WEDNESDAY 18TH OCTOBER 2023 by THISDAY Newspapers Ltd

Shettima: Strategic Partnership Between Nigeria, China, Key to Africa's Development Says Tinubu's foreign policy drive boosting investors' confidence

Deji Elumoye in Abuja

Vice President Kashim Shettima has stressed the need to scale up

Nigeria's strategic partnership with China, which he said was key to Africa's development. Shettima, pointed out that

since assuming office, President Bola Tinubu has strategically tinkered with the country's foreign policy to drive and boost investors'

confidence. To augment this, the Vice President, according to a statement issued by his Media Assistant,

Stanley Nkwocha, noted that Tinubu has walked the talk by creating levellers for the ease of doing business in Nigeria.

Shettima, who was representing Tinubu at the ongoing Belt And Continued on page 16

Media Certification Board to Licence Journalists in Nigeria... Page 37 Wednesday 18 October, 2023 Vol 28. No 10416. Price: N250

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Declare Emergency on Drugs, Narcotics Abuse in Nigeria, Senate Urges President... Page 34

US President Biden Visits Israel Today as Hundreds Die in Gaza Hospital Bombings Kingsley Nwezeh in Abuja with agency reports

An Israeli air strike that killed 200-300 people in Al Ahli Baptist Hospital in Gaza,

according to Palestinian authorities, has raised the specter of a regional confrontation as

President Joe Biden arrives Israel today. The US government, which

also ordered the deployment of 2000 Marine Rapid Response Squad to Israel to comple-

ment other military assets in Continued on page 16

FG’s Subsidy on Electricity Returns, Now N135bn in Q2

Adelabu: Nigeria needs about $262bn investments to meet 30,000MW power generation target by 2030

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The federal government’s subsidy in the power sector hit N135.2 billion in the second quarter of 2023, from the N36 billion it paid in the first quarter, contradicting the last administration of Muhammadu Buhari that it ‘quietly’ removed the monthly payments. The development emerges, just as the Minister of Power, Chief Adebayo Adelabu, has stated that Nigeria would require investments worth about $262 billion to be able to achieve its ambitious target of expanding electricity generation capacity to about 30,000 megawatts (MW) by 2030. According to the new quarterly report by the Nigerian Electricity Regulatory Commission (NERC), the N135.2 billion recorded in the second quarter of 2023, was an increase of N99.21 billion or 275 per cent compared to the Continued on page 16

The women are here...

L-R: Head of Civil Service, Folashade Yemi-Esan; Minister of State for Labour, Nkiruka Onyejeocha and Minister of Industry, Trade and Investment, Doris Anite, at the PHOTO: GODWIN OMOIGUI second Federal Executive Council meeting held at the Presidential Villa, Abuja…Monday

Babachir: Obi Won 2023 Presidential Poll, Tinubu Came Distant Third... Page 36

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

NEWS

LAUNCH OF RENEWED HOPE CONDITIONAL CASH TRANSFER...

L-R: World Bank Country Director for Nigeria, Shubham Chaudhuri; Minister of Finance and Coordinating Minister of Economy, Wale Edun; Secretary to the Government of the Federation, George Akume and Minister of PHOTO: GODWIN OMOIGUI Humanitarian Affairs and Poverty Alleviation, Betta Edu, at the launch of the Renewed Hope Conditional Cash Transfer held at the Press gallery of the Presidential Villa, Abuja…yesterday

AfDB, AGF Boost Women Access to Finance with $1.2bn Facilities

Dike Onwuamaeze

The African Development Bank (AfDB) in collaboration with the African Guarantee Fund and other donor countries, has approved $1.2 billion for on-lending to women-led enterprises in 32 countries across Africa since the launching of Affirmative Finance Action for Women in Africa (AFAWA) two years ago. This was revealed yesterday, in Lagos, by the Vice President for Agriculture, Human and Social Development, AfDB, Dr. Beth Dunford, at the kick-off AFAWA Finance Series in Nigeria, to unlock financing for women entrepreneurs. The AFAWA Finance Series (AFS) is a component of the AfDB’s initiative that brings together government representatives, policy makers and financial institution leaders to offer an introduction to AFAWA’s partnership services for the Nigerian market. The AFAWA also included a risk-sharing mechanism and capacity development assistance that enabled financial institutions to increase their appetite to lend to women SMEs. The Lagos event followed previous AFAWA Finance Series that were held in Tanzania, the Democratic Republic of the Congo, Ghana and Angola. Dunford said: “Together, we are starting to reduce that massive gen-

der financing gap. Earlier this year, Africa Development Bank reaching a milestone $1.2 billion in approved funding for loans. Via the AFAWA program and its partnerships with almost 100 financial institutions, that financing will reach more than 7,000 women entrepreneurs across 32 African countries.” She added that in Nigeria, “there is a real opportunity for scale. MSMEs enterprises make up more than three-quarters of Nigeria’s workforce. With the right support, they have the potential to accelerate the country’s progress towards its economic development goals.” Speaking during the opening ceremony, the Minister of Finance, Mr. Wale Edun, who was represented by the Acting Permanent Secretary/ Director Economic research and Policy Management Department, Federal Ministry of Finance, Mrs. Grace Ogbonna, said thapp, “the topic of women's empowerment is one that demands our attention, our commitment, and our collective efforts to ensure that women have equal opportunities so as to fully participate in our nation's economic growth. “Women constitute a substantial portion of our population and their full and equal participation in the economy is not just a matter of social justice but it is also one of

economic parity.” Speaking on the AFAWA, the Group Chief Executive Officer of African Guarantee Fund (AGF), Mr. Jules Ngankam, said “in Africa, 70 per cent of women are excluded financially, including in the areas of access to credit, land ownership, job opportunities, leadership positions and wealth creation. These imbalances have been one of the factors limiting Africa from reaching

its full potential.” Ngankam, also commended the government of Nigeria for taking steps in promoting women-led small and medium enterprises and noted that the AGF through the AFAWA initiative is eager to collaborate with the government and policy makers to further transform the environment to make it more conducive for women entrepreneurs. In his remarks, the Director

and Recording Artist and CEO/ Founder of Mover Networks, Akitoye ‘Ajebutter22’ Balogun, were panellists at the event who spoke on the topic: ‘Personal Finance: Wealth Management in Today’s Economy’. “As business owners, we need to see money as a tool rather than a goal. Money is a moving target, and we need to ensure discipline in our spending habits. "Savings is a culture that should be imbibed, as your little savings today could help to do something big tomorrow,” Omofaye stated, as he also emphasised the need for diversification in making financial decisions. On her part, Oginni advised customers and business owners

little over two years ago, the initiative has approved $1.2 billion for on-lending to women-led enterprises in 32 countries across Africa.” This high-level conference would be followed by a two-day training that would enable banks to introspect on their product and service offerings through a gender smart lens and therefore better address the needs of women entrepreneurs.

FG to Commence Vaccination against Cervical Cancer Next Week, Approves Gardasil Vaccine Onyebuchi Ezigbo in Abuja

The federal government yesterday said it was set to commence the vaccination of young girls between the ages of 9 and 14 years with single dose Gardasil vaccine next Tuesday, as part of the routine immunisation against cervical cancer. The deployment of the HPV vaccine to prevent the Human Papillomavirus (HPV) infection among young females in the country followed the approval granted by the National Agency for Food and Drug Administration and Control, (NAFDAC) on use of Gardasil vac-

cine as single dose in the routine immunisation against cervical cancer Speaking at a joint press briefing with the Director General of NAFDAC, Prof. Mojisola Adeyeye, in Abuja, the Executive Secretary of the National Primary Health Care Development Agency (NPHCDA) , Dr. Faisal Shuaib, said the commencement date for the deployment of the HPV vaccine would be Tuesday, October 24, 2023. He explained that HPV vaccine has been scientifically proven to be safe and effective in preventing HPV infection and reducing the risk of cervical cancer

At UBA Business Series, Financial Experts Emphasise Discipline, Consistency as Tips for Wealth Mgt Financial experts have advised Small and Medium Scale Enterprises (SMEs) owners and operators on essential tips that would help them create and manage their wealth successfully especially in the tough economy and business climate. Speaking during the United Bank for Africa (UBA) Business Series hybrid event at the bank’s Head office in Lagos, recently, the financial experts and entrepreneurs noted that discipline, consistency and diversification are key requirements for wealth management. The Chief Executive Officer and Executive Editor, Frontier Africa Reports and eminent television host, Boason Omofaye; Managing Director/CEO, United Capital Asset Management Plc, Odiri Oginni

General for AfDB Nigeria Country Department, Mr. Lamin Barrow, said the bank’s AFAWA initiative seeks to increase women’s access to finance in the continent by closing the $42 billion financing gap for women-led small and medium enterprises. He added: “Our goal is to mobilise $5 billion in financing for African women-led businesses by 2026. Since we launched AFAWA

at the event to ensure financial independence, as she explained that building personal wealth means investing in the future. “The best way to master discipline is just to start. Do not wait till you have all the funds you need because that time may never come. Just start small, and be consistent in doing this,” she said. Akitoye, advised business owners on the need to set goals, and ensure that they stick to the goals as much as possible. “Even if you do not have adequate funding for your business, make sure you have a plan, having a good business plan could very well attract investors into your business,” he noted. Together, all the speakers at the

event noted that keeping abreast with current and correct information was vital for small business owners, as they pointed out that the knowledge could help business owners to guard against financial recklessness which can be a huge problem for the SMEs if not avoided. Earlier, while welcoming the panellists and participants to the event, Head, Transaction Banking, Osilama Idokogi, explained that the UBA Business Series was a regular capacity building initiative organised by the bank where business leaders and entrepreneurs gather to share insights on best business practices and how entrepreneurs can build a sustainable business empire especially in Africa’s challenging business environment.

Shuaib said: "This vital vaccine introduction will occur in two phases. The first phase will encompass 16 states, including Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Enug Jigawa, Kano, Lagos, Nasarawa, Ogun, Osun, Taraba, and the Federal Capital Territory Abuja. "The second phase is scheduled for the first quarter of 2024 and will encompass the remaining states: Borno, Cross River, Delta, Ebonyl, Edo, Ekiti, Gombe, Imo, Kaduna, Katsina, Kebbi, Kogi, Kwara, Niger, Ondo, Oyo, Plateau, Rivers, Sokoto, Yobe, and Zamfara. "In each phase, we will initiate a five-day campaign encompassing schools, communities, marketplaces, government-owned health facilities and other public places, targeting girls aged 9 to 14. "Subsequently, we will continue routine vaccination within health facilities for the same age group. By 2025, we anticipate transitioning to full routine Immunisation with the HPV vaccine, focusing on girls aged nine," he said. HPV infection has been identified as a high-risk factor, implicated in 95 per cent of cervical cancer cases According to Shuaib, Nigeria alone contributes an estimated 12,075 new cases of global cervical cancer annually. He said with 12,000 new diagnoses and 8,000 lives claimed each year, it translates to 33 new cervical cancer cases and 22 deaths every day in the country, adding that in Nigeria, one precious life was lost every hour. He said his agency was going to work with other partners to carry out a nationwide sensitisation campaign

towards encouraging girls to take the HPV vaccine. On her part, NAFDAC's DG said Gardasil vaccine had been granted registration approval by the agency after rigorous regulatory evaluation process for vaccines. She said the use of Gardasil as a single dose was granted following receipt of data from immunogenicity trials, post-hoc analyses of efficacy trials, and post-licensure observational studies among females who have demonstrated that a single dose of HPV vaccine is sufficient to elicit an immune response that provides similar protection as a multi-dose regimen against initial and persistent HPV infection. Adeyeye, lamented that Nigeria has one of the highest cervical cancer incidence and mortality rates in the continent, with an estimated 15,000 new cases and 10,000 deaths annually. She said several factors contribute to the high disease burden of cervical cancer in Nigeria, such as low awareness, poor screening coverage, limited access to treatment, and high prevalence of human papillomavirus (HPV) infection. "The decision to deploy the off-label Gardasil as a single dose schedule is based on the scientific evidence that shows that a single dose of Gardasil vaccine can provide solid protection against cervical cancer caused by human papillomaviruses (HPVs). "In line with its mandate to protect Public Health, NAFDAC is committed to ensuring the safety, quality and efficacy of the Gardasil vaccine, and will continue to monitor its impact and performance in Nigeria," she said.

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NEWS

23rd National Women’s Conference...

L-R: Wife of the Senate President, Mrs. Unoma Akpabio; the First Lady of Nigeria, Senator Oluremi Tinubu; Lagos State Governor, Mr Babajide Sanwo-Olu; his wife and the Chairman, Committee of Wives of Lagos State Officials (COWLSO), Dr. Ibijoke Sanwo-Olu and wife of the Chief of Staff to the President, Mrs. Salamatu Gbajabiamila during the opening ceremony of 23rd National Women’s Conference organised by COWLSO, themed: “Unleash Your Potentials” at the Eko Hotels and Suites, Victoria Island, Lagos ... yesterday

REA, Mini-grid Developers Seal Deal to Ramp Up Small-scale Power Generation Nationwide Emmanuel Addeh in Abuja The Rural Electrification Agency (REA) yesterday signed a Memorandum of Understanding (MoU) with the Africa Mini-grids Developers Association (AMDA) to accelerate the development of small-scale electricity in parts of the country. The implementation of the agreement, the parties said, will focus on knowledge sharing, capacity building and better coordination of the sector in Nigeria. The REA is the implementing agency of the federal government of Nigeria tasked with the electrifica-

tion of unserved and underserved communities to catalyse economic growth and improve quality of life for Nigerians. On the other hand, AMDA an industry association created by private sector mini-grid developers and operators, donors, and investors, has 43 member companies operating in 20 countries in Africa. The companies have a combined portfolio of around 600 mini-grids. Speaking at the event in Abuja, the Managing Director of the REA, Mr Ahmed Salihijo, said the partnership involving the public and private entities underscored the importance

of decentralising renewable energy to power the lives and livelihoods of those living in unserved and underserved areas. “The importance of this collaboration cannot be overstated. This country has a population of over 200 million people and the use of mini-grids can be a very good solution to power Nigerians across all communities. “Therefore, this MoU does signify a very big commitment both from ourselves and from AMDA for the sustainability of the mini-grid sector. We have realised more and more that government alone cannot achieve

the herculean task of electrifying every Nigerian in the country. “Together, we can promote renewable energy sources. We will also work with you to create policies where we can support these goals, facilitate research and provide everyone with access to affordable and clean energy,” he stated. Salihijo stressed that the mission of both organisations goes beyond electrification, noting that it also involves the lives and the people of Nigeria.He maintained that the deal will come with clear deliverables and actions that will add value to the sector.

NAFDAC Orders Certification of All Products for Export Laments lack of data on product export Onyebuchi Ezigbo in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) has said henceforth all exporters of goods and products regulated by the agency must obtain necessary certifications for processing of their products. NAFDAC also revealed that a total of 68 products exported to the United Kingdom (UK) between January and June this year, were rejected by the UK authorities based on poor standards. NAFDAC's Director-General, Prof. Mojisola Adeyeye, who gave this charge at a press conference in Abuja, yesterday, warned that the agency would not hesitate to apply sanctions as provided in the status book against defaulters. According to her, the rate with which goods exported from Nigeria were being rejected by foreign countries was becoming embarrassing and shameful. Speaking against the background of growing incidence of rejection of the goods exported to European countries from Nigeria, Adeyeye said she met with the UK Food Standard Agency (FSA) during the recently concluded workshop on Nigeria-UK Enhanced Trade & Investment Partnership (ETIP) held in London, to discuss the issue. She said the meeting which was hosted under the UK-Developing Country Trading Scheme (UKDCTS) with the Nigerian delegation led by Federal Ministry of Industry, Trade, & Investment (FMITI) sought to engage the FSA, "on the unabated

incidences of reject of Nigerian food products exported to the United Kingdom, non-notifications on such rejects and non-engagement of NAFDAC on the matter and the need for mutual recognition of electronic certification of both government agencies of export certification, among others." Adeyeye said going forward NAFDAC would holding sensitisation meetings with stakeholders especially traders and business owners with a view to intimating them of the need to abide by the laid down processes for approving export of goods from the country. "In the interim, I implore all Nigerian exporters trading in NAFDAC regulated products to obtain necessary certifications for processing of their products. "These could be processed, semi-processed, food-destined for further processing or bulk food such as cocoa, sesame seed, groundnut, melon or grains (e.g., beans, indigenous rice, etc.) tea materials, ogbono and mellon; drugs, cosmetics, chemicals, agrochemicals, beverages, fruit juices, and medical devices. "All exporters should join hands with NAFDAC and contact the Agency for more information on Single Window Trade (SWT) portal: www.trade.gov.ng. "They must leave ample time for processing unless their product is already registered (for destination country), the facility already has cGMP certification, and the client has been a regular exporter with good records with NAFDAC. They

are all also enjoined to contact NAFDAC website to read up and comply with the stated steps on the guidelines," she said. Adeyeye, however said it was to NAFDAC’s credit, that out of the hundreds of products whose export process passed through NAFDAC, none had suffered rejection to date. She said going forward, in order to stem the worsening situation, "No patriot should export any NAFDACregulated product without it passing through and being certified of its

safety and quality status including full compliance with the destination country government requirements. "This is also very important to avert colossal economic loss resulting from the rejection of non-compliant exports by the trading partners." While lamenting the absence of requisite data on exported products from Nigeria, the NAFDAC DG said almost all exported food products were processed without the statutory testing by NAFDAC at the various ports.

The MoU, the MD said, will further aid the accelerated deployment of mini-grids and provide clean, sustainable, and affordable electricity to more Nigerians. Also speaking, the chief executive of AMDA, Mr. Olamide Niyi-Afuye, emphasised the dedication of the organisation to collaborating with REA in nurturing the mini-grid sector in Nigeria. “Mini-grids have the potential to transform the lives of millions of Nigerians, and this partnership is a step in the right direction. AMDA is committed to working with all stakeholders to create an enabling environment for the minigrid sector to scale and achieve sustainability, ” he said. He added: “In AMDA, we believe in data. We need about 160,000 mini-grids (in Sub-Saharan Africa) and I think Nigeria is about 25 per cent of that. So we're talking 40,000 mini-grids we need to be deployed in the next seven years for us to fully achieve our goals . “So these kinds of collaborations are not just for the show, they actually should be bringing more solutions, more ideas, and we believe that the REA is more than well equipped to achieve this audacious mission,” he explained. According to him, the MoU will set clear performance indices for the sector and support good developers to scale up financially. An impact-focused collaboration,

the REA-AMDA MoU signifies a significant milestone in the development of mini-grids across Nigeria, the REA stated. “It equally exemplifies the unified efforts between the public and private sectors working in lockstep towards the common goal of providing clean, reliable, safe, and affordable electricity for all. “Nigeria has one the largest mini-grid markets in Africa, with over 100 mini-grids currently in operation, but due to the energy access gap in the country, there is still a significant need for more decentralised energy interventions to bridge the energy deficit. “With a partnership now sealed through an MoU, the REA and AMDA will collaborate on a nonexclusive basis to further advance access to sustainable electricity for Nigerians and other African countries through mini-grids and decentralised utilities, and ultimately achieve universal access to energy by the year 2030. “While improving data-driven decision-making and industry knowledge in the off-grid space, the MoU is targeted at promoting sustainable energy access for unserved and underserved communities through private sector development and financing, which will ultimately enhance policies/regulations and rapid deployment of renewable energy technologies,” a statement later released by the REA said.

Shaibu: Nigerians Getting Poorer, Hungrier, Tinubu Running 'Animal Farm' Economy Chuks Okocha in Abuja

Special Assistant on Public Communication to former Vice-President Atiku Abubakar, Phrank Shaibu, has said the latest inflation figure of 26.72% and food inflation of 30.6% underscored the incompetence and cluelessness of the President Bola Tinubu administration. He said in a statement on Tuesday that Tinubu’s disingenuous removal of petrol subsidy, shoddy exchange rate unification policy, and uninformed introduction of VAT on diesel were among the reasons for the high inflation rate. Shaibu described the eventual removal of VAT on diesel as belated and evidence of the

arbitrary nature of Tinubu’s administration. He said Tinubu’s declaration of a state of emergency on food security was nothing but mere rhetoric as food prices had continued to soar coupled with a hike in the cost of transportation and dilapidated federal roads that had made interstate travel unbearable. “Food prices in several parts of the world are dropping. However, they are increasing in Nigeria because the country is being governed by an economic Lilliputian, whose only bragging right is increasing the revenue of Lagos State through multiple taxation and the institutionalisation of extortion.

“He knows nothing about exchange rate, monetary policy, or even how to run a multi-ethnic and largely agrarian country like Nigeria. This was a man who said last year that the only way to solve unemployment was to employ 50 million youths into the army and feed them with ‘Agbado (corn), cassava and ewa (beans)’. How can such a man have the answers to Nigeria’s problems?” Shaibu added. He described Tinubu’s administration as prodigal, adding that the way money was being wasted amid scarcity of resources showed the insincerity of the government. According to him, “Even at a time when he is calling on

everyone to tighten their belts, he inaugurated the largest cabinet in Nigeria’s history and is set to plunge Nigeria deeper into more debt. “He declared an emergency in food security, ordered the release of grains, and reviewed his earlier palliative plan, but 100 days since the so-called declaration of a state of emergency, Nigerians are hungrier and poorer. “It is obvious that it was all a ruse to deceive the feeble-minded, just like his announcement on the lifting of the UAE visa ban,” he said, and called on Nigerians to tarry a bit longer while the Supreme Court rectifies the electoral disaster of February 25, 2023.

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NEWS

let there BE peace in Ondo...

L-R: Former Governor of Bauchi State, Abubakar Sadiq; Former Governor of Katsina State/Chairman of Ondo State APC Reconciliation Committee, Aminu Masari; APC National Chairman, Dr. Abdullahi Ganduje and Speaker, Ondo State House of Assembly, Oladeji Olamide, during a meeting for submission of report by the Ondo State House Members/Reconciliation Committee Members to the APC Photo: ENOCK REUBEN executives on impeachment saga in Ondo State at party's national secretariat in Abuja ... yesterday

Tinubu Seeks Senate’s Nod for Olukoyede, Hammajoda as EFCC Chair, Secretary Also Bulus Yakubu as NSIPA head Approves pre-retirement leave for ICPC boss, names Aliyu as replacement, Oparaodu secretary

Deji Elumoye, Sunday Aborisade and Folalumi Alaran in Abuja President Bola Tinubu, yesterday, urged the Senate to screen and confirm the appointment of Mr. Ola Olukoyede and Mr. Muhammad Hammajoda as Chairman and Secretary of the Economic and Financial Crimes Commission (EFCC). He also asked the Senate to approve the appointment of Mrs. Delu Bulus Yakubu as the pioneer National Coordinator/Chief Executive Officer of the National Social Investment Programmes Agency (NSIPA). The NSIPA Establishment Act, 2023, was signed into law on May 22, 2023. Yakubu is a recipient of a Master’s degree in agronomy from the State University of Bio-Technology in Kharkiv, Ukraine, with over 15 years work experience in Social Investment Programme management. At the same time, the president has approved the appointment of Dr. Musa Adamu Aliyu as Chairman/ Chief Executive Officer and head of a new management team for the Independent Corrupt Practices and Other Related Offences Commission (ICPC). Similarly, Tinubu approved the appointment of Mr. Clifford Okwudiri Oparaodu as Secretary to the Commission. Tinubu’s request was contained in a letter read at plenary by Deputy Senate President, Jibrin Barau.

Tinubu had last Thursday approved the appointment of Olukoyede as EFCCchair and Hammajoda as Secretary, for a renewable term of four years in the first instance, pending Senate confirmation. The appointment came nearly four months after the erstwhile antigraft agency chief, Mr. Abdulrasheed Bawa, was suspended. A statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, stated that, “Mr. Olukayode’s appointment followed the resignation of the suspended Executive Chairman of the EFCC, Mr. Abdulrasheed Bawa.” Meanwhile, the appointment of Aliyu is subject to confirmation by the Nigerian Senate is in line with powers conferred on the President as established in Section 3(6) of the Corrupt Practices and Other Related Offences Act, 2000, and in furtherance of the Renewed Hope mandate to reform key institutions and invigorate Nigeria's war on corruption. Another release by Ngelale, stated that the new Chairman of the ICPC was nominated for confirmation by the Nigerian Senate, following the President's approval of the outgoing Chairman's request to proceed on pre-end of tenure leave beginning on November 4, 2023, ahead of the expiration of his tenure on February 3, 2024. Aliyu had embarked upon many far-reaching reforms as the

Attorney General of Jigawa State since September 2019 and holds Bachelors, Master’s and Doctoral degrees in law. He was also named Senior Advocate of Nigeria-designate in October 2023. The position of Secretary to the Commission did not, however, require Senate confirmation and, therefore, by the directive of the president, the appointment of Oparaodu as Secretary took immediate effect. Oparaodu is a lawyer with over 30 years of experience and has served meritoriously in the public service as a member of

the Rivers State Judicial Service Commission and Chairman of the Caretaker Committee of Port Harcourt City Local Government Council. The president implored the new management team of the ICPC to always be above board as they discharge their duties without fear or favour concerning all matters before them. Meanwhile, a pro-democracy group, Centre for Democracy and Human Rights (CEDEHUR), yesterday, protested to the National Assembly to register their disapproval of the appointment

of Olukoyede. The group declared that his appointment was done in gross violation of the extant laws, which was the EFCC Establishment Act 2004. National Secretary of CEDEHUR, Adebayo Lion Ogorry, read a copy of the letter which was submitted to the Senate leadership during the protest. He said the exercise became necessary in order to draw their attention to the gross violation of the extant laws, which was the Establishment Act 2004 of the Economic and Financial Crimes Commission,

EFCC, by the President “The action of President Bola Tinubu in making the appointment of Mr Olukoyede into such a high office with enormous responsibility as the Chairman of the EFCC in fragrant breach of the provisions of the laws of the parliament is contrary to the oath he took on May 29, 2023 to protect and defend the laws of the nation. "It is important to note that the EFCC Extant laws remain sacrosanct and needed to be strictly adhered to before going ahead to appoint a chairman for the Commission,” he said.

...Sacks NAHCON Board, Names Arabi New CEO

Appoints Ahmed Aminu executive secretary PTDF Accepts Bello Gusau’s voluntary retirement

Deji Elumoye in Abuja President Bola Tinubu has approved the dissolution of the Board of National Hajj Commission of Nigeria (NAHCON). The President, according to a release by his Media Adviser, Ajuri Ngelale, also directed the outgoing Chairman and Chief Executive Officer of the Commission, Alhaji Zikrullah Kunle Hassan, to proceed on three-month pre-retirement leave as provisioned by Public Service Rule (PSR) 120243 with effect from October 18, 2023, leading to his eventual retirement from service

on January 17, 2024. In his place, Tinubu has approved the appointment of Alhaji Jalal Ahmad Arabi to serve as the Chairman and Chief Executive Officer of NAHCON for a term of four years in the first instance. Arabi, will assume office in acting capacity on October 18, 2023, and will continue to serve in substantive capacity for a fresh term of four years, beginning on January 17, 2024. The president, according to the statement, expected that the new NAHCON leadership would serve in reverence of Allah and

with utmost adherence to the precepts of service according to the Holy Qur'an. In a similar breath, Tinubu has approved the appointment of Ahmed Galadima Aminu as the Executive Secretary and Chief Executive Officer of the Petroleum Technology Development Fund (PTDF) for a term of four years in the first instance. The new Executive Secretary of the Petroleum Technology Development Fund, according Ngelale, recently served as the General Manager of the Education and Training Department at the

Petroleum Technology Development Fund. His appointment was sequel to the application for retirement submitted by the outgoing Executive Secretary/CEO, Bello Aliyu Gusau, to proceed on 90-day pre-retirement leave effective September 26, 2023. The president, therefore, has directed the new Executive Secretary/ CEO Aminu, to serve in acting capacity until he commenced his fresh term of four years in office, beginning on December 26, 2023. Tinubu wished the new PTDF Executive Secretary/CEO well in the discharge of his duties.

Ministry of Housing Plans Initiative to Boost Inclusive, Affordable Housing The Ministry of Housing and Urban Development has revealed plans to introduce a groundbreaking initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross subsidies in housing projects. This visionary strategy, championed by the Minister of Housing and Urban Development, . Ahmed Musa Dangiwa, promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets. According to a statement signed by Mark Chieshe, the Special Adviser, Media, to the Minister of

Housing and Urban Development, disclosed that Dangiwa, unveiled the innovative approach while reviewing affordable housing options presented by the Ministry’s Affordable Housing Building Design Committee. The Minister had established the Committee during his first week in office to review designs of Ministry’s projects and ensure that houses that the Ministry promotes fall within price-ranges that low- and mediumincome earners can afford. The revised designs featured several cost-saving changes including organic one one-bedroom bungalows to lower cost of purchase while allowing beneficiaries

the latitude to expand to two and three-bedrooms as his income increases, optimised space management, smart roofing techniques and basic internal finishings amongst several others. In his remarks, Dangiwa commended the Design Team for their creativity. He also emphasised the necessity of embracing innovative concepts like cross subsidies to counter the challenges posed by inflation, the soaring costs of building materials, which have led to an increase in planned house prices. "I am impressed with the work that the Affordable Housing Design Team has accomplished, thus far,

in reducing the cost of houses that we plan to promote so that all Nigerians can benefit. "While there is progress, the escalating cost of building materials has almost taken off all the savings from the revised designs. For us to achieve our goals, we have to think out of the box and embrace creative solutions. "This is why we plan to work out a comprehensive framework for introducing cross subsidies in projects delivered through Public Private Partnerships and the agencies under the Ministry," Dangiwa added. He explained that cross subsidies were important policy tools used by

governments and urban planners to address housing affordability issues and promote inclusive urban development. He added that the approach involved redistributing the costs and benefits of housing development across different income groups. “The reality of the affordable housing debate is that many civil servants and other Nigerians working in the public sector cannot even afford a decent mortgage with their salaries. Our mechanism will be to promote market-based prices for high end developments to those who can afford it, thereby subsidising

housing costs for lower-income households,” he added. It noted that the Ministry's vision for implementing cross-subsidy is rooted in a commitment to social equity and inclusive urban development. "By strategically channelling profits from high-end housing projects, the Ministry aims to promote a housing landscape where every citizen, regardless of income, finds a place to call home. "This approach is not merely about constructing houses; it's about fostering communities where opportunities are equal, and prosperity knows no bounds," it stated.

WEDNESDAY OCTOBER 18, 2023 • T H I S D AY

WEDNESDAY OCTOBER 18, 2023 •T H I S D AY

WEDNESDAY OCTOBER 18, 2023 • T H I S D AY

WEDNESDAY, OCTOBER 18, 2023 • T H I S D AY

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Presidency: All Ministers Will Sign Performance Bond with Tinubu

Chuks Okocha in Abuja

Special Adviser to President Bola Tinubu on policy coordination and former Managing Director of the Nigeria Ports Authority (NPA), Hadiza Bala-Usman, yesterday, said all the ministers in the current administration were under the shared understanding to sign a performance bond with the president. Bala-Usman, who disclosed this yesterday, when she appeared on a television programme in Abuja, said the bond would contain key performance indicators (KPIs) that would be reviewed quarterly. She said the bond would also come with a consequence management framework for appointees, who fell short.

According to her, “The role of my office is to ensure that there is coordination across ministries, departments and agencies. We have effectively commenced our work. “We have also looked to see that while there are policy deployments across MDAs, there is also the understanding of the respective deliverables expected of the MDAs of government. “We are looking to commence an assessment of the respective ministers in January 2024. We are going to have quarterly assessments of performance, which will culminate in an annual score card. “In addition to that, we are going to have a cabinet retreat in November with Mr. President. At the end, this would culminate in

the performance bond that will be signed by each ministry. “Every minister and the permanent secretary would sign a performance bond with the president, which would detail what they are expected to do within the one year 2024 budget cycle. “And that performance bond is what we are going to use to track the performance of that minister. One of the things that we are keen to ensure, and Mr. President has clearly given us that directive is that performance is a very important thing. “He has made a commitment to Nigerians and that commitment is what he is going to ensure is delivered by his respective appointees.

“And it is not only for the ministries, but also largely for the whole governance structure for all of us to know that we are hitting the ground running and we are ensuring that we deliver on our respective mandates.” The special adviser said Nigerians would see a remarkable difference in governance with the way the president manages his team. Her words: “You are going to see a huge difference in President Tinubu’s approach towards ensuring his appointees adhere to the key performance indicators that he is giving them. “As we know him, he is somebody that is very strong in delivering on his promises to citizens and I believe we are all going to

witness that in how he is able to ensure that ministers are delivering. “And we can see within the short period we have had a very clear economic direction that he has given and he is very strong in ensuring that all hands are on deck and also every appointee is clear on delivering on their mandate.” Bala-Usman, who added that security was top priority for Tinubu, argued that, “Security is a top priority of President Bola Tinubu, and he has ensured that all resources are prioritised for security deployment. “We can see within our supplementary budget; within areas that the president has made pronouncements. He has prioritised our security and we can see a lot of

FG’s Subsidy on Electricity Returns, Now N135bn in Q2 previous quarter of N36 billion. The ex-Minister of Finance, Mrs Zainab Ahmed, had revealed in March 2022, that the federal government had quietly removed the subsidy on electricity tariff, saying that the government had to carefully adjust the prices incrementally at some levels. “We have been able to quietly implement subsidy removal in the electricity sector and as we speak, we don’t have subsidies in the electricity sector. We did that incrementally over time by carefully adjusting the prices at some levels while holding the lower levels down,” she had stated. However, the NERC report for Q2 stated that the increase was largely attributable to the government’s policy to harmonise changing rates. “In the absence of cost-reflective tariffs, the government undertakes to cover the resultant gap (between the cost-reflective and allowed tariff) in the form of tariff shortfall funding. “This funding is applied to the Nigerian Bulk Electricity Trading Plc (NBET) invoices that are to be paid by Distribution Companies (Discos). The amount to be covered by the Disco is based on the allowed tariff, determined by the commission and set out as their Minimum Remittance Obligation (MRO) in the periodic Tariff Orders issued by the commission. “It is important to note that due to the absence of cost-reflective tariffs across all Discos, the government incurred a subsidy obligation of $135.23 billion in 2023/Q2, which is an increase of $99.21 billion (+275 per cent) compared to the N36.02 billion

incurred in 2023/Q1; this increase is largely attributable to the government's policy to harmonise exchange rates. “On average, the subsidy obligation incurred by the government per month was N45.08 billion in 2023/Q2. For ease of administration of the subsidy, the MRO is limited to NBET only with the Market Operator (MO) being allowed to recover 100 per cent of its revenue requirement from the Discos. “In 2023/Q2, the MRO-adjusted invoice from NBET to the Discos was N154.04 billion while the total remittance made was N152.48 billion, which translates to a 98.99 per cent remittance performance. “The remittance performance of Discos to NBET in 2023/Q2 (98.99 per cent) is a 31.37 per cent increase compared to the 67.62 per cent remittance performance recorded in 2023/Q1. “The significant improvement in remittance performance by Discos is because a large portion of the NBET invoice is to be covered by the government in the form of subsidies,” the report stated. According to NERC, the government's subsidy obligation meant that in 2023/Q2, Discos were only expected to cover 53.25 percent of the total invoice received from NBET. The report noted that during the period, the total revenue collected by all Discos was N267.8 billion out of the N354.61 billion that was billed to customers. “The Discos overall collection efficiency increased by 6.79 percentage points from 68.75 per cent recorded in 2023/Q1. While the total collections increased by 8.41 per cent (compared to

Shettima: Strategic Partnership Between Nigeria, China, Key to Africa's Development

Road Initiative Forum in Beijing, China, stated this yesterday, when he was hosted by his People's Republic of China counterpart, Vice President Han Zheng, at the Diaoyutai State Guest House, Beijing. He expressed gratitude for the warm reception accorded his delegation, noting that Nigeria and China, having celebrated 50 years of diplomatic relations in 2021, must now take their destinies into their own hands. Declaring that the rest of Africa stood to gain from a successful Nigeria, the vice president said, "our mutually beneficial relationship will be further enhanced and upgraded to a comprehensive strategic partnership." He added: "Nigeria is China’s second-largest trading partner in Africa; it is the largest economy in Africa and the most populous country in the African continent. The Belt and Road Initiative is a big beautiful concept that can be deployed to achieve this." Shettima, drew attention to the burgeoning relationship between Nigeria and China, saying both countries stood to gain mutually

from their friendship. On his part, Vice President Zheng, assured his Nigerian counterpart of continued partnership with Nigeria, hinting that President Jinping's meeting with Shettima would enhance political mutual trust, advance practical cooperation and better develop the bilateral relation between the two countries. The vice president was later a guest at the State Banquet hosted by President Jinping and his wife, Madame Peng Liyuan. Attention and focus would shift to the opening ceremony of the Belt and Road Initiative Forum at the Great Hall in Beijing billed for today. Shettima was expected to proceed to the National Convention Centre to deliver his Paper titled, "Digital Economy As A New Source Of Growth". A bilateral meeting with the Chinese President and Prime Minister of Pakistan was also on the Vice President's itinerary, just as he and other members of his delegation would be presiding over meetings with management of top construction, technology, finance and communication giants in China.

N247 billion 2023/Q1). The total billings declined by -1.33 per cent (compared to N359.3 billion in 2023/Q1),” the commission noted. Besides, it explained that the total electricity generated during the quarter reduced to 8,867.05 Gigawatt per hour (GWh), translating to a decrease of -5.17 per cent (-483.19GWh) from the 9,350.24GWh generated in 2023/Q1. The report noted that this was due to 16 of the 26 grid-connected power plants recording a decrease in total generation. “The decrease in electricity generation in 2023/Q2 was due to a decrease in the available capacity of the power plants. Two of the top performing power plants in 2023/Q1–Olorunsogo and Alaoji NIPP were both unavailable for 84 days (approximately 91 per cent of the quarter) in 2023/ Q2 due to gas constraints and mechanical faults,” NERC said. Furthermore, the commission stressed that all the hydropower plants recorded decreases in their average generation in 2023/Q2, with Shiroro hydro plant recording a decrease in generation due to the shutting down of one of its four units/turbines for minor maintenance. Jebba, NERC said, had 50 per cent of its turbines (289.2MW capacity) shut down in 2023/ Q2 to allow it undergo total overhaul and replacement of key components, including generator rotor, winding and Automatic Voltage Regulator (AVR).

Adelabu: Nigeria Needs About $262bn Investments to Meet 30MW Power Generation Target by 2030

Meanwhile, the Minister of Power, Chief Adebayo Adelabu, has stated that Nigeria would

require investments worth about $262 billion to be able to achieve its ambitious target of expanding electricity generation capacity to about 30,000 megawatts (MW) by 2030. Speaking in Lagos, at the annual international strategic conference of the Association of Energy Correspondents of Nigeria (NAEC), the minister announced that the federal government would no longer provide sovereign guarantee between investors and organisations in a bilateral contract. He also stressed the need to create an improved partnership between the public and private sector in order to address critical issues hampering the growth of the power sector. Adelabu, who was represented at the event by the Director, Transmission Services Department, Ministry of Power, Dr Emmanuel Nosike, noted that the numerous challenges in the power sector had led to frequent power outages, fluctuations in electricity generation, and in some cases complete grid collapse. "Nigeria needs about $262 billion in investment to meet the expansion needs of the power sector by 2030", Adelabu stated, adding the government had set an ambitious target to generate about 30,000MW of electricity by 2030 with renewable energy contributing 30 percent to Nigeria's energy mix. The minister, whose speech was sent to THISDAY, yesterday, acknowledged that Nigeria's current power sector infrastructure could not effectively generate the much-needed electricity for the country. He explained that Nigeria currently has a low power generation, transmission, and distribution capacity of about 5,625MW, 8,500MW,

and 8,425MW respectively, which were inadequate to even reach the targeted power generation of 20,00OMW in the short-term. Adelabu expressed concerns over the poor performance of the power sector, noting that the sector was faced with multiple challenges which also comprise insufficient generation capacity, tripping of transmission lines, vandalization of power infrastructure, high frequency due to low demand for power, as well as ageing infrastructure. The minister maintained that the insufficient power generation in Nigeria was also due to outdated power plants, underinvestment in new generation infrastructure, and over-reliance on fossil fuels such as gas/steam and diesel. Adelabu stated, "The interruption in electricity supply is a result of sudden outage in the transmission line which may be as a result of overloading, overheating of insulation, and faulty substation equipment. "Vandalisation of power infrastructure is a significant challenge in Nigeria's power network. Criminal elements, sometimes intentionally damage power lines, transformers, and other equipment associated with low levels of surveillance and security on all electrical infrastructure. "High frequency due to low demand for power is often referred to as 'over-frequency' or 'over generation' and it occurs when the power supply exceeds the demand on the grid. Its effect can be felt in the overloading of generators and transformers, loss of synchronisation, and frequency instability. When the frequency goes up, the machine output reduces and vice versa. "When power systems

Hadiza Bala-Usman key achievements have been done within the shortest period by the agencies in the security architecture of the country.”

infrastructure has exceeded its expected lifespan, it needs repair, rehabilitation, or replacement. Ageing power network infrastructure can lead to increased failure rates and reduced reliability without adequate maintenance and system upgrades. "These issues have had farreaching consequences on the nation's development, and as such, may risk losing potential investors." To address these challenges, he said there was a need for the government and private sector to collaborate on developing a strategic approach to upgrade and modernise the electricity transmission infrastructure to fully realise the anticipated benefits of privatising the power sector. On the government's side in terms of providing an enabling environment to attract investment, he said the federal government approved the Electricity Act 2023 to attract the required private sector investment to bridge the huge deficits of electricity demand and supply. The Electricity Act 2023 recently signed by President Bola Tinubu, enables the states, private companies, and individuals to generate, transmit, and distribute electricity in the country. Going forward, Adelabu said the federal government would no longer provide sovereign guarantee between investors and organisations in a bilateral contract, adding that this new approach would enhance accountability and responsibility between both parties. He advised that contract financing should be encouraged between the investor and the organisation. Adelabu explained, "For instance, if somebody wants to invest in the transmission Continued on page 36

US President Biden Visits Israel Today as Hundreds Die in Gaza Hospital Bombings

the region though military authorities, said there were no plans for direct involvement in the war. The US and the UK had already moved two aircraft carriers and war ships to the Mediterranean Sea near Israel. Terror group, Hamas, described the air strike as a genocide and called Arab nations to join the war. Hamas known to hide weapons in a network of tunnels running through homes, offices and hospitals, which mapping was said to be problematic for Israeli and US intelligence. Israeli authorities had argued repeatedly that Hamas used civilians as shield for their heinous activities. Hundreds of families were sheltering in and around the hospital before the strike. The Gaza Health Ministry said an Israeli airstrike hit a Gaza City hospital packed with wounded and other

Palestinians seeking shelter, killing hundreds. The Palestinian health ministry, which is run by Hamas, said an Israeli airstrike killed at least 500 people at a hospital in Gaza on Tuesday. A spokesperson for Israel’s military said, “We will get the details and update the public. I don’t know to say whether it was an Israeli airstrike.” The air strike triggered massive protests in Ramallah. Palestinian authorities yesterday announced that President Mahmood Abbas, who called the air strike at the hospital a genocide, had pulled out of the meeting with Biden. President Biden is scheduled to arrive Israel today before visiting Jordan to meet with world leaders in a show of solidarity as the war between Israel and Hamas rages. The White House said the president would “demonstrate

his steadfast support for Israel in the face of Hamas’s brutal terrorist attack” before traveling to Jordan, where he will meet with Egyptian and Palestinian leaders to “discuss the humanitarian needs of civilians in Gaza.” Biden’s trip to Israel came as the situation in Gaza grew more dire. More than 4,000 people including around 3,000 Palestinians and over 1,300 Israelis had been killed in the conflict, thousands of others injured. U.S. officials have said at least 30 Americans were among the overall death toll, with another 13 missing. Meanwhile, Canadian Prime Minister, Justin Trudeau, Tuesday, said a reported Israeli strike on a hospital in Gaza was "horrific and absolutely unacceptable." Trudeau made his remarks, when asked about the strike, which health authorities in the

Hamas-run enclave said had killed hundreds of people. Canada had stressed that Israel must abide by international law as it strikes back against Hamas over attacks that killed more than 1,300 people. "The news coming out of Gaza is horrific and absolutely unacceptable. International law needs to be respected in this and in all cases. There are rules around wars and its not acceptable to hit a hospital," Trudeau told reporters. Meanwhile, U.S. Secretary of State Antony Blinken and Israeli Prime Minister Benjamin Netanyahu were forced to shelter in a bunker after air raid sirens went off during their meeting on Monday. Blinken was trying to broker a deal for a "humanitarian corridor" that would allow aid into Gaza via Egypt, but an agreement has yet to be reached.

T H I S D AY • WEDNESDAY, OCTOBER 18, 2023

NEWS

Courtesy Visit to Edun...

L-R: Acting Chairman, Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji; Minister of Finance, Wale Edun; Ogun State Governor, Prince Dapo Abiodun; Group Managing Director of NNPCl, Mele Kyari and Minister of Budget and Economic Planning, Atiku Bagudu, at the office of the Minister of Finance in Abuja... yesterday

Report: States' Reliance on FG Allocation Rose to 61.45% in 2022 Abdulrazaq urges Nigerians to assess leaders based on investments in education, health rather than roads, bridges James Emejo in Abuja A new report has found that 16 states of the federation relied on federal transfers for 70 per cent of their total revenues in 2022. The report noted that 50 per cent of the total revenue of 32 states were federal transfers from the Federation Accounts Allocation Committee (FAAC), a situation which further showed their low drive for Internally Generated Revenue (IGR) at the sub-national levels. This was contained in BudgIT’s 2023 State of States Report, themed: “Subnational Healthcare Delivery for Improved Economic Development”. The report, unveiled yesterday by the Governor of Kwara State/ Chairman, Nigeria Governors’ Forum (NGF), Abdulrahman Abdulrazaq, also showed that total expenditure of the 36 states rose by 24.7 per cent to N8.2 trillion in 2022 compared to N6.58 trillion in 2021. The report revealed that the

cumulative revenue of the states grew by 28.95 per cent to N6.6 trillion in the review period compared to N5.12 trillion 2021, while IGR appreciated by 12.98 per cent to N1.82 trillion from N1.61 trillion in the preceding year. However, IGR to GDP ratio remained low at 1.01 per cent, up from 0.98 in the previous year, the document noted. The increase in IGR however, failed to reflect across the board, the report noted adding that 17 states experienced a decline in IGR from the previous year while 19 states recorded positive growth. Occasioned by a 49.2 per cent increase in global oil prices, gross federal transfers rose by 35.68 per cent from the previous year to N4.05 trillion, despite a 12.55 per cent drop in crude oil production. The report stated that between 2018 and 2022, states’ total debt grew by 45.89 per cent to N6.37 trillion from N4.97 trillion in 2018. Lagos, Kaduna, Edo, and Cross

River, have dollar-denominated debts in excess of $250 million, the report noted, adding that Lagos’ foreign debt stock of $1.25 billion increased from N560.03 billion (using an exchange rate of N448 to $1) to N933.92 billion (using an exchange rate of N747.1 to $1). It further pointed out that despite the fact that 15 states are yet to implement the minimum wage of N30,000, the cumulative personnel cost of the 36 states grew by 13.44 per cent to N1.75 trillion from N1.54 trillion in 2021. The report further revealed the extent to which healthcare spending had been relegated at the sub-national level, stating that only Sokoto and Jigawa States surpassed the 10 per cent Abuja declaration on health spending. On a per capita basis, while 24 states spent below the national average of N4,499.48 in 2022, just 12 states spent above the national average of N2,200 per capita on

education, it added. Meanwhile Abdulrazaq, in his intervention at the launch, advised Nigerians to assess their leaders based on what they have offered in the areas of education and health which have long-term benefits rather than roads and bridges that are quickly built in order to win a re-election. Essentially, the report assesses and ranks the fiscal performance of all the states from the most sustainable to the least sustainable. This year’s edition additionally spotlights the state of healthcare delivery for improved economic development at state levels. BudgIT’s Research and Policy Advisory Lead, Iniobong Usen, said, “To reduce their over-reliance on federal transfers, states need to broaden and diversify their tax base, which currently is predominantly PAYE-dependent. “In light of the huge infrastructure deficit, states need to prioritise

SSANU Bemoans Encroachment of Academic Staff into Administrative Duties in Varsities Seriki Adinoyi in Jos

The Senior Staff Association of Nigerian University (SSANU) has bemoaned the assignment of administrative duties to academic staff, describing it as unhealthy. The union stressed the need for a clear separation of duties and responsibilities. Addressing members of the association at its 8th Regular North-central zone Executive Council Meeting, held in Jos, Plateau State, yesterday, the Vice President for the North-central zone, Emmanuel Nyiyongo, emphasised the need to introduce innovations in the university system to break the cycle of stagnation for academic staff. He said, “The innovation introduced by the University of Jos, which breaks the cycle of stagnation and redundancy for academic staff, is now being adopted across other universities, positively impacting the entire sector.” He said the meeting was to advocate for implementing policies that enhance university staff's welfare throughout Nigeria, especially in the North Central Zone. Nyiyongo, also underscored the commitment of the North-central zone of the association to improve

the working conditions and welfare of staff and enhance Nigeria's higher education system's overall quality and efficiency, adding that the association works to ensure that the principles of unity and progress fundamental to SSANU's trajectory were upheld. The meeting, which had in

attendance, key stakeholders of SSANU like the Branch Chairman of the association at the University of Jos, Anthony Joro. Speaking at the meeting, Joro said, “The University of Jos has provided a platform for industrial harmony”, adding that the meeting sought to facilitate dialogue,

collaboration, and knowledgesharing among attendees, with an overarching theme of unity and progress. Joro, highlighted the achievements of his branch, which included upgrading certain cadres for promotion and timely promotion exercises.

capital expenditure over recurrent, especially on areas that improve the ease of doing business, namely road, power, transport, digital and security infrastructure. “The multiplicity of taxes, which puts inflationary pressures on the price of commodities, more importantly food, needs to be urgently addressed. Just as the state governments need to improve their capacity to accurately and consistently project their revenues and expenditures to improve service delivery outcomes, they need to establish robust consequence

UNIDO: Nigerians Developing Other Countries’ Economies through Massive Importation

Harps on need to support local manufacturers

Dike Onwuamaeze The United Nations Industrial Development Organisation (UNIDO) Regional Director for West and Central African Regions, Mr. Jean Bakole, has harped on the need to support Nigerian manufacturers as well as micro, small and medium scale enterprises (MSMEs) in order to grow Nigeria’s economy and end the era when Nigerians develop other countries' economies through over reliance on importation. Bakole made this call yesterday

Eni Awards 29 Postgraduate Scholarships to Nigerian Graduates Sylvester Idowu in Warri

Eni’s subsidiary, the Nigerian Agip Exploration Limited (NAE) has awarded scholarships to 29 Nigerian graduates for postgraduate studies overseas as well as at Nigerian universities under its 2023/2024 awards scheme. Nine of the beneficiaries would undertake postgraduate studies in various universities in the United Kingdom and a university in Finland. The remaining awardees would pursue their postgraduate studies in Nigerian Universities in disciplines such as Engineering, Geosciences, Petroleum and Environmental Technology and Petroleum Law. Beneficiaries were selected based on past academic standing and

performance in the computer-based test conducted recently for over 700 shortlisted applicants for this year’s award scheme. The award letters were presented to the beneficiaries yesterday, in Abuja by Eni Nigeria’s Vice Chairman and Managing Director, Mr. Fabrizio Bolondi. While congratulating the beneficiaries, Bokonzi said the presentation ceremony represented a moment of pride for the company and the awardees, not only to recognise the incredible talent and dedication of the scholars, but also to highlight the significant investment in the future of education, innovation, and progress in the country. The postgraduate scholarship scheme was instituted in 2007 as part of the company’s human capital

development initiatives to promote knowledge acquisition and to bridge the skills gap in specialised fields relevant to deep offshore Oil and Gas operations in Nigeria. To date, a total of 290 graduates have benefitted from the Postgraduate Scholarship Schemes, instituted by the company in 2007 to promote knowledge acquisition and fill skills gap in the Oil and Gas sector, as well as contribute to the training and equipping of local professionals with requisite knowledge required in the industry. Eni, through NAE, has implemented other sustainability initiatives in Nigeria in areas of health, education, access to water and infrastructure provisions, as well as specific initiatives for stakeholder empowerment in local communities.

management regimes to deter corruption and ensure value for money.” In his keynote address, World Bank Health Specialist, Dr. Olumide Okunola, said Nigeria was “clearly not doing well in health spending.” He said the suboptimal service delivery in health was limiting development outcomes and weakening the social contract between the state and citizens. He also linked the low focus on health to an unimpressive revenueraising potential which remained one of the lowest in the world.

These include provision of 22 integrated water schemes for domestic consumption and irrigation purposes in North-East Nigeria and Abuja Federal Capital Territory, in collaboration with the Food and Agriculture Organisation of the United Nations (FAO) to improve access to water for the communities affected by the humanitarian crisis in Northeast Nigeria. Others were provision of Magnetic Resonance Imaging (MRI) equipment to the University of Port Harcourt Teaching Hospital (UPTH), Port Harcourt; Cardiothoracic equipment including Heart-Lung Machine LivaNova (Sorin/Stockert) S5 complete system at the Aminu Kano Teaching Hospital, Kano; as well as a Research and Innovation Laboratory at the University of Lagos, Nigeria.

in Lagos, when he declared open the Manufacturers Association of Nigeria’s (MAN) three-day, “Made in Nigeria Exhibition,” (MANEXPO2023) where he said government should sustain local manufacturers through appropriate policies, provision of basic infrastructure, effective continued support to MAN and its members and other key incentives. He explained: “There is need to support local manufacturers/MSME and start-ups who are involved in producing made-in-Nigeria goods. “Over the years, Nigeria has been growing other countries’ economies through over-dependence on imported goods, especially those which have local substitutes. “Yet, Nigeria can easily experience a breakthrough in the quest for local content development and a stable, strong and advanced economy if Nigerians would encourage the production and patronise madein-Nigeria products. “It is a well-known fact that the economy of any nation grows rapidly when locally made goods are promoted through patronage, first by its people then through export. “Over-dependence on importation of goods weakens the currency, creates unemployment, and consistently reduces the GDP. On the other hand, local production will promote gainful employment for Nigerians and will reduce the dependence on the consumption of foreign products and reduce poverty.”

T H I S D AY • WEDNESday OCTOBER 18, 2023

politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)

Concerns as Senator Ubah Defects from YPP to APC

The only Young Progressive’s Party Senator in the National Assembly, Ifeanyi Ubah, last week defected to the ruling All Progressives Congress barely a week to his arraignment at the Federal High Court sitting in Lagos over alleged indebtedness to Asset Management Corporation of Nigeria, Sunday Aborisade reports

he Young Progressives Party ( YPP) member representing Anambra South Senatorial District, Senator Ifeanyi Ubah, defected to the All Progressives Congress (YPP) on the floor of the Senate last Thursday. The APC Senators welcomed his defection with open arms because his action had increased their number to 60 while the minority parties now have 49 members. With the development, the APC now has 60 members; Peoples Democratic Party (38); Labour Party (8); New Nigeria People’s Party (2); Social Democratic Party (2) and the All Progressives Grand Alliance (1). Although Ubah explained his reasons for dumping YPP, his action nevertheless raised some dusts. The ranking Senator is the Chief Executive Officer of Capital Oil which he founded in 2001 with outlets mainly in the South-East and South-West regions of Nigeria with one of the largest Tank Farm for petroleum storage in Nigeria. Ubah, in his letter of defection, read by the President of the Senate, Godswill Akpabio, cited irreconcilable differences between him and the leadership of the YPP as reasons for his action. He explained that his choice of APC as a new political platform, was borne out of the party’s commitment to good governance, economic development and social progress which it had demonstrated in governance at the federal level. A part of his letter read, “I am willing to formally notify and inform the Distinguished Senate President and our colleagues of inconsiderable differences between me and the leadership of my party (YPP). “I therefore, resolve to move from the Young Progressives Party (YPP) to the most important party in Africa, the All Progressives Congress (APC). “As a dedicated politician and representative of my people, this has become exigent at this period of my political career and public service. “After thorough evaluation of the political landscape in Nigeria particularly, the good works being done by the All Progressives Congress since the emergence of Asiwaju Bola Tinubu as the president of Nigeria, I have come to realization and conclusion that the All Progressives Congress is better suited to champion the ideals and principles that can move Nigeria forward. “The APC’s commitment to good governance, economic development and social progress resonate deeply to my own conviction and the alignment of each members on key national issues for achieving the promises of any decent politician and particularly the promises that I made to my constituents to better the lot of all of them. “I am particularly impressed by the renewed hope initiative of President Bola Tinubu (GCFR) and I have found it needful to join the trend so as to integrate my senatorial district into the laudable mission of my President”. While some stakeholders in the nation’s political space claimed Ubah joined the APC because of his governorship ambition in Anambra State, others maintained that he defected so as to enjoy a safe landing regarding his case pending before a Lagos High Court. The Federal High Court sitting in Lagos had in June this year, directed that criminal summons be issued on Ubah and his company, Capital Oil and Gas Limited in Charge No. FHC/L/383C/2019, which is pending before Justice Nicholas Oweibo. The Federal Government had com-

Ubah

menced a criminal prosecution against Senator Ubah in an eight-count charge on account of his indebtedness to the Asset Management Corporation of Nigeria (AMCON), sometimes in 2019. The charge include alleged conspiracy in making false claims in relation to the actual values of certain assets transferred to AMCON under a consent judgment obtained in 2012 contrary to Section 54(1) of the AMCON Act. At the resumption of the proceedings on Tuesday, June 13 this year, the prosecutor, Tunde Lawal from the law firm of Kunle Adegoke (SAN) informed the court that the defendants had been served with the amended

charge and hearing notice of the business of the day. He also told the court that at the last adjourned date, Ubah was not in Court, despite a hearing notice of that date served on him. On that basis, he sought issuance of a bench warrant against the lawmaker However, counsel to the defendants, Ifeoma Esom, informed the Court that the matter was for report of settlement/ plea and that they were unformed that morning that settlement talks had failed. He said it was on the basis of settlement that the 1st defendant was not in Court. The prosecutor objected to the defense counsel’s argument, saying settlement cannot be reported in a criminal matter, as parties may choose to settle outside the court but that cannot form part of the proceedings in a criminal case and the

While some stakeholders in the nation’s political space claimed Ubah joined the APC because of his governorship ambition in Anambra State, others maintained that he defected so as to enjoy a safe landing regarding his case pending before a Lagos High Court. The Federal High Court sitting in Lagos had in June this year, directed that criminal summons be issued on Ubah and his company, Capital Oil and Gas Limited in Charge No. FHC/L/383C/2019, which is pending before Justice Nicholas Oweibo. The Federal Government had commenced a criminal prosecution against Senator Ubah in an eight-count charge on account of his indebtedness to the Asset Management Corporation of Nigeria (AMCON), sometimes in 2019.

best that can happen is a plea bargain. He added that settlement outside court does not give the 1st defendant, (Senator Ubah), the authority to be absent from the Court. The Court declined to issue a bench warrant but ordered that summons be served on Senator Ifeanyi Ubah through his counsel, to appear in Court on the next date, which is Wednesday, October 18, 2023. The Court also warned that a warrant would be issued for his arrest, if Ubah fails to appear in Court at the next adjourned date. The Court then adjourned the matter to 18th October 2023 for arraignment. The Federal Government had on December 4, 2019, filed charges against Ubah, for alleged false claims and a debt of N135 billion to the Asset Management Corporation of Nigeria (AMCON). One of the charges reads: ”That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometime between 2012 and 2018, conspired in making false claims in relation to the actual values of certain assets-transferred to Asset Management Corporation of Nigeria (AMCON) under the consent judgment delivered in Suit No. FHC/ ABJ/CS/714/2012 on the 1st day of July, 2013 in partial payment of the Indebtedness of Capital Oil and Gas Industries Limited with a view to defeating the realisation of the said judgment debt of Capital Oil and Gas Industries Limited to AMCON, then standing In the sum of 135 Billion Naira contrary to Section 54(1)(a) and (d) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).” It is not certain whether Ubah’s decision to join the ruling party would earn him a safe landing in the Court or not. Only time would tell.

T H I S D AY • WEDNESday OCTOBER 18, 2023

FEatures

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

Sudan Crisis: Security Threats and Implications for Nigeria and Beyond

Senator Iroegbu in this article, gave an insightful analysis that dissects the Sudan crisis, exploring its historical underpinnings, regional impact, and global responses. This comprehensive overview draws from a recent roundtable, where experts converged to unravel the crisis's complexities. Delving into the crisis's roots in poor governance and military rule, the discussion sheds light on the dynamics between the Sudan Armed Forces and the Rapid Support Forces. As violence escalates, the urgency of humanitarian intervention is underscored, complemented by recommendations spanning from peace initiatives to bolstering security across the region, as well as discover a roadmap for addressing the crisis's far-reaching implications and safeguarding national and regional stability

Cross section of officials, facilitators and participants at the roundtable in NDC, Abuja

takeholder Perspectives The persistent crisis in Sudan has inflicted widespread suffering, death, and displacement over the years. The turmoil escalated significantly in April 2023, unleashing widespread conflict and prompting international evacuations. This dire situation carries substantial security and strategic implications for Nigeria and beyond since Sudan shares borders with about seven countries and the Red Sea. Rooted in ethnic tensions, power struggles, and economic challenges, this crisis demands international attention and concerted efforts for resolution. In light of these critical circumstances, stakeholders within the academia, security, and diplomatic sectors have voiced increasing concerns about the evolving Sudan crisis. They contend that the crisis poses immediate threats to Nigeria's national security and underscore the urgency for proactive measures by the government. These concerns came to the forefront during a roundtable discussion titled "The Sudan Crisis: Implications for National and Regional Security," organized by the Centre for Strategic Research and Studies (CSRS) at the National Defence College (NDC) in Abuja. The roundtable aimed to address the ripple effects of years of political and economic turmoil in Sudan, particularly the dire April 2023 crisis that has caused the collapse of various government institutions, thereby endangering regional and global security. Chaired by Prof. Adam Ahmed, the Provost of NDC, and facilitated by the former Acting Provost and Training Coordinator of CSRS at NDC, this roundtable event garnered participation from a diverse group of stakeholders. Government Ministries, Departments, and Agencies (MDAs), the Military, Academia, the Diplomatic Corps, International Organizations, Non-Governmental Organizations (NGOs), and Civil Society Organizations (CSOs) were all represented. The discussions at the event delved into key topics such as the background of the Sudan crisis, African and global responses, as well as its implications for national and regional security. Dr. Victor S Akran highlighted Sudan's historical context leading to the current crisis, Prof. Warisu O Alli discussed responses from Africa and the world, and Amb AO Enikanolaiye and Prof. AM Ashafa shared insights on the implications of the crisis on security. Stakeholders expressed deep concern that the Sudan crisis could exacerbate the influx of illicit Small Arms and Light Weapons (SALW), illegal migrants, and criminal elements across Nigeria's porous borders. To mitigate these potential threats, stakeholders strongly recommended the deployment of advanced technology and increased manpower for bolstering border management. Additionally, they stressed the importance of Nigeria learning from the crisis, ensuring the empowerment of non-state actors without compromising national

security. This, they believe, warrants a comprehensive review of Nigeria's foreign policy to underscore unity as a core value while prioritizing citizen well-being and security. While advocating for Nigeria's active engagement in resolving the Sudan crisis and assuming a more proactive role through the African Union Peace and Security Council, stakeholders urged the speedy implementation of the AU Roadmap and IGAD's comprehensive peace plan. Emphasizing that the crisis finds its roots in decades of governance challenges dating back to the colonial era, stakeholders noted Sudan's attachment to military authoritarian rule. They attributed the current crisis to the strained relationship and power struggle between the Sudan Armed Forces (SAF) and the Rapid Support Forces (RSF) following the 2021 military coup. The RSF's push for immediate integration into the Sudanese armed forces clashed with the SAF's preference for gradual integration, reflecting differing perspectives on national development and foreign policy. Notably, the SAF's affinity for China and Russia contrasted with the RSF's alignment with Western powers such as the US, UK, Saudi Arabia, and the UAE. This discord resulted in ruthless violence against civilians and widespread destruction, compelling the evacuation of foreigners, including Nigerians. The turmoil triggered internal displacement and forced thousands into refugee status. Despite the efforts of the African Union, the sub-regional organization IGAD, and the United Nations, appeals for ceasefire and humanitarian intervention have faced limited success. Stakeholders strongly recommended the establishment of a mediation process between the warring Sudanese factions. They further emphasized the importance of funding the AU Peace Fund and drafting a Security Sector Reform plan for Sudan, ensuring the integration of RSF into the SAF. To secure Sudan's territorial integrity and discourage foreign intervention, the AU, UN, and other key stakeholders were urged to play an active role. The roundtable discussions made it evident that the Sudan crisis is a complex issue, rooted in historical, political, and cultural dynamics, necessitating a multifaceted approach. The recommendations presented by stakeholders are a call to action for the international community, particularly African nations like Nigeria, to work collaboratively toward resolving the crisis, restoring stability, and safeguarding

regional security. Global Response The Sudan crisis has garnered international attention, prompting a multifaceted response from the global community. Prof. Warisu O Alli, an expert in African and Global Responses to the Sudan Crisis, sheds light on the efforts undertaken to address this dire situation. The crisis, characterized by civil strife, displacement, and violence, necessitated diplomatic initiatives and humanitarian aid on an unprecedented scale. Alli emphasizes the pivotal role played by the AU in responding to the crisis. The AU's response has been characterized by firm condemnation of the violence, a call for ceasefires, and active advocacy for political dialogue. This approach underscores the AU's commitment to achieving a coordinated international response and facilitating a transition toward civilian-led governance. The AU's emphasis on political solutions over military actions reflects the organization's dedication to sustainable peace. The Intergovernmental Authority on Development (IGAD), comprised of eight member countries including Sudan, also took swift action in response to the crisis. IGAD's response included a call for an immediate ceasefire and the establishment of a committee focused on achieving cessation of hostilities. However, it was the involvement of the United States and Saudi Arabia that yielded significant breakthroughs. Negotiations in Jeddah led to the Jeddah Declaration, which aimed to safeguard civilians and ensure humanitarian access within Sudan. In parallel, international organizations such as the United Nations High Commissioner for Refugees (UNHCR) and the International Organization for Migration (IOM) extended critical humanitarian aid to address the crisis's impact. Despite these efforts, the situation escalated, resulting in heightened violence, displacement, and deteriorating living conditions for the Sudanese population. The comprehensive international response focused on securing ceasefires, delivering humanitarian assistance, and supporting vulnerable communities affected by the crisis. Humanitarian intervention emerged as a driving force, with numerous organizations providing essential aid such as food, medical supplies, and assistance for those affected by the crisis. By July 2023, the dire conditions had left numerous health facilities damaged, infrastructure in ruins, and medical supplies in short supply. The Sudanese population faced a daunting challenge, exacerbated by existing vulnerabilities. This underscored the continued need for international support and aid to address the crisis's complex ramifications. Alli delves into the principles of Responsibility to Protect (R2P), which place an obligation on states and the global community to intervene in intrastate conflicts to prevent crimes against humanity, war crimes, and ethnic cleansing. This

responsibility takes diverse forms depending on each nation's interests. China, a permanent member of the UN Security Council, maintains a neutral stance, while Russia has pursued independent interests, including supplying arms and security support to Sudan. While the international response to the April 2023 crisis in Sudan has been substantial, diverse actors' distinct motivations highlight the need for enhanced coordination and cohesion among these efforts. The AU aspires to provide an African solution to Sudan's crisis, but resource limitations hinder full support for its initiatives. To address this, a call is made for clear frameworks that facilitate engagement between international, regional, and sub-regional organizations and the countries affected by the crisis. Such coordination is pivotal in avoiding disjointed interventions. In conclusion, the global response to the Sudan crisis has encompassed diplomatic efforts and robust humanitarian initiatives. The United Nations, regional bodies, donor nations, and NGOs have all contributed to stabilizing Sudan, protecting civilians, and promoting the transition to an inclusive government. However, given the crisis's intricate nature, persistent challenges, economic disruptions, and mass displacement, continued international support and collaboration are imperative. Both the AU and the global community should brace for the possibility of an extended and escalating conflict while steadfastly striving for lasting peace, democratic governance, and prosperity in Sudan. Implications for National and Regional Security In a comprehensive examination of the Sudan crisis, Prof. AM Ashafa from Kaduna State University delved into its intricate layers, shedding light on its implications for national and regional security. Prof. Ashafa's analysis encompassed three core dimensions: the historical background, African and global responses, and the wide-ranging implications for security at various levels. Highlighting the crisis's roots, Prof. Ashafa pinpointed the pivotal roles played by two rival Generals, Abdel Fattah al-Burhan and Mohammed Hamdan Dagalo (Hamdet). These generals were central figures during the transition from the al-Bashir regime to a transitional sovereign council (TSC), a crucial step toward democratic governance in 2021. However, the dismissal of civilian TSC members by al-Burhan exacerbated tensions, laying bare a power struggle characterized by notions of supremacy, legitimacy, and authority. This conflict takes on an existential magnitude as both factions perceive victory as essential for their survival. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY

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WEDNESDAY OCTOBER 18, 2023

SONNY ARAGBA-AKPORE argues that Tijani’s plans are ambitious

TELECOMS ROADMAP AND A MINISTER’S DREAMS Cerebral as Bosun Tijani, Nigeria’s Communications, Innovation and Digital Economy Minister may be, his 31-page roadmap for telecommunications sector looks ambitious and a dream taken too far. Nigeria is a very interesting country where there are constant policy somersaults. This is a country described by the late Edo musician, Osayomore Joseph that “by special arrangement, God and Satan could agree to hold a mutual meeting” (strange handshakes) and resolve issues. So far no one has faulted the musician. And the Abami Eda (the strange one) Fela Anikulapo-Kuti was even more direct in his

admonition. “Dem go turn green to red and white to blue” in one of hit songs deployed to lampoon the establishment. But I admire the minister’s courage and his good intentions fueled by his deep beliefs. We can only wish him success within the space of time that he has because even if he stays on for eight years, let us assume that there are no hiccups, and Nigeria does not happen to him, as it will still end up as a wild goose chase. So I write with cautious optimism. Let us refresh a little about a few things in the telecommunications industry and what happened before Tijani came. A minister before him initiated Rural Telephony Project (RTP) for which millions of dollars were budgeted /invested but shortly after, nobody heard anything about the project. The project ended before it began and nobody has been rebuked for that, and nobody is telling us what happened. Years later, the Nigerian Communications Commission (NCC) came out with a beautiful initiative tagged Open Access Model through Infrastructure Companies (Infracos) to improve on the rural telephone programme . This model was properly defined and expected to take telecommunications services to unserved and underserved communities in Nigeria. Ordinarily, the NCC sold the idea to the government which accepted the template and was prepared to run with it. Licensees were to deploy services to the areas/zones they were licensed. The NCC voted huge funds to actualise the programme based on timelines to be fulfilled by licensees before the commission could disburse money to the companies to enable them take the services to the six geopolitical zones of Nigeria including Lagos and Abuja. Beautiful as the idea was, after huge expenditure, not one single company has shown any significant moves in taking the services to those for whom they should. Because of the attraction of the funds

from NCC, the programme became political tools as some of the beneficiaries of the licences began to jostle for the money even when they were not sure of any tangible timelines. The Open Access Model for Next Generation Optic Fibre Broadband Network Initiative of 2014 was very robust in template but no company showed any meaningful progress in its implementation. The idea was for the Infracos to provide lastmile services in the six geopolitical zones with Lagos standing alone for its peculiarity being the commercial hub of the country. Main One Cable Company Limited and IHS Limited got the first two licenses to cover Lagos and the North Central zone including the Federal Capital Territory (FCT) respectively. But for reasons not too far from alleged bottlenecks for commercial roll-out of its services, IHS declined the license a few years later. The NCC named five companies to cover North East Zone (Brinks Integrated Solutions Limited) North West (Fleek Network Limited) South-South (Raenna Nigeria Limited) South West (Odua Infraco Resources Limited) and Southeast (Zinox Technology Limited). The Infracos were expected to cover access gaps especially in underserved and unserved areas of the country and provide a wholesale layer to transmission services on a non-discriminatory open access price regulated basis. They were also expected to provide layer 1 metro dark fiber services on a commercial basis, and deployment of metropolitan fibre to provide transmission services of point of access to seekers. Nine years after, the programme remains unimplemented and nobody is telling us what happened to the funds that were voted for the project. If he so wished, the minister may open up inquiries into this with NCC officials to make an honest presentation on the status of the Infracos if indeed they still have it in their books and ready to review and implement it according to the plans put in place for that purpose. The minister may be alarmed at what he will be told. Tijani should also ask questions too about the fate of the fifth generation networks (5G) so he could be adequately guided on the progress recorded so far by the beneficiaries of the licenses including the federal government and the NCC as operators are tongue- in -cheek about their challenges. He may be shocked to note that the network operators and the citizens have very little to show for this. He will note too that the government is the biggest beneficiary of 5G licensing because the licensing fees of $820.8 million went to the federal government and while the network providers and the regulator think of what to make out of this, the citizens are “Waiting for Godot” as Samuel Beckett wrote. So when Tijani released his very interesting roadmap, the other day, he probably forgot that he was not going to have a solo race especially in a country where there is a strange relationship between policy and implementation. Mister Minister sir, you mean very well especially having been successful as an entrepreneur but you are in Nigeria and you are not running alone so even if you believe in your capacity to achieve the milestones you have listed, can you also vouch for your team members? Aragba-Akpore is a member of THISDAY Editorial Board

The government at the centre has too much money to play with, contends JOSEF OMOROTIONMWAN

CORRUPTION MADE EASY Deliberate effort is made to restrict our analysis to modern times. At independence in 1960, Nigeria was a perfect place to be. There was peace everywhere. Discipline flowed from the home to the school, the church, and the workplace. At home, the virtues of honesty were constantly inculcated in us. This was carried over to the school where the first motto of every pupil was “honesty is the best policy”, which people parroted everywhere, even before they knew what it meant. At this time, the Zoe concept was unknown. The focus of the church was more on eternity rather than prosperity. You were not required to break the bank to make fat offerings to make it to the first seat in the church. If you worked for the government, you were closely guided by the STAFF REGULATIONS and the FINANCIAL MEMORANDA not to live above your means. Any deviation from the rule was visited with appropriate sanction and punishment - both within your community and in your workplace. You were closely watched. No matter how long you might have been

a clerical officer, people knew that all you could get was a Bicycle Advance. If you were mistakenly seen in possession of a mobylette – the least motorcycle of the time, you were a suspect of your community and a candidate for jail in the workplace. Where did the bottom fall off in all this? We soon entered into a civil war from 1967 to 1970. Everything went awry! Recruits in the army, some of whom had no evidence of having Primary School Leaving Certificates, but who found their way into the juicy section of the army like the Pay and Record Section became millionaires and billionaires overnight. Discipline died and one person could own estates in the world’s capitals and they owned fleets of cars such that they could drive whichever car was appropriate for the colour of the cloth they had on for every occasion. The ostentatious lifestyle soon spread to every segment of the civil society. Stealing and corruption had become easy. There was stability; and law and order reigned supreme. A person who was going into the public service knew when he was entering and could tell with relative ease when he would retire barring a major accident or unforeseen disaster. So, he worked steadily towards retirement. But with the entry of the military into government, a person could go to work and on his way home, he would hear on his car radio that he had been dismissed with immediate

effect. Alas, his gallant gamble had ended in the dust! Anyone who is waylaid should be the best judge of how to get home. Now that security of tenure was no longer guaranteed, people in the public service began to seek ways of fending for themselves since they did not know when the next Martial Music was going to play and they were gone! That was how humongous stealing gradually began to creep into the public service. Meanwhile, the federal government has for itself, the glorious title of a pimp. Like any other pimp, the federal government reaps where it did not sow. Let us see how stealing and corruption have since become very easy for this pimp. In the name of federalism, all revenues collected during the month are kept in a common pool known as the Federation Account. From where it is distributed among members of the federating units at the end of the month. The distribution here is on a formula already agreed on. That account does not belong to the federal government. At best, the federal government could be the eldest brother in the family of the federating units. In the pseudo-federalism that we operate, the Federal Government has assumed the role of the keeper of the account. The balance of that account is what the Federal Government says it is through the office of the Accountant General of the Federation, so-called. That which is the accountant general of the federation is indeed the accountant general of the Federal Government. While other members of the federating unit are struggling to swim a little above water, the federal government always has enough to eat, steal, and throw about. We shall see a few ways in which this happens. Whereas, it makes sense that authorities should build their budgets on all the money available to them. We have dubiously formed the habit of setting a low benchmark on which we base our annual appropriations. Any revenue above the benchmark is kept in what is called the Excess Crude Account — not covered by any appropriation. The Excess Crude Account has become a veritable source of slush funds for all sots in utter defiance to the constitutional requirement that all revenue should be paid into the Consolidated Revenue Account of the federation. An unaccountable federal government easily dips its hand into this pool and has some N200 billion to appease the Cattle Rearers Association. Here, the federal government wallows in colossal waste and ostentation while the states and localities struggle in abject poverty. When it is becoming glaring that the federal government is becoming heavy in the act, the state governors are invited and given some handouts dubiously labelled Federal Assistance. Knowing the source of the dubious handout, some Governors simply pocket the money and look away. That’s stealing made easy. Omorotionmwan writes from Canada

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T H I S D AY

WEDNESDAY OCTOBER 18, 2023

EDITORIAL

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

TACKLING PIRACY IN GULF OF GUINEA The authorities must do more by ridding the waters of pirates

particular, hampers freedom of movement in atest revelation from the International the region, disrupts trade and economic growth, Maritime Bureau (IMB) of a rise in and facilitates environmental crimes,” according reported incidents of piracy in the to the United Nations Security Council which Gulf of Guinea is troubling. Twenty once disclosed that Nigeria was losing about $1.5 one incidents were recorded in the billion a month due to piracy, armed robbery at first nine months of 2023, compared sea, smuggling and fuel supply fraud in the Gulf to 14 during the same period in 2022. “The IMB of Guinea. sees regional ownership as critical to safeguard The root causes of piracy in the region, according shipping and trade and to address these crimes,” to experts, are ineffective governance structures, said IMB Director, Michael Howlett. weak rule of law, precarious legal frameworks To say the least, this spate of attacks is worrisome and inadequate naval coast guard, and maritime as it has given Nigeria and other countries in the law enforcement. Yet piracy drives fear into Gulf of Guinea a negative image in the comity shipping practitioners, especially ship captains of maritime nations. The negative impact of this and master mariners. While there is unanimity of development goes beyond the oil industry to opinion among shipping the larger economy. practitioners that sea Apart from reducing piracy cannot be totally the number of vessels NIMASA has always advocated that a legal framework that prescribes eradicated, it is also a calling at the nation’s fact that with concerted seaports due to the fear stiffer sanctions, a more vigorous and vigilant military-led patrol and efforts by all relevant of an imminent attack, stakeholders, the menace it has helped in no small better intelligence gathering network would be required can effectively be measure to increase the contained. We therefore cost of doing business in enjoin authorities to do Nigeria as ship owners T H I S D AY more to make our waters safe and rid our country and the consignees now charge higher than EDITOR SHAKA MOMODU of what has become another emblem of shame. they do for other countries. The huge costs are DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA Apparently mindful of the importance of eventually passed off in the cost of freight to the MANAGING DIRECTOR ENIOLA BELLO the sector, President Tinubu has appointed a DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU final consumer. Besides, the high number of lives Minister for Marine and Blue Economy. Beyond CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI lost to such crime aside, piracy drives fear into EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN resolving the problems at the ports, Adegboyega shipping practitioners, especially ship captains THE OMBUDSMAN KAYODE KOMOLAFE Oyetola must work with the security agencies and and master mariner. counterparts in the oil and gas sector to tackle For years, the Gulf of Guinea has acquired a ‘petro-piracy’ involving the hijacking of tankers notorious reputation with regular pirate attacks for oil theft. We must rid the Gulf of Guinea of on merchant and fishing vessels. For instance, T H I S D AY N E W S PA P E R S L I M I T E D these dangerous pirates. the 2021 report by the International Chamber EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA In addressing the challenge, the Nigerian of Commerce revealed that over 95 per cent of GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, Maritime Administration and Safety Agency the 135 shipping crew members kidnapped the ISRAEL IWEGBU, EMMANUEL EFENI (NIMASA) has always advocated that a legal previous year were recorded in the Gulf of Guinea DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, framework that prescribes stiffer sanctions, a ANTHONY OGEDENGBE and mostly on Nigerian waters. “Incidents in more vigorous and vigilant military-led patrol DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI the Gulf of Guinea are particularly dangerous, SNR. ASSOCIATE DIRECTOR ERIC OJEH and better intelligence gathering network would as over 80 per cent of attackers were armed ASSOCIATE DIRECTOR PATRICK EIMIUHI be required. The federal government must work with guns,” the IMB had stated. “The absence CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI to ensure that the Nigerian territorial waters do of an effective maritime governance system, in DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO not continue to harbour criminals. TO SEND EMAIL: first name.surname@thisdaylive.com

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

LETTERS NIGERIA AND THE UNEMPLOYED YOUTH

Millions of Nigeria’s young people face an uncertain future. What can the country expect from this generation of the deprived? Life always comes in stages and circles. At independence in 1960, Nigeria brimmed with prodigious promise. Six years earlier, oil had been discovered in Oloibíri. The discovery was like a lottery ticket for a country that was always headed in one direction - up. There is really no need to rehash why a beautiful story has since turned sour. Nigeria has many of its citizens aged between 18 and 25. That time is universally recognized as the time of youth. That is when people are at their strongest and fittest, physically and intellectually. Before then and after then, most people are defined by fragility. Experience has shown that a country can either decide to make use of its youth in one of two ways – negatively or positively. When any country properly harnesses the potential of its youth, it sets up itself nicely for speedy development. When things go the other way, though, young people, who are ordinarily an invaluable resource, can quickly become a time bomb. When able-bodied young people are left with nothing to do and no option but to do anything to survive, they soon become inventive in the worst possible kind of way. The proliferation of terrorist groups in the country has been aided by the presence and desperation of many young

people, who suddenly find out that they can channel all their frustrations into something worthy. With the current commercialization of terrorism through profitable ventures such as banditry and kidnapping for ransom, crime has not just become a distraction for many young people, it has also become a means of livelihood. Nigeria’s young people remain immensely frustrated by the state of their country. It is like they have run into a dead end with nowhere to run to and the future looking increasingly bleak. Efforts to get young people to repose some hope in the future of the country have floundered. This has made a kind of response inevitable. This response is seen in the desperate drive of many to leave the country. The last elections showed a country precipitously perched on a knife-edge. It was closely fought and even today, the battle rages on in the courts over who won the election. In the wake of such a tightly contested election in which the majority of young people supported the candidate of a party that was deemed the loser, despondency has become the lot of many young people. Unemployment bites as hard as it can in the circumstances. When crunch economic conditions are thrown into the mix, there is a mishmash of backbreaking conditions.

Many of Nigeria’s young people grew up being told that the future belongs to them. Today, nothing is further from the truth. Septuagenarians and octogenarians hold sway in Nigeria’s highest offices, and expectedly they treat young people with barely disguised disdain. This disdain is usually put into policies and politics. But it also often insidiously seeps into political appointments and other opportunities. So, at the end of the day, young people feel used, abused and suffocated. Because they are always left holding the short end of the stick, they seek ways to express their frustrations and further the prevalent intergenerational tension and friction. The EndSARS protests of 2020 were a case in point. For about a month, young people wielded protests like a weapon. Their target was police brutality, but at the bottom of it all was a general dissatisfaction with the state of the country. Today, young people in Nigeria remain at the mercy of factors beyond their control. They have to brave the odds to make ends meet or risk irrelevance. Those who cannot leave the country have to do whatever it takes to survive. Many times, that involves actions inimical to a better society. Ike Willie-Nwobu, Ikewilly9@gmail.com

WEDNESDAY OCTOBER 18, 2023 •T H I S D AY

T H I S D AY • Wednesday, October 18, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

O c to b er

S & P INDEX

1 7 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

DMBs Loan-to-Deposit Ratio Shrink Amid Growing Profit

Kayode Tokede Despite declaring impressive profit in half year ended June 30, 2023, most leading Deposit Money Banks (DMBs) operating in the country reported decline in Loan-to-Deposit ratio (LDR), THISDAY analysis of the banks results has revealed. The decline is against the stipulated 65 per cent requirement of the Central Bank of Nigeria (CBN). Zenith Bank Plc, Guaranty Trust Holdings Company Plc (GTCO), FBN Holdings Plc, Access Holdings Plc, United Bank for Africa Plc (UBA), and Tier-2 banks failed to meet the CBN’s 65 per cent

LDR requirement in the period under review. The CBN had in October 2019 raised the LDR of banks to 65 per cent, after the September 30, 2019 deadline given to the DMBs to meet its 60 per cent directive. The apex banking regulating body, however, extended the deadline to meet the 65 per cent LDR to March 31, 2020. There were speculations that the threshold could be raised to 70 per cent by the end of 2020, but the CBN stated in the circular that, “All DMBs are required to maintain this level and are further advised that average daily figures shall be applied to assess compliance going

forward.” In the period under review, Access Holdings declared 60.94 per cent LDR as of H1 2023 from 60.06 per cent in 2022, while GTCO announced 36.60per cent LDR as of H1 2023 from 40.9per cent reported in 2022. Zenith bank, banking subsidiary declared 50.4 per cent LDR in H1 2023 from 51.6 per cent in 2022 as the Group’s LDR closed June 30, 2023 at 46.3 per cent from 45.6 per cent reported in 2022. As FBN Holdings posted 60.2 per cent LDR as of June 30, 2023 from 55.20per cent in 2022,m while UBA reported 42.03 per cent LDR

as of June 30, 2023 from 44 per cent reported in 2022 full financial year. In addition, Wema Bank declared 46.35 per cent LDR as of June 30, 2023 from 43.95 per cent in 2022, while Sterling Bank announced 63.40 per cent LDR as of June 30, 2023 from 66 per cent, above the CBN’s 65 per cent in 2022. According to THISDAY findings, Stanbic IBTC and Fidelity Bank were the only DMBs with LDR above 65 per cent threshold of CBN. Fidelity Bank and Stanbic IBTC announced 83.29 per cent and 72 per cent LDR as of June ended June 30, 2023, respectively. DMBs have been cautious of

extending credit to the private sector due to the country’s economic downturn, occasioned by the impact of post-COVID-19 which crippled global economy, Russia-Ukraine war, among others. Despite aggressively growing customers’ base, and sustained increase in loan & advances to customers, these Teir-1 banks between 2019 and 2020 have come short of meeting the LDR policy of CBN. Meanwhile, THISDAY investigation showed that GTCO, among the investigated Tier-1 DMBs had the lowest LDR. Access bank with 62.1 per cent

LDR in 2019 reported 50.7 per cent in 2020, a decline of 11.4 per cent while GTCO’s LDR closed 2020 at 43.2 per cent from 60.62 per cent reported in 2019. FBN Holdings’s reported LDR of 46.8 per cent in 2020 from 48 per cent in 2019. Reacting, the Vice President, Highcap Securities Limited, Mr. David Adnori said that the demand by CBN on 65 per cent LDR is a difficult task, stating that, “Loans are granted to borrowers’ in-line with the cannon of lending. The story continues online on www.thisdaylive.com

Bala-Usman: FG to Commence Quarterly Assessment of Ministries in 2024 Ugo Aliogo The Special Adviser to the President on Policy Coordination, Hadiza BalaUsman, has stated that the federal government would commence the quarterly assessment of respective ministries, in January 2024, as part of measures to have quarterly assessment of the performance of the ministries, which would culminate into an annual scorecard. She also stated that by January, 2024 when the assessment would begin all ministries would have received their 2024 budget and would be able to clearly follow the roadmap

that has been so defined within the context of their deliverables. Bala-Usman, who stated this yesterday during an interview on TVC News Breakfast show, said before the January, 2024 quarterly assessment, there would be a cabinet retreat in the first week of November, which would have President Bola Tinubu and the cabinet in attendance, adding that at the end of the meeting, everyone would commit to the performance bond signed by each ministry. She remarked that every minister and permanent secretary would sign the performance bond, which

would detail what the ministries are expected to do within the 2024 one-year budget cycle. She averred that the performance bond is what would be used to track the performance of the Minister, noting that citizen engagement is a key aspect of what they seek to achieve and ensuring that citizens are part of the assessments. The former Nigeria Ports Authority (NPA), Managing Director further explained that for some of the clear submission around deliverables that are project based, they are going to deploy a software where citizens are able to report back on

project-based deliverables that the federal government have committed to doing within the period of 2024. According to her, “We are going to look at the best mechanism that we will use in ensuring that there is a citizen accountability metrics relating to non-project-based deliverables. Those are the areas we are looking at having a full circle of accountability, meaning that within the government; we have our consequence management framework. “The framework seeks to ensure that there are consequences for actions and inactions of Ministries,

Department and Agencies of government, where they are unable to perform or deliver on deliverables that has been so agreed by themselves. It is important to note that there are other aspects of people’s deliverables that are tied to other sectors or MDAs, so our job is to ensure that we de-bottleneck those areas to the extent that a ministry for instance, has an area of its deliverable that is tied or has a direct linkage with another ministry.” “So, our job is to ensure that we follow up with our sister ministry to ensure that we de-bottleneck those aspect of inter-relationship, to

make sure that there is synergy and that your own deliverable is also being looked at while recognising other aspect of deliverable. But primarily, we have an enhanced monitory framework and we have an enhanced M and E deployment. We are also going to deploy the consequence management framework, which will clearly define what it is that will attract a non-performance in terms of the grading of the key performance indicator. The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T u e s d ay, O c t o b e r 1 7 , 2 0 2 3 BONDS Description Price Yield Change Updated Time (%) ^13.53 23October 100.95 12.77 0,00 17, 2023 MAR-2025 October ^12.50 220,00 17, 98.78 13.11 2023 JAN-2026 ^16.2884 17October 108.14 13.24 0,00 MAR-2027 17, 2023 ^13.98 23October 99.32 14.18 0,00 FEB-2028 17, 2023 ^14.55 26October 98.82 14.87 0,00 17, APR-2029 2023

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

NTB 26-Oct23 NTB 9-Nov23 NTB 7-Dec23 NTB 25-Jan24 NTB 8-Feb24

1.80

October 0.00 17, 2023

2.57

October 0.00 17, 2023

3.92

3.94

October 0.00 17, 2023

3.75

3.79

October 0.00 17, 2023

4.45

October 0.00 17, 2023

JULI CP II 25-OCT-23 ZEDC CP I 17-NOV-23 NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

4.39

OTC F X F U T U R E S

CPs Discount Yield 16.82

16.88

14.68

14.86

19.23

19.60

11.26

11.39

19.22

19.60

Change (%)

Updated Time

October 105,00 17, 2023 October 79,00 17, 2023 October 74,00 17, 2023 October 72,00 17, 2023 October 72,00 17, 2023

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS OCT 1 – 30 2024 NGUS NOV 2 – 27 2024 NGUS DEC 3 – 24 2024 NGUS JAN 4 – 29 2025 NGUS FEB 5 – 26 2025

Updated Time

October 17, 2023 October 17, 2023 October 17, 2023 October 17, 2023 October 17, 2023

Wednesday, October 18, 2023 • T H I S D AY

BUSINESSWORLD

INTerview

Musa: Effective Tax Collection Will Resolve Nigeria’s Debt Challenges The Director General West African Institute for Financial and Economic Management (WAIFEM), Baba Yusuf Musa in this interview discussed his presentation at the just concluded World Bank/IMF annual meetings in Marrakech, which focused on budget mechanisms and strategies to minimize fiscal risks in the economy. Additionally, he addressed methods to enhance tax revenue generation and offered a comprehensive perspective on the direction of the Nigerian economy. Nume Ekeghe present excerpts; Can you speak on the paper you presented at the meetings? he paper looked at the fiscal risks that are arising which the Nigerian government needs to take note of. What the paper really looks at is the reason we always have deviations in our budget from what was forecast at the beginning of the budget to the end of the budget, we always have over the years have variation. And the principal reason was because of the fiscal risks that are associated with the economy. We thought it would be good to highlight it for the government to take note and see how they can take precautionary measures to make our budget more resilient.

What were these fiscal risks that you identified in Nigeria’s budget? I identified about nine risks, which we need to take note of ranging from the hidden debt. By hidden debt, I mean, the debts that are not disclosed which the government usually do not report in the debt statements. Examples are inter-agency institutional debt. Inter-agency debts are debts that are usually not reported, but then they are entities that owe contractors and those are all debts that do not reflect in the actual government budget. Then, we also have other risks such as climate issues, you realise that, in recent times we have been having many climate disasters and other related issues. In addition to that we have the forecast that we usually make for instance the exchange rate, which does not really reflect the reality. If you look at the current situation, right now. If you are a state government with some amount of external debt, based on the budget that was actually projected. Now because of the devaluation of the naira, you have to generate more Naira to be able to pay for this service. But at the time of the budget formulation, perhaps you might have you know, budgeted some amount that is far less than what currently exists in the exchange rate. So, all those volatilities were highlighted to call the attention of the government. Above all, when you look at the growth forecast for the country, over the last two years we have experienced anaemic growth, and the outlook is actually not looking as gloomy as we think. The cost-of-living crisis is increasing. So most likely, we will have an increase in cost as a result of some of the policies that the new regime found necessary to achieve. So, all those fiscal matters that will maybe make the budget deviate from the time of forecast, we highlighted them all during the presentation. What is your impression of some of these recommendations at the annual meeting given the fact that back home, the impression is that we’re already beginning to suffocate following energy, currency reform and so many things happening in Nigeria? I really sympathise with Nigerians, but these are all issues that we’ll be raising over a very long time. We have underlying issues that should have been addressed much earlier, but the symptoms have been showing over the years. Unfortunately, we were not courageous enough to address all of them. I think this new regime came and found it necessary to address those anomalies in our economy. It’s like you been a sick person. Sometimes when you go to a medical doctor to be able to, you know, solve your problem. You might have to put yourself through some additional pains to go through before the sickness is, is addressed. So, in our context, one can look at it from a building perspective, you can take that analogy that when you have a building that has a good foundation, and should there be any earthquake or anything that will cause the building to shake. As long as it has a good foundation, the likelihood of that building remaining strong it all will be there, but where you have a bad foundation and then of course, there is any volatility, then you realise that in the end, the building will suffer, if not collapse, but there will be serious damages. So, that’s exactly what happened in our own context. There were several fundamental issues with our economy that should have been addressed much earlier. And I think the commitment of the government was part of the issue or part of the reason why we have been dancing around certain things instead of addressing the fundamentals. That’s why for a very long time, this issue of things like subsidies, has been raging, I remember in the last 10 years, we have all been talking about it. We haven’t had any courage from the government side to address those ones. But now a new regime came and

Musa thankfully they have to really tackle the issue, but not only subsidy, of course, the exchange rate is there, and so many other economic issues that should have been addressed. But I think there is still some room for improvement. Though the new government is trying to make an effort to increase tax revenue, which is the fundamental problem with our economy, we still have a long way to go in terms of mobilising the actual tax revenue that Nigeria should have. Once we address the issue of tax, I believe that more than half of our problems in terms of debt issues, public expenditure will be address. Tax was the major focus throughout the discussions at the meeting, the need to raise more tax revenue and all that. But the companies are already bleeding, and individuals are also reeling because of the reforms, what can the government do in this situation? There are a lot of opportunities for us to tax. The presentation I gave, I highlighted four principal areas where the government needs to really look into. Number one is the issue of property tax. When you take the property tax ratio to GDP of Nigeria is virtually less than one per cent, despite all the wealth that we have. When you take the ratio of properties to GDP is less than one per cent compared with an average of about five to 10 per cent in lower-middle-income countries like ours. That is one source that we can look at, and there are several opportunities to mobilise those tax revenues on properties. Just take the capital cities of any of our states and see the number of buildings, and how many landlords are actually paying tax to the government. If you take that ratio, you realise that there are very few and there are just some minimal issues that government should do to mobilise those ones. We need to have like a register that identifies who the owners of properties are and have a reporting format that can easily be tracked. If you give out your house on rent, it is a source of income and you should declare it and pay a certain percentage but that has not been happening. That is why people are complaining. The problem is that the civil servants, all employees in the formal sector are the ones taxed by the government but those who are in the informal sector, and those who have properties, who are millionaires are actually evading the tax that they were supposed to pay. So that’s one source. Another source is digitalisation we have been doing over the years, we should have addressed the issues that relate to digitalisation. We have actually tried to digitalise the collection process, but there are room for improvement. In the collection process, checks and balances should also be improved. For instance, if one is to pay a certain amount of money through an online

format or to the federal revenue authorities, in many cases you will find when you want to pay the tax the website so many cases will not work, but if you walk physically there to the Internal Revenue Department, somehow you will see that it will work. So, in my view, there has to be some form of monitoring mechanism that at least someone should be checking to see that all these are things working so that investors and those who are willing to pay the tax online should have easy access. If you go to the ports, the port authority in this century why do we have to go on physical inspection with all the technology that we have, but in actual sense when you go there, how many scanners are working in our courts? And that gives room for evasion because whatever you bring, I don’t think the Customs are strong enough to go through every container and check all this in so the efficiency of even the collection to be improved. But one thing also I think there has to be some kind of synergy even among the collection or the collection agencies, you know, over the years customs built a lot of experience in the collection of taxes. And if you ask the customs, they will tell you that Nigerians generally do not declare the actual content of whatever they bring into the country. So, we have to find the reason why these things are being done that way so that at least we have confidence that let Nigerians declare whatever they bring and pay the actual duty that should be paid. I also raised the issue of all these waivers that we have been given. I think the waivers are really becoming another source of leakage to our tax collection system. Once those kinds of waiver issues are addressed, I think the government will mobilise much more than what they are realising now. So, I have highlighted about three or four areas where the government can look into it and I believe if they follow that, they will really improve our tax collection. On enhanced tax collection such as property tax, there may be pushback from citizens who are responsible for building their own roads and providing their own power. Also, who would collect property tax, state or the federal government? Starting with the issues raised about, building their own roads, providing their water, electricity and so many other things. Well, you’re absolutely correct that those are issues that the government needs to be providing in terms of infrastructure to the citizens. But then when you also consider that the government is making efforts and what we need as a government is to build confidence. Remember when Fashola was governor of Lagos State, people were able to build confidence in terms with the citizens. People had seen, work being done with whatever was being collected. I remember at that time, people came voluntarily to pay, their taxes. So that is what we need, that kind of leadership is what we need in the country. So, once you build that confidence, and the government start giving infrastructure people will volunteer to come and pay. So, both sides have an obligation to, to make the citizens have the obligation to pay the tax and the government has also an obligation to show you the dividend of what people are paying that if they’re able to provide roads and I think we’re beginning to see that aspect of improvement in the governance, arrangement of taxes and in terms of utilisation of the tax. Not only that, even the amount that we borrow, if you travel on some roads there are some areas where you will see some signboards, a good road is you know constructed with Sukuh. We need more we need more of those kinds of improvement. Well as government you don’t really need to put to say that this is what we use the money for. But, it’s part of the transparency that we really need. In other countries what you see is action. Secondly, relating to his on the issue of inter-governmental arrangement as to whether this area relates to the state or the federal government. The issue of tax collection is the totality that we are talking about when only restriction to the federal government or to the state. It is the total both the state and the federal government

need improvement in their tax collection system. So, when you improve even as a state, if you improve your methodology, the way of collecting taxes and utilisation of those taxes, it will give you enough resources and make you not to borrow. So, you have resources your expenditure will increase and your ability to provide infrastructure and other services to the citizens will improve. In the opening session of the meetings, the King’s speech talked about climate financing, and debt forgiveness which is beginning to build momentum across the divide, especially to the global south. He reminded the world of how Africa contributes just less than 3 per cent of the global emission, but is suffering most of the disaster coming from climate change. Can you give us a sense of how much of this conversation is catching up with the West and what kind of action countries like Nigeria expect from the global south? So, when you’re talking about climate issues, I think we are far behind the rest of the world in terms of understanding what is going on, relating to climate change, especially the opportunities that abound. Starting from the carbon points that countries can access, there are opportunities that have been provided under the United Nations and the global arrangement, that any country that shows an improvement, or at least any country that shows its commitment to improving carbon emission has the opportunity to acquire some points and those points can be used to, get some additional resources and also, pay for some of the debt. I can’t remember any African country that really took advantage of that, and benefited from this initiative. We have been doing things that actually should improve our carbon policy, many states have policies, and the federal government itself has policies where they plant trees, and these are all aimed at improving you know, carbon emission, but we have never taken advantage to document this and, approach the international community with these facts to also earn carbon points. So, as a continent, we really need to build capacity in this area so that our ministers of finance ministers, ministers of agriculture and other ministers of environment can really work together in synergy and take advantage of that. But then, the second issue which I think we need to also understand is, the topology or the of what the carbon or the climate change is on its own. Because when you consider what climate change is, as a Western country, it is different from what climate change is, as a developing country. So, we really need to understand each other, for instance, you know, when they talk about, moving or transiting from this form of electricity to another form as a climate initiative to improve their own context, while in our own we don’t even have the power to transit from to that position. So, if you talk to an African or in Nigeria, as to transition from power away from one form of energy to energy, it has a different connotation. So, I think we have to understand and the global community needs to understand in what context are we talking about in the climate change. So, for us, I think we need to understand what are our own priorities in our climate issue, and address that that context first, or let the international community understand our own definition of climate change, so that we can have at least a group global movement, but not one side and looking at it from a different perspective and another. We have seen moves from the CBN towards unifying exchange rates. Recently, it removed the FX restriction on the 43 items but the challenge of liquidity in the FX market is still there, the gap between the official and parallel market rates are still widening. What are the rooms of improvements to complement these measures from the CBN? I think the move that the CBN made is that is the right move in my view. The reason is that if we take the 43 items that have been protected you ask yourself if it is really working effectively. Have you seen it working? If you have some fundamental issues, and you don’t address them, the fundamental weakness will still be there regardless of whatever measure you take, you will only be seeing cosmetic reforms, but the issue is there, the fundamental issue is still there. NOTE: The story continue online on www.thisdaylive.com

T H I S D AY • Wednesday, October 18, 2023

BUSINESSWORLD

STATUS REPORT

Nestle: Significant Increase in Trade, Other Receivables Reduces Revenue

Kayode Tokede

estle Nigeria recorded highest trade and other receivables in over five years and its impact reflected in its revenue growth in financial year ended December 31, 2022 result and accounts. The multinational Fast-moving Consumer Goods (FMCG) company in 2022 reported N82.24billion trade and other receivables as against N43.3billion reported in 2021. Major contributing factor to trade and other receivables was N55.54billion advance payment to suppliers in 2022 from N19.92billion in 2021. The company closed the year under review at N446.82billion, representing an increase of 27icnrease from N351.82billion reported in 2021 financial year. Nigeria remains revenue drive for Nestle Nigeria, followed by Ghana. In 2022, revenue from Nigeria increased to N443.41billion from N346.54billion in 2021, while revenue from Ghana dropped to N2.74billion in 2022 from N2.75billion in 2021. The cost of sales lines are input expenses, which rose ahead of sales revenue at 32.3per cent to N291.05billion in 2022 from N219.99 billion in 2021. The company closed 2022 with N155.76billion gross earnings, an increase of 18.15 per cent from N131.84billion reported in 2021. Nestlé Nigeria’s management is showing a lot of caution on the side of operating expenses in order to avoid a repeat of 2021 pattern where virtually all the gains in revenue were consumed by cost increases. The company’s administrative expenses and Marketing and distribution expenses were under full management’s control. In 2022, the company reported N68.87billion total operating expenses, an increase of 15.6 per cent from N59.59billion reported in 2021. The administrative cost was at N11.54billion in 2022 from N11.49 billion in the 2021, while marketing and distribution expenses increased to N57.33billion in 2022 from N48.1billion in 2021. It reported N20.53billion finance cost in 2022 from N12.08billion reported in 2021. Finance income closed 2022 at N1.99billion in 2022 from N646.55million in 2021 The big news for Nestle Nigeria in 2022 was a significant in finance cost, driven by N12.68billion interest expense on financial liabilities and N7.85 billion net foreign exchange loss. The company declared N71.11billion profit before tax, an increase of 15 per cent from N61.88billion reported in 2021. With 1.4 per cent increase in tax expenses to N22.14billion, Nestle Nigeria closed 2022 with N48.96billion profit after tax in 2022 from N40.04billion in 2021. The directors recommend the payment of a final dividend of N 36.50kobo (2021: N25.50 kobo) per share having earlier declared an interim dividend of N25.00 (2021: N25:00) from the profit of 2022 on

the issued share capital of 792,656,252 (2021:792,656,252) ordinary shares of 50kobo each. The proposed final dividend of N 36.50kobo is from the after tax profit for the year ended 2022. If the proposed final dividend of N 36.50kobo is approved by the shareholders, it will be subject to deduction of withholding tax at the applicable rate and the total dividend paid for the year will be N61.50kobo. Growth in revenue reflects on assets As Nestle Nigeria was able to drive its revenue performance, its balance sheet position emerged stronger, closing 2022 at N415.04billion, representing an increase of 34 per cent from N310.24billion reported in the full year ended 2021. As total non-current assets rose by 17 per cent to N124.53billion 2022 from N106.3billion reported in 2021, as total current assets hits N290.5billion in 2022 from N203.9billion reported in 2021. In addition, total equity of Nestle Nigeria rose significantly by 42 per cent to N30.29billion in 2022 from N21.38billion in 2021. On liabilities, it increased by 23 per cent to N384.75billion in 2022 from N288.86billion in 2021 financial year. Conclusion The Managing Director and CEO of Nestlé Nigeria, Mr. Wassim Elhusseini, in a statement said, “I congratulate and thank everyone, especially our staff and managers whose unwavering commitment, dedication and ingenuity drove the excellent results achieved in 2022. “I am extremely proud of the team’s ability to continue to achieve so much even under the current challenging business environment, enabling us keep our commitment to deliver value for our shareholders, our consumers and the communities in which we operate. This is proof that success is built into the DNA of our organization and that working together, we can thrive and even excel in the most trying environments.” “In 2023, we will continue to work to ensure the availability of affordable nutrition for the individuals and families who depend on us to nourish their families daily. We know that it will be a challenging year, with the general elections and the associated charged political environment as well as the disruptions in economic activities experienced with the change of some denominations of the Naira. “We are also faced with the increasing cost of doing business – especially the high cost of inputs, and therefore, remain flexible and resilient in our operations”. “Our priority will remain the wellbeing of our people, our consumers, our communities and our planet as we unlock the power of food to enhance quality of life for everyone today and for generations to come”.

WEDNESDAY, OCTOBER 18, 2023 • T H I S D AY

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 16Oct-2023, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS 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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund 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 11.70% AIICO Balanced Fund 4.62 4.71 35.95% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.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 28.92 29.79 31.77% ARM Discovery Balanced Fund 636.86 656.07 22.18% ARM Ethical Fund 51.55 53.10 14.27% ARM Eurobond Fund ($) 1.16 1.16 3.18% ARM Fixed Income Fund 1.14 1.14 3.28% ARM Money Market Fund 1.00 1.00 8.83% ARM Short Term Bond Fund 1.05 1.05 1.45% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 96.33 96.33 6.21% AVA GAM Fixed Income Naira Fund 1,135.25 1,135.25 5.94% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.03 1.03 6.52% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 23.87 24.35 38.47% Women's Investment Fund 187.45 190.30 34.70% CHD Nigeria Bond Fund 100.35 100.35 12.43% CHD Nigeria Dollar Income Fund 1.02 1.02 11.12% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.27% Cordros Milestone Fund 156.32 157.30 21.94% Cordros Fixed Income Fund 109.15 109.15 9.96% Cordros Halal Fixed Income Fund 110.20 110.20 11.63% Cordros Dollar Fund ($) 113.86 113.86 7.16% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 9.77% Coronation Money Market Fund 1.44 1.45 26.39% Coronation Balanced Fund 1.40 1.40 2.74% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 12.96% Emerging Africa Bond Fund 1.09 1.09 10.25% Emerging Africa Balanced Diversity Fund 1.25 1.25 28.29% Emerging Africa Eurobond Fund 106.07 106.07 5.63% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.88% Legacy Debt Fund 3.55 3.55 -0.73% Legacy Equity Fund 2.56 2.61 27.91% Legacy USD Bond Fund 1.31 1.31 4.22% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 5,284.72 5,323.55 32.32% Coral Income Fund 3,934.15 3,934.15 7.55% Coral Money Market Fund 100.00 100.00 10.52% FSDH Dollar Fund 1.18 1.18 0.00%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.81 1.85 13.79% Lotus Halal Fixed Income Fund 1,186.49 1,186.49 8.42% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.27 102.27 11.83% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.44% Norrenberger Dollar Fund (NDF) ($) 102.27 102.27 11.67% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.05 2.09 3018.00% PACAM Fixed Income Fund 11.88 12.19 756.00% PACAM Money Market Fund 10.00 10.00 3.00% PACAM Equity Fund 1.90 1.92 3356.00% PACAM EuroBond Fund 129.13 131.92 1579.00% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 156.99 161.31 24.88% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.09 1.09 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,573.19 4,609.34 34.90% Stanbic IBTC Bond Fund 254.50 254.50 8.04% Stanbic IBTC Ethical Fund 1.89 1.91 50.79% Stanbic IBTC Guaranteed Investment Fund 346.81 346.81 10.76% Stanbic IBTC Iman Fund 360.36 364.87 54.32% Stanbic IBTC Money Market Fund 1.00 1.00 9.84% Stanbic IBTC Nigerian Equity Fund 16,760.47 16,966.40 53.52% Stanbic IBTC Dollar Fund (USD) 1.44 1.44 11.68% Stanbic IBTC Shariah Fixed Income Fund 126.56 126.56 8.25% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 123.59 123.59 16.18% Stanbic IBTC Absolute Fund 4,906.96 4,906.96 15.35% Stanbic IBTC Aggressive Fund 4,858.72 4,918.59 74.74% Stanbic IBTC Conservative Fund 5,079.80 5,104.82 33.51% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.23 1.24 34.63% United Capital Balanced Fund 1.71 1.72 32.02% United Capital Wealth for Women Fund 1.32 1.33 23.38% United Capital Sukuk Fund 1.15 1.15 11.14% United Capital Fixed Income Fund 1.92 1.92 6.59% United Capital Eurobond Fund 122.39 122.39 5.61% United Capital Global Fixed Income Fund 1.07 1.07 8.43% United Capital Money Market Fund 1.00 1.00 9.42% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 17.97 18.17 29.69% Zenith ESG Impact Fund 21.26 21.49 34.54% Zenith Income Fund 25.00 25.00 6.13% Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 6.62 6.72 64.26% Vetiva Consumer Goods Exchange Traded Fund 11.45 11.55 95.15% Vetiva Griffin 30 Exchange Traded Fund 24.10 24.30 36.09% Vetiva Money Market Fund 1.00 1.00 9.84% Vetiva Industrial Goods Exchange Traded Fund 27.49 27.69 37.38% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS

NAV Per Share

Yield / T-Rtn

123.87 55.66 101.48 9.87

8.85% 4.98% -13.57%

Bid Price

Offer Price

Yield / T-Rtn

19.97 254.10 385.00 N/A N/A

22.07 254.10 385.00 N/A N/A

39.33% 97.41% 281.76% N/A N/A

NAV Per Share

Yield / T-Rtn

108.39

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC 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

I N F R AST R U CT U R E F U N D

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.

T H I S D AY •WEDNESday OCTOBER 18, 2023

Property & environment

SON: Poor Structural Designs, Quackery, Inadequate Soil Testing, Others Responsible for Building Collapse Bennett Oghifo The Standards Oganisation of Nigeria (SON) has said that findings from their investigation of incessant building collapse in the country revealed that the recurring root causes include: Poor structural designs, quackery and unprofessionalism. Their findings also include: inadequate soil testing, poor construction practices and procedures, unapproved construction, wrong demolition process, lack of maintenance, negligence, use of substandard materials (Steel reinforcement bars) poor drainage around the collapsed buildings. These findings were presented by the immediate past Director General/Chief Executive of SON, Mallam Farouk Salim, at a press briefing ‘On Instances of Building Collapse in The Country.’ Salim said, “The unfortunate incidents of building collapse in the country, which has resulted in the loss of lives, jobs, finance, and environmental degradation amongst others.”

He said the mission of attaining a safe environment for the citizens of Nigeria through standardisation and quality assurance is unending and “the Organisation in collaboration with other sector regulators including the Council for the Regulation of Engineering in Nigeria (COREN), Nigeria Building and Road Research Institute (NBRRI), Nigerian Institute of Quantity Surveyors (NIQS), Raw Materials, Research and Development Council (RMRDC), the Ministry of Works and other developments agencies at both the state and federal levels is working tirelessly to address this menace. 6. Section 5(1) (a) of the SON ACT NO: 14 of 2015 empowers the Organisation to organise tests and do everything necessary to ensure compliance with standards designated and approved by the Council. “Some of the measures adopted by the Organisation to ensure compliance with approved standards in the Building industry are: A. Elaboration Of Over 168 Standards And Codes

Of Practice For The Building And Construction Industry: Amongst the standards and codes of practice developed by SON in the industry are: i. Nigerian Industrial Standard NIS 117: 2004 Specification for Steel Bars for The Reinforcement of Concrete ii. Nigerian Industrial Standard NIS 499: 2004 Standard for Iron and Steel iii. Nigerian Industrial Standard NIS 588: 2007 Testing Hardened Concrete - Part 1 Method for Determination of the Compressive Strength of Concrete Cores iv. Nigerian Industrial Standard NIS 585: 2007 Standard for Concrete Admixtures - Part 1 - Specification for Accelerating Admixtures, Retarding Admixtures and Water Reducing Admixtures v. Nigerian Industrial Standard NIS 156:1982 Standard Method for Testing Fresh Concrete. vi. Nigerian Industrial Standard NIS ISO 41001:2020 Facility Management System Standard. B. Conformity Assessment Programmes For Locally Manufactured And Imported Products SON enforces compliance with standards

through its twin conformity assessment programmes of MANCAP and SONCAP. i. Mandatory Conformity Assessment Programme (MANCAP) ensures that all locally manufactured products including building materials meet the requirements of the relevant Nigerian Industrial Standards.

This has been achieved through periodic factory inspections of local manufacturers, certification of products, and assignment of unique numbers to the products. ii. Standards Organisation of Nigeria Conformity Assessment Programme (SONCAP) is a pre-shipment verification of conformity to standards to

ensure that products including building materials imported into Nigeria conform to the applicable Nigerian Industrial standards or approved equivalent. C. Creation Of The National Standardization And Quality Assurance Committee For The Building And Construction Industry In Nigeria.

L-R: Managing Director of Julius Berger Nigeria Plc, Dr Lars Richter; JBN’s Regional Manager, South-south/ South-east Operations, Dr. Friedrich Wieser; and JBN’s South-south/South-east Project Coordinator, Chief Sam Ngbor in Aba during the flag off ceremony of the construction works of Aba-Port Harcourt road in Abia State… recently

Only Builders can Effectively Execute Building Production Management, Says NIOB Fadekemi Ajakaiye Only a Builder can effectively execute building production management to satisfy the social, economic and environmental requirements of human needs, the President, Nigerian Institute of Building (NIOB), Bldr. Sir Alderton Ewa has said. Sir Ewa stated this at the 32nd Lagos Builders Conference, which was held in Lekki, Lagos, recently, adding that Sustainable building production is the

prerogative of builders during building production; they utilise professional practice tools including documents prepared and signed by a registered builder. He said the theme of the event Safe and Sustainable Building Production Management in Nigeria was apt to create comfortable and healthy living spaces, reduce energy consumption, decrease environmental pollution, improve the economic viability of building projects and contribute to the overall

sustainable development of Nigeria. “Hence an event like this that will help expose participants to techniques of enhancing sustainable building production management should be applauded.” He described building production management as the organisation and management of the plants, equipment, materials and labour involved in the construction of a building, while at the same time comply-

ing with all codes, rules and contractual stipulations and also minimising the negative impact of development activities on the environment and the society The NIOB President said, “A Builder is well equipped to sustainably manage the 5 M’s of Building Production Management which are money, manpower, materials, machinery and methods. Sustainable building management is not only about reducing environmental impacts, but includes creating

healthy, comfortable, and productive spaces for occupants.” Ewa said, “The builder must bear in mind at any point in time the social, economic and environmental implications of his construction programme, project quality management plan, project health and safety plan and his production methodology.” The Lagos State chapter of NIOB, he said, has continued to blaze the trail in the Building Industry, tenaciously holding forth to all the tenets of the

Nigerian Institute of Building including: i. Promoting the Science, Technology, Management and Practice of the Building Profession in all its aspects and ramifications. ii. Establishing and maintaining a high standard of competence and conduct of those engaged or about to be engaged in the Building Profession. iii. Providing a forum for meeting and discussing matters of mutual interest to Builders.

Seek Investment Opportunities in Nigeria’s Roads, Others, Stevens Tells U.S. Institutional Investors Bennett Oghifo U.S. institutional investors have been urged to “seek inroads to invest in opportunities in the Nigerian infrastructure and other sectors.” U.S. Consul General Will Stevens, stated this at the INVEST Roadshow reception at the Consul General’s Residence, Ikoyi, Lagos, recently. The delegation of U.S. institutional investors and asset managers, he said, have representation from across the

United States. “It is impressive to note that your institutions represented today manage over $1 trillion in U.S. assets, including the retirement savings of millions of Americans, including business owners and teachers. “It is commendable that some of you have already made significant allocations towards investment in Africa. “Beyond advancing specific investment opportunities, this trip is about building enduring trade and investment relationships between the United States

of America and our Nigerian partners,” Consul General Stevens said. He encouraged the visiting investors to engage their Nigerian counterparts, “including many distinguished firms and financial institutions represented in the room today.” He said, “By moving from traditional investments in stocks and bonds to new opportunities to invest in Nigerian roads, power plants, and enterprises, Nigerian and U.S. pension funds can strengthen commercial ties

between both countries and impact the real economy in Nigeria. This new investment will spur economic growth and enhance the economic security of Nigerian and American retirees. “Of course, infrastructure is a vital pathway to achieving development across every sector, especially in Nigeria which needs to finance an estimated $3 trillion in projects over the next 30 years. Modernized infrastructure, including schools, hospitals, utilities, transportation, power, logistics, and telecom-

munications are critical to accelerating sustainable and inclusive growth. And we can only achieve this through substantial, long-term investments, which when properly structured, can offer low-risk, predictable returns. “For this reason, one of the U.S. Embassy’s top priorities is to deepen the U.S. - Nigeria bilateral economic and commercial relationship by expanding trade and investment ties between our two countries. While still in the nascent stages, I want to

recognize the important--and difficult--steps the new government has taken to strengthen the Nigerian investment ecosystem. Establishing a unified exchange rate and strengthening public finances by reducing unsustainable subsidies are all positive steps towards long-term economic growth. These policy shifts send an important signal to investors--that Nigeria is open for business and seeking partners who can create shared value and spur economic growth and job creation in Nigeria.

Lagos Deputy Gov Calls for Multi-faceted Approach to Address Environmental Challenges Uchechukwu Nnaike Lagos State Deputy Governor, Dr. Obafemi Hamzat, has called for sustained combined efforts to address the environmental challenges in the country. He stressed the need for a multi-faceted approach which includes government intervention, community participation and international corporation. Hamzat, who was the special guest of honour at the 68th annual conference of the

Historical Society of Nigeria (HSC), held in Lagos, said post-colonial industrialisation and globalisation combined to expand issues of the environment. He was represented by the Permanent Secretary, Lagos State Ministry of Tourism, Culture and Art, Mrs. Oloruntoyin Atekoja. According to him, “the environmental condition during the pre-colonial era laid the foundation for many of the

challenges that post-colonial Nigeria continues to face. These include deforestation, soil erosion, pollution, and the degradation of the ecosystem which are ongoing issues that require sustained combined efforts to address. “The colonial era was characterised by the exploitation of natural resources for their benefit. The environmental consequences were often overlooked or disregarded in favour of economic gains.

After independence, the country experienced rapid industrialisation and globalisation, and these all aggravated environmental issues.” The President of HSC, Prof. Samuel Aghalino, in his opening remarks, noted that the theme of this year’s conference, ‘The Nigerian Environment Since the Pre-colonial Period’, was chosen to brainstorm on positive solutions to the nation’s challenges, and also advocate ways to reinvent the country’s

position globally. “As a society, we are not unaware of the plethora of challenges faced by our over six decades old nation. For us as an academic body, we have chosen to saddle ourselves with the key responsibility of proffering viable solutions to our nation’s hydra-headed challenges. It is trite to observe here that all functioning nations are knowledge-driven. This explains our resolve to interrogate emerging but chal-

lenging issues woven around the Nigerian environment.” Presenting the Kenneth Dike Memorial Lecture, the guest lecturer, and a Professor of History and Economics at the University of Port Harcourt, Ben Naanen, said there has to be clear decisive action by the government to address the issues of environment, especially as it relates to flooding, pollution of the ecosystem in Niger Delta majorly, and other parts of the country.

T H I S D AY • WEDNESday OCTOBER 18, 2023

Education Asaolu: Why Nigeria Needs More Universities

Prof. Taiwo Asaolu is the Vice-Chancellor of Ilesha University, Osun State. In this interview with Funmi Ogundare, the Professor of Accounting explained the different processes taken to ensure the successful upgrade and take-off of the university from a College of Education and why more universities must be established in the country considering the number of applicants seeking admission, among other issues.

hat teething problems did you encounter as a new university when the institution was upgraded from a college of education to a university? We were appointed on April 14, 2023, and the principal officers resumed office almost immediately. It used to be a college of education under the oversight of the National Commission for Colleges of Education (NCCE), the government agency that oversees colleges of education. So when we got upgraded to a university, we physically came to campus on the 15th. When we came in, we met the university in a deplorable state with a dilapidated structure, a dirty environment, and staff members who were disillusioned and disoriented. There was no motivation because they assumed that the college of education was winding up and the university was not going to take off. Everything was on a downturn. Almost all the vehicles that we met on campus were grounded. The only functional ones were the ones being used by the erstwhile principal officers of the university. In terms of security manpower, they had reduced to 20 and there were no patrol vehicles. To really secure the university, you need about 100 personnel. However, to the glory of God, his excellency, Governor Ademola Adeleke, lived up to his promises and appointed principal officers. When we came on board, we organised a training programme to reorientate members of staff that it is no longer a college of education but a university. We have had three such programmes and I am happy to report that the staff are yielding to training. Did the training also include nonteaching staff? The training we had was for members of management, deans, heads of departments (HODs), and directors of directorates, which cut across both teaching and non-teaching staff, but in the upper echelon of management. The one we just concluded recently is purely for academic staff, while another one has been scheduled for non-teaching staff. We

identification cards bear the University of Ilesha Institute of Education, NCE programme and will last until the last of them is graduated in three years.

Asaolu have also had training on the use of computer software programmes. How would you describe their morale since the training? In terms of output on their jobs, they are improving, but then, we cannot stop the training. It has to be a continuous exercise. It is instructive to note that Governor Adeleke has been the sole financier of the institution. He approved the takeoff grant and running cost for the university, as well as the National Universities Commission (NUC) resource verification exercise. Have you started admitting new students now, and what happens to the former students of the college of education? We are just in the process of admitting students. We have NCE students that we met on the ground. We created the Institute of Education and appointed a director. So anything that has to do with NCE examinations, graduation and transcript would be handled by the institute. So their

What is your view about the government’s establishment of new universities without adequately funding the existing ones? I am not of the opinion that they are not being well funded. In the first instance, did you take into consideration the population of this country, the number of candidates seeking admission and the number of admission space available? You will see that we still need more universities. In my own opinion, I think individuals should do more in establishing private universities. When you have state or federal governments establishing universities, they will be centres of excellence known for a particular cutting-edge discipline. In OAU, Ife, for instance, it is known for computing and Computer Science, Pharmacy, among others. These are centres of excellence. The government can concentrate on such research institutes, while the issue of establishing universities should be left in the hands of private individuals. If you ask me, we need more universities taking into consideration the number of applicants and those admitted. You commenced academic activities in September. How many programmes have been accredited by the NUC, and how many students are you expecting JAMB to send to you? Students are first expected to change their institution because before now, the University of Ilesha did not appear on the JAMB portal and no student would have selected the university. But immediately, NUC gave us approval to commence running of programmes. The University of Ilesha appeared on the JAMB portal and the courses available appeared. Therefore, students can change their choice to the University of Ilesha and at the same time, pick courses. We were given approval in September. The university presented 32 programmes which have been given approval to commence. We

were given Law, Medical Laboratory Science, Accounting, Nursing, Political Science, Public Health, Agric Science Education, Computer Science, and Cyber Security, among others. As it were, we are trying to put together our website and not make it susceptible to hackers. Already, we have 400 candidates who have already signified their intention to cross to the university. This is so because we have yet to advertise, nor are we on social media, to solicit for students. We want to get our act right. As we speak, 33 candidates have changed to read Law here, 142 have changed to Nursing, 16 to study History and International Studies, and 43 to read Medical Laboratory, among others. However, the Law programme cannot commence immediately because we have to go for the second round of resource verification by the Council of Legal Education. Also, the Council for Nursing and Midwifery in Nigeria will have to come and see what we are doing. The same thing also goes for Medical Laboratory Science. The council will have to come and verify if we have the capacity to do all these. Your management has decided to make the institution an entrepreneurial-oriented university. Why the decision? Entrepreneurship cuts across every sphere of life; agriculture and agric-business are part of it. It goes beyond taking students to studios or just learning different skills. We are talking about entrepreneurship mindset and changing the orientation of Nigerian students and graduates. For instance, you can bring together students studying Computer, Accounting, and Political Science and ask them to develop a business idea. That will be far better than taking someone to a cobbler or tailor’s shop to sew clothes or mend shoes. It is about the mindset and the students knowing how to prepare business proposals that can attract funds. That is what the University of Ilesha plans to do. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Starfield College at 25: Management, Staff, Parents Count Blessings Uchechukwu Nnaike

The mood at the recent 25th anniversary celebration of Starfield College, Fagba, was that of gratitude and commendation. While the management was thankful to God for preserving the school and for all the achievements, parents others past and present students eulogised the school for raising responsible youths who are succeeding in their respective careers. According to the Director of Studies, Mr. Chris Eigbe, the vision from inception has always been to be the best, adding that the school was built on the foundation of hard work, integrity, pursuit of excellence, love of reading, friendliness and selfless service to the community.

So far, he said the journey has not always been a straight-line journey, as there have been moments of stress and anxiety, doubt, frustration, but “the spirit of God has always been guiding us at such moments of challenges.” He was also thankful for the lives of the directors, staff past and present, past and present students and their parents. Eigbe added: “His hand of blessings fell on the school right from inception, when there was need to get funds to build the school, God has provided divine helper for us, when we have to get registration from both dtate and WAEC, our detractors did their best to frustrate us, but God created favour

for us and ensured that our project did not die. That project is what we are here today to celebrate.” The Principal, Mrs. Sara Oyinloye said over the years, the college has been equipping youths with the requisite knowledge and skills to contribute towards the development of the country. She thanked parents and teachers for their support and dedication to their duties which contributed to the students’ exceptional performance in internal and external examinations, and in their respective higher institutions at home and abroad. A parent, Mrs. Olusola Titcombe said three of her children who passed through the school have become chartered accountant, surveyor

and mechanical engineer, and are doing well in their respective professions. She said she has referred many other parents to the school because of the impact it has made in the lives of her children. Another parent, Mrs. Itoro Effiong-Bright said her child started from pre-school and is currently in senior secondary three. She commended the management of the college for the quality education, confidence and moral values instilled in the students. The ceremony also featured cultural dance performances and an exhibition of Hausa wedding, Yoruba Oriki, and Igbo chieftaincy ceremony, Eyo masquerade, traditional cuisines and a lecture by Professor Tunji Shotimirin titled ‘Preserving Our Cultural Heritage’.

YWCA Calls for Girls’ Inclusion at Decision-making Processes The Young Women Christian Association (YWCA), Lagos, recently marked this year’s International Day of the Girl Child by calling for collective efforts to create opportunities for girls and young women at forums where issues affecting their daily lives are deliberated and concluded on. For the past six years, the YWCA Lagos, in partnership with the YWCA Church of Pentecost, Festac Town has been marking the day by organising a capacity building and empowerment programme for girls living and studying in the

Festac Community. The theme of this year’s programme was ‘Invest in Girls’ Rights: Our Leadership and Wellbeing’. This year, the YWCA Lagos also raised collective voices against the menace of sexual and drug abuse, which is threatning the survival and active participation of future leaders. The Chairman of YWCA Lagos, Ms. Kemi Oludipe, who was represented

by Dr. Olatokunbo Oseni, an exexutive of the YWCA Lagos, stressed the importance of having women present at tables where issues that affect their daily lives are decided. A paper on leadership and well- being was delivered by Mrs. Itunu Adejuwon; a paper on sexual abuse was delivered by Dr. Ekanem Nesiama; a pharmacist, Shade Lawal delivered the lecture on drug abuse; while Mrs. Uloma Arukwe handled guidance and councelling. Dignitaries present at the event included a

representative of the chairman of Amuwo Odofin Local Government Council Area and the vicar of the Church of Pentecost, Festac Town. The participating schools were JOMAL Secondary School, Festac; Assemblies of God College, Festac; Adetiloye Anglican College, Festac; Pentecost College, Iyana Iba; KABE College, Festac; and Queensland College, Okota. The students thanked the organisers for making a huge impact in their lives through the programme.

T H I S D AY • WEDNESday OCTOBER 18, 2023

education

UI Senate Approves CSACEFA Advocates for Girls’ Empowerment PhD, Other Postgraduate in STEM Technology Programmes in Social Ugo Aliogo Universal Basic Education tion to spark their interest in further widens the gender studying STEM and taking gaps and hampers a country’s Board (LASUBEB) Work The Lagos State Coordinator, “Today, we unite to address up possible future careers economic development and CSACEFA, Stella Francis, has these challenges, to amplify the in engineering and related global advancement because it Kemi Olaitan in Ibadan

The Senate of the University of Ibadan has approved the introduction of a PhD in Social Work in the institution. It also approved all postgraduate programmes in Social Work in the institution. The National Secretary of the Association of Social Work Educators of Nigeria (ASWEN) and a professor of Social Work, James Ayangunna, who announced this in Ibadan, said the PhD and MPhil programmes may be advertised any moment based on the discretion of the university through the Postgraduate College. He then lauded the university Senate led by the Vice-Chancellor, Prof. Kayode Adebowale, for the approval of the courses. He said, “The University of Ibadan Senate has approved all postgraduate programmes as presented. These are PhD (Social Work), MPhil, MSW (Academic), and MSW (Professional, already existing but reviewed). Postgraduate Diploma in Social Work (PGDSW) is also an existing programme. “The good news for our col-

leagues and others is that the PhD and MPhil programmes may be advertised at any moment. Those who may (desire higher degrees and ) meet the requirements for admission may (apply). We wish all of us well as members of the Association of Social Work Educators of Nigeria (ASWEN). “We also have our BSW running( at the distance learning mode and soon to come on main line soon). We thank the University of Ibadan Senate through the Vice Chancellor for this great achievement. Always first and the best. “I feel that social work is making some positive progress. Everyone has been so positive about it. Therefore, we need to promote our profession collectively. Some of us are retiring very soon and we need committed ones as you to come on board. I can’t wait to train PhD candidates!!! It’s long overdue,” stated Ayangunna. “UI started the MSW in the whole of sub-Sahara in 1990 with the support from the University of Pennsylvania, Philadelphia. So far, we are maintaining MSW even at academic masters level.”

Experts Task Stakeholders on More Investment in Digital Literacy Experts in digital literacy have called on education stakeholders to make more investments to facilitate the inclusion of digital literacy in school curricula. This was the takeout at the just concluded September edition of Edtech Mondays, organised by the Co-Creation Hub (CCHUB) in partnership with the Mastercard Foundation’s Centre for Innovative Teaching and Learning in ICT. The panel session themed ‘Accelerating Digital Literacy for the Benefit of Education System in Nigeria’, moderated by the Practice Lead, Education CCHUB, Chinyelu Akpa, which featured other edtech experts, discussed the enormous benefits of prioritising digital literacy in Nigeria. According to the 2021 World Bank development reports, more than 50 per cent of Nigeria’s population needs digital skills and cannot use data services. With this revelation, stakeholders noted that digital literacy must be prioritised in Nigeria, given that it is vital to the future of work, enhances quality education, and fosters socio-economic prosperity. One of the panellists, Azeez Ojoro, a teacher at State High School, Oyewole, Agege, Lagos, stated that acquiring digital skills has become inevitable to function effectively in an increasingly digital world. According to him, digital skills are critical for the benefit of education systems and the socio-economic progress and advancement of the country. While calling on the government and other stakeholders to

work together to address issues of access to digital devices, data subsidy, and remuneration, Ojoro maintained that adopting digital literacy skills has become compulsory for both learners and teachers. Another panellist, Ademuyegun Olowojoba, founder, of Nerdz Factory, said that the organisation’s goal is to empower Africans with digital skills that would help them become professionals or prepare them for the future of work. Olowojoba added that there was no doubt that digital literacy significantly improved learning outcomes in Nigeria, given the level of access to information or resources available now. Citing the example of AI and how it has changed every facet of life, he noted that such digital resources would bring about innovations that would undoubtedly become life-changing for the economy. In his remarks, the Director of Research and Development, National Information Technology Development Agency (NITDA), Dr. Agu Collins, stated that the agency has been promoting digital literacy in Nigeria through various initiatives or interventions. These interventions, he said, are meant to bridge the challenges of increasing the cost of digital devices, internet access, and electricity. Collins noted that the agency is committed to achieving a target of 95 per cent digital literacy by 2030, stating that efforts are in the pipeline to train more people, especially the youth.

called for the increased empowerment of girls in Science Technology Engineering and Mathematics (STEM), adding they are the future leaders, innovators, and changemakers in the world, yet they face discrimination, inequality and barriers that hinder their full potential. She stated this recently in Lagos at an event to mark the International Day of the Girl Child organised by the Civil Society Action Coalition on Education for All (CSACEFA), in partnership with Lagos State

voices of girls and to advocate for a world where they can thrive and flourish without limitation. As we gather here, let us remember that investing in the education, health, and well-being of girls is not just a moral imperative, but also a smart investment in the future.” In her remarks, the State Public Relations Officer, CSACEFA, Margaret Nkire, noted that the event for the girls child was an opportunity to get the attention of the girl child in schools with the inten-

field and for the government to Improve efforts in gender mainstreaming of science and technology. She added: “Today young girls in Lagos and Nigeria are breaking barriers and this is a new era for more investment in girls’ technological empowerment which will break the gender bias. The UN SDGs goal 4 targets inclusive and equitable quality education and promotion of lifelong learning opportunities for all when you limit girls’ opportunity to advance technologically it

is not a girls’ or women only issue but a societal problem.” The founder and Executive Director, Women’s Technology Empowerment Centre (W.TEC), Oreoluwa Lesi, said the Nigeria Bureau of Statistics (NBS) report has revealed that for engineering and technology courses, women make up 22 per cent of the graduates, while men make up 78 per cent. Lesi, said in terms of the workplace, statistics show that women make up about 20 per cent on the technology workplace.

L-R: Wife of the former Head of National Office, West African Examinations Council, Mrs. Patience Areghan, her husband, Patrick and members of the Education Writers Association of Nigeria during Areghan’s retirement, end of tenure and birthday thanksgiving celebration, in Lagos... recently

Cleric Urges Support for Government on Education Development Gbenga Sodeinde in Ado Ekiti

The planter of CAC Adamimogo Grace of Mercy Prayer Mountain Worldwide, Prophet Sam Olu Alo has called on Nigerians to collaborate with government to develop education in the country. He also attributed the challenges facing the country to lack of fear of God, love and vote buying during elections. The cleric spoke while donating state-of-the-art blocks of classrooms to Temidire Community High School, Temidire

Ekiti and St. Benedict’s Catholic Nur/Pry School, Ido Ekiti. According to him, the motivation to donate the facilities was out of the resolve to impact lives, his experience abroad and covenant with God to be a blessing to people. The cleric who noted that he had his primary education at the Catholic school and that his father attended the founding church while alive said, “in all the developed countries I have been to, 70 per cent of the schools there up to university level are owned by churches

before they were taken over by government. And I observed that the facilities there make studying and learning attractive to the children. That is why I built and donated the state-ofthe-art block of classrooms to the schools. “Government alone cannot do everything for us. Whether good or bad, there are government responsibilities and citizens have theirs too.I am happy when I heard that there is free education for children in my state from primary one to SS2, this will help parents to send their children

to school. So government are doing their bit but old students too home and abroad blessed by God can also support their alma mater. The prophet also donated a big hall christened Family Hall to his community, Ido Ekiti in memory of his father, Pa Joseph Omowaye Alo, promised to establish a care home for widows and less privileged persons in his hometown. He said the widows would enjoy therapy, medical checkups, free food and other forms of care where necessary.

10 Finalists Emerge for 2023 Maltina Teacher of the Year Competition The top 10 finalists for the 2023 edition of the Maltina Teacher of the Year competition, organised by the Nigerian Breweries’ Felix Ohiwerei Education Trust Fund have emerged. The ten teachers were scored highest out of the 172 teachers that made it to the second phase grading by the panel of judges, following the first phase grading of 1,203 teachers that were successful out of the 1,499 entries received for the competition. The finalists are: Gilamdo Yohanna Kwem of Government Girls’ Secondary School, Adamawa; Azuh Chike Emmanuel of Ezemu Girls Grammar School, Delta; Melvina Kelechi Igboa-

nugo from Roseville Secondary School, Enugu; Ajibola Temidayo Oluwagbenga from Premiere Academy, Abuja; and Daniel Ochonu, from Dutse Model International Secondary School, Jigawa. Others are Sussan Uchegbu, from Bristow International Academy, Kano; Abubakar Sani Adam from Barewa College, Zaria, Kaduna; Adeola Adedunke Adefemi, from Keke Senior High School, Lagos; Adam Abdulqadir Nda of Model Science College, Niger State; and Nwagbo Nnaemeka Christopher, from The Ambassadors College, Ogun State. To determine the winner and

runners-up, the 10 finalists will undergo a formal interview and assessment with the panel of judges, expounding on their entries to complete the rigorous selection process for the 2023 Maltina Teacher of the Year. Speaking on the emergence of the finalists, the Corporate Affairs Director, Nigerian Breweries Plc, Mrs. Sade Morgan, commended members of the panel of judges for their service and dedication to the initiative, wishing all the contestants the best of luck in the final screening phase. She also appreciated the vital role played by longstanding partners, Federal Ministry of Education, Lagos State Government,

Teachers Registration Council of Nigeria(TRCN), Nigeria Union of Teachers, as well as the 2023 co-sponsors, Air Peace and Stanbic IBTC. The 2023 edition of the competition recorded 1,203 valid entries following the call for entries on May 25, while submission of entries closed on August 4, 2023. The winner of the 2023 Maltina Teacher of the Year competition and the state champions would be announced by the special guest of honour, the Minister of State for Education, Dr. Yusuf Sununu, celebrated and rewarded at the grand finale on October 20, 2023, in Lagos.

WEDNESday, October 18, 2023 T H I S D AY

business/MOnEYGUIDE

FGTasked on Policies to Sustain 23.8m Family Businesses in Nigeria Omolabake Fasogbon The federal government has been advised to intensify support for family businesses in Nigeria to ensure their growth and sustainability. This is as experts expressed worries about poor statistics of incomers in family business in the next generation, which is not more than 38 per cent, compare to present 23.8 million operators in the country. They argued that this reality might spell doom for future economy considering the huge impact of family investments on public purse, contributing over 50 per cent to the nation’s Gross Domestic Product (GDP). Speaking at a Family Business summit, themed, “Built to Last: Building a Multi-Generational Business in an Age of Volatility,” Special Adviser to President Bola Tinubu on Presidential Enabling Business Environment Council (PEBEC), Dr. Jumoke Oduwole disclosed that family businesses have created millions of jobs

and fetched about $200 billion to national economy annually. But Country Senior Partner at PwC Nigeria, Sam Abu explained that in spite of the prospects of family business to nation and individuals, sustaining it had been quite challenging. He said, “About 38 per cent of the next generation is involved in the family business, with 28 per cent of them on the management board. Sadly still, Only 25 percent of family businesses have a succession plan.” He further identified factors as lack of trust with customers, employees, stakeholders and family members as threatening family business sustainability. On his part, Convener, My Family My Business, Oghenevwoke Ighure stressed the need for family businesses to outlive their founders, submitting that government has a role to play to realise this. “70 percent of biggest companies in the world are family business, and they provide

60 percent of employment around the world. This is to say that any serious government must be supportive of the business. Government policies, including taxation must be as friendly as possible. This is why we have put this summit together to educate players, and more importantly engage the government. We want to take the conversation to policy level so government can connect appropriately.” For Group Executive, Private Banking and Wealth Management at FirstBank, Idowu Thompson, more than government’s support, individual owners must sit tight to have a breakthrough. “Owners of family business must plan properly, get right advice, be flexible in approach to creating and preserving asset as well as diversify their investment portfolios by not putting their eggs in one basket. This will ensure that they are able to scale when harvest conditions come, “he advised.

NIMN Partners LBS to Drive Research on Data, Diaspora Investment Raheem Akingbolu and Ugo Aliogo

The National Institute of Marketing of Nigeria (NIMN), has entered into a partnership with the Lagos Business School (LBS) to drive research on data, diaspora investment and capacity building that will enhance businesses and economic growth. Announcing the partnership yesterday in Lagos, the President of the National Institute of Marketing of Nigeria (NIMN), Idorenyen Enang, said the marketing industry contributes largely to the Gross Domestic Product (GDP) of the country, adding that the entire estate that

marketing as a profession is sitting on is huge. He said the partnership with LBS is strategic, as it will enhance the entire business ecosystem and the economy at large. “We are setting up what you would call NIMN diaspora and we are already putting a framework together. It’s about how our members and also marketers of Nigerian origin and African origin who are in diaspora, will be able to find a way to impact those back home,” he said. The Chief Marketing Officer at LBS/Pan Atlantic University (PAU), Nsima Ogedi-Alakwe, said this partnership would transform marketing profession

in Nigeria, drive professionalism and ethical ways of doing business in the areas of research and capacity building, which will drive the growth that is desperately needed in the nation’s economy. According to her, those who have left the country are gaining knowledge and transferring it to Nigeria, which she said is also drawing foreign partnership and investment into the country in the area of trade, collaboration, skills development and education. On his part, Professor of Marketing at Lagos Business School (LBS), Uchenna Uzo, said the field of marketing is really at a stage in Nigeria and Africa where it is about to explode in a positive direction.

Firm Reaffirms Commitment to Improving Customer Service Delivery

Gilbert Ekugbe

One of the leading brands in the real estate industry, MKH Properties Limited, has restated commitment towards improving staff welfare, noting that improving staff welfare development is vital for improved service delivery, productivity and profitability. The Chief Executive Officer, MKH Properties Limited, Dr. Muibi Kehinde, during its customer service week, said the customer service week was a momentous occasion for the company to celebrate

its dedicated and hardworking staff, pointing out that the week was not just about its staff, but also recognising the dedication and hard work of its internal and external customers. “It is not just about celebrating our external customers but also recognizing the dedication and hard work of our internal customers, and our staff. They are the backbone of our success, and their commitment to excellence makes our service exceptional,” he said. The Group Executive Director, MKH Properties Limited,

Ms. Bolarinde Tayo, added that its success as a company is directly tied to the satisfaction and trust of its customers. “During this week, we reflect on our journey, celebrate our achievements, and look forward to serving our customers even better in the future,” Tayo stated. The Chief Executive Officer added that MKH Properties Limited has consistently set high standards for customer service in the real estate industry, maintaining that its dedication to both internal and external customers has been a cornerstone of their success.

Lottery Firm Unveils New Gaming Platform An innovative and dynamic lottery and gaming company, Big Chance Lotteries Management Limited, has unveiled a new online platform where Nigerians can play and win millions of naira in cash rewards every week. Speaking during the launch of the platform in Lagos on Thursday, the Managing Director of Big Chance Lotteries Management Limited, Opeyemi Oguntimehin, said that the firm’s goal is to impact the lives of Nigerians positively by ensuring

that fairness and transparency are maintained at all times. He said, “Apart from lifting Nigerians from the morass of poverty with its range of exciting games playable with as little as..., the lottery will also help combat unemployment. “At a time when many Nigerians are looking for genuine opportunities to improve their financial well-being, we firmly believe that Big Chance Lotto will resonate with millions of Nigerians. The game comes from a trusted brand duly licenced by

the Nigeria Lottery Regulatory Commission. Built on a solid value system of reliability, innovation, empowerment, social responsibility, integrity and fun, Big Chance Lotto is an immense and entertaining game, win and cash out game, never seen in Nigeria. “Our lottery is online and real-time, meaning you can play and cash out instantly, which makes the platform robust and friendly, with the highest security standards against fraud and hackers.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

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

T H I S D AY • WEDNESday, October 18, 2023

mARKET NEWS

Stock Market Recover, Gains N159bn in Market Cap

KayodeTokede

Recovering from the previous session’s loss, the stock market of the Nigeran Exchange Limited (NGX) yesterday posted gains as the overall capitalisation rose by N159 billion. The All Share Index (ASI) rose by 288.19basis points or 0.43 per cent to close at 67,326.12 basis points. Accordingly, market capitalisation gained by N159

billion to close at N36.989 trillion. Consequently, the stock market Month-to-Date and Year-to-Date returns increased to 1.4per cent and 31.4per cent, respectively. As measured by market breadth, market sentiment was positive, as 27 stocks gained relative to 22 losers. Julius Berger recorded the highest price gain of 10 per cent to close at N36.30, per share. Computer Warehouse Group (CWG) followed with a

P R I C E S MaiN Board

F O R DEALS

gain of 9.83 per cent to close at N9.50, while Champion Breweries rose by 9.76 per cent to close at N3.71, per share. Oando went up by 9.58 per cent to close at N9.15, while Thomas Wyatt Nigeria appreciated by 9.29 per cent to close at N3.06, per share. On the other hand, Multiverse Mining and Exploration led the losers’ chart by 9.49 per cent, to close at N2.67,

S E C U R I T I E S Market Price

quantity traded

per share. Unity Bank followed with a decline of 9.00 per cent to close at 91 kobo, while Ellah Lakes declined by 8.05 per cent to close at N4.00, per share. Nigerian Breweries depreciated by 7.38 per cent to close at N38.90 and eTranzact International declined by 6.67 per cent to close at N8.40, per share. The total volume traded

T R A D E D

value traded ( N )

MaiN Board

A S O F

increased by 74.9 per cent to 377.97 million units, valued at N5.17 billion, and exchanged in 6,729 deals. Transactions in the shares of eTranzact International topped the activity chart with 44.069 million shares valued at N370.152 million. United Bank for Africa (UBA) followed with 42.301 million shares worth N796.359 million, while Access Holdings traded 33.32 million shares

valued at N560.389 million. Fidelity Bank traded 31.200 million shares valued at N257.179 million, while Sterling Financial Holdings Company sold 24.676 million shares worth N84.264 million. According to analysts at InvestmentOne Research, “The local equities market closed green due to the positive sentiment observed across major sectors.

octo b er / 1 7 / 2 3 DEALS

Market Price

quantity traded

value traded ( N)

T H I S D AY • WEDNESday OCTOBER 18, 2023

CITYSTRINGS

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

A Walk against Substandard Products in Nigeria

In commemoration of the 2023 World Standard Day, themed, ‘Shared Vision for a Better World’, the Standard Organisation of Nigeria, SON, recently held a one-day fitness walk tagged, ‘Walk for Standard'. Sunday Ehigiator writes that the objective was to reiterate its unflinching stance against substandard goods and products in Nigeria

L-R: Director, Human Resources, SON, Engr. Timothy Abner; Director, Public Relations, Foluso Bolaji; Director, Laboratory Services, Richard Adewunmi; Director, Standards Development, Engr. Yahaya Bukur at the ‘Walk for Standard’ event recently held in Lagos State, in commemoration of the 2023 World Standard Day

very year, on October 14, people worldwide observe World Standards Day, also referred to as International Standards Day. The primary aim of this day is to educate consumers, policymakers, and businesses on the importance of standardization. It also serves as an opportunity to raise awareness among nations and their citizens and encourage them towards a better quality of life. World Standards Day is organized and led by the International Electrotechnical Commission (IEC), the International Organization for Standardization (ISO), and the International Telecommunication Union (ITU), which are the primary global developers of international standards.

The Theme The theme for the 2023 World Standards Day is ‘Shared Vision for a Better World: Incorporating Sustainable Development Goal for Good Health and Well-Being’. This theme reflects the focus on working collectively to achieve a better world, particularly in the context of promoting good health and well-being as outlined in the Sustainable Development Goals. Aligned with the Sustainable Development Goals (SDGs) for peace, prosperity, and the welfare of both people and the planet, each SDG presents an urgent call to action, and achieving them requires a collective effort. The SDG 3 focuses on ensuring healthy lives and promoting well-being for all; this plays a crucial role in global shared vision. Hence, with the theme, the leading developers of international standards (IEC, ISO, and ITU) thereby urge the global community to unite against substandard products capable of harming human lives in any form that negates the SDGs. Speaking about the theme, Director, Human Resources, SON, Engineer Timothy Abner, said, “The theme of this world's standard day is very clear. It's a vision, and we are here with the rest of the world for better standards. “We all agree that the world is merging towards having common activities and products. This is why we are sharing the vision to make sure that the same standard subsides wherever you are in the world. “To do that, what happened? If you look at it, you will see the world is supporting democracy, the ability for people to lay down rules for how to even choose who leads them, that is basically standards. “This is also shared in every other thing. We have heard a lot about goods moving from one country to the other, and of course we have international standards to

be able to ensure that such goods are accepted wherever they go. “In Nigeria, what we are trying to do is to key into this vision by making sure that we have standards for everything, including activities that Nigerians carry out. “We are pulling the artisans together to even have standards in their operation. Because if we do not move together with the rest of the world, we are going to face a lot of challenges because other people will key into these standards, and flood the markets with them, including our markets, thereby forcing our economy to crumble. “Standards are very essential for us as a nation, and it's our mission to ensure that we share the same standard vision with other countries.” Walk for Standard In commemoration of the day, the Standard Organisation of Nigeria (SON), held a road walk tagged, ‘Walk for Standard’ aimed at raising awareness about substandard products and the need for Nigerians to unite and demand for standard in everything they do or use. The exercise took-off at exactly 9 am from the SON Ogba Laboratory located along Surulere Industrial Street in Igba Lagos, and saw participants numbering over hundreds walk through Acme Road, Agidigbin, Awolowo Road, Allen Avenue, Isaac Jones before heading back to the Ogba Laboratory. Speaking about the walk, the Director, Standards Development, SON, Engr. Yahaya Bukar said the walk for standard was to demonstrate fitness, and send a message of unity in the fight against substandard products. “We are celebrating standards. How do we celebrate standards? The first thing to do is to walk.

Participants on a walk during the ‘Walk for Standard’ event recently held in Lagos state, in commemoration of the 2023 World Standard Day

When we walk, we send the message that we are fit to carry on with our job. Fitness and standards go the same way. The other message we are also sending is that we are united to fight substandard products. Substandard products have a lot of impact on society. “It is a negative thing, it is unproductive, and money is lost. Imagine yourself writing an exam, and in the midst of the exam, your biro stops writing. That's a substandard product that could cost you to fail your exam even though you know the answers to the questions. “So this is one of the consequences of using a substandard product, and we are united to fight substandard products, and we are carrying our stakeholders along so that they understand the advantages of standards, and when the standards are implemented, it is for the benefits of all of us. “We fight together to fight tomorrow's battle. We have a lot of standards that we have elaborated on. Based on these elaborated standards, we are going to work with our stakeholders to ensure that we eliminate these substandard products. “We are also going to sensitise the people that standards are what we need to be able to be at par with other countries in the world. What differentiates America from Nigeria is all about standards. So we have to move on to ensure that we are at par with them through standards.” Speaking further about the theme, Bukar said, “We cannot achieve anything without having a common force. It calls for global unity against the menace of substandard products, which is a problem for society. “For instance, we have climate issues and health issues, and there is no way we can fight this without unifying our forces and resources globally with a common vision. “Every day, every year, and every month, we carry out factory inspections by going from factory to factory to sensitise the people about the need to implement standards. “Those that are not compliant with our standards, we get them prosecuted

Substandard products have a lot of impact on society. It is a negative thing, it is unproductive, and money is lost... we are united to fight substandard products, and we are carrying our stakeholders along so that they understand the advantages of standards, and when the standards are implemented, it is for the benefits of all of us

because almost all the products that are manufactured in Nigeria are such that they have to comply with the requirement of the mandatory conformity assessment program. And these are the things that we do daily. “Also, our PR and marketing department is very strong in such a way that they carry out sensitisation to make people understand the need and benefits of standards.” He stressed on the need for Nigeria to value standards “in the sense that if there are no standards, we cannot exist. “In fact, the standards that we look at are the holy books, the Quran, and the Bible. These are standards from God telling us that we have a specific way that we should behave. If you don't behave in line with the requirements of those books, then you are not in conformity. If there is no standard, there is no way we can exist. Everything goes with the standard.” Speaking on SON’s efforts against substandard goods over the years, he said, “SON has made a lot of efforts in promoting standards per the years. If not, Nigerians will not be able to survive. The water they are drinking, they will not be able to drink it, or be able to wear the shirt they wear today. “A lot of things will be substandard in society, including the tires that we use on our vehicles. You will be seeing a lot of accidents happening. So SON is working and we will continue to work.” Also speaking, Director of Laboratory Services, SON, Richard Adewunmi, said, “I think when you talk about conformity assessment, there are three legs, inspection, testing, and certification. For you to achieve certification, you need to undergo testing. “Every product, after inspection, is sampled, sent to the lab, and carries out the test based on the established standard. Then there is a verdict on whether the product has conformed or not. This is very critical in decision-making when it comes to certification. Without test results, certification cannot fly.” Earlier while addressing the press, the Director, Public Relations, Standard Organisation of Nigeria, Foluso Bolaji, noted that when Nigerian products embrace standards, they will be able to export them to anywhere in the world. According to her, “The aim of this walk for standard is to tell Nigerians to embrace standards. And we are also saying to them that, 'When you see something, say something'. We all need to embrace standards because it will help our economy to be very strong.”

T H I S D AY • WEDNESDAY, OCTOBER 18, 2023

Focus

Wigwe University: Africa’s New Vanguard for Building Future Scholars is Set to Take-off Bayo Akinloye

s of June 2023, Nigeria has 264 universities (public and private), and a few more are expected to spring up in the near future. A certain ivory tower in the mould yet to be seen or experienced in the country is set to kick off. Envisioned as an inventive university, an innovative institution and a playground for ingenious minds and futuristic endeavours, the soon-to-start university offers some boundless opportunities that transcend the run-of-the-mill learning platforms that many academic institutions promote. It was conceptualised, designed and brought to life on a grand scale. It is summed up as a “fearless culture.” Resilience. Excellence. Values. A distinctive perspective, unique foundation and world-class set-up with an intellectual and entrepreneurial spirit conceptualised into a modern academic institution in the heart of Africa’s most populous nation will take off in less than 330 days. This one-of-a-kind institution is the Wigwe University envisioned to be the best. The promoter is leaving nothing to chance and sparing no expense to build the most all-rounded university comparable to any in the Western world. On June 9, 2023, the National Universities Commission approved and issued an operational licence to Wigwe University in Isiokpo, Port Harcourt, Rivers State. Its purpose-setting and sustainability goals have combined to guide the university to build a campus that evokes the heritage of Port-Harcourt as the ‘Garden City’. Wigwe University mixes Rivers’ natural endowments with sustainable design principles to create an exciting harmony between its campus and natural environment. “We embody Nigeria’s resilience, fearless culture, values, and entrepreneurial spirit. We are the African spirit of strength in numbers, teamwork, and collaboration,” Wigwe University said. “We symbolize and express the irrepressible human spirit of design thinking. We strive for sustainability and a shared prosperous future for all.” Wigwe University’s vision is “to ignite Africa’s potential for prosperity, nurture thoughtful, fearless leaders, and become the leading university in Africa,” with a mission “to set a new standard of educational distinction for our continent, students and educators, and nurture the next generation of African leaders as guiding lights for positive impact in a rapidly changing world.” Its undiluted values will guide its cerebral and humane faculty and inspire its corporate culture, existence and choices to “be fearless, strive for greatness, think differently, lead through service, and be engaged.”

Once upon a founder: Herbert Wigwe “I cannot change the world overnight. But if I can empower even one youth today, tomorrow, they could join me in empowering others. With time, we could change the world,” he stated. “My name is Herbert Wigwe, and I challenge you to be fearless.” Herbert Onyewumbu Wigwe is a visionary. A progressive business leader, philanthropist, and humanitarian, Wigwe has been an undisputed leader in Nigeria and Africa’s economic and social transformation. Acclaimed as one of Africa’s foremost corporate bankers, Wigwe is the cofounder and Group Chief Executive Officer of Access Holdings PLC, credited with moulding Access Bank into the international powerhouse it is today. Wigwe embodies the spirit of daring leadership as he continues revolutionising businesses, lives, and now, with Wigwe University, a one-of-a-kind tertiary institution in Nigeria and on the African continent. Wigwe University is the culmination of the foremost banker’s lifelong ambition to build an exceptional, world-class, innovative, yet uniquely African institution to grow the next generation of leaders who will change the face of the African continent. Thus, Wigwe University is the African gateway to the world of entrepreneurship, technology, innovation, and impact. Herbert’s mission, through Wigwe University, is to change the course of Nigeria’s future through committed and world-class faculty and globally relevant and locally impactful curricula taught through novel methods to rival the globe’s most respected universities. His limitless courage, passion, energy, and dedication to excellence are the foundation of our fearless ethos and spirit. Here at Wigwe University, the fearless, like our founder, will make history. “The truth is that the end to the good we can achieve is nowhere in sight. There’s so much more to conquer,” Wigwe noted. The banking magnate added, “There are more lives to impact and generations to uplift to achieve their full potential. History will favour the brave, those who knew their limitations only because they had to defy them. History will favour the fearless.”

Laying a foundation Wigwe, the Chairman and Chief Executive Officer of Access Bank Holdings, laid the foundation in May

Wigwe 2023 to start the uniquely grand private university at his hometown, Isiokpo, in Ikwere local council in Rivers. It is a 15-minute drive from the Port Harcourt International Airport. The university’s sustainability plan consists of eight pillars that address environmental, social and governance issues, namely policy laws, standards and best practices; self-sustenance; pollution control, conservation, resource efficiency; social protection and inclusion; gender equality; sustainable development education; partnerships; and monitoring reporting and governance. The vision is clear: Wigwe wants the academic institution to be a world-class ivory tower, climate-friendly and global in outlook, with 60 per cent Nigerian and 40 per cent foreign faculty of experienced minds and hands. With the foundation of the expansive university set, about 200 different buildings are expected to stand on the 400 hectares of land of the institution. “The university will begin its first lecture in September 2024 with its host community and its environs powered by uninterrupted electricity supply when fully operational,” Wigwe announced during an inaugural meeting held on August 16, 2022, with the Isiokpo Council of Chiefs and other stakeholders in the community.

Wigwe University for the present and the future Wigwe University is the university of the present and the future, built on the vision of a “shared future with the mission to ignite Africa’s potential for prosperity and nurture thoughtful and fearless leaders,” thus becoming the leading university in Africa. It sets a new standard of educational distinction for African students and educators. With its distinctively inventive, pragmatic and holistic approach to education, Nigerians and other Africans can experience the innovative educational experience and reality they often long for overseas at Wigwe University. It is an ivory tower forged in the mould of the Harvards, Oxfords of this world. Yet, the university will uniquely nurture the next generation of African leaders as “guiding lights for positive impact” in a rapidly changing world. “All our programmes are delivered to an international standard in collaboration with key international partners,” stated the university. “Our approach puts us in touch with world-leading curricula, joint research and international exchanges and internship programmes.” Through these relationships, Wigwe University said it would facilitate opportunities for interactions with prominent writers, artists, scientists, innovators

and entrepreneurs, assuring that “across all faculties, we facilitate fearless thinking.” Wigwe University’s undergraduate programmes, from degrees to online courses, offer opportunities for all kinds of fearless, inspired, continual learners. The university will start with at least the colleges of art, management and social sciences, engineering, and science and computing.

Inside a university of the future At Wigwe University, students’ accommodation provides a safe space for learners to be on campus and connected to like-minded peers, libraries and campus facilities. There are provisions for sports and societies to connect around shared interests and values. “We believe in a balanced, sustainable lifestyle. From time outdoors to working as a sports team to fostering strong understanding and relationships between peers – our sports and societies offer something for everyone to get involved in,” the school said. Wigwe University is built on the vision of a shared future, with clear recognition that the world needs problem solvers, torchbearers and game-changers that will form part of its learning community to create sustainable solutions for “our planet and people.” “They will have the most conducive environment to do this and attain their highest potential,” Wigwe University assures its potential students.

Pathway into Wigwe University The JAMB portal will be opened to purchase registration forms in December 2023. Exact dates will be published (on the university’s website and social media platforms, with appropriate links provided). Prospective students outside Nigeria can email Wigwe University via info@wigweuniversity.edu.ng to get detailed and requisite information. A screening process will follow the mandatory national Unified Tertiary Matriculation Exams administered by the Joint Admissions and Matriculations Board JAMB. The university believes that the world needs problem solvers, torchbearers and game-changers who will form part of its community of learning to create sustainable solutions for the world. “They will have the most conducive environment to do this and to attain their highest potential,” said the university.

Glimpse into Wigwe University’s faculty Prof Miles Davis has been appointed vice-

chancellor of the soon-to-kick-off ivory tower. Davis has a PhD in human and organisational sciences from George Washington University, an MA in human resource development from Bowie State University and a BA in communications from Duquesne University. He was the inaugural chair of the Management Science Department at the Harry F. Byrd Jr. School of Business at Shenandoah University. He became the founding director of its Institute for Entrepreneurship, and later, Davis became the dean of the Harry F. Byrd, Jr. School of Business. Davis is an authority on entrepreneurship whose most recent work focuses on integrity, values and principles in the business world, and faith-based entrepreneurship. He is a member of the Society of Leadership Fellows at St. George’s House (their first non-UK-based member), an organization based out of Windsor Castle in England that brings together world leaders in a variety of fields to analyze contemporary issues. Davis sits on the board of the Amana Mutual Fund Trust. Davis is an awardee of numerous bodies. Most recently, he was named the ‘Portland Business Journal President of the Year’ (the first university president to be so named). Another personality to keep the institution running is Prof Nelson Uzoechi-Uzoma Alino, the deputy vice-chancellor (Administration/Dean College of Management and Social Science). Before joining Wigwe University, Alino held the esteemed position of William S. Perlroth, professor of Accounting and Taxation at Quinnipiac University. During his last eight years at Quinnipiac, he was the interim associate dean, department chair, and director of the MSA programme. Alino received several awards and nominations for his teaching and research. His leadership and dedication to innovation were instrumental in achieving a separate AACSB accreditation for the Accounting Program at Quinnipiac University. He is also responsible for initiating the university’s highly acclaimed Volunteer Income Tax (VITA) programme, a Certified Public Accountant (CPA) in the US, a Fellow Chartered Accountant (FCA) in Nigeria, and a Certified Forensic Accountant (CRFAC®️) in the USA. Dal Didia (deputy vice-chancellor, academics): Before joining Wigwe University, Didia, a professor of Economics and chair of the Department of Economics, Finance, and General Business at Jackson State University, was also a professor and chair of the Department of Economics, School of Arts and Sciences, American University of Nigeria (AUN) Yola. As chair of the AUN Senate Curriculum Committee, Didia led a comprehensive curriculum revision, adding more programmes while streamlining the curricular development process at AUN. Didia has over 30 years’ experience in academia.

Board of trustees Among the exceptional leaders and experts who lend their insights and experience to shape the strategic direction of Wigwe University’s board of trustees are accomplished individuals from diverse fields committed to advancing education and fostering a bright future for the university, including Dr Awosika (a former chair of Access Bank Plc), an accomplished administrator with over three decades’ experience in public sector governance. She is the chair of the Chams Plc and Josephine Consulting Limited board; Mosun Belo-Olusoga, former chair of Access Bank Plc, is the principal consultant/programme director of KRC Limited; Tokini Peterside-Schwebig is a Nigerian entrepreneur and businesswoman. She created ART X Lagos, the first international art fair in West Africa; Prof Fabian Ajogwu is a SAN and the founding partner of Kenna Partners. He chairs the Novare Group in Nigeria (owners of Novare malls), ARM Harith Infrastructure Ltd and NES Global as an independent non-executive; and Dr Kenneth Ken-Worgu, the chairman and founder of Nortonel Group of Companies, with over 20 years of comprehensive experience in the oil and gas sector with massive and enviable exposure in operations, sales and marketing. Others are Olumide Soyombo, the founder of LeadPath, a seed capital investment fund dedicated to local tech startups. He focuses on powering revolutionary innovations and ideas in Africa by bridging the gap between the startup stage and market dominance through funding and structure support; and Uche Wigwe is the managing partner of Wigwe and Partners, a firm established with a mandate to deliver top-notch legal advocacy and advisory services with international best practices and standards. A seasoned professional with an eclectic mix of local and international experience garnered over 20 years.

WEDNESDAY, OCTOBER 18, 2023 • T H I S D AY

NEWS

2023 WORLD FOOD DAY...

L-R: Speaker of Enugu State House of Assembly, Hon. Uchenna Ugwu; Deputy Governor of Enugu State, Barr. Ifeanyi Ossai; Governor of Enugu State, Dr. Peter Mbah; National Vice Chairman (South East) Peoples Democratic Party, PDP, Chief Ali Odefa; and BOT Chairman, PDP, Senator Adolphus Wabara, during the South East zonal meeting of the party in Enugu, Monday.

Declare Emergency on Drugs, Narcotics Abuse in Nigeria, Senate Urges President Sunday Aborisade in Abuja The Senate yesterday urged the federal government to declare a state of emergency on the growing menace of drugs and narcotics abuse in the country. The Upper Chamber also directed its committee on National Agency for Administration Control (NAFDAC), Drugs and Narcotics to liaise with relevant federal government agencies to convene a National Summit on the state of drugs and narcotics abuse in the country. The resolutions followed the consideration of a motion titled: “Urgent need to address the menace of drug abuse in Nigeria,” at plenary, sponsored by Senator Babangida Uba Hussaini (APC Jigawa North-West. Speaking on the development, President of the Senate, Godswill Akpabio, said the menace of drug abuse in the country was becoming so alarming to the extent that some youth now drill holes on soakaway pits and sniff the vapour to get high. He called on parents to always check their soakways to ensure that there were no holes. On his part, Deputy Senate President, Jibrin Barau, noted that the, “future of every country lies in its youth and when you have something that is destroying your youth, it shows that your future is in jeopardy. “This scourge is everywhere, even celebrities who are supposed to be role models, be exemplary and show the way for others to follow are also into it. Politicians alike and indeed, all spheres of our life.

“The NDLEA is doing very well but the motion is a wake-up call for all those that have the responsibility for making sure that we deal with this matter to wake up and make sure that they do the needful in getting this matter dealt with properly. “We must include this phenomenon in our school curriculum to begin to teach our children from the primary school level the negative effects of drug abuse. Elsewhere, like in the United States, there are courses even in the universities that deal with abuse. We need to put that on the front burner in our higher institutions so that people will be aware of the harmful effects of drug abuse. “It is a sad commentary on the way things are done in this country. Human capital is what drives a good economy and we have an abundance of population but we are allowing it to get destroyed through the intake of illicit drugs. “We must all join hands and work together to make sure we deal with the menace of drug abuse.” Hussaini in his lead debate, noted that, “Nigeria is currently facing a rise in drug abuse which has reached an unprecedented level transforming from a mere transit route in the 1990s, into a country filled with drug abusers and drug traffickers all over its land space, while a population of 30 to 35 million spends approximately $15,000 and $30,000 annually on psychotropic drugs and alcoholic beverages, respectively." He added: “Also note that according to a report by the United

Nation’s Office on Drugs and Crime and the European Union on drug use in Nigeria, about 14.3 million Nigerians between the ages of 15 and 64, are drug abusers. “Aware that the report stated that 10.6 million addicts were cannabis users, 4.6 addicts used pharmaceutical opioids and 238,000 drug abusers used amphetamines. “Also aware that the report further revealed that the prevalence of drug use per geopolitical zone as far back as 2017 shows that the North-West zone accounted for 12 per cent (3,000,000), North-East zone - 13.6 per cent (2,090,000),

North-Central zone -10 per cent (1,500,000), South-West zone - 22.4 per cent (4,382,000), South-South zone - 16.6 per cent (2,124,000), and the South-East zone 13.8 per cent (1,550,000).” He lamented that the main drugs abused in Nigeria were mood altering or psycho active drugs, performance-enhancing drugs, dependency drugs, as well as prescription drugs, “whose side effects include addiction, trauma, mental illness and often times resulting in ill health, violence and involvement in criminal activities.” He said the Senate was disturbed

The Ijaw Youths Network (IYN) has called on stakeholders in the Niger Delta to support Tantita Security Services in the crucial task of reducing the harrowing theft of the nation’s crude oil, instead of promoting individual inordinate ambitious to upstage the company which it stated would do the people of the region no good. The IYN urged all sons and daughters of the oil rich Niger Delta who indicated interest in the execution of the pipeline protection contract to show the requisite spirit of sportsmanship by providing the necessary support to Tantita. The youth organisation with branches across the Ijaw nation,

noted that the Niger Delta and indeed Nigeria would have more to gain than any recourse to strife, protest, sabotage and any untoward action. The IYN Coordinator, Frank Ebikabo and Secretary, Federal Ebiaridor, noted that the award and renewal of the contract went through a competitive bidding process in strict adherence to the laws of the land. They noted further that the award of a critical contract for the protection of pipelines which was central to the nation’s economy cannot be subject of sentiments. The duo recalled that Tantita, which convincingly executed the first phase of the security contract, was able to engage 17,500 youths in

against drug abuse carried out by the NDLEA and other relevant institutions of both state and federal governments is not providing the required result, hence the need to include special drug education as a compulsory subject in the Nigerian basic education; “Alarmed that the consequences of drug abuse will continue to endanger our national development, public safety and family system if urgent action is not taken to strengthen existing legal, policy and institutional frameworks to face the challenges with all sense of responsibility.”

Minister Calls for Collective Action against Poverty

Says ignoring poverty may amount to sitting on keg of gunpowder Tinubu launches cash transfer relief aid for 15 million households

Deji Elumoye in Abuja The Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, has warned against ignoring poverty alleviation in the country, saying doing so would amount to sitting on a keg of gunpowder. Delivering a welcome address at the launch of the Renewed Hope Conditional Cash Transfer initiative of President Bola Tinubu at the State House, Abuja, yesterday, the Minister declared, "as a nation, we must come together to fight poverty. Poverty is that scourge, poverty is that hydra headed cobra in the room that if not tackled, would consume everyone.

“Sitting and ignoring poverty at any level, will only seem or equate to sitting on a keg of gunpowder and that's why today, the president is taking it headlong." Edu observed that the N75,000 already announced by the President for disbursement to vulnerable households in the country is enough to successfully run small scale businesses. According to her: “Beyond this, the government will be providing low-cost shelter for the poor and internally displaced persons as a form of providing that cover for them. "Several other interventions, including the rural vocational skills

Group Seeks Support for Tantita Security to Secure Pipelines in Niger Delta Michael Olugbode in Abuja

that a significant number of deaths from accidents and violent crimes have been traced to the activities of persons under the influence of drugs “especially the discovery of more dangerous substances called ‘Kurkura’ in the North and ‘Umkpromiri’ in the South.” The motion read in part: “Worried that the prevalence of drug abuse in Nigeria is a public health challenge which seems to be on the increase despite intervention by international, regional, federal and state bodies through laws, policies and technical supports; “Also worried that the war

the Niger Delta in the fight against oil thieves. The IYN said it was seriously inclined to believe that Tantita Security Services Limited would not deviate from its record of engaging the youths of the Niger Delta in the patriotic duty to rid the nation of oil thieves in this second phase. The IYN leadership also called on the leadership of Tantita to extend the hand of fellowship once again to all stakeholders including those who opposed the company’s bid for the renewed contract. Ebikabo and Ebiaridor, also urged the company to ensure effective justification of the huge confidence reposed in it by the President and the leadership of the NNPC by increasing crude oil production in

the country. It stated: “The Ijaw Youth Network met at Gelegelegbene, Edo State, on Thursday, to deliberate on issues of interest affecting the Ijaw nation prominent among which was the issue of opposition from unexpected quarters against the Tantita Security Services Limited. "Congress called on all indigenes of the Niger Delta who made unsuccessful attempts to get the contract for pipeline protection to join forces with Tantita to fight the dangerous oil thieves in Nigeria. “We are in no doubt that Tantita Security Services Limited which engaged a total of 17,500 and other prominent people from the Niger Delta in the campaign against oil theft will focus on youth engagement.

Intervention will be carried out at mass scale. All of these are targeted at the various dimensions of poverty in the country. “We want to encourage Nigerians, we want to encourage the private sector, we want to encourage our development partners that are here, it's time to step up to the occasion. “We have a clear-cut roadmap, an action plan for implementation of the eradication of poverty from Nigeria. Everyone must key in and be part of it,” she said. Edu, assured that Tinubu would eradicate poverty in the country by the year 2030. Tinubu, later launched the Renewed Hope Conditional Cash Transfer initiative, targeting more than 61 million vulnerable Nigerians for post-fuel subsidy removal relief. The launching ceremony of the programme coincided with this year’s International Day for the Eradication of Poverty. The Renewed Hope Conditional Cash Transfer initiative, which would give monthly N25,000 cash support to 15 million households nationwide was expected to gulp nothing less than N1.125 trillion. Speaking at the flag-off ceremony of the initiative, Tinubu, who was represented by the Secretary to the Government of the Federation, Senator George Akume, described the launch as a statement of his administration’s commitment to poverty alleviation. According to the President, the theme of this year's commemoration: "Decent Work and Social Protection: Putting dignity in practice for all,"

was no doubt in perfect alignment with the Renewed Hope Agenda. He said: “Today is a significant day for us in Nigeria and for my administration for it brings with it an opportunity for me to restate my administration's commitment to poverty alleviation as expressed in my 8 point Agenda. “My government will lead from the front in seeking to ensure that all Nigerians have opportunities decent for dignified work and sustained social protection. “It is only via a sustained collaborative approach that we can win this war against poverty in Nigeria and the world at large. Hope is here. I ask the Nigerian people to please ensure that they key into all the available programmes because they are here to help. “Our objective is to lift millions of Nigerians out of poverty. Yet, this will only be possible with the cooperation of the people we seek to help. Let us continue to work together to achieve our collective goal of eradicating poverty in Nigeria”, he said. Also speaking, Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun, said the 63 per cent statistics of Nigerians living in poverty, representing 84 million of the population, is unacceptable to President Tinubu. His words: “Clearly to Mr. President, it is totally unacceptable as it is to the rest of us. And that is why it is perhaps his number one priority, tackling poverty and he has a program to stabilise the economy and grow the economy in general.

T H I S D AY • WEDNESDAY, OCTOBER 18, 2023

NEWS

Convention and Expo at San Diego Convention Centre...

L-R: Minister of State Police Affairs, Hajjia Imman Sulaiman-Ibrahim; President, International Association of Chiefs of Police, Mr. John Letteney; Inspector-General of Police, Kayode Egbetokun, and DIG Bala Ciroma, Deputy Inspector-General of Police Department of Finance and Administration after the General Assembly of the 130th IACP Convention and Expo, at San Diego Convention Centre in US... yesterday

Ondo Assembly Agrees to Cease Fire, Suspends Aiyedatiwa's Impeachment

Ganduje, reconciliation committee broker truce Akeredolu: I'm not returning to Germany for treatment

Adedayo Akinwale in Abuja and Fidelis David in Akure After weeks of animosity, members of the Ondo State House of Assembly have agreed to suspend the impeachment process against the Deputy Governor, Lucky Aiyedatiwa. The lawmakers agreed to end hostilities following the intervention of the leadership of the All Progressives Congress (APC) led by the National Chairman, Dr. Abdullahi Ganduje, after a reconciliation meeting held at the party secretariat on Tuesday in Abuja In another development, Ondo State Governor, Mr Oluwarotimi Akeredolu, has dismissed report that he was set to return to Germany

for medical vacation, describing it as wicked and misleading. However, at the truce meeting were members of the party's National Working Committee (NWC), the Aminu Bello Masari-led 9-man Reconciliation Committee, Ondo State party chairman, Ade Adetimilehin, and 18 of the 22 APC lawmakers led by Speaker Oladeji Olamide. The impeachment process against Aiyedatiwa commenced after Akeredolu came back from his 90 days of medical leave. But the timing of the impeachment had suggested that Akeredolu initiated the process to oust his deputy from office The Deputy governor came under the threat of impeachment by the

Assembly following allegations of gross misconduct. Consequently, the Assembly served him notice of impeachment, which he also challenged in court, thus stalling the process. Addressing a press conference after a closed door meeting, which lasted for about two hours at the national secretariat of the APC in Abuja, both Ganduje and the Assembly Speaker, Hon. Oladeji Olamide, confirmed the development to suspend the impeachment process. Ganduje commended all the stakeholders in the crisis for allowing a political solution to the impasse in the state. The chairman stressed that the decision by the lawmakers to

ceasefire showed that they were democrats and committed party faithful. "First of all, I have to thank the Speaker and his members of the State Assembly for honouring our invitation to have an in depth discussion and receive an interim report from the reconciliation committee. "We thank you for that. This is proof that you are real democrats, civilised and believe in conflict resolution. I have to thank everybody in the reconciliation committee, which has experienced members, several senators, House of Representatives members and even the two-term governor of Katsina, Aminu Masari who joined us. "I have to thank the State As-

PDP: In Free, Fair Poll, Uzodimma Can’t Win One Unit Chuks Okocha in Abuja

The Peoples Democratic Party (PDP) has said given a free, fair, transparent and credible governorship election in Imo State, Governor Hope Uzodimma, could not win a single Polling Unit. The PDP asserted that all electoral indicators in the state showed that Uzodimma and his party, the All

Progressives Congress (APC) had been rejected by the people and had no fighting chance before the more popular PDP candidate, Senator Samuel Anyanwu in the November 11, 2023 governorship election. National Publicity Secretary of the party, Hon. Debo Ologunagba, who stated this while speaking to newsmen in Abuja, emphasised that

House: Influx of Illegal Local, Foreign Miners Causing Unrest in Benue Adedayo Akinwale in Abuja

The House of Representatives has lamented that the influx of illegal local and foreign miners infiltrating Kwande Local Government of Benue State was causing daily security unrest, environmental pollution and possible food crisis The House said if the trend was left unchecked, Benue would become the next banditry hotspot just like the case of Zamfara State over the last several years due to the illegal gold mining. The decision of the House followed the adoption of a motion on the need for urgent intervention in the Nigeria-Cameroon refugee crisis, banditry and environmental pollution arising from the discovery and mining of gold in Kwande Local Government of Benue State, moved at the plenary by Hon. Terseer Ugbor. Moving the motion, the lawmaker said Kwande bordered Cameroon

on the North, Cross River to the East and Taraba to the West. He decried the fact that the local government had suffered violent attacks termed as farmers-herders clashes leaving many indigenes either dead, badly injured or homeless, and without farmlands and a source of livelihood for over 10 years, especially the people of Turan and Ikyurav-ya districts. He stressed that the NigerianCameroonian international border through Kwande had been approved with the potential to enhance trade between the neighbouring countries and create massive economic activities. However, he contended that with the discovery of precious minerals, the clashes between Cameroonian and Nigerian communities had begun to escalate due to the rush to own these precious minerals, adding to the already volatile security situation in the area.

Uzodimma had never won election in Imo State and had never enjoyed the support of the people. “The APC knows that it does not have the mandate of the people. Governor Uzodimma has no visible organic support base in any part of Imo State. He has never won in any election in the state because he is detached from the people, including in his home, Orlu zone. “The indicators are clear and the November 11, 2023 election will not be different. Governor Uzodimma will not win in any Polling Unit in a free, fair and transparent election because Imo people have found

a credible, sincere, humane and approachable leader in Senator Anyanwu. “That is why the APC has been resorting to violence and intimidation of innocent citizens, destruction of property and devising various means to frustrate opposition parties in the electoral process and to compromise institutions of democracy, having realized that it cannot win in a peaceful, free and fair contest. “But I can assure you that the people of Imo State are bigger than the APC and they are resolved to resist the APC particularly in the coming election,” Ologunagba stated.

sembly for agreeing to suspend the impeachment process and give room for a political solution to the problem. As the reconciliation chairman has mentioned, they didn't meet the governor and his deputy yet. But they met all the stakeholders. That was what warranted the meeting today. "And now, having suspended the impeachment process, they have created a conducive environment to continue dialoguing. We believe that we will reach a political solution. APC, as a political party, is an institution that is indispensable to democracy. "Therefore, apart from our basic function for recruitment of membership, elected officers and appointed officers, it is our responsibility to see that all the ethics of democracy are followed and crisis averted in our government, both at subnational level and at international level. “It is a political crisis and we are a political institution. So, there's no way we can fold our arms and see that our children are fighting and we allow them to go like that," Ganduje stated. Speaker Olamide, said the Assembly was ready to cooperate as an arm of government with the party, adding: "We promised to work with the national chairman and the chairman of the reconciliation committee to find a lasting solution to the political crisis in Ondo State. "We gave a promise that on our part, we are ready to cooperate as an arm of government with the party. At the same time, whenever they

want to meet us, we will be of help to the committee. More importantly, we will allow the committee to do their work without hitches. Apart from that, we believe this is the only political solution that will be of help to resolve the crisis in Ondo State." Chairman of the reconciliation committee said the impeachment process has been suspended. “For now, the probe and impeachment process have been suspended to allow room for the committee to work. We met with all stakeholders, except for the governor who we are still making an effort to see,” he said. Meanwhile, Akeredolu, who denied returning to Germany for medical vacation, explained that the report was concocted and planted by drowning politicians, who were still nursing the pains of defeated expectations. Akeredolu, who stated this in a statement through his Chief Press Secretary, Richard Olatunde, said while the people of the state were happy with his safe return from medical vacation, this set of "embattled" politicians had been having sleepless nights gnashing their teeth in regrets of their failed evil plans. "The story making the rounds is baseless, unfounded and only a figment of the imagination of evil-minded politicians. For us, we are committed to addressing the genuine concerns of the people of the state. This is why development is prioritized under the Akeredolu administration.

After 15 Years Blackout, Oyebanji Restores Power to Ekiti Towns Gbenga Sodeinde in Ado Ekiti

Determined to boost local economy and propel the industrial development via robust growth of Small, and Medium Scale Enterprises (SMEs) in Ekiti State, Governor Biodun Oyebanji, has charged Ekiti citizens to protect all public utilities in their domains to safeguard government infrastructure from being destroyed. The governor also said his government would not tolerate the idea of towns being left in perpetual power outage for a period of 15 years, describing this as a potential danger that could cripple businesses and shore up the poverty level in the state. Oyebanji spoke in Ikogosi Ekiti, while commissioning the extension of the 132/133KVA power

substation from Omisanjana in Ado Ekiti to reconnect the town back to the national grid after years of power outage. He said the 33KV electrification project , which covers 19km radius and stretched from 132 KV TCN Sub-Station at Omisanjana to connect Erijiyan and Ikogosi-Ekiti needed protection to spur business activities along that axis. "I wish to urge our people to see all public infrastructure within their communities as their property and to jealously guard and protect them from vandalisation. They must also be prepared to pay for electricity usage," he pleaded. Oyebanji, who described electricity supply as an impetus and a major boost to the growth of SMEs, said this view accounted for why the government placed

high premium on reconnection of towns experiencing lingering power outage across the state. He lamented that a town housing one of the state’s business concerns was without power supply for years, saying connecting the town back to the national grid would boost the water bottling company as well as the tourism potentials of the area. "For us, electricity is a critical infrastructure in our Ekiti development agenda. It is indeed, the circulatory artery upon which the Ekiti industrial agenda can be kept alive. Without power any talk of industrialisation remains an empty wish, it is for this reason that we made it a major priority in our Six Pillars of Administration. "When we came on board, the power infrastructure audit

of the State indicated that many communities had been without electricity for many years, ranging from 6-15 years. We also noticed that a critical factor that had bedeviled Ikogosi Warm Spring and Resorts and the Gossy Bottling Company was the absence of sustainable power supply and without connecting these facilities to the national grid, it would remain a mere pipe dream and the venture unprofitable. "In our bid to find a lasting solution, it was observed that there was a 140MVA transformer at the 132KV TCN Sub-Station at Omisanjana, Ado Ekiti out of which only 80MVA transformer was being utilised while 60MVA transformer was underutilized due to lack of a corridor to evacuate the energy to.”

WEDNESDAY, OCTOBER 18, 2023 • T H I S D AY

NEWS

Unveil Hero Apprenticeship Scheme...

L-R: Anambra State Commissioner for Industry, Hon. Christian Udechukwu; Vice Chancellor of Paul University, Awka, Prof. Obiora Nwosu; Deputy Vice Chancellor Administration, Prof. Stella Okunna, and Hero Brand Ambassador and veteran actor; Chief Nkem Owoh, during the press conference to unveil Hero Apprenticeship Scheme a CSR project of International Breweries, in Onitsha... yesterday

Babachir: Obi Won 2023 Presidential Poll, Tinubu Came Distant Third

Says president lacked sound pedigree to lead Nigeria Insists dictatorship creeping into nation, queries competence of appointees LP candidate’s defeat has done incalculable damage to your psyche, APC replies Adedayo Akinwale and Emmanuel Addeh in Abuja A former Secretary to the Government of the Federation (SGF) under the Muhammadu Buhari administration, Babachir Lawal, yesterday, insisted that the presidential candidate of the Labour Party (LP), Mr Peter Obi, won the February 25 presidential election in Nigeria. The former federal government scribe, in a statement in Abuja, insisted that the officially declared winner, Bola Tinubu of the All Progressives Congress (APC), came a distant third behind Obi and Atiku Abubakar of the Peoples Democratic Party (PDP). But the APC has fired back, saying Obi’s defeat at the February 25 polls had done incalculable damage to Babachir’s psyche. The former SGF stated that he came to the conclusion following bits and pieces of information from various sources of factual data he independently aggregated. “I have resisted the temptation to engage in the contemporary political discourse since the May 2023 election faux pas. I did this for two reasons. The first being that as an active player in the drama, I needed time to analyse and digest the data that led to the outcome(s) so I could arrive at an informed decision. “The second, being that the rainy season had just set in and

it was necessary that I focused my attention on my farms, which are the mainstay of my livelihood. “The current topical issues for political discourse and inquiry are whether or not Bola Tinubu won the presidential election and/or that he was apriori, qualified to participate in the election given his murky biodata as is now being publicly unveiled daily in an avalanche. “My answer to the first inquiry is that regardless of whatever INEC or Appeal Court said or did, Bola did not win the election. Right from the start of the campaigns, Bola knew he was not going to win the election in a free and fair contest so he decided to go by all means. “Available factual data as aggregated from several independent sources indicate that Obi got the majority votes while Atiku came second. Bola came a distant third in the number of votes scored,” he argued. On Tinubu’s qualification for the election, Babachir stressed that given the now unfolding deluge of ‘uncomplimentary information’ about who or what Tinubu actually is, sound ethics and morality should have convinced him to voluntarily excuse himself from participation in the election. Notwithstanding, Babachir said he believed that Tinubu still has the time and opportunity to save himself what he described as the 'public humiliation and embarrassment to his person', both locally

and internationally by resigning to give more attention to his health. “After all, no one knows about the truism of these severely embarrassing and humiliating exposures about his person than the man himself. “Leadership is all about integrity; sound pedigree, trustworthiness and the ability to unite and instil hope and confidence in the people one seeks to lead. In these qualities, most Nigerians are in total agreement that Bola has them in very short

supply indeed. “But now, six months down the line, the chicken has come home to roost as Nigerians have come to the realisation that we have not got what we deserve politically,” he added. Meanwhile, the National Publicity Secretary of the APC, Felix Morka, in a statement, said Lawal emerged from his hibernation slinging incoherent aspersions on the person of the President of Tinubu, and the exalted office he

occupies. "After a long hiatus licking his wounds from the monumental electoral loss of his candidate in the last presidential election, Mr. Lawal unabashedly is out again, peddling gibberish, rather than learn from his political misadventure with equanimity. “Clearly, the defeat of his principal, Peter Obi, at the poll has done incalculable damage to Mr. Lawal’s psyche and his capacity for rational thought as evident in his analysis

based entirely on the figment of his warped imagination rather than on hard facts and figures. "A clear sign of his disconnect from reality was his reference to the election held in May 2023, rather than February," he said. The ruling party, therefore, challenged Lawal to give a detailed breakdown of his socalled "aggregated facts sourced from independent sources," which he claimed proved that Obi won the election or forever keep mute.

LP, CSJ Condemn N160m Car Gift to House Members Chuks Okocha and Michael Olugbode in Abuja

The Labour Party has expressed shock and sadness over the planned distribution of N160 million cars each to members of the House of Representatives, saying it was disappointed at their decision when the country was faced with deepening poverty. Also, the Centre for Social Justice (CSJ), has described as insensitive, the purchase of the Toyota SUVs against the background of Nigeria’s perilous fiscal position, saying from all indications, money was borrowed to buy the exotic cars for the lawmakers The Labour Party called on members of the party in the lower

chamber to kick against the distribution of the N160 million in line with the Labour party ideology.. In a statement by the National Chairman of Labour Party, Julius Abure, he said, "The Labour Party is indeed shocked, saddened and disappointed at the level of insensitivity being displayed by the executive and the legislative arms of the President Bola Tinubu-led All Progressives Congress administration." Abure said when the news filtered that 360 members of the House of Assembly were to be gifted vehicles worth about N160 million each, it was thought to be a huge joke. "It is saddening that with deepening poverty among Nigerians, the administration has decided to

Motion on Nigeria-Niger Border Closure Causes Uproar in Senate

increase its appetite for a life of opulence to mock hardworking but underprivileged Nigerians. "How else can any government justify the bloated Federal Executive Council of 48 cabinet ministers, with each of them given three luxurious four-wheel drive vehicles on the first day in office, paid for and fueled by taxpayers? "This is notwithstanding hundreds of presidential and ministerial aides, as well as numerous aides to the aides which are being funded by the government. "These vehicles will be costing Nigerians about N57.6 billion and this is happening at a time when government claims it cannot afford to increase the minimum wage of N30,000 monthly to workers." On their party, the CSJ in a statement jointly signed by the NGO Good Governance Manager, Victor Emejuiwe, and Public Finance Management, Sundayson Chidi,

noted “with regret the confirmation by the House of Representatives, that it is taking delivery of Toyota SUVs worth about N130 million each as official vehicles. “CSJ and indeed all right-thinking Nigerians are extremely troubled about this development against the background of Nigeria’s perilous fiscal position. The 2022 year-to-end budget implementation report confirmed that 96 per cent of Nigeria’s revenue was used for debt service, thus implying that only 4 per cent was available for personnel, overheads and capital expenditures and this trajectory has worsened in 2023. “The implication of this is that Nigeria is borrowing to buy these vehicles at a time we are unable to meet foreign exchange obligations to service providers like airline operators and manufacturers who can no longer secure foreign exchange for the purchase of raw materials.”

of electricity today with the Transmission Company of Nigeria (TCN), it should be between the investor and the TCN. "What we see in Nigeria is that the federal government provides a sovereign guarantee, assuring the investor that the money will not be lost, and that provides a situation where the investor and the organisation relax because they know that the government will pay. "For now, we have proposed a situation where the investor and the lender will be committed to ensuring that the project works

and payments will be from the proceeds of that project. "There should be a gas power policy. The policy on gas to power should be adequately streamlined. Concerted effort should be made at the relation of Nigerian currency to foreign currency." He added that Nigeria could overcome all these challenges if there was an improved public and private sector collaboration, while the government was working on providing an enabling environment for ease of doing business in the power sector.

Akpabio calls emergency closed session, Ndume walks out FG’s Subsidy on Electricity Sumaila: Closure increasing crimes Returns, Now N135bn in Q2

Sunday Aborisade in Abuja

Senate President Godswill Akpabio, yesterday, suddenly called for an emergency closed session during plenary the moment the Chief Whip, Senator Ali Ndume, angrily staged a walk out. Ndume, who is representing Borno South Senatorial District on the platform of the All Progressives Congress (APC), had raised a point of order on alleged errors committed and not corrected by Akpabio. The error referred to by Ndume was a motion moved by Senator Summaila Kawu (NNPP Kano

South) for debate on the need for re-open the Nigeria-Niger Border without reading the title of his motion. Ndume, who rose through order 51 of the Senate standing rules, requested the Senate President to allow for correction of any error made or observed in plenary. "This is the Senate of the Federal Republic of Nigeria guided by laws, rules and procedures. If in the course of proceedings at any session, errors are observed, they must be corrected before forging ahead with such proceeding. Nobody is above learning. The

Senate President should note that," he said. Senator Sunday Karimi (APC Kogi West) made attempts to sustain Ndume's line of argument through another point of order but was also ruled out of order by the Senate President. The Deputy President of the Senate, Jibrin Barau, quickly rose to read order 16, which required a substantive motion to be moved by any Senator for correction or review of earlier decision taken. The decision by Akpabio to sustain Barau's point of order, made Ndume to raise order 54 to correct

the perceived error. Akpabio demanded the standing order book from the Clerk to the Senate and read it out. He then told Ndume that the order did not support his line of argument. The Senate President subsequently ruled him out of order without being allowed to defend his argument. Not satisfied with Akpabio's ruling Ndume packed his documents and stormed out of the chamber, and went straight to his office. The Chief Whip was just settling down in his office, when he received a call from a colleague to return to the chamber for an executive session.

T H I S D AY • WEDNESDAY, OCTOBER 18, 2023

NEWS

AFFIRMATIVE FINANCE ACTION FOR WOMEN IN AFRICA...

L-R: The Consul-General, Consulate of the Kingdom of Netherlands, HE Michel Deelen; the Special Assistant to the Honourable Minister of Women Affairs, Dr Fatimah Abdullahi; the Group Chief Executive Officer, African Guarantee Fund, Jules Ngankam; the Acting Permanent Secretary, Federal Ministry of Finance, Grace Ogbonna; the Vice President for Agriculture, Human and Social Development, African Development Bank(AfDB) Dr. Beth Dunford and the Director General-Nigeria, African Development Bank(AfDB) Lamin Barrow during the opening ceremony of the Affirmative PHOTO: SUNDAY ADIGUN Finance Action for Women in Africa (AFAWA) Finance Series held in Lagos.....yesterday

Media Certification Board to Licence Journalists in Nigeria Olawale Ajimotokan in Abuja The Nigeria Press Council (NPC) has proposed an amendment to the Act Establishing the NPC to substitute its name and function to be replaced with another organisation known as the Media Certification Board (MCB). The Executive Secretary of NPC, Mr Francis Nwosu, canvassed the change yesterday when the Minister of Information and National Orientation, Mr Mohammed Idris, visited the NPC secretariat in Abuja. He said the MCB would be responsible for the registration of all journalists in print, broadcast and online platforms in the industry so long as they have journalism training and background.

“So long as you have journalism training and background you will be listed by the board as a practitioner. With that registration, we hope to have an industry that is both ethically and purely professional. “We can do that in my thinking, by upgrading the Nigeria Institute of Journalism (NIJ) in Lagos and the International Journalism Institute, Abuja, as clearing houses for all journalism graduates in Nigeria,” Nwosu, a fellow of the Nigerian Guild of Editors said. He said practitioners who spend three or four years studying Mass Communication or Journalism would now go to NIJ or IJI for six months or nine months to graduate in journalism. “The MCB will then licence

you to practise and come into the profession at a ceremony where they will all register and are documented and a licence is issued for them to practise as journalists. “The idea is to create a profession under the MCB. Those licences will be renewable at a time agreed by the Nigeria Press Organisation (NPO) at an agreed date and time for the renewal of practising licences. "The same applies to newspapers and magazines and publishers to take in some recommendations that the industry may prescribe. So all media workers and media institutions will have a registration board to be controlled by the MCB and pay some money that goes to the maintenance of the NPC so it can generate its own fund

House Urges Security Agencies to Secure Release of 30 Female Varsity Students

Adedayo Akinwale in Abuja

The House of Representatives has called on the security agencies to secure the release of the remaining 30 female students of the Federal University Gusau, Zamfara State, who were still in captivity. The House called on the Chief of Defence Staff, and the Inspector General of Police to immediately ensure the release of the girls from the bandits. The decision of the House followed the adoption of a motion of urgent national importance moved at the plenary by Hon. Kabiru Ahmadu. The lawmaker expressed worry over the fate of the remaining girls in the hands of these bandits, and bemoaned the gruesome manner in which the bandits had continued to terrorise citizens in the North-west region. In his contribution, Hon. Inuwa Garba, described the situation as disturbing, saying academic institutions seemed unsafe as was the intention of the bandits, especially in the Northern region of Nigeria. He appealed to the Northern governors to call a meeting to ensure the menace was nipped for the good of the girl-child education as they seemed to be the primary targets of the bandits. In his intervention, Hon. Bappa Misau, decried the widespread abductions in different parts of

Northern Nigeria, and called on the House to compel the security agencies to be more proactive in carrying out their duties of ensuring safety of Nigerians. Misau frowned at all incidences of treating these bandits with kid gloves. On his part, Hon. Etabnabene

Ben, called for the establishment of State/community policing to fish out local bandits, even as he advocated local government autonomy, where the chairmen and councillors could stand as the chief security officers of the locality and coordinate security at the grassroots.

and run its own affairs exclusive of government control and funding,” Nwosu said. He added that all the functions as currently spelt out in the Nigeria Press Council Act would be transmitted to the MCB to do the same thing as suggested except the NPO,

"who are owners of the print media in Nigeria, will think otherwise or make any amendment." He told the minister that the idea was open for further debate and discussion by members of the industry, adding the most important thing was the survival of the NPC,

“even if it doesn’t go by the same name and character it should be by the name of MCB for all journalists, to be owned exclusively by journalists and journalism industry and not government as NPC stakeholders don’t want to hear the word regulation.”

Aviation: Nigeria, Algeria to Review BASA Agreement

Keyamo to witness Uganda's inaugural flight to Nigeria

Kasim Sumaina in Abuja The federal government has called for the review of the Bilateral Air Service Agreement (BASA) between Algeria and Nigeria, noting that the demand for a direct flight to Abuja would be achieved. The Minister of Aviation, Festus Keyamo, assured the Algerian Ambassador, Mr. Hacine LALTI, who paid him a courtesy call in his office in Abuja, said the meetings of aeronautical engineers from both countries slated earlier for December would be brought

forward tentatively to the 7th of November to Fastrack the BASA agreement review as demanded. Speaking earlier, LALTI expressed appreciation to the Minister for hosting him. He demanded for a review of the July 14th, 2022 agreement to include a direct flight to Abuja, saying the government of Algeria had identified Nigeria and South Africa as business opportunities countries and was willing to partner with them. In a similar development, Keyamo is to witness the inaugural

flight of Uganda to Nigeria. He said this during a courtesy visit by the Uganda High Commissioner to Nigeria, Ambassador Nelson Ocheger. Keyamo, while thanking the Ambassador for the visit said Nigeria and Uganda have a long history of brotherhood. He said the direct flight to be witnessed would mark the beginning of partnership between the two countries while noting that free trade agreement between African countries can only easily come through free Skys.

Access Holdings Offers $10,000 Grants Each to Two Outstanding Talents at ART X Prize 2023 Dike Onwuamaeze Access Holdings and ART X Collective would provide a grant of $10,000 each to two outstanding talents that would emerge from the Access ART X Prize 2023. The Group Managing Director of Access Holdings, Mr. Herbert Wigwe, described the grant as a beacon of support for emerging African artists. According to Wigwe, “Access Holdings is proud to, once again, champion the Access ART X Prize, a beacon of support for emerging African artists. “We believe in the transformative power of art to shape culture, foster diversity, drive meaningful change, and influence the global perception of our continent. “The Access ART X Prize is,

however, not just about recognising talent; it is about empowering the next generation of African artists to tell their stories and inspire the world. “Through this initiative, we reaffirm our commitment to nurturing creativity and driving the growth of the African art industry, fostering a brighter, more inclusive future for all.” Also, the Founder and CEO of ART X Collective, Ms. Tokini Peterside-Schwebig, said: “We are proud of our contribution to the visual art landscape across Nigeria, Africa and the Diaspora, over the past seven years, and remain steadfast in our commitment to propel our artists forward, to live out their potential as narrative change makers for our continent and for its culture.

“Through the creation and production of initiatives such as the Access ART X Prize, and our flagship art fair, ART X Lagos, our organisation seeks consistently to champion the redefinition of the narrative about our continent, and its people.” Their views were contained in a joint statement titled, “Access Holdings, Art X Collective to Inspire Africa’s Emerging Talent with the Access Art X Prize 2023,”which was signed by Access Holdings and ART X Collective. The statement stated that applications for the Access Art X Prize commenced online on September 20, 2023, and closes today, Wednesday, October 18. It added that “through the 2023 edition, ART X Collective and Access Holdings will be empowering

emerging artists by selecting two outstanding talents, each receiving a healthy $10,000 grant towards an exhibition at ART X Lagos 2024. “Aimed at fostering creativity and elevating emerging talent across Africa, the transformative opportunity will see the Nigerian winner embark on a three-month residency at Gasworks, London, while the African/Diasporan winner will participate in a three-month residency at Yinka Shonibare’s GAS Foundation in Lagos. “Both recipients will also receive personalised mentorship support, a hallmark of the partners’ shared commitment to nurturing artistic growth, and providing an invaluable opportunity for cultural exchange.” The statement noted that since its inception in 2016, the Access ART

X Prize has illuminated the paths of early career artists, providing them with diverse opportunities to showcase their talents. “In a watershed moment last year, the Access ART X Prize transcended its Nigerian roots and expanded its horizons to encompass early-career artists from across the African continent and its diaspora. "This groundbreaking move was inspired by a profound dedication to fostering inclusivity and diversity within the African art scene as well as facilitating cross-cultural exchange. “The result was a celebration of remarkable talent, with the 2022 Access ART X Prize proudly awarded to two exceptional talents: Dafe Oboro (Nigerian Prize-winner) and Belinda Kazeem-Kamiski (Africa/ Diaspora Prize-winner).”

wednesday OCTOber 18, 2023 • T H i s d ay

NEWS

IN SUPPORT OF EDO STATE FILM FESTIVAL…

L-R: Festival Director, Edo State International Film Festival, Violet Okosun; Chairman, Victor Aghahowa; Governor, Edo State, Godwin Obaseki; Festival Ambassador, Victoria Idahosa; Jury Member, Jay Jituboh, and CoChairman, Ukinebo Dare, at the industry mixer event for the Edo State film festival 2023 in Lagos…recently

Gombe Gov Visits NSCDC, Harps on Review of Strategies to Combat Crimes Michael Olugbode in Abuja and Segun Awofadeji in Gombe

Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya yesterday paid a working visit to the headquarters of the Nigeria Security and Civil Defence Corps,( NSCDC) in Abuja where he met with the Commandant General, Dr. Ahmed Abubakar Audi and the top echelon of

the Corps. During the meeting Governor Yahaya, who is also the Chairman of the Northern Governors’ Forum, brought to the fore, the security challenges facing Gombe State and the Northern Nigeria as a whole with a view to finding sustainable solutions. He sought for enhanced collaboration between state governments and security

NUPRC Approves RusselSmith’s 3D Solutions for Oil Industry

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recently granted RusselSmith approval to deploy its industrial non-metallic additive manufacturing solution in the Nigerian oil and gas industry. Delivered in partnership with Roboze, a renowned provider of Industrial 3D Printing systems, RusselSmith’s manufacturing solution is not only a response to prevailing supply chain challenges in the

region but is also intended to help advance manufacturing in Nigeria through technology innovation, digitising the supply chain by leveraging additive manufacturing technology to optimise production processes. Speaking on the approval, Chief Executive Officer (CEO), RusselSmith, Kayode Adeleke said: “This is a new milestone in the Nigerian energy sector, and we are excited to be leading the charge in industrial 3D manufacturing.”

Harcourt

headquarters in Port Harcourt. According to Ogbuku, the development is in alignment with the Sustainable Development Goals (SDGs). Ogbuku said: “Our target is that every community in the Niger Delta region will be powered by solar; which is renewable and a cheap form of energy. In addition to this, we shall create industrial clusters to be powered by solar which will help in improving the agricultural value chain.”

agencies like the NSCDC in addressing pressing security challenges and promoting socio-economic development, particularly in the agrarian region.

With security challenges looming large, the governor emphasised the necessity for innovative approaches to safeguard the nation, suggesting

urgent need for a comprehensive review of operational strategies to enhance the security landscape in Nigeria.In what can be described as a proactive move to protect

the well-being of his state’s agrarian economy, Governor Yahaya made a request for the presence of more Agro-Rangers during the harvest season.

Expert Blame Slow Growth of Insurance Sector on Low Premium Charges,Others Ebere Nwoji

Former Secretary General Africa Insurance Organisation (AIO), Ms Prisca Soares and other stakeholders in the industry, have blamed slow growth and development of Nigerian insurance sector on low premium rate and lack of collaboration among the

operators. Soares, who spoke as Chairperson at this year’s edition of the Claim Advocacy Conference organised by Carefirst Consult, said premium charged in Nigeria was too meager compared to what was applicable in other parts of the world and insisted that something needed to be

done about it. This year’s edition of the conference which has the theme ‘Understanding Insurance Beyond Claims Payment,’ emphasised the need for collaboration among insurance industry operators. Soares observed that a situation where some company gave so much as discounts to their clients

was one thing that was not allowing the industry to grow the way it should. “This is a suicidal tendency which we have to do something about. We really need to cooperate in this market so that there would be sustainability because if insurance goes down, everything else does,” she appealed.

Makinde Approves Promotion of 7,000 Civil Servants in Oyo while briefing journalists at the for the conduct of the promotion was necessitated by the twin

Kemi Olaitan in Ibadan

Governor Seyi Makinde of Oyo State, has approved the promotion of all civil and public servants whose promotions were due in 2022. The state Commissioner for Information and Orientation, Prince Dotun Oyelade, who made the disclosure yesterday,

end of the 7th Executive Council meeting, said the development, was consistent with government’s policy on workers’ welfare in the past four years. He said the administration of Governor Makinde conducted the 2017-2021 promotion exercises between 2017 and 2021, stating that the governor has given approval

of 7, 276 civil servants. The state Commissioner for Budget and Economic Planning, Prof. Musbau Babatunde, on his part, said the executive council approved the realignment of the 2023 supplementary budget which would be presented to the state House of Assembly for approval. According to him, the decision

economic policy of subsidy removal and the unification of exchange rate which led to some shifts in macro-economic fundamentals in the state in respect to inflation, exchange and interest rates, noting that the state government took into consideration certain projects that are going on which have overshot by inflation.

Dealers Seek Approval to Live, Do Business in Lokpanta Market in Abia NDDC to Install Solar Power to Cattle The Chairman of the cattle non-residential following the been told that the market Emmanuel Ugwu-Nwogo in market, Alhaji Saleh Algare, made infiltration of the market by “will no longer be a residential Umuahia Combat Climate Crisis in N’Delta the passionate appeal yesterday criminals who hide in there to market.” Credit at the commission’s Blessing Ibunge in Port The Niger Delta Development Commission (NDDC), has revealed plans to invest in solar power, so as to address climate change issues in the Niger Delta region. The Managing Director of NDDC, Dr. Samuel Ogbuku, announced this yesterday when he received delegates from the Asteven International Company, who made a presentation on Renewable Energy and Carbon

Cattle dealers plying their trade at the popular Lokpanta cattle market have appealed to the Abia State government to allow them live and do their businesses inside the market.

in a chat with journalists at the market located in Umunneochi Local Government. His appeal was informed by the decision of Abia government to make the cattle market

perpetrate their evils. The Special Adviser to the Abia Governor on Security, Navy Commander MacDonald Uba (rtd) had told journalists that the cattle dealers had

“We will fence the market and everybody comes in the day to transact and leaves in the evening as done at Alaba International Market Lagos or Sabongari in Kano or Ariaria in Aba,” he said.

Ogun to Create Ministries of Energy, Mineral Resources, Digital Economy James Sowole in Abeokuta

The Ogun State Governor, Prince Dapo Abiodun, has said machinery was in place for the establishment of Ministries of Mineral Resources, Information Communication Technology

(ICT) and Digital Economy, and Energy. Abiodun disclosed this during a meeting with permanent secretaries held at the Executive Chambers of the Governor’s Office, Oke-Mosan, Abeokuta. The governor also disclosed

that the Ministry of Youths would be separated from the Ministry of Sports in preparation for the setting up of the Ogun State Sports Commission. He noted that the establishment of the new ministries would avail his

administration the opportunity to focus more on the development of those critical sectors. Abiodun said it is imperative to have full-fledged ministerial status for those sectors for the administration to achieve the objectives set forth in those areas.

In a desperate attempt to resolve the 60-year-old land tussle between Ado and Ilawe Ekiti, the Ekiti State government, yesterday

surveyors of the two feuding towns to shed light on how the matter will be tackled to avoid rancour and bad blood. The government said the action became imperative

documents that needed to be viewed with intellectual and mental expertise of these professionals representing the two disputing communities and their counterparts in the

The Ekiti State Deputy Governor, Chief (Mrs) Monisade Afuye, gave the directive in Ado Ekiti, yesterday while mediating in dispute.

Group Awards Scholarships Summons Surveyors, Lawyers to Resolve 60-Year-old Land Crisis to 150 Students in Edo Ekiti Gbenga Sodeinde in Ado Ekiti summoned the lawyers and following unraveling of public service.

Adibe Emenyonu in Benin City

A pan-Benin group, Cowrie 25, has commended the state Governor, Mr. Godwin Obaseki on the reforms his administration has introduced in the state particularly in education insisting that other states would be left behind in terms of development when the reforms begin to materialise. The Chairman of the group, Dr. Anthony Ogunbor, gave the commendation in Benin City, capital of the state yesterday when it awarded scholarships

to 150 students selected from various schools across the state which covers secondary school education. He disclosed that Cowrie 25 is a group of professional made up of Edo indigenes both home and in the Diaspora that have being in existence about 25 years ago with the mission to education in the state. According to him, “No matter what organisation, be it public or private, if you don’t have the right people running the system, it will fail.

Niger Decries Exodus of Students from Boarding Schools over Poor Feeding Laleye Dipo in Minna

The Niger State Government has decried the exodus of students from boarding schools across the state over poor feeding, blaming the situation on the diversion of

food meant for the students by some school administrators. The state Commissioner for Basic and Secondary Education, Dr. Hadiza Asabe Mohammed, who raised the alarm while launching a ‘New School

Feeding Scheme’ at the Maryam Babangida Girls Science College in Minna, said the government would no longer tolerate such act from any school head. The state runs over 40 boarding schools mostly for science and

female students. Mohammed warned principals of schools against the diversion of food supplied to their schools, saying a mechanism has been put in place to know those involved in the “illegal and immoral act.”

T H I S D AY • WEDNESDAY, OCTOBER 18, 2023

WEDNESdaysports

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Leaked Reports Award Ballon d’Or Title to Messi Leaked reports yesterday speculated that Lionel Messi who last December led Argentina to win the 2022 World Cup in Qatar has won the Ballon d’Or title for the eight time. Messi, 36, was reported to have pipped last year’s free scoring Manchester City striker, Erling Haaland, to the coveted football award. According to Spain’s medium, SPORT, the results for both the men and women’s awards to be presented at a ceremony in Paris on October 30 have already been leaked. SPORTS reported that both Messi and Barcelona midfielder, Aitana Bonmati, who helped Spain secure the Women’s World Cup title against England back in August in Australia, will be

handed the awards at the Chatelet Theatre in the French capital city. The former Barcelona and PSG man now at David Beckham’s Inter Miami is believed to have beaten tough competition from Haaland, who spearheaded Pep Guardiola’s treble-winning season with 52 goals across all competitions, as well as his former PSG teammate Kylian Mbappe, who scored a hat-trick in the World Cup final that Messi ultimately prevailed in. Speaking on the individual honour recently, Messi outlined how he has always prioritised trophies for the teams he represents, rather than individual accolades. “I have said it many times, the Ballon d’Or is very important due to the recognition at the individual level, but I never

gave it importance,” said Messi via UK’s The Mirror. “The most important thing for me was always the awards at the group level. I was lucky to

have achieved everything in my career and after the World Cup I’m thinking about that award much less, my biggest award was that. “If it (Ballon d’Or) arrives, good,

and if not, nothing happens. I was lucky to achieve all my goals in my career and now I have new goals with this club (Inter Miami in the MLS). ”

If Messi is ultimately crowned winner of the Ballon d’Or, it will be the first time a player has been awarded the title while playing outside of Europe

Crisis Rocks Lagos FA, Fouad Oki Suspended as Chairman Olu Osagie

The uneasy calm in the Lagos State Football Association (LSFA) since the election of Fouad Oki as the chairman of the oldest football body in the country snowballed into the removal of the former vice chairman of the All Progressives Congress (APC) in the state, yesterday. He was alleged to have been removed in a split 5-4 voting that took place in the boardroom of the Lagos FA secretariat on Ogunlana drive in Surulere. Oki was also alleged to have slapped his Vice Chairman, Olawale Gaffar, after the voting process that ousted him from office. The erstwhile Chairman was alleged to have committed among other things offences that violate the rules and regulations of Nigeria Football Federation (NFF). He was also accused of violating the NFF statues by not attending the NFF Congress with no excuse and without the knowledge of the LSFA Board. The APC stalwart in the state was also alleged to have changed the association’s logo without approval of the board and the congress. He unilaterally denied the Nigerian Premier League (NPFL) A1 Camera delegates access into the Mobolaji Johnson Arena to test-run their camera prior to the commencement of the 2023/24 league season.

An eye-witness account at the Lagos FA secretariat told THISDAY that after his suspension, Oki, who could not control his emotion descended on Gaffar, slapping and choked him in the neck. The timely intervention of another board member saved Gaffar from his grip. Even a television cameraman who tried to get the shots on tape was not spared as the ousted chairman punched the camera lense. Speaking with journalists after the drama, Gaffar said, “He (Oki) slapped me after his suspension and choked me and I had to wriggle free from him. The suspension was borne out of series of anomalies that have been going on and we’ve been talking in-house, advising him on how best to run football but does not listen to advice. “There are few things that came out recently that we did not discuss at the board level that he unilaterally release to the public. We had a meeting after that of which I made my opinion known and this was the next board meeting after that. We the board members sampled our opinions, came in this morning, formed a quorum and voted for his suspension,” observed Gaffar. All attempts to get Oki’s side of what led to his suspension proved abortive. He refused to speak with any reporter at the secretariat yesterday.

De Porters Maintain Lead in Group A Group A and B matches of the ongoing Epe Conference of the 1XBET Grassroots Football Championship resumed yesterday at the Odion Ighalo Sports Arena. In what was dubbed “Epe El-Classico”, De Porters FC and Odion Ighalo FC, gave good accounts of themselves in a Group A encounter. Neither side giving an inch to the other until the defence line of Odion Ighalo conceded an own-goal off a free-kick. The Ighalo boys handled by former Julius Berger Captain, Ambrose Duru, levelled up in the second half through a sublime strike by Yusuf Fawaz,. Both sides shared the spoils and move to four points respectively, with

1XBET CUP 2023 De Porters leading the group on superior goals advantage. In the second game of the group, Perkins FC defeated Panthers FC 2-0 to record their first win and three points in the group. And in Group B, Emperor FC defeated whipping boys of the group, Ambassador FC 2-0, while De Elite FC jumped to the top of the log on six points, after another 2-0 victory over B.E. Arena FC. Matches continue today in Match-day 3 fixtures at the same venue, as battles for the sole ticket of Epe Conference hit home stretch.

ENGLAND BOOK EURO 2024 TICKET…

England confirmed their qualification for Euro 2024 in Germany next summer after coming from behind to beat Italy 3-1 at Wembley inspired by another Jude Bellingham master-class. Gareth Southgate's side only needed a point to secure their place and it briefly looked like the celebrations may be delayed when former West Ham United striker Gianluca Scamacca gave Italy the lead from close range after 15 minutes. Bellingham was England's talisman once more as the 20-year-old Real Madrid star led the comeback, winning the penalty that brought Captain Harry Kane's equaliser. Kane scored his 60th goal for his country after Bellingham ran through and was fouled by Giovanni di Lorenzo after 32 minutes. And it was Bellingham's surging run and pass that set up Marcus Rashford to cut inside and beat Italy keeper Gianluigi Donnarumma just before the hour before Kane extinguished any hopes of an Italy recovery when he raced clear to score England's third with 13 minutes left.

Nigerians Dominate Valuejet ITTF Lagos Para Open Hosts, Nigeria carted all the medals at stake at the Valuejet ITTF Lagos Para Open to dominate India, Uganda, Benin Republic, South Africa, and Togo. The three-day tournament, which has now been sanctioned by ITTF as a Factor 20 World Ranking event, was concluded at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium at the weekend. Majority of the Paris 2024 Paralympics-bound athletes dominated their various events with Bolawa Akingbemisilu being the most successful athlete at the tournament. Akingbemisilu who is the African champion in class five, enjoyed success in the singles, while he partnered Egbinola Oluade to gold in men’s doubles class 4-8, and Chineye Obiora to

the top prize in mixed doubles class 10. Success in the men’s doubles also meant that Oluade departed with two titles, having won the men’s singles class 1-3. Likewise, it was two titles for Abiola Adesope and Temitore Adris; as Adesope partnered

the mixed doubles class 14-17 title. Success for Adesope meant he repeated his feat of the previous month when he had emerged successful at the ITTF Africa Para Championships in Egypt and had thus booked his place in the Paris 2024 Paralympic Games.

13 Teams to Battle for Glory in Betsy Obaseki Women Football Tourney Adibe Emenyonu in Benin City

Ahead of the third edition of the Betsy Obaseki Women Football Tournament (BOWFT) slated to commence on Monday, October 23rd, 2023 in Benin City, Edo

Customs, MFM, in Zenith Basketball League Flying Start

Nigerian Customs Women Basketball Club and MFM Women Basketball Club yesterday secured wins in their opening day games of the Zenith Bank Women's Basketball League Super 4 competition at the Indoor Sports Hall of the National Stadium, Surulere, Lagos. The first game of the day saw the Customs securing a hard-fought 3533 points victory against debutant, Bayelsa Blue Whales. The second game of the day

Aishat Raji to mixed doubles class 20 gold, having prevailed in men’s singles class 6-7. Rather differently, Temitope Idris proved the ideal partner. She joined forces with Precious Okafor to win women’s doubles class 14-20 and allied with Tajudeen Agunbiade to claim

between the two finalists of the last edition of the league, MFM and Air Warriors, saw the losing finalist, MFM, thrashing the defending champion, Air Warriors, 75-48points to avenge their last edition final defeat. The Super Four will continue today with the battle between conference winners and runners up with Nigerian Customs taking on Air Warriors while MFM faceoff with Bayelsa Whales.

BOWFT 2023 State, 13 female teams have been slated to battle for pre--season glory. The competition, with the theme, “End Gender-Based Violence,” is aimed at harnessing sporting talents in the state and will highlight the efforts made by the Governor Godwin Obaseki-led administration to end gender-based violence in the State. The Chairman, Communication Sub-Committee for the tournament, Crusoe Osagie, in a statement, said the tournament will be held in Benin between Monday, 23rd of October through Wednesday 1st of November, 2023. He listed the participating teams to include Edo Queens, Rivers Angels, Bayelsa Queens, Delta Queens, Robo FC, Naija Ratels, Nasarawa Amazons and

Osun Babes. Others include Confluence Queens, Fortress Ladies, Ekiti Babes, Remo Stars Ladies FC and Heartland Queens. According to Osagie, “Four venues have been scheduled to host this year’s tournament. These are the Samuel Ogbemudia Stadium, University of Benin Sports Complex, Western Boys High School mini stadium, Edo State College of Nursing and Health Sciences mini stadium and University of Benin Teaching Hospital. “Thirteen prestigious women's football clubs in the country have confirmed their attendance and participation. The teams will be arriving in Benin City on Sunday, October 22nd, 2023. All the required facilities have been put in place as the participating team will be received on arrival on the same day at the Samuel Ogbemudia Stadium.”

Wednesday, October 18, 2023

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MISSILE Chief Whip to the Senate President

” This is the Senate of the Federal Republic of Nigeria guided by laws, rules and procedures. If in the course of proceedings at any session, errors are observed, they must be corrected before forging ahead with such proceeding” --Chief Whip of the Senate, Senator Mohammed Ali Ndume, accusing Senate President Godswill Akpabio of breaching the rules.

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Primacy of Social Protection

esterday’s observances of the International Day for the Eradication of Poverty are relevant to the economic management of Nigeria at this time. “Decent Work and Social Protection: Putting Dignity in Practice for All,” this year’s theme, is germane in many respects to the agenda of the administration of President Bola Tinubu. The essence of the theme, according to the United Nations, is “to promote understanding and dialogue between people living in poverty and the wider society.” It was, therefore, fitting that the federal government elected to launch on the occasion its cash transfer programme. In the programme, the most vulnerable 15 million households will each be given N25, 000 monthly each for a period of three months. The integrity of the social register to be used for the implementation is a critical factor for the success of the much-criticised programme. Significantly, the World Bank has pledged to support the programme. In recent times the World Bank and International Monetary Fund (IMF) have been advocating greater social investments so as to strengthen the global economy. In what appears to be a change of tone from their positions some decades ago, the two institutions have been supporting social spending in education and health. The spending in these sectors is now regarded as wise investments in development terms. This point is worth stressing because the administration’s economic team seems enamoured of the prescriptions made by the Bretton Woods institutions. To be sure, in the light of Nigeria’s recent economic history social protection should not require a strenuous defence today because even in the heyday of the Structural Adjustment Programme (SAP), the social content of policy was not completely ignored in Nigeria. And that was not only at the level of rhetoric. So, if you like, `even SAP advocates in Nigeria made more than a mere allusion to some social protection in the design and the articulation of the strategy. To do otherwise in

President Tinubu this difficult socio-economic landscape in which poor households operate would be dangerously insensitive. After all, even the World Bank and IMF institutions have now joined the International Labour Organisation (ILO) in paying a greater attention to social spending for the ultimate aim of achieving social protection. And social protection is achievable only with a mix of policies conceived to reduce poverty and bridge the gap of inequality. Hence, the World Bank is supporting the stopgaps contained in the Nigeria’s poverty reduction programmes. Increased allocations for health and education in the budget could be a long-term antidote for the chronic malaise of poverty. The interventionist social investments are only immediate and temporary dosages needed by some of the victims of poverty in the acute

condition. Their poverty condition is the worst. Hence, a time frame is often set for the implementation. Yet, there is the urgent need to ponder the significance of the Conditional Cash Transfer (CCT) programme. Targeted at the most vulnerable in the society, the CCT could make a world of difference to the economy of a poor household, albeit temporarily, if honestly implemented. It is, perhaps, understandable while some relatively comfortable members of the elite cannot fathom the social significance of the N25, 000 monthly for a poor household. The point cannot be over-emphasised that the CCT could only be a marginal element of a well-structured social protection package. The policy of social protection needs proper articulation to convince its critics. And, maybe, the cynics too. A middle-class element, for whom the list of economic problems does not include lack of three square meals a day, can afford to dismiss the CCT as “a waste.” He may even begin to give us economic lectures on how the money could be better invested in some phantom productive sectors. There is, however, a reality that is often ignored by the likes of the person in this hypothetical case. He goes to his village only to be confronted by the pathetic story of his 75-year old aunt without socio-economic support whatsoever from anywhere. The poor woman has not eaten for two days before his arrival! For heaven’s sake, will this person reach for his purse to give this poor aunt even N2,500 or will he give her economic lectures on some “efficient productive investments”? The truth which no one is proclaiming is that what Nigeria lacks is only a systematised social security system. This is because virtually everyone of means is actually a one-man social security outfit. Most of the text messages some middle-class elements with incomes receive are pathetic stories of relations, friends and acquittances in need of some urgent financial support. A lot of the billions of dollars remitted by Nigerians in

Ehiedu E.G. Iweriebor

the Diaspora are actually meant to meet such needs that a well-established social security system should take care of ordinarily. An efficient social security is central to the overall achievement of social protection. In some remote areas, the CCT may be the first experience of the people feeling the impact of a government policy in such a direct manner. Some members of the elite contemptuously call the transfers handouts. Yes, in some situations the handouts could indeed be life-saving for some of the recipients. Models of implementation could be found in Brazil, India, Mexico, Bangladesh , Argentina, other places. For instance, the World Bank-assisted programmes in Honduras has reportedly reduced the poverty gap by 27% for thousands of beneficiaries. Similarly, the population of underweight children who are under five has been reduced by 26%. With the equivalent of about $225 dollars only transferred to each of the benefiting households in a year, access to basic education and healthcare was reported to have improved. The success of the Honduran experiment is such that a law has been made to back the policy of devoting 10% of a national trust fund to CCT. That’s why those in charge of policies today may have one or two lessons to learn from the failures and successes of the last 40 years. In particular, lessons should be learnt from the implementation of the social investment programme of the administration of former President Muhammadu Buhari. Besides, there should be a more inclusive deployment of technology to make the implementation more efficient. Special consideration should be given to those in the remote areas. Above all, the implementation should be foolproof. The officials should be wary of those who may like to corrupt the process even at the lowest point of implementation. The integrity of the process is the greatest asset the programme could have in the circumstance.

guest columnist

Dangote’s Industrial Pyramids D angote’s just completed and inaugurated Dangote Refinery and Petrochemical Company during and after construction has been variously described as follows: “As a rule, I don’t get worked up over oil refineries. But the one gradually taking form on 2,500 hectares of swampland outside Lagos … is so big, so audacious, and so potentially transformative that it is like Africa’s Moon Landing and its Panama Canal - a Pyramids of Giza for the Industrial age.” “If Aliko Dangote, … can pull it off, he will go down as the continent’s John D. Rockefeller, Andrew Carnegie and Andrew Mellon combined.” David Pilling, “Aliko Dangote, Africa’s richest man, on his ‘crazy’ $12bn project” Financial Times, July 11, 2018 “The plant will be a game changer for the Nigeran economy which is seriously gasping for breath. It will rewrite the story of our country and make every Nigerian proud…” Shaka Momodu, “Dangote Refinery: The Audacity to Dream” THISDAY, May 8, 2020 “As a Game Changer.” President Muhammed Buhari’s Speech May 22, 2023

In relation to the topic of this essay, ancient and medieval Africans created different great architectural and engineering marvels but among them the Pyramids of Egypt are the most recognized structures and adjudged as the globally significant engineering masterpiece of them all in terms of their complexity, dimension, size and height etc. Dangote’s Refinery’s Crude Distillation Column (CDC) equipment is nearly as tall as the Giza Pyramid of ancient Egypt. Like that Pyramid, Dangote’s Pyramid of Industrial Production SPIRALS and SOARS high skywards to distill and produce high quality products for Nigerian, African and world markets. Hence the title of this essay “Pyramid” is prefaced with “Industrial Production” to speak to the different Age and intention of these monumental projects. This is a project of the modern Industrial Age in which large factories are built for mass production of goods for large-scale or mass societies. In the same way, Dangote’s African Pyramid of Industrial Production is geared to creating an Africa with the capacities for mass production, mass prosperity, mass power and mass pride and the restoration of African Dignity. BACKGROUND The Ancient African Technologi-

cal Advancement and Cultural Power The Dangote refinery, fertilizer, and Petrochemical Complex represents a contemporary example of ancient and medieval monuments and structures which Ancient Africans created and built in Egypt Kush and Axum. These were the ancient architectural and engineering master pieces and wonderful projects like pyramids, obelisks, tombs, palaces, exquisite art works; etc. In medieval times, Africans created similar major cultural art works of Kongo, Makonde, Ile Ife, Benin etc, and architectural and engineering monumental complexes like the Zimbabwe project, the walled city of Birnin Zaria, Birnin Kano, Birnin Ngazaragamu, and Benin moats and walls and the Ijebu walls, Mali irrigation projects etc. These developments indicate African mastery of technological capacity, scientific knowledge and construction capabilities with which to build these monuments, irrigation and other military, economic, and cultural projects. All these projects attest to the technological capacities of the ancient and medieval Africans with the confidence to conceive and undertake these monumental architectural, economic and engineering projects. In general, the ability to conceive and undertake

such these monumental projects implies the existence of leaderships and elites with powerful ambitions and vast visions for greatness and the creation of sophisticated societies and advanced states to undertake these enduring and global significant projects reflecting the outlook of ancient Africans’ self-conception as powerful and technologically equipped societies. At the same time, to undertake these vast and monumental projects entails the existence of: State Power; State Organizational and Mobilizational capacities; Educational system for the production of highly educated experts as well as vast skilled human resources; Scientific Power; Technology Power and other enabling capacities and resources. These resources and vast state ambitions signify aspirations to global power, and societal power and dignity. These are the capabilities and resources which ancient and medieval Africans, leaders and state created to achieve their ambitious objectives. * Professor Ehiedu E.G. Iweriebor is the Chief Executive of Free Africa Research Associates (FARA). Continued online

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