CBN: No Retirement Date for Old Naira Banknotes, Remain Legal Tender Indefinitely
As House asks apex bank to phase out old currency notes, says banks should cease to pay customers with old denominations, donates N100m to victims of Jigawa tanker explosion
L- R: President, World Bank Group, Mr. Ajay Banga; Minister for Development and Women & Equalities, United Kingdom, Anneliese Dodds; and Minister of Finance and Coordinating Minister of Economy of Nigeria, Mr. Wale Edun, during the flagship event to explore how boosting women's economic opportunities can transform our world at the ongoing IMF/World Bank's Annual Meetings 2024 in Washington DC, United States of America…yesterday
Shettima Cancels CHOGM Trip as Plane’s Windshield is Damaged at JFK Airport in NY
President Kashim
trip to Samoa to represent Nigeria at the 2024 Commonwealth Heads
Continued on page 5
Lokpobiri: FG Targets Doubling of 37bn Barrels Oil Reserves with Improved Exploration
eight persons on-board helicopter enroute NNPC oil facility dead Tinubu urges military to join search, rescue mission NSIB launches investigation as minister mourns
Disorder 1 (2024) by Kaleab Abate. Courtesy of Afriart Gallery
Wale Edun: World Bank Support Critical for Empowering Nigerian Women-led Businesses
Bank unfolds measures to improve economic opportunities for women
Eromosele Abiodun and Nume Ekeghe in Washington DC Minister of Finance, and Coordinating Minister of the Economy, Wale Edun, yesterday, emphasised the pivotal role of the World Bank in supporting Nigeria's ongoing efforts to empower women.
According to Edun, strategic interventions in female entrepreneurship and education would foster both social justice and economic growth.
Speaking at the flagship event, ‘Women Transforming the World’ at the ongoing International Monetary Fund (IMF) and World Bank annual meetings in Washington, Edun
reiterated the need for greater progress in improving the lives of women.
Edun said: “If we empower our female population and give them the same access that we have given our men, society will be better off for it. And I think that goes without saying.
“In Nigeria, we have been deliberate, we have a national action plan for the economic empowerment of women. It was launched a year or two ago by the President. But what it points to is that it is a deliberate commitment, and it puts women in what we call women affinity groups, essentially self-help groups.
“And within those groups are
about 22,000 women. They learn, train, get funding, education, assistance and of course strengthen themselves.
“Of course, they now become a focal point at which the likes of donors and government can access them.”
“Thanks very much again, Ajay, it is World Bank supported, and what it does is that it helps those groups to stay in education, to stay within the formal purview of education, training, support, and funding for those who want to become entrepreneurs, skills development for others.”
Edun, outlined the economic imperative of empowering Nigeria’s female population, which accounts
LOKPOBIRI: FG TARGETS DOUBLING OF 37BN BARRELS
The federal government yesterday said that for over 12 years Nigeria had not done much oil exploration, but noted that with the increasing activities in the sector, the country should be doubling its crude reserves, especially with the floating of the Frontier Exploration Fund (FEF).
This information was disclosed just as all eight persons aboard a helicopter hired by the Nigerian National Petroleum Company Limited (NNPC), which was enroute one of its oil platforms in the Niger Delta died a crash yesterday.
Speaking in Abuja during a visit by the Governor of Kogi State, Usman Ododo, the Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri reiterated that the nation was targeting 2 million barrels per day by the end of this year.
“For the past few years, Nigeria hasn't actually done much of exploration and that is why our reserves are low-grade. Our reserves are about 37 billion barrels. But our reserves should be at least two times of that.
“The reason is that all our neighbours that didn't have oil, when our reserves were at 30 billion barrels something, have found oil. So there's no way we will not find more oil, like we have found in Kogi and in other parts of Nigeria. The reason why we haven't been able to update our records is because not much exploration was done in the last 12 years.
“But for the PIA, there was no money available that government can use to do these seismic exploratory activities that will enable us to increase our reserves, not only in crude oil, but also in gas. And so I want to assure you that there's funding that's available for that purpose, and government is committed to ensuring that we do that for the overall strategic national interest of Nigeria,” he stated.
Stressing that the federal government cannot do it alone, Lokpobiri stated that the pace of progress as far as exploration activities are concerned in Kogi was slowed down because of the state of the economy.
He also highlighted the need to tackle the security issues, explaining that there was also the need to partner with the government of Kogi State so that the Frontier Exploration Fund can be deployed for the requisite exploration where there could be a lot of seismic work, to find more fields in Kogi.
“This is so that Kogi can also play big with the League of States that are earning fat from derivation. And so we, as a government, are committing to working very closely with the government of Kogi State to achieve this. I'm going to come to Kogi State any time the government has enough time to invite us,” the minister added.
He said harnessing the country’s oil and gas resources remains the easiest way to come out of the economic woes it is currently experiencing, adding that it has become necessary for Nigeria to increase its oil production as the world moves towards jettisoning fossil fuels.
In his remarks, the Kogi state governor, Ododo, who came along with his team comprising the state’s Finance Commissioner, Idris Ashiru, noted that he was in Abuja to meet the minister to expedite action on harnessing some of the mineral resources in the state.
“Kogi State is a baby state that is so blessed with so many natural gifts and in abundant quantity. Hence, we have it, we have been boasting, we have been publishing, we have been talking about it.
“But it has never been working for us as a state and the entire nation. We need your support. We need your guidance. We want to unlock our potential to make sure the natural gifts gifted out by God Almighty start working for us during your own time,” he stressed.
Also speaking, the Finance Commissioner, Ashiru, said that the governor had taken it upon himself by ensuring that a lot of investment was made towards securing the people of the state, its resources, and the investors.
“One of the minerals that God gave Kogi State is the Anambra Basin. And we need to tap into it for us to actually achieve the plan. The people of Kogi State believe that for this plan to work, we need to
SHETTIMA CANCELS CHOGM TRIP AS PLANE’S WINDSHIELD IS DAMAGED AT JFK AIRPORT IN NY
Of Government Summit has been cancelled after a foreign object hit his plane during a stopover at JFK Airport in New York, the United States.
According to a release issued yesterday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the foreign object damaged the cockpit windscreen of the plane.
President Tinubu, acting promptly, has approved a ministerial delegation to represent Nigeria at the summit in the
Samoa capital of Apia while the plane's repair has commenced.
The delegation, which will now represent Nigeria at the 2024 Commonwealth Heads Of Government Meeting (CHOGM) in Samoa, is being led by the Minister of Environment, Balarabe Abass Lawal.
The summit began on the Pacific island on 21 October and will end on 26 October.
Vice President Shettima and Foreign Minister, Yusuf Tuggar have left New York for Nigeria.
for 49 per cent of the country’s citizens, stressing the importance of equal opportunity for women to fully contribute to the nation's development
He said: “In Nigeria, 49 per cent of the population are women. And so, apart from the social justice aspect, just the pure economics of it, if you have a plane and it has two engines, and you decide to fly on one engine, compare that with if you decide to give both engines a chance, you will go farther and faster, you will go higher, you will go better. And it's as simple as that.”
Edun revealed that Nigeria’s $600 million digital and creative enterprise sector initiative targets youths aged
explore all areas.
"The road infrastructure is very key to achieve development and that we have been doing that. Within the shortest time, the governor will invite you to commission some of the roads we have completed. We know and we are aware that the NUPRC has a lot to do to develop the frontier basin.
“There are funds to develop it. We are happy with our colleagues in the South, when they are going home with tons of money, while we go home with little. We are happy with them, but we hope to join them.
“So if you call us an oil producing state, yes, we are an oil producing state, but are we producing? No. Because then, it was insecurity. But we have fought and we have ensured there is peace in the area.
“That is the major one that you need to help us. Some people believe we earn 30 per cent . It's not monthly. We only received it once, and that was 7.8 million. But as a government, we have to be proud that we are also oil producing. But nothing is coming,” he lamented.
On the air accident, President Bola Tinubu has directed an intensification of search and rescue for passengers of the ill-fated helicopter that crashed into the Atlantic Ocean, near Bonny Finima, in Rivers State, yesterday.
Tinubu, in a release by his adviser on information and strategy, Bayo Onanuga, urged military officers involved in various operations in the zone to join the search and rescue mission, and provide all necessary support to the Nigerian Safety Investigation Bureau (NSIB), Nigerian Civil Aviation Authority (NCAA), and other relevant agencies.
The president condoled with the board and staff of Nigerian National Petroleum Company (NNPC) and the families of all those who were confirmed to have passed on in the accident.
Eight persons, including two crew members (pilots) and six passengers, were confirmed dead as a helicopter on oil and gas shuttle service crashed off the coast of Calabar, Cross River State.
The six passengers were identified as Tamunoemi Soko; Alu Lawrence; Etim Emmanuel; Kenneth Chikwem; Frank Oriamre and Borris Ndorbo.
The helicopter, which was hired by NNPC, took off from Arik Air hangar at the Nigerian Air Force (NAF) Base, Port Harcourt.
The tragic accident took place about 11:22am yesterday involved a Sikorsky SK76 helicopter with registration 5NBQG, and operated by East Wind Aviation. It was flying from Port Harcourt Military Base (DNPM) to the NUIM ANTAN oil rig when it crashed.
A statement by Head Press and Public Relations at the Ministry of Aviation and Aerospace Development, Odutayo Oluseyi, indicated that the chopper ditched into the waters near Bonny Finima in the Atlantic Ocean.
Throwing more light on the accident, NSIB) said it had commenced investigation into the accident.
NSIB confirmed that the helicopter went down into the Atlantic Ocean near Bonny Finima, off the coast of Calabar, during a routine flight on Thursday, October 24, approximately 11:22am local time.
In a statement signed by Director, Public Affairs and Family Assistance, NSIB, Mrs. Bimbo Oladeji, the agency explained that the aircraft was en route from the Port Harcourt Military Base (DNPM) to the Antan Offshore Facility, when it lost contact with air traffic controllers around 10:52am.
The agency said, “Operating under Visual Flight Rules (VFR), the helicopter did not transmit an Emergency Locator Transmitter (ELT) signal, prompting authorities to manually plot the accident's location to expedite search and rescue efforts.
“Search and rescue operations were activated immediately, with the NSIB collaborating closely with the National Emergency Management Agency (NEMA), the Nigerian Civil Aviation Authority (NCAA), the Nigerian Armed Forces and other relevant agencies.”
Director-General of NSIB, Captain
The House further urged the apex bank to order commercial banks to immediately stop cash payment to their customers with old N200, N500 and N1,000 notes as well as engage in gradual mopping up of the old notes.
The resolution of the lower chamber, which was moved at plenary by Hon. Afam Ogene, followed the adoption of a motion of urgent national importance on the need for CBN to sensitise Nigerians about the non-legal tender status of old naira notes from January 1, 2025. Ogene expressed worry that the CBN had not shown any sign of sensitisation or kick-started any awareness programme to remind Nigerians about this important economic policy in order to make them prepare for the deadline of December 31, 2024.
However, the CBN in a statement issued by its acting Director, Corporate
15 to 35, with 30 per cent of the funding earmarked for women. The program provides startup capital, technology training, and skills development to support aspiring female entrepreneurs in the digital space. He added: “We also in the digital space, the all-important digital space that, as we know, can be so empowering. We have around $600 million of funding going into the digital program called the digital and creative enterprise sector, and it's aimed at 15 to 35-year-old population, so from those still at school that are trying to be entrepreneurs, on the way to the age of 35 and around 30 per cent
Alex Badeh Jr., stated, "Our thoughts and prayers are with the families affected by this tragic incident. We are fully committed to uncovering the circumstances surrounding this accident.
“We will work diligently to ensure that all necessary information is collected. The public must avoid speculation during this sensitive time, as our focus is on providing clarity and accountability through our investigation."
NSIB said it was actively preparing to dispatch a go-team to the scene to gather evidence and conduct a comprehensive analysis. It said a preliminary report would be issued in due course to provide updates on the investigation's progress.
NNPC confirmed that it hired the crashed helicopter.
The national oil company, in a brief statement by its spokesman, Olufemi Soneye, said the helicopter was en route one of its oil facilities in the Niger Delta after taking off from Port Harcourt.
However, sources with the knowledge of what transpired told THISDAY that all the victims of the accident were NNPC contract staff.
NNPC said, in the statement, “On the 24th of October 2024, about 11:22am, we lost contact with the helicopter – Register Number: 5NBQG, engaged by NNPC Limited, that took off from Port Harcourt NAF Base en route the FPSO – NUIMS Antan. The helicopter was operated by East Winds Aviation.
“There were eight persons on board (six passengers and two crew members). The appropriate authorities have been contacted, including the Ministry of Aviation, which have since issued a press statement.”
National Association of Aircraft Pilots and Engineers (NAAPE) expressed sadness over the tragic death of its members, the two pilots, and other souls on board the chopper.
NAAPE said, in a statement by its National President, Abednego Galadima, that the captain, Dukas, had 20 years flying experience. It reiterated the need for safe operating
is the amount for young women. “It helps them with startup capital, it helps them with technology training and it helps them with general skills development.” Meanwhile, the World Bank Group yesterday, took steps toward implementing Gender Strategy 2030, announcing a set of actions and concrete goals that aim to boost economic opportunities for more women.
conditions and called on government and relevant aviation agencies to always target zero accident operating environment.
The statement said: “The National Association of Aircraft Pilots and Engineers has received with great sadness, the news of the helicopter crash off shore today 24th October, 2024.
“More saddening is that the captain on board, Capt Yakubu Dukas, is a seasoned helicopter pilot with more than 20 years flying experience and until this unfortunate accident, was the vice president of our great union.
“We have always maintained that the operating conditions in the aviation industry must always be optimal for all professionals for the safety of all, knowing that there is no parking space up there.
“We call on the government and all stakeholders to always ensure that in all their operations, they target zero for accidents because of the catastrophic nature of air crashes.
“We also call on all relevant agencies to ensure no stone is left unturned in unearthing the immediate and remote causes of this tragic occurrence and all the measures required to be put in place to forestall any further occurrence.
“Our prayers are with all families whose beloved ones were on board.” Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, expressed sadness over the incident.
A statement by the minister’s spokesperson, Nneamaka Okafor, said Lokpobiri expressed his condolences to the families of those affected.
It said, "Our thoughts and prayers are with the passengers, crew members, and their loved ones during this incredibly difficult time. We share in the grief and pain of the families, and we stand in solidarity with them as the search and rescue efforts continue."
The minister stated that the ministry will continue to support NNPC as it monitored and managed the situation.
Communications Department, Mrs. Sidi-Ali, Hakama, said such claims by the House are “false and calculated to disrupt the country’s payment system”.
For the avoidance of doubt, the CBN maintained that the order of the Supreme Court on Wednesday, November 29, 2023, which granted the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, remains in force.
Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks (DMBs) remains in force.
Hakama further pointed out that the central bank’s earlier directive to all its branches to continue to issue and accept all denominations of Nigerian
banknotes, old and re-designed, to and from deposit money banks (DMBs) was still in effect.
The Supreme Court had ordered that the old series of N200, N500, and N1,000 banknotes shall continue to be legal tender alongside the redesigned versions.
Accordingly, all banknotes issued by the CBN will continue to remain legal tender indefinitely, the statement added.
Hakama said, “We, therefore, advise members of the public to disregard suggestions that the said series of banknotes will cease to be legal tender on December 31, 2024.
“We urge Nigerians to continue to accept all Naira banknotes (old or redesigned) for their day-to-day transactions and handle them with the utmost care to safeguard and
protect their lifecycle.
“Furthermore, the general public is encouraged to embrace alternative modes of payment, e-channels, in order to reduce pressure on the use of physical cash.”
On November 14, 2023, the CBN announced the extension of the legal tender status of the old N200, N500, and N1, 000 denominations beyond the December 31, 2023 deadline - and with no definite time frame for their retirement.
The bank noted that the decision was in line with global best practices and to “forestall a repeat of earlier experiences”.
The central bank stated, “Thus, all banknotes issued by the Central Bank of Nigeria (CBN), in accordance with
Deji Elumoye, Emmanuel Addeh in Abuja and Chinedu Eze, Peter Uzoho in Lagos
Edun
OPENING CEREMONY OF 2024 MINISTERIAL LEADERSHIP RETREAT...
L-R: Former Minister of state for Health and newly nominated Minister of Education, Dr. Tunji Alausa; Deputy Governor Bauchi State, Honourable Muhammad Auwal Jatau; Coordinating Minister for Health & Social Welfare, Professor Muhammad Ali Pate; and Permanent Secretary, Federal Ministry of Health & Social Welfare, Kachollom Daju, during the Opening Ceremony of 2024 Ministerial Leadership Retreat on Performance Management Systems in Bauchi State... recently
NERC Grills TCN over Incessant Grid Collapse, Questions Company’s Management of Transmission Network
TCN blames aging infrastructure, vandalism, others for grid failures Gencos say 162 cases recorded since 2013
Emmanuel Addeh in Abuja
The Nigerian Electricity Regulatory Commission (NERC) yesterday questioned the Transmission Company of Nigeria (TCN) over the frequent collapse of the nation’s electricity grid, raising posers over the company’s management of the power transmission network.
The commission, in a public
hearing held at its headquarters in Abuja, said it considers what has been happening in the past weeks, worrying and of significant public interest, describing it as embarrassing.
At the event attended by stakeholders in the sector, including Generation Companies (Gencos); Distribution Companies (Discos); professional bodies; experts; Civil Society Organisations (CSOs), and
members of the general public, the Chairman of NERC, Sanusi Garba, said the consultation was meant to get to the root of the problem.
Sanusi and his team of NERC commissioners who interrogated the Managing Director of the TCN, Dr Sule Abdulaziz, said that although grid collapse was not new, it was important to put a stop to it in the interest of the people and economy
of Nigeria.
“We are here again and the commission's intention is to truly give guidance towards finding a final solution to what is a very embarrassing moment for the country. In short, we have heard this story that infrastructure is old, fragile, low generation, free governor control, all these high-tech stories that we seem to repeat over and over again
AFC: Interest Groups Selling Generators, Diesel Against Electricity Supply in Nigeria
Dike Onwuamaeze
The African Finance Corporation (AFC) has declared that there are interest groups that prefer the importation and sales of generators and diesel than allowing Nigeria to supply adequate electricity to its citizens and businesses in the country. This declaration was made yesterday in Lagos by the President/ Chief Executive Officer of AFC, Mr. Samaila Zubairu, who delivered the Manufacturers Association of Nigeria’s (MAN) “4th Adeola Odutola Lecture/ President Luncheon” themed: “An Intentional Development of the
Nigerian Manufacturing Sector.” Zubairu, represented by the Executive Director/Chief Investment Officer of AFC, Mr. Sameh Shenouda, identified the Nigerian power sector as one of the most challenging sectors in the country and wondered how 240 million people would have only 4000-megawatt electricity supply from their country’s national grid.
He said: “I am going to be honest with you. There are interest groups that prefer to sell generators and diesel than for the country to have electricity supply. You have to be honest about the problem so that you can tackle it.”
He also called for the total restructuring and reform of the country’s power sector before it could attract investments for its development, noting that the attempt to restructure the distribution companies few years back has not done very well.
The AFC stated clearly that it would not channel finances to the power sector until a lot of work is done in that sector by the government.
Zubairu said.: “I think we will be happy to invest in the power sector. But there is a lot of work to be done by the government before it would attract a lot of investments.
“Collection is problem. Power theft is a problem. However, if there is an opportunity to build a power plant that sells directly to the private sector and does not go through the Independent Power Project’s (IPP) structure, the AFC will be happy to look into it.
“But to build a large-scale infrastructure power plant in Nigeria before the sector is reformed is a big risk that we cannot support.
“What we will be happy to do is to participate with government and anyone that is interested in sharing ideas and experiences in restructuring the sector first.”
Wife of the President, Senator Oluremi Tinubu, on Thursday donated N40 million, as well as various food items to victims of the recent tanker explosion incident in Majiya village of Jigawa State. The donation was presented on the First Lady's behalf by a delegation led by wife of the Speaker if the House of Representatives, Hajia Fatima
Tajudeen Abbas at the Government House, Dutse.
Handing over the cheque and food items to the wife of the State Governor, Hadiza Umar Namadi, Mrs Tinubu, according to a release issued by her Media Assistant, Busola Kukoyi, said the plight of the victims is of great concern to her, and assured the state government of her continued support and prayers.
Receiving the commiseration and
donations from the First Lady with thanks, Governor of Jigawa State, Mallam Umar Namadi assured the delegation that the donation would be judiciously deployed to cater for the victims.
Also appreciating the President for his prompt and fatherly response to the disaster in the state, the Governor disclosed that some of the victims are already getting better under medical care.
While noting that the tanker explosion was a sad episode for the state, wife of the governor described the visit and donation by the First Lady as a show of motherly love, unity and solidarity.
The delegation was earlier at the Rasheed Shekoni Federal University Teaching Hospital, Dutse, to sympathise with some of the victims who are currently receiving medical attention.
about finding a solution.
“The reality is that what is truly happening with the national grid is impacting on the viability of not only the Gencos that generate the energy and capacity but also the distribution companies. But most importantly, it's also impacting on the quality of supply to customers,” he said.
According to the NERC chairman, manufacturing in Nigeria has also continued to suffer, following the inability of the value chain to deliver the right quality of supply to the real sector.
“There have been increases in stability of generation in the recent past arising from some of the actions taken from the policy side and the regulatory side. But to the extent
that the whole nation suffers this kind of instability of the national grid is not something that we can gloss over.
“And that's the underlying reason why the commission escalated this to all stakeholders. We'll interrogate. But most importantly, we want to listen to those who have been there before. Those who have run the grid, not only in Nigeria but also in other jurisdictions,” Sanusi said.
In his presentation, the TCN’s Managing Director, Abdulaziz, who was represented by the Executive Director, Independent System Operator (ISO), Nafisat Ali, said in the last instance, a total load of 675mw grid power was lost, causing instability and eventually leading to a partial collapse.
FEC Approves CEDF, Intellectual Property Monetisation Pilot
Olawale Ajimotokan in Abuja
The Federal Executive Council (FEC) has approved the establishment of the Creative Economy Development Fund (CEDF) and the implementation of the Intellectual Property (IP) Monetisation Pilot.
FEC granted the approval on Wednesday at the a meeting chaired by President Bola Ahmed Tinubu, following a memo presented to the Council by Minister of Art, Culture and the Creative Economy, Hannatu Musa Musawa.
The objective of CEDF is to provide funding to creatives through various financial instruments.
In the memo, Musawa stated that the ministry had collaborated with the Ministries of Justice, Finance, Industry, Trade and Investment, as well as the Federal Inland Revenue Service and the Nigerian Copyright Commission to ensure the success of the establishment of the CEDF and the implementation of the IP Monetisation Pilot.
"The CEDF marks a significant milestone in Nigeria's creative industry. The ministry aims to empower young people by creating opportunities that leverage their
innate creative talents and equip them with the tools to earn a quality living.
“The CEDF, as a Special Purpose Vehicle (SPV), will provide funding to creatives through various financial instruments, including debt, quasiequity, and equity. The fund will also develop a transformative model for the securitization and collateralization of IP assets, enabling Nigerian creatives to leverage their IP as viable assets for securing financing. The CEDF aims to democratize access to finance by lowering access barriers and offering innovative solutions not reliant on traditional collateral.
“The IP Monetisation Pilot, developed in collaboration with the African Development Bank (AfDB) through its Investment in Digital and Creative Enterprise (iDICE) programme, will provide valuable insights and practical experience to inform the development of a comprehensive National IP Monetisation Framework. This framework will be integrated into the National IP Policy. We are committed to empowering young creatives, promoting national identity and driving economic growth,” Musawa said.
Deji Elumoye in Abuja
11TH EDITION OF THE NIGERIA ENERGY EXHIBITION AND CONFERENCE...
L-R: Commissioner, Lagos State Ministry of Energy and Mineral Resources,Mr. Biodun Ogunleye; President and Group CEO, Transcorp, Dr. Owen Omogiafo; Minister for Power, Adebayo Adelabu; Exhibition Director, Energy Portfolio , MEA, Informa Markets, Ade Yesufu; Chairman and CEO, Genesis Energy Group, Akinwole Omoboriowo II; and Joint Group President, SkipperSeil Limited, Poonam Sachdeva, at the first day Leadership Summit of the 11th edition of the Nigeria Energy Exhibition and Conference in Lagos ... recently
Tinubu: Neglect of Livestock Has Weighed Heavily
on Our Import Bills
Laments Nigeria spends whopping $1.5bn annually to bring in dairy foods
President Bola Tinubu lamented the long neglect of the livestock sector, which he claimed had weighed heavily on Nigeria's import bill, with milk and dairy products accounting for between $1.2 billion and $1.5 billion annually.
But Tinubu expressed delight that foreign investors were ready to take advantage of the country's huge potentials in the livestock sector.
The president spoke at the opening of a two-day Stakeholders Consultative Workshop on Livestock Reforms, held at the Banquet Hall of State House, Abuja. He reassured the public that past mistakes, such as neglecting livestock farming and relying on dairy imports, would be avoided.
He pledged a robust framework to stimulate prosperity in the sector.
Tinubu stated, "The long-term neglect of the livestock sector has weighed heavily on the country's import bills, with milk and dairy products accounting for $1.2-1.5 billion.
"Yes, we can do it. We can bring prosperity to our people. We can feed our children. From grass, we can achieve
grace. We can contribute so much to the Gross Domestic Product (GDP) and provide decent jobs.”
He also assured that his administration would create the enabling environment for business to thrive.
He said, "I’m delighted to join you at this consultative workshop, dedicated to one of the most critical aspects of our nation’s development.
"The livestock sector is a very important sector; we’re going to give it all it needs to bring value to our country. Stakeholders, I stand here assuring you that you will not regret the collaboration and the investment coming into this sector.
"It is about time that we did it right.
A country of over 200 million people and cannot serve our children one pint of milk in the classroom per day? We didn’t see the investment opportunities, we didn’t see the economy in the past. Now, we’ve seen it, we must work together to realise the dream.
"Our shared mission is clear: we aim to transform the livestock sector from its current subsistence model into a thriving, commercialised industry, an industry that significantly contributes to
First Bank of Nigeria (FBN) yesterday dismissed a report that it was planning a system upgrade that would see the disruption of normal services to its customers for about 10 days.
In a brief statement by the bank, it stated that its message was sent to its vendors only and was about a platform for managing its numerous suppliers and had nothings to do with the bank’s customers.
“We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank.
“The message which was incorrectly interpreted and reported was sent to , and intended for our vendors only and focused on transitioning from our current I-Supplier Platform (our automated platform that connects us to suppliers) to a new Cloud-based Supplier Platform (world-class platform for managing suppliers), to enable additional capabilities and benefits
for our vendors,” the bank said.
According to the bank, the trending report that its services will be disrupted is not true, explaining that the upgrade of its suppliers’ platform, which is already ongoing, will not affect normal banking transactions.
“Please be informed that no system upgrade is currently underway, and all our customer applications are fully operational. We are not experiencing disruption to our services, and our banking systems, customer transactions, channels, etc, will not be affected by the enhanced supplier platform.
“Rest assured that our commitment to seamless service delivery remains unwavering as you continue to enjoy uninterrupted access to our services,” the bank added.
Earlier , some reports had alleged that the bank announced plans to transition to a new cloud-based procurement and financial platform as part of plans to improve services nationwide that would disrupt services for 10 days.
Nigeria's Gross Domestic Product and provides decent jobs and sustainable livelihoods for our growing population.”
The president added, “The potential is immense: With 563 million chickens, 58 million cattle, 124 million goats, 60 million sheep, and 16 million pigs, Nigeria is the leading livestock producer in West Africa. Yet, despite this vast resource, we face stark realities.
“Our annual production of animalsource foods, like milk at 0.7 billion litres, meat at 1.48 million Tonnes and eggs at 0.69 million metric Tonnes, falls far short of our needs. Our per capita consumption levels – 8.7 litres of milk, 9 kg of meat, 3.5kg or 45 eggs per year – are troublingly low compared to global averages. These are 44 litres of milk, 19 kg of meat and between 160 and 180 eggs per year.
“What is more worrisome to me is the average milk yield by cow breeds managed by our pastoralists: it is a mere 0.5 to 1.5 litres per day, compared to a global average of 6.6 litres per day.
We can do much better!"
Tinubu commended the Presidential Livestock Reform Implementation Committee, led by the Co-Chairman, Professor Attahiru Jega, and the Secretary, Professor Muhammed Yahaya Kuta, for their commitment to repositioning the livestock sector.
He also applauded the chairman of the Nigerian Governors' Forum, Abdulrahman Abdulrazaq, "for assuring C-of-Os and other instruments from other areas. I also know that the Etsu Nupe, Alhaji Yahaya Abubakar, with the vast land in his domain in Niger State, will accommodate many investors.
“We didn’t see the cold room investment. We didn’t see that opportunity before now. But it is coming. We are going to give it all it takes.
“The opportunity is there. When I inaugurated the Presidential Livestock Reform Committee, I didn’t see the path clearly until they started working.
Thank you, Prof Attahiru Jega.
“We can create a vivid picture of the
future we want to see; it’s the future of our country. The economic opportunities for our children, and with that effort, we can say God bless Nigeria.
"We will create this environment where the business will thrive. It is our duty to our children and future generations to get this right. Let’s unite in our effort; from reform to realisation of our dream and ambition. I stand before you fully committed to this.”
Tinubu said, "Investors, foreign investors, are already asking questions; how will we collaborate? The committee and the ministry and I will do everything possible to attract them. We can create a vivid picture of the future we want to see, the future of our country. The economic opportunity for our children and this we can say God bless Nigeria."
AbdulRazaq promised the buy-in of governors to ensure that the programme succeeded because of its importance in achieving food security through
livestock reforms.
"I want to assure you hundred per cent buy-in of sub-nationals to make this a success. This is not just about food security. It's also about national security," the Kwara State governor said. He stated, "We've had several programmes before, like the Ruga programme, the National Livestock Transformation Programme. We've not achieved anything with them. They're just files in the Ministry of Agriculture.
"What we are doing here today is laying the foundation of a better future for us in the state and the local governments. That's where the land is.
“We have to make efforts to make land available, to make the federal government's policy a success for us in Kwara. We've seen that over the years, herdsmen roam across our countryside.
"They've been there for hundreds of years, but never at any moment sought to seek a certificate of occupancy. So they believe, rightfully to their beliefs, that land and water belongs to God.
Senate to Screen, Confirm Tinubu's Seven Ministerial Nominees Next Week
Sunday Aborisade in Abuja
The Senate will start the screening of the seven Nigerians who were nominated for appointment as ministers by President Bola Tinubu next Wednesday.
Senate President Godswill Akpabio, yesterday read Tinubu’s letter which requested the Red Chamber to consider the nominees for necessary screening and confirmation.
The ministerial nominees for Senate’s
consideration and approval are: Dr Nentawe Yilwatda (Humanitarian Affairs and Poverty Reduction); Muhammadu Dingyadi (Labour & Employment); Bianca OdumegwuOjukwu (State Foreign Affairs), and Dr Jumoke Oduwole (Industry, Trade and Investment).
Others are: Idi Mukhtar Maiha (Livestock Development); Yusuf Ata (State, Housing and Urban Development), and Dr. Suwaiba Ahmad (State Education).
Akpabio referred the nominees to the Committee of Whole for further legislative work as soon as possible.
President Tinubu in the letter, appealed to the Senate to give expeditious consideration to his request.. Akpabio referred the presidential request to the Committee of the whole for accelerated consideration.
"Distinguished colleagues , the presidential request is referred to the committee of the whole for consideration very soon," he said.
A principal of the Senate who spoke to THISDAY after the plenary on condition of anonymity, said the upper chamber would start the screening of the nominees, as from Tuesday next week.
He said: “Since the request got to the Senate on its last day of sitting in the week , the Red Chamber may after getting the required documents on the nominees , commence their screening on Tuesday and possibly conclude it on Wednesday next week.”
Glo My-G Targets Youths with Multi-city Entertainment Tour
Digital solutions provider Globacom has announced an entertainment tour for its youth-centric product, My-G. The show will be hosted across major cities in Nigeria.
Globacom disclosed at a press briefing on Thursday that the youthfocused entertainment tour is geared towards highlighting the huge benefits of My-G, a product which addresses the entertainment and connectivity needs of young Nigerians.
Globacom’s Director of Creativity, Mr. Chuka Obi, explained that My-G offers unique data bundles which enable
customers to access their favourite entertainment sites, social media platforms, and streaming services at affordable rates.
According to him, "With My-G, Glo customers are able to enjoy WhatsApp, TikTok, Snapchat, BoomPlay, Audiomack, Instagram and GloTV without sweating on data cost".
He added further that, “My-G package is awesome, and customers are assured of getting the best data deals to spend more time on entertainment sites that they love to surf. That necessarily means they won’t get their pockets emptied just because they want to have fun”.
Obi also added that the experiential engagements in these cities will be garnished with undiluted entertainment, while "the pass to enjoy this, will surely be their uptake of My-G data bundles”.
Youth leaders who graced the unveiling of the entertainment tour gave thumbs up to the initiative from Globacom saying that "it would create a great opportunity for young people to engage with the brand that has remained focused at connecting young people to their passions and empowering them at affordable costs".
President, Students Union Government
(SUG), Yaba College of Technology, Morakinyo Olaolu, noted that, “This is a good initiative for youth development. We thank Glo for My-G which is for us the Youth.”.
In the same vein, Adebobola Ayomide, SUG President, Lagos State University, opined that “My-G will help the youth to stay more active online. It will be useful to us in both academic and social activities. We are happy with the plan and we also call on Glo to provide other packages that will help improve student lives on campus. We appreciate the company at all times”.
Deji Elumoye in Abuja
23rd October, 2024
President Bola Ahmed Tinubu (GCFR)
President and Commander in Chief of the Armed Forces
Federal Republic of Nigeia
Aso Rock Presidential Complex
Asokoro- Abuja.
Through: The Chief of Staff to Mr President
Dear Mr President,
LETTER OF COMMENDATION TO HIS EXCELLENCY, PRESIDENT ASIWAJU AHMED BOLA TINUBU.
Your Excellency, I write to sincerely commend you for very recently assenting to the Bill for the establishment of the National Centre for the Control of small Arms and Light Weapons into law. I recall that this bill was not widely popular when I sponsored it and took the lead debate with the support of some of my colleagues in the 9th Senate. However, it was passed into law on Tuesday July, 26th, 2022.It is therefore with immense enthusiasm that I thank you, Mr President for your prompt and expedient attention to assenting to the Bill. This is indeed a landmark achievement towards strengthening our security system and a clear indication of the Government’s commitment in curbing the proliferation of illegal arms in Nigeria. The benefits of this Bill cannot be overstated as it would allow the Centre work assiduously towards preventing, combating and eradicating the illicit trade of small arms and light weapons in Nigeria. Once again, Thank you your Excellency, and congratulations.
May I also use this opportunity Mr President, to appeal to your good conscience to kindly refer to three other important and urgent bills before you, currently awaiting assent, which were similarly sponsored by me in the 9th Senate.
1. THE UPGRADE OF KABBA COLLEGE OF AGRICULTURE (a division of Ahmadu Bello University, Zaria), TO A FULL FLEDGED UNIVERSITY OF AGRICULTURE.
For ease of reference, the Kabba College of Agriculture, Kogi State, was established in 1964 and remains a unique legacy of Late Premier of Northern region of Nigeria Pa Ahmadu Bello, the Saudana of Sokoto. Going through historical records of similar colleges/campuses established after Kabba College of Agriculture, such as that of Markudi, Sokoto, Kano and Bauchi, they all have been upgraded to full-fledged Universities. The advantage of this, in addition to Agriculture playing a vital role in our socio-economic development by being a major catalyst for diversification, is that an urgent upgrade of the College will ensure that the students, who pass through the upgraded institution, will be adequately positioned to compete at the open market.
The conversion of the College to a full university has been a long standing desire of our people and worthy of note is the fact that the public hearing for this bill attracted the total support of all stakeholders from Kogi State and beyond.
2. A bill for an act to amend the legal education (consolidation, etc.) act by establishing the campuses for the Nigeria law school. This Bill is cited as the Legal Education (Consolidation Etc.) Act (Amendment) Bill, 2021. It seeks to establish, at least two (2) Campuses in each of the six (6) Geopolitical zones as specified in the schedule to the Bill as follows: North Central: Kabba Law School campus,Kogi State and Jos law School Campus, plateau State. For North east: Maiduguri Law School, Borno State. For North West: Argungu Law School Campus, Kebbi State. For South East: Okija Law School campus, Anambra State. For south south:Orogun Law School Campus, Delta State. For South West: Ilawe Law School Campus , Ekiti State.
This bill is to accommodate the large number of law graduates in the country whose statistics outweigh the current capacity of the existing law schools. Indices show that the back log remains overwhelming and an assent to this bill will go a long way in addressing the spill over.
3. A bill for an act to establish Federal university of Medicine and Medical Sciences, Egbe, kogi state (establishment) bill, 2022.
This bill Mr President will provide a platform to the established eighteen (18) federal Universities of Medical Sciences and Biomedical Technology with at least three Universities of Medical Sciences and Biomedical Technology, in each of the six Geo-political Zones of the Federation. Importantly, it will help in addressing the dearth in admission of students aspiring to study Medicine and Allied Sciences in Nigeria and the availability of the needed manpower in our healthcare Service Sector; while the enormous stress posed by the teaming Nigerian Population on the available national Health Infrastructure and available health personnel will be reduced.
On this premise your Excellency, we urge you, in your good nature and passion for all things progressive, to give your kind approval and assent to these bills.
Sincerely;
DISTINGUISHED
SENATOR SMART ADEYEMI (C.O.N)
POLITICS
Acting
Email: deji.elumoye @thisdaylive.com
08033025611 SMS ONLY
The Peaceful LG Poll on the Plateau
Seriki Adinoyi writes on the recent peaceful election conducted by Plateau State Independent Electoral Commission to herald new Chairmen and Councillors into the 17 local government councis in the state.
The recent Plateau State local government poll can be well described as exceptional in many ways; it was relatively peaceful, with less rancor and complaints, and it was all-inclusive having all political parties participating and non-indigenes in the state contesting and winning elective positions.
This is a sharp departure from previous elections where council poll always ended in violent crises leading to death of citizens and destruction of properties in the state. Kudos to the state independent electoral commission.
Ahead of the elections, the Plateau State Independent Electoral Commission (PLASIEC) had reiterated its readiness to conduct the polls, but also pleaded with the state government to give it all necessary support for a free, fair, and credible election.
Addressing the press, the Chairman of PLASIEC, Plangji Daniel Cishak, expressed readiness and commitment towards the conduct of transparent polls across the 17 Local Government Areas and 326 Wards in the state, bearing in mind that a credible and transparent exercise will make actors accept the outcome of the elections.
As a way of testing its preparedness, not minding the cost, PLASIEC embarked on mock elections across the three senatorial zones of the state. It was to test the readiness of the trained ad-hoc staff and also to test the efficacy of the newly launched voting technology known as Voter Verification System (VVS) used for the elections.
This way, voters and the ad-hoc staff were acquainted with the process and the voting technology, which the PLASIEC Chairman said was designed to enhance the integrity of the electoral process by ensuring that only registered and eligible voters could participate in the elections.
According to him, the introduction, launch and test-run of the voting technology was significant to boost the confidence of the electorates and an assurance of the integrity of the exercise.
The response from both voters and electoral officials was overwhelmingly positive as voters expressed satisfaction with the smooth verification process enabled by the VVS, which minimized delays and ensured accuracy in voter identification. The mock election also gave PLASIEC officials valuable insights into potential challenges and areas for improvement before the actual election.
All of these eventually enhanced a free and fair exercise that didn’t leave anyone in doubt, and where an exercise is transparent, there are usually few or no cases of ill-feeling that would usually lead to crisis.
The introduction of the VVS represented a key milestone in PLASIEC’s efforts to incorporate technology into the electoral process, helping to prevent electoral fraud and streamline voting procedures.
Of particular reference was the conduct of the exercise in Jos North Local Government Area, a hotbed of violence in past elections. Senator Joshua Dariye literally avoided elections in Jos North during his tenure as Governor of the state for fear of violence.
He simply consulted with stakeholders and appointed caretaker chairman.
The plurality of Jos North council where several ethnic groups with significant populations reside makes election in the council usually very dicey.
During his tenure as Governor, Senator Jonah Jang dared to conduct election in Jos North. The outcome was overwhelmingly bad as the mayhem that broke out and its ripple effects resulted in the death of hundreds of people and destruction of many properties.
Though the voting itself went peacefully, violence set in at collation centres where caution was thrown to the wind.
Senator Simon Lalong, during his tenure in 2018 also cleverly left out Jos North and three other Local Government Areas (LGAs). He said that prevailing security situation
in Jos North, Riyom, Barkin Ladi, and Jos South were such that elections could not be held in those councils.
Lalong’s tenure also saw total exclusion of the Peoples Democratic Party (PDP) from local council election, a development that created bad blood and nearly threw the state into violence.
So, Governor Caleb Mutfwang actually
broke the records by not only conducting elections in Jos North and across the entire 17 LGAs, but also did it peacefully such that there was no report of violence.
Remarkably, this was the first time that local government elections were conducted across all 17 LGAs and ended peacefully, a testament to the progress the state has made in strengthening its democratic institutions.
Opposition parties achieved notable wins in various Councillorship positions. This outcome reflected an inclusive political landscape, underscoring a renewed commitment to credible and participatory governance at the grassroots level.
Pundits attributed the ‘magic’ to wide consultations, all-inclusiveness, and transparency of the exercise, saying when an exercise leaves a contestant and his supporters with no doubt that they were roundly and squarely defeated, they are unlikely to go violent. That was what happened.
In the elections, some Igbo youths that participated were returned elected as ward counillors. Austin Wachuku from Abia State, was elected councillor for Vanderpuye Ward in Jos North Local Government Area while Okoro Uzoma, an indigene of Imo State, was elected to represent Tafawa Balewa Ward, also in Jos North. Both secured their positions on the platform of the Peoples Democratic Party.
Though, the elections in 21 wards were inconclusive, re-run election were later conducted in the affected wards.
Speaking with a sense of fulfillment, PLASIEC Chairman said, “As a commission, we have ensured that the election was free, fair, and credible. Today, it is with joy that we present you with certificates of return, allowing you to be sworn in at your various LGAs.”
As usually obtained in every contest, the opposition All Progressives Congress (APC) in the state rejected the results of elections describing the exercise as ill-fated, warning that the PDP could not have won all the 17 LGAs if the exercise was credible.
NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
Aliyu: Adesina Has Potential to Lead Nigeria
Chuks Okocha in this interview with Betara Aliyu, former Assistant to Chief Economic Advisor to Ex-President Olusegun Obasanjo, Chief Philip Asiodu, speaks on the recent lecture delivered by the President of African Development Bank, Dr. Akinwumi Adesina at the 90th birthday celebration of former Head of State, General Yakubu Gowon and its implication for Nigeria’s political development and unity.
What was the main focus of Dr. Akinwumi Adesina’s lecture at General Yakubu Gowon’s 90th birthday anniversary?
Dr. Akinwumi Adesina’s lecture focused on Nigeria’s core developmental challenges, such as poverty, insecurity, food security, education, infrastructure, energy and ethics. His vision for transforming Nigeria into “Global Nigeria” aimed to inspire progress, prosperity and global relevance.
By addressing these key issues, Adesina highlighted areas where reform is most needed and positioned himself as a visionary leader capable of moving Nigeria toward an era of renewed greatness.
How does his vision align with the needs of the Nigerian populace?
Adesina’s vision directly resonates with the aspirations of ordinary Nigerians, especially those most affected by the country’s hash struggles. He emphasizes critical issues like poverty, hunger, illiteracy, and infrastructural deficits, which are areas where the current government is seen as underperforming. His optimistic focus on creating a “Global Nigeria” promises progress that appeals to a population eager for leadership that addresses their everyday realities and offers actionable solutions to Nigeria’s fundamental problems.
Why is Dr. Adesina’s lecture at Gowon’s birthday seen as politically significant?
Delivering such a policy-oriented lecture
at General Yakubu Gowon’s 90th birthday celebration, attended by Nigeria’s political, military and traditional elites, is symbolic. It signals Adesina’s alignment with Gowon’s legacy of national unity and good governance.
The presence of influential figures, including former presidents, governors, Senators, highest traditional and religious leaders, and military leaders, underscores the importance of the event and lends credibility to Adesina as a candidate capable of reversing Nigeria’s decline and fostering national unity and progress.
How does Dr. Adesina differentiate himself from the current government?
Adesina contrasts himself with the incumbent leadership by offering detailed, knowledgeable and actionable solutions to Nigeria’s problems. While the current administration only has a slogan - Renewed Hope - but with no clarity and action.
While the current leadership is seen clearly as underperforming in critical areas of poverty alleviation, infrastructure development, and ethical governance, Adesina’s approach is rooted in his successful track record of reforms, like the e-wallet system for farmers, and his capacity to implement practical, well-thoughtout solutions. His focus on addressing real issues, such as the 63% poverty rate and the $29 billion annual loss from unreliable electricity, presents him as a result-oriented alternative. Also, his achievements in such developmental programs in other countries across the globe are impressive and pointers to what he can accomplish in the country.
What specific solutions does he propose to address Nigeria’s challenges?
Adesina outlines several practical solutions, including the creation of Special Agro-Industrial Processing Zones to boost food security, investments in education and infrastructure to enhance development, and the establishment of a $100 million Youth Entrepreneurship Investment Bank to support youth businesses. These proposals reflect his deep understanding of Nigeria’s problems and his capacity to develop the country through industrialization, agriculture, and education, with youth entrepreneurship at the center of the development strategy.
NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
The new ministers have their work cut out, writes JOSHUA J. OMOJUWA
NEW HANDS, OLD EXPECTATIOONS
As if he was not already under some pressure, President Bola Tinubu found himself
nent. Most people expected that this would have happened around the Independence anniversary celebrations, but it has now happened just over three weeks after. In the end, the country’s unemployment numbers but in the same move, seven new ministers were appointed, so a fair balance on employment numbers. However, that also meant that an
In the end, the Tinubu administration took some major decisions on the day. The Min-
The new ministry is expected to oversee the
Commission. You’d expect that to include other development commissions soon. dissolved as the National Sports Commission became the new tool for sports development.
now so this will especially be celebrated in football circles.
The Federal Ministry of Tourism and the Art, Culture, Tourism and the Creative Econportfolios, what you’d call the real reshuf-
Not surprise that Uju-Ken Ohanenye, forthink there is a part of her that’d appreciate like she had been elevated way above her level of competence and has now been done a fa-
ter of Tourism? I did not. I need to pay more
been surprised to hear this announcement they had a Minister of Education. Abdullah Muhammad Gwarzo, a minister of state inopment. They all served for about 13 months.
The seven new ministers have their work cut out because expectations could not be
as Minister of Labour & Employment, Bianca Odinaka
try of Industry, Trade and Investment as Min-
Whilst they may all be tempted to celebrateon Public Communication and Orientation. He has been a vocal promoter of the CNG vehicle conversion. He now has a formal platform toof Information and National Orientation.
That’d prove even more costly. I expect another cabinet rework before May 2027, after all, this lasted for 13 months or so. the immediate past is to adjust his team accord-
It will be two years of the Bola Ahmed Tinubu administration in about seven months. Halfdent’s reforms are what the World Bank and the nature of development ordered, the people expect that these reforms are balanced with interventions that’d ensure the most vulnerable believe, and everyone who remains on board must be put on notice about the rules of en-
the clock of the constitution. Like the president himself, there is a limited time left to serve, even if they are trusted with another term. In that
Omojuwa is chief strategist, Alpha Reach/BGX Publishing
A Nuclear World War will destroy our planet, writes RAJENDRA ANEJA
STRANGLE THE SATAN OF WORLD WAR III
Most of us in the middle and lower-incomed groups sleep innocently in the nights, ensconced by our families, blankets or air-conditioners. However, we may not sleep securely for long. As we slumber, the Satan of a possible nuclear World War is gradually creeping in, from the battlefields of Ukraine, Lebanon, Gaza, etc. This Satan or World War III, threatens to destroy, not merely our peaceful inertias, but also our planet.
The Russia-Ukraine war has been causing immense loss of human lives. However, Western countries continue to pour arms, tanks and fighter aircraft into Ukraine to fortify it. Russia’s allies, like China and North Korea, also continue to support it. Both sides have taken hard stances. No country in the world, has taken the lead, to bring them to a negotiating table. Meanwhile, the number of widows and orphans, in both countries, continues to grow. We are becoming an inhuman and insensitive world.
Ukraine has been pressurising the USA and its Western allies for long-range missiles, to attack Russia’s interiors. Hitherto, the USA had supplied weapons to Ukraine, to counter the invasion and not for attacks in Russian territories. Permitting the use of Western missiles to attack inside Russia, will aggravate the war. Russia will clearly see this as a Western allies’ proxy attack, through Ukraine.
Ukraine should Negotiate.
Former US President Trump has wisely said on 25 Sept, in North Carolina, that Ukraine should reach a settlement with Russia. He said, “Ukraine is gone. It’s not Ukraine anymore. You can never replace those cities and towns, and you can never replace the dead people, so many dead people. Any deal, even the worst deal, would have been better than what we have right now.”
It is in everybody’s self-interest, to rein Ukraine and Russia and help them to negotiate. Fanning their misunderstandings and battles, will be selfdefeating for everyone, in the long-run.
The Ukraine-Russia war has become absolutely attritive. There is ample misery and hardship. Ukraine cannot win this war on its own. It is relying on the Western countries for arms and ammunition. Ukraine is getting impoverished and losing its youngsters. It should negotiate with Russia and end this bitter, protracted war.
Meanwhile the war between Israel and PalestineHamas-Iran continues and threatens to engulf surrounding countries. It festers indefinitely. Millions of ordinary people are being displaced and live in the daily fear of being bombarded and killed. How can we accept such belittling of human life?
The triggering of blasts through remote controls, in Lebanon, has serious implications for mankind in general and the travel industry in particular. Explosions in the future, could be triggered through mobile phones, laptops or cameras. So, will the airlines, railways and buses, or taxis, permit the carrying of these appliances? The implications of these detonations through remote-controls, are devastating for us. It means, nobody is safe, anywhere in the world, in the future. Any mobile phone, could be a bomb.
The latest round of blasts and deaths in Lebanon, triggered through pagers and walkies-talkies, will aggravate the situation in the Middle East. Hezbollah is bound to react to these attacks. It is a tit-for-tat situation, with each side reacting with more destruction and deaths. The innocents suffer, simply by being there. Iran too, has got embroiled. How does this end?
To avoid a global war, we need first, to ensure cease-fires in the war zones in Ukraine and the Middle East. Second, we need to re-establish trust between the leaders of warring nations. Third,
they have to meet and negotiate. Other nations can help. But, dialogue and trust between the concerned leaders is crucial. Fourth, we should not belittle any leader or country, however small or weak. Hitler, almost dismembered the entire world between 1940 and 1945, for his perceived humiliations of Germany, during World War I. Fifth, to ensure peace, each country may have to sacrifice some territory or ego. There is no humiliation in accepting this. It is wisdom and maturity.
A country like the USA or Russia or China should have taken the lead to resolve the horrible imbroglio between Israel and HamasHezbollah. However, America is preoccupied with the Presidential elections, slated in a few weeks. Russia is embroiled in a protracted battle with Ukraine.
Countries like China, India, UAE and Egypt should take the initiative to ensure a case-fire between Israel and its neighbours. We cannot be by-standers, watching a war movie. If the world does not act now to ensure peace in the Middle East, we could hurtle towards a major escalation and a world war, triggered by a thoughtless mistake.
The United Nations, which was created after World War II, to prevent such conflagrations, is proving ineffective.
Guns are also blazing in various civil wars, in Sudan, Burkina Faso, etc. India and Pakistan always stare at each other. North Korea is always creating concerns. Iran’s nuclear programme causes sleepless nights. To exacerbate matters, high inflation across the globe, is keeping people hungry and impoverished. Unemployment is augmenting in African and Asian countries.
However, guns boom in many countries. War is an absolute waste of human lives. It is an attrition of economic resources. Moneys are spent on bullets and guns, instead of schools and hospitals. All war, is a failure of human intelligence and wisdom. Leaders are elected to prevent wars, not to engage in them or fan them.
The fear is that some nation may deploy a nuclear weapon sloppily or in anger and engulf all nations in the third World War. A World War with nuclear weapons would be catastrophic. It could end the human race. There would be no survivors. The world could become a flaming funeral pyre. We should not be cavalier about the dangers of a nuclear war.
The Satan of a nuclear World War III, has to be strangled immediately, by silencing guns in the battlefields.
Aneja was the Managing Director of Unilever Tanzania. He is the author of “Business Express: An Odyssey of business ideas and sensitivities,” and writes from Mumbai, India
Editor, Editorial Page PETER ISHAKA
Email peter.ishaka@thisdaylive.com
PRIMARY EDUCATION IN THE NORTHEAST
There is urgent need to invest more in education
Far too many children are not in school in Nigeria. But even for those who are, many can hardly read or write, particularly those in the North-east. According to the United Nations Children’s Fund (UNICEF) the region is experiencing a severe learning crisis as three out of four school children cannot read or solve simple mathematical problems before they enter Primary Six. The said recently that only 29 per cent of schools in the “The average pupil-teacher ratio is 124 to one,” she said. “Almost half of all schools need rehabilitation. Only 47 per cent of schools in Borno have furniture with lower proportions in Yobe and Adamawa.”
To be sure, the impact of the Boko Haram insurgency on education in the Northeast is harrowing. At the last count, more than 650 teachers have been killed while about 19,000 others were displaced than 900 schools have been damaged or destroyed, with the forced closure of 1,500 schools. An estimated 900,000 children have lost access to learning while 75 per cent of children in camps do not attend any school.
such closure on children in these states can only be imagined. In Zamfara, the deplorable learning conditions are worsened by lack of teachers in many primary schools. The education board chairman revealed a while ago that no fewer than 300 public primary schools in the state are manned by a single teacher each. Many more schools in the state’s rural communities have no teachers at all, leaving the children to their own devices.
Borno, Yobe and Adamawa States are in the rear obviously because of the adverse effect of the prolonged Islamic insurgency
T H I S D AY
EDITOR SHAKA MOMODU
DEPUTY EDITOR WALE OLALEYE
MANAGING DIRECTOR ENIOLA BELLO
DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU
CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI
EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE
Borno, Yobe and Adamawa States are in the prolonged Islamic insurgency. But they are by no means the only ones. The education crisis is affecting children across the country. At least 20.5 million children are reportedly out of school in Nigeria, many deliberately out of neglect. The number in other states in the north has also been on a steady rise for the past few years.
In March 2021, no fewer than 600 schools were shut down in Sokoto, Kano, Niger, Katsina, and Zamfara States over the fear of attack and abduc-
T H I
EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA
GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU
DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE
com along with photograph, email address and phone numbers
Indeed, across the country, several studies and reports speak volumes about the abject neglect of infrastructure in schools. And to worsen matters, it does not appear as if the relevant authorities as well as other critical stakeholders are paying attention. In many rural communities, classrooms are an essential commodity with the result that children study under trees. In the urban centres that have the luxury of being provided with classrooms, many of them are dilapidated with leaking roofs, cracked walls and without windows. In many of these states, especially across the northern region, tables and chairs for them. Even the schools proKaduna State Ministry of Education sacked overducted to determine their competency.
Nigeria’s falling standard of education can only be halted through adequate funding. It is an immediate imperative. The schools must be well equipped with basic infrastructure, learning tools and competent teachers to make learning attractive. And the classrooms must be safe. Ample evidence exists that the social miscreants and religious bigots, including the Boko Haram insurgents that have destroyed the North-east are largely recruited from the army of uneducated people who grew up without any hope for their future.
A WORK TEMPLATE FOR MINISTER OF LIVESTOCK DEVELOPMENT
Nigeria boasts one of the largest cattle populations in Africa, ranking among the top on the continent. There are over 20 million cattle, primarily concentrated in the northern region in states such as Adamawa, Borno, Kaduna, and Kano.
The new Minister of Livestock Development, Idi Muktar
First, the Ministry of Livestock Development is newly established, and expectations from Nigerians are high. The ministry is tasked with overseeing and developing livestock policies, managing animal health and disease, improving breeds and genetic resources, enhancing husbandry and production systems, supporting rural livelihoods, and modernizing livestock marketing and trade.
From an informal perspective, expectations will focus on how the minister will transform the lives of nomadic cattle herders from being uneducated and nomadic to leading more settled, as well as the notorious practices of cattle rustling, banditry, and kidnapping for ransom, which are prevalent among some cattle herders.
Mukhtar’s second challenge lies in his background; he has
spent most of his career as a technocrat at NNPC. Whether he is aware of it or not, he will inevitably experience the bittersweet realities of politics. Once appointed as a minister, one automatically assumes a political role. Mukhtar will need to navigate this transition, deciding whether to embrace full-time politics or attempt to balance his technocratic expertise with his political responsibilities. Furthermore, few people in Adamawa know him, despite his former role as Managing Director of the Kamany may perceive him as elitist and aloof, particularly in a position that is inherently people-centered.
Mukhtar's third challenge stems from the performances of his two predecessors from Adamawa, Mohammed Musa Bello and Prof Mamman Tahir, which many Adamawa people view as less than stellar. Their tenures have left a mixed legacy, leading to skepticism among the populace about Mukhtar's abilihimself, Mukhtar will need to work diligently to carve out his own identity and establish a positive track record. This task is particularly crucial, as he shares several traits with both former ministers, which could lead to assumptions about his capabili-
addressing the needs of the people, Mukhtar can overcome this challenge and build a reputation that sets him apart.
With an impressive CV as a technocrat, along with practical knowledge of livestock management, Mukhtar's Zaidi Farm stands out as a well-integrated enterprise that applies worldclass best practices in animal husbandry. Given this background, we expect him to introduce innovative approaches to livestock management by benchmarking against countries renowned for Netherlands, Denmark, Brazil, Ireland, and the United States.tainable livestock practices, utilizing advanced genetic research and technology to enhance productivity. However, Mukhtar's journey will be both sweet and bitter , largely depending on his approach to leadership, public relationships and policy implementation. By embracing collaboration and leveraging global transforming the livestock sector.
Zayyad I. Muhammad, Abuja
L-R: A renowned Chef, Samson Balogun; Guest Speaker/Commercial Financial Controller, Unilever Plc, Mrs. Halima Mustapha; Team Lead, Foodclique Support Initiative, Mr. Ibrahim Onilegbale; Director of Food Sourcing and Fund Raising, Foodclique Support Initiative, Abosede Fadide; Managing Director/CEO Unique Hybrid Agro Enterprises, Jerry Apeh; and Founder of Corporate Farmer, Akin Alabi, at the symposium organised by the Foodclique Support Initiative in commemoration of this year’s World Food Day held in Magodo, Lagos...recently
L-R: Honorary Secretary of the Nigerian-Britain Association (N-BA), Mr. Tobi Asehinde; N-BA immediate-past President, Ms. Abimbola Okoya; representative of the Nigerian High Commissioner to the United Kingdom and Admin Attaché/Head of the Overseas Communication Division/ICT, Mr. Uche Eleanya Friday; N-BA President, Mr. Sola Oyetayo; N-BA Executive Secretary, Miss. Olajumoke Adeola; N-BA Vice Patron, Mr.
former N-BA Vice President, Mrs. Carolyn Hall MBE; and N-BA Independence Day celebration Subcommittee Chair/Council Member, Mr. Kunle Ologun, at the 2024 N-BA Nigeria’s Independence Day celebration held in London, United Kingdom....recently
L-R: Bride’s father, Mr. Henry Fugar; groom’s mother, Oluwakemi Kalesanwo; groom, Kalesanmi Kalesanwo; bride, Faith Fugar; bride’s mother, Patience Fugar; and the groom’s father, Otunba Felix Kalesanwo, during the wedding of the couple, Kalesanmi and Faith Kalesanwo, in Accra, Ghana...recently
The Director-General, National Youth Service Corps (NYSC), Brigadier-General Yushau Dogara Ahmed (left), presenting a birthday gift to the founder of NYSC and former Head of State, Federal Republic of Nigeria, General Yakubu Gowon (rtd) (right), on the occasion of his 90th birthday when he led members of NYSC management team and others on a congratulatory visit to the celebrant at his residence in Asokoro, Abuja... recently
L-R: Daughter, Mrs. Solape Daramola; celebrant, Elder Paul Abegunde; son, Mr. Banji Abegunde; celebrant’s wife, Mrs. Adenike Abegunde, during the 75th birthday of Elder Abegunde in Adiyan, Ogun State, recently PHOTO: ABAYOMI AKINYELE
L-R: Multi-talented graphic designer and illustrator, William Chechet; contemporary fashion designer, Ifeanyi Nwune; actress and compere, Nancy Isime; and award-winning musician and music executive, Oluwatosin Ajibade (Mr. Eazi), at the official unveiling of the Glenfiddich Bold Futures 2.0 held at Speakeasy in Lekki, Lagos...recently
Philip Hall OBE;
To Avert Plane Crash, FG May Shut Down Enugu Airport over Deteriorating Runway
Chinedu Eze
The federal government may shut down Akanu Ibiam International Airport, Enugu for the rehabilitation of the runway, to make it safe for air travellers.
The airport which is the only facility that services international flight operations in the South-east may be shut down the third time, if government finally decided that the comprehensive work needed to put the runway in the best shape is to be done.
Runway is a safety critical infrastructure, which must be in good condition for aircraft to operate but experts versed in runway engineering
say that there could be other ways of reconstructing it without wholly closing the airport.
The airport serves many people who live in Anambra, Benue, Ebonyi, Enugu and Abia states. So, the closure will have major negative impact in the movement of the people, especially now travelling long distance by road is being discouraged due to insecurity.
“They are going to close the runway again. I can confirm that to you. What is worrying about it is that the governor of the state has shown a lot of commitment to that airport and closing it will constrict the state’s economic activities. That means that Nigerians will suffer again like the many times it was closed
in the past for the same purpose.
“The runway breaking down now means that the quality of work done in the past is questionable; yet, so much money was voted for its rehabilitation. It doesn’t mean that they cannot use night time alone to repair it or close it on weekends; after all, runway at Gatwick Airport, London was rehabilitated recently but it was done in the night and it served flights during the day. But closing the airport is about our type of administrative system,” an insider who was head of aviation agency and witnessed the rehabilitation of the runway in 2019, said informed sources.
In 2020 when the airport was reopened after the work on the
runway, the former Minister of Aviation, Hadi Sirika, assured that that remedial work would be carried out from time to time on the runway, so that the airport would not be closed again over the same issue.
“FAAN management has been given the mandate to ensure that periodic maintenance is carried out diligently so that we will not have to go through a painful experience of closure again. May I ask the government and people in this region to increase their commitment by using this airport to the fullest of its capacity? This airport will be placed in concession to ensure value for money,” the then Minister had said.
Sirika disclosed at the reopening of the airport that he approved N10 billion as special funding for the rehabilitation of the airport, and that former President Mohammadu Buhari showed how dedicated he was towards the infrastructural development of the South-east.
Like what is happening now, there was a lot of contemplation before the airport was finally closed in 2019 for the rehabilitation because of the critical role the airport plays in the South-east.
A major operator to the airport, Air Peace, supported the closure of the airport then because of the bad runway and expressed hope that after comprehensive rehabilitation,
the runway would be in excellent shape for safe and smooth flight operation.
The Chairman and CEO of Air Peace, Dr. Allen Onyema, explained then that the closure was necessary to ensure safety of flight operations to the route.
“The management and staff of Air Peace wish to commend the federal government for the decision to close the Akanu Ibiam Enugu International Airport in order to allow proper repair and maintenance of the airports runway which has given us serious safety concerns.
REWARD FOR SHAREHOLDERS…
Microsoft, a global technology company, has stressed the need for organisations to prioritise security above everything else, following the rising threats in cybersecurity globally.
According to Microsoft, the changing threat landscape and evolution of Artificial Intelligence (AI), means that organisations need to think about cybersecurity differently.
Speaking at a recent Microsoft Africa AI Journalist Academy virtual press conference, the CTO and Commercial Solutions Area Director at Microsoft South Africa, Mr. Colin Baumgart, said: “The cybersecurity landscape is undergoing a profound transformation, driven by the
relentless evolution of technology and the increasing sophistication of cyber threats. In this dynamic environment, Artificial Intelligence (AI) has emerged as a pivotal ally in the fight against cybercrime.”
According to him, AI’s ability to analyse vast amounts of data at lightning speeds enables the identification of patterns and anomalies that may indicate a security breach, often before it occurs. This proactive stance is crucial in a time when reactive measures are no longer sufficient.
He said in an era where digital threats continued to escalate in complexity and scale, organisations cannot just think about defending against cyber threats, as we need to be advancing the way we design,
build, test and operate our technology to meet the highest standards of security. It is for this reason that Microsoft created The Secure Future Initiative (SFI), a multi-year undertaking to safeguard our digital ecosystem, he said.
He explained that the solution remained an approach that is anchored in three fundamental principles: secure by design, secure by default, and secure operations, ensuring that security is not an afterthought but a foundational element of everything we create.
Presenting a paper on cybersecurity, the Chief Data Officer for Microsoft South Africa, Dean Erasmus, discussed AI’s rapid advancement and its global impact. According to him, the pace
of innovation in AI is astonishing. The demand from customers and governments for AI capabilities is skyrocketing. Use cases that were once priorities are now standard SaaS offerings. Additionally, the cost of AI infrastructure has plummeted, making it more accessible than ever.
“Microsoft prioritises AI safety. We’ve developed a framework based on our experiences in North America and Europe, where regulations are more established. This framework focuses on fairness, reliability, inclusivity, standards, and accountability. From an implementation perspective, one of the biggest challenges we face is ensuring that organisations have the right data and infrastructure in place. Without high-quality data, AI models
will produce inaccurate results. Additionally, organizations need to invest in the necessary infrastructure to support AI workloads, including powerful hardware and specialised software,” Erasmus said.
Chief Information Security Officer (CISO), Microsoft South Africa, Wessel Pieterse, who spoke on the theme: ‘The Cybersecurity Landscape- and the A1 oppourtunity’, said cybersecurity threats were evolving rapidly, adding that device compromises and password attacks have increased dramatically in recent years.
“Microsoft tracked a 10-fold increase in password attacks between 2022 and 2023. Additionally, the sophistication of threat actors has grown, with over 300 large-scale threat groups now active. The complexity of cybersecurity has also increased,” Pieterse said. To address the challenges, he advised that organisations seeking ways to consolidate their security strategies, must adopt a more integrated security platform that can help correlate data from different tools, identify threats more effectively, and automate response processes.
“Additionally, investing in security awareness training can help employees recognise and avoid common threats. By adopting a more integrated approach to cybersecurity, organisations can better protect themselves against the evolving threat landscape,” Pieterse added.
Emma Okonji
AIR WATCH As Ethiopian Airlines Acquire New Aircraft
Chinedu Eze
E thiopian Airlines is one of the airlines that is globally competitive, thus carrying the flag for the African continent. It is not only the most successful airline in the region, but a trail blazer, which inspires other operators in Africa and beyond.
Earlier this year, the airline marked its 78th anniversary and awed the world with its continuous acquisition of aircraft. It recently expanded its operations in cargo with high sophisticated cargo facility at its operation base, Addis Ababa.
The airline’s Sales Manager in Nigeria, Mrs. Adetola Alabi, outlined the Ethiopian Airlines’ recent achievements. She spoke about Ethiopian Airlines introduction of its newest aircraft, the Airbus A350-1000 to its Lagos fleet, noting that the state-of-the-art aircraft offers unmatched comfort, luxury, and technological advancements.
“Passengers can expect a spacious and modern cabin with wider seats, more legroom, and a premium travel experience. The A350-1000 also features cuttingedge entertainment systems, Wi-Fi connectivity, and a quieter, smoother flight,” Alabi said.
Among the airlines in the airline’s fleet include 20 Airbus 350XWB, 30 Boeing 737, 19 Boeing 777, 27 Boeing 787, the Dreamliner, 28 DHC Dash 8 with a total of 147 aircraft in its fleet.
On the new fleet from Airbus, the Europe based plane maker said that the airline upsized four of its A350-900 in order to secure the largest variant of the A350 Family in June 2022 and that one of the four A350-1000s on order is now expected to arrive at Ethiopian airlines’ hub next month.
“We are all set to welcome the A350-1000, the very first of its kind in Africa in November 2024,” the airlines announced on Tuesday, adding that the plane has already been named as ‘Ethiopia Land of Origins’.
“The A350-1000 is one of the two versions of Airbus’s A350 family.It can accommodate up to 410 passengers in a standard three-class configuration, with 40 per cent more area for premium-category seating, per Airbus.Ethiopian became the first African carrier to operate the A350 when it took delivery of the first A350-900 aircraft seven years ago.
“The airline has since expanded the fleet size due to “performance, operational and cost efficiencies” of its initial aircraft.Ethiopian currently operates a fleet of 20 A350-900s and recently reached an agreement with the planmaker for an additional 11 A350-900s. The agreement takes the Airlines’ order book and commitment for A350 to 33, include the four A3501000S,” Airbus stated on its website.
The airline has Aircraft Maintenance Technician School, an Approved Training Organization (ATO) by the Ethiopian Civil Aviation Authority and EASA Part 147 B1/B2 approved by the European Aviation Safety Agency.
Established in 1967, Ethiopian Aircraft Maintenance Technicians School has specialised in aviation maintenance trainings for nearly 50 years; consistently offering the highest industry standard maintenance technicians training.
“We offer Basic, Type and Recurrent training programs with a combination of classroom theory and hands-on practical trainings. Our competent instructors are dedicated to prepare trainees for entry- level employment as Aircraft Technicians and type rate on specific aircraft.
“Our goal is far beyond preparing our trainees for certification and licensing. It is to be the center of excellence that creates favorable experience, both for our students and employers alike,” the airline further said.
Ethiopian MRO provides base maintenance services to domestic and foreign carriers and the maintenance facility is capable to deliver heavy maintenance services on A350 XWB-900, B737NG/Classic, B757, B767, B777-200/300, B787-8/9, DHC-8-100/200/300/400,
DA 40NG, DA 42NG, DA 42 M, DA 42 M-NG and Cessna 172 Series.
There are six state-of-the-art aircraft maintenance hangars in ET-MRO, one of which is dedicated for full aircraft paint only. Two wide body aircraft maintenance hangars, two narrow body maintenance hangars and one training aircraft maintenance hangar are the basic places where aircraft heavy (base) maintenance takes place.
“ET-MRO base maintenance services are given by highly professional, skill full and certified maintenance personnel,” the airline also said.
Reuters reported earlier in the year that Ethiopia has signed an agreement for the design of a new four-runway airport that will be Africa’s biggest when construction is completed in 2029.
Located near the town of Bishoftu, around 45 km (28 miles) from the capital Addis Ababa, the airport will have capacity to handle 100 million passengers a year and provide parking for 270 aircraft, Ethiopian Airlines’ CEO, Mesfin Tasew, had disclosed.
As the airline is acquiring more fleet, it is also expanding destinations. Recently Ethiopian Airlines announced the addition of five new international flight destinations for the current fiscal year, further expanding its international services.
Mesfin Tasew, confirmed that among the new destinations are Amsterdam, Monrovia, Port Sudan, and Dhaka. Preparations are also underway to commence flights to Australia within two years, as the airline currently offers services to all continents except Australia.
The airline operates 139 international and 22 domestic flight destinations with a fleet of 147 aircraft. Mr. Mesfin emphasized that the airline is committed to enhancing its international services by expanding its destinations and increasing the number of aircraft annually.
He stated that work on five additional international destinations commenced in the previous fiscal year and highlighted the airline’s commitment to providing safe and reliable flight services to its passengers.
With the addition of these new destinations, Ethiopian Airlines continues to strengthen its position as a leading African carrier and a preferred choice for travelers seeking convenient and affordable air travel.
The airline said that the resumption of its passenger services to Monrovia, Liberia, reaffirms its commitment to strengthening connections across the African continent. Starting on November 30, 2024, the airline will offer three weekly flights to Liberia’s capital, restoring a critical air link that will enhance connectivity in West Africa and contribute to the region’s economic development.
By reintroducing flights to Monrovia, Ethiopian Airlines aims to support Liberia’s socio-economic growth while providing travelers with seamless connections to the rest of the world through the airline’s extensive global network. Flight ET933 is scheduled to depart from Addis Ababa every Monday, Wednesday, and Saturday at 10:30 AM, arriving in Monrovia at 01:50 PM. Conversely, flight ET932 will leave Monrovia every Tuesday, Thursday, and Sunday at 10:20 AM, with an arrival time in Addis Ababa at 08:40 PM. The schedule is designed to accommodate both business and leisure travelers, ensuring a smooth connection to the airline’s extensive global network. Ethiopian will deploy its ultra-modern aircraft on the route.
Many aviation observers attribute Ethiopian Airlines success to its management, the commitment of the management team, their altruistic disposition, patriotism and the desire to always be on top. The airline had gone through the undulating experience of doing business in African environment with intemperate political leaders, but what the leaders whether under democracy or military have stuck to, is reverence for Ethiopian Airlines.
Air Peace Holds Football Tournament Tagged ‘October Fest’
Stories by Chinedu Eze
In celebration of its 10th anniversary, West Africa’s largest carrier, Air Peace Limited, recently hosted its October Sport Festival, tagged ‘October Fest’.
The sports festival, designed to foster unity, camaraderie, and team spirit among staff, was a key highlight of Air Peace’s decade-long journey of excellence.
The October Fest, a football tournament featuring 8 male teams and a novelty match for 2 female teams, kicked off on August 31, 2024. The month-long tournament brought together Air Peace staff from various stations across the sub-Saharan region to compete for glory while deepening bonds within the airline family.
The Teams include: Male Teams, BUU Shooters, BVE Rangers, BQQ Warriors, BUO Army, BWI Wanderers, BYJ Rovers, BXG Gunners and BQV Invaders.
Female team includes BUJ Amazons and BYF Angels.
The tournament was a thrilling spectacle of skill, excitement, and sportsmanship, full of pomp and fanfare. After weeks of intense competition, the finals culminated in nail-biting matches that kept fans on the edge of their seats.
In the male category, BQQ Warriors faced off against BXG Gunners in a dramatic final that ended 1-1 after regular time. The match was decided by penalties, where the BXG Gunners triumphed
and were crowned champions. The female category also delivered an equally exciting final, where BUJ Amazons played against BYF Angels. Both teams scored 1-1 in regular time, with BUJ Amazons securing victory through penalties. Major financial rewards were given to the winners, as well as the 1st and 2nd runners-up in the male category and the 1st runners-up in the female category.
In attendance at the event was Air Peace’s CEO/Chairman, Dr. Allen Onyema, along with members of the executive board and the airline’s management. Addressing the press, Onyema emphasised the significance of the October Fest as more than just a football tournament.
AON Commends President Tinubu on Reappointment of Keyamo
The Airline Operators of Nigeria (AON) has expressed appreciation to President Bola Ahmed Tinubu, for the reappointment of the Minister of Aviation and Aerospace Development, Festus Keyamo.
AON said this decision reflects the president’s keen judgment and steadfast commitment to the growth and advancement of the aviation industry in Nigeria.
“Since his initial appointment, Honorable Keyamo has demonstrated exceptional leadership, setting a new standard for the aviation sector. His relentless efforts and advocacy for policies that ensure the ease of doing business have brought about significant positive changes.
AON members are proud to affirm that, under his stewardship, we have never had it this good.
“His proactive engagement with the industry, his focus on safety, and his commitment to the success of both local and international airlines have restored confidence in the sector. It is clear that he has the best interests of the nation and the aviation sector at heart”, the operators said.
The body observed that through Keyamo’s dedication to implementing the Cape Town Convention, he played a pivotal role in improving Nigeria’s aviation rating from 40% to about 80% in a short period of time, adding that
Keyamo’s efforts in ensuring compliance with international standards facilitated greater access to aircraft financing and leasing, which bolstered the operational capacity of airlines and contributed significantly to the sector’s growth.
“The reappointment of Festus Keyamo stands as a testament to President Tinubu’s vision of excellence and progress for Nigeria. We believe that every government is ultimately judged by the caliber of individuals appointed to critical positions. In Festus Keyamo, the President has made an outstanding choice, ensuring that Nigeria’s aviation sector remains in capable and visionary hands.
How Schneider Electric is Growing Nigeria’s Economy thr ough
Industrial Automation
Oluchi Chibuzor
In recent years, Nigeria has faced significant economic challenges, including rising inflation and technological stagnation across key revenuegenerating infrastructures. Despite its diversified economy—anchored by sectors such as oil and gas, agriculture, and services—a substantial portion of Nigeria’s GDP still relies on the primary sector, with agriculture alone contributing 21.07 per cent.
According to the United Nations, economic growth, social development, and climate action are closely tied to investments in infrastructure, sustainable industrial development, and technological advancement. To drive a meaningful transformation in Nigeria’s economic trajectory, the country must embrace widespread industrial automation across its manufacturing processes and economic activities.
Contributing to Nigeria’s economic advancement, Schneider Electric, a global leader in Digital Transformation and Process Automation, is solidifying its presence in Sub-Saharan Africa with its innovative automation solutions and services. With 150 dedicated employees and four engineering centers across the region, Schneider Electric is demonstrating its commitment to driving operational excellence and sustainable growth in Nigeria’s critical industries: Petrochemicals, Oil & Gas Exploration, Production & Refining, Power Generation, Mining, and Manufacturing.
Digital and Software Business Leader for Sub-Saharan Africa at Schneider Electric, Elijah Daniel, shed light on the transformative impact of Schneider Electric’s Process Automation solutions. “Our advanced technologies and expert services are designed to streamline production processes, enhance operational efficiency, and significantly reduce downtime and maintenance costs. In a region where industries face unique challenges, our commitment is to provide tailored automation solutions that drive productivity and sustainability.”
Schneider Electric’s comprehensive automation solutions are crafted to meet the specific needs of industries with complex processes. In the consumerpackaged goods sector, by automating production lines and integrating real-time monitoring systems, manufacturers can ensure consistent product quality and minimize waste.
Speaking on the impact of process automation on the economy, Elijah noted Schneider Electric’s contribution to the Nigerian Oil & Gas industry, where precision and safety are paramount. Schneider Electric’s automation systems have provided integrated process control and safety system solutions to various clients. “Our resilient automation and information solutions cater to upstream, midstream, downstream, gas processing,
Kwara State Government
Kwara State Ministry of Works and Transport Rural Access and Agricultural Marketing Project (RAAMP) State Project Implementation
RFB Description: CONSTRUCTION SERVICES FOR THE PHYSICAL IMPROVEMENT OF 3 AGRO LOGISTICS CENTERS (ALCs) IN KWARA STATE (LOTS 1, 2 &3)
Project: Rural Access and Agricultural Marketing Project (RAAMP)
Employer: Kwara State Project Implementation Unit
Country: Nigeria
Issued on: Friday 25th October, 2024
1. The Federal Government of Nigeria through the Federal Ministry of Agriculture and Rural Development has received financing from the World Bank toward the cost of the Rural Access and Agricultural Marketing Project (RAAMP) and intends to apply part of the proceeds toward payments under the contract for Construction Services for the Physical Improvement of 3 Nos Agro-logistic Centres (ALCs) Kwara State. This contract will be financed by the International Development Association (IDA). Procurement process will be governed by the World Bank’s Procurement Regulations.
2. The Kwara State Project Implementation Unit, Rural Access and Agricultural Marketing Project now invites sealed Bids from eligible Bidders for the Construction Services for the Physical Improvement of 3 Nos Agro-logistic Centres (ALCs) Kwara State grouped into 3 lots as follows; LOTS OF LOADS
storage, and loading facilities.
“Our Industrial and Process Automation solutions include EcoStruxure Foxboro Distributed Control Systems, EcoStruxure Triconex Safety Systems, Modicon PLCs, SCADA Systems, and Process Instrumentation. With a client base including all the IOCs operating in the country, three petrochemical plants, one LNG plant, and the world’s single largest 650k bpd private refinery, we have successfully controlled plant processes, managed overall asset safety, and ensured uninterrupted production,” he said.
It is no news that crude oil theft is a significant threat, contributing to Nigeria’s revenue decline. Therefore, safeguarding our oil resources is critical to leveling up our economic power. Beyond ensuring consistent uptime in assets, Schneider Electric plays a vital role in protecting the entire production value chain in the oil and gas sector through its pipeline monitoring solutions, shielding the Nigerian economy from potential losses due to bad actors, operational inefficiencies, or safety incidents.
The mining sector, which contributed only 0.77 per cent to GDP in 2023 according to the National Bureau of Statistics (NBS), can benefit from Schneider Electric’s solutions, from automated drilling and blasting to real-time asset monitoring. By automating key processes and implementing predictive maintenance, mining operators can enhance production efficiency and reduce downtime.
Elijah Daniel urges business leaders in Sub-Saharan Africa to invest in the right automation systems to drive seamless production and reduce malfunction repair costs through their Customer First program. The Schneider Electric Customer First program is a customer-focused services and support program structured to help businesses protect their critical investments by effectively maintaining hardware and software systems, reducing downtime, and increasing performance levels. It also aims to reduce total cost of ownership through discounts and flexible funding options, and to improve operational performance by leveraging Schneider Electric’s resources. “By partnering with Schneider Electric, Nigerian industries can experience a new wave of efficiency, safety, and sustainability.”
By enhancing productivity, ensuring product quality, and promoting safety, Schneider Electric is playing a pivotal role in Nigeria’s economic advancement.
As Nigeria continues to navigate its path towards industrialization and economic diversification, Schneider Electric stands as a reliable partner, offering sustainable solutions and a steadfast commitment to sustainability and growth. Learn more about Schneider Electric’s innovative technologies and transform your operations today.
Note: The project involves Construction Services for the Physical Improvement of 3 Nos Agrologistic Centres (ALCs) Kwara State of existing Markets. The works include but not limited to; Site clearance and Building of Structures, Culverts and Drains and Pavement of the Roads Between the Market as well as strict undertaking of Social and Environmental Safeguard. The work is expected to be completed within 8 months.
3. Bidding will be conducted through National Competitive procurement method using Request for Bids (RFB) document as specified in the World Bank’s “Procurement Regulations for IPF Borrowers- Procurement in Investment Projects Financing” November, 2020- Fourth Edition (“Procurement Regulations”), and is open to all eligible Bidders as defined in the Procurement Regulations.
4. Interested eligible bidders may obtain further information from the State Project Coordinator Kwara State Rural Access and Agricultural Marketing Project (RAAMP), State Project Implementation Unit (SPIU) and inspect the bidding document during office hours 0900 to 1600 at the address given below.
5. The bidding document in English Language may be purchased by interested eligible Bidders upon the submission of a written application to the address below and upon payment of a nonrefundable fee of One Hundred Thousand Naira (NGN100,000.00) only per LOT. The method of payment will be direct deposit to the specified account below. The document will be made available at the address given below; Bank Name: Sterling Bank PLC Account Name: Kwara State Rural Access and Agricultural Marketing Project Account Number: 0087093020
6. Bids must be delivered to the address below on or before 12:00noon on Monday 25th November, 2024. Electronic Bidding will NOT be permitted. Late Bids will be rejected. Bids will be publicly opened in the presence of the Bidders’ designated representatives and anyone who chooses to attend at the address below on Wednesday 20th Nov, 2024 by 12:00 noon.
7. All Bids must be accompanied by a “Bid Security” in the amounts indicated in the above table.
8. Attention is drawn to the Procurement Regulations requiring the Borrower to disclose information on the successful bidder’s beneficial ownership, as part of the Contract Award Notice, using the Beneficial Ownership Disclosure Form as included in the bidding document.”
9. The address(es) referred to above is (are):
Kwara State Rural Access and Agricultural Marketing Project (RAAMP), State Project Implementation Unit (SPIU), Sulu Gambari Road, GRA, Ilorin, Nigeria, Telephone: +2348069378681, +2348169265623 Email address: Kwara-RAAMP@hotmail.com
Signed:
Acting State Project Coordinator
Linda Onyesoh: I am Driven by Passion for Beauty Industry, Women’s Empowerment
Linda Onyesoh is the Chief Executive Officer of Merit Multiservices Inc. overseeing entities like MakeupmavenNYNG, Milani Cosmetics Nigeria,andBeautybyAubrey. Sheharnessesherexpertisetoempowerwomenandchampiontheirmultifacetedtalents.Herprofessional journey includes impactful roles at renowned institutions such as Morgan Stanley and Bank of America/Merrill Lynch, where she made significant contributions to fixed-income indexing. In this interview, she speaks on her career path, beauty industry and successful business management amidst the prevailing challenging economic conditions. Precious Ugwuzor brings excerpts
Can you tell us about your career journey from Wall Street to becoming a beauty entrepreneur, and how your background in finance has influenced your approach to the beauty industry?
My career trajectory in finance was serendipitous. Initially focused on gender development and journalism, I immigrated to the United States seeking advanced education and aiming to advocate the rights of young women in Nigeria and beyond. Unexpectedly, I secured a temporary position in a small operations group at Salomon Brothers, which marked the beginning of my journey in finance.
Over the years, I progressed rapidly through roles at Salomon Smith Barney (part of Citigroup), MSCI, Morgan Stanley,and Merrill Lynch. These experiences not only equipped me with a strong foundation in finance but also instilled in me the importance of perseverance and consistency. I honed my skills in numeracy and developed a resilient mindset, which ultimately prepared me for a successful transition into the beauty industry.
What inspired you to gather data and insights into Nigerian women’s perspectives on the Beijing Platform for Action in 1995, and how has this mission shaped your commitment to empowering individuals through your work?
My inspiration stems from personal life experiences and the dynamics within my family. At one point, my uncles advised my father against providing me with a quality education. Instead, they urged him to use the resources to send them to Europe to improve their lives and suggested that I should be married o. However, my father chose a different path. He made significant sacrifices to enroll me in a Federal Government Girls’ College. As a unity school, I was sent to Gusau, in Sokoto State, where I witnessed firsthand the transformative power of educating the girl child.
My formative years in northern Nigeria fueled my desire to advocate women’s empowerment. Barely a year after completing secondary school, I had already embraced my passion for writing. As the President of our school’s press club and editor of “The Guzart,” our school magazine, I owe much of my development as a writer to Mr. Razak Olawale Bamidele (Mr. Rob). His unwavering commitment to our success during those crucial years was remarkable, and his guidance played a pivotal role in shaping my skills as a writer. Under his mentorship, I began gathering data and, through the support of Mrs. Julie Useni’s charity in the FCT, we were able to publish a book. I take great pride in being an author as a teenager, and looking back, I marvel at where I found the confidence. Passion and resilience drove me. I ventured into every corner to gather information for the project, determined to spark conversations among women and provide a proactive analysis of the Beijing Platform for Action—examining the hows, whys, and whens. At the time, I had no external motivation other than a deep desire to compare global data on women’s development with what we had in Nigeria. This passion laid the foundation for my lifelong dedication to women’s advancement in all spheres.
With your experience at institutions like Morgan Stanley and Bank of America/ Merrill Lynch, how do you leverage your finance background to drive success in the beauty industry, particularly in your role as CEO of Merit Multiservices Inc.? I learned the value of numbers, the power of perseverance, and the importance of never taking “no” for an answer. I also learned how to stand firm under pressure, refuse to be diminished, and, most importantly,
how to manage resources effectively. In today’s world, with rising tides and global inflation, making sound business decisions has become increasingly challenging. However, failure is not an option. We will persevere, even if it means removing obstacles along the way. As I always say, “As long as there’s life, there’s hope.”
How do you believe external appearance and inner confidence are interconnected, and how does your approach to beauty entrepreneurship reflect this belief?
The term cleanliness is next to godliness, comes to mind. When you look good, you feel good. it’s akin.. linked..it’s universal! No woman or even man I know, who has looked at themselves in the mirror, and knows deeply that the beauty standards they wish to uphold are exerted in whatever transforma tion they present
at that particular time, is happy! Beauty is skin deep and as such, magnified in our daily outlook. It doesn’t have to be via makeup or surgical enhancement, inner confidence is when you’re healthy and confident of your physical abilities.
Can you share some of the key contributions you have made to the beauty industry through entities like MakeupmavenNYNG, Milani Cosmetics Nigeria, and Beauty by Aubrey, and how these initiatives empower women and champion their talents?
We have utilised every possible resource to engage and train women in the beauty industry, leveraging partnerships with the beauty brands we collaborate with. Despite limited resources, rising exchange rates, and unpredictable market conditions, we seize every opportunity to create jobs and support aspiring makeup artists and small businesses.
The global economy is putting immense
We have utilised every possible resource to engage and train women in the beauty industry, leveraging partnerships with the beauty brands we collaborate with. Despite limited resources, rising exchange rates, and unpredictable market conditions, we seize every opportunity to create jobs and support aspiring makeup artists and small businesses
pressure on businesses, yet we survive today, keeping various brands afloat, driven by my unwavering passion for the beauty industry and women’s empowerment. Although we face significant challenges—no incentives, government funding, or substantial resources to sustain our initiatives for women—we persevere. The beauty industry is a powerful, fast-moving force, advancing at a supersonic speed. Nothing can halt its progress, and we are fully committed to harnessing its momentum to drive us forward.
As someone with a Master’s degree in sociology, how do you incorporate sociological principles into your business approach, especially in terms of understanding and addressing the needs of your customers?
Typically, the customer is both key and king, meaning they must always be treated with the utmost care and respect. However, in a market as complex as Nigeria’s, especially within a sensitive industry like beauty, it is crucial to navigate with wisdom. Each geopolitical region presents its own challenges, and we must remain cautious and mindful of our highly unpredictable economy.
The current economic climate is particularly harsh on entrepreneurs, leaving many of us struggling. Yet, in addition to these challenges, we must employ strong social skills to not only protect our customers but also maintain their loyalty. The ultimate goal is to stay in business. This means balancing customer care with financial sustainability. While safeguarding our clients, we must also carefully manage our income to ensure the longevity of our business.
Linda Onyesoh
Sanwo-Olu Emphasises Increased Credit as Catalyst for Sustainability
Nume Ekeghe
Lagos State Governor, Babajide Sanwo-Olu has emphasised the key role of credit in fostering.
He spoke at the inaugural National Credit Managers Conference and the annual Investiture of the Nigeria Credit Industry Awards, by the National Institute of Credit Administration (NICA) in Lagos.
The two-day conference themed, “Credit Grows Green Economy,” was widely attended by stakeholders from different sectors of the economy, and industry leaders who made presentations on strategies for integrating credit into sustainable development initiatives across the nation.
Sanwo-Olu who was represented by Alake Sanusi of Lagos Debt Management Office, stated that transitioning to a creditbased economy is essential for Nigeria’s growth, particularly in promoting environmentally friendly practices.
He said, “This event comes at a critical juncture in Nigeria’s economic journey, as we seek to transition from a predominantly cash-based economy to one that thrives on credit, an economy that is not just efficient, but also sustainable and inclusive.
“A green economy fueled by responsible credit practices aligns perfectly with our collective goal of fostering growth that
is environmentally sustainable, socially inclusive, and economically viable.”
Speaking, Vice President, Kashim Shettima, who was represented by his Technical Adviser on Economic and Financial Inclusion, Dr Nurudeen Zauro, formally unveiled the Credit Management Profession.
He stated that the recognition marks a significant step towards enhancing Nigeria’s credit landscape.
President and Chairman of the Governing Council, Andy Ojei, expressed immense pride in the advancements made within the credit profession and the institute’s commitment to fostering a sustainable credit ecosystem.
Access Bank Launches initiative to Boost Female Entrepreneurship Across 16 Countries
Nume Ekeghe
Access Bank has unveiled its “Power of 100 Africa” initiative, aimed at empowering 100 female entrepreneurs across 16 African nations.
The announcement was made by the bank’s Deputy Managing Director, Chizoma Okoli, during a press conference in Lagos.
Highlighting the bank’s longstanding commitment to women’s empowerment, Okoli stated, “This initiative reflects our dedication to empowering women, and we believe it will inspire the next generation of female leaders across Africa. The Power of 100 Africa project is designed to bring about positive change in the communities where these
women lead, and we are excited about the impact it will have.”
The initiative spans countries including; Nigeria, Ghana, Kenya, Mozambique, South Africa, and Zambia, spotlighting women pioneers who have broken barriers, driven innovation, and inspired others through leadership.
Group Head of Women Initiative and Emerging Businesses at Access Bank, Abiodun Olubitan, emphasised the project’s role in advancing female entrepreneurship, stating, “Empowering female entrepreneurs is critical to driving economic growth across Africa, and this project is an opportunity to recognize and celebrate their achievements.”
The nomination process,
overseen by Senior Manager in Business Advisory Services at Andersen in Nigeria, Utobong Hughes, is open to the public through an online platform.
“Nominees should be women who have had positive impacts, are pioneers in their field, or have broken new ground in their industry,” Hughes explained.
Non-Executive Director of Access Bank, Omosalewa Fajobi, reiterated the importance of promoting female leadership across the continent, adding, “We believe in women and their ability to create meaningful change. This initiative will not only recognise their contributions but also encourage the younger generation to aspire to leadership roles.”
Golden Terra Oil’s Campaign Wins Marketing Excellence Award
It was a night filled with glitz, glamour, and a dazzling celebration of marketing excellence. At the 2024 National Marketing Stakeholders Summit and Awards, Golden Terra Oil stole the spotlight, clinching the coveted Outstanding Campaign of the Year award.
The Balmoral Convention Centre at Sheraton Hotel, Ikeja, was abuzz with excitement on the 28th of September, as leaders from across the marketing industry gathered to honour innovation, creativity, and impact.
Golden Terra Oil’s “Pour Pure Love” campaign was the highlight of the night, reaffirming the brand’s commitment to excellence beyond borders. At the core of the campaign is the recognition of the dedication, love, and nurturing
spirit of mothers. Golden Terra Soya Oil understands the tireless efforts of mothers who go above and beyond to ensure that their families are fed with meals filled not just with nutrients, but with love and warmth. This campaign serves as a tribute to their unwavering commitment and as a celebration of the invaluable role they play in our lives.
The “Pour Pure Love” campaign had captured the hearts of consumers nationwide. A deep dive into consumers feedback online reveals how well-received the campaign was, with many praising its authentic message and relatable storytelling. The campaign’s creative angle focused on the simple yet profound act of using pure, healthy oil to care for loved ones. From heartwarming
commercials to engaging social media content, consumers felt a personal connection to the brand’s promise of quality and care. The campaign not only boosted brand affinity but also drove a significant spike in online engagement, with consumers sharing their cooking experiences and heartfelt moments with Golden Terra Oil.
Speaking on the award, Chief Marketing Officer, TGI Group, Probal Bhattacharya, remarked, “Developing the ‘Pour Pure Love’ campaign took an immense amount of thought and insight. We wanted to create something that resonated deeply with our consumers, connecting with their everyday experiences and the role food plays in nurturing relationships.
Dettol Partners FG, Wellbeing Foundation Africa to Promote Hand Hygiene
Mary Nnah
Dettol, Nigeria’s leading hygiene brand, has reaffirmed its commitment to promoting hand hygiene and advancing health practices nationwide.
In commemoration of the 2024 Global Handwashing Day, Dettol partnered with the Federal Ministry of Water Resources and Sanitation, Wellbeing Foundation Africa, and two of its WASH Access Accelerator beneficiaries, Kiddies ‘n’ Brands and Alora Pads.
The partnership aims to address Nigeria’s Water, Sanitation, and Hygiene (WASH) challenges and promote hygiene
education across the country.
According to Cassandra Uzo-Ogbugh, Head of External Affairs and Partnerships, Reckitt Sub-Saharan Africa, “At Dettol, we believe clean hands are the first line of defence against preventable diseases.”
Dettol has reached over 300,000 individuals through its Hygiene Quest Curriculum since 2021, educating school children, community members, pregnant and lactating mothers in healthcare facilities.
The company’s partnership with Wellbeing Foundation Africa has also promoted hygiene education across Lagos, Abuja,
and Kwara states.
Honourable Minister Joseph Terlumun Utsev, represented by Mr. Richard Pheelangwah, Permanent Secretary of the Ministry, emphasized the significance of hand hygiene in combating disease and promoting public health.
HRM Olori Adeola Agunbiade, Olori Alagbara of Agbara, representing the Founder and President of the Wellbeing Foundation Africa, Her Excellency Toyin Ojora Saraki, stated, “Our collaboration with Dettol has allowed us to extend our reach and work towards achieving SDG3, SDG6, and SDG17.”
Blend
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),
Murban (UAE)
Merey (Venezuela).
L-R: Director Banking Supervision Department, Central Bank of Nigeria (CBN), Dr. Adetona Adedeji; MD/ CEO, FSDH Merchant Bank, Mrs. Bukola Smith; Deputy Governor, Financial System Stability, CBN and Chairman FITC Board, Mr. Philip Ikeazor; MD/CEO, FITC, Dr. Chizor Malize and Company Secretary, FITC, Mr. Alaba Ekudayo during FITC’s Annual General Meeting (AGM) held in Lagos…recently
Caverton Group Records 9% Revenue Growth in FY 2023
Kayode Tokede
The operations of Caverton Offshore Support Group Plc was affected substantially by the fluctuations in exchange rate and high cost of doing business in Africa’s most populous nation in the financial year ended December 31, 2023.
Despite the tough terrain, the group recorded revenue of N31.99 billion, representing a growth of 9.4 percent compared
with N29.23 billion recorded in the financial year ended December 31, 2022.
The group’s gross profit in the review financial period ended December 31, 2023 stood at N7.2billion as against N3.69 billion recorded in 2022, increasing by 95 percent.
Loss after tax in the review financial year stood at 147 percent to N12.75 billion, from N5.16 billion in 2022.
Speaking to the performance,
Chief Executive Officer, Caverton Offshore Support Group Plc, Olabode Makanjuola, noted that the operating business environment in the country was quite challenging in 2023.
“Across the economy, businesses experienced rippling operating costs spawned by extensively higher inflation, a substantial devaluation of the Naira, and a rise in energy costs,” he noted.
Makanjuola, however, assured
shareholders who attended the virtual Annual General Meeting that the Group has taken proactive steps to mitigate the negative impacts and is confident in the strategies put in place for the future growth.
“As we move forward, we remain committed to the capitalising on the abundant opportunities available in the global and African markets. We will continue to deliver quality marine and aviation logistics
services to support companies whithin the oil and gas industry
“Our strategic focus will be on consolidating our market share in aviation and marine *secrirs* while exploring new and more profitable areas for investment,” he said.
Chairman, Caverton Group Plc, Aderemi Makanjuola, in his statement also assured shareholders that the group will continue to focus on operational efficiencies and cost management
which is crucial for maintaining profitability amidst fluctuating revenues. While responding to questions from shareholders, he said, “ The group is doing more to reap the benefits of diversification. We are building boats for customers at no cost to our company. We have entered into partnership with a Chinese company to make boat building more profitable and affordable for our customers as we now target electric boats.”
PRICES FOR SECURITIES TRADED ASOF OCTOBER 24/24
TickerPricePriceChg%
TickerPricePriceChg%
TickerVolumePriceChg%
TickerValuePriceChg%
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 23-October-2024, unless otherwise stated.
PERSPECTIVE
Matawalle: Is Dauda Lawal Governing or Gaming Zamfara?
Lewis Chukwuma
The North-West State of Zamfara is already burdened by the devastating effects of economic downturn and banditry - twin challenges that should fully engage the energy of any focused state chief executive.
But Governor Dauda Lawal has other ideas. Strangely, his main focus, not openly captured in his governance agenda, is unending war against his immediate predecessor and current Minister of State, Defence, Dr. Bello Matawalle.
Worse, Governor Lawal’s curious repudiation of badly needed transformative governance in Zamfara State, rather opting for needless internecine war against Dr. Matawalle, is not helped by boot-licking aides who have failed to advise him appropriately.
For example, Alhaji Faruk Ahmad, Senior Special Assistant to Governor Lawal on Public Mobilization and Enlightenment recently, strangely argued that the festering political conflict is not affecting the progress of the state, maintaining that the administration’s objectives were proceeding as planned. Not surprisingly, he didn’t offer any governance metrics to back up his claim.
What is now worrying many observers is that Governor Lawal is now apparently borrowing what some view as Donald Trump-like allegations against Dr. Matawalle. An example is that the governor recently even accused Matawalle of going to Sokoto instead of Zamfara in structuring urgent interventions in the insecurity arena.
But the governor conveniently or mischievously forgot that Matawalle’s security activities flow from a specific presidential directive ordering him and other security chiefs to relocate to Sokoto from where they will sanitise North-West security-wise. Lawal also conveniently forgot that Matawalle is not the Minister of Defence of Zamfara State.
Dr. Matawalle’s responsibility is national. The position of the Minister of Defense is particularly important because of the critical statutory content it drives. The ministry has the statutory responsibility of overseeing and supervising the nation’s armed forces. Its leader who is a cabinet-level head reports directly to the President. The Defense Ministry’s core mission is to provide timely and effective administrative and support services to enable the armed forces build and maintain a modern, compact, strong, professional, mission-capable and mission-ready forces, for national territorial/maritime/airspace defence and contributes to peacemaking and peace-keeping duties.
It could be recalled that President Bola Tinubu on September 1, ordered his Minister of State for Defence, Bello Matawalle, and the military chiefs to relocate to Sokoto State as part of efforts to rid the state and the entire north-west of rampant terrorism.
The north-west is arguably Nigeria’s most terrorised region with four of the region’s seven states among the
top five states with the highest number of kidnap incidents between July 2023 and June 2024.
Zamfara, Katsina and Kaduna recorded the highest numbers, with Sokoto coming fifth behind Abuja in fourth, according to the report by SBM Intelligence, a market intelligence, security analysis and strategic consulting firm. The presidential directive is part of an intensified effort to rid the North-west of the menace of banditry, kidnapping and terrorism. Matawalle certainly needs no distraction to carry out his onerous responsibilities.
Governor Lawal’s attack on Matawalle in this connection essentially questions President Tinubu’s wisdom in choosing Sokoto as the jump-off point in confronting insecurity in the Northwest zone. That both the president and Governor Lawal come from different political parties doesn’t excuse this unstatesmanlike vituperation.
Clearly, it’s very unwise playing politics with insecurity because it could consume everyone. Some observers point to the fact that Governor Lawal’s diversionary attacks on Matawalle is because he may actually pose a potent threat in the former reelection ambition in the next election cycle. But then, there should be a time for politics and time for governance. The governor clearly needs to stop going to TV stations and where he mounts shrill attacks on Dr. Matawalle.
The emerging multipartisan consensus in Zamfara State is that the ongoing political rivalry is negatively impacting the state, governance wise. Unfortunately, a strong perception is also emerging that Governor Dauda
Lawal has developed the habit of witch-hunting his predecessors, rather than concentrating on developing the state.
Many Zamfara folks are now insisting that the governor needs to concentrate more on developing the state and fighting against banditry rather than castigating his predecessors. Observers note that the ongoing feud between the governor and the defence minister has clearly exacerbated the political and security challenges facing Zamfara State.
At a deeper level, it would appear that the political drama surrounding their ‘rivalry’ underscores the complex dynamics at play in the state’s governance, and the urgent need for focused leadership to tackle the persistent problems of banditry and underdevelopment in that subnational enclave.
Another dimension in Governor Lawal’s war against Dr. Matawalle popped up when the governor curiously alleged that the defence minister is involved in the insecurity in the state. This was clearly crossing the line and Matawalle would have none of that.
Not a frivolous fellow to trifle with, Matawalle immediately demanded for a religious oath by Governor Dauda in the face of the governor’s spurious allegations that Matawalle is involved with banditry in the state. Matawalle challenged the governor to swear with the Holy Quran to prove his innocence regarding accusations of involvement in banditry. Governor Dauda has backed down from this challenge.
According to Matawalle, “I was the only governor to swear on the Holy
Quran that I have no hand in banditry. I challenged all politicians, including Dauda Lawal, to do the same. None of them could take the oath, and if they don’t take the oath, that means they are part of it.” There is more.
Also responding to the unfounded claims by Governor Dauda that Matawalle, as governor, embezzled N240 billion, the current Minister of State for Defence dismissed it as “absurd,” explaining that the total funds available to his administration over his four-year term were significantly less.
He remarked, “If I say the person who said it is crazy, I know you are not crazy. During my four years as governor, I didn’t even receive that amount of money.” Matawalle suggested that the accusation might be rooted in a failed contract involving Lawal himself from his time as governor.
For Governor Lawal, it is one week, one allegation. But significantly, they all turn out to be unfounded. Tired of the unending shenanigans of Governor Lawal, another former governor of the state, Senator Abdulaziz Yari, and a group known as Zamfara Elders Support for Peace and Development, urged the governor to shift his focus from attacking Matawalle to instead concentrate on effective governance and addressing the state’s security issues.
Senator Yari advised Lawal to emulate his predecessors, including Matawalle, who all faced the security challenges in Zamfara and did their best to address them. This stance surprised many observers of Zamfara politics, particularly given the historical animosity between Yari and Matawalle.
Since taking charge of Mr. President’s recent specific responsibility, Dr. Matawalle has assured the people of Sokoto, Katsina, Zamfara and Kebbi states and the entire North-west region that the security forces would leave no stone unturned in flushing out the bandits. His words: “I will be on ground in the North-west with the CDS and other military chiefs, leading our brave men and women in uniform. I also call on residents of these states to remain vigilant and cooperate with the security forces as the federal government has resolved to protect the lives and properties of all Nigerians. The security and well-being of the people remain the government’s top priority.”
Today, Matawalle is covering considerable grounds in overseeing the fight against insecurity in the country. Despite all the contrived attacks, he is standing firm. Dr. Matawalle covets knowledgedriven innovations, proactive engagement with stakeholders, relevant institutions, policy makers and more importantly, sure-footed action. These dimensions have been boldly mirrored in his leadership of the defence ministry despite the overarching challenges.
For the Zamfara State governor, Dauda Lawal, it would be best to stop gaming Zamfara and prioritise transformative governance.
Gov Lawal
AERONAUTICAL METEOROLOGY SCIENTIFIC CONFERENCE IN SWITZERLAND...
To Reduce Cost of Governance, Tinubu Issues New Directives to Ministers, Others
Approves maximum of three cars for them, okays attachment of five security men to each
Instructs NSA to ensure immediate reduction of ministers' vehicles, security deployment Cabinet reshuffle bold, audacious, says APGA, hails Bianca Ojukwu's appointment President should have increased female ministers, ActionAid says
Deji Elumoye, Michael Olugbode and Onyebuchi Ezigbo in Abuja
About 24 hours after reorganising his cabinet, President Bola Tinubu has introduced a new cost-cutting measure, restricting ministers and heads of agencies of the federal government to a maximum of three vehicles in their official convoys.
The directive, which was announced yesterday in a statement by the president, also indicated that no additional vehicles would be assigned to the public officials for movement.
In the directive, Tinubu also ordered all ministers and heads of agencies to have at most five security aides attached to them.
He said the security team would comprise four police officers and one Department of State Services (DSS) officer, stating that no additional security person would be assigned.
The president instructed the National Security Adviser (NSA), Malam Nuhu Ribadu, to engage with the military, paramilitary and other security agencies to determine a suitable reduction in the vehicles and security personnel
LAPO Says it has
N1.4trn
Kuni Tyessi in Abuja
A microcredit facility, Life Above Poverty Organization, LAPO, has revealed that in its continued fight to eradicate poverty, it has disbursed over N1.4 trillion in microcredit to low-income earners since its establishment in 1987. It said other beneficiaries include petty traders, small holder farmers, and small businesses across the country that are contributing significantly to economic stimulation and national prosperity.
LAPO, a leading nongovernmental organization, stated
deployment of his appointees.
All affected officials were expected to comply with the new orders immediately, underscoring the urgency and seriousness of the changes.
In January, Tinubu took significant steps to reduce government expenditure, by reducing his entourage on foreign trips from 50 to 20 officials. For local trips, he reduced it to 25 officials.
Similarly, he reduced the vice president’s entourage to five officials on foreign trips and 15 for local trips.
APGA: Ministerial
Reshuffle Audacious
All Progressives Grand Alliance (APGA) commended Tinubu's ministerial reshuffle, which saw the appointment of Mrs. Bianca Ojukwu, wife of the party’s former national leader emerge as a minister.
APGA described the move by the president as bold and audacious, and something that could lift the country out of its present economic challenges.
Ojukwu's wife was among the seven new ministers whose
Disbursed
Over
to Low Income Earners
this yesterday through its Head, Programme and Communications, Dr. James-Wisdom Abhulimen ahead of its 31st Annual Development Forum on Thursday, October 24, 2024.
He said this year’s forum, themed "Paradox of Poverty in a 'Wealthy Nation': Policy Issues & Perspectives," aims to explore Nigeria’s persistent poverty amid vast economic potential.
The LAPO Development Forum aligns with the International Day for the Eradication of Poverty and has, since its inception in 1994, become a premier platform
for addressing poverty and development challenges in Nigeria and Africa.
He said: "Since its establishment in 1987, LAPO has disbursed over 1.4 trillion in microcredit to low-income earners, including petty traders, small holder farmers, and small businesses across the country, contributing significantly to economic stimulation and national prosperity.
"It provides a platform for stakeholders to critically analyze this paradox and discuss actionable strategies to foster an inclusive, prosperous future.
"The 2024 edition offers an important opportunity for stakeholders to engage in meaningful dialogue and chart pathways toward sustainable development and wealth creation.”
This year’s conference will be chaired by former governor of Edo State, John Odigie-Oyegun, while the Country Director of ActionAid Nigeria, Mr. Andrew Mamedu will deliver the keynote address. Also expected to attend the event is the Minister of State for Agriculture, Sen. Aliyu Sabi Abdullahi, who will serve as the Special Guest of Honour.
Elumelu to Headline Maiden Conference for Women in Insurance
Heirs insurance group emerges lead sponsor
James Emejo
The Chairperson, Heirs Insurance Brokers, Dr. Awele Elumelu, is expected to deliver the keynote address at the inaugural International Conference for Women in Insurance hosted by the Africa Insurance Women Association (AIWA).
As part of its commitment to fostering gender inclusion in the insurance industry, Heirs Insurance Group, Nigeria's fastest-growing insurance group is lead sponsor of the august event, scheduled to hold between November 2-6, 2024 in Lagos. Elumelu, a leading voice in healthcare and insurance, will share
insights on the challenges women face, the immense opportunities available for female professionals in the sector, and the critical role they play in driving access to insurance.
Commenting on the sponsorship, Chief Marketing Officer, Heirs Insurance Group, Ifesinachi Okpagu, said, "At Heirs Insurance Group, inclusion has always been one of our pillars. We are driving inclusive insurance, ensuring not just access to financial security, but empowerment, regardless of gender or economic standing.
“We commend the African Insurance Women Association for this initiative. We need more opportunities
such as this, to change the narrative and we look forward to the important dialogues at the conference."
According to her, the group had been at the forefront of championing gender inclusion, demonstrating its commitment amplifying the voices of women in the insurance industry and beyond.
It has actively rolled out initiatives and products that address the needs of all genders and all demographics, ensuring social, economic and gender inclusion. These efforts reflect its purpose to improve lives and transform the country.
The group recently released its three-year impact documentary,
capturing its transformative journey since its launch to the public.
The inspiring story also showcases the men and women behind the group, employees whose invaluable commitment have contributed to its success.
The group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents, founded and led by Mr. Tony Elumelu.
With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.
appointments were unveiled by Tinubu on Wednesday.
National Chairman of APGA, Sylvester Ezeokenwa, in an interview with THISDAY, said the appointment was a welcome development and a sign that the president was ready to look beyond partisan consideration to find solutions to the numerous challenges facing the country.
Ezeokenwa said, "It's a very welcome development. I wouldn't have been more proud as the chairman of the party. Bianca Ojukwu is one of our most revered members – very iconic, very striking.
“A woman with many sterling qualities and the wife of our foremost national leader, Dim Chukwuemeka Odimegwu Ojukwu, who both in life and death we have him as our national leader."
Ezeokenwa stated that the appointment of Ojukwu's wife and others not affiliated to the ruling All Progressives Congress (APC) was of
great significance and something that could help bring about improvement in governance. He said in trying to perform the expected magic, the president must look beyond partisan politics and party affiliation to shop for credible Nigerians with what it takes to rescue the country from the current economic situation.
ActionAid Nigeria decried the non-increase in the ministerial slot to women after Tinubu’s recent cabinet shakeup.
Country Director, ActionAid Nigeria, Andrew Mamedu, in a statement, said the organisation “acknowledges the recent cabinet reshuffling, along with the disbandment and merging of some ministries, as an effort towards recalibrating governance”.
Nigeria-Vietnam Business Group Holds Meeting to Improve Bilateral Trade
The Embassy of the Socialist Republic of Vietnam in collaboration with the Nigeria-Vietnam Economic, Trade and Cultural Association, (NVETCA) will be holding a high-level Round Table Business Meeting on the 30th of October 2024 in Abuja to improve the bilateral trade and economic relations between the two countries.
The meeting, which is being co-hosted by the Vietnamese Ambassador, H.E. Bui Quoc Hung and the Chairman of NVETCA, Ambassador Sani Bako MFR, mni, intends to focus on harnessing more trade areas, particularly in agriculture, food processing, import and export, manufacturing, infrastructure, and information technology.
According to a statement by Wale Akintade, the Group’s Director of Strategic Communications and Marketing, “both countries now more than ever before need to harness their potentials with the view to finding more meaningful and deeper ways of forging mutually beneficial means of trade and collaboration”.
“Since Nigeria established diplomatic relations with Vietnam in 1976, trade has only centered around
a few commodities and in a few sectors despite the huge potentials available for trade and economic growth between both countries”.
According to Wale Akintade, “the business round table presents a fantastic opportunity for economic growth and cooperation. Nigeria's strengths in oil and gas and huge potentials in agriculture and manufacturing can complement Vietnam's expertise in technology, textiles, and electronics.
“Vietnam's experience in exporting goods to the US and China can also help Nigeria expand its global market reach appreciably. The key areas being looked at strengthening include Agricultural Trade, where Nigeria can export cashews, cocoa, and other products to Vietnam, while importing machinery, technology and the exchange of agricultural experts to boost local production and processing of these; Energy Cooperation where Nigeria's oil and gas reserves and Vietnam's expertise in renewable energy can help reduce the present energy crisis in the country.”
in Abuja
L-R: Permanent Representative of Nigeria to the United Nations, Ambassador Abiodun Richard Adejola; Secretary General of the World Meteorological Organisation (WMO), Professor Celeste Saulo; Minister of Aviation and Aerospace Development, Festus Keyamo; and Director General of the Nigeria Meteorological Agency, during the Aeronautical Meteorology Scientific Conference in Switzerland…recently
LAUNCH OF THE INSUREASE APP POWERED BY TRANSPARENCY SCAPE INSURANCE BROKERS...
UNICEF: Unvaccinated Children Hits Two million in Nigeria
Kano, Katsina, Jigawa lead with 556,750 UNICEF unveils "No More Zero Dose" song
Francis Sardauna in Katsina
Miffed by the alarming rate of unvaccinated children in Nigeria, the United Nations Children's Fund (UNICEF) has launched a song entitled 'No More Zero Dose' as part of efforts to improve immunisation coverage in the country.
The song, featured by renowned artists like Cobhams, WAJE, Master Soumy, Sekouba Bambino, Stanley Enow, Mawndoe, Spyro, Timi Dakolo, Omawumi, Qing Madi, Kate Henshaw and Ali Nuhu, was launched in Kano on Thursday
The unveiling of the song, which was done simultaneously in Nigeria and across West African and Central States, was witnessed by journalists from Katsina, Kano and Jigawa States, aimed to further create awareness on the importance of immunisation.
Speaking during the event, the Chief of UNICEF Field Office, Kano, Mr. Rahama Mohammed, revealed that despite progress made in improving immunisation in Nigeria, the country was still battling with two million zero-dose children.
He said out of the two million zero-dose children, Katsina, Kano and Jigawa states have 556,750, decrying that the affected children were at substantial risk of many vaccine-preventable diseases, including polio.
The UNICEF chief of field office further explained that Kano State leads with 280,281 zero-dose children followed by Katsina with 171,491 and Jigawa state with 104,978 unvaccinated children.
Mohammed said: "For Nigeria, this song is significant because despite the progress made in
Energy Crisis: Experts Call for Innovative Measures in Tertiary Institutions
Funmi Ogundare
Stakeholders in the education, energy, communication, and financial sectors, yesterday, called for the availability of affordable and stable power supply in the delivery of impactful education to all who yearn for knowledge.
They made this known at the Education Writers' Association of Nigeria (EWAN) 2024 annual summit held at the University of Lagos (UNILAG), themed 'High Tariffs: Resolving Electricity Crisis in Nigeria's Education Institutions'.
In her remarks, the Vice Chancellor, University of Lagos, Prof. Folashade Ogunsola, acknowledged that the theme reflects an existential threat to education describing energy crisis as a national issue which also affects other sectors.
She noted that education is fundamental and should be spared from agony of unstable and expensive power supply which impedes the delivery of evidence-based knowledge to Nigerians.
Prof. Ogunsola noted that most universities and educational institutions are in debt due to accumulating power tariffs.
The Minister of State for Education, Yusuf Sununu, expressed optimism that the summit will push forward innovative measures to tackle the energy supply problems.
He hinted that as part of the government's commitment, the federal Ministry of Education is engaging the public-private partnership model to address the issue, especially in the school systems.
Addressing the ongoing power supply challenges plaguing the nation, the spokesperson of the Association of Nigeria Electricity Distributors (ANED), Sunday Oduntan, emphasized that while Nigerians are desperate for reliable power, their reluctance to pay current tariff is inimical to the growth of the nation's power sector.
According to him, "While the aim is to provide a minimum of 20 hours of electricity, financial constraints have hindered progress."
improving immunisation, Nigeria continues to face challenges in getting all eligible children vaccinated.
"For instance, across Kano, Jigawa and Katsina states, we
have a total of over a half million (556,750) Zero Dose children: Kano -280,281; Katsina - 171,491; and Jigawa -104,978."
He, however, called on the affected state governments to
strengthen their healthcare systems, routine immunisation, and ensure the extension of basic healthcare services to every ward.
Mohammed admonished traditional and social media,
Kannywood, singers and influencers to deploy their channels and platforms effectively to ensure that the No More Zero
Song goes viral and is widely disseminated.
FG Wary of Importation of Wild Polio Virus from Pakistan, Afghanistan
Offor advocates surveillance, commitment in tackling scourge
Olawale Ajimotokan in Abuja
The federal government has pledged to ensure that the immunity of children against Polio remains high because of concern about Afghanistan and Pakistan where the virus is yet to be eradicated.
The Coordinating Minister of Health and Social Welfare, Prof Mohammed Ali Pate, disclosed this yesterday at a media briefing on celebration of 2024 Polio Day organised by Rotary International Polio Ambassador to Nigeria, Sir Emeka Offor.
"Besides the two South East Asia countries that are yet to eradicate
wild Polio virus, we also have the variant of the virus still in few areas, where children have not been sufficiently immunised. We need to intensify so that every child will have a chance to be protected against this dearly disease," Pate said.
He noted that protecting the Nigerian population from vaccine preventable disease will allow children to survive and thrive in the light of the administration's health sector transformation-the renewed health initiative- that is on the way.
In his remarks, Offor warned of the danger of the scourge with cases still recorded in Afghanistan
and Pakistan, saying the situation calls for more surveillance, advocacy and renewed commitment from government at all levels in conjunction with NGOs.
He noted that through the determined efforts of Rotary international and global partners in the Global Polio Eradication Initiative (GPEI) a remarkable reduction in polio virus cases had been achieved since 1988.
He said the Sir Emeka Offor Foundation had been at the forefront of the fight and was working tirelessly with partners to train and equip healthcare workers for effective service delivery and partner
traditional and religious leaders to build trust and acceptance.
He said the path to complete eradication of polio requires sustained effort and total commitment and pledged that the foundation will continue to support the mission until it achieves the goal of a polio free world.
Also, former Minister of Culture, Prince Adetokunbo Kayode SAN, said the elimination of Polio in Nigeria should be celebrated like a made in Nigeria achievement.
"Polio is like an injustice and a death sentence that must be fought wherever it rears its head," Kayode said.
Boat Mishaps: FG Increases Number of Water Marshals
to 350 Personnel to Manage Major Flashpoints
As NIWA currently revitalising 7 search and rescue centres
Kasim Sumaina in Abuja
The federal government on Thursday in Abuja said it has within the last four months launched and increased the number of water marshals from 80 to 350 personnel to manage major flashpoints across the nation.
This was even as the government added that the National Inland Waterways Authority (NIWA) was currently revitalising seven (7) search and rescue centres inherited by the Bola Ahmed Tinubu administration.
In his welcome speech at the stakeholders' meeting on Safety and Insecurity on Inland Waterways in Nigeria, the Minister of Marine and
Blue Economy, Adegboyega Oyetola, noted: "In our bid to protect the lives and goods of commuters on the inland waterways, we have ensured that the Transportation Code, 2023, was gazetted.
"To give a bite to the code, these officers have been further directed to begin 24-hour surveillance across major jetties and loading points within the inland waterways."
According to him, similarly, just few days ago, the ministry approved for NIWA, the engagement of private organisations, through public advertisement, to help strengthen efforts at ensuring accident-free inland waterways.
He further said: "As I welcome all of you to this strategic solutionseeking meeting organised by the Ministry of Marine and Blue Economy to inject fresh ideas into the transportation sector of the inland waterways, especially as it relates to safety and security, I want to say that government genuinely sympathise with families of victims who has lost their lives on our waterways. “As a ministry, we are doing everything possible to avoid a repeat of the sad accidents. I am confident that with the cooperation of the states, these accidents will become things of the past by the Grace of God."
He also explained that in June this year, "you will recall that we commissioned fifteen (15) boats of varying capacities and uses, including three (3) security patrol boats; five (5) high-capacity boats for enforcement of safety rules; one (1) Gun Patrol Boat (combat ready); one (1) 62-seater passenger boat (as a pilot scheme); three (3) fully equipped water ambulances; and two (2) hydrographic survey boats. "These we did in quick response to the obvious challenges on the inland waterways. Also, through the 2024 budget, NIWA is currently revitalising 7 search and rescue centres inherited by this administration.
Dose
L-R: Business Operations Manager, Transcape Brokers, Mojisola Idowu; Chief Operations Officer, Transcape Brokers, Olufela Olurin; Project Management Consultant/Non-Executive Director, Transcape Brokers, Prince Ayodele Ifaturoti; Managing/CEO, Transcape Brokers, Oluseyi Ifaturoti; Business Manager, Transcape Brokers, Adekemi Adeboye; and Product Manager, Transcape Brokers, Nuhu Amina, at the launch of the InsurEase
App powered by Transparency Scape Insurance Brokers held in Lagos…recently
N80,000 NEW MINIMUM WAGE FOR
ENUGU WORKERS...
new state minimum
Mbah Approves N80,000 Minimum Wage for Enugu Workers, Effective Oct 2024
LG workers, primary school teachers included It’s unprecedented to earn above minimum wage in Enugu, says Labour ALGON: We’ll commence implementation immediately
Governor Peter Mbah of Enugu State has approved N80,000 minimum wage for the state's work force, including local government workers, effective October 2024, noting a direct link between a motivated workforce and his administration’s vision of growing the state’s economy from $4.4bn to $30bn.
The new minimum wage covers all state employees, primary school teachers, and local government workers.
Mbah announced the new minimum wage on Thursday after a meeting with the Enugu State Minimum Wage Implementation Committee headed by the Head of Service, Kenneth Ugwu and labour leaders, including the state’s labour leaders.
Mbah said: “Few weeks ago, I inaugurated a committee with the responsibility to oversee the implementation of the New National Minimum Wage in Enugu State.
“We have approved the sum of N80,000 as the new minimum wage in Enugu State. This underscores our commitment to bequeathing lasting legacies of improved living conditions.
“Our commitment to improved workers’ welfare runs deep, and is rooted in the firm understanding
“Today, I’m happy to announce a new minimum wage for workers in Enugu State, reflecting our fidelity to their welfare, in regard of which we have been resolutely committed.
Stakeholders Push for Nigeria’s Representation at COP29 to Boost Country’s Heritage
Industry stakeholders have stressed the need for Nigeria’s representation at the 2024 United Nations Climate Change Conference, also known as COP29, which is slated to hold in Baku, Azerbaijan from 11 to 22 November, 2024.
Worried that Nigeria does not have any of her heritages recognised and represented in its climate and environmental policies, they urged the country to discuss issues that will compel Nigerian government to recognise heritage in her climate change policies.
The stakeholders said this in Lagos, during a symposium on: ‘Nigeria Heritage in the Time of Climate Change’ convened by a researcher in heritage and member of International Council of Monuments
and Sites (ICOMOS), Mr. Olufemi Adetunji.
The stakeholders want heritage professionals involved in the planning and implementation of many of the climate change interventions, to express their interest to participate in COP29, to be able them discuss matters that will ensure that heritage is well recognised in climate change policies in Nigeria.
“I convened the programme to create opportunity for organisations and professionals involved in conservation and protection of heritage in Nigeria to have opportunity to network, collaborate, and share ideas to protect and better manage many heritage sites, both tangible and intangible, that we have in Nigeria.
“Not mainly to protect them alone, but to leverage on their
values and their significance within our communities for social and economic as well as environmental empowerment for individuals and communities all around Nigeria,” Olatunji said.
Chief Executive, National Institute for Cultural Orientation (NICO), Biodun Ajiboye, spoke on the effect of climate change on Nigeria’s heritage and the entire humanity.
According to him, the danger of flooding has forced migration and displacement of entire communities.
He therefore suggested that Nigeria must tap into the ecological fund that is constitutionally provided for in the budget provision; strengthen partnerships and synergies by applying for the world heritage fund at UNESCO headquarters in Paris, France and the African world
heritage fund in South Africa. Ajiboye called for the establishment of a network of sustainable development by creating a multipronged energy system of hydro, wind, electric and solar alternatives as renewable sources of energy.
Coordinator, National Museum, Nkechi Adedeji, who represented the Director General of National Museum, said the impact of global warming or climate change is evident in extreme weather conditions, such as increased temperature, rainfall, wind, humidity, erosion, soil depletion and deforestation, are negatively impacting on our cultural and natural heritage.
According to her, the damages include, but not exhaustively, cracks on the walls of existing monuments.
House Passes Bill to Amend TETfund Act for Second Reading
Adedayo Akinwale in Abuja
The House of Representatives on Thursday passed for second reading the Tertiary Education Trust Fund Establishment Act (Amendment) Bill.
The bill sponsored by the Speaker, Hon. Abass Tajudeen and Hon. Babajide Benson, seeks to amend the TETfund Act 2011 to provide for additional conditions
for accessing funds for capital projects by beneficiary institutions in Nigeria. Leading the debate on the Bill, Benson said TETfund was established by the Tertiary Education Trust Fund (Establishment) Act 2011 to disburse, manage and monitor education tax to government owned tertiary institutions in Nigeria as a way of addressing
the lack of, or poor funding of government institutions hitherto. He explained that the quest to address decay of infrastructure, lack of conducive environment for teaching and learning leading to very low morale of both academic and non-academic staff of higher institutions in Nigeria birthed TETfund as an intervention agency.
Benson, however, lamented that
constant experience has shown that lack of capacity, integrity, laziness and misappropriation of funds characterised many of the government owned institutions. He argued that the objective of TETfund is not to take over infrastructural development in tertiary institutions, but to assist in addressing infrastructural deficits where the institutions have challenges.
of the inextricable link between an inspired workforce and the audacious economic targets we had set our sights on.
“We clearly understood that reducing poverty to the barest minimum and achieving an unprecedented economic growth target were contingent on the output of the workforce.
“Therefore, for us, the best way to acknowledge that labour creates wealth is by ensuring that the workforce, which creates the wealth that oils the wheel of government, is sufficiently motivated.
“We have similarly demonstrated our commitment to workers welfare through the consistent payment of the wage awards, a gesture we had pledged to sustain until a new wage structure took effect.”
Speaking, the Chairman of the Enugu State Chapter of the Nigeria Labour Congress, NLC, Comrade Fabian Nwigbo, thanked Governor
Mbah for always prioritising the welfare of workers, describing the new minimum wage as “a great one for Enugu workers.”
His words: “In the past, when minimum wage is announced, it takes up to one or two years for anything to happen; and when it did, we took anything they gave us as we saw it. But today, you have even given us something much higher than national minimum wage.
“But I am not totally surprised because when other governors were paying N12,000 wage award, you were paying us N25,000. When others paid for some months and stopped, you continued paying it until the new minium wage as you promised.
“So, we have enjoyed wage award for 11 months and today you announced the minimum wage which is the first of its kind since my 32 years in service.”.
Traditional Rulers Clash in Ebonyi
Benjamin Nworie in Abakaliki
The traditional ruler of Ezekunna Community, HRH Ezeogo Innocent Nworie and his counterpart of Ezzagu Community, HRH Ezeogo Chinedu Nwankwo in Ishielu Local Government Area of Ebonyi State were at daggers drawn on overriding control and headship of Eguho "community".
Though not an autonomous community, Eguho comprises 13 villages cohabitated by the people of Ezekunna and Ezzagu communities under the two monarchs.
However, all efforts for Eguho to gain autonomous community status out of the two communities failed during the administration of the first civilian governor of the state, Dr. Sam Egwu.
Meanwhile, crisis ensued when Ezeogo Chinedu Nwankwo of Ezzagu community stormed Eguho to conduct the election of the home branch executives, claiming that his Ezekunna counterpart authorized
him to oversee the affairs of the place. But Ezeogo Nworie in his swift reaction through a letter tagged "Call to Order" dated October 10, 2024 and was addressed to Ezeogo Chinedu Nwankwo, denied that he never delegated his counterpart to act, interfere and or oversee any activities going on in Eguho.
The letter read in part: "I write to advise that you stay off from every territorial encroachment within my community Ezekunna. I want to state categorically that henceforth I don't want you to interfere on issues within my community which Eguho is inclusive.
"The boundaries of Ezekunna and Ezzagu is at the Slaughter House down to Aguobodo and Obegu Isu. I wish to state categorically clear that I am physically fit and sound to discharge my duties as the traditional ruler of Ezekunna community and have never in any way abdicated my duties nor delegated my functions to you as claimed.
Emma Okonji
L-R: Vice Chairman, ALGON, Enugu State chapter, Hon. Ferdinand Ukwueze; Chairman, ALGON, Hon. Okechukwu Edeh; Chairman, TUC, Enugu State, Comrade Ben Adogwa; Governor of Enugu State, Dr. Peter Mbah; Chairman, NLC, Enugu State, Comrade Fabian Nwigbo; Chairman, Joint Public Service Negotiating Council, Comrade Ezekiel Omeh; Chairman, NULGE, Enugu State, Comrade Udaya Ani and the Head of Service, Mr. Kenneth Ugwu, during the announcement of N80,000
wage at the Government House, Enugu, Thursday.
VISIT OF THE PRIME MINISTER OF GRENADA TO NIGERIA...
Obaseki Runs One of Nigeria’s Most Transparent Govts, Says Nehikhare
Says APC transition committee dazed by documentation of projects, others
Commissioner for Communication and Orientation in Edo State, Chris Osa Nehikhare, said Governor Godwin Obaseki ran one of the most transparent and prudent governments in the country.
He spoke to journalists in Benin City, the Edo State capital.
The commissioner decried the absence of Okpebholo's transition committee from the joint transition session with the team of the state government,
Nehikhare said members of the transition committee of Senator Monday Okpebholo were dazed and overwhelmed by the documentation of projects and other achievements of the government.
for the second consecutive day.
He said the narrative that Okpebholo’s team boycotted the joint sessions over failure of the government team to provide necessary documents was false.
Nehikhare stated that the state government had provided both digital and hardcopy documents to the APC team, who were only
overwhelmed by the level of documentation of projects and achievements in the last eight years.
Displaying some of the documents in hard copy made available to the APC transition team, Nehikhare insisted that the team must realise that they were a transition and not an inquisitive committee.
He stated, "We are here again for another transition committee meeting, and as we have noticed yet again that it's only the Edo State Government Transition Team that is present, while that of the APC are yet to arrive at the venue of the meeting after over two hours of waiting.
government is leaving power, it hands over power smoothly and orderly to the next government.
"When handing over power, you are not just handing over the instrumentality of power but everything you have done while in government, to showcase what you have done, the achievement and challenges faced while in power.”
NCAA Has Recorded 65% Case Resolutions in Flight Disruptions, Says Its
Kasim Sumaina in Abuja
The acting Director General, Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo, yesterday, hinted that the authority had achieved a 65 per cent case resolutions of issues relating to flight disruptions in less than a year in office.
Najomo said since assuming office in December 2023, the first 100 cases that came to the Authority, 75% of them were resolved within 10 days.
He added that a lot of the cases were resolved on the spot by the
Flight and Operations Adjudication unit, who were majorly responsible for interfacing with the airlines in resolving the cases.
"But, we have the consumer protection officers at 23 terminals across the country and they resolve these cases at the terminals that did not need to get to our unit,” he said.
The NCAA boss, while briefing the press on airlines consumer complaints resolution and issues relating to flight disruptions in Abuja, further advised airline passengers and other regulatory agencies interested in consumer-
DG, Najomo
related issues in aviation to study and understand the NCAA regulatory provisions governing consumer protection.
The authority reckoned that with more informed passengers and stakeholders, issues around passengers’ rights would be better understood.
Represented by the Director of Public Affairs and Consumer Protection (NCAA) Mr. Michael Achimugu, he said, “passengers must study the 19 of the NCAA regulation to know their rights and responsibilities. If you know your rights, you can always access
them because most of the time, the airlines won’t inform you of your benefits"
The regulation, he said, provided for timelines and compensations in resolving different passenger complaints.
“We want to address the issue of time frame in resolving passenger complaints. We have noticed over time that passengers and other government agencies who forward complaints to the NCAA do not seem to understand the concept of time within the NCAA regulatory framework and aviation regulations globally.”
Again, Gunmen Attack Awka, Kill Seven
Less than one week after gunmen suspected to be cultists killed about 16 people near Awka in Nibo community, during a traditional festival, seven more were yesterday killed in the city.
A source said what could be described as a shooting spree happened in the morning at about 9:15am, leaving about seven persons dead.
One of the sources, a student said the shooting happened in Ifite Awka, an area dominated mostly by students of Nnamdi Azikiwe University, Awka, adding
that the shooting might not be unconnected to cultism.
Another source said the shooting happened at Ifite, close to the back gate of Unizik, Awka, not far away from Wintess Garden Hotel, Ifite Amansea Road.
One of the sources said, "Gunmen just shot a guy a few minutes ago at Ifite, Awka. He's lying lifeless."
Another eyewitness, a lecturer, said she witnessed seven lifeless bodies in the area and was forced to abandon lectures and turn back while en route to school.
It is however not clear the actual number of victims involved in
the shooting, but the State Police Public Relations Officer, Tochukwu Ikenga, confirmed that incident happened, and that a police response team had taken over the scene and further details will be communicated.
In another press statement, Ikenga said the command intercepted some videos and voice notes of persons who claimed would unleash violence on Awka, and were working to ensure that it was thwarted.
"Anambra State Police Command begins investigation on some intercepted videos and voice notes on social media space
threatening violence in the state.
"The Police Command not taking those clips for granted and saddled with the responsibility of maintaining law and order shall live up to its mandate of ensuring that no person or group of persons is allowed to infringe on the fundamental human rights of others.
"Given the above, Police and Other Security Forces have intensified patrols, and improved security dominance and surveillance to enforce the law, maintain Public Order, Public Safety and other Support Services in the State," he said.
"Before the transition meeting started, we had to basically harass the APC to send us a list of their members and it took them days to respond. The Edo State government did all that because it's the civilised thing to do. If a
Nehikhare added, “We are only having this problem because our brothers from the other side most likely are not prepared for the kind of projects and achievements they saw in our documentation.”
Three Students Emerge Winners of Agusto & Co’s Maiden Educational Grant
Sunday Ehigiator
Three students of Methodist Boys High School, Omamogho Ajufuntsi, Fahm Aremu, and Ogunsola Oladimeji have emerged winners of the maiden edition of the 'Olabode Mubasheer Agusto Educational Grant'.
The grant which covers a period of 3 years (SS1 to SS3), was established in honour of the life and legacy of Mr. Olabode Mubasheee Agusto, who was an old-boy of Methodist Boys High School and the founder of Agusto & Co.
In her remarks, the Managing Director, Agusto & Co, Mrs: Yinka Adelekan said: "Today marks a day before the anniversary of the passing away of the founder of Agusto & Company Ltd, Mr. Olabode Agusto, and the essence of launching an educational grant in his honour is because we knew what he stood for in terms of education.
"Bode Agusto believed that education was the bedrock that would change our society, and today, we give back to his almamata.
"We believe that his alma-mata was very important in the creation of who he became while he was on earth.
"Today, we are giving three beneficiaries, who are students of Methodist Boys High School, who, because of financial constraints or mishap in the family, are unable to continue the studentship of this school.
"What we have done is to provide the means for them to complete their education at the school.
"This is the first edition, and we will be running it for the next five years by sponsoring three students' education every year through SS 1 to SS 3 for the next five years."
Speaking more about the grant, Human Resources Business Partner of Agusto & Co, Dapo Fajemirokun noted that, "the grant is a form of financial aid facilitated by Agusto & Co to assist eligible students from Methodist Boys High School.
"As Mr. Agusto would say, 'let your load be light'; the scheme will attempt to 'lighten the load' of parents and guardians of deserving students; students that are sound academically, by paying their tuition fees from SS1 to SS3 classes.
"The grant will kick off this year and will be available to 3 students annually for the next 3 years, and this initial run will elapse in five years."
David-Chyddy Eleke in Awka
L-R: Legal Counsellor, Consulate of Grenada, Olayemi Oyebola; Prime Minister of Grenada, Dickon Thomas Mitchell; Consulate of Grenada in Nigeria, Ambassador Abidemi Oluwagbemiga Sonoiki; and Head of Protocol, Consulate of Grenada, Olajide Kehinde, during the prime minister’s visit to Nigeria…recently
ROTARY CLUB'S POLIO AT ZERO WALK AND CAMPAIGN...
L-R: Director Youth Service for Rotary Club of Abuja Gwarimpa, Rotarian Charles Chijioke; Assistant District Governor,
Scrapping N'Delta Ministry Means Nothing,
Declares Clark as PANDEF Decries Neglect
Urges Niger Deltans on unity
Ibunge
The national leader of Pan Niger Delta Forum (PANDEF), Chief Edwin Clark, has insisted that the recent scrapping of the Ministry of Niger Delta by President Bola Tinubu, meant nothing to the people of the region. Clark, who spoke yesterday via telephone, at special general assembly organised by PANDEF in Port Harcourt, Rivers State, said the announcement on the development did not come to the people as a surprise, insisting that the current government has never included the region in decision making. "Today they declare us as arrogant when we ask for our right. Could you imagine that I was sleeping last night when I woke up to hear that they have again scrapped the Niger Delta Ministry. “It didn’t come to me as a surprise because when they did it the first time, they were hardly in office. Up till now, the have not provided an investigation. They have provided nothing. So, scrapping it now means nothing to us."
"Nigeria is divided across the lines of ethnicity, along the lines of religion, hunger and everything that you can think of. Today, Nigeria no longer has middle class. The wealthy has carried away the wealth. They seized our oil wells. So, we are nowhere.
Speaking on the economic hardship in the country, Clark said the people of the region were worst affected because the source of their livelihood has been devastated, stressing that Niger Delta people have not benefited from the resources in their land as much as people from other region.
"Can you imagine that a man like me, two, three years ago, if I want anything from the oil companies, from the oil industry, I have to travel to Daura (hometown of former President Muhammadu Buhari) to meet with Mr President who will then grant me.
“What type of country do we belong to. A country where we have no respect for one another. They think it is right. And this is
still continuing. Along the line I have mentioned how herdsmen and Boko Haram came in.
“Some of them confessed how Boko Haram came, they brought it to threaten the government of Goodluck Jonathan. Luckily enough, Jonathan was able to drive them away. He sent them away before he left office.
"There are many problems to face in Nigeria. Imagine producing fish but no more fish to eat. Imagine producing meat but no more good food to eat and all that."
In his remarks, Former Governor of Akwa-Ibom State, Victor Attah, expressed sadness that the Niger Delta ministry was abolished without notice to stakeholders in the region.
INEC Holds Mock Accreditation November 6 Ahead Ondo State Governorship Election
Adedayo Akinwale in Abuja
The Independent National Electoral Commission (INEC),has announced that it would conduct mock accreditation of voters for the Ondo State governorship election on Wednesday, November 6, some clear 10 days to the election itself. INEC National Commissioner and Chairman, Information and Voter Education Committee, Sam Olumekun, in a statement said the mock exercise would be held at the designated Polling Units from 8.30am to 2.30pm.
Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum, even beyond the initial December 31, 2023 deadline.
“The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject.”
The apex bank had introduced the redesign of N200, N500, and N1,000 denominations in October 2022 and various deadlines were set for the old design of the banknotes to be retired. However, the economic hardship that resulted from the implementation of the currency redesign programme compelled some state governors to sue the central bank.
The apex bank, however, stated that all “CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks (DMBS)”.
For this purpose, he noted that the Commission had designated 12 Polling Units across six Local Government Areas covering the three Senatorial Districts of the State as centres for the mock accreditation.
Olumekun said: “In continuation of preparations for the Ondo State Governorship Election holding on Saturday 16th November 2024, the Commission is test-running the deployment of the Bimodal Voter Accreditation System (BVAS) and result upload to the INEC Result Viewing (IReV) portal for the election using live voters in select locations
“The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.
“Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions,” the statement added.
Following the Supreme Court ruling of March 3, 2023, the apex bank ordered banks to comply with the ruling of the Supreme Court ordering the old naira notes to remain legal tender and operate simultaneously with the redesigned naira notes till December 31, 2023. The bank stated that it met with the Bankers’ Committee and directed that the old N200, 500, and N1000 banknotes remain legal tender alongside the redesigned banking notes till December 2023, and consequently, all concerned
in the State.
“For this purpose, the Commission has designated 12 Polling Units across six Local Government Areas covering the three Senatorial Districts of the State as centres for the mock accreditation.”
Olumekun revealed that in Ondo Central Senatorial District, the exercise would take place in Akure South and Idanre LGAs.
He added that in Akure South LGA, the centres are Alagbaka Primary School in Akure and Ijapo High School also in Akue while in Idanre LGA, Our Saviour
are directed to conform accordingly.
The clarification by the central bank became necessary in view of the divergent social media misinterpretations and speculations of the validity of the affected naira denominations as the deadline approached.
Meanwhile, Ogene recalled the hardship, frustration, controversy and chaotic situation occasioned by the CBN change of currency in 2023, that affected validity of the old N200, N500 and N1,000 Naira notes at the time that resulted in litigations.
The lawmaker further recalled the current scarcity that led to untold hardship in the nation as a result of the CBN's inability to supply new versions of the changed currency notes.
He said going by the Supreme Court's subsequent ruling and order, the N200, N500 and N1,000 notes would cease to be legal tender, medium of exchange for goods and services in
Primary School, Aiyetoro/Owena I and Open Space in front of Plot 6, Beside Teaching Service Commission, Owena, are the designated venues.
The National Commissioner stressed that in Ondo North Senatorial District, the two LGAs are Owo and Akoko South West.
In Owo, the Methodist Primary School, Fajuyi Road and Imade College Gate, Ajaka Street I, shall serve as centres while the Open Space at Ago Ajayi, Oba and L. A. Primary School, Oba are the designated locations for Akoko South West LGA.
Nigeria, and shall also cease to be in circulation by the expiration of the deadline.
Ogene expressed worry that the CBN had not shown any sign of sensitisation or kick-started any awareness programme to remind Nigerians about this important economic policy in order to make them prepare for the deadline of December 31, 2024.
He expressed concern that Nigerians would be plunged into more chaotic situations than what happened in February, 2023, when the old N200, N500 and N1,000 notes would cease to be legal tender and medium of exchange for goods and services as from January 1, 2025.
Ogene argued that the CBN ought to have started public awareness, such as Jingles, Television and Radio announcements, Social Media postings, Flyers, Daily Newspapers
He said it was as treasure trust of the nation, the Niger Deltans found it as unfortunate for President Tinubu, to take such action not minding the implications it will bring to the area.
Earlier, the outgoing National Chairman of PANDEF, Emmanuel Essien, said despite diverse tongues and ethnic backgrounds, the people remain united by common region destines.
He recalled that seven years ago, the 4th general assembly organised by PANDEF in Port Harcourt was disrupted for unclear reasons but
expressed joy for the peaceful gathering on yesterday's meeting. Also speaking, former Secretary to Akwa-Ibom State Government, Obongonwan Ekong, said it was sad that the region has been neglected despite its contributions to the national growth.
Ekong who is the Akwa Iboma state chairman of PANDEF, warned the federal government to give urgent attention to infrastructure development and human capacity building to avoid pushing the people of the region back to the militants era.
House to Probe Employment Processes in FIRS, CAC, NDIC
Juliet Akoje in Abuja
The House of Representatives has set up an ad–hoc committee to investigate the employment processes in the Federal Inland Revenue Service (FIRS), Corporate Affairs Commission (CAC) and the Nigeria Deposit Insurance Corporation (NDIC).
It stated that this is with a view to determining compliance with the Federal Character principle. The committee is expected to report within four weeks for further legislative actions
The resolution followed the adoption of a motion alleging lopsided employments and extra-budgetary expenditures moved by Hon. Ali Isa at plenary yesterday.
Isa noted that FIRS, CAC and the NDIC are key government
and Periodic Magazines publications three months before the deadline.
He lamented that with about two months to the deadline, there was nothing to show that the apex bank was prepared for the exercise.
The lawmaker added that the CBN was still comfortably releasing the old N200, N500 and N1,000 notes mixed with the new N200, N500 and N1,000 notes for business transactions in Nigeria, instead of the gradual mop up of the old notes from circulation or ordering commercial banks to do so by issuing out only the new notes.
The House, therefore, called on the, “Central Bank of Nigeria (CBN) to issue more new N200, N500 and N1,000 notes and begin the gradual withdrawal of the old notes from circulation before the deadline of December 31, 2024.
“Urge the Central Bank of Nigeria (CBN) to order commercial banks to
agencies responsible for critical aspects of the nation’s economy in tax administration, corporate regulation, and the protection of depositors’ funds. He alleged the allegations of staff recruitment processes in the agencies were marred by irregularities of favouritism and non-compliance with the Federal Character principle. '’The allegations extended to extra-budgetary expenditures by the agencies with funds meant for statutory operations being used for non-statutory items in gross violation of the Fiscal Responsibility Act, 2007" He further stressed that the allegations of lopsided employments and extra-budgetary expenditures were true, while the principles of fairness, equality and transparency were violated.
forthwith stop cash payment to their customers with old N200, N500 and N1,000 notes but instead, engage in gradual mopping up of the old notes.
“Urge the Central Bank of Nigeria (CBN) to kick-start awareness programmes for Nigerians to be aware and prepare for the deadline of December 31, 2024.” The House directed its Committee on Banking Regulations to ensure compliance and report back to the House within 21 days.
Meanwhile, in another development, the House donated the sum of N100 million to victims and families of last week's petrol tanker explosion, which led to the death of over 170 persons in Jigawa State.
The Speaker of the House, Hon. Tajudeen Abbas, disclosed this yesterday when he led a delegation from the House to sympathise with the people and government of Jigawa State.
Blessing
in Port Harcourt
Rotarian Ebere Udensi; Polio Committee Chair Rotary Club of Abuja Gwarimpa, Rotarian Murna Yashim-Ankut; Assistant District Governor, Rotarian Constance Okeke; Past President of Rotary Club of Abuja Gwarimpa, Rotarian Keziah Okonofua; during the Rotary Club of Abuja Gwarinpa Keep Polio at Zero walk and campaign in Abuja.. recently
PHOTO: KINGSLEY ADEBOYE
Former Electoral Commission Chair, Humphrey Nwosu, Dies at 83
Goddy Egene
A former Chairman of the National Election Commission (now the Independent National Electoral Commission), Prof. Humphrey
Nwosu has died at the age of 83. Born on October 2, 1941, Nwosu died in a hospital in Virginia, United States of America (USA). He was appointed by the then military ruler, General Ibrahim
KSSTF Distributes 250 Vehicle, Vows to Fight Crimes
Ibrahim OyewaleinLokoja
In line with the determination to tackle insecurity headlong, the Kogi State Security Trust Fund has distributed over 250 vehicles, 215 motorcycle, and refurbished no fewer than 120 operational vans to ease operations for the security agencies, Kogi Vigilance Services, and Local hunters.
The Executive Chairman of KSSTF, Abdulraheem Ohiare, disclosed this yesterday while presenting the refurbished operational vans to the head of the security agencies,
Nigeria Union of Journalists (NUJ), Kogi State Council, and no fewer than 15 motorcycles were handed over to the operatives of the Department of the State Security. Ohiare stated that this was not the first time since assumption of the office few months ago, stressing that this was necessitated by the determination to stem the tide of insecurity in Kogi State.
The executive chairman pointed out that the State Governor, Usman Ododo, is committed to fighting crimes and criminality.
IPCR, Others Insist All Hands Must Be On Deck to Minimise Conflicts in Nigeria
MichaelOlugbodeinAbuja
The Institute for Peace and Conflict Resolution (IPCR) and other stakeholders in peace advocacy in Nigeria, have said all hands must be on deck to minimise conflicts in Nigeria.
The stakeholders made the submission yesterday in Abuja during a two-day stakeholders’ training in early warning response group (EWRG) to conflict resolution. They said: “To minimise conflicts in our society, all hands must be on deck.”
CHANGE OF NAME
I, formerly known and addressed as NWOSISI AMAKA THELMA, and also known and addressed as ONAIBRE NEENWOSISI AMAKA THELMA on my Bank number (BVN). Now wish to be known and addressed as ONAIBRE AMAKA THELMA. All former documents remain valid, general public should please take note.
I, Formerly known, called and referred to as MR. DAVID OLALEKAN OLANREWAJU, now wish to be known, called and referred to as DR. DAVID OLALEKAN OLANREWAJU. All former documents remain valid. The General Public should please take note.
I, formerly known, called and referred to as MISS SANDRA OKECHUKWU CHIANUMBA, now wish to be known, called and referred to as MRS SANDRA OGECHUKWU OSUNBOR. All former documents remain valid. The General Public should please take note.
CONFIRMATION OF NAME
This is to notify the general public that NDUKA ISRAEL GREAT AND NDUKA ISRAEL KELECHI is one and the same person, and now want to be known as NDUKA ISRAELI GREAT. ALL former documents remain valid. General Public take note.
While talking at the workshop, Deputy Director, Research, National Conflict Early Warning and Early Response, who also doubles as coordinator partner of the project, Mr Steve Agbo said: “The essence of this project, is to enhance early warning, early response system in Nigeria to achieve sustainable peace in the country through conflict prevention, and to do that, the Institute as a peace promotion agency in Nigeria has carried out a research that indicated that lack of response is a major factor inhibiting the effectiveness of conflict early warning system in Nigeria.”
CHANGE OF NAME
I formerly known and addressed as AMAO RASHIDAT OLUWASEUN, now wish to be known and addressed as ANANI OLUWASEUN VICTORIA. All former documents remain valid. The general public should please take note
I formerly known and addressed as OMOLERE IFEOLUWA DOROTHY, now wish to be known and addressed as OYETADE IFEOLUWA DOROTHY. All former documents remain valid. The general public should please take note
CONFIRMATION OF NAME
This is to inform the general public that my name was wrongly written as SULE BILIKISU in my Birth cerand now wish to be known and addressed as YISA BILIKISU TEMITOPE. All former documents remain valid. The general public should take note.
Babangida, and oversaw the June 12, 1993 election, widely regarded as Nigeria’s freest and fairest. He served as Chairman of NEC from 1989 to 1993. He hailed from the Ajali
community in Orumba North Local Government Area of Anambra State.
Although no official statement has been released by the family, a souce said: “Yes, Prof died this(yesterday)
morning in a hospital in Virginia, USA, after a brief illness. The family will soon issue a statement on it.”
He presided over the June 12, 1993 election, widely regarded as
Catholic Church Alleges Fresh Plot to Legalise Abortion
Onyebuchi EzigboinAbuja
The Catholic Church in Nigeria has raised the alarm over alleged plan by the federal government to review some sections of the Criminal Code 1090 on abortion to see to its decriminalisation. It quoted an official of the
‘Why
Federal Ministry of Health and Social Welfare of revealing the plan of government during a recent Sexual and Reproductive Health and Rights (SRHR) summit 1.0 organised by the Media Health & Rights (MHR) Initiative of Nigeria to mark this year’s World Contraception Day in Abuja.
In a statement signed by the Secretary General of the Catholic Secretary of Nigeria (CSN), Very Rev. Fr. Zacharia Nyantiso Samjumi, the church cited a media report which quoted an official of the government as saying that the government is working towards expanding access to safe termination of pregnancies in the country. Samjumi said the statement by the official from Health Promotion Department of the Federal Ministry of Health seemed to confirm, “the fears of a potential assault on our extant values, beliefs and cultural norms regarding shared values as a people.”
Gov Adeleke Banned Heavy Duty Trucks from Olaiya Bridge’
Yinka Kolawole in Osogbo
Osun State Governor, Ademola Adeleke, has banned heavy duty trucks and trailers from plying Olaiya Bridge to ensure public safety, adding however that there is no decision to demolish the bridge.
The decision was also a
resolution of the State Security Council meeting whose members raised the alarm over recent influx of trailers and heavy duty trucks on the state roads. Public safety was the primary and secondary motivation behind the decision. Responding to allegations of political bias by some leaders of the opposition, the spokesperson to the
state governor, Mallam Olawale Rasheed, in a statement said the governor has a sacred duty to take steps to secure public assets and residents, especially in the face of two major developments in the last few weeks. He said: “Several technical reports have been submitted to the governor on the deteriorating state of some sections of the bridge in recent times. As early as January, some public interest engineers approached the government to conduct an integrity test on the bridge. Similar conclusion was reached recently during a technical visit to the state by some national leaders of the construction industry.
FG Inaugurates NADDC Automotive Training and CNG Conversion Centre in Kano
Sunday Okobi
The federal government has inaugurated the National Automotive Design and Development Council (NADDC) newly established and equipped Automotive Training and CNG Conversion Centre in Kano
State, to mark a significant advancement in Nigeria’s automotive sector.
While performing the official inauguration rite of the facility, the Minister of Industry, Trade and Investment (FMITI), Dr. Doris Uzoka-Anite, reiterated the federal government’s commitment to job creation through effective use of national resources, describing the CNG Conversion Centre as one of the initiatives of the FMITI and NADDC designed to key into the Presidential CNG initiative of the federal government and ensure successful implementation of the programme. She applauded the NADDC helmsman and his entire team for making the vision a reality, while congratulating the people of Kano State for being part of the first beneficiaries of the NADDC CNG Conversion Centres.
Don’t Make Nonsense of Our Huge Investment in Agric, Ekiti Warns Herders
Gbenga Sodeinde in Ado Ekiti
Ekiti State Government has issued a stern warning to herders operating in the state not to make a mess of the government’s huge investment in agriculture by allowing their flocks invade and destroy farms in the state.
The Special Adviser to the Governor on Security Matters, Brig. General Ebenezer Ogundana (rtd), gave the warning in Ado Ekiti recently during a stakeholders’ meeting of Ekiti State Farmers/Herders’ peace committee at Jibowu hall, Government House. He said the government would henceforth invoke the full weight of the law on any underage found herding or anyone herding at night.
Ogundana, who is also the chairman of the committee, disclosed that Governor Oyebanji inaugurated the committee in 2023 in his effort to bring permanent end to farmers/ herder clashes in the state. He affirmed that the ban became imperative in order to bring peaceful coexistence and mutual understanding between farmers and pastoralists in the state.
Peter Obi Embarks on Appreciation Tour of United States
In continuation of his interactions with Nigerians in the Diaspora and in keeping with his avowed determination to lead the search for a new Nigeria, the National Leader of the Labour Party, who was the party’s Presidential flag bearer in the 2023 election, Peter
Obi, has embarked on a three-day, three cities tour of the United States of America(USA). According to Peter Obi Media Reach spokesman, Ibrahim Umar, the tour will be on the stated yesterday and will end tomorrow, 26th of October 2024 and will be
undertaken in the three cities of Houston, Los Angeles, and Atlanta.
The tour will be the last leg of his North America Appreciation visits that had earlier taken him to Toronto, Canada; Boston; New York City; West Orange, Cherry, Dallas; Charlotte, and Detroit.
The tour is also to underscore Obi’s commitment during the 2023 electioneering to consistently engage the Nigeria Diaspora and offer them the opportunity to engage constructively in the nation-building debate for the creation of a new Nigeria.
Naija Times Publisher, Braimah, Honoured with Roehampton Varsity Alumni Award
A distinguished media practitioner, public relation (PR) expert and Publisher/Editor-in-Chief of Naija Times, an independent and online newspaper, Ehi Braimah, has been honoured in London with the prestigious Chancellor’s Alumni Award of the University of Roehampton which has 90,000 global alumni.
Braimah, one of three Nigerians among the 20 recipients, was recognised for his outstanding achievements, receiving the Alumni Innovation and Inspiration Award.
According to a statement, the award ceremony was held inide the campus of the university on October 22, 2024.
The citation read during the award ceremony praised Braimah for using Naija Times to influence change for an egalitarian society by promoting balanced and evidenced-based reporting, especially during critical events like the 2023 presidential election.
“Braimah is a prominent voice for political and economic reforms, maintaining rigorous standards of journalism and fighting corruption,” the citation explained. The other Nigerians who were also honoured were Humphrey Aghoghovbia Jr. and Marian Adejokun.
Nigeria’s freest and fairest. Chief Moshood Abiola of the Social Democratic Party defeated Bashir Tofa of the National Republican Convention.
Prof. Humphrey Nwosu
Lookman, Ekong Nominated for CAF Player of the Year
Super Eagles move up three spots in October FIFA Ranking
Duro
Ikhazuagbe
Ekong’s leading role in the Super Eagles, pushed Nigeria to finish as the runners up at this year’s AFCON won by host nation, Côte d’Ivoire, last February in Abidjan.
Interestingly, Nigeria’s No 1 goalkeeper, Stanley Nwabali,
Expectedly, Ademola Lookman’s spectacular form since the close of last season that culminated in his scoring the three goals that won the UEFA Europa League crown for Italian Serie A side, Atalanta, has earned him nomination by CAF for this year’s African Player of the Year. Lookman’s on field Captain in the Super Eagles, William TroostEkong, was also listed among the 10 players shortlisted by CAF for the prestigious annual football gong.
also got a look in as he has been nominated for the Goalkeeper of the Year after his exploits at the delayed 2023 AFCON in Cote d’Ivoire, while the Super Eagles are in the running for the National Team of the Year top prize.
Surprisingly, Victor Boniface who partly led Bayer Leverkusen to their first ever German Bundesliga crown last season lost out in the running
for the Player of the Year award.
This year’s award ceremony will also be staged in Marrekesh, Morocco, in December.
Super Eagles striker Victor Osimhen is the reigning African Player of the Year, while compatriot Asisat Oshoala holds the women’s version.
Meanwhile, Nigeria’s Super Eagles have moved up three spots to place
NPFL Hammers Enyimba, Eight Others over Debts to Former Players
Licenses
of newly registered players in affected clubs withdrawn
The Nigeria Premier Football League (NPFL) on Thursday moved to enforce arbitration decisions of the Nigeria Football Federation (NFF) Players Status/Arbitration Committee following the failure of affected clubs to take advantage of extended windows of moratorium.
The clubs were respectively dragged to the NFF Committee in disputes over salaries and entitlement of some of their former players and coaches.
The Committee entered judgment in favour of the petitioners and gave the affected clubs a time frame and process for compliance.
“Having exhausted the period of
grace, we have moved to enforce the judgment and the first step is to withdraw licenses of all newly transferred and registered players of the affected clubs for the ongoing season”, explained Davidson Owumi, the Chief Operating Officer of the NPFL.
In a letter to the affected clubs, referenced “Indefinite Withdrawal of Licenses of Newly Registered Players For the 2024/25 Season due to Non-Compliance with NFF Players Status/Arbitration Committee Decision”, the NPFL notified the clubs that the Withdrawal of the licenses will take effect from Matchday 10.
Mbappe, Yamal Keep the El Clasico Spirit Alive on StarTimes
The legendary rivalry between Real Madrid and Barcelona, in the LA LIGA El Clasico, is set to resume this weekend with a blockbuster match that will be broadcast live on StarTimes Sports Premium channel at 8pm.
The spotlight will be on Kylian Mbappe and Lamine Yamal, two of the most exciting young talents in world football, as they look to carry the torch of this historic rivalry.
Real Madrid have been in excellent form this season, with Mbappe leading the charge. However, they will be without Thibaut Courtois and Rodrygo due to injury. Barcelona, on the other hand, have also been impressive, with the latest being a win of their Champions League game against Bayern Munich 4-1.
The rivalry between Real Madrid and Barcelona dates back to 1902, and it has produced some of the most memorable matches in football history.
Legends like Cristiano Ronaldo and Lionel Messi have defined recent editions of El Clasico, captivating fans with their extraordinary skills
RESULTS
(EUROPA LEAGUE)
AS Roma 1-0 Dy’Kyiv
E’Frankfurt 1-0 RFS
Ferencvaros 1-0 Nice
M’Tel Aviv 1-2 Sociedad
Midtjylland 1-0 Royale PAOK 2-2 Plzen
Qarabag 0-3 Ajax
and fierce competitiveness.
As we enter a new era, Mbappe and Yamal are set to carry the torch of this historic rivalry. Mbappe is a world-class talent who has already established himself as one of the best players in the world. Yamal is a rising star who has the potential to become one of the greatest players of his generation.
Whether Mbappe and Yamal can keep the spirit of this historic rivalry alive remains to be seen, but one thing is certain - fans around the world will be watching with bated breath live on StarTimes.
“As a result of this non -compliance, the licenses of the following newly transferred and registered players for the 2024/2025 season are hereby indefinitely withdrawn, effective from MatchDay 10”, the letter stated.
Some of the clubs include Plateau United (14 players), Lobi Stars (15 players), Kwara United (20 players), Katsina
Nigeria came from behind to edge a flaming battle with Cote d’Ivoire 2-1 in Lome, Togo on Thursday to reach the semi-finals of this year’s WAFU B U20 Championship.
In the event, Burkina Faso’s Young Etalons were eliminated on inferior goal-count against those of the Flying Eagles and the Young Elephants. Nigeria scored two goals and conceded two, same for the Ivorians, with all three teams in group B finishing with three points each. The Burkinabes scored one and conceded one, in beating Nigeria and losing to the Ivorians, by the odd goal each way.
Victory handed Aliyu Zubair’s side the opportunity to continue chasing the defence of their title, won in Niamey two years ago.
A feisty first half at the Municipal Stadium ended scoreless. Bidemi
Noxers at the 2024 Lagos Individual Boxing Club Championship ongoing at the Bishop Aggay Secondary School playing ground, Mushin, are eyeing for more wins following the completion of the preliminary bouts.
Bakare Azeem, Adegbuyi Apolo and Babajide Christopher are among those qualified for the quarter-finals as they are prepared to record more in their next bouts.
It was an interesting encounter between Bakare Azeem blue corner
United (players) and Enyimba International (18 players).
The others are El-Kanemi Warriors (13 players), Bayelsa United (18), Akwa United (17 players) and Abia Warriors (23 players).
The NPFL insisted that the licenses of the players would only be restored upon receipt of official confirmation that the club has fully complied with the decision.
Amole’s hopeful shot from distance sailed wide, while striker Kparobo’s powerful shot was pushed out for a corner by the Ivorian goalkeeper.
In the 39th minute, Nigeria’s appeal for a penalty was rejected by the referee. As the first half drew to a close, the Flying Eagles continued to press, with Amole’s effort crashing against the crossbar.
The second half witnessed increased urgency from the Flying Eagles. Côte d’Ivoire’s effort was chalked off in the 48th minute, and Nigeria’s striker Kparobo was denied by the goalkeeper in the 53rd minute. Amole, again, came close soon after.
The Ivorians finally broke the deadlock in the 62nd minute, but Clinton Jephta equalized for Nigeria shortly after. Kparobo Arierhi scored the winning goal, securing a 2-1
and Chineke Ikechukwu red corner in the 74kg category but the latter was too powerful as he delivered his punches effortlessly before winning Ikechukwu in the final round.
In his reaction after winning his bout against Ikechukwu, Kazeem Azeem attributed his victory to consistent training and always listening to the instructions of his coaches. Azeem said he’s ready for his quarter-finals bout and whoever he is fighting with will
36th globally in the October FIFA ranking released on Thursday.
In the release by FIFA, Nigeria garnered 1503.29 points within the period reviewed for the ranking.
Super Eagles Libya’s Mediterranean Knights in the first leg match of the 2025 Africa Cup of Nations qualifiers by a lone goal on October 11, in Uyo.
Perhaps, Nigeria’s movement would have been better if only Libyan authorities did not hold the Super Eagles and their officials hostage in an abandoned airport during the reversed fixture scheduled for Benina, Benghazi penultimate Sunday.
CAF has assured football stakeholders that a decision will be take on the matter to curb some countries’ hostility to visiting teams.
In the continental ranking, Super Eagles were ranked fourth behind Morocco, Senegal and Egypt instead of the sixth spot they occupied in September.
In the fifth to 10th spot in the African ranking include; Algeria(5), Côte d’Ivoire (6), Cameroon (7),
Mali (8), Congo DR (9) and South Africa (10).
On the global scene, world champions Argentina (1st) are still on top, but their lead over France (2nd) and Spain (3rd) has been cut. England (4th), Brazil (5th) and Belgium (6th) have all held on to their positions. Portugal (7th, up 1) and Italy (9th, up 1) are the only climbers within the Top 10, which is completed by the Netherlands (8th, down 1) and Colombia (10th, down 1), with Germany (11th, up 2) now knocking on the door.
32 qualifiers for the FIFA World Cup 2026, 47 for the CAF Africa Cup of Nations 2025, 79 Nations League matches and 17 friendlies were played during the recent international window.
This made October a particularly busy month of football and one that has led to a number of changes in the FIFA/Coca-Cola Men’s World Ranking.
The next FIFA/Coca-Cola World Ranking will be published on 28 November 2024.
2-1 to qualify for the semi final of the WAFU B U20 Championship yesterday in To go, Lome
win for the Flying Eagles.
“We showed resilience and determination,” said Coach Aliyu Zubairu, “We’re delighted with the victory and look forward to the semi-finals. Nigeria will take on Niger Republic in Saturday’s semi-finals.
be defeated. Babajide Christopher, who competed in the 67kg category pointed out that he needs to fight out his fear as a boxer and the word of encouragement from his coach and other technical team really boosted his chances while on the ring. Going forward Christopher said he will put up a better performance in his next match.
To Adeleke Apolo from
Emirate Boxing Club, he said the championship is an eye opener and another opportunity for up and coming stars to express themselves at the grassroots level, adding that it’s also an avenue for the established boxers to prepare and improve on their performances in the game. Apolo further stated that his intention is to give a good fight to whoever he will be competing with, as he is ready to win the title in his weight category.
Ademola Lookman (left) and William Troost -Ekong have been shortlisted for the 2024 CAF Player of the Year award
Flying Eagles Captain, Daniel Bameyi won the Man of the Match award as Nigeria defeated Cote d’Ivoire
TRUTH
Friday, October 25, 2024Price:
MISSILE
CUPP to President Tinubu
“The fuel subsidy removal by Tinubu’s administration has led to a surge in transportation costs, with prices increasing by over 300 per cent. This has had a ripple effect on the economy, with inflation rising to alarming levels. Instead of providing tangible solutions to alleviate the suffering of Nigerians, this administration has resorted to insensitive statements” –Coalition of United Political Parties (CUPP) General Secretary, Chief Peter Ameh, tackles the government.
ANTHONYADEGBULUGBE
GUEST COLUMNIST
The Shift of Fossil Fuel Dominance Pays
Nigeria, Africa, and indeed the world face a critical juncture. Energy systems are evolving remarkably, shifting from fossil fuel dominance to renewable sources, and this transition fundamentally reshapes economies and the environment. In this transformation, we are tasked with an essential question: How do we harness the energy-economy-environment nexus to foster good governance and achieve sustainable development?
To explore this, we must first acknowledge the complexity of the nexus. The energy sector fuels economies, creates jobs, and drives industrialisation but also contributes to environmental degradation if not properly managed. On the other hand, environmental preservation is essential to long-term economic stability but requires carefully planned energy policies. This balancing act necessitates robust governance frameworks that ensure transparency, accountability, and effective resource management. Energy is the backbone of economic development. In Africa, energy access is critical to unlocking the potential for industrialisation, innovation, and improved livelihoods. However, many across the continent, including Nigeria, remain energy-poor. According to the 2022 Energy Access Report from the World Bank, Nigeria has one of the most significant energy deficits in the world. Also, as of 2021, 85 million individuals – more than 4 out of 10 Nigerians, do not have access to power from the national grid.
The empirical literature is unanimous on the importance of energy to human development. Chien et al. (2023), and Luan et al. (2023) argue that energy is a fundamental element for sustaining human survival and development. Thus, excessive energy poverty may hinder sustainable human development. Energy poverty stifles economic growth, education, healthcare, and gender equity. Similarly, studies like Pachauri et al. (2004), Sesan et al. (2013), and Belaïd (2022) identified energy poverty as one of the critical developmental challenges faced by developing and emerging economies.
The nexus of energy generation and consumption, economic growth and environmental degradation revolves around three significant hypotheses: the growth hypothesis, conservation hypothesis and feedback hypothesis. The growth hypothesis studies claimed that economic growth depends on energy consumption (Adams et al., 2018; Zafar et al., 2019). The conservation hypothesis was the opposite: economic growth fuels energy consumption (see Destek & Aslan, 2017). However, a feedback hypothesis is upheld where a two-way causality exists among these three variables (i.e., energy, economy and environment) (Aydin, 2019; Tugcu et al., 2012).
In Africa, some research has been conducted to ascertain the extent, causality and implications of energy consumption. One such example is the work of Acheampong (2018), who found that a positive shock to GDP increases energy consumption and carbon emissions in the short run but also increases stability in the long run. This finding corroborates with Paramati et al. (2018), who noted that industrialisation enhances energy saving for most African countries. On the contrary, Awodumi and Adewuyi (2020) discovered that CO2 emissions across African economies remained highly unstable, with Algeria being the leading carbon emitter due to the dominance of non-renewable energy consumption.
Therefore, energy consumption apparently promotes economic growth but contributes to higher carbon emissions. This raises some pertinent questions: To what extent do production and consumption of energy resources contribute to economic growth and carbon emissions in African economies? Should policy focus more on growth than reducing carbon emissions arising from energy resource consumption? These are policy-relevant questions. Regarding the nexus between energy and good governance, pioneering studies have shown that the empirical side of the nexus aligns with economic theories. Fredriksson et al. (2004) analysed 12 OECD countries. They concluded that corruption reduces the effects of energy
policy: increasing corruption leads to increased energy intensity and, implicitly, a decrease in energy efficiency. Stern (2012) discovered that the decline in corruption directly leads to increased energy efficiency. Further, Nicolli and Vona (2015) concluded that increased corruption indirectly affects renewable energy policy through its impact on the regulation of the energy products market.
The African continent is energy-poor, the poorest in the world. About 600 million Africans lack access to electricity, while over 900 million rely on traditional biomass fuels, such as wood and charcoal, for cooking and heating. These fuels lead to deforestation and indoor air pollution, contributing to an estimated 600,000 premature deaths annually (WHO, 2022). Limited access to electricity hampers economic development, educational opportunities, and healthcare services, further perpetuating poverty and inequality.
Moreover, an estimated three billion people worldwide still lack access to clean energy technologies for cooking (IEA, 2022). In the IEA’s most recent Global Energy Outlook report, global energy demand will increase by around 33% by 2050. This implies that energy, and sustainable energy for that matter, will remain central to our daily lives, the lifeblood that enables us all to function and prosper.
There is no doubt that the world needs more energy, but this need must be met ever more efficiently and sustainably, considering the challenges posed by climate change to our future. However, Africa needs even more energy. Its population is set to increase from 1.4 billion people today to around 2.5 billion by 2050. Its economic output is expected to triple, and energy demand will increase by 82%. It would increase even more, by 150%, if its GDP per capita doubled to 5,000 dollars in 2050 (World Bank, 2021).
At the same time, Africa suffers significantly from the effects of climate change despite being the least responsible for it. Africa’s cumulative Greenhouse gas (GHG) emissions are very low, and even today, Africa accounts for only 3 to 4% of the world’s total GHG emissions despite being home to 17% of the world’s population. Given the evident developmental challenges confronting the African continent, it is clear that the narrative that Africa should abandon the development of its natural resource base for environmental protection is misguided. A wealthier Africa would be better positioned to contribute to climate change mitigation and adaptation efforts while addressing its energy security and socioeconomic development needs. By leveraging the continent’s abundant natural resources, African nations can bolster their economies, lift millions
out of poverty, and create the necessary infrastructure to facilitate the adoption of renewable energy technologies in the future. However, harnessing the potential of natural resources in Africa is not without challenges. One of the primary obstacles is the lack of infrastructure capacity to transport and distribute natural gas, for example. Constructing pipelines, liquefaction plants, and other infrastructure requires significant investments and longterm planning. My company, Green Energy International Limited, is already leading the way here in Nigeria by constructing the first indigenous terminal in Rivers State.
As Africa’s largest economy, Nigeria’s wide range of livelihoods, agricultural practices, and commodities are threatened by climate change. Rising sea levels increase vulnerability to flooding and waterborne disease. Additionally, drought and increasing flooding hinder agricultural production and fishing, reducing food security and negatively impacting health and nutrition in our dear nation. Drought, reduced rainfall and rising air temperatures inhibit the country’s hydropower systems. The energy sector, deforestation, and land-use change are the most significant contributors to Nigeria’s greenhouse gas (GHG) emissions (USAID report, 2023).
About 70% of Nigeria’s primary energy supply is derived from biomass. Poor on-grid power supply, which rarely exceeds 5 gigawatts, forces Africa’s largest economy to rely on more than 14 gigawatts of inefficient petrol and diesel backup generators across the country, contributing to around 30% of the fine particulate matter emissions from the continent (USAID report, 2023). According to the United Nations, Nigeria has the highest rate of deforestation worldwide, losing about 3.7% of its forest yearly.
All hands must be on deck to address the existential challenges of climate change. As responsible citizens of the globe, we must recognise that there is no ‘Plan B’ in addressing climate change. Today, it is more important than ever to drive forward the global energy transition in the interest of climate change mitigation, energy security, and economic diversification and development.
We are already witnessing the global energy landscape changing dramatically, as seen in the succeeding United Nations-organized Conference of Parties. Countries and regions have developed energy transition plans. However, it is important to stress that energy transition in developing countries, including Africa, must involve transitioning out of poverty, transitioning towards growth, transitioning towards development, and transitioning sustainably.
Global investment in renewable energy reached a record high in 2022—at USD 0.5 trillion—, but this represented less than 40% of the average investment needed each year between 2021 and 2030, according to World Bank statistics, to meet the sustainable development goals and limit global warming to 1.5°C. More striking than the absolute numbers is that sub-Saharan Africa received less than 1.5% of the global investment in renewable energy.
The disparity in renewable energy financing received by developed versus developing countries has increased significantly over the past six years. For this reason, we must be creative and develop new approaches to ensure that no one is left behind regarding sustainable and affordable energy for all by 2030 and beyond.
African governments must prepare energy transition plans considering the reality of green growth. These plans are critical policy and investment tools to deliver affordable, reliable, and clean energy while expanding energy services for all. Many African countries have demonstrated a willingness to be leaders and equal partners in the energy transition, with countries like Kenya, Nigeria, Ghana, and others developing world-class whole-economy transition plans (ETPs).
These ETPs are very important, and I may use the example of the Nigeria ETP, which Former President Buhari launched at COP26. The ETP in Nigeria is backed by law. The ETP covers all sectors of the economy, including the power sector, transport, housing, agriculture and forestry, and clean cooking. The ETP gives a price tag of USD 1.9 Trillion for Nigeria to reach net zero by 2060, of which USD 410 billion will be above business-as-usual spending.
These figures are definitely beyond Nigeria’s
The Advanced Economies must come to her
While energy drives economic growth, we must not ignore its profound environmental impact. Carbon emissions from energy production and industrial activities have escalated the climate crisis, leading to more frequent natural disasters, rising sea levels, and extreme weather conditions that disproportionately affect the poorest populations. We have a collective responsibility to act. Africa, while contributing the least to global carbon emissions, remains one of the most vulnerable regions to climate change impacts. This paradox compels us to think critically about our development pathways.
Meanwhile, renewable energy offers a beacon of hope. The International Renewable Energy Agency (IRENA) estimates that 90 per cent of the world’s electricity will come from renewable energy by 2050. This is an opportunity we must seize. In Africa, it is likewise projected that 76% of the continent’s energy could come from renewable sources by 2040. If harnessed efficiently, Africa is endowed with abundant solar, wind, and hydropower resources that can power our industries, rural areas, and fast-growing cities. The energy transition presents a path to prosperity for millions of Nigerians and Africans, but only if we prioritise infrastructure, innovation, and research investments to ensure the transition is inclusive and equitable. Africa needs help to achieve the energy finance and advanced technology needed to achieve this.
Sustainable development demands that we embrace renewable energy solutions that reduce our carbon footprint. Adopting solar energy, wind farms, and energy-efficient technologies is no longer a choice but a necessity. Moreover, Africa’s vast forests, wetlands, and ecosystems must be protected as carbon sinks, vital for mitigating climate change. However, achieving this will require more than just good intentions. We must build the institutional capacity to monitor and enforce environmental regulations, ensuring that our natural resources are preserved for future generations. Robust governance frameworks that integrate environmental sustainability into economic planning will be essential.
Good governance lies at the heart of this nexus. The glue holds the energy, economy, and environment together in harmony. Without sound governance, policy fragmentation occurs, leading to inefficiencies, corruption, and, ultimately, failure to achieve sustainable development. Governance in the energy sector requires a multi-stakeholder approach. Governments must lead with clear, long-term strategies but cannot act alone. Private sector investments, international cooperation, and the involvement of local communities are crucial. Public-private partnerships (PPPs) should be encouraged to accelerate energy infrastructure projects, and innovative financing mechanisms should be explored to support renewable energy adoption.
Furthermore, transparency and accountability are nonnegotiable. Citizens must be informed and involved in decision-making, particularly regarding resource allocation, environmental management, and policy implementation. Open dialogue and inclusive governance foster trust and drive the effective execution of policies that benefit the economy, the environment, and society.
The energy transition is a global challenge; no single nation can solve it alone. International cooperation is essential, particularly for African nations. Technology transfer, capacity building, and financing are areas where partnerships with the international community can support Africa’s energy transition and climate resilience efforts. We must also recognise that Africa’s energy and environmental issues are not isolated. Africa must be a key player as global energy systems move toward renewable dominance. This means engaging with international bodies, leveraging global best practices, and ensuring that Africa’s voice is heard in global forums, from the United Nations Climate Change Conference (COP) to the International Energy Agency (IEA).
NOTE: Read full article online on www. thisdaylive.com
