which made it possible for us to have achieved the results we achieved during the election.”

On winning and losing elections by politicians, he noted, “I heard that some people are complaining that they lost the election. I wonder why they will win the election when they didn't come out to campaign.

“Well, that is the nature of our politics as they believe that the Court will appoint people into power. They rely on the court for political power rather than hoping on the people for political power.

“Politics is being played on lies, misinformation, and rumours as a way to get political advantages. They want to confuse our people but your job is to put the record straight, letting the people know the truth.

“We have Chairmen and Councillors who will administer the local government councils but those we are swearing in today are officers responsible to the Governor of Edo State as your role is different from that of the local government.”

Describes Tinubu as Nigeria’s most business-friendly leader Tells north east leaders president means well for country CIBN pledges help towards revival of nation's economy

COMPLEX…

L-R: Ogun State Deputy Governor, Engr. Noimot Salako-Oyedele; Ogun State Governor Prince Dapo Abiodun; overall Best Teacher in Public Primary School, Mr Togbe Ganiyu and the Special Adviser on Education, Science and Technology, Prof. Abayomi Arigbabu, at the 2023 Teachers' Day celebration held at the Obas' Complex, Oke-Mosan, Abeokuta on Thursday.

TURKISH AMBASSADOR VISITS NAF HEADQUARTERS …

Sule: HURIWA Working with PDP to Hijack My Mandate

Igbawase Ukumba in Lafia

The Nasarawa States Governor, Abdullahi Sule, yesterday, accused the Human Right Writers Association (HURIWA) of working for the Peoples Democratic Party (PDP) to hijack the mandate given him to govern by the state.

The governor made the accusation in reaction to a media publication credited to HURIWA, urging the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate his alleged utilisation of state funds to support his legal battle, following the recent judgement by the Governorship Election

Petition Tribunal against him.

In a statement issued by his Senior Special Assistant on Public Affairs, Peter Ahemba, Sule called on the public to consider the allegation as another distractive strategy coming from an obviously partisan group working for the PDP.

He said: "It is on record that my administration has remained consistent in the promotion of transparency and accountability in governance, especially the management of state's meagre resources since assumption of office in 2019 and cannot use a penny belonging to the state to pursue my matter at the Appeal Court or any personal

Senate Condemns Abuja Hospital for Rejecting Robbery Victim

Sunday

Aborisade in Abuja

The Senate, yesterday, demanded a thorough investigation into the death of Greatnes Olorunfemi, a victim of notorious ‘one-chance’ robbers in the Abuja metropolis.

Olorunfemi was a community developer and member of the Young African Leaders Initiative Network (YALI), who died at the Maitama General Hospital after she was allegedly denied treatment for not providing a police report.

She was said to have been pushed out of a fast-moving vehicle along the MaitamaKubwa highway on September 26, 2023 by notorious ‘onechance’ operators, who had reportedly robbed her.

The Senate passed the resolution following a motion by Senator Asuquo Ekpenyong (Cross River South).

Consequently, the red chamber summoned the

Inspector General of Police, Kayode Egbetokun, Ministers of Health and FCT, Ali Pate and Nyesom Wike respectively over the issue.

It also directed its committees on Health and Police Affairs to invite the doctor,who allegedly refused the victim treatment, urging the relevant authorities to sensitise hospitals and health centres nationwide to ensure compliance to the Gunshot Act.

Ekpenyong, in his motion, said the action of the hospital was contrary to the Compulsory Treatment and Care for Victims of Gunshot Act, 2017. The law gives victims of gunshots and other emergencies the right to treatment.

The law also states that every hospital in Nigeria, both public and private, shall accept or receive, for immediate and adequate treatment with or without police clearance, any person with a gunshot wound.

cause.

"I hereby assure all individuals and groups, including HURIWA, who are working to hijack the mandate freely given to me in the March 18, 2023 governorship

election by the people of the state that they will not succeed by the grace of God."

Sule said he had since directed his legal team to appeal the erroneous ruling of two members of the three-

man panel of the tribunal and should do everything within the confines of the law to ensure that the mandate given to him remained in place till 2027.

"We wish to reiterate the

call on the good people of Nasarawa State to remain calm and peaceful in their conduct, no matter the provocation from members of the opposition party in the State," the governor advised.

Troops Recover Remains of Missing Fulani Leader in Bauchi

PSN official kidnapped in Jos Air Force calls for rearmament, synergy of strategy

Kingsley Nwezeh in Abuja and Seriki Adinoyi in Jos

Troops of the Special Task Force in Plateau State, have recovered the remains of the missing Fulani leader, Adamu Gabdo, the Ardo of Panyam, who was allegedly killed in Panyam, Mangu Local Government Area of Plateau State last week.

This was disclosed in a statement by the Media Information Officer of the task force, Captain Oya James, even as bandits have kidnapped an official of the Pharmaceutical Society of Nigeria in the state, Mr. Kim Bot.

But, in a related development, the Chief of Air Staff, Air Marshal Hasan Abubakar, has called for rearmament of the military and strategic collaboration of strategic military forces across the globe. James said, following credible information from well-meaning locals, “The troops conducted the operations in the early hours of today, 5 October 2033, and were able to identify and recover the remains of the missing Ardo around Boi along Pankshin - Bauchi Road in Tafawa Balewa Local Government Area of Bauchi State. The body has since been handed over to the family for proper burial.”

He said the breakthrough was made possible through the continued community engagements employed by the military, which remained key to the search operations, as troops worked closely with community leaders, critical stakeholders as well as family members of Ardo Adamu Gabdo to gather vital information and coordinate the search efforts.

“Consequently, the recovery of Ardo Adamu Idris Gabdo's remains marks a significant step forward in unravelling the circumstances surrounding his disappearance. The investigation will now proceed with renewed vigour to identify and apprehend those responsible for the heinous crime and quickly bring them to justice as directed by the Chief of Army Staff,” he said.

He said the General Officer Commanding 3 Division Nigerian Army, Major General AE Abubakar, while commending the special operation extended his condolences to the family and loved ones of Ardo Adamu Idris Gabdo during this difficult time.

Gabdo reportedly went missing on September 24, 2023, when he left Bauchi State on a visit to his siblings and friends residing in Panyam of Mangu Local Government Area of Plateau State. It was alleged

that he must have been killed by his abductors.

Also, confirming the development, state chairman of Miyetti Allah Cattle Breeders Association of Nigeria(MACBAN), Nuru Abdullahi said the corpse would be buried in Bauchi State.

Meanwhile, bandits have kidnapped an official of the Pharmaceutical Society of Nigeria in Plateau State, Mr. Kim Bot. Bot was reportedly blocked by the bandits on his way home from the office on Wednesday night and taken away to an unknown destination. He is the state secretary of PSN.

A Pharmacist, who preferred not to be named confirmed that Bot was kidnapped at about 8pm along Lamingo road.

“Since then, we have not seen him,” he said, adding that the incident had been reported to the police.

Relatedly, the Chief of Air Staff, Air Marshal Hasan Abubakar, while calling for rearmament of the military and strategic collaboration of strategic military forces across the globe, also called for more platforms, aircraft spares, armament among others, to enhance air power deployment by the Nigerian Air Force.

The air force chief, who spoke when he hosted military defence attaches of over 20 countries at the Nigerian Air Force Headquarters in Abuja, also called for the sustenance of military alliances across geo-political and strategic boundaries to enhance mutual cooperation and respect. The defence attaches were from United Kingdom, France, Japan, Italy, China, Egypt, India, Brazil, Ghana, Zambia, Zimbabwe, Sierra Leone, Japan, South Africa, Poland, Pakistan, and Senegal among others.

Abubakar, who highlighted the key components of his command philosophy, further called for more training slots for air force personnel.

"Future warfare would require proactive logistic support and high serviceability rates to assure sustainable air power delivery. To this end, we would require aircraft spares, consumables, armament, and sundry items to keep our fleet of aircraft flying optimally.

"Again, we will be counting on you our allies to facilitate our logistics capabilities and vital supply chains to meet the evolving air power demands of national security," he said, even as he sought more training slots to capacitate air force personnel to optimise air power delivery.

R-L: The Ambassador of Turkey to Nigeria, Hidayet Bayraktar, presenting a replica of TK1 Helicopter soon to be delivered to Nigeria to the Chief of Air Staff, Air Marshal Hasan Abubakar, during a courtesy visit to the air force chief at the NAF Headquarters in Abuja on Wednesday

COURTESY VISIT TO LAGOS STATE MINISTRY OF THE ENVIRONMENT...

L-R; Permanent Secretary, Ekiti State Ministry of Environment, Mr Babatunde Alokan; Hon. Commissioner Ekiti State Ministry of Environment, Mrs Tosin Aluko-Ajisafe; Hon. Commissioner for The Environment and Water Resources, Lagos State, Mr Tokunbo Wahab; Special Adviser on Environment, Mr. Olakunle Rotimi-Akodu; and Permanent Secretary, Office of Drainage Services, Lagos State, Engr. Olalekan Shodeinde; during a courtesy visit to Lagos State Ministry of The Environment and Water Resources, preceding a study tour to some Agencies of the Ministry on Wednesday

Aiyedatiwa to Ondo CJ: Disregard Assembly's Directive to Investigate Me

Fidelis David in Akure

The Deputy Governor of Ondo State, Mr Lucky Aiyedatiwa, yesterday, called on the state Chief Judge, Olusegun Odusola, to disregard the request by the state House of Assembly to set up a seven-man panel to investigate the 14 allegations of gross misconduct levelled against him.

The embattled deputy governor is facing impeachment process over alleged financial misappropriation bordering on the alleged approval of N300 million for the purchase of bulletproof SUV for himself, financial recklessness, andpublication in print media by his media aides maligning the credibility of the governor among others.

The Assembly had Tuesday issued a fresh directive to the state Chief Judge to "immediately" set up a seven-man panel to investigate Aiyedatiwa despite a court order rearranging the Assembly from the impeachment process.

However, the deputy governor, in a letter to to the CJ, explained that in line with the valid and subsisting order of the Federal High Court, Abuja and in the best traditions of due regard for due process of law and respect for the authority of the Court, the CJ should disregard

any motion, letter, application or request from the Ondo State House of Assembly, for the constitution of any panel of investigation in respect of the deputy governor of Ondo state, until the two pending cases are fully decided by the various courts with jurisdiction over them.

The letter, written on his behalf by a Senior Advocate of Nigeria, Ebunoluwa Adegboruwa, dated October 5, 2023, justified that Section 188 (2) of the 1999 Constitution made it mandatory that the holder of the office SHALL be served with the notice before the House of Assembly is conferred with jurisdiction to sit on the removal proceedings.

s in flagrant violation of the section when it convened its plenary proceedings on September 20, 2023 before the holder of the office was served, in breach of the constitutional and fundamental right to fair hearing of his Client (the Deputy Governor).

The letter partly read: "We are solicitors to His Excellency, the Deputy Governor of Ondo State, Mr. Lucky Orimisan Aiyedatiwa (our client) on whose behalf we write this letter on the above subject matter.

"We refer to our letter dated September 25, 2023 written to My Lord on this matter, regarding the suit filed by our Client before the

High Court, Akure in respect of the unlawful attempts of the Ondo State House of Assembly to conduct proceedings for his removal from office.

"The court processes in the said Suit No. AK/348/2023 have now been duly served on My Lord and all the defendants in the said suit, including the House of Assembly.

"We will like to draw the attention

of My Lord to the following undisputed facts: On September 25, 2023, our Client filed a Motion on Notice for various orders of interlocutory injunction against his planned removal from office by the Ondo State House of Assembly. The said application has been served on ALL the defendants in the suit, including the House of Assembly. Realising that our Client had filed

a suit before the Akure High Court, the Ondo State House of Assembly claimed to have served a Notice of acts of gross misconduct on some persons different from our Client in the late afternoon of September 25, 2023, after Suit No. AK/348/2023 had been filed, against the said removal proceedings. The said notice is required by law to be served on our client personally,

for it to be effective.

"On September 26, 2023, our Client filed a Motion on Notice before the Akure High Court, for an order to stay further proceedings on the said Notice by the Ondo State House of Assembly and indeed all the defendants in Suit No. AK/248/2023 supra. The said application has been served on all the defendants in the suit.

Senator Wants Olubadan's Children Prosecuted for Defamation, Cyberstalking

Kemi Olaitan in Ibadan

The domestic crisis rocking the family of the Olubadan of Ibadanland, Oba Lekan Balogun, took another twist yesterday, as the younger brother of the monarch, Senator Kola Balogun, called for the prosecution of two children of the traditional ruler for alleged cyberstalking and criminal defamation of character.

The former federal lawmaker, who represented Oyo South Senatorial District in the ninth Senate made the allegation in a petition to the Oyo State Commissioner of Police.

The petition, dated 5 October, 2023 and titled: “Petition of Cyberstalking

and Criminal Defamation Against Femi Balogun and Yinka Balogun”, was written by counsel to Senator Balogun, Lateef Raheem Esq.

The first son of the Olubadan, Aremo Femi Balogun, had in a letter made public earlier in the week, requested that all funds and assets belonging to the Olubadan, allegedly under the care of Senator Balogun, be produced within seven days.

The letter, dated 29 September, 2023, was addressed to the former lawmaker, while Sectional Heads of the Alliwo Family, the state Commissioner of Police, and the Ag. Commander, Economic and Financial Crimes Commission (EFCC), Ibadan

Zonal Command, were also copied. But in his reaction, the Olubadan had threatened to disown any of his children and wives found promoting such allegations against his younger brother.

However, one of the children, Yinka Balogun, while speaking with journalists, insisted that the former lawmaker was sitting on their father’s property and monies.

Thus, Senator Balogun, while breaking his silence on the allegations, stated in the petition that he was never in charge of the property and funds of the Olubadan, and that he had been running errands for the traditional ruler and also using his

TINUBU VIOLATED THE GRUNDNORM OF NIGERIA’S ELECTORAL LAWS, SAYS ATIKU

should reflect that."

The former vice president explained how his businesses were unjustly revoked by former President Muhammadu Buhari. He added that he had relinquished all his interest in Intel Logistics and, "I don't do any government contract any longer.”

He explained further, "As you must have read in many places, I was the founder of one of the biggest logistics companies since the military era, and as soon as Buhari came, even though we had licenses and we had nothing to do with government. We are just contractors to the oil companies.

"As soon as Buhari came, all those contracts were revoked and taken away from us till today, so I am not doing any government business.

"Yes, I am in other businesses –agriculture, manufacturing and so and so forth. So, I am not scared of any business being taken away from me, it has already been taken away from me since the Buhari administration. They took it and distributed out among themselves.”

Asked if he was under pressure, he said, “Not really. Yes, immediately after the election, I was told there was a delegation of governors, who claimed they were sent by the president, but I did not allow them

to get into my house. I did not.”

Speaking on when he might likely drop the fight with Tinubu, he said, "I will only drop the fight when the court rules, if the court rules that I am right, if the court rules that he is right, that is the end of the fight. At the moment, we are at the Supreme Court and there is no any higher court than the Supreme Court.”

Kalu: What CSU Said of Tinubu Documents

One of Atiku Abubakar's lawyers, Mr. Kalu Kalu, yesterday, gave more insight into the technical aspects of the documents deposited to by Chicago State University (CSU) on President Bola Tinubu’s academic records.

When called upon by Atiku to present the technical aspects of the CSU documents, he said, "On the certificate issue, Tinubu forged the certificate he presented to INEC.

"The qualifying certificate to CSU bears a female, meaning it does not belong to President Tinubu. The certificate is of a black American and it, therefore, means that it is of a dual citizen of United States and Nigeria

"The certificate bears a claim that he attended a Lagos government college and graduated in 1970,

when the school started or was established in 1974. The owner of the certificate is black American. The A in certificate says it’s Ahmed and the A he submitted to INEC with NYSC bears Adekunle."

On whether the Supreme Court would accept fresh evidence before it, Kalu said, "The Supreme Court allows fresh evidence, as it is part of the Supreme Court rule. As we speak, it is clear that the Supreme Court rules say that you cannot enjoy the fruit of illegality."

Chieftains of the party at the press conference included former National Chairmen of PDP, Uche Secondus, Dr. Iyorchia Ayu, former Senate president, Dr. Bukola Saraki, and Chief Tom Ikimi.

APC to Atiku: Your Desperation Unbecoming of a Statesman

APC described as unbecoming of a statesman, who once occupied the second highest office in the land, the desperation of Atiku.

National Publicity Secretary of APC, Felix Morka, in a statement, said Atiku had thrown every decency, decorum, dignity and national respectability out of the window. Morka alleged that Atiku went

on a purposeless judicial voyage of discovery to the United States in search of a magic wand for taking power against the will of the Nigerian electorate expressed in last February’s presidential election.

The ruling party said it was unfazed by the press conference addressed by the former vice president.

"The press conference lacked purpose and delivered nothing except the pitiful regurgitation of lies, mindless distortions and deliberate falsehood on his infantile obsession with the academic record of Bola Ahmed Tinubu, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria,” the statement said.

It stated, "For several weeks now, Nigerians and the world have watched with incredulity Alhaji Atiku Abubakar’s display of utter desperation in his failed bid to become the president of Nigeria.

"Earlier today (Thursday), he put his desperation in overdrive during his press conference, where he addressed some of the issues in his appeal at the Supreme Court, bandying unproven charges against the president of Nigeria, His Excellency Bola Ahmed Tinubu, in a calculated attempt to shamelessly

whip up public sentiments and inordinately pressure the Supreme Court."

Morka said the ruling party believed Atiku should have known better than to demonstrate gross contempt of the highest court by making public comments on a matter he had submitted to the court for adjudication.

He maintained that it was obvious that Atiku harboured deep animosity towards Tinubu whom he believed was responsible for his electoral woes in 2007, 2015, 2019 and this year.

APC said in the statement, "In desperation, unbecoming of a statesman who once occupied the second highest office in the land, the PDP candidate in the last election has thrown every decency, decorum, dignity and national respectability out the window on his purposeless judicial voyage of discovery to the United States in search of a magic wand for taking power against the will of the Nigerian electorate loudly expressed in last February’s presidential election."

The party's spokesperson stressed that Atiku held the unenviable title of Nigeria's most prolific election loser and longest running presidential candidate in history, saying APC sees his recent US fishing expedition as the last kick of a roundly rejected

own personal funds for his wellbeing. He said he was paying back the Olubadan for his past good deeds to him, having taken good care of his (Senator Balogun) childhood, just like their biological father would have done.

The petition read: “We are solicitors to Senator Kola Balogun who is hereinafter referred to as our client and on his behalf and instruction we write this letter to you.

“It is our client instructions that, on the 29th September, 2023, he checked Alliwo Family whatsapp group and he discovered a letter signed by Femi Balogun (a member of the family) posted on the whatsApp group.

presidential aspirant.

Labour Party Welcomes

Atiku’s Invitation to Obi

Labour Party (LP), yesterday, welcomed Atiku Abubakar’s invitation, extended to Mr. Peter Obi and others, to join the struggle to enthrone justice in Nigeria

A statement by National Publicity Secretary of LP, Obiora Ifoh, said, "We, therefore, welcome every other interest willing to join us in our pursuit of a nation where justice shall reign."

Ifoh said the LP presidential candidate, Obi, was currently at the Supreme Court seeking to reclaim his stolen mandate and was focused on that.

He stated regarding Obi"He has been in the vanguard of ensuring a just nation, where justice must be the watchword, and he will not stop until Nigeria achieves a leadership it truly deserves.

"Obi has pontificated severally on the need for leaders to be good role models and to live a life worthy of emulation. This he has done by publicly putting his credentials in the open for verification.

“Nigeria will get better when men of integrity and honour drive the affairs of the nation."

UNIVERSITY OF IBADAN FANICE ACTIVATION TOUR…

L-R: Chief Executive Officer (CEO), 1S43 Brand Associates, Goodman Shodeinde; popular influencer and celebrity, Agbola Babatumise; Sales Manager, Fan Milk, Ibadan, Segun Oyetola, and Student Union President, University of Ibadan, Samuel Tobiloba, at the press conference to unveil the FanIce Campus Activation Tour at the University of Ibadan… yesterday

Varsity Students Abduction: Senate Summons IG, Others

Sunday Aborisade inAbuja

The Senate yesterday passed a resolution to summon the Inspector General (IG) of Police, Mr. Kayode Egbetokun and heads of other security agencies in the country over the rising abduction of university students in different parts of the country.

This followed a motion by Senator Abdulaziz Musa Yar’Adua (Katsina Central) during plenary. He drew the attention of his

colleagues to the kidnapping of five female students of the Federal University in Dutsinma (FUDMA), Katsina in the early hours of Wednesday.

The attack happened 12 days after bandits, in their large number, forced their way into three hostels of the Federal University Gusau, Zamfara State.

They abducted 24 students but 16 of them were freed three days later security agencies stormed the place the rescue conducted

Residents Flee as Ilobu/Ifonorolu Crisis Deepens in Osun

Yinka Kolawole in Osogbo

Four policemen were reportedly injured by a mob in the ongoing communal crisis between Ilobu and Ifon-Orolu communities in Osun State.

There has been a prolonged battle between the two communities over land dispute which had in the past claimed lives and property.

Few weeks ago, leaders of Ifon-Orolu raised alarm over a visit to some parts of the dispute

land by a retired soldier whose delegation was led by the people of Ilobu who were alleged to be planning to site a project on the land.

The crisis took a dangerous dimension on Wednesday when one person was reportedly killed and several others were injured just as many houses and property were burnt.

This occasioned the review of the curfew earlier imposed by the state government to forestall escalation of the crisis.

Mohbad: Prime Boy Turns Self In, Denies Police Invitation

Rebecca Ejifoma

Barely 24 hours after a N1 million bounty was placed on his head, Owodunni Ibrahim (aka Prime Boy), turned himself in yesterday over the death of the late singer, Mr. Ilerioluwa Aloba, (aka Mohbad).

Prime Boy, however, categorically denied ever being sent a police invitation as the police had initially claimed on Wednesday.

The police statement had read in part: “The police declared him

wanted after he failed to honour their invitation he was sent since the investigation started to unravel what led to the death of Ilerioluwa Aloba, aka Mohbad.”

But Prime Boy countered this allegation, insisting “that is a big lie. Why would I see a message from the police and not answer? The police never invited me.

“I wanted to go and explain myself because people started accusing me. People I called told me to chill until I got an invitation.”

Group Promotes Income Diversification through Agric

As part of its goals to promote numerous opportunities inherent in the agricultural sector to Nigerians, the United Nations Private Sector Advisory Group (PSAG) Nigeria Cluster Five, is organising the third edition of the annual Business of Agriculture e-learning master class series.

The Business of Agriculture Masterclass 3.0 seeks to disseminate agribusiness opportunities through seasoned professionals and industry experts to Nigerians interested in establishing agribusiness enterprises, investing in agriculture, and having multiple

by security agencies.

On Monday, August 21, 2023, eight corps members were also kidnapped by suspected terrorists on their way to camp in Zamfara State.

Senator Yar’Adua said the

kidnap incidents have thrown the university and academic communities into a panic mood.

The lawmaker expressed concern that the frequency of kidnapping for ransom has become almost a daily and weekly occurrence in

major towns and communities in the North West geopolitical zone.

Worried by the increasing rate of student abduction, the Senate resolved to fix a date to invite the security chiefs to address the lawmakers on the abduction of

students and efforts to curb the menace.

It also urged the various security agencies in Nigeria to be more proactive and ensure these kidnapped Students are all released without delay.

Sex Scandal: ICPC, DSS Arrest UNICAL Prof. after Refusal to Honour Invitation

Kingsley Nwezeh in Abuja

The Department of State Security (DSS) yesterday said it collaborated with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to effect the arrest of Professor Cyril Ndifon, who was

involved in the sex scandal that rocked the University of Calabar. A statement issued by the Spokesman of the DSS, Peter Afunanya, said the academic was arrested based on a court order after he refused to honour several invitation letters from the ICPC.

“The ICPC has sought the collaboration of the Department of State Services (DSS) on the University of Calabar (UNICAL) sex scandal matter involving Professor Cyril Ndifon, the erstwhile Dean of Faculty of Law of the Institution. The commission had disclosed the

refusal of Ndifon to honour its several invitations thus his eventual arrest in Calabar, Cross River State by its operatives on 4th of October, 2023 based on a court order,” he said. The DSS said the agency provided support for ICPC following a request in that regard.

Wike Inches Closer to Joining APC as Loyalists Storm Party

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, might be inching closer to joining the ruling All Progressives Congress (APC) following a meeting between his loyalists within APC and the National Working Committee

(NWC) of the party led by Dr. Abdulahi Ganduje.

Recently the media was awash with reports that Wike would soon join APC.

Nevertheless, the news of Wike’s impending arrival did not go down well with the faction of the party loyal to a former Governor of Rivers

State and the immediate past Minister of Transportation, Hon. Rotimi Amaechi, who immediately kicked against it.

However, the ruling party recently included the name of Wike in the campaign council for the Bayelsa state governorship election slated for November 11,

which further gave credence to his planned defection to the ruling party. Alhough the party later retracted. But the meeting between the leadership of APC Rivers State and the NWC was held at the national secretariat yesterday in Abuja.

Katsina SUBEB Threatens to Sack Erring Teachers, Warns against Absenteeism

The Katsina State Universal Basic Education Board (SUBEB) has threatened to sack primary school teachers who failed to add value to the educational development and observe all extant rules and regulations in

the state.

The board also warned the primary school teachers across 34 local government areas of the state against lateness and absenteeism.

The Executive Chairman of the Board, Dr. Kabir Magaji, gave the warnings while

addressing teachers and parents at a town-hall meeting organised by UNICEF in Baure.

Magaji, who frowned on the attitude of some teachers especially those in rural areas, urged them to take their job seriously or face severe consequences by the state

government.

Represented by Permanent Member 1 of the Board, Dr. Ibrahim Isyaka, the SUBEB boss said the era of lateness and absenteeism is over as anyone found wanting would be severely dealt with in accordance with the law.

Edo 2024: Former NBA President, Olumide Akpata, Declares Guber Ambition

Adibe EmenyonuinBeninCity

The immediate past President of Nigeria Bar Association (NBA), Mr. Olumide Akpata, yesterday in Benin City, capital of Edo State, formally declared his intention to contest the state governorship election slated

for September 21, 2024 under the platform of Labour Party (LP).

Akpata, who made the declaration at the LP Secretariat said he decided to step into the gubernatorial ring because of his interest in people’s welfare.

The LP aspirant also stated that

his decision to aspire for the number one seat of the state on the platform of the party was because it is the only party that is people-oriented.

The lawyer turned politician, who lamented that the people have been taken out of the equation in governance and politics, added that

if given the opportunity to fly the flag of LP in the forthcoming election, he will change the narrative.

He said: “My interest is for the people of Edo State. And what I find out in politics and governance in Nigeria today is that the people have been taken out of the equation.

APC Chieftain Admonishes on Coordinated Campaigns, Inclusion

Ibrahim Oyewale in Lokoja

streams of income.

The Masterclass would hold virtually between Tuesday, October 10, 2023, and Thursday, October 12, 2023, from 9 a.m. daily.

The agriculture sector remained one of the key players in the Nigerian economy and the largest employer of labour in the country.

According to a former Minister of Agriculture and Rural Development, as at February 2023, agriculture accounted for 23.78 per cent of Nigeria’s Gross Domestic Product (GDP) almost four times higher than the contribution of the oil sector to the GDP.

Ahead of the November 2023 governorship election in Kogi State, the former Commissioner for Information and a Chieftain All Progressive Congress (APC), Hon. Tom Ohikere has urged the leadership of the political

party to ensure coordinated and inclusivity that are devoid of disjointed campaigns.

Ohikere made this call while speaking in a chat with journalists in Lokoja yesterday stating that APC must stand well-positioned to win the forthcoming election in the state.

Ohikere explained that the recently inaugurated governorship election campaign council would correct noticeable anomalies associated with the campaign.

He insisted that the chances of supposed opposition candidates like Hon. Leke Abejide of the

African Democratic Congress (ADC) and Mr. Murtala Yakubu Ajaka, of the SDP stand at pole post position to compete with their APC counterparts given their backgrounds as APC founding members who were forced to contest on other party platforms.

Stakeholders Laud Tinubu, Akpabio for Confirming New NDDC Board

Olusegun Samuel in Yenagoa

The Niger Delta stakeholders have applauded the efforts of President Bola Tinubu and the Senate President, Senator Godswill Akpabio, over the successful screening and

confirmation of the new Niger Delta Development Commission (NDDC) substantive governing board.

The stakeholders described the decision of President Tinubu and Senator Godswill Akpabio to speed up the processes of

nomination, screening and confirmation as a demonstration of the present administration’s willingness and commitment in the development of the Niger Delta region.

The stakeholders, made up of traditional rulers, youth leaders

and civil society groups, urged the new substantive governing board to aim at providing the needed checks and balances and encouraged the management team to work in the interest of the people and the region.

Francis Sardauna in Katsina

Adedayo Akinwale inAbuja

Army Denies Forceful Invasion of Rivers Community

Blessing IbungeinPortHarcourt

The Nigerian Army has denied forceful invasion of Rumuekpe community in Emohua Local Government Area of Rivers State. The alleged attack on community people was said to have followed their protest against exclusion from oil pipeline surveillance contracts awarded by oil companies and NNPC Ltd.

Members of the community, under the aegis of Association of Niger Delta Upland Communities, in the last 16 days have barricaded the entrance leading to facilities operated by the Shell Petroleum Development Company of Nigeria

Limited, TotalEnergies EP Nigeria Limited, Niger Delta Petroleum Resources, Nigerian Agip Oil Company and NNPC Ltd, and other oil firms.

The protesters made of elderly men, women and youths had barricaded the access road leading to oil and gas facilities in the area with canopies and chairs, singing, cooking, dancing and eating at the protest venue day and night in the last two weeks.

They demanded to take part in securing oil and gas pipelines in the state, while criticising the NNPC Ltd for awarding pipeline surveillance jobs only to selected few without considering inclusion

of the Rumuekpe people.

President of the Niger Delta Upland Communities, Mr. Isa Mohammed Obiri, said the people in upland communities were not happy that they were not taken into consideration in the award of pipeline surveillance jobs, adding that it was wrong for selected few to be given the surveillance contract.

Obiri said despite the exclusion of the community from the surveillance contract, the community have suffered neglect from the government and multinational, stressing that the community lacks pipe borne water, good road, electricity, school, health centers, others.

‘Nigeria Has Highest Maternal Mortality Rate in the World’

Segun James

As more women reportedly die from pregnancy-related illnesses in Nigeria more than any other country in the world, a non-governmental organisation, Maternal and Reproductive Health Research Collective (MRHRC), has expressed dismay over the high mortality rate, saying with an annual 62,000 deaths, the trend must change.

The Founder of MRHRC, Prof Abosede Afolabi, who disclosed the plan to embarked on a month-long

crusade tagged: ‘#WeMenForHer Movement’, said it will encompass a spectrum of activities designed to galvanise awareness and inspire solutions to Nigeria’s escalating maternal health crisis, which will commence in Lagos.

The founder, who is a renowned gynecologist, made this known virtually yesterday at a press conference held at GRA, Ikeja, Lagos, lamenting the high mortality recorded nationwide concerning pregnant women as a result of poor access to quality health services, especially in rural communities.

According to the group, the movement’s core objective is to champion the MamaBase project, a visionary intervention designed to safeguard and empower expectant mothers throughout their maternal journey, disclosing that “a dedicated corps of community health workers would be deployed to provide unwavering support to pregnant women within their communities, ensuring that they receive essential antenatal care and give birth under the watchful eye of skilled healthcare providers.

Niger Revokes Waste Management Contract

Laleye DipoinMinna

Niger State Government has terminated the waste management contract entered into with a foreign company by the administration of former state Governor, Alhaji Abubakar Sani Bello.

The government did not give reason for the termination of the contract, but said the state executive council approved the action and directed that a new agreement should be reached with another firm.

The state Commissioner for Environment and Climate Change, Mr. Yakubu Kolo, told journalists after the State Executive Council meeting held at the Government

CHANGE OF NAME

I formerly known and addressed as MISS OGEDENGBE FAITH OMOLEGHO, now wish to be known as and addressed as MRS EGBON FAITH OMOLEGHO. All documents bearing my former names still remain valid. The general public should take note.

I formerly known and addressed as IWUEZE OLIVIA NWANYIAKA, now wish to be known as and addressed as NWACHUKWU OLIVIA NWANYIAKA. All documents bearing my former names still remain valid. Union Bank Access Bank and the general public should take note.

I, formally known and addressed as NGOZI STELLA OKONKWO ADIGWE , now wish to be known and addressed as NGOZI STELLA NWANZE . All previous documents remain valid. The general public should please take note.

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I formerly known and addressed as MISS. NWAEDOZIE VERONICA TOBECHUKWU, now wish to be known and addressed as MRS. ODIKA VERONICA TOBECHUKWU. All former documents remain valid. The general public, please take note.

House that under the new contract, a refuse recycling plant will be established in the state capital, adding that refuse dump sites will also be established in major cities across the state.

Kolo, who was represented by the Permanent Secretary in the Ministry, Mr. Sirajo Saieed, disclosed that a census of cleaners in the employment of the state

government is being taken with a view to knowing their number and improve their salaries and other conditions of service.

He said the state government has also taken steps to check deforestation across the state, adding that some illegal loggers have also been arrested, prosecuted and a fine of N5million paid to the government purse.

Nigerians Advised on Teamwork for Progress

Becky UbaUmenyili

As Nigeria marked its 63rd independence anniversary recently, a call has been made to all on the need to improve the lives of the citizenry by embracing teamwork in all endeavours in so as to alleviate poverty, foster unity and progress in the country.

The call came during the Catechetical Week lecture organised by the National Association of Directors of Religious Education (NADRE), of the Catholic Church.

Speaking, the Chairman of NADRE, Rev. Fr. Albert Ebosele, observed that the plethora of challenges in the country can be tackled through teamwork of “interdependent individuals for set targets and a common goal to proactively

manage challenging situations as well as liberate everyone from the bondage of injustice.”

He noted that positive action and goal-oriented attitude would improve community and nationbuilding and encourages all Nigerians to learn to work together and support one another in order to bring about progress .

He ,however, cautioned that the challenges of teamwork which include: selfishness, cultural bias, greed, corruption, internet addiction, terrorism and insecurity as well as insincere religiosity, would likely plague efforts in building the nation .

He therefore, called for sincere change of attitude from selfaggrandisement to collaborative efforts in common good.

Lagos ISACA to Hold Webinar on Cybersecurity

The Information Systems Audit and Control Association (ISACA), Lagos State chapter will organise a health walk and webinar on October 7, 2023, in commemoration of its annual Community Day and Cybersecurity Awareness Month.

According to the President of the chapter, Mr. Tokunbo Taiwo, this year’s programme which is tagged: ‘Cyber Hygiene’, will hold at Lekki Phase 1 in Lagos, and is expected to commence at 6.45 a.m.

Taiwo said the 5km walk would be aimed at creating awareness on cyber hygiene, promoting fitness and networking among members.

He added that the free webinar

on the topic: ‘Internet safety and security for young people’, is targeted at parents, teachers and young people, and is to start by 4 p.m. on the same day with the Special Assistant to the Ogun State Governor on Youths and Sports, Mr. Olamide Lawal, to give the opening address.

ISACA was founded in 1969 as a global non-profit association with headquarters in Chicago, United States of America (USA). It has over 170,000 professionals as members across the world, consisting of innovators and thought leaders in IS/IT Governance, Audit, Security, Risk, and Data Privacy in over 180 countries.

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Communicating with Allah (III) WORLD OF ISLAM

By: Spahic Omer/IslamiCity

Prophets’ calling to communication with Allah

Owing to this importance of communication with Allah, each and every prophet’s mission paid special attention to it. Communicating with Allah was seen as a logical, plausible and natural process, for Allah is a Personality (Huwa or He) -- not a mere abstract conception of philosophy -- with a Nature of His so sublime that it is far beyond our limited conceptions; He exists, but in such a way that He is the Ever-Living, Self-Sustaining; He created and sustains the world; and He sent prophets to mend people’s ways and create for them suitable communication patterns with their Creator and Master.

For example, when Prophet Ibrahim (Abraham) confronted his unbelieving and rebellious people, he among other things tried to bring home to them the inappropriateness and danger of polytheism. His focus was the delusion, futility, uselessness and unresponsiveness of their home-grown idols and deities. They simply could not communicate in any way, nor could they benefit or harm anybody. They were but a fragment of dead matter to which only mentally incapacitated and spiritually dead individuals could be devotedly attached: “Deaf, dumb and blind -- so they will not return (to the right path)” (al-Baqarah, v.18).

Ibrahim said to his father, an idol-maker: “O my father! Why do you worship something that can neither hear, nor see, nor yet profit you in any way?” (Maryam, v.42).

This is a segment of Ibrahim’s discussion with his polytheistic people: “Ibrahim, are you he who has done this to our gods?” He answered: “Rather it was this supreme one who has done it. So ask them, if they can speak.” Thereupon they turned to their (inner) selves and said (to themselves): “Surely it is you who are the wrong doers.” Then their minds were turned upside down, and they said: “You know well that they do not speak.” Ibrahim said: “Do you, then, worship beside Allah a thing that can neither benefit you nor hurt you? Fie upon you and upon all that you worship beside Allah. Do you have no sense?” (al-Anbiya’, v.62-67).

Ibrahim also said to his people concerning their fraudulent gods and their inability to communicate: “Do they listen to you when you call (on them)? Or do they profit you or cause you harm?” (al-Shu’ara’, v.72-73).

And about Allah, his Almighty Creator and Lord -- with Whom Prophet Ibrahim enjoyed such a close relationship that Allah said that He took him for a friend (khalil) (al-Nisa’, v.125) – Ibrahim said that it was He: “Who created me, and it is He Who guides me; Who gives me food and drink, and when I am ill, it is He Who cures me; Who will cause me to die, and then will bring me back to life; and Who, I hope, will forgive me my faults on the Day of Judgment” (al-Shu’ara’, v.78-82).

Why can’t we see Allah?

One may ask why we cannot see Allah, although we can communicate with Him so closely.

In a nutshell, we cannot see Allah because, first, there is nothing like Him (al-Shura, v.11). Our eyes, and other senses and faculties, are things and thus, can only see other things belonging to the corresponding existential realms. They cannot see, hear or recognize beyond the orb of our everyday existential things and objects.

Second, nobody says that humans will not see Allah. Both the Holy Qur’an and the Prophet’s sunnah are explicit that believers will see Him in Paradise (jannah). The vision will be as clear and certain as seeing “the moon on the night when it is full” and “the sun on a cloudless day” (Sahih al-Bukhari).

What is more, seeing Allah will be the best reward in Paradise; whereas not seeing Him will be the worst and most painful chastisement for the inhabitants of Hell. Seeing Allah is the greatest blessing and joy, so it is withheld for the place of ultimate blessing and joy, namely Paradise, and it is reserved exclusively for believers. This, in addition, serves to believers as a strong motive to continue doing good in this world and never get bored or give up.

It goes without saying that not seeing Allah is only a temporary decree for Allah’s true servants, who are closest to Him in this world. Seeing Allah in Paradise could also imply the pinnacle, or culmination, of their incessant drawing closer to Him.

Third, we cannot see Allah now and here because we are trapped in time and space, while He is beyond them. Time and space are Allah’s creation. He is not fettered by them; we are. Consequently, man cannot think except along the lines of time, space and matter. Once the hindrances posed by the time and space factors

of this world are eliminated in the Hereafter -- or modulated, together with man himself and his various faculties, so as to make them suitable and fitting for the conditions of the Hereafter – seeing Allah will appear utterly viable and sensible, especially for those who will be Paradise-bound. Even in this world, man can see instantly and directly very little and a very few things. Man is myopic or short-sighted, so to speak. He cannot see more because of a myriad of time and space factors and influences standing between him and things, incapacitating him from seeing more. To see more, man must overcome, or eliminate, those factors and influences. The problem, therefore, is not with things and objects, but with man and his limited abilities.

For example, a person sitting in a windowless room can only see the room’s interior. To see outside, he must leave the room; that is to say, he must overcome the room as a hindrance to seeing outside. Moreover, to see a friend in a nearby town, 50 km away, the man must travel that much; that is, he must overcome the hindrance of the necessary distance and time that separate him from seeing the friend. The same principle applies to seeing everything else that lies outside the parameters of the windowless room.

Similarly, for a person to see his friend who passed away two years ago, he will have to travel back in time two years or more; that is to say, he will have to deal with the unsurmountable time hurdle, or barrier, in order to see his friend. Also, for a person to see his future grandchildren, he will have to travel into the future as much as necessary; that is, he will again have to contend with the unassailable time difficulty.

At any rate, to see and experience things, man must free himself from the physical milieus and situations wherein he, as substantially a physical being himself, is confined or imprisoned.

The whole issue is about man and his weaknesses, exacerbated by the spatial and temporal parameters and constraints within which he operates. Yet, there are many other things right inside man, or everywhere around him, which man cannot see, but which undeniably exist. Some of those things are radio waves as a type of electronic wave used to transmit data for satellites, computer networks and radio, atoms as the smallest building blocks of matter, air or oxygen, ultraviolet light, gravity, the mind, the soul, emotions, quantum particles, the actual size of the universe, etc.

Anyway, it makes sense to wish, yet ask, to see existing things and objects. But a code of ethics, as well as a dose of pragmatism and common sense, are needed. Man must realize that, just like in everything else, there are certain physical, rational, ethical and spiritual rules, regulations and procedures that preside over the prospect of seeing things. For man -- insignificant, weak and vulnerable as he is -- to insist on seeing Almighty Allah, Who is the only truly Transcendent Being, the Exalted, Sublime, Ever-Living and Self-Sustaining, while he is imprisoned and stuck in the yokes of matter, is at once an ignorant, arrogant and preposterous pretence.

When Allah spoke to Prophet Musa (Moses) on Mount Sinai, Musa at one point said: “O my Lord! Show (Yourself) to me that I may look upon You.”

Musa asked to see Allah because, as a prophet, he knew that seeing Allah is not impossible, nor that wishing, or even humbly asking, to see Him in extraordinary situations such as the one in which Musa had found himself, is blasphemous.

When Allah replied that Musa neither will, nor could, see Him, He meant that in the context of this world only – as is the view of all mainstream exegesis (mufassir).

And when Allah said to Musa after that: “Behold this mountain: if it remains firm in its place, then -- only then -- will you see Me”, Allah wanted to bring home to Musa his existing human weaknesses, as well as the impediments and hurdles of time and space, which will need to be overcome, or liquidated, if he was to see Almighty Allah. Allah wanted to communicate to Musa that he was not ready to see Him, nor had the time come for such an event to take place.

At last: “When his Lord manifested His glory on the mount, He made it as dust and Musa fell down in a swoon. When he recovered his senses, he said: ‘Glory be to You! To You I turn in repentance and I am the first to believe’” (al-A’raf, v.143).

When Prophet Muhammad (pbuh) was asked if he had seen Allah on the night of Mi’raj (ascension into heaven), he replied: “(He is veiled by) Light, how could I see Him?” (Sahih Muslim).

Finally, Allah declares: “No vision can grasp Him, but His grasp is over all vision. He is above all comprehension yet is acquainted with all things” (al-An’am, v.103).

Quadri Aruna Joins the Saudi Arabia Bandwagon

Switches from German table tennis club to Khaleej

Duro Ikhazuagbe

Nigeria and Africa’s star table tennis player, Quadri Aruna, has joined the league of top sportsmen and women from around the world trooping to Saudi Arabia to cash out big pay day.

He switched from German club, TTC RhönSprudel Maberzell Fulda, to Saudi’s Khaleej for a mouth-watery fee not disclosed in the Making of Champions’ X handle on social media yesterday.

Khaleej is a multi-sports club based at Saihat in the Eastern Province of Saudi Arabia. It has football, handball, volleyball, basketball, tennis, gymnastics, athletics and table tennis clubs amongst other social and educational facilities.

The 35-year-old Nigerian ping pong player is currently ranked 16th in the world. He’s the first African player to be ranked 10th in the world, a feat he achieved in May, 2022. Deft at his forehand-oriented

Nigeria Women’s Football League Gets November 15 Kickoff Date

The organisers of the Nigeria Women Football League (NWFL) have announced the official kickoff date for the 2023/2024 season.

The league body held its Annual General Meeting in Lagos yesterday and announced November 15 as the kick-off date of the league.

They also confirmed the promotion of Ekiti Queens and Sunshine Queens to the elite division.

Sixteen teams will now play in the league and they have been divided into two groups of 8 teams each.

At a well-attended event in Lagos, the Chairman of NWFL, Nkechi Obi, noted that “the task of delivering monumental growth of the leagues by the new board

requires strategic thinking to ensure the full commercialization of the league, the development of frame works to increase the number of girls playing football and a clear guaranteed pathway for young talented girls to become professional footballers,” she stated.

With the take-off date set for next month, Group A teams include; Nasarawa Amazons, Heartland Queens, Confluence Queens, Adamawa Queens, Dannaz Ladies, Naija Ratels, Royal Queens and Abia Angels

The clubs in Group B are; Remo Stars, Rivers Angels, Sunshine Queens, Robo Queens, Edo Queens, Bayelsa Queens, Ekiti Queens and Delta Queens

First Bank’s Elephant Girls Walk Tightropes, Lose Again to MFM

It was another bad day in the office for First Bank Women's Basketball Team, the Elephant Girls, after suffering their second loss of the ongoing Second Phase of the Atlantic Conference of the Zenith Bank Women's Basketball League currently taking place in Asaba, Delta State.

After going through the First Phase without a loss and starting the Second Phase with a win against IGP Queens, First bank were surprisingly defeated by Sunshine Angels in their second game.

MFM, who were the runners up of the last edition, yesterday added salt to First Bank's injury as they inflicted another loss of 40-35 margin to boost their own

chances of qualifying for the finals in Lagos later in the month.

Bayelsa Whales at the moment are topping the conference after making it three wins from three games played and will be up against MFM who also, recorded three wins in the Second Phase of the conference.

Today, First Bank will be up against already eliminated Dolphins while it will be another battle between Sunshine Angels and IGP Queens.

The two top teams from the Atlantic Conference will join Nigeria Customs and Air Warriors from the Savannah Conference in the finals in Lagos later in the month.

1XBET Tourney: Soccer Touch Bounce Back with Win

Fackson maintains top spot in Group A

Soccer Touch FC bounced back from their opening day loss to Fackson FC to claim the scalps of Cheche Stars 3-0 in the opening match of Day-4 of the 1XBET Cup Football Tournament.

Playing in Group A, Soccer Touch who were desperate for a win had the better chances in the game while thwarting the efforts of their opponents in the keenly-contested tie.

Adewale Lateef scored the opening goal in the 19th minute, while John Joshua and Joseph Ukeagu added to the tally in the

playing style, Aruna is a Gewosponsored player.

Aruna who was named 2014 Star Player by the International Table Tennis Federation (ITTF), reached the quarter finals of the Men’s Singles of the World Cup that year.

In 2017, he was a semi finalist, losing a very tight match to eventual winner, Dimitrij Ovtcharov. He won silver medal for Nigeria at the 2018 Commonwealth Games in Gold Coast, Australia.

He has represented Nigeria in

three Olympic Games in 2012, 2016 and 2020 amongst several other global competitions.

Aruna is following the path of one of the best table tennis players to come out of Nigeria and Africa, Atanda Musa, who moved to Saudi Arabia in the twilight of his career to coach.

Although still too early to think of coaching career for Aruna, the kind of cash Saudi sports authorities are paying out to top sports men and women, appears enough to live on for

rest of their lives.

Odion Ighalo shocked several Nigerians when he moved to the Middle East nation at the end of his loan spell at Manchester United. Same with retiring Super Eagles Captain, Ahmed Musa.

Only recently, speculations were rife in the sporting press that Victor Osimhen was being tempted to switch to the Saudi Pro League on a monthly £1million, tax free offer on the table. Napoli rejected offer of €130 million tabled by Saudi’s Al Hilal.

BROTHERS UNITED BY EUROPA LEAGUE...

Thursday night’s Europa League clash between hosts Liverpool and Belgium’s Union St. Gilloise FC, was not just a match packed with memorable moments but the game will live long in the memory of the Mac Allister family. Liverpool midfielder Alexis (right) came on at half-time, which meant he faced his brother Kevin, who started the match as a defender for Union SG, for the first time in his career. While Alexis claims the bragging rights with Liverpool's 2-0 win, it was a good performance by Kevin as he helped frustrate the hosts for long periods.

RESULTS

Europa League

Freiburg 1-2 West Ham

B’Topola 2-2 Olympiacos

AEK Athens 1-1 Ajax

Marseille 2-2 Brighton

Limassol 2-1 Rangers

Real Betis 2-1 S’Prague

Czestochowa 0-1 S’Graz

Sporting 1-2 Atalanta

Liverpool 2-0 St. Gilloise

Toulouse 1-0 LASK

Villarreal 1-0 Rennes

Roma 4-0 FC Sheriff

Molde 1-2 Leverkusen

Nigeria’s Yellow Greens Brush Aside Rwanda, S’Leone, Take on Ghana Next

Nigeria's national men’s cricket team, the Yellow-Greens have won their opening two matches against Rwanda and Sierra Leone, at the ongoing West Africa Trophy at the Tafawa Balewa Square Cricket Oval in Lagos.

At the opening match, Nigeria, edged Rwanda with 57 runs in the 20 overs four-nation event.

Daniel Ajekun (28) and Captain, Sylvester Okpe (20) led the charge for Nigeria in the encounter that had them posting 127 runs for the loss of 8 wickets. The Rwandans were all out for 73 in 18.1 overs.

morning with both teams having unblemished score at the event so far.

Ghana’s Captain, George Edward Ngegba, said his team is looking forward to the encounter, and they know it would not be easy, but are mentally prepared for it.

“When we play Nigeria, It is a

big deal. We know how important it is, and we are very ready for the game.”

Rwanda and Sierra Leone will slug it out later on Friday afternoon.

Vice-President of Nigeria Cricket Federation, Wale Obalola, said that the event is a test of the Federation’s capacity for event management and

live broadcasting, which, so far has been very commendable, going by feedbacks.

“While the players compete for honours, we at NCF are very determined to leverage the opportunity presented here to grow our administrative capacity. It will also help our team develop requisite skills needed for the internationalisations we are positioning our cricket for,” he concluded.

30th and 45th minutes respectively.

In the other game, Fackson FC played a 1-1 draw with Capital Avalanche to maintain top spot in the group.

Expectedly, the game was tense and exciting. Capital Avalanche got the opening goal in the 14 minute from the boots of Oriyomi Levi.

Fackson came back into the second half, firing from all angles and eventually got the equaliser by Adewusi Habeeb in the 55th minute to maintain their top spot with 4 points from 2 games.

In the second match of the event, Ghana opted to field after winning the toss against Sierra Leone and limited them to 95 for the loss of nine wickets, a score they upturned in 17.2 over.

Nigeria, again returned on the second day to pick their second victory against Sierra Leone. The Yellow-Greens left 155 runs for the Sierra Leonians to defend. The ‘Saros’ were all out in 18.5 over with 92 runs. Suleiman Runsewe, put 79 runs on the board, which earned him Player of the Match award. Ghana also won their second match after a Super-over with Rwanda.

Nigeria will face Ghana this

60 Bayelsa State Villages for Lokpobiri Football Tournament

Not less than 60 Bayelsa villages are expected to participate in a football tournament powered by the Minister of State for Petroleum, Heineken Lokpobiri in Ekeremor Local Government Area of the state.

According to a statement from the Chairman of the Local Organising Committee, Meinkeme Fekete, the tournament is aimed to fish out hiding talents as well as to help ease the cultism and violence in the region by engaging the youths through sporting activities.

Fekete, a former coach of Bayelsa United, said the tournament is slated for November 25, 2023while the talents discovered at the tournament will play two friendly matches against the Flying Eagles in Abuja and the Cameroon U-20 in Yaounde.

“The aim of the tournament is to fish out hiding talents and to ease the cultism violence in the region by engaging the youths through sporting activities. This is the first football tournament since

the creation of Bayelsa State. After the tournament, 25 players will be picked to play two friendly matches against the Nigeria under 20 while the second match is at against the Cameroon under 20 team on the day Cameroon has chosen to honour Jossy Donbraye, the first player to score a goal at Cameron at the commissioning of the Ayije Stadium. Dombraye’s statue will be unveiled,” said the coach who claimed to have discovered the late Sam Okwaraji.

Aruna Quadri...joins the bandwagon to Saudi Arabia

NECA to President Tinubu

“The President’s address was full of intent, without definitive timelines for implementation...It is not enough for the Federal Government to dole out money in the name of palliatives to state governments, a more innovative, effective and traceable distribution and monitoring mechanisms should also be put in place to measure the impact and efficiency of the implemented schemes” –NECA D-G, Adewale-Smatt Oyerinde, tasks Tinubu on his Presidential plans.

OKEYANUEYIAGU

GUEST COLUMNIST

Naira, Going, Going, Gone...

Naira, our local currency has taken a huge tumble and a nose-dive that is unprecedented in the history of any monetary instrument. The naira over a protracted period of time has almost become a non-convertible currency. It has assumed the position of an unenviably worthless piece of paper suffering the vicissitudes of it’s own circumstances and redundant fate.

The change of fortune of the naira and its unwelcome and unpleasant pestilence did not begin today. It started way beyond the times that our common imaginations can ascertain. It started from the era when the men in khaki with zero clue on how to run an economy, seized the reigns of government, and down to the period when the same men, donning civilian clothes., babanriga and agbada, pretending to be democrats and bearing all the solutions to our problems, transitioned into politics. In these periods, the rapid fall of our currency began and never looked back.

I recall with nostalgia events that occured in the mid 1970s when I attended the University of Nigeria. Prior to our graduation, we the graduating students were interviewed on campus by prospective employers from the public services and the private sector. I was interviewed by the Central Bank, Customs and Immigration Services, the Foreign Ministries, and by companies like UAC, Lever Brothers, John Holt, Breweries and others. All these organizations were jostling for the bright students and dangling incentives to attract our attention and services. The top pay at that time was a monthly emolument of about N2,000. This was more than sufficient for a new entrant to the world of employment. This amount, at that time, was equal, if not more than US$4,000.

Upon graduation, I and other graduands were very anxiously holding on tightly to the admonition delivered at our Nsukka campus Convocation grounds by the former Nigeria’s President, Nnamdi Azikiwe. The great Zik in delivering his speech, after dwelling on the bright promises our country held for us, asked us to go ahead and see our country and the world as our Oyster, urging us to seize all the beautiful opportunities they had in stock for us. Azikiwe’s speech stayed on with me for a long time, but little did I know that the Oyster he talked about was very soon to turn into a deformed crab without any legs or claws.

After graduation, I was posted to the then peaceful and beautiful city of Jos in Plateau State to serve the one year compulsory National Youth Service assignment. After orientation, most of us were offered accommodation and our monthly allowance was N180. Out of this allowance we fed, clothed and transported ourselves to work daily. Looking back now, I must confess that this allowance was more than sufficient for us. We never complained, but lived a very decent life out of N180 per month. I belonged to a group of “bobos” who held weekly parties (we called it shindigs then). We would contribute N5 each to a common purse and we gathered enough funds to buy a goat (N10), Chickens (N1 each), some beer (10k per bottle), and other requirements to host a decent party with very little funds. Our naira had value, and was as strong, if not stronger than many other currencies.

When I began a journey to the United States of America for graduate studies, my first port of entry was the JFK airport in New York City. My ticket on board the brand new Nigeria Airways Boeing 747 piloted by the legendary pilot Captain Allwell Brown, was N300. Upon arrival at the airport, I visited a money changing kiosk and handed over N400 to the cashier who in exchange gave me about $600. Today, if I attempted to exchange the naira currency at this airport or any other parts of the world, not

only will this currency not be recognized or accepted, one may risk being detained or arrested for passing off a strange Instrument of payment. In less than 50 years, the naira has lost its glory, and has become as worthless as the paper on which it is printed.

Nigeria’s exclusion from the global currency ranking should not come to anyone as a surprise, given that the country has ascended to one of the world’s poorest and undeveloped nations. The lack of respect that the naira commands amongst many, if not most other legal tenders, is a long festering indication of the economic disaster plaguing the country over many decades. Eventhough the Nigerian economy is supposedly the largest within the continent of Africa, a strong and influencing factor that should elevate the evaluation of its currency, the benchmark of this naira, remains abysmally and dangerously low and disappointing.

The continuing decline in the value of the naira may be traced to various factors; the decline in oil production and prices, the waning global dependence on oil and the detrimental effect, stifling inflation, expenditure of foreign currency to honour obligations to international creditors, distorted economy with unstable governments and democracy, incoherent and dependent monetary policies, and the most significant being, the indolence and lack of vision of those in charge of our monetary and economic affairs.

To further probe the circumstances and find a perfect distillation of the melange and the sickness that befell the naira, is to observe the weak fiscal performance that pushed the country closer to a fiscal precipice. The past years of Buhari’s administration brought a mix of heightened political tension and deteriorating socioeconomic conditions that relapsed economic growth. During most of Buhari’s tenure the economic performance was driven mostly by the Non-oil sector, which posted a cumulative average growth of about 5 percent, while the Oil sector contracted by well over 20 percent. The oil sector decline was due to the prolonged reduction in domestic crude oil production as a result of massive oil theft and other disruptions. The Agricultural and Industrial sectors while experiencing weak productivity levels contracted significantly, posting negative growth that also affected the value of the naira.

The Central Bank of Nigeria is responsible for manufacturing, issuing, controlling and protecting the naira. In discharging its monetary policy postures, the CBN in the recent past has taken a somewhat

hawkish position by increasing the Monetary Policy Rate (MPR) several times. The monetary institution, similarly increased other policy parameters, such as the Cash Reserves Ratio (CRR). All these measures were adopted to constrain the money supply growth in the economy and rein in inflation while shoring up the value of the naira and reducing capital flight.

The efficacy of the Central Bank measures have been questioned and doubted by economists who pointed to the adverse effects of these policies when they triggered further depreciation of the local currency against other foreign currencies, mostly the US dollar. The critics blamed the redesign of the naira in December of 2022, amongst other factors, for the catastrophic collapse of the naira.

Between 2022 and today, the naira has depreciated by well over 50 percent in the Investors’ & Exporters’ (I&E), and the parallel market rates to N700/US$ and N900/US$ respectively. The consequences of these rapidly accelerating variables are the dire distortions aiding the volatility of the naira.

Amongst the many structural and vulnerability variables that have over the decades been bedeviling the economic well-being of the country, the most devastating is the shocks presented by the fall of the naira. How can any economy grow when its local currency has gravely lost value and indeed, lost current? What has worsened the poverty index in the country, is that food insecurity, energy crisis and inflationary pressures have persisted, thus driving the cost of living over the roof. Similarly, the economy’s negative positions and vulnerabilities got exercabated due to the adverse effects of the importation of petroleum products and the ever-nagging petroleum subsidy issue in a country that is one of the world’s largest producers of crude oil. The amplification of these issues further worsened and weakened the position of the naira locally and globally.

The fragility of economic growth in Nigeria is conversely tied to the stability of the naira, but its somersaulting acrobatics over several years, have rendered the people despondently poor and impoverished. The diminished value of the currency has completely decimated the prosperity for the people. Try buying pepper in our local markets and hear the local traders lament that the low value of the naira against the US dollar and perhaps many other currencies, is the reason food items have become extremely expensive. The local motor park economists are all quick to tie the deficiency of the naira to its inconvertible value and to its incapacity to sustain any bargaining powers or strength.

As we ponder the many unstable economic environments, especially the macroeconomic ones that have rendered the various sectors incapacitated and unable to drive economic growth, is there any hope, is there any light at the end of the proverbial dark and swampy tunnel? To present a drastic reversal of the impending doom, particularly with the dying currency, our objective should require that we sustainably achieve at least an 8.5 to 10 percent growth rate per annum in our Industrial and Manufacturing sectors. This projection if achieved, will create more jobs and ensure that our unemployed graduates receive decent and well-paying employment. Additionally, we must reduce our overreliance on oil and gas and their petrodollar inflows, and avoid our vulnerability to the external shocks that occur as a result of microeconomic and macroeconomic instabilities in terms of volatile exchange rates, huge external debts, mounting local debts, diminishing foreign reserves, high unemployment, high inflation, and unstable fiscal and monetary regimes.

I am particularly troubled by the total enervation of the naira, the weakening and the draining of its energy and vitality. It has been made naked and deprived of the strength that it used to have. There is ample acknowledgement and evidence of the thrashing

and beat-down of this currency, and the ripple and devastating effects of the cycle upon cycle of malevolent destruction and repeated obliteration. It appears that the nature of its tralatitiousness and its malfeasance in the hands of our leaders and policy makers over the decades, remain unabetted.

I began this essay as a raconteur; telling the stories of the glorious days of the naira, deliberately, and with an anecdote for every reason for us to evaluate the evanescence of our currency; its fleeting tendency to vanish like vapor, and fading away before our own very eyes. I have a certain feeling of torschlusspanik; a fear that time to act is running out, and that we may have dug a deep grave for our generation and many more to come for an implacable and an unstoppable fall to disgrace, hunger, and dystopia.

Our situation is not completely hopeless even as I am more pessimistic as any realistic person should be. The reason being that it appears that we may still be dwelling in paramnesia, and a condition of confabulation where those who should provide us with solutions are still living in confusion and fantasy. I am yet to see any serious policy thrust from our new government aimed at reversing the misfortune of the naira. Instead, what we see is what one may call a pococurante and almost apathetic statements without much weight or power.

Even as I have always stated that no one person or group has the solution to our myriads of problems, there are various reform solutions that have been advanced by well-intentioned Nigerians, of which I have been fortunate to be one. Unfortunately, it appears that the advice of these very few persons and groups has not been taken into consideration.

There are many critical reform strategies that I believe will create stability for the economy, and rescue the naira. Some of them are; to increase foreign exchange availability by removing capital controls, and encourage and promote the inflow of stable investments in the oil and non-oil sectors, ensure the appropriate pricing, rationing and management of foreign exchange by instituting a transparent and clear forex policy that will ensure market stability and restore investors confidence, control the spiralling inflation by synchronizing the fiscal and monetary policies of enhancing the efficiency of the CBN to project expansionary fiscal thrust policies. In addition, the authorities must develop agricultural value chains that encompass the much talked about, but nothing done, Commodity Exchange Market, and the integrated agro-processing industrial chain. This will enhance local production and competitiveness and save the country from dependence on dollar-based imports. Also of importance, is the removal of all export and foreign exchange restrictions by promoting and facilitating trade and exports that will support and deepen foreign exchange earnings.

Say and write what we may about the economic conditions of our country and the floundering position of the naira, the abundance of the aporia remain with our policy makers and our leaders. The wisdom, stoicism and selflessness found in true and upright leaders will determine the growth and development of our country. However, my philosophical inclination is the difficulty inherent in our leadership issues which imply that those who govern must first achieve governance of themselves, straighten out their souls, conquer their appetite for stealing, set their soiled characters aright; for the one who is tipping over and falling all over the place, cannot straighten others, nor can a thief teach or organize a disorganized country.

How can our naira not go to the pits when the custodians have been bent and toppled over by their innate idiocy, greed, avarice, foolishness and slippery fingers?

•Dr. Okey Anueyiagu, a Political Economist, writes from Ikoyi Lagos

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