TUESDAY 12TH OCTOBER 2021

Seplat’s Energy Transition Plan for National Growth Gets FG's Endorsement Emmanuel Addeh in Abuja Seplat, Nigeria’s foremost indigenous oil & gas company has disclosed its readiness to champion the quest to improve Africa’s energy access by repurposing its operations with a focus on cleaner energy.

The indigenous oil concern said this flowed from the decision to make sure that the country was

committed to carbon neutrality upon the realisation that something must be done by everyone concerning decarbonisation.

This emerged even as the government has pledged to partner the company to achieve its energy transition plan, comprising the universal access to energy by 2030; zero carbon emission by 2050; and industrialisation to alleviate poverty

and drive economic growth, The Vice President, Prof. Yemi Osinbajo, who was at the second Seplat Energy Summit, held at the Transcorp Hilton, Abuja, recently, where the company transitioned to an energy company with renewables and cleaner energy the priority, described the move as laudable.

He stated that the company had put the right foot forward, adding

that the company, along with others would assist the country to meet its net-zero emissions plans by 2050 through the COP26 Energy Transition Council (ETC) process.

Represented by the Minister of State for Environment, Sharon Ikeazor, Osinbajo said Nigeria’s energy transition cannot be limited to incremental steps but transformational ones.

“Nigeria needs a broader set of policies that must align with energy security, which must foster a smooth energy transition across various levels of energy demands, and gas will continue to play a critical role in Nigeria’s energy transition which will create lots of opportunities in Nigeria’s energy value chain.

“Over the next decade, every

energy segment in Nigeria will be affected by this shift in energy supply and demand, ’’he stated.

Seplat Energy Plc's Chairman, Ambrose Orjiako, said to achieve the cleaner energy provision goal, the company plans, along with its associates, to replace all of the wood people use in homes with the use Continued on page 11

Report: 44% of Nigerian Girls Married Before 18th Birthday... Page 8 Tuesday 12 October, 2021 Vol 26. No 9682. Price: N250

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Nigeria to Commence Local Production of Weapons, Says President

Directs Defence Ministry to take initiative Set to deemphasise over-dependence on foreign supplies Assures of completion of key projects like second Niger bridge before leaving office

Deji Elumoye in Abuja President Muhammadu Buhari, Monday, stressed the readiness

of the federal government to deemphasise dependence on foreign supply of military weapons to fight security challenges facing the nation

by commencing local productions.

To this end, he has instructed the Ministry of Defense to create a modest military industrial complex

for the local production of weapons to meet some of the requirements of the country's armed forces.

The President made this dis-

closure in his opening remarks at a two-day Mid-Term Ministerial Performance Review Retreat, organised to assess progress made

towards the achievement of the nine key priorities of his Administration.

Continued on page 11

In Break with Buhari, Osinbajo Wants Naira Devalued to Market Rates Analysts urge caution, say local production, exports way out of FX crisis Adesina: $15bn annual investment required to bridge infrastructure gap

James Emejo and Olawale Ajimotokan in Abuja In a major break with President Muhammadu Buahri who has consistently opposed the devaluation of the naira, the Vice President, Prof. Yemi Osinbajo, yesterday openly advised the Central Bank of Nigeria (CBN) to adjust the naira exchange rate “to be as reflective of the market as possible to boost supply.”

Past efforts to persuade the president to allow the adjustment of the exchange rate had met a brick wall.

Continued on page 11

...POLITICAL NOTES The retreat provided a platform for both Osinbajo and Adesina to showcase themselves, leaving many wondering if it was a quasi-presidential debate. Is Osinbajo running? Is Adesina running too? There are indications that some PDP leaders may be wooing Adesina as their southern presidential candidate. THISDAY will keep you posted…

WHO IS PERFORMING AND WHO IS NOT?...

L-R: Speaker, House of Representatives, Femi Gbajabiamila; Vice President Yemi Osinbajo SAN; President Muhammadu Buhari and Senate President, Ahmad Lawan, during the first day of the 2-day Mid-Term Ministerial Performance Review Retreat at the State House, Abuja … yesterday

2023: No Rift Between Tinubu, Osinbajo, Says Ojudu... Page 10

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

NEWS

CERTIFICATE OF INCORPORATION OF NNPC LIMITED...

L-R: Minister of State for Petroleum Resources, Chief Timipre Sylva; President Muhammadu Buhari; Registrar-General, Corporate Affairs Commission, Alhaji Abubakar Garba and Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari, presenting the certificate of incorporation of NNPC Limited to the President at the State House, Abuja… recently

W’Bank: Nigeria, 46 Other Low-income Countries' Debt Burden Rose 12% in 2020 to $860bn Ndubuisi Francis in Abuja

The debt burden of the world’s 47 low-income countries, including Nigeria, rose 12 per cent to a record level of $860 billion in 2020, according to a new report released at the on-going hybrid annual meetings of the World Bank/International Monetary Fund (IMF) in Washington DC. The new International Debt Statistics (IDS) 2022 report observed that governments around the world responded to the COVID-19 pandemic with massive fiscal, monetary, and financial stimulus packages.

It added that while these measures were aimed at addressing the health emergency, cushioning the impact of the pandemic on the poor and vulnerable and putting countries on a path to recovery, the resulting debt burden of the

world’s low-income countries rose 12 per cent in 2020.

The report noted that greater debt transparency was critical in addressing the risks posed by rising debt in many developing countries.

To facilitate transparency, International Debt Statistics 2022, was expanded to provide more detailed and disaggregated data on external debt than ever before.

The data now gives the breakdown of a borrowing country’s external debt stock to show the amount owed to each official and private creditor, the currency composition of this debt, and the terms on which loans were extended. For DSSIeligible countries the data set was expanded to include the debt service deferred in 2020 by each bilateral creditor and the projected month-by-month

debt-service payments owed to them through 2021.

According to the World Bank report, even prior to the pandemic, many low- and middle-income countries were in a vulnerable position, with slowing economic growth and public and external debt at elevated levels.

The report revealed that external debt stocks of lowand middle-income countries combined rose 5.3 per cent in 2020 to $8.7 trillion.

The report indicated that the deterioration in debt indicators was widespread and impacted countries in all regions.

Across all low- and middleincome countries, the rise in external indebtedness outpaced Gross National Income (GNI) and export growth.

Low- and middle-income countries’ external debt-to-GNI

ratio (excluding China) rose to 42 per cent in 2020 from 37 per cent in 2019, while their debt-to-export ratio increased to 154 per cent in 2020 from 126 per cent in 2019.

In response to the unprecedented challenges posed by the pandemic and at the prompting of the World Bank Group and the International Monetary Fund, in April 2020, the G20 launched the Debt Service Suspension Initiative (DSSI) to provide temporary liquidity support for low-income countries.

The G-20 countries agreed to extend the deferral period through the end of 2021. In November 2020, the G20 agreed on a Common Framework for Debt Treatments beyond the DSSI, an initiative to restructure unsustainable debt situations and protracted financing gaps

in DSSI-eligible countries.

Overall, in 2020, net inflows from multilateral creditors to low- and middle-income countries rose to $117 billion, the highest level in a decade.

Net debt inflows of external public debt to low-income countries rose 25 per cent to $71 billion, also the highest level in a decade.

Multilateral creditors, including the IMF, provided $42 billion in net inflows while bilateral creditors accounted for an additional $10 billion.

The new IDS report called for an encompassing approach to managing debt to help low- and middle-income countries assess and curtail risks and achieve sustainable debt levels.

The World Bank Group President, David Malpass said: “We need a comprehensive approach to the debt problem,

Despite Challenges, Nigeria's Banking System Safe, Sound, NDIC Assures James Sowole in Abeokuta The National Deposit Insurance Corporation (NDIC) has declared that despite the devastating effects of the COVID-19 pandemic and other challenges, Nigeria's banking system remains safe and sound.

Managing Director and Chief Executive of NDIC, Mr. Bello Hasan, stated this in Abeokuta, Ogun State, yesterday, at a workshop for law enforcement agencies.

The workshop, which drew participants from legal departments of financial regulatory agencies, banking supervision department and law enforcement agencies, had as its theme: "Effective Investigation and Prosecution of Banking Malpractices in Nigeria."

Hassan stated, "We know that we are passing through several unprecedented challenges in the industry. But despite these, the regulatory agencies are taking various measures to ensure that banks remain safe and sound.

"According to report, despite the effects of the pandemic and

looking at the various financial standing indicators, the banking system is safe and sound.

"Looking at capitalisation, the earnings and liquidity I can confidently say base on these financial standing indicators, the Nigeria banking system is safe and sound and resilient."

The NDIC boss said the corporation had begun payment of compensation to customers of 42 banks, whose licences were withdrawn by the Central Bank of Nigeria (CBN), last year.

Bello, who could not disclose the amount that had been paid or the number of depositors that had been settled, said the NDIC would also realise the assets of the affected banks to ensure that depositors are settled.

He stated, "The 42 banks that CBN withdrew their licences last year, we have already paid the insured amount and we are working hard to realise the assets of those liquidated institutions so that we can pay depositors of those failed institutions. The customers are still coming forward to be paid."

To check alleged insider

abuse and involvement in fraud and robbery incidents, Bello advised banks to take measures right from the time they are employing their staff.

"Banks should strengthen their security, they should do a proper control and do a lot of background checks on their staff to ensure that they employ people that are fit and proper for employment," he added.

In his goodwill message, Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, explained that the directive to bankers to declare their assets was not to witch-hunt them, but to save Nigeria from another serious crisis in the banking sector.

The EFCC chairman said the directive aimed at clearing, "the rots that permeate the nation’s banking sector" was misconstrued by some people he said were ignorant.

Bawa, who was represented by the Lagos Zonal Commandant of the commission, Ahmed Muhammad Ghali, vowed that, despite the stiff opposition of

the policy, the anti-graft agency would not relent in its efforts in sanitise the country’s financial institutions.

He said the policy became imperative to salvage the banking sector from corruption, insisting that Nigeria cannot afford to go through another serious crisis in the banking sector.

The EFCC chairman lamented what he called, "a slew of corrupt practices," in the banking sector, disclosing that, the commission had prosecuted and secured numerous convictions against bankers, including those who had retired from practice.

He called on bankers, financial institutions and other security agencies to partner with the commission in ridding the country of corruption and other financial crimes.

Bawa said, "I recall that upon assumption of office, one of the major pronouncements I made was giving a directive to bankers to declare their assets before June 1, 2021.

"I had given the directive genuinely out of sincerity of purpose, knowing the rots that

permeate the nation’s banking sector.

"In other words, the directive was born out of efforts to sanitise the banking sector.

But it was received with mixed feelings.

"It is obvious that those who kicked (or are still kicking against the directive are ignorant of the unmistakable details of the Bank Employees Declaration of Assets Act. "Unlike the claims in some quarters, it is not a witch-hunt; rather, it is part of measures to sanitise the country’s financial institutions.

"We are aware of the different shades of fraudulent activities going on in our financial institutions, particularly in the banking industry sector.

"In dealing with this situation, the EFCC, under my watch, has intensified its engagement with bank executives, more than ever before.

"The nation cannot afford to go through another serious crisis in the banking sector; and this explains the constant intervention by the EFCC."

including debt reduction, swifter restructuring and improved transparency. Sustainable debt levels are vital for economic recovery and poverty reduction.”

Similarly, Senior Vice President and Chief Economist of the World Bank Group, Carmen Reinhart, said: “Economies across the globe face a daunting challenge posed by high and rapidly rising debt levels. Policymakers need to prepare for the possibility of debt distress when financial market conditions turn less benign, particularly in emerging market and developing economies.”

It revealed that the World Bank would soon publish a new Debt Transparency in Developing Economies report that takes stock of debt transparency challenges in low-income countries and lays out a detailed list of recommendations to address them.

International Debt Statistics is a longstanding annual publication of the World Bank featuring external debt statistics and analysis for the 123 low- and middle-income countries that report to the World Bank Debt Reporting System (DRS).

The Department for International Development (DFID) in August 2017 listed Nigeria and 46 others (mostly from Africa) as Low-Income Countries (LIC).

They include Afghanistan, Bangladesh, Benin Republic, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Côte d’Ivoire, and Democratic Republic of Congo, Others are Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Haiti, Honduras, Kenya, Kyrgyz Republic, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Myanmar, and Nepal.

Also on the LIC list are Niger, Pakistan, Papua New Guinea, Republic of Congo, Rwanda, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Tajikistan, Tanzania, The Gambia, Togo, Uganda, Yemen, Zambia, and Zimbabwe.

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CONSECRATION AND ENTHRONEMENT CEREMONY...

L-R: Ogun State Governor, Dapo Abiodun; Chairman, Christian Association of Nigeria (CAN), Ogun State chapter, Rt. Dr. Tunde Akin-Akinsanya; his wife, Yetunde and the Akarigbo of Remoland, Oba Babatunde Ajayi, during the consecration and enthronement of Akin-Akinsanya as Bishop of the Communion Faith Assembly International, at the main auditorium of Christ Life Church, Garden of Victory, Ibadan... on Sunday

New York Listing: IHS to Become Largest African Company on Wall Street Peter Uzoho with agency report An African operator of mobile phone masts, IHS Towers might become the largest Africa-focused company on Wall Street if its New York listing goes ahead this week.

The company, which is 29 per cent owned by MTN, is dialling down the hype for its second attempt at an initial public offering (IPO) as it prepares for a listing on the New York Stock Exchange.

According to Reuters, with a market value of up to $8 billion, the company appears designed to win over even the most skeptical investor.

The move is expected to unlock value for the pan-African mobile operator.

The tower company, which has a presence in Latin America, the Middle East and sub-Saharan Africa and manages towers for mobile telecom transmitters, has become stock market darlings due to its growth prospects and predictable cash flows, the report added.

The company operates 30,000 masts, of which more than half are in Nigeria. It is offering 22.5 million shares, of which 18 million is new stock and 4.5 million are being sold by existing shareholders. The underwriters of the initial public offering also have an option to purchase an additional 2.7 million

new shares and 675,000 shares from existing investors. The shares will be priced between $21 and $24 each.

Choppy markets forced IHS and regional rival Helios Towers to shelve listing plans in 2018. The smaller Helios completed an IPO in London the following year and shareholders who bought in have enjoyed an annualised return of 18 per cent, including dividends.

IHS Chief Executive, Sam Darwish, according to the report, was keeping his feet on the ground, though. Including debt, US and European operators like American Tower and Cellnex Telecom are worth over 20 times their forward Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA), the report stated.

Helios trades on 13 times, reflecting the continent’s elevated political, credit and currency risk.

Operating towers in the Kalahari Desert or East African savannah also involves the additional hassle of installing power generators and solar panels.

“IHS transmits similar risks.

More than half its 30,000 towers are in Nigeria, the continent’s most populous nation but also one of its most turbulent. Oil accounts for around 80 per cent of Nigerian exports, making its currency prone to devaluations.

Its government also has a habit of shaking down foreign-owned

companies, as South African mobile phone giant MTN – IHS’s main shareholder - can attest.

“This fuzzy signal is reflected in IHS’s valuation. If its adjusted EBITDA keeps growing at the same 21 per cent compound annual

Chairman of the Caretaker/ Extraordinary Convention Planning Committee and the Governor of Yobe State, Mai Mala Buni has said the Southeast, hitherto referred to as the stronghold of opposition parties, was gradually melting into the APC and increasing the fortunes of the party to remain Nigeria's leading political party.

Buni stated this yesterday during the inauguration of the national reconciliation committee of the party at the national headquarters of the party in Abuja.

He said the caretaker committee found it expedient to constitute the National Reconciliation Committee to reconcile emerging misunderstandings and differences, which might arise from the outcome of the congresses.

Buni said it was worthy of note that following the National Executive Committee (NEC) resolutions of 25th June 2020 and 8th December 2020, the party has progressed significantly with purposeful and productive leadership that promoted justice, equity, fair play and genuine reconciliation to give every party member a true sense of belonging.

He added that it was gratifying

that loyal party members had complied with the directive to withdraw the multiple court cases instituted against the party, noting that this had no doubt contributed to the speedy reconciliation and rebirth of the party, and was proud to say the ruling party was more united, stronger and bigger.

The Yobe governor noted that the leadership of the party had in the last sixteen months constituted various committees to serve the party, some of which were still on-going.

He added that members of the committees had served with a high sense of commitment and dedication which contributed immensely to the milestone achievements recorded by the party Buni recalled when he met the APC National Assembly caucus on 24th November 2020, saying, where he assured them that APC would shock Nigeria’s political space, with massive and unprecedented defections ever witnessed in the political history of our great country.

He stated: "Today, the South East geo-political zone, hitherto referred to as the stronghold of opposition parties, is gradually melting into the APC and increasing the fortunes of APC to remain Nigeria's leading political party."

He said with the support

“That suggests a modest 10 times multiple and a discount to both Helios and Cellnex, even though all three firms generate about $30,000 of EBITDA per tower.

“Given past disappointments, Darwish is wise not to be too

greedy. He will be hoping to emulate the decent post-IPO performance of Helios and African online retailer Jumia Technologies, which also listed in 2019. If he succeeds, investors will enjoy a pleasant safari,” it added.

Report: 44% of Nigerian Girls Married Before 18th Birthday Says child marriage kills more than 60 daily worldwide UNICEF: Over 1.3m females drop out of school annually in Nigeria Lawyers seek reduction in digital gender gap Alex Enumah, Adedayo Akinwale, Kuni Tyessi in Abuja As the world yesterday commemorated the International Day of the Girl Child, a new report by the Save the Children International has revealed that gender inequality had continued to fuel child marriage, with an estimated 44 per cent of girls in Nigeria married before their 18th birthday, one of the highest rates of child marriage globally The report also disclosed that child marriage kill more than 60 girls daily worldwide.

Similarly, the United Nations Children's Fund (UNICEF) has revealed that in Nigeria, an estimated 1.3 million girls drop out of school each year before reaching the last year of lower secondary school,

South-east Fast Melting into APC, Says Buni Adedayo Akinwale in Abuja

growth rate of the past four years, it should reach around $1 billion this year. At $24 per share – the top end of the published price range – its enterprise value would be nearly $10 billion, after factoring in nearly $2 billion of net debt.

and cooperation enjoyed from all party members, three sitting Governors of Ebonyi State, Mr. Dave Umahi; Cross River State, Prof. Ben Ayade and Zamfara State, Bello Muatawalle as well as members of their state assemblies, two former Speakers of the House of Representatives, Hon. Yakubu Dogara and Hon. Dimeji Bankole and former National Chairmen of other political parties had joined the APC. Buni also said the senators and members of the House of Representatives, state legislators, chieftains and members of Board of Trustees of the opposition party and their supporters hadalso joined the APC. He cited Anambra state, where the ruling party was contesting the forthcoming governorship election, adding that the party recently received five serving, and four former members of the House of Representatives, nine members of the state assembly and chieftains of PDP and APGA into the APC, paving the way to the victory in the November governorship election.

Buni pointed out that the Membership Registration and Revalidation Exercise carried out by the party was another major milestone achievement for the party, stressing that it was a crucial tool in the recovery of the party.

also known as Junior Secondary School, three (JSS 3).

In a related development, the Federation of Women Lawyers (FIDA) yesterday called on government at all levels in Nigeria to do everything possible to reduce the digital gender gap in the country.

The Save the Children International, a global organisation, said girls in Nigeria were living in difficult times as a result of armed conflict, humanitarian crisis, kidnapping, natural disaster, displacement, COVID-19 pandemic, and economic recession.

The organisation stated this in this year's Global Girlhood Report titled, “The State of Nigerian Girls: An Incisive Diagnosis of Child, Early and Forced Marriage in Nigeria.”

The group stated that Nigerian girls were living in one of the most difficult times,.

It added that millions of girls faced the risk of being pushed into deprivation, including reduced access to education, nutrition, lack of protection and lack of access to basic social services.

It stated, "More than an estimated 22,000 girls a year are dying from pregnancy and childbirth resulting from child marriage, new analysis from Save the Children released on International Day of the Girl reveals.

"With the highest rate of child marriage in the world, West and Central Africa accounts for nearly half (9,600) of all estimated child marriage-related deaths globally, or 26 deaths a day. The regional teenage maternal mortality rate is four times higher than anywhere else in the world."

The report stated that said South Asia presently saw about 2,000 child marriage-related deaths every year (or six every day), followed

by East Asia and the Pacific with 650 deaths (or two every day), and Latin American and the Caribbean, with 560 annual deaths (or nearly two a day).

It noted that although nearly 80 million child marriages globally had been prevented in the last 25 years, progress had stalled even before the COVID-19 pandemic—which has only worsened inequalities that drive child marriage.

The report said with school closures, health services under strain or closed, and more families being pushed into poverty, women and girls faced an increased risk of violence during lengthy lockdowns.

The report estimated that 10 million girls were expected to marry by 2030, leaving more girls at risk

of dying.

Meanwhile, UNICEF has stated that to close the huge gap of outof-school female children in Nigeria, compared to that of the boys, digital inclusion, and specifically digital literacy, was key. It stressed that this was becoming crucial to well-being and success, as the ability to read and write.

UNICEF Deputy Representative, Mrs.Rushnan Murzata, who revealed these in Abuja, said adolescent girls were particularly vulnerable to societal dynamics that limited their transition from primary to secondary school.

With the 2021 theme tagged "Digital Generation: Our Generation, Digital Revolution: Not without Girls", the deputy representative stated, "Today we want to focus on two concerns to improve the lives of adolescent girls and provide them with equal opportunities: transition to secondary education and digital literacy, digital access and use."

Murzata said the theme of this year's celebration came amid efforts to recover from the COVID-19 pandemic and the need to build a future generation with employability skills development.

She said, "Over 1.3 million Nigerian adolescent girls are estimated to drop out every year before reaching the last year of lower secondary education.

"The gender digital divide in connectivity access to devices and the skills to use are real. Girls are less privileged in this area. This inequality has created an exclusion gap across geographies and generations. If we want to make digital revolution for all, and by all, a reality, then we need to act now with and for girls."

In a similar vein, Minister of Women Affairs, Paulen Tallen, stated that the report showed the average transition rate from lower basic education to upper basic stood at 58 per cent for the northern states of Kano, Katsina, Kebbi, Sokoto and Zamfara.

Represented by 12 years old Nana Firdausi Bashir from Kebbi State, the minister stated that the national average for girl's transition from primary to junior secondary stood at 64 per cent, nothing that even the national average was unacceptable.

She lamented that despite the opportunities that came as a result of the COVID-19 pandemic, losses were also recorded such as "Online learning came with series of challenges, including access to data, poor digital skills for learner's, teachers and parents and unavailability of

the necessary equipment."

She added that statistics had shown that 89 per cent of learners did not have home computers, 82 per cent did not have internet; with girls more likely to be cut off, and 37 per cent of the youths remained unemployed due to lack of digital skills to match current required labour skills.

Female Lawyers Seek Reduction in Digital Gender Gap

FIDA, in a statement, lamented that just as the girl child was disadvantaged in education, she also had disadvantage in the area of digital technologies.

Country Vice President/National President, Mrs. Rhoda Tyoden stated said, "We acknowledge that to relate in our modern world today, digital literacy is an essential skill without which girls will have fewer employment opportunities and will face additional barriers to workforce participation.

"We must, therefore, appreciate this challenge and then seek to properly equip them to be great in this generation.

"While we are still grappling with tackling the ills faced by the girl child, we need to also work towards mitigating the digital gender gap so we can equally create opportunities and carve a niche for girl child participation."

Referencing a UNICEF report, Tyoden stated that while the COVID-19 pandemic accelerated digital platforms for learning, earning, and connecting, some 2.2 billion people below the age of 25 still did not have Internet access at home.

Stating that the gender gap for global Internet users grew from 11 per cent in 2013, to 17 per cent in 2019, FIDA argued that girls were more likely to be cut off.

It said, "In the world’s least developed countries, it hovers around 43 per cent; this calls for grave concern. Inequality in education is also a major contributor to the gender digital divide.

"To this end, FIDA Nigeria calls for collective efforts from all – the government, parents, guardians, civil society organisations, FBOs, international institutions, and their agencies – to help the plight of the Nigerian girl-child by educating them, bridging the inequality and digital gender gap, and creating opportunities for them to culminate Continued on page 10

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OYO GETS NEW CUSTOMARY COURT PRESIDENT...

L-R: Oyo State Governor, Seyi Makinde; new President, Oyo State Customary Court of Appeal, Justice Moshood Abass; representative of Olubadan of Ibadanland, High Chief Eddy Oyewole and Speaker, Oyo State House PHOTO: Oyo State Government. of Assembly, Debo Ogundoyin, during the swearing-in of Justice Abass as President, Customary Court of Appeal, held at the Governor's Office, Ibadan... recently

2023: No Rift Between Tinubu, Osinbajo, Says Ojudu Deji Elumoye in Abuja The perceived rift between the Vice President, Prof. Yemi Osinbajo and theNational Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, ahead of the 2023 presidential election is a ruse.

Special Adviser to the President in the Office of the Vice President, Senator Babafemi Ojudu, made the clarification in a statement entitled - "2023 Presidential Election: No To Divisive Politics, Attempts to Foist A Crack Between Osinbajo,

Tinubu Will Fail," yesterday.

According to him, there had been recent attempts in both the print and electronic media to pitch Osinbajo against Tinubu over the 2023 general elections, saying such reports did not have the backing of the vice president.

While not claiming ignorance of those who may want to create crisis between Osinbajo and Tinubu, Ojudu said such attempts were dead on arrival, adding that the relationship between the duo which dated back to several years would continue to wax stronger.

He, therefore, called on sponsors of such reports to desist forthwith, saying the APC remains a united party and Osinbajo a loyal party member that has due respect for the structure and leadership of the party.

Stressing that the vice president has not declared interest in the 2023 presidential election, the presidential adviser, however, said Osinbajo would not commence any politicking until the electoral umpire, INEC, blows the whistle in this regard.

While wishing Tinubu good

health as he returns to the country, Ojudu expressed hope that the APC National Leader would imbibe the doctrine of politics without bitterness and divisiveness.

The statement stated inter alia: "My attention has been drawn to a media engagement on Channels TV this morning and a front page story of Daily Independent today.

"On Channels TV Sunrise programme two persons supposedly representing Asiwaju Support Group and Osinbajo

Support Group were pitched against each other. On the other hand, Daily Independent ran an headline thus: 2023 Presidency: Osinbajo On a Collision Course With Tinubu, Pushes To Succeed Buhari "It is incumbent on me to state emphatically that neither the Vice President nor his office is aware of this or endorse this kind of a divisive engagement and news reports. Asiwaju Bola Ahmed Tinubu and Vice President Yemi Osinbajo are members of same party.

Ugwuanyi Calls for Designation of Enugu as Oil-bearing State Governor Ifeanyi Ugwuanyi of Enugu State has called on the leadership of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) to expedite action on the process of formally designating Enugu as an oil-bearing state in the country.

Ugwuanyi made the request when he received Commissioners and top management team of the RMAFC led by the Chairman, Indices and Disbursement Committee, Chris Akomas, who paid him a courtesy visit at Enugu yesterday.

The delegation from RMAFC is in Enugu for an interactive session with members of the Enugu State Executive Council (EXCO), 17 Local Government Chairmen and other stakeholders in line with the Commission’s ongoing nationwide sensitisation tour of the

36 states and the Federal Capital Territory (FCT) on the review of the existing Revenue Allocation Formula in the spirit of equity, justice and fairness.

Speaking, Ugwuanyi who was represented by his Deputy, Mrs. Cecilia Ezeilo, stated that the request for designation of Enugu as an oil-bearing state became imperative because of the volume of crude oil being harvested from its territory.

The governor drew the attention of RMAFC to the fact that “Enugu is about the only state in Nigeria which produces crude oil in commercial quantities without being formally accorded the status of an oil-bearing state”.

A statement quoted him to have pointed out that, “years of oil exploration in the Enugu/ Anambra/Kogi states joint border corridor have resulted in the

REPORT: 44% OF NIGERIAN GIRLS MARRIED BEFORE 18TH BIRTHDAY into strong women leaders."

Women lawyers also celebrated girls excelling in education, particularly IT, Digital Technology particularly Jessica Osita, Promise Nnalue, Nwabuaku Ossai, Adaeze Onuigbo, Vivian Okoyewho.

The girls from Regina Pacis Secondary School, Onitsha, Anambra State, represented Nigeria and Africa at the World Technovation Challenge in the Silicon Valley, San Francisco, USA won the Gold Medal in the contest.

FIDA said, "They won the challenge with a mobile application called the FD-Detector which they developed to help tackle the challenge of fake pharmaceutical products in Nigeria. They are worthy poster children, so others

can emulate."

FIDA further said it "Celebrates women who are already working in the digital space and call upon them to work more closely with the girl child, helping in creating necessary platforms and opportunities for the girl child to use thereby supporting in closing the gender gap in this sector.

"We also celebrate female digital tech champions such as Adora Nwodo a Software Engineer at Microsoft. Abiola Eniola Aminu, a Product Designer at Flutter-wave.

Omolara Adejuwon, an Editor at ProAndroidDev, amongst others who have so far accomplished giant strides in this sector despite known challenges. They stand today as great inspirations and worthy mentors to the girl child."

successful exploitation of crude oil in the area which includes a large part of Enugu State’s territory”, stressing that, “on a desirable allocation formula for the country, Enugu State government, after considering all the relevant factors and parameters, is proposing 50-50 to the three states.”

Ugwuanyi maintained that Enugu has continued to be the political capital and socio-cultural melting pot of the old Eastern Region of Nigeria, “now carved into nine states,” stating that the south-east geo-political zone had been disadvantaged in terms of infrastructure.

While welcoming the team to Enugu, the governor described the nationwide sensitisation and consultative engagement as timely and in conformity with changing realities, expressing delight that, “RMAFC is laying the good foundations for considering the longstanding agitations of

many Nigerians who have been asking for the use of the revenue allocation template to address and fulfill the collective aspirations of Nigerians for real and sustainable development.”

The governor therefore commended RMAFC for its gallant and selfless decision in embarking on the exercise of full scale engagement of the representatives of various stakeholders and the people of Nigeria to enthrone a generally acceptable revenue sharing formula that would meet the yearning and expectations of the nation’s three tiers of government in the overall interest of the citizenry.

“There is no doubt that the revenue allocation formula currently in use does not reflect the realities of the times and cannot be appropriate for Nigeria as well all seek to concretely move towards a proper federating state where the centre and the federating units have

constitutionally-assigned spheres, powers and responsibilities.

“As a constitutionallyindependent federation executive body, RMAFC is supposed to be a commission operating on behalf of all the federating units and component parts of the federation.

“The reality today in Nigeria is that state governments are overburdened with lots of responsibilities that need funding.

As the tiers of government nearest to the people, the state and local governments bear the main crux of development of the nation.

“Issues of security, healthcare, education, agriculture and food production, social welfare and infrastructural development place enormous burdens on the shoulders of our subnational governments; and this revenue allocation formula review exercise needs to recognize the funding needs of these responsibilities”, the governor added.

"Osinbajo regards Tinubu as a respected leader of a political family to which he belongs and will therefore not for any reason endorse an endeavour that seeks to pitch them against each other.

"We are not unaware of some people who may want to foist a crack among our leaders. Such an attempt is abortive. Osinbajo and Tinubu's relationship dates way back and it shall continue to wax strong.

"Let me therefore call on individuals and media houses engaged in this act to desist from doing so. The APC remains one single, indivisible party and Osinbajo remains a loyal member of the party who respects both the party structure as well as its leadership.

"Moreover, the INEC has not given a go ahead yet for politicking towards 2023. As a law abiding citizen, Osinbajo will not commence any act in this regard until INEC blows the whistle, and in any case the VP has not indicated interest in the 2023 elections "While appreciating individuals who are clamoring for him to contest, we however want to plead that they should not draw him or allow themselves into an unnecessary and precipitous controversy.

"We welcome our great leader, Asiwaju Bola Tinubu back into the country. As a great democrat himself, he will certainly welcome politics without bitterness and divisiveness. We wish him good health, long life and prosperity".

ICPC Docks Ex-Presidential Aide, Obono-Obla over Certificate Forgery Kingsley Nwezeh in Abuja The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned the former Chairman of the Special Presidential Investigation Panel for Recovery of Public Property (SPIP), Mr. Okoi Ofem Obono-Obla, over allegations of certificate forgery.

The commission, in a two-count charge filed at the Jos Judicial Division of the High Court of Plateau State, maintained its allegations that the former SPIP head presented a fake result with a credit pass in English Literature to the University of Jos, with which he secured admission to read law.

A statement issued by the ICPC noted that the charge filed before Justice C. L. Dabup, revealed that while Obono-Obla did not seat for the Ordinary Level, General Certificate Examination (GCE) in English Literature in 1982, he presented a result of the same GCE to the University of Jos, in 1985, containing six Credit from Mary Knoll College, Ogoja.

He was alleged to have committed an offence contrary to and punishable under Section 366 of the Penal Code Law of Plateau State.

Obono-Obla entered a not guilty plea on each of the two-count when they were read to him,

following which his counsel, M.A. Agara, filed an application praying the court to grant him bail on self-recognisance.

Agara had earlier filed a motion contesting the jurisdiction of the court on the matter as well as accused the prosecution of bringing a defective charge before the court and prayed the court not to allow the charge to be read to the defendant.

ICPC’s lead Counsel, Henry Emore, who opposed the motion challenging the jurisdiction of the court, submitted that the defendant was brought before the court because the offense of certificate forgery was allegedly

committed in Jos, where the court seats.

He, however, did not oppose the bail application, but urged the court to admit him to bail on stringent terms.

Justice Dabup, in her ruling on the bail application, admitted Obono-Obla to bail in the sum of N1 million with one surety in like sum. She further ruled that the surety must be resident within the jurisdiction of the court and must submit an affidavit of means including a tax clearance certificate showing evidence of payment for three years.

The case was adjourned to November 25, 2021 for trial.

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ELEVEN IN BREAK WITH BUHARI, OSINBAJO WANTS NAIRA DEVALUED TO MARKET RATES But in quick reaction, analysts cautioned that the suggestion by the vice president could have a damaging effect on the economy. They advised the federal government to improve local production of goods and exports in order to solve the current foreign exchange (FX) crunch.

The experts, who spoke with THISDAY, argued that the effective exchange rate, even by International Monetary Fund (IMF) standard, was between N435 and N440, stressing that the over valuation was less than five per cent.

This is just as the President of the African Development Bank Group (AfDB) Dr. Akinwumi Adesina, yesterday stated that Nigeria requires $15 billion annual investments on infrastructure to bridge the huge infrastructure gap in the country.

They both spoke on the first day of a two-day Mid-term Ministerial Performance Review retreat, presided over by President Muhammadu Buhari.

Osinbajo said the naira exchange rate was artificially low. He lamented that this was discouraging foreign capital inflow to the country.

The vice president called on the CBN to review its strategy on forex and ensure that the naira value reflected the market reality, rather than the “artificially low” rate that was deterring investors from bringing foreign exchange into the country.

He stated, “As for the exchange rate, I think we need to move our rates to be as reflective of the market as possible.

This, in my own respectful view, is the only way to improve supply.

“We cannot get new dollars into the system, where the exchange rate is artificially low. And everyone knows by how much our reserves can grow. I’m convinced that the demand management strategy currently being adopted by the CBN needs a rethink, and that is my view.”

Currently, the naira is changing at N411 to $1 at the official side of the market, while the same goes for about N565 at the parallel market.

According to the vice president, “There must be synergy between the fiscal and the monetary authority. We must be able to deal with the synergy; we must handle the synergy between the monetary authority, the CBN, and the fiscal side.

“Sometimes, it appears that there is competition... If you look at some of the interventions, you will find that those interventions are interventions that should be managed by ministries.

“The Ministry of Industry, Trade and Investment should handle MSMEs interventions, and we should know what the CBN is doing. In other words, if the CBN is intervening in the MSME sector, it should be with the full cooperation and consent of the Ministry of Industry.

“Sometimes you will get people who are benefiting more than once because we simply have no line of sight on what is going on, on one side.”

He stated that there should be one clear economic plan, not two, saying, "We cannot have a CBN-led economic plan and a government-led plan. We would end up duplicating, and even there may be beneficiaries of grants benefiting multiple times."

However, speaking in separate interviews with THISDAY, analysts said the current exchange rate was a direct result of the country’s inability to boost local production and increase exports to, among other things, strengthen the local currency.

The analysts disagreed with Osinbajo’s call for further devaluation of the local currency, warning that the dangers of such move far outweigh the benefits. They said the implications of devaluing the naira could be "quite scary.”

Nigeria currently operates a managed float exchange regime, where the CBN can intervene in the market

whenever it deems appropriate.

Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Abuja Branch, Professor Uche Uwaleke, said the first casualty of another devaluation would be the 2022 appropriation bill.

Uwaleke said, "It means the 2022 budget, which is predicated on N410.15 per dollar, is dead on arrival. The vice president, obviously, means well. But this statement is capable of triggering panic buying and speculation in the forex market (official and parallel) and further complicating things for the CBN." He also said the argument that devaluation would incentivise local investors was questionable, as other variables, particularly, insecurity also acted as disincentive to capital inflow presently.

However, Uwaleke said devaluation would force down the volume of imports and reduce the pressure in the forex market temporarily.

"But have we thought of the impact it would have on pump price of fuel and the multiplier effects?” he asked.

He added, “How about the knock-on with regard to inflation and interest rates, especially, at a time when inflation rate remains elevated?

"Is high inflation rate not inimical to investments, whether local or foreign?

The argument that naira devaluation will incentivise foreign investors remains to be seen, as other factors, such as insecurity, equally play a part."

Uwaleke stated further, "To be sure, the naira has suffered several devaluations in recent past. It has neither

solved the fundamental problem of helping to diversify the export base nor curbed unbridled imports. Doing so yet again will not change anything.

Rather, it's a recipe for high poverty and unemployment levels.

"Again, suggesting that the CBN should discontinue its forex demand management strategy to the effect that certain items are excluded from accessing the official window has grave implications for exchange rate and the economy. If anything, it negates the import substitution drive of the present administration."

However, Uwaleke said the good news was that the CBN had sufficient external reserves to meet genuine demands for forex at the investors and exporters window.

In his contribution, Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said there were several ways of managing the exchange rate crisis, including enhancing local production capacity, which the CBN had been committed to achieving.

Ekechukwu stated, "The situation with our current exchange rate does not have one solution, but a myriad of them, nonetheless, they are interlinked “Enhancing the local production capacity, which creates availability of the products and opportunities to export, must be our focus.

"We need to do everything we can to stop importation of petroleum products, by encouraging as many private refineries as possible to come on board."

thing must be clear, an overvalued exchange rate is not a good thing for a country. Therefore, it is important that you get the exchange rate to a fair value that is acceptable to the market, manufacturers and everybody.

“Right now, there is a perception by the market that the currency is overvalued because the difference between the official and the parallel market rate is so wide that there is a motivation for speculation, which is not good for the economy.

“And the answer to that is to increase supply at an efficient price.

That efficient price is a converged rate because if you move one rate, the other one should naturally appreciate to a fair value. So, the most important thing is that an overvalued exchange rate does more harm to the economy.

“As long as a currency is overvalued, people would begin to bet against that currency. So, what you are seeing today is a bet against the currency that either now or later, the currency would adjust. So, this is a healthy debate, but an overvalued exchange rate is not good for any economy.”

Speaking further at the retreat, Osinbajo stated that despite the challenges of funding and other issues, the implementation of the N2.3 trillion Economic Sustainability Plan (ESP) had made significant impact across different sectors. He said it had also helped the country to effectively tackle the fallout of the COVID-19 pandemic, by creating jobs and safeguarding existing Continued on page 12

SEPLAT’S ENERGY TRANSITION PLAN FOR NATIONAL GROWTH GETS FG'S ENDORSEMENT of Liquefied Petroleum Gas (LPG) which is a cleaner source of energy.

The transitioning to an energy company, the Seplat chairman said, aligns with global trends in energy transition where there is proactive planning for a world where fossil fuels will start to decline in the global energy mix .

He further stated that it was in agreement with the company’s renewed focus on the entire energy value chain with an emphasis on cleaner and more sustainable forms of energy to power Nigeria.

Orjiako pointed out that the

company believes that gas remains the transition fuel, noting that: ‘’Seplat today delivers 50 per cent of gas needs in the country” and “is very aligned with the federal government’s initiative in this regard.”

“We can only see this increasing.

Replacing diesel generators with cleaner renewable energy will solve Nigeria’s power deficit,’’ he added.

He stated that one of the ways the company was focused on making sure the environment is well protected, aside launching its ‘Tree for Life’ project to plant trees that would create jobs and improve the environment from the first

quarter of 2022, was its determined commitment towards ending gas flaring in all of its operations by 2024, six years ahead of government target.

The Minister of State Petroleum Resources, Timipre Sylva, in his comments, said the ministry endorsed Seplat Energy as the flagship company to drive Nigeria’s energy transition.

He called for multiple pathways to energy transition to ensure that no country is left in the process of achieving net-zero emission by 2050.

Sylva noted that it was important to ensure massive efforts towards increasing energy efficiency and

NIGERIA TO COMMENCE LOCAL PRODUCTION OF WEAPONS, SAYS PRESIDENT According to him, the establishment of the industrial complex would address Nigeria’s overdependence on other countries for military equipment and logistics.

The project, he explained, was being implemented under the Defense Industries Corporation of Nigeria (DICON), a military department responsible for arms manufacture.

His words: "To address our overdependence on other countries for military equipment and logistics, I have instructed the Defence Ministry to create a modest military industrial complex for the local production of weapons to meet some of the requirements of the country's armed forces. This is being implemented under the Defence Industries Corporation of Nigeria (DICON), a military department responsible for arms manufacture".

On other steps being taken by his government to strengthen national security, President Buhari said it was gratifying to note that Nigeria has received six A-29 Super Tucano propeller-driven aircraft, which were currently being used for training, surveillance and attack by the military.

"It is gratifying to note that only recently, we received six A-29 Super Tucano aircrafts as part of our efforts to boost the nation's campaign against insecurity. The propeller-driven aircrafts are being used for training, surveillance and attack by the Military.

“As part of the efforts towards strengthening our national security, we have increased investments in arms, weapons and other necessary equipment; expanded the National Command and Control Centre to nineteen states of the federation; and established a Nigerian Police Trust Fund, which will significantly improve funding for the Nigeria Police Force.

“We have also approved the sum of N13.3 billion for the take-off of the Community Policing initiative across the country, as part of measures adopted to consolidate efforts aimed at enhancing security nationwide," he added.

He highlighted some of the federal government’s notable achievements in the last two years

Ekechukwu added, "Insecurity has indirect adverse effect on our exchange rate in many ways. These are the things to address, in order to contain the soaring exchange rate in the short run."

Similarly, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said the country needed to boost local output and strengthen its export capacity in order to resolve the exchange rate disparity.

Gbolade explained, "The major challenge with FX rate has been that Nigeria has been exporting less goods and services than it imports over the years.

"This problem has persisted with various administration and the intervention policy of the CBN is just to ensure that international trade improves within the confines of our reserves."

He also said, "Devaluation of the naira now, though a good initiative, could hamper efforts to increase production and international trade."

But the Managing Director of the Financial Directive Company Limited, Mr. Bismark Rewane, argued that the solution to the present challenge the forex market was, “to increase supply at an efficient price.”

Rewane, who is a member of President Buhari’s Economic Advisory Council, described the suggestion by the vice president as a healthy debate.

He added: “Technically, what you are looking for is convergence of rates towards a fair market value. One

by in the areas of infrastructure, transportation, economy, electricity supply and the petroleum industry, among others.

The President also assured Nigerians that the 11.9km Second Niger Bridge, 120 km Lagos-Ibadan Expressway and other key projects under the Presidential Infrastructure Development Fund (PIDF) would be completed within the second term of this administration.

He said, "On transportation, we are growing the stock and quality of our road, rail, air and water transport infrastructure. The PIDF projects are also advancing remarkably. These include the 11.9km Second Niger Bridge, 120 km Lagos-Ibadan Expressway, 375 km Abuja – Kaduna – Zaria – Kano Expressway and the East West Road. Most of these projects are expected to be completed within this 2nd term of our Administration.”

President Buhari noted that his administration had made tremendous progress on railway projects in the country, noting that upgrading of the railway network was being extended with the recent completion of the Lagos–Ibadan line.

“The Itakpe-Ajaokuta rail line has finally been completed and commissioned after 30 years of its conception. Work is expected to commence very soon on the Port-Harcourt Maiduguri line and Calabar – Lagos Coastal Line to connect the Southern and Eastern States of our Country. Progress is also being made on the upgrading of our Airports, with the state-ofthe-art facilities in line with world class safety standards,” he said.

President Buhari expressed delight that over the past two years, Ministers have rendered reports to the Federal Executive Council on their activities related to the achievement of their Ministerial Mandates.

“Some of the notable achievements include the establishment of InfraCo Plc in 2020, as a world class infrastructure development vehicle, wholly focused on Nigeria, with combined debt and equity take-off capital of N15 trillion, to be managed by an independent infrastructure fund manager.

“The Presidential Infrastructure

Development Fund was also established in 2020 with more than USD 1Billion in funding. In addition, we have launched the Nigeria Innovation Fund by the Nigerian Sovereign Investment Authority (NSIA). This is aimed at addressing investment opportunities in the domestic technology sector: data networking, datacenters, software, Agri-tech, Bio-tech, and more”.

On the economy, the President said the nation witnessed three consecutive quarters of growth, after negative growth rates recorded in the second and third quarters of 2020.

He said, "The GDP grew from 0.8% in 2017 to 2.2% in 2019, but declined in the first quarter of 2020, as a result of the downward trend in global economic activities triggered by the COVID-19 Pandemic. As at Second Quarter 2021, GDP growth rate was at 5.01%, the highest since the inception of this Administration.

Commenting on the power sector, President Buhari noted that the implementation of a ‘Willing BuyerWilling Seller’ Policy has opened up opportunities for increased delivery of electricity to underserved homes and industries.

He expressed the hope that the execution of critical projects through the Transmission Rehabilitation and Expansion Programme, will result in achieving the national goal of improved power supply by 2025.

On the Petroleum Industry Act signed into law on 16th August 2021, the President reiterated his directive to the Implementation Committee to complete all processes for the successful operationalisation of the Act within 12 months.

On efforts to empower the youth and other vulnerable groups by enhancing investments in the Social Intervention Programmes, the President said he has approved the expansion of the National Social Register (NSP), which is the official database for the implementation of the Conditional Cash Transfer programme by one million additional households.

According to him: "We have established the N75 billion Nigerian Youth Investment Fund created to boost the Nigerian economy through leverage and access to

finance for youths.

“The Fund should serve as a catalyst to unleash the potential of the youth and to enable them to build businesses that will stimulate economic growth and create jobs. These accomplishments are a testament to the fact that all hands are on deck in establishing a solid foundation for even greater successes in future”.

He warned all Ministers and Permanent Secretaries to take seriously all issues relating to the implementation of their mandates towards the attainment of the laudable objectives of the government.

President Buhari used the opening ceremony to unveil the Presidential Priorities Performance Management System and Dashboard, explaining that the initiative, which has been in effect since January this year, had provided him the opportunity to track projects in real-time with live data.

His words: "In our continuing drive to ensure accountability, we have incorporated a Performance Management Framework into the functions of the Central Delivery Coordination Unit for ease of tracking of the Ministerial Deliverables along the lines of the nine priority areas of this administration.

“This initiative has provided me the opportunity to track the performance of all ministries and by extension my administration.

This process has been in effect since January 2021 and today, it gives me great pleasure to unveil the Performance Management System and Dashboard to track projects in real-time with live data and early warning system to proactively resolve bottlenecks”.

In view of the importance of this year’s retreat, President Buhari announced that he would sit through all the sessions to listen to the cumulative assessment of this administration’s performance over the last 2 years.

Equally, the President would join in discussions on the best approach and strategies to implement planned policies, programmes and projects that could significantly diversify the economy away from its dependence on oil revenue, while sustaining the current economic growth trajectory.

productivity by facilitating changes in consumption patterns and lifestyle choices which will expand renewable energy for power supply and directions within and across the country.

“We believe that renewable energy offers favourable prospects for localised entities, because of the complexities of technology transfer, and the intensity of the slow, and medium-scale for segments,” Sylva said.

One of the keynote speakers, Pulitzer Prize-winning author, and energy commentator, Daniel Yergin, who spoke on the need for the global shift from fossil fuel to other energy forms, called for more diversity in the energy mix to improve energy access. ‘’ The more diversity you have in your energy mix, the more energy security you have," he stressed.

Yergin took the audience on an enthralling ride on the base of his book, ‘'New Map -Energy, Climate Change and the Clash of Nations'', and enlightened them on the various issues of geopolitics and energy in the era of rising political turbulence fuelled by the call for transitioning and why some countries are sceptical of the process.

Chief Executive Officer and Special Representative of the United Nations Secretary-General for Sustainable Energy for All, Ms. Damilola Ogunbiyi, in her presentation on '"Balancing Sustainability Revolution with Energy Poverty- Lessons from around the World”, said African countries must realise the opportunities inherent in transitioning to cleaner energy to improve its access for the continent's growth.

In his intervention, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said gas resources would help Nigeria to close the gap in the transition to clean energy.

The summit which saw Seplat unveil its new logo, had in attendance ministers, governors, members of the National Assembly, royal fathers of Seplat Energy’s host communities, leaders of public and private institutions, investors, and heads of shareholder groups.

Roger Brown, Seplat Energy's CEO said the name change reflected the company’s belief that the greatest opportunity ahead was to supply the right mix of energy for Nigeria’s young and rapidly growing population.

The summit also examined how to tackle Africa’s electricity deficit against the background of the challenge of climate change with stakeholders at the summit agreeing that Nigeria, Africa’s largest economy, must play a crucial role in leading the continent’s energy transition as improving access to energy is essential to the country’s economic growth.

At the first panel session during the summit, Mike Sangster, the CEO of TotalEnergies Nigeria, raised concern about the capital cost of renewable energy which he claimed is much higher than the capital cost of traditional energy, although the recurrent cost of renewable energy is cheaper.

Sangster said: “Financing is one

of the major issues that need to be addressed’’, noting that most of Nigeria’s renewable energy projects needed power purchase agreements that are bankable. “Africa needs more energy which must be clean and net-zero fossils, not zero fossils,” Sangster said.

Group Managing Director of Nigerian Exchange Group (NGX), Oscar Onyema, at the panel session, said the country needs $400 billion to power 25 million homes within 30 years through renewable energy, an aspect of attaining zero carbon emission by 2050, adding that the funding can happen through the capital market.

On access to funding, he said N750 billion was raised for investments in 2020 through bonds, and this year, it is estimated to reach N1 trillion, as he urged private firms to embrace green bonds, noting that it is a global funding means towards capital for the energy transition period.

Citigroup’s Head of Investment Banking for the Middle East and Africa, Miguel Azevedo, said the gospel of renewable energy will force the development and creation of a democratised system for Nigeria's energy sector.

“It will allow for a change in the economic and business model of Nigeria’s energy sector,” Azevedo said.

The panel moderator and a former Vice President of the World Bank as well as Director-General of the Securities and Exchange Commission (SEC), Arunma Oteh, who is a Non-executive Director at Seplat, said energy transition remains a challenge for everyone and enjoined all to key into Seplat’s drive for clean energy.

She said there are global funding means including a N40 trillion energy access fund globally for countries driving climate change to leverage on.

Also speaking at the panel, the Executive Secretary of Nigerian Content Development Management Board (NCDMB), Engr. Simbi Wabote said attaining zero carbon emissions by 2050 requires capital investment, commitment, and capacity building.

However, to attain this in 30 years, Wabote said it would mean that 90 per cent of Nigeria’s electricity would have to come from renewable energy sources.

He noted that for oil to dominate coal for power generation, it took about 160 years in the past, adding that to attain a shift from oil to renewables in the next 30 years remains a huge task.

Seplat said investors are also buying into the prospects of the company as evidenced in the continued increase in the shares of the company with about 80 per cent positive returns this year, saying this could rise as Nigeria’s transition priorities present significant opportunities for the company to leverage.

“These prospects range from the development of gas-to-power initiatives, development of LPG markets to alleviate the use of biomass, and development of renewable energy to serve large areas of the country not currently served by the national grid,” it stated.

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NEWS

CELEBRATING WOMANHOOD...

L-R: Country Director, Pathfinder International, Dr. Amina Aminu Dorayi; Ambassador of the Republic of Poland, Joanna Tarnawska; Nigerian Director MSD for Mothers, Iyadunni Olubode; Deputy Managing Director Programmes Society for Family Health, Dr. Jennifer Anyanti; and Managing Director of Nigeria Health Watch Vivianne Ihekweazu, at the Nigeria Health Watch Celebrating Womanhood Art Gala in Abuja... recently

In New Calculations, S’West PDP Loses National Secretary to S’East How Makinde, Fayose’s rivalry bungled opportunity Northern caucus takes position on national chair today Southern govs, others decide sharing of offices Chuks Okocha in Abuja In new calculations prompting a twist of fate in the battle for the soul of the Peoples Democratic Party (PDP), the South West wing of the party, might have lost the office of the national secretary to the South East wing of the party.

This development is however believed to have been orchestrated by the rivalry and supremacy battle between the Oyo State Governor, Seyi Makinde and a former governor of Ekiti State, Ayodele Fayose.

In the same vein, the northern caucus of the PDP will today, Tuesday, October 12, 2021,decide on the option to embrace as far as the national chairmanship of the party is concernedahead of its October 31 national convention. The meeting is expected to either adopt a consensus national chairman or allow all the aspirants to face the over 6000 delegates at the National convention.

Similarly, the southern PDP governors are also expected to resolve where all the officesconceded to the zone like the National Secretary, the National Publicity Secretary, Woman Leader, National Financial Secretary and the National Auditor would go.

But in a realignment of forces, the office of national secretary has been zoned to South East, while the South West is left with that of the National Publicity Secretary.

This, THISDAY gathered, was due to a emerging consensus among the PDP governors.

Particularly, THISDAY gathered that the divisions within the South West accounted for why the office of the national secretary had to be moved to the Southeast.

Source told THISDAY that the development was not unconnected to the power struggle between Makinde, Fayose and Ladi Adebutu, making the southern caucus leaders to look towards the Southeast for the national secretary.

The office of the deputy national chairman has been zoned to Southsouth, where the Vice National Chairman, Dan Orbih, might be upgraded as the deputy national chairman.

The Southern PDP governors meeting is expected to hold today in Benin, Edo State.

Meanwhile, as a result of the stalemate of last Thursday and Friday meeting of the northern PDP caucus, it will reconvene in the Bauchi State Government Lodge, Abuja.

Though PDP northern caucus and their five governors were still pushing for a consensus national chairman, some interests are already selling a former senate president, David Mark, even though Mark had said repeatedly that he was not interested and would rather be the chairman of the party’s Board of Trustees.

Others within the north, who are interested in the national

chairmanship of the party are a former President of the Senate, Iyorchia Ayu; a former governor of Katsina State, Ibrahim Shema; a former governor of Kaduna State, Ahmed Makarfi; a former governor of Kogi State, Ibrahim Wada; a former governor of Gombe State, Ibrahim Dankwambo; a former Minister of Information, Jerry Gana and a former governor of Niger State, Aliyu Babangida.

A source claimed that if the PDP must get it right in the 2023, it needed an experience politician that could weld the party together, and lead it to electoral victory in 2023.

"If this consensus option fails, which I think it will not, then, the consensus option will be thrown open for all aspirants to contest, but I doubt, if it will get to that."

But while most of the North East and North West governors

have been avoiding a candidate emerging from their zone, because of their interest in the presidency, the battle is largely in the North Central, where Governor Samuel Ortom, believed to have colluded with his southern colleagues, to push the chairmanship to north for personal concerns.

Ortom is believed to be the brain behind the candidacy of Ayu and was alleged to have been selling him to others in the region.

Unfortunately, for him, other governors were said to have resolved to oppose whoever he backs for any position in the region, principally for aligning with the southern governors to zone the chairmanship to the north.

With these developments, however, and with each of the zones asked to present a candidate, more people appeared to be coming out for the chairmanship from the North

Central,because they were opposed to the Ayu candidacy.

From the North Central, it’s looking like Gana might eventually become the candidate. The belief is that since the earlier card being flown was that of Christians, Gana has beenprovided as the option.

From the zone, therefore, Benue might be where Ayu would have some support as his home state and because he was believed to have the support of Ortom.

Plateau, Niger and Nasarawa might also support Gana, while Kwara and Kogi were yet to decide as they were torn between supporting their son, Ibrahim Idris and Gana.

Key leaders from the zone like the BoT chair, Senator Walid Jubrin, Senator Jonah Jang, Gen. Jerry Useni and others felt they were not consulted before Ortom and others tried to impose Ayu from

the North Central.

Thus, the Wednesday meeting might see Shema as North West candidate, Dankwambo as North East and Gana as North Central candidate.

Although the National Organising Secretary, Col. Austin Akobundu, said in a statement that the purchase of forms for all categories of offices, would start Monday and both screening and appeal would come to an end by October 16.

As at press time, none of the aspirants was seen at the PDP National Secretariat to purchase the nomination forms, because the micro-zoning of offices was yet to be concluded and it was not clear yet the positions aspirants would seek.

But in the statement issued by the PDP, the sales of nomination and expression of interest forms for national officers would take

place from October 11 to Friday October 15 2021, while the last date for submission for already purchased forms, both nomination and expression form to be be submitted to Directorate of Organisation and Mobilisation for processing and onward submission to the screening committee on Saturday October16.

The statement further said that the screening of all aspirants for national officers was slated for Monday October 18, while screening appeals was slated for October 21.

This is expected to be followed with the publication of names of cleared aspirants on Monday October 23, and later, a meeting of the National Working Committee, where adoption of delegate lists and publications would done on Monday October 25.

The national convention would be Saturday October 30 and October 31.

IN BREAK WITH BUHARI, OSINBAJO WANTS NAIRA DEVALUED TO MARKET RATES ones, while also putting the economy on the path of sustainable growth.

Osinbajo stated, “The ESP tried to mitigate the shock of COVID-19, but also took the opportunity to try to tackle longstanding structural challenges, while repositioning the economy for the future.”

Osinbajo explained that following the global pandemic, "There were sharp declines in some key sectors: transportation sector declined by 49 per cent, hospitality sector fell 40 per cent, the education sector fell 24 per cent, real estate declined by 22 per cent, trade declined by 17 per cent, and construction declined by 40 per cent.

“But since the ESP implementation began, which was credited as a major reason why Nigeria exited recession faster than predicted, data showed that these sectors have rebounded to positive growth: "Transportation to 77 per cent, hospitality to two per cent, education to one per cent, real estate to four per cent, trade to 23 per cent and construction to four per cent."

The vice president further said, “In response (to the pandemic), the president took two actions. The first was to set up a small inter-ministerial committee headed by the Minister of Finance to quickly examine the implications of and the immediate mitigation steps that would be taken for the economic shocks we were experiencing. The second step, which Mr. President took, was to ask that we draw up a full Economic Sustainability Plan to provide at least a 12-month response to the fallout of the pandemic. And Mr. President asked me to chair the committee to draw up the plan and later to implement it.”

Adesina: $15bn Annual Investment Required to Bridge Infrastructure Gap

Meanwhile, in his paper, titled “Nigeria’s Economic Resurgence: Learning from the African Experience,”

Adesina identified infrastructure as critical for unlocking the full potential of the country’s economy. He called for priority attention to financial innovations, saying government alone cannot afford the huge financial cost.

The former Nigerian Minister of Agriculture proposed that the private sector should be given incentives in form of tax credits to encourage investment in infrastructure.

Adesina said, “To be sustainable and more efficient, Public-Private Partnerships (PPPs) should be accelerated to finance major infrastructure across Nigeria. Nigeria’s institutional investors, especially the pension funds, should invest in infrastructure.

“Governments can also implement ‘Infrastructure Asset Recycling models,’ where existing infrastructure assets on government books can be turned over to the private sector, freeing up financing for governments to invest in new infrastructure needs.”

He said sustainable financing approaches, such as PPPs and infrastructure asset recycling, would allow Nigeria to attract significant private sector investment into infrastructure.

Speaking on trade, the AfDB president stated that the Africa Continental Free Trade Area presented a major opportunity for Nigeria given that consumer and business expenditures in Africa are projected to rise to $6.7 trillion by 2030.

He said significant support should be directed toward boosting the country’s industrial manufacturing capacities, adding that Nigeria should also move rapidly to the top of selected value chains, such as automobiles, computers and electronics, textile and garments, and food manufacturing, transport, and logistics.

The former minister, however, admitted that much of the gains would depend on the ports in the country, where, according to the sector operators, the cost of exporting 100

tons of cargo in Nigeria is $35,000, compared to $4,000 in Ghana.

Adesina stated, “Today, the leading ports for West Africa are in Cote d’Ivoire, Ghana, Togo, and Benin Republic. All these countries have modernised their port management systems, leaving Nigeria far behind.

Nigeria can learn from Morocco’s world-class Tangier-Med port. The port is unique in that it is an industrial port complex, and a platform that has over 1,100 companies.

“They collectively exported over €8 billion worth of goods in 2020.

Companies located at the TangierMed port have allowed Morocco to move up the global value chains, including automobiles, automotive parts, aeronautics, agriculture and food manufacturing, textiles, and logistics. Annually, over 460,000 cars are manufactured in the zone for exports. And more interesting is that the bulk of the human resources to do these are Moroccans.

“I took a walk at the Tangier-Med Port. I actually thought they were on vacation, as I did not see people – just machines, haulers, automated systems moving containers in what looked like a well-synchronised maze, with incredible efficiency.

“There were no kilometres of trucks waiting to get to the port.

Your Excellency, we should not be decongesting the ports in Nigeria, we should be transforming the ports.

This must start with cleaning up administrative bottlenecks, most of which are unnecessary with multiple government agencies at the ports, high transaction costs or even plain extortions from illegal taxes, which do not go into the coffers of the government.

“Here is the lesson: Nigeria should rapidly modernise and transform its ports. Ports are not there for revenue generation. They are for facilitating business and exports, and stimulating industrial manufacturing, and competitiveness of local businesses

and exports.”

He also urged the federal government to relaunch the ‘Growth Enhancement Scheme’ and the e-wallet system by putting millions of farmers at the heart of agriculture.

According to him, there would be a dramatic turn-around in national food production if this is accorded immediate attention.

Using Sudan as a case study, he said AfDB helped the country to finance the revolution of wheat with heat tolerant varieties, by producing 65,000 metric tons of seed, which is equivalent to 660 Airbus 380 aircraft parked on a landing strip.

Adesina Sudan moved from 25 per cent self-sufficiency to 54 per cent in just two seasons, and it expected to become a net exporter of wheat within three years.

He said, ”We also supported Ethiopia to cultivate the heat tolerant varieties on over 184,000 hectares.

Interestingly, these same heat tolerant varieties were introduced to Nigeria when I was Minister of Agriculture and we worked hard to give them to farmers in the Lake Chad Basin.

“Your Excellency Mr. President, You may wish to know that during the insecurity in the area, my staff at the time, led by Dr. Oluwasina Olabanji, the then Executive Director of the Lake Chad Research Institute, and his team, stayed in the fields, protected the seeds being multiplied, and risked their lives.

“When insecurity became much more serious, they moved the varieties to Kadawa valley in Kano. Dr. Olabanji deserves a national award. I was on the farms in Kano with several Seriki Nomas or farmer heads.

“They could not believe that wheat could be as tall as they were! These varieties yield five tons per hectare compared to average yield of 1.5 tons per hectare – a 400 per cent increase!

Nigeria should take advantage of the work of the Bank on this and scale up cultivation of heat tolerant wheat

across northern Nigeria.”

He also said arising from COVID-19, Nigeria’s economy recorded a negative growth rate of 1.8 per cent in 2020, while the African continent posted a negative growth rate of 2.1 per cent growth rate, its lowest in two decades.

Adesina said AfDB, which launched a $10 billion Crisis Response Facility to support countries and provided $289 million in budget support to Nigeria, projected the country’s economic growth rate to rebound to 2.4 per cent this year and reach 2.9 per cent by 2022.

He said the recovery would depend on access to vaccines and tackling debt issues as Africa had only two per cent of its population vaccinated, compared to 54 per cent in the United States and 75 per cent in Europe.

Adesina assured that the AfDB would invest $3 billion in support of local pharmaceutical industries in Africa, including in Nigeria, while urging the federal government to decisively tackle its debt challenges.

He said, “The issue is not about debt-to-GDP ratio, as Nigeria’s debt-to-GDP ratio is still moderate.

“The big issue is how to service the debt and what that means for resources for domestic investments needed to spur faster economic growth. The debt service to revenue ratio of Nigeria is high at 73 per cent.

“Things will improve as oil prices recover, but the situation has revealed the vulnerability of Nigeria’s economy.

To have economic resurgence, we need to fix the structure of the economy and address some fundamentals.

“Nigeria’s challenge is revenue concentration, as the oil sector accounts for 75.4 per cent of export revenue and 50 per cent of all government revenue. What is needed for sustained growth and economic resurgence is to remove the structural bottlenecks that limit the productivity and the revenue earning potential of the huge non-oil sectors.”

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COMMENT

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

THE CHALLENGE OF MEDICAL BRAIN DRAIN The brain drain is a wake-up call to tackle the challenges of governance and development, writes Toluwani Oluwatola

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n the past few weeks, a lot of light has been beamed on the subject of “medical brain drain in Nigeria.” This is due to the recent strike by members of the National Association of Resident Doctors (NARD), which lasted more than two months. The issue was further exacerbated by the recruitment exercise for mid-career medical personnel carried by Saudi Arabia Health Authorities, which got wide media coverage.

Medical brain drain in Nigeria is not new; medical personnel has been on the lookout for “greener pastures” since the 1980s, when the country started experiencing economic downturns. However, it has assumed a worse trend today. In a 2017 survey conducted by NOI polls and Nigeria Health Watch, eight out of 10 Nigerian doctors expressed their desire to emigrate to another country. There have been social media reports of how some departments in certain teaching hospitals no longer have specialists as everyone, including the HOD, has sought greener pastures.

Medical brain drain is not all bad, but its net benefit in the Nigerian context is negative, coming at a huge cost to the country’s health system, which is ranked very low in the comity of nations. It also typifies a double jeopardy case as public medical education that produces more than 70% of Nigeria’s doctors is highly subsidized by the government, and its beneficiaries are lost to developed nations. On the flip side, while Nigeria continues to grapple with health system-related challenges due to medical brain drain, high-income countries that are beneficiaries of the drain continue to benefit from the influx of Nigerian-trained doctors to the country. A study published in 2011 showed that Nigeria had lost about $650 million to medical drain while four of the top destination countries have saved about $4.55 billion from brain drain in nine African countries. These figures have multiplied in recent times. The Punch newspapers recently reported that over 4,500 Nigerian-trained doctors have migrated to the UK between 2015 and July 2021; worse still, those on the waiting list exceed those who have successfully emigrated in large numbers. This trend portends grave consequences for Nigeria’s health system and should be addressed as a matter of urgency.

In lieu of the dangers this trend portends if unmitigated, I propose three solutions that policymakers can adopt to address the challenge of medical brain drain in Nigeria.

A Strong Political Will: The most important step in reversing the tide of the medical brain drain crisis is the political will to address the issue by policymakers across all levels. As it stands today, key government functionaries are still in denial of the magnitude of this crisis. It is important that key stakeholders come to terms with this reality of human capital flight in the health sector and human capital retention becomes a priority in governments’ plans across all levels in Nigeria. A strong political will would translate to formulating and implementing appropriate policies to tackle the brain drain challenge. However, if this will is absent, the country’s health system is headed to the brink of collapse.

Earmarking Brain Drain Tax/Restitution: At the core of Nigeria’s brain

IT TYPIFIES A DOUBLE JEOPARDY CASE AS PUBLIC MEDICAL EDUCATION THAT PRODUCES MORE THAN 70% OF NIGERIA’S DOCTORS IS HIGHLY SUBSIDISED BY THE GOVERNMENT, AND ITS BENEFICIARIES ARE LOST TO DEVELOPED NATIONS

drain crisis is a health financing crisis. According to the 2017 Nigeria Health Watch and NOI survey, the three most prevalent reasons doctors are seeking greener pastures abroad bothers around health financing.

Nigeria’s minister of state for health also emphasized this point recently when he stated that lack of funds is responsible for Nigeria’s health sector woes. A permanent solution to this crisis is an adequately financed health system. Increasing the fiscal space for health has been very challenging for the nation, which has been worsened by the current macroeconomic challenges in the country. To plug the health financing deficits in the nation, innovative financing approaches need to be adopted.

One of such approaches might include diplomatic relations with the recipient countries to get “restitution fund” based on the value of the contributions of Nigeria-trained migrants to the recipient nation’s health system. Another approach could be through a brain drain tax (a proportion of the income of migrants) which is implemented through a tax treaty with recipient nations to prevent incidences of double taxation and worsening fortunes for the migrants. These funds should be earmarked for investment in health and medical education not channeled through the general government budgets. One key factor that will be crucial to the success of either of these approaches is designing responsible and effective usage of such funds for the strengthening of the nation’s health system to create a health system that is more accommodating in the long run. These approaches are not as straightforward as they sound, they will require policymakers to think through its pragmatism in our local context and the diplomatic relations that is required with benefiting countries to be successful.

Private Sector Participation: Private sector investment in the Nigerian health sector will also help to provide a long-term solution to the brain drain challenge. The country’s private healthcare sector has recently witnessed an influx of government support and foreign direct investment to develop world-class healthcare facilities. The development of world-class infrastructure within the country will help create an enabling environment that will attract more medical personnel to practice in the country. However, this needs to be complemented with an adequate compensation package for healthcare workers in these facilities, a career development pathway, and professional development opportunities to make them reach the pinnacle of their careers.

On a final note, it is important to note that the development of the country’s health sector, which is the ultimate solution to the brain drain challenge, will not occur in isolation. It will require the development of other sectors of the economy. Therefore, the medical brain drain challenge is a wake-up call to leaders across all levels to tackle the challenges of governance and development affecting the nation. Tackling the brain-drain challenge is more important now than ever to prevent a complete breakdown of the nation’s healthcare system.

Oluwatola can be reached at: toluwanioluwatola@gmail.com

WHAT MANNER OF EXAMINATION BAN?

Michael Omoregbee argues that it makes no sense banning students from writing external exams

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n the 24th of September, 2021, news of the instruction by the Federal Ministry of Education preventing students in unity schools in Nigeria from writing “external examinations such as NABTEB (NTC and NBC), WASSCE, NECO (SSCE) by SS1 and SS2 students” hit major national dailies.

According to a letter signed by Hajia Binta Abdulkadir and confirmed by the Director of Press and Public Relations, Ben Bem Goong, “Students who are involved in the practice find it difficult to settle down on serious studies. They become unruly and distract other students from achieving their goals.” The letter further warns, “Any student caught to have written any of the above examinations in SS1 or SS2 classes will be expelled from the college. All students must write these examinations after they have been duly registered for the examination by the college.”

As usual, this directive, which the Ministry instructed the heads of unity schools to bring to the attention of staff, parents and students, has been met with divergent responses from citizens. I will reserve my opinion about the practicability of the directive for the second half of this write up. There is an ambiguity the letter introduces that I feel requires clarification.

Examining bodies in Nigeria usually have two to three streams of exams yearly. WAEC, the regional SSCE conducting body, as well as NECO, has what is called the PCE. That stands for Private Candidates Examination. Pre-COVID pandemic era, that exam used to hold between September and November.

Its Nigerianese nomenclature is “GCE” and it usually plays host to both adult seekers who want to upgrade their certificates for promotions on the one hand and young candidates who wanted a sneak peek into the examination from an earlier class of SS1 or SS2. This is an external examination. Take note. It is the external exam.

The WASSCE, acronym for West African Senior School Certificate Examination, is conducted by the

West African Examination Council as a more or less internal examination for which candidates who have done three years of senior secondary education in Nigerian schools are registered. Technically, schools present their students to be examined by WAEC and NECO for the issuance of the West African School Certificate. This, therefore, is technically an INTERNAL exam conducted by WAEC in collaboration with ministries of education with public and private secondary schools playing host.

The ambiguity in the directive from the Federal Ministry of Education is whether the ban imposed targets the private candidates’ examination which can be taken by anybody and is usually written in public primary schools or it targets the internal examination conducted by the external bodies which must be taken under a registered secondary school approved by WAEC. Is the Ministry saying that Nigerian students in SS1 or 2 who choose to attempt the EXTERNAL examination from the comfort of their parents’ homes, as a failsafe mechanism or preparatory to their own internal exams to be taken a year or two later in unity schools are debarred from doing so? Is this the directive? Is a parent now prevented from registering his child for the external exams, even during holidays? In unity schools that are day, is the government saying my child cannot skip school days to take an external examination, if that’s what the home wants?

The mid part of the directive suggests that the worry of the Ministry is that kids in unity schools are being enrolled in private and public schools for the INTERNAL exams and some seem to be getting results that could make their continued schooling unnecessary at the secondary level. As the letter laments, it would seem that kids who have taken the internal exams “externally” (meaning, they’ve been presented for the exams by other schools apart from the unity schools) are unruly in class, arrogant towards their teachers and becoming a very negative influence on those who did not take the exams and whose hopes are the internal exams for which the

schools would present them in the next one or two years.

To be sure, these worries by the Ministry are both germane and realistic. My little worry is that the Ministry’s response is probably belated.

The timing of the response reflects the perpetual sluggish response of the Nigerian state to critical derailments in the evolution of critical sectors. It is one more indication that the behemoth called the Federal Ministry of Education is incapable of feeling the pulse of the Nigerian educational outlay until, paralysed by a bad case of atherosclerosis, the pulse peters down to silence.

What doesn’t drain in this country? Brain-drain, life-drain and now candidates-drain. While I do not find anything wrong with a home registering their child for an external exam preparatory for their internal exam, I find it amusing that this irks the Federal Ministry to the point of issuing such a directive. I find it amusing that the students would be expelled from school for taking an external examination. And I ask myself, “What does the child really lose by being expelled?” No university admits with a testimonial, remember. You don’t need a post-primary testimonial to gain admission into a university in Nigeria. Truth is, you don’t even need a post-primary school attendance.

According to the educational system which the same Ministry set in motion, schooling actually ends formally at the Basic 9 level which is JSS3.

From then, whether you acquired your certificate and passed the UTME from your kitchen is totally irrelevant. There is no certificate value in attending and completing a unity school programme at the senior level. It may provide an environment for mentorship, a place for gaining vital relationship experience that could serve the students when they attend higher institutions. Parents may draw some social value or bragging rights from the spectacle of attending their wards’ graduation from unity schools. It ends there. The university doesn’t ask for the school that gave you your five credit passes.

They just need to see the passes. A credit pass from

a unity school has no more weight than a credit pass from any secondary school in Nigeria, including one from a PCE organised by WAEC or NECO. If the Federal Ministry understands where education is headed in the nation and globally, they would be far less concerned about this belated response. The response is belated because, as late as 1994 when I forayed into remedial education in Benin City, writing the WAEC external examination from SS1 and 2 was already a given! That would be 30 years ago in three years! Today, kids hardly settle into SS1 before connecting with a school that would gladly accept them to take the internal WAEC exam “externally”. The number of those interested in the PCE conducted by WAEC and NECO has been declining steadily since then. The attraction is for the internal, for obvious reasons. Many centres are active in exam fraud and the spin of financial gains for exam supervisors, ministry officials and schools is smoother with the internal exams.

The Federal Ministry should have more concern about the malpractice in these examinations which fuels the current craze for writing certificate exams before the three years of senior school have elapsed.

That, I believe, is a more productive engagement than threatening to expel those who may genuinely have attempted the private candidates examination as part of preparing for the final examination. With universities in the nation legally accepting certificates from PCE conducted by both WAEC and NECO, it crosses the line of parents’ fundamental rights and probably disenfranchises well-intentioned citizens from seeking the best educational pathways for their wards.

Questions would be, “Is there a guarantee that if my ward waited and took the internal certificate examination for which the unity school presented him, the result would be good enough for him to gain admission into the university? If such guarantees don’t exist (and we know they don’t) should my ward be prevented from seeking help elsewhere?

Omoregbee, educationist, actor and public affairs commentator, wrote from Benin City

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EDITORIAL CONTAINING INCREASING CASES OF JUNGLE JUSTICE The authorities must do more to stem the menace

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n Sokoto State, mob justice is fast becoming a pastime as people regularly take the law into their hands. According to reports, more than 190 people have been murdered extra-judicially in the past two years. Last week, criminals wielding locally fabricated guns stormed a market and killed an Imam and 10 others at Mamande village in Gwadabawa local government area of the state. Said to be members of an outlawed vigilance group, the gunmen accused the victims, who are all Fulanis, of involvement in banditry. Less than a month earlier in Tangaza, also in Sokoto, some angry mob sacked a police headquarters and lynched 13 bandits after which they set their bodies ablaze.

However, mob justice is by no means restricted to Sokoto State or the Northwest of the country. It is a national epidemic. Across the country, many Nigerians are increasingly taking the law into their hands and delivering “instant” and brutal justice to many Nigerians without recourse to the law. Indeed, according to the Daily Trust THE POLICE AND newspaper’s recent THE COURTS MUST report, virtually all COLLABORATE TO ENSURE the states in the six geopolitical regions of THAT CRIME SUSPECTS ARE GIVEN SPEEDY TRIALS the country are deeply implicated, viz: SouthAT THE END OF WHICH South, 46; NorthTHOSE FOUND GUILTY West, 38; South-West MUST BE PUNISHED 35; South-East 26; ACCORDING TO THE LAW North-Central, 22; and North-East 13.

Victims of mob justice are often accused on mere suspicion of offenses ranging from kidnapping, banditry, armed robbery to rape or witchcraft and lynched without given a chance to defend themselves. Even more odious, some of these brutal killings were filmed and circulated on the social media. Not long ago, no fewer than four suspected kidnappers who allegedly feigned insanity were killed in mob attacks in Ilorin, Kwara State. In all the cases,

Letters to the Editor

the hapless victims were beaten to coma before being burnt alive.

Most worrying about this recourse to mob justice is that a lot of times, innocent citizens are often the victims. The brutal murder of four innocent undergraduates of the University of Port Harcourt in 2012, for instance, was a case in point. Five years after the incident, the court pronounced their innocence while four of the identified murderers were sentenced to death.

T T H I S DAY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

T H I S DAY 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, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGED ENGBE 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

he spike in cases of jungle justice raises some pertinent questions: Why are more people resorting to mob justice? Why is the public becoming increasingly impatient in following the dictates of the law? Are many losing confidence in law enforcement agencies or are these signs of a more dangerous national ailment? Is human life no longer sacrosanct in Nigeria?

The answer of course is simple. It is a combination of all. There is some form of jungle justice in many societies, but what is troubling here is that the propensity for dispensing this brand of justice is becoming increasingly high. The rule of law, as opposed to that of the jungle, presupposes that anybody accused of a crime, however heinous, is entitled to a fair trial before punishment could be meted if found guilty. But as more and more Nigerians shun the instrumentality of the law in the settlement of disputes, many innocent people are getting maimed and killed.

We therefore believe that the government should crack down on the perpetrators of such acts to ensure that only the courts can give a guilty verdict and stipulate the commensurate punishment. Having said this, we are also mindful that many criminals get away unpunished and that, in most instances, provoke the mob. Some criminal trials go on almost indefinitely.

To redress the situation, the police and the courts must collaborate to ensure that crime suspects are given speedy trials at the end of which those found guilty must be punished according to the law. That is the only way to end the barbaric regime of jungle justice.

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 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 (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

IPOB STRANGLEHOLD ON THE SOUTHEAST

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or more than two years, from the comfort of exile, Mr Nnamdi Kanu, the leader of the Indigenous People of Biafra, rattled the Nigerian government.

Whether it was pointedly aimed potshots or carefully coordinated attacks on public facilities, each time Mr. Nnamdi Kanu yawned, the Nigerian government felt itself hurtling down a yawning gulf.

Given that he had escaped from the country while standing trial, Mr. Kanu`s status as a fugitive from justice bent on exposing the many atrocities of the government was a tremendously bitter pill for the government to swallow.

It was the misgivings of the Nigerian government over the size of the thorn Nnamdi Kanu had become that dragged the social media platform Twitter into the fray. When Twitter censored Mr. Muhammadu Buhari for comments it deemed contrary to its policy, the president accused Twitter of double standards for condoning far more incendiary statements from Mr. Nnamdi Kanu, and subsequently suspended its operations in the country.

Then Mr. Nnamdi Kanu was arrested in Kenya with no little glee of triumph and brought back to Nigeria to continue his trial. The subtlety and smoothness of the operation caught even his staunchest supporters cold.

With their principal back in custody and staring down the depressing barrel of Nigeria`s ponderous judicial process, the IPOB was initially too stunned to react. It has since rallied around and appointed someone to temporarily take Mr. Kanu`s place. However, it has proved forbiddingly tough to replace the aggression of the

man who holds the citizenship of both Nigeria and Britain.

Forced to lick its wounds, it appears the IPOB is determined to take out its frustrations on someone, anyone. As usual, the softest targets have been chosen and under the bootheels of IPOB`s mounting cruelty, the long-suffering people of the south-east groan.

It is not just the pointless sit-at-home orders that cripple the businesses of men and women who must trade to feed their hungry children every day, especially on the first working day of the week - it is the needless deaths of innocent people; it is the folly that fuels the razing of public buildings including police stations and INEC offices; it is the pervasive insecurity that reminds older Igbos of the nightmarish uncertainty of the Nigerian Civil War. The mounting brutality and cruelty of the IPOB in the southeast raises poignant questions about the group and its aims in the long run. Is it by burying its poisonous fangs in the necks of its own people that it hopes to draw the blood that will be used to appease the angry gods of the south-east? Is it by drawing its lash of scorpions against its own people that it hopes to whip dramatically malfunctioning and diametrically opposed Nigerian interests into shape? Is it by crippling the businesses of its own people that it hopes to force a deaf Nigerian government to dialogue?

As the Nigerian Civil War screeched to noisy halt in January 1970, the Igbos were left with practically nothing but their entrepreneurial spirit. The Nigerian government had been devilishly deliberate in its calculations. Properties belonging to the Igbos were taken over in Port Harcourt under the auspices of one of the most obnoxious laws ever made in Nigeria. Money belonging to

the Igbos in banks was confiscated. Yet, it was from those ashes, thickened by malice, that the Igbo phoenix was to rise. It remains an extraordinary story albeit one that stands in danger of being corrupted by the overzealousness of the IPOB. Before they continue to slaughter the innocent and burn down buildings in the south-east, the IPOB`s army of do-nothing thugs and urchins must open the books of history and read. If they can.

If they do, they will find that the Igbos did not claw their way out of the doldrums, debris and despond of the Nigerian Civil War by recklessness and indiscretion. If they do, they will discover that the enterprising Igbo spirit which underpins the remarkable strides Igbos have made in entrepreneurship has always abhorred any Kafkaesque approach. They will discover that the harum- scarum approach to issues that they so strongly favour is starkly alien to the prudent Igbo spirit.

Where was the IPOB intelligence when their leader was so easily picked up in Kenya? What was he doing in Kenya in the first place, away from the safety of the UK? Does an Igbo adage not adjure that a man surrounded by enemies should do his best to guard his life?

If the IPOB thinks that by turning the southeast into a theatre of war and a bath of blood, it will take a step closer to its goals, it is sadly mistaken. The iron fist it is crashing into the south-east will only succeed in alienating the people it is supposedly working to emancipate from the suffocating shackles of the Nigerian government.

Kene Obiezu, Abuja

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POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com (08114495324 SMS ONLY)

Why Buhari Should Listen to Niger Delta Elders, Obey the Law and Inaugurate NDDC Board The authentic and true representatives of the Niger Delta people such as Pan Niger Delta Forum, Ijaw National Congress, Urhobo Progressive Union, Ijaw Youth Council, Traditional Rulers of Oil Mineral Producing Communities, amongst others, have been consistent in their unceasing calls on President Buhari in the past two years, to abide by the law establishing the Niger Delta Development Commission (NDDC) and inaugurate the governing Board of the Commission, writes Nseobong Okon-Ekong

Buhari

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n October 4, 2021 the Southsouth Governors Forum spoke again when they rose from an emergency meeting in Port Harcourt, Rivers state capital and joined in the call on President Buhari to comply with the law setting up NDDC and inaugurate the Board of the Commission which has, sadly, been arbitrarily run in the past two years by the illegal contraptions of interim management committees/sole administrator.

With the widespread rejection of the illegal contraptions of interim management/sole administrator at NDDC by well-meaning stakeholders reaching a crescendo, any further delay by the Federal Government to inaugurate the NDDC Board could trigger more avoidable disruptive agitations, reminiscent of the 2016 crisis, by a people who may have been waiting for momentum from their leaders.

When, for the umpteenth time this year, the South-south Governors of the Niger Delta region spoke again, and urged President Muhammadu Buhari “to uphold the law establishing Niger Delta Development Commission (NDDC) by appropriately constituting its governing board,” it remarkably showed their frustration with the Federal Government which has turned a deaf ear to the lawful demands of critical stakeholders and the people of the region.

Speaking after their meeting in Government House, Port Harcourt, Rivers state capital on Monday, October 4, 2021, the Chairman of the South-south Governors forum, Governor Ifeanyi Okowa of Delta State was reiterating the demands that the South-south Governors had made, on behalf of the people, in March and April of this year on the vexed issue of abiding by the NDDC Act, and inaugurating a Governing Board for the Commission to guarantee effective representation of the Niger Delta constituent states.

Earlier in the year, the Governors of the South-south states, speaking the minds of the agitated and deprived people of the oil-rich Niger Delta region had stated clearly that the current Sole Administrator/ interim contraptions in NDDC does not comply with the NDDC Act which requires representation of the constituent states.

The South-south governors who have consistently decried the running of

Lawan

Okowa

NDDC contrary to the enabling law setting up the Commission had also pointed out that it does not augur well for the people of the Niger Delta as opportunity for all states to be represented as they ought to be represented in the board of the NDDC does not exist.

Again in April, speaking on behalf of the South-south Governors’ Forum in his capacity as its Chairman, Governor Ifeanyi Okowa of Delta State stated unequivocally that “the governors of the South-south region are totally embarrassed that after several months the Federal Government has not been able to constitute the board of the NDDC. As governors we have spoken. What is going on at the moment is not the best for our region, it is not the best for the oil producing states.”

Accompanied by Akwa Ibom State Governor, Udom Emmanuel, Governor Okowa who spoke to newsmen at Oleh, Isoko South Local Government Area stated that “in the first instance, you have Sole Administrator that is unknown to law. When we have a full board, the full board has representation from each state and people are able to speak for their states and ensure that there is justice and equity in the distribution of amenities and facilities.”

Continuing, he said, “I think the time has come for the presidency to listen to the South-South governors and all of us from the oil producing

states to please quickly inaugurate the board because we are suffering from it. We believe that as at today, the funds of that agency is not being managed equitably and it is not being managed in such a way that we can truly say that are accountable.”

Restating the restiveness now pervading the entire Niger Delta region due to the ongoing illegality at NDDC, Governor Okowa, on behalf of the South-south Governors’ Forum had warned that “we are currently being fooled; we are not happy about it and when our people do agitate, we believe that they are doing so in the right direction.”

The restiveness in the Niger Delta region was re-echoed by the Deputy Governor of Delta State, Barrister Kingsley Otuaro in June this year, when he represented the Governor to receive the Minister of Niger Delta Affairs, Senator Godswill Akpabio, in Delta state, and equally accompanied the Minister to the creeks of Gbaramatu Kingdom for consultative meetings with exwarlord, Government Ekpemupolo (alias Tompolo) traditional rulers, and other stakeholders including the leadership of the Ijaw National Congress (INC), following threats

by Tompolo and other militants to disrupt oil production activities in the Niger Delta region, to press home their demand for the inauguration of the Board of NDDC. The Deputy Governor of Delta

Curiously, whereas the North East Development Commission (NEDC) has been allowed to function with its duly constituted Board in place in line with its NEDC Act thereby ensuring proper corporate governance, accountability, checks and balances and fair representation of its constituent states, the NDDC on the other hand has been run arbitrarily in the last two years by Interim committees/sole administrator in breach of the NDDC Act even after President Buhari had appointed a Board for the NDDC which was duly confirmed by the Nigerian Senate on November 5, 2019, but was asked to be on standby for inauguration after the forensic audit

Emmanuel

State reminded Senator Akpabio of the urgent need to ensure that a Governing Board for NDDC was put in place to forestall a re-occurence of the crisis that rocked the Niger Delta region in 2016.

In a string of attacks in the first half of 2016, members of the militant group, the Niger Delta Avengers shut down all Chevron’s onshore activities. These attacks pushed the country’s oil output to its lowest level in decades reducing the number of barrels produced per day from 2.2m to 1.4m as well as hitting the nation’s economy, which led to a full-blown crisis as the economy slipped into a recession that year.

Senator Akpabio, as was widely reported in the media promised to ensure that the Board came on stream before the end of June this year. That promise which was postponed to end of July to enable the conclusion of the Commission’s forensic audit, after which the Board will be inaugurated still has not been fulfilled more than one month after the Minister of Niger Delta Affairs submitted the forensic audit report to President Buhari through the Attorney General of the Federation, Abubakar Malami, on September 2, 2021. Little wonder that the tension in the region has reached fever pitch.

Recall also that other critical stakeholders such as the umbrella body of the Ijaw nation, worldwide, Ijaw National Congress (INC) recently also cautioned in a statement issued on September 10, 2021 that “any further delay in the inauguration of the NDDC board is a clear betrayal of trust and display of state insensitivity on ljaw nation and Niger Delta region.” This followed the promise of President Buhari on the 24th day of June 2021, while receiving the Ijaw National Congress at the State House in Abuja that the NDDC Board would be inaugurated as soon as the forensic audit report is submitted and accepted.

The President said: ‘‘Based on the mismanagement that had previously bedeviled the NDDC, a forensic audit was set up and the result is expected by the end of July, 2021. I want to assure you that as soon as the forensic audit report is submitted and accepted, the NDDC Board will be inaugurated.”

The report of the forensic audit of NDDC was submitted by Minister of Continued on page 19

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T H I S D AY ˾ TUESDAY OCTOBER 12, 2021

POLITICS

Now that Tinubu Is Back Vanessa Obioha suggests that the National Leader of the All Progressives Congress who returned to Nigeria from a three-month sick leave in London may be pressurised to declare his interest in the 2023 presidential race publicly

Osinbajo

T

he return of the National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu last Friday will amplify the campaign for his presidency. Although the political stalwart is yet to publicly declare his intention to join the 2023 presidential race, his supporters have already gone ahead of him to prepare his way like the Biblical prophet John the Baptist, who preceeded Jesus Christ.

One of the leading notable groups that took the responsibility to rally for support for Tinubu’s presidency is South-West Agenda 2023 (SWAGA ‘23). Headed by Senator Adedayo Adeyeye, the group made up of politicians started their campaign vigorously and has established a presence in most South-western states like Ondo, Osun and Ogun.

Interestingly, one day before the arrival of Tinubu into the country, Governor of Lagos State, Babajide Sanwo-Olu showed public support for the group. At the occasion, Sanwo-Olu announced that the group was being formally launched in the state and openly backed the group’s push to have Tinubu as the right candidate for the 2023 presidential election.

“The SWAGA we are launching in Lagos today is a demonstration of Tinubu’s enduring political principles and strong vision…those behind the movement took the three values and pushed them with passion. What we are witnessing today is the action from the vision and passion; this is what SWAGA represents.

“By the grace of God, we will drive this agenda to a logical end and we will all witness the inauguration of our political icon come 2023,” said Sanwo-Olu. Another group which is aimed at garnering support for Tinubu for his 2023 presidency is Nigeria Diaspora for A íwájú (NDA). The group, jubilant over the successful return of Tinubu to the country after a three-month stay in London where he underwent knee surgery, expressed confidence that the politician is the

Fayemi

right man to take the reins from President Muhammadu Buhari.

The support for Tinubu’s 2020 candidacy is not limited to the South-west. In the north, both youths and political leaders are backing the politician. Northern political leaders in the National House of Assembly were among those who paid a visit to him in London. They included the Majority Leader, Alhassan Ado-Doguwa; Chairman, House Committee on Rules and Business, Abubakar Fulata; and Chairman, House Committee on the Army, Abdulrazak Namdas.

According to reports, a lawmaker who spoke under anonymity said that the North House of Representatives caucus is endorsing Tinubu because he is aspiring.

One of the viral videos from that visit showed a lawmaker representing Guevara/Suleja/Tafa Federal Constituency in Niger State, Lado Suleja, calling Tinubu “Mr President.”

It was widely speculated that the number of politicians who thronged London to visit the former governor of Lagos State did so to secure his blessings should he emerge as the next president of Nigeria. Some of the leaders who visited Tinubu included President Buhari, Speaker, House of Representatives, Femi Gbajabiamila; Governors Abdullahi Ganduje (Kano), Dapo Abiodun (Ogun), Babajide Sanwo-Olu (Lagos), Rotimi Akeredolu (Ondo), and Kayode Fayemi (Ekiti).

Tinubu’s credibility, as advertised by the different groups, can be linked to his political shrewdness. It is no secret that he was instrumental to the emergence of Buhari as the fourth democratic president in the new dispensation. Having merged the Action Congress of Nigeria (ACN) party with Buhari’s Congress for Progres-

Tinubu

sive Change (CPC) and other parties, delivered the presidential seat to Buhari.

In the South-west, Tinubu’s political power is not in doubt, but, it is at the same time, challenged. In Lagos State, for instance, where his influence is overwhelming, a group known as Lagos4Lagos is challenging his authority in the affairs of the state. The group, led by Olajide Adediran is poised to wrestle Lagos state from Tinubu’s grasp by allowing the people to choose their rightful leader.

Tinubu’s emergence as APC 2023 presidential candidate however will be hinged on the party’s decision on zoning. In the past couple of months, agitations have been rife on which region should produce the next president. While the north desires to retain the number one position in the country, the south is vehemently kicking against it. Their rejection was visibly seen when the Southern Governors Forum unitedly proclaimed that the next president should be from the south in their meeting last July in Lagos.

“The Forum reiterates its commitment to the politics of equity, fairness and unanimously agrees that the presidency of Nigeria be rotated between Southern and Northern Nigeria and resolved that the next president of Nigeria should emerge from the Southern Region,” said Ondo State Governor, Rotimi Akeredolu at the end of the meeting.

Should the ruling party decide to keep the presidency in the northern region, then the question would become what will beTinubu’s fate? Will he set up another party to pursue his political ambitions or join the People’s Democratic Party (PDP) who a few believe may likely present a candidate from the south for the 2023 presidency!

Tinubu may be the name on many lips but it doesn’t rule out the other candidates from the south eyeing the presidential seat. A formidable name that has sprung up is the incumbent Vice-President Yemi Osinbajo.

Like Tinubu, Osinbajo has not made any public pronouncement about running for the presidency in 2023, yet his foot soldiers have been rallying support for him in different parts of the country. Last May, a flurry of campaign promotional for the VP flooded the internet and was repeated in August, such that the VP’s office released a statement debunking the campaign.

“There has again been a flurry of activities, such as the release of campaign-style promotional videos, banners in the social media and even the deployment of political posters in some parts of the country, including the FCT and Kano, insinuating that the vice president, Prof. Yemi Osinbajo, SAN, has joined the 2023 presidential race.

“The office of the Vice President wishes to reiterate a statement on the same subject, made earlier in May this year. The office of the vice president is not in any way connected with the distribution and deployment of any 2023 political posters whether on the streets or in online videos, banners and the like on social media. All these are simply needless distractions from the urgent tasks of governance needed in our country at this time.”

Osinbajo may not have the political clout or influence that Tinubu has but his professionalism is indubitable. The professor showed his knowledge of economics and politics during the first term of the present administration.

Though his hue is not as luminous as it was before, it is believed that if given the reins, he will shine brightly.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Why Buhari Should Listen to Niger Delta Elders, Obey the Law and Inaugurate NDDC Board Niger Delta Affairs, Senator Godswill Akpabio, to President Buhari since September 2, 2021. More than one month after submission of the forensic audit report, there is increasing tension in the Niger Delta region over the delay in inaugurating members of the board of the Commission.

Already, across the length and breadth of the Niger Delta region there are unending calls, demands and peaceful agitations of youths, men and women, political and traditional leaders and civil society organisations that the inauguration of the board of NDDC will promote and sustain peace, equity and fairness, transparency and accountability, good governance and rapid development and transformation of the Niger Delta Region, and douse the tension of militancy as well as curtail the menace of insecurity in the region.

Curiously, whereas the North East

Development Commission (NEDC) has been allowed to function with its duly constituted Board in place in line with its NEDC Act thereby ensuring proper Corporate Governance, accountability, checks and balances and fair representation of its Constituent states, the NDDC on the other hand has been run arbitrarily in the last 2 years by Interim committees/sole administrator in breach of the NDDC Act even after President Buhari had appointed a Board for the NDDC which was duly confirmed by the Nigerian Senate on November 5, 2019, but was asked to be on standby for inauguration after the forensic audit.

It is important to recall that President Muhammadu Buhari had in exercise of his constitutional powers forwarded to the Senate for confirmation, the appointment of a

16 – member board of the Niger Delta Development Commission (NDDC) via a letter dated 18th October, 2019, personally signed by him.

The President’s letter read: “In accordance with the provision of Section 2(2)(a) of the Niger Delta Development Commission (NDDC) (Establishment) Act, 2000, I write to forward, for confirmation by the Senate of the Federal Republic of Nigeria, the under listed nominees for appointment into the NDDC board, to occupy the positions indicated against their names.” President Buhari, in the letter, expressed hope that “the Senate will consider and confirm the nominees in the usual expeditious manner”.

Accordingly, the written request, which was read on the floor of the Senate on Tuesday, October 22, 2019 by its President, Dr Ahmad Lawan,

was given expeditious consideration by the upper legislative chamber, which directed its Standing Committee on Niger Delta, to screen all the nominees and report back within a week. The Senate screened and confirmed the appointments of 15 out of the 16 nominees on Tuesday, November 5, 2019, based on the report tabled before it by the Committee on Niger Delta. The inauguration of that Board has been put on hold for two years.

Now that the forensic audit report has been submitted to President Muhammadu Buhari since September 2, 2021, the President should do well to heed the call of the South-south Governors’ Forum and other stakeholders, comply with the law setting up NDDC, and also fulfill his own promise of June 24, 2021, and inaugurate the board to manage the commission for the benefit of the people of nine Niger Delta states.

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TUESDAY OCTOBER 12, 2021 • T H I S D AY

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TUESDAY, OCTOBER 12, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

US, UK Warn Citizens to Avoid Afghanistan Hotels On Monday, the United States and Britain warned their citizens to avoid hotels in Afghanistan, days after dozens were killed at a mosque in an attack claimed by the Islamic State group active in Afghanistan, Islamic State Khorasan, the VOA reports.

The Taliban, which seized power in August and declared an Islamic emirate, are seeking international recognition and assistance to avoid a humanitarian disaster and ease Afghanistan’s economic crisis.

But, as the hard-line Islamist group transitions from a rebel army to a governing power, they are struggling to contain the threat from the Afghanistan chapter of IS. “US citizens who are at or near the Serena Hotel should leave immediately,” the US State Department said, citing “security threats” in the area.

“In light of the increased risks, you are advised not to stay in hotels, particularly in Kabul (such as the Serena Hotel),” Britain’s Foreign, Commonwealth and Development Office added.

Since the Taliban takeover, many foreigners have left Afghanistan, but some journalists and aid workers remain in the capital.

The well-known Serena, a luxury hotel popular with business travellers and foreign guests, has twice been the target of attacks by the Taliban.

In 2014, gunmen killed nine people, including an AFP journalist and members of his family.

In 2008, a suicide bombing left six dead.

Thousands Protest in Poland Amid EU Exit Fears Poles backing EU membership have taken part in protests across the country amid fears it could leave the bloc.

The rallies on Sunday were held in response to a top court ruling that said key EU laws were “incompatible” with the Polish constitution, reports BBC. Protests were held in about 100 towns and cities, with some 100,000 people gathering in Warsaw.

The ruling has raised concerns Poland could exit the EU, but the government has denied having any such intention.

Last Thursday, the court’s decision effectively rejected the core principle that EU law has primacy over national legislation. It was the

most significant challenge to the supremacy of EU law to date.

Poland’s Prime Minister, Mateusz Morawiecki, has defended the decision and said his ruling party had no plans for what some are calling Polexit.

“This is a harmful myth, which the opposition uses for its own lack of ideas about Poland’s responsible place in Europe,” Mr Morawiecki wrote on Facebook following the pro-EU rallies.

Madagascar Prays for Rain as UN Warns of ‘Climate Change Famine’ Some days, all Tsimamorekm Aly eats is sugary water. He’s happy if there’s a handful of rice. But with six young kids and a wife to support, he often goes without.

This is the fourth year that drought has devastated Aly’s home in southern Madagascar.

“In previous years, there was rain, a lot of rain. I grew sweet potatoes, and I had a lot of money... I even got married because I was rich,” said Aly, 44.

“Things have changed,” he said, standing on an expanse of ochre dirt where the only green to be seen is tall, spiky cacti.

Climate change is battering the Indian Ocean island, and several UN agencies have warned in the past few months of a “climate change famine” here.

Rainfall patterns in Madagascar are growing more erratic — they’ve been below average for nearly six years, said researchers at the University of California at Santa Barbara.

The Intergovernmental Panel on Climate Change says that temperatures in southern Africa are rising at double the global rate.

India, China Talks over Border Tensions Fail Talks between Indian and Chinese army commanders to disengage troops from key friction areas along their border have ended in a stalemate and failed to ease a 17-month standoff that has sometimes led to deadly clashes, the two sides said Monday, says VOA. The continuing standoff means the two nations will keep troops in the forward areas of Ladakh for a second consecutive

winter in dangerously freezing temperatures.

India’s defence ministry, in a statement, said it gave “constructive suggestions”, but the Chinese side was “not agreeable” and “could not provide any forwardlooking proposals.” A statement from a Chinese military spokesperson said “the Indian side sticks to unreasonable and unrealistic demands, adding difficulties to the negotiations.”

The commanders from both armies met for the talks Sunday after a gap of two months at Moldo on the Chinese side in the Ladakh area.

Since February, both India and China have withdrawn troops from some faceoff sites on the northern and southern banks of Pangong Tso, Gogra and Galwan Valley, but they continue to maintain extra troops as part of a multi-tier deployment.

Troops have been added at Demchok and Depsang Plains, Indian media reports say.

Sunday’s talks came amid frustration expressed by the Indian army chief at what he called the massive deployment of troops and weaponry by the Chinese side.

Iraq: Islamic State Top Leader Arrested Iraq said on Monday it detained a top leader of the Islamic State group and a longtime Al-Qaeda operative in a crossborder operation.

Iraqi Prime Minister Mustafa al-Kadhimi tweeted the news, identifying the man as Sami Jassem, who oversees the Islamic State group’s financial operations and served as the deputy leader of IS under the late Abu Bakr al-Baghdadi.

He described it as “one of the most difficult” cross border intelligence operations ever conducted by Iraqi forces.

Iraqi intelligence officials told The Associated Press that Jassem was detained in an identified foreign country and transported to Iraq days ago. They spoke on condition of anonymity because they were not authorised to speak of the operation on the record. Jassem worked with al-Qaida in Iraq leader Abu Musab al-Zarqawi, before the Americans killed him in Iraq in 2016.

He assumed various security positions in Iraq and moved to Syria in 2015, after the

Islamic State group, an Al-Qaeda offshoot, declared its caliphate in 2014 and became the deputy of Abu Bakr al-Baghdadi, the extremist group’s leader.

Al-Baghdadi was killed in a US-led raid in northwestern Syria in 2019.

After 34 Years, Murder Trial of Ex-Burkina Faso President Begins A trial on the assassination of Burkina Faso’s former president, Thomas Sankara, begins Monday, more than three decades after he and 13 others were killed in a 1987 coup. Former President Blaise Compaore, the main defendant in the trial, who lives in exile in Ivory Coast, will not be present at the military court in Ouagadougou.

Sankara is still considered a national hero in Burkina Faso.

Alouna Traore is the lone survivor of an attack that killed then President Sankara and 12 others in October 1987. Traore, Sankara’s legal adviser, remembers the day of the assassination.

Compaore was ousted in a coup in 2014 after 27 years of rule and has been in exile in Ivory Coast ever since. His lawyers denounced the trial as “political” last week.

A previous trial for the Sankara assassination was held under Compaore’s rule, but the transitional government dismissed that judgment as politicised and invalid after Compaore was ousted.

MNJTF: 3,000 Boko Haram Terrorists Have Surrendered The commander of multinational troops fighting Boko Haram has said at least 3,000 of the militants have surrendered since August. Nigeria-born Major General Abdul Khalifa Ibrahim spoke Sunday at the end of a visit to Cameroon, VOA reports.

General Ibrahim, commander of the four-nation Multinational Joint Task Force Commission, or MNJTF, says the number of militants escaping from Boko Haram is increasing by the day.

“I can tell you authoritatively from the beginning of August, about 3,000 Boko Haram members have surrendered. This is just within the Multinational Joint Task Force in Cameroon and in Nigeria,” he said.

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T H I S D AY ˾ ͯͰ, ͰͮͰͯ

FEATURES

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

Lady Comfort Nwosu: The Little Girl with Big Dreams Lady Comfort Olumuyiwa Nwosu clocked 65 years old recently and her activist husband, Sir Sunday Nwosu along with their children deemed it fit to throw a surprise party to celebrate a woman who through thick and thin has remained a dependable rock to the entire family and community in which she lives. During a chat with Mary Nnah, the business woman, who went down memory lane, shared her dreams as little girl and the trajectory of her sojourn on earth

L-R: Group Managing Director, First Bank Nigeria Holding, Elder UK Eke; Celebrant, Lady Comfort Nwosu; Her husband, Sir Sunny Nwosu and Chairman, Greenwich Merchant Bank, Mr Olukayode Falowo

G

rowing up, Lady Comfort Olumuyiwa Nwosu, like every other young girl, had dreams.

She was a simple girl but with a lot of dreams for a better future and of course, of becoming a great woman.

She was the perfect description of the little girl that wanted everything – she wanted to go to school and graduate as one of the best students, she wanted the best job in town soon after graduation, she wanted to live a good life and of course she wanted a prince charming that will sweep her off her feet someday and thereafter, lives happily ever with him.

But life, most often, comes with surprises, some good, some not so good and other times; things may not even go as planned.

Born on April 8, 1956, Comfort's mother died on the 16th of that same month, when she was precisely eight days old. Even though she hadn’t started having her dreams then since she was still an infant, her life automatically took a new turn. She started living with relatives from infancy and never knew what the future held for her.

“I grew up with aunties and uncles but they were not there for me. When my mother died, there were lots of promises but soon after everyone forgot the promises they made turning their back at me. I was mom`s third child. I went through a lot of difficulties in life. I have seen a lot of things which I cannot talk about but I just want to keep praising God for my life. I struggled all alone to survive in life because of the many difficulties I faced as a child. I had to get married at a very early age; I was 22; I wouldn’t have married at that age, if I had someone to pay my fees through school. I just had to get myself a husband because I didn’t want to be forced into living a wayward life, so I got married as soon as I could and settled down”, she recalled.

Comfort, as she was called then, was a little girl with big dreams - a girl trying to follow her dreams. So, taking that decision to marry early in life turned out to be the very best decision she ever took in her life because she eventually met her dream man who supported her dreams all the way.

“I got married at 22 years old but that wasn’t what I planned for myself. But I know God's plans prevail in everything we do in life. In fact when I was going through all the tough times while growing up, I said to God, please what you don`t want me to do, do not allow it to come my way. I told God that I wanted to settle down and start having my own children instead of roaming the streets doing rubbish”, she recalled.

While recalling that nobody was ready to help while she was in her predicament, she said, “Neither uncles nor aunties; brother nor sisters were there for me. Not even a single person that called themselves family was there for me and these were people that my parents were so nice to while they were alive. But thank God that I didn’t regret any step I took even though there were a lot of things I would have loved to do then

Celebrant's children, Mrs. Priscilla Uloma Caxtonmartins, Mrs Stella Nwosu (daughter-inlaw), Micheal Obinna Nwosu and Mary Ugonnaya Yewande Owie

if I had the opportunity”, she noted.

Looking back at her life in the last 65 years, even though there were a lot of things she would have loved to do differently, she is still grateful to God as her life didn't turn out as worse as she had feared.

“Of course, there were so many things I wanted to do differently in my life but I will not dwell on that because God has been faithful to me despite all odds. I am so happy and lack words to express myself. I am grateful to God that has kept me up to this time. I have passed through a lot but God`s mercy has been sufficient to me and every member of my family. God has been so good to me in everything. Now, I am very much okay because I do not carry burdens on my mind. I allow God to take charge of every situation in my life and that is what has kept me going and God has always been there for me” Lady Nwosu noted.

They say that the flower can only bloom when in an ambient atmosphere, so with much hope, excitement and anxiety, Lady Nwosu made attempts to get the best of education but it never worked as she lacked the support she needed then.

Taking her mind back to those ugly old days, she said, “I attended school when I was living with one of my aunties in Ile Ife then. I attended primary school and attempted secondary school for a couple of years but I could not finish secondary school due to lack of financial assistance.”

Little Comfort dropped out of school because the challenges were enormous.

“The challenges were overwhelming –no books, no uniform and nothing. It was like they just put me in a school and left me there to struggle all alone.

And even then I used to leave home to school by 11 am because I would be forced to stay to finish all the house chores before I was allowed to school.

By the time I get to school they would not allow me into class due to lateness.

So, the pressure was so much on me and I had to drop out of secondary school.”

Not daunted, Lady Nwosu came to Lagos where she attended the Elegance Hairdressing School at Ogunlana Drive,

Surulere just to ensure that her dream of becoming a great woman was achieved and in Lagos luck shone on her.

“I started in 1977 and finished in 1978.

It was just when I was finishing learning hairdressing that I met my husband and we got married in 1978 as soon as I rounded off at the hairdressing school.”

After her graduation, she went fully into hairdressing business with full support from her loving and supportive husband, Sir Sunday Nnamdi Nwosu.

For about 30 years, Lady Nsowu recorded huge success in her hairdressing business, up till the day she decided to fold up the business due to the demise of her eldest child.

“When I lost my first daughter, I was so overwhelmed so much that I lost interest in everything around me and that was how my hairdressing business of 30 years collapsed. After some time, I went into soft drinks business and that is what I do till today.”

For Lady Nwosu, the most memorable day in her life is when she had her first child. Even though the births of all other of her children were fantastic experiences, her first child’s was most memorable. No wonder she was left so devastated when she lost her.

Interestingly, Lady Nwosu, a Yoruba from Ogun State is married to an Igbo man, precisely from Ikwuano Local Government Area in Abia State.

She recalled that marrying a man from a different tribe aside hers was very tough at first. It was really tough for her husband’s family to accept her and vice versa. But all she needed was a man who believed in her.

“It was tough at first! I don’t even want to go there. It is very tough to marry someone from another tribe especially when you do not understand his language. But in everything I still thank God. He prevailed over every difficulty for me”, she noted.

She however described her husband as the most loving and caring person she has ever met.

“My husband is a very nice man; a good father; a loving husband and he is good to everyone who comes across him. He is a father to everybody that knows him. He is an activist and has been doing this for a very long time”,

Despite all that she went through, and even when it seemed her dreams weren’t going to come to fruition, she remained undaunted, pulled through and came out triumphantly, thus achieving her dreams of being a great woman and living a good life

she said of her husband.

Collaborating, her husband, Sir Sunday Nnamdi Nwosu, an activist and founder of the Independent Shareholders Association of Nigeria, who sat quietly while she spoke with this reporter, quickly chipped in: “We continue to pray for enduring marriage after more than 40 years. We don’t pray to be like Bill Gates and Melinda Gates, so that implies that we are satisfied with our relationship and we are in love. That speaks clearly when I said we don’t want to be like Bill Gates and his wife. It is a clear indication of existing love between us despite all challenges because there is no marriage without challenges and these challenges could be a threat to co-existence but what is more important is patience to survive such challenges.

“In a clear sentence, she is a loving wife and I am also a loving husband. I love her and I have no intention of separating from her or of taking another wife”, he added.

Sir Nwosu, who speaks Yoruba so fluently, reiterated that inter-tribal marriage is the unity that is needed to cement the sovereignty of the nation, adding, “If every other tribe can see it from that way it will be better for Nigeria. I strongly believe that this kind of inter-tribal marriages where we speak each other's language is also part of the endurance and cementation of love between people and that is exactly what makes me joyful in this home.”

He revealed further that his son is married to an Akwa Ibom woman while his three girls are married to different tribes: "One is married to an Ekiti man while another is married to a Lagosian and the last married to a Benin person. We do not see anything wrong about inter-tribal marriages because we are all children of God and one way or the other, our prayer will be that the children that we bear wherever we find ourselves, should be good ambassadors of the source of their mothers. What is more important is happiness”, he noted.

Despite all that she went through, and even when it seemed her dreams weren’t going to come to fruition, she remained undaunted, pulled through and came out triumphantly, thus achieving her dreams of being a great woman and living a good life.

And today, that little girl with big dreams lacks nothing!

For this conquest she had this to tell young people, especially girls who are struggling with life. "Patience and endurance is very important in all that we do in life. You have to be patient to be able to get to your destination in life. Patience and endurance will take you to your destination in life. You do not need to be in haste but be focused on what you want in life. There is nowhere you will go that you will not face problems; whether in marriage, career or education, there will always be one problem or the other. It will now depend on how you carry yourself and your problems. The most important thing is to be humble, patient and determined to succeed.”

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FEATURES

VIACOMCBS: Celebrating Nigeria’s Cultural Influence 61 Years’ Post-independence Bada Akintunde-Johnson

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igeria’s cultural and creative industries have experienced formidable growth in the past decade. Home to an influential music scene firmly rooted in Nigerian culture, the Nigerian entertainment space has drastically transformed from a place of local significance to international relevance.

This spike in global interest in African content cannot be adequately analyzed without discussing our contributions/ impacts as ViacomCBS Networks Africa (VCNA) over the years.

Working with the vision to reimagine Africa, we took on the truly ambitious goal of establishing educational and entertaining platforms for Africans to tell their stories while giving them an avenue to display their talents to a wider audience.

This has been aptly demonstrated through unique shows and contents curated on our brand channels such as Musicology, Celeb Living and Inside Life with Erica on MTV Base, the Nelson Mandela Day ‘Let’s Read’ and Nick Music on Nickelodeon, as well as the EP Project and Grab The Mic on Comedy Central.

The channel brands particularly have played, and are still playing phenomenal roles in propelling local talent to global limelight. Asides from creating platforms for artistes to showcase their talent, we have made tremendous investments in creatives that work behind the scene. In the mid-2000s, we recognized a gap in the videography space. We worked to bridge this gap by providing exposure, world-class training and state-of-the-art equipment to Nigerian videographers in order to significantly improve the video quality of music videos produced in Nigeria.

Worthy of note is the increased visibility Nigerian artistes have received through ViacomCBS’ channel brands. With our flagship channel MTV Base, Nigerian music has gained more airplay in the last decade. MTV Base Official Naija Top Ten (ONTT), in particular has featured many of the

Akintunde-Johnson movers and shakers of Nigeria's music space, helping viewers understand their journey to stardom.

The MTV Shuga TV series created more awareness about sexual and reproductive health issues

which were otherwise considered abominable in everyday conversation. The series paved the way for the emergence of a new generation of African actors in the film industry. Following the launch of BET Africa in 2015, the channel

has featured several Nigerian artistes, Burna Boy, Davido, Wizkid, Omah Lay, Rema, Tems amongst others, through the inclusion of African nominees in the highly respected BET Awards platform celebrating Black Excellence across the world as well as the BET Amplified International Artist of the Month spotlight platform.

We also created the MTV Africa Music Awards, also known as the MAMAs to spotlight the most popular contemporary music in Africa. This platform has awarded the likes of PSquare, Tiwa Savage, DBanj, 2Face Idibia, Fela Kuti, Tekno, Wizkid, Yemi Alade and a host of other artistes that have become household names in the industry today whilst also enabling collaborations between the best African artistes and their counterparts from Europe and America.

Taking the vision of a reimagined Africa beyond the entertainment space, we partnered with global content platform, YouTube, to organize the 2020 and 2021 Africa Day Concert to support UNICEF, the World Food Programme (WFP), and other organizations in their effort to bring awareness to the impact of COVID-19 on the continent and provide muchneeded relief materials to vulnerable Africans suffering from the effect of the pandemic.

Over the years, we have worked to change the age-old narrative that African content is not "good enough" to be exported to other countries.

Today, more than sixty years postindependence, Nigeria's rich cultural heritage is being celebrated all over the world. Nigerian artists and entertainers have taken their pride of place amongst their contemporaries.

While one may have expected that this emergence would have been more as a result of strategic political or economic planning, we have effectively leveraged the unconventional path of arts and culture to create this phenomenal transformation and we are optimistic for greater strides in the near future.

-Bada Akintunde-Johnson is Country Manager ViacomCBS Networks Africa.

Bolstering Africa’s Gambling Industry through Technology David Oputah

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he global gambling market continues to witness exponential growth. Whilst there are still concerns, there are arguments that the gambling industry can be beneficial to a country if it is well regulated. According to The Business Research Company, the global gambling market is expected to reach a value of around $565.4 billion, growing at an annual rate of 5.9% through 2022. All indications are that the gambling industry is experiencing a boom across the world, and Africa is no exception.

The two largest gambling markets in Africa are South Africa and Nigeria.

South Africa’s Gross Gaming Revenue (GGR) is estimated to reach $2.5 billion in 2021. In the 2019-2020 financial year, the revenue generated by the sector stood at R33 billion ($2.2 billion). That translated into taxes amounting to R3.2 billion ($220 million) to the South African government.

According to the Nigerian Minister for Special Duties and Intergovernmental Affairs, George Akume, Nigeria’s gambling industry, in 2019, grossed over N250 billion ($607 million). Kenya is another gambling market of interest, currently ranking as the third largest in Africa. The estimated size of the sector is $40 million, as of 2020, and continues to grow as per

data provided by Slotegrator. In Ghana, the revenue from console games hit $6.3 million in 2018, and forecasts suggest that it will increase to $9.3 million by 2023.

Those figures depict a sector with huge potential and African governments can leverage a lot more on this industry by investing the earnings in sports and other development projects. Indeed, many states have approved commercial casino gambling, primarily because they see it as a tool for economic growth. The greatest benefits are increased employment, greater tax revenue to state and local governments, and growth in local retail sales - but this is hinged on effective regulation of the sector.

Africa’s growing young population and uptake of internet and smartphone technology have further driven growth of this sector, with Futuresource Consulting, a specialist research and knowledge-based consulting company, estimating that the annual audience size in the region will grow from 30 million in 2020 to 53 million by 2023.

According to the World Financial Review, Africa is currently experiencing an online gambling revolution, with at least 30% of the continent taking part in one form of online

gambling or the other. With the launch of 4G and 5G networks across Africa, internet connectivity has also increased. The implication of the powerful 4G network and website development in Africa has led to the influx of players into its online gambling landscape. 4G networks have steadily been increasing in many African countries and there are some countries that have already began the roll-out of 5G networks.

These include countries like South Africa and Kenya, and Nigeria has announced that they too will begin rolling out 5G soon.

But to ensure that these revenues are maximized there must be oversight of the sector by regulators and governments. There are a few recent examples of African governments streamlining their efforts in ensuring transparency across this sector while driving revenue assurance. Earlier this year, the Federal Government of Nigeria indicated its intention to acquire a central monitoring system specifically for the gambling industry. This system is intended to support the Nigerian government and the National Lottery Regulatory Commission (NLRC) conduct their oversight role of the sector and help reduce the rate of revenue leakages.

Despite the large revenue generated by Nigeria’s gambling sector in 2019, the government only received a meagre N1 billion ($2 million), clearly highlighting the need for improved revenue collection in the sector.

Likewise, other countries, including Ghana, could follow a similar route over the next 2 years. The success of utilising this type of technology is evident across the globe and will greatly benefit the growing gambling market of Africa too.

Similar systems have been employed by other countries to monitor and regulate sectors such as telecommunications and their success can be replicated by the system Nigeria is looking at employing.

With the recent spike in gambling, future transformations in the industry are inevitable. The greater interest in gambling may accelerate a shift – already underway – towards the delivery of games via mobile and cloud-based platforms. Africa take advantage of this boom and adopt the use of technologies that ease the oversight of the sector, so as to maximise on the revenues being generated as more forms of gambling become legal.

-David is a Bloomberg trained Financial journalist with interests in business education and communication. He lives in Lagos.

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Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Marketing Services Manager Spectranet, Samson Akejelu; Chief Executive Officer, Spectranet, Ajay Awasthi, jointly receiving the 2021 Best 4G Internet Service Provider award from the Deputy Editor-in-Chief, Nigeria Communications Week (the organiser of BoICT awards), Chike Onwmuegbuchi, during the BoICT awards presentation ceremony in Lagos...recently PHOTO: ABAYOMI AKINYELE

L-R: Chief Executive Officer/Director of Ebony Funeral Home, Mr. Deinde Harrison; husband of the deceased, Mr. Sunday Adeniyi Adegeye popularly known as King Sunny Ade; and the son of the deceased, Mr. George Folarin Adegeye, at the burial of late Hon. Ajoke Risikat Adegeye held at Ebony Vaults, Ikoyi in Lagos... recently PHOTO: MUBO PETERS

L-R: Director, Cascades Luxury, Chike Memeh; Lagos State Commissioner for Economic Planning and Budget, Hon. Samuel Egube; Ogun State Commissioner for Transportation, Hon. Gbenga Dairo; and Partner of Praxis Legal Solicitors, Conrad Memeh, during the opening exhibition of SCENTIFIED by Cascades Luxury (a display of niche and exclusive fragrances) at the Ikeja City Mall, Ikeja, Lagos…recently

L- R: Director, Richway Microfinance Bank (MFB), Dr. Fatai Lawal; Chief Executive Officer, Urbanwell Oil and Gas, Segun Shoyombo; CEO, AMBA Global Services, Margaret Oni; Publisher, News Thumb Magazine, Mr. Shotayo Okayinka; CEO, Richway Microfinance Bank, Adenrele Oni; and CEO, Phodia Global Services, Phillip Odiavbara, at the News Thumb annual awards, where Adenrele Oni won the Outstanding Performing MFB CEO of the year 2021, held in Lagos…recently

L-R: Chief Finance Officer, Mrs. Olubunmi Olukoju; Chief Marketing and Strategy Officer, Mr. Ugochukwu Obi-Chukwu; Chief Executive Officer, Mrs. Folake Soetan; Chief Commercial Officer, Mrs. Ogochukwu Onyelucheya; and Chief Risk Officer, Mr. Waidi Gbadamosi, all of Ikeja Electric Distribution Company(Disco), during the launch of the Disco Singleview web application in Lagos…recently PHOTO: ABIODUN AJALA

L-R: Bride’s father, Prof. Taiwo Osipitan (SAN); Managing Director/CEO, Great Nigeria Insurance Plc/mother of the bride, Mrs. Cecilia Osipitan; the couple, Mr. Adedeji Sanyaolu and his wife, Oreoluwa Gbekeloluwa; Governor of Ogun State, Mr. Dapo Abiodun, and his wife, Bamidele Abiodun, at the wedding of Adedeji and Oreoluwa Sanyaolu at the All Souls’ Church in Lekki, Lagos…recently

L-R: Human Resource Director, AXA Mansard, Omowunmi Adewusi; Head of the Entrepreneurial Sales Group, Anthony Ode; Chief Actuary, Jolaolu Fakoya; Chief Client Officer, Rashidat Adebisi; Chief Financial Officer, Ngozi Ola-Israel; and Chief Executive Officer, Kunle Ahmed, during the AXA Week for Good Beach Clean-up exercise in Lagos…recently

L-R: Wife of the Primate of the Anglican Church of Nigeria, Mrs. Angela Ndukuba; Bishop of Orlu Diocese of Anglican, His Lordship Rt. Rev Benjamin Chinedum; the Primate and Metropolitan Church of Nigeria (Anglican Communion), His Grace, Most Rev Henry Ndukuba; community leaders, Sir Shedrack Anuriora and Chief Paul Chukwuma Obi, during the reception organised by the Ogberuru community in Lagos in honor of the Primate held at the Lagos Continental Hotel, Victoria Island…recently

LAWYER TUESDAY, OCTOBER 12, 2021

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Mrs Hairat Aderinsola Balogun OON

Hairat Aderinsola Balogun: Still an Inspiration at 80

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TUESDAY, OCTOBER 12, 2021 • T H I S D AY

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Personal Liability of Director Who Acts on Behalf of the Company Page IV

la o s n i r e d A t a r Hai n a l l i t S : n u g o l Ba 80 t a n o i t a r i p s In QUOTABLES

Dr Adaralegbe Presents Seminar Paper on Petroleum Energy Economics and Law Page V

‘There’s one Federal High Court, with several Divisions. A Division of the Federal High Court in Lagos, its jurisdiction must be only Lagos….It’s not that a Federal High Court in Lagos will give orders that will bind people in Kano, or Kaduna or Port Harcourt or Enugu….’ - Hon. Justice Olabode Rhodes-Vivour JSC, CFR, Retired Justice of the Supreme Court of Nigeria

‘…..Certainly, you will see a more rapid disposition of cases. We are likely to have more Judges, hopefully, before the year runs out….In the High Court now, we are test running a digitalised system…..

Every court in Lagos should now be able to do teleconferencing…..

We can do Zoom.’ - Hon. Justice Kazeem Olanrewaju Alogba, Chief

LEDAP Seeks to End the Death Penalty in Nigeria Page V

Kubi Udofia PhD Kubi Udofia holds a Doctorate degree in Law from The University of Nottingham, a Certificate in International Risk Management from the Institute of Risk Management, London, a Masters degree in Corporate Law from University College London and a Bachelors degree from University of Uyo in Nigeria.

He is a leading and an acknowledged expert, in corporate restructuring and insolvency law in Nigeria. As a scholarpractitioner, Kubi Udofia has extensively researched and written on a broad spectrum of topical issues in corporate restructuring and insolvency law. He is a seasoned transactional and dispute resolution specialist, with extensive knowledge and practical experience in corporate and commercial law.

He is a Partner at Babalakin & Co, a leading commercial law firm in Nigeria.

III THE ADVOCATE

T H I S D AY • TUESDAY, OCTOBER 12, 2021

2023, Emergency Declaration and the Igbo Question Anambra and the Declaration of a State of Emergency f the situation in the country had not deteriorated to such an all-time low in so many ways, especially in terms of tribalism, ethnicity and distrust of Government, and issues were hitherto handled in the best possible manner, the statement of the Honourable Attorney-General of the Federation (AGF) would not have been received as badly as it was in the South Eastern Nigerian Quarters - it would maybe have been weighed properly on its merits.

Suspicion among the different Nigerian ethnic groups and political parties, is palpable.

Therefore, it was easy for some to ‘cherrypick’ the part of the AGF’s statement which mentioned not ruling out the possibility of declaring a state of emergency in Anambra State, and leaving out the more categorical part of his same statement where he said: “The Government will certainly do the needful in terms of ensuring that elections are held in Anambra, in terms of ensuring necessary security is provided, and in terms of ensuring protection is accorded to life and property”.

Or did the fear of even such a hint in the AGF’s statement, stem from the fact that in 2004, President Obasanjo did actually declare a state of emergency in Plateau State, suspending the Governor and State Legislature, following a crisis of attacks and killings by Christian Militants on Hausa and Fulani Muslims in the Yelwa area of the State in May 2002? The state of emergency lasted for about six months, but by virtue of Section 305(6)(c) of of the 1999 Constitution of the Federal Republic of Nigeria (as amended) (the Constitution), a state of emergency can be further renewed and extended by the National Assembly. In 2013, President Goodluck Jonathan also declared a state of emergency in Borno, Adamawa and Yobe States, due to deadly Boko Haram attacks.

I suppose to many, the thinking is that, if elections could hold in Maiduguri, Borno State on February 23, 2019 just hours after a Boko Haram attack in which rocket propelled grenades were fired into the city and several explosions were heard throughout Maiduguri a couple of hours before voting began, and a state of emergency was not only not declared there, but the voter turnout was recorded to be even higher than that of Lagos that suffered no terrorist attack at all, then what is so special about the pockets of violence that Anambra may be experiencing, that would warrant the declaration of a state of emergency? After all, these days, there are pockets violence all over the country, and no state of emergency has been declared anywhere (see Section 305 of the Constitution).

Closer to home, if a state of emergency has not been declared in the APC State of Imo where all manner of violence occurs practically on a daily basis, including a massive jail break in which 1800 Prisoners escaped (as of May 2021, over 1200 were still at large); where there’s a breakdown of law and order, why should one be declared in Anambra, because less than 20 people were killed in the space of a few weeks there? (Every life that is lost, is precious).

As most things in Nigeria these days, the allusion to the declaration of a state of emergency in Anambra State ahead of the upcoming November Gubernatorial election, has been translated to mean that the South East zone is being treated more harshly than the rest of the country, contrary to Section 42 of the Constitution (discrimination), or that the APC wants to take Anambra State by all means. The issue of whether the conditions for such a declaration exist, is immaterial - its now about - “since you didn’t make the declaration in Borno, Ondo, Kaduna or Imo (all APC States), you cannot make one in Anambra”. Sadly, for quite a while now, this is how our country has been governed - not always on the basis of what is in the best interest of the country and the people, but, unfortunately, on the basis of partisanship, tribalism, ethnicity and their ilk; and since “what is good for the goose, is good for the gander”, even if the conditions did exist in Anambra to warrant a declaration of a state of emergency, to the

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ONIKEPO BRAITHWAITE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com Twitter: @TheAdvocate

The

Advocate “……this situation of imbalance was in existence long before President Buhari's administration came into office in 2015. And, even with two Presidents from the Southern part of Nigeria, Presidents Obasanjo (South West) and Jonathan (South South)…..this particular state of affairs regarding the disadvantaged position of the South East, was not addressed” extent that such conditions also existed in Maiduguri, Imo and other places and no state of emergency was declared in those places, it would be unfair and discriminatory to do so in Anambra.

Thankfully, President Buhari has laid this controversy to rest, by confirming to the outgoing Governor of Anambra State, Willie Obiano, that no state of emergency will be declared there.

The truth of the matter is that, whether it is the Boko Haram insurgents, or bandits, or those who are destroying national assets in Imo State, or forcing people to sit at home, or the hoodlums that hijacked the #EndSARS Protest and destroyed transport buses and the Lagos High Court - they are all terrorists within the definition of Section 1(2) of the Terrorism (Prevention) Act 2011 (TPA). With the state of the economy, plus the kind of hardship Nigerians are currently passing through, I can’t understand why IPOB which claims to be acting for the benefit of the Igbo people, will be using threats, violence and intimidation to prevent the people from going out to earn their daily bread.

How do they expect their people to survive, especially those who earn daily wages, like Labourers - who if they don’t work on a particular day, won’t

have money to feed themselves and their families that day? This is also an act of terrorism, within the context of Section 1(2)(b)(ii) of the TPA (seriously intimidating a population).

Marginalisation of the South East: Fact or Fiction?

The issue of the marginalisation of the South East zone or discrimination against it, is one that now occupies the front burner in Nigeria, especially as it has not only given rise to secessionist movements like MASSOB (Movement for the Actualisation of the Sovereign State of Biafra founded in 1999), and the proscribed Indigenous People of Biafra (IPOB), but is also alleged to be the cause of the unrest and violence that the South East zone is currently experiencing. Cries for secession by the South East have always met with stiff resistance from the Federal Government - whether by means of the 1967-1970 Nigerian Civil War to prevent the establishment of Biafra by Lt Col Chukwuemeka Odumegwu Ojukwu, or the arrest and detention of the Founder of MASSOB, Ralph Uwazuruike in 2005 under the Obasanjo administration on charges of Treason, and now the arrest and detention of Nnamdi Kanu, the

Founder of the Proscribed IPOB on charges of Terrorism and Treason.

Many reasons and/or examples have been proffered, to substantiate this allegation of marginalisation of the South East. As a Lawyer, I can only examine this allegation vis-à-vis the provisions of the law. It is indisputable that Section 3(1) of the Constitution places the South East zone at a disadvantage, being the only zone that has five States, while the North West has seven, and the others, six States each. Even though Abuja, FCT is not a State, geographically it falls into the North Central zone, and also has one Senator and two members of the House of Representatives.

Automatically, those with more States have an advantage over the South East zone, which has the least number of Governors, least representation at the Senate and House of Representatives (See Sections 48 & 49 of the Constitution), and least number of Ministers.

In short, least in most things. Even, the Federal Judiciary - judicial appointments are done on a State by State basis, and by virtue of this fact, the South East zone would have less representation in the Federal Judiciary.

That said, this situation of imbalance was in existence long before President Buhari's administration came into office in 2015. And, even with two Presidents from the Southern part of Nigeria, Presidents Obasanjo (South West) and Jonathan (South South), and several other alterations to the Constitution (including an alleged attempt to amend Section 137(1) (b) to allow for a third term during President Obasanjo’s tenure), this particular state of affairs regarding the disadvantaged position of the South East was not addressed. Of course, we know that technically, State creation is a legislative function and the procedure for it is set out in Sections 8 & 9(3) of the Constitution. On the face of the provisions, State creation looks like a convoluted, almost impossible task; but, in reality, most State Houses of Assembly are controlled by their Governors, so with the buy-in of the Executive, it is easily doable.

Would creating more States in the South East (and in the other zones which have six States) to equalise with the one who has seven States, help to assuage those clamouring for secession? Or does it require more? What can be done to keep us as a peaceful ‘One Nigeria’ built on equality and justice? I firmly believe that together, Nigeria is stronger as a nation. Kindly, share your thoughts on this, my dear Readers.

Conclusion 2023 and the Clamour for a South Eastern Presidency I think it will probably take more than the creation of more States, to pacify the South East zone! However, I do agree with those who maintain that, the clamour for a President who hails from the South East is an intra-party matter. Nigerians can only select and vote for Presidential candidates, who are presented at the polls by their various political parties. Therefore, it is for those who seek this particular outcome, to convince PDP or APC or whichever political party they belong to, to field candidates from the South East.

From the body language of the Parties, even if the Presidential position is zoned to Southern Nigeria, it may not be zoned to a particular area. When it was zoned to the North in the last cycle, it was zoned to the North in general. For example, PDP had candidates from the North East, North West and North Central. Alhaji Atiku Abubakar GCON, who is from Adamawa State, North East zone, emerged the winner of the 2019 PDP Presidential Primaries.

This time around, we are eager to see how the Parties will zone the position of President. It is however, rather worrisome that less than 18 months to the next election, we do not really know who is in the running, let alone have their manifestos for evaluation.

The three major campaign promises of the Buhari administration, remain unfulfilled that is, fighting insecurity and corruption, and revamping the economy. It is no longer enough to give motivational speeches filled with empty promises - as we say in law, ‘he who alleges, must prove’ - Nigerians want to know who, what, and most importantly, how!

IV LAW REPORT

TUESDAY, OCTOBER 12, 2021 • T H I S D AY

Personal Liability of Director Who Acts on Behalf of the Company Facts Based on a sub-lease agreement between the Respondent (as the Sub-lessor) and the Appellants (as Sub-lessee), the Respondent sued the Appellants at the High Court of Lagos State, for trespass and claimed damages. At the end of the trial, the court granted the Respondent’s claims against the Appellants. Aggrieved by the decision of the trial court, the Appellants appealed to the Court of Appeal, Lagos Division, which court allowed the appeal in part. Further dissatisfied with the decision of the Court of Appeal, the Appellants appealed to the Supreme Court.

At the Apex Court, the Appellants had filed their Brief of Argument; in response thereto, the Respondent filed a Notice of Preliminary Objection together with his Respondent’s Brief of Argument, praying for an order dismissing the appeal for want of jurisdiction.

Issues for Determination The court took arguments on the Preliminary Objection along with the substantive appeal, and the following issues were considered by the court: 1. Whether the Second Appellant was rightly adjudged as a necessary party by the lower courts, without whom the suit could not have been Honourable Mohammed Lawal Garba, JSC successfully determined.

2. Whether the valuation report that was pleaded by the Respondent in his Reply to the In the Supreme Court of Nigeria Defendants’ Statement of Defence, was properly Holden at Abuja pleaded and considered by the trial court.

On Friday, the 21st day of May, 2021 Arguments On the Preliminary Objection, counsel for the Respondent argued that all the grounds in the Notice of Appeal complained about the exercise of discretion by the lower court and concurrent findings of the two lower courts. He posited that the grounds are of mixed law and facts, which require prior leave of court to be competent THOR LTD v F.C.M.B. LTD (2020) 4 NWLR (Pt. 757) 427. Responding to the submission, counsel for the Appellants referred to Section 233(2) of the Constitution (as amended). Counsel also referred to ANUKAM v ANUKAM (2006) LEPLR-500(SC) on the distinction between a ground of law alone and ground of mixed law and facts. He argued that the Appellants are not challenging the concurrent findings of the two courts below, but the application of principle of law on pleadings and award of damages on settled facts of the case. Counsel argued further that the grounds of appeal are of law alone, and so do not require leave of court for the appeal.

In his submission on Issue One of the substantive appeal, Counsel for the Appellant relied on the authority of GREEN v GREEN (1987) 3 NWLR (Pt. 61) 460, in support of his position that the Respondent’s Statement of Claim and evidence placed before the trial court did not show that the Second Appellant had any personal interest, or acted at any time in a personal capacity, or is likely to be personally affected by the result of the action. Counsel stated further that there was no privity of contract, between the Respondent and the Second Appellant who is an employee of the First Appellant, and acted at all times, in his official capacity as the Managing Director (MD) and agent of the First Appellant. Relying on the principle of law as enunciated in SALOMON v SALOMON (1987) AC 22, counsel argued that an incorporated company is independent, and a legal personality is distinct and separate from the people who incorporated it. Counsel maintained that an employee acting in an official capacity in his employment as an agent of the employer, incurs no liability, as expressed in Latin; “qulfacir peralum facit a sam facere unidepur”.

Responding to the submissions above, Counsel for the Respondent contended that the arguments on the issue are to the effect that, the Appellants sought to challenge the concurrent findings of the lower courts that the 2nd Appellant is a necessary party in the action. By his position, the findings of the courts below can only be interfered with where they are shown to be perverse, resulting from violation of some principle of law and procedure

Before Their Lordships

Amina Adamu Augie Uwani Musa Abba Aji Mohammed Lawal Garba Abdu Aboki Samuel Chukwudumebi Oseji Justices, Supreme Court SC. 1014/2017 Between 1.

2.

SouthBeach Company Limited Mr Efetobor Jubilee Osowa

Appellants

And Dr Charles Oladeinde Williams

Respondent

(Lead Judgement delivered by Honourable Mohammed Lawal Garba, JSC)

or occasioned a miscarriage of justice, which requirements the Appellants failed to meet.

Relying on BUHARI v YUSUF (2003) 13 NWLR (Pt. 841) 446, learned counsel stated that at the trial, the Second Appellant had explained under cross-examination, that he played an integral part in the negotiation of the contract in question, from the beginning to the end, and even signed/ executed it. Under the provision of Order 13, Rule 6(1) of the High Court of Lagos State (Civil Procedure) Rules, 2012, it was not a requirement for a Claimant to have a specific claim against all the Defendants in the suit, and that once a prima facie case is made against the Defendant, he would be adjudged a necessary party.

With respect to the Second Issue, counsel for the Appellant contended that the pith of the arguments on the issues, are that the valuation report alluded to in the Respondent’s Statement of Claim was filed by the Respondent when the Appellants had no right of response under the rules of pleadings and evidence, having been filed in the Respondent’s Amended Reply to the Appellant’s Amended Statement of Defence.

“…… a contract entered into by the Director or Managing Director of a company in the name of the company, and acting in his official capacity for the company, incurs no personal liability under the contract, unless, of course, there is evidence that he undertook personal liability in making the contract”

Counsel also argued that the Valuation Report had no nexus with the amount claimed as cost of rebuilding the structures destroyed, and that the Respondent did not claim the sum awarded by the lower court as cost of reinstating the damaged property, and there was no evidence to support the award. Relying on OLUBODUN v LAWAL (2008) 17 NWLR (Pt. 115) 1, among others, counsel argued that a Reply cannot be used to raise a new cause of action or issue not contained in the Statement of Claim. Reacting to the submission, Counsel to the Respondent argued that the fulcrum of the submissions is that, by the Rules of Pleadings and the provisions of Orders 3 Rule 2(1) and 15 Rule (1) the Rules of the trial court, the Reply filed by the Respondent formed part of the pleadings of the parties in the case, and the valuation report in question was properly pleaded to make it admissible as evidence in the trial. Counsel relied on AMAECHI v INEC (NO.3) (2007) 18 NWLR (Pt. 725) 592 on the content of pleadings, and on the principle that parties are bound by their pleadings. The court was urged to hold that the valuation report admitted as exhibit A in evidence, was pleaded and properly admitted by the lower court.

Court’s Judgement and Rationale In its determination of the Preliminary Objection, the Supreme Court, relying on MAIHORO v GARBA (1999) 7 SCNJ 270, explained that an appeal which the grounds do not fall or are not within the situations enumerated in the provisions of Section 233(2), is an appeal which by the operation of Section 233(3) mandatorily requires prior leave of court, as a condition precedent, for it to be validly brought or filed, and for it to be competent to vest the

requisite jurisdiction on the court to adjudicate over it. The Supreme Court analysed the three grounds contained in the Notice of Appeal, and held that the questions raised in grounds one and two are of law alone, and did not require prior leave of court to be brought or filed. On ground three which is an omnibus ground, the court held that it involved questions of facts which require prior leave of court, and the Preliminary Objection was upheld on that ground alone.

Regarding the substantive appeal, the court held on the first issue that simply put, a necessary party to a suit is one who is only interested in the subject- matter of the proceedings, but in whose absence the suit could not be fairly, completely, and effectually adjudicated upon, and all material issues finally settled therein by the court. In law, the main or primary reason for making a person a party to a legal proceeding is so that he should at the end, be bound by the result, orders, decisions, or judgement of the court in the action. In this case, there is no disputing the fact that the Second Appellant is the Managing Director and Chief Executive Officer of the First Appellant; he directs and runs its affairs and business; he is its alter ego, directing mind and will under the law. Ordinarily, the First Appellant as an incorporated or registered company is a separate or distinct legal entity and personality, with the requisite legal capacity to sue and be sued in legal actions from the Second Appellant. Relying on NNSC v ALHAJI HAWA JODA SABANA CO. LTD (1988) 2 NWLR (Pt. 74) 23, the court held that a contract entered into by the Director or Managing Director of a company in the name of the company, and acting in his official capacity for the company, incurs no personal liability under the contract, unless, of course, there is evidence that he undertook personal liability in making the contract. It is clear that although the Second Appellant may be interested in the subject-matter of the action against the First Appellant due to his position as the directing mind and will, all the material issues or questions involved in the action could be effectually, completely and finally decided by the trial court, fairly, in his absence. He could not therefore, rightly be described as or held to be a necessary party to the action.

On the second issue, the Apex Court held that only facts, and not the evidence by which such facts are to be proved, need to be pleaded, deposed or averted in pleadings. Referring to Order 15 Rule 2 of the Rules of the trial court, their Lordships held that the Respondent did not only plead the material facts which show the existence of Exhibit ‘A’, but specifically stated that he was going to rely on same. In addition, in his Reply to the Amended Statement of Defence, the Respondent specifically pleaded the said Exhibit ‘A’ as one of the documents to be relied on, in proof of the claim made. In the circumstances, it is gross misconception by learned counsel for the Appellants to say and insist that pleading, production and admission of Exhibit ‘A’ was setting up, raising or making a completely new or fresh claim by the Respondent outside the claim. The court also held that, a party may make claims in his pleading, which the law imposes a burden on him to prove by credible and sufficient evidence, if judgement was to be entered for him by the court - Section 131, 132 and 133(1) of the Evidence Act, 2011. The court has power and authority to enter judgement in favour of a party in respect of the claims whether in whole or in part, which are satisfactorily proved by such evidence as required by law - BALOGUN v UBA LTD (1992) 6 NWLR (Pt. 247) 336.

In the present appeal, since the Respondent had claimed the sum of N200 million as costs of restoration and reinstatement of the property in question in his Statement of Claim, but was only able to satisfactorily prove and establish, through Exhibit ‘A’, that the actual costs as assessed by the experts engaged by him to do so, the lower court was on “terra firma” to have awarded him the lesser amount which was proved by the evidence placed before the trial court.

Appeal Allowed in Part.

Representation S. Edu with E. Okewu for the Appellants.

B. Ibironke for the Respondent.

Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Report (NMLR)(An affiliate of Babalakin & Co.)

V NEWS

T H I S D AY • TUESDAY, OCTOBER 12, 2021

L-R: Mr Nuel Brown, Mrs Pamela Okoroigwe and Mr Collins Okeke

Lagos State Governor, Babajide Sanwo-Olu

Dr Bayo Adaralegbe

P&ID Scam: EFCC Re-Arraigns Nigerian Accomplice Steve Aya A female alleged Nigerian accomplice in the Process and Industrial Development Limited (P&ID) scam, Mrs.Grace Taiga, was on Thursday October 7, 2021, re-arraigned by the Economic and Financial Crimes Commission, EFCC, before Justice Obiora Egwuatu of the Federal High Court, Abuja on nine-count amended charges, bordering on accepting bribes and other related crimes.

Count three of the charge read: “That you Grace Taiga, Enameg Vera Moses Taiga (at large) Brendan Cahill (at large), Michael Quinn (deceased) on or about the 30 of January, 2012 within the jurisdiction of this Honourable Court did conspire to commit an offence to wit, money laundering by disguising the origin of the sum of Five Thousand United States of America Dollars (USD 5,000) paid by Kristholm Limited -a company controlled by the owners and promoters of Process & Industrial Development Limited (P&ID) – into the HSBC bank account of Enameg Vera Moses Taiga domiciled at No.8, Canada Square, London Branch of HSBC, which money you reasonably ought to have known forms part of the proceeds of an unlawful act, to wit; bribery and thereby committed an offence contrary to Section 18(a) and punishable under Section 15(2)(a) and (3) of the Money Laundering Prohibition) Act, 2011 (as amended)”.

Count four reads, “That you Grace Taiga, Enameg Vera Moses Taiga (at large), Brendon Cahill (at large), Michael Quinn (deceased) on or about the 30th of January, 2012 within the jurisdiction of this Honourable Court did commit an offence to wit, disguising the origin of the sum of Five Thousand United States of America Dollars (USD 5,000) paid by Kristholm Limited – a company controlled by the owners and promoters of Process & Industrial Development

Limited (P&ID) into the HSBC bank account of Enameg Vera Moses Taiga domiciled at No.8, Canada Square, London Branch of HSBC, which money you reasonably ought to have known forms part of the proceeds of an unlawful act, to wit: bribery and thereby committed an offence contrary to and punishable under Section 15(2(a) and (3) of the Money Laundering (Prohibition) Act, 2011 (as amended)”.

Count five reads, “That you Grace Taiga, whilst being the Director of Legal at Ministry of Petroleum Resources, on or about the 30th of December, 2009 within the jurisdiction of this Honourable Court did commit an offence to wit, using the sum of Four Thousand Nine Hundred and Sixty Nine United States of American Dollars and Five Cents (USD 4,969.5) paid by Marshpear Limited – a company controlled by the owners and promoters of Process & Industrial Developments Limited (P&ID) into the HSBC bank account of Enameg Vera Moses Taiga domiciled at No.8, Canada Square, London Branch of HSBC, which money you reasonably ought to have known forms part of the proceeds of an unlawful act, to wit; bribery and thereby committed an offence contrary to and punishable under Section 15(21d) and (3) of the Money Laundering (Prohibition) Act, 2011 (as amended)”.

The Defendant pleaded not guilty to all the charges. In view of her plea, Prosecution counsel, Abba Mohammed prayed the court for a trial date, and for the Defendant to be remanded in prison custody.

Defence counsel, Ola Olanipekun, SAN, said he filed a bail application on behalf of the Defendant on March 18, 2021, praying the Judge to admit her to bail on the grounds of ill-health and being a senior Lawyer and former Director, Legal Services in the Ministry of Petroleum Resources, who was called to

Dr Adaralegbe Presents Seminar Paper on Petroleum Energy Economics and Law Dr Bayo Adaralegbe, Partner & Head, Babalakin & Co Energy Group, will be presenting a Paper at the Special Seminar Series of the University of Ibadan's Centre for Petroleum Energy Economics and Law (CPEEL) on Thursday, 14th October, 2021 at 12noon. He will be speaking on "Local Content and its Disconent: An Examination of the Local Content Legal Regimes of Oil

Rich Developing Countries".

Dr Adaralegbe has an LLM (with Distinction) from the CEPMLP, University of Dundee, and a PhD with focus on International Investment Law from the same University. He was awarded a full scholarship by a US based Multinational Oil Corporation, for his PhD studies. Dr Adaralegbe has researched, written and presented Papers on local content issues since 2006.

the Bar in 1977. However, the Prosecution counsel said the Commission filed a counter-affidavit

rejecting the bail application, and a further counter affidavit which he stated that they relied

upon. After listening to the arguments by counsel, Justice Egwuatu released the Defendant

to her counsel, and adjourned the matter to October 27, 2021 for ruling on her bail application.

Supreme Court Reserves Ruling in Union Bank’s Suit Against $15b Judgement Debt Okehie Tochi The Supreme Court on Thursday in Abuja, reserved ruling on a motion by Union Bank Plc seeking among others, leave to appeal against a June 5, 2018 judgement of the Court of Appeal in which theBank and three others were ordered to pay an oil and gas firm – Petro Union Limited – about $15 billion.

A five-member panel of the Apex Court, led by Hon. Justice Musa Dattijo Muhammad, after listening to arguments

by Lawyers to the parties, said they would be informed when the ruling was ready.

Union Bank’s Lawyer, Adegboyega Awomolo, SAN, while arguing the motion, said it contains nine reliefs, among

which was an order for extension of time to file the appeal, and another order for leave to appeal under Order 6 Rule 2(1) of the Supreme Court’s Rules.

Awomolo said his client seeks to raise fresh grounds of appeal and introduce new evidence, necessary for a fair and just determination of the court.

He noted that it was strange that, while the judgements of the Federal High Court, Abuja (delivered on March 11, 2014) and the subsequent one by the Court of Appeal (which affirmed the Federal High Court judgement) were based on a £2.556 billion cheque alleged lodged in Union Bank by Petro Union, the said cheque was never tendered in court.

Awomolo said his client intends to show that, Petro

Union obtained both judgements by fraud. He noted that Petro Union’s Lawyer, Joe Gadzama, SAN, was only opposed to the grant of reliefs four and six, out of the nine Earlier, the Court finally resolved the dispute over who should represent Petro Union between Gadzama and Onyechi Egwuonwu. The Court said, by its earlier ruling on July 6, 2021, it had found that Gadzama was the actual Lawyer for Petro Union. It then barred Egwuonwu, from further participating in the proceedings.

On March 22, 2012, Petro Union sued at the Federal High Court, Abuja and sought among others, an order of mandamus compelling the CBN, Union Bank of Nigeria Plc, Minister of Finance and the Attorney-

General of the Federation to pay £2.5 billion to it. But, in the March 11, 2014 judgement, Justice Adamu Abdu-Kafarati of the Federal High Court, Abuja (now late) held in favour of Petro Union and their Directors against the Defendants.

The liabilities were held by the court to be joint and several against all the four Defendants – CBN, Union Bank, Minister of Finance and the AGF. Out of the four Defendants, only Union Bank and the CBN appealed the judgement of the Federal High Court.

On June 5, 2018, the Court of Appeal, Abuja gave judgement in the appeal by Union Bank, and upheld the judgement

by Justice Kafarati. It is yet to determine the appeal by the CBN.

2021 ACJL Amendment Signed into Law by Sanwo-Olu Steve Aya Governor Babajide Sanwo-Olu has assented to the Administration of Criminal Justice (Amendment) Law (ACJL) of Lagos State, 2021. The new law is aimed at further strengthening the justice system, and to checkmate incidence of Police harassment of innocent citizens in the State.

Accordingly, it is now an Offence for the Police and other security agencies to parade suspects in Lagos State, now that this law has been signed

into law The ACJL was first passed in Lagos State in 2007 and it was amended in 2011, to ensure the Fundamental Rights of suspects and persons that come into contact with the justice system, as enshrined in the Constitution, are protected.

The new amended law will promote the rights of victims and suspects, as well as address the issue of delay in the Administration of Criminal Justice in the State.

According to the AttorneyGeneral and Commissioner for

Justice, Mr. Moyosore Onigbanjo, SAN, key innovative provisions have been introduced as amendments to the Law. He stated that the provisions include conducting criminal proceedings through audio and video conferencing platform, powers of Chief Magistrate to visit Police Stations, prohibition of media parade of suspects, and compensation to victims of crime.

There are also protective measures for victims and witnesses, as well as the Establishment of a Crime Data Register and the

Criminal Justice Sector Reform Committee, to monitor the implementation of this Law. The Attorney-General revealed that the Ministry would collaborate with stakeholders in the administration of criminal justice, to ensure the provisions of the law are enforced. He emphasised that the amended law reinforces the commitment of Governor Sanwo-Olu to the promotion of law and order, protection of rights of citizens, decongestion of our Correctional Facilities, and ensure a crime-free society in Lagos State.

LEDAP Seeks to End the Death Penalty in Nigeria OkehieTochi

The Legal Defence and Assistance Project (LEDAP), on Thursday, called for an abolition of the death penalty as a measure of punishment for capital offences in the Nigerian criminal jurisprudence.

The Project made the call in a news conference held in Lagos, jointly hosted by the Human Rights Law Centre (HURILAWS) Speaking at the Conference, Senior Programme Manager for LEDAP, Mrs. Pamela Okoroigwe, said that the Prohect is concerned with the role of the media in helping to drive home the quest for abolition of the death penalty.

According to her, the world statistics on death penalty shows that as at today, 110 countries of the world have since abolished the death penalty, with the most recent being Sierra Leone.

"Research has revealed that death row inmates are exclusively poor

and without legal representation, thus, rendering the use of death penalty unfair”, she said.

According to her, one of the major reasons the death penalty should be stopped, includes the fact that once done, it cannot be undone, regardless of whether such person is eventually discovered to be innocent."It is now important for society to move away from retributive justice, and look towards restorative justice; as a rehabilitated criminal today, can make meaningful contributions to society tomorrow", she said.

She said that if the death penalty can be abolished, it will greatly serve to improve the administration of criminal justice in the country.

In his remarks, Programme Manager of HURILAWS, Mr. Collins Okeke, said that the argument for the death penalty which has been in existence for over 40 years, stems from the belief that such penalty will reduce the

tide of crime.

According to him, this unfortunately, has not.

"Another perception is the popular notion of "tit for tat", but, sadly, this is also not always the case, as it is clear that tit is not always for tat, especially in our contemporary society.

"So, a basic question should be, how do we deal with the victims of crime? Is there a way to make the person compensate the family?

I think these are areas we must look into."We must take a holistic picture of these issues surrounding the death penalty, for it is not just a case of justice for the victim, but also justice to society as well", he said.

Okeke, therefore, urged a reshaping of the security architecture of the country, as a first step to warding off crime in society, so as to mitigate circumstances of the death penalty.

"I think we have an opportunity to address this situation, and I urge us all, and also call on well meaning

Nigerians as well as civil society groups, to join in addressing this situation", he said.

Also speaking at the event, an analyst, Mr. Jude Igbanoi, urged on the need to explore a more restorative form of justice, aimed at bringing out the good in any convict as opposed to the death penalty.

Mr Igbanoi called for the adoption of an unofficial moratorium, which will first serve as a test avenue, before the abolition of the death penalty.

"My plea to civil society, is to go back and have an unofficial moratorium in place, before we get to the official; when tested successfully, the abolition can then be made complete", he said.

In his remarks, a constitutional Lawyer, Mr. Nuel Brown, urged that the principle of "audi alteram partem" (hearing both sides), should continually and effectively form the basis for justice delivery in Nigeria.

VI

TUESDAY, OCTOBER 12, 2021 • T H I S D AY

Can the CJN’s War End Conflicting Court Orders?

This article by Ahuraka Yusuf Isah discusses the issue of courts of coordinate jurisdiction giving conflicting orders on the same cases with the same subject-matter, citing the recent APGA Gubernatorial and the PDP Chairmanship crises as examples, going as far back as June 12, 1993. He however, believes that now that the CJN, Hon. Justice Ibrahim Tanko Muhammad CON, has declared war on this unwholesome practice which has been fuelled by Politicians, we should see the end of this shenanigans billed to preside over a meeting of the PDP National Executive Committee (NEC), the Cross River State High Court sitting in Calabar barred him from returning to office as the National Chairman of the party. The court presided by Justice Edem Kooffreh granted the interim order, while ruling on a motion ex parte filed by Enang Wani against Secondus and the PDP. Ruling on an ex parte application numbered HC/240/2021, the Judge granted an order of interim injunction restraining Secondus from assuming the office of the National Chairman of the PDP while seeking reelection, pending the hearing and determination of the motion on notice. He was also barred from presiding over any meeting of the party, until the motion was heard. In the same vein, the court restrained Secondus from attending the meetings of organs of the PDP in the capacity of National Chairman, and any other form. He was also restrained from attempting to forcefully gain entrance into any meeting, or into the premises of the party as National Chairman pending the hearing and determination of the motion on notice.

The PDP was equally restrained from recognising or granting Secondus the powers due to the office of the National Chairman, until the final determination of the suit which was adjourned to September 7 for the hearing.

Background n August 30, 2021, the Chief Justice of Nigeria (CJN), Hon. Justice Ibrahim Tanko Muhammad, summoned six Chief Judges of the State High Courts in the country, in a bid to halt the indiscriminate granting of court orders and injunctions by some Judges, and to arrest descent to judicial anarchy and disrepute. The Chief Judges (CJs) invited to appear before the NJC were that of Rivers, Anambra, Jigawa, Kebbi, Imo and Cross River State. While the High Courts of Imo, Jigawa and Anambra were required to explain their roles in the Anambra Governorship election, the High Courts of Rivers, Kebbi and Cross River on the other hand, were involved in the case of the PDP Chairman, Prince Uche Secondus.

However, three days after the CJN summoned the six CJs, on September 2, 2021 to be precise, the Chief Judge of Delta State High Court, Justice Marshal Umukoro granted an order stopping Governor Mai Mala Buni of Yobe State, as the Caretaker Committee Chairman of the All Progressives Congress (APC). The Supreme Court had earlier made a pronouncement on the same matter; therefore, Justice Umukoro’s ex-parte order amounted to sitting on appeal against the Apex Court’s judgement. Consequently, the CJN summoned him too, for a meeting on September 7, 2021 alongside with the six other CJs.

O

Current Conflicting Court Orders It all began when the Jigawa, Imo, Anambra State High Courts fell over one another, to dish out orders on the Anambra State All Progressives Grand Alliance (APGA) crisis. On June 28, 2021, Justice Justice Musa Ubale of the Jigawa State High Court, handed down an order to affirm Jude Okeke’s claim to the position of National Chairman of the All Progressives Grand Alliance (APGA). Okeke is the leader of a faction of APGA which conducted the parallel primary election that produced a member of the House of Representatives, Chukwuma Umeoji as the party’s candidate for the November 6, 2021 Governorship election in Anambra State.

Former CBN Governor, Chukwuma Soludo, battled several court orders to emerge as APGA’s candidate for Anambra gubernatorial election, by winning the June 23 primary election organised by the party’s leadership led by Victor Oye. Justice Ubale upheld Okeke’s claim that he became the acting National Chairman of APGA, after purportedly taking over from one Edozie Njoku, who was said to be on suspension.

A Delta State High Court presided by Justice Joe Egwu had earlier issued an injunction against the parallel primary organised by the Okeke faction, but the Judge later allowed the event to go ahead after vacating the order.

Oye was reportedly the APGA national Chairman recognised by INEC, and the primary which produced Soludo was monitored by the Commission, and was also affirmed by Anambra State Governor, Willie Obiano, who has endorsed Soludo as his successor.

But, as a result of the June 28, 2021 court order delivered by the Jigawa State High Court, INEC listed Umeoji, rather than Soludo, as APGA candidate, when an initial list of candidates for the election was published on July 16, 2021. There were reports that INEC only got to know about the order of the Jigawa State High Court that compelled it to recognise Umeoji, just hours before it released the list of the Gubernatorial candidates.

An Anambra State High Court presided by Justice C. C. Okaa on July 19 reinstated Soludo as the

Chief Justice of Nigeria, Hon. Justice Ibrahim Tanko Muhammad

APGA candidate for the Gubernatorial election, by declaring that the former CBN Governor was the authentic candidate of APGA. The court described the Okeke-led APGA faction and its Governorship flagbearer (Umeoji) as meddlesome interlopers, and ordered INEC to publish Soludo’s name as the Gubernatorial candidate of the party. But, following a suit filed by an APGA member, Chike Dike, to challenge the publication of Umeoji’s name

by INEC, an Imo State High Court presided

by Justice B. C. Iheka on June 30 affirmed that Okeke remained the National Chairman of APGA, with Umeoji as the party’s Gubernatorial candidate.

However, INEC finally reinstated Soludo as the APGA candidate for the Gubernatorial poll after Justice Nwosu-Ikpeme of the Court of Appeal, Awka Division, in August, dismissed an application filed by the Okeke faction to challenge the July 19 judgement of the Anambra High Court which declared the former CBN Governor as the party’s authentic flagbearer. However, Justice Nwosu-Ikpeme accused the politicians of judgement shopping to enable them to contest in the November 6 Governorship election, rather than appear before the courts with the territorial jurisdiction to adjudicate on the election. She accused also the Judges and Lawyers who indulged such politicians, and as a result, tarnished the image of the legal profession.

Justice Nwosu-Ikpeme went further to demand punishment for Justice Musa Ubale of the Jigawa State High Court and Justice B. C. Iheka of the Imo State High Court, for dabbling into the controversy surrounding the Anambra Gubernatorial election and giving consequential judgements on the matter. According to her, the actions of

“Not until the current CJN, Hon. Justice Ibrahim Tanko Muhammad declared war on Judges dishing out conflicting judgements, no Judge ever thought he could be punished for such an infraction”

the Imo and Jigawa Judges amounted to professional misconduct. She also demanded that Lawyers who took the cases to the High Court in Jigawa and Imo States, be punished for professional misconduct.

2021 PDP Chairmanship Crisis At the last count, three different courts in three different States had handed out three different orders on Uche Secondus’ position as National Chairman of the PDP. The court orders were delivered within a period of just five days – from August 23, 2021 to August 27, 2021.

The first court order came on August 23, when a Rivers State High Court presided over by Justice O. Gbasam granted an interim injunction restraining Secondus from parading himself as the Chairman and a member of the PDP. The order followed an ex parte application in Suit No: PHC/2183/CS/2021 filed by Ibeabuchi Ernest Alex, Dennis Nna Amadi, Emmanuel Stephen and Umezirike Onucha against Uche Secondus (1st Defendant) and the PDP (2nd Defendant). The court also ordered Secondus to refrain from calling, attending or presiding over any meeting of the PDP, or any Committee of the party at the ward, local government or State level, or calling for any ward, local government or State congress of the party. He was also restrained from setting up Committees for congresses, or participating in any activity of the PDP whatsoever whilst on suspension, pending the hearing and determination of the suit.

A second court order came on August 26. In a ruling which upturned the earlier pronouncement by the Rivers State High Court, a Kebbi State High Court ordered Secondus to return to his position as the National Chairman of the PDP. The Kebbi State High Court, presided by Justice Nusirat Umar, gave the order while ruling on an application filed by three concerned members of the PDP – Yahaya Usman, Abubakar Mohammed and Bashar Suleman – in a suit numbered KB/AC/M. 170/2021. The Judge said she was satisfied that an interim order be granted on the purported suspension of Secondus, pending the determination of the case.

The third court order, issued by a Cross River State High Court on August 27, overturned Secondus’ reinstatement by the Kebbi State High Court. Just hours before Secondus was

The June 12, 1993 Conflicting Orders Several Judges in the past, have also been involved in issuing conflicting court injunctions on the same matter pending before court(s) of coordinate jurisdiction, with utter impunity. Not until the current CJN, Hon. Justice Ibrahim Tanko Muhammad declared war on Judges dishing out conflicting judgements, no Judge ever thought he could be punished for such an infraction.

Take for instance, the integrity and perhaps, the reputation of nation’s Judiciary which was torn to shreds at the twilight of June 12, 1993 Presidential election and shortly after, when a deluge of suits were filed to halt the election, as well as urging it to be conducted.

It all began with the June 11, 1993 night-time ruling of Justice Bassey Ikpeme, which ordered the then electoral umpire not to conduct the Presidential election billed to hold the following day. Bassey Ikpeme was a practicing Lawyer in General Ibrahim Babangida’s Attorney-General of the Federation and Minister of Justice, Clement Akpamgbo’s law firm. She was appointed a Justice of the FCT High Court few days before June 12, 1993; and the first case, albeit also the last case she sat on, was the ex-parte application filed by Chief Arthur Nzeribe’s Association for Better Nigeria (ABN). ABN told the court that, both NRC and SDP presidential candidates were corrupt.

On June 23, 1993 when General Babangida announced the annulment of the June 12, 1993 Presidential election, highly believed to have been won by the late Chief Moshood Abiola, he blamed the Judiciary for the crisis leading to his decision. ‘’It must be acknowledged that the performance of the Judiciary on this occasion, was less than satisfactory. The Judiciary has been the bastion of the hopes and liberties of our citizens. Therefore, when it became clear that the courts had become intimidated and subjected to the manipulation of the political process and vested interests, then the entire political system was in clear danger. This administration could not continue to watch the various High Courts carry on their long drawn out processes and contradictory decisions, while the nation slides into chaos. It was under this circumstance that the National Defence and Security Council decided that it is in the supreme interest of law and order, political stability and peace, that the Presidential election be annulled’’, Babangida stated.

In the same vein, General Sani Abacha blamed the Judiciary for sacking Chief Ernest Shonekan’s Interim National Government (ING), following Justice Dolapo Akinsanya of Lagos High Court’s judgement, declaring ING illegal and an aberration.

General Abacha however, set up a panel headed by the late Justice Kayode Esho in 1994, to cleanse the Judiciary due to its performance in the previous year, and the Panel recommended 47 justices for sack.

Ahuraka Yusuf Isah, is the Senior Special Assistant on Media to the Honourable Chief Justice of Nigeria

VII

T H I S D AY • TUESDAY, OCTOBER 12, 2021

INSOLVENCY DISCOURSE DR KUBI UDOFIA

INFO@KUBIUDOFIA.COM

When the Hunter Becomes the Hunted: Making Libellous Allegations of Indebtedness or Insolvency Introduction

A

few months ago, Heritage Bank Ltd grabbed the headlines when it employed a novel debt recovery stratagem against Senator Andy Uba. Placard-wielding employees of the bank “picketed” the residence of Senator Uba, demanding the payment of an alleged N5billion debt. In a swift response, Senator Uba alleged that the bank’s action was politically-motivated. He threatened the bank with a libel suit, and demanded an apology in five national dailies and (interestingly) N5billion in damages.

Over the years, the Central Bank of Nigeria (CBN) and deposit money banks have employed diverse measures to tackle the perennial problem of non-performing loans. Notably, in 2015 the CBN directed banks to commence publication of details of “delinquent debtors” in at least three national dallies every quarter. Expectedly, the implementation of this directive resulted in a barrage of libel suits, some of which are still pending. This discourse examines circumstances in which imputations of insolvency or indebtedness may be libellous. It is by no means an exhaustive examination of this subject matter.

The Tort of Libel “Good name in man and woman, dear my lord, is the immediate jewel of their souls; who steals my purse steals trash … but he that fliches from me my good name robs me of that which not enriches him, and makes me poor indeed”.

This excerpt from Shakespeare’s Othello succinctly captures the essence of the law relating to libel. An act may be libellous if it wrongfully injures another person’s good name and reputation.

A party alleging libel must show that a statement: (i) was defamatory, (ii) referred to him, and (iii) was published in a permanent form to a third party.

Generally, a statement may be libellous if it does any of the following: (i) lowers a person in the estimation of right-thinking members of the society; (ii) exposes a person to hatred, contempt or ridicule; (iii) causes other persons to avoid a person; (iv) discredits a person in his office, trade, profession, or (v) injures the financial credit of a person: Sule v Orisajimi [2019] 10 NWLR (Pt 1681) 513 at 526H-A. Justification, absolute privilege, qualified privilege and fair comment are notable defences to a libel suit.

An extensive analysis of these defences is beyond

the scope of this discourse. Where a libellous statement is true, this would constitute a complete defence to a libel action. Statements made in judicial proceedings are protected by the defence of absolute privilege. For example, a petitioner who files a winding-up petition on the ground of insolvency and advertises same (upon a court’s order), will not be liable for libel even where the court subsequently dismisses the petition for lacking merit. A defamatory newspaper report may be protected by the defence of qualified privilege where, in the absence of malice, the maker had a legal or moral duty to publish the report to a person who had a corresponding interest or duty to receive it.

Allegation of Insolvency The learned authors of Clerk & Lindsell on Torts have expressed the view that “there is nothing defamatory per se in an imputation of insolvency, for a person may lose his money by pure misfortune”. This statement should be viewed with caution. Instructively, in some developed countries, insolvency/bankruptcy is perceived as a phase in life or business which many may journey through.

In contrast, in Nigeria, stigma is a pervasive feature of insolvency/bankruptcy irrespective of the cause of the insolvency/bankruptcy.

Consequently, mere imputation of insolvency may convey a defamatory interpretation. In Agi v FCMB Plc (2013) LPELR-20708 at 53B-54D, Tur JCA quoted the proposition of the learned authors of Gatley on Libel and Slander to the effect that: “it is defamatory to say that any person (whether or not he is a trader or in business and including a corporation) is insolvent…”

Insolvency may be cash flow (inability to pay debts as they fall due) or balance sheet (the total value of assets being less than the total liabilities). Solvency and financial soundness are undeniably qualities which are crucial to proper conduct of business. An imputation of insolvency may carry the defamatory meaning that the alleged insolvent is one unworthy of credit, financially reckless or incapable of prudently managing his/its resources. Typically, such allegation may discourage third parties from dealing with the alleged insolvent for obvious reasons. The foregoing may adversely affect

“Senator Uba alleged that the bank’s action was politically-motivated. He threatened the bank with a libel suit, and demanded an apology in five national dailies and (interestingly) N5billion in damages”

the trade or business operations of the alleged insolvent with consequent damage to his/its the general public, especially those associated with the creditor such as employees, shareholders and financial credit. depositors.

The rationale for publication of names of “delinquent Allegation of Indebtedness An allegation of indebtedness may not be defama- debtors” in national dailies by deposit money banks tory merely because it is untrue. Put differently, (on the instruction of the CBN) has been explained as not all false imputations are defamatory. It has being to “name and shame” recalcitrant debtors. It is been stated that it is not defamatory to merely arguable that such publication is bound to stigmatise input that one owes money because that “is the alleged debtors and also expose them to public to say what is true of every house holder… opprobrium, contempt and ridicule given the perennial on most days of the month”: Wolfenden v problem of non-performing loans in Nigeria’s banking Giles (1892) 2 Br. Col. R at 284. Similarly, sector. This notwithstanding, it appears that even in Winstanley v Hampton [1943] 1 KB where an alleged debtor has been wrongly listed, 319 at 321, Caldecote CJ stated that “a mere banks and newspapers may escape liability on the statement that the plaintiff was indebted to the basis of qualified privilege: Agi v FCMB Plc (supra) defendant could not be held to be defamatory, at pp. 57E-58A. In Mainstreet Bank Ltd v Binna (2016) LPELRapart from some special circumstances”. Again, 48351(SC) the bank wrote to the respondent’s employer these statements should be viewed with caution.

The circumstances in which the imputations are to seek for assistance in recovering a debt owed by made may make the imputations to convey the respondent. In fact, the respondent had fully repaid the debt at the relevant time. The respondent defamatory interpretations. claimed that he was queried by his employer and In Wema Bank v Karunwi [1975] 1 SC 5, Karunwi commenced a libel suit against the his promotions were suspended on account of the bank following the latter’s allegation of indebted- bank’s letter. The Supreme Court upheld the bank’s ness against Karunwi. Although Karunwi had defence of qualified privilege. The Supreme Court held been indebted to the bank in the past, he had that, although the bank’s allegation of indebtedness fully paid his debt long before the date of the was false: (i) the bank had an official duty to inform allegation. The trial judge held that libel had been the respondent's employer of the current position established and awarded damages. Unfortunately of the loan, (ii) the respondent’s employer, having the case report does not provide full details of guaranteed the loan, had a corresponding interest the proceedings at the trial court -- especially to receive the information, and (ii) the bank honestly believed that the respondent had not fully repaid the basis of the trial court’s decision. the loan at the time of writing the letter.

Allegation of delay or refusal in Payment Indirect Allegation of Insolvency or Indebtedness of Debt An untrue allegation of delay in paying, or refusal Indirect imputation of insolvency, indebtedness or to pay, a debt may be libellous. While a delay refusal to pay debts may be libellous. For instance, in paying a debt may either be intentional or it may be defamatory to allege that a dismissal of unintentional, refusal to pay a debt connotes an an insolvency or a debt recovery suit constituted a intentional act. Delay in paying, or refusal to pay, miscarriage of justice. In Lewis v Daily Telegraph a debt could be due to innumerable reasons. [1964] AC 234, an English Court reached the Hence, it would be overly presumptuous to foregoing conclusion in relation to an acquittal for conclude that every imputation of delay in paying, murder. It may be libellous to impute that one has or refusal to pay, a debt is libellous. Accordingly, relied on limitations law to avoid paying a just debt.

It may also be libellous to allege that a party in Stubbs Ltd v Mazure [1920] 66 at 82, Lord Wrenbury (in his dissenting judgment) has absconded without paying its debts. In Stubbs stated that: “a man may refuse or delay to make Ltd v Mazure [supra], a newspaper publication payment of his debts for a variety of reasons erroneously listed Mr. M. as being one against perfectly consistent with solvency and honest whom a decree in absence had been obtained intention, as for instance that he disputes the in a small debt court. The House of Lords held debt, or that he overlooked it, or that he is absent that, by way of innuendo, the publication falsely from the country, or that he is overwhelmed represented that Mr. M. had begun to refuse or with engagements say of a political nature”. delay to make payment of his debts and was not On the other hand, the circumstance in which a person to whom credit should be given. an allegation of delay in paying, or refusal to pay, a debt is made may portray the alleged debtor Conclusion as being recalcitrant and not worthy of being Dealing with a perceived recalcitrant debtor can often given credit: Stubbs Ltd v Mazure [supra]. be extremely galling. Nevertheless, a creditor has Such imputation may discourage members of to tread cautiously to avoid defaming the alleged the public from transacting with the debtor. It debtor and creating a scenario where the hunter may also attract the ire, contempt or ridicule of becomes the hunted.

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COVER

Mrs Hairat Aderinsola Balogun, AG Lagos (2nd left), Lagos State Governor 1984-1986, Air Commodre Gbolahan Mudasiru and other Cabinet Members

Hairat Aderinsola Balogun: Still an Inspiration at 80 Hardly any female Lawyer in Nigeria, can rival her monumental accomplishments. First female Attorney-General of Lagos State, First Chairlady, Body of Benchers, First female General Secretary, Nigerian Bar Association (NBA), first female President and first female member of Rotary Club Lagos. Mrs Hairat Aderinsola Balogun OON remains a beacon of optimism, for all Nigerian Lawyers, both male and female. As she turned 80 on Sunday, October 10th, 2021, she spoke with Onikepo Braithwaite and Jude Igbanoi on the secret of her youthfulness, her chain of successes, and her views on the legal profession and the nation generally

O

n behalf of all the members of our profession, we wish you a Happy 80th birthday Ma. 80 and still looking svelte and healthy. Kindly, share some of your health tips with us Looking good and healthy is mostly a proportion of God’s grace. Also, eating sensibly good food including fruits, vegetables and drinking plenty of water.

For those of us who are female, you are a shining example to us - an example of a woman being able to achieve whatever she sets her mind to, in what is considered to be a man’s world. Thank you Ma. You are First female AG of Lagos State, First Chairlady, Body of Benchers, First female General Secretary, NBA and first female President & first female member of Rotary Club Lagos. How were you able to achieve all

these firsts, especially in a world that, at the time, was not that woman-achiever friendly?

I don’t think I deliberately set out to be a first in any of those positions except as General Secretary of the Bar, because that was an elective post and I just felt that having held a successful World Commonwealth Conference, I had the trappings of someone who would succeed as a Secretary of the NBA so I put my name up for election. As a matter of fact, six of us contested, myself and five men. Four of the men withdrew, and the choice was left between one man and myself, and I was elected. Of the other appointments referred to, the first was political which was as the AttorneyGeneral of Lagos State, and Chairman of the Body of Benchers came about from a nomination by the late great Chief F.R.A. Williams and the Body elected me Chair.

These were appointments/functions for good behaviour and hard work.

“The high incidence of judicial dissatisfaction and conflicting court orders etc, may be due to lack of correct training BEFORE appointment”

With regard to the First female Member and President of the Rotary Club. Again the Club is the oldest in District 9110 Nigeria, and never had a female member since 1960.

I was asked to join, and notwithstanding the long prejudice of exclusion of women as members of that Club, I believe that the Club wanted to carry out a resolution of admission of women in a resounding manner.

After 38 years of your emergence as the first female General Secretary of the NBA, last year Nigerian Lawyers elected another female General Secretary. How did it make you feel? Is it an indication that there is gender bias in the legal profession, and that things may be changing for the better?

We have had female officers in senior positions in the NBA, Treasurer, as a 3rd Vice President which was by election. I do not have the records of how many women sought out for election as General Secretary after me. I do not think enough women Lawyers put themselves up for election as General Secretary. Of course, when our present General Secretary came to inform me that she would vie for the post of General Secretary, I was very delighted and gave her a few suggestions.

Spending over five decades at the Bar is not a privilege easily available to many in any profession. What is the secret of your staying power and

consistency in remaining active in practice?

What is the difference between law practice in your earlier days as a legal practitioner and today? Were some of the ills which seem to be plaguing us now, in existence then, that is, corruption in the profession, poor remuneration for judicial officers, forum shopping, conflicting court orders from courts of concurrent jurisdiction, slow pace of justice administration, overcrowding of prisons etc? What can be done to change this negative narrative?

I think, number one, you have to be interested in your profession as a choice that you have made, not because your father wanted it. Staying power is to be interested in being a Lawyer, so that you transform yourself into the role in every way. You follow the Rules of Ethics closely, and focus on every detail.

Earlier on, people were more interested in the service to the community, than just having a reputation as a Lawyer. Now most people are in it for the profit, not so much for the service but as a passport to other opportunities in the high echelon of society.

Well, in every profession there will be some bad eggs and law is no exception, but, definitely, as corruption has risen high in the country so has it has pervaded the legal profession. I agree that judicial officers should have a higher and better welfare standard of remuneration, because they should be fully committed to their work since they cannot delve into private practice.

The high incidence of judicial dissatisfaction

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T H I S D AY • TUESDAY, OCTOBER 12, 2021

Hairat Aderinsola Balogun: Still an Inspiration at 80 and conflicting court orders etc, may be due to lack of correct training BEFORE appointment. I believe that Judges should be rigorously trained and undergo examinations before they are appointed, so that they understand the essence of case management, necessity to control their staff and coordinate with regard to overcrowding; there should be liaison between the Court and the Prison. A lot of reforms are required to address these issues.

Some are of the view that the Supreme Court is overburdened; that it is not a question of appointing more Justices to the Apex Court, but that there are many appeals, some of which should not lie to the Supreme Court.

Take for example election petitions, that we should revert to the time when only the Presidential election petitions went to the Supreme Court, and all election matters should terminate at the Court of Appeal.

What are your views on this?

They can only appoint the number of Judges as specified under the Law, so they cannot appoint more or less than stipulated. I agree that election petitions should stop at the Court of Appeal.

The Supreme Court should also review its own administration of its cases. Judges in both the Court of Appeal and Supreme Court are not business like; for instance, Lawyers appearing before these courts do not keep to the rules of engagement when their appeals are being heard, and the Justices look on and ignore them and the necessity to control their proceedings with firmness.

You were Chairman Body of Benchers and a Life Bencher. There have been concerns about the quality of new wigs admitted into the profession. What can be done to ensure that the best standards are maintained at the Bar? Do you believe that there should be some mandatory pupillage for new wigs?

If so, for how many years? Some have even suggested that Law should be a second degree like it is in America. Is the Council of Legal Education admitting too many Lawyers in Nigeria? Now, an average of about 8,000 Lawyers are called to the Bar every year; or do you believe that in a population of over 200 million like ours, the number of Lawyers being churned out is nothing to write home about?

Better standards at the Bar can be maintained, by ensuring that everyone abides by the rules of Admission to the Law School which must be closely followed. I suspect that Admission is becoming a victim of politics.

Sometime ago, it was mandatory that Lawyers should not appear in the Supreme Court unless they have been in practice for at least five years; this was abolished, so I think that there should be compulsory pupilage that is enforced to ensure the right calibre of Lawyers appear in the courts especially. Some Lawyers appear in court a day after Call to the Bar. This is unnecessary and ridiculous. Who trained them in Advocacy?

Legal Education in America, is different from the Nigerian System.

Yes. There are far too many Lawyers admitted to the Bar at every call Ceremony, and this is because the Law School does not keep to their own rules. They must review the system of admitting law graduates to the Law School. The system should be overhauled. The method of admission for law students should be to admit only the number accredited for each University, and this can be addressed by sending of the list of the names from the Universities to the Law School as soon as they commence their University course. Students who have failed the Bar Final Examination should never be twice allowed to remain in the school, but be sent away to try another career. Three or more chances is scandalous and disruptive. They choke up the Lecture Halls.

We do not have enough Lawyers for the population, because many of them go to law school for the wrong reasons. They come out of Law School, and go into fashion design and become musicians. and announce that they are Barristers for status symbol.

The ongoing controversy as to whether graduates for the Open University should be admitted into the Law School, is yet to be settled. On which side of the divide are you?

Mrs Hairat Aderinsola Balogun

I will never accept that students from Open University should be admitted to Law School, because there are certain nuances that are connected to the course of study at the Law School that are not available to correspondence or part time University. They are half baked Lawyers.

You once held the view that the Nigerian Law School has outlived its usefulness. What is the basis of your opinion?

Yes, because it is no longer a “practice school”. It is no longer focused on the lectures that will qualify them to be practicing Lawyers. Too many subjects in the curriculum. A thoroughly trained Lawyer, only needs to know how to find more information and read.

As we are enter the twilight of the Buhari administration, how would you say the administration has fared vis-avis its three main campaign promises - fighting corruption and insurgency, and revamping the economy?

You have said it, he has not kept his campaign promises. My main complaints are, where are the Women? Why are 50% of Nigerians kept out of Government. Why are the Youths and Women Professionals, not put to use?

What are your views on restructuring? Many are saying that the VAT case between the Rivers State and the FIRS and the judgement of the Federal High Court giving the States the power to collect their own VAT, is a step in the right direction to fiscal and true Federalism? Do you agree?

Or do you think that the old sharing formula should continue, constitutional or not, in the interest of the States that require that revenue to survive?

I agree that the VAT actions, are commendable. What is the sharing formula?

Let every State develop and control its own Resources.

What is your view about States like Kaduna refusing to pay ransom to kidnappers? Do you agree with the campaign by Sheik Gumi, that bandits etc should be granted amnesty?

“I agree that the VAT actions, are commendable. What is the sharing formula? Let every State develop and control its own Resources…..I agree that Kidnappers should not be encouraged. They are criminals! It is worse than being an accessory to the fact. They are criminals, and they should be so treated”

I agree that Kidnappers should not be encouraged. They are criminals! It is worse than being an accessory to the fact.

They are criminals, and they should be so treated.

You have an Award at the Nigeria Law School for best student with disability? Can you tell us how this came about?

The Law School Prize named the “Hairat Balogun Special Prize”, was instituted by me for handicapped graduates of the Nigerian Law School. Those who are blind, crippled or lame, and yet, struggled through and passed the examinations to be Legal Practitioners. I see them as special people. The prize was instituted about 40 years ago. I have always been interested in the handicapped, and I believe that those who became Lawyers are special, hence, the title of the prize.

Can you say something about your involvement with the attempted movement of the Law School from Lagos to Abuja and attempted gifting of the Lagos Law School. This was an act of Military and executive lawlessness, which you have fought in your career?

The Military Government of General Abacha just issued a military order that the Law School at Victoria Island in Lagos should be closed, and students moved to “Abuja” A meeting of the Body of Benchers were given marching orders to relocate the School, which had been specially built with an auditorium to hold 1,200 students and a dining room to hold 450 – 500 students at each Dinner with a Library, offices, conveniences with spacious grounds for a car park. A plot of land was hastily found in Abuja, precisely in Bwari which is about 80 kilometres from the Centre of Abuja.

At the time these marching orders were given, I was the Chairman of the Body of Benchers. We were also informed that the entire Victoria Island premises had been allocated to a Business Magnate for storage of his merchandise, mostly rice, a portion was allocated to the Institute of Advanced Legal Studies (which at that time was accommodated within the University of Lagos at Akoka), and also to the International Council of Conciliation.

I was horrified. I called a meeting at the Metropolitan Club (It was the prerogative of the Chairman to choose the venue) and the Quorum meetings was nine according to the Law. I was able to secure attendance of at least 17 members, two Chief Judges, two Attorney-Generals, four very senior Lawyers including late Chief Rotimi Williams QC, SAN, and some others, the President of the Nigerian Bar

Association (NBA) and we passed a resolution for court proceedings to restrain the Military Government from total ejection.

I filed a suit and obtained an Interim Injunction against the transfer, and raced to the Law School in my car to serve the Director, Mr. J. K. Jegede who had the keys all marked and was waiting for 10am before allocation of the building to those concerned. I told Mr. Jegede my mission, he looked at those gathered and said “I am a Lawyer, I have to obey the order of Injunction from the Court and cannot hand over any keys to anyone”. He turned, and went back to his office.

The School was under lock and key and students stayed home, and a backlog resulted.

General Obasanjo became President, and I had been member of his think tank, so I wrote him a letter to explain that the Bwari Law School was woefully inadequate, we must open the Victoria Island Law School. I was afraid of defeat, so I begged a very stern and principled colleague, then the Chairman of NBA Lagos (now deceased), and without hesitation he followed me to Abuja.

General Obasanjo said he would order the school to be opened, because my letter also made a case of a backlog of about 3,000 students. So, we begged that two schools would not solve the bigger problem; General Obasanjo asked how many more schools would be needed, and just approved two more making four – Enugu and Kano. The backlog was eliminated, but another problem arose.

We are aware that you are instrumental to the building of the Body of Benchers Complex in Abuja. How was this project conceived and implemented?

With the increase in States to 36, we had 36 Attorney-Generals and Chief Judges, more Divisions of the Court of Appeal, above more Supreme Court Justices, so we could only accommodate our members in the large Court room of the Supreme Court, and Call Dinners were held in a make shift hall (a large canopy), and the Ceremonies of Call in the Abuja International Conference Centre because the Bwari Law School could no longer accommodate the large number of Graduands.

The Body of Benchers took a decision to build its own hall, to accommodate its Secretariat and all functions of the Body of Benchers Committee Meetings and Dinning Room, and a 3,000 capacity Auditorium. I was appointed Chairman of the Building Committee. Many of the original members left the Committee, but to the Glory of God, the Benchers Hall is now completed and hopefully to be commissioned before the end of the year.

It was a tough task chairing the Building Committee, but I had to be steadfast, as practicing in the Legal Profession is considered by me as my most valued possession and asset specially endowed on me by the Almighty.

Thank you Ma.

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TUESDAY, OCTOBER 12, 2021 • T H I S D AY

TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

0809 889 8888 SMS ONLY

Any Floodgate of Senior Advocates of Nigeria? I Don’t Think So (Part 1) Introduction

S

ome years ago, some young Lawyers, led by a very elderly senior member of the Bar, Pa Tunji Gomez (now late; may God rest his kind soul), trenchantly called for the abolition of the title of Senior Advocate of Nigeria (SAN).

Gomez, the fire-eating veteran of many struggles, who led the 1948 strike at King’s College, Lagos, and was in the team of Lawyers that defended late Chief Obafemi Awolowo in the celebrated treasonable trial of 1962, was at the forefront of the “Abolition Movement” that sought to scrap the SAN title. The major grouse of “Abolitionists” as the coalition later termed its members, was that acquiring the SAN rank had become deliberately too circumscribed and mostly restricted only to those they termed the “high and mighty” in the legal profession. Such revolt had also once taken place in England against the title of Queens Counsel (QC) in 2003. It led to its suspension for some time, until great reforms were made before its resumption.

I was one of those who fought valiantly then for the retention of the SAN rank, through the Bar and public debates.

Majority of Lawyers, especially senior Lawyers, mobilised and were able to shoot down the obvious insurrection anchored especially by the younger ones, with Pa Gomez at the forefront.

This, notwithstanding that I was not even a SAN at that time. I knew then and still know now, about the importance of this historic honour.

Mythical and Unfounded Fears There exists this lingering fear (even if pretentiously not expressed openly and publicly), that there are, in existence, too many Senior Advocates of Nigeria (SANs). Predicated on this unproven and fallacious fear, there appears to be a deliberate and sustained pruning down, over the years, of the number of legal practitioners that are elevated to the Inner Bar, even after meeting all the statutory requirements and sundry laid down criteria for such elevation. It is this needless fixation and mindset, that has collectively kept the SANs’ docket brimming with unending applications by numerous disappointed applicants, who continue to apply year after year.

There is also this mythical fear that awarding the revered honour to too many Lawyers may water down its legendary importance, defang it, shred it of its fabled aura and myth; probably cheapen it; and ultimately subject it to charlatanism and quackery. Most respectfully, I do not agree with these views, as attractive as they appear to be on the surface of it. Nor do I entertain these unhealthy fears. Due to no fault of theirs, some legal practitioners find themselves applying, again and again, to acquire the exalted Silk, year after year; some for between five and twelve years. Taking Silk is a legitimate aspiration, as every Lawyer looks forward to wearing the much admired toga of distinction. Medical Doctors go for specialised courses to be made Consultants; whilst in the field of Engineering, practitioners within its rank, study very hard to acquire Fellowships.

My Journey to Taking Silk: Lessons in Humility It took me eight solid years of perspiration, pains, pangs and persistent applications, before my eventual elevation to the Inner Bar in 2009. Of those eight years, I was well qualified for at least six years, having fulfilled all statutory and laid down criteria! At this critical stage, it is believed that one needed godfathers. Some others however, believe that one who has "God the Father" does not need a "godfather''. Significantly, I fell into the latter category of those who needed “God

Senior Advocates of Nigeria the Father”.

Yet, some young men and women whom I had lectured in my youth at the University of Ife (now O.A.U.) in the early 80s, acquired the Silk well before me. Some of them indeed, led me in some cases. I recall that one of them was late Mr Seni Okunloye, a very cerebral and brilliant young man, then of Aare Afe Babalola, SAN’s chambers (May his beautiful soul rest in perfect peace, Amen). He had led me in a murder trial of persons who had futilely attempted to assassinate late celebrated Professor Dora Akunyuli (the then Director-General of NAFDAC), on 26th December, 2003, over her sustained war against fake drug manufacturers and peddlers. The prosecution of the accused persons took place before the then trial Judge, the Hon Justice Ishaq Bello, who has now honourably retired as the Chief Judge of the FCT High Court, Abuja. The Judex had, after the announcement of appearance, used very glowing words for both Seni and I in the open court; - I, for my humility in readily agreeing to be led by, and take notes for my junior at the Bar, who was once-upon-a-time a student of mine at O.A.U; and Seni, for his great hesitation, tentativeness and reluctance to lead me. He did not “rub it in” in leading me, as some juniors who oxymoronically became seniors to their mentors, would readily and arrogantly have done with undisguised éclat and a sense of triumphalism.

As for me, on those occasions that Seni led me, with me taking notes, I had enjoyed every moment of it. This was because I verily believed then and now (like my Weppa- Wanno people would put it in our local adage), that both the hands and legs of a snake remain inside the snake; which is why they do not protrude out of the crawling reptile. The figurative interpretation of this is that a mentor should always be very proud of the success and great strides of his mentee who has surpassed him, since the prayer of every father is that his children should out-perform him.

My Thesis: My Opinion My thesis in this humble intervention is my very Personal Opinion. And, in so doing, I am exercising my Freedom of Speech in putting forward my thoughts herein. I am aware that this thesis obviously calls for a hot debate amongst Lawyers and other stakeholders, for possible fundamental reforms in the mode of awarding and taking this revered title.

“It took me eight solid years of perspiration, pains, pangs and persistent applications, before my eventual elevation to the Inner Bar in 2009. Of those eight years, I was well qualified for at least six years, having fulfilled all statutory and laid down criteria!”

This my personal opinion is well protected

by Section 38(1) of the Constitution of the Federal Republic of Nigeria, 1999 (1999 Constitution), which provides: “Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference”.

This right of mine to exercise my freedom of speech, is also recognised and protected by Article 9 of the African Charter on Human and Peoples Rights (ACHPR); Article 19 of the Universal Declaration of Human Rights (UNDHR), 1948; and, Article 19(2) of the International Covenant on Civil and Political Rights (ICCPR). See JOSEPH MANGTUP DIN v AFRICAN NEWSPAPERS NIGERIA LTD (1990) LPELR-947 (SC).

My thesis is neither a populist one; nor is it designed or intended to stir up needless controversy. It is based purely on present realities of our times which definitely call for introspection and self- evaluation.

My thesis is quite simple: Upon all the various exerting and stringent filtration hurdles being surmounted by an Applicant, the Legal Practitioners Privileges Committee (LPPC) should go ahead and award the rank to EVERY legal practitioner who is deserving of it, after he/she has been finally adjudged to have met all statutory requirements. This includes FULFILLING all laid down criteria; surviving all public petitions; being highly recommended by the Bench and Bar; and being adjudged to be a legal practitioner of nobility and distinction.

There should be no further microscopic picking and choosing from this tested and trusted pool, based on any extraneous unwritten rules and unseen criteria!

The Present Criteria for the Award of SAN The Legal Practitioners Act, LFN, 2004, establishes in its Section 5, “Conferment, etc, of the Rank of Senior Advocate of Nigeria”.

Section 5(2) of the Act provides: “A person shall not be conferred with the rank of Senior Advocate of Nigeria unless he has been qualified to practice as a legal practitioner in Nigeria for not less than ten years and has achieved distinction in the legal profession in such manner as the Committee may, from time to time, determine”.

Section 5(3) identifies this Committee as “The Legal Practitioners’ Privileges Committee” (LPPC). Its composition, as stipulated in section 5(3) is “the Chief Justice of Nigeria, who shall be the Chairman; one Justice of the Supreme Court; the Attorney-General of the Federation; the President of the Court of Appeal; five of the Chief Judges of States; the Chief Judge of the Federal High Court; and, five legal practitioners who are Senior Advocates of Nigeria”.

Apparently aware that the qualifications for the conferment in Section 5(2) appear too bare, and that the phrase, “and has achieved distinction in the legal profession”, may be too hazy to decipher, Section 5(7) empowers the LPPC (with the approval of the Body of Benchers), to “make rules as to the privileges to be accorded Senior Advocates of Nigeria, as to the functions of a legal practitioner, which are not to be performed by a Senior Advocate of Nigeria, as to the mode of appearances before courts by a Senior Advocate of Nigeria, and generally, but without prejudice to the foregoing, for ensuring the dignity of the rank of Senior Advocate of Nigeria”.

It is by virtue of this subsection, that the LPPC has rightly made rules for the conferment of the SAN rank. These rules have always been tinkered with, serially updated, reformed and invariably usually made more stringent with each amendment, so as to prevent a floodgate of SANs. This means that, to become a SAN has figuratively become the case of a camel passing through the eye of a needle. Need this be the case? I humbly, think not. (To be Continued) Serious and Trivial THIS IS NIGERIA AT 61 At 61 we have sea, rivers, sunshine, gas etc, but we depend on imported generators for electricity.

At 61, with three refineries gulping billions of Naira yearly we import all our petroleum products needs.

At 61, we no longer have VON assembling Volkswagen in Lagos.

At 61, PAN that assembles Peugeot in Kaduna is dead.

At 61, ANAMCO producing Mercedes Benz cars and trucks in Anambra is no more.

At 61, we have more churches and mosques than industries that can employ our youths, and we also have more witches and wizards.

At 61, with all the sea and rivers, we import fish and several of our seafood needs.

At 61, our universities and colleges have grown from learning centres to sorting institutions.

At 61, we spend billions to support Farmers and then send cows to destroy the farms.

At 61, our leaders must go abroad for medical treatment.

At 61, our National Assembly works for three months for 35 years pay, while our civil servants work for 35years and get 3 years pay (except of course you can steal).

At 61, a college girl can have a phone worth 300k and be living in a shanty with her parents.

This list is endless.You can add yours.

Let's celebrate our dependent Day at 61.

There was a country! INDEED!!!

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T H I S D AY • TUESDAY, OCTOBER 12, 2021

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T H I S D AY ˾ TUESDAY, OCTOBER 12, 2021

BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

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FG Cuts JV Cash Call Arrears by Additional $300m, Outstanding Balance Slumps to $1.163bn

Emmanuel Addeh in Abuja The federal government through the Nigerian National Petroleum Corporation (NNPC) has made an additional payment totalling $300,964,270 out of the Joint Venture (JV) cash call arrears owed some International Oil Companies (IOCs) as at August, 2021, THISDAY has learnt.

An analysis of documents

presented by the NNPC to the Federation Account Allocation Committee (FAAC), for September indicated that the outstanding balance of $1,464, 796,384 has now been reduced to $1,163, 832,114.

The latest figures further showed that like Mobil Producing, Nigeria (MPN), whose $833.7 million had earlier been fully paid off, the NNPC has also succeeded in offsetting the arrears owed Chevron Nigeria

Limited, which amounted to $1.09 billion in total.

With the new payments, the total cash call arrears paid by the government since 2016 now stands at $3.525 billion out of the initial negotiated sum of $4.689 billion.

In August, THISDAY had reported that the government was able to pay $266.141 million out of an outstanding balance of $1.730 billion of the JV cash calls between May

2020 and May 2021.

At the time, a review of documents presented by the national oil company’s to FAAC within the period further showed that there was a balance of about $1.464 billion after the last payment, which was made three months earlier.

By definition, cash calls are requests sent by JV operators to nonoperating partners for payment in the light of anticipated future capital,

operating expenditures or need of additional capital contributions.

The NNPC, in 2016, signed a cash call repayment agreement with its JV partners to defray cash-call arrears within a period of five years after many years of its indebtedness to its partners as it consistently failed to meet up with its indebtedness.

However, the documents showed that while total negotiated debt in August 2020 stood at $4.689 billion

with total payment of $3.525 billion as of the end of the month, an outstanding sum of $1.163 billion is now left as balance.

It indicated that total payment to Shell Petroleum Development Company (SPDC) since the federal government began offsetting the arrears now stands at $680.6 million, with an outstanding of $691.905, Continued on page 26

Onyema: Why NGX Cannot Fund Energy Projects Alone, Over $400bn Needed to Boost Power Sector Emmanuel Addeh in Abuja The Nigerian Exchange Group (NGX) cannot singlehandedly fund energy projects in the country because of the huge capital needs of the sector, Managing Director/Chief Executive Officer of the group, Mr Oscar Onyema, has said.

Speaking in Abuja at the Seplat Energy Summit, Onyema noted that there was need for collaboration

across-the-board, stating that in the power sector alone, over $400 billion is needed to supply power to 25 million Nigerian homes.

Onyema noted that while the stock exchange remains very strong and innovative, it is impossible to finance the huge projects in Nigeria, pointing out that its partnership with the Luxembourg exchange on green bonds, would begin to bear fruits soon.

“To embark on the energy transition, you need resources. I will throw up one of the statistics.

The power ministry says we need about $400 billion in order to power 25 million households within that period, which is 30 years.

“And we are talking about just power. A lot of the speakers here have spoken about other uses of energy, so we are talking about massive amount of money. So, if

FOOD NAME OF COMMODITY

MAIZE

LOCATION

PRICE

100KG JIGAWA

N9000

100KG ENUGU

N24000

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N15000

100KG

ABIA

N14000

50KG

LAGOS

N13500

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you are going to achieve it, you need financing.

“The Nigerian capital market while very deep and innovative is not going to be able to do that financing by itself. So, we need to come up with really very innovative ways to achieve that kind of financing, ”he noted.

The Nigerian Stock Exchange, he stated, has worked actively with Seplat energy over the years,

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stressing that the company had raised capital its platform on the debt side and on the equity side in partnership with the London Stock Exchange (LSE).

The NGX group helmsman explained that in 2020 alone, about $750 billion was raised for sustainability as well as social green bonds, revealing that this year; it is estimated to be about $1 trillion.

“So, there are funds out there

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that are targeted at these types of investments, and we just need to tap into it. That is why the Nigerian exchange platform has partnered with the Luxembourg Stock Exchange to jointly lease green bonds.

“The Luxembourg Stock Exchange is the largest platform for green bonds in the world and Continued on page 26

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TUESDAY, OCTOBER 12, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

FG CUTS JV CASH CALL ARREARS BY ADDITIONAL $300M, OUTSTANDING BALANCE SLUMPS TO $1.163BN

while the entire debt of $833.751 billion owed Mobil Nigeria had been cleared.

Chevron Nigeria Limited, which was initially owed $1.097 billion, has also been fully paid, Total is being owed $199.241 million, while Agip has an outstanding sum of $272.685 million yet to be paid.

Earlier in March, the data

released by the NNPC indicated that a total of $3.118 billion cash call debts had been paid the five major international oil companies (IOCs), leaving an outstanding debt of $1.570 billion.

In December 2016, the ministry of petroleum resources negotiated a discount with the IOCs, comprising SPDC, Total, Mobil, Chevron

and Agip from about $5.1 billion down to $4.68 billion and had since then continued to reduce the debt payments in installments.

SPDC was initially owed a negotiated debt of about $1.37 billion, Total was owed $610.972 million, NAOC had a negotiated debt of $774.66, while Chevron’s debt at the time was $1.097 billion.

As of January 31, 2021, the NNPC had stated that its debt obligations to SPDC, CNL, TEPNG and NAOC respectively stood at $917.2 million, $55.4 million, $246.3 million and $351.9 million.

The NNPC further explained that in the case of SPDC, repayment was from the price balance distribution on Project Santolina; while in the

case of CNL, repayment was from price balance distribution on Projects Cheetah and Falcon.

“NNPC has fully repaid its cash call arrears to MPN and all incremental barrels have reverted to base,” the NNPC stated.

The cash call arrangements, under which NNPC had to pay for its 55 per cent to 60 per cent share of

investment in the upstream joint ventures, had been in place for over 40 years before it was restructured.

The huge payment of over $300 million in one tranche, indicates that the rising prices of oil which is now above $80 per barrel has also triggered more liquidity in the operations of the national oil company.

Moody’s: Oil Industry Must Spend $542bn to Avoid Supply Shock Emmanuel Addeh in Abuja Moody’s, a renowned rating agency has said that global annual upstream spending needs to increase by as much as 54 per cent to $542 billion if the oil market is to avert the next supply shortage shock.

In its latest report on the oil and gas industry, Moody’s noted that

most producers continue to stick to conservative capital budgets for 2022, but slight growth can be expected as commodity prices jump.

Currently, oil Exploration and Production (E&P) companies around the world are underinvesting in supply as they continue to keep capital expenditure (capex) low after the 2020 price crash and crisis, Moody’s notes.

Annual upstream investment crashed by around 30 per cent in 2020 and has only slightly recovered since, according to the credit rating agency.

“Our analysis demonstrates that upstream companies will need to increase their spending considerably for the medium term to fully replace reserves and avoid declines in future

production,” Moody’s Vice President Sajjad Alam said in a statement.

This year, spending is expected at $352 billion, while medium-term annual investment has to grow to $542 billion to keep with the demand returning from the pandemic slump, according to the report.

“The industry will need to spend significantly more, especially if oil and

gas demand keeps climbing beyond pre-pandemic levels through 2025,” Moody’s analysts wrote in the report.

Underinvestment in upstream projects is a major wild card for oil markets going forward, analysts and industry officials say.

The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to

return to pre-COVID levels as soon as the end of 2021 or early 2022, Greg Hill, president of U.S. oil producer Hess Corp, said.

Last year, global upstream investment sank to a 15-year low of $350 billion, down from around $600 billion before the pandemic, according to estimates by Wood Mackenzie from earlier this year.

A’Ibom Signs $600m Agreement with Korean Firm to Establish Industrial Park Okon Bassey in Uyo Akwa Ibom State Government has sealed a deal with a Korean based Company, Kumbit Global Limited to establish an Ibom Industrial Park in the state worth $600 million.

The industrial park is to be sited in Nung Ikot Obiodo community,

Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

Oruk Anam Local Government Area of the state.

The signing of the agreement took place in the office of the Secretary to the Akwa Ibom State Government, Government House, Uyo. The Chairman, Akwa Ibom Investment Corporation (AKICORP), Dr. Elijah Akpan, hinted that the $600 million project will be driven by Public Private Partnership (PPP) arrangement.

The state government, he said, has donated 100 hectares of land and will commence payment of compensation to the benefitting community before take off of the project.

He disclosed that about 23 companies are expected in the

industrial park through PPP arrangement.

“We own 10%, the community owns 2% making it 12% for Akwa Ibom State and the project is worth $600 Million. The State Government has donated Special Purpose Vehicle (SPV) and 100 hectares of land for the project while payment of compensation will soon commence and Kumbit will soon move to site as a result of agreement that has been signed.’’ he stated.

Akpan said the Ibom Industrial Park project has real estate integrated into its design to create affordable housing in the state, saying on completion the park will create more than 1,000 direct

PALM OIL

SIZE

STATE

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25CL LAGOS N20,000-N25000 25CL

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N21,000-24,000

ment Banking, Middle East and Africa, Citibank, Miguel Azevedo, described the energy transition as it affects Nigeria as a blessing in disguise, saying it will change the energy model of the country, which has always been oil-driven.

“It will force even the development of the generation of primarily solar, it will create mini-grids and I think this will allow for a democratisation of energy and power in particular.

“And so, power will be made available to the people more because the new technologies will allow for that and then it will allow for change in the economic model.

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IMO

N21,000–N24,500

SIZE

STATE

PRICE

100KG ABUJA N23,000–N25,000 50KG

OYO

N22,000-N25,000

PLATEAU N23,500-N25,000 (JOS)

50KG KWARA N24,000–N27,000 50KG

LAGOS N23,000–N26,500

50KG RIVERS N23,000–N26,500

25CL

EDO

25CL ABUJA

N17,000–N20,000 N19500- N25000

“The availability of power at the unit level, rather than having the necessity of pipelines or transmission grids, will allow for massive industrial development, massive job creation and development of economic and industry.

“Nigeria and many other countries have their tax system very much based on taxing the commodities that are produced in the country. This will obviously have an impact there. And so, it will force the development of a new tax system that will be more either value or income-based and will allow for a formalisation of the taxing system,” he argued.

COMMODITIES

50KG

25CL IBADAN N18,000-N22,000 25CL

beverages and other household items to redefine the economy of the state and would employ about 200,000 people across the country.

John said based on the feasibility study conducted by the Korean company, a general hospital will be established in the state as part of its corporate social responsibility, while scholarships will be introduced for the benefit of the Akwa Ibom indigenes. ‘’It has been a long journey and God has kept us for this purpose, I want to thank Governor Udom Emmanuel for making this project to materialize. It had been a turbulent time but what I am telling Akwa Ibom people is that this project

which we have signed an agreement today will be of benefit to them all.

“This park coming to Akwa Ibom state will employ over 200,000 Nigerians. The park will attract third party industries that will produce for the successful completion of activities in the Industrial Park. ‘’Kumbit Global is bringing the first General Hospital to Nigeria, we are bringing Education, Koreans are bringing their format of Education, any Nigerian or Akwa Ibom person who wants such can enroll their children in the school as we will tap from the technology transfer.

We will also bring in scholarship to the state based on merit”, he assured.

ONYEMA: WHY NGX CANNOT FUND ENERGY PROJECTS ALONE, OVER $400BN NEEDED TO BOOST POWER SECTOR the idea is to allow corporates from Nigeria that are looking to raise clean capital to actually access global platforms and it is already yielding fruits,” he noted.

According to him, Access bank has already raised funding on both platforms, while the Nigerian government had also partnered with the NGX to raise green bonds.

“They have already done two and they are preparing to do the third one. So, these are just examples of the kind of innovative thinking that we need to do to finance these types of deep capital that is required,” he noted.

Also speaking, Head of Invest-

FOOD NAME OF COMMODITY

employment with a value chain benefit of 10,000 to the people.

The AKICORP boss lauded Governor Udom Emmanuel for creating a conducive environment and ease of doing business in the state, stressing that the infrastructural development in the state has made it a destination point.

Speaking for the Kumbit Global Limited, the Group Managing Director, Engr. Anietie John, commended Governor Emmanuel for his visionary strides in industrialising the state.

He said the Ibom Industrial Park will have 23 industries producing 300 product lines of building materials, pharmaceuticals, automobiles,

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COCOA

EDO

N17,000–N20,000

need more energy, but you need cleaner energy and that goes for fossil fuels as well. So we spend a lot of time trying to reduce the emissions of our own activities, and obviously investing in renewables.

“And I really believe that Nigeria has a great opportunity to continue to develop oil needs as quickly as possible. Let’s not wait forever to develop resources.

And likewise, let’s make use of the gas that we have in Nigeria as well for local consumption and for export to really get the benefit from those natural resources,” he said.

T O D AY SIZE

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PRICE

N740,000

1 TON ONDO – N760,000 1 TON OSUN 1 TON

EDO

N730,000 – N750,000 N720,000 – N740,000

N700,000 1 TON CROSS – N720,000 RIVER

50KG SOKOTO N11,500–N13,000 50KG

According to him, this will free more revenues to finance the development of the country, create stronger accountability of governments since people will start paying the taxes.

Managing Director, TotalEnergies E&P, Nigeria Limited, Mike Sangster, in his intervention, said by 2050 oil demand, may fall roughly to half of what it is today, but that gas demand would continue to increase.

He added that Nigeria need to develop its fossil fuels as quickly as possible and in the long run work to make the fuels cleaner.

“Our philosophy is that you

1 TON

AKURE SOUTH, ONDO

N730,000 — N755,000

NAME OF COMMODITY

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PRICE

ONIONS

100KG

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N25,000

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N10,000

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N27,000

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N12,000

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N21,000

100KG LAGOS

N25,000

100KG ENUGU

N15,000

100KG

N29,000

ABIA

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T H I S D AY ˾ TUESDAY, OCTOBER 12, 2021

BUSINESSWORLD

INDUSTRY

What 2022 Budget Proposal Has for Manufacturers The operators in the Nigerian manufacturing sector and leaders of the organized private sector believed that the 2022 proposed budget came with doses of highs and lows, writes Dike Onwuamaeze NIGERIA GDP FROM MANUFACTURING 2021

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in some, lose some. This is an apt description of what the proposed 2022 budget offered to manufacturers and other players in the real sector of the Nigerian economy. Some operators in this sector believed that what the budget gave with one hand, it took away with the other hand. According to them, the increased capital project would enhance infrastructure provision that would encourage manufacturing while the huge budget deficit meant more taxations and levies on manufacturers and other businesses.

The budget, as proposed by President Muhammadu Buhari, and presented to the National Assembly on Thursday, October 7, contained N16.39 trillion expenditure plan, which is 25 percent higher than the 2021 budget estimate.

The budget’s core assumptions are as follows: Oil price benchmark of $57 per barrel; Oil production of 1.88 million barrels per day; Exchange rate of N410.15 per dollar; GDP growth rate of 4.2 percent and inflation rate of 13 per cent.

For the Director General of the Manufacturers Association of Nigeria (MAN) Mr. Segun AjayiKadir, who reviewed the proposed budget from the manufacturers’ perspectives, said that it came with very few highs and a number of lows.

The highs, according to Ajayi-Kadir, include the proposed capital expenditure of N5.35 trillion, which resonated well with the MAN’s cry for the need to prioritise infrastructure development that would lay the foundation for Nigeria’s sustainable economic development.

He said: “In summary, the highs principally center around the proposed aggregate capital expenditure of N5.35 trillion is 32.64 per cent of the total expenditure as against the N4.37 trillion and 32.2 per cent respectively of 2021 budget.

“This means that the sum allotted to capital expenditure will increase appreciably in 2022, particularly for the building materials and construction segment that have higher multiplier effects on the manufacturing sector.

“No doubt, this buttresses the fact that government intends to continue to upscale the development of infrastructure across the country.

This is a development that MAN considers laudable, because it resonates with our annual advocacy submission to the Government on the need to prioritize infrastructure development for sustainable economic growth. It will also increase production in the real sector of the economy.”

Nevertheless, the director general of MAN also observed that the budget as proposed has its lows that would have a telling effect on the manufacturing sector.

He identified the top three low points of the proposed 2022 budget as the proposed excise duty on carbonated drinks; the likelihood of increased drive for collection of taxes and levies, which might entrench multiple taxation and untoward means of collection all in the bid to increase non-oil revenue generation that would cover the deficit side of the proposed budget, and thirdly, the suspicion that the highly ambitious assumption of 13 per cent inflation rate in the budget might not hold water, especially when the prevailing inflation rate as at August 2021 stood at 17.01 per cent.

Ajayi-Kadir said: “The proposed excise duty on carbonated drinks means further strangulation of the manufacturing sector that is already burdened with multiplicity of taxes/levies and fees. The industries operating in this segment are already operating with extremely low margins, so the

planned excise will push most of them over the edge. We risk an unprecedented buildup of unplanned inventory, downsizing of labour force and factory closures. All these would vitiate the revenue expectations of governments and therefore counterproductive.”

He argued further that the increased drive for collection of taxes and levies would border mostly on multiplicity of taxes and untoward means of collecting them.

He said: “The current unbridled avalanche of taxes, fees and levies from the three tiers of government and their overzealous regulatory agencies may be compounded. Most often this worrisome scenarios is contrasted with little attention to supporting infrastructure and facilitation of the productive sector.”

He added that “the highly ambitious assumption of 13 per cent inflation rate, when the prevailing rate as at August 2021 stood at 17.01 per cent and government is yet to address the incessant crises between the herdsmen and famers and other insecurity conditions that contributes significantly to food scarcity that evidently fuel inflation in the country.”

The director general said that government shuld make deliberate effort to facilitate reforms that would reduce the high recurrent expenditures of government.

The MAN also stated that apart from the envisaged impact of budgetary allocations on the manufacturing sector, there is equally the need to support the implementation of the proposed budget with a more production centric monetary policy that would crash interest rate to guarantee positive results for manufacturers and the economy in general.

He pointed out that “the transmission mechanism of seamless access to long term funds at affordable rate will naturally guarantee expansion in manufacturing investment; ensure full utilisation of idle capacities, increase capacity utilisation, upscale manufacturing output and improve its contribution to the gross domestic product (GDP).”

The MAN also expected that the government would give priority consideration to the following measures while it awaits the breakdown and the appropriation of the proposed budget.

The manufacturers’ association, therefore, called for “full and timeous implementation of the budget, when passed, to stimulate the much-needed growth.” It also expected deliberate actions and measures that would stimulate “production through improved government patronage of made in Nigeria products, being the largest spender in the economy.”

It also demanded for policy directives that would ensure a synergy between monetary and fiscal policy to guarantee better economic performance and inclusive growth.

Ajayi-Kadir also asked government to give attention to the following items of concern to the operators of the real sector of the economy.

These, according to him, include the need to “prioritise the allocation of foreign exchange to the manufacturing sector for the importation of vital raw materials, machine and spares that are not available locally; prioritise the

utilisation of locally produced construction materials in the current/ongoing upgrade of infrastructure across the country; complement the current trend and performance of vital macroeconomic indicators with deliberate effort at taming inflation to maintain price stability in order to meet the expectations of the proposed budget.”

Others areas of attention, according to MAN, also include the initiation of “additional tax reforms and tax administration measures that will widen the tax net to compel the non-tax-paying individuals/firms operating to pay tax and thereby increase tax revenue.

“Reduce government recurrent expenditures to cut fiscal deficit, borrowings and associated service charges and the redoubling of efforts at addressing the insecurity situation in the country to improve food production and supply and ensure unfettered business activities. This will facilitate the attainment of the envisaged economic growth.”

The manufacturers stated that the above recommendations rested principally “on our firm believe that the intentions and provisions of the proposed budget alone cannot guarantee success. In order to make sufficient and significant impact on the economy, they must be matched by supporting and complimentary policies, effective and timeous implementation, and regular monitoring and performance evaluation.”

Speaking in the same vein, the Founder and Chief Executive Officer of the Centre for Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, urged the federal government to refrain from imposing new excise duties on the manufacturing sector. The sector, according to Yusuf, is currently grappling with too many macroeconomic and structural challenges already.

He also observed that the assumptions the proposed budget was based on were generally realistic but for the exchange rate and oil output assumptions, which did not reflect the current realities on ground.

He observed that the major worry around the 2022 budget would be fiscal sustainability, especially in the context of recent trends of weak revenue performance that had consistently fallen significantly below targets.

“The 2022 fiscal year would be characterised by high risk that the deficit might exceed the budgeted threshold, debt sustainability challenge, retention of fuel subsidy, mounting recurrent expenditure and the continuation of central bank’s financing of fiscal deficit, which has serious consequences for inflation because of the profound impact on money supply grow.

“The way forward for the economy in the light of the budget rigidities is to ensure that the security problems are fixed to create the environment for increased real sector activities; review the foreign exchange policy regime to reduce distortions, eliminate arbitrage opportunities, minimise uncertainties, reduce exchange rate volatility and mitigate investment risks and aligning the CBN financing of deficit strictly to the provisions of the CBN Act,” Yusuf said, adding that the government should demonstrate the political will to deal with the crisis at the Lagos ports.

1. Looking at the FGN’s revenue performance, as of 30th Jun 2021, FGN’s retained

revenue was N2.23 trillion (67% of the N3.99 trillion pro-rated budget). The shortfall of 33% is attributable to the underperformance of both oil and some non-oil revenue sources such as the Electronic Money Transfer Levy (EMTL), Recoveries & Fines, etc. Government must explore cheaper alternative sources of financing away from debt.

In the revised budget as passed by the National Assembly, the projected retained revenue was raised to N10.3trillion against the N10.13trillion proposed in the revised 2022 budget. This may be too ambitious when we look at the budgeted revenue performance for 2021.

Reacting to the budget proposal, the Lagos Chamber of Commerce and Industry (LCCI), expressed concern that of the items for which more funding would be sought are recurrent expenditures.

The LCCI said: “We understand the government may be under pressure regarding these recurrent expenses, but it is not best practice to borrow for consumption.

“Since revenue fundamentals are currently weak, the ideal thing is to reduce the cost of borrowing, specifically, the high deficit and debt cost projected in the revised federal budget.

The Federal Government should focus more on non-interest asset-linked securities as these unlock revenue and growth in the long term. The Federal Government should allow the private sector to invest in some infrastructure projects that are commercially viable to generate revenue to fund her budget instead of debt financing.”

It stated that current push for more revenue should not compel the government owned businesses (GOEs) to undermine the health of the business environment in the pursuit of revenue targets.

It also welcomed the government’s commitment to supervise the spending of the GOEs to curtail any form of wasteful spending. “There should be a strong corporate governance framework and strict monitoring mechanisms to supervise spending by the GOEs restricting them to the approved 50 percent spending limit from their generated revenues,” the LCCI said.

Similarly, the National President of the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr. J.C. Udeagbala,said that the association worried by the upward swing in the borrowing to finance the budget and emphasized the need to watch Nigeria’s rising debt profile.

Udeagbala said that there must be caution in what component of the budget that would be financed since “a sustainable debt profile requires that borrowed funds must be used for critical infrastructure projects that will enable payback of these loans.”

He also drew government’s attention to the boom and burst cycle of international crude oil prices, which could not be relied upon as firm and assured sources of revenue.

“Rather there must be continued efforts to diversify the economy, improve significantly on nonoil revenue and deliver on upgrade of infrastructure and improvement in security situation. This is to enable increase in productive activities especially in the Agric sector.

“This budget has been described as “Budget of Economic Growth and Sustainability.” We, however, hope that in its implementation it will be a Budget of Inclusive Economic Growth” in which no one will be left behind especially the poor segment of our population,” Udeagbala said.

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BUSINESSWORLD

ENERGY

Power Supply: Nigerians Await Buhari’s Magic Wand With roughly 19 months left of the current administration’s eight-year tenure, Emmanuel Addeh asks whether any tangible results can be realised in the power sector, given that nearly nothing has changed in more than six years.

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ast month, President Muhammadu Buhari, in complete deviation from what was almost becoming the norm of never firing his aides, officially removed the erstwhile Minister of Power, Mr Sale Mamman, said to have had one of the most uninspiring runs superintending over the country’s problematic sector. While a number of Nigerians applauded that singular action, not much hope has been raised by Mamman’s replacement, Abubakar Aliyu, who in his first public statement as head of the ministry admitted to not knowing much about the sector, save to rely on the expertise of the same big titles in the ministry who have failed to provide Nigerians reliable power supply in decades.

“I am not an electrical engineer or having anything to do with power in the past but I am an engineer and I know when something is going wrong I will detect it. I will not allow it and I will try my best to make amends...

“Don’t look at me as the minister of power that I have come to make magic. No, I am not a magician,” he told his subordinates on his first day at work.

To be fair, even before the utterance, literally interpreted as “don’t expect much from me”, many Nigerians actually never actually had their hopes too high, given that the sector has demystified even some of the country’s easily most hands-on and brilliant administrators.

SIX DECADES OF DARKNESS

A country of over 200 million people, Nigeria is endowed with every resources needed to generate power, including large gas deposits, hydro, solar and even wind sources.

But the country still relies on roughly 3,500 to 4,000mw of electricity for its huge population, despite the often mouthed commitment by successive administrations, including the current one to give the country reliable supply.

In all those years, it would appear to be all motion, no movement as Nigeria is yet to come close to attaining any level of sufficiency in its pursuit of reliable power for its people and their businesses.

Indeed, a quick flashback beyond Nigeria’s independence will show that the country had its first semblance of electricity in 1886, when it had its first two power generators installed in the colony of Lagos, followed by the first electric utility company, known as the Nigerian Electricity Supply Company (NESC), which was established in 1929.

This was again followed in 1951 by an Act of Parliament establishing the Electricity Corporation of Nigeria (ECN), while by 1962, the Niger Dams Authority (NDA) was also established for the development of hydroelectric power.

This again underwent a major change in 1972 when the ECN and NDA were merged to create the National Electric Power Authority (NEPA), which before it was effectively liquidated, also failed to satisfy the needs of the country.

With the failure of NEPA, which was fully controlled by the government, the need to unburden the sector and allow the private sector players take part arose.

In 2001, the so-called reform of the electricity sector began with the promulgation of the National Electric Power Policy (NEPC), which had as its goal the establishment of an efficient electricity market in Nigeria.

In 2005 the Electric Power Sector Reform (EPSR) Act was enacted and the Nigerian Electricity Regulatory

Commission (NERC) was established as an independent regulatory body for the electricity industry in Nigeria.

In addition, the Power Holding Company of Nigeria (PHCN) was formed as a transitional corporation that comprises the 18 successor companies (six-generation companies, 11 distribution companies and one transmission company) created from NEPA, culminating in the privatisation programme of 2013.

Yet despite all these seeming motions, there’s been hardly any movement as Nigerians hardly get 15 per cent of their daily energy supply needs till date.

SAD REALITY

Typically, only 3,500 MW to 5,000 MW of power is available for onward transmission to the final consumer daily, with the extensive losses attributable to weak infrastructure and a very high occurrence of significant technical and non-technical issues through the power supply value chain.

Nigeria has one of the lowest annual consumption of electricity per capita, estimated at less than 150 kWh, giving rise to the use of alternatives like standby generators. With this reality, any claim of commitment to climate change will remain a mirage.

Although generally regarded as the segment with the highest prospect, with installed generation approximately 13,000MW, generation plants still suffer from recurrent challenges such as maintenance and repair requirements, trips, faults, and leakages, that make them unavailable for evacuation to the national grid.

At the transmission level, at its best, the Transmission Company of Nigeria (TCN) has the capacity to wheel just about 5,300MW of power or thereabout.

It’s contentious which part is more problematic between transmission and distribution, but data shows that a substantial percentage of technical losses before electricity reaches the final consumer is attributable to the power distributors..

The World Bank estimates that the country would need to connect between 500,000 to 800,000 new households to electricity sources every year between now and 2030 to be able to achieve her targets of universal access to electricity for its citizens. But even achieving that remains a mirage.

PAYING MORE FOR DARKNESS

Between 2015 when the current administration took over government and 2019 when its first tenure ended, electricity tariffs increased by more than 300 per cent, even though electricity supply has remained typically poor.

In those four years, according to THISDAY checks, tariff climbed from N12 kWh to about N32kWh, further going up in 2020 to a conservative or lower range of N50per unit for some residential areas.

Although, Nigerians have not seen improved power supply despite the geometric rise in prices, industry players and government continue to insist that what Nigeria requires is a cost-reflective tariff.

The recently launched Service-based Tarrif (SBT) has also faltered. The Nigerian Electricity Regulatory Commission (NERC) neither has the capacity nor the technology to determine how many hours of electricity each household gets.

Yet, billing is based on the number of hours of supply, thereby leaving Nigerians short-changed.

But NERC insists that pricing is one major issue that has to be dealt with in the sector before any meaningful progress can be made, stating that with good pricing, investments will naturally flow into the sector.

“This is because investment follows certainty.

Nobody will invest where he is going to make a loss. But where you can do your projections and see that there is a return, people will invest.

“It is just pure economics and it is the same economics that applies to every business... the issue is that price drives investment. And when you attain the appropriate level of investments and achieve the economies of scale, price starts to come down. And you see in every sector this happens; it happened in telecoms,” Dafe Akpeneye, NERC’s Commissioner, Legal, Monitoring and Compliance, recently argued.

DECENTRALISING THE GRID

Nigeria continues to operate a central grid system, which has obviously failed to serve the purpose for which it was set up.

An industry expert and Chairman of Momas Electricity Meter Manufacturing Company (MEMMCOL), Mr. Kola Balogun, while setting an agenda for the new minister advised him to reposition the power sector by decentralising the national grid, faulting the single grid system currently in place in the country.

“Why do we continue to have a single grid that binds all of us together? We need to separate it in such a way that any state or local government can go into power generation and distribution to people within its area.

“If the power being generated is not enough, they can even buy from the national grid. So, power generation and distribution should be removed from the exclusive list and moved to the concurrent List.

“That is why we are advocating for franchising, so that Nigerians will enjoy more supply. The entire process should be done in a way that investors are able to get back their funds while their customers will get fair bills in line with global best practices,” he argued.

Balogun noted that more investment was needed in the sector to upgrade feeders, transformers and substations across the country.

“If you are given an area to manage and you are bringing your investment, you need to recoup your investment and make profit on your investment.

Power sector requires long term investments and loans should be considered for investors in the sector bearing that in mind,” he stated.

Balogun also called for an effective regulation of the sector, stressing that the NERC needs to be strengthened to carry out its statutory responsibilities.

“NERC must be given the power to sack and appoint heads of power generation, transmission and distribution companies if the need arises just the way CBN is doing in the banking sector.

“There is an element of discipline that is required for us in the sector in order to have a way forward, and this is currently missing,” Balogun added.

Erratic privatisation Research and consulting firm, Agusto & Co., believes that since the privatisation exercise com-

menced in 2013, the Nigerian Electric Power Industry (NESI) has remained fraught with many of the same challenges ranging from unreflective tariffs to high loss levels, obsolete infrastructure, weak policy implementation and gas shortages.

“All of these have culminated in weak and erratic power supply and a dependence on self-generation by many businesses and households. Furthermore, electricity distribution in Nigeria remains plagued by high technical, operational and commercial inefficiencies,” the research firm said.

To truly achieve the objectives of privatisation, Agusto believes that reforms needed to be accompanied by a strong and enabling regulatory environment.

In addition, it stressed that improved access to finance, efficiency in billing and metering as well as consistent and secure gas supply were vital to reap the benefits of privatization in the long run.

SIEMENS DEAL: A VIABLE PATHWAY

For now, given the very limited time the current government is left with, it’s also impracticable to begin new projects. With the noise that heralded the signing of a deal with Siemens AG of Germany last year, one would have thought that government would keep the same energy in the execution of the agreement.

However, enthusiasm has long waned.

The agreement which was meant to be implemented in phases was expected to see the upgrading of 105 power substations and the construction of 70 new ones.

Under the deal for which the government had made an initial N8.6 billion commitment, about 3,765 distribution transformers will be installed and 5,109 km distribution lines will be built with a potential generation capacity of over 13,000 mw as opposed to the current transmission of 4,500mw.

In phase one, 7gw was expected to be achieved between then and end of 2021, with the upgrading of transmission and distribution of the TCN and Distribution Companies (Discos) expected to contribute an additional 2gw.

For phase two, the government said that 11gw will be achieved between 2021-2023, with full use of existing generation and last mile distribution capacity, while the phase three will see the achievement of 25gw between 2023-2025 with appropriate upgrades and expansion in generation, transmission and distribution.

But since the Federal Executive Council (FEC) approved the payment of €15.21 million (N6,940,081,465.20) offshore and N1.708 billion onshore as part of Nigeria’s counterpart funding for the power deal, not much has been heard.

The deal also involves Siemens’ support for the regulator, the Nigerian Electricity Regulatory Commission (NERC), towards improving metering in the electricity industry in the country.

The project, touted to be a game-changer, has not seen any practical work as the federal government and the German firm have seemingly disagreed over the local content portion of the agreement while there have been delays in funding.

Chief Executive Officer of Siemens Energy Limited, Mr Seun Suleiman, speaking recently, however argued that the programme has not flopped, saying that the pre-engineering phase was ongoing and would be completed soon.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

29

T H I S D AY ˾ TUESDAY, OCTOBER 12, 2021

BUSINESSWORLD

AGRICULTURE

Looking Inwards to Bridge Importation of Castor Oil Nigeria’s cosmetic industry is heavily dependent on the importation of castor oil. Presently, the importation of castor oil and its derivatives is worth over $150 million on annual basis according to the Castor Growers, Processors and Marketers Association of Nigeria (CASGPMAN). Gilbert Ekugbe reports on the need to support local processors to maximise the nation’s unexploited castor seed potentials.

C

astor is a plant majorly grown in the northern part of the Nigeria and can be grown annually or perennially depending on the weather and type of seeds planted. Apart from being a key ingredient for the cosmetic and paint industry, castor seeds without its hull are used for birth control, constipation, leprosy and syphilis. It could also be used as a laxative for constipation to start labour in pregnancy and to start the flow of breast milk.

Although, scientists warn that its hull contains a deadly poison called ricin. The demand for castor oil because of its industrial applications is quite huge, hence the need for economic managers to prioritise policies geared towards encouraging Nigerian farmers to begin the massive cultivation of castor seeds to serve as raw materials for local processors to bridge importation of castor oil.

Castor oil is a basic ingredient also used in the production of nylon, jet engine lubricants, and heavy duty automotive greases, coatings and inks, polyurethanes, fly papers and many chemical derivatives and medicinal pharmaceutical and cosmetic derivatives.

However, castor seed is yet to attract the eyes of Nigerian farmers even though companies around the world cannot do without its oil extract on a daily basis.

Hence the urgent need for the Nigerian government to sensitise farmers on the viability and uses of this precious plant that can serve as another “cash cow” crop for the Nigerian economy like cocoa.

The National President, CASGPMAN, Mr. Lawan Ali, described the staggering amount used for importing castor oil as disheartening considering the consistent Naira depriciation against the dollar while also putting pressure on the nation’s FX market.

Ali said at the commissioning of the first bleached castor oil production facility in Nigeria established

by Agape Great Grace Ventures that the volume of importation of castor oil for the cosmetic and paint industry is high and harped on the need

PROCESSORS AND MARKETERS PLEA

for government to look inward to bridge the importation to the barest minimum.

FEDERAL GOVERNMENT EFFORTS

The Raw Materials Research and Development Council (RMRDC) stated that it is currently recording giant strides in its bid to make castor seeds available to processors, growers and marketers in order to boost the production of castor oil in the country.

The Director General of RMRDC, NMr.Ibrahim Hussaini Doko, who was represented at the commissioning by the Lagos State Coordinator, RMRDC, Tokunbo Habeeb, said that the council has assembled farmers in South-west to present them with high quality seeds while looking forward to a harvesting season later in the year.

Doko said: “We have assured the processors that these farmers will produce the quantity of seeds that the processors would need to produce

castor oil and the processors have also assured the farmers that as long as they are producing, there will be a market for their produce. This is the kind of assurance and reassurance that farmers need to cultivate this plant.”

He said that the council would be working with the Federal Institute of Industrial Research Oshodi (FIIRO) to understudy the technology deployed by Agape Great Grace Ventures in its quest to engage local fabricators to develop local capacity to bridge importation of castor oil.

“This is a pilot plant. We want the technology to be here first. We have plans to invite FIIRO to study the technology and engage our local fabricators. We also have plans to revitalize all the raw materials in the 10 sectors of the Nigerian economy and once we identify a private sector showing interest in the nation’s raw material development, we will provide the data and information concerning the raw material requirement,” he said.

The Managing Director and Chief Executive Officer, Agape Great Grace Ventures, Mrs. Omololu Ope-Ewe, called on the federal government to support local processors by giving grants, saying that investments in castor oil production require huge capital as high interest rates from commercial banks are eating deep into investors profit margins.

She noted that Nigeria would need thousands of bleached castor oil production facilities to meet its national need for castor oil, tasking the government to create the enabling environment for businesses to thrive in the country.

“We already have the equipment to process but seedling is vital. Courtesy of the help of the council, farmers in the South-west will start harvesting their produce by December. This facility is able to produce one tonne per day. Castor oil has about 34 uses and we need about many companies to invest in this technology to stop the importation of castor oil into the country.

“The basic challenge of the industry is lack of access to funds, infrastructure. We will advise the government to give grants to boost castor oil production to reduce the level of importation while creating employment opportunities for the teeming unemployed youths.”

“We cannot continue importing hybrid seeds from India. RMRDC has already made provision for getting the foundation and parent stock seeds which we will produce the hybrid locally. We believe this will go a long way to address one of the biggest challenges of our farmers because to import seeds, you know what the exchange rate is today. It is very difficult,” he said.

He commended the council’s effort to getting the parent stock and foundational seeds to produce hybrid seeds in the country. He said the good about castor seed is that it is not edible as it contains rinsin. “Wherever you plan, no animal can consume it. We do not have an open market and it can only be sold to specific processors and this is the reason why we sensitised the farmers around the south west,” he added.

South West Governors Partner to Drive Nigeria’s Agric Sector Gilbert Ekugbe Governors in the South-west have restated their commitment to drive the nation’s agricultural sector.

The move, according to the governors, would enable the region to contribute its quota towards Nigeria’s quest to achieve self-sufficiency in food production.

They disclosed that they are assiduously working together to improve the region’s agriculture sector through the South West Agric Company (SWAgCo).

The Governor of Ondo State, Mr. Rotimi Akeredolu (SAN), who also doubled as the chairman, South West Governors Forum, stated this during the South-west export enlightenment

and engagement themed, “Maximising Export Potentials in the South West Region for Economic Growth,” in Akure, Ondo State.

Akeredolu explained that the SWAgCo is a registered company under the Oodua conglomerate, and was created for effective exploration of agricultural resources in the region.

He said: “Today, we try to

unlock the agric sector by creating conducive environment. We are a One-Stop-Shop.

“We have the Ondo State Development and Investment Promotion Agency (ONDIPA) here, when you need land they must look for it.

“We have the cassava to ethanol plant. We have gone into partnership with NNPC. Another cassava

to ethanol company is coming up in Ose.” The governor further stated: “We have set up an industry that will be producing powder egg.

The company is almost afoot to produce powder egg.

“We have put a lot of intervention in place to double our cocoa export.

We have a single estate approach

in Jugbere. We have 10,000 hectares in Jugbere. We should be able to improve to 150,000 metric tons per year from the 80,000 that we currently produce.

“We have started a major revolution in Nigeria here in Ondo State called red gold. It has to do with palm. We must support the zero oil economy.”

LCCI Laments over Worsening Impact AATF Harps on Smart Technologies to of Insecurity on Food Production Improve Food Supplies across Value Chains Gilbert Ekugbe The Lagos Chamber of Commerce and Industry (LCCI) has lamented the high level of insecurity in the Northeast, noting that the situation is having a profound impact on food production.

The President of LCCI, Mrs. Toki Mabogunje, at a press briefing on the state of the nation, said many farmlands across the country have been destroyed with a consequent impact on food production and security.

Mabogunje said that “the chamber notes with serious concerns the worsening security situation in the country. It is scary that banditry attacks, abduction, herders-farmers conflict, vandalism, and insurgency have become recurring incidences in Nigeria. Many households have lost their means of livelihood.”

She stated that agriculture demonstrated resilience in the second quarter amid heighten-

ing insecurity and lingering supply chain disruptions orchestrated by the poor state of roads, adding that the sector accounted for 23.78 per cent of overall GDP in real terms in Q2 2021.

She called on the need for the federal government to provide a holistic and dynamic review of the security architecture to address the seemingly worsening security situation in the country.

Although food inflation recorded a decline of 73bps, the highest increases were recorded in bread, cereals, milk, cheese, eggs, oils and fats, potatoes, yam and other tubers, meat, coffee, tea, and cocoa.

She added that the yearon-year moderation in prices was on account of base effects associated with high food prices in the corresponding month of 2020, stressing that the uptick across the major sub-indices affirms the persistence of the major inflationary drivers which includes insecurity in the northern

and middle belt of the country and its consequent impact on agricultural activities; high cost of logistics on the back of higher domestic energy prices; lingering productivity challenges in the agricultural sector, leading to weak output outcomes and high cost of agricultural inputs and imported food items.

“Addressing the security crisis across the country is not only highly imperative but also very urgent. There is an urgent need for the Federal and state governments to show more commitment to the insecurity challenge considering its multidimensional impact on the economy,” she added.

She also emphasised the need to improve the agricultural value chain, particularly in key commodity products like cocoa, palm oil, and cashew to diversify the country’s export receipts. “We join the call on bank to support manufacturing initiatives that could achieve this objective,” she advised.

Gilbert Ekugbe African Agricultural Transformation Foundation (AATF) has emphasised the need to equip smallholder farmers with agricultural technologies that would improve the supply of diverse, safe and nutritious food across the value chains.

The Executive Director, AATF, Dr. Canisius Kanangire, at a presentation to the 2021 Food, Agriculture, Natural Resources Policy Analysis Network (FANRPAN) Policy Dialogue, said the foundation has championed for accessible and affordable agricultural technologies to African smallholder farmers that would significantly enhance their productivity and incomes.

Kanangire stated that “at the AATF, we continue to witness the transformative power of technologies when placed in the hands of small-holder farmers.”

According to him, through the Water Efficient Maize for Africa (WEMA) initiative driven by AATF,

over 120 climate-smart droughttolerant and insect-resistant maize varieties have been released, stressing that these varieties are suited to different agro-ecological zones and with the potential to increase maize yields by 40-60 per cent.

He added that cowpea production is expected to increase through the control of Maruca Pod Borer, adding that the benefits derived from the product include bumper harvests, higher incomes, and improved nutrition and health through reduced use of harmful insecticides. “Farmers will now be assured of better health especially regarding lower use of chemicals from eight sprays to only two,” he said.

He also said that the AATF is in the vanguard of encouraging mechanisation and agro processing through its Cassava Mechanisation and Agro-Processing Project (CAMAP) and AgriDrive.

“The CAMAP Project managed to bring over 65,300 hectares under mechanisation within five

years in Nigeria, Uganda, and Zambia, benefitting over 850,000 smallholder farmers, majority of them women and youth who usually provide labor for cassava production,’ he said The AATF boss said farmers who tried to mechanise their farms under the CAMAP had reported increased harvests from seven to nine MT/ha to over 25 MT/ha.

“The farmers also increased their earnings five-fold from $350 per ha to over $1,800 per hectares due to better quality tubers, increased yields, and greater market linkages,” he stated.

Kanangire pledged that the AATF would continue to engage in the annual FANRPAN Policy Dialogue, as a space to share the lessons on the role of agricultural technology and also engage with the policy and decision makers on the modalities for implementation.

FANRPAN Policy Dialogue is an annual event that brings Governments and other agricultural policy stakeholders on agricultural transformation in Africa.

30

TUESDAY OCTOBER 12, 2021• T H I S DAY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

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

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 08Oct-2021, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 160.07 161.47 -1.11% Afrinvest Plutus Fund 100.00 100.00 7.67% Nigeria International Debt Fund 315.73 315.73 -15.98% Afrinvest Dollar Fund 106.01 107.06 -4.31% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 10.18% AIICO Balanced Fund 3.37 3.54 -0.79% info@anchoriaam.com 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 8.68% Anchoria Equity Fund 138.38 140.11 4.83% Anchoria Fixed Income Fund 1.13 1.13 -14.68% 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 20.26 20.87 11.69% ARM Discovery Balanced Fund 443.44 456.81 10.76% ARM Ethical Fund 39.21 40.39 16.31% ARM Eurobond Fund ($) 1.08 1.09 -1.38% ARM Fixed Income Fund 0.98 0.99 -6.46% ARM Money Market Fund 1.00 1.00 8.31% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.65 106.65 4.86% AVA GAM Fixed Income Naira Fund 1,040.99 1,040.99 4.10% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -5.38% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.22 0.49% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 3.65% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.06% Paramount Equity Fund 17.13 17.45 7.13% Women's Investment Fund 140.56 142.21 5.63% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.33% Cordros Milestone Fund 2023 122.53 123.34 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 107.85 107.85 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.49% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.87% EDC Nigeria Fixed Income Fund 1,166.13 1,184.91 1.29% FBNQUEST ASSET MANAGEMENT LTD 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 1,427.45 1,427.45 11.56% FBN Balanced Fund 195.41 196.75 4.12% FBN Halal Fund 113.39 113.39 9.28% FBN Money Market Fund 100.00 100.00 9.16% FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

127.21 166.98

127.21 3.99% 169.23 10.45% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.66 1.19

Offer Price Yield / T-Rtn 1.00 6.43% 3.98 2.78% 1.70 9.16% 1.19 4.85% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.49% Vantage Balanced Fund 2.86 2.93 0.29% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 153.83 154.11 -1.07% Vantage Equity Income Fund (VEIF) - June Year End 1.26 1.30 -0.28% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.88 11.91 13.33% Meristem Money Market Fund 10.00 10.00 10.29% 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 1.54 1.57 13.49% PACAM Fixed Income Fund 11.19 11.19 -7.97% PACAM Money Market Fund 10.00 10.00 5.62% PACAM Equity Fund 1.43 1.45 -9.40% PACAM EuroBond Fund 111.77 113.78 1.83% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 133.57 136.04 8.83% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.06 1.06 10.09% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,463.18 3,501.02 7.85% Stanbic IBTC Bond Fund 233.66 233.66 3.92% Stanbic IBTC Ethical Fund 1.27 1.29 8.47% Stanbic IBTC Guaranteed Investment Fund 308.73 308.73 4.77% Stanbic IBTC Iman Fund 234.08 237.61 7.27% Stanbic IBTC Money Market Fund 100.00 100.00 7.46% Stanbic IBTC Nigerian Equity Fund 10,727.30 10,879.34 2.22% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.22% Stanbic IBTC Shariah Fixed Income Fund 115.96 115.96 4.39% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.39 104.39 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.33 1.35 3.69% United Capital Bond Fund 1.93 1.93 5.18% United Capital Equity Fund 0.90 0.93 13.24% United Capital Money Market Fund 1.00 1.00 8.74% United Capital Eurobond Fund 120.74 120.74 5.78% United Capital Wealth for Women Fund 1.08 1.09 5.72% United capital Sukuk Fund 1.06 1.06 6.48% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 13.10 13.22 10.43% Zenith Ethical Fund 14.61 14.77 19.72% Zenith Income Fund 24.44 24.44 1.88% Zenith Money Market Fund 1.00 1.00 6.86%

REITS

NAV Per Share

Yield / T-Rtn

124.98 53.78

10.62% 6.44%

Bid Price

Offer Price

Yield / T-Rtn

13.85

13.95

4.80%

128.26 100.87 17.74 20.14

131.44 103.08 17.84 20.24

6.66% 1.67%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund

SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.00 5.60 18.13 1.00 20.82 156.80

4.04 5.68 18.23 1.00 21.02 158.80

5.75% -1.52% 11.54% 7.51% 1.44% -28.66%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

31

T H I S D AY ˾ TUESDAY OCTOBER 12, 2021

PROPERTY & ENVIRONMENT Palton Morgan Signs Contract with BCL, Begins Claren Villas Development Bennett Oghifo

P

alton Morgan, a parent brand of Grenadines Homes and Oceanna has recently signed a contract with Business Contracting Limited (BCL) for the construction of Claren Villas – the most Prestigious Apartments at Ikoyi County.

Located at the exquisite Lugard Avenue, Ikoyi, Lagos, Claren Villa is a unique project and will offer a lifestyle of value and opulence upon completion.

Speaking at the signing event, the Executive Director/Group Chief Operating Officer, Palton Morgan, Nidal Turjman, said that the company is offering a smart and luxurious lifestyle in the real estate sector and has engaged the finest international contractors to build projects that meet global standards and the expectations of the market.

“Claren Villas is a project of Palton Morgan

by Grenadines Homes. It is an exclusive project that will complement the lifestyles of those that desire elegance and luxurious living.

It is unique by the technology being put in

place, the materials used for building and the amenities within the environment, which all match international standards. It is for those who are dissatisfied with conventional homes,” Nidal added.

He further stated that Palton Morgan was very particular about delivering on quality, hence the selection of only the best contractor, not just on financial grounds but also in the technical aspect.

“We are confident in their (BCL) expertise, quality of equipment, and their capacity to deliver on schedule. Our expectations from our contractors are timeous delivery, quality of workmanship, and compliance with Health, Safety and Environment (HSE) ethics”, he concluded.

The Managing Director, Business Contracting Limited (BCL), Roda Fadlallah, expressed delight at the opportunity to work with Palton Morgan on the Claren Villa project and commended the company for its reputable track record: “Working with the team has been a delightful experience. I worked on the Skyvilla project and I found them of integrity, professional and transparent. I’m inspired by the sheer magnitude

of their ideas and their vision,” he said.

Roda added that BCL shares

the same ambition with Palton Morgan; “Our objective this year is to deliver the project based

on the niche market. We have the right focus and vision in delivering the right project.”

L-R: Managing Director of BCL, Roda Fadlallah; and Group COO, Palton Morgan, Nidal Turjman, at the Contract Signing Ceremony for the development of Clarens Villa in Lagos… recently

‘Nasarawa Technology Village an Innovative Housing Project’ The Nasarawa State Government recently signed a memorandum of understanding with ABS Blueprint Ltd., a construction and real estate company for the development of a Technology Village. Mohammed Yamusa Sulaiman, a Quantity Surveyor, the Chief Executive Officer of ABS Blueprint says it is his largest project so far and that it will be the envy of other states government Tell us about your real estate business I’m Yamusa Suleiman. I’m a quality surveyor, the founder and CEO of ABS Blueprint Ltd. I’m from Nasarawa State. I’m a business man and executive strategist.

What kind of services do you offer?

Well, ABS blueprint is primarily a construction and real estate company, but we offer services that are fully integrated into the industry in the construction industry, which includes other professional services in the industry like consultancy, project management, the two services that span planning and execution to completion of project.

What inspired the establishment of ABS? Primarily, I’m in the industry, as I mentioned earlier, I’m a quality surveyor, I’ve always had an interest to be able to do business in my field. But, when I was a kid, I had an interest in construction.

It’s something I’ve always had a passion for. So, I’ve always been inclined towards the industry right out of school. Immediately I graduated, I started practicing with other partners and that was way back in 2004. So, by 2009, I registered ABS Blueprint. I wanted to carve out a niche for myself and do a thing that has my name on it.

I started ABS movement back then.

Sulaiman

Tell us more about your main projects, especially the ongoing ones Yeah, we have a number of real estate projects; we have a project in Diplomatic Zone extension. It is an estate of about 32 flats that we just completed.

Universal One Opens Show Homes at Alaro City Universal One show homes are ready for visitors, giving existing and prospective buyers an opportunity to immerse themselves in Alaro City’s community of 576 contemporary apartments – the first of their kind in the Lekki Free Zone.

Universal One apartments feature open-plan living rooms extended with balconies, generous bedrooms and modern kitchens. The two-bedroom apartments (expandable to three or four bedrooms) are in a tranquil setting, powered by world-class amenities and Alaro City’s commitment to open spaces and nature.

Within Universal One’s gates are a luxury swimming pool, three-acre park, clubhouse, supermarket, gym, restaurant, basketball court, badminton/volleyball court, kids adventure playground, jogging trail, lush landscaping and barbecue corner.

Universal One will have underground water storage, 24/7 electricity, 24-hour security with CCTV and key card access, well-lit common areas with solar powered streetlights and secure parking for residents and visitors.

Family-friendly Universal One is being developed by Universal Homes, a residential community developer with British origins. The company is also developing 3,100 homes in Kenya – known as Unity Homes, located within Tatu City in Nairobi.

“As the pioneer residential development in the Lekki Free Zone, Universal One aims to also serve as a model for modern living in Alaro City, Lagos’ new city,” said Jason Horsey, Executive Director of Universal Homes. “A key part of our strategy is the technology that we use; a unique form of building that results in our

houses being solid concrete monolithic structures, thereby reinforcing quality and ensuring dimensional precision, something that is not achievable with the conventional way of building”.

Additional standard amenities at Universal One include: r ,JUDIFOT XJUI NPTBJD backsplashes and breakfast bars r 1PMJTIFE *UBMJBO TUZMF granite worktops r LH TFDVSJUZ EPPST r 8PPEFO UFBL UFYUVSFE ceramic tiles r 6UJMJUZ BSFBT XJUI XBTIJOH machines r - TPMBS XBUFS IFBUFST with boosters r 4NPLF EFUFDUPST r "JS DPOEJUJPOJOH JO BMM living spaces r 8IJUF 67 XBSESPCFT r *UBMJBO TUZMF TUBJOMFTT kitchen/bathroom fittings r 3BJO TIPXFST

We have a project at Asokoro, a private residential luxury real estate. We have another mini estate at Asokoro extension. And right here in Life Camp, just close to us, we also have a mix-use development, as a commercial and residential estate, we are about to work on. It’s going to have at the back luxury villas and the front will have luxury service with furnished apartments that will be able to give us short-lets. Yeah, so that’s the business we’re trying to get into aggressively.

Then also, there’s a project that is dear to my heart that we just signed with Nasarawa State government, we are just about to start, that we signed last month. This is the largest - 67 hectares.

So it’s actually called the Nasarawa Technology Village. The Nasarawa Technology Village is a project highlighting the vision of the Nasarawa State Governor Abdullahi Sule, as captured in the Nasarawa Economic Development Strategy (NEDS) to build a Technology Hub in the State, modelled after the Silicon Valley in America. The project is a joint venture between ABS Blueprint Consortium and Nasarawa State Government, located on a 67 Hectares land in Aso Pada Karu LGA of Nasarawa State. It will have a technology Hub as the main attraction and also total of 2,300 housing units. The project will have a cumulative

total of 2,300 housing units. The Technology Hub will provide funded training for 2000 IT students each Year as software Engineers. The students will be secured high paying outsourced IT jobs upon graduation. We will have innovative 1- and 2-bedroom blocks of flats on 10 hectares of the land funded by the Family Homes Funds. We will have 2-bedroom terrace bungalows and 3-bedroom detached bungalows. We will have schools, a hospital, commercials centres and religious centres. We will build the infrastructure and provide the required ancillary services for the entire project. The project will create 15,000 direct jobs and over 60,000 indirect jobs. The project will cost an estimated sum of N22 billion, which will be funded 100% with investment funds such as the Family Homes Funds, Private Equity Funds and Venture Capital financiers. The Technology Village is going to be highly innovative. I mean, that’s a project, I think, unlike anything we’ve seen around the country. So to be able to get it software jobs from all over the world. These are high paying jobs. I think at minimum they will earn up to $2500 every month right up to about $3000 or $3500 every month. And the graduates will, of course, be entitled to be able to purchase the houses.

UPDC Unveils Pinnock Prime Estate in Lekki Foremost property development Company, UPDC Plc., is unveiling another spectacular project known as Pinnock Prime Estate.

In a press statement released by the Managing Director/ Chief Executive Officer of the company, Mr. Odunayo Ojo, the project is a site and service scheme located at Lekki Peninsular II next to its existing Pinnock Beach Estate.

Pinnock Prime Estate is envisioned to become a sought - after development and a residential destination of choice within the area as well as to create a new benchmark for suburban living and a prime, secure and close- knit enclave, setting the standards for premium quality homes.

Under the scheme, UPDC Plc will develop an expanse of land measuring 1.47 hectares JOUP TJUF BOE TFSWJDF QMPUT each measuring between approximately 500 to 1000 square metres. The development will benefit from UPDC’s track record in delivering excellent

development control guidelines in line with the company’s value proposition.

Pinnock Prime Estate will be delineated along the lines of high- and low-density plots.

In the high-density area, 5 plots

will be allotted in a format of 5 - 7 housing units per plot depending on their sizes. In the low-density area, 13 plots are allotted to be developed based on a maximum of 2 housing units per plot.

Pinnock Prime Estate architectural presentation

32

T H I S D AY ˾ ͯͰ˜ 2021

BUSINESS/MONEYGUIDE

Abia Seeks Partnership With France to Boost Agriculture, MSME Emmanuel Ugwu-Nwogo ÓØ ×ßËÒÓË The development of agriculture, Micro, Small and Medium Scale Enterprises (MSMEs) as well as the Enyimba Economic City in Abia State is expected to receive a big boost following assurances of stronger economic cooperation between Abia and the French Government.

This was the outcome of discussions that Governor Okezie Ikpeazu held with the French Minister of Trade and Commerce, France Riester when he led a delegation to France last week to attend the Livestock Summit organised by the French Embassy in Nigeria.

Former President Olusegun Obasanjo and the governors of Jigawa, Ondo, Oyo and Kwara also attended the summit.

It was during the summit that the Abia governor sought stronger partnership between Abia and France in order to give the needed push to economic activities in the state.

The Abia commissioner for information, Chief John Okiyi Kalu in a release said that in the course of discussion with Riester, Governor Ikpeazu requested for greater engagement in the areas of livestock farming with specific focus on Efi Igbo (the local breed of cattle found in Southeast zone).

He said that the partnership would involve vocational training for Abia youths who are willing to engage in agriculture, aquaculture, processing and export of agricultural products as well as support for development of the MSMEs in the state with particular reference to those engaged in export of made-in-Aba brands.

The Abia Chief Executive described the Enyimba Economic City project as the single biggest development agenda in Nigeria and Africa today and called on the French government and investors to key into the project in which the Federal Government is a major partner.

Ikpeazu on return to the country at the weekend described the trip to France as “highly successful” stating that his administration will continue to seek partnerships that will ultimately ensure better life for the people of Abia state.

“Our focus remains to bequeath a better Abia to the people of the state who entrusted us with their mandate and this trip is one of many such efforts,” he said, adding, “We are hopeful that a lot of positives will come out of the engagement”.

Fitch Affirms Wema Bank’s Issuer Default Rating B-, Stable Outlook Wema Bank Plc has announced that Fitch Ratings has affirmed its Long-Term Issuer Default Rating (IDR) at ‘B-’ with a Stable Outlook.

“Similarly, the National LongTerm Rating has been upgraded to ‘BBB(nga)’ from ‘BBB-(nga)’, reflecting the bank’s increased creditworthiness relative to that of other issuers in Nigeria The Issuer default ratings of Wema are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of ‘b-’, “the bank said in a statement.

“The VR reflects the concentration of the bank’s activities within

Nigeria’s challenging operating environment, aggressive loan and balance-sheet growth - which it expect to continue over the medium term. It also reflects Fitch’s expectation of a significant improvement in capitalisation and leverage, due to a material rights issue due to be concluded by end-2021.”

The Stable Outlook, it added, reflects Fitch’s view that risks to Wema’s credit profile are captured by the current rating, with sufficient headroom under it’s base case to absorb the fallout from operating-environment pressures.

“Operating conditions in

Nigeria are gradually stabilising. Fitch forecasts 1.9% GDP growth in 2021, following a 1.8% contraction in 2020. Our baseline scenario is that business volumes and earnings should continue to rebound in 2021, while the rally in oil prices is also a positive factor.

“Nevertheless, Fitch said downside risks linger generally, given inherently volatile market conditions, with banks still exposed to foreign currency (FC) shortages, potential further currency devaluation, rising inflation and regulatory intervention by the Central Bank of Nigeria (CBN), “it added.

UBA Promotes Savings Culture, Lavish Prizes on Bumper Account Holders Dike Onwuamaeze The United Bank for Africa Plc (UBA), is promoting saving culture necessary for capital accumulation and investments in the Nigerian economy by rewarding its customers with millions of Naira for saving up to N5,000 in their UBA Bumper Account every month.

The bank on Wednesday rewarded Mr. Ambrose Osita, Mr. Saheed Adesina and Mr. Adewumi Olaniyi with N2 million, N1.2 million and N500,000 respectively for subscribing to its Bumper Savings Account (BSA). The UBA also rewarded

20 holders of the bumper account with N100,000 each.

These 23 individuals emerged the lucky winners of the September edition of the bumper monthly draw, which selected winners in a transparent manner under the supervision of the representatives of Nigeria Lottery Regulatory Commission.

The Team Lead of the BSA, Mr. Babatunde Ajayi, said that every Nigerian who holds a bumper account stood the chance to win big every month, adding that the bank intended to produce two millionaires every month in its bid to motivate Nigerians to embrace saving culture.

Ajayi said: “We want a situation whereby customers will save, get interests on their savings and also win prizes for savings so that there will be an extra value added to them. That is the idea behind it.”

He explained that a prospective customer is required to save up to N5,000 in his or her bumper account every month to qualify for the monthly draw, adding the more one saved the more his/ her chances of winning the prize.

“Nigerians have seen the way it happened live today. So all they need to do is to open an account.

We have made it to be very simple by dialing *919*20# to get started.

CHI Set to Celebrate World Juice Day In recent times, health & wellbeing have emerged as a key focus for consumers, and more importantly in the COVID-19 era, emphasis has shifted to adjusting to the new normal.

This has meant adapting and taking control by embracing proactive health and wellness routines.

It is in this circumstance that Chivita World Juice Day 2021 is taking place. This year’s edition, which is the third in the series will hold on October 17th 2021, and

highlight the increasing need for consumers to take practical steps to be in control of their well-being.

This year, the theme for Chivita World Juice Day is “Fruit Juice: Powering My Health My Way”.

Consumers are encouraged to step forward and be involved in taking steps in lifestyle modifications, self-awareness and choosing to consume food and drinks that enhance daily nutrition by actively including fruit juices to boost their health & well-being, but most importantly, achieving this on

their own terms.

The conference will be a hybrid of Physical and Virtual event of Presentations and Panelist discussions with respected nutritionists & health experts sharing insights on the benefits of including fruit juices in your daily health routine. It will also feature engaging sessions with tips, ideas and new exciting recipes of smoothies, mocktails, mixes, and blends with Chivita brands through videos, thereby making these contents sharable.

Head, Digital Banking & Financial Inclusion, Standard Chartered Nigeria, Adeyinka Shorungbe; Head, Corporate Affairs, Brand and Marketing, Standard Chartered Nigeria,Dayo Aderugbo and Head, Wealth Management Standard Chartered Nigeria,Lanre Olajide during the launch of Standard Chartered Nigeria’s BANK MORE SCORE MORE campaign in Lagos

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͵

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

33

T H I S D AY ˾ ͯͰ˜ ͰͮͰͯ

Onyema: NGX Group to Forge Ahead With Plan to Become Africa’s Preferred Exchange Hub Darasimi Adebisi The Group Chief Executive Officer, Nigerian Exchange Group (NGX), Mr. Oscar Onyema has reiterated that the group with its listing on Nigerian Exchange Limited (NGX) aimed to forge ahead with its aspiration to becoming Africa’s preferred Exchange Hub. Speaking virtually at the “Facts Behind the Listing presentation of NGX Group Plc” at the NGX

Limited yesterday, Onyema assured stakeholders that the market was well positioned to create new financing opportunities and partnership possibilities.

Onyema noted that the company’s shares would likely be listed on the NGX on Oct. 13.

He maintained that the listing of the 1.96 billion shares would open up NGX Group’s capital to new investors within the Nigerian investing public and international institutions,

P R I C E S MAIN BOARD

F O R

DEALS

thereby reinforcing its presence in international capital markets.

According to him: “It further reinforces NGX Group’s brand leadership, legacy and attractiveness as Africa’s Exchange hub; access to wider and deeper pool of capital from a broader universe of international domestic market; liquidity for shareholders; price discovery driven by liquidity among others.”

He explained further that:

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

“Having successfully demutualised the exchange, the NGX Group will actively forge ahead with its aspirations to become Africa’s preferred Exchange Hub. “NGX Group aspires to increase its regional impact by helping more companies unlock their growth potential, providing new accessible opportunities for citizens to create durable wealth.

“Better supporting governments to achieve inclusive

T R A D E D MAIN BOARD

A S

growth and sustainable decelopments; we aim to be a leading force in consumer experience by leveraging emerging technologies to create smart products and diversity services with a focus on market leadership and empowerment.

“To build an integrated, multi-exchange business with diversified revenues through identification of growth opportunities, expansions of current business lines and development

O F

of new products market across Africa and beyond,” he said.

He pointed out that 20 per cent free float requirement standard was already available to be freely traded by the public after listing.

He added that: “We are operating in a very attractive market dynamics, we have a diversified business model and we have a strong competitive positioning because of our strategic partnerships around the world and we have a clear expansion plan.”

1 1 / 1 0 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

TUESDAY, ͹ͺ˜ ͺ͸ͺ͹ ˾ T H I S D AY

35

TUESDAY OCTOBER 12, 2021 ˾ T H I S D AY

NEWS

Lagos CP Warns against Commemoration of ENDSARS Protest Deploys SWAT units to Lekki tollgate

Chiemelie Ezeobi However, it was soon hijacked and it led to widespread deaths, prison breaks, looting of shops and properties, as well as massive destruction and looting of police and government facilities.

According to the Lagos State Commissioner of Police, Hakeem Odumosu, the need to warn intending protesters to desist from gathering on Tuesday (today) was based on credible intelligence.

Already, the command has deployed several police units including the SWAT to man the Lekki Tollgate, the melting pot of last year’s protest.

Odumosu said: “Credible intelligence at the disposal of the command has revealed clandestine plans by some youths, individuals or groups to embark on protest today in commemoration of one year anniversary of ENDSARS. “Lagosians and indeed Nigerians cannot afford to relive the distasteful experience of last year protest which caused pain, anguish, needless loss of

lives and wanton destruction of public and private property.

“In view of the volatility of the present situations in the

country, and the breakdown of law and order which the planned protest might cause, the Lagos State Police Command

sternly warns against any form of protest today.

“The command wishes to use this medium to warn the

youths, groups, or associations planning such protest to jettison the idea forthwith. The police in the state will not fold their

arms and allow some misguided elements disrupt the peace and serenity currently being enjoyed in the state.

BEST OF LUCK…

L-R: Vice Chancellor (VC), Lagos State University (LASU), Prof. Ibiyemi Olatunji-Bello; Group Managing Director/CEO, VDT Communications, Mr. Biodun Omoniyi and Chief Operating Officer (COO), Enterprise Sales, VDT Communications, Mrs. Bimbo Ikumariegbe,during a courtesy visit to congratulate the new VC at LASU

Edo Pensioners Protest Girl Child Day: Bauchi Gov Vacates Seat for 14-year-old Aisha Non-payment of 13 Years Gratuity Segun Awofadeji in Bauchi

Adibe Emenyonu in Benin City Pensioners in Edo State civil and local government services in their hundreds protested non-payment of 10 and13 years gratuity respectively.

The protest, which started at the Oba Ovoranmwen Square, known popularly as Ring Road in the city centre of Benin City the state capital, disrupted vehicular movements for hours. They also protested against the continued deduction of one per cent of their income to the Nigerian Union of Pensioners (NUP) and the nonharmonisation of their salaries to ensure that all those who retired at the same level earn the same salary irrespective of

the year they retired.

The blockade of the city centre caused gridlock along adjoining streets like Airport Road, Ezoti Street, Reservation Road, parts of Sapele Road and others, this was even as one of the protesting pensioners collapsed and was rushed to a health facility where he was revived.

Speaking to journalists, one of the protesters Gordon Osamunyi said: “We are all pensioners that are alive we all have issues with the government if it is not harmonization, it is the consequential adjustment of the N30,000 minimum wage every pensioner that is still alive today has issues with the government.

The Bauchi State Governor, Senator Bala Abdulkadir Mohammed, vacated his seat yesterday for an 14-year old girl, Miss Aisha Katagum, of the Government Junior Secondary School, Katagum, as part of the celebration of the 2021 International Day Of The Girl Child in the state.

Mohammed explained that he vacated his seat for Aisha

and other young girls who acted temporarily as members of the State Executive Council to encourage the girls to redouble their effort in seeking for education.

He said: “It was a privilege to have talented young girls taking over the governance of our state and it is a good thing to expose our children very early to such things as it will boost their confidence.”

The governor, who was

represented by the Secretary to the State Government (SSG), Mr. Ibrahim Kashim, observed that vacating his seat for the girls would also expose them to the dynamic of leadership and the infrastructure of governance.

He assured that his administration would continue to execute policies that would ensure the advancement of girl child education in the state.

On her part, the Education Specialist of the UNICEF’s Bauchi

Field Office, Ms. Mairama Dikwa, appreciated the commitment of the administration of Governor Mohammed to the development of girl child education.

Dikwa said that the celebration of the International Day of the Girl Child is dedicated to the growth of girls and to promote girls’ rights and highlight gender inequalities all over the world, and noted that the theme of this year’s celebration is “Digital Generation.”

Gombe Gov Swears in New High Court Judges, Khadis Segun Awofadeji in Gombe

Gombe State Governor, Muhammadu Inuwa Yahaya has sworn in three new High Court Judges and two Khadis of the Sharia Court of Appeal.

Those sworn in as High Court Judges were Zainab Abdulkadir Rasheed, Abdulsalam Muhammad and Daurabu Sikkam Suleiman

while Adamu Kuna Jibril and Ahmed Baba Bala took oaths as Khadis.

The governor equally presented two laws which he signed, authorising autonomy for the Legislature and the Judiciary in the State.

In his address at the swearing-in ceremony, Governor Yahaya said the appointment of the High

Court Judges and Khadis of the Sharia Court of Appeal followed their confirmation by the National Judicial Council (NJC).

Yahaya equally maintained that their appointments were further necessitated by the exiting of some Judges and Khadis in the State who attained the mandatory retirement age.

“The newly sworn-in Judges and Khadis are adjudged to be persons with experience, maturity, forthrightness, moral rectitude and deep knowledge of jurisprudence and are veritable jurists par excellence; I believe they are immeasurable assets not only to the judiciary but to the entire State and the country as a whole,” he said.

impeached the leader of the state Council of Ulama, Sheikh Ibrahim Khalil. However, some of the clerics present during the announcement expressed dissatisfaction over the process. Addressing journalists yesterday, in Kano, a coalition of the

Saifullah Adam Assudani, said that the chairman of the State Council of Ulamawas impeached for being political in running the affairs of the council.

The coalition also announced the appointment of Professor Saleh Pakistan, who

council.

Some of the reasons they give for impeaching the leader include, “turning the council into a political platform by engaging in faceoff with every government that comes into power that include former governors Malam Ibrahim

“His reasons in all the cases were that they disallowed him to contest political offices in his position as a cleric, a situation that has led to the council not benefiting from the government and the government losing the elderly advises of the council.

2023: YPP Rejects Zoning of Rocks Kano Council of Ulama over Removal of Leader Presidency as Ondo Chapter Crisis various Muslim sects in Kano is also the chairman of Kano Shekarau, Rabiu Kwankwaso Ibrahim Shuaibu in Kano that include: Izala, Tijjaniyya Pilgrims Welfare Commission and of recent, Dr Abdullahi Gets New Chairman The Kano Islamic Clerics have and Kadiriyya, led by Ustaz as the new chairman of the Ganduje.

Fidelis David in Akure

The Young Progressives Party (YPP), has kicked against zoning of presidential ticket in the country during the 2023 general election.

National Chairman of YPP, Comrade Bishop Amakiri, who stated this while addressing party’s faithful in Akure, described as a wrong move for political parties to embrace zoning of presidential candidate over competence ahead of 2023 elections.

“Choosing Nigeria’s President should not be based on zoning but voters should be allowed to decide who they want to govern them through credible, free and fair elections”.

The YPP national chairman noted that instead of zoning,

leaders who are efficient, honest, competent and can give the people the leadership they desire should be voted for.

“Zoning is something that I believe must be handed over to the people to decide who they want. The party can zone their presidency to the south, for example, but may find it difficult to get suitable and credit aspirants from the zone and you are getting more credible people from the Northern part of the country, are they going to shut the door against the northerners as against the South that you have zoned to ?

“We should not talk about Zoning in terms of Presidency.

We can talk about Zoning in terms of Party structural building. That’s where Zoning should be reflected.

APC Inaugurates Executive Officers in 21 LGs of Kebbi Ismail Adebayo in Birnin Kebbi The All progressives Congress (APC) yesterday inaugurated the elected executive officers for the 21 local government areas in Kebbi State.

At the inauguration, the party’s Legal Adviser in the state, Alhaji Sanusi SamailaJega, charged the officers to uphold the country’s and

party’s constitutions at all times.

“You must always consider the well-being of your party’s members; ensure you carry everybody along, and be faithful to the party at all times,’’ he charged.

The officers were elected on September 4 this year.

The inauguration was supervised by Kebbi State’s Deputy Governor, Alhaji Samaila Yombe-Dabai and

Speaker of the state’s House of Assembly, Alhaji Muhammad Lolo.

Other supervisors were the state’s Chairman of the party’s Caretaker Committee, Alhaji Abubakar Kana-Zuru, and Northwest Chairman of the party, Alhaji Sahabi Lolo.

In his address, Kana-Zuru, charged the officers to return to their respective local governments to reconcile

aggrieved members of the party.

“You should also work closely with the wards’ executive officers as well as party members in order to move the party forward,’’ he charged.

In his remarks, Yombe-Dabai who represented governor Bagudu commended the state governor for his efforts at ensuring the unity and progress of the party in the state.

36

TUESDAY OCTOBER 12, 2021 ˾ T H I S D AY

NEWS XTRA

New Law Empowers Judges to Compensate Victims of Crime, Says Lagos Attorney General Wale Igbintade Lagos State Attorney General and Commissioner for Justice, Moyosore Onigbanjo (SAN), has revealed that Lagos State Administration of Criminal Justice (Amendment) Law (ACJL) 2021 has empowered trial judges to award compensation to victims of crimes who suffer injuries as a result of an action of a guilty defendant.

Onigbanjo revealed this while addressing journalists on some unique features of the ACJL, which was signed into law recently by the state Governor, Babajide Sanwo-Olu. According to the state Attorney General, Section 372 of the law now gave power to Judges to award commensurate compensation in criminal cases where victims suffer losses or injuries unlike in the past where this only applies to people who have suffered financial losses.

Onigbanjo said: “Section 372 gave power to the Judge to award compensation in criminal cases where victims have suffered losses or injuries.

The Judge also has the power to forfeit the property of the

guilty defendants or any other person or state, and ordered them to be sold to compensate the victim of crimes.

“So, it no longer applies to people who suffered financial damages, but also to people

who suffer injuries by the action relating to that crime.

“In doing so, the court, in considering the award of compensation to the victim, may call for additional evidence to enable it determine the quantum

of compensation to award.”

The state AG also disclosed that the ACJL in Section 370 mandated the state to establish a crime data register.

He said the data register is an electronic repository of

information on suspects and offenders either convicted or awaiting trial that pass through the Criminal Justice System from the point of arrest through prosecution up until the judgment is delivered.

Onigbanjo further stated that the register would also serve as a criminal records database, and organisations in the state may apply to obtain criminal records, particularly for sex offenders.

CELEBRATING THE CUSTOMER…

L-R: Managing Director, Coronation Insurance Plc, Mr. Olamide Olajolo ; Managing Director, Finterate Projects, Mr. Ekerete Gam-Ikon; Executive Director, Leadway Assurance Limited, Mrs. Tola Adegbayi; Managing Director, AIICO Insurance Plc, Mr.Babatunde Fajemirokun; Managing Director, YOA Insurance Brokers Limited, Mrs. Enitan Solarin; Managing Director, Cornerstone Insurance Plc, Mr. Ganiyu Musa, and Executive Director, YOA Insurance Brokers Limited, Mr. Tunde Hassan, at the YOA Insurance Brokers customer service to mark the customer service week in Lagos…recently

‘Sit-at-home Orders Not Issued Ex-Dep Speaker Accuses New Ondo CJ of Bias for impartial adjudication and against the former deputy not have the required number Fidelis David in Akure

by Igbo in Diaspora’ quick dispensation of justice. speaker was also inaugurated of lawmakers to impeach him Sunday Okobi and Fred Ojeh

The Igbo World Assembly (IWA) has condemned, in the strongest terms the, insinuation by some leaders in the South-east region that the sit-at-home orders in the region were largely issued by Igbo people in Diaspora The Chairman of IWA, Dr. Nwachukwu Anakwenze, in a statement made available to THISDAY at the weekend noted that the Diaspora Igbo group has never issued any sit-at home order, adding that they clearly understand

the consequences it would have on our people and the region in general. The South-east states governors and leaders, after their meeting held in Enugu to deliberate on the situation in the region, had alleged that the sit-at-home orders were mostly issued by Igbo people in Diaspora.

According to the statement, “Ordinarily, we do not issue any rejoinder after such meetings because we believe that when our elected leaders and stakeholders at home meet, they deliberate on the interest of Ndigbo worldwide.

Okolo Posted to Bayelsa as New Police Chief Kingsley Nwezeh in Abuja

The Inspector-General of Police, Mr. Usman Baba, yesterday ordered the posting of Mr. Ben Nebolisa Okolo to Bayelsa State as the new Commissioner of Police (CP).

A statement by Force Headquarters said Okolo takes over from CP Echeng E. Echeng earlier redeployed to Anambra State Police Command. The new police commissioner is a fellow of the National Defence College and hails from Onitsha in Anambra State.

He holds a Bachelor of Science degree in Political Science from the University of Nigeria Nsukka.

“A cop with vast experiences in policing and community safety, CP Okolo has held key positions within the force cutting across administration, criminal investigations, operations, among others.

“He previously served as Deputy Commissioner of Police, Force Intelligence Bureau, Deputy Commissioner of Police, Special Fraud Unit and the Head of IGP Monitoring Unit, amongst other positions”, it said.

Lagos Gov Shows Compassion, Reduces Traffic Offenders’ Fines Emmanuel Olorunda-Otaru The Governor of Lagos State, Babajide Sanwo-Olu, has tempered justice with mercy, and reduced the traffic offenders’ outrageous fines.

He promised that “For example, if the fine was N70,000, it will be reduced to about N20,00”.

Sanwo-Olu, who visited the impounded vehicles depot at Alausa, on Wednesday, in company with the Lagos State Taskforce Chairman, Mr. Shola

Jejeloye, and other government officials, was moved with compassion, when he saw many impounded vehicles, and the tearful and sorrowful faces of some of their owners/drivers milling around helplessly.

He drew near the crowed and addressed them, asking, “Do you agree that you have violated the traffic laws of Lagos State, and the laws must be obeyed? They answered, “yes we agree, please forgive us”.

The immediate past Deputy Speaker of Ondo State House of Assembly and lawmaker representing Odigbo Constituency 1, Hon. Iroju Ogundeji, yesterday sought the transfer of his case against the state assembly from the newly appointed Chief Judge of Ondo State, Justice Williams Akintoroye, to another judge

Ogundeji was impeached last year following crisis that erupted in the House of Assembly in the build up to the October 10 governorship election in Ondo State where he kicked against a move to impeach the then Deputy Governor, Mr. Agboola Ajayi.

A panel to investigate an allegation of gross misconduct

by the assembly while the leadership of the assembly said that 20 of the twentysix members signed the impeachment of the deputy speaker.

In a letter obtained by THISDAY in Akure, Ogundeji described his impeachment as null and void, insisting that the leadership of the assembly do

as it was done clandestinely.

He then approached the state High Court to challenge his impeachment.

He said in the letter he addressed to the State Chief Judge that he was no longer comfortable with the fraternisation of the new Chief Judge with the defendants in the case before him.

APC Congress: Drug Test Mandatory for Contestants in Kano Garba Ibrahim Shuaibu in Kano All contestants for the executive offices of the All Progressive Congress (APC) in Kano State congress scheduled for October 16 would be subjected to mandatory drug test.

The State Commissioner for Information, Mr. Muhammad Garba, who disclosed this in a

statement, said all contestants are to visit the state office of the National Drug Law Enforcement Agency (NDLEA) starting from today Tuesday, October 12, to the closing of the screening exercise for the test.

Garba said the decision was part of government policy to rid Kano of illicit substance and warned that no contestant would be screened without

undergoing the mandatory drug test.

He said similar tests were carried out for contestants into local government election as well as political appointees including members of the state executive council before offering them portfolio.

Garba revealed that already, Governor Abdullahi Umar Ganduje has mandated the

state office of the National Drug Law Enforcement Agency (NDLEA) for the conduct of the tests.

The commissioner disclosed that government would not hesitate to issue necessary disciplinary measures against anyone found with the trace of illicit substance including a compulsory recommendation for rehabilitation.

Rumoured Killings Disrupt School Activities in Awka David-Chyddy Eleke in Awka Rumours of the killing of some people in Awka the capital of Anambra State yesterday disrupted school activities, with most schools shutting down in fear.

The rumours first came that there has been shooting at the popular Eke Awka Market while some people had also been killed.

The rumour escalated when it

was reported that a principal of a popular government owned secondary school had been gunned down by rampaging gunmen.

As at 12p.m., students of the school in the state capital had been sent home by school managements, with most parents scampering to pick up their wards.

A parent, Mrs. Uchechi Obi, who spoke to THISDAY said: “I am hearing too many

stories, some say there have been killings at Eke Awka, another version saidnthat unknown gunmen are in Amawbia, and had attacked a school, killing the principal.

“I don’t know which one is true, but to be on the safe side, I decided to go and bring back my child.”

As at 2p.m., all schools in the state capital had officially closed, with pupils sent home.

Checks by THISDAY

correspondent, however, revealed that the rumour was triggered by gunshots said to have been fired by security operatives at Eke Awka, where they had gone to arrest an alleged criminal that was involved in a recent attack on police.

Spokesperson of the Anambra State Police Command, DSP. Toochukwu Ikenga, when contacted said he was not aware of any gunmen attack in Awka.

El-Rufai Reshuffles Cabinet, Appoints 28-year-old Khalil to Head KADIPA John Shiklam in Kaduna Governor Nasir El-Rufai of Kaduna State, has reshuffled his cabinet with some commissioners swapping positions and senior government officials assigned new portfolios. The governor also appointed 28-year-old Khalil as head of Kaduna

investment agency Khalil is a graduate of the faculty of business and economics, Eastern Mediterranean University (EMU), Cyprus. Prior to his appointment, Khalil was the investment intelligence director at KADIPA, the youngest person to assume the role in the history of

Kaduna.

A statement yesterday in Kaduna by Spokesman to the governor, Muyiwa Adekeye, said the reshuffle was designed to help harness fresh energy for the final lap of El-Rufai administration and bring new insights as well as enable commissioners to have more rounded experience of

the government.

According to the statement, eight of the 14 commissioners swapped portfolios, adding that the changes did not affect the ministries of Finance, Justice, Health, Housing & Urban Development, Internal Security and Home Affairs and Human Services and Social Development.

TUESDAY OCTOBER 12, 2021 ˾ T H I S D AY

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NEWS XTRA

OPEC+ Crude Oil Production Rises in September, Hits 27.29mbpd Nigeria records highest underperformance with 224,000 bpd Emmanuel Addeh in Abuja with agency report The Organisation of Petroleum Exporting Countries (OPEC) and its allies boosted crude oil output by 470,000 barrels per day in September, but with a number of members, including Nigeria, still struggling to reach their quotas.

OPEC’s 13 countries pumped 27.29 million bpd during the month, according to latest data, up 320,000 bpd from August, an S&P Global Platts survey stated, while Russia and eight other partners added 13.44 million bpd, up 150,000 bpd.

But for Nigeria and a few others, years of underinvestment exacerbated by the COVID-19 oil price crash have limited their ability to pump more, leading to questions over whether the OPEC+ alliance will be able to fully unwind its historic pandemicprompted output cuts by the end of 2022, as planned.

According to the data, Nigeria, for example, underperformed its quota by the largest volume in September, hitting as much 224,000 bpd, as key crude grade, Forcados spent the third of the month on force majeure.

In addition, damage to the Nembe Creek Trunk Line severely impaired exports of Bonny Light as the West African country was only able to pump 1.39 million b/d, up 30,000 b/d from August, S&P said.

Angola, which produced 1.15 million bpd, according to the survey, has not hit its allocation for months, with its mature fields in decline, though a few new projects have recently come online that could add some volumes in the coming months.

Malaysia was the non-OPEC member with the largest gap below its cap, with sources saying its flagship Kimanis crude experienced reduced flows due to issues at an offshore platform.

OPEC members Iran and Venezuela, both under heavy US sanctions that target their oil exports, are exempt from having quotas under the agreement, as is Libya, which has seen much volatility in its production due to civil strife.

Combined, the three countries’ crude output was flat month-onmonth, according to the survey.

The Platts figures, which measure wellhead production,

are compiled by surveying oil industry officials, traders and analysts, as well as reviewing proprietary shipping, satellite and inventory data.

OPEC+ ministers plan to convene next on November 4 to decide on December production targets, while the OPEC+ supply accord calls for quotas to collectively rise 400,000 bpd every month, although that can be adjusted, if ministers see fit.

Despite the increases, the 19 members with production quotas under the OPEC+ supply accord were a combined 570,000 bpd below their allocations for the month, bringing compliance to 111.5 per cent.

The shortfalls contributed to what many analysts said was a tight market. Oil prices have surged in recent weeks, with dated Brent hitting three-year highs and key customers of OPEC+ crude, such as the US, calling for more supplies to tame the rally.

OPEC+ members with ample spare production capacity, such as Saudi Arabia, Russia and Iraq, did ramp up output in September.

In fact, Russia and Iraq both overproduced their quotas, according to the survey, and have been among the alliance’s least compliant members.

Russia pumped 9.86 million bpd, above its target of 9.70 million bpd, while Iraq surged to 4.18 million bpd, exceeding its allocation of 4.11 million bpd, the survey found. At 9.66 million bpd, an increase of 90,000 bpd over August, Saudi Arabia was quota-compliant.

Non-OPEC Kazakhstan also saw a major rebound in its production, with the end of heavy maintenance at its Tengiz field pushing its output up 110,000 bpd to 1.41 million bpd in September, according to the survey.

But several other countries faced significant disruptions to their operations, many due to damaged infrastructure.

Delegates have said that the continued inability of some members to produce at their quotas means that actual output levels likely will remain below what the deal has prescribed, which could delay what many analysts have forecast, of market oversupply as soon as January.

But in the short term, if oil prices keep going up, pressure could mount on the members

with spare capacity to produce more. Platts Analytics estimated that by the end of 2021, global sustainable spare capacity will fall to 2.5 million bpd, 97 per cent of which will be held by Saudi Arabia, the UAE, Kuwait, Russia and Iraq.

In July 2021, OPEC+ ministers agreed to raise production quotas by 400,000 bpd every month,

which puts the alliance on pace to fully taper its historic 9.7 million bpd output cut agreement by late 2022.

The quotas are determined from an October 2018 baseline production level, except for Saudi Arabia and Russia, which were given baselines of 11 million bpd.

Iran, Libya and Venezuela are exempt from the cuts.

Meanwhile, oil prices rose more than two per cent on Monday, extending gains as an energy crisis gripping major economies showed no sign of easing amid a pick-up in economic activity and restrained supplies from major producers.

Brent crude was up $1.70, or 2.1 per cent, at $84.09 a barrel, its highest since October 2018,

while U.S. West Texas Intermediate (WTI) crude rose $2.08, or 2.6 per cent, to $81.43 for its highest since late 2014.

Prices have risen as more vaccinated populations are brought out of coronavirus lockdowns, supporting a revival in economic activity, with Brent advancing for five weeks and U.S. crude for seven.

COURTESY VISIT…

L-R: An Official of Africa Development Bank (AfDB), Mr. Emmanuel Akinwumi;Principal Regional Integration Coordinator, AfDB, Mrs. Ometere Omoluabi-Davies; Managing Director/Chief Executive Officer, Wema Bank Plc, Mr. Ademola Adebise; Chief Portfolio Management Officer, AfDB, Mr. Dennis Ansa, and Head, Global Trade and Correspondent Banking, Wema Bank Plc, Mr. Adeola Ajai, during a courtesy visit of AfDB officials to Wema Bank in Lagos…recently

Former Council Boss Joins Lagos APC Chairmanship Race Segun James Former Mushin Local Government Area chairman, Mrs. Beatrice Tugbobo has indicated her desire to contest for the Chairman of the All Progressives Congress (APC) in Lagos.

The APC state congresses holds next Saturday.

Tugbobo who called for a

change in the party, said she was prepared to be the change.

A frontline politician in the state, Tugbobo, a grassroots politician and a community leader with vast experience, assured party members that she would turn around the fortune of the party if elected chairman.

According to her, “I am bringing my wealth of expertise,

experience, contacts and motherly touch to further advance the political fortunes and causes of the Lagos State Chapter of our great party the APC, without leaving any member behind.”

Widely regarded as a bridge builder, Tugbobo assured party faithfuls to change the, “status quo” by ensuring that everyone was carried along in the process of

the party’s business and processes.

Tugbobo stressed that the party needs a leader at the state level who is in touch with the people, adding that Lagosians are anxious to elect people with vision and purpose who would steer the party to greater heights and ensure that the younger generation will have something to look up to.

Ondo Begins Evacuation of Beggars from Streets Fidelis David in Akure The Ondo State Government has commenced the evacuation of destitute, beggars and urchins in Akure, the Ondo State capital.

The Secretary, Ministry of Women Affairs and Social Development, Mrs. Foluke Tunde-Daramola, told journalists during the evacuation exercise

that they had been posing security threats to the residents of the state.

“The sight of the people on the streets of the state capital has become a major concern, not only to government, but to residents.

“Those evacuated would be kept under government’s care for monitoring. Series of meetings has been held with various stakeholders in the state

to achieve the desired results.

“Before now, there was an interactive session between the Ministry of Women Affairs and Social Development and other stakeholders in Ondo State including the Head of Service, Mr. Niran Adeyemo and religious institutions to ensure that street urchins, beggars and destitute are taken off the streets.”

“Government would replicate same exercise across the major cities of Ondo State”, TundeDaramola added.

One of the evacuees, Mr. Muhammed Bello, pleaded with the Ondo State Goverment to rescind its decision, stressing that life could be difficult for them if they would be taking away from the streets.,

their positions before contesting during the recently concluded ward and local government congresses of the party to also do so immediately.

The directive was contained in a circular issued from the office of the Secretary to the State Government (SSG) yesterday, which was made available to journalists, where the state

Governor, Abubakar Sani Bello, gave the directive in line with the constitution of the APC. The statement requested that resignation letters by those concerned should be submitted to the Office of SSG “with immediate effect,” before enjoining them to comply with the directive in their own interest.

THISDAY learnt that some

top appointees are angling for the state chairmanship of the party in the congress to be held very soon.

Prominent among them in the race is the present state Commissioner for Agriculture, Alhaji Zakari Jikantoro, and the Special Adviser on Assembly Matters, Alhaji Abdulhamid El- Waziri.

Ganduje to Sign Judicial Resign Before Contesting Party Positions, Niger Govt Tells Political Appointees Financial Autonomy Bill, Others into Law Laleye Dipo in Minna

Ibrahim Shuaibu in Kano For effective administration of justice and judicial autonomy, Governor Abdullahi Umar Ganduje of Kano State has revealed that he would soon sign into law, Kano State Judiciary Funds Management (Financial Autonomy) Bill 2021.

Ganduje made this known during the occasion of Magistrates Association of Nigeria (MAN) Annual Week, 2021 held in Kano yesterday.

He said: “I am happy that the event is coming up at the time when the Kano State government is all set and ready to receive and sign into Law the three very important Bills forwarded by

the Kano State Judiciary to the Kano State House of Assembly for passage.These are Kano State Judiciary Funds Management (Financial Autonomy) Bill 2021, Kano State Magistrates, Sharia Court Judges and other Judiciary Staff (Harmonization of Condition of Service) Bill, 2021 and Kano Multi-Door Court Bill, 2021.”

Governor Ganduje assured all that as soon as the Bills are passed by the State Assembly, he would not hesitate to assent to them and ensure full implementation.

That, by passing the Bills into Law, “...our commitment towards ensuring the independence as well as the financial autonomy of the Judiciary be sustained.

The Niger State Government has directed political office holders interested in contesting the various party positions of the All Progressives Congress (APC) to resign from their positions immediately.

The government also advised those who did not relinquish

Fayemi Signs Ekiti Metal Health Services Law Victor Ogunje in Ado Ekiti

The Governor of Ekiti State, Dr Kayode Fayemi, has said his government would continue to protect people living with mental disorders in the state, saying this accounted for the enactment of the Mental Health Service Act, to guarantee them rights.

Fayemi said he believed strongly that catering for the needs of all members of our society regardless of physical, mental, or social status, is indicative of the level of our commitment to delivering Universal Health Coverage to the pioukace.

Fayemi, who signed the bill into law yesterday in Ado Ekiti,

maintained that the Act provides a framework to protect, provide care, and treat persons living with mental health disorders or substance abuse without hindrance.

He said”: “Mental health legislation is essential for protecting the rights of people living with mental disorders. Such persons are usually subjected to

stigma and marginalization which increases the likelihood of their human rights being violated.

“Mental health disorders can also affect a person’s ability to make the right decisions, hence the need to institute an enabling system that will cater to the needs of such persons, so they do not pose a risk to themselves or others.

TUESDAY, ͹ͺ˜ ͺ͸ͺ͹ ˾ T H I S D AY

38

TUESDAYSPORTS

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

0811 181 3083 SMS ONLY

First Goal in Seven Years Excites Leon Balogun Says: My first goal in seven years!

I have been looking forward so much for it and I am happy it finally came Duro Ikhazuagbe Scorer of Nigeria's first goal in the 2-0 defeat of Central African Republic on Sunday in Douala, Cameroon, Leon Balogun, has said he is excited to score his first goal in seven years.

The Glasgow Rangers defender made up for his slip in the first leg that resulted in the Wild Beasts lone goal defeat of the Super Eagles for the first time in a World Cup qualifying match in Lagos in 40 years.

Balogun opened scoring to inspire Nigeria avenge that embarrassment in the 29th minute to steady Eagles’ march to qualifying for the 2022 World Cup in Qatar.

The Rangers central defender popped up at the end of a long, searching ball by Chidozie Awaziem to break the deadlock in Douala, Cameroon last Sunday afternoon.

In the Air Peace flight back to Lagos after the victory in Douala, Balogun admitted that he has for long looked forward to scoring a goal at least in the last seven years.

“My first goal in seven years!

I have been looking forward so much for it and I am happy it finally came, and on a day like this,” gushed the lanky half of Nigeria’s ‘Oyinbo Wall.’

Victor Osimhem doubled Eagles lead in first half stoppage time to hand Nigeria the 2-0 win against

CAR’s Wild Beasts.

The concluding round of matches (Day 5 and 6 games) of the second phase of the Qatar 2022 race are in November.

The Eagles will travel to Monrovia to play Liberia, while Central African Republic fly to Mindelo to tackle the Blue Sharks on Day 5.

On the final day, Nigeria will host Cape Verde in Lagos while Liberia fly to Douala to play Central African Republic.

Nigeria lead Group C on nine points, two above Cape Verde who scored a last minute winner to defeat Liberia 1-0. CAR are on four points with Liberia on three points at the bottom of the standing.

Abuja Stadium Pitch Ready for Inauguration Next Month Olawale Ajimotokanin Abuja

Leon Balogun... excited by first goal for Nigeria in seven years

Organisers Hail Opening Ceremony Turnout, Standard Organisers of the ongoing Delta State Principals’ Cup sponsored by Zenith Bank have commended the opening ceremony of the tournament which took place last week at St Patrick’s College, Asaba.

Westend Mixed Secondary School defeated Niger Mixed Secondary School 5-1 in the thrilling fixture that showed interesting contest by both sides.

The Secretary to Delta State Government, Chief Patrick Ukah, who represented Governor Ifeanyi Okowa at the opening ceremony was overwhelmed by the standard exhibited by both sides.

Ukah said: “If the opening

Z E N I T H / D E LTA P R I N C I PA L S ’ C U P match is like this, you can imagine how the competition will be in the later stage. We expect a good contest and I am sure we will have some future national team players from this event.

“We thank our partners, Zenith Bank for putting smiles on the faces of the participants,” he noted.

The Chief Executive Officer of Hideaplus, the organizing body for the event, Tony Pemu, also hailed the opening event.

Pemu said: "I'm happy with the turnout and the success of

the opening ceremony, I want to congratulate the schools and the players for their display today. It shows that we have to keep the mind of these children working.

“It has also helped to foster unity between schools no matter the class of group you belong. Seeing these children that come from various backgrounds playing together means a lot more to us and the society.

"These kids are not just playing for the fun of it, they know that there is trophy and

a lot of things to be won at the end. The school that emerged winners at the end will smile home with an 18-Seater bus, including medals and other consolation prizes. So they are very happy being part of this event.”

The Hideaplus boss showered praises on the Delta State Government and the sponsors, Zenith Bank for creating the enabling environment for the youths to express themselves.

“The Commissioner for Secondary School Education, Mrs. Rose Ezewu, has been of tremendous assistance. We are confident of a good event,” Pemu added.

Topflight football can now be played on the turf of the Moshood Abiola National Stadium, Abuja after the contractor re-grassing the pitch assured stakeholders that it will be ready for inauguration next month.

The Executive Director of Aron, Adeniyi Adesoji gave the assurance yesterday when he along with the Director of Facilities, Stadium Development, Baba Kobi, guided journalists on a tour of the ongoing project.

The reconstruction of the pitch and other facilities at the stadium was being undertaken by business mogul, Alhaji Aliko Dangote.

Adesoji said that the project, which was initiated in August last year and projected to be handed over in March this year was undermined by several hitches.

He said the underground drainage had collapsed for several years before Aron took over the project in addition to other additional issues which took about three months to fix.

“The grass as you can see is in advanced state, which we hope that by next month, we

are going to hand over to the Minister (of Youth and Sports).

But right now, we are under what you call the maintenance stage. Maintenance in the sense that some of you feel the undulation of the pitch, which is what we call top dressing and it is what we are going to correct as we go along,” Adesoji said.

A special breed of grass known as pure dynasty paspalum grass which is cloned in Qatar and being put into use for the first time in Africa is planted on the National Stadium pitch.

“If you look at the National Stadium here also, part of it is that the grass does not do well as the cover is always under shade. Now, you need a grass that can go through such conditions and still give you the lush green. And that is where we are today and by the time we get to the maintenance period, we hope we will get everything done,” he said.

Apart from the grass, he said the renovation of the Stadium Scoreboard is 100 per cent done. According to him, the scoreboard is capable of recording play back and broadcasting to the outside world.

39

TUESDAY, ͹ͺ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Messi Scores 80th Goal to Make South American History Lionel Messi became the first South American to score 80 international goals as his Argentina side beat Uruguay in World Cup qualifying.

Captain Messi opened the scoring for his side with a floated cross that somehow evaded the goalkeeper.

Rodrigo de Paul doubled Argentina's lead before halftime, with Lautaro Martinez adding a third after the break.

"We played a great game.

Everything worked out perfectly," said Messi.

"Uruguay wait for you and they generate danger. Once we got the first goal we started to find space and the goals appeared."

Argentina are now 24 games unbeaten and their latest win keeps up the pressure on Brazil in South America's World Cup qualifying group.

The victory narrows the gap between Brazil and secondplaced Argentina at the top of the 10-team group to six points, after Brazil drew 0-0 with Colombiaearlier on Sunday.

Aubameyang on Target in Gabon’s Defeat of Angola WORLD CUP QUALIFIERS Captain Pierre-Emerick Aubameyang scored as Gabon defeated Angola 2-0 in Franceville yesterday to register their first win in Group F of the 2022 World Cup qualifiers.

The Arsenal striker lashed in a back-post volley in the 74th minute and To Carneiro's own goal doubled the Panthers' lead six minutes from time.

Gabon move on to four points in the table and leapfrog Angola, who have three points. Leaders Egypt on seven points had a later fixture against second placed Libya on six points later last night.

Elsewhere, Cameroon shrugged off a delayed arrival in Morocco to beat Mozambique 1-0 in African qualifiers.

Centre-back Michael NgadeuNgadjui netted the winner in the 68th minute to move the

Indomitable Lions to the top of Group D, two points ahead of Ivory Coast.

Logistical issues had caused delays leaving Douala, which meant the Cameroon squad only landed in Tangier less than 12 hours before kick-off.

Mozambique's defeat means Horacio Goncalves' side can no longer qualify for the World Cup. Côte d’Ivoire can regain top spot in the group if they beat Malawi in Cotonou, Benin, later.

Only the group winners will reach next March's play-offs, where Africa's five representatives in Qatar will be decided.

Mozambique and Ivory Coast are among 11 countries who have been ordered by the CAF to play home games on neutral soil because local stadia are unfit for use.

Lionel Messi...reaches another milestone with Argentina

Ujiri’s Giants of Africa Unveiling More Basketball Courts in Lagos

Pierre-Emerick Aubameyang...on target for Gabon

Masai Ujiri, Vice-Chairman and President of the Toronto Raptors and Giants of Africa founder, will in continuation of his enriching the lives of African youth through sports unveils the Oworonshoki Basketball Court built by him in the Olopomeji area of the Oworo Expressway in Lagos.

Earlier yesterday, the Giant of Africa Foundation Kick started the handover of the four basketball courts built by the foundation with the unveiling of the one at Ijeshatedo Grammar School on Dibor Street, Lagos

Tomorrow, it will be the turn of the two new basketball court at the Ilupeju Grammar School and the unveiling of a new practice court for the Lagos Warriors professional basketball team with head coach Colonel Sam Ahmedu (rtd) and local community leaders in attendance.

Ujiri’s unveiling of the new courts are part of the foundation’s Built Within initiative, a multiyear investment in building and refurbishing 100 courts across the continent.

“I am so pleased that Giants

New Nigerian Players’Union Unveiled in Lagos Dissatisfied with the running of existing players’ unions in the country, some ex-internationals and former national league players have launched a new body to change the narrative.

Speaking at the White House Hotel and Suites on Toyin Street, Ikeja on Sunday afternoon, Conveners of the new All Nigerian Players Union, Chikelue Iloenyosi and Larry Kubeinje said that they were not out to antagonise anyone but to usher in a new era for past and present Nigerian footballers.

"We're not forming the union for any selfish interest nor to rival any group. All we want to do

is to change the narratives of how players’ union is suppose to operate.

"You know in the past, we've had one players union or the other but some people use it for their own personal interest and a platform to antagonise the football house and that's what we want to change,” chorused the duo who were flanked on the high table by such ex internationals as Julius Aghahowa, Friday Ekpo and Monday Kanu.

Iloenyosi insisted that instead of looking for ways of solving some of the many problems afflicting ex-internationals, “what we see everyday is antagonistic attitudes.

I no longer want to associate with those who are against the progress of Nigerian football and footballers.”

He admitted that the new players’ union was ready to partner the Nigerian football federation.

"Our union is going to partner the NFF and other international football bodies to ensure proper development of the country's football as well as ensure that players’ welfare is given the necessary attention it deserves.

"We're also going to pursue vigourosly the issue of group life insurance and pension fund for players as is done in other

climes so that when players retire from active football, they'll have something to fall back on and start a new life," the conveners said.

President of Super Eagles Supporters Club, Prince Vincent Okumagba, who was present at the event, described the new players’ union as group of committed patriots who should be trusted by all Nigerians with a promise that his organisation will work in harmony with them to improve the condition of ex-internationals.”

Also at the event were former footballers like Monday Odiaka, Bethel Orji, Shola Agbayewa amongst others.

of Africa has continued to show their firm commitment to developing talent in Nigeria,” said Ahmedu. “As someone whose life changed when I was introduced to the sport through happenstance, I know how imperative it is that we expose as many kids as possible to what’s out there. These courts are a great way to ensure that we foster as much potential as possible in our communities.”

Historically, one of the most difficult challenges for athletes in Nigeria, and throughout all of Africa, is the lack of quality facilities and equipment to foster their talents.

“The talent is there,” said Raptors’ forward and Nigerian Precious Achiuwa. “It’s about continuing to grow the game and providing the next great wave of young African players the coaching, facilities and equipment required to better themselves.”

“The African continent, and Nigeria specifically, is teeming with raw talent,” Ujiri agreed.

“As we see more and more players drafted into the NBA from Nigeria, it’s never been more clear how much the continent needs this investment to find the next generation of stars-- both on the court and off.”

Since 2003, Giants of Africa

Masai Ujiri...giving back to help talents in Africa has used sport to help empower youth to dream big, hosting basketball camps and clinics for boys and girls in 17 countries across the continent.

Last month, Giants of Africa launched the 100-court initiative and unveiled facilities in Kenya and Tanzania. Over five more courts will be unveiled in October and November throughout Nigeria, Burkina Faso (sponsored

by IAMGOLD) and the Ivory Coast.

Select courts in Nigeria and Burkina Faso are also made possible with support from Project Tseigh (PjT), who provided solar panel light installations.

Tuesday October 12, 2021

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Price: N250

MISSILE Bakare to National Assembly

“I am fully persuaded, as are many fellow compatriots within and outside Nigeria, that the 1999 Constitution, whether as amended, or to be further amended by the National Assembly, is nothing more than a glorified death certificate. How, then, can anyone hypocritically insist that our unity is non-negotiable? Did we not negotiate it in 1960 and 1963?”

–– CGCC Pastor, Tunde Bakare, on ‘State of the Nation’, announcing the N4N Movement, to rescue Nigeria.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Tinubu: Return of the “Jagaban” I

t is a measure of the importance and relevance of the man known as Asiwaju Bola Ahmed Tinubu that since the return to civilian rule in 1999, he has managed to remain a major reference in the politics of Lagos State, the South West of Nigeria, and parts of the West African sub-region. He could be described as one of those creations of the tumultuous moments in Nigerian history following the annulment of the June 12, 1993 Presidential elections in Nigeria. Before then, Tinubu was a regular technocrat working in an oil company as a Treasurer. He also served briefly as a Senator of the Federal Republic representing Lagos South West in 1992. History transforms people and creates enduring magic, lumping together event, identity, and symbolism in a notable capsule.

Tinubu joined the June 12 struggle as activist, mobiliser and financier. Like most young men of his generation at the time, he wanted the best for Nigeria. He was opposed to the tyranny and the injustice perpetrated by the military. He joined the protesters at the barricades. In a country where the majority feared the military, Tinubu was one of those who stood up in defence of the values of justice, equity and national progress. I was a witness to the history of the period and the narrative of Tinubu’s becoming.

In 1999, he was justly rewarded by the leaders of the Alliance for Democracy (AD), the emergent, dominant political party in the South West, as well as the people of Lagos, with the Governorship of Lagos State. With that, a political phenomenon was born. Tinubu is in a firm position to write a book of great value on the intrigues and risks of politics in Nigeria. But unlike many, he has demonstrated a high degree of capacity for survival and re-invention. The man has managed over the years to overcome every obstacle placed in his path, and wax stronger. His travails have been many including the drama over the discrepancies in his INEC form, his age and educational qualifications, allegations about his real identity, the plans to remove him from office, disagreements with the then Federal Government led by President Olusegun Obasanjo, and the boldness with which he took on the formidable General on the field and in the law courts over controversial constitutional issues.

One after the other, Tinubu fought every battle and stood firm. In 2003, he was the only survivor in office, the last man standing, as the ruling party seized control of the South West. This alone, and the manner in which Tinubu consolidated his growing reputation as a political strategist in Nigerian politics further brought him to public attention. He not only got a second term as Governor, ending his tenure in 2007, he has also earned a place for himself in the politics of Lagos State by having a say in determining the tone, direction and rhythm of Lagos State politics since then, same in the South West and beyond. No other politician in recent South West Nigerian politics has exercised such mythical hold on the politics of a people and region.

Before him, there was Chief Obafemi Awolowo, the nationalist who became the symbol of the aspirations of his people in the Nigerian Federation.

There was also Chief MKO Abiola: the icon and martyr whose heroism and sacrifice served as foundation and catalyst for Nigeria’s return to democracy and the exit of the military. And Chief Olusegun Obasanjo, the soldier turned democratic ruler who is one of the most important men of his time. And then Tinubu happened and grew bigger, to the utter consternation of even his fiercest critics. By 2011, it had become near-impossible for anyone to become Governor in the South West or President of Nigeria, or anything at all in Lagos State from Councillor to Controller of Motor Parks, without the Tinubu factor or a trip to Bourdillon.

Tinubu

In 2014, he was the main spirit behind the coalition that led to the formation of the All Progressives Congress (APC), and that party’s eventual triumph that led to the displacement at the centre, of the Peoples Democracy Party (PDP) which up till that moment had ruled Nigeria for 16 years.

Tinubu has been many things to many people.

It is not for nothing that he is regarded as the “Lion of Bourdilllon”. He lives on Bourdillon Road, a well-appointed street in the Ikoyi quarters of Lagos. It is widely agreed that Tinubu’s home in Bourdillon is where every major decision about Lagos politics is taken. It is the political headquarters of Lagos whereas Alausa in Ikeja is the administrative headquarters of the state.

The Governor of Lagos State is like a Viceroy, representing the interests of and carrying out the wishes of the Lion of Bourdillon. Whoever dares the “Lion” does so at his or her own peril. Tinubu has exercised such powers over the politics of the state that used to be the federal capital of Nigeria and certainly the country’s commercial centre, with near-absolute magisterial certainty.

He is the Godfather, the head of an inner circle of power brokers with tentacles beyond what the ordinary man can imagine. He is the Jagaban. He has other Chieftaincy titles including the Asiwaju which simply means “Leader” but whereas he shares other titles with others, whereas there are others who go by the descriptions: of Godfather, or Asiwjau his is the only name that is immediately thrown up when the title of Jagaban is mentioned.

Jagaban in popular Hausa-Nigerian expression means “a strong person who is unshakeable, a champion and a leader who others follow.” Tinubu is the Jagaban of Borgu. Of all the titles that he has been decorated with, this has been the most reflective of his persona. He himself has been quoted as saying: “Ï am the Jagaban..” There is an onomatopoiec ring to the sound of the name that literally makes it invocative. Tinubu and his allies have deftly turned that sound into a call-sign. We are dealing with a man and a persona, a political figure whose methods and style deserve a full study, in terms of impact and essence.

The extent to which this may be worthy, was demonstrated in the last three months with the relocation of the Jagaban to the United Kingdom for a knee surgery and the time he spent there to

recuperate. Afresh, Tinubu became all over again, a person of interest. There were rumours that he had died. But that was quickly debunked. He was also accused of seeking medical help abroad whereas if he and his allies had helped to build a world-class health infrastructure in Nigeria, he and other members of the privileged elite would not have needed to waste scarce foreign exchange to strengthen the medical systems in Europe at the slightest rumble of their ear-drums. Tinubu’s medical trip should be further read in the context of the fact that his supporters have been busy at home and abroad promoting him as the best man for the Presidency of Nigeria in 2023. His posters have been on the streets of Lagos, although the Independent National Electoral Commission (INEC) is yet to announce a timetable for the commencement of 2023 political campaigns and political parties are still busy discussing the politics of zoning and power rotation.

Many groups have also emerged with the loudest being the Tinubu Support Group, The Nigeria Diaspora for Asiwaju and the South West Agenda for Asiwaju Tinubu (SWAGA), dancing and drumming all over the place. Key voices in civil society have been on record trying to sell the Tinubu candidacy to Nigerians. In a demonstration of desperation, Tinubu’s allies turned his period of convalescence in London into another opportunity for political campaigns and the deification of the man they regard as their Godfather. Tinubu’s place of abode in London became a place of pilgrimage. For more than a month, Nigerians were treated to photos, practically on a daily basis, of persons trooping to London to pay homage to the Jagaban. Men. Women.

Politicians. Business leaders. Delegations from different parts of the country. British Immigration must have been wondering how and why one man received so many visitors from Nigeria. Despite COVID-19 and the travel restrictions. And the cost of travel at a time like this. Those get-well visits had the colouring of sheer sycophancy and hypocrisy, but no one wanted to be left out. I didn’t see one or two APC Governors from the South West though, some Ministers, and some of those people who have quietly distanced themselves from the song and dance about a likely Tinubu Presidency. I was afraid, however, that at some point Lagos market women and motor park touts led by their Gucci-wearing leaders would also show up in London.

Tinubu’s managers themselves kept the records dutifully, capturing everything on video and releasing the copies for dramatic effect. The President of Nigeria visited too. No one was meant to be in any doubt about the stature of the man whose knee surgery had become a rallying point for political solidarity. The most telling perhaps was the APC delegation from the National Assembly that went all the way to London to greet their party leader. On that occasion, one of the visitors actually referred to Tinubu as “Mr. President!”

You can’t ever put anything past Nigerians. In other parts of the world, the knee is a powerful statement of affirmation. In contrast, we saw many Nigerian leaders kissing Tinubu’s knee as political talisman.

But the man is back. He returned quietly at night a few days ago. Last Friday, to be specific.

The arrival time must have been carefully chosen in order not to disrupt traffic in the city of Lagos.

How thoughtful. But in these days of instant news, nobody needs that old-fashioned, attention-grabbing style anymore. Before Tinubu completed immigration processes at the airport, long before he could get to his home in Ikoyi, Nigerian social media had been informed of his arrival, with compelling photographic evidence. The Governor of Lagos

State was at the airport to receive the Jagaban specially and personally. I was woken up from sleep to be reminded that “Ëko had returned!”

“Eko”, that is the Yoruba name for Lagos. Tinubu had become so powerful that his allies have long substituted his name with that of Lagos, or they use both, one for the other; simultaneously. When Tinubu goes to bed, it means in the imagination of his allies that the entire city had gone to bed.

When he wakes up in the morning, that is when Lagos wakes up, they say. The only people who say this is not the case are those groups where they say all kinds of negative things about the APC chieftain, and yet since 1999, they have not been able to displace him.

What is Tinubu’s staying power? Will a day ever come when he and his allies would be told in Lagos that “O to o gee?” And when will that happen? The Tinubu strategy of political dominance is the secret wish of many of his critics, but what is it that they lack that Tinubu deploys seemingly effortlessly? If Tinubu manages to win the APC Presidential ticket and emerges as Nigeria’s next President, the political future of many in the South West and the South generally may have been sealed forever. It is not for this reason however that I have been critical of the Tinubu ambition which has been expressed more by proxy. I do not think that the North wants to leave the throne to allow a Southern President take over in 2023. In Nigeria, the Presidency is a throne. The President is a monarch of sorts. The divine right of kings means that they can do as they wish. Tinubu is so involved in the Nigerian project, his critics would consider his possession of the biggest prize in the land an act of self-immolation for them. If Tinubu insists on running for President, he would also have sealed the political future of many of his associates who are also interested in the position but would not dare say so publicly if the Godfather is involved. I smell a rat. Is Tinubu playing a tactical game, the full details of which may be unraveled soon?

On Sunday, October 10, the Lagos State Governor, Babajide Sanwoolu hosted a welcome-back event for the Jagaban at the Lagos House, Marina, Lagos.

The ThisDay Newspaper of October 11, at page 6, captured the spirit of the welcome party with a photo captioned: “Gathering of Tinubu Boys”.

This is a picture that contains the faces of Speaker of the House of Representatives, the state Deputy Governor, the Speaker of the Lagos State House of Assembly, members of the state Executive Council, and a member of the Governor’s Advisory Council.

Boys! Tinubu also reportedly staged a small gig of his own where he attended to the party faithful.

Whatever happens with the hustle and jostle for the 2023 Presidential election, the Jagaban of Lagos may have succeeded in positioning his home in Bourdillon, Lagos as a major rendezvous as the game unfolds and he may never at the end of the day throw his hat into the ring. If that were to be the case, what then would happen to the SWAGA crowd? What will they eat? But of course, Nigerian politicians are shameless. They will adjust as the wind blows and make a case for their swagger as the tide changes.

Two parting shots for Tinubu: beyond the dancing, singing and photo-ops, as he returns home, he should check the roof of the party he helped to build. His roof is leaking. The APC is standing on one leg, and that has been so since the Ondo State Gubernatorial case. Can he and his associates harmonize the party? This may affect his own political future. And really, can it be said today, that Tinubu is still in control of the South West? The Jagaban should listen sometimes to his critics and less to the eye-service million men at his door.

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