Senate: Nigeria Lost N2.3tn to Oil Theft This Year
Asks panels to probe security agencies Moves to transfer social investment programme to presidency Worries insecurity may lead to acute food Crisis Seeks adequate military presence in north
Ndubuisi Francis and Sunday
Aborisade in Abuja
The Senate disclosed yesterday that
Nigeria has so far lost N2.3 trillion this year to oil theft . Owing to this, it therefore ordered a thorough investigation into the
actions of security forces and militia groups using sophisticated methods to steal crude oil in the country. This followed a motion during
plenary by Senator Ned Munir Nwoko (Delta North). Nwoko, noted that available statistical data have shown that
pipeline vandalism and oil bunkering had brought Nigeria into serious socio-economic crisis.
The lawmaker alleged that some
bad eggs within the security agencies conspired with unscrupulous figures
Continued on page 10
www.thisdaylive.com
APC: Sylva Remains Our Bayelsa Guber Candidate
We’ll step up campaign instead, Ganduje boasts Ex-gov appeals sack, asks court to stay judgment execution Our state doesn’t deserve serial deceiver, says
would not be swayed by the court
Continued on page 10
IMF: Tinubu’s Policies Paving Way for Inclusive Growth
Revises Nigeria’s growth prospects downwards to 2.9%
Eromosele Abiodun and Nume
Ekeghe in Marrakech
The International Monetary Fund (IMF) yesterday, applauded recent economic reforms such as fuel subsidy removal and unification of the exchange rates initiated by President Bola Tinubu, noting that the measures were a pathway towards stronger and inclusive growth.
However, the multilateral institution revised Nigeria’s growth prospects downwards to 2.9 per cent for 2023, a decline of -0.3 per cent from the 3.2 per cent it had predicted for the country in its July World Economic Outlook (WEO).
This was just as Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday, expressed concern over the rising debt service cost globally, saying the situation has forced the federal government to focus more on stimulating domestic investments
Continued on page 10
IMF/WORLD BANK ANNUAL MEETINGS IN MARRAKECh...
L-R Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Managing Director of the IMF, Kristalina Georgieva and Chair, African Governor’ Caucus and the Minister of Finance Cape Verde, Dr. Olavo Correia , at the meeting of the African Ministers and Governors’ caucus meeting with the IMF MD at the ongoing 2023 Annual World Bank/IMF meetings in Marrakech, Morocco... yesterday
Edun: With global rise in debt service cost Nigeria focused on encouraging domestic, foreign investments Israeli Ambassador Insists hamas Must
Vol 28. No 10409. Price: N250 TRUTH &
Wednesday 11 October, 2023
REASON
The All Progressives Congress (APC), yesterday, said a former Minister of Petroleum Resources, Timipre Sylva, who was sacked Monday night by a federal High Court, Abuja, as unfit to be on the ballot again, remained its governorship candidate in the November 11, governorship election in Bayelsa State.
Chairman
APC, Abdullahi Ganduje, has said the party leadership
Diri
Corroborating this, the National
of the
35
We’re
Page 34
Deplorable
Tells Tinubu... Page 33
Be Wiped Out... Page
CJN to Judges: Our Works Shall Testify for Us When
Gone...
Niger Delta Roads in
Condition, Clark
Deji Elumoye, Adedayo Akinwale, Alex Enumah in Abuja and Olusegun Samuel in Yenagoa
2 WEDNESDAY OCTOBER 11, 2023 • THISDAY
WEDNESDAY OCTOBER 11, 2023 • THISDAY 3
4 WEDNESDAY OCTOBER 11, 2023 • THISDAY
A NEW HEAD OF SERVICE FOR LAGOS...
FG: We'll Flush Out Saboteurs Within Works Ministry, Hand Them Over to ICPC
Tinubu backs Umahi on use
will stop use of concrete
Deji Elumoye in Abuja
The federal government has threatened to flush out elements within the Ministry of Works who have been conniving with contractors to frustrate government's efforts at development.
Works Minister, David Umahi, who made this known to newsmen yesterday, after meeting with President Bola Tinubu at the State House, Abuja, also said he would engage the services of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to prosecute the identified civil servants and contractors.
Answering reporters' questions after stating the purpose of his visit to the President, the Minister said those within the system benefiting from those threatening him and the country over the new direction being taken by the administration have become a problem in the ministry.
According to him: "There are some elements within that are also fighting me, who are also benefiting from the system and that is the greatest problem we have and I just pretended.
"I will flush those elements out and send them to ICPC to handle them because nobody can hold this country to ransom. So I'm giving them the last chance to conform to what we help Mr. President to reset the country."
He added that the federal government has also given contractors handling roads projects but
abandoned them a 14-day ultimatum to return to site or face revocation of the contracts.
Umahi added that the government was also planning to drag contractors ganging up against the use of concrete for road construction to the anti crime agencies including the Independent Corrupt Practices and Other related offences (ICPC).
His words: "We’re also leveraging on the contract we signed, it’s 14 days notice we are going to give. I've had more than 10 different meetings with contractors where we discussed this.
"We developed the design, we even developed the cost of doing concrete from the first principle; how much is cement, and the cement factories, the Dangote, the BUA, have agreed to give special discounts to our contractors who are going to engage on concrete road pavement, and many contractors are already doing it.
"Not all the contractors are in this gang up, many contractors have come to sign addendum, doing the road pavements. Those who are meeting are going to be losers and before them they will see that we do the job and we will do it very well."
The Minister, who vowed that he would not succumb to the gang-up and blackmail from contractors, said that President Tinubu has given him the support for the use of concrete in reinforcement.
He said some contractors have keyed into the policy just as major
cement producers have agreed to discount prices for such government road builders.
The former Ebonyi state governor also highlighted the advantages of cement roads over asphalt/bitumen, including cheaper costs and the need to encourage local production of cement against importation of bitumen.
Umahi further warned contractors against the dodgy attitude of securing about 20 projects but end up deploying as few as two units of equipment to site.
On the agenda of his meeting with the President, Umahi said, " I came to Villa to see Mr. President to discuss road infrastructure I want
to thank God because Mr. President approved all my requests. And these requests are requests that will renew the hopes of Nigerians on our road sector development, the approvals will rejuvenate proper road construction.
"But let me clarify a number of issues especially for the benefit of Nigerians and our stakeholders.
"There have been a kind of campaign by some quick fix contractors and some elements you know, within who do not wish us well, who want us to continue with the old order.
"But we can't continue to do the same thing over and over and expect a different result. The truth is that our roads are not good. The
truth is that the past government earmarked a number of roads, which Mr. President inherited, close to about 18,897 kilometres of road totalling N14 trillion."
On how the projects would be funded, the Minister said, "By the mechanism of funding, by the ingenuity of our President Bola Ahmed Tinubu. We are sure of funding of about N5.1 trillion then leaving N6 trillion gaps. And this N6 trillion funding gap is as May 29, 2023.
"And so if we go by the level of argumentation and price increases, which is one of the basis of our fight, if there is anything like fight, is that we don't have this N6 trillion
to complete this project based on what we heard.
"And if we allow the escalation both in terms of scope and in terms of variation of price, then we are very sure that we will not be able to complete even 20 percent of the present roads going on.
"And I want to thank Mr. President very highly. He is a man that is committed to change things in this country. Any other president would have come and say oh, let me start my own projects. But no, he has not started any new projects. He is committed to the completion of this 18,897 kilometres of roads.
Niger Delta Students Decry IOCs' Neglect on Education Empowerment
Urged to shun thuggery in Bayelsa, Imo polls
Blessing Ibunge in Port Harcourt
Niger Delta students under the aegis of Niger Delta Student Union Government (NIDSUG), have decried alleged neglect by the International Oil Companies (IOCs) and other Multinationals operating in the region.
The students who spoke through
their president, Scott Ogunseri, at a conference yesterday in Port Harcourt, appealed to the leadership of IOCs and other multinationals to prioritise the welfare of Niger Delta students by implementing policies and programmes that will benefit the students and in extension, their various communities.
Speaking at the press conference
UBA Set to Reward More Loyal Customers
The United Bank for Africa (UBA)
Plc has announced that its upcoming Super Savers Draw promises to bring even more excitement and opportunities to its valued customers.
In line with its commitment to rewarding loyalty and promoting a culture of savings, UBA explained in a statement yesterday, that it would be giving the opportunity for more of its customers to become millionaires through its Super Savers Draw, billed to hold at the UBA Head Office, Lagos this December.
"As usual the draw is open to both new and existing UBA account holders in Nigeria, with various mouth-watering prizes to be won by customers.
"In this edition, more than 100
lucky customers will qualify to win any of the following prizes; a grand prize of N10 Million Jackpot for one lucky winner; while another winner will go home with the Star Prize of N5 million. Also, another lucky customer will win N1.8 million rent allowance for one year.
"Other prices up for grabs include:Shopping allowance of N500,000; a Cash Prize of N100,000 each for 35 winners and N10,000 for the top 50 transacting Customers.
"10 Current account or savings accounts holders (CASA) will quality to win N1 million each in the draws and 20 customers who open accounts via any of the bank’s digital channels will be rewarded with N10,000 every month.
"Also, 15 kids with a UBA
Kiddies Account will each win N200,000 scholarship reward while 10 Next gen account holders will go home with N180,000.00 cash prize each," it added. UBA’s Head, Retail Products and Sales, Prince Ayewoh, who spoke ahead of the draws said the unique draw has something big for everyone and was organised by the bank to appreciate its customers who had cultivated a savings culture and stayed loyal to the bank over the years.
He said that it woud also offer fresh opportunities to new customers to join the growing number of UBA millionaires and lucky winners who have, in the past, benefitted from various promos held by the bank. He pointed out that UBA remains
passionate about actualising the dreams of its customers as the bank is relentless in helping them grow by making more and more of its customers millionaires.
He said, “As always, UBA has decided to lift the burdens of customers at a time when the nation is going through a challenging time due to the removal of fuel subsidy and the unification of the exchange rate which seems to have taken a hefty toll on Nigerians and has put in place quite a lot to make it happen.
“UBA always walks the talk and never relents in helping its customers succeed. Our customers are special to us, and this is another opportunity to prove just that,” he explained.
titled: "Total neglect of the students community by International Oil Companies, Multinationals in our region", Ogunseri urged the IOCs and the multinationals to review their educational plans in the region, stressing that "It is unfortunate that these international oil companies have blatantly forsaken their corporate Social responsibilities".
According to the students: "we also request a review of the educational programmes and other beneficial programmes for the host communities within the Niger Delta atmosphere.
"Again, we ask the IOCs to be more careful about their exploration and mining activities in order to save tne people of Niger Delta from the hazards of environmental degradation and pollution.
"We all know what is happening to our environment, our parents are not able to go to farm again, it's affecting us badly. We also know about the Ogoni cleanup that is going on and we have other communities that needs to cleanup too".
While considering sponsoring students in diaspora, Ogunseri pleaded that "International Oil Companies should not only prioritise the interests and welfare of Niger Delta Diaspora students,
but also, the overall welfare of home-based students.
"In pursuance of our peopleoriented projects and programmes, we shall be executing welfare and human capacity building programs in the coming days and we urge the IOCs to key into this initiatives for the general interests of Niger Delta students".
They further appealed to the state Governors of the nine Niger Delta states to show solidarity and support to the students by supporting the programme and policies of the NIDSUG.
Also speaking on the forthcoming elections in Bayelsa and Imo states, Ogunseri advised the students in the various states to avoid used as thugs to cause electoral crisis during the polls.
He said, "My interest as a national president is to beg you, vote and not fight. If they give you money to go and fight, collect it, eat it and don't fight. Is not about the election, is about the next generation.
"Niger Delta students in Bayelsa and Imo states, is not about election, is about the next generation. So, lets cast our votes for that candidate you feel has the interest of the students and the youths, which is our primary constituency", Ogunseri advised.
THISDAY • WEDNESDAY, OCTOBER 11, 2023 5 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580 Continues online
L-R: Lagos State Deputy Governor, Dr. Obafemi Hamzat; wife of the newly appointed Head of Service, Mrs. Oyinlola Agoro; her husband, Mr. Olabode Agoro; Governor Babajide Sanwo-Olu; Speaker of the State House of Assembly, Rt. Hon. Mudashiru Obasa and the immediate past Head of Service, Mr. Hakeem Muri-Okunola, during the swearing in ceremony of Mr Agoro as the new Head of Service at the Banquet Hall, Lagos House, Alausa-Ikeja, ... yesterday
Gives contractors 14-day ultimatum to return to site
of concrete roads No amount of gang-up, intimidation
WORLD FOOD DAY IN LAGOS...
Tinubu: Accounting Profession
Crucial for Inclusive Development
environment still hostile
James Emejo in Abuja
President Bola Tinubu, yesterday, said the accounting profession bore enormous responsibilities of ensuring that the financial system is not only robust and transparent but also contributes to inclusive development in the country.
The president noted that as custodians of fiscal integrity, guardians of financial transparency and architects of financial systems, accounting practitioners must support the drive for equitable growth going forward.
Speaking while declaring open the 53rd annual conference of the Institute of Chartered Accountants of Nigeria (ICAN) with the theme:
“Nigeria: Imperatives for Inclusive Development”, Tinubu however, commended ICAN for its efforts in promoting accountability and transparency in public finance management through the ICAN Accountability Index (ICAN-AI).
Represented by the Minister of Power, Mr. Adebayo Adelabu, the president said the index, which assesses accountability and transparency in the three tiers of government, had continued to play a crucial role in fostering good governance and inclusive development in the country.
Tinubu also expressed appreciation to ICAN for its unwavering commitment to the growth and development of the nation adding
“your contributions are invaluable to us and your dedication is commendable.”
This was as the Accountant General of the Federation (AGF), Mrs. Oluwatoyin Madein, also said inclusive development remained a commitment to leave no one behind in ensuring that the fruits of progress are shared by all irrespective of their background and circumstance.
She said as financial custodians and managers, accountants are saddled with a unique responsibility to drive the conversation forward.
Speaking in her goodwill remarks, Madein said, “We must then see accounting as more than numbers on the balance sheet but as a tool in
measuring the heartbeat of a nation.”
She said integrity and purpose were key to helping to create an environment for inclusive growth and development.
Specifically, the AGF said fiscal policy must be designed with inclusiveness in mind.
“They should address the needs of marginalised communities, provide opportunity for economic empowerment and promote sustainable growth that benefits all,” she said.
Also, speaking at the event, Minister of Budget and National Planning, Senator Abubakar Bagudu, commended the institute for hosting a conference which seeks to address inclusivity was not a luxury particu-
House to Screen Presidential Nominees to Board, Management of NDDC Thursday
Commission, NLNG collaborate on sustainable development of Niger Delta region
Adedayo Akinwale in Abuja and Blessing Ibunge in Port Harcourt
The House of Representatives would tomorrow, screen presidential nominees to the Board and Management of the Niger Delta Development Commission (NDDC).
This comes just as the NDDC and Nigeria Liquefied Natural Gas (NLNG) Limited have signed a Memorandum of Understanding (MoU) to collaborate in ensuring the delivery of sustainable development projects in the region.
The Spokesman of the House, Hon. Akin Rotimi and Chairperson, House Committee on NDDC, Hon. Erhiatake Ibori-Suenu, in a statement jointly signed yesterday, said this followed a letter of request from the Presidency to the House which was read on the floor of the Green Chamber by Deputy Speaker, Hon. Benjamin Kalu, who presided over the plenary.
Tthe Senate had screened and cleared the nominees on October 4, 2023. The statement added that the move by the House complements the legislative action by the Senate, and was in pursuant of Sections 2 (2) (a) of the NDDC Act (2000), which prescribes that the presidential nominees must be screened and approved by the
Senate in consultation with the House of Representatives.
The nominees to screened as contained in the letter from the President are: Mr. Chiedu Ebie, Chairman (Delta); Dr. Samuel Ogbuku, Managing Director/CEO (Bayelsa); Mr. Boma Iyaye, ED, Finance & Admin (Rivers); Mr. Victor Antai, ED, Projects (Akwa Ibom); Hon. Ifedayo Abegunde, ED, Corporate Services (Ondo); Senator Dimaro Denyanbofa (Bayelsa); Mr. Abasi Ndikan Nkono (Akwa Ibom); Rt. Hon. Monday Igbuya (Delta); Chief Tony Okocha State (Rivers); and Hon. Patrick Aisowieren (Edo).
Others are: Mr. Kyrian Uchegbu State (Imo); Hon. Otitio Atikase (Ondo); Chief Dimgba Eruba (Abia); Rt. Hon Orok Otu Duke (Cross River); Hon. Nick Wende (North Central); Hon. Namdas Abdulrazak (North East); and Senator Dr. Ibrahim Gobir (North West).
It said the House was thus working in concert with the Senate to fulfil the provisions of the extant law.
The statement noted that the House has set up an ad-hoc committee to conduct the screening of the nominees.
The members of the committees are: Hon. Julius Ihonvbere (House Leader), Hon. Abdullahi
Ibrahim Halims (Deputy Leader), Hon. Kingsley Chinda (Minority Leader), Hon. Ali Isa (Deputy Minority Leader), Hon Usman Bello Kumo (Chief Whip), Hon. Oriyomi Onanuga (Deputy Chief Whip), Hon. Erhiatake Ibori-Suenu (Chairperson, House Committee on NDDC) and Hon. Jafaru Leko (Deputy Chairman, House Committee on NDDC).
Meanwhile, the NDDC and
Nigeria Liquefied Natural Gas (NLNG) Limited have signed a Memorandum of Understanding (MoU) to collaborate in ensuring the delivery of sustainable development projects in the region.
In the MoU, the two organisations agreed to partner to empower communities in the region, promote local content
Continued on page 8
Dorman Long Appoints Chris
Peter Uzoho
Dorman Long Engineering, West Africa's oilfield equipment, structural steel and fabrication company has announced the appointment of engineering expert, Mr. Chris Ijeli, as its new Managing Director. With a track record of driving growth and innovation in the engineering sector, Ijeli is expected to play a key role in furthering the company’s commitment to local content and infrastructural development.
The company announced Ijeli's appointment yesterday in Lagos during a press conference and facility tour of the oil firm's fabrication yard.
The new managing director joined Dorman Long Engineering with a
laudable background and a wealth of experience that would propel the company to greater heights in the steel engineering and fabrication industry.
With over 38 years of experience in project management and engineering, procurement, and construction (EPC) for oil and gas, manufacturing and heavy industry, the company said Ijeli would undertake full responsibility for the leadership and development of Dorman Long’s operations across the continent.
Commenting on his appointment, Ijeli stated, “I am honoured and humbled to take on the mantle as Managing Director, joining an exceptional team at Dorman Long Engineering.
larly given that the social contract between the ordinary Nigerian and society was broken down.
The minister declared that as such, macroeconomic policies are being designed by the current administration to ensure inclusive growth at the grassroots.
However, in his keynote address, Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, emphasised the federal government’s plans to harmonise existing taxes among the tiers of government as well as achieve a single digit tax regime to serve as incentive for voluntary compliance among others.
Oyedele blamed the multiplicity of taxes and revenue agencies for the poor compliance, stating that over 62 taxes currently exist at different layers of government across the country. He also expressed worry that amid the current fiscal constraints, the country has found it difficult to attract foreign investment, adding that those already doing business are beginning to have a rethink.
He also expressed concern over the increasing numbers of people leaving the country for greener pastures.
He said part of the current initiatives was to reduce the number of taxes to about 10 from 70 and achieve single digit taxation.
The presidential tax reforms chairman said unprofessional means of tax administration, low tax morale and taxpayer apathy as well as the largely manual processes of tax regime continued to negatively
impact collection and posed a burden on business operators.
He further stressed the need for single digit taxes, clarification of taxing rights, integration of tax collection functions, and harmonisation of revenue administration as well as a simplified approach to tax compliance.
Oyedele said to comprehensively effect the desired tax reforms, there was need for administrative interventions, constitutional amendments/ legal changes, the use of technology and vertical and horizontal coordination as well as revisit the concept of fiscal federalism.
Among other things, he said, he expressed concerns over the several informal taxes being collected across the country.
He said, “The story is incomplete until you add the over 108 informal taxes collected all over the place -sometimes by non-state actors that have been empowered, either passively or actively by the government.
“In fact, we have bicycle tax, and wheelbarrow taxes in Nigeria. I think if you’re looking for the definition of wickedness, it will be to find a man who is struggling to make ends meet by pushing their wheelbarrow in the sun and say, 'you have not paid your tax.”
According to him, “What I want and hope to achieve is the reduction of the number of taxes to less than 10; yes we want a single digit, and also we want to cut down revenue collection agencies to one for each tier of government.
Ijeli as New Managing Director
“Dorman Long has established itself as a pioneering force in the engineering industry with a solid legacy of excellence. I look forward to building upon its rich heritage and working together to deliver innovative and cutting-edge solutions to clients, whilst exploring new opportunities for growth.”
In his previous roles, the new managing director was said to have successfully envisioned and executed projects worth over $1.5 billion, transforming the face of infrastructure and driving the national and economic development of Nigeria.
Conveying the board’s enthusiasm for the new phase, Chairman of Dorman Long Engineering, Dr Timi Austen-Peters, said, “Engr. Chris’s
enthusiasm for embracing innovative technologies will be instrumental in driving Dorman Long’s continued growth and market leadership.
"Under his guidance, we are confident that the company will undoubtedly scale new heights, build on our strong foundations, and create lasting value for all stakeholders and the nation. We have been a partner in the development and progress of Nigeria from independence and it remains our mission to continue being a partner in the evolution and development of Nigeria.”
However, Dorman Long also announced the appointment of Dr Babajide Agunbiade, as a new Independent Non-Executive Director on its board.
6 WEDNESDAY, OCTOBER 11, 2023 • THISDAY NEWS
L-R: Special Adviser to the Lagos State Government on Agriculture, Dr. Oluwarotimi Fashola, Commissioner For Agriculture, Ms. Abisola Olusanya, and Permanent Secretary of the ministry, Mrs. Olatokunbo Emokpae, during a press conference to official flag off of 2023 World Food Day in Lagos ... yesterday.
PHOTO: SUNDAY ADIGUN
Madein, Bagudu insist macroeconomic policies must address inclusivity Oyedele reiterates FG’s drive towards major tax reforms, says country not attracting foreign investments, business
WEDNESDAY OCTOBER 11, 2023 • THISDAY 7
US MEEtS lEadErShip Of thE UppEr chaMbEr...
L-R: United States
Greene; President of the Senate, Senator Godswill Akpabio; Leader of the Senate, Senator Opeyemi Bamidele and Chairman, Senate Committee on the Interior, Senator Adams Oshiomhole after a meeting with the leadership of the upper chamber in the office of the Senate President, Abuja … yesterday.
FG Unveils Guidelines for Implementation of Mandatory Health Insurance Scheme
Onyebuchi Ezigbo in Abuja
As part of the implementation plan for the National Health Insurance Authority (NHIA) Act, the federal government has launched guidelines for the operation of the scheme.
The Director General of NHIA, Prof. Mohammad Sambo, said the launch of the operational guidelines, became necessary following the enactment of the NHIA Act (2022) which makes health insurance now mandatory in Nigeria.
Speaking at the formal unveiling of the guidelines in Abuja, yesterday, Sambo said NHIA operational guidelines provides an enabling platform for the promotion integration and regulation of health insurance in Nigeria
Sambo, said, the NHIA Operational Guideline 2023, was a secondary law that clarifies roles, responsibilities, and obligations of various stakeholders and facilitates the implementation of Health insurance in Nigeria.
He added: "The NHIA Act of 2022 laid the foundation for a transformative healthcare system in Nigeria that genuinely aspires to leave no one behind. "No Nigerian should choose between their health and financial well-being.
"If health insurance must be met, there must be for the coverage of the vulnerable groups, all those encapsulated in the law, and I've been having an exponentiated understanding of how we are going to try this to social insurance for the attainment of request of health coverage, and sustainable life."
The Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, who unveiled the guidelines said the country was yet to attain the target in its health insurance plan
According to Pate, before the transformation to the new NHIA, Nigeria was a national coverage of between eight per cent and nine percent of the population, which was not where the country intended to be.
He regretted that the high rate of spending out of the pocket by families to access healthcare was responsible which he said the government, in collaboration with critical health sector partners, was determined to address. He said the NHIA was a pointer to the seriousness attached to it by the government .
The Minister said the target of the President Bola Tinubu-led administration was to have at least 50 million vulnerable Nigerians enrolled in a few years.
He said: "These guidelines are to provide direction, so that as a country, the federal government and its contribution with the states with the provisions of the basic health care provision fund, that we will work in a concerted way to expand the affordability of health care for the population in our country, especially the poorest and most vulnerable Nigerians.
"These guidelines have been developed in a consultative manner with all actors-public, private, civil society, and with engagement of the state governments.
"So it's Nigeria coming together to say that people should not be pushed into poverty because of the
cost of ill health.
"And so, as we implemented on the basis of these guidelines, we should see, more Nigerians are covered over time to meet the goals that have been set by Mr. President for his administration. We have over seven of the Global Health Insurance Program.
"We have less than 10 per cent now, so the President's aspiration is transformative so that we leapfrog.
"We expect faster progress and higher rates of increase in coverage over the next few years, and with the Basic Health Care Provision Fund (BHCPF), there is a portion of it that is allocated to the vulnerable groups, and we'll make sure it gets to them.
"Complementary to that, we're
also going to invest in the primary health care arena where almost 1,000 primary health care centres all over the country are going to be receiving funds through the BHCPF. "Now, we would expand the space where other private sector development partners can contribute to accelerate and as the fiscal space of the government improves, we should expect more domestic financing going into that direction," he said.
The Minister of State for Education, Tanko Sununu, who was instrumental to the passage of the NHIA Act 2022, also decried the prevailing high rate of out of pocket spending of almost 70 per cent to access healthcare hu Nigerians.
In her remarks, the Special Assistant to President on Health,
Salma Ibrahim Anas, acknowledged the work put into the operational guidelines by the management of NHIA, while adding that Tinubu was passionate about health and wellbeing of Nigerians which was the reason for sector being in the center of his development agenda. She, however, noted that gaps inherent in health governance should be addressed in consonance with the Four-point Agenda of the Coordinating Minister of Health and Social Welfare, while stressing the need for a stringer collaboration between the Federal and sub national government of the desired results must be achieved Sununu, enjoined the Minister to work assiduously towards the passage of critical health related bills
that were passed but could not get the assent of the president in the last National Assembly.
On her part, Minister of Humanitarian Affairs and Poverty Alleviation, Dr Beta Edu, emphasised the importance of the NHIA if the country was desirous of attaining universal coverage.
She said it was an uphill task but with concerted effort from everyone, it would be achieveable when health risk costs are shared.
The NHIA Act 2022 which replaced the 2004 law recognises the decentralised state of health insurance in Nigeria, provided for the Vulnerable Group Fund (VGF) and empowered the NHIA to promote, regulate and integrate health insurance schemes in the country.
Sanwo-Olu Tasks Executive, Legislature on Blue Economy Development
Lagos State Governor, Mr. Babajide Sanwo-Olu, has called on the executive and the legislature to develop the blue economy in Nigeria by paying greater attention to the sector.
Speaking during a courtesy visit by members of the Senate Committee on Marine Transportation led by its Chairman, Senator Wasiu Eshinlokun-Sanni at Lagos House, Marina, yesterday, Sanwo-Olu said all hands must be on deck to aggressively reduce
bottlenecks for businesses to thrive in Lagos State, especially in the blue economy sector.
He said the visit of members of the Senate Committee on Marine Transportation to Lagos State for oversight functions was apt and strategic.
He, therefore, urged them to make adequate recommendations and suggestions to the larger body of the Red Chamber on how to move the country forward through the blue economy.
“First is to thank Mr. President (Bola Tinubu) for creating a new ministry called the Ministry of Marine and Blue Economy and the National Assembly has taken the right direction by setting up a proper committee to do oversight function in this very important national assignment.
“We know how the blue economy is transforming the indices of economic development and both the executive and legislature need to support
this area such that our economic activities can better be developed, supervised and monitored.
“We need to aggressively reduce bottlenecks of businesses all around facilities and Lagos so that businesses can thrive; they can do well, generate desired revenue to keep people in employment, pay their taxes and create wealth for themselves, families and the nation in general.
Hou S e T o Screen Pre SID en TIA l n om I nee S T o Bo A r D , mA n A gemen T of n DD c T H ur SDAY and capacity development, and work with stakeholders along the value chain to deliver sustainable development projects effectively.
Present at the signing ceremony of the MoU held at NLNG’s Corporate Head Office in Port Harcourt, were the Managing Director of NLNG, Dr Philip Mshelbila, NDDC’s Managing Director, Dr Samuel Ogbuku, and other executives from both organisations.
Mshelbila, in his remarks, stated that through the partnership with NDDC, NLNG aspires to set a precedent for how such collaborations can drive positive change in the Niger Delta region.
He said NLNG’s goal was to replicate the success of its projects and initiatives across the Niger Delta, working closely with
NDDC to maximise the impact of collective efforts. He stated that the goal aligns with its vision of helping to build a better Nigeria.
“Today, we are proud to formalise our partnership with NDDC, an organisation empowered to deliver development projects in this vital region of our nation. "At Nigeria LNG, our journey has always been guided by a commitment to seek strategic partners in sustainable development.
"This commitment is deeply rooted in our core values and principles, and it drives us to continuously explore innovative avenues to make a meaningful impact on the lives of those we serve.
"Our partnership with NDDC is evidence of this commitment.
“Our dedication to the sustainable development of our host communities in health, education, economic development, and infrastructural development remains unwavering. "We understand that our success is linked to the well-being and prosperity of the communities in which we operate. "
In his remarks, Ogbuku, stated that the pact demonstrated unity towards sustainable development and progress in Nigeria. He noted that the MoU heralds a new era of collaboration for the betterment of the Niger Delta region and the nation.
“While the NDDC and NLNG each have unique missions, their common goals emphasizes sustainable development, socio-economic empowerment, local content promotion, capacity building,
and stakeholder collaboration.
"This alliance represents a pivotal moment in Nigeria’s journey towards progress and prosperity.
"It is a testament to the power of unified action in addressing the complex challenges faced by the Niger Delta region and the nation.
"The NDDC and NLNG are poised to create a more prosperous, inclusive, and sustainable future for Nigeria and its people," he added.
According to him, the NLNG was recognised as a significant player in the global LNG industry, committed to conducting its operations with environmental responsibility and contributing to monetising Nigeria’s invaluable natural resources.
"Similarly, the NDDC is committed to promoting sustainable
development within the Niger Delta, focusing on the delicate balance between economic growth, environmental stewardship, and the well-being of local communities,” he stated.
According to Ogbuku, the NDDC was dedicated to uplifting the Niger Delta region through targeted initiatives to enhance livelihoods, education, healthcare, and socio-economic conditions.
As outlined in the MoU, the agreement would promote harmonious relationships between the two organisations as an enabler for achieving a common goal of facilitating the sustainable and continuous development of the Niger Delta region through investment in development projects that will maintain peace and security in the region.
“Lagos is happy that there is a whole team that is looking at the blue economy sector and we believe that when we work together, not only the sector will benefit but the entire economy itself will benefit tremendously from all the engagements,” he said.
The governor also commended the Tinubu-led administration for giving prompt attention to all the bridges that lead to various ports in Lagos State.
Earlier, Eshinlokun-Sanni said Lagos was critical to the blue economy, and that the Senate Committee on Marine Transport had visited Lagos State because 70 per cent of the activities in the sector takes place in Lagos.
He said some of the challenges to the growth and development of the blue economy in Nigeria like non-state actors, illegal collectors and ocean surge issues should be addressed immediately.
8 WEDNESDAY, OCTOBER 11, 2023 • THISDAY NEWS
Chargé ‘d Affaires, Mr. David
WEDNESDAY OCTOBER 11, 2023 • THISDAY 9
Tinubu Orders Immediate Action Plan to Tackle Flooding
Kogi governor-led committee given 7 days to submit report
Deji Elumoye in Abuja
President Bola Tinubu, yesterday, directed an immediate plan of action to mitigate the impact of any flood disaster in the country.
This is part of actions being taken by government to stem the tide of any impending flood crisis across the nation.
Subsequently, the president has appointed Kogi State Governor, Yahaya Bello, as chairman of the committee to produce a road map.
The committee is to harmonise the recent National Economic Council (NEC) report on flood, the 2022 National Flood Emergency
Preparedness and Response Plan as well as all other national reports on flood.
The Deputy Governor of Akwa Ibom State, Senator Akon Eyakenyi, will serve as vice chairman of the committee, which is expected to submit its recommendations in seven days.
At an emergency meeting presided over by the Vice-President, Senator Kashim Shettima, at the behest of the president at the State House yesterday’s evening, Tinubu gave marching orders to the committee for an action plan on all the reports, saying it was best to be proactive than to be reactive.
"Based on the submissions by the DG of the Nigeria Hydrological Services Agency, the situation is not that terrible but to be forewarned is to be forearmed. The submissions by the other relevant stakeholders are equally poignant and we can’t afford to take chances.
"Though the situation is not as bad as we might think, we need to set up a committee so that the report of the Presidential Committee and the 2022 Federal Executive Council – approved broad preparedness plan should be harmonised and implemented immediately," the vice-president stated this as the president’s position.
Sen AT e: nIG e RIA lOST n 2.3 T n TO O I l T H e FT T HIS Ye AR within the oil industry to engage in illicit activity of oil theft.
This, he said, undermined the collaborative efforts of the Joint Task Force of the Nigerian military and other various security entities to combat the menace.
Nwoko said, "The current collaborative efforts involving the Joint Task Force of the Nigerian military, operations like Operation Delta Safe and Operation Dakartada Barawo, along with the contributions of various security entities, state and local governments, and International Oil Companies (IOCs) in the Niger Delta region have yielded positive results.
"These efforts have led to an increase in oil production, reaching
ruling but instead step up campaigns ahead of the election in November.
Sylva, on his part, has immediately approached the Court of Appeal, Abuja, for an order reversing his sack., asking the court to stay judgment execution.
This, nonetheless, the Bayelsa State Governor, Senator Douye Diri, has said what the state needed was an honest and sincere leader that was focused on its development and not a man widely known for deception. However, the National Publicity Secretary of the APC, Felix Morka, in a statement said the clarification became imperative following the court decision that disqualified Sylva.
He said, "Against the backdrop of an Abuja Federal High Court decision that disqualified the Governorship Candidate of the All Progressives Congress (APC), Chief Timipre Sylva, we wish to state categorically that Chief Sylva is and remains the Bayelsa State Governorship Candidate of our great party in the November 11, 2023 Governorship election.
"Our party and its candidate have duly instructed the legal team to appeal the said decision of the Federal High Court, diligently and expeditiously."
The ruling party, therefore, urged its members, supporters, and residents of the state to remain calm and await the outcome of the appeal, saying it remained confident that it would prevail.
"With nothing to offer the Bayelsa electorate, following its lackluster performance as the ruling party, the jittery PDP in Bayelsa State has since resorted to mercenary lawsuits, underhand dealings and antics to distract and create confusion among the good people of the state," Morka added.
He reiterated that the party's governorship campaign flag-off would be held on Saturday, October 14, 2023, in Yenagoa, the Bayelsa State capital, and invited all stakeholders, party members, supporters, and the general public to join the winning campaign.
Hinting at the readiness of the party to appeal the court judgement, Ganduje, who spoke to newsmen after a closed-door meeting with President Bola Tinubu at the State House, Abuja, described the judgment as unfortunate and democracy in action.
He affirmed the fact that the APC would approach the Appeal Court to set aside the ruling in the case instituted by “a party man who has
1.51 million barrels per day in the first quarter of 2023.
"This figure marks an improvement from the 1.49 million barrels per day recorded in the same quarter of 2022 and is notably higher than the production volume of 1.34 million barrels per day in the fourth quarter of 2022.
"Despite the efforts of certain military personnel and security agencies like the Nigeria Security and Civil Defense Corps (NSCDC) and Department of State Services (DSS) in combating oil theft in the Niger Delta region, there are individuals within these institutions who engage in illicit activities.
"These individuals collaborate with unscrupulous figures within
no locus standi.”
His words: "Well, it's unfortunate that judgment, but we can say that it is democracy in action. But we learned that the person, who took the issue to the court of law is not even qualified, because he did not contest with Sylva.
“Therefore, he's not even qualified for him to take the issue to the court. However, we are appealing. We're waiting for the judgment and then we appeal for calm on that issue."
The former Kano State governor stressed that the party would not relent in its campaign for the governorship seat in Bayelsa State despite the distraction via the court ruling.
According to him, "Last two weeks I was in Bayelsa for two good days and I think they were ready and they're still ready to win the election.
"Therefore, this is a little distraction anyway, but we will overcome it. We believe the appeal court will give us positive judgment but that will not
while also encouraging foreign investments.
In addition, the IMF also lowered its 2024 projection for Nigeria to 3.1 per cent from the 3.2 it had earlier projected for 2024.
The IMF disclosed this during the launch of the World Economic Outlook (WEO) at its ongoing Annual Meetings in Marrakech, Morocco, yesterday.
Responding to a THISDAY question, the Divisional Chief at IMF, Daniel Leigh, commended the reforms on the exchange rate and fuel subsidies.
He added: “We see African growth at 3.34 per cent and that is above average but it is below the potential that Africa has and it needs to catch up more quickly.
“For Nigeria in particular we have a growth forecast that goes from 3.3 per cent this year, to 2.9 per cent next year before going up to 3.1 in 2024. There is a downward revision for this year, partly this is because of the demonetisation, the high inflation, the shocks to agriculture and hydrocarbon output.
“That is coming on top of all those external headwinds.
“We also add that President Tinubu has moved quickly with important reforms including ending the fuel subsidies and unifying the official exchange rates. We welcome
Shettima noted that a feasible roadmap would address the flood crisis in Nigeria, and that responsibilities would be shouldered by the North East Development Commission (NEDC), Niger Delta Development Commission (NDDC) and the federal government.
"I deliberately invited the NEDC and NDDC so that with whatever resources that NEMA has, they have to be released to the states so that they can start making preparations for any eventuality.
"Based on the presidential directive, I will meet with the Chief Executives of the NEDC and NDDC for states that are under their cover-
age. There should be interventions from them. For NEDC, they can take care of Taraba, Bauchi and Adamawa. For NDDC, they can take care of Akwa Ibom, Bayelsa, Delta and Cross River.
“For states like Ebonyi, Kogi and Benue, we will mobilise from our savings and deploy same to assist them. We have to share responsibilities and hence the immediate need for the roadmap to be implemented."
The Chief Executives of the Nigerian Meteorological Agency (NiMet), National Space Research and Development Agency (NASRDA), National Water Resources Institute, National Emergency Management Agency (
President Tinubu
NEMA) and Nigeria Hydrological Services Agency (NIHSA) all made presentations with reactions from Governors of Bauchi, Kogi, Ebonyi and Cross River States.
the oil industry to undermine the nation's economy.
"Also observes that it has come to attention that oil theft in Nigeria thrives due to a troubling collaboration between security forces, militia groups, the local population, and certain employees within oil companies.
"These parties employ sophisticated methods to carry out theft from oil facilities located within the country. Given Nigeria's vast oil and gas reserves, one would expect crude oil production to continuously increase, aligning with OPEC's production quota of 1.74 million barrels per day."
Nwoko, further said there had been accusations and counter-
stop us from making arrangement for the forthcoming election, which is coming up on 11th November 2023."
But Sylva, through his lawyer, Dr Ahmed Raji, SAN, has filed a stay of execution of the judgment of Justice Donatus Okorowo of the Federal High Court, Abuja, which barred him from participating in the governorship poll slated for next month.
The senior lawyer submitted that the trial court's judgment was against settled principles of law and notable precedents, adding that the chances of success at the appellate court were very high.
Speaking shortly after filing the motion, Raji, disclosed that the appeal raised three fundamental issues touching on jurisdiction, locus standi and wrongful evaluation of affidavit evidence.
In the motion on notice, dated October 10, 2023, the appellant prayed the court for an order staying execution and/or further execution of the entire judgment and
these initial bold reforms because we see them as paving the way towards stronger and inclusive growth.”
On his part, Chief Economist, IMF, Pierre-Olivier Gourinchas said: “On Sub-Saharan Africa, there is a slight downward revision for the region as a whole. We are expecting growth at about 3.3 per cent this year and that’s about 0.2 percentage downward revision. There is a slight downward revision for next year to about four per cent.”
The IMF WEO further added that the projected decline reflected in a number of cases, worsening weather shocks, the global slowdown, and domestic supply issues, including, notably, in the electricity sector.
Speaking further, Edun noted that the hike in interest rate among the multilateral institutions and debt sustainability were of concern to Nigeria, adding that the Tinubu’s administration was focused on attracting foreign investment and the flow of funds that are non-debt.
The minister who stated this during an interview on the sidelines of the ongoing IMF/World Bank Annual Meetings in Marrakech, Morocco, disclosed that the federal government would soon introduce tax reforms aimed at optimising the efficiency of revenue generation through improved tax collection
accusations of oil bunkering and various other crimes between the military and local militia groups. These allegations he said, underscored the significant level of sabotage and disruption to the nation's economic backbone.
"In 2022, it was reported that Nigeria suffered daily losses of approximately 437,000 barrels of crude oil, amounting to a value of $23 million, due to criminal activities.
"In March 2023, Nigeria incurred a substantial loss of 65.7 million barrels of crude oil, valued at $83 per barrel, translating to a staggering revenue loss of N2.3 trillion as a result of oil theft," he added.
He, therefore, urged the Senate to carry out a holistic investigation
the orders contained in the Judgment of the Court, delivered on October 9, 2023, pending the hearing and final determination of the appeal lodged against the judgment and orders of this court before the Court of Appeal, Abuja.
The former Minister also prayed the court for an injunction, restraining the respondents from implementing and/or giving effect to the Declaratory and Executory Orders contained in the Judgment.
The appellant submitted that Okorowo in his judgment wrongly assumed jurisdiction by delving into the internal affairs of his party, APC, which is a non-justiciable cause of action and thereby occasioned a grave miscarriage of justice.
In addition, he argued that the trial court has a duty to understand the case presented by the parties and apply the law correctly.
In ground two, the former governor said Justice Okorowo erred
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into the activities of the oil thieves and their collaborators in the security forces.
Senator Buhari Abdulfatai (APC, Oyo) called for punitive measures to combat oil bunkering.
"We carry out investigations every year but at the end, nothing has come out of it. We need to review our laws and take punitive measures against oil thieves," he said.
Senator Adams Oshiomhole (APC, Edo) said oil theft was an organised crime involving the bunkers and the security operatives.
This, he said, explained why many security agents lobbied their superiors to be posted to the oil producing communities.
The Senate, therefore, directed its committees on Petroleum Resources (Upstream, Downstream and Gas), Host Communities and Niger Delta Affairs) to carry out holistic investigation into the actions of security forces, militia groups, the locals, oil company employees and any individual or entity suspected to be using sophisticated methods to pilfer from oil facilities.
In his remarks, Senate President Godswill Akpabio said oil theft had impacted negatively on the country's oil production capacity despite its growing population.
He asked the committees to carry out a thorough brobe and report back to the Senate in six weeks.
Also yesterday, the Senate started the amendments to the National Social Investment Programme Agency Act (NSIPA), 2023.
It was aimed at moving the agency from the Ministry of Humanitarian Affairs and Poverty Alleviation to the Presidency.
The Bill, moved by the Leader of the Senate, Senator Opeyemi Bamidele passed second reading at the plenary.
Bamidele said the bill sought to amend Sections 9(3), 14(1), 21(1),
22(1), 26(1) and 33 of the NSIPA Act, 2023 by transferring the agency from the Ministry of Humanitarian Affairs and Poverty Alleviation to the Presidency.
The senate leader added that the agency “will now be under the direct supervision of the President.”
He further explained its significance to poverty alleviation and social inclusion.
He said the plan to amend NSIPA Act, 2023 “is to ensure that the social investment programme are standard, transparent, effective and accountable.”
He explained that the amendment “is a result of the commitment of the Renewed Hope mantra of President Bola Tinubu in ensuring that social investment programme are standard, transparent, effective and accountable structure of delivery, adequate coordination and synergy among key government agencies.”
The senate leader noted that the amendment “is in fulfilment of section 17(3) of the Constitution of the Federal Republic of Nigeria, 1999.”
Under the section, the State shall direct its policy towards ensuring that all citizens, without discrimination on any group whatsoever, have the opportunity for securing adequate means of livelihood as well as adequate opportunity to secure suitable employment, among others.
Bamidele explained that with this amendment a wide range of sustainable development goals (SDGs) including poverty reduction, education, health, social inclusion and empowerment could be achieved through the NSIPA
Also, at the plenary, former President of the Senate, Ahmed Lawan pointed out that the 9th senate passed the bill, though its implementation was flawed because those who should be given support
Continued on page 35
methods.
Also, he said there were on-going meetings centered on addressing the financing deficit faced by both Nigeria and other developing nations. He advocated for Nigeria to assume a more significant role in decision-making and raised concerns related to Nigeria's inclusive growth.
According to him: “Debt sustainability is a big issue. Clearly, with interest rates going up around the world, there is the issue that debt service is taking a larger share than is practical that is warranted of resources in developing countries around the world. “And in Nigeria, what we are focusing on as an administration is to increase the flow of funds that are non-debt.
“So rather than focusing on borrowing, there'll be a focus on encouraging investment, domestic investment and foreign. The Managing Director, of the World Bank did say it's really simple: the money is in the rich countries.
“The investments, the opportunities and the scope for investment as a whole and expansion of business ideas are in poor countries. So, it is bridging the two that are important and in Nigeria, the focus will be on creating an environment for domestic and foreign investors to thrive.”
Edun added that currently, there
is inadequate concessional financing, rising interest rates even within multilateral institutions. According to him, there was the pressing concern of escalating global interest rates contributing to a prominent debt issue and a substantial financing gap for the developmental needs of developing nations.
He added: “Basically, what we have at the moment is not meeting the expectations and the requirements of developing countries, such as Nigeria. There is not enough concessional financing; interest rates are going up even within the multilateral institutions.
“Interest rates are so high around the world that the issue of debt is one that is top on the agenda. And of course, there's a financing gap, there is not enough funding to fund the developing requirements of the poorer countries.
“And that's what the conversation at this meeting was all about. There is need for reform and the need for improvement. In fact, they talked about a bigger, better and bolder World Bank Group that would also mobilise the private sector funding and of course, for Nigeria, one of the high points was that something that the government of President Bola Ahmed Tinubu has emphasised also came to the fore here, and that is domestic resource mobilisation.
“The fact that we have to depend on our own resources, our own savings to a larger extent. We must be efficient in collecting taxes and fees and payments that are due, we must be more efficient and cost-effective with our expenditure and we must create a bigger base of financing from our own resources.
“We must rely on ourselves and we must pull ourselves up much more than relying on others. I think that was an important message that came out.”
Speaking on inclusiveness in decision-making, he added: “On one hand, as far as the international, multilateral development banks and institutions are concerned, we along with other Africans are calling for a bigger voice, a third seat in the governance of the World Bank and IMF, and for Sub-Saharan Africa, and at the end of the day for Nigeria.
“So, we are saying we want greater representation at the table in which some of these decisions are taken and of course coming back home, it's all about what is being done and there are major steps being taken to reform the tax environment.
“There will shortly be announcements of measures that rationalise and improve efficiency, which consolidates the issue of tax revenue and domestic resource mobilisation.”
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When South East Governors Brainstorm on Politics, Security and Economy
Amby Uneze writes about the recent summit attended by the South East Governors in Owerri, the Imo state capital, to proffer solution to the myriad of political, economic and security problems facing the geo-political zone.
The recent South East Summit on Security and Economy, held in the enlivened city of Owerri, presented an auspicious platform for discussion and strategising in response to the South east’s daunting challenges. Interestingly, one man stood resolute among the colourful array of dignitaries – Governor Hope Uzodimma.
It is pertinent to give kudos to Governor Uzodimma for successfully hosting this pivotal summit.
The two-day Summit on Security and Economy with the Theme: “South East Beyond 2023, A Time for Reset”, posed a needed avenue to tackle most of the issues that had drawn back development in the region for decades now.
The Governor said the summit was organized to take decisions that will affect the entire zone on security, economy and even cooperations between one state and another, hence he said “the summit heralds a glorious new dawn.”
He recalled the strengths of the Igbo man during pre-independence era and immediately after, stemming from one sector to the other and regretted that “the trade mark of Igbo unity has been weakened.”
Posing some pertinent questions: “How did the mighty Igbo Nation fall from her Olympian heights to the basement? What actually happened to Igbo nation?,” the governor added that it was the Igbo unity that made the Igbo man trail blazers wherever they are found.
Recognizing that a lot of things had gone wrong, the governor said the Igbo technology and intellectual ingenuity are still alive and could still be applied to move the zone forward.
He suggested that “participants must rise from the summit with a clear road map that our people will follow to regain the lost freedom and businesses without molestations and harassments.”
Uzodimma, however, suggested the floating of South East Development Fund as a means of funding researches that will help articulate the development of the place.
A hands-on leader, the Governor demonstrated commendable leadership skills that marked his governance and success of the summit, as his canny preparedness, efficiency, and skilful coordination, underscored by the summit’s success, distinctly mirrors his focused drive and commitment to addressing pressing issues in the South East.
He noted that the planned dredging of Oguta Lake to Atlantic Ocean is a bold step towards re-engineering the economy of the South East and commended the Nnewi, Aba and Onitsha businessmen and women for exhibiting and sustaining the business spirit of Ndigbo.
Exuding exceptional organisational skills, Uzodimma ensured that the
summit was precisely planned, thereby fulfilling its objectives that included efforts to enhancing security measures and economic growth in the region.
Security, a pressing challenge in Nigeria, particularly in the South East, was conspicuously prioritised in the summit. Thus, it is important to highlight the governor’s visionary stance to tackle these issues.
Furthermore, Uzodimma demonstrated a high degree of diplomacy as the organizers brought together diverse interest groups to discuss the SouthEast’s key affairs. This confluence of opinions, ideas and possible solutions to the region’s daunting challenges underscored the governor’s political adroitness and conveyed his commitment to unity, a prerequisite for the region’s progress.
His administration possessed a strong dedication to economic growth, which was evident throughout the summit.
The governor, understanding the vital role of the economy in the region’s overall development, set forth a platform to discuss and strategize on economic enhancement strategies.
This impressive feat further highlighted his commitment to transforming the South East region to take her rightful position in national economy.
Governors of Anambra, Abia, Enugu and Ebonyi States who were all present in the summit also made strong presentations. Governor Chukwuma Soludo suggested that Igbos should have an unwavering and unalloyed commitment to the South East Agenda and expressed delight to be part of the agenda, adding “The South East needs a hundred years plan that will lead the zone
to a destination.”
He talked of “homeland consciousness” where the Igbo must believe in themselves, by believing in their products, in their technology and in their entrepreneurship.
Soludo also suggested that the Igbo must also need a partnership to achieve their security, political and economic destination because of their itinerant nature. Such partnership must be with Nigeria, the Diasporans and International Community, noting that “as itinerant people the Igbos don’t need to be provincial.”
Governor Alex Otti of Abia State said there is the need to engage the youths in dialogue and find out what their problems are. “We must appreciate that there is anger in the land and amongst the persons that made up the area. We must work for justice for the land, people and groups and stop extortions of the poor by the rich and the leaders and do everything possible to stop bloodletting.”
On his part, Governor of Enugu State, Dr. Peter Mbah, suggested the need for regular meetings between the security agencies and leaders of the zone and the establishment of command and control centres to always analyse ideas that will move the zone forward.
He added that “there is need for the use of non-kinethic approaches such as: morals, town unions and others to persuade the Igbo men and women to see the need for peace and unity of the zone.”
Mbah talked of having a “unified market that takes care of competitive products advantage but most importantly, the need to build a ring-road that connects all the South East States.”
His Ebonyi State counterpart, Hon. Francis Nwifuru, represented by his Deputy, Princess Patricia Onyemechi, suggested the need for peace to be derived from family and home settings and the need to monitor our children and know what they do outside home.
She also reemphasized the need for South East to believe in themselves and expressed full commitment to the project.
Director-General of World Trade Organization, Dr. Ngozi Okonjo-Iweala, who
On his part, Governor of Enugu State, Dr. Peter Mbah, suggested the need for regular meetings between the security agencies and leaders of the zone and the establishment of command and control centres to always analyse ideas that will move the zone forward. He added that “there is need for the use of non-kinethic approaches such as: morals, town unions and others to persuade the Igbo men and women to see the need for peace and unity of the zone.”
spoke via zoom, in her keynote address, recalled that “the South East has so many talents, opportunities and resources begging to be exploited,” but regretted that “the zone has lost focus and is fragmented as a people who are disenchanted.”
She said insecurity in the zone is sending wrong signals to those who would have wished to invest in the zone and concluded that “we cannot develop in the face of insecurity.”
While she suggested the need to create an apprenticeship hub from where skilled youths will be recruited for lucrative employment, she also proposed that the South East convenes an investment forum. Okonjo-Iweala noted that technology and digital economy are trending now globally, hence the need for digital infrastructural centre that can be located in Owerri and Abakiliki.
She also suggested that the South East Governors could come together to do financial engineering by establishing financial bond.
Also speaking via zoom, the presidential candidate of Labour Party during the 2023 general election, Mr. Peter Obi, commended the efforts of the South East governors, Ohanaeze Ndigbo and the organizers of the summit for such a wonderful outing.
He suggested for all hands to be on deck to achieve economic development and security in the region.
Using the private sector perspective, the Chief Executive of Zinox Technologies Ltd, Mr. Leo Stan Ekeh, said “there is the need for a change in the economic thinking of our people because what worked yesterday cannot work today.”
Suggesting that “we should engage the youths in the critical development,” Ekeh enjoined the Governors of the South East to appeal to Mr. President to release Mazi Nnamdi Kanu, noting that “Kanu is a critical factor in the security issues of the South East.”
The summit, successful in its execution, is not only ratifying of Governor Uzodimma’s strategic competence but also symbolises his clear vision for a secure, economically prosperous South East region. The governor’s successful hosting of the summit was a bold proclamation of his dynamism, administrative acumen, and fervour to engender transformative change in the South East.
In conclusion, the successful hosting of the South East summit on security and economy by Governor Uzodimma vividly showcased the governor’s prowess in diplomatic leadership and strategic organisation. His dedication to fostering unity, security, and economic prosperity within the South East region is not only commendable but inspirational, thus deserving of every applause.
-Uneze writes from Owerri
politics Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY ) 16 THISDAY • WEDNES DaY OCTOBER 11, 2023
Uzodinma Mbah Otti Soludo Nwifuru
As Abiodun Floors Adebutu at Ogun Tribunal...
Ogun state election petition tribunal has dismissed the petition filed by the peoples Democratic party’s candidate in the March 18, 2023 governorship poll in the state, Hon ladi adebutu and affirmed the re-election of Governor Dapo abiodun. James Sowole reports.
Like in the final match of any sport competition, where a winner must emerge irrespective of how long it takes before such victory is achieved, a draw has become impossible in election into any office, no matter how small the position may look.
Therefore, the struggle for political power during election at every level of the contest, is always tensed among contestants because the principle of winner takes all, is the rule in most cases.
It was therefore, not surprising that leaders and members of the opposition Peoples Democratic Party (PDP), did all they could in order to stop the re-election of Governor Dapo Abiodun of the All Progreaauves Congress (APC) in the March 18, 2023 governorship election in Ogun State. The struggle to stop Abiodun during preparation for the proper election involved conspiracy of some political leaders even within the ruling All Progressives Congress (APC), which eventually led to the defeat of APC in many local governments, which was unexpected.
The battle did not stop at the level of election, as the PDP and its governorship candidate, Hon Ladi Adebutu, filed petition at Election Petition Tribunal, that sat within the Margistrate Court premises, located at Isabo, Abeokuta.
The three-man tribunal, that reviewed complaints on Ogun Governorship Election, has Justice Hamidu Kunaza, as Chairman and Justices J B Egele and Shannusi Shehu, as members.
Like the Presidential Election Petition Court which read its judgment for about 13 hours in suits filed by candidates of the Allied Peiples Movement (APM), Labour Party (LP) and the PDP, the Ogun State Governorship Election Petition Tribunal, on Saturday, September 30, 2023, spent about 12 hours to deliver its judgment, in the suit filed by PDP and its candidate.
Five issues relating to the petition, were resolved by the tribunal that painstakingly, reviewed the matters. Four of the issues, were resolved in favour of the respondents, while one issue was in favour of petitioners.
The issues were those that were considered pre-election matters and matters that happened during the election proper.
In the suit, the petitioners alleged that Abiodun was not duly elected as the election was not conducted in compliance with the Electoral Act 2022.
The petitioner, also alleged that Abiodun submitted a forged West African Examination Council (WAEC), Certificate, which suggested that he should have been disqualified from contesting the March 18, 2023 election.
It was also alleged that Abiodun was not qualified to contest the election, having been arrested, tried and convicted by a court in the United States of America.
Moreover, Adebutu and PDP alleged that 49,000 voters, in 99 polling units accross the state, were disenfranchised during the poll and if the principle of margin of lead is applied, it would have made the election inconclusive.
Other issue in the petition, was allegation of vote buying, where Abiodun in his reply to Adebutu’s petition accused the petitioner of engaging in vote buying by producing 200,000 pre-loaded Automated Teller Machine (ATM) cards of N10,000 each and distributed same on the election day.
Reading the judgment after dissecting arguments of counsels to both the petitioners and the respondents and citing relevant authorities on earlier decided cases, Chairman of the panel, Justice Hamidu Kunaza, concluded that the petitioners, had failed to prove allegations on each issue raised and which could warrant prayers being sought.
Deciding on the election results as released by INEC, the tribunal held that the petitioner did not use proper language, to describe the situation.
The court held that the petitioners have a duty to state the results correctly. It stated that in this case, petitioners inserted the word “wrongly” in the petition to describe the return made by INEC Court cited Ikpeazu v. Otti and other cases, in which it was held that a petitioner must state the person declared to have won an election, which petitioners did not do in this case
It stated that petitioners refused to acknowledge the candidate returned in this election and by using the word “wrongly” is say-
ing that Abiodun (2nd respondent), was not actually returned, yet challenging the election
The court also found that petitioners have a duty to plead the results of an election as announced. But petitioners did not do so and instead, used the word “purportedly” in describing the results, which as defined in the dictionary, means rumoured. Court held that petitioners ought to challenge the results as announced not rumoured results.
It therefore, concluded that the petition, was incompetent for this reason.
The tribunal also held that the petitioners failed to prove beyond reasonable doubt, the allegations of non-compliance, overvoting, disenfranchisement of voters and corrupt practices during the polls.
On two issues relating to why Abiodun should be disqualified from contesting the March 18 Election, the tribunal declared that factors relating to disqualification are in Section 182 of the Constitution.
The two issues considered, were that Abiodun presented a forged certificate to INEC and that he was arrested, tried and convicted sometime in 1986
In determining this, the tribunal, considered provision of Section 285(14) of the Constitution which defines a pre-election matter.
Court relied on a decided authority which is that where a candidate’s emergence is challenged on the ground of false information in Form EC9, it is a pre-election matter for determination before a High Court. That Tribunals have no jurisdiction over such complaints
Court finds that the issue of arrest is not a disqualification issue and that petitioners have even conceded that point by not responding to 2nd Respondent’s arguments in that regard.
The Justice said that the tribunal, was not persuaded with the allegation that Abiodun was once arrested, detained, tried and convicted in the United States.
He said the tribunal found that petitioners have not proved that it was Abiodun’s fin -
gerprints that are on the jail intake document stating that petitioners have not linked the governor to the name Shawn Michael on that document and the witness who tendered it never even said how he came upon that document, having conceded that he had never been to Florida before his testimony.
The tribunal added that assuming the governor was truly the arrestee in the jail intake document, the Constitution disqualifies a candidate for a conviction within the last 10 years preceding the election but that the incident in the jail intake form occurred in 1986, which was 37 years ago.
The tribunal therefore, finds that the ground seeking the disqualification of Abiodun, was incompetent.
On disenfranchisement, Tribunal held that in proving the allegation disenfranchised voters must testify that they had their voters cards, were ready to vote and if they were allowed to vote, their candidate would have won.
It said these requirements were not met in this case as the over 49,000 witnesses that petitioners allege were disenfranchised were not produced as witnesses.
However, the tribunal resolved the allegation of vote buying levelled against the petitioner by the 2nd Respondent, in favour of the petitioner.
The tribunal, held that that although cash cards were produced, that those cards were funded on 16 and 17 March 2023 (eve of the elections) and those cards somehow found their way to some polling units on election day.
The tribunal held that there were not evidence to directly, link the 2nd Petitioner (Adebutu) stating that allegation of vote buying must be proved beyond reasonable doubt and which respondents failed to meet.
In his final judgement, Justice Kunaza said, “I uphold the election of Dapo Abiodun as the dully elected governor of Ogun State in the March 18 election.”
Expectedly, the judgment of the tribunal, had been generating reactions from the camps of both the petitioners and the respondents. While some groups loyal to the petitioners, described the judgment as charade and miscarriage of justice, groups loyal to Abiodun and the APC, described the judgment as triumph of democracy and a prove that the petitioners, were chasing shadow.
Saying that the morning shows the day, political analyst, said performances of Adebutu and PDP witnesses, had actually shown the way the matter would go adding that witnesses fell flat during cross examination, during proceedings of the tribunal.
However, the petitioners, were of the opinion that the Court of Appeal, would upturn the judgment of the tribunal as it is not over yet since there are still two more levels, for the matter to complete its full course.
17 THISDAY • WEDNES Day OCTOBER 11, 2023 p O li T i CS
Abiodun Adebutu
Five issues relating to the petition, were resolved by the tribunal that painstakingly, reviewed the matters. Four of the issues, were resolved in favour of the respondents, while one issue was in favour of petitioners. The issues were those that were considered pre-election matters and matters that happened during the election proper. In the suit, the petitioners alleged that Abiodun was not duly elected as the election was not conducted in compliance with the Electoral Act 2022.
Radda: One Hundred Days of Uncommon Transformation
On assumption of office one hundred days ago, Governor Dikko Umaru Radda of Katsina State came with the Building Your Future Strategic Policy, which is to recreate the state and make the people live more amply, with the provision of physical and economic infrastructure.
Radda, while campaigning for the office of the governor, traversed the length and breadth of the state, including bandits' enclaves, to have a firsthand knowledge of the problems and desires of the citizens of the state across the 361 political wards.
With his vision of leading the government that exists to build the future of the indigenes, the governor rolled out his sleeves and began his project's revolution to actualise the citizens' desires for a balanced development and an enhanced quality of life for the present and future generations.
He drew up well thought-out and exhaustively researched programmes anchored on improved security; aggressive transformation of education, health, agriculture, water supply and urban renewal with boundless opportunities for citizens to pursue their goals and realise their potentials.
Security, being the cornerstone of Governor Radda’s future building project, is given the desired attention because the governor had created the Ministry of Internal Security and Katsina State Community Watch Corps in which 1,500 youths from eight frontline local governments are recruited and trained.
The sum of N560 million has been approved and released by the Radda-led government to be used in purchasing security equipment for personnel of the newly-established Security Watch Corps in order to augment the efforts of conventional security agencies in the ongoing onslaught against terrorists and other criminals.
Similarly, N7.8 billion has been expended by his government on procurement of 10 Armoured Personnel Carriers (APC), 65 Hilux vehicles, 700 motorcycles, surveillance cameras and other security gadgets. He also doled out N20 million as financial assistance to victims of terrorism, including security personnel. He equally enacted a security containment order.
His government has partnered with the United Nations Development Programme (UNDP) to establish Peace Hubs and Preventive Facilities with a pilot project in Jibia to help reverse the threat insecurity has created in the state. A security advisory committee has also been inaugurated by Governor Radda-led government.
These, among other notable gestures, institutionalised Radda’s revolving security strategies to deal with security challenges pervading farming communities in 22 out of the 34 local government areas of the state.
On education for instance, Governor Radda had laid the foundation for the construction of three pioneer modern schools across the three senatorial zones of the state. The schools, when completed, will set standards for educational excellence and create equality and equitable access to education for residents, thereby reducing regional disparity in educational opportunity.
Interestingly, admission into these uncommon schools would be purely on merit irrespective of religion, tribal, region or political affiliations of the qualified students.This signifies Governor Radda's dedication and commitment to fostering innovation, modern teaching practice and the state educational system.
To avert manpower shortage in the education sector, the governor recently absorbed 7,325 teachers on the state government's S-power programme, part-time teachers and volunteers into the state civil service after thorough screening and examinations. This gesture has been described by the Coalition of Civil Society Organisations (CSOs) in the state as a giant stride towards rejuvenating the education sector in the state.
The government in collaboration with the World Bank through its Adolescent Girls Initiative for Learning and Empowerment (AGILE) project, has commenced the construction of 150 new junior and senior secondary schools
across the 34 local government areas of the state.
Each local government in the state would have at least two junior secondary schools and one senior secondary school in line with the national policy on education. The 150 schools, which comprises 90 junior secondary schools and 60 senior secondary schools, are to be built in two phases.
The architectural design of the schools shows that each school would have 10 classrooms for junior secondary school, while the senior secondary school would have 12 classrooms, multipurpose laboratory, chemistry, physics, biology laboratories, as well as latrines and a stable water supply system.
With technical support from Radda’s government, the Bank also distributed a whopping sum of N100 million each to 15 additional secondary schools, amounting to N1.5 billion for renovation under its AGILE mega grant.
A comprehensive needs assessment has been conducted by the governor in the state's health sector to resuscitate its comatose nature. Thus, he has inaugurated two dialysis centres and increased the number of beds in the centres from two to 16 for effective and efficient healthcare delivery.
Governor Dikko Umaru Radda has graciously awarded foreign scholarships to 40 indigenes of the state to study medicine at a recognized university in Egypt. The aim is to have more qualified doctors that will later be deployed to various health institutions.
3,470 HIV testing kits and other essential consumables were recently procured and distributed by the state
government to 347 primary healthcare centres in the state. These includes; HIV reactive testing kits (RTKs), 500gm of cotton wool, 100 methylated spirit, registration booklets, HIV referral forms, monthly summary forms and patient folders.
The provision of the kits and essential consumables to the health facilities, according to health experts, would go a long way in curbing mother-to-child transmission of HIV and ensure that those tested positive for the virus get the needed and timely care.
Additional doctors and nurses are currently being recruited by the state government to tackle the acute manpower shortage bedevilling the health sector, while the governor vowed to establish at least one functional primary healthcare centre in each of the 361 wards of the state before the end of his tenure.
To boost routine immunisation, the Radda-led government in partnership with the United Nations Children’s Fund (UNICEF), has purchased and distributed 198 motorcycles to routine immunisation officers and ward focal persons for efficient and effective service delivery.
Invariably, Radda’s investment in healthcare is focusing on efficiency and affordable healthcare for the people at the primary healthcare centres without neglecting the secondary and tertiary levels of healthcare across the state.
As a trained agriculturalist, the governor has finalised a new extension service programme that will introduce extension farming and increased the numbers of extension workers from 72 to 600 as he prioritised the agroeconomic development of the people of the state.
Unarguably, the establishment of Katsina Irrigation Authority, will also revolutionise agriculture by providing sustainable water resources, boosting crops yields and ensuring sufficient food production and security in the state.
This agency will facilitate efficient water
management practices, reduce reliance on rainfall agriculture and mitigate the effect of climate variation. It will equally provide responsible water use, minimise wastage and enhance the overall productivity and resilience of farming communities.
By developing and focusing on irrigation farming, Katsina State under Governor Radda is taking a very bold and significant step towards economic diversification, job creation and poverty reduction in the state through agriculture.
On social support, Governor Dikko Umaru Radda had graciously purchased 40 buses for the Katsina State Transport Authority. 15 of the buses are being used for inter-city services and the 25 are for intra and inter-state services respectively.
Various water projects initiated by the previous administration of Governor Aminu Bello Masari had also been completed by Governor Radda within his first 100 days in office. He is currently wooing investors in the water supply chain for more projects in the state.
The Katsina State Development Management Board, has also been created by the governor to streamline and coordinate the developmental efforts in ensuring that resources are maximised and projects are completed on time in accordance with budgetary provisions.
It will also focus on strategic planning and efficient execution of development projects in the state, thereby enhancing accountability, transparency and effectiveness in achieving the state's socio-economic and development goals. This reflects Radda’s commitment to responsible governance and sustainable development.
While the establishment of Katsina State Assets Management Agency, will ensure efficient management, utilisation and maintenance of state assets and atomise their values for the benefit of the public. The agency will also centralise assets maintenance, reduce waste and ensure long term sustainability of valuable state resources.
Another strategic approach by Governor Radda-led government to drive comprehensive reforms in the state, is the establishment of the Department of Public Administration Reform. This department will streamline government processes, reduce bureaucracy and improve public sector performance.
The establishment of the department further underscored Radda’s quest for good governance and transparency because it will create a more responsible and accountable government that will effectively serve the citizens of the state.
Also, the establishment of Katsina Enterprise Development Agency, will foster entrepreneurship, innovation and economic growth within the state and provide essential support and resources to aspiring entrepreneurs and existing businesses, promote job creation as well as economic diversification.
This agency, if properly handled, will make thousands of citizens self-reliant and financially independent, drive economic development, tackle unemployment and improve their socio-economic wellbeing.
To ensure digital transformation, Governor Radda had established Katsina State ICT Directorate. This will make government services more accessible and efficient for all residents and businesses, and will futher attract tech-driving investment to the state.
Realising that both new and old Ministries, Departments and Agencies (MDAs) need funds to be able to function effectively, Governor Radda signed an executive order for immediate implementation of Treasury Single Account in the state.
Efforts are on by the governor to build a technology platform that will best serve the needs of the people in tax management, central billing, budget planning and expenditure tracking for transparency and accountability to thrive in all MDAs in the state.
With these one hundred days of uncommon transformation through sustainable future building projects, analysts argued that Governor Dikko Umaru Radda may perform better than his predecessors.
FEaturEs Group Features Editor: Chiemelie Ezeobi Email: chiemelie.ezeobi@thisdaylive.com, 07010510430 18 THISDAY • WEDNES Day OCTOBER 11, 2023
Governor Dikko Umaru Radda of Katsina State has executed future building projects tailored to the diverse needs of the citizens in one hundred days of assuming office, writes Francis Sardauna
Governor Radda
On assumption of office one hundred days ago, Governor Dikko Umaru Radda of Katsina State came with the Building Your Future Strategic Policy, which is to recreate the state and make the people live more amply, with the provision of physical and economic infrastructure
Canvassing for Biodegradable Materials to Eradicate Plastic Waste
Saving the environment and improving the health of the citizens is a forte the Nigerian Swedish Alumni Association wishes to take to the latter.
First, the group called on the government to use biodegradable materials against plastics to protect the ecosystem and natural resources.
Then, he encouraged citizens to ensure proper disposal of plastic waste to save the earth and make it a haven even for generations unborn.
These points are highlighted in the maiden edition of the Plastic Free Week 2023 in Lagos.
The awareness programme partnered with the Dockyard Apprentice School, the Swedish Embassy, the Lagos State Waste Management Agency (LAWMA), and the National Inland Waterways Authority (NIWA).
“The government needs to reduce the use of nylon and plastics and encourage biodegradable materials that can easily decompose," says the President of the Nigerian Swedish Alumni Association, Mr. Chuka Igwe.
He suggested another way to reduce plastic is for the government to ban single-use plastics.
I've emphasised that single-use plastics should be discouraged in society unless necessary.
"Also, through the collection and recycling of plastic waste and processing it into new products and reusing plastic more than once are ways to manage plastic waste.”
The Assistant General Manager of NIWA, Aisha Eri, lamented that plastic waste has become a global menace because of consuming a wide range of plastic products worldwide.
She added: "This has brought about the massive amount of plastic waste in our environment.
“It is one of the major pollutants to both land and water.
"When plastic wastes are not properly disposed of, they can end up in the oceans and rivers, harming marine life."
According to Eri, plastic does not break down naturally. Instead, it can persist in the environment for hundreds of years.
She also cautioned that plastic waste in the ocean can harm marine life by entangling
animals or blocking their digestive tracts.
Represented by Blessing Obaje, the AGM warned that plastic waste could adversely affect humans, wildlife, and their habitats.
She also noted: "The environment, ocean, and its resources are vital to the health and well-being of the planet and all its inhabitants.
"Protecting them is essential for preserving biodiversity, regulating the climate, ensuring food security, and providing economic and health benefits."
She, therefore, charged residents to take responsibility for protecting the environment and its resources.
According to the Head of Circular Economy of LAWMA, Dr Essien Nsuabia, “We collaborated with the Nigerian Swedish Alumni Association
to create public awareness on the importance of adequately handling plastic waste. "And also to ensure that plastic waste deposits into the marine environment are reduced to the barest minimum. Plastic waste in the waterways causes harm to sea life and humans," he cautioned.
Meanwhile, participants cleaned up the seabed at the Naval Dockyard to save the earth and waterways.
Rating Agency, Agusto Reaffirms Smart Residences Limited's Bbb- rating
Precious Ugwuzor
Rating agency, Agusto & Co has again assigned a “Bbb-“ rating to Smart Residences Limited (SRL), thus reaffirming the company’s satisfactory financial condition and capacity to meet obligations as and when due.
In 2022, Agusto assigned Bbb- rating to Smart Residences Ltd, noting that the young hospitality and real estate firm presented commendable profitability and cash flow levels.
Augusto said the firm's healthy financials were supported by the steady growth in the company’s operating capacity since its inception in 2020.
It commended the favourable terms with the company's customers and creditors, saying the rating takes into consideration the sensibility of SRL’s operations to extrinsic factors such as, the rising energy and other costs worsened by inflationary and exchange rate pressures and the potential adverse impact on margins.
Smart Residences Limited is a strong player in the hospitality and real estate sector with operations in the Federal Capital Territory, Abuja. The company has shown resilience, creativity and promoted the delivery of beautiful living spaces in the promotion of hospitality in Nigeria.
The company started operation at the peak of the COVID-19 pandemic in 2020 as a provider of serviced short-let apartments (including The Glass Residence and The Residence), to corporate and individual clients, generating revenue and cash flows from rental income. The company owns and operates under the GIDANKA and HOMEAWAY Trademarks.
Today it has expanded with the launching of The Destination, an over 110 upscale serviced-apartment edifice in the heart of
Wuse 2, Abuja and another upscale 40-serviced apartments in the Jabi district of the FC's called HomeAway, giving the company the largest footprint in residential hospitality in Nigeria, boasting of over 200 uniquely designed suites.
The firm is further solidifying its position as the category king in residential hospitality in the country while also diversifying into residential and commercial real estate development through Infinite Acres, a wholly owned subsidiary by developing top of the range residential and commercial real estate
Assets in prime neighbourhoods and locations that can be fully or fractionally owned by buyers and investors.
The Prestige, The Definition, The Metropolis, Uptown and Casablanca Villas are some of the Iconic projects the company has in its pipeline and currently undergoing development.
features 19 THISDAY • WEDNES Day OCtOB er 11, 2023
Smart residence
Recently, the Nigerian-Swedish Alumni Association set out to eradicate plastic waste. Rebecca Ejifoma writes on their call to government to push use of biodegradable materials against plastics to protect the ecosystem and natural resources
Nigerian Swedish Alumni and participants at the Plastic Free Week 2023 cleaning up the lake bed at the Naval Dockyard
JOHN MAYAKI writes that the minister is committed to sustainable development of the Niger Delta
MOMOH AND BURDEN OF REGIONAL DEVELOPMENT
Abubakar Momoh, the Minister of Niger Delta Development, embarked on a transformative journey about a month ago to address the enduring challenges that have long plagued the Niger Delta region. His mission was clear: garner support for the development of this oilrich region and combat the persistent issue of oil theft.
During this period, the minister diligently traversed several states within the Niger Delta region, including Rivers, Bayelsa, Cross River, Akwa Ibom, Ondo, Edo, and Delta. These visits were not mere formalities but integral to a
region to facilitate development initiatives. Several governors proposed the establishment of a forum, comprising the governors of the region and the Ministry of Niger Delta Development, aimed at coordinating efforts and avoiding duplication of projects. Others suggested forging partnerships and joint ventures as means to expedite development, prevent project abandonment, and promote local ownership.
The outcomes of these visits have been highly promising, with critical stakeholders expressing a strong desire to collaborate with the minister in bringing about substantial development in the Niger Delta region. The enthusiastic response from these influential figures bodes well for the future, signaling a shared commitment to driving meaningful progress and addressing the region’s pressing developmental needs.
The minister embodies an approach characterized by proactivity, inclusivity, and strategic thinking. His tenure at the helm of this critical ministry has been marked by a series of deliberate actions and principles shaping the region’s future in profound ways.
comprehensive strategy designed to engage with local communities and their leaders.
At the heart of Momoh’s efforts lies a vision of collective development for the Niger Delta, underpinned by key objectives. These include promoting inclusive economic growth, ensuring shared prosperity among the region’s residents, optimizing abundant resources, increasing revenue generation, enhancing overall wellbeing, and ultimately driving greater regional development.
To achieve these ambitious goals, Momoh actively engaged key stakeholders in the region, including the governors of the nine oil-producing states, influential figures such as former President Goodluck Jonathan, respected traditional rulers, elder statesman Chief E.K. Clark, former Niger Delta militant leader Government Ekpemupolo (Tompolo), and former Niger Delta militant leader Alhaji Mujahid Asari Dokubo, among others. Their collective expertise, influence, and support are indispensable in realizing the vision of a thriving Niger Delta region.
The minister’s extensive visits included meetings with a diverse array of traditional rulers from the seven states covered in the tour. Notable among these were the Pere of Gbaramatu Kingdom, HRM Oboro-Gbaraun II Aketekpe Agadagba and the Chairman of the Delta State Traditional Rulers Council, His Majesty, Major General Felix Mujakperuo (rtd); the Orodje of Okpe Kingdom.
Others included the Oba of Benin, Oba Ewuare II, CFR; Oba Aladetoyinbo Ogunlade Aladelusi, Odundun II; the Chairman of the Ondo State Council of Obas, His Royal Majesty, Edidem Sylvanus Okon, JP; the Paramount Ruler of Uyo; the Chairman of the Traditional Rulers Council in Bayelsa State, His Royal Majesty, King Bubaraye Dakolo; His Majesty, Ohna Sergeant Chidi Awuse, the newly appointed Chairman of the Rivers State Council of Traditional Rulers and Chiefs; and His Royal Majesty, King Ateke Michael Tom, JP, Sekuro of Niger Delta and Amanyanabo of Okochiri Ancient Kingdom, among others.
The primary focus of these engagements was to foster collaborative efforts and partnerships with the state governors and ministers in the
From the outset, Minister Momoh’s commitment to proactivity has been evident. He wasted no time in addressing the longstanding issues afflicting the Niger Delta region. Instead of allowing problems to persist, he initiated a comprehensive plan to combat issues like oil theft and the pervasive specter of underdevelopment, driven by a sense of urgency.
Inclusivity is another fundamental aspect of the minister’s approach. He recognizes that the Niger Delta’s challenges are multifaceted and intricate. To effectively address these challenges, he prioritized the involvement of all relevant stakeholders, from state governors to influential figures and traditional rulers. This inclusivity ensures a broad spectrum of perspectives and expertise when formulating policies and strategies for regional development.
Momoh’s strategic acumen is especially evident in his extensive visits to various states within the Niger Delta region. These visits are not superficial; they represent a hands-on approach to problem-solving. They enable him to gain firsthand insights into specific challenges faced by each state and engage directly with local communities, providing a profound understanding of the region’s needs.
Perhaps the most remarkable aspect of Momoh’s approach is his vision for collective development. He does not see the Niger Delta’s problems in isolation but envisions a future where the entire region thrives together. His broader perspective aims to foster economic growth, ensure shared prosperity among the region’s residents, and drive overall regional progress.
Resource optimization is a vital component of this vision. Minister Momoh’s focus on managing the region’s resources efficiently and ethically reflects his commitment to sustainable development, seeking to enhance revenue generation for the well-being of the Niger Delta’s residents. Momoh’s engagement with influential figures, such as former President Goodluck Jonathan and Chief E.K. Clark, demonstrates his readiness to leverage their experience and influence for the benefit of the Niger Delta region. This collaborative spirit underscores his dedication to finding comprehensive solutions to the complex challenges facing the region.
The SkillupImo programme may help in tackling youth unemployment and insecurity, writes
SONNY ARAGBA-AKPORE
WILL TECHNOLOGY CHANGE THE IMO NARRATIVE?
For the first time in a long while, Imo State recently was in the news for good reasons after the incessant fratricidal attacks on the state and other parts of the South East geopolitical zone by people said to be “unknown gun men”.
Technology took its pride of place on September 27, 2023 when what was likened to the biblical mustard seed bore fruits. Some 15,000 young men and women graduated from what I have chosen to tag “technology incubation” process.
And for the first time in a long while, there was jubilation in state, the type the governor, Hope Uzodinma didn’t get when he was named governor a few years ago.
For the first time too in a long while, Uzodinma was applauded not just for this maverick approach to engage the young people constructively in an attempt to make meaningful changes to their lives, but that his government will actualise their dreams by offering them 4,000 offshore jobs in Europe and
the streets, off crime and criminal gangs. A programme that is expected to give meaning to the lives of 300,000 youths in the first instance and if the government survives the harsh economic realities, increase the number as it boasts of a win-win template. Time will tell.
One of the primary pillars of The Digital Imo Agenda, the SkillUpImo Project in three years, is ambitiously aimed at training and equipping 300,000 people with digital skills and knowledge, get them off the streets to be more useful to themselves and the society, a running document states.
“Such youths will be trained in the fields of Computer Appreciation, Data Analytics, UI/UX, Web Design, Digital Marketing, Content Creation, Phone Repairs, Video Editing, Programming and a host of other fields of digital appreciation. The graduates of such training will not only be able to function within our borders but will be knowledgeable enough to work remotely in other parts of the word,” the document continues. Some of the beneficiary students are being trained in Cohorts or tranches in staggered arrangements.
The first batch of 5,000 students graduated on February 22, 2023. And on September 27, 2023, the second batch graduated 15, 000 students bringing the total figures so far to 20, 000.
elsewhere.
Was he grandstanding or trying to prove a point? We are waiting. But the applause had not died down everywhere before a European Union official allegedly spoke to discountenance this promise of abundance for the Imo youth.
Strangely too, the EU man spoke through the voice of a politician and Uzodinma is one so we should weigh the reality between Uzodinma who has promised life of abundance for his people and the opposition politician who said it was not true.
But like Bob Marley (1978) said in his hit song “Time Will Tell” yes time alone will tell and we wait.
Uzodinma said he will personally hand over employment letters to 4,000 young people in December, 2023.Was he making political statements in the line of pending election in November, 2023? Time alone will tell.
While Uzodinma’s promises may not ring a bell as Dynasty, the Los Angeles, USA, musical group of the 1980s sang, we should grant him the benefit of doubt as he hopes to give hope to the youths who now see him replicating Imo State as paradise on earth. Yes, Time will tell.
I have no way of placing the governor and his government except through repute, but I have encountered his Commissioner for Digital Economy, Chimezie Amadi, while he was on the staff of the Nigerian Communications Commission (NCC) shortly before he joined Uzodinma in Owerri. And with the experience he got at the NCC, Amadi boasted the other day that he was going to Imo to make a difference. Time will tell as we await his victory.
The SKILLUPIMO, a pet programme initiated by Amadi whose idea he incubated and sold to Uzodinma may make the difference as it is calculated to take many young people off
If the Imo State example is replicated across the 36 states including the Federal Capital Territory, Nigeria will be on its way to becoming a major centre for outsourcing human capital.
And Nigeria may be playing in the big league with countries like India where Information and Communications Technology (ICT) human capital development and outsourcing is second to none. China has become the last bus stop for low priced workforce in ICT, construction and industrial experts in the world and of course Cuba which prides itself in medicine and ever ready to export well-trained medical personnel to parts of the globe on request.
The Imo example is calculated to cushion the pains of orphans and the less endowed young people, the poor, the underprivileged and the needy including those who have a strong appetite for knowledge.
Uzodinma wants to clothe them with the garment of knowledge that is likely to transform and translate them from the underprivileged background and provide them the process of joining the ruling class. Time will tell.
There’s hope rising for these young people as they navigate this sure route to a future of promises of life abundance not only for them but also for their families and the society at large. Time will tell.
The state appears to have created a favourable and enabling environment for tech startups, accelerators and innovation hubs which have attracted talents and investors to the state.
“A resultant factor which has led to the forging of beneficial-partnerships between the public and private sector in the tech ecosystem of Imo State.
3 THISDAY WEDNESDAY OCTOBER 211, 2023
is
THISDAY
Aragba-Akpore
a member of
Editorial Board
Mayaki is a journalist, historian and diplomat
16
Editor, Editorial Page PETER ISHAKA
Email peter.ishaka@thisdaylive.com
EDITORIAL
TRAVAILS OF THE NIGERIAN GIRL- CHILD
All critical stakeholders must do more to empower the girl-child
As we join the rest of the world to celebrate the 2023 International Day of the Girl-Child, authorities in Nigeria must reflect on the travails of our young population, made more poignant by the recent abduction of female students in some northern universities. Girls have the right to a safe, educated, and healthy life, not only during their formative years, but also as they mature into women, according to the Nigerian Girl Guilds Association. “If effectively supported during the adolescent years,” it stated, “girls have the potential to change the world – both as the empowered girls of today and as tomorrow’s workers, mothers, entrepreneurs, mentors, household heads, and political leaders.”
The fear arising from wanton attacks are bound to discourage parents from allowing their female children to go to school. Meanwhile, the benefits of keeping the girl-child in school are enormous. An educated woman is likely to ensure some basic level of education for her children, leading to a reduction in national illiteracy rates, and poverty levels in the long term. But the challenges go beyond attacks on schools. With about 70 per cent of families living below the poverty line, it is no surprise that the girlchild is usually the one sent into the streets to hawk, or to go and work as house help for more fortunate families.
A former Nigerian Ambassador to Mali once lamented that the problem of human trafficking had grown in magnitude and sophistication to the extent that several Nigerians in his country of posting were thriving on it. And the targets were young girls between the ages of 10 and 15 who were being recruited from villages by some unscrupulous Nigerians who sell them into lives of misery. According to the diplomat, about 20 to 30 girls were at the time being trafficked to Mali daily, with the promise of securing for them
T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
Letters to the Editor
good jobs only to turn them to prostitutes.
Earlier this year, the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) Director General, Fatima Waziri-Azi, revealed that several rogue labour recruiters are trafficking Nigerian girls to Iraq for domestic servitude. “We’re inundated with pleas for the rescue and repatriation from female victims trafficked to Iraq, especially to the cities of Baghdad and Basra where they’re distributed to homes by their recruiters to a hard life of domestic servitude.” Even though basic education is supposed to be free in the country and some states currently provide one meal a day for pupils, many of the parents also cannot afford to buy for their female wards other essentials which are not provided for under the Universal Basic Education (UBE) programme. The unsuitability of sanitary facilities, such as water and toilets also contribute to keep girls away from school in several communities within the country and understandably so. A girl-child, dealing with the challenges of attaining puberty, needs a safe place to maintain proper hygiene. Rather than have their monthly periods without such safe places, many girls would rather stay away from school; because to stay in school could mean bearing the embarrassment and taunts that come with having their clothes stained.
Overall, it is also important for critical stakeholders to reflect on the impediment placed in the way of the girl-child in our country. Repeated attacks on schools by insurgents have created fear in many vulnerable students and their parents, and is affecting the attitude to education. Yet, according to the United Nations Children Fund (UNICEF), when children are denied opportunity for education “not only are their lives shattered, but the future of the nation is also stolen.” On a day such as this therefore, critical stakeholders must understand the imperative of empowering the girl-child.
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
DRUG ABUSE AND THE MUSIC INDUSTRY
According to Plato, music is a moral law. It gives soul to the universe, wings to the mind, flight to the imagination, and charm and gaiety to life and to everything. This goes to demonstrate power in music, how it is capable of influencing so many life decisions and is capable of changing the course of one’s thoughts.
Drug abuse has been a longstanding issue within the music industry and its relationship can be traced back to various eras and genres, with many musicians openly discussing their drug use and even glorifying it in their lyrics. This is not exclusive to the music industry but its impact is much more predominant there.
One of the reason. for the predominance of drug abuse in the music industry is the perception that drug enhances creativity and is a source of inspiration. Most artists believe drug helps them tap into their emotions, thereby pushing the boundaries of their artistic expression and dynamism. This is seen as stories are told of how numerous musicians created magic under the influence
of drugs.
Furthermore, the industry over time has been associated with a party culture, where drugs are readily available and often times encouraged. Drug abuse has thus been enshrined in our daily dealings. Can a party without alcohol, opioids, meth, etc., be deemed lively? No. That is how deep this has eaten into our perception. Over time, we have come to equate drug abuse to responsible consumption.
The depiction of drugs by the industry is often positive and thus sends mixed messages to the audience and followers. There is no question that seeing or hearing about drug abuse through our sources of entertainment negatively impacts us. It is therefore imperative that musicians are more careful about the messages they send to their followers.
Understanding the difference between portrayal of drugs in the media we consume and the effects of those drugs in real life is critical. Recently, there has been sev-
eral high-profile cases of musicians dying, others losing their minds due to drug overdose and this has brought the issue to the forefront.
However, if you are struggling with addiction there are options for recovery. With proper treatment, recovery is possible. Various individuals and organizations, especially the National Drug Law Enforcement Agency (NDLEA) are working to address this menace by providing mental support, counseling and drug abuse treatment and rehabilitation. Efforts are also being made to educate musicians, industry professionals and fans about the risk and consequences of drug abuse.
Overall, while drug abuse has been a significant issue within the music industry, there is a growing recognition of the need for support education to help musicians lead a better and healthier life, thus creating a safer environment within the industry.
Ikenna Valentine Udechukwu, valentineudechukwu81@gmail.com
4 THISDAY WEDNEDAY OCTOBER 20, 2023
T H I S D AY EDITOR SHAKA MOMODU
EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE
An educated woman is likely to ensure some basic level of education for her children, leading to a reduction in national illiteracy rates, and poverty levels in the long term
DEPUTY
17
Diezani: Weighing British NCA’s Decade-long Investigation
After eight years of doodling, UK’s lead agency for organised crime investigation, the National Crime Agency, NCA, last week charged former petroleum minister, Mrs. Diezani Allison-Madueke, with receiving gifts of furniture, Cartier jewellery and Louis Vuitton goods, etc, to influence oil and gas contract awards in Nigeria. Louis Achi examines the peculiar drama
In jurisdictions with strong rule of law, the requirement of a speedy investigation and trial force prosecutors to diligently build cases within a reasonable amount of time commensurate with the complexity and seriousness of the crimes or civil infractions of which suspects are accused.
The United Kingdom is one such dominion. The right under reference is often codified in fundamental legal documents in several sovereignties, and may be further defined by statutory law.
It is against this backdrop that the puzzlingly Darwinian ‘wild goose chase’ of former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke by Britain’s National Crime Agency, NCA, evokes memories of the whimsical, unending search for the Loch Ness Monster, incidentally an entity within the same jurisdiction.
For those who love fables, the Loch Ness Monster, affectionately known as Nessie, is a creature in Scottish folklore that is said to inhabit Loch Ness in the Scottish Highlands. It is often described as large, long-necked, and with one or more humps protruding from the water. Unfortunately, NCA’s current quarry is neither large, long-necked and lacks protruding humps.
As it were, after eight years of squiggling, UK’s National Crime Agency, NCA, last week told Britons it has charged former Nigerian Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, to court for allegedly receiving payoffs. On this account, Alison-Madueke, appeared in Westminster Magistrates’ Court in London.
According to a report by Reuters, Alison-Madueke was charged with bribery offences, with the NCA saying they suspected she had accepted graft in return for awarding multi-million-pounds oil and gas contracts.
The National Crime Agency, NCA, founded in October 2013 as a non-ministerial government department and domiciled under the Home Office, is UK’s lead agency against organised crime and economic crime that goes across regional and international borders. It has been humorously dubbed the “British FBI” by the media
A key figure in the administration of former President Goodluck Jonathan, Alison-Madueke served as petroleum resources minister from 2010 to 2015. She also served as president of the Organisation of the Petroleum Exporting Countries, OPEC.
According to NCA, “We suspect Diezani Alison-Madueke abused her power in Nigeria and accepted financial rewards for awarding multi-million-pound contracts. These charges are a milestone in what has been a thorough and complex international investigation,” said
POLITY
Edmund’s Terrace London NW8 7QQ; (D) use of Flat 6 Parkwood Point 19-22 ST Edmund’s Terrace, London NW8 7QQ;
“(E) Refurbishment works on the said properties
A-D; (F) Delivery of £100,00 cash on 31st July 2012; (G) Services of staff in connection with the running of the aforementioned properties; (H) Satisfaction of bills associated with the running of the aforementioned properties; (I) Furniture and other goods; (J) Chauffeur-driven cars; (L) flights, both chartered and on Private jets., intending that in consequence, a relevant function or activity, namely THE CONDUCT OF DIEZANI ALISONMADUEKE’s duties as NIGERIAN MINISTER of PETROLEUM RESOURCES, should be performed improperly Contrary to sections 2(2) and 11 of the Bribery Act 2010.”
Five other additional charges also dwelt on a laundry list of petty infractions.
Diezani
Andy Kelly, Head of the National Crime Agency’s International Corruption Unit.”
The NCA said Alison-Madueke was accused of benefitting from at least 100,000 pounds in cash, chauffeur driven cars, flights on private jets, luxury holidays for her family, and the use of multiple London properties.
Charges against her also detail financial rewards including furniture, renovation work and staff for the properties, payment of private school fees, and gifts from high-end designer shops such as Cartier jewellery and Louis Vuitton goods, the NCA said. NCA said she was currently living in St John’s Wood, an upmarket area of West London.
Listed as part of the benefits she allegedly cornered also amusingly included the use of a Range Rover, paying for chauffeured automobiles, furnishings, and purchases from the upscale London department store Harrods and the Italian decorative arts and antiques shop Vincenzo Caffarella.
More specifically, count one of the preferred charge by the prosecutor stated that Alison-Madueke committed the offence on July 1, 2011, in London in the Borough of Westminster.
It reads: “On or About 01/07/2011 at London in the Borough of Westminster accepted a financial or other advantage, namely; (A) The use of the property The Falls 96 Camp Road Gerrard’s Cross Buckinghamshire SL9 7PB; (B) use of the property 39 Chester Close North London NW1 4JE; (C) use of Flat 19 Parkwood Point 19-22 ST
It could be recalled that Graeme Biggar CBE, Director General of the NCA, appointed to the position on October 5, 2021, had demurely said on assuming office: “I am delighted to have been asked to lead the National Crime Agency. The Agency’s mission - to protect the public from serious and organised crime - has never been more important. Serious and organised crime is chronic, corrosive and complex. The people and groups behind it have global reach, are technically sophisticated and digitally-enabled.”
The relationship between NCA’s “serious and organised crime,” and Diezani, spouse of Nigeria’s former chief of naval staff and a former state governor, Rear Admiral Allison Amaechina Madueke, is puzzling. Rear Admiral Madueke is incidentally an alumnus of Britannia Royal College, UK. The subsisting puzzle is hardly helped with the substance of the allegations against her.
The so-called luxurious indulgences are privileges which ordinarily and automatically accrue to the average member of the Nigerian elite. Beyond the morality of the debate, owning private jets and foreign properties out rightly is the vogue. Certainly not renting them - come on.
These “serious and organised crime” by Allison-Madueke traversed the reign of two British monarchs - the venerable Queen Elizabeth II and King Charles III, the NCA may have forgotten to add. Perhaps, there could be more creative ways of accounting for NCA’s princely over 800million-pound annual budget - recently jerked up.
Even recently, the media added to the foggy drama by reporting that Nigeria’s ex-minister of state for petroleum resources, Dr. Ibe Kachikwu, under the President Muhammadu Buhari administration has been named in the charges levelled against Allison-Madueke.
An online newspaper TheCable report had claimed to have sighted the London Magisrate court processes: “Kachikwu was bribed in August 2015 with the intention of influencing his capacity as a foreign public official.” But Kachikwu would have none of that and had promptly dismissed the allegation as baseless.
His words: “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.”
The foregoing and other unfolding developments have helped to provide more haze over Deziani’s London travails than useful light.
It could be recalled that after being arrested in London in 2015 shortly after her tenure as a minister, Allison-Madueke was never charged in London until later October this year. Why so a long wait? She has spent the last eight years on police bail living in St John’s Wood, London.
In her first court appearance at Westminster Magistrates Court, she spoke only to give her name, date of birth and address. She was not asked to enter a plea. All of the charges against her that were read out in court have to do with alleged incidents that happened in London when she was a minister.
Even on the home front the Economic and Financial Crimes Commission, EFCC, the Nigerian anti-graft agency had also gone after the embattled former petroleum resources minister with a mish-mash of dodgy allegations they hardly can substantiate or build a credible case from.
It could also be recalled that a High Court of the Federal Capital Territory sitting at Maitama, Abuja, had restrained the EFCC from seizing four London properties that were wrongly linked to Diezani Allison-Madueke.
The court, in a judgement that was delivered by Justice Olukayode Adeniyi, also barred the Attorney-General of the Federation, the Crown Prosecution Service (United Kingdom), the National Crime Agency (UK), as well as three British Investigators - Helen Hughes, Stacey Boniface and John Bavister- from confiscating the assets. Justice Adeniyi held that evidence before the court established that the said properties legally belonged to a billionaire businessman, Mr. Benedict Peters and his companies.
The judgement followed a suit marked FCT/HC/ CV/0536/17, which Mr. Peters who is the owner of Aiteo, filed alongside his three companies, Colinwood Limited, Rosewood Investments Limited and Walworth Properties Limited.
Mohbad’s Case Mates
Kanayo Olisa-Metuh
The news of Mohbad’s demise hit Ikemefuna Okafor hard, when it filtered into prison. He was a fan, had fashioned his rapping around Mohbad’s easy-flow style. They were both the same age, a mere 27.
Ikem grieved; at the icon’s death, but also, his own. For, in his mind, Ikem too was dead.
Four years to the day, Ikem had been picked up by a SARS patrol near the studio. His was the stock look of his trade—ripped jeans, dreadlocks and tattoos. Explanation fell on deaf ears, the beating increasing the more he tried. He was a suspect. For what exactly, no one said. Until he met his “case mates”, two months later, on his first day out of that stinking police cell, in court.
The case mate system- that astonishing phenomenon of our criminal justice administration. Complete strangers, randomly and separately arrested in far-flung places, charged together for an offence that never occurred. The reason?
To clear space in police cells for new detainees. Once charged to court, detainees now “accused
Mohbad
persons”— are moved on to prison, to the torture chamber called awaiting trial facilities. Robbery was the case they gave Ikem, with two other unfortunates, his case mates. An only child of a single-mother hawker, Ikem had no one to bail him.
Emaciated, wracked by disease, body covered in rashes and sores oozing pus, he currently looks something from the “feem” Resident Evil. Long gone are the dreads, replaced by suppurating blisters on a prematurely bald scalp. The melodious voice? Distant memory too. Ikem only croaks now.
Apart from that one day in court, Ikem has never left prison in four years. Longer residents of the Awaiting Trial (Male) cell told him that it was common, that his case file, if there ever was one, is probably, nay certainly, lost. Like theirs.
At first, Ikem prayed for salvation. But the longer the days from his arrest, the less he did. Eventually, he stopped. The mental and physical torture, the suffering, pain, and anguish were just too much. He is convinced he’s been cursed. Perhaps a generational curse. Because what else can make people be this wicked to a fellow human being?
Ikem and thousands like him, and their case mates, are still in a Nigerian prison near you, right now, this very moment, suffering indescribably. As of this year, out of 74,872 inmates in Nigerian prisons, only 22,933, less than one-third, are convicted prisoners. 51,939 are awaiting trial. And by law, they are all presumed innocent.
Until you see prison conditions in Nigeria, you will probably not know what real suffering is. And when you see the ATM cell in most prisons, you will wonder how much worse hell can get.
Nigerian prisons, now re-baptised “correctional centres,” are emblematic of our greatest failings as a nation and people. They are a testament to our uniform inability, whatever the tribe, tongue or creed, to care about problems that afflict the masses, talk less of solving them.
As you “feel among” today by fulminating on Instagram, albeit rightly, over Mohbad’s untimely death, spare a thought for his innocent Nigerian “case mates,” wishing for death as a release from the Nigerian correctional facility. Like Ikemefuna Okafor, erstwhile rapper, and fine boy, to whom Nigeria happened in the worst possible kind of way.
•Kanayo Olisa-Metuh, an advocate for reform in the Nigeria criminal justice system wrote from Abuja. Disclaimer – This is a work of fiction; Ikemefuna Okafor and the events are fictitious. Any resemblance to actual persons, living or dead or actual events is purely coincidental.
22 perspective
WEDNESDAY OCTOBER 11, 2023 • THISDAY
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H1 2023: UBA Outperforms GTCO, Others in Capital Adequacy, Liquidity Ratio
Kayode Tokede
Aside leading the banking sector in profitability as of half year ended June 30, 2023, United Bank for Africa (UBA) also outperformed other Tier-1 and Tier-2 banks in Capital Adequacy Ratio (CAR) and Liquidity Ratio (LR) to maintain soundness and resilient financial system, THISDAY investigation has revealed.
Specifically, UBA in its H1 2023 reported 36.40 per cent CAR from 28.30 per cent reported in 2022 financial year and declared 71 per cent LR as of H1 2023 from 68.30 per cent reported in 2022 FY.
The Central Bank of Nigeria (CBN) has in recent years maintained LR in the banking sector at 30 per cent LR is used to measure a
company’s capacity to pay off its short-term financial obligations with its current assets, while CAR is used to measure how much capital a bank has available, which is reported as a percentage of a bank’s risk-weighted credit exposures.
Recently, the CBN stated that the Financial Soundness Indicators (FSIs) in the banking system remain stable and strong adding, “The CAR stood at 11.2 per cent, and LR of 48.4 per cent, as at end June 2023.”
A former acting CBN governor, Mr. Folashodun Shonubi, attributed the 11.2 per cent CAR in June 2023 from 14.1 per cent to foreign exchange unification, stressing that the figure remains above the prudential requirement.
The apex bank required all banks to maintain LR of 30 per, while other banking groups with
international authorisation and those that have been categorise as being Domestic Systemically Important Banks (D-SIBs) to maintain a minimum CAR of 15 per cent, while a minimum CAR of 10 per cent will be applicable to all other banks.
The Basel III standard is a voluntary global regulatory framework that addresses bank capital adequacy, stress testing, and market liquidity risk.
According to the CBN, the goal of the guidelines was to specify the minimum Liquidity Coverage Ratio (LCR) standards for reporting companies in the banking system.
GTCO was close to UBA in CAR, closing June 30, 2023 at 24.70 per cent from 24.08 per cent in 2022FY.
GTCO in a presentation to investors & analysts said, “ The
Group continued to maintain strong capital positions with Full IFRS 9 impact CAR of 24.7 per cent (Bank:20.4 per cent); 970basisi points above the regulatory minimum of 15perr cent and 870basis points over if adjusted for one per cent loss absorbency ratio.”
According to the bank, “Tier 1 capital remained a very significant component of the Group’s CAR closing at 22.72per cent representing 91.9 per cent of the Group’s CAR of 24.7 per cent. The robust capital position provides the Group the needed headroom required for future expansion and risk taking.”
It explained further that the Group’s capital has also been sensitised for Basel III compliance at three levels of Naira devaluation:
N750, N850 and N900/$1 and found robust enough to meet the requirements of additional capital buffers - conservation and counter-cyclical under Basel III and impact of the expect growth in the value of the FCY Risk weighted Assets of the Group Balance sheet.
On LR, GTCO closed June 30, 2023 at 37.50 per cent from 49.90 per cent reported in 2022 FY which above minimum 30 per cent requirement of CBN.
“Despite the pressure from competition and the need to cover for regulatory CRR debits, the Group maintained average liquidity ratio of 36.6per cent during the period under review, ”the bank added.
However, Zenith Bank followed by Access Holdings closed June 30, 2023 with CAR of 22p er cent and 18per cent, respectively.
According to THISDAY investigation, Zenith bank closed 2022FY with 19.80 per cent CAR, while Access Holdings declared CAR of about 20.20 per cent in 2022 FY.
In the period under review, Access Holdings said, “Strong capital position with CAR at 22 per cent. This is above the regulatory threshold of 15 per cent. Tier 1 capital represents 75 per cent of total regulatory capital at N1.22trillion. Capital has undergone sensitivity and scenario assessments at various devaluation levels, and it is robust enough to satisfy the necessary capital requirements for the business.”
The bank added that LR closed at 50 per cent in H1 2023 from 39.5 per cent in 2022FY.
The story continues online on www.thisdaylive.com
Inflation: IMF Caution Against Premature Rate Reduction
Eromosele
Abiodun and Nume Ekeghe in Marrachech
The International Monetary Fund (IMF) has has stated that it supports further monetary policy tightening in a bid to tackle inflation, whih it described as enemy of the poor.
The IMF said prematurely easing of policy measures could
leave the economy vulnerable to heightened shocks. Despite the postponement of the last Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) originally scheduled for September 25 and 25, 2023, the recent stance of the MPC has leaned towards maintaining a tightening approach.
President Bola Ahmed Tinubu, at the beginning of his term, emphasized his intention to reduce interest rates in the country, a stance that some analysts believe the newly appointed governor and deputy governors of the CBN may consider at the upcoming meeting, set to take place next month.
However, the IMF in its Africa: Special Issue launched at the
ongoing 2023 Annual Meetings in Marrakech, Morocco, stressed the need for further tightening of monetary policy to address rising inflation.
The IMF’s African Department Director, Abebe Aemro Selassie, maintained that maintaining a further increase in benchmark interest rate is aimed at mopping up funds from the rich whilst
helping the poor.
Stating that a further tightening is “pro poor”, he said countries that had sustained a hawkish monetary policy had been able to address and halt rising inflation.
The report released last night specifically stated that, “in economies with stillelevated and persistent inflation, further mandatory
tightening remains appropriate until there are clear signs that inflation is on track to meet the authorities’ inflation goals. This is critical to safeguard credibility and keep long term inflation expectations anchored.”
The story continues online on www.thisdaylive.com
BUSINESS WORLD Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com 08056356325
23
MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE OPR 11.25% CALL 19.12% INDEX LEVEL 611.31% 1/4 TO DATE -0.07% N795.28/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 16.25% 1-DAY 0.03% YEAR TO DATE 0.48% *AS AT M ONDAy, J ULy 24, 2023 3-MONTH 15.75% MONTH-TO-DATE -0.7%
THISDAY • W EDNESDAy, OcTO b ER 11, 2023 BONDS DESCRIPTION Price Yield Change (%) Updated Time ^13.53 23MAR-2025 100.95 12.78 0,00 October 10, 2023 ^12.50 22JAN-2026 98.65 13.18 0,00 October 10, 2023 ^16.2884 17MAR-2027 108.14 13.25 0,00 October 10, 2023 ^13.98 23FEb-2028 99.32 14.18 -1,00 October 10, 2023 ^14.55 26APR-2029 100.15 14.50 0,00 October 10, 2023 Market data a s at t uesday, Oct O ber 10, 2023 BILLS MATURITY Discount Yield Change (%) Updated Time NTb 26-Oct23 1.80 1.80 0.00 October 10, 2023 NTb 9-Nov23 3.50 3.51 0.00 October 10, 2023 NTb 7-Dec23 3.92 3.95 0.00 October 10, 2023 NTb 25-Jan24 3.28 3.31 -0.01 October 10, 2023 NTb 8-Feb24 5.81 5.93 -0.01 October 10, 2023 OTC FX FUTURES CONTRACT TENOR (MONTH) Contract Current Rate ($/₦) Updated Time 1 NGUS OcT 30 2024 –October 10, 2023 2 NGUS NOV 27 2024 –October 10, 2023 3 NGUS DEc 24 2024 –October 10, 2023 4 NGUS JAN 29 2025 –October 10, 2023 5 NGUS FEb 26 2025 –October 10, 2023 CP S MATURITY Discount Yield Change (%) Updated Time JULI cP II 25-OcT-23 16.92 17.04 0,00 October 10, 2023 ZEDc cP I 17-NOV-23 14.64 14.86 0,00 October 10, 2023 NSDL cP IIA 22-NOV-23 19.13 19.57 0,00 October 10, 2023 MTNN cP V 23-NOV-23 11.20 11.35 0,00 October 10, 2023 NSDL cP IIb 23-NOV-23 19.11 19.56 0,00 October 10, 2023
IFRS17: Insurers in Race Against Time
Barely three months to December 31 2023 when insurance operators are expected to commence financial report filing based on the new IFRS17 model, insurance firms are dusting their tables and financial books to close the chapter on IFRS4 reporting model.
In a bid to be prepared, insurance companies invested in training. In fact, some employees of insurance firms sent to European and other western markets for training on the new model of reporting are just returning to work this week.
Some workers from Sovereign Trust Insurance, Leadway and AIICO said they are good to go on the transition and migration process. Yet there are some laggards who owned up that they have not done much.
The industry regulator NAICOM had directed insurance firms to migrate from IFRS4 model of financial reporting to IFRS17 model allowing firms to prepare their 2022 report based on IFRS4 but to convert to IFRS17 within a period of grace but that the converted report is not for public consumption.
The commission however said all insurance firms must file in their 2023 report in 2024 based on IFRS17.
PuRPoSe oF IFRS17 MIgRATIon
Finance experts said the purpose of IFRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts it undertook.
According to them, information from the IFRS17 gives a basis for users of financial statements to assess the effect that insurance contracts have on the entity’s financial position, financial performance and cash flows.
According to the experts, the IFRS 17 requires a company to measure insurance contracts using updated estimates and assumptions that reflect the timing of cash flows and any uncertainty relating to insurance contracts. This requirement will provide transparent reporting about a company’s financial position and risk.
Nigeria adopted IFRS in 2012 because the level and quality of disclosure prior to the adoption of IFRS was poor. The benefits expected to derive from the adoption and implementations include easier access to external capital and an increase in foreign direct investment.
IFRS generally is issued by London based accounting standard board (IASB) and addresses record keeping, account reporting and other aspects of finance reporting. It replaced the international account standards (IAS) in 2001.
Initially when NAICOM issued the directive on IFRS17, not many firms embraced it as many criticised and kicked against it but today the firms have all bowed to NAICOM as many firms are running around looking for how to upscale their operations.
oPeRAToRS’ LeveL oF PRePARedneSS
Speaking on the level of preparedness of his company, the International Financial Reporting Standards (IFRS 17) Project Manager at AIICO Insurance Plc, Mr. Mayowa Korode said the IFRS 17 was developed to bring consistency to financial reporting around the globe for companies reporting under IFRS 17, and to compare
insurance companies to those operating in other sectors of economy.
Korode maintained that AIICO Insurance was fully ready for the implementation, adding that the Company’s first and second quarters 2023 reports were done in IFRS 17 model.
Speaking at the annual training for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) sponsored by AIICO Insurance in Lagos, Korode noted that the most fundamental element of change that IFRS 17 brought was the closer alignment of the accounting to the underlying economics of insurance.
He said AIICO Insurance as a company was ready for full implementation of the new standard.
“IFRS 17 is a comprehensive standard to account for insurance contracts applicable to companies that prepare financial statements under IFRS. It replaces IFRS 4, which was not a comprehensive standard. The new standard provides a single global accounting standard for insurance contracts, “he said.
Explaining the existing issues in IFRS 4 and how IFRS 17 addresses the problem, he said IFRS 4 has a variety of treatments depending on type of contract and company; estimates for long-duration contracts not updated; discount rate based on estimates does not reflect economic risks; lack of discounting for measurement of some contracts and little information on economic value of embedded options and guarantees.
He however said IFRS 17 provides consistent accounting for all insurance contracts by all companies; estimates updated to reflect current market-based information; discount rate reflects characteristics of the cash flows of the contract; measurement of insurance contract reflects time value where significant and measurement reflects information about full range of possible outcomes.
The Balance Sheet in IFRS 17, he noted, required a current measurement model, where estimates are re-measured in each reporting period.
The measurement, according to him, is based on the building blocks of discounted, probability-weighted cash flows, a risk adjustment, and a
of financial performance and position; enhanced disclosure and transparency and a clear distinguishing of insurance activities from investment activities.
While commending the National Insurance Commission for the roadmap for the implementation of IFRS 17 for the insurance industry in Nigeria, he said the commission was working seriously since 2019 towards ensuring the full adoption of IFRS 17 in the Nigerian insurance industry
nAICoM’S RoAdMAP
Since its announcement of the new model of finance reporting in 2019, NAICOM has not rested on its oars.
Indeed, the commission seems to be much more prepared compare to other stakeholder who seem to be foot dragging. Some operators have alleged that NAICOM has vague understanding of the new model of financial reporting.
contractual service margin (‘CSM’) representing the unearned profit of the contract.
“For income statement, requirements in IFRS 17 align the presentation of revenue with other industries. Investment components are excluded from revenue. Under IFRS 17, entities have an accounting policy choice to recognize the impact of changes in discount rates in profit or loss or in other comprehensive income (‘OCI’) to reduce some volatility in profit or loss, “he added.
On Disclosures, he said, IFRS 17 disclosures will be more detailed than required under current reporting frameworks; disclosures will provide additional insight into key judgements and profit emergence, adding that disclosures are designed to allow greater comparability across entities.
On its part, Sovereign Trust Insurance said it was already on right track regarding the migration.
Spokesman of the company, Mr. Segun Bankole said the company already had prepared its 2022 account based on the new model and has converted same to IFRS17 as directed by the regulator.
Expressing satisfaction at the position of his company as one of the early adopters of the new model, he said he has just received about five employees of the company sent to foreign markets for training on the new model.
Also, Leadway Assurance Limited said it was already on course towards the implementation of the International Financial Reporting Standard17.
Mr. Raphael Akomolede of finance department of the company gave insights on the position of Leadway regarding the implementation of the IFRS 17.
He said the company had completed solution design which takes care of gap analysis, financial and operational impact assessment; designed future state of finance process/technology gap analysis; development, documentation and review of target operating model; preparation of technical documents and reviews and vendor selection for IFRS 17.
He said the impact of IFRS 17, included improved comparability for the first time; relevant and updated measurement of insurance contract liabilities; a more intuitive presentation
The commission said in its efforts to get insurance firms ready for the new finance reporting model, it had set up sub-working groups to facilitate the migration.
Aside this, the commission had created a road map for the IFRS implementation, thus charging insurance firms to conduct awareness training and capacity building workshops, set up project groups and meeting committee, perform financial and operational impact assessment, design project implementation and covering technical, financial and operational impact assessment.
They are also to put up project implementation update and project status report and send same to NAICOM.
They are also to determine desired system landscape, tackle issues identified during the impact assessment as well as design actuarial and financial target operating model and execute plan implementation. The insurers were also required to perform resource allocation, submit quarterly project status report to NAICOM and educate stakeholders and conduct core training on IFRS.
They were further required to implement new processes and system, new accounting policies choices and performance financial statements, etc.
exPeRTS’ vIew
Meanwhile, finance experts said the Federal Inland Revenue Service (FIRS) has important role to play in the migration because the present tax payment system by insurance firms is not compatible with the IFRS system.
According to the experts, FIRS needs to amend its tax laws to suit the IFRS system.
The expert said with IFRS system, government cannot generate as much revenue as it used to generate from insurance industry before.
The experts also said with IFRS 17 implementation, organisations need a lot of data which they would use to run their cash flow and this as we know is one of the problems of insurance sector although stakeholders are making efforts in this regard.
The experts further said with migration to IFRS 17, organisations would pay heavily on new software developments, especially with the current high exchange rate, emphasising that the insurance companies would rely on Western market for new softwares for the new model, since Nigerian software developers are not yet conversant with the model.
24 Wednesday, OctO ber 11, 2023 • THISDAY b U s I nessWO r L d I ns U rance
Come December 31, 2023, insurance sector operators will bid farewell to IFRS4 model of financial reporting to usher in the regime of IFRS17, a more detailed and more transparent system of reporting. e bere n woji presents findings on level of insurers’ preparedness
CBN: Currency in Circulation Reached
N2.76tn
Nume
Ekeghe
Latest data released by the Central Bank of Nigeria (CBN), has revealed that the currency in circulation reached N2.76 trillion as of September 2023.
This marks a 14.5 per cent year-onyear (y-o-Y) decline from the N3.23 trillion reported in September 2022. Currency in circulation refers to physical cash, including paper notes and coins, used for transactions between consumers and businesses within a country.
The N2.76 trillion in circulation
in September 2023
is the highest recorded in 2023, as stated by the CBN. In August, the currency in circulation was reported at N2.66 trillion, representing a 3.80 per cent increase from September 2023.
Notably, the currency in circulation had fallen significantly to N982.1 billion by the end of February 2023 due to the CBN’s naira redesign policy. The redesign was initiated by the CBN to address challenges in currency management, such as counterfeiting, illegal activities involving cash, and public hoarding of banknotes.
At the inception of the policy, over 80 per cent of the currency in circulation was held outside the banking system. However, following the conclusion of the policy in March 2023, the circulation of cash increased steadily, with N1.68 trillion in circulation at that time. The currency in circulation had experienced a substantial 235.03 per cent decline, falling from N3.29 trillion at the end of October 2022 to N982.1 billion by the end of February 2023. During this period, the CBN withdrew N2.32 trillion from circulation.
The CBN had previously announced the redesign of three existing banknotes (N200, N500, and N1000) with new notes set to circulate from December 15, 2022, while the old notes remained legal tender until January 31, 2024. In the months leading up to September 2023, the currency in circulation fluctuated, with amounts reported as follows: N2.78 trillion in August, N2.81 trillion in July, N2.74 trillion in June, N2.79 trillion in May, N2.79 trillion in April, N2.8 trillion in March, N2.78 trillion in February, and N2.83 trillion in January.
Heirs Insurance Group Launches Digital Insurance Centre
Ebere Nwoji
Heirs Insurance Group, has announced the launch of digital insurance space – the Heirs Insurance Experience Centre. Located on the ground floor of the Transcorp Hilton, Abuja, the experience centre provides a comprehensive one-stop shop for all insurance products and services offered by the Group.
The Heirs Insurance Experience Centre is a digital
space, featuring a full-display interactive screen, enabling users to easily view an array of insurance policies to determine the best policy, purchase insurance plans seamlessly and file a claim or chat with the Prince chatbot for faster issue resolution.
Commenting on the launch, Chairman Heirs Holding, Mr. Tony Elumelu, underlined the commitment of the Heirs Insurance Group to transform
the lives of Nigerians and drive financial inclusion.
He said, “We are redefining the insurance experience, as we believe our customers deserve simple, seamless, and reliable access to financial security anytime, anywhere. The Heirs Insurance Experience Centre showcases our digital channels and tools, which are transforming the insurance experience, another clear demonstration of our promise of service excellence,
accessibility, and innovation.”
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents, founded and led by Tony Elumelu. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs General and Heirs Life serves both corporate and individual customers across Nigeria.
NAMB Encourages Students on Savings and Financial Literacy
Nume Ekeghe
The FCT Chapter of the National Association of Microfinance Banks (NAMB) is urging students to cultivate the habit of saving money instead of spending it all on immediate consumption.
During a Corporate Social Responsibility event held at Government Secondary School Area 11 Garki, the Chairperson of NAMB, Nwanna Joel-Ezeugo and Chief Executive Officer of Hasal MFB, emphasised the importance of financial literacy among students.
In a statement, she expressed that teaching students about the significance of saving would enable them to make investments
for their future. The outreach to the school aimed to instil confidence in the students and educate them about how spending without saving can hinder the achievement of their future goals.
Joel-Ezeugo stated: “We want to encourage them to stay focused on their education because doing so will enable them to become responsible citizens.”
Additionally, NAMB donated school materials worth N1.3 million to facilitate the students’ academic learning.
Joel-Ezeugo highlighted that the collective effort of microfinance banks in the FCT was essential for making a meaningful impact on the lives of children and preparing
them to be better citizens. The association is also planning to construct classroom blocks in schools to provide students with an improved learning environment, demonstrating its commitment to education and the future of children.
The Vice Chairman of NAMBS and CEO of Prudent MFB, Francis Akie, explained that the outreach aimed to familiarise children with financial products and emphasize the benefits of saving at a young age. He emphasised that without savings, there is a greater inclination to consume.
Chief Executive Officer of MicroBiz MFB, Joe Onyeabor, emphasised that microfinance banks are the closest financial
institutions to the people and, as such, it is crucial to expose students to financial literacy and inclusion from an early age.
Chief Executive Officer of Fedeth MFB, Joseph Oyibo stated that the outreach targeted over 500 students and aimed to provide financial literacy to help them understand the role of banks, especially microfinance banks. He emphasised the importance of responsible financial management, highlighting that not all financial resources should be immediately spent on consumption. This outreach was the first of its kind organized by the association and is expected to expand to other areas in the FCT in the future.
Issues bothering on unlocking policy and technological bottlenecks hindering disruptive insurance penetration in Nigeria formed the thrust of discussions at the two day Insurance Meets Tech Conference (IMT 2.0) organised by the Modion Communications in Lagos. Organisers of the conference said this year’s edition of the Insurance Meets Tech Conference held at the Civic Centre Victoria Island, Lagos, marked a significant milestone in Nigeria’s insurance and insurtech sectors.
Industry leaders and delegates from about 70 organisations, including technology, insurance, insurtech, and Health Maintenance Organisations (HMOs), converged at the event to discuss the future of insurance and technology in the country. The conference revolved around collaboration between underwriters and technology service providers with the goal to enhance customer experiences, build trust, and expand service reach across Nigeria.
Speaking on the success of the conference Managing Director of Modion Communications Odion Aleobua, said the collaboration was a response to the significant increase in health insurance premiums, contributing to Nigeria’s cumulative insurance premium exceeding N1
trillion in 2022.
He said the conference highlighted technology’s pivotal role in the industry, particularly emerging technologies like Artificial Intelligence, adding that the technologies have the potential to drive significant growth and financial stability. The conference emphasised the need for infrastructure, entrepreneurship, and consumption to fuel digital transformation.
He noted that Insurtech played a crucial role in helping the insurance industry navigate challenging times.
Panel discussions at the conference focused on leveraging insurtech for innovative product development, customer acquisition, engagement, and retention, all essential in the ever-evolving landscape.
Delegates at the conference called on regulators to collaborate with innovators to identify barriers to innovative solutions within the industry while advocating for stringent regulations for underwriters.
They also emphasised the need for tech service providers to be audacious in developing sales channel solutions that facilitate market penetration.
Odion said the conference underscored the need to leverage digital technology and telemedicine to improve the quality of health insurance services, particularly in underserved rural areas where specialised medical services were lacking.
KL Insurance Limited, a general insurance underwriter has received the National Insurance Commission (NAICOM)’s approval to play in Agric Insurance underwriting class of business.
The company said with the approval, it has positioned itself to drive Agricultural Insurance in Nigeria to the next level and provide farmers with necessary financial protection against losses.
Managing Director, Chief Executive Officer of KBL Insurance, Mrs. Ukachi Orji, said the management of the company was motivated by the drive to bring its specialists’ touch to providing lasting solutions and sustainable options to Nigerian farmers, whose businesses over the years, have faced a lot of difficulties,
particularly lack of access to funds.
“We think it is a double jeopardy for the farmer, who amidst this situation, occasionally suffers disasters such as wildfire, pest attacks and some loss of crops and animals among others. KBL’s Agro Solutions are the answers to these long years of waiting, by our farmers. “We are here to lend them the shoulders to lean on, and cushion the effects of their various losses”, she guaranteed.
She said KBL Insurance Limited recently disbursed various sums of money to individuals and organisations to the tune of N1,991,051,388.85 as various claims settlements in the recent time.
The KBL Insurance Managing Director spoke at the 2023 edition of the South East Poultry Summit and Expo, which held recently in Enugu.
25 THISDAY • Wednesday, OctO ber 11, 2023 b U s I nessWO r L d n e W s
KBL Insurance Secures NAICOM’s Approval to Underwrite Agric Insurance Confab Deliberates on Future of Insurance, Technology
Ebere Nwoji
Ebere Nwoji
L-R: Group Head, Agric Finance and Solid Minerals, The Alternative Bank,Mr. Gbenga Awe; Group Head, Corporate and Investments Banking Solutions,Mr. Lukman Adekola; Executive Director, Sterling Bank Limited,Mr. Tunde Adeola; and Group Head, Digital Business and Innovations, the Alternative Bank,Mr. Mohammed Yunusa, at the launch of Gold investment on Altinvest, in Lagos… recently Photo: EtoP UKUtt
Shell Sees Better Earnings from Gas Trading in Q3
Emmanuel Addeh in abuja
Shell Plc has said its earnings from gas trading rebounded in the third quarter from the dip seen in the prior period.
After bumper profits in 2022 resulting from the severe energy market volatility caused by Russia’s invasion of Ukraine, the performance of oil majors’ trading divisions had shifted back toward historical norms this year.
Even so, Europe’s appetite for liquefied natural gas remains high, giving companies like Shell the opportunity to boost margins by diverting cargoes away from other regions, Bloomberg reported.
While Shell’s production of
Liquefied Natural Gas (LNG) was affected by scheduled maintenance, trading and optimisation performed better than it did from March to June, according to a statement from the company.
Oil trading results are also expected to be higher on the quarter, while earnings at the chemicals and products unit are expected to be in line with the weaker performance seen in the second quarter, Shell said.
Often overlooked, petrochemicals is smaller than the oil and gas segment yet still a sizable part of Shell’s operations. Weakness in the global economy has been a drag on the business, with Exxon Mobil Corporation saying earlier that a
boost to its earnings from higher oil prices and refining margins will be partially offset by a drop in chemicals profitability.
Adjusted earnings at Shell’s renewable and energy solutions business will be flat or lower, according to the statement.
Under new Chief Executive Officer Wael Sawan, who took the top job in January, Shell is refocusing on its core oil and gas business in an effort to improve returns to investors and narrow the valuation gap with its US peers.
The move is causing anxiety among some Shell employees in the clean-energy division, but has been welcomed by many investors.
Moniepoint Makes CB Insights’ Fintech 100 List for Second Consecutive Year
Kayode Tokede
For the second year in a row, Moniepoint Inc, has announced its listing in the sixth annual CB Insights’ Fintech 100 ranking (previously the Fintech 250), showcasing the 100 most promising private fintech companies of 2023.
CB Insights is regarded by top industry analysts as the most trusted source for technology market insights. The Fintech 100 includes a mix of companies at different stages of maturity, product development, and funding. The cohort has raised nearly $22billion in equity funding across 381 deals since 2019.
Utilizing the CB Insights platform which fuses machine learning, algorithms, data and visualizations, the research team
selected these Fintech 100 winners from a pool of more than 19,000 private companies, including applicants and nominees. These companies were chosen based on factors, including equity funding, investor profiles, business relationships, R&D activity, news sentiment analysis, competitive landscape, and proprietary Mosaic scores, as well as criteria such as tech novelty and market potential.
The Group CEO of Moniepoint Inc, Tosin Eniolorunda in a statement said, “We are honored to be recognized by CB Insights as one of the top 100 fintech companies of 2023. This listing validates our unwavering commitment towards powering dreams and driving financial happiness for everyone. It is
also a strong reflection on our momentum in terms of growth, innovation and making a real difference in the marketplace.”
He said, “our team has worked tirelessly to deliver innovative solutions that empower individuals and businesses across Africa with accessible, efficient, and secure digital financial services. This recognition is testament to our efforts in enhancing financial inclusion and transforming the lives of millions across the continent.”
It will be recalled that Moniepoint Inc which has been named as Africa’s second fastestgrowing company by the reputable Financial Times servicing over 1.7 million businesses, and helping them process over $100 billion in 2022.
International Offshore Rig Count Takes Downturn
Emmanuel Addeh in a buja
With 11 units less than the month before, Baker Hughes’ international rig count report showed a sharp drop in the number of offshore rigs in September 2023 as total number of international rigs also saw a fall in activity, slumping to 940 from 952 units in August 2023.
This followed a boost of four units in August 2023, Baker Hughes disclosed ,although offshore rigs were up by five units on a year-over-year basis last month.
Moreover, the company’s report pointed out that
the total number of active international drilling rigs – including onshore and offshore ones – slipped down by 12 units last month, reaching 940, which is higher by 61 rigs than last year’s count of 879 with land rigs going up by 56 units and offshore rigs rising by five units.
In comparison to the figures from the month before, land rigs slid down by one unit to 716 in September 2023 while offshore rigs fell by 11 units to 224, according to Rig zone. Nigeria’s rig count was 18 in August, up from 14 the previous month, a growth of four units.
Furthermore, the average US rig count for September 2023 was 632 units, down 15 rigs from the previous month’s count of 647 and down 131 units on a year-over-year basis while the average US rig count for August 2023 was down 117 units year-over-year.
The average Canada rig count for September 2023 was 188 units, down 1 rig from the prior month’s count of 189 rigs and down 23 units year-over-year.
Meanwhile, the worldwide rig count for September 2023 was 1,760 units, down 28 rigs from 1,788 units counted in August 2023, and down 93 units from 1,853 rigs counted in September 2022.
WAPP Completes Construction of Information Centre, to Commence Day-ahead Trading
Emmanuel
With the completion of the construction and equipping of the West African Power Pool, (WAPP) Information and Coordination Centre (ICC), the organisation is finalising arrangements to commence a day-ahead electricity trading in the regional market.
WAPP is a specialised institution of the Economic Community of West African States (ECOWAS). It covers 14 of the 15 countries of the regional economic community, including Benin, Côte d’Ivoire, Burkina Faso, Ghana, Gambia, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
A statement by the Transmission Company of Nigeria (TCN) disclosed that the dayahead energy market will now allow transactions for the buying and selling of electrical power one day prior to the delivery day.
Speaking at the WAPP 59th Executive Board Meeting holding at Calavi, Cotonou, Benin Republic, the Executive Board Chairman and Managing Director TCN, Dr Sule Abdulaziz, said that the regulatory document for activation of the next phase of the market was undergoing approval process at the ECOWAS Electricity Regulatory Authority (ERERA). Abdulaziz disclosed that in preparation for the new phase of the electricity market in West
Africa, operators were currently undergoing training on the working of live trading system to ensure that once approval is granted, the transition would be seamless.
The WAPP chairman added that with support from the World Bank, the organisation was recruiting 11 new engineers to bolster the capacity of the ICC.
He stressed that the study for the restructuring of the secretariat in fulfilment of legal requirements for an independent system and market operator had kicked off.
“Building and equipping of infrastructure alone does not guarantee the success of the market. Equally important is the behaviour of the market participants,” he said.
26 Wednesday, OctO ber 11, 2023 • THISDAY b U s I nessWO r L d ne W s
Addeh in abuja
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 07Oct-2023, unless otherwise stated.
Offer price: The price at which units of a trust or ETF are bought by investors.
Bid Price: The price at which Investors redeem (sell) units of a trust or ETF.
Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.
NAV: Is value per share of the real estate assets held by a REIT on a specific date.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS
TRADED
INFRASTRUCTURE FUND
WEDNESDAY, OCTOBER 11 2023 • THISDAY MARKET NEWS 27 The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.82 1.85 13.75% Lotus Halal Fixed Income Fund 1,212.43 1,212.43 8.35% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 16.13 16.25 38.54% Meristem Money Market Fund 10.00 10.00 11.27% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.06 102.06 11.82% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.63% Norrenberger Dollar Fund (NDF) ($) 102.06 102.06 11.66% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.03 2.08 2933.00% PACAM Fixed Income Fund 12.08 12.38 930.00% PACAM Money Market Fund 10.00 10.00 2.61% PACAM Equity Fund 1.90 1.93 3405.00% PACAM EuroBond Fund 129.08 131.84 1573.00% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 157.83 161.88 25.55% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.09 1.09 10.04% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,637.49 4,674.18 36.79% Stanbic IBTC Bond Fund 254.31 254.31 7.96% Stanbic IBTC Ethical Fund 1.91 1.93 52.38% Stanbic IBTC Guaranteed Investment Fund 347.18 347.30 10.89% Stanbic IBTC Iman Fund 368.81 373.34 57.92% Stanbic IBTC Money Market Fund 1.00 1.00 9.69% Stanbic IBTC Nigerian Equity Fund 17,023.77 17,233.53 55.93% Stanbic IBTC Dollar Fund (USD) 1.44 1.44 11.52% Stanbic IBTC Shariah Fixed Income Fund 126.41 126.41 8.13% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 123.37 123.37 15.97% Stanbic IBTC Absolute Fund 4,897.55 4,897.55 15.12% Stanbic IBTC Aggressive Fund 4,884.54 4,945.10 75.68% Stanbic IBTC Conservative Fund 5,091.48 5,116.95 33.82% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.24 1.25 35.52% United Capital Balanced Fund 1.71 1.73 32.36% United Capital Wealth for Women Fund 1.33 1.34 23.68% United Capital Sukuk Fund 1.15 1.15 11.18% United Capital Fixed Income Fund 1.92 1.92 6.62% United Capital Eurobond Fund 122.83 122.83 5.63% United Capital Global Fixed Income Fund 1.06 1.06 8.46% United Capital Money Market Fund 1.00 1.00 9.35% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 17.99 18.20 29.86% Zenith ESG Impact Fund 21.28 21.50 34.64% Zenith Income Fund 24.96 24.96 5.96% Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 6.67 6.77 65.49% Vetiva Consumer Goods Exchange Traded Fund 11.33 11.43 93.12% Vetiva Griffin 30 Exchange Traded Fund 23.83 24.03 34.57% Vetiva Money Market Fund 1.00 1.00 10.78% Vetiva Industrial Goods Exchange Traded Fund 26.17 26.37 30.81% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26% EXCHANGE
FUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Equity Exchange Traded Fund 21.56 21.66 39.21% SIAML Pension ETF 40 231.00 231.00 79.46% Stanbic IBTC ETF 30 Fund 333.00 333.00 230.19% MERGROWTH ETF 17.40 17.50 56.76% MERVALUE ETF 16.40 16.50 67.15% REITS Fund Name NAV Per Share Yield / T-Rtn SFS REIT 123.55 8.57% Union Homes REIT 55.51 4.70% Nigeria Real Estate Investment Trust 101.48 UPDC REIT 9.87 -13.57%
Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 108.39 0.00% info@anchoriaam.com MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 261.31 262.46 38.08% Afrinvest Plutus Fund 100.00 100.00 8.13% Nigeria International Debt Fund 338.81 338.81 13.01% Afrinvest Dollar Fund 108.80 109.90 5.03% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.02% Anchoria Equity Fund 180.91 183.34 24.81% Anchoria Fixed Income Fund 1.27 1.27 3.53% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 29.03 29.91 32.30% ARM Discovery Balanced Fund 638.28 657.52 22.46% ARM Ethical Fund 51.92 53.48 15.08% ARM Eurobond Fund ($) 1.16 1.16 3.07% ARM Fixed Income Fund 1.14 1.14 3.16% ARM Money Market Fund 1.00 1.00 8.64% ARM Short Term Bond Fund 0.00 0.00 -100.00% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 94.47 94.47 4.26% AVA GAM Fixed Income Naira Fund 1,132.74 1,132.74 5.72% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 173.98 186.61 33.20% AXA Mansard Money Market Fund 1.00 1.00 9.19% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 6.24% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 24.03 24.51 39.94% Women's Investment Fund 187.53 190.40 34.53% CHD Nigeria Bond Fund 100.20 100.20 12.38% CHD Nigeria Dollar Income Fund 1.02 1.02 11.07% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.18% Cordros Milestone Fund 156.83 157.82 22.32% Cordros Fixed Income Fund 108.95 108.95 9.95% Cordros Halal Fixed Income Fund 110.03 110.03 11.70% Cordros Dollar Fund ($) 113.73 113.73 7.17% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 10.45% Coronation Balanced Fund 1.44 1.45 26.21% Coronation Fixed Income Fund 1.40 1.40 2.75% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 12.93% Emerging Africa Bond Fund 1.09 1.09 10.21% Emerging Africa Balanced Diversity Fund 1.25 1.25 29.18% Emerging Africa Eurobond Fund 105.94 105.94 5.61% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1606.74 1606.74 11.77% FBN Balanced Fund 269.60 272.02 35.01% FBN Halal Fund 134.89 134.89 13.13% FBN Money Market Fund 100.00 100.00 9.93% FBN Dollar Fund 126.53 126.53 7.46% FBN Smart Beta Equity Fund 248.90 252.20 50.30% FBN Specialized Dollar Fund 112.30 112.30 9.31% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.89% Legacy Debt Fund 3.55 3.55 -0.77% Legacy Equity Fund 2.55 2.60 27.42% Legacy USD Bond Fund 1.31 1.31 4.12% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 5,317.18 5,358.01 34.12% Coral Income Fund 3,929.16 3,929.16 7.57% Coral Money Market Fund 100.00 100.00 10.57% FSDH Dollar Fund 1.18 1.18 0.00%
NGX, SecondSTAX Partner to Drive Investment Across Africa into Nigeria’s Capital Markets
Kayode Tokede
SecondSTAX has announced a new partnership with the Nigerian Exchange Limited (NGX) that will enable institutional investors from across Africa to directly invest into Nigeria’s capital markets.
The new partnership was established in close collaboration with Afrinvest (West Africa) Limited, a leading capital market holding company in Nigeria active in six principal areas: investment banking, securities trading, asset management, trustee, consulting and financial technology.
This joint effort will make it easier for licensed brokerdealers, asset managers, large commercial banks and other institutional investors from across the continent to invest in Nigeria’s premier exchange via SecondSTAX’s transparent, easy-to-use, cloud-based portal.
The CEO and co-founder of SecondSTAX, Eugene Tawiah said, “Our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with the Nigerian Exchange Limited represents a major milestone on our journey. Nigeria’s capital markets are full of lucrative opportunities that have until now been out of reach to institutional investors outside the country. At the same time, Nigeria’s institutional investors have largely found it challenging to invest into other capital markets across the continent. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”
CEO, Nigerian Exchange Limited, Temi Popoola commended SecondSTAX for its visionary solution to drive institutional investments across
Africa.
According to him, “This closely aligns with our ongoing efforts to foster innovation and growth in our market through initiatives such as the African Exchanges Linkage Project, which aims to integrate capital markets in the continent; and our partnership with Afreximbank’s Pan African Payments Settlement System (PAPPS) to facilitate seamless cross-border transactions within the African capital markets.”
Group Managing Director of Afrinvest, Ike Chioke said “As a leading capital marketing holding company, we are always at the forefront of driving innovations that grow Nigeria’s capital market. We are delighted to be in partnership with SecondSTAX to enable more opportunities to drive capital inflows into Nigeria’s capital markets and increase investment options for investors in Nigeria.”
HealthTech Startup Emerges Winner of ALAT’s Hackaholics 4.0
Nume Ekeghe
The Hackaholics Digital Summit and Grand Finale hosted by Wema Bank/ALAT concluded on a high note, with Jane Agbaohwo, Founder and Creative Director of “Ireti,” a health tech startup aimed at addressing the issue of late diagnosis of breast cancer, winning the coveted grand prize of N15 million.
Team Ireti claimed their prize during the weekend at the grand finale, where they emerged as winners from a pool of more than 3,000 applicants.
Hackaholics was initiated in 2019 to create a platform for fintech communities to collaboratively solve industry-identified challenges following the launch of ALAT, Wema Bank’s innovative digital banking platform.
The event, themed, “Reimagine: Disrupting the Ecosystem for Scale,” attracted a
distinguished audience, including top executives from Wema Bank, industry stakeholders, regulators, investors, startup founders, and tech enthusiasts.
The event featured the grand finale, where 10 finalists pitched their solutions to a captivated audience. The judging panel included Director of Retail at Wema Bank, Ayodele Olojede, Chief Information Officer at Wema Bank, Adeoluwa Akomolafe and Managing Director of Endeavour Africa, Ireayo Oladunjoye.
In his remarks, the Managing Director /Chief Executive Officer, Wema Bank, Moruf Oseni, expressed his gratitude to attendees, ranging from key stakeholders to startup founders.
He emphasised the bank’s unique combination of traditional banking expertise and deep-rooted technology integration, which has allowed them to support the growth of Nigeria’s tech
ecosystem.
Oseni said: “We also recognize that any economy that is serious about sustainable economic and social development must pay serious attention to science, technology, engineering, and mathematics, education and practice. entertainment and sports have put Nigeria on the global landscape in a positive light. But they cannot help to predict technology and infrastructure deficits that will see Nigeria achieve its true potential.
“And this is this is the absolute truth. That’s why this event is extremely important to unshackle the best of our minds in science, engineering, technology and mathematics. As responsible citizens, we decided to play our part. This led us to focus on hacking all these events on campus locations across the country, the hotbed of critical ideation and disruptive innovation in our country.”
Access Bank’s ‘W’ Unveils 5th Edition to Promote Women’s Health
Nume Ekeghe
In a bid to promote sound health among women, Access Bank Plc via the ‘W’ Initiative is set to embark on the fifth edition of its annual women’s Health Month program in October 2023. The bank reiterated the importance of women’s health and seeks to make a positive impact on the lives of women in our community.
Through this month-long campaign, the bank hopes to raise awareness about the significance of regular health check-ups, and
preventative care, educate women on health-related concerns and elevate the overall quality of healthcare available to women in Nigeria.
In a statement, the Group Head, W Initiative at Access Bank, Abiodun Olubitan, said: “Access Bank has consistently led the way in empowering women and our commitment remains steadfast. This October, the W Initiative has carefully planned a series of activities to empower millions of women across the country through expert health insights,
education, and health screening opportunities. These include free cervical cancer screenings, free hepatitis B screenings, discounts on annual health packages, informative health talk sessions at our branches, a complimentary virtual therapy session on World Mental Health Day, an engaging W health webinar on PCOS, Sexual wellness and Menopause, free eye screenings in observance of World Sight Day and a wide array of other inspiring events to support the health journey of our female clientele.”
H&Y Furniture, Ecowood, Signs Joint Venture Agreement
Sunday Ehigiator
Nigeria’s leading furniture manufacturing company, Home and You Limited (H&Y Furniture Manufacturers) has signed a joint venture agreement with a top Lebanese furniture company, Zinaline Zarl and its fully-owned Nigeria subsidiary, Ecowood Manufacturing Limited in Lagos. The two companies would now operate under the new Joint Venture (JVC), called H&YZ Furniture Manufacturers Limited.
In a joint statement released after the partnership, they
revealed that the partnership is expected to expand the capacity, market penetration and production of H&YZ Furniture, making it a leading furniture manufacturer, exporter and distributor in Nigeria and sub-Saharan Africa.
“H&Y Furniture Manufacturers, led by Mrs Feyisola Abiru, is a dynamic and innovative company specialising in designing, producing, and installing highquality furniture solutions.
“With a legacy dating back to 1997 and a commitment to excellence, H&Y has earned a reputa-
Money
tion for its modular manufacturing processes, which ensure precision, efficiency, and consistent quality. Whether furnishing corporate offices, educational institutions, hospitality spaces, or residential areas, H&Y’s unique approach combines cutting-edge technology with a focus on durability and innovation.
“The company stands out in the Nigerian furniture market, offering customizable, durable, and aesthetically pleasing products that transform spaces while maintaining a keen eye on environmental sustainability. “
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).
business/ MOn e YG ui D e • Monetary Policy Rate - 13%
• Source - CBN MONEY AND CREDIT STATISTICS (M i LL i O n n A i RA) August, 2023 Money Supply (M3) 65,445,154.2 -- Cbn bills Held by Money Holding sectors 552,553.58 Money supply (M2) 64,892,600.61 -- Quasi Money 40,870,301.28 -- narrow Money (M1) 24,022,299.33 ---- Currency Outside Banks 2,295,309.10 ---- Demand Deposits 21,726,990.23 net Foreign Assets (nFA) 7,144,158.92 net Domestic Assets(nDA) 58,300,995.27 -- net Domestic Credit (nDC) 87,273,966.81 ---- Credit to Government (net) 32,511,333.17 ---- Memo: Credit to Govt. (net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 54,762,633.63 --Other Assets net 13,347,376.27 Reserve Money (base Money 19,429,603.25 --Currency in Circulation 2,660,138.92 banks Reserves 16,769,464.34 special intervention Reserves 428,519.21
MARKET INDICATORS
Market Indicators
Month August 2023 Inter-Bank Call Rate 3.89 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 18.75 Treasury Bill Rate 5.13 Savings Deposit Rate 5.26 1 Month Deposit Rate 7.31 3 Months Deposit Rate 7.55 6 Months Deposit Rate 8.30 12 Months Deposit Rate 8.13 Prime Lending rate 13.99 Maximum Lending Rate 27.59
(in Percentage)
OPEC DAILY BASKET PRICE As At 29t H s epte M be R , 2023 28 W e D nes DAY, OCtO be R 11, 2023 THISDAY
L-R: Head of Tourism, Culture & Art, Sterling Bank, Abiola Adelana; Speaker, Osun State House of Assembly, Mr. Adewale Egbedun and Commissioner of Tourism, Arts & Culture, Lagos State, Mrs. Toke Benson-Awoyinka at the World Tourism Day Celebration held in Lagos...recently
Stock Market Down N64bn on Profit-taking in Presco, 26 Others
KayodeTokede
The Nigerian stock market yesterday reversed the prior day’s gains by N64 billion in market capitalisation following investors profit-taking activities in Presco Plc and 26 others.
The Nigerian Exchange Limited (NGX) All Share Index (ASI) declined by 116.46 basis points or 0.17 per cent to close at 66,984.87 basis points from 67,101.33 basis
points.
Accordingly, market capitalisation shed by N64 billion to close at N36.801 trillion from N36.865trillion it opened for trading.
Analysts at InvestmentOne Research said, “The local bourse closed negative due to the downward performance seen in the Banking and Consumer Goods sectors.
“Going forward, we expect
investor s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”
Analysing by sectors, the NGX Banking depreciated by 1.1 per cent, NGX Insurance dropped by 0.7 per cent, and NGX Consumer Goods dipped by 0.1 per cent,
while the NGX Industrial Goods and Oil & Gas indices closed flat. As measured by market breadth, market sentiment was negative, as 13 stocks lost relative to 27 gainers. McNichols recorded the highest price gain of 10 per cent to close at 66 kobo, per share. Capital Hotel followed with a gain of 9.82 per cent to close at N3.02, while Chams Holding Company rose by 9.38 per cent to close at N1.40, per share.
Associated Bus Companywent up by 8.82 per cent to close at 74 kobo, while Oando appreciated by 7.61 per cent to close at N9.90, per share.
On the other hand, John Holt led the losers’ chart by 10 per cent to close at N1.44, per share. Presco followed with a loss of 9.54 per cent to close at N182.00, while DAAR Communications declined by 8.70 per cent to close at 21 kobo, per share.
b
Deap Capital Management and Trust went down by 7.41 per cent to close at 25 kobo, while Jaiz Bank depreciated by 6.25 per cent to close at N1.50, per share.
The total volume traded declined by 4.2 per cent to 257.42 million units, valued at NGN7.80 billion, and exchanged in 6,498 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 53.396 million shares valued at N442.890 million.
/10/23
mARKET NEWS
29 THISDAY • WEDNES Day, OCTOBER 11 PRICES FOR SECURITIES TRADED ASOF OCTO
ER
MAIN bOARD DEALS MARKET PRICE qUANTITy TRADED vALUE TRADED ( N ) MAIN bOARD DEALS MARKET PRICE qUANTITy TRADED vALUE TRADED ( N )
30 WEDNESDAY OCTOBER 11, 2023 • THISDAY
Coscharis Unveils Technology Academy to Build Capacity in IT
Uchechukwu Nnaike
Coscharis Group, in collaboration with some international partners, has launched the Coscharis Technology Academy to train people in all areas of information technology.
Speaking during the unveiling of the academy in Lagos recently, the Chairman of Coscharis Group, Mr. Cosmas Maduka, said at inception, it was clear to the company that it ought to build an institution that will be timeless in its relevance, which would plough back resources to society.
He said the company had started a training centre in its automobile business, in partnership with the Lagos State government, where high school students are awarded diplomas in technical skills, and it has become a resource pool for the company because a number of times it takes up to 30 persons from there.
He added that the company always believes in its capacity to make individuals believe in themselves to excel.
Coscharis Technologies
Managing Director, Mr. Sunday Mukoro, said the organisation partners with an Indian firm for technology training and
World Teachers’ Day: Governor Yahaya Vows to Address Human Resource Gap in Education, Teachers’ Welfare
Segun Awofadeji in Gombe
NCC Education, UK, which offers various certifications.
He said the academy, which will take off in November, will cater to people of all levels of education and will offer ICT certifications and award degrees like BSc in all courses because it is affiliated with about 45 universities via NCC Education.
He said the company hopes to close the knowledge gap in technology training to transform the country through technology positively.
According to him, given the advances in technology worldwide, Nigeria must embrace technology to improve the economy, as the focus on oil keeps diminishing.
Coscharis Deputy Group Managing Director, Mr. Fred Amobi, said the company hopes to reduce the unemployment rate in the country by equipping youths with the requisite skills that will enable them to fill secure jobs and function optimally.
While urging people to take advantage of the opportunity to improve their capabilities in information technology, he expressed hope of replicating the academy in other states and countries where the company operates.
FEDIOSA AGM: Stakeholders Solicit Old Students’ Support to Develop Alma Mater
Uchechukwu Nnaike
As the Federal Government College, Ikom Old Students’ Association (FEDIOSA) recently held its sixth annual general meeting in Lagos, the central message of all stakeholders was the need for old students to contribute towards the development of their alma mater.
According to the National President of the association, Mr. David Udoh, the event, with the theme ‘Make it Happen, Make it Count’ was organised to engender among members, a spirit of creating visions and seeing them come to pass. He said the achievements of the old students would be extended to the current students of the school.
He regretted that unity schools, are in a bad shape due to poor funding by the federal government, hence the setting up of old students’ associations so that members can pull resources together and give back to the school.
He said the association is doing a lot within its power to renovate facilities at the school, adding that in the past, different class sets have done different things like renovating the assembly hall, toilets, hostels and the school gate to give it a better ambience.
As part of activities to mark the school’s 35th anniversary next year, Udoh said the old students plan to refurbish the sporting facilities, which have all collapsed.
On the desire by some old
Governor and Chairman of the Northern Governors’ Forum, Muhammadu Inuwa Yahaya, has restated his administration’s commitment to promoting the welfare and professional growth of educators and addressing infrastructure and human resource gaps to boost performance and productivity across all levels of education.
The governor stated this in his goodwill message at the commemoration of this year’s World Teachers’ Day recently. He emphasised that teachers are the bedrock upon which
the aspirations of future leaders are built, making their role indispensable to the progress of any society.
He acknowledged that teaching, though challenging, remains one of the most honourable professions on earth and praised teachers in Gombe State and Nigeria at large for their invaluable contributions and sacrifices towards societal development, acknowledging their relentless efforts in imparting knowledge and wisdom.
On the theme of this year’s World Teachers’ Day, ‘The teachers we need for the education
we want: The global imperative to reverse the teacher shortage’, Yahaya stressed the transformative and critical role teachers play in nurturing the potential of learners.
He reaffirmed his administration’s commitment to addressing the shortage of qualified teachers.
The governor said 1,000 graduates were recently employed by his administration as teachers to address the human resource gap and reposition the state’s education sector to keep pace with the 21st-century challenges and realities.
“Under our administration,
Gombe State has witnessed remarkable progress in the education sector. We have invested in infrastructure and facilities, including modern materials, to enhance performance and productivity at all levels of education,” the governor stated. “Notable achievements include the construction and renovation of over 1300 classrooms, upgrading five Legacy Secondary Schools to Mega Schools with specialized facilities, and the enrolment of over 400,000 out-of-school children through the Better Education Service Delivery for All (BESDA) programme.”
Expert Calls for Scientists’ Oversight in Laboratory Planning, Construction
students’ associations to take over the running of their schools from the government, the president said “if government is able to fund the schools, then I will rather they remain with the government. If government is willing to hand over the schools, we can do it if we have a model that can work, because right now we are not funded by government, but we are pumping in millions of naira for the school to be where it is right now.”
He said the government could begin with the older schools that have the capacity and alumni membership that can fund the school and manage it properly.
The keynote speaker, Mrs. Blossom Mac-Isika, called on members of the association to set meaningful goals, pursue education as a tool for personal and societal development, and take proactive actions to achieve success.
She also encouraged individuals to find their purpose and make a positive impact in their communities and the world.
“By instilling these principles, we can inspire and empower future generations to reach new heights and create a brighter future for all,” she said.
Speaking on the topic ‘Alumni Growth and Engagement’, the guest speaker, Mr. Rex Biose, tasked alumni members to provide financial support for their Alma mater, and to have engagement in the life of the institution and the alumni community at the class set.
Experts are seeking a paradigm in laboratory planning and construction, calling for a more prominent role for scientists in the design process.
Traditionally, architects, engineers and project managers have taken the lead in lab construction, but a growing consensus suggests that scientists should play a central role in shaping the future of their workspaces.
The Managing Director of Finlab Group, Mr. Uzo Nwaije Jnr. argued that “scientists understand their research needs better than anyone else. They are intimately familiar with
the intricate requirements of their experiments, the safety protocols, and the equipment necessary for success. As a result, they are uniquely positioned to provide insights that can optimize laboratory functionality and safety.”
He said the call for scientistdriven design is gaining traction in academic institutions and private research organisations.
“In recent years, collaborative efforts between scientists and architects have resulted in state-of-the-art research facilities that seamlessly integrate form and function,” he said.
Nwaije noted that architects
and builders, who once operated independently, are now collaborating closely with scientists to incorporate cuttingedge features, energy-efficient designs, and flexible spaces that can adapt to evolving research needs.
Moreover, he said safety considerations are paramount and involving scientists in the design phase ensures that laboratories are equipped with the latest safety measures, protective equipment, and emergency response protocols.
He said the shift towards scientist-led lab design is a win-win situation, benefiting
researchers and the public. He pointed out that “it not only enhances the quality of scientific research but also fosters innovation and discoveries that can have a far-reaching impact on society.”
He added that the changing landscape of laboratory design brings to the forefront a simple yet powerful principle that scientists are best suited to plan and design the spaces where they work.
“By giving them a seat at the design table, we are fostering an environment where groundbreaking discoveries can thrive,” Nwaije said.
Kogi to Partner Edtech Firm to Boost Education
The Kogi government has disclosed a 10-year plan for human capacity development and is exploring potential partnerships with educational technology company Edves and leading Lagos private schools.
This was disclosed by the Special Adviser to the Kogi State Governor on Economy, Finance and Investment, Mr. Abdulkareem Siyaka, during a guided tour of three schools in Lagos recently.
The schools visited were Vivian Fowler Memorial College for Girls, Divine Offspring Primary School, and Dansol High School, all in Ikeja. Siyaka stated that the state had declared free education from the basic to secondary
school level and is looking to sustain it, hence the partnership with Edves.
“With about 75 per cent of our population consisting of young people primarily engaged in basic, secondary, and tertiary education, we recognide that the quality of education they get would influence our state’s future.
“We have over 2,000 public schools in Kogi, and about 45 per cent of them are unity schools. We have over 800,000 youths who require skills to become more useful in the workplace, and we really want to invest in training facilitators, in curriculum development, staff hiring, internet connection, and all of
these involve cost.
“This is why we are actively seeking strategic partnerships and resource providers, with a strong focus on sustainability to drive long-term productivity within the framework of our 10-year plan,” he said.
According to him, by the end of next year, the state plans to have a tertiary vocational institute in each of the three senatorial districts, where candidates will be trained in bricklaying, trading, plumbing, painting, and other entrepreneurial skills.
The schools visited are active users of the learning management technology by Edves, and the head teachers of each of the schools attested
to the user-friendliness and record-keeping abilities of the platform, saying that it has made teaching and learning processes much easier.
Mrs. Naimat Ishola, head of Divine Offspring School, stated that the group of schools has for two years integrated the Edves Suite into its system and both parents and pupils also benefit from the technology.
This position was also maintained by head teacher of Vivian Fowler Memorial College for Girls, Mrs. Krishman Niyatha, who added that parents and guardians could easily monitor the progress of their wards in different subjects as they access the platform.
Education 31 THISDAY • WEDNES Day OCTOBER 11, 2023
L-R: The Managing Director, Coscharis Technologies, Dr. Sunday Mukoro; President/CEO Coscharis Group, Dr. Cosmas Maduka; Deputy Group Managing Director, Mr. Fred Amobi; Country Manager, API, Mr. Emmanuel Ezehiwele, during the grand opening of the Coscharis Technologies ICT Academy in Lagos... recently
FG Urges Nigerians to Use Efficient Cooking Fuels Like LPG
Bennett Oghifo
Minister of State for Environment, Dr. Iziaq Adekunle Salako, has said that it was imperative for Nigerians to switch from inefficient cooking fuels like fuelwood, charcoal, and kerosene to LPG and other efficient cooking solutions as the nation strives to meet its Nationally Determined Contribution (NDC) under the Framework Convention on Climate Change and in it resolve to achieve netzero carbon emission by 2060.
This is besides the health
complications associated with the use of these inefficient fuels, particularly among the vulnerable population who are mainly women and children.
Dr. Salako, who gave the advice during the Nigeria Clean Cooking forum, held recently at Tsukunda House, Abuja, stated the importance of sustainable cooking practices which, he said, would help to reduce air pollution and improve public health.
He also stressed the need for collaboration between the government, private sector, and
civil society to implement practical solutions and commended the Nigerian Alliance for Clean Cooking for its efforts towards achieving this objective. The minister said, “As Nigeria strives to meet its obligations under the Nationally Determined Contributions (NDC) and the long-term carbon emission reduction commitments by 2060, it is crucial to have a joint collaborative effort to encourage Nigerian households to switch from inefficient cooking fuels like fuelwood, charcoal, and kerosene to LPG and other
efficient cooking solutions. The future of our planet depends on it, and the Nigerian Alliance for Clean Cooking is the best means of achieving this noble objective.”
The Chairman, Senate Committee on Ecology and Climate Change, Senator Seriake Henry Dickson, pledged to facilitate inter-ministerial and interagency collaboration on clean cooking advocacy at all levels of government.
He also promised to push the clean cooking agenda further on policy forums like
the National Economic Council where all state governors meet.
Senator Dickson assured that the Senate Committee is developing a template for engaging with all relevant ministries and agencies to optimise national assets in advancing clean cooking in Nigeria and promised that the legislature would work with the Nigerian Alliance for Clean Cooking to promote clean cooking in Nigeria.
Senate Committee Chairman on Environment, Senator Yunus Akintunde, also committed to ensuring that the clean cooking
sector becomes more sustainable and accessible to all Nigerians. He said, “We are determined to work closely with relevant stakeholders, especially the Nigerian Alliance for Clean Cooking, on legislative measures that would accelerate the transition towards cleaner and healthier cooking practices in Nigeria.”
The Country Director of Heinrich Boell Foundation, Jochen Luckscheiter, highlighted the importance of sustainable development in addressing the pressing environmental challenges faced by the country.
AVEVA, Kent Sign MoU to Grow Innovation, Sustainability in Global Energy Sector
Fadekemi Ajakaiye
AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has signed two contracts with Kent, the leading engineering company in oil and gas and low-carbon energy. As part of a system integrator agreement, Kent will be enabled to implement life cycle digital solutions to industrial customers, according to a statement by the company.
The second contract is an enterprise agreement for engineering, procurement and construction (EPC) for Kent digital projects delivery.
These agreements are built on a strategic memorandum of understanding (MoU) in 2022 between the two companies. Kent is now an AVEVA registered system integrator, ensuring the continued application of AVEVA’s engineering and operations software for key players in the energy sector. Over the past year, AVEVA and Kent have
successfully delivered leading digital projects. The new system integrator agreement extends the potential of those gains to other companies.
“Our continued partnership allows for better collaboration within Kent’s team across all phases of project delivery while enhancing data integrity, transparency and project execution for energy customers. Thanks to Kent’s industry and digital expertise alongside AVEVA’s EPC4.0 and digital twin solutions, customers can realise on-time and on-budget deliveries of capital assets and enhanced operations.”
Tush Doshi, COO, Kent, said, “AVEVA’s software solutions will help Kent to deliver projects on time and on budget. We are pleased to build on our partnership with AVEVA as we strengthen our digital services. AVEVA’s technology expertise, combined with Kent’s leadership in energy and digital services, will help us create cutting-edge digital and innovative solutions
that meet the evolving efficiency and sustainability targets of our customers.”
Caspar Herzberg, CEO, AVEVA, said, “Our collaboration with Kent sets a new standard in the delivery of digital services for the energy sector. The strategic partnership combines Kent’s deep domain knowledge, digital skills and service with AVEVA’s leadingedge portfolio to accelerate decarbonisation, efficiency and drive sustainability across the energy industry. This confluence of expertise and technology will empower customers to connect intelligence and insight for agile and innovative responses to the sectoral challenges during times of change and opportunity.”
Digital transformation improves project and sustainability outcomes.
The agreements will bridge a significant market gap. Across the industrial world, 60% of oil and gas capital projects of $1 billion or more experienced schedule delays and 38% faced
cost overruns, according to a 2019 analysis by consultancy firm EY. Such delays and overruns stem from challenges such as competing project execution priorities, issues with data reliability, and a lack of transparency and control throughout the project lifecycle.
As energy sector companies
NCF, Stanbic IBTC Collaboration to Yield 30,000 Trees
Fadekemi Ajakaiye
There is a grand collaboration between the Nigeria Conservation Foundation (NCF) and the Stanbic IBTC Bank that is designed to yield 30,000 trees across 10 states in Nigeria.
At a ceremony to begin the programme, with the planting of the first set of trees at the Lekki Conservation Center (LCC) in Lagos, recently, the Director-General of the NCF, Dr Joseph Onoja, stated that the
activities of man had impacted negatively on the environment, thus making nature to fight back, especially as shown in the coastal lines of the Lekki Ajah corridor.
Onoja lauded the Stanbic IBTC Bank for believing in the vision of the NCF in the restoration of Nigeria’s forest cover to 25 per cent, saying, “I will continue to portray the bank as an environmentally responsible entity at any forum I find myself.”
He said, “As the Nigerian Conservation Foundation, the foremost conservation NGO, we started 40 plus years ago, when it was not fashionable to talk about environmental conservation in Nigeria.
“We are standing on the shoulders of giants, one of them we just lost some few days ago in the person of Chief Akintola Williams; he was one of our Board of Trustees members.
“We have degraded so much of our forest that we have less than 10 per cent of our forests than we had in the 1960s when we got independence.
“We learnt the art of deforestation and logging without the art of proper forest management and that is where we find ourselves today.
“This is why we came up with the Green Recovery Nigeria project to build back at least 25 per cent of our forest cover,” Onoja said.
The Chief Executive Officer of Stanbic IBTC Holdings, Dr Demola Sogunle said the flag-off the planting of 30,000 trees in 10 states of the federation was a testament to Stanbic IBTC’s unwavering dedication to a sustainable future, adding that they were doing it with an immense sense of pride and
gratitude.
Trees, he said, “transcend the mere symbols that embodied life itself. They function as the lungs of our planets, furnishing us with oxygen that we breathe in and absorbing the carbon dioxide.
“Moreover, they act as guardians of biodiversity, providing shelter and sustenance to innumerable species.
“In collaboration with the NCF, as part of the Green Recovery Nigeria initiative, we are amplifying this chorus of life by 30,000 voices, 30,000 stories of hope, resilience and rejuvenation.
“We have sawn not only trees, but the seeds of a brighter tomorrow.
“However, this moment transcends the sheer number of trees we are planting, it is about the profound impact these trees will have.
“It is about the shades they will cast on scorching days, the habitats they will offer to birds, the sustenance they will provide to ecosystems and the carbon they will capture to combat climate change.
“It is about the educational value they bring to our communities, a reminder of the interconnectedness of all life on Earth.”
look to meet net-zero targets, they are harnessing digital technologies to optimize and de-risk capital project design and operations for improved construction and materials management, and to ensure emissions traceability.
The AVEVA and Kent partnership supports these evolving
goals. Together with Kent, AVEVA will support energy sector clients in unlocking the competitive advantages of sustainability.
New and existing assets can be designed for a net-zero world, and customers can understand the carbon impact of every process engineering decision.
Kreston Global Network Welcomes New Member Firm in Nigeria
Fadekemi Ajakaiye
Kreston Global has welcomed Nigerian firm, Pedabo, to the Kreston Global network.
Founded in 1998 by Ajibade Fashina and Albert Folorunsho, Pedabo will mark its 25th anniversary in November with a rebrand to Kreston Pedabo, part of its strategy to extend its international services offering to a wide range of private and listed companies, according to a statement by Kreston Global.
Made up of 10 partners and 150 staff across three locations in Nigeria, the firm specialise in audit, assurance, tax compliance and advisory, financial advisory and risk management, as well as management consulting and other specialised support services.
The addition of Pedabo to Kreston Global’s network further strengthens its African regional presence, which consists of 30 member firms across 29 countries providing a range of financial, audit and accounting, taxation and other advisory services to businesses exploring inbound and out-
bound growth opportunities.
Liza Robbins, Chief Executive of Kreston Global, said: “Pedabo has built an exceptional reputation in the Nigerian tax, audit and advisory landscape over the past 25 years. The breadth and depth of their expertise make them a trusted business partner for inbound and outbound clients.
“We look forward to working with them to build their standing in the international market, forging links across the network and beyond.
“They will be a great asset to our network and our African firms are extremely excited to be working with them.” Ajibade Fashina, Managing Partner at Pedabo said. “Pedabo is indeed excited to begin this new phase; as founding partners, Albert and I are elated and proud of the progress that we have made in building the Pedabo we see today having truly established a Legacy of Excellence, but we are even more enthusiastic about the next 25 years and the new leadership that will take the firm to new heights with the Kreston brand.
THISDAY • WEDNES Day OCTOBER 11, 2023 32
ProPerty & environment
Senior Executives from the AVEVA and Kent team at the signing ceremony
L-R: Head of Investigation & Fraud Risk, Stanbic IBTC Bank, Ms Rekia Eletu; Deputy Director, Conservation & Ecology, LASG Ministry of Environment & Water Resources, Mr Olabode Adeola; Chief Executive of Stanbic IBTC Holdings, Dr. Demola Sogunle; Director General of Nigerian Conservation Foundation, Dr. Joseph Onoja; and Head of Sustainability, Stanbic IBTC Holdings, Ms. Tosin Leye-Odeyemi, at the flagoff of 30,000 tree planting at Lekki Conservation Centre… recently
53rd AnnuAl AccountAnts conference...
Niger Delta Roads in Deplorable Condition, Clark Tells Tinubu
sunday Aborisade in Abuja
Elder Statesman, Chief Edwin Clark has urged President Bola Tinubu to declare a state of emergency on the deplorable state of roads in the oil-rich Niger Delta region of the country.
Clark, who made the appeal at a news conference in Abuja, yesterday, said the hope of addressing the decline in oil revenue accruing to the government would be a mirage if the infrastructure in the areas were not addressed.
The 96 year-old leader lamented that the country's hope of revamping the national economy was being challenged with the unfortunate state of affairs in the South-South region.
He lamented the recent calamity in the region when 20 were burnt following an accident that occurred
at Koko Junction on the Warri-Benin highway due to bad roads.
He said the dilapidated state of the road spoke volumes of the calamity which the people of the South-South region continue to face daily due to the most inhuman situation of the federal roads in the region.
The Ijaw National Leader noted with regret that despite the fact that the region produced the bulk of the wealth of the country, it's impact was not being felt by his people.
He said, "We see the impact of the natural resource that is daily taken out of our soil here in the Federal Capital Territory, Abuja and almost every other part of the country, we are left to wallow in this total neglect, marginalisation and deprivation."
He said the recent accident at the Koko junction could have been averted if the President Muhammadu
Buhari government had made efforts to look into the state of our roads.
He said, "The East-West Road remains an ugly stain on Nigeria political administrative logic, especially for something considered as a signature project, because of its economic significance.
"No substantial inch of construction work has been added in the eight years of the Buhari Administration. Sections of the road supposedly constructed were washed away like whitewash on walls by the 2022 floods, obviously due to the poor standard of work done.
"As you would expect, that road is right now, especially at the time of this 2023 rainy season, in total disrepair and a death trap where there is daily carnage.
"The connection between Calabar and Itu, that is, in the section be-
tween Cross River and Akwa Ibom remains one of the most dangerous roads in the world, even though the NNPC Ltd is supposed to have taken it over.
"Coming further down, under your government, you have gratefully awarded the section around the Refinery by Eleme Junction. For this, we are grateful.
"However, the connection between Rivers State and Bayelsa State has four major sections which collapsed due to the 2022 floods and has remained unrepaired, such that a normal journey that would have taken one and half hours between the two states now take three hours and more.
"If you continue to the axis between Patani and Warri, there are at least four major spots again where the road has totally collapsed
Integrate Ethics, Anti-corruption Courses into Schools' Curriculum, Group Urges FG
sunday Aborisade in Abuja
The Coalition for Ethics and AntiCorruption Education (CCEAE) has urged the federal government to integrate ethics and anti-corruption education into the core curriculum of tertiary institutions.
The group said it would promote sustainable mainstreaming of national laws, policies and values. It said the idea could be achieved through comprehensive and standardised instruction in these critical areas.
The Programme Director, Network of University Legal Aid Institutions (NULAI), Nigeria, Mrs Odinakaonye Lagi, stated this in a memorandum.
The coalition which is led by NULAI, submitted the memorandum yesterday, to the National Committee for Developing a Road map for the Education Sector in Nigeria.
President Bola Tinubu through the Minister of Education, Prof. Tahir Mamman, set up a seven-member committee to drive education road map in the country.
According to Lagi, the memorandum was for the incorporation of ethics and anti-corruption education as a compulsory multidisciplinary course of study at the undergraduate level in Nigerian tertiary institutions.
"We believe that by investing in
the moral and ethical development of our future leaders and professionals, Nigeria can pave the way for a brighter, more prosperous and corruption-free society."
She added that the goal of the memorandum was to make the National Ethics and Integrity Policy a core value by incorporating Ethics and Anti-Corruption Education in the curriculum of Nigerian tertiary institutions.
This, she said was to cultivate a culture of ethics, transparency, and accountability among Nigerians.
Lagi added: "The proposed curriculum aspires to nurture ethical values and critical thinking skills among undergraduates, empowering them to identify, analyse and respond effectively to ethical dilemmas.
"It will also accord them with skills on tackling corruption issues in diverse contexts both personal and professional.
"Incorporating Ethics and Anti-Corruption Education as a compulsory course of study at the undergraduate level in Nigerian tertiary institutions is a pivotal step toward building a more ethical, transparent and corruption-resistant society.
"It will support increased awareness about the detrimental impact of corruption on society and the economy.
"It will also equip students with
the tools necessary to prevent, detect and report corrupt practices while also educating them about the protection and support mechanisms available to whistleblowers."
She also said the curriculum, when implemented, would support nation-building by contributing to a generation of ethical leaders who understand the principles of good
governance and institutional building in public and private sectors.
Lagi, also acknowledged steps taken by the current administration towards reforming the education system in Nigeria.
"The proposal is to support efforts to promote good governance in line with Nigeria's National Ethics and Integrity policy."
and can no longer be passed.
"The commuters now have to go through bush paths in order to continue their journey.
"Between Warri and Sapele, there are so many bad spots, also washed away by floods and this continues from Sapele to Benin which led to the mammoth death in numbers at Koko junction."
Speaking further, the elder statesman said: "If one may ask, what is the status of the $333 million Bodo-Bonny Road, a project expected to open up opportunities for rapid socio-economic development of the areas, even with a reported contribution of $167 million by the Nigeria Liquefied Natural Gas (LNG) Limited?
"Meanwhile, four years ago, the Minister of Works and Housing, Babatunde Fashola, while addressing the House of Representatives Committee on Works, disclosed that 524 road projects were ongoing in the six geopolitical zones of the country. Fashola said there were four multilateral-funded road projects, 81 under the Presidential Infrastructural Development Fund and 45 others being funded under the Sukuk bond.
"Certainly, billions of naira, from the Niger Delta oil and gas resources have been approved and expended on the construction and rehabilitation of roads and bridges across the country, excluding roads and bridges in the South-South zone."
Clark said some of the roads and bridges reportedly completed or being constructed/reconstructed, among
others, included the Kano-Maiduguri Road linking Kano-Jigawa-BauchiYobe and Borno States Section II, covering over 177km.
He added, "From the information that was made available, in terms of kilometres (length of the roads), the South-South had the least with only 52.2 kilometres.
"The North Central had 1,479.9 kilometres; North West had; North East had; South-East had 122 kilometres and South-West had 119 kilometres.
"What were the reasons for such an absurd distribution? What was the yardstick? He queried.
He also alleged that the then Minister of Works and Housing, Fashola, neglected the South-South zone in the allocation and distribution of projects by his ministry, "in tandem with the established pattern of the Buhari administration."
"Even the housing units being built by the federal government across the country, we are unaware of any being built in the south-south," he added
He said, "Recall that when the $311 million Abacha loot was returned from the United States in 2020, the South-South was excluded in projects designated for the fund, which included the second Niger Bridge, Lagos-Ibadan and AbujaKaduna-Kano expressways, as well as the Mambilla Power Project in North East zone; no project in the South-South zone was listed. That scenario was repeated with the Ibori loot."
We Must Cooperate, Share Intel to End Banditry, Radda Tells Colleagues
Inaugurates security intervention trust fund committee
francis sardauna in Katsina
The Katsina State Governor, Dikko Umaru Radda, yesterday, urged his colleagues in the North-west zone to cooperate and share security information in order to tackle banditry bedevilling the area.
He gave the admonition at the graduation and passing-out parade of 1,466 Katsina Community Watch Corps held at the Muhammadu Dikko stadium, Katsina.
Also, yesterday, Radda inaugurated a 15-man Security Intervention Trust Fund Committee.
However, the community watch corps were recruited and trained for two months by conventional security agencies on weapons handling, counter-terrorism, civil-military
relations, among others.
Radda said the governors must also work as a unit with the federal government to ensure that a comprehensive approach was applied in tackling banditry and other security challenges afflicting the region.
He called on the federal government to support the Katsina community watch corps initiative, adding that his administration had invested huge resources to ensure the sustainability of the ongoing war against insecurity.
He said the training and graduation of the Katsina security watch corps served as an emblem of his administration's commitment to security, peace and community advancement.
While noting that 24 out of the 34 local government areas of Katsina
were facing severe security challenges, Radda said the establishment of the community watch corps had demonstrated his government's proactive approach to taming the challenges.
He, therefore, charged the newly recruited officers to understand the value of empathy, community cohesion and cultural respect while discharging their duties of safeguarding lives and properties in communities across the state.
"I would like to invite my brothers, the governors of the North-west and other governors in the country that are here today (Tuesday) to embrace this community building approach to tackle insecurity in our country.
"We must cooperate by sharing information, ideas and resources to
stamp out banditry and all forms of insecurity in our region and our country in general.
"We must also work as a unit of the federal government to ensure that a comprehensive approach is applied in tackling insecurity. And call on the federal government to support this initiative."
However, while inaugurating the trust fund committee, Radda said the terms of reference of the committee included identifying prominent indigenes and corporate organisations to donate to the security trust fund.
Other responsibilities of the committee, he said, was to suggest areas that the donated funds would be utilised, recommend the trustees for the fund and draft letters seeking donations.
NEWS THISDAY • WEDNESDAY, OCTOBER 11, 2023 33
L-R: Former ICAN President, Onome Joy Adewuyi; IFAC President, Asmaa Resmouki; ICAN President, Dr. Innocent Okwousa; Anambra State Governor, Charles Soludo; with Tola Adeyemi; during the 53rd Annual Accountants Conference in Abuja yesterday.
PHOTO: KINGSLEY ADEBOYE
AD HOC INTER-MINISTERIAL COMMITTEE TO HARMONIzE DEMAND BY LABOUR UNIONS...
CJN to Judges: Our Works Shall Testify for Us When We’re Gone
Others eulogise late Supreme Court Justice Nweze
Alex Enumah in Abuja
As justices, lawyers and critical stakeholders in the Justice sector eulogise the late Justice Chima Nweze, a former Justice of the Supreme Court, the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, has harped on the need
for judicial officers to be mindful of their conduct while alive because it would surely speak for them when pass away.
Nweze died on July 29, 2023, at the age of 64 years, soon after a short ailment. He was six years short of the 70 years retirement age for justices of the superior court.
Agoro Assumes Office as 22nd Lagos Head of Service
Mr. Olabode Shuaeeb Agoro, yesterday, formally stepped into office as the 22nd Head of Service (HOS) of the Lagos State Civil Service, succeeding Mr. Hakeem Muri-Okunola, who voluntarily resigned last September after about five years inthe saddle.
Governor Babajide Sanwo-Olu superintended the event, where the 56-year-old Agoro took the oath before members of the State Executive Council, House of Assembly lawmakers, Body of Permanent Secretaries and political leaders.
Also, Heads of State Government’s parastatals, retired Heads of Service, state employees in different cadres and traditional rulers thronged the Banquet Hall in the State House, Alausa, where the ceremony to usher in the new Lagos public service’s helmsman was held.
Following administration of the oath, Agoro performed his first official assignment, getting
the Governor’s approval for the long-sought request of a 500 per cent increase in the Car Refurbishment Loan Scheme for the state employees.
Workers responded to the news with spontaneous celebration. The welfare scheme heralded the arrival of a new sheriff in the Lagos State public service.
Sanwo-Olu described civil service as “a resource centre” of the government, likening public service to a wheel that keeps governance and the government running.
The governor congratulated the new HOS, noting that the constitution entrusted the office of the Head of Service with “enormous” responsibilities to provide direction and leadership for the public workforce.
Sanwo-Olu, therefore, urged Agoro to dedicate himself to the task of governance and work to build on the achievements of his predecessors.
Ariwoola, who gave the charge yesterday during a valedictory court session held in honour of the late jurist, stressed that death was a necessary end and would come at the appointed time.
"There is no rehearsal, there is no practice on how and when to die. We die once and that ends the sojourn here on earth. No one can spend a moment longer than the time permitted by the Almighty God.
"That is the more reason why we should always be very mindful of the fact that there is a tide in the affairs of men. The works of our hands shall testify on our behalf when we are gone," he said.
Ariwoola who was full of praise for the late jurist, disclosed that Nweze “was one of those cerebrally mobile judicial officers in our contemporary history, who had latched on our memory an enviable degree of intellectual eminence and legal finesse that encompassed all spheres of philosophy and methodical reasoning.”
He said Nweze was a unique and nationalistic personality with a radical posture of justice and rule of law, adding that, even though he looked simple and unassuming, he was very strict and consciously principled in disposition.
“He was always very warm and engaging. Like all great men,
my Lord was a man of paradox: simple without being simplistic in disposition; elitist and dignified in carriage, yet he related exceptionally well with everyone around him, especially the underprivileged and the downtrodden in the society,” he added.
He noted that the entire life of Nweze was devoid of duplicity, undue arrogance and elitism, as some people often manifest once fortune smiled on them and were elevated to positions of influence and affluence.
He said, even though Nweze was a dogged fighter for whatever cause he believed in, he was an astute advocate of the arts of
mediation and reconciliation.
Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, in his speech observed that the apex court was overwhelmed with workload of cases, making it one of the over-worked court in the world.
Fagbemi, who was represented by the Solicitor General of the Federal and Permanent Secretary, Ministry of Justice, Mrs. Beatrice Jeddy-Agba, stated that Nweze’s life would continue to shine as an example to all, adding that, the late Justice contributed immensely to the development of the nation’s judiciary.
States Owe NECO N5.5bn, Exam Body Releases 2023 SSCE Results after Delays
737,308 candidates score five credits in maths, English
The National Examination Council (NECO) has disclosed that some states in the country are indebted to the organisation to the tune of N5.5 billion.
Also, after intense delay, NECO yesterday,released the 2023 Senior School Certificate Examination (SSCE), 58 days after the final
House Investigates Untimely
Death of Medical Personnel in Lagos
Adedayo Akinwale in Abuja
The House of Representatives has resolved to investigate the death of a medical personnel at the Lagos University Teaching Hospital (LUTH), Dr. Michael Umoh, who reportedly died after spending 72 hours on duty in the Neurosurgery Unit of the institution.
The resolution of the House followed the adoption of a motion moved at plenary yesterday, by Hon. Adedayo Adesola.
Moving the motion, Adesola, pointed out that on September 17, 2023, Umoh, a medical officer on residency programme in LUTH,
reportedly died after spending 72 hours on duty in the Neurosurgery unit.
The lawmaker also recalled the incident of a young female medical doctor who lost her life due to elevator failure in a general Hospital, which could have been avoided with improved working conditions.
Adesola expressed concern that there have been several other reports of medical personnel dying as a result of harsh working conditions and other forms of negligence, thus robbing the country of her best brains.
He noted that such similar cases
have reinforced the agitation of National Association of Resident Doctors, Nigeria Medical Association and other associated bodies for improved conditions of service as evidenced by the recent industrial strike embarked upon by Nigerian Association of Resident Doctors (NARD) to press home their demands;
To this end, the House mandated, "the Committee on Health Institutions to investigate the anomalous deaths of Dr. Michael Umoh, a medical personnel at the LUTH to ensure that medical personnel in Nigeria work under favourable conditions and report back within six weeks for further legislative action."
examination was written on August 11.
The debt was incurred between 2012 and 2023 as a result of the states taking responsibility for the registration of their indigines for the Senior School Certificate Examination (Internal).
The Registrar and Chief Executive Officer of the Council, Prof. Danlami Wushishi declined to name the states owing the organisation, but pleaded with them to expedite action in settling the debt.
He, however, declared that the Council would not release the results of candidates of debtor states until such a time that the debts are liquidated.
"It is the money we use for the running of the council they should please pay up, we will not release the results of candidates from these states," he said.
Commenting on the poor performance of candidates from some states, Wushishi said it was a call on the states to "look inwards to review their education sector and look also at all sectors of the education."
According to the Registrar, Abia state topped the 36 states and Abuja on the performance chart followed by Adamawa Akwa Ibom and Adamawa states.
The Council yesterday, released the results of the Senior Secondary
School Examination it conducted between July and August this year with 737,308 candidates representing 61.60 per cent recording credits and above in five subjects.
A total of 1,296,985 candidates with 616,398 males and 580,587 females sat for the examination.
Wushishi who announced the results at the organisations' headquarters in Minna Niger state disclosed that 1,013,611 candidates recorded credit and above passes irrespective of English and Mathematics with 1543 of them being Special Needs candidates.
Wushishi further disclosed that 12, 030 candidates were involved in various forms of malpractices as against 13,594 cases recorded in the 2022 examination.
The Registrar further stated that in line with the resolve of the Council to identify and sanction erring schools and Supervisors, 93 schools were found to have been involved in " Whole School (mass) cheating" stressing that: " They will be invited to the Council for discussion after which appropriate sanctions will be applied."
Also, according to Wushishi, 52 Supervisors were recommended for blacklisting due to, " poor supervision, aiding and abetting during the examination.
"By this release candidates can now access their results on NECO
website" the Registrar declared
The delay in releasing the results, also delayed the conclusion of admission into universities this year.
NECO, which concluded the conduct of the examination in early August 2023, had slated to release the result within 45 days but the promise did not materialise. Information later filtered in that the results would be made public either on September 26th or 30th, but the two dates came and passed without any show.
Later, there was another release date of October 5, 2023, which did not also yield any result until the official confirmation yesterday by 11am today.
On candidates with special needs, he said a total of 1,542 candidates sat for the examination, out of which 913 candidates had hearing impairment and 162 candidates had visual impairment.
Other candidates include: 103 candidates with Albinism, 61 candidates with Autism, 149 candidates with low vision, 154 candidates with Adermatoglyphia, among others.
"It gladdens my heart to notify you that reports we have received so far indicate that the 2023 SSCE Internal has been certified the best in recent times. We are very thankful to God for this and to all those that made it possible.
34 WEDNESDAY, OCTOBER 11, 2023 • THISDAY NEWS
Laleye Dipo in Minna and Kuni Tyessi in Abuja
R-L: Oyo State Governor, Seyi Makinde; Chairman, Joint Negotiation Committee, Comrade Olanipekun Oluwaseun; Chairman, Nigeria Labour Congress, Comrade Kayode Martins; Chairman, Trade Union Congress, Comrade Bosun Olabiyi and Head of Service, Mrs Olubunmi Oni, during the inauguration of an ADHOC Inter-Ministerial Committee on the harmonization of the various demand by the Labour Unions, held at Governor's Office
Abike DAbiri briefs the MeDiA...
Israeli Ambassador Insists Hamas Must Be Wiped Out
Palestinian envoy urges international bodies to ensure Israel vacates occupied territory
Michael
Olugbode in Abuja
The Israeli Ambassador to Nigeria, Michael Freeman, yesterday, said Israel was presently not at war with her neighbour, Palestine, but rather has declared a total war with Hamas and would do everything to wipe the group out.
The envoy, while stating that Israel was ready to do everything that it takes to ensure that the group goes into extinction, lamented that
Saturday’s attack on Israel was the worst after the Holocaust.
He asked the international community to support the push of Israeli government to wipe out Hamas from the face of the earth.
He said Israel was only doing what any other nation would have done if its territory was invaded and its citizen slaughtered, adding that “I am not going to give a description of Hamas, but would want everyone to describe what the group is with
what he has been doing so far,” he added.
Freeman, while alleging that Hamas was not only after Jews and Israelis, but every other groups including Muslims and Christians, said he expected the rest of the world to support Israel move to wipe off the threat.
He said there was no other option, but to make sure that the group never exists again, revealing that Israel was ready to roll out everything needed
to put an end to Hamas and its madness and barbarism.
He admitted that civilian casualties should be expected in the war against Hamas as there was no war without civil casualties, but assured that Israel would not target civilians but Hamas though he noted that Hamas has threatened to put Israelis children and women in the warfront in the battle against Israel.
His words: It is important to state at this point that this is not a war
MMA2 Increases Tariffs for Car Park, VIP Walk-in Lounge from November 1
Chinedu eze
Bi-Courtney Aviation Services
Limited (BASL), operators of the Murtala Muhammed Airport Terminal Two (MMA2), has announced an increment in car park and lounge services tariff at the facility.
BASL said the tariff review was in light of the new economic reality in the country and that the decision had long been held down, in clear economic solidarity with the airport terminal users, despite its inevitability, until it became unavoidable for smooth and excellent operational purposes.
BASL said the tariff adjustments would affect car park and VIP lounge tariffs only and would be effective from November 1, 2023.
A statement signed by the Head
of Corporate Communications Department, Ajoke Yinka-Olawuyi, explained that the tariffs increase was necessary in order to boost revenue to continue to maintain the terminal, which was adjudged the best in Nigeria in terms of functionality and modernity.
Head of Spaces and Premises for BASL, Mr. Kola Bamigboye was quoted to have said, “Our car park tariffs have been revised to align with our ongoing efforts to maintain and upgrade the facilities, ensuring a safe and convenient parking experience for our valued passengers.”
According to Bamigboye, the new Car Park tariff structure would take into cognisance car park users who spend less than 30 minutes within the Multi-storey Car Park facility, thereby making it more convenient
Akpabio Seeks Nigeria, United States Collaboration
sunday Aborisade in Abuja
President of the Senate, Senator Godswill Akpabio has called for deeper collaborations between Nigeria and the United States of America.
This call was contained in a statement by his media aide, Eseme Eyiboh yesterday.
Akpabio, spoke while addressing a delegation from the American embassy in Nigeria, led by the chargé d'affaires, David Greene.
He noted the role of the United State in entrenching democracy and democratic values across the world, acknowledging that this task sometimes required Americans to pay the ultimate price.
He urged the American government not to be tired in its role
as big brother because the world needs a guiding hand from it's oldest democracy. " I am a believer in the American democracy and I ask that you continue to offer assistance to Nigeria and other countries as we walk our way up the ladder of democracy," he added.
Greene said his team was seeking collaborative efforts with the Nigerian Senate on multiple fronts. He added, " We came here today to pay a courtesy call on the Senate President to Congratulate him and also in hopes that we can find ways to work together for the collective good for the Nigerian people" The visit ended with the exchange of souvenirs by the host and the visitors.
for users.
For the lounge access fee, the Supervisor-In-Charge of Lounge Services at MMA2, Esther Ojeiwa, said in order to maintain top-notch services at the lounge, it had become necessary to upwardly review the access fee to the VIP walk-in lounge by 33.3%.
Ojeiwa, stated that the MMA2 VIP walk-in lounge was accessible to travellers seeking comfort and convenience, as it provides a serene environment to relax and unwind
before boarding and takeoff of scheduled flights.
"To further enhance the lounge experience, we have updated our lounge tariffs, offering even greater value for your money," she added.
Yinka-Olawuyi said the management of BASL has given assurance to the general public that the changes were essential to support ongoing improvements to the services offered by the company and the continuous improvement in passenger experience at MMA2.
that is between Israel and Palestine, this is not about Israel and Palestine.
“This is about Israel and Hamas, this is about good and evil, this is about civilisation and barbarism.
“Either you stand with people who are defending themselves or you stand with those who cut the heads of babies.
“That is what this is about, it is not about anything else.”
He assured of Israel’s plan to do everything within its ambit to avoid civilian casualties in the cause of the war against Hamas.
He mentioned that the Israeli move would not be about religion or Islam, Judaism or Christianity, but evil and good.
The ambassador further said that Israel does not desire war in any circumstances, but would remain committed to protecting its citizens in all possible ways.
“If Hamas will surrender this will be over tomorrow morning, if terrorism will be over that is not realistic.
“I am not asking the Palestinians anything, I am saying to the Palestinians I want a better day. I am saying this with focus on Hamas.
“I am focused on dealing with Hamas and I am focused on stopping it.”
Meanwhile, the Palestinian Ambassador to Nigeria, Abdallah
Sen AT e: nI ger IA Lo ST n 2.3 T n T o oIL T H ef T T HIS Ye A r
are those in rural areas difficult to reach.
Lawan, currently representing Yobe North, said: “In achieving social inclusion, funds were distributed, and the beneficiaries have no bank accounts."
He said, "After passing this, it is time we must participate fully to ensure the capturing of the beneficiaries that need the support in such a way the National Assembly is satisfied.”
He further explained that the National Assembly “should be to be part of the process, but that was not done.
"The support was sent to each state of the federation. All senators were onlookers, which is unacceptable.”
While contributing to the debate, Senator Seriake Dickson urged the lawmakers to use the opportunity to look at other issues raised during its implementation under the administration of former President Muhammadu Buhari.
Dickson, currently representing Bayelsa, explained that the amendment should include the mode of selecting the beneficiaries of the programme.
He said the previous government
had initiatives like TraderMoni and COVID palliatives without parliamentary approval and that recommendations should be made at the committee level.
After the deliberation, the senate president expeditiously referred the bill to the committee of the whole for consideration on Wednesday to allow distinguished senators go through the bill clause by clause.
While the NSIPA Act was enacted May 2023, to address socio-economic inequalities and alleviate poverty among Nigerians, NSIP was created in 2016 under the administration of former President Muhammadu.
The programme was founded on four pillars namely N-POWER Programme, Government Enterprise and Empowerment Programme, National Home-Grown School Feeding Programme and the Conditional Cash Transfer Programme.
Each of the pillars was designed to empower the poorest and most vulnerable Nigerians to attain an acceptable standard of living irrespective of their locations nationwide.
Meanwhile, the Senate, yesterday, raised the alarm that the country might experience an acute food crisis if the current insecurity was not immediately checked.
The red chamber stated this while deliberating on a motion by the Senator representing Niger East Senatorial District, Sani Musa.
The motion was titled: "Urgent Need for Federal Government to Deploy Troops and Other Security Apparatus to Immediately Bring an End to the Menace of Insurgency and Terrorism in Niger State and Other Parts of Nigeria"
The senators, in their various contributions, unanimously noted that the development could negatively affect the food sufficiency and economic diversification policy of the federal government.
They urged the Chief of Defence Staff, the Chief of Army Staff and the Inspector General of Police to immediately deploy troops to defend the unarmed populace and bring back security to the affected communities.
They insisted that it was the only antidote to restoring confidence in the security and safety of the affected communities.
The federal lawmakers said the Chief of Army Staff and the Inspector General of Police should as a matter of urgency ensure a full military presence in Shiroro and Rafi local government areas respectively.
Shawesh, has called on the international community to breathe down the neck of Israel and ensure the siege on Palestinian territory was immediately stopped.
He requested for the application of international laws to resolve the lingering crisis between his country and Israel, while calling on the international community to stop treating Israel as a nation above the law, calling for fair treatment of all parties.
Shawesh, said the lives of all individuals matter and condemned the killings ongoing in both countries.
On whether the Palestinian government was in support of the Hamas group, he said the group was not a terrorist organisation but fighting the course of the people to liberate their land from Israeli occupation.
The Palestinian Ambassador to Nigeria said a ceasefire agreement between the warring parties depends on Israel which he said owns a comprehensive military formation with support from allies like the United States.
He said many women and children were killed, medical doctors displaced and Ambulances destroyed in the renewed onslaught, alleging that one of the oldest churches in the world was destroyed by the Israeli forces.
They also charged the military and security agencies to redesign the modus operandi of their operations within the affected areas so as to curtail the escalating insecurity. The senate further directed the Ministry of Humanitarian Affairs and the National Emergency Management Agency to as a matter national emergency provide relief materials and medical support team to the victims immediately.
The lawmakers lamented that the development was worsening despite the fact that the Senate had passed several resolutions, set up ad-hoc committee on Security, held National Security summits and declared every support at bringing an end to the persistent insecurity in the country and further appropriated monies as well as advanced numerous steps to support the security agencies.
Moving his motion, Musa said, "For seven years now, Niger East Senatorial District of Niger State has come under constant and sustained multiple deadly attacks by heartless, venomous and hydra headed Boko Haram terrorists who are always heavily armed with assorted sophisticated and dangerous weapons unleashing their horror on our innocent populace.
NEWS THISDAY • WEDNESDAY, OCTOBER 11, 2023 35
L-R: Special Adviser to the Governor on Tourism, Mr. Idris Aregbe; Chairman, Lagos State House of Assembly committee on Tourism and Culture, Hon. Bonu Solomon Saanu; Chairman/C.E.O, Nigerians in Diaspora Commission, NiDCOM, Hon. Abike Dabiri-Erewa and Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, during a press briefing on the Fourth Door of Return at the Bagauda Kaltho Press Centre, the Secretariat, Alausa, Ikeja, ... yesterday
INauguratION Of SeCtION 4 the IgbOgeNe-aIt Outer rINg rOad...
FG Rules Out Dialogue with Bandits in Zamfara, Contiguous States
Seeks EU’s support on terrorism, intel sharing, equipment Zulum converts Arabic school to institute to counter Boko Haram’s ideology
Kingsley Nwezeh and Michael Olugbode in Abuja
The Minister of Defence, Badaru Abubakar, yesterday, declared that dialogue with bandits in resolving the crime of armed banditry in Zamfara State and contiguous states was not an option.
Abubakar, who claimed many states explored the option and failed, however, urged the European Union (EU) to support the Nigeria's fight against terrorism, intelligence sharing and equipment.
This was as the Borno State Governor, Professor Babagana Umara Zulum, has announced the conversion of Mustapha Umar Elkanemi Arabic (Teachers) College in Maiduguri to a specialised institute for teaching of Arabic and Islamic education that would counter the ideology of Boko Haram.
However, Abubakar spoke when he played host to the European Union (EU) delegation led by the Ambassador of the European Union to Nigeria and ECOWAS, Samuela Isopi, at the Ministry’s headquarters, Ship House, in Abuja.
Badaru appealed to the EU delegation to support the federal government’s effort to dismantle the network of insurgency in the North-east and other emerging
in law when he wrongly conferred, allowed and adjudicated on the matter when the respondent has no locus standi to initiate or institute the action having confessed not to have participated in the primary election that produced him as the governorship candidate of the APC, thereby occasioned a grave miscarriage of justice against him.
He submitted further that the lower court failed to properly evaluate, determine and pronounce on his notice of preliminary objection challenging the competence of the suit and thereby breached his right to fair hearing as guaranteed by the 1999 Constitution.
No date has been fixed for the hearing of the appeal.
Okorowo, in a judgment delivered Monday night, held that Sylva was not qualified for participate in the November 11 governorship election in Bayelsa, on the grounds that he has been sworn- in twice and ruled
security threats across the country, further sought support in the area of intelligence sharing and equipment to end the lingering crisis.
Reiterating calls for international support, the Minister of State for Defence, Bello Matawalle, said Nigeria needed the support of the EU in areas of personnel training and provision of modern and sophisticated equipment to fight the state of insecurity in the country.
“We need to be proactive and preventive in the fight against all forms of criminalities in Nigeria,” he said, noting that the European Union could render assistance, support and strengthen security agencies in the country by finding workable solutions.
Earlier, Isopi, said the EU was committed to ensuring that Nigeria overcame the issues of insecurity, banditry, kidnapping and terrorism.
She further stated that the EU was concerned with three main geographical areas, notably, the North-east and Lake Chad basin ravaged by the Boko Haram insurgents, the Niger Delta region, where government derives its revenue through oil and gas and maritime security.
She promised that the EU would deepen its military support to end insurgency in Nigeria.
for five years as governor of Bayelsa State.
It was the position of the judge that allowing Sylva, who was nominated by the APC to contest the governorship poll would amount to breaching the 1999 Constitution.
Meanwhile, Diri, who took a swipe at Sylva, during the Peoples Democratic Party (PDP) campaign rallies in Ogbia Local Government Area, described him as a serial deceiver that did not deserve the votes of the Bayelsa people.
The PDP governorship campaign train also visited Yiba-Ama (Oruma), Otuasega, Emeyal, Kolo Town and Elebele communities on Monday.
Diri noted that as governor for five years and Minister of State for Petroleum Resources for almost four years, Sylva did not make any meaningful impact in the state but rather deceived the people with phantom projects.
Listing Sylva’s ‘sins’ against people
Meanwhile, Zulum, who announced the conversion of the Arabic College to a specialised institute, made the announcement while on inspection visit to the college, preparatory to the conversion. The initiative was a response to the threat posed by Boko Haram, a militant group known for its violent campaign against education and its propagation of a radical and
misguided interpretation of Islam. When established, the new institute would be run in partnership with the Al-Azhar University in Cairo and would be producing students that would return to Borno’s 27 local government areas for preaching that would counter Boko Haram’s ideas. His words: “We are here to examine the capacity of this school,
in terms of human resources and the infrastructure with a view to converting it to be Al-Azhar Institute.”
He said when established, “we hope to ensure that each student after graduating from this school, can speak Arabic fluently and have a strong background in Islamic knowledge.“Admission to this school will
cut across the 27 LGAs so that they can go back and preach peace. We will do everything possible to avoid the reoccurrence of the experience we had in the last decade.”
To that extent, Zulum has directed the newly established Borno State Arabic and Tsangaya Education Board to take over the administration of all Tsangaya and Islamic Schools in the state.
Court-martial Sentences Army General to Seven Years Imprisonment
Orders him to refund $2,178,900, N1.65bn to Nigerian Army Properties Limited
The Special Army Court-martial sitting in Abuja, yesterday, sentenced former Group Managing Director, Nigerian Army Properties Limited, Maj Gen Umaru Mohammed, to seven years imprisonment for fraud. President of the Special Court Martial, Major General James Myam, while reading the sentences, also ordered the convicted senior officer
of the state, the governor said as minister, no Bayelsan was allotted an oil block but instead Sylva ensured that the licence of the state’s Atala oilfield was revoked.
According to him, the former governor’s other shortcomings were his deception that he was constructing an airport at Zarama, the failed Brass fertiliser as well as the COVID-19 hospital projects.
His words: "Timipre Sylva is a man you cannot trust. He displaced all those he promised that he would give the governorship ticket and turned around to become the candidate himself.
“A man who said a road from Yenagoa to Nembe was not economically viable. A man who proposed an airport but the site was turned into a ‘seaport’ after sinking in millions of naira of the state’s resources. When the immediate past governor built a very good airport, Sylva said it was a seaport but today he uses
to refund the sum of $2,053,200 and N1,690,000 to the Nigerian Army.
At the tabulation of the sentences passed on the general, it amounted to 49 years imprisonment but with the court announcing that the sentences would run concurrently, it came down to seven years.
The army authorities arraigned Mohammed on an 18-count charge of stealing, forgery, misappropriation, and conspiracy.
the same airport.
"During the COVID-19 pandemic, he deceived me as governor. He said let us go and inaugurate a COVID-19 hospital at Igbogene. In my innocence I followed him. We did the foundation-laying ceremony and that was the end of the project.
"A man who said he was building the Oloibiri oil museum but after deceiving the whole country with a groundbreaking ceremony, the site was abandoned and it is now overtaken by weeds.
"A man who has serially deceived the Bayelsa people. That is why everyone who speaks says this is a fight between light and darkness. There is darkness over them.
"We have tried him, we have tested him and he has failed. We have had many governors in this state but only one governor has been stoned, that is Timipre Sylva. Bayelsans have rejected him and he will remain rejected.”
Although the army general pleaded not guilty to all allegations, the court found him guilty of 14 of the 18 count charges.
Umar Mohammed is though believed to be a wealthy army general, the judge described his crimes as "the most fearless case of fraud ever recorded in the military."
Mohammed was equally indicted for taking N74 million from the company’s account on August 22, 2019.
The army authorities also alleged that the defendant directed one Maj Usman and one other now at large to collect money from ship owners in dollars.
He however, pleaded not guilty to the charges.
The counts for which the senior officer was found guilty and the sentences as well as the orders were count 1, Stealing which is contrary to section 323, sub-section 7 of the Armed Forces Act.
He was found guilty, sentenced to five years imprisonment. The court further ordered him to pay back the sum of $1,045,400 to the Nigerian Army Properties Limited
On Count 2, he was found guilty of Stealing and sentenced to five years imprisonment. He was also ordered to pay back the sum of $400,800 to the Nigerian Army Properties Limited
On Count 3, he was found guilty of stealing and sentenced to five years imprisonment. He was ordered to pay back the sum of $85,400 to the Nigerian Army Properties Limited
Count 4, Mohammed was found guilty of stealing, sentenced to five years imprisonment and ordered to pay back the sum of $35,300 to the Nigerian Army Properties Limited.
Count 5, he was found guilty of stealing contrary to section 383, sub-section 1 of the Criminal Code Act and sentenced to 5years imprisonment. The Special Court Martial also ordered the general to pay back the sum of $55,500 to Nigerian Army Properties Limited.
On count 6, he was found guilty of stealing contrary to section 310 of the criminal code and sentenced to five years imprisonment. He was also ordered to pay back the sum of $46,500 to the Nigerian Army Properties Limited.
Mohammed was discharged and acquitted on Counts 7, conspiracy to commit forgery, Count 10, conspiracy to forgery of document, Count 11, forgery and Count 12, Conduct prejudice to service discipline and Count 17, criminal misconduct. The court found him guilty of Count 8, forgery contrary to section 362 of the Armed Forces Act and he was sentenced to 7 years imprisonment. He was found guilty of Count 9 and sentenced to five yearsMohammedimprisonment. was also ordered to pay back the sum of $430,800 to the Nigerian Army Properties Ltd, and was found guilty of Count 12, which conduct contrary to service discipline and sentenced to two years
36 WEDNESDAY, OCTOBER 11, 2023 • THISDAY NEWS Continues online
Kingsley Nwezeh in Abuja
L-R: Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, Osun State Governor, Senator Ademola Adeleke, his Bayelsa counterpart, Senator Douye Diri, and Senator representing Bayelsa Central, Dr. Konbowei Benson, during the inauguration of Section 4 the Igbogene-AIT Outer Ring Road in Bayelsa ... yesterday
APC: S Y lv A Rem AI n S Ou R B AY el SA Gu B e R C A n DIDAT e
PROMOTiNG REaL EsTaTE saLEs…
L-R:Managing Director/CEO, Terra Developers, Mr. Kola Ashiru-Balogun; Chief Executive Officer(CEO), Assist-2-Sell Properties, Mrs. Chukwunonso
Consulting, Mr. Niyi Adesanya, at TERRApy 3.0 event in Lagos… recently
and CEO, FifthGear
Four Nasarawa Varsity Female Students Kidnapped in Keffi
Police parade kidnappers in Sokoto, Kogi
igbawase UkumbainLafia, Onuminya innocent insokoto and ibrahim Oyewale inLokoja
Four female students of the Nasarawa State University Keffi (NSUK) were reportedly kidnapped on Monday night by gunmen in Keffi town. However, the Sokoto State Police
Command yesterday paraded six suspected kidnappers and three electric cable vandals. Similarly, Kogi State Police Command paraded three suspected kidnappers, two armed robbery, one car snatcher, and three other criminal suspects.
An eyewitness told THISDAY that the kidnap of the students took place at about 10:30 p.m.
Bola Ige’s Community Cry for Help over Bad Roads
Residents of Esa- Oke in Obokun Local Government Area of Osun State have lamented the deplorable state of the road in the town and its environs.
The road, which is in a deplorable situation links Imesi Ile Esa-Oke communities the home town of former Governor of Oyo and Minister of Justice and Attorney General of the
of that fateful Monday night at Angwan Ka’are community of Keffi, the headquarters of Keffi Local Government Area in Nasarawa State.
Constitution
Federation, late Chief Bola Ige.
The deplorable condition of the road where the popular Adonis American College of Health Technology and Sciences, Esa-Oke is sited has caused hardship to commuters.
Fielding questions from journalists on the condition of the road, a community leader, James Ademiju pleaded for the intervention of the governor who, he described as a listening governor.
Oborevwori Inaugurates Delta Advisory Council
sylvester idowu inwarri
The Delta State Governor, Hon. Sheriff Oborevwori, has inaugurated the state’s Advisory and Peace Building Council, and charged it to support the government’s M.O.R.E Agenda with regular expert advice to foster inclusive economic growth, environmental protection, religious harmony and sustainable development of the state.
Governor Oborevwori, who spoke at the inauguration ceremony held at Unity Hall, Government House, Asaba, yesterday, said that the
appointees were men and women of great wisdom, exemplary character, enviable track record of performance and proven leadership qualities.
He held that the government and people of the state stood to benefit immensely from their wealth of knowledge and experience in both the public and private sectors.
He said: “This administration is committed to ensuring that the peace we currently enjoy in Delta State is not only sustained, but also strengthened through our MORE agenda, which has Enhanced Peace and Security as the fourth pillar.
TotalEnergies Urges Students to Give Priority to Reading
Raheemakingbolu
Management of TotalEnergies and stakeholders in the Lagos State Education sector, have described the long hours being given daily to browsing and other social media activities as a major factor militating against reading among students.
Speaking during the company’s “2023 DW Book Reading and Open Day”, with the theme, “A Chapter A Day Keeps The Brain Alert”, the company’s deputy managing director, Mr. Victor Bandele, called on students drawn from various public secondary
schools in Lagos to imbibe the reading culture early to be able to pursue their desired dreams. The deputy managing director, who was represented by the Executive General Manager, Deep Water Field Operations, Mr. Adeyemi Akinlalu, pointed out that reading helps in building of mental alertness.
On why the company has consistently adopted the catch them young approach to propagate reading culture, Bandele said TotalEnergies appreciated the place of education in development, hence the need to mentor the students to bring out their potential.
The eyewitness gave names of the kidnapped Students to include: Rahila Hanya - SLT 100 Level; Josephine Gershon - Computer Science 100 Level; Rosemary
Amendment:
adedayo akinwale in abuja
The Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has said that the House would revisit the five rejected gender bills.
He gave the assurance yesterday when the Women Advocates Research and
Kano
ahmad sorondinki in Kano
Samuel - Business Administration 100 Level and Goodness Samuel - Geography 100 Level.
However, when contacted at the time of filing this report, the
NSUK Head of Information and Protocol Officer, Mr. Abraham Ekpo, said that there has not been official information lodged to the institution in respect to the incident.
House to Revisit Rejected Gender Bills, Says Kalu
Documentation Centre (WARDC), the NCAA, GECORN, Womanifesto and other Gender Bills Response Cluster members (GBRC) paid him a courtesy call in his office at the National Assembly, Abuja.
The Deputy Speaker, in a statement issued yesterday, stressed that in a country like
Nigeria where women and girls made up 49.32 per cent of the population, their number should reflect the proportion of representation in the majority of institutions, including the legislature with only four per cent of women.
He commended the group for starting the advocacy early,
urging them to also reach out to Nigerians in general for their support.
Kalu noted: “We are all aware that any society that is desirous of achieving equitable development, cannot sidestep such fundamental matters as gender equity and women empowerment.
Dams in Bad Shape, Need Urgent Attention, Gov Yusuf Raises Alarm
Kano state Governor, Abba Kabir Yusuf, has raised the alarm that no fewer than 21 large and small dams in the state are in deplorable shape, and requires urgent attention and intervention of the federal government.
Yusuf called for help yesterday during a courtesy call by the Minister of Water Resources and Sanitation, Professor Joseph Terlumum Utsav, at the Government House in Kano.
The state governor represented by his Deputy, Aminu Abdulsalam Gwarzo,
said the state government has drafted a panel of experts to assess the current situation of the 21 dams which are over 40 to 60 years old.
He said: “We have about 21 dams ranging from large and small purpose dams to boost irrigation farming aimed at providing sufficient food,
employment, portable drinking water and others in the state.
“We urged the federal government to intervene in this aspect-Kafin Chiri Dam, Tiga Dam, Fada Marashi, Magaga Dam, Tiga Dam, Karaye Dam, and Thomas Dam, which have not been distilled for over 40 to 60 years.
Imo Guber Election: Labour Party Raises Alarm over Identity Theft
The Labour Party (LP) yesterday called on members of the party to beware of what it described as planned identity theft by the Peoples Democratic Party (PDP), All Progressives Congress (APC) and
other political parties contesting the in the November 11 governorship election in Imo State. The party also reiterated that Senator Athan Achonu remains the governorship candidate of the party for the state November 11 governorship election. Addressing a press conference
yesterday at the national secretariat of the party in Abuja, the Chief spokesperson of the party’s presidential campaign, Dr. Tanko Yunisa, said some individuals are going about in the state calling themselves the national coordinators of the Labour Party.
According to Yunusa, “We are not unmindful of attempts by some politicians to poach into the ‘Obidient Family’ and pursue an identity theft agenda. “We are aware also that some political parties are making efforts to misdirect some of our family members.
Oyebanji: Why We Must Set Benchmark for Service Delivery in Ekiti
Gbengasodeindeinadoekiti
Ekiti State Governor, Mr. Biodun Oyebanji, has restated his administration’s zero tolerance for any form of indolence or non-performance, saying: “We must set benchmark for service delivery and project delivery.”
Specifically, the emphasised that there would be consequences for lack of performance going forward. The governor stated this in Ado Ekiti while addressing heads of Ministries, Departments and Agencies (MDAs) during the opening session of the Ekiti Staten Performance
Assessment and Improvement Report (EKPAIR) workshop held in the Conference Hall, Governor’s Office in Ado- Ekiti. He said if his administration would positively affect the life style of the Ekiti people, then the government must set a bench mark for service and project delivery.
The governor explained that holding meetings, treating files and organising programmes without translating them into tangible outcomes would amount to a waste of time without putting in place templates that would measure performance.
Abia PDP Rejects Otti’s Olive Branch, Vows Stiff Opposition to Govt
Emmanuel Ugwu-Nwogo in Umuahia
The Peoples Democratic Party (PDP) in Abia State has rejected the olive branch offered by the state Governor, Alex Otti,
saying they were prepared to mount stiff opposition to his government.
The state Vice Chairman/ acting Publicity Secretary of the PDP, Hon Abraham Amah, made the position of
the party known yesterday on a radio programme monitored in Umuahia.
Governor Otti had offered the olive branch to the opposition, asking them to discontinue further litigation against him and
join hands with his government to rebuild the state.
But the PDP spokesman countered that there was no sincerity in the governor’s offer, hence, the opposition party would not cooperate with him.
Court Remands ESSN Head, ‘Small Baba’, over Alleged Murder in Edo
adibe Emenyonu in benin City
A High Court in Benin City, Edo State, has ordered the remand of 54-year-old Head of Tactical Teams of Edo State Security Network (ESSN), Mr.
Osarenren Johnson (also known as Small Baba), over alleged murder and other crimes. Johnson, it would be recalled was arrested alongside others by the police command in the state following a bloodbath
that recently occurred in Okhunmwun Community in Ovia North-east Local Government Area of Edo that claimed the lives of eight persons.
The police said that small
Johnson was arrested for leading other members of his team killed in an ambush at Okhunmwun which the police said was not his area of coverage, without due authority.
wednesday OCTOber 11, 2023 • THisday 37 news
yinka Kolawole in Osogbo
ChuksOkochainabuja
Onny-Ezeh,
Plus
ETOP UKUTT
Ironically, the conflict has persisted not because reasoned propositions have not been put on the table broadly from all sides of the conflict. But the generations of implacable extremists among the Jews and Arabs in Palestine have seemingly made the application of reason impossible.
Yet since the first intifada, Jewish and Arab thinkers have made critical observations pointing to the ultimate futility of the approaches currently adopted by both Israel and Hamas.
Take a sample.
An Emeritus Rabbi based in the United Kingdom, David Goldberg, has questioned the tendency of Israeli politicians and generals to “prefer to remain in ignorance of the army’s brutality” in the occupied territories in his book entitled “This is not the Way: Jews, Judaism and Israel.”
As a Jew in the Diaspora, Goldberg says criticism of Zionism is not the same thing as anti-Semitism. His point is as follows: “So what might coax Israel to accept that holding on to the Territories is counter-productive? … A start would be a mass petition from Jews worldwide to the Israeli prime minister’s office under the slogan ‘Passover for the Palestinians’. Even Eli Wiesel might have difficulty in refusing to sign it. All of Judaism’s ethical teachings are based on and derive from the concept of Freedom. It is the sine qua non of Jewish values. The exodus from Egyptian slavery is the folk memory above all others that is embedded in our collective unconscious and unites religious, secular, atheist and only-just Jews in nominating the Passover Seder as their favourite celebration. It was Heine, in many ways the epitome of the post-Enlightenment Jew adjusting to the temptations of modernity without forfeiting Jewish distinctiveness, who wrote in Germany to Luther, ‘Since the Exodus, Freedom has always spoken with a Hebrew accent.” The journey of the Hebrew slaves to freedom has been the inspiration for most liberation movements in Western history and ‘Let my people go’ the battle cry that has urged them forward. Liberty is a universal yearning, shared by all peoples everywhere.”
From the other polar end is the view of eminent Palestinian American scholar, Edward W. Said. In one of his last essays compiled in a book entitled “From Oslo to Iraq and the Roadmap,” Said observed that the tragedy of Palestine would deepen unless the Palestinian (nay Arab) leadership changed their approach to the conflict. Said, who died 20 years ago, wrote within the context of the siege on the Palestinian territories following the crisis provoked by the visit of Prime Minister Ariel Sharon, surrounded by thousands of Israeli soldiers, to Jerusalem’s Haram al-Shariff (the Noble Sanctuary), a Muslim’s holy place on September 29, 2000. Goldberg’s reasoning is as follows:
“No one can deny that Palestine is an exception to nearly all the colonial issues of the past two hundred years: it is exceptional but not removed from history. Human history is full of similar, if not absolutely the same, instances, and what has surprised me, as someone living at a distance from the Middle East but close to it in all sorts of ways, is how insulated from the rest of the world we
on a developmental bargain that is oriented towards industrialization. The ruling elites are both nationalistic and technocratic in engaging the business community in an institutionalized way that guarantees economic transformation, not rent seeking.
Whether in Japan, Taiwan, China or Eastern Nigeria, the logic and positive outcomes are the same: the state focuses on economic transformation in terms of marketable goods through transition from agriculture to industry and commits to reducing constraints and activating catalysts for industrial development. Micheal Okpara did the same in Eastern Nigeria in the 1960s and the result was a harvest of industries that grew the GDP exponentially. Professor Anya O. Anya described the explosion as follows: “there were numerous industrial projects scattered over the length and breadth of Eastern Nigeria. In one frenetic burst of energy, a wave of maniacal and frenzied activity was on-going over Eastern Nigeria. … by January 25, 1963, the Michelin Factory at Port Harcourt was opened. The tire factor was a USD 3,000.000 undertaking. On March 22, the headquarter building of the Universal Insurance Company was opened in Enugu. On May 10 the Nigerian Gas Company was commissioned at Emene near Enugu. On May 16, the Aluminum Factory at Port Harcourt was opened. On August 24, the Glass Factory became operative in Port Harcourt. On October 18, the Aasbestos Cement Factory was opened in Emene”
The explosion of industrial projects was possible because the leadership had a clear ideology and the passion and commitment to implement technoindustrial transformation. They also constructed a political settlement that managed political power in a manner that contributed to productivity and high human development. Peter Evans calls it ‘embeddedness’. Political power in Eastern Nigeria of the 1960s was embedded in the society. Political power in Southeast in 2023 should be similarly embedded to drive economic transformation and human security in the region.
keep ourselves. Whereas, I believe, a great deal can be learned from the history of other oppressed peoples in the Americas, Africa, Asia, and even Europe. Why do we resist comparing ourselves, say, with the South African blacks, or with the American Indians, or with the Vietnamese? By comparing, I don’t mean mechanically or slavishly but rather creatively and imaginatively.
“The late Eqbal Ahmad, who was certainly one of the two or three most brilliant analysts of contemporary history and politics that I ever knew, always drew attention to the fact that successful liberation movements were successful precisely because they employed creative ideas, original ideas, imaginative ideas, whereas less successful movements (like ours, alas) had a pronounced tendency to use formulas and an uninspired repetition of past slogans and past patterns of behaviour. Take as a primary instance the idea of armed struggle. For decades we have relied in our minds on ideas about guns and killing, ideas that from the 1930s until today have brought us plentiful martyrs but have had little real effect either on Zionism or on our own ideas about what to do next. In our case, the fighting is done by a small brave number of people pitted against hopeless odds: stones against helicopter gunships, Merkava tanks, missiles. Yet a quick look at other movements- say, the Indian nationalist movement, the South African liberation movement, the American civil rights movement-tells us first of all that only a mass movement employing tactics and strategy that maximizes the popular element ever makes any difference on the occupier and or oppressor. Second, only a mass movement that has been politicised and imbued with a vision of participating
directly in a future of its own making, only such a movement has a historical chance of liberating itself from oppression or military occupation. The future, like the past, is built by human beings. They, and not some distant mediator or saviours, provide the agency for change.
It is clear to me, for example, that the immediate task in Palestine is to establish the goal of ridding ourselves of the occupation, using imaginative means of struggle… “
If you synthesis the different perspectives of Goldberg, a Jew, and that of Said, a Palestinian, it would be obvious to see the irrationality in Hamas’ refusal to recognise Israel which it calls an “illegitimate state” and Israel’s illusion of resting on its military power to occupy Palestinian territories for ever. Other Palestinian factions which do not also recognise Israel are making the same mistakes as well as the right-wing extremist Jews ruling out perpetually the possibility of a Palestinian state. They are all poor students of history. The dialectic of history is that oppression cannot last for ever.
In fact, the proud national history of the Jews themselves shows that a determined people will survive the worst form oppression and persecution.
The United States and its western allies are also part of the problem. Former American president, Jimmy Carter, once described the inhuman condition of the occupied territories as that of “apartheid.”
Without saying so, America and its allies are today not too worried about the settler-colonialism existing in Gaza and West Bank. The last time the United States showed real enthusiasm about resolving the crisis was on September 13, 1993 when President Bill Clinton presided over the signing
of a peace agreement in White House between Israeli Prime Minister Yitzhak Rabin and Palestinian Liberation Organisation (PLO) Chairman Yasser Arafat. Unlike Clinton, President Joe Biden has not put the resolution of the Israeli-Palestinian conflict as a “priority” of his administration. For America, the Palestinian Question is not an urgent item like the Russian invasion of Ukraine. Neither is it as urgent as America’s ill-fated democracy projects in Afghanistan, Iraq and Libya.
The European countries are hardly different in failing to nudge both Israel and the Palestinians towards a just resolution in the interest of peace and security of the Middle East and indeed the world.
Even the United Nations appears helpless in the situation. The lack of even -handedness on the part of the UN in the matter is reflected in the Monday statement of its secretary-general, Antonio Guterres, in which he expressed “condemnation of the abhorrent attacks of Hamas and others on Israel” while he was only “alarmed by reports of over 500 Palestinians-including women and children killed in Gaza and over 3,000 injured.”
That is not a balanced approach to resolve a conflict
Israel is legitimately entitled to its national security just as the Palestinians have fundamental human rights to their freedom and national dignity as a people. These are rights embodied in the United Nation’s Declaration of Human Rights of 1948. Israel’s national security and the existence of the Palestinian state are not be mutually exclusive. That is the logic of the two-state solution. Peace and security based on justice can come to Palestine.
regions and local ownership of development ensured that politics worked for economic and social transformation. There was significant elite consensus, which some economists identify as the main reason for effective implementation of a development agenda.
Let us get it clear. Eastern Nigeria could not have become the fastest growing in the world in the early 1960s if it did not have a politics that suited its development objectives. One notable feature of that politics is that it was both corporatist and solidaristic, rather than individualistic and divisive. The Premier had a group of technocrats who populated the Eastern Nigeria Development Corporation (ENDC) to provide technical insights and local political leaders who had local accountability to guarantee effectiveness of development projects.
The developmentalist logic and strategies of the Eastern Nigeria region were similar to those of Western and Northern Nigeria. These regions achieved transformation of their socioeconomic conditions under leaderships that share much in common. Leaders of the 1960s learnt well from the developmentalist state theories of the period. The pedigree of both Awolowo and Okpara are similar to the point that they were both visionaries and theoreticians of some note. They read through
the literature of development and conceived their politics as an instrumentalization of a particular development ideology. M.I. Okpara called his ‘democratic socialism’ in the same manner that Deng styled the new China political economy beginning from 1978 as ‘socialism with Chinese characteristics’. Apart from their ideological orientations, their achievement was helped by the political structure of the period. Regionalism and the sort of incentives it created for positive competition between the
Today, in the Southeast and elsewhere in Nigeria, the Governors have everything to themselves. They are not surrounded by the best and brightest, and they govern alone without a collectivist political base. When we elect Governors, we grant them the states for four years to do as they wish. In the past, the party that is rooted in the local community wins the election. The Premier leads the party and the technical team to work for the people and with the people. But today things have changed. There is a huge democracy deficit. Leadership is isolationist and self-serving. The ruling class is not a leading class. There is no development-oriented leading class animated with a passion for any kind of development agenda. In the past, the focus was development and personal interest was served as in the course of implementing the development agenda. Today, politics is a personal quest and development may be an accidental outcome.
The southeast’s next transformation requires that we reduce this democracy deficit that results in development deficit. Until we can recreate the kind of politics of the 1960s in the Southeast, we will not experience the same level of economic transformation.
BACK PAGE CONTINUATION 38 WEDNESDAY, OCTOBER 11, 2023 • THISDAY For Ju STI ce A n D Pe A ce I n PA le STI ne
S
Tow A r DS Sou TH e AST ’
n ex T e conom I c Tr A n SF orm ATI on
Ngozi Okonjo-Iweala
Israeli Prime Minister Netanyahu
Mahmoud Abass, President of the State of Palestine
Eden Hazard Retires from Football at 32
Olawale Ajimotokan
Former Chelsea and Real Madrid winger, Eden Hazard, has announced his retirement from football.
He confirmed his decision to retire from the game for good in a lengthy post on his Instagram page yesterday. Hazard, 32, joined Real Madrid from Chelsea in 2019 for £89m, but played just 54 league games for the Spanish giants and left the club at the end of last season.
He won two Premier League titles during his time at Stamford Bridge.
"You must listen to yourself and
say stop at the right time," said Hazard, who has been a free agent since his contract was terminated in June.
"After 16 years and more than 700 matches played, I have decided to end my career as a professional footballer."
The Belgian had already retired from international football last December after being part of the squad which was knocked out of the 2022 World Cup during the group stage.
At Real Madrid, Hazard won the Champions League, a Club World Cup, a European Super Cup, two La Liga titles, one Copa del Rey and two Spanish Super Cups.
But his time in Spain is widely considered disappointing - he scored just 7 goals in 76 appearances in all competitions.
"One of the greatest players in Chelsea history", the Premier League club said on their website, adding that "he would always be welcome back at Stamford Bridge".
Hazard started his career with French club Lille, scoring 50 goals in 149 appearances and helping the club to win a domestic double of Ligue 1 and the Coupe de France in 2010-11.
He moved to Chelsea in the summer of 2012, signing for a reported £32m and went on to
Mikel Blames Erik ten Hag over Jadon Sancho Saga
Former Chelsea star John Mikel Obi has come down hard on Manchester United Manager, Erik ten Hag, over his handling of the Jadon Sancho situation. Sancho, 23, has been frozen out at Manchester United after he went on social media to criticize the manager after he told the media the winger has not been doing well in training.
“Everyone thinks that Sancho does not apologise, I have a different view on it. My view is that the manager should not have openly criticize Sancho in publicly. I wouldn’t come out
publicly,” he said in the podcast The Obi One.
He added: “When you listen to former United players, they’ve all said one thing, that when things like this happened before under (Sir Alex) Ferguson, it was brought up in the dressing room, he dealt with it.
“It doesn’t matter how he handled it, but he handled it. If his decision was that the player should not be involved anymore, so be it. You can’t come out in public and criticize a player and say he didn’t train well,” conclude Mikel in the podcast.
1XBET Cup: Fakson FC Tackle Bariga in DBI Conference Final
The battle for the automatic qualification ticket in the DBI Conference of the maiden edition of the 1XBET Cup competition comes up this afternoon (Wednesday) between Fakson FC and Bariga FC, winners of Group A and B, at the Nitel Training ground, Oshodi.
Playing in the last Group B matches, Bariga FC defeated Ifako FC 2-0, to top the group with 7 points, while G-Innovation thrashed Emiloju 4-1.
Fakson had yesterday picked the final ticket in Group A with 7 points, after a hard-earned 1-0 win over Cheche Stars.
Speaking on the final game, Barrister Ayo Julius, who is the Head Coach of Bariga FC, is
optimistic of his team picking the Conference's automatic ticket to the final 8 of the competition.
The coach said, "We have gone too far, not to pick the sole ticket in this Conference is unthinkable.
What you saw my boys play in our group matches, is what we call 'Ramba-Samba', which is a unique blend of Brazilian football and football made in Bariga.
"What you have seen so far, is just a tip of the iceberg. We're going for the ultimate prize, which is the cup," he boasted gleefully.
Meanwhile, a total of 32 goals have been scored from the 12 games played so far and with G-Innovation's striker, Christian James leading the scorers chart with five goals.
Zenith Bank /Delta Principals’ Cup to Kick off October 19
Organisers of the annual Zenith Bank/Delta Principals Cup have released the timeline for the developmental football competition.
The grassroots football tournament is organised for all secondary schools in Delta State with Hideaplus as the organisers of the event sponsored by Zenith Bank Plc in conjunction with the Delta State Government.
Friday October 13 has been set as date for the commencement of the online registration by all schools in the various Local Government Areas of the state.
The Commissioner for Basic Secondary Schools in Delta State, Mrs Rose Esewu, is expected to address the press on the state of readiness for the tournament.
The Executive Governor of Delta State, Rt Hon. Sheriff Oborevwori, is expected to be in attendance at the official kick of the tournament at the St. Patrick’s College in Asaba.
Preliminaries of the tournament are to take place between October 20 and November 10 while zonal eliminations will hold between November 20th and 22nd.
Quarterfinal and semis of the event are billed for November 24th and 27th respectively while theThird Place and final match for this edition will hold on November 30th at the Stephen Keshi Stadium in Asaba.
Group Managing Director of Zenith Bank, Ebenezer Onyeagwu, said it was always a delight staging developmental events.
become a club great, winning the PFA Players' Player of the Year in 2014-15.
Hazard scored 110 goals across 352 appearances for the Blues, including the winner in the 2019 Europa League final against Arsenal in his final appearance for the club.
He is also one of only four players in Premier League history - alongside Thierry Henry, Matt Le Tissier and Eric Cantona - to score 15 or more goals and provide 15 or more assists in a single season, having netted 16 times and laid on 15 assists during the 2018-19 campaign.
India, S’Africa, Others for Valuejet ITTF Lagos Para Open
Commonwealth Games champion India, Kenya, Uganda, Benin Republic, Togo, South Africa and hosts – Nigeria are among the countries that will compete at this year’s Valuejet ITTF Lagos Para Open which serves off on Thursday, October 12 at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium.
Speaking at the press conference held yesterday in Lagos, Chairman of the Local Organising Committee (LOC), Sunday Odebode said the tournament has received the full sanction by the world table tennis ruling body while the tournament has helped to unearth more top stars for Nigeria.
Specifically, Odebode said that most of the athletes that qualified for Paris 2024 Paralympic Games at the recent African Championships held in Giza, Egypt are products of the tournament while more players would emerge as majority of them are now been classified by ITTF.
“We are so happy that the tournament is now Factor 20 on ITTF calendar, which means players aiming to qualify for the Paralympic Games can come and compete and pick the necessary points to shore up their ranking. Now that it is fully sanctioned by ITTF, we are hopeful that more countries will identify with the tournament in near future. For
this year, we have six countries including Nigeria competing and we are going to have the singles, mixed doubles and doubles events to prepare the players ahead of the Paralympic Games,” Odebode who is also the President of Paralympic Committee of Nigeria (PCN) said.
In his remarks, ITTF Para Events and Classification Manager Pablo Perez lauded the organisers of the annual tournament as an avenue to develop the players and the sport.
“I am so excited that this tournament has continued to improve the Nigerian players
and this was reflected in their performance at the just concluded African Championships where nine of them qualified for the Paralympic Games in Paris next year. I can see that more players are coming through and this is the result of regular tournaments for players and this has confirmed Nigeria as the best in Africa and one of the top teams in the world. I am so excited returning to Nigeria again and I hope that more teams and countries will be coming to be part of the tournament following the exploits of Nigerian players in major competitions across the
world,” Perez said.
For the Head of Business Development, Valuejet, Temitope Ajijola, the company would continue to support para-sport especially with the impressive display of the athletes in Egypt where nine of them picked their tickets to Paris 2024.
“Apart from our businesses, sports remain our second priority and with what we are seeing in para table tennis, we are encouraged to do more and we are committed and we will continue to support the sport across the country,” he said.
Peter Rufai Joins List of Coaches for NNL Seminar
The board of Nigeria National League (NNL) has confirmed that former Super Eagles goalkeeper, Peter Rufai, will be part of the resource persons for the forthcoming refresher course for the second-tier league coaches aimed at preparing them ahead of the kick off of the 2023/2024 season slated for October 28. Other resource persons include; Technical Director of NFF, Austin Eguavoen, Portuguese UEFA licensed coach, Thiago Conde, former Super Eagles player, Clem- ent Temile and Director General of the National Institute for Sports
(NIS), Prof Olawale Moronkola.
According to a statement by the league board, the course which is being organised in conjunction with the National Institute for Sports (NIS) will hold between October 15 and 18 at the Remo Stars Stadium, Ikenne, Ogun State with all the 40 NNL coaches in attendance.
The statement further stated that the course became necessary in order to fully equip the coaches with the most basic principles of coaching while NIS certificate will be issued to participants at the end of the programme.
Speaking on the course, Rufai
said that he's honoured to be part of the team, promising to give his best to the coaches in order to move the country's football forward.
"I'm highly honoured to be part of the resource persons that will handle the coaches during the refresher course and I promise to give my best in the programme.
"Kudos must also go to the board of the NNL led by Mr. George Aluo for his foresight in changing the narratives of the second tier league and I believe that at the end of the course, the coaches will be more equipped for the league.”
WEDNESDaySportS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY THISDAY • WEDNESDAY OCTOBER 11, 2023 39
John Mikel Obi...fumes at the poor handling of the Jadon Sancho saga Eden Hazard... calls time on his professional football career
MISSILE Umahi to Civil Servants
Kayode Komo LA fe
Beyond the high principles espoused on all sides of the current Israeli-Palestinian war is the enormous human cost of the conflict. While Israel, formidably backed by America, legitimately insists on the right to defend itself against attacks by Hamas, the Palestinians battle cry is their freedom. They want an end to the 56-year old illegal occupation of their land and humiliation by Israel. Blood and tears have been flowing in the periodic eruptions of violence in over seven decades of the perennial conflict. In the more recent violence that has defined the region, thousands have been killed since the first Palestinian intifada in 1987.
The toll is rising in the current war triggered by Hamas attack on Israel on Saturday. Experts say the war might extend beyond Israel, Gaza and West Bank.
Among the hundreds of Israelis and Palestinians killed were scores of children.
This is the issue for rest of humanity that seems to have mentally normalised the IsraeliPalestinian conflict.
The conflict remains an open sore on the social conscience of humanity. It fundamentally questions the moral content of western civilisation.
A judicious way of looking at the conflict is that war crimes are being committed by both Israel and Hamas, as former foreign minister, Professor Bolaji Akinyemi, put it while offering profound insights into the crisis on ARISE Television yesterday morning.
Reports from Gaza and West Bank suggest that a humanitarian crisis looms in the areas as Israel has imposed a blockade on a people already under occupation in defiance of international laws. Stopping the violence and averting the resultant humanitarian crisis is the immediate task. But the more urgent task for the United States appears to be arming Israel for the “elimination of the Hamas leadership,” as the Israeli opposition leader, Avigdor Lieberman, has demanded. The
SamAmADI
On September 28 and 29, the Governors of the Southeast held a security and economic summit to develop strategies to address the crisis of livelihood in the region that manifests as high insecurity and economic stagnation. The summit had many powerful keynote speakers, including the Director of The World Trade Organization, Ngozi Okonjo-Iweala, whose plenary speech focused on how the region can tap into its resources and the changing nature of global economics to reposition itself as a successful competitor in global trade. She challenged the Governors of the region and its economic and political leaders to work in concert and in alignment with the federal government to create wealth and security for the region. The highpoint of the event is the demonstrated commitment of the Governors of the region to pursue economic development and security for the region. It was satisfying to behold all of them together in a summit with experts to seek solutions to the governance and development challenges in the region.
It was a pageant of good rhetoric and resplendent dressing. But more than words are needed in the Southeast. We need good visions and the right actions. It is true that the region outperforms the rest of the country in critical human development indicators. It has the lowest poverty rate of any region, including multidimensional poverty. It
has far lower number of out-of-school children than any other region. Its per capita GDP is better than most of the regions. But its relatively good economic performance is bad compared with its factor endowment and its past performance. Nigeria’s economic performance has been terrible in recent time. So, bettering the other regions in this regard does not mean great performance. The
prospects of a diplomatic solution are dim as the Israeli Prime Minister Benjamin Netanyahu and the Hamas leadership are not embracing the option of negotiation.
Like the previous periodic bloodlettings on both sides, the fundamentals of the conflict are again being ignored.
That is the Question of Palestine. Originally, the word Palestine was geographically used to refer to the eastern Mediterranean region. In
geo-political terms, it comprises of parts of modern Israel and the Palestinian territories of Gaza and West Bank. The history of Palestine in the last 3, 000 years has been that of changes in political status. Jews, Christians and Muslims have their sacred sites in Palestine. Since the last century Arabs and Jews have made conflicting claims on the land. Some claims to the land even have Biblical dimensions.
Such is the complexity of the region’s reality. To unravel this complexity, it is unhelpful to begin the story with the “terrorism” of Hamas. The provenance of the story in the modern sense was the United Nations Resolution 181 of 1947. It is also called the Partition Resolution. According to the resolution, the Britain’s former mandate of Palestine should be partitioned into Jewish and Arab states. The mandate was billed to end in May 1948. And indeed the State of Israel was created that year. However, the other state for the Arabs in Palestine (now simply called the Palestinians) have not been created 75 years after despite heaps of resolutions by the same United Nations and futile negotiations to resolve the conflict between Israel and the Palestinians. Instead, the Palestinians have lost a good portion of the land they owned before the 1967 war to encroachment by Jewish settlers.
This monumental failure to make the Palestinian State a reality is squarely at the root of the conflict.
For Justice and Peace in Palestine Towards Southeast’s Next Economic Transformation
truth is that the southeast should be far ahead of the national average in every economic and human development indicator more than it is now. But it is not. More worrisome is its insecurity index. Although it is no where close to those of Northwest and Northeast, it is a jump from where it used to be a few years ago when it was adjudged as by far the most peaceful and secure region in Nigeria. Things fall apart.
With its mineral resources and well-educated, entrepreneurial people, the region should be fast industrializing and enhancing Nigeria’s export trade. But it is not doing so. How should the Southeast begin to redeem itself and move more assuredly towards its destiny as the nation’s economic powerhouse? The path to this future goes through the past. We need to go back to the 1960s when Eastern Nigeria was the fastest growing economy in the world, outperforming the likes of Singapore, Bangladesh, and Taiwan. There was something different about that burst of entrepreneurial energy by the government of Eastern Nigeria under M.I. Okpara and Nnamdi Azikiwe and a clique of well-educated technocrats. That something is politics.
Many people have argued that economic development itself is a handmaid of politics or at least related to politics in an inseparable way. That is why it used to be called political economy before Adam Smith. The great performance of Eastern Nigeria in the 1960s is because it has a
more development-oriented politics. The region was a something like a developmentalist state. Today, under the ideological sway of neoliberal economics, it is no longer fashionable to describe a state as a developmentalist state. But strangely, most of the real economic transformations we have witnessed in the world occurred in countries that were somewhat developmentalist and not neoliberal, whether England, starting from the 1820s (as recognized by Karl Polanyi) or the United State under Alexaner Hamilton as Secretary of Treasury, or even East Asia the likes of General Park (as argued by Chalmers Johnson, Robert Wade, and Peter Evans).
Chalmers Johnson in his classic “MITI and the Japanese Miracle: The Growth of Industrial Policy claims Japan as a developmentalist state and shows the elements of developmentalism which is the idea of the function of state as the pursuit of development in the form of ‘techno-industrialism’. One core element of developmentalism is that the economic policymaking is based on ‘plan -rationality’, rather than ‘market-rationality’. Developmentalist economies are planned economies without the autarchy. The state creates a pilot agency to coordinate transition to advanced productivity through a level of coherence and coordination that the market cannot achieve. The heart of the success of developmentalism is elite consensus
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“Therearesomeelementswithinthatarealsofightingme,whoarealso benefitingfromthesystemandthatisthegreatestproblemwehave andIjustpretended.Iwillflushthoseelementsoutandsendthemto ICPCtohandlethembecausenobodycanholdthiscountrytoransom”
Continued on page 38 Continued on page 38
--MinisterofWorksDavidUmahithreateningtoflushoutcivilservants connivingwithcontractorstofrustrategovernment’s policies.
Israeli Prime Minister Netanyahu Mahmoud Abass, President of the State of Palestine
Ngozi Okonjo-Iweala
Th E hORI z ON kayode.komolafe@thisdaylive.com 0805 500 1974
g UEST COLUMNIST