WEDNESDAY 26TH OCTOBER 2022 by THISDAY Newspapers Ltd

Emeﬁele: eNaira Recorded N8bn Transactions in OneYear Says CBN targeting 100% cashless economy Set to partner, on-board revenue collection agencies, others

Nume Ekeghe The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele yesterday disclosed that the country’s digital currency, the eNaira recorded a total of N8 billion

transactions in the first one year after it was launched by President Muhammadu Buhari. The CBN governor also said the Central Bank Digital Currency (CBDC) was part of the central bank’s plan to make Nigeria fully

a cashless economy. Emefiele, also noted that in the coming days, the CBN and the Bankers’ Committee would unveil plans which would ensure the cashless policy is fully integrated across the county.

He also said the central bank was set to collaborate with the Ministry of Humanitarian Affairs for targeted social welfare programs as well as to on-board revenue collection agencies on the digital currency platform.

Emefiele said these in Lagos, at a conference to mark the one-year anniversary of the eNaira in Lagos. He said: “Since its launch, the eNaira has offered Nigerians endless possibilities in using financial services thus, living up to the

chosen slogan, ‘Same Naira, More Possibilities,’ as well as achieving some set out objectives. “Specifically, there has been overwhelming interest and encouraging Continued on page 11

Petrol Scarcity Hits Lagos, Enters Fourth Week in Abuja...Page 40 Wednesday 26 October, 2022 Vol 27. No 10060. Price: N250

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Court Nulliﬁes APC Primaries in Rivers; Party Says Ruling Dead on Arrival... Page 43

Osinbajo: Why Hardworking Deputies Run into Problems Jonathan seeks constitutional amendment for selecting vice presidential, deputy governorship candidates Chuks Okocha and Adedayo Akinwale in Abuja The vice president, Professor Yemi Osinbajo, yesterday, identified some

reasons why hardworking deputies often run into problems with power brokers, saying conscientious seconds-in-command are always thought to be working towards

outshining their principals. Osinbajo said this in Abuja at the launch of a book, "Deputising and Governance in Nigeria", authored by the governor of Kano State, Dr.

Abdulahi Ganduje. Former President Goodluck Jonathan, who chaired the book launch, advocated constitutional provisions to ensure presidential

and governorship candidates picked their running mates before the party primaries to reduce the animosity that such choices often caused. Osinbajo maintained that the

efforts of hardworking deputies were often subject to wrong interpretations. He said many Continued on page 11

FG: Terror Alert on FCT By Foreign Embassies Unveriﬁed, Misleading Says warning not for Nigerians UK insists there’s increased threat in Abuja Warns assault may be indiscriminate, western interest targeted Olawale Ajimotokan and Adedayo Akinwale in Abuja The federal government, yesterday, lashed out at some foreign embassies for allegedly issuing an unverified terror warning on the Federal Capital Territory (FCT), Abuja, posting clickbait, and causing panic in the country. Minister of Information and Culture, Alhaji Lai Mohammed, delivered the disavowal at a ministerial session of the on-going UNESCO Media and Information Literacy Week in Abuja. Mohammed said if, indeed, such security alert was necessary, it was for the attention of citizens of the issuing countries in Nigeria and not for the Nigerian public. But the United Kingdom insisted there was a terror alert, which it updated as having an increased threat of attack by terrorists on Nigeria’s seat of power. It, however, warned that the attacks in Nigeria Continued on page11

DEPUTISING AND GOVERNANCE IN NIGERIA... Former President Goodluck Jonathan, (L) with Vice President Yemi Osinbajo during the launch of the book titled: Deputising and Governance in Nigeria at the NAF Centre, Abuja… yesterday

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WEDNESDAY OCTOBER 26, 2022 • T H I S D AY

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

NEWS

CBN MARKS ONE YEAR ANNIVERSARY OF eNAIRA... L-R: Deputy Managing Director, Access Bank, Victor Etuokwu; Managing Director/Chief Executive Officer, Zenith Bank Plc, Ebenezer Onyeagwu; Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; Managing Director/Chief Executive Officer, First City Monument Bank, Mrs. Yemisi Edun and Chief Technology Officer, Remita Payment Services Limited, Mujib Ishola, at the CBN’s one-year anniversary of the eNaira held in Lagos… yesterday PHOTO: ETOP UKUTT

Koko: Oil Theft Vessels Usually Switch Off Communication Device to Avoid Detection Says removal of buoys along shipping channels disrupting maritime safety in eastern ports Declares Onne nation's fastest growing port NPA rakes N127.2bn revenue in six months

Deji Elumoye in Abuja As Nigerians continue to lament the country’s revenue loss to crude oil theft, the federal government yesterday disclosed that vessels stealing the country’s crude usually switch off identification device to avoid being detected by the regulatory authorities.

The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Koko, who made this known yesterday, while briefing newsmen at the State House, Abuja, stressed that rogue vessels that are used to steal crude oil in the Niger Delta usually turn off their Automation Identification System (AIS) to avoid detection in Nigerian

Meghan Markle Reveals She is ‘43% Nigerian’ Says she will ‘dig deeper’ into her heritage The Duchess of Sussex, Meghan Markle, has revealed that her mixed-race heritage includes being “43 per cent Nigerian.” She disclosed this in a new episode of her Spotify-exclusive podcast, Archetypes. Markle told Nigerian-American actor Ziwe that she discovered her roots after having her genealogy done “a couple of years ago”. According to UK-based Independent, asked if she knew which tribe her ancestors were from, the Duchess said she did not but was planning to “start to dig deeper into all of this”. Ziwe said the news was “huge for our community”, adding: “No, honestly, you do look like a Nigerian, you look like my aunt Uzo. So this is great.” Meghan had previously spoken about being biracial – her mother is African-American and her father is Caucasian – but did not delve deeper into her roots until more recently. In a 2015 essay published in ELLE Magazine, the duchess had opened up about her mixed-race heritage and said: “Being biracial paints a blurred line that is equal parts staggering and illuminating. “While my mixed heritage

may have created a grey area surrounding my self-identification, keeping me with a foot on both sides of the fence, I have come to embrace that. To say who I am, to share where I’m from, to voice my pride in being a strong, confident mixed-race woman.” In September 2019, Meghan had addressed her racial heritage for the first time since marrying the Duke of Sussex a year earlier, during the couple’s tour of Africa. In a speech she gave while visiting a charity in Nyanga, she had said: “Just on a personal note, may I just say that while I am here with my husband as a member of the royal family, I want you to know that for me, I am here with you as a mother, as a wife, as a woman, as a woman of colour, and as your sister.” Elsewhere in the podcast, Meghan called out the “angry Black woman” trope and said there is a difference between being “difficult” and being “clear”. She told actor Issa Rae, who was also a guest on the episode: “You’re allowed to set a boundary, you’re allowed to be clear. It does not make you demanding, it does not make you difficult. It makes you clear.”

territorial waters. He explained that such ships evade arrest because they switch off their onboard automated tracking system that displays the vessel's position and others in the vicinity. “The intelligence persons bringing in vessels to steal crude, one of the things they do is, they shut down the AIS. This is what is needed in terms of transmission for you to even know, when the vessel comes in and the location they go to. They come in legally but then they go by the left hand side to commit illegal activities after switching of their AIS," he added. Koko said the NPA was in the process of procuring Vessel Traffic Services (VTS) to enable it identify, locate and monitor all vessels in the nation’s waters. According to him: "We are going ahead to deploy the VTS and to also have information in terms of vessel movement." He added that the NPA has been trying to acquire the VTS for about 10 years, saying a certified consultant has now been identified to take up the process and procure it before the end of the present administration. Koko lamented that the pilfering

and removal of buoys fitted on shipping channels in eastern ports to aid navigation were negatively affecting the maritime safety along the corridors. According to him, many shipping companies are refusing to use the ports because of the absence of buoys needed to guide their movements in the waters. The NPA boss said unknown members of host communities were responsible for the act leading to the disappearance of at least 25 this year alone, saying the agency has consequently met with various communities to appeal to their leaders to help safeguard the devices. While explaining that the absence of buoys along the channels could cause vessels to run aground, he said they were hard to procure and deploy as each costs between N12 million and N20 million. Koko also explained that vandals are attracted to the buoys because some of them have solar panels and sensors and, "there is a beacon light there that flashes at night. So the first thing they do is to vandalise that sensor, and then, you just have iron that has no light, and they can just drag it off without the sensors.”

According to him: "We can monitor it if it is not disconnected. A times, we send in our boats to go round scouting for it. And to also be fair to the communities, we have had some instances where the buoys were naturally taken away by nature, they went adrift, they ended up on the shore of some communities. "And to be fair to them, they have actually called us a couple of times to tell us that there’s a buoy that has gone adrift and it is in our community. And we thank them for that. "We believe probably the communities do not even know the individuals that are involved in these activities. So, we are monitoring the buoys. And that's how we got to know how many are stolen any day it’s stolen. "Because the captains are also taking vessels in and out of the water channels, they will naturally know when they can’t find the beacons on the buoys, meaning that something is missing, and they normally report it." Koko stressed that despite the challenges, everything was being done to make the ports in the eastern corridor, including Calabar,

Port Harcourt, Onne, and Warri, attractive to investors. He said the Calabar and Onne Ports are now ISO-certified and are seeing substantial increase in import and export traffic. While emphasising that Onne was becoming the fastest-growing port in Nigeria, he said, "In terms of percentage input, Onne has done 11,800 metric tons half of this year. We are seeing that the increase in percentage is high, probably because it's easier to do business in Onne now. "And because we have deployed more equipment in Onne, more personnel, we have paid attention to ensure that we made the port more competitive. In terms of export also, there's an export processing terminal within Onne itself." He disclosed that West Africa Container Terminal (WACT) operating in Onne has invested more than $100m in terminal expansion, deployment of equipment and technology. Koko further said the Authority generated N172.28 billion in revenue in the first half of 2022 with N92.9 billion transferred into Consolidated Revenue Fund (CRF).

FG Inaugurates Committee to Review Foreign Missions Worldwide Olawale Ajimotokan in Abuja The federal government has inaugurated a 13-man presidential committee to review the number of the country’s diplomatic Missions worldwide and their level of chronic indebtedness. The committee is headed by a retired Permanent Secretary, Ambassador Martin Uhomoibi. The Secretary to the Government of the Federation, Mr Boss Mustapha inaugurated the committee yesterday, in Abuja. He said government set up the committee because many of their challenges were inflicting a dent on the nation’s integrity. "Therefore, the establishment and deliberate composition of this

Presidential Committee will enable Mr. President tackle the root cause of the critical state of affairs of our Diplomatic Missions in particular and its impact on the image of Nigeria on the international arena in general," Mustapha said. The timeline of the committee is three- month and its terms of reference are to: determine the current number, categories of Nigeria’s diplomatic missions; subject matter desks worldwide and categorise their strategic importance and impact worldwide and make appropriate recommendations. It is to also identify and categorise the revenue generation capacity of missions, causes and level of indebtedness. It would in addition review the

understanding and application of critical extant policies, guidelines, circulars, codes, regulations, financial management systems, statutes, among others across Nigeria’s missions with a view to minimising bottlenecks, misapplication and curbing infractions. It would identify cost cutting measures and all other steps required to drastically reduce cost of running the country's foreign missions and review all assets of Nigeria’s Foreign Missions with a view to document and assess their viability as well as give recommendations for sustainability. Alhaji Sabiu Zakari, a Retired Permanent is the Vice Chairman of the committee. Other members are the Per-

manent Secretary and Solicitor General of the Federation, the Federal Ministry of Justice, Beatrice Edodamen Jedy-Agba; Permanent Secretary, Ecological Project Office, Shehu Ibrahim; retired Permanent Secretary, Ambassador Bulus Lolo; retired Permanent Secretary, Alhaji Saheed K. Y. Adelakun and Ambassador Janet Olisa, Ministry of Foreign Affairs. Others are representatives of Minister of Finance, Budget and National Planning, the Auditor-General for the Federation, Accountant General of the Federation, Head of the Civil Service of the Federation, Foreign Service Advisory Council, Federal Civil Service Commission and National Intelligence Agency.

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NEWS

ATIKU DONATES N55M TO BAYELSA FLOOD VICTIMS... Bayelsa State Governor, Senator Douye Diri (left) and former Vice President and presidential candidate of the Peoples Democratic Party, Atiku Abubakar, during the latter’s courtesy visit to Government House, Yenagoa,...yesterday

Buhari: Nigeria Ready to Serve as Global Centre For Vaccine Production, Distribution Canvasses quick take-off of mRNA vaccine technology project Says Nigeria now experiencing negative effect of climate change

Deji Elumoye in Abuja President Muhammadu Buhari has hinted of Nigeria’s readiness to become a global hub for sustainable manufacturing and distribution of vaccine and biological pharmaceuticals to support initiatives to keep all of mankind safe. He also canvassed for the quick take-off of local production of mRNA vaccines with the selection of Nigeria by the World Health Organisation (WHO) as one of six African countries to receive technology needed to produce the vaccines. Speaking yesterday at the World Bio Summit 2022, in Seoul, South Korea, Buhari pledged Nigeria's commitment to global response to known or emerging pathogens, including the global vaccine assurance ecosystem and equitable access for all. He told the summit jointly convened by the Government of South Korea and WHO to discuss the future of vaccines and Bio-Health across the globe, that Nigeria would continue to explore bilateral, multilateral and other opportunities for cutting-edge technology as a centre of excellence for vaccine manufacturing and distribution. According to him: “As the mRNA technology allows science to shift attention to yet unknown disease threats, we see opportunities to address diseases that have plagued sub-Saharan Africa and third world countries for centuries. “We believe biomedical scientists can dream of ending the scourge of Malaria, Ebola, Lassa fever and various endemic neglected tropical diseases through development and manufacture of efficacious and affordable vaccines and therapeutics. “Nigeria invites partners ready to support efforts towards the entire value chain of vaccine technology development in our continent, to consider working with us in Nigeria." While emphasising that ongoing conversations on the future of vaccines tend to support the decentralisation of capacity to produce essential materials to respond globally to pandemics, Buhari expressed Nigeria’s preference for a global warehousing and

supply chain strategy to attend to the needs of most countries. He said: ‘‘We believe that this concept makes sense and we fully endorse the wisdom of strategic and balanced spread of critical manufacturing capacity and essential stockpiles across the globe." The president therefore declared that Nigeria was ready and able to offer itself for this initiative, due to its strategic geographical location, strength of economy and market size derived from a population of over 214 million people. He added that the nation’s comparative advantage was also supported from her experience in human and animal vaccine production record since 1924, when colonial authorities produced WHO-certified smallpox, yellow fever and anti-rabies vaccines locally - a technology that has been improved upon and being used in Jos, Plateau State of Nigeria. "The high quality of current academic and research work and potential in Nigeria is also note-worthy," he added. He also reaffirmed Nigeria’s position on equitable distribution of vaccines, citing lessons learnt from the COVID-19 pandemic and the unpleasant experiences of developing countries. Describing the global response to the pandemic as discriminatory, the president demanded that the world must not allow the serious public health failure to happen again. “This summit certainly opens up global conversations at high levels of government, on measures that are expected to forestall recurrence of the unpleasant experiences that low-income and lower middleincome countries in Africa and Asia, especially, had to endure with regard to access to vaccines during the COVID-19 pandemic. ‘‘It must be said that inequity in distribution of virtually all requirements for diagnostics and therapy was a key factor in the lack of capacity to produce basic or essential commodities, and the total dependence on imported goods. ‘‘Although COVID-19 actually threatened and continues to threaten all of mankind with no regard for race, region or economic standing, global response was not only segmented but discriminatory.

‘‘If the pandemic had taken the course that was predicted by some experts, there could have been an existential threat to sections of humanity. Such a serious public health failure should not be allowed to happen again and lessons must be learned from it,’’ he said. Buhari also recalled efforts by his government to mitigate the impact and curtail the spread of the virus in the country, highlighting that the positive exploits by the country were recognised and commended by the global health body. “The response by the federal government of Nigeria to the COVID-19 pandemic was the immediate constitution of the Presidential Task Force (PTF) on COVID-19 in March 2020, in order to coordinate and oversee Nigeria’s multi-sectoral and inter-

governmental efforts to contain the spread and mitigate the impact. ‘‘Nigeria further instituted several measures through the PTF-COVID-19, anchored by our Ministry of Health to curtail the spread of the virus and protect the health of Nigerians. ‘‘These measures included an initial lockdown of non-essential activities; closure of schools; ban on international flights, nationwide curfews, set up of testing and treatment centres and so on. ‘‘These concerted efforts by the federal government of Nigeria, with the support of stakeholders in the private and public agencies, were able to mitigate the impact and curtail the spread of the virus on our health systems in the country. ‘‘Similarly, the efforts were designed to provide safety nets for

rural and vulnerable populations in the conflict-affected regions in Nigeria. ‘‘Through international cooperation and global solidarity, including the remarkable role of the United Nations Country team in Nigeria, we were able to surmount the initial challenge of access and availability of the COVID-19 vaccines to the global community,” he added. Commending the role of WHO in this regard, the president noted that the global health body continuously advocate for the equitable sharing of vaccines through the COVAX Facility, and for sharing of technology through bilateral and multilateral agreements through the COVID-19 Technology Access Pool. Buhari told the Summit, attended by Chief Executive Officers of Global Vaccines and Biologics Companies

that undoubtedly, the global outbreak of the COVID-19 pandemic jolted the collective consciousness of world leaders and the need to chart a better future. ‘‘Now more than ever, we must step up as leaders in a world in desperate need of healing and repair, to begin to have the difficult conversations about a future, which we must be better prepared for in order to avoid further devastation to our lives, livelihoods and physical environment. ‘‘The pandemic, within its first 3 months, exposed several weaknesses in our global health and economic systems as the world shut down and panic pervaded nations scrambling to control a virus we were yet to fully understand. Continues online

NLNG Advocates Increased Investment to Achieve Reliable In-country LPG Supply Peter Uzoho The Nigeria Liquefied Natural Gas (NLNG) Limited has called on stakeholders in the domestic Liquefied Petroleum Gas (LPG) value chain to invest more in the supply of the product to ensure a reliable and steady stream of supply to the domestic market. Marking 15 years of domestic LPG supply in conjunction with the Nigerian LPG Association (NLPGA) at a conference in Lagos, yesterday, NLNG’s Managing Director and Chief Executive Officer, Dr. Philip Mshelbila, said the investment in supply would intentionally spark commitment along the value chain, including vertical integrations. He stated that the NLNG was investing to increase supply through its further investment in Train 7, which would add about 35 per cent to its current capacity when completed, subject to gas supply and gas quality. He added that other domestic producers of LPG would need to make investments to enable their product to become available to the domestic market, rather than exporting it.

Mshelbila also said the interventions were needed to reduce the switching cost to LPG, encourage more adoption, reduce the cost of funding to support infrastructure expansion and growth as well as deliberate government action to encourage non-export of LPG by producers. Other urgent interventions required as outlined by Mshelbila also included clarity of regulatory guidelines and requirements, alignment of government enforcement agencies and the widespread dissemination of information on safe practices in the handling and use of LPG. He noted that supply and gas gathering initiatives faced major challenges in recent times, adding that due to floods ravaging operational sites of NLNG’s feedgas suppliers, there has been a state of emergency requiring declarations of force majeure. He, however, assured continued operations at the company’s production plant. “We continue to load and ship LPG to the domestic market. Therefore, we reassure Nigerians of our ongoing operations in the immediate and look forward to an

urgent return to normalcy. "Prior to the flooding, we were contending with the unrelenting effects of crude oil theft, which directly and severely impacted the supply of associated gas to our plant by the upstream producers. "We recognise the strides being made to address this by the Government and its agencies and hope that this will soon translate into improved gas supply to our plant in Bonny,” he stated. Mshelbila added that LPG supply was at the heart of the matter when the NLNG’s Board of Directors decided to intervene, exponentially increasing its supply from 50,000 in 2007 tons to 150,000 tons to 100 percent of its LPG volumes, accounting for about 40 per cent of the Domestic LPG (DLPG) market. He further stated, “Over the 15 years since 2007, NLNG has played a critical role in deepening the DLPG market with a reliable supply of LPG; expanding access to energy that is cleaner, more reliable, and affordable. “The number of its offtakers increased from seven at the onset to 42 today, the LPG ecosystem witnessed exponential growth

across the value chain. "With this increased DLPG penetration and accessibility, there has been a remarkable reduction in the use of kerosene, firewood, and charcoal, thus reducing the risk of respiratory conditions associated with smoke inhalation and increasing alignment with the global drive for a cleaner environment and lower greenhouse gas (GHG) emissions. “Today, the NLPGA in collaboration with Nigeria NLNG is celebrating the 15th anniversary of uninterrupted supply of domestic LPG in the country. The intervention has seen the supply of LPG grow from 60,000MT in 2007 to over a 1.3 million MT in 2021 (a growth of over 1,000 per cent). Today, the Nigerian LPG market is adjudged the fastest-growing globally. “This scheme has encouraged massive investments in LPG infrastructure and has created over 150,000 jobs in the sector and resultant increased tax revenue for the government. The federal government’s Decade of Gas programme has further helped in driving interest in propane, evidenced by NLNG’s startup of domestic propane which witnessed its first delivery in September 2021.

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NEWS

A BETTER FUTURE FOR HUMANITY ON THEIR MINDS...

President Muhammadu Buhari (right) with Former UN Secretary General, Chair of Ban Ki-Moon Foundation, Ban Ki-Moon, in Seoul, South Korea ...yesterday

Floods Killed 612 Persons as FG Sends Relief Materials to 21 States Says 3,219,780 persons affected, 1,427,370 displaced Defence minister calls for national resilience NLC seeks compensation for victims NBA sympathises with Nigerians, plans reliefs for affected members IYC accuses FG of abandoning Niger Delta Onyebuchi Ezigbo, Olawale Ajimotokan, Alex Enumah, Kingsley Nwezeh in Abuja and Blessing Ibunge in Port Harcourt The federal government has distributed relief items to 21 states affected by floods. This is just as the government revealed that 1,427,370 persons have been internally displaced, approximately 2,776 persons injured, while 612 persons have lost their lives due to the devastating effects of the floods across the country. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, disclosed this yesterday while updating the public on the interventions made by the ministry and the National Emergency Management Agency (NEMA) on the flood situation across the country. She said this just as the Minister of Defence, Major Gen Bashir Magashi (rtd), yesterday called for national resilience following the devastating flood across the nation. Also, the Nigeria Labour Congress (NLC) has asked government at all levels to ensure adequate compensation for lives lost and property destroyed in the devastating flooding across the country. According to Farouq, the 21 states are Abia, Adamawa, Anambra, Bayelsa, Ekiti, Enugu, FCT, Imo, Jigawa, Kaduna, Kano, Kwara,

Lagos, Nasarawa, Niger, Ogun, Ondo, Oyo, Sokoto, Taraba and Yobe. Giving update on the flooding, she said as of October 24, 2022, about 3,219,780 persons were reportedly affected by floods this year. Also, 181,600 houses were partially damaged and another 123,807 houses totally damaged. In addition, 176,852 hectares of farmlands were partially damaged while 392,399 hectares of farmlands have been totally damaged. She said while specialised teams were on ground, there were still some states and local governments still inaccessible and hard to reach. The minister said the federal government was liaising with the Military Disaster Response Units and other stakeholders with specialised skills and equipment to ensure that they use other means to reach hardto-reach areas and people at risk. She added that the Search and Rescue Operations had been on their toes since the flooding started and had continued to evacuate, relocate and refer victims to hospitals for immediate care. She called on other stakeholders to join in efforts to assist affected flood victims. “I commend local communities for their resilience. We received a report that in 144 LGAs, local communities worked together to provide the first response to their families and neighbors. The Search and Rescue Team, which is responsible for evacuating people

and providing life-saving first aid and medical support and referrals to hospitals has so far been able to reach 199 local government areas within 25 states,” she said. She stressed that a high-level delegation would visit some states next week to follow up on operations and to identify any new challenges and gaps in the operations that need to be addressed.

IYC Accuses FG of Abandoning Niger Delta Flood Victims

The intervention by the Minister of Humanitarian Affairs, Disaster Management and Social Development, came on same day the Ijaw Youths Council (IYC) Worldwide called on President Muhammadu Buhari to order special urgent humanitarian response to the Niger Delta region and rescue the dying victims of flood in the various states of the area. The IYC President, Peter Timothy Igbifa, said over 85 percent of the entire Bayelsa was under water with about 100 deaths recorded in the last two weeks. He demanded the deployment of presidential fleet to the state to rescue trapped victims and mitigate the damage already done by the flood. Igbifa, who spoke yesterday, in Port Harcourt, Rivers State, lamented that Bayelsa had been cut off from civilisation as the floods took over

and washed away significant portions of the only road leading to the state, the East-West road, at both Rivers and Delta states' axis. The IYC boss described the condition of the people at the Internally Displaced Persons (IDPs) camps in Bayelsa as terrible, crying out that the traumatised victims required urgent medical, food and cash deployment to avert starvation and outbreak of diseases. He wondered why Buhari would maintain unimaginable aloofness to the state of his predecessor, former President Goodluck Jonathan, who willingly handed over power to him, abandoning his people at their time of need. He said: "As we speak, former President Goodluck Jonathan is officially an internally displaced person. His country home has been submerged and the people of Otuoke like other people from different parts of the state are traumatised. "Bayelsa's case is pathetic and requires special intervention from President Muhammadu Buhari and the Federal Government. The floods destroyed the East-West road, the only road leading to Bayelsa at both ends of Rivers and Delta. Therefore, the entire Bayelsa is cut off and inaccessible by land. "There is no movement of goods and services to the state. Trucks carrying foodstuffs, medicine and other items can no longer enter

IYC accuses FG of abandoning Niger Delta Bayelsa, Imo, Kogi hold election 11th November 2023 Chuks Okocha in Abuja The Independent National Electoral Commission (INEC), yesterday, issued notice of elections for the off-season governorship elections in Bayelsa, Imo and Kogi States. In a statement by its National Commissioner in charge of Information and Chairman Voter Education, Festus Okoye, INEC said, "The tenure of the incumbent Governor of Imo State ends on 14th January 2024 while those of Kogi and Bayelsa States end on 26th January 2024 and 13th February

2024 respectively." As a result, he said the commission has approved the Timetable and Schedule of Activities for the Bayelsa, Imo and Kogi States’ governorship elections. According to Okoye, "This decision is in fulfillment of the requirement of Section 28(1) of the Electoral Act 2022, which mandates the Commission to publish the Notice of Election not later than 360 days before the date fixed for the elections. “Similarly, Sections 178(1) and (2) of the Constitution of the Federal

Republic of Nigeria 1999 mandates the Commission to conduct such elections not earlier than 150 days and not later than 30 days before the expiration of the term of the last holder of the office." Accordingly, he said the commission has decided to conduct the three elections on Saturday 11th November 2023. Okoye further explained that the statutory Notice for the elections will be published in the three states on 14th November 2022. Party primaries will be held from 27th March to 17th April 2023 while the

online portal for the submission of nomination forms (EC9 and EC9B) by political parties opens at 9.00am on 24th April 2023 and closes at 6.00pm on 5th May 2023. He also said the final list of candidates would be published on 9th June 2023 while campaign by political parties would commence on 14th June 2023 and end at midnight on 9th November 2023. The full Timetable and Schedule of Activities, Okoye explained, has been uploaded on the Commission's website and social media platforms.

Bayelsa. The food available in the state before the floods had been totally consumed. Starvation is starring the people in the face and threatening to wipe them out of existence. "The available IDPs are congested with serious fear of outbreak of diseases among the people. Our people are hopeless and helpless yet the federal government led by Buhari is carrying on as if all is well".

Defence Minister Calls for National Resilience

In a related development, Magashi yesterday called for national resilience following the devastating flood across the nation. He spoke in Abuja while inaugurating the Course 31 of the Nigerian Defence College (NDC) with participants drawn from 20 countries. The participants were drawn from Bangladesh, Benin Republic, Botswana, Burkina Faso, Cameroon, Congo, Cote d'Ivoire, Gabon, Gambia and Ghana. Others are India, Liberia, Malawi, Mali, Nepal, Niger, South Africa, Tanzania, Togo and Uganda. Speaking as the special guest of honour, the minister said the impact of climate change on environmental and socioeconomic systems was compounding the country's fragility risks. He said extreme weather patterns were aggravating challenges confronting local communities. "Extensive cultivation and overgrasing have been compounded by desertification, rendering large portion of land in northern Nigeria unproductive. "Similarly, unpredictable and higher intensity rainfall is resulting in the loss of crops and displacement of communities. "Depleting environmental resources in every part of the country pose a serious food security challenge in the face of a rapidly growing population," he said. He noted that responding to the 21st century risks landscape required an integrated approach that could better anticipate global shocks and emerging risks, while seizing opportunities from existing and new innovations. "Resilience

building is necessary at all levels, from individuals to systemic levels. Accordingly, the national strategic framework must seek to incorporate the households, communities, businesses, academia as well as other experts and security services among others," he said. In his remarks, the Commandant of the Nigerian Defence College (NDC), Rear Admiral Murtala Bashir, said 116 participants comprising 68 officers from the Armed Forces of Nigeria, 27 participants from the Nigeria Police, other security agencies and strategic Ministries Departments and Agencies (MDAs). “For the international participants, I urge you to use the opportunity of being here at the NDC to not only prepare yourself for higher responsibilities in your countries, but to also establish a strong bond of friendship with your Nigerian colleagues. "Crises such as the COVID-19 pandemic and the ongoing war between Russia and Ukraine demonstrate how the global economy and security have been affected and the compelling need for countries to be resilient to absorb the accompanying shocks. "Absorbing such shocks will involve countries identifying policy settings and mechanisms that could be re-calibrated to enhance national resilience,” he said. This underpins the consideration of the topic selected for this important inaugural lecture, "Building a Resilient Economy in the Contemporary Security Environment: Options for Nigeria," he said.

NLC Seeks Compensation for Flood Victims

Also, the NLC has asked government at all levels to ensure adequate compensation for lives lost and property destroyed in the devastating flooding across the country. Labour also urged the federal government to honour all collective bargaining agreements with unions in the tertiary education sub-sector especially with regards to wages and conditions of service and to quickly pay salary arrears of the university workers. Continues online

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

ELEVEN

World Bank Estimates Cost of Global Pandemic Prevention at $11.5bn Says economies contracted by 4.3% in 2020 due to COVID-19

Onyebuchi Ezigbo in Abuja The World Bank has said it is far cheaper to invest resources and energies to reduce risks of emerging infectious diseases and prevent future global pandemics. In a report released yesterday in Washington, United States, Workd Bank stated, "that prevention costs guided by a One Health approach – which would sustainably balance and optimise the health of people, animals, and ecosystems – would range from $10.3 billion to $11.5 billion per year, compared to the cost of managing pandemics which, according to the recent estimate by the G20 Joint Finance and Health Taskforce, amounts to about $30.1 billion per year.” When compared to the cost of managing pandemics, the World Bank said the recent estimate by the G20 Joint Finance and Health Taskforce, put it at about $30.1

billion per year. According to the Work Bank, there was chronic underinvestment in prevention which required action by countries to reverse the trend. The report warned that the pace of emerging infectious disease (EID) outbreaks has increased to several hundred per year since 2000. "As the world continues to deal with the devastating effects of COVID-19, the World Bank is today releasing a new report that proposes actionable solutions to end the cycle of devastating pandemics. "The pace of emerging infectious disease (EID) outbreaks has increased at an average annual rate of 6.7 per cent from 1980 onwards and the number of outbreaks has grown to several hundred per year since 2000. “This is largely due to humans extending their global footprint, altering natural habitats, and ac-

celerating the spillover of animal microbes into human populations," it said. While weighing in on the causes of pandemics, the report stated: "75 percent of EIDs and almost all known pandemics result from increased contact between animals and people, causing more than one billion human infections and one million deaths each year.” It also attributed infectious disease spread to the increasing movement of goods and people around the world. The World Bank further said, “in trying to put pandemics behind us by investing in one health to reduce risks of emerging infectious diseases, policymakers, governments, and the international community are encouraged to invest in pandemic prevention and to move away from the business-as-usual approach based on containment and control after a disease has emerged."

The report estimated that prevention costs guided by a One Health approach – which would sustainably balance and optimise the health of people, animals, and ecosystems – would range from $10.3 billion to $11.5 billion per year, compared to the cost of managing pandemics which, according to the recent estimate by the G20 Joint Finance and Health Taskforce, amounts to about $30.1 billion per year. While commenting on the report titled: "Prevention is better than cure, World Bank Managing Director for Development Policy and Partnership, Mari Pangestu, noted that COVID-19 has shown that a pandemic risk anywhere becomes a pandemic risk everywhere. He said the economic case for One Health was powerful, adding that the cost of prevention was extremely modest compared to the cost of managing and responding to pandemics.

"Prevention costs are only about a third of the cost of preparedness, and less than 1 percent of the cost of COVID-19 in 2020 – when the global economy contracted by 4.3 per cent or about $3.6 trillion worth of goods, services and other output lost, and the public health response. “Ultimately, prevention is a global public good: no country can be excluded from benefiting and there is no limit to how many countries can benefit. "Unfortunately, there is chronic underinvestment in prevention and countries must take action. In addition, when prevention is successful, the benefits are invisible and do not manifest as crises that demand immediate attention. One Health is the global approach required to break this cycle of panic, neglect, and under-investment,” he said. In addition, Pangestu said successful implementation of the One Health initiative would require improved coordination,

communication, and collaboration between sectors reinforced by capacity building. He said what it meant was managing trade-offs between development and holistic health objectives, and sharing costs more equitably through global coordination of policy and financing actions. "Investing in One Health is an investment in humanity’s future. The framework is holistic and helps governments, international organisations and donors direct financial resources to optimise scarce funding resources and prevent pandemics. “One Health actions to prevent disease outbreaks are cost-effective, with an estimated annual rate of return of up to 86 percent. "Now is the time to mainstream One-Health, leave the cycle of panic and neglect behind us, and put the notion that prevention is better than the cure into reality," he said.

night, the following morning, I was nominated to be a running mate. "But if you look at some of the parties, it took a very long time to select running mates, and sometimes after selecting running mates, there are all kinds of issues. "To me, I'm thinking that the National Assembly should look at it. "For you to qualify to run for the primaries as a governorship candidate, you should run with a deputy. Same thing at the federal level, for you to run as president, you need to run with a deputy. If the political parties think that the pair is okay for them and when they vote for that pair, nobody will raise issues again after the primaries. "But here we are in a situation, where issues are being raised after primaries because selection of a vice president is becoming a problem. I believe maybe at the state level, the selection of the running mate to the governor is also becoming a problem. And every country amends their laws based on the challenges they face. This is one area that Ganduje has raised and I believe Nigerians need to have a discussion on it." Jonathan, who lamented that deputy governors rarely succeeded their principals, disclosed, “When I left office and we are looking at the whole 36 states, we asked how many states that the governors were able to work for their deputies to

take over from them. “Naturally the deputy governor will look up to taking over from his boss, but I remember at that time, before the Ganduje experience, it was only Zamfara State, when Senator Yerima nominated my friend, Shinkafi. "Yes, I became a governor by default, you know what happened in my state. It was not a deliberate nomination by my principal. The clear case that I know was Yerima and Shinkafi and, of course, (Rabiu) Kwankwaso and Ganduje." He said if the relationship between governors and deputy governors was good, there should be a reasonable number of deputy governors taking over from the governors. The former president called for constitution amendment to assign clear responsibilities to deputy governors. He said, "Beyond that, there is always the need for a legal adjustment to assign clear responsibilities, other than the ad hoc functions they perform at the behest of their bosses.” On his part, Ganduje said the book told numerous experiences relating to principal and deputy relations in the Nigerian political system, reflecting the successful and evil times, the optimistic and the destructive relationships, and their consequences for development, particularly, provision of dividends

of democracy. It also suggests practical options for a pleasant working relationship between the two key political leaders, the governor said. Ganduje stated that he enjoyed working with his then principal, the former governor of Kano State, Senator Rabi’u Kwankwaso, as his deputy during their two tenures, 1999-2003 and 2011-2015. He stated, "However, the history of relationships between some governors and their deputies in Nigeria since the First Republic has been that of disloyalty, envy, betrayal, mistrust, ambition, which has over the years divided several states of the federation and negatively affected the development of the people who voted the pair into office. "This should be considered as a matter of national importance, because the resentful relationship is unfavourable to democracy, national peace, stability and development, because when governors clash with their deputies, the state suffers." Other dignitaries at the book launch included former Minister of Information, Labaran Maku; Governor of Borno State, Babagana Zulum; Gombe State Governor Inuwa Yahaya; Governor AbdulRahman AbdulRazaq of Kwara State; All Progressives Congress (APC) vice presidential candidate, Senator Kashim Shettima; and former National Chairman of APC, Adams Oshiomhole.

OSINBAJO: WHY HARDWORKING DEPUTIES RUN INTO PROBLEMS believed deputies were spare tyres, but wondered why some people still wanted the job if it was so worthless. Osinbajo stated, "A great political wordsmith, Kingsley Mbadiwe of the caterpillar and juggernaut fame, once disdainfully described the vice presidency as repeater station of a major station. It was a verdict to convey the very low esteem he held the office. He came to this conclusion, when he lost out in his bid to serve as vice president to Shehu Shagari in 1979." However, Osinbajo said the deputy or vice must be hardworking in the government, bringing his own skills and talents in representing his principal as efficiently and as effectively as possible every single day. He said unlike the deputy governors, the vice president had a few more well-defined constitutional roles, like chairing the National Economic Council’s

monthly meetings, leading the National Council on Privatisation, and serving as deputy to several other official bodies. But Osinbajo stressed that the effectiveness of the vice president depended on the trust reposed in him by the president. "I think, personally, I have been more fortunate than others in my relationship with my principal, President Buhari. I believe he also genuinely believes in the world of the vice president," Osinbajo stressed. Jonathan, who is also a former vice president, related his own experience, recalling that he was selected as running mate to the late President Umaru Yar'Adua a day after the presidential primary of his party, Peoples Democratic Party (PDP). He called for constitution amendment to address such issues. The former president said the subject of the book resonated

clearly with his experience and that of Ganduje, as they shared a similar political trajectory of serving as deputy governors at the same time, and eventually taking over from their principals. Jonathan, who stressed that he later got better, because he moved on to become the vice president and later president, decried the frosty relationships between the deputies and their principals. He said the issue was something everyone needed to ponder about. Jonathan said when they were elected in 1999, there were states where the relationship between the governors-elect and their deputy governors-elect became bitter even before their inauguration. He stated, "Even if you look back in the current political dispensation, while we are going in for elections, I remember when I was appointed the running mate to (Umaru) Yar'Adua, after the primaries that

FG: TERROR ALERT ON FCT BY FOREIGN EMBASSIES UNVERIFIED, MISLEADING could be indiscriminate and might affect western interests, as well as places visited by tourists. Mohammed, while responding to the development, noted that the threat of disinformation to national and global peace and stability was glaring, saying it undermines the trust by citizens in the system. He accused both the traditional and new media of being complicit in the spread of a misrepresentation. The minister said some media outlets and social media personalities were usually caught spreading unverified information on their platforms just for clickbait and the attendant monetary gain. Mohammed stated, “Suddenly, this alert found its way into the media, both new and traditional, thus, creating panic in the polity. Schools were shut. Businesses were closed. Travel plans were altered. Lives were disrupted. No one cared to find out about the authenticity of these alerts. They just published, got the benefit of massive clickbait, and damned the consequences. “Well, I can assure all that our military and other security agencies have continued to do everything possible to secure and protect Nigerians and foreigners living in Nigeria. Terrorists have been hard hit and put on the run. Bandits have been decimated and scattered. “Our country is safer today than at any time in recent times, thanks to the sacrifice of our men and women in uniform. “We do not discountenance the fact that terrorists, bandits and their kind would always want to do whatever it takes to disrupt our nation's peace, security and stability. “But our security forces have been proactive. Nigerians, too, should continue to be alert, but

must not panic. Like I said in a recent statement, as far as insecurity is concerned, the worst is over for Nigeria.” The minister was a panelist at the UNESCO session, with the topic, “National Media and Information Literacy Frameworks, Sustaining Beyond Disinformation.” The session, moderated by a Tunisian, Dr Tawfik Jelassi, the Assistant Director-General, Communication and Information Sector, UNESCO, had as panel discussants, Minister of Communication and Digital Economy, Professor Isa Pantami; Minister of Education, Adamu Adamu; and UK Minister of Technology and Digital Economy, Damian Collins, who participated virtually. While admitting that the act and spread of disinformation in Nigeria had been giving him sleepless nights, Mohammed admonished Nigerian media outlets and social media personalities against spreading security alerts without verifying their authenticity and considering their consequences. In his remarks, Pantami warned that fake news could trigger a Third World War. He appealed to journalists to verify information before releasing it to the public. Pantami said, “We have to take action. Social media has all of us as journalists – people just sit in the comfort of their homes, without board of editors, and post anything online. People enjoy negative news than positive news.” He urged the media to show good example, because of the implication of the news spread on the country. But the British High Commission, which hinted at the increased threat on its website, claimed it was still open for essential services. It had raised the alarm after the

United States issued a similar alert about imminent attacks on the Nigerian capital. The British government said most attacks were conducted by Boko Haram or Islamic State West Africa Province (ISWAP) and occurred in Borno, Yobe and Adamawa states in the North-east. The UK added that between May and July 2022, ISWAP had conducted a number of attacks in Kogi and Niger states, as well as the Federal Capital Territory. It also stated that there had been significant attacks in other states, including in Gombe, Kano, Kaduna, Plateau, Bauchi, and Taraba states. The UK government maintained, "Terrorists are very likely to try to carry out attacks in Nigeria. Attacks could be indiscriminate and could affect western interests, as well as places visited by tourists. "Further attacks are likely. There is an increased threat of terrorist attack in Abuja. The British High Commission remains open for essential services. You should stay alert, minimise travel within the city and follow the local news and the advice of security authorities. "Public places where crowds gather have been targeted in the past, including places of worship, markets, shopping malls, hotels, bars, restaurants, football viewing centres, displacement camps, transport terminals (including train networks), government buildings, security and educational institutions (schools, further education colleges and universities are all regular targets), and international organisations. “Attacks have taken place around religious and public holidays in public or crowded places, including places of worship as well as during election periods."

EMEFIELE: ENAIRA RECORDED N8BN TRANSACTIONS IN ONE YEAR response from Nigerians and other parties across the world with 33 banks fully integrated and live on the platform; N3 billion has been successfully minted by the bank, N2.10 billion has been issued to financial institutions and about one million (919,000) customers have been on-boarded. “Over 3,305 merchants have successfully registered on the eNaira platform across the country including Shoprite, Sahad Stores, A.A. Rano fuelling stations, Fraser Suites, November Cubes, among others; over 700,000 transactions amounting to about N8 billion have been recorded on the platform and over 2.5 million daily visits to the eNaira website.” Speaking further on the central bank’s plan to make Nigeria fully cashless, he said: “The journey has been to make Nigeria a predominantly cashless economy where transactions are done with limited, little, or no cash. “Banks have incurred a lot of costs in an attempt to embrace a cashless economy. We also had collaborations with mobile networks and had payment service banks (PSB) using all sorts of channels. “The destination as far as I am concerned is to achieve 100 per cent cashless economy in Nigeria. I know that those who doubt us

will say that 100 per cent cashless is unattainable. “Yes, it is true but Nigeria must move from being a predominantly cash economy to a predominantly cashless economy. “I want to say we have provided all the needed infrastructure that will enable us make cashless a nationwide journey. It is not something that some of us will like, but we would in the coming weeks and months make pronouncements that must make cashless go nationwide. I believe part of those pronouncements will begin from tomorrow and there will be some breaking news tomorrow. “Even the bankers' committee will hold a special bankers’ committee meeting tomorrow to deliberate on this, so let us expect the news.” According to Emefiele, “as with most digital revolutions, the eNaira is a journey that started five years ago, precisely 2017. It is not a one-off event, but a journey of possibilities. “Thus, the bank would continue to refine, fine-tune and upgrade it. Therefore, Nigerians should expect to see additional functionalities in the coming months, including the on-boarding of revenue collection agencies to increase and simplify collections and collaborating with the Ministry of Humanitarian Affairs through the creation of

sector-specific tokens to support the federal government’s social programmes and distribution of targeted welfare schemes in a bid to lift millions out of poverty by 2025. “Let me reiterate that the success of the eNaira project could not have come without the active collaboration of several stakeholders inside and outside the government. Let me use this medium to acknowledge the partnership and unwavering support of the Ministry of Communications and Digital Economy through National Information Technology Development Agency (NITDA) and the partnership with the Ministry of Humanitarian Affairs. I would also like to commend the African Fintech Foundry and Merchants and Consumers for onboarding and conducting their transactions on the eNaira Platform.” “The CBN acknowledges the daunting task ahead. We therefore call on all relevant stakeholders, including the Financial Institutions, Nigeria Inter-Bank Settlement Systems (NIBSS), FinTech groups, Telcos and merchants to collaborate, innovate, deepen and enhance the value of eNaira to Nigerians and to Nigeria. It is the Bank’s hope that the eNaira will drive the digital economy agenda and foster a more prosperous Nigeria.”

WEDNESDAY OCTOBER 26, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 26, 2022

MIDWEEKPOLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com

08033025611 SMS ONLY

Beyond Suspension of Labour Party’s National Youth Leader Emameh Gabriel reports that recent suspension of National Youth Leader of Labour Party, Eregbe Anslem, is raising some dust within the party

ast growing opposition political party, Labour Party, last week suspended its National Youth Leader, Comrade Eregbe Anslem, over what leadership of the party described as gross misconduct, a development that has lent credence to speculations about cracks within the party. But beyond the allegations levelled against the suspended Youth Leader, there are salient issues being raised by his suspension in the public space. While it is yet unclear what could be of the party after last week’s incident, the disagreement between some of its old members and the new entrants, media war between the suspended National Youth Leader and the party leadership may have a way of distracting it to focus more on strategic planning ahead of 2023 polls. National Chairman of the party, Julius Abure, had since the party came to limelight in the last few months proven to be a good crisis manager. He has against all odds and pressure from certain forces put strategic measures in place to accommodate what many in his position could not do. But observers believe that the suspension of one of its NEC members, one that is saddled with the responsibility to mobilise the largest voting demographic in injury time and in few months to the general elections, could spell doom for the party, no matter how little the crisis seems. A youth arm of the party believed to be loyal to Eragbe had on the night before his suspension at FCT NUJ secretariat in Abuja threatened to fight back should leadership of the party carry on with the plan to suspend him. They told journalists that there was more to what was made available to the public. “They should have addressed this issue from within and allow us concentrate on how we can win the elections. You can’t just suspend

somebody who has sacrificed so much for the party like that”, said one of them. “He was one of the presidential candidates of the party who willingly stepped down for Peter Obi before he became its Edo North Senatoral candidate. That was a big risk. They are exposing him to the opposition parties who could use him against Labour Party. I hope they know what they are doing”, said another. Eragbe’s suspension came less than two weeks after Labour Party unveiled its Presidential Campaign Council committee, which almost plunged the party into crisis. This followed disagreement by the National Publicity Secretary, Abayomi Arabambi, with the composition of the PCC list which he said does not reflect the true position of the party. He even went further to describe the press conference organised by

Dr Doyin Okupe to unveil the PCC members as illegal. He described Okupe’s move as one who came to usurp the structure of the party from the national chairman without recourse. Although the party leadership had in a subsequent briefing endorsed the PCC list earlier announced by Okupe, there is clear disquiet among some members of the party on its prospect going into the presidential election. At a press conference held at the party’s national secretariat in Abuja last week, the National Publicity Secretary the party, Abayomi Arabambi, explained to newsmeb that Erabe’s suspension was informed by allegations of “forgery, issuance of certificates to groups unknown to the leadership of the party without the approval of the National Working Committee or the National Chairman, the launch of a fund mobilisation website to receive funds without the approval of the National Working Committee or the National Chairman” and sending official letters “to some individuals without the approval of the National Working Committee or the National Chairman”. Abayomi described the actions of the National Youth Leader as “gross misconduct, disobedience to the constitution of the Labour Party and other acts”. While accusing him of anti party activities, he said the suspension will last for six months and that will depend on how Eragbe conducts himself while the suspension lasts. He said: “In essence, he seems more to be working against the aspiration of our presidential candidate. Ever since he became our senatorial candidate in Edo State, he has been hobnobbing with our major foe and that alone is an act that cannot be condoned by the leadership of this party. “And we followed the laid down rule where the disciplinary committee was set up during our NWC meeting with himself in attendance.

He was invited, the allegation was tabled before him but he was unable to defend himself. So inadvertently, we have complied with our constitutional provision before any national officer is suspended”. Reacting, the suspended National Youth Leader of Labour Party, Anslem Eragbe, who is also the party’s Edo North Senitoral candidate has described his suspension as null and void, describing it as politically motivated and selfish by some persons in the party. According to him, the whole issue around his suspension was rooted in battle to control the funds expected for the prosecution of the 2023 presidential campaign of Mr. Peter Obi. Eragbe who spoke with some reporters after his suspension, said all the allegations levelled against him by the party were baseless and unfounded. He tendered a three-page document which he made available to journalists and also addressed to the IG of Police, DSS, EFCC and other relevant security agencies calling for his reinstatement. He said: “I demand that the National Chairman of Labour Party with immediate effect withdraw his suspension against me”. Eragbe explained, for instance, that the fund rasing “proposal was explicit and showed how members and supporters of the party would contribute as low as N500 and based on the proposal it could reach up to N10billion minimum to the party According to him: “Basically it is the constitutional right of the individual and members of the party, not just party officers, left alone ranking party official like myself to raise funds for the party when necessary. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Linus Okorie: Rising Proﬁle of A Caring Heart Benjamin Nworie writes that 2023 general election presents an opportunity for a former Member of the House of Representatives, Mr Linus Abaa Okorie, as he jostles for Ebonyi South Senatorial seat

n Ebonyi State, Linus Okorie, has remained a household name in the polity. His Foundation, Caring Heart, has become life saver, succour giver and hope for humanity. It is a foundation that the people have benefited so much from. Okorie’s political ambition for the third term in the House of Representatives was trauncated by the State governor, Mr David Umahi in 2019. Before then, it was a movement and a popular campaign train. As the third term bid couldn’t materialize, he has seen the forthcoming general election as a time to rise and strengthen his political projections. Many of his supporters are still intact and see his new political move as a rise of a caring heart. They are convinced that if Okorie can perform the way he did as a member of the House of Representatives, he would do better if he wins the senatorial position. He is Ebonyi South Senatorial candidate of the Labour Party for the 2023 general election. Until his defection to the Labour Party, Okorie was a chieftain of the Peoples Democratic Party in the State. His movement to the new Party was sequel to the fragmentation in PDP which has become a shadow of itself with stakeholders and leaders divided along two factions. Based on the foregoing, Okorie abandoned the party and joined LP, from where he secured the ticket of the Party to vie for the Senatorial position. Without doubt, Okorie may have felt injustice from the national leadership of the PDP on how they handled the leadership crisis in Ebonyi State chapter of the Party, which spilled over to factionalization and division on the leadership and primaries of the party in the State. With the waves of the LP across the country occasioned by Obidient movement of the presidential candidate of the Party, Mr Peter Obi, Okorie conceived that it remained a veritable platform to drive his aspiration and ambition to

Okorie

fruition. In Ebonyi state for instance, LP has come to stay and seriously making inroad and spreading its tentacles across the nook and crannies of the State. Even as the Obidient movement is permeating the fabrics of the society, Okorie remains a leading light of the party in the State. This, nevertheless, has advanced the fortunes of the party and brightened its chances of wining elections in the State. It was in 2014 that Labour Party attempted to make an inroad into the politics and governance of the State during the tenure of former Governor Martin Elechi when the former governor “conscripted” his foremost contractor, Edward Nkwegu, to fly the governorship ticket of the party as a second option. The party failed woefully and could

not secure any seat despite the support of the incumbent governor then. For 2023, another opportunity beckons on the Labour Party to play serious cards on the polls. With Okorie, Labour Party has become a major opposition party that may give other candidates a run for their money. For Okorie, his senatorial ambition is a time to show his strength and test his political might. From 2011 to 2019 when Okorie served as a member of the House of Representatives, it was a milestone characterized with effective representation and purposeful leadership. During his tenure, it was said in many quarters that every sincere and unbiased person from Ohaozara/IOnicha and Ivo federal constituency under Okorie, knew that they have not had such an astute, detribalized, vocal, goal-getter, performing representative as they had under him. Okorie who was a two term member of the House of Representatives and Chartered Accountant has been a thorn on the flesh of the present administrationb of Governor David Umahi. Very blunt and courageous, Okorie has never hidden his thoughts and opinion for or against any government policies perceived to be inimical to the welfare and growth of the State. The love lost between Okorie and Umahi could be traced to 2018 over what appeared to be a betrayal of trust by Umahi on Okorie’s third term bid to the National Assembly. However, it appeared that Okorie was used as a sacrificial lamb to get the support of the former Senate President, Senator Anyim Pius Anyim. At a rally held at the headquarters of Ivo local government, Umahi announced that it should be on record that it was Senator Anyim that nominated Okorie’s replacement. At many fora during the 2019 electioneering, Umahi clearly promised and adopted Okorie for third term bid. It was however surprising to many while the Governor surreptitiously dumped Okorie not minding that he was one

of the strongest ally and popular aspirants in the State. It was like a daydream for Okorie’s supporters who were prepared for all odds. During one of the official flags off of free medical outreach and welfare programme organized by the lawmaker via his Caring Heart Foundation, the Governor stressed that Okorie’s performance would definitely earn him another term in 2019. Umahi had said: “Men have been going to National Assembly before Hon. Linus Okorie but am sure they never brought these to your people. Linus Okorie is the only lawmaker that remembers that he’s coming from somewhere. I am also aware that he is not the only one that was sent to Abuja by the people of Ebonyi state but I am standing on the land of Akaeze to throw it as a challenge to all the members of the National Assembly from Ebonyi state, that we expect that from time to time, they will call us as state government to come and witness the programmes that they have developed for their people. “I believe that what we are doing here is bringing down leadership and politics to the grass root that people may be able to understand why you are always enjoined to look for a credible candidate to vote for in election because when you vote them into power whether the chamber is green or red, they will remember that they are coming from somewhere. “So, Linus Okorie, we are grateful to you and we are pleased that you are doing what you are doing. If we have our way, we will say you are already there in 2019. We say so as state government but we will still leave you in the hands of your people who will determine your fate and say he has related so well with us and deserves to go back to Abuja. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY OCTOBER 26, 2022

POLITICS

As Death Snatches Ekiti Assembly Speaker Afuye... Victor Ogunje writes about the contributions of the late Speaker of Ekiti State House of Assembly, Hon Funminiyi Afuye, to the political development of the State before his sudden death last week

n Wednesday, October 19, 2022, something terrible happened at the Ekiti State House of Assembly. The Speaker, Hon. Funminiyi Afuye, was snatched by the cold hands

of death. His demise was mysterious to some and this necessitated why different meanings were read to his sudden, devastating and wondrous departure. While some said it could be spiritual, the other school of thought attributed it to the call of nature and destiny. In a manner suggestive that of an excruciating regret and teeth gnatching, one of the assembly members while responding to his departure said: “This incident was funny and shocking. Rt. Hon Funminiyi Afuye was at the House of Assembly yesterday(Tuesday), so his death was devastating to us. It was a rude shock. We learnt he developed sudden complications this morning and was rushed to the hospital, where he died”. Dramatically, Afuye appeared at the inauguration of Governor Biodun Oyebanji, on Sunday hale and healthy. He was bubbling with life, with no premonition of death. He was said to have also attended the plenary on Tuesday, after which he joined Governor Biodun Oyebanji on inspection of some projects in the state capital, Ado Ekiti. These attested to how surprising, unpredictable and incredulous death could be. It was not gainsaid that the assumption of Governor Oyebanji onto the governorship seat on October 16, 2022 altered the political matrix and configuration of the state. His coming seems to have tilted the political calculation in favour of Ekiti South Senatorial District. The Zone that had cried loudly over marginalisation has the Deputy Governor, Mrs Monisade Afuye and the Speaker coming from the district with Ekiti North now dislodged from the major first three ranking positions, with former Governor Kayode Fayemi’s exit. Knew what they were, politicians don’t normally take chances. Their case is like a nature, it abhors vacuum. Reports from the assembly indicated that underground and surreptitious scramble for the speakership had started even before Fayemi exited. Reliable sources confirmed that some lawmakers of Northern extraction had started the permutations targeted at dislodging Afuye to cede the position to Ekiti North that seems sidelined in the equation. This was to ensure political balancing But before these clandestine debate hots up, the nature brought out its own calculus and took away Afuye, who represented Ikere constituency 1, at the age of 66. Though he had hardlining supporters among the lawmakers, who shared the view that the late speaker should be allowed to complete his tenure on June 6, 2023. According to a statement credited to Ekiti State Government, the deceased speaker died of cardiac arrest. Before finally breathing his last, the former lawmaker was rushed to the hospital, after developing complications before falling into the cold hands of death. In actual fact, the pain caused by his death had resonated so deeply across the state. The ruling party and even opposition were dazed by his abrupt demise, because the former Speaker was perceived as consummate and cosmopolitan, and had carved a robust network of friendships across political and social divides. In his community in Ikere Ekiti, he was well loved. He remained one of the few politicians in Ekiti that people had unfettered access to. Humility radiated around him, and he was not power drunk. Probably because of his background as a former students’ leader at the then University of Ife, where he read Political Science, Afuye believed in Marxism principle. He was not desperate for power, material acquisition and very temperate in approach to issues, no matter how inflammable. He had a rich political history in the politics of Ekiti. He was one of the foot-soldiers that fought between 2007 mad 2010 for the reclamation of Fayemi’s “stolen” mandate from Segun Oni of the People’s Democratic Party. The late Speaker was the leader of the opposition then. He was leading the 13 lawmakers elected on the platform of the defunct Action Congress that metamorphosed to Action Congress of Nigeria

Afuye

in the then assembly. That period was the most engaging in Ekiti politics. It was a 13:13 equal strength between the PDP and ACN. It was that time that Afuye’s deep sense of reliability came to fore. He neither wavered nor contemplated defection to the ruling PDP to shore up his perks of office. Afuye was pungent in his criticism of government and highly vociferous. He demonstrated leadership with panache suggestive of a staunch opposition desirous of good governance for its people. The late lawmaker never primed politics and primordial attachments over corporate benefits. That was why he rarely opposed any bill or policy brought for ratification by Oni to improve the wellbeing of Ekiti populace. His dependability spurred Fayemi to reappoint him as a Commissioner for Information in 2011 after leaving the Assembly. His popularity in that office was electrifying to the extent that some people in government were rattled and became uncomfortable. Good enough for him, Fayemi always believed in his ability. He was later moved to the Ministry of Regional and Inter-governmental Affairs to rally support for regional governance being mooted by the then southwest governors. In actual fact, when opportunity beckoned for reelection into the Assembly in 2019, Afuye got it on a platter of gold, riding on the crest of his lofty and scintillating performance between 2007 and

2011. He won the election so convincingly and with no hassles and became the Speaker of the Assembly, where he spent 40 months and 13 days and rested his case. Under his leadership, the executive and legislature cohabited in a manner that was mutually inclusive. It was a case of mutual respect and honour. Afuye piloted the assembly without rancour and crisis. Not even for one day was the threat of impeachment raised against him. He was above board and pragmatic. He cooperated with the executive without sacrificing the independence and honour of the hallowed chambers on the altar of political relevance and patronage. To underscore his relevance, every budget brought by Fayemi since 2019 was being critically reviewed. In 2020 budget, Fayemi presented a total budget estimate of N124.7 billion but the assembly reviewed it downward to N91.9 billion due to the striking and debilitating global nosedive in the economic situation triggered by the dastardly effect of Covid 19 pandemic. The same scenario played out in 2022, Fayemi brought an estimate of N100.6 billion while the assembly jacked it up to N100.8 billion to accommodate some critical sectors.These confirmed high level of freedom the lawmakers savoured under his outstanding hegemony. Through Afuye’s shrewdness and proficiency in the act of lawmaking, the assembly passed a total of 81 bills within a spate of three years and four months. Among them were bill for the upgrading of the College of Education, Ikere Ekiti to now Bamidele Olumilua University of Education,Science and Technology and bill establishing the Ekiti State Polytechnic, Isan Ekiti. These substantiated his spine and immeasurable love he had for good leadership. Underscoring his influence in Ekiti politics, his death affected every facet of the society. President Muhammadu Buhari, the Government of Ekiti State, National and State Assembly

Under his leadership, the executive and legislature cohabited in a manner that was mutually inclusive. It was a case of mutual respect and honour. Afuye piloted the assembly without rancour and crisis. Not even for one day was the threat of impeachment raised against him. He was above board and pragmatic. He cooperated with the executive without sacriﬁcing the independence and honour of the hallowed chambers on the altar of political relevance and patronage

members, his political party, Association of Local Government of Nigeria(ALGON) and others mourned his demise and called for the repose of his soul in the bosom of the Lord President Buhari said the late Speaker had distinguished himself as a key soldier for democracy and was widely admired as a humble grassroots political leader who relentlessly championed the interests of his people. “He served the State and its people diligently and devoted his life to uplifting common good,” the President said. The Governor, in a statement signed by his Chief Press Secretary, Yinka Oyebode, said Afuye’s death was shocking, sad and unfortunate adding that he was shocked when he got a call early Wednesday morning that the late Speaker was rushed to the hospital. The Governor said he was convinced that Hon Afuye would leave the hospital hale and hearty in view of the medical attention he was receiving when he paid him a visit at the EKiti State University Teaching Hospital ( EKSUTH) Intensive Care Unit( ICU), Wednesday afternoon. “I was speechless when the news of Hon Afuye’s death came later in the evening.” The Governor described Afuye as a loyal friend and party man, a patriotic Ekiti leader and a tireless advocate of good governance, who in the last 30 years had committed his time, energy and resources to the development of the State and the country. “Ekiti lost an illustrious son, a perfect gentleman and a champion of democracy and rule of law. My heart bleeds over the loss of this great leader who was a great friend and brother indeed. “On behalf of myself, my wife, the Government and good people of Ekiti State, I commiserate with the Afuye family and the people of Ikere Ekiti. May the good Lord give everyone of us the fortitude to bear this loss”, Oyebanji said. Speaking in the same vein, the Southern Senators Forum via its Chairman, and representative of the Ekiti Central Senatorial District at the Senate, Senator Opeyemi Bamidele, described Afuye as one leader that contributed immeasurably to Ekiti’s development through effective lawmaking and partnership with the executive. Bamidele, in a statement signed on behalf of the 51 Senators, last Thursday, sympathised with the Ekiti State Government, Afuye’s family and political associates, on the loss of this priceless leader, who gave his physical and intellectual resources to develop the state. The Forum said; “Hon Funminiyi Afuye was one leader that had etched his name in gold in the building of Nigeria’s democratic institution. He was patriotic and that necessitated why he put his life on the line fighting military junta as a member of the defunct National Democratic Coalition (NADECO). “Since the advent of democracy in 1999, the late speaker had also contributed richly to entrench good governance, and worked hard to fasttrack deployment of the instrument of democracy to usher in development, and make lives more rewarding for the citizens. On its part, the All Progressives Congress in a statement by its state Publicity Secretary, Segun Dipe, regretted that Afuye had left a big vacuum by his sudden departure. The party commended the quintessential roles played by the deceased’s politician and expressed gratitude to him for standing up to be counted when the APC was at the crossroad in its political journey and evolution. The body of Local Government and Local Council Development Area Chairmen/Chairpersons, (ALGON), Ekiti State, in a statement released by its Public Relations Officer, Prince Michael Ogungbemi, the Chairman of Ajoni LCDA, described the late lawmaker as a selfless and passionate political strategist, who worked tirelessly for the economic growth and political stability of the State. “As a former Hon. Commissioner for Information and Civic Orientation and two term member of the State House of Assembly, he was humble, accessible and compassionate. He was very active in the progressive political family which has brought monumental development to Ekiti State”. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ OCTOBER 26, 2022

FEATURES

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

Championing Agripreneurs to Sustain Food Security for Next Generation Farmers Rebecca Ejifoma details the experiences of two agripreneurs and beneficiaries of the Golden Morn Agripreneurship Webinar Series, Joshua Bitrus and Favour Adeleke, who were among the 16 beneficiaries funded N8 million and the 600 beneficiaries trained and mentored across Nigeria to champion sustainable food business for the next generation of farmers

Participants/beneﬁciaries of the Agripreneur Webinar Series with Salome Azevedo, Business Executive Oﬃcer, Nestlé Central & West Africa and Ifeanyi Orabuche, Category and Marketing Manager Dairy, Nestlé Nigeria PLC

“I

am delighted to be a recipient of the Golden Morn Agripreneurship Webinar Series grant. The grant will go a long way towards actualising business expansion, not only for myself but also for other recipients," says Joshua Bitrus of Agrigain Locura Ventures, Kaduna, one of the 600 beneficiaries of the Golden Morn Agripreneurship Webinar Series across the country. And because Bitrus is one of the many enthusiastic voices crying in the country for more youths to explore the many agricultural opportunities having been empowered with N500,000 seed funding, he lent his voice. "I call on other young people to take advantage of the opportunities provided by companies such as Nestlé Nigeria." Of course, the joy of Favour Adeleke, another beneficiary of the Golden Morn Agripreneurship Webinar Series knows no bounds. She was among the few chosen to partake in the grant. “This initiative from GOLDEN MORN is a launching pad for young entrepreneurs in agriculture by providing the critical knowledge, skills and platform. We need to access the limitless opportunities in entrepreneurship and agriculture. Through the training, we are better equipped to navigate the bottlenecks of business.” Adeleke, who also got N500,000 seed funding is elated for many reasons. One of which is that she has had amazing value-adding learning, unlearning and relearning experiences. "I am now well prepared to scale up exponentially and achieve great results in my entrepreneurial field," says the enthusiastic agripreneur. Undoubtedly, the words of the inspirational writer, Lailah Gifty Akita capture the resolve of the UN Sustainability Development Goal 2 to be achieved by 2030 when she said one of the sustainable approaches to food security is sustainable agricultural practices. Adding to it that “Zero hunger is possible with the growing of much more crops on every land, people of every nation will have plenty food". Agripreneurship Webinar Series Hence, Golden Morn, one of Nestlé Nigeria’s leading brands, in collaboration with the Enterprise Development Center of the Pan Atlantic University (PAU) was awakened by the reality that the Nigerian population is estimated to reach

400 million by 2050 from its current over 200 million population in 2022. Hence, it created the Agripreneurship Webinar Series to foster sustainable food systems by increasing youth participation in the sector. The Webinar Series exposes young agripreneurs to relevant training on different aspects of the agricultural value chain, with a laser focus on grains. For the post training, beneficiaries are supported with seedling and mentorship to enable them to thrive in their businesses. While the fifth series of the programme is scheduled for October 2022, the webinar is open to all budding or existing agric-based entrepreneurs aged 18 to 35 years. Today, the webinar series has had four editions and awarded 16 participants with seed funding of N500,000 each, which totals N8 million.

and platforms to enable you to create or scale your businesses and improve livelihoods within the agricultural value chain," says the MD. Elhusseini encouraged them to utilise the grants to leverage the mentorship and the networks they have formed to make a significant impact by creating jobs for the teeming Nigerian youths.

Grants Presenting grants to nine beneficiaries from the third and fourth sessions of the Golden Morn Agripreneurship Webinar series, the MD/CEO of Nestlé Nigeria PLC, Wassim Elhusseini highlighted, “I am excited at yet another opportunity to celebrate the next generation of farmers who will continue to feed our rapidly growing population, the entrepreneurs and innovators of tomorrow. "Your passion validates the strategic importance of Golden Morn’s investment to provide support, opportunities

Food Security The Agripreneurship Webinar Series programme is designed to provide support for young entrepreneurs already engaged in or set to start-up businesses in the agricultural sector through training, funding, mentoring and networking opportunities. This is because according to the Golden Morn, food security is considerably significant. According to Corporate Communications and Public Affairs Manager, Victoria Uwadoka "Today, the demand for food appears to be outstripping supply as a result of reduced productivity combined with post-harvest waste." She outlined that to reverse this trend, there is

Entrepreneurship as Critical Pathway For the Project and Finance Manager of the Enterprise Development Center (EDC), Pan Atlantic University, Obianuju Okafor entrepreneurship is a critical pathway to improving the economy and upscaling the agricultural value chain. "We are delighted that our continued collaboration with Nestlé GOLDEN MORN on the Agripreneurship Webinar Series continues to provide excellent opportunities for young agripreneurs to be trained on creating and running sustainable business models, to enable them to increase their business productivity, ultimately impacting positively on the economy of the nation," he emphasised.

The average age of farmers today is 50 years. This is a gap we must ﬁll to ensure we not only feed the present generation, but we secure the future. To achieve this, we must build sustainable food systems by attracting and building active youth participation in the agricultural sector

a need for innovative solutions to modernise the nation's farming methods. Her words, "We must look beyond the farmgate and harvest towards food transformation and preservation. This is where entrepreneurs in the agriculture space, also referred to as agripreneurs, come in." While conceding that Nigeria is a country with one of the youngest populations with a median age of 18 years and about 70 per cent of the population under 30 according to the National Population Commission, Uwadoka frowned at the fact that the average age of farmers today is 50 years. "This is a gap we must fill to ensure we not only feed the present generation, but we secure the future. To achieve this, we must build sustainable food systems by attracting and building active youth participation in the agricultural sector." An Iconic Brand Golden Morn is revered as an iconic brand from the stable of Nestlé, the Good Food, Good Life company. It is committed to unlocking the power of food to enhance the quality of life for everyone today and for generations to come. Known as a nutritious and great-tasting cereal made from homegrown Nigerian Maize and Soya Protein, GOLDEN MORN is fortified with vitamins and minerals, aligned to the highest international quality standards. With 100 per cent of the grains used to produce GOLDEN MORN cereal sourced locally, there is no gainsaying then that the brand is not only contributing to sustaining Nestle’s local sourcing ambitions but is also positively impacting the local economy by cultivating the next generation of farmers. Nestlé Nigeria's Consistent Delivery Nestlé Nigeria is one of the largest food and beverage companies in Africa. For over 59 years, the company has been delighting consumers around Nigeria by consistently delivering high-quality nutritious food. With a staff strength of over 2,200 direct employees, three manufacturing sites, seven branch offices and a head office located in Lagos, the company produces and markets several iconic brands including Nestlé Purelife, Golden Morn, Milo, Maggi And Nescafé.

T H I S D AY ˾ OCTOBER 26, 2022

FEATURES

Spotlight on Pasta's Rich Nutrient Sustainability through Wheat Production Sufﬁciency On World Pasta Day 2022, Uzoma Mba highlights its growing popularity, rich nutrient sustainability and the role government plays in ensuring wheat production self-sufficiency coupled with investments channelled by private organisations such as Crown Flour Mill into developing the sector

ot many nourishing food types come in fine shapes. The shapes and sizes of pasta are endearing. This food type has been ingeniously shaped into enthralling varieties that resemble angels’ hair, alphabets, tubes, butterflies, necklaces, and bowties amongst others. Eating a portion of pasta is like consuming a piece of art. How this food is served is also striking. Like a riveting Caribbean night, pasta servings come with assortments. Chefs treat the amazing food like an artist's canvas – daubing it with sauces mixed with creams, tomatoes and veggies. Besides the artistic angle of the food, pasta is highly nutritious. It is only fair to dedicate one day in a whole year to celebrate pasta. World Pasta Day is celebrated on October 25 every year. The observance promotes the rich and healthy food, and it provides a platform to review the culinary pleasure of eating a dish of pasta. According to the latest research, pasta is fat-free. As well, it contains low sodium and low glycaemic index, which means it doesn’t trigger an unhealthy rise in blood sugar level. The food’s vitamin and folic acid composition make it an ideal food for pregnant women. More, pasta can be combined with other food types on a menu. It usually forms an ideal dish partner with meat, vegetables, poultry, and sea foods. When combined with veggies and lean proteins, pasta does come in handy for consumers aiming to achieve some healthy dietary goals. Considering the nutrient composition, the ingenious input at the factory levels and the rich varieties, the food type would continue to feature strongly in the global food mix for a long time. In Nigeria, pasta continues to gain popularity. It is a prominent part of the deep assortments across shelves at retail stores, supermarkets, and local stalls. For instance, Abayomi Oluwo, the Managing Director of Igba Enterprises, a product distribution firm that is located at Olodi-Apapa road, told the local media that there is heightened competition in the local pasta market. Consumers have had to pick from a smorgasbord of brands. Mrs Ronke Oshineye, a food vendor in the Shomolu area of Lagos State, hinted about her customers' preference. She stated, “When I prepared Crown Premium Spaghetti in my restaurant, the customers described the taste as very nice. They all said that they preferred Crown Premium Spaghetti which I currently cook.” Crown Premium Spaghetti (nonsticky) is one of the deep lines of food products produced by Crown Flour Mill (CFM) Limited, the flourmilling subsidiary of Olam Agri, a global agribusiness transforming food, feed, and fibre. The other pasta brands produced by the firm include Crown Slim Spaghetti, Crown Twist Cavatto, and Crown Elbow Macaroni. They are all highly fortified with micronutrients to nourish consumers. However, pasta is produced from a dough of durum wheat, and Nigeria currently imports a large portion of the wheat it consumes. The recent global socioeconomic downturns such as the COVID-19 disruption to the global supply chain, the escalation of hostility in Ukraine and Russia, two of the top 10 wheat exporting countries, climate

Speedy-spaghetti-arrabbiata-featured-e

Raw-spaghetti-tied-sheaf-stands-dark-glass-black-background-whole-grain-italian-spaghetti-pasta

change and foreign exchange liquidity issues, meant the country can no longer rely on commodity import.

Essentially, it must accelerate its wheat development plans to reduce reliance on the importation of the commodity. Hence, asides from making

Our intervention eﬀorts are driving growth in the local economy. At the factory level, we are also investing in micronutrient premix infrastructure to ensure the consumers have access to the highly nutritious brands of foods necessary for proper mental and physiological well-being of the population

its pasta brand available widely, CFM is driving growth in wheat production in Nigeria in line with the Federal Government’s wheat production selfsufficiency and food security agenda. The flour-milling firm launched its signature value chain development initiative tagged Seeds for the Future in 2021. The project is addressing the various topographical and climatic challenges that keep impeding the effective delivery of growth in the local wheat industry. Precisely, it is aiming to produce wheat varieties that suit the local landscape while adopting a communitybased seed multiplication model that would ensure that the country provides the commodity in sufficient quantity to cater to local needs within two decades. Remarkably, the firm has achieved a milestone in this wheat production projection. In the first-year report on the project unveiled recently, the business announced that it met its year-one target of producing 10 kilograms of pre-multiplication early maturing wheat seed varieties that are suitable for Nigeria’s unique local topography and climate. According to Ashish Pande, Country Head, Olam Agri Nigeria, the achievement of the first-year target on the Seeds for the Future underlines the aptness of the model adopted on the project to develop the wheat sector. He said, "It also demonstrates our determination to push Nigeria closer to achieving food production selfsufficiency in quick time, in line with the Federal Government's economic development agenda.” Adding that the company is focused on ensuring growth across the food production value chain. “Our intervention efforts are driving growth in the local economy. At the factory level, we are also investing in micronutrient premix infrastructure to ensure the consumers have access to the highly nutritious brands of foods necessary for proper mental and physiological well-being of the population.” World Pasta Day 2022 certainly has shifted the spotlight to the rich nutrient and sustainability feature of pasta. The various wheat production selfsufficiency policies of the government and the investments channelled by private organisations such as CFM into developing the wheat sector assure that Nigerian consumers will continue to have access to their rich pasta dishes like other ardent pasta lovers around the world, but perhaps at relatively more affordable prices. Olam Agri is a market leading, differentiated food, feed and fibre agri-business with a global origination footprint, processing capabilities and deep understanding of market needs built over 33 years. With a strong presence in highgrowth emerging markets and products across grains & oilseeds, animal feed & protein, rice, edible oils, specialty grains & seeds, cotton, wood products, rubber and commodity financial services, Olam Agri is at the heart of global food and agri-trade flows with more than 40 million MT in volume traded annually. Focused on transforming food, feed and fibre for a more sustainable future, it aims at creating value for customers, enable farming communities to prosper sustainably and strive for a food-secure future. Olam Agri is a fully owned subsidiary of Olam Group.

WEDNESDAY OCTOBER 26, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, OCTOBER 26, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

O C T O B E R

S & P INDEX

2 5 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Foreign, Domestic Investors’ Stake in Stock Market Down 33.94% on Global Economic Headwinds

Kayode Tokede Influenced by global and domestic challenges, domestic and foreign investors reduced their portfolios in the Nigerian equities market by 33.94 per cent in September to N81.90 billion ($187.09 million) from N123.97 billion ($289.04 million) in August 2022. The latest “Domestic & Foreign Portfolio Participation In Stock Trading” report of the Nigerian Exchange Limited (NGX), showed that domestic and foreign investors’

portfolio suffered the worst decline in 2022. THISDAY had reported that the stock market of the NGX in September depreciated by N429 billion or 1.6 per cent in September to N26.451 trillion from N26.88trillion it opened for trading, while the NGX ASI was down by 1.63 per cent to 49,024.16 basis points from 49,836.51 basis points it opened for trading. The NGX numbers showed that domestic and foreign Portfolio performance in September 2022 when compared to the performance

in September 2021 (N118.15billion) revealed that total transactions decreased by 30.68 per cent. According to the report, at about 75.98 per cent, domestic investors’ transactions outperformance foreign investors that transacted a total of 24.02 per cent in the month under review. The report stated that, “Retail investors outperformed Institutional Investors by 10per cent in September. A comparison of domestic transactions in the current and prior month (August 2022) revealed

that retail transactions decreased by 14.14per cent from N39.81 billion in August to N34.18 billion in September 2022. “Similarly, the institutional composition of the domestic market decreased by 49.87per cent from N55.95billion in August 2022 to N28.05billion in September 2022.” Capital market analysts have attributed the decline in domestic and foreign investors’ portfolio in the stock market to hike in Monetary Policy Rate (MPR) to 15.5 per cent, a double-digit inflation rate and an

attractive yield in the fixed income security. Speaking with THISDAY, The CEO Wyoming Capital and Partners, Mr. Tajudeen Olayinka said the decline in domestic and foreign portfolio in the stock market is an extension in bearish trend the market has suffered since the beginning of sequential interest rate hikes in May 2022, currently at 15.5 per cent. According to him, “investors exercised extreme caution in the month of September 2022, and are possibly still exercising extreme

caution till date, due to prolonged repricing of securities across markets and instruments. “A large number of investors might have decided to immunize their investments in less volatile instruments, including short-term money market instruments and currencies (notably U.S. Dollars). That also explains the reason for the persistent depreciation of Naira in the black market.” The Chief Operating Officer, Continued on page 27

IMF: Transparency Crucial for Nigeria to Maximise Benefits from Oil, Gas Nume Ekeghe The International Monetary Fund (IMF) has insisted that for Nigeria to benefit from the oil and gas sector with the newly restructured Nigerian National Petroleum Company (NNPC), there needs to be transparency in its reporting and its entire ecosystem of the sector. The Brentwood institution stated this in its latest report titled, “Good Governance in Sub-Saharan Africa: Opportunities and Lessons.” Again, it re-emphasised the need to strengthen oversight on the NNPC through the office of

the auditor-general of Nigeria as well as improve legislative actions. It stated: “Strengthening transparency is crucial if Nigeria is to receive maximum benefits from the oil and gas sector. The IMF’s Fiscal Transparency Code requires that resource corporations report on project-level fiscal payments to and from the government, reconciled with government receipts in line with international standards, with no major unexplained reconciliation errors. In line with good practices, it is important for the NNPC to disclose all revenue transfers and remittances to the federation

account by providing complete and timely information that ensures the accountability of its receipts and expenditures. The corporation could also consider enhancing and integrating its transparency practices by reporting on environmental, social, and governance considerations.” The fund noted that the Sustainability Disclosure Guidelines established by the Nigeria Exchange Limited (NGX) could provide useful guidance in this regard. The guidelines are intended primarily to provide the value proposition for sustainability in the Nigerian context citing that it articulates a

step-by-step approach to integrating sustainability into organizations, indicators that should be considered when providing annual disclosures, as well as timelines for such disclosures. Furthermore on oversight, it added: “The role of the auditorgeneral can be strengthened. The constitution does not give the auditor-general a direct mandate to audit NNPC. It establishes the appointment of the auditor-general to audit public accounts and offices of the federation but explicitly excludes the accounts of government statutory corporations from the mandate.

However, it grants the auditor-general power to conduct periodic checks aimed at verifying that spending is in accordance with the Ministry of Finance’s instructions and at investigating expenditure patterns of the government, including payments by NNPC to the federation account. “The Office of the Auditor-General is resource-constrained and requires greater financial and operational independence, and this impacts the timeliness of the information provided to the National Assembly. The relationship between the Office of the Auditor-General and the oversight committees of the National Assembly

should be enhanced to ensure that, to the extent possible, current financial, fiscal, and governance challenges related to SOEs are being analysed and discussed. In addition, these steps could be combined with examinations of audit reports by parliamentary committees, allowing public hearings during the review process, and submission of a report to Parliament on the issues arising from the audit reports.” The IMF added that the fiscal oversight role of the Ministry of Finance should be enhanced, “The Continued on page 27

M A R K E T D ATA A S AT T U E S D AY, O C T O B E R 2 5 , 2 0 2 2 BILLS

BONDS DESCRIPTION Price ^14.20 14MAR-2024 13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

Yield

100.09

14.10

98.81

14.11

95.89

14.10

106.13

14.35

98.93

14.26

Change Updated Time (%) 21, 0.00 October 2022 21, 0.36 October 2022 21, 0.00 October 2022 21, 0.00 October 2022 21, 0.00 October 2022

MATURITY NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

Discount

Yield

5.91

5.93

10.85

11.17

8.32

8.53

8.96

9.27

10.07

10.62

CPS

Change Updated Time (%) 21, 0.00 October 2022 21, -0.01 October 2022 21, -0.01 October 2022 21, 0.00 October 2022 21, 0.00 October 2022

MATURITY FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22 DLMG CP IV 11-NOV-22 FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23

Discount Yield 9.16

9.17

8.30

8.31

12.74 12.84 15.94 17.03 20.18 22.16

Change Updated Time (%) 21, 0.00 October 2022 21, 0.00 October 2022 21, 0.00 October 2022 21, 0.03 October 2022 21, 0.01 October 2022

OTC F X F U T U R E S CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS OCT 26 449.69 October 21, 1 2022 2022 October 21, NGUS NOV 30 2 451.43 2022 2022 NGUS DEC 28 453.18 October 21, 3 2022 2022 NGUS JAN 25 454.92 October 21, 4 2023 2022 NGUS FEB 22 456.67 October 21, 5 2023 2022

WEDNESDAY, OCTOBER 26, 2022 ˾ T H I S D AY

BUSINESSWORLD

INVESTMENT

Pinnacle’s $1bn Terminal: The Power of Vision, Disruptive Innovation The recent inauguration of Nigeria’s first offshore, subsea petroleum products terminal constructed by Pinnacle Oil and Gas Limited, not only represents a major landmark in the country’s petroleum sector, but also portends disruptive innovation in Enugu State, writes Gilbert Ekwugbe

L-R: The Governor of Lagos State, Mr Babajide SanwoOlu; Group Managing Director, NNPC Limited, Mr Mele Kyari; Founder and CEO of Pinnacle Oil and Gas, Dr. Peter Ndubuisi Mbah during the commissioning of Nigeria’s ﬁrst oﬀshore subsea petroleum products terminal by President Muhammadu Buhari in Lagos… recently

quote usually attributed to former President of South Africa, Nelson Mandela, says, “It always seems impossible until it is done.” This significantly explains Pinnacle Oil and Gas Limited’s journey to the zenith of Nigeria’s downstream petroleum subsector, particularly its latest exploit and Nigeria’s first offshore subsea petroleum products terminal commissioned by President Muhammadu Buhari at the weekend. In inaugurating the facility, not even the President could hide his excitement, pride, and joy in this feat. He acknowledged the “massive investment and the obvious contributions it (the facility) has made to our overall economic well-being.” He said: ‘’We have recognised that seamless supply and distribution of petroleum products is challenged by infrastructure deficit and complicated by the congestion in the Apapa areas of Lagos since the start of our administration in the year 2015. I am happy today that Pinnacle Oil and Gas limited leveraged the opportunities (provided by the administration) and established this massive terminal facility. ‘’I am happy to also note that further expansion works, which are starting will further provide incremental value, especially more employment to our teeming youth population.” Throwing more light on the world class petroleum terminal, the founder and CEO of Pinnacle Oil and Gas, Dr. Peter Ndubuisi Mbah, explained: ‘‘Mother Vessels arriving at the facility will have the opportunity to berth at either of our two offshore berths. Either the Conventional Buoy Mooring (CBM), which is in 17m of water depth and can handle vessels of up to 120 million litres, or our Single Point Mooring (SPM), which is in about 23m of water depth and can handle vessel sizes of up to 200 million litres. ‘’These moorings are connected to our storage facilities by four networked pipelines of 40km total length. These pipe networks are designed to empty the vessels in a maximum of two days, a significant improvement on the previous duration, which could take up to 30 days. ‘’Our shore tank farm is currently able to handle up to 300 million litres of Premium Motor Spirit (PMS) as well as diesel or Automotive Gas Oil (AGO), and the facility is designed to permit rapid discharge into trucks for evacuation at a rate of up to 20 million litres per day.” Presently, Pinnacle Oil and gas has no competition in respect of this facility because no marketer boasts of a terminal capable of taking a vessel size of 150,000 tons or a vessel size of 90,000 tons without lightering. Also, whereas the draft of a deep seaport is usually 14.5 or 15 metres and seaports with 12 metres

equally considered substantial, this facility is a port of about 17 metres and 23 metres, respectively. Consequently, it can take all sizes of vessels, including the Suez Max, LR2 (Long-range 2), LR1 (Long-range 1) vessels, among others, without hassles.

THE LITTLE BEGINNING

Pinnacle Oil and Gas is today the leader of the petroleum downstream by volume and market share, commanding 23 per cent of the market share as against 5 per cent controlled by its closest competitor. However, like Amazon, which started from the garage of Jeff Bezos rented home and the Apple story, which started out in Steve Jobs’ garage, the huge success story that Pinnacle has become today started with just two staff in a one-room apartment. Mbah summed the story of the firm’s humble beginning in a June 13, 2022 edition of THISDAY Newspapers. “Pinnacle commenced operations in 2008 and we started off in a one-bedroom studio apartment somewhere on Ahmed Onibudo Street on Victoria Island, Lagos. I started it off with about two other guys -one was my secretary and the other was my dispatch man. That was essentially how we started and what we did was largely the buying and selling of petroleum products. We bought and sold products from the terminals and we also got involved in looking at the movement of the market onscreen. “In summary, we started from that humble background, what you could describe as zero-base and of no reckoning, ”he said. But even at that the vision bearer was clear where he desired the company to be, the reason he settled for the name, “Pinnacle” at the founding of the firm in 2004. “Even from that humble beginning, we envisioned that we were going to play a dominant role in the petroleum products market in Nigeria. In the course of growth, the only thing that changed was that we moved the word ‘Nigeria’ to Africa because it got to a point where we felt that the Nigerian market was not going to be our limit. “We knew that the downstream oil and gas industry was a matured market and we already had dominant players. The market was already distributed. The big players had already captured their shares in the market. The question then for us was: how do you become a dominant player in an already matured market? If you were dealing with an evolving market, a nascent market, it’s easier because everybody is struggling for a market size and companies

are trying to capture different segments of the market. But that wasn’t where we were. We were in a space that companies had already taken their positions and had captured their various sizes. So, we knew that growing incrementally was not the option. We knew we needed to come up with a disruptive idea that would help us displace some of the dominant players and take that dominant position that we had envisioned. “What we did was to look at the compelling business problems that existed. We observed that those problems, those challenges existed in the operations space. We observed that the industry relied a lot on multiple handlings of cargoes before they get to the end-user, and we felt because of the cost intensity of those multiple handlings, made it largely inefficient in terms of cost and time. So, we felt that the sub-optimisation needed to be disrupted, which was how we came up with this idea of eliminating those multiple handlings by creating what is known as an offshore intake facility, or if you will, what is also described as an SPM (Single Point Mooring system) and CBM (Conventional Buoy Mooring system). The best way to describe them is like an open seaport – a port in the middle of the sea. So, just like you have ports for dry cargo by the shore, the difference with this is that we had to do a subsea pipeline of about 40km network of pipelines. “It is subsea, so it’s beneath the seabed. These are complex engineering that require a whole lot of data and survey in order for you to even commence the design. But we knew that this was radically going to change the face of the industry. So, it took our attention away from those huge trading that our colleagues were doing at the time because we knew that ultimately, it was going to be a quantum leap once we got it right. So, we persevered. “To cut a long story short, by March last year (2021), we operationalised one of the mooring facilities – the CBM. That became operational in March 2021, and by September, what we had envisioned became a reality. That is clear 10 years from 2011 when we got the concession from the Lekki Free Zone to do the SPM, “he said. Meanwhile, the expected completion of some refinery projects to take Nigeria’s refining capacity to about 1.4 million barrels per day in a few years will boost rather than diminish the need for the facility. With its bidirectional capability for both import and export or receiving and loading back products, it is a resilient infrastructure that

complements rather than competes with the refineries.

A DISRUPTIVE MANIFESTO

Clearly, the meteoric rise of Pinnacle Oil and Gas to the zenith of the already mature downstream subsector lies in the power of vision and disruptive innovation. Mbah does not believe in bandwagon, for according to him, a company that seeks exponential growth must do something differently and radically. “For us, incremental growth was not the way for us. We needed that quantum leap, that exponential growth and what could bring it to bear was disruptive innovation: doing things completely different and not doing it in a conventional way. So, what we did was largely a disruptive innovation, which enabled us to capture the market share, ”he explained. Since charity begins at home, Mbah, who is the governorship candidate of the Peoples Democratic Party in Enugu State for the 2023 election, is also poised to replicate the Pinnacle phenomenon in his home state. he has unveiled an ambitious manifesto promising, among others, to take Enugu’s Gross Domestic Product (GDP) from $4.4 billion to a minimum of $30 billion, build 10,000km of roads, and pursue a zero per cent poverty headcount index. To the doubting Thomases, he said: “Before we jump into conclusion as to whether it’s possible to grow the Enugu economy from $4.4 billion to $30 billion, you have to look at what we have done in the private sector to give credence to what we are saying. It will require not incremental growth as I said, but will require taking disruptive decisions, doing things that are creative, making Enugu State the preferred destination for investors, for businesses, for living and also for tourism. “I recall, when we brought in some resource people to train us (at Pinnacle) on strategy, we expressed to them how we wanted to grow our revenue then from N29 billion to N600 billion annually. They thought it was mad, that it was only crazy people that could imagine such a thing, because you don’t grow at that rate. If you did a 10 per cent growth rate, you are a first star company, but growing from N29 billion to N600 billion is like growing at more than 150 per cent per annum. However, today, we have beaten that number. We are not even at N600 billion; we are well above that.” In a country where leadership appears left in the hands of career politicians, the entrance of a prolific entrepreneur, former Chief of Staff and Commissioner for Finance into Enugu’s governorship race, no doubt, presents the State with a massive opportunity for uncommon transformation.

WEDNESDAY, OCTOBER 26, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

R-L: Executive Director, Maritime Labour and Cabotage Services, Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Victor Ochei; Executive Director, Operations NIMASA, Mr. Shehu Ahmed; Director General NIMASA, Dr. Bashir Jamoh; Head of Delegation from the joint United States Coast Guard( USCG)/Department of State Team, Capt. Brian Lisko (USCG, Rtd) and Executive Director, Administration and Human Resources, Mr. Chudi Oﬀodile during a visit by the USCG and US Department of State to the NIMASA headquarters in Lagos… recently

Apapa Gridlock: NPA Blames Obsolete Paint Manufacturers Processing System, Embraces Technology Lament FX Scarcity, Rising Ugo Aliogo The Nigerian Port Authority (NPA), on yesterday, blamed the Apapa worrisome gridlock on the obsolete cargo processing and clearing system introduced in the 70s. Speaking at the 55th Session of the State House Briefing, the Managing director and Chief Executive Officer of NPA, Mohammed Bello Koko, noted that the Tin Can and Apapa ports were built in the 70s with a manual processing system, which consequently caused gridlock in the axis as Lagos State population grew fatter. He said technology has been introduced into the system, a development he stated, has eased the stress of gridlock. He stressed that such processes

will be replicated in the Lekki Port and other ports across the country. He said: “The current and existing ports of Tincan and Apapa’s problem are that these ports were built in the 70s and the city has caught up with those ports and that is why we have perennial traffic and gridlock. We used to have manual manifest of trucks into the ports. The two ports handle apparently 1500 truck movements daily into the ports. We entered into partnership with truck Transit Park and an electronic callup system which we named ‘Eto’ (Yoruba name for orderliness), which has resulted in fundamental ease in the traffic situation in the Lagos ports. “With the result of this, we are trying to deploy it to other port locations. We are seeing gradual gridlock and we will deploy to

Lekki and other port locations. What we have done is to ask the private sector to set up truck parks. Through that, the system has created employment and also added value. We are also sure that by the time the road construction, especially the one leading to Tin Can, is done and things will get better.” Speaking on the integrated system through technology, Koko disclosed there is work in progress and partnerships with foreign technology companies. “We realised that there is a need for an ultimatum that will be used by all stakeholders so we have consulted the International Maritime Organisation (IMO), that will assist with what we call the Port Community System. It is going to be a platform for exchange

of information and data between relevant stakeholders and agencies in the maritime industry and the consultant has already begun. The consultants at a phase will have to visit the offices of the major stakeholders to see into their ICT system to see how they can integrate all the systems,” he said. During the brief, Koko also noted NPA is working closing with shipping lines cautioning them not to turn Nigeria into a dump site for empty containers. “We have also introduced the empty container policy. We realised that the shipping lines have turned Nigeria into a dumping site for empty containers. We have instructed that all shipping lines should evacuate the 80 per cent of all containers imported at any given time,” he said.

Stakeholders Seek Implementation of Gas Flare-out Program to Close Domestic Supply Gaps Oluchi Chibuzor With Nigeria ranked as one of the fastest growing Liquified Petroleum Gas (LPG) markets in the world, to meet its current domestic demand, the need to implement the National Gas Flare-out programme to close the country’s domestic supply of LPG has been re-emphasised. This is as domestic consumption reached 1.3 metric tonnes per annum in 2021 in the face of increasing price of the commodity. Speaking at the ongoing Nigerian Liquified Petroleum Gas Association (NLPGA), former Special Assistant to the President on Petroleum matters,

Ja’afaru Paki, said that high demand outstripping supply has created sharp increases in the price of LPG. He pointed out that LPG supply remains inadequate due to nonfunctional refineries, inadequate natural processing plants and difficulties in importation. According to him, “The LPG production level is far below the growing market demand. In fact, in my opinion, the LPG market is still untapped. It is estimated that once the market is developed, it is expected to contribute considerably to our economy. The forecast of LPG demand is estimated to substantially increase in the next 15years. There

is, therefore, a need to put in place a reliable and efficient production and supply system, financial and fiscal policies that will guarantee the attainment of the expected demand.” “To mitigate this price surge, the LPG supply chain must be improved by the following: More producers to increase the quantity of LPG to the domestic market; Private entrepreneurs to embark on natural gas processing; Implementation of flare out program (NGFCP); Ensuring petroleum refineries are revamped and functioning and reducing/ waiving import duties and levies on LPG assets like equipment, chemicals etc.”

Speaking also at the event, the with the theme, “Looking Back and Looking Forward,” the Managing Director, NLNG, Dr. Philip Mshelbila, said they would continue to ease the challenges around the availability of LPG in Nigeria. He noted that since 2007 It has consistently made the product available in the domestic market, noting It has accepted buyers of all sizes thus creating economic opportunities for Nigerian companies leading to increased investment, improved local competence, creation of jobs, and increased economic activities within the country.

Afrinvest: Nigeria Yet to Explore Opportunities in Investment Banking Gilbert Ekugbe Afrinvest West Africa Limited has stated that Nigeria is yet to fully take advantage of the opportunities that lies in investment banking, noting that there is still a lot of room for growth and investment opportunities for players in the industry. The Group Managing Director, Afrinvest West Africa Limited, Mr. Ike Chioke, at a press conference to announce the future of Afrinvest to its old and new stakeholders and plans to launch its 2022 banking sector report on the 26th of October, 2022, said some of the global investment banks across the globe have continued to record trillions of dollars in turnover and billions

of dollars in profits, but expressed optimism that Nigeria’s investment banking industry has the capacity to tap into the global investment banking space. “I think our humble ambition at Afrinvest is to be the Goldman Sachs of Africa and just under 200 employees and seven companies, there is still a lot of room for growth, but the journey of 1000 miles starts with one step. The new Afrinvest identity is going to be unveiled. We have plans to go internationally and we have already begun the process of setting up offshore entities that will allow us from there begin to make acquisitions in different parts of Africa to allow the business to get the scale and capacity it needs

for more growth momentum going forward,” he said. Speaking on the future of Afrinvest, he called Afrinvest Sparkle, Chioke said is a combination of multiple projects to present an opportunity to showcase the firm in a new way, adding that the event would also provide an opportunity for its stakeholders to be appraised of both the old, the present and the future of Afrinvest. “Today, we have seen operating companies with Trustee technology firm, asset management, issuing house and investment research and all of that have combined together to build what is regarded as one of the leading investment banking firms in the country. We will be doing what

we have always been doing in the last 17 years which is to launch our 2022 banking sector report. We will also be celebrating our 27th anniversary and showcasing the new management of all the new companies in Afrinvest to show leadership transition,” he said. Speaking on one of its new companies, Optimum it would be launching, he said is a new digital wealth management platform it has been working on for the last two years. He also added that the event would also give the company the platform to unveil its new logo to signal its move into the digital investment banking to deliver effective customer services to its clients.

Cost of Raw Materials Gilbert Ekugbe The Paint Manufacturers Association of Nigeria (PMAN) has decried the scarcity of foreign exchange for manufacturers, adding that skyrocketing prices of paints raw materials and packaging inputs is pushing the cost of production to the roof top. Indeed, the association stated that the sector is still beset with myriads of challenges as the sector is still passing through trying and difficult time on account of negative effects, the Covid 19 pandemic has had on the operations of its members. The Chairman, PMAN, Mr. Ambolu Babatunde in a chat with newsmen added that industry is still struggling with the effects of the shutdowns in 2022, pointing out that the sector is still being challenged by scarcity of foreign exchange, skyrocketing prices of paints raw materials and packaging inputs as well as sales of finished paint products, stressing that these bottlenecks have pushed the cost of production to the roof top. “They have also made the business environment unfavourable and unattractive to investors. With these challenges, our products will be uncompetitive when the African single market eventually takes off,” he said. He stated this at the PMAN Nigeria 2022 coating show tagged, “Maximising the opportunities of the African Continental Free Trade Area in post Covid era,” in Lagos. He however, assured paints users in the country and Africa that PMAN is committed to transiting to the reformulation/ production of lead free paints for healthy environment even as monitoring and enforcement are billed to commence soon. He added that its members are yet to explore African markets fully, noting that only a fragment of players in the industry is selling their products through the informal routes to some West African countries. Babatunde pointed out the need to explore ways and strategies to penetrate other

markets outside the shores of the country. According to him, there is the need for paint manufacturers in Nigeria to adhere to current and future developments in the manufacture and sale of paints, developments in raw material input for industry, saying that other issues include lead contents paints, environmental issues, improved quality of their products to enable them benefit from the African Continental Free Trade Area (AfCFTA) which will soon take off. He pointed out that some industry players have observed that the paint industry is facing the challenges of dearth of middle level manpower(paint technicians) and have called for the restart of the Certificate programme in Paints and Coatings Technology at the Yaba College of Technology, stressing that the programme collapsed due to wrong management decision at the institution. “The National Executive Council, our parent body and other stakeholders are looking at the various options available. The programme maybe run on a new arrangement if things work out as envisaged,” he said. Also speaking, the Chief Executive Officer, Raw Materials Research and Development (RMRDC), Prof. Ibrahim Hussaini Doko, said the industry has grown and evolved over time, saying that Nigerian paint industry is one of the largest Gross Domestic Product (GDP) contributors in the country and a major player in the deployment of labor and economic advancement. The Director, Research and Advocacy Support Division, MAN, Dr. Oluwasegun Osidipe, said Nigeria must have a trade policy in place before signing trade agreements, saying that a draft was submitted for the first time to the Minister of Industry, Trade and Investment two weeks as a result of advocacy. He said the essence of a trade policy is to clearly define the area of interest, adding that during negotiations, agreements must be signed in line with national aspirations.

24 T H I S D AY WEDNESDAY OCTOBER 26 2022 TR

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& RE A S O

Wednesday October 26, 2022 Vol 27. No 10060

opinion@thisdaylive.com

www.thisdaylive.com

TARIFF MATTERS AND WHERE THE CONSUMERS STAND It is not yet Uhuru for consumers, despite the reversal of tariff, writes SONNY ARAGBAAKPORE

See page 25

NO MORE ROOM ON THE PATANI BRIDGE JOSEF OMOROTIONMWAN canvasses need for a lasting solution to the problem of floods

See page 25 EDITORIAL SUNAK: PRIME MINISTER OF A CHALLENGED KINGDOM

See page 26

Tinubu’s policy document will refocus debate on the real issues, contends GBENGA OLAWEPO-HASHIM

BOLA TINUBU’S RENEWED HOPE 2023 Just when a number of patriotic Nigerians were beginning to express concerns about the ethno-religious nuances of the messaging in the 2023 campaigns, the Presidential candidate of the APC, Asiwaju Bola Ahmed Tinubu, launched the 85-page document envisioning the road map for governance if he and his running mate Kashim Shettima are elected. The document should help to fundamentally refocus discussions on the real issues about the future of Nigeria - economic prosperity, national security, infrastructural and social development. This for me is a welcome relief from the inane, emotive and the ephemeral, which the discussions surrounding 2023 Presidential Election has been, especially in the social media. Immediately the document was released, I tried to get a feedback from some of my younger friends, one, a deputy director in a federal agency, another, a music artiste. Their reactions were the same. The one who is a public servant summarised the perspective of both of them, “Oga, 80 pages that is theory, let us talk practical things.” The reactions of these my friends who are both graduates summarizes the prevailing antiintellectual culture in Nigeria among young people. I understand most young people do not want to read. I am usually counselled by my online advisors that any post longer than eight or ten lines runs the risk of not being read. Short hilarious or items suggesting sex or portraying nudity do better. I picked up issues with these my friends immediately, asking “what is wrong with theory?” I am yet to see any country in the world where the leaders promised a new society without laying a bold plan and a road map. Sometimes leaders exceed the target in the implementation of their plans and sometimes they underperform. When we talk about the French revolution, we talk about the several writings of French philosophers like Jean-Jacques Rousseau and Montesquieu. We talk about the Federalist papers of leaders of the American revolution apart from inspirational works of writers like Thomas Paine. In Russia, we talk about V.I Lenin’s New Economic Plan (NEP), that transformed Tsarist Russia uncompetitiveness in Europe into a modern state between (19181922). The nation on that foundation became a Super power. In Nigeria, our Independence leaders such as Dr Nnamdi Azikwe, Chief Obafemi Awolowo, Sir Ahmadu Bello laid down several thousands of pages of documents on their dream for a great Nigeria, and they delivered on their plans with Nigeria becoming one of the leading countries of the third world, a step ahead in the club of Malaysia and Thailand. The superlative performance of the Nigerian independence leaders between the period of limited independence and early independence (1955 -1966), had boldly written programmes as guide to action.

It was this culture on anchoring a political vision on a solid boldly written plan, programme, and action that Kingsley Moghalu and I in our intervention in the 2019 Presidential campaigns tried to re-awaken. Documenting a vision is a priceless practice in the scripture. “And the Lord answered me, and said, Write the vision, and make it plain upon tables, that he may run that readeth it.” (Habakkuk 2:2) What Candidate Ahmed Tinubu has done is to plainly lay down his vision. Now to the document itself, I will only limit myself to a quick review of Tinubu’s Economic plans, some comments on National Security and my expectation on the management of Nigeria’s diversity, due to space constraints. I would be more detailed on the Economy, because whatever promises anybody is making, if you do not have a plan of how to À QG WKH PRQH\ HYHU\WKLQJ HOVH LV D -RNH Here I have seen Tinubu’s profound grasp of Political Economy in a way equal or deeper than the late sage, Obafemi Awolowo. That should be expected as the Asiwaju lives in an era of more information. I start with his position on budgeting. Hear him: “Budgeting custom bases our annual EXGJHW DQG À VFDO SROLFLHV ODUJHO\ RQ WKH GROODU value of projected oil receipts, not only does WKLV SUDFWLFH DUWLÀ FLDOO\ UHVWULFWV WKH )HGHUDO *RYHUQPHQW·V À VFDO ODWLWXGH LW DOVR DWWUDFWV WKH Nation’s attention towards a single source of À VFDO UHFHLSW WR WKH GHWULPHQW RI RWKHUVµ &RQWLQXLQJ FDQGLGDWH 7LQXEX RͿ HUV KLV solution, “To achieve optimal growth in the long term we must wean ourselves from this OLPLWDWLRQ $ PRUH H΀ FLHQW À VFDO PHWKRGRORJ\ would be to base our budgeting on the projected level of government spending which optimises growth and jobs without causing XQDFFHSWDEOH LQÁ DWLRQ µ I cannot agree more. This is a radical departure from the Bretton Woods orthodoxy that has constrained growth since 1986 when IMF and World Bank succeeded in hijacking economic planning in Nigeria or better put, when Nigeria stopped economic planning. The proposed 10% economic growth target is achievable, and if the accompanying À VFDO DQG PRQHWDU\ PHDVXUHV DUH YLJRURXVO\ implemented, it is surpassable given the country’s current massive infrastructural

GHÀ FLW RI WR *'3 VWRFN DV FRPSDUHG to infrastructural stocks of middle income economies in the range of 70% stock of GDP as well as the nation’s high unemployment rate. The economic plan correctly singles out the digital economy as one low hanging fruit for foreign exchange earnings as well as job creation. Nigeria potential in this regard is even underestimated in the document. Nigeria is a latent cyber power, the 7th largest Internet user country in the world with over 104.4m users, the Global outsourcing market in the digital space is over 500billion dollars. Nigeria has a ELJ DGYDQWDJH KDYLQJ D \RXQJ KXJH Á XHQW English speaking and writing population that is enthusiastic about coding and software development. To be added to the digital sector as low hanging fruit for the economy will be a programme of optimization of Nigeria’s competitiveness, anG H΀ FLHQF\ LQ RLO DQG JDV as one of the sources of immediate cash for a growth focused economic plan. The oil and gas sector was mentioned in passing in the Renewed Hope 2023 document because of an understandable bias for the next new economy. We just needed a few tweaking in structure and personnel as well DV DSSOLFDEOH À VFDO UHJLPH LQ WKH RLO DQG JDV sector to harvest our natural advantages in the few remaining life of fossil fuel as an energy source. Candidate Tinubu’s tax plan is superb, that is his turf. His industrial and manufacturing agenda are inspiring. His planned return of Commodity boards is bold and welcomed. The commodities boards where technically Agric insurance platforms, their absence in the past thirty something years as a result of the pressure of the IMF for them to be scrapped has seen Nigeria lost its competitive advantage in crops like cocoa, groundnuts, oil palm, cotton, etc. In summary, the Tinubu Economic plan is core progressive policy platform that will return Nigeria to economic development, a SDWK ZH WUDYHOHG EHIRUH LQ WKH À UVW 5HSXEOLF and achieved phenomenal development. It is the path Malaysia, China, India, have walked recording outstanding results. It is the path Samir Amin calls the path of Autocentric National development, away from the path of arrested development of the past four decades. On the section on National Security, I have only seen basic and routine recommendations apart from the promise of an integrated database. I understand that you cannot be detailed in a published document on Security Plans, but I would have loved to see some real meat. I have not also seen serious position on how Asiwaju intends to manage the diversity of the country at a time of great division. Olawepo-Hashim LV D /RUG 0D[ %HORͿ 3UL]H ZLQQHU LQ *OREDO $Ϳ DLUV DQG 3UHVLGHQWLDO &DQGLGDWH LQ WKH *HQHUDO (OHFWLRQV

T H I S D AY

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WEDNESDAY OCTOBER 26 2022

It is not yet Uhuru for consumers, despite the reversal of tariff, writes SONNY ARAGBA-AKPORE

JOSEF OMOROTIONMWAN canvasses need for a lasting solution to the problem of floods

TARIFF MATTERS AND WHERE THE CONSUMERS STAND

NO MORE ROOM ON THE PATANI BRIDGE

The Nigerian Communications Commission (NCC) probably has more powers than it is aware of but may not KDYH VX΀ FLHQWO\ XQGHUVWRRG WKHP Otherwise how does one explain a position it took on what it considered a positive decision on the proposal of Mobile Network Operators (MNOs) but before the operators could settle down, the NCC remembered it had a board and pushed its decision to the board to take? Strangely, this board is willy-nilly tied to the apron strings of a Super Minister who could upturn a Presidential position. And so the NCC statement announcing the reversal of its own decision was okay but ended up idolizing the minister.

To observers and those familiar with the workings of the NCC, “this is an own goal” and the commission should brace up for the consequences of its actions and inaction. If the new position for the reversal RI WKH WDULͿ V PD\ EH DSSODXGHG E\ WKH consumers, because of the reduction or removal of the 10% hike in data price by two of the operators, it may not be well or in the interest of the operators and both the regulator and operators may resort to a cat and mouse game and in the process, WKH FRQVXPHUV VXͿ HU The operators had proposed and the NCC approved before we are told in a statement in apparent reaction to media criticism that a reversal of the proposed WDULͿ KLNH ZDV FRPPXQLFDWHG WR WKH Operators on October 12. The NCC said in the statement last week WKDW ´(YHQ WKRXJK WKH WDULͿ DGMXVWPHQW was proposed and provisionally approved by the Management, pending WKH À QDO DSSURYDO RI WKH %RDUG RI WKH Commission, in the end, it did not have the approval of the Board of the Commission. As a result, it is reversed”. The Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, has maintained that his priority is to protect the citizens and ensure justice for all stakeholders involved. As such, anything that will bring more hardship at this critical time will not be accepted. “This was also why he obtained the approval of President Muhammadu Buhari for the suspension of the proposed 5 per cent excise duty, to maintain a conducive enabling environment for the telecom operators. Much as there is an increase in the cost of production, the provision RI WHOHFRP VHUYLFHV LV VWLOO YHU\ SURÀ WDEOH and it is necessary that the subscribers are not subjected to a hike in charges. “In view of the above, the Commission,

through a letter sent on October 12,2022, KDV DOUHDG\ GLUHFWHG WKH DͿ HFWHG Mobile Network Operators (MNOs) to UHYHUVH WKH XSZDUG WDULͿ DGMXVWPHQW The Commission will carry out further consultations with all industry stakeholders on the best approaches that will protect and uphold the interest of both the consumers and the service providers.” But the NCC regulations and extant rules under the Nigerian Communication Act (NCA) 2003 are clear about the commission’s mandate except if it has forgotten that also. 6SHFLÀ FDOO\ FRQVLVWHQW ZLWK 6HFWLRQ 108 of the Nigerian Communications Act 2003, the Commission is responsible for WKH DSSURYDO RI WDULͿ V DQG RWKHU FKDUJHV for the provision of service by licensed telecommunications service providers. This it communicated to the operators based on their applications in this regard. The law says operators are to submit SURSRVHG WDULͿ SODQV WR WKH 1&& DQG steps to be taken for the approval of QHZ WDULͿ SODQV RU WKH PRGLÀ FDWLRQ RI DSSURYHG WDULͿ SODQV E\ RSHUDWRUV DV established by the Commission. 7KH $FW OLVWV FRQGLWLRQV IRU QHZ WDULͿ requests stating that applicants making a WDULͿ DSSURYDO UHTXHVW PXVW EH D OLFHQFHH RI WKH &RPPLVVLRQ DQG WKDW HYHU\ WDULͿ IRU HYHU\ VHUYLFH DQ RSHUDWRU RͿ HUV ZKHWKHU QHZ RU PRGLÀ FDWLRQ V PXVW be submitted to the Commission for consideration and approval. 6XFK WDULͿ DSSURYDO UHTXHVW PXVW FRPSO\ ZLWK DQ\ SULFH Á RRUV RU FDSV determined by the Commission for RSHUDWRUV ZKR RͿ HU YRLFH GDWD RU YDOXH added services. The Act also brings consumers into focus saying there should be NO automatic renewal of a plan without the customer’s consent. “At the expiration of a plan the subscriber should be given the option to either opt in to the current plan or subscribe to a new plan.” The NCC also says that “there should be NO automatic migration of subscriber’s data service to the Pay-AsYou-Go (PAYG) account upon depletion of the data bundle account except with the express consent and authorization of subscriber via SMS.” All unused data allowance at the expiration of a data plan should be rolled-over upon subscription of a new SODQ ZLWKLQ DQ\ VSHFLÀ HG WLPHOLQH DV determined by the Commission. “All DSSURYHG WDULͿ V PXVW EH ODXQFKHG within 60 days from the date of the FRQYH\DQFH RI DSSURYDO RWKHUZLVH VXFK approval would be considered stale and the operator will have to re-apply for consideration.” That section is clear about operators responsibility: “Any operator determined as Dominant must maintain all obligations placed on them.” The commission is expected to monitor WKH LPSOHPHQWDWLRQ RI DSSURYHG WDULͿ to ensure that it is consistent with the DSSURYHG EXVLQHVV UXOHV WKH WDULͿ guideline and NCA Act 2003. Sonny Aragba-Akpore is a member of THISDAY Editorial Board

:DWHU DQG À UH DUH RSSRVLWHV (DFK LQ LWV turn, has sometimes been man’s best friend, and at other times, his worst enemy. )RU LQVWDQFH ZLWKRXW À UH LW ZRXOG EH unimaginable how those delicious meals from our kitchens would have had to be eaten raw. Fire is vital in many ways. But by the WLPH \RX VHH GHYDVWDWLRQ E\ À UH \RX ZLOO KDWH it to the core. In the summer of that eventful year, when Raskimono released his record, “SEND DOWN THE RAIN”, he became an instant

people we have been looking for! Where do we begin helping them? We are all Scientists, even those of us to whom the subject of Science is anathema. We are talking of Science as common sense. We also know that Science deals with observations. This is one way of explaining that you do not need to have the same DNA as Albert Einstein (1879-1955) to know that in Nigeria, the rainy season comes once every year. You also do not need any

celebrity. But by the time the rains came, at the play of that record, Raskimono’s rating plummeted. Some even wanted him dead. In times of disaster, we are quick to forget that ZDWHU LV XVHIXO WR KXPDQ H[LVWHQFH DQG WKDW water makes up more than 70% of the human body. Time changes everything. Hard as we may try, we cannot halt the move of Providence. The rains will come when they would. They are here again. This time around, they have come with the greatest intensity ever. No area along the banks of Rivers Niger and Benue is spared. In Nigeria alone, close to a thousand lives have been lost at the last count. Many more are not accounted for. Thousands of homes have been devastated. Every available dry land has become an internally displaced oeoples’ (IDP) camp. Many more are languishing in hospitals. Enormous farmlands have been destroyed. The entire state of Bayelsa is virtually submerged underwater. In Yenagoa, the state capital, even the dead are not spared. Admittedly, because of the stony grounds mixed with water, the graves at the cemetery ZHUH VKDOORZ 7KH Á RRGV KDYH QRZ FRPH WR ZDVK XS WKH FRUSVHV DQG WKH\ DUH Á RDWLQJ everywhere. The consequent disaster from the imminent outbreak of epidemics is looming. The entire surface of Patani in Delta State is totally submerged. There is no dry land. The people of the Community have migrated to the top of the Niger Bridge, which is the only high land around. The scramble for space on the bridge has been such that right now, every single space there has been occupied and there is no more room on the bridge. There are spices of goodness, even in things evil. This new home is safe because the East:HVW +LJKZD\ KDV EHHQ HͿ HFWLYHO\ FXW RͿ E\ Á RRG DW WKH 8JKHOOL HQG WR WKH :HVW DQG DW the Sagbama/Adugbabiri end to the East. No vehicles ply the road now. However, no one is talking about the health hazard to which the people are exposed - the rain beats them and the sun dries them. From the cold breeze that blows across the bridge, there is the threat of an imminent outbreak of epidemic. These are perhaps the forsaken

rocket science to tell you that these rains ZLWK WKH DFFRPSDQ\LQJ Á RRGV DUH KHDY\ HYHU\ \HDU KHDYLHU HYHU\ À YH \HDUV DQG heaviest every 10 years. If we take the immediate 10-year cycle RI \RX ZLOO À QG WKDW WKH UDLQV DQG WKHLU FRQFRPLWDQW Á RRGLQJ HͿ HFWV were heaviest in 2012 and 2022. What came in mid-term, 2017, was not as devastating. What came in the years in between was still less than those of 2017. What we have before us is not an emergency. We always knew the rains would come. An emergency is a sudden occurrence that one did not expect. Why GRQ·W ZH GHDO VXPPDULO\ ZLWK WKH Á RRG once and for all instead of waiting for lamentation when the expected happens? Nigeria has learnt to behave like my nephew of those days. During the few years he was in school, he always came À UVW IURP WKH UHDU LQ WKH SURPRWLRQ examinations. He never admitted to failing. Each time we asked for his result, he would always say, “Em… John failed, Samuel failed, and Peter also failed…” He never said anything about himself. $VN D 1LJHULDQ R΀ FLDO DERXW WKH problem of insecurity in Nigeria, he will reel out all the cases of mass shootings LQ $PHULFD LQ WKH ODVW \HDUV WKH PDVV PXUGHUV LQ $XVWUDOLD LQ WKH ODVW \HDUV and how many people have been killed with the knife in Canada and the UK since the late Queen Elizabeth II was born. 7R WKH 1LJHULDQ R΀ FLDO WKH SUREOHP RI LQÁ DWLRQ DQG XQHPSOR\PHQW LV D ZRUOG SKHQRPHQRQ WKH\ KDYH LQÁ DWLRQ DQG unemployment in the USA, Australia and WKH 8. 7KH SHUHQQLDO Á RRGLQJ LQ 1LJHULD is because the Cameroons opened their dam. What the heck? When it mattered, the Cameroons built GDPV WR GHDO ZLWK WKH SHUHQQLDO Á RRG waters. The dams have been useful to them for irrigation and other purposes. When the dams are full, should they not open the valves to expel excess water? Omorotionmwan writes from Canada

26 4

T H I S D AY

WEDNESDAY OCTOBER 26, 2022

EDITORIAL

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

SUNAK: PRIME MINISTER OF A CHALLENGED KINGDOM Sunak needs to quickly put in place a workable economic policy that can inspire conﬁdence

and the long-standing crisis in the NHS are crying for esterday’s emergence of Rishi Sunak as immediate attention. The former has been quickened the new United Kingdom Prime Minister E\ WKH FRQWLQXLQJ HͿHFWV RI UHVWULFWLRQV RQ 5XVVLDQ JDV is replete with far reaching symbolism and energy supplies as a result of the Ukraine war. DQG JUDYH FKDOOHQJHV 6XQDN LV WKH ÀUVW 2Q WKH SROLWLFDO DUHQD 6XQDN FRPHV WR R΀FH LQ WKH person of colour to assume the post in context of a clear decline in British political culture. the nation. At age 42, he is also one of A great deal of the trouble is the internal decay of the the youngest to step into those lofty shoes in history. Conservative Party itself. It is no tribute to the oldest Of Indian descent but born, raised and educated in party in the world that its control of a crisis torn WKH 8. 6XQDN LV SHUKDSV WKH ÀUVW 3ULPH 0LQLVWHU WKDW parliamentary majority has produced three Prime can be described as a product of the Commonwealth. Ministers in three months. The divisions within its These attributes are unique in British history and ranks can no longer be glossed over. Clearly, the should equip Sunak for an illustrious domestic and Conservative party is divided in rather unhealthy international role. ways. There is therefore With a Prime Minister an urgent need to quickly of colour and the Mayor reunite the party and of London, Sadiq Khan, invariably the nation itself. Clearly, the Conservative party is divided in rather unhealthy ways. himself a man of colour, Failure to achieve this twin we are witnessing an There is therefore an urgent need to reunite the party and invariably goal in record time will lead LQFUHDVLQJ GLYHUVLÀFDWLRQ to an early general election of Britain’s demographics the nation itself in which Sunak may have in more important ways. the unenviable legacy of For one thing, Sunak handing over power to the will hopefully walk the T H I S D AY Labour Party or an opposition coalition. international stage as both a genuine British leader and EDITOR SHAKA MOMODU Internationally, Britain’s leadership role in NATO’s D WUXH FLWL]HQ RI D QHZ GLYHUVLÀHG DQG LQFOXVLYH ZRUOG DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA engagement on the Ukrainian war remains crucial in MANAGING DIRECTOR ENIOLA BELLO Britain can be assured of more friends abroad and a getting Vladimir Putin to act more responsibly. Under DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU more united and harmonious populace at home. But CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI Boris Johnson, Britain’s leadership in that endeavour E\ IDU WKH PRUH FRQVHTXHQWLDO LVVXHV WKDW ZLOO GHÀQH EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN was unmistakable and helped strengthen the resolve Sunak’s tenure are ultimately economic and political MANAGING EDITOR BOLAJI ADEBIYI of President Zelensky in standing up to Russian in the immediate domestic environment. THE OMBUDSMAN KAYODE KOMOLAFE aggression. But this is also tricky considering the On the economic front, the crises of galloping enormity of resources going into the war at a time of LQÁDWLRQ DQG FUXVKLQJ FRVW RI OLYLQJ UHTXLUH DQ dire domestic challenges. urgent solution. Similarly, a more sensible budget T H I S D AY N E W S PA P E R S L I M I T E D In terms of the historic ties between Nigeria and the and tax policy to inspire growth is a matter of grave EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA UK, King Charles has set the stage on the eve of Sunak’s urgency. It is precisely his predecessor’s incompetent GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, inauguration. The king expressed genuine empathy ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI handling of this conundrum that cost her the job and DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ZLWK 1LJHULDQ FRPPXQLWLHV QRZ VXEPHUJHG E\ ÁRRG necessitated the rise of Sunak. He will therefore need ANTHONY OGEDENGBE Nigeria whose doctors and nurses are trooping to help to quickly put in place a workable economic policy DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI the UK’s healthcare system should stand ready to IUDPHZRUN WKDW FDQ LQVSLUH FRQÀGHQFH ZLWKLQ WKH SNR. ASSOCIATE DIRECTOR ERIC OJEH cooperate with the new administration in London for ASSOCIATE DIRECTOR PATRICK EIMIUHI commanding heights of the British economy as well as CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI WKH PXWXDO EHQHÀW RI ERWK QDWLRQV :H ZLVK 6XQDN DOO WKH LQWHUQDWLRQDO ÀQDQFLDO PDUNHWV $ERYH DOO KH QHHGV DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO the best in his new assignment. to give hope of imminent relief to the British general TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com populace. More immediately, relief on energy costs

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

LETTERS

INSECURITY IN NIGERIA’S RURAL COMMUNITIES At Nigeria`s steep descent into the jaws of insecurity has come the mounting concern that it is those who live in ruUDO FRPPXQLWLHV WKDW ZRXOG EH PRVW DͿHFWHG DQG PD\ QRW have a voice strong enough to contribute to the conversation about the security of their country. These include rural farmers and clerics in rural communities. They include many large families who used to know peace and serenity even in the midst of deprivation before terrorism became such an existential issue. As terrorism`s has continued its desperate campaign to obliterate life in rural areas, medical personnel who take care of those most hit by the relentless attacks have not been spared. It was only some months ago that the Director General of the Katsina State Primary Healthcare Development Agency lamented that about 69 primary Healthcare Development centers had been burnt as a result of the activities of terrorists. About two weeks ago, armed men struck at the Abdulsalami Abubakar General Hospital in Gulu, Lapai Local Government Area of Niger State where they kidnapped

a medical doctor as well as a pharmacist after killing two villagers. Lamenting the abductions, the Niger State Chairman of the Nigeria Medical Association, Dr. Yusuf Mohammed, while giving the State Government seven days within which to rescue the abductees or face industrial action, said that the state of insecurity in the state was hampering his members from working in remote locations. Now, it is no longer news that Niger State is one of the VWDWHV PRVW DͿHFWHG E\ LQVHFXULW\ LQ 1LJHULD /DVW \HDU WKH abductions of over a hundred school children in Tegina and held captive for about 89 days sent shockwaves across the country. Earlier this year, dozens of security personnel who went to repel an attack on a mining site in Shiroro were brutally killed by terrorists. However, it is the string of attacks on medical personnel that may yet prove the most disturbing and most troubling. Nigeria`s health sector has long been in avoidable crisis. One factor that has featured heavily in this crisis is the shortage of medical personnel to treat Nigeria`s over 200 million people.

This shortage has been partly blamed on the brain drain which continues to see thousands of trained medical personnel leave the country every year to seek greener pastures elsewhere. The grim picture was recently painted by WKH ÀJXUH ZKLFK SXW WKH VKRUWDJH DW RQH GRFWRU WR patients. It is this crisis that insecurity now seeks to exacerbate. The toll that insecurity has taken on Nigeria since terrorism became such a burning issue cannot properly be quanWLÀHG For many Nigerians, life as they knew it has been altered perhaps forever. With the disintegration of Nigeria`s security architecture has come food insecurity and also a shortage of critical life-saving healthcare. 8QWLO 1LJHULD GRHV VRPHWKLQJ GHÀQLWLYH DERXW WKH PDQ\ criminals combing its countryside and turning rural communities inside out, Nigerians can never know anything closely resembling the good life. Kene Obiezu, keneobiezu@gmail.com

T H I S D AY ˾ WEDNESDAY, OCTOBER 26, 2022

BUSINESSWORLD

NEWS

FSD Africa Announces Arunma SEC Lauds NGX for Driving Sustainability, O t e h a s B o a r d M e m b e r Investor Resilience in Capital Market Nume Ekeghe FSD Africa has announced that the former Director General of the Securities and Exchange Commission (SEC) Nigeria Arunma Oteh, has joined its Board of Directors to support the organisation as it works to strengthen and deepen Africa’s financial markets, particularly in the area of green finance. FSD in a statement noted that

Arunma is passionate about the role of financial markets in catalysing Africa’s success. Commenting on the announcement, FSD Africa Chairperson, Dr. Frannie Léautier, said: “I am thrilled to have such a highly experienced and qualified person join our Board of Directors. Arunma’s detailed knowledge of global economics and the African financial sector will be

invaluable to our organisation as we continue our efforts to improve access to capital and climate financing across the continent. I would like to extend a very warm welcome to Arunma and look forward to working with her.” On her part, Arunma Oteh said: “FSD Africa is doing incredibly important work across the African continent. Ensuring reliable and self-sufficient

financial markets is essential to ensuring sustainable growth and FSD Africa’s programmes and research are at the forefront of addressing this gap. As someone who has worked in this sector my entire career, I understand the immense value of financial markets. I am also delighted to contribute my expertise to guiding FSD Africa in its unique contribution to Africa’s economic development.”

WIA Partners Coca-Cola Foundation to Empower 20,000 African Women Entrepreneurs Esther Oluku The Women In Africa (WIA) Initiative has signed a three-year partnership with The Coca-Cola Foundation to empower 20,000 women entrepreneurs from 10 African countries, through the JAMII Femmes Programme, an initiative of The Coca-Cola Foundation, the Founder WIA Initiative, Mrs Hafsat AbiolaCostello has said. The Programme will focus on supporting women with

innovative solutions for sustainable development over three years through online training, networking, mentorship and local boot camps. In a statement made available to THISDAY, Abiola said: “Our aim is to give African women access to resources and to champions that can set them up for success. “The programme will directly impact 20,000 and

indirectly impact over 60,000 persons thus opening up pathways to their success and is key to Africa’s rise.” Vice President Public Affairs, Communication and Sustainability at Coca-Cola, Patricia Obozuwa, stated that the partnership is a testament to the belief that Coca-Cola Foundation has in African women and the continent at large. “The initiative will boost business creation opportunities

Universal Insurance Announces N3.5bn Premium Ebere Nwoji Universal Insurance Plc has announced gross premium of N3.5 billion against N3.4 billion it made in the previous year. The company’s Chairman stated this at the 52nd Annual General Meeting of the company held in Lagos. He described the company’s performance as a pointer to the resilience of all stakeholders to its corporate existence in seeing that the expectation was exceeded. “Your company’s gross premium written of N3.5billion when compared

with the N3.4billion recorded in the corresponding period of 2020 showed improvement. Our profit for the year 2021 stood at N151 million as against N130.8 million achieved in the previous year of 2020. “Our profit before tax also appreciated from N140.6 million to N162.2 million in the year under review,” he pointed out. The company also showed further resilience by increasing its assets from N11.3billion to N12.3billion in 2021 while shareholders’ funds rose to N10 billion when compared

to N9.8 billion in 2020.” Looking into the future, Ostia said, “ Our quest is to become one of the top players in the financial service sector of this economy. Our emergence as a one-stop shop for the array of services we now offer through our retail outfits is in line with this quest.“ He assured that despite the difficult business environment the company is ready and equipped with a dedicated board, management, and staff that are willing and ready to ensure that the fortunes of the company do not dwindle.

IMF: TRANSPARENCY CRUCIAL FOR NIGERIA TO MAXIMISE BENEFITS FROM OIL, GAS Finance Act gives the Minister of Finance powers to supervise and control the expenditure and finances of the federation and all matters related to the financial affairs of the federation that are not by law assigned to any other Minister. However, the Ministry’s fiscal oversight function over NNPC should be strengthened.” It further stated: “The Nigerian authorities must accelerate their anticorruption efforts to maintain momentum against both entrenched

challenges and evolving threats. The high-level commitment of the government and the devotion of many public servants working in the SOE sector, as well as in the country’s institutions dedicated to countering corruption and combating money laundering and the financing of terrorism are the foundation for reform. To make a durable dent in the incentive structures that underpin corruption in Nigeria, however, the government will need to accelerate

and intensify its reforms in this area as stated in its ERGP. “The Nigerian authorities’ efforts to enhance transparency in the oil sector should include full disclosure of NNPC’s JV arrangements and establishing clear institutional responsibilities for revenue assessment, collection, and reporting. Achieving critical improvements to governance will require a combination of legislative action, institutional reform, and additional resources.”

FOREIGN, DOMESTIC INVESTORS’ STAKE IN STOCK MARKET DOWN 33.94% ON GLOBAL ECONOMIC HEADWINDS Supra Commercial Trust Limited, Mr. Charles Fakrogha said the drop in domestic and foreign portfolio exposure in the stock market for the month of September was a reflection of macroeconomy challenges. According to him, “The hike in MPR by CBN to 15.5 per cent, double digit inflation rate, security challenges, among others discouraged investors to invest in the stock market.” The Managing Director/Chief Business Officer, Optimus by Afrivest, Mr. Ayodeji Ebo had attributed that decline in foreign and domestic investors to persistent rise in fixed income yield due to the hike in MPR by regulatory authority. Analyst at PAC Holdings, Mr. Wole Adeyeye said, “Some investors migrated from stock market to fixed-income market in a move to take advantage of high yields, which was triggered by the recent hike in the policy rate. Also, foreign investors avoided Nigerian stock market due to the upcoming general

elections, weak local currency and insecurity in the country.” On his part, the Vice president, Highcap Securities Limited, Mr, David Adonri said the stock market commenced declining performance when the Monetary Policy Committee (MPC) of CBN increase the interest rate. He noted that other macro economy indicators such as inflation rate, and scarcity of foreign exchange have also diminished demand for stocks as investors moved to fixed-income markets. According to him, “The fundamentals of foreign and domestic macro economy indicators have impacted negatively on the domestic and foreign investors’ portfolio in the stock market.” A further analysis of the report disclosed that total transactions executed between the September and August 2022 revealed that total domestic transactions decreased significantly by 35.01 per cent from N95.76 billion in August to N62.23

billion in September 2022. “Similarly, total foreign transactions decreased by 30.27per cent from N28.21billion (about $65.77 million) to N19.67 billion (about $44.93 million) between August 2022 and September 2022,” the report disclosed. The report added that, “over a 15-year period, domestic transactions decreased by 58.80 per cent from N3.556 trillion in 2007 to N1.465 trillion in 2021 whilst foreign transactions also decreased by 29.38 per cent from N616billion to N435billion over the same period. “Total domestic transactions accounted for about 77 per cent of the total transactions carried out in 2021, whilst foreign transactions accounted for about 23 per cent of the total transactions in the same period. The transaction data for 2022 shows that total domestic transactions are circa N1.648 trillion, whilst total foreign transactions are circa N321.04billion.”

by improving access to vocational training, networks, finance and markets. For this first year, the Coca-Cola Foundation and Women In Africa are offering a multiphase programme to 7,000 women from three countries; Ivory Coast, Kenya and Nigeria. “The first phase is a 4-month digital training phase, conducted by WIA’s partner, Honoris United Universities, Africa’s first and largest network of private higher education institutions, which will enable them to develop skills. “More than 600 entrepreneurs will receive grants to support their business development and increase their impact in communities. In January 2023, 70 selected beneficiaries will benefit from a 2-week accelerator programme,“ she said.

The Securities and Exchange Commission (SEC) has commended NGX and NGX RegCo for their efforts towards fostering sustainability and investor resilience in the Nigerian capital market. Speaking at the Closing Gong ceremony held in commemoration of the International Organisation of Securities Commissions’ (IOSCO) World Investor Week organized by NGX in conjunction with the Securities and Exchange Commission (SEC) and NGX Regulation Limited, the DirectorGeneral of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, represented by the Executive Commissioner, Operations, SEC, Mr Dayo Obisan, said the World Investor Week was

a crucial part of the SEC’s 10-year Capital Market Masterplan. “Financial literacy and investor protection are central to the main objectives of the commission in driving the development of the market,” he stated. Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka said that the key message for the year “investor resilience and sustainable finance” was apt as investors weathered various challenges globally. Chiemeka stated that financial literacy and inclusion were top priorities for stakeholders and NGX prioritised these topics as part of its quota to achieving key targets of the National Financial Inclusion Strategy.

UU Coast Guard Commends Nigeria, Monitoring Development in GoG The United States Coast Guard, USCG, through Captain Brian Lisko of the US Department of State has commended the efforts of the Nigerian Government to suppress criminality in Nigeria’s maritime domain and by extension the Gulf of Guinea. Brian Lisko who stated this while on a fact finding visit to the Management of the Nigerian Maritime Administration and Safety Agency, NIMASA, also commended the Agency for the role it played in achieving a robust regional collaboration to enhance safety in the Gulf of Guinea. He said the US Coast Guard desires improved collaboration with NIMASA and relevant Agencies in maintaining the momentum of recent success that

has resulted in recording one year of piracy free Nigerian waters. “We must commend the leading role which NIMASA has played in reducing piracy in the region through the deployment of its Deep Blue Project as well as its partnership with other maritime nations. The international community has taken note of this and we wish to encourage you to keep it up. We propose that a US Coast Guard maritime adviser be deployed toLagos with the consent of relevant authorities, with that person reporting back to the Coast Guard and advising on deployment of technical experts and tools to assist NIMASA’s efforts”.

BUSINESSWORLD

T H I S D AY ˾ WEDNESDAY, OCTOBER 26, 2022

ECONOMY

Economic ReadinessVital in Cushioning Against Effects of Future Pandemics Oluchi Chibuzor

n the wake of 2020, what started as a local health concern quickly erupted into a global pandemic which affected the health and economy of developed and developing countries alike. While the healthcare system faced huge pressure, the deepening effect of COVID-19 plunged many countries into activating unprepared economic measures – the shutdown of economic activities. Although procedures were put in place to arrest further health crises, the impact pulled an unprecedented strain on economies with developing countries across the globe getting the worse hit. The global economy shrank by 4.4% in 2020, according to International Monetary Fund (IMF) estimates. Most nations around the world entered recessions having experienced negative GDP growth. Although the recorded death toll from the pandemic defied prediction in Nigeria, the economic strain was put on the already palpating economy with a visible impact on sectors like oil and gas, agriculture, transportation, etc. The International Food Policy Research Institute reported that in cause of the lockdown measures necessitated by the pandemic, Nigeria’s GDP plunge to 34.1 per cent which translates to USD 16 billion with two-thirds of this loss coming in from the services sector. The agriculture sector, which serves as the primary means of livelihood for most Nigerians, suffered a 13.1 per cent loss. Estimated households lost an average of 33 per cent of their income with the heaviest losses occurring for rural non-farm and urban households. The economic impacts of COVID-19 included a 14-percentage point increase in the poverty headcount rate for Nigeria, which implied that 27 million additional people fell below the poverty line during the lockdown. As with the economy, many businesses were badly hit. In a detailed assessment of the pandemic’s impact on businesses and business owners, a collaborative report from the United Nations Development Program and the National Bureau of Statistics, (UNDP/NBS report) showed disruption across enterprises with the closure of at least two-thirds of businesses operating in the country. Many organizations were unable to withstand the shock of the pandemic and as many as one in three businesses permanently closed due to operational challenges brought about by COVID-19. Although the Nigerian government set out palliative measures to ease the pandemic’s

effect on households, only a few received with little, or no measures put in place to support businesses. While the country is curating new ways to gradually ease into new norms in the advent of the pandemic, economic recovery is still a struggle. With inflation rates hitting double digits, there is negative investor sentiment largely due to economic uncertainties. This has caused hampered investments resulting in turbulent capital markets not just in Nigeria but around the world. Several lessons can be drawn from the impact of COVID-19 to serve as a guide in developing measures and regulations that will cushion the effect of a possible pandemic. Whilst global synergy is key, the World Bank has advised that pandemic preparedness should begin at the country level. It requires a strong and resilient health system, particularly, at the primary healthcare level. This will support in facilitating the detection of disease outbreaks, provide essential care, and strengthen the deployment of vaccines and other medical countermeasures. A local Public Health professional, Dr Ifeanyi Nsofor, recently called for federal, state, and local government funding and the involvement of private sector organizations to support preparedness during a stakeholder forum. And as the health sector begins to firm up strategies to stay prepared for possible future pandemics, the Nigerian government must also be equipped, economically. Economic recovery and preparedness are still possible and imminent if Nigeria diversifies its economy from being “oil-based” to revitalizing other sectors to achieve sustainable economic development and growth across the board. As an important step in stimulating the economy, policies should be intentionally implemented rather than simply formulated. If the right structures are put in place, the right actions will be taken. In addition, tax authorities at different levels of government must take steps within its policy framework to increase tax revenues and implement tax reforms. This would improve compliance, discourage evasion, and widen the country’s tax base. It will also provide the required capital to rehabilitate and invest in other sectors of the economy which will bring the needed diversification to life. Finally, as the world is becoming a more global village, it is vital for Nigeria to learn its lessons from the impact of the COVID-19 pandemic while taking a cue from what other countries are doing. This will serve as a useful tool in assisting economic growth and development and set in measures to cushion the effect if there be a future pandemic.

WEDNESDAY OCTOBER 26, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 26, 2022

EDUCATION AFF: Promoting Gender Equality for Good Governance The Akin Fadeyi Foundation, in partnership with the Mac Author Foundation, is prioritising gender, equality and social inclusion to enhance good governance and participation outcomes among girls and women in the country. Funmi Ogundare reports

he Akin Fadeyi Foundation recently commemorated the International Day of the Girl Child 2022 with a ‘What Women Can Do’ virtual competition aimed at showcasing the ability of women to proffer solutions to governance issues as a bolster to the quest for more gender-inclusive governance in Nigeria. The competition, keenly contested by 15 female finalists drawn from the geo-political zones across the country, saw them pitching their ideas to judges who are also partners in the cause of sustainable development. They were selected from the 50 entries received by the foundation. At the end of the debate, a female law student of Babcock University, Bukunmi Abraham, emerged as the overall winner. Miss Oreoluwa Aladejuyigbe and Mariam Dauda Longe emerged second and third, respectively. Nnenne Chimdalu came fourth, while Rafat Salawudeen and Rachael Aina Oloye came in fifth and sixth positions, respectively. Abraham received an iPhone 13 pro or its cash equivalent for her efforts. Aladejuyigbe won a shopping voucher of N500,000 or its cash equivalent, while Longe got a shopping voucher of N300,000 or its cash equivalent. Chimadalu, Oloye and Salawudeen went home with a cash prize of N150,000, N100,000 and N100,000, respectively. The five-person panel of judges comprised the Country Director of Accountability Lab, Mr Odeh Friday, Adeola Fayehun, a journalist and socio-political satirist; Mrs Ramatu UmarBako, equality and diversity champion; and the Executive Director of Enough is Enough, Ms Yemi Adamolekun. In his remarks, the Executive Director of the foundation, Mr Akin Fadeyi, expressed delight about the competition, saying that since 2016 its inception, good and gender-inclusive governance has been one of its core focus areas. The competition is an offshoot of its earlier advocacy and intervention campaigns tagged, ‘Put on Your Thinking Cap’, ‘Gender Inclusive Governance’ media parley and various citizen

Akin Fadeyi interactive engagements for good governance. “This campaign became imperative following the statistics that women make up 47 per cent of the electorates that put men in office, yet the representation of women in elected offices has been on the decline. Therefore, Akin Fadeyi Foundation chose to create this platform to raise public consciousness about this imbalance and to introduce new voices in the narrative for more gender-inclusive governance,” he stated. Special guest at the programme and Co-Director of the MacArthur Foundation, grantors of the Akin Fadeyi Foundation, Mr Kole Shettima said, “At the MacArthur Foundation, we have always upheld diversity, equity, and inclusion as an affirmation of our values. Hence, we have always, therefore, been attentive to gender equality and equity in our engagements, recruitment and other

spheres of our work. Shettima added, “We prioritise diversity, equity, and inclusion and have always been enthusiastic to ensure Gender Equality and Social Inclusion (GESI) enhances our anti-corruption, accountability, transparency, and participation outcomes.” Shettima noted that the foundation was trying to stimulate the energy of Nigerian women to envision a corrupt-free society as part of a strategic design template for governance. “Having women lend their voices to what they will do against corruption if they have a shot at power, is also very appropriate because corruption is the reason misappropriated funds leaves women vulnerable to the deficits occasioned by lack of the infrastructure or amenities that guarantee relative comfort for women more than men.” He, however, expressed concerns about the drawbacks in the patriarchal-dominated political/governance environment, especially in Nigeria, saying that this is why the platform for women and girls is germane as we continue to raise the bar in gender inclusive or gender parity narratives. “While the prizes at stake incentivise voice action, the contestants present today should begin to embrace the bigger picture, which is how this exercise by one of our grantees, the Akin Fadeyi Foundation opens such vista for them to play a part in mainstreaming gender as a crucial theme in our nation’s policy formulation.” The Head of Programmes at Akin Fadeyi Foundation, Mrs Oluwatomi Okeowo, promised that the foundation has taken up the baton to push for good governance, and this can only be attainable when there is fairness in the level of gender representation in Nigeria’s governance structure. She, however, promised that until this cause is won, the foundation would continue to champion efforts like this. Abraham thanked the Akin Fadeyi Foundation for the platform she was given for the amplification of her voice in the cause for gender-inclusive governance. She promised not to relent until the seemingly impossible

task of having more women in governance is achieved. She also thanked her fellow contenders and enjoined them to keep the conversations alive in their respective spaces. “I am an apt believer that the growth of Nigeria has been stifled by awful governance, and we are yet to scratch the surface of our potential as a country. People often underestimate the effects of bad leadership, so it is important that as we look for solutions, we consider that the leadership we seek as a nation is not limited by tribe, ethnicity and, most important, gender,” she explained. “The opportunities that allude women in Nigeria, particularly when it comes to leadership, is as a result of our lack of understanding as a people that a good leader lies in the quality of a person and not in their skirt or trouser.” Abraham added, “The ability of a person to inspire and advocate for change whilst proffering excellent solutions to support that change is what makes an excellent leader, and this view must be adopted by all Nigerians for us to reap the benefits of our land flowing with milk and honey.” In her remarks, Miss Oreoluwa Aladejuyigbe said, “I’m optimistic that we can build a corrupt free gender inclusive relationship if we continue to educate the public about imbibing the right anti-corruption practices, maintain ethical standards in our public offices and strengthen our laws to discipline corrupt persons.” The Senior Programme Officer, MacArthur Foundation, Dr Amina Salihu, expressed excitement that the ‘What Women Can Do’ finals coincided with the 2022 International Day of the Girl. She decried how the girl child had had to deal with the dynamics of politics of segregation right from birth and how this has negatively impacted her mentally and psychologically. She described the AFF finalists as amazons who have brought a spirit of positive competition to the table, especially as women have always been doing a lot but struggle with opportunities to demonstrate their importance and show their mettle.

Plateau Teacher, Ayiwulu, Emerges 2022 Maltina Teacher of the Year Uchechukwu Nnaike

A Basic Science and Physics teacher at Federal Government College, Jos, Plateau State, has emerged as the 2022 Maltina Teacher of the Year. He was announced at the grand finale held in Lagos weekend. Ayiwulu will receive a total cash prize of N6.5 million (N1.5 million immediately and N1 million annually for the next five years) from the Nigerian Breweries- Felix Ohiwerei Trust Fund. Other incentives include an all-expense paid capacity development training abroad, a fully equipped computer laboratory or a six-classroom block worth N20 million to be built for his school. He received his prize from Vice President Yemi Osinbajo, the special guest of honour at the awards ceremony, attended by dignitaries across the public and private sectors. Ayiwulu, who could not conceal his excitement, thanked Nigerian Breweries Plc for its commitment to the teaching profession, as demonstrated through the support given to the initiative every year. Musa Saidu, a teacher from El-kanemi College of Islamic Theology, Maiduguri, emerged as the first runner-up. He got N1.5 million; Ifeoma Ifediba, a teacher with Federal Government College, Enugu, emerged was the second runner-up, receiving N1.2 million. Thirty other teachers who emerged as state champions received N500,000 each. In his remarks, Osinbajo, who shared several personal stories about his journey into the teaching profession, commended Nigerian Breweries for recognizing and celebrating teachers. He said the achievements recorded by previous award recipients have shown the significance and impact of the competition.

L-R: Corporate Affairs Director, Nigerian Breweries Plc, Mrs. Sade Morgan: Commissioner for Education, Lagos State, Mrs. Folashade Adefisayo: Managing Director, NB Plc, Mr. Hans Essaadi; winner, 2022 Maltina Teacher of the Year, Mr. Alaku Ayiwulu; Vice-President, Prof. Yemi Osinbajo; Chairman, NB Plc, Chief Kolawole Jamodu; and Minister of State for Education, Mr. Goodluck Nanah Opiah, during the presentation of the N6.5 m grand prize to the winner at the grand finale event, in Lagos... recently “The teacher must be appreciated. Everyone needs affirmation and encouragement, as it can only lead to greater achievements,” said Osinbajo. “And this is why I think that the Maltina Teacher of the Year Award is an incredible boost for teachers and the teaching profession.” The vice president also expressed delight to be part of this year’s event, celebrating and rewarding teachers who have continued to distinguish themselves as role models in academic institutions and agents of social change in

communities across the country. The event also witnessed a special recognition award presented to Elder Felix Ohiwerei, a former MD/CEO of Nigerian Breweries Plc, by the vice-president. The award was in recognition of his outstanding contributions to the company and support for the education trust fund, which is in his honour. The Minister of State for Education, Goodluck Nanah Opiah, said the award marks a significant milestone in the collective effort to revamp the education sector to serve Nigerians’ critical needs and aspirations better. “Education is our collective responsibility, and its failure can well be taken as the failure of the entire country. It is based on this that

the Federal Ministry of Education recognizes and commends the efforts of Nigerian Breweries – Felix Ohiwerei Education Trust Fund to celebrate outstanding teachers across Nigeria,” added Opiah. “The ministry appreciates the cash prizes to the teachers, the capacity-building opportunities and provision of educational resources and infrastructure to schools. These attractive packages will in no small measure motivate and inspire more teachers across the nation to work towards being outstanding.” The Chairman of the NB Plc, Chief Kolawole Jamodu, described the vice president’s presence as an incredible motivation to all teachers, including those who aspire to make a difference in the field of learning. He highlighted the 85 projects the trust fund had invested in across the country since it was founded in 1994. “We have invested in constructing learning facilities in communities, awarded scholarships to doctorate students, created an endowment at the University of Ibadan College Medicine and funded the building of the Felix Ohiwerei School of Science and Technology at the PanAtlantic University Lagos,” stated Jamodu. “With these investments, we aim to provide a strong platform that supports our schools, students and teachers towards advancing the quality of education at all levels in Nigeria.” The Corporate Affairs Director of Nigerian Breweries Plc, Sade Morgan, revealed that this year’s edition of the competition recorded 1,027 entries from all 36 states, of which 833 were valid. Morgan commended the panel of judges for their transparency, professionalism and the tenacity with which they undertook their assignment in determining the winners noting that their painstaking efforts were instrumental to the competition’s success.

T H I S D AY ˾ WEDNESDAY OCTOBER 26, 2022

EDUCATION

Corona Schools’ Group Identifies Greatest Challenge to Trust Council Awards Girl-child Education Scholarships to 20 Pupils Kuni Tyessi in Abuja Onibon, who stated this as lack basic knowledge on adding that learning will help part of activities commemorat- how to behave and comport them to keep themselves and Corona Schools’ Trust Council has enrolled 20 pupils into Adeife-Sodipo Akindeko Memorial Primary school Lagos under its Corona-out-of-school children project. According to Corona Schools’ Trust Council, the project is part of its commitment and resolve to reduce the number of outof-school children in Lagos. It also aligns with its mission of developing world-class schools in curriculum, teaching methodologies and management. In her remark at the event, the Chief Executive Officer of Corona Schools’ Trust Council, Mrs Adeyoyin Adesina, said under the project, the Trust Council will fully fund the pupils from primary to secondary school and even beyond those who desire to continue. “We hope that with the support and cooperation of the community, we will be able to add more pupils to these numbers in the future,” Adesina said. She said statistics revealed that increasingly, Nigeria appears to be one of the countries with the highest number of out-of-school children globally, adding that the project aims to support the government’s efforts to address the issue in education. “We are happy that our

programmes and projects in the education space further support what the Lagos State Strategic Development Agenda set to achieve. We are hoping that with the support of the government and other corporate organisations, we will be able to take this initiative to other underserved communities, local government areas and do the same thing,” she said. According to the CEO, the scope of the intervention includes educational supplies, school uniforms, kits, bags, books, and supports school lunches. Adesina thanked the parents of the pupils from Ago Egun, an underserved area in Somolu, Bariga local government area, for reposing their confidence in her team by allowing their children to be the first beneficiaries of this educational support initiative. She said the council desired that other community members join the pioneering set of pupils in reducing the number of outof-school children in the state. The Education Secretary of Somolu Local Government Education Authority, Onakoya Dare Martins, commended the council for the project and expressed delight that the private sector is collaborating with the government to address the issue of out-of-school children.

UK Foundation to Provide Education for 1,000 Out-ofSchool Children Mary Nnah

A UK-registered non-profit organisation, Ibironke Adeagbo Foundation (IA-Foundation), has staged a charity walk and education awareness campaign to express its displeasure about the increasing rate of out-ofschool children in Nigeria. Its Chief Executive Officer and founder, Mrs Ibironke Adeagbo, decried the 20.2 million out-of-school children in Nigeria, describing the situation as embarrassing, grossly unacceptable and a serious economic and security threat to the nation. According to her, the nation’s insecurity and economic hardship largely result from a lack of proper education. “When people are not educated, they are more likely to end up in poverty because they may lack the skills, competencies, and certifications to earn them a good job,” she noted. “So, they are economically inactive, and when poverty increases, they resort to crimes and all sort of illegal activities.” Addressing journalists during the campaign, Adeagbo reiterated the foundation’s commitment to take 1,000 children off the streets and enrol them into topnotch schools across the nation in five years while calling on the government and other NGOs to work collaboratively to drastically reduce the number. “We currently have over 100 children on our bursary scheme in Lagos, Oyo, Delta, Ogun, Kwara, Abuja and Osun, where we pay for their school fees, buy

their textbooks, uniforms and other extra-curricular activities,” added Adeagbo. “Next year, we want to take at least 200 children off the street, and if you know any out-of-school children, let them get in touch with IA-Foundation we are ready to sponsor their education up to the secondary level.” Adeagbo also charged the next president come 2023 to prioritise education and increase the budgetary allocation with a political will to reduce the numbers. “Investment in the educational system is the greatest investment any serious government can make. No nation can rise above the quality of its education system,” she stressed. “It is the most powerful tool that we can use to fight corruption, insecurity, and economic challenges.” The Programmes and Partnerships Manager of IA-Foundation, Mr John Klutse, called on the government to wake up to the challenge and fix the education system. “It is uncalled for that students have to stay at home for eight months. The amount Nigerians spend on foreign education can make a lot of difference in our economy if such huge funds remain in the Nigerian economy,” Klutse explained. “As a Foundation, we will continue to raise awareness and organise campaigns such as this to sensitize people about the value of education and also encourage well-meaning individuals to support the vision to leave no child behind.”

A non-governmental organisation, 100 Women Lobby Group, has noted that Nigeria’s poor implementation of the laws and policies is hampering girl-child education. National coordinator of the group, as well as President of Change Managers International Network, Mrs Felicia

ing the International Day of the Girlchild, said ordinarily, parents who do not allow their children to get basic education should be arrested. Speaking to selected girls of the Government Day Secondary Schools, Area 11 in Abuja, Onibon said most girls are not exposed and

themselves in situations of menstrual hygiene and the overall body networks of a female. She encouraged the students to be friends with their teachers, not only in school activities and classwork but also in psychosocial support for their entire well-being,

conduct themselves properly. “It is illegal to dissuade a child from going to school. It is expected that parents who do not allow their children to go to school should be arrested,” stated Onibon. “The laws are there. We have them, but the problem is implementation.”

L-R: Mrs. Bose Adejayan, Headmistress of Adeife Sodipo-Akindeko Memorial Primary School; Mrs. Matilukuro, Mrs. Adeyoyin Adesina, Chief Executive Oﬃcer, Corona Schools’ Trust Council and Dare Martins Onakoya, Education Secretary, Somolu LGEA, with the awardees

Greensprings Supports Public School with Classrooms Uchechukwu Nnaike

Greensprings School, Lekki Campus, has built a block of three classrooms at Roman Catholic Mission (RCM) Primary School, Awoyaya. The building was the initiative of Greensprings students’ Community Development Committee (CDC), which raises funds internally to support public schools in the neighbourhood. Speaking at the inauguration ceremony recently, the Executive Director of Greensprings School, Mrs Lai Koiki, said the move was in line with the school’s motto, ‘In love serve one another’.

She said the school believes in involving its students in reaching out to public schools, adding that the students need to know the importance of giving back to society and that the funds for the building and furniture were the proceeds from the ‘mufti day’ held once every term, with additional funds from the management. “What is important is the love behind it, and how it will improve the lives of the children,” Koiki said. According to the head of Greensprings (Lekki Campus), Mrs Feyisara Ojugo, as part of its core values, the school encourages people to give back

to society. She urged all adults to do their best to make the country a place where children can grow up to be the best they possibly can be. The Chairman of the State Universal Basic Education Board (SUBEB), Hon Wahab AlawiyeKing, commended Greensprings School for demonstrating the need for collaboration in enhancing the basic education sector across the country in line with the Sustainable Development Goal 17. Representatives of Greensprings School’s CDC, Ibukunoluwa Akinola and Toluwalase Falade, said com-

mittee members had different initiatives to raise funds to help people. They said the committee considered the needs of the benefiting school and decided on the project within its resources, which will provide a new learning environment for the children. The head teacher of RCM, Mrs Ruth Oni, said the classrooms would provide a conducive environment for teaching and learning. Before the intervention, she said the school had eight classrooms for over 600 pupils. She said the classes were congested, with over 100 pupils in the upper primary classes.

ULDA Partners APWEN to Train Female Engineers Funmi Ogundare

Universal Learn Direct Academia (ULDA) is partnering the Association of Professional Women Engineers of Nigeria (APWEN) to train 10 female engineers from the 20 beneficiaries of the Margaret Aina Oguntala Capacity Development Academy (MAOCADA), designed to enhance their professional skills and improve their proficiency in the built industry. The initiative was instituted by APWEN in honour of the

first female Deputy President of the Nigerian Society of Engineers (NSE), Mrs. Margaret Oguntala As part of the training which will kick-off on October 31, the beneficiaries would be trained for six months on site supervision and management courses, at its Vocational Training Centre (VTC), Oshodi, where they will earn level three certification by being tutored on how to deliver construction projects from start to completion and going through different modules.

In a statement, the Dean of Faculty, Babatunde Faleye, expressed concern about the percentage of women in engineering, saying that ULDA would support a well-meaning development to change the demography. “ULDA now has pledged a 50 per cent discount off the fees sponsorship for the selected candidates.” Faleye expressed hope that the trainees would understand the rudiments of works and gain requisite experience

and exposure in the major trades of construction, where they would be trained to use ULDA’s checklist approach at inspecting site activities carried out by technicians to attain utmost competence levels in construction activities. “They would understudy skill sets in masonry (bricklaying) and tiling, domestic electrical and solar installation, construction steel works and welding, domestic pipe fitting, plumbing and fire installations,construction carpentry and cabinet making.

Rotary Empowers Female Students in Rivers Public Schools Blessing Ibunge in Port Harcourt Female students from Community Secondary School Nkpolu- Oroworukwo, Community Secondary School Abuloma and Methodist Girls High School, Harbour Road, have benefited from the free empowerment and knowledge-based programme

organised by Rotary International. The Rotary Club of Port Harcourt-South, in partnership with the Rotary Club of Port Harcourt Nkpolu Rivers State University, Rotaract clubs (PH-Township, Silver Valley & RSU) held the empowerment programme in commemoration of the International Day of the

Girl-Child. Speaking to THISDAY on the programme, Ele Edachaba, Assistant Governor of Zone 25, said the programme was to empower women. Edachabe, represented Mightyman Aye Dikuro, District Governor (DG) Rotary International District 9141, said,

“As rotarians, we realised the need to invest in girls, and we must continue to support the development of the girl child’.“ Similarly, the 40th President Rotary Club Of Port Harcourt South, Bara Alagoma, noted that the purpose of the project was to elevate the girl child empowerment.

T H I S D AY ˾ Ͱʹ˜ ͰͮͰͰ

CITYSTRINGS

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Grooming Proﬁcient Weapon Marksmen in the Air Force To enhance professionalism, groom proficient marksmen and reduce accidents from weapon handling, Chiemelie Ezeobi writes that the Logistics Command of the Nigerian Airforce recently held its annual Small Arms Range Classification exercise

Air Oﬃcer Commanding, Logistics Command, Air Vice Marshal, (AVM) Emmanuel Shobande and other personnel at the shooting range

s part of efforts to enhance proficiency in marksmanship, the Nigerian Airforce (NAF) recently held an exercise to master shooting and Small Arms Range Classification for 3037 airmen and airwomen. During the training, personnel fired shots from five meters, 10 meters and 15 meters using pistols while long range shots were also practiced from 200meters to test their marksmanship in one of the oldest programmes in the military. Marksmanship Proﬁciency Speaking at the 2022 HQ Logistics Command Small Arms Range Classification Exercise at the 81 Division Shooting Range, Owode, in Ogun State, the Air Officer Commanding, Logistics Command, Air Vice Marshal, (AVM) Emmanuel Shobande stated that the exercise was to help officers perfect their shooting skills. He said: "Marksmanship is an important skill for every military personnel. History teaches us two deep and important lessons about marksmanship, the first is that it is an acquired skill only developed through practice and training." Combat Readiness

He posited that mastering the use of weapons also instill in officers the confidence for combat readiness and such high level of readiness is needed at all times as NAF conducts single and joint operations to battle insurgency and other pockets of insecurity in the country. He said: "The second is that the battlefield is an unforgiving environment; thus proficiency in weapon handling cannot be discountenanced as one of the essential qualities for survival in real combat. "For this reason, all NAF personnel undergo rigorous and frequent training to help them become proficient marksmen. "The officers will be afforded deliberate shooting opportunities to prove their skills. This is because of the varieties of firing positions and weapon types which each participant will be exercised. "Additionally, the planned inter-unit shooting competition to end the exercise will further

project professionalism and efficiency in line with global best practices in small arms classification." Noting that the expected training outcome of the exercise is that the lessons learnt would be rewarding in the field, the AVM had encouraged every participant to take advantage of the unique opportunity to enhance their weapon handling proficiency and knowledge. He had equally advised instructors not to compromise any aspect of the training requirements in order not to erode objectives of the exercise with attendant negative consequences on NAF operational efficiency. AVM Shobande appreciated the Chief of the Air Staff, Air Marshal Isiaka Oladayo Amao, for his visionary leadership and approval for the exercise which is in tandem with purposeful training and human capacity development in support of NAF operations. Range Classiﬁcation The exercise as the name implies put personnel to test at the shooting range in terms of accuracy of shots and efficiency in handling weapons. Therefore, to ensure that the Nigerian Air Force personnel, especially those drafted to battle insurgency and other pockets of

insecurity, are combat ready, the need to constantly train and retrain them especially in weapon handling for improved shooting skills and professional efficiency in line with global best practices, came with the recent range classification exercise. Also, the exercise is aimed at developing personnel intuitive skills and response initiative under battle-like conditions. Undoubtedly, such firing exercises are designed to ensure a combat- ready force, better positioned to tackle contemporary challenges and as such, the aim of the exercise is usually to test the proficiency of officers and men in the command. Also, the operation is deemed as a form of fitness exercise, which in turn leads to physically fit officers and men. The firing exercise is also important and strategic to air power operations so that whenever they are deployed for operations, they will not see the weapons they are carrying as a visitor. It is noteworthy to state that it also exerts discipline on the men because once a weapon is handed over to you, it takes discipline to control your anger and not respond wrongly. The end goal however is that the lesson learnt from the exercise would be a rewarding one in the field.

NDLEA Partners Group in Movie Series against Drug, Substance Abuse Esther Oluku

he National Drug Law Enforcement Agency (NDLEA) has partnered the Campaign Against Drug and Substance Abuse (CADSA) in a movie series aimed at enlightening the public on the harmful effects of drug and substance abuse. While fielding questions from journalists during CADSA's media launch recently, Convener, CADSA Nigeria, Mr. Valentine Ugochukwu stated that the vision to initiate the movie series is part of its campaign geared towards having a drug free society. The first arm of the campaign agenda, he said, is to engage the youth population in secondary

and tertiary institutions in all the geopolitical zones in the country one zone at a time and is billed to begin in December 2022. Ugochukwu, who has been in the entertainment industry for over twenty-five years, stated that the entertainment industry has the power to redirect the mindset and behavioural patterns of young people as many look up to entertainers as role models and heroes. "Entertainment is something you cannot do without, and the truth is that in the industry, we've been reeling out over a long time more

of the negative aspect of what creativity can do. "It is a force that if properly channelled would create positive changes but funny enough most of our visible colleagues are culprits. I know that if we can chart this cause from within the entertainment industry, it would be a lot faster in taking this message to the youth and then getting the youth off drug because entertainers are like icons. "Young people want to be like entertainers and once we begin to get all hands on deck across board, I think the awareness to get people off drugs would spread faster," he said. Adding to the discussion, the Chief Executive Officer, AFOREVO tv, Mr. Afam Anawana, who also doubles as media partner to CADSA Nigeria

on the television series, stated that the movie series is still in the writing stage and would ensure to capture the ills in society in a bid to correct them. "We are totally in support of this and would do our best to make sure that all the issues regarding these malaise in the society are well highlighted when the series get launched. We would make sure that the effects on the addicts, their families, and the indirect ills that it brings into the society are well highlighted and that people can see a pathway to deliverance," he concluded. According to Ugochukwu, the sensitisation exercise to schools across the federation would enlist some celebrities that are drug clean and provide employment opportunities for youth to prevent them from subsequent relapse.

WEDNESDAY OCTOBER 26, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, OCTOBER 26, 2022

BUSINESS/MONEYGUIDE

Ogunbiyi: Insurance Commissioner Working Hard to Restore Industry’s Glory Ebere Nwoji The Chairman of Mutual Benefits Assurance Plc, Dr Akin Ogunbiyi, has lauded the Commissioner for Insurance, Mr Thomas Sunday, for his commitment to ensure the restoration of the insurance industry’s glory. Ogunbiyi, who expressed this during an interaction with journalists, said, “The current Commissioner for Insurance, Mr Thomas Sunday, is trying to galvanise the industry to assume its expected position as the leader of the financial sector and the driver of the Nigerian economy.” According to him, the commissioner is a thoroughbred professional who is passionate about turning around the fortune of the industry for the good of the practitioners, the insuring public and the nation at large. Ogunbiyi said, “The Commissioner has brought

intellectual energy and flavor into the industry. For the first time in the history of the Nigerian insurance industry, we are having a thoroughbred practitioner as the Commissioner for Insurance. This is someone who had worked in many insurance companies, including NICON, before becoming the Director-General of the Nigerian Insurers Association (NIA). Later he was appointed the Deputy Commissioner for Insurance (Technical), where he served for many years before becoming the Commissioner. So, he understands the industry and is determined to make it work for the benefit of the whole country.” The insurance commissioner, he added, wants to return the industry to the era when it played pivotal role in the economy, adding that he would require the support of all practitioners to achieve this. He said, “There was a time when the insurance industry

led the financial sector of the Nigerian economy. At a time in this country, insurance companies were the prime investors in banks. When the Federal Capital Territory (FCT) was being built, insurance companies made solid investments in critical areas, such as hotels, to ensure the development of the FCT. Over the years, the insurance industry has made huge contributions to the economic development of the country. But overtime that has changed. The Commissioner wants to take the industry back to its glorious era. That is why he has been working on strengthening regulation and encouraging creativity in the industry.” Ogunbiyi, who cited an example of how the Commissioner encourages creativity in the industry, said, “When the Commissioner visited Mutual Benefits Assurance Plc, he lauded the company for being one of the greatest employers of labour in the country.

L-R: Senior Brand Manager, WAW, Oluwaseun Ayeni; Miss WAW, Grace Yakubu and Chairman/ Managing Director, Expand Global Industries, at the Most Beautiful Girl in Nigeria Pageantry that held in Lagos...recently

MARKET INDICATORS

Access Corporation Set to Acquire Indirect Equity In Sigma Pensions

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 2022

Kayode Tokede Access Holdings Plc yesterday on the Nigerian Exchange Limited (NGX) announced its proposed acquisition of indirect equity stake in Sigma Pensions. The Group Company Secretary, Access Corporation, Mr. Sunday Ekwochi in a signed statement on the Exchange said the pan-African bank has obtained National Pension Commission (PenCom) and the Federal Competition and Consumer Protection Commission (“FCCPC”) approvals to the proposed acquisition by First Guarantee Pension Limited (FGPL) and First Ally Asset Management Limited (First Ally) of the entire issued shares of Actis Golf Nigeria Ltd (AGNL)

and by extension Sigma Pensions Ltd (Sigma). According to him, AGNL is the sole shareholder of Sigma. He stated that the “Corporation had recently announced its acquisition of majority equity stake in FGPL. He said, “It is intended, subject to the receipt of relevant regulatory approvals that the operations of FGPL and Sigma will be merged to create Nigeria’s fourth largest Pension Fund Administrator (PFA) by Assets Under Management.” Commenting on this landmark transaction, Group Chief Executive, Access Corporation, Dr. Herbert Wigwe in the statement said, “Having concluded

our divestment from the pension funds custody sector and our recent acquisition of FGPL, we are pleased with the progress we are making regarding our diversification and growth into the pension funds administration sector. “We are particularly pleased to have reached this agreement with Actis. Our plan is to consolidate these entities to create a formidable pension funds administration business. “The proposed consolidation will leverage the Corporation’s expansive distribution network, strong risk management culture and best-in-class governance standards to provide contributors with sustainable world class pension funds administration services.”

Titan Trust Bank notifies NGX of 6.59% MTO to Union Bank Shareholders Kayode Tokede Union Bank of Nigeria Plc yesterday said it has received notification from Titan Trust Bank Limited a Mandatory Takeover Offer (MTO) of 1,927,532,558 ordinary shares of 50 kobo each in the Bank. This represents 6.59 per cent of the shareholding of Union Bank of Nigeria. The Company Secretary, Union Bank of Nigeria, Somuyiwa Sonubi in a statement said Titan Trust has received the Securities and Exchange Commission’s (SEC) approval to launch the MTO. According to his statement, the MTO is priced at N7.00 per ordinary share; being the

price at which the Block Trade was executed. He explained further that the qualification date for the MTO is on October, 31st 2022 - which is the date on which the names of shareholders must be in the Register of Members and is the settlement date for trades that are executed on October, 26th 2022. “For clarity, all trades must be executed by Wednesday 26th October, 2022 in order to qualify to participate in the MTO, and only shareholders whose names are in the Register of Members on 31st October, 2022 will be able to participate in the MTO,” the statement added. In December 2021, Union

Bank had announced that subject to regulatory approvals, it would “transfer 89.39 percent of its share capital to TTB”. The agreement is between its majority shareholders — Union Global Partners Limited, Atlas Mara Limited, among others – and TTB. Union Bank also said it has completed the divestment of its entire shareholding interest (direct and indirect) in its subsidiary, Union Bank (UK) Plc, to all the shareholders in its records as of March 4, 2022, “pro rata to their existing shareholding interests in the bank”. Consequently, UBUK is not included in the transaction with Titan Trust Bank, the financial institution said.

Okonjo-Iweala, Brown, Mohammed Conferred National Awards Some of Nigeria’s most accomplished women were conferred with national honours during the recent investiture ceremony presided by President Mohammadu Buhari at the International Conference Centre in Abuja. A statement made available to THISDAY said the Director General of the World Trade Organisation, Dr. Ngozi Okonjo-

Iweala, and United Nations Deputy Secretary General, Ms Amina Mohammed, were conferred with the Grand Commander of the Order of the Niger (GCON) rank; awardwinning author Chimamanda Adichie, joined the Officer of the Order of the Federal Republic (OFR) rank; and health tech investor and Founder, Flying

Doctors Healthcare Investment Company, Dr Ola Brown, was conferred with the Member of the Federal Republic (MFR) rank. The statement noted that the 447 awardees were selected out of 5,000 nominees, and join the prestigious list of 5,341 national honours recipients since its inception in 59 years ago in 1963.

Money Supply (M3)

48,865,823.53

-- CBN Bills Held by Money Holding Sectors

167,956.2

Money Supply (M2)

48,797,867.32

-- Quasi Money

28,405,330.1

-- Narrow Money (M1)

20,392,537.22

---- Currency Outside Banks

2,722,785.91

---- Demand Deposits

17,669,751.32

Net Foreign Assets (NFA)

6,242,394.29

Net Domestic Assets(NDA)

42,623,429.24

-- Net Domestic Credit (NDC)

57,267,178.05

---- Credit to Government (Net)

17,996,690.06

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

39,270,488

--Other Assets Net

5,566,430

Reserve Money (Base Money

11,320,304

--Currency in Circulation

3,259,269.15

--Banks Reserves --Special Intervention Reserves

11,320,303.72 384,377.56

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

June 2022

Inter-Bank Call Rate

11.10

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

13.00

Treasury Bill Rate

2.45

Savings Deposit Rate

1.38

1 Month Deposit Rate

3.48

3 Months Deposit Rate

4.55

6 Months Deposit Rate

4.97

12 Months Deposit Rate

5.30

Prime Lending rate

12.29

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 27 SEPTEMBER 2022

The price of OPEC basket of thirteen crudes stood at $89.50 a barrel on Monday, compared with $92.67 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ WEDNESDAY, OCTOBER 26, 2022

MARKET NEWS

Guinness Nigeria Shareholders Approve N15.64bn Dividend KayodeTokede The shareholders of Guinness Nigeria Plc yesterday approved N15.64billion dividend for the financial year ended June 30, 2022. Shareholders at the 72th Annual General Meeting (AGM) of the Company held in Lagos commenced the management for overcoming post-covid-19 challenges to post 2022 impressive performance.

Speaking at the AGM, one of the shareholders, the National Coordinator, Aba Shareholders Association, Hon. Bright Nwabughogu said that the shareholders are glad and appreciates the management for managing the company to profitability, while he acknowledged that Guinness Nigeria remains the best brewery in Nigeria. “I want to congratulate Guinness Nigeria for pretty job

P R I C E S MAIN BOARD

F O R DEALS

well done. The payment of the dividends is impressive, we urge them to keep doing pretty well and make more shareholders buy the shares. We pray that they pay higher dividends next year”, Hon. Nwabughogu noted. The Company’s revenue for the year under review grew by 29per cent to N206.8billion from N160billion, while the PAT grew by 1147per cent from

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

N1.26bililon in 2021 to N15.65 billion in 2022. Speaking at the meeting, Chair of the Board of Directors, Guinness Nigeria , Dr. Omobola Johnson, stated that commitment to the company’s expansion strategy and improved operational efficiency has helped to sustain the growth. “We are pleased that our thorough and effective strategy is assisting us in achieving our

T R A D E D MAIN BOARD

A S

goals. We have made strategic investments, and we will keep doing so to make sure this leads to more growth. Despite the difficult business environment, Guinness Nigeria has consistently worked to remain competitive. We will work at maintaining the remarkable trajectory that we have now because we value the confidence and trust that our distinguished shareholders have placed in us,” Johnson said.

O F

She added that “Guinness Nigeria remains the only Total Beverage Alcohol Company in Nigeria. We are glad that we are fulfilling our promises of sustainably conducting our business to satisfy our customers and drive better returns on investment for our shareholders. The Board will continue to support the Management’s efforts to sustain global best practices to keep our flag flying”.

2 5 / 1 0 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D LQ H U V T ic k er

P ric e

P ric e C hg %

T ic k er

1.46

9.8%

F ID ELIT YB K

26.6

0.8%

ST ER LN B A N K

1.58

3.9%

Z EN IT H B A N K

10.8

-0.7%

CHA M S

0.27

3.8%

GT C O

8.2

0.3%

M B EN EF IT

0.29

3.6%

A C C ESSC OR P

8.2

-1.2%

T R A N SC OR P

1.09

2.8%

N GXGR OUP

5.8

0.0%

D A N GSUGA R

16.30

2.5%

T R A N SC OR P

3.1

2.8%

0.51

2.0%

UP D C R EIT

2.8

0.0%

B UA C EM EN T

62.00

1.6%

UN IT YB N K

2.4

-2.1%

WA P C O

21.95

1.4%

M B EN EF IT

1.8

3.6%

UP D C

0.97

1.0%

FB NH

1.5

0.0%

7 R S 7 U D G H V E \ 9 D O X H

7 R S / R V H U V T ic k er

T ic k er

Value

A IR T ELA F R I

978.8

0.0%

-9.8%

Z EN IT H B A N K

215.4

-0.7%

-9.6%

GT C O

152.6

0.3%

122.5

0.0%

P ric e

P ric e C hg %

N EM

4.42

-10.0%

R OYA LEX

0.83

M OR ISON

1.98

P ric e C hg %

SOVR EN IN S

0.26

-7.1%

N GXGR OUP

WA P IC

0.34

-5.6%

F ID ELIT YB K

100.7

0.8%

65.9

-1.2%

A IIC O

0.55

-5.2%

A C C ESSC OR P

UA C N

8.60

-4.4%

B UA C EM EN T

28.7

1.6%

22.6

0.0%

H ON YF LOUR

2.40

-4.0%

M TNN

A F R IP R UD

5.20

-3.7%

WA P C O

19.6

1.4%

-3.6%

16.8

0.2%

F T N C OC OA

Afrinvest West Africa Limited

P ric e C hg %

A C A D EM Y

C OR N ER ST

Vo lum e

0.27

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

WEDNESDAY, OCTOBER 26, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 24Oct-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 11.19% AIICO Balanced Fund 3.53 3.58 2.98% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.50% Anchoria Equity Fund 135.99 137.49 -2.34% Anchoria Fixed Income Fund 1.16 1.16 1.36% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.50 21.12 1.07% ARM Discovery Balanced Fund 480.53 495.02 6.51% ARM Ethical Fund 40.89 42.13 4.97% ARM Eurobond Fund ($) 1.09 1.09 0.80% ARM Fixed Income Fund 1.06 1.06 4.86% ARM Money Market Fund 1.00 1.00 10.30% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 85.35 85.35 -10.89% AVA GAM Fixed Income Dollar Naira 1,083.32 1,083.32 8.33% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.10 2.10 2.65% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.28 3.18% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 6.88% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 11.88% Paramount Equity Fund 17.49 17.8 4.74% Women's Investment Fund 143.12 144.81 0.82% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 9.90% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 10.72% EDC Nigeria Fixed Income Fund 1,135.29 1,144.01 1.60% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 9.41% Emerging Africa Bond Fund 1.05 1.05 8.67% Emerging Africa Balanced Diversity Fund 1.01 1.01 0.55% Emerging Africa Eurobond Fund 103.87 103.87 2.46% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1520.7 1520.7 11.37% FBN Balanced Fund 190.88 192.13 8.92% FBN Halal Fund 124.92 124.92 11.41% FBN Money Market Fund 100.00 100.00 11.00% FBN Dollar Fund 126.92 126.92 6.29% FBN Smart Beta Equity Fund 154.84 156.91 3.15% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 10.10% Legacy Debt Fund 3.59 3.59 -10.34% Legacy Equity Fund 1.80 1.83 3.34% Legacy USD Bond Fund 1.25 1.25 3.61% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

N/A N/A N/A

FSDH Dollar Fund N/A N/A N/A GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 13.31% Vantage Balanced Fund 2.90 2.95 4.42% Vantage Guaranteed Income Fund 1.00 1.00 6.00% Kedari Investment Fund (KIF) 143.73 143.73 6.49% Vantage Equity Income Fund (VEIF) - June Year End 1.16 1.20 -2.09% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.26% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.63 1.65 14.51% Lotus Halal Fixed Income Fund 1,161.05 1,161.05 7.66% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.70 11.81 7.81% Meristem Money Market Fund 10.00 10.00 10.66% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 100.78 100.78 8.67% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.77% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 121.53 123.97 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.04% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,478.35 3,511.79 2.69% Stanbic IBTC Bond Fund 243.17 243.17 3.23% Stanbic IBTC Ethical Fund 1.35 1.37 7.94% Stanbic IBTC Guaranteed Investment Fund 328.04 328.04 4.76% Stanbic IBTC Iman Fund 251.12 254.46 7.58% Stanbic IBTC Money Market Fund 1.00 1.00 10.85% Stanbic IBTC Nigerian Equity Fund 11,498.69 11,653.69 5.39% Stanbic IBTC Dollar Fund (USD) 1.35 1.35 4.35% Stanbic IBTC Shariah Fixed Income Fund 120.15 120.15 2.77% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 113.42 113.42 6.62% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.90 0.92 1.73% United Capital Balanced Fund 1.32 1.33 1.20% United Capital Wealth for Women Fund 1.14 1.15 10.24% United Capital Sukuk Fund 1.09 1.09 7.23% United Capital Fixed Income Fund 1.93 1.93 6.31% United Capital Eurobond Fund 124.12 124.12 5.84% United Capital Money Market Fund 1.00 1.00 12.49% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.42 13.53 1.70% Zenith ESG Impact Fund 15.30 15.44 4.63% Zenith Income Fund 23.24 23.24 5.87% Zenith Money Market Fund 1.00 1.00 10.27% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.71 3.81 -7.31% Vetiva Consumer Goods Exchange Traded Fund 5.65 5.75 -3.20% Vetiva Grifﬁn 30 Exchange Traded Fund 16.27 16.47 -7.94% Vetiva Money Market Fund 1.00 1.00 10.07% Vetiva Industrial Goods Exchange Traded Fund 18.76 18.96 -6.08% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 135.27 137.27 -14.17%

REITS NAV Per Share

Yield / T-Rtn

119.29 52.14

5.27% 2.50%

Bid Price

Offer Price

Yield / T-Rtn

14.13 121.60 90.99 17.10 16.40

14.23 124.66 92.98 17.20 16.50

1.05% -4.34% -8.79% 9.38% -2.79%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

FUEL SCARCITY

Petrol Scarcity Hits Lagos, Enters Fourth Week in Abuja Commuters stranded Petrol marketers blame supply deficit Emmanuel Addeh in Abuja and Peter Uzoho in Lagos Petrol scarcity resurfaced in Lagos yesterday, creating long queues of vehicles scrambling for the products at filling stations in many locations in the state. Also, there appears to be no reprieve for residents of the Federal Capital Territory (Abuja) and its environs, including Nasarawa and Niger as the biting petrol scarcity entered its fourth week yesterday. In Lagos, THISDAY’s checks showed there were long queues in filling stations at Maryland, Onipanu, Ikoyi, Victoria Island, Aguda, Itire road, as some of the outlets were shut while few others were selling. On the Iyana-Iba – Egbeda axis of the state, only two filling stations -Oando, recently bought by the NNPC and TotalEnergies were selling as at the time of filing in this report. It was the same experience on the Lagos-Abeokuta expressway with the long queues at the few filling stations causing disruption in vehicular movement on the roads. The situation led to the hike in transport fares in Lagos with many commercial buses drivers and tricycle operators increasing their fares by over 50 per cent, leaving passengers at their mercy. The fuel scarcity and long queues at filling station also forced many commercial bus drivers out of the road as they were unable to get fuel to power their engines, leading to passengers spending long hours on the road in search of vehicles. Commenting on the fuel scarcity in Lagos, a top official at Rainoil Limited, who pleaded anonymity, told THISDAY that there were not sufficient products for them, adding that there was crisis in the supply system. He said marketers should not be held responsible to the problem as they don't import petrol, noting that only the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC) could explain what was happening as they have been the sole importer of petrol since 2015. The official said all the company's storage facilities had run out of stock, stating that he was even confused as to how to get the next supply to continue distributing to customers. "Since 2015 till date, it has been the federal government that is importing fuel through PPMC, which is a subsidiary of NNPC. So other marketers have to go and queue to get allocations. So the right place to get the actual response is to go to the suppliers, which is PPMC. They are the ones giving marketers products. "No marketer is importing fuel into the country. So if there is a scarcity, what that tells you is that there is a shortage in the system which no marketer can take responsibility other than the supplier. "But the truth is that there is scarcity, there is crisis in the system, there is no fuel. My facilities have all run out of stock. In fact, I'm even confused, I don't know where to get the next product for my stations. The only people that should answer to this issue is the NNPC." The marketer, who expressed his displeasure over the situation with petrol supply and distribution in the country, added that he had never seen the industry in such situation before. "But there should equally be a political answer to this. I've not seen the industry like this for a very long time and it's affecting those of us who are operators. We are not happy because it's affecting our mood. My facility in Oghara has stocked out. All my facilities are all stocked out. It's a tough one but I think Nigeria will always find a way around it," he noted. Also, the immediate-past Chairman of the Major Marketers Association of Nigeria (MOMAN) and Managing Director of 11Plc, Mr. Adetunji Oyebanji, told THISDAY that it seemed there was not enough petrol supply in the system. He said he was only able to get a

Fuel queue at a ﬁlling station in Abuja little supply from NNPC last Friday, adding that if that was the case for other marketers, it meant there was insufficient product in the system. Oyebanji said: "On Friday, I had little quantity in my tanks and heard others waiting NNPC to deliver. So I was only able to get some over the weekend. So if that's the case in other people, that means the product is not enough in the system. "There is a certain number of cargoes you need in a week to come into Apapa. If they haven't achieved that level, maybe that has contributed to it, but I can't say for sure. "NNPC will tell you they have sufficient stock, but sometimes, the stock may be on the high seas and not in our tanks. If you say you have enough stock and it's on the high seas, we need it to be in our tanks for us to be able to distribute it. May be that is what is causing the problem." Meanwhile, the Independent Petroleum Marketers Association (IPMAN) has blamed the situation on the unsteady supplies witnessed in the last few days and the attendant hike in depot prices. The National Operations Controller of IPMAN, Mr. Mike Osatuyi, attributed the petrol scarcity in parts of Lagos to the unsteady supply witnessed in the past few days. Osatuyi in a statement issued yesterday, said as a result of the unsteady supply, depots prices had risen from N165 to N177 and N178 per litre in Apapa and its environs. “The marketers will only sell what they buy. If the price of petrol increases, we add our transportation cost and other charges to the selling price,” he said. He appealed to NNPC and the NMDPRA t supply enough petrol across the country to ease scarcity. On the other hand, the NMDPRA

has appealed to Nigerians not to engage in panic buying of petrol because of the scarcity, saying there was enough volume of the product in stock. However, the Chief Executive Officer, NMDPRA, Mr. Farouk Ahmed, was quoted to have said that he had checked with the MOMAN and the NNPC on the level of fuel stock and confirmed that they had sufficient stock. “l spoke with the MOMAN’s Executive Secretary this morning and he told me they have sufficient stock. I have directed them to start evacuating the product immediately to filling stations. “NNPC has also confirmed sufficiency and they have commenced evacuation. From now till tomorrow the situation will be back to normal. I don’t know what is happening but we are on top of the situation,” he said. Also in Abuja, while many fuel stations remained shut for lack of the product, the NNPC stations which had been selling the product, witnessed queues stretching over two kilometres at every point. At the outskirts, the few filling stations which were open were selling for as much as N250 per litre, causing long queues, with motorists spending long man-hours on the fuel lines. Chaotic scenes were seen at Conoil and Total filling stations located at the Central Business District of Abuja as motorists tried to gain entrance to the stations without having to stay on the queue. The NNPC and the NMDPRA had blamed the floods in Lokoja, Kogi State, for the development, stressing that tankers carrying products couldn’t cross the North-central state to Abuja and environs. Several filling stations, including the NNPC mega station in zone 1, Conoil and Total, opposite the headquarters

of the NNPC, formed long queues , causing traffic jams in the capital city. Black marketers have also taken advantage of the situation, selling their wares to interested motorists for as high as N4,000 for a 10-litre gallon container, that is, about N400 per litre. “The Authority wishes to state that the fuel queues are caused by unprecedented flooding in Lokoja, Kogi State, which has submerged a greater part of the city and grounded all vehicular movements. “ This unfortunately has affected the distribution of petroleum products to the Federal Capital Territory, Abuja and environs,” a statement from the agency had explained. As part of measures to mitigate the situation, the NMDPRA said trucking via alternative routes was ongoing, assuring the public that there are sufficient petroleum products inland. While commuters have been stranded, especially civil servants, drivers have hiked their fares by as much as 100 per cent in Abuja, worsening the current economic hardship. The most hit are those living far from the city centre as for instance, fares from Dutse Alhaji to Area 1 which was hitherto N300, is currently N600 while Dei-Dei to Berger and Wuse 2 which used to be N300 and N400 is now from N500 and above. The inclement situation is continuing despite the disclosure by the NNPC about two weeks ago that 146 tankers of the product had arrived the FCT and environs. Executive Director, Downstream of the NNPC, Mr. Adeyemi Adetunji, explained that the water which had subsumed the link road between the south and the north in Kogi had started receding. “We are pleased to inform the general public that more petroleum products trucks have started arriving in Abuja and

other destinations as the flood which had earlier restricted the movement of trucks along Lokoja has receded. “In addition, the federal ministry of works and housing has also intervened with the rehabilitation of 19 sections of the damaged Bida road in Niger state. As of yesterday, October 11, 2022, 146 tankers arrived Bida depot for dispatch into Abuja and environs. “Trucks have continued to arrive Suleja depot for onward dispatch even as of today. Delivery to other parts of the country is also continuing with vehicular movement northwards,” he stated. But spokesman of the Independent Petroleum Marketers Association (IPMAN) Mr Chinedu Ukadike, however blamed it on the delay in the arrival of product vessels, explaining that this has led to a drop in the stock sufficiency level of the NNPC. “We normally buy our products from NNPC, private depots, and private tank farm owners and some of them are located in Lagos, Warri and Port Harcourt, knowing full well that we import petroleum products in this country and most of these products are vessel driven depots and they collect products from ships. “I think there is a shortfall in the sufficiency they have in stock because some of the mother vessels they are expecting are just arriving. There was a little delay and some of the logistics in handling charges in the depots, so these are the issues that have truncated the chain of supply,” he said. According to him, even if the Lokoja flood has subsided, some of the trucks are still in the depots waiting to be loaded . Ukadike explained that most inland depots were without the product, saying it was taking longer days for trucks to move from the south to the northern parts of the country.

PDP Campaign Derides Tinubu, Says Atiku in Head-start Dismisses ex-Lagos gov as rehearsing in hopeless entitlement Chuks Okocha in Abuja The Peoples Democratic Party (PDP) Presidential Campaign Council, yesterday, scorned the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, saying since campaigns kicked off, its presidential standard bearer, Atiku Abubakar, and his running mate, Ifeanyi Okowa, had gained a head start. The. Presidential campaign council, which went further to shade the APC, however, said both Tinubu and his party were still rehearsing, in the self-conceited misconception of entitlement and power of incumbency. In a statement by one of

the spokesperson of. The PDP Presidential Campaign, Senator Dino Melaye, stated that the wide acceptability of Atiku was also becoming evidential, incontrovertible and unassailable. Melaye explained that, "To be sure, Atiku has not only launched his campaign, he has moved from the South to the North and from the North to the South within a spate of two weeks, drawing great and enthusiastic supporters and selling his agenda to Nigerians. "Atiku does not carry the baggage of an ethnic champion. He makes no claim to entitlement, either among his kinsmen or on the national stage. He had no inhibitions in declaring his

Pan-Nigerian status in Kaduna, which some mischievous lot attempted fruitlessly to turn upside down. "In Kaduna, the clay-footed opponents of the PDP and its flag bearers erected all obstacles, including the denial of the use of the Ahmadu Bello Stadium. When all barriers failed, they physically deployed thugs to invade the Ranchers Bees Stadium, but it was too late to use ignorant urchins to stop a moving train." Continuing, Melaye said, "In Benin, the capital of Edo State, a key state in the South-south, Atiku was at home, and was well-received. Excitement pervaded the atmosphere.

"He struck the right chord with the people. Atiku is a lover of culture, education and development. He gave hope to the youths, assuring them of his desire to see the youths of Nigeria becoming global citizens through the right education, innovation and enterprise. "This was an inspiration away from the APC administrator that has kept Universities shut for about nine months. This is also a departure from the vision of Bola Ahmed Tinubu, who has a vision to sentence Nigerian youths to a life of perpetual subsistence, where their main diet will be cassava and agbado. "While Tinubu and his confused

bunch are still rehearsing their take-off, nothing has changed about APC. It's the same way the National Executive Committee of the APC was lately organised. It's the same way a presidential convention was poorly dragged to the dying minutes of extended time. “It's the same way the choice of a running mate was turned into rocket science. At the rate the APC is going, it may be requesting that its members be allowed to vote one week after the general election had been concluded! In the face of these failings, it is ridiculous for APC and Tinubu to contrive an action plan and tag it 'Renewed Hope'.

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

GRADUATION CEREMONY OF THE AFRICAN FILM ACADEMY... L-R: Founder, Africa Movie Academy Awards (AMMA) and CEO, African Film Academy, Mrs Peace Anyiam-Osigwe; Lagos State Governor, Mr. Babajide Sanwo-Olu; APC leader in Alimosho, Alhaji Abdullahi Enilolobo; Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbile-Yusuf; Special Adviser to the Governor on Tourism, Arts and Culture, Barr. Femi Martins and foremost Nollywood actor, Saheed Balogun, during the graduation ceremony of the African Film Academy at the Lagos Theatre, Igando...yesterday

Sunak, New UK Prime Minister Warns of 'Difficult Decisions' Ahead, Promises to Fix Truss' Mistakes

Rishi Sunak yesterday made his first speech as Prime Minister, saying he was chosen to take over to "fix" the mistakes made by Liz Truss. Speaking outside Number 10, the former chancellor praised his predecessor's "restlessness" and her "noble aim" to improve economic growth in the UK. Sky News quoted Sunak to have said: "Some mistakes were made, not borne of ill-will or bad intentions - quite the opposite in fact - but mistakes none the less." After walking into Downing Street with no supporters present, and with a serious face, Sunak reiterated his comments on Monday, saying the country was, "facing a profound economic crisis" and there were "difficult decisions" to come. But he pledged to approach the problems with "compassion" and "to place economic stability and confidence at the heart of this government's agenda." The new PM added: "The government I lead will not leave the next generation, your children and grandchildren, with a debt to settle that we were too weak to pay ourselves." Rishi Sunak used his first speech as Prime Minister to insist that the Conservative Party’s mandate is not "the sole property of any one individual". Speaking on the steps of Downing Street after meeting King Charles III at Buckingham Palace, he said the mandate "belongs to and unites all of us". Hinting at what the priorities of his administration will be, he said he will fulfil manifesto commitments on building a "stronger NHS, better schools, safer streets,

control of our borders, protecting our environment, supporting our Armed Forces, levelling up and building an economy that embraces the opportunities of Brexit." But Sunak promised that he will "bring the same compassion" to No 10 that he brought to his role as chancellor during the pandemic. "You saw me during Covid doing everything I could to protect people and businesses with

schemes like furlough. I promise you this: I will bring that same compassion to the challenges we face today," he said. The speech lasted five minutes and 56 seconds – longer than all of the equivalent speeches by prime ministers in recent decades except for Boris Johnson in 2019, who spoke for 11 minutes and 13 seconds. When Liz Truss made her first speech as prime minister in

Downing Street on September 6, she spoke for four minutes and four seconds. Sunak also used his speech to say that he will put "economic stability and confidence at the heart of this Government’s agenda." Sunak made his political comeback on Monday after being appointed as the new Conservative Party leader unopposed following former prime minister Boris Johnson's decision not to run and

The Senate Public Account Committee has started investigating the Public Works Programme coordinated by National Directorate of Employment (NDE) in 2020. The federal government had launched the programme targeted at recruiting 774,000 Nigerians. At least 1, 000 people were selected from each of the 774 local government areas in the country, who were paid N20, 000 each per month, for three months. The Chairman of the Senate Panel,

But he said the manifesto the Tory Party was elected on in 2019, was "not the sole property of any one individual" and he would "deliver on its promise." However, one of his main messages was that his government would have, "integrity, professionalism and accountability" as he attempted to win back the trust of the public after recent weeks. "Trust is earned," he said. "And I will earn yours."

Atiku Donates N55m to Bayelsa Flood Victims Awards scholarship to late footballer's children The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has donated the sum of N55 million to flood victims in Bayelsa State. Speaking at the Government House, Yenagoa, during a sympathy visit yesterday, Alhaji Abubakar said the donation was his token to support the recovery process of those affected by the flood. Describing the disaster as disheartening, he lamented its effect on the lives and economy of people of the state and called on the federal government and public-spirited individuals and organisations to support Bayelsa in this difficult moment. The former vice president advocated the setting up of an independent flood disaster relief fund that would provide succour to victims and a temporary fund for farmers to ameliorate their

losses and provide them with capital for next year's planting season. He also urged the federal government to build the required infrastructure to contain excess waters. He said if elected president, he would commit to completing the dam in Adamawa State and take other necessary measures to ensure that Nigeria does not suffer this magnitude of damage as a result of flooding. The PDP presidential candidate offered scholarship up to university level to children of the late footballer, Ernest Peremobowei, who drowned after saving five other victims of the flood in a boat mishap. He also presented a posthumous award to the late footballer for his bravery. "Let me first thank Bayelsa delegates for their support dur-

ing the last presidential primary election of our party. My visit to Yenagoa is to have a personal experience of the devastation that victims of flooding have suffered across the country. Climate change is real. The experience in Bayelsa is disheartening. Human lives and public infrastructure have been destroyed. "People who are likely to survive this flood have lost their livelihood and need every ounce of support they can get. I commiserate with them. “Permit me to take this sober moment to send my personal commiserations to President Jonathan for the manner the flood affected him. "On my part and on behalf of my family, I wish to announce the sum of N50 million and call on my friends in the corporate world to also assist the victims

Senate Probes N52bn FG's Public Works Programme Sunday Aborisade in Abuja

Commons leader, Penny Mordaunt dropping out at the last minute. Winning the leadership also meant he won the keys to Number 10, making him the UK's first British Asian and Hindu prime minister, and yesterday he was asked by the King at Buckingham Palace to form a government before officially taking power. Sunak praised another of his predecessors, Johnson, for "his warmth and generosity of spirit".

Senator Mathew Urhoghide, at the Committee's meeting yesterday, gave the NDE two weeks to submit a comprehensive report of the beneficiaries of the scheme in the 36 states of the country and the Federal Capital Territory (FCT). SPAC, which is currently investigating expenditure of Service Wide Votes (SWV) discovered that the NDE collected N26 billion for the scheme in 2020. There was a mild drama at the panel's meeting as all seven senators that were present at the meeting said no members of their constituents

benefited from the scheme. One of the panel members, Senator Thompson Sekibo, said nobody was selected among his constituents that he nominated for employment. He said all names submitted by federal lawmakers who are the real representatives of the people, were not considered. Also, Senator Michael Nnachi said he could not identify any single person from his constituency that benefited from his Senatorial District. He added that the NDE should make available beneficiary lists from

his Senatorial District. The Committee members therefore unanimously agreed that the NDE should submit names, phones number, and the account details of the 1, 000 beneficiaries in each of the 774 local government areas within one week. However, the representative of the NDE who is a Director in the agency, Isah Abdul, appealed to the Committee to give the agency three weeks to compile the list of beneficiaries. However, the Committee declined and gave the agency two weeks to submit the list.

of flood," a statement quoted him to have said. Responding, the Bayelsa State Governor, Senator Douye Diri, said people of the state were encouraged by the display of love by the former vice president. Diri, while confirming receipt of the donation, said he was the first presidential candidate to donate such amount, assuring that the money will be paid into the flood relief account for the benefit of victims. Diri lamented the slow response of the Federal Government despite several efforts by him to get the attention of the relevant authorities. He stressed that Bayelsa remains the state that lays the golden egg where oil was first struck in commercial quantity and wondered why the federal government was yet to give the state the attention it deserved. The Bayelsa governor described Atiku as a caring father who has brought hope to people of the state and expressed optimism that he will win next year's presidential election and work with the state to find lasting solutions to the issue of flooding. The state’s helmsman dismissed suggestions that the flooding was caused by rainfall, insisting that waters from the Lagdo dam and issues of climate change were responsible. He announced that a friend of the state, Alhaji Musa Bello, also awarded scholarship to the late footballer’s children. "Your coming has given us hope and encouragement. We have a father in you and we believe in

you. You have talked to us as a father, like the president of Nigeria. We are happy you are here with us today. For the past three weeks we have been under this siege, cut off from neighbouring states. "We have heard of your good works and all you have done even before you became VP. Today you have also displayed it by donating the sum of N50million, which is already in our kitty. My prayer is that come February 2023 you would be declared President and you will give a frontal attack to this problem that seems insurmountable. "Bayelsa State still lays the golden egg. It is the first state that gave Nigeria the status of oil producing country. We have called and written letters but the response has been too slow.” The governor, his deputy, Senator Lawrence Ewhrudjakpo, some National Assembly members from the state alongside Abubakar and his high-powered delegation later visited the internally displaced persons (IDPs) camp at the Oxbow Lake Pavilion in Yenagoa where the PDP presidential candidate presented N5million cash to the flood victims. On Abubakar’s entourage were the PDP National Chairman, Senator Iyorcha Ayu; Acting Chairman of the party’s Board of Trustees, Senator Adolphus Wabara; former National Chairman of the PDP, Prince Uche Secondus, his campaign council spokesperson, Senator Dino Melaye as well as members of the National Working Committee of the party amongst others.

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

OYEBANJI ON WORKING VISIT TO SMEDAN... L-R: Head of Department, Policy, Planning and Monitoring, Small and Medium Enterprises Develoment Agency of Nigeria, (SMEDAN), Gbenga Ogundeji; Director General, SMEDAN, Olawale Fasanya; Ekiti State governor PHOTO: ENOCK REUBEN Biodun Oyebanji and Director, Enterprise promotion, SMEDAN , Monday Ewans, during the governor's working visit to SMEDAN headquarters in Abuja... yesterday.

Govs in Collusion with Persons at INEC, Security Agencies Plotting to Reverse Electronic Voting, CSO Alleges Emameh Gabriel in Abuja A civil society organisation, Partners for Electoral Reform, yesterday raised the alarm over an alleged plot by some desperate politicians working in collusion with security agencies and some staff of the Independent National Electoral Commission (INEC) to rig the 2023 general elections through manual voting. This was just as it also alleged that there were ongoing efforts to remove the INEC Chairman, Prof. Mamood Yakubu. Chairman of the group, Mr.

Ezenwa Nwagwu, who is also a member of the board of YIAGA, another civil society organisation in the country, made the allegations in an interview with journalists in Abuja. He said Yakubu was being threatened by known persons in the country. "I think that the current INEC leadership has for me put in place a legacy that you can't erase in the sense that it has successfully restored power back to the people. Power to elect has returned back to the polling units. "But that has triggered a lot

of reaction from politicians who are completely absent in any conversation about reforms. What that means is that there seems to be a spotlights on electronic transmission of results. "There seems to be a lot of interests around the BVAS and these are the game changers for 2023.Politicians in collusion with even some elements within INEC and the security agents," he alleged were part of the grand conspiracy against the nation. Ezenwa who called for an investigation on the allegations recently raised by CUPP, said

there was need for citizens to rise against any plot aimed at taking back the power to elect their representatives at level through advanced technology. According to him: "For me is the big challenge for 2023. The threats of reversal of all the gains, incremental gains that we have made to restore power back to the citizens of the country, through the polling units. "Few days ago, the CUPP addressed a press conference, and the reaction to that was of interest to me. It doesn't look as if a lot of people are taking that

press conference seriously. “The allegations that were made deserve investigation. If you can have a congress or coalition of political parties coming to say that the 2023 election is threatened and that there are people who are working to even remove the INEC chairman, and citizens are just like okay, ‘its one of those press conferences "What is the issue? If power has been restored back to the citizens of this country in a way that they can determine their leaders? I think that the media and civil society must continue to amplify those

890 Youths Sponsored By Lagos State Graduate From Film Academy We’ll collaborate with stakeholders to create ecosystem, give livelihood to creative minds, says Sanwo-Olu In line with Governor Babajide Sanwo-Olu administration’s commitment to entertainment and tourism, 890 youths sponsored by the Lagos State Government have graduated from the African Film Academy after a six-week free intensive training. The 890 youths were beneficiaries of the ‘Film in a Box’ programme by the African Film Academy in conjunction with the Lagos State Government, to train and empower young people in the creative industry in three different centres – Alimosho, Epe and Badagry respectively. The graduating trainees were trained in Acting, Art Directing, Light and Lighting, Editing, Sound Production and Post Production, among others. According to a statement, the beneficiaries of the ‘Film in a Box’ initiative, who were visibly excited by the gesture from the Lagos State Government praised the government’s commitment to the creative industry and promised to support and ensure Sanwo-Olu’s victory for a second term in the next year governorship election in Lagos State. Speaking at the Film in a Box Graduation Ceremony of the African Film Academy, held at the Lagos Theatre, Igando in

Alimosho, Sanwo-Olu restated his administration's commitment to collaborate with stakeholders in the entertainment industry to train and acquire skills that would create an ecosystem to give livelihood to creative minds. Sanwo-Olu, who assured that his administration’s THEMES agenda is to make life a lot easier and beneficial to all Lagos residents, especially the youths, said Lagos State Government is committed to achieving its 30years (2022 to 2052) development plan, which was unveiled recently at the 2022 Ehingbeti Summit, as well as building an African Film City in Epe axis of the State. He said his government would ensure it uses entertainment and tourism to connect with the future so that Lagos can be a one-stop shop in the world and therefore urged those in the creative industry to harness the opportunities provided on the right track to ensure a better and greater Lagos as well as taking the State and Nigeria to an enviable position. Sanwo-Olu also urged those who graduated from the African Film Academy and other creative initiatives by the State government to take advantage of the Lagos States Employment Trust Fund and the State Film Fund, to become

self-employed and employers of labour. Speaking earlier, Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Uzamat AkinbileYusuf, said the initiative was to make the youths agents of change in the creative industry and break new grounds to enable them to become self-reliant. She said the concept had been expanded to develop the arts and culture for optimum performance

to stimulate economic growth, skills and job creation to bridge the gap in the state creative industry. Akinbile-Yusuf while congratulating the graduates, assured them that Lagos State Government would continue to monitor their growth and assist them in producing competent creative works in the industry. In her remarks, a renowned filmmaker and Chief Executive Officer of African Film Academy,

Mrs. Peace Anyiam-Osigwe, who commended the doggedness of her students, urged them to explore the creative industry with training received in the academy. She said though the mandate was to train 600 people, 890 students were trained by the Academy in Epe, Alimosho and Badagry, noting that some of those trained in the Academy had gotten jobs already as they were also taught the business side with the creative side.

threats. And if possible, beam bigger search lights in ensuring that the people that have been pinpointed do not lay roles that can truly make that bad dream come true.” He added: "Firstly, you have seen the way the residents electoral commissioners were appointed? We did address the press, calling the attention to the fact that a lot of people with tainted pasts - about five people - with tainted past have been cleared by the National Assembly. And the National Assembly is putting up very lame excuses that there were no affidavits and that nobody swore to affidavits. "But you saw somebody who contested election in 2014 to be governor of a state, in a particular political party. That man is sitting pretty today as an INEC Commissioner. And we said there is nothing wrong with it. "So if he was a party member five years ago, it is not enough to get him out of that place? he asked. He, however called on President Muhammadu Buhari to hold up to his promises of leaving a legacy of electoral integrity. "So we calling on the President to rein in the security agencies. To align them with his vision of a legacy of electoral integrity. He, himself being a beneficiary of that,” he appealed.

Tinubu, Shettima’s Wives, APC Women Donate N20m, Relief Materials to Flood Victims in Benue

Adedayo Akinwale in Abuja

The All Progressives Congress (APC) Women Presidential Campaign Team led by Senator Oluremi Tinubu and the wife of the vice presidential candidate, Nana Shettima have donated N20 million and relief materials to flood victims in Benue State. In a statement yesterday by the campaign council, the donation was made on Monday, when the delegation visited Makurdi, the Benue state capital, to identify with the victims and present relief items.

The delegation informed the State Governor, Mr. Samuel Ortom that they were in the state to commiserate with the people over the unfortunate flood incident that had ravaged several communities. The wife of the APC presidential candidate said they felt the pains and understood the hardship the flood had caused individuals across the country. She noted that this was why the women's campaign team of the APC decided to embark on sympathy visits and donate relief materials to states affected by the flood before it kick starts the 2023

presidential campaigns. Tinubu had while presenting the relief items announced a N10 million cash donation to support 200 individuals with N50,000 each to enable them engage in small-scale businesses. The delegation further commiserated with the people at a meeting facilitated by the APC governorship candidate in Benue State, Rev. Father Hyacinth Alia, where the delegation donated an additional N10 million to relief efforts. A symbolic presentation of relief materials sent to the state

by the First Lady and grand patron of the women's campaign team, Aisha Buhari was made, and the items were received by Mrs. Eunice Ortom, wife of the Benue State governor, on behalf of the victims. In his response, Benue State governor appreciated the delegation for identifying with the victims through the state government despite belonging to different political parties. Shettima on Saturday led a delegation to Kogi state, where cash and relief materials were also donated to flood victims.

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

NIGERIAN PORT AUTHORITY BRIEFING... L-R: Managing Director, Nigerian Port Authority (NPA), Mohammed Koko; Executive Director, Engineering and Technical Services, Prof. Idris Abubakar; Executive Director, Finance and Administration, Dr. Adenrele PHOTO: GODWIN OMOIGUI Adesina, and Executive Director, Marine Operations, Onari Brown, during the weekly State House Brieﬁng at the Presidential Villa, Abuja …yesterday

Court Nulliﬁes APC Primaries in Rivers; Party Says Ruling Dead on Arrival Blessing Ibunge in Port Harcourt The Federal High Court, Port Harcourt, Rivers State, has nullified the primaries of the All Progressives Congress (APC) in the state. Justice E.A. Obile, delivered the judgment, yesterday, in a suit brought before it by some aggrieved members of the party in the state, who had during the primaries of the party, lamented exclusion. But the leadership of the APC in the state, has described the judgement as another ploy to stop the party from participating in the 2023 general election in Rivers, saying it was dead on arrival. Some members of the the APC had during the primaries alleged exclusion and took protest to the state secretariat of the party in Port Harcourt. However, One George Orlu and four others, who claimed to have

purchased nomination forms, had approached the court requesting that the primaries of APC in state be nullified following their alleged exclusion in the process. The court in its decision yesterday ruled that the persons were unlawfully excluded from the primaries, because they were shut out of the primaries unlawfully, adding also that the process amounted to nullity. Obila further agreed in judgement with the plaintiffs that they were wrongly excluded in the process to participate in the party primaries, and ruled that all those elected from the primary stood nullified and should not be recognised as candidates. Meanwhile, the Rivers through its publicity secretary, Mr Darlington Nwauju, said no matter the efforts by some enemies of the party to shut them out, APC would be on the ballot in 2023. He said it was an internal

Ortom: Atiku on Personal Vendetta Against Me George Okoh In Makurdi Benue State Governor, Samuel Ortom, has accused the presidential candidate of the People Democratic Party (PDP) in the 2023 election, Atiku Abubakar, of waging a personal vendetta against him, because he asked him to apologise for wrongly accusing him of profiling the Fulani. Ortom, who further accused Atiku of shunning him in the appointment of his campaign team, revealed this at the Government House, Makurdi. He said while PDP members were consulted and appointed into the Atiku team from Benue, the party’s candidate shuned him for asking him to apologise over his comment at the Arewa House that he (Ortom) was profiling Fulanis as bandits and criminals. The governor disclosed that he called the former vice-president to debunked the statement in the media but he never did, rather, he acted as if he didn't matter in the political arena.

"When Atiku spoke at the Arewa House a few days ago, accusing me of profiling Fulanis as criminals, I called him to express my displeasure over it and called on him to apologise and to also call his media handlers to order over the misinformation. “Atiku never did and has gone around to snub me in the recruitment of his campaign structure. Anyway we are waiting for the day of the election,” the governor said, adding that he has never profiled the Fulanis but asked them to respect the laws of the state. "I have Fulani people in my government and they can live freely in the state. But they have to respect the law of the state,” adding that he could not keep quiet in the face of massive killing and displacement of over two million people in the state. "Several attacks by herdsmen have left our state desolate with over two million IDPs in camps and they say I should not talk," he said.

matter involving the party and some aggrieved members, who had left the party for the Social Democratic Party (SDP), assuring that the issue would be sorted out. "Our immediate response is that the supreme court has decided on a plethora of cases suggesting that political parties are their own CEOs

and can regulate their own internal affairs. "The subject matter for which Justice E. A Obile granted the relief of plaintiffs to nullify the congresses of our party is entirely an internal party affair, therefore, it's a travesty of justice as far as we are concerned. "Secondly, the persons, who

went to court against our party are now members of the SDP and therefore meddlesome interlopers in our internal affairs. "We do believe firmly that the appellate courts shall treat the matter dispassionately and deliver justice in this matter, because this is not an action against the primaries

of our party but an attempt at challenging the composition of our delegates list. "We assure Rivers people that the attempt to rehash the 2019 episode in Rivers State is already dead on arrival. Nothing will stop the APC in Rivers State from being on the ballot in 2023," Nwauju stated

Peter Obi’s Aide Attacks Keyamo, Alleges Tinubu Has Been ‘Parasite to Lagos’ Since He Left Office Following what could be described as a verbal outburst by the campaign spokesman of the All Progressives Congress (APC), Festus Keyamo, challenging the presidential candidate of the Labour Party, Mr. Peter Obi, to let his son organise a successful campaign rally in his State, Anambra, akin to what APC flag bearer’s son, Seyi Tinubu, did for his dad in Lagos, Obi’s Media Aide, Mr. Valentine Obienyem, has described it as typical of Tinubu’s spokesmen. In a statement signed by Obienyem, he said, “the attack dog forgot to differentiate the two sons, and their fathers.” He added: “The only thing that joins Obi and Tinubu is that they

were once governors of states in Nigeria. After that one became a parasite to the state government he served with his entire family, while the other left the government, and he and any members of his family never collected a dime from Anambra state. This assertion is verifiable for Keyamo and his other hirelings.” He stated further, "Unlike Tinubu and his household who have grown to be stupendously wealthy with no identifiable industry or money making ventures outside the state government for over two decades, Obi left behind for the state, a whopping N75 billion after eight years of meritorious service to the state.

"If Keyamo had taken time to study the family he speaks for, he would have avoided this comparison that is bound to expose the parasitic life of his principal and show Nigerians why the entire household is going headlong in the campaign.” Obienyem noted that by their various actions concerning the 2023 elections, the wife, daughter and son of Tinubu have been struggling to, "keep their family business alive, having cornered the commonwealth of Lagos State, which they now run as a family enterprise.” “Unlike Tinubu, Obienyem noted that Obi’s family is not part of his politics, as they are busy running their lives, contributing

to the development of the nation, without nearing public funds.” He enjoined Nigerians to demand that candidates, not their wives, sons or daughters should address issues with respect to the coming elections as they are the ones seeking for the peoples votes and should be scrutinized by the people. "As the most populous black nation, Nigeria has gone past the level of being ruled by proxy. Candidates vying for different political positions must constructively engage Nigerians on issues germane to national development and not engage spokespersons or family members to interact with Nigerians," he concluded.

Bawa: New Law Will Curb Money Laundered Through Law Firms, Real Estate EFCC radio launches soon Wale Igbintade Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has disclosed that the newly signed anti-money laundering, counterterrorism, and crime proceeds law would curb the rate at which funds were being laundered through law firms, real estate, certified geologists, and other professional bodies in the country. Bawa, who hinted that, because of his belief that some of the crimes could be prevented if the members of the public had the right information, added that it was for same reason of intensifying public enlightenment and engagements

that the agency would formally launch an EFCC Radio soon. President Muhammadu Buhari, had on May 12, 2022, signed into law, three bills, namely, the Money Laundering (Prevention and Prohibition) Bill, 2022, the Terrorism (Prevention and Prohibition) Bill, 2022, and the Proceeds of Crime (Recovery and Management) Bill, 2022. However, speaking at a workshop on “Financial Crimes Reporting”, organised for journalists, at the EFCC office in Ikoyi, Lagos, the EFCC Chairman said the new law has criminalised the operation of numbered accounts and mandates financial institutions to ascertain the beneficial owners of accounts

before opening such accounts. He said the anti-money laundering law would reveal through investigation if the money paid to lawyers was for professional fees or money laundering. The EFCC boss, who spoke via zoom said, “I cannot end this remark, without sharing experience with you on certain developments in fraud investigation. I am sure that most of us are aware of the legislative reforms that recently birthed the Money Laundering (Prevention and Prohibition) Act, 2022. "There are certain provisions of this new law that I believe will affect you directly or indirectly. One is the secrecy of financial transactions. The

new law criminalises the operation of numbered accounts and mandates financial institutions to ascertain the beneficial owners of accounts before opening such accounts. "There is a more robust requirement for due diligence and reporting obligation by financial institutions and non-financial businesses and professions to the Special Control Unit Against Money Laundering, SCUML.” The EFCC Chairman also disclosed that the Commission as at of October 7, 2022, had secured 2701 convictions, while the Commission has also recovered assets running into several billions of naira. Continues online

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

BOOK LAUNCH... L-R: Governor of Kano state, Dr. Abdullahi Umar Ganduje, his wife, Dr. Hafsat Umar Ganduje; Emir of Bichi, Alhaji Nasiru Ado Bayero; Deputy Governor of Kano State, Dr. Nasiru Yusuf Gawunu; former President, Dr. Goodluck Jonathan; Leader of the House of Representatives, Hon. Alhassan Ado Doguwa; Senator Kabiru Gaya, Deputy Governor of Katsina state, Alhaji Mannir Yakubua andVice President, Prof. Yemi Osinbajo during the launching of the Book, titled Deputising and Governance in Nigeria, written by Governor Abdullahi Umar Ganduje, held in Abuja... yesterday.

Your Statement is Reckless, Insensitive, APC PCC Tells Obaseki You require psychiatric evaluation, Edo govt replies Adedayo Akinwale The Tinubu/Shettima Presidential Campaign Council, has described the statement credited to Governor Godwin Obaseki of Edo State, that the country would break if the ruling All Progressives Congress (APC) won the 2023 presidential poll, as insensitive and reckless. But in a swift reply, the Edo State government said the ruling party and its minions were either living in another planet or required psychiatric evaluation over their attempt to fault Obaseki’s assess-

ment of the state of the nation. Obaseki had while inaugurating the Edo State chapter of the Peoples Democratic Party(PDP) Presidential Campaign Council, said Nigeria would break up if the APC won the presidential election. However, reacting in a statement yesterday, one of the spokespersons of the APC council, Festus Keyamo, said by making the statement, Obaseki has clearly shown that he must be one of the elements within PDP not only misleading his candidate and party but also enabling them towards inevitable

electoral doom. According to him, “This is to our delight, but we worry that if elected, they will inflict the same divisive spirit on our country as a whole. This is coming from a governor, who turned a blind eye and a deaf ear to the outrageous and divisive statement made by his presidential candidate in Kaduna a few days ago calling for Northerners not to vote for Yoruba or Igbo candidates. "Obaseki and his cohorts, like Governor Ifeanyi Okowa of Delta State, obviously sold their souls for

the Biblical pot of porridge by violating the zoning principles in their own constitution, thereby, causing the present implosion within their party – an implosion that he now wishes to project on the country." Keyamo stressed that Obaseki's exit from APC to the PDP was a signal of peace within the ruling party and the beginning of the unending crises within the PDP. But the Edo government, while replying, said, “The party’s gang of hirelings, including a once-upon-atime human rights activist continue to pollute the public space with

their foul and distasteful takes on the governor’s comment while failing to properly read the room to know that the governor spoke the mind of majority of Nigerians, who have in the last seven years been impoverished by the APC disastrous misrule. “What part of the call for reawakening by Governor Godwin Obaseki is the APC and their minions calling to question? Are Nigerian’s not victims of the party’s calamitous handling of the country’s affairs, which has today made the country the poverty capital of the

Stop Misleading Rivers People, PDP Campaign Tells Wike Atiku to address commonwealth of nations meeting Thursday Releases presidential campaign details Chuks Okocha in Abuja The Peoples Democratic Party (PDP) Presidential Campaign spokesman for Rivers State, Dr. Leloonu Nwibubasa, has advised the Governor Nyesom Wike of the state, to stop misleading the good people of the state through deliberate misinformation. This is as the PDP presidential candidate, Atiku Abubakar, has been scheduled to address a meeting of the Commonwealth of Nations in the United Kingdom on Thursday. Nwibubasa, a former commissioner in Wike's administration, who responded to statements credited to Wike, gave his reply during the inauguration of the state gubernatorial campaign

council. He said it wasn't correct for Wike to claim that Atiku did not reach out to him to send nominees from the state to the Presidential Campaign Council of the party. Rather, he said it was the governor that denied Rivers people more representation in the campaign council by refusing to send in nominees. "Again Rivers people will not be deceived or hoodwinked to support any other presidential candidate apart from Atiku Abubakar on the basis of Governor Wike's twisted 'state interest'. "It is in public domain that no other presidential candidate has the interest of Rivers State at heart like Atiku Abubakar. Atiku's businesses in the state have

provided more jobs in Rivers State and trained over seven hundred thousand people in Rivers State in various skills and craft. "His investments has created wealth and boosted the economy of the state. He is a friend of Rivers People, that's the reason despite Governor Wike's antagonism, he still appointed many very credible Rivers sons into his Presidential Campaign council. "It is a great surprise and also of grave concern that Governor Wike openly declared our leaders, fathers and kinsmen 'enemies of the state' for their decision to support our Party's Presidential candidate Atiku Abubakar. “Rivers people must recall that few months ago, the same 'enemies of the state' traversed the

Wike: Buhari's Award to Me Has Sealed APC’s Fate in Rivers Blessing Ibunge in Port Harcourt

Rivers State Governor, Nyesom Wike, has said defeat awaits the All Progressives Congress (APC) and other opposition parties in his state following the award bestowed on him by the President Muhammadu Buhari-led federal government. Governor Wike said with the distinguished award on infrastructure delivery on him by President Buhari, opposition in the state has already sealed their fate. The governor spoke Monday night during a state banquet held at the Government House, Port Harcourt, in honour of the award. “If the ruling party can say you have done well, who is that person,

let them come and campaign here. Bring your report card, I will bring the award and the certificate. President Buhari said, ‘You (Wike) have done well,” he said. The governor, who dedicated the award to God almighty and the people of Rivers State, said but for God’s divine benevolence and the support of Rivers people, it would have been almost impossible for his administration to achieve much since 2015,and therefore thanked the legislature and judiciary for working in synergy with the executive for the interest and benefit of the State. The governor commended all the service chiefs, the police and Nigeria Security and Civil Defence Corps

for their steadfastness in ensuring that Rivers State remained one of the safest states in the country. He said, “Today we won’t be talking about peace in Rivers if the service commanders and the police are not doing their best. They are putting in their best and for the first time in Rivers State, we are not having problem. Today, they say we are the best in infrastructure delivery, assuming there is no peace, can contractors work?” Wike disclosed that he had authorised the Accountant General of State to pay a total of N60 billion to contractors working on various projects in the 23 Local Government Areas of the state to enable them conclude the projects on time.

length and breath of this country risking their lives on land and in the air to help Governor Wike in his ill-fated Presidential bid." He explained that they gave

their best. If their best could not push Wike through, should they also join him to destroy the party that made them, with Wike being the highest beneficiary?

world, with a disarticulate economy, excruciating debt burden and a hapless population pushing their way through insecure communities, dilapidated road network, among other failings? “When in April, 2021, Governor Obaseki raised the alarm that the federal government was printing money to run the economy and warned that if such practices continued, the Naira was heading to N1000 to $1 as against the rate of N500 to $1 at that time, APC and their lackeys screamed blue murder, playing the ostrich and denying the obvious. But today, what does $1 exchange against the Naira? Is N800 to $1 not equivalent to the warning the governor issued about a year ago? “Without any equivocation, we want to state in full support of His Excellency, Governor Godwin Obaseki, that Nigerians must by any means necessary stop the APC at the ballot from getting to Aso Rock to prevent the unfortunate decent to a failed state.”

Ayu to Nigerians: Shun Politicians with Divisive Messages Urges them to reject same-faith ticket Chuks Okocha in Abuja The National Chairman of the Peoples Democratic Party (PDP), Dr. Iyorchia Ayu, has called on Nigerians to shun politicians with divisive messages and empty promises, saying the circumstances of the moment required Nigerians to think before acting. Ayu who made the call in his goodwill message at the 8th National Convention of the Catholic Social Forum of Nigeria, held at the Public Service Institute of Nigeria, Abuja, also called on Nigerians to reject same-faith ticket offered by the ruling APC, describing it as "insensitive and divisive." In a statement by the Special Adviser to Ayu on Media and Publicity, Simon Imobo-Tswam, who represented the chairman, said if Nigerians were not critical, they risked becoming victims of emotional blackmail His words: "We cannot go it alone. After APC's years of exclusive and divisive politics, what Nigeria needs is the politics of accommodation and inclusion. We need to build bridges of understanding across geographical, religious, cultural and demographic divides."

Ayu recalled that at its 6th BiAnnual Convention, held in Lagos, the Social Forum urged Nigerian Christians to take an active interest in politics by electing leaders with the fear of God and the interests of the people at heart. "If I recall correctly, the theme of that convention was: 'God Give Us Leaders in Nigeria, After Your Heart.' It is a prayer we need to keep praying. But prayer alone will not do. We need to follow it up with rational thinking and positive action. In other words, we need to THINK and ACT. "If we don't think and act rationally, we risk taking emotional decisions or becoming hostages to emotional blackmail. And if we don't reason properly in order to act responsibly, the Church risks becoming the amplifier of the sentimental outbursts that manipulative politicians are treating us to." The former Senate President acknowledged the Forum as the Social Voice of the Catholic Church in Nigeria, and added that with the Church's 70-million-strong congregation, the strength, reach and organic power of the Catholic Social Forum of Nigeria cannot be over-emphasized.

He said it was in this context that the Catholic Church, the Nigerian Church and, indeed, the generality of Nigerians, needed to x-ray the nation's democratic journey so far; take an overview of why she staggers at the crossroads and chart a sensible way forward. Ayu further knocked the ruling APC for for its disregard to Nigeria's religious pluralism, and called on Nigerians to reject the party at the forthcoming polls. "We all know that most genuine Christians are aggrieved by APC's aberration of a same-faith ticket, and the desecration of the Church by consecrating fake bishops. There is justifiable anger. "However, anger or resignation won't do it. Emotional reactions won't do it either. Rational thinking will make us acknowledge that Nigeria is a multi-cultural and multi-faith society. "This means Christians cannot do it alone. There is need to build bridges with other accommodating Nigerians, who though of different faiths, believe in the sacredness of our national unity and identity. Together in Unity of hearts and action we shall turn the nation around," he declared.

WEDNESDAY OCTOBER 26, 2022 ˾ T H I S D AY

NEWS

A NEW MOVIE PREMIERES…

L-R: Ace film Producer, Mr. Tade Ogidan;Wife of Verdant Zeal Executive Vice Chairman, Mrs. Biyi Tunji- Olugbodi; Chief Operating Officer, Verdant Zeal Group, Mr. Dipo Adesida;Chairman, Verdant Zeal Group, Mr. Femi Oyewole, and Permanent Secretary, Lagos State Ministry of Information and Strategy, Mr. Olumide Sogunle, at the premiere of the ‘Delegate’ in Lagos… recently ETOP UKUTT

PDP Presidential Campaign Council Attacks Tinubu Says Nigeria is looking for compassionate, competent president Chuks Okocha inAbuja The Peoples Democratic Party (PDP) Presidential Campaign Council has attacked the All Progressives Party (APC) Presidential Candidate, Bola Tinubu, saying that Nigeria is looking for a president with compassion, competence and not an emperor. The Director of Communication of the PDP Presidential Campaign Council, Dele Momodu, who stated this also that he loves Bola Tinubu as a person, but not as a politician. According to

him, Tinubu exploits people and dump them thereafter. Momodu said: “There is no doubt that I love Tinubu the man but I disagree vehemently with Tinubu the politician. This is not the first time I will say it publicly. Since I now have the opportunity of presenting the bones of my disagreement with Tinubu, courtesy of Festus Keyamo, I will lay them bare.” He said that Tinubu has declined in the last few years, stressing: “I used to see him as a man of his people but no supposed generalissimo would

ever abandon his people in the days of trouble and tribulation. None of the people around him could tell him the truth for pecuniary reasons. He knows it himself but he desperately wants to be

President of Nigeria, by fire by force, after he has lost most of his formidable foot soldiers, and now relying on outsiders to activate and actualize his lifelong ambition for him, which is his legitimate right.

But Nigerians have the right to scrutinise his action plans. “When he was governor, I supported him from the distance while he surrounded himself with some people who pretended to

love him. When he was busy distributing land to journalists in Lagos, I refused to collect my papers because I love my freedom, the reason I was able to tell him truth regularly.

A’Ibom Gov: With Right Leader, Nigeria’s Challenges Can be Overcome Okon Bassey in Uyo

Akwa Ibom State Governor, Mr. Udom Emmanuel has expressed optimism that the challenges affecting the country could be overcome if the right leader emerges in the 2023 general elections. “Issues confronting Nigeria

are very surmountable. It would always take a leader to emerge somehow, somewhere, and things could change. “I believe in Nigeria, we know that this thing could change if in 2023, could emerge a leader who has the love for the people, who knows what to do, an action to take, and what to actually carry

out, that’s all that we need, and this situation can be remedied,” he said. Governor Emmanuel made the assertion yesterday while declaring open the 2022 national conference of Forum of Former Deputy Governors of Nigeria in Uyo Akwa Ibom State capital; with the theme: “Nation Building

a Challenging Times”. According t him, it would be a tale of woes if in 2023, “we don’t even know we are in challenging times as a country. We are looking for a leader, not someone who is on self aggrandisement, not somebody that has sworn that when I come to the earth, I must be a president before I die.

The Public Accounts Committee of the Senate has commended the Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (rtd) for providing good leadership for the anti-narcotics agency in its ongoing onslaught against drug abuse and illicit drug

Senator Mathew Urhoghide who gave the commendation yesterday during the Public Hearing on Service Wide Vote at the Senate Complex Abuja, said Marwa’s leadership at NDLEA has changed the country’s drug war narrative both locally and internationally. Urhoghide, while bemoaning

and glaring to all Nigerians that the NDLEA is not only barking but equally biting deep drug barons and dealers that have for years remained invisible and untouchable. He expressed the Committee’s readiness to continue to support Marwa and the agency to succeed in making

committee continues to push for support for Marwa’s tireless efforts against drug abuse and trafficking of illicit substances, adding that the NDLEA boss should always feel free to approach members on any support that will make the agency better.

EU, British Council Train CSOs on Compliance with Senate Committee Backs NDLEA’s War against Drug Cartels trafficking in Nigeria. the past when the agency lost its Nigeria a drug free country. Regulatory Frameworks MichaelOlugbodeinAbuja Chairman of the Committee, glory, said it is now daily visible He added that while the Seriki Adinoyi inJos The European Union (EU) in collaboration with the British Council has organised two-day training in Plateau State for Civil Society Organisations (CSOs) on compliance with CSO regulatory framework. The workshop, which focused on the need to engage compliance officers with prescribed qualifications, also emphasised on the need to always file reports of annual returns and ensuring up-to-date remittance of taxes to the appropriate quarters. The training, which was at the instance of the European Union

(EU) – Agents for Citizens-driven Transformation (ACT) programme in conjunction with the British Council focused on corporate governance and CAMA 2020, AntiMoney Laundering Regulation (SCUML); Pensions Regulations, CAMA and FIRS; SCUML and Pensions. The resource person, Professor Adedeji Adekunle, and representatives of Corporate Affair Commission (CAC), Federal Inland Revenue Service (FIRS), Special Control Unit against Money Laundry (SCUML), and PenCom took time to thoroughly educate the trainees on the essence of the workshop.

Obaseki Allegedly Warns against Erection of APC Campaign Billboards in Edo Adibe Emenyonu in Benin City

The Edo State Governor, Mr. Godwin Obaseki, has allegedly warned billboard owners in the state not to accept any campaign billboards from the opposition All Progressives Congress (APC). A member of the billboards

association in the state, Mr. Ibrahim Momoh, made the allegation yesterday in Benin City, and added that the governor even threatened that anybody who violated such order would lose his/her board. When contacted, the State Director, Advertising Practitioners

Council of Nigeria (APCON), Mr. Abdul Hakeem Tiamiyu, said that he had the same complaints from billboard owner on the matter. Comfirming the development on phone, Assistant Secretary, Billboard Owners Association, Edo State Chapter, Mr. Precious

Otameh, confirmed the allegation to THiSDAY, saying that “it is true.” Otameh said that a messag from Edo State Government House said that members of the association should not accept adverts from the APC and other opposition parties in the state.

Afuye, who represented Ikere Constituency 1, died on October 19, 2022, after he allegedly suffered cardiac arrest. His body is yet to be interred. The two term lawmaker died at the age of 66. A member of the House of Assembly, who spoke to journalist in Ado Ekiti yesterday under a strict condition of anonymity, said that

Adelugba’s name was being touted on the strength of being from the South Senatorial District. The lawmaker added that the general feeling in the assembly was that the south should be allowed to complete Afuye’s term, which was from Ikere Local Government of Ekiti South extraction. Another factor that favoured Adelugba was her gender. She

would be making history as the first female speaker of the assembly since 1999, if the permutation favoured her. The source said: “Well, the general feeling in the assembly is that, this current dispensation belongs to Ekiti South in terms leadership as related to the Speakership position, and that the zone must be allowed to complete its tenure.

Gluwa Blockchain Platform to Transform Lagos Agric Sector Female Lawmaker, Adelugba, May Replace Afuye as Ekiti Assembly Speaker The Gluwa blockchain infrastructure platform will transform the Lagos State agricultural sector through the digitisation of agricultural assets, Chief Executive Officer of the company, Tae Oh, has said. The project would entail partnering with the Lagos State Ministries of Agriculture, Finance, Science and Technology as well as the Lands Bureau on the integration of physical farmlands into non-fungible tokens in a bid to provide access to digital asset backed loans for all Lagos State farmers. Agriculture being one of the backbones of the Nigerian economy, with 35 per cent of the population in its employ must be modernised for government and the organised private sector to realise its full

potential and attendant benefits. According to the five-year Lagos State Agricultural and Food Systems road map, where the sector is projected to generate upwards of $10 billion by the year 2025, it will be of immense value for agricultural assets to be identified, recorded, and traded using innovative blockchain technology. The company explained that at a recent visit of the Gluwa team to His Majesty, Oba Gbolahan Lawal, the Oniru of Iruland and former Commissioner of Agriculture in Lagos State, the team detailed their plans to build a gateway for local farmers to access the international markets via borderless financial services ranging from decentralized finance loans to selling on global commodity futures markets.

VictorOgunjeinAdoEkiti

Strong indications emerged in Ekiti State yesterday that a female lawmaker, Hon. Bunmi Adelugba, might replace the late Speaker of the State House of Assembly, Hon. Funminiyi Afuye. Adelugba, who is currently the Chief Whip, is representing Emure Constituency in the state assembly.

Dearth of Doctors Worries Medical Association, Says only 533 on Kano’s Payroll Ibrahim Shuaibu in Kano

The Chairman of the Kano State branch of the Nigerian Medical Association (NMA), Dr. Abdullahi Kabir Sulaiman, has said that only 533 medical doctors are on the payroll of the Kano State government.

Sulaiman disclosed this yesterday in Kano when he lamented the brain drain in the healthcare sector in the state. He blamed the brain drain in the sector on the poor condition of service and remuneration of healthcare workers. Sulaiman said that many

doctors have left the state civil service for jobs at federal government’s hospitals and other states with better welfare packages. He, therefore, advised the state government to address the pay disparity between state and federal health workers to

mitigate the problem of internal and external brain drain. “If the state government could address the pay disparity between state and federal governments, it would stop doctors from going to Ghana, Uganda, and South Africa, among others.

WEDNESDAY OCTOBER 26, 2022 ˾ T H I S D AY

NEWSXTRA

ARILA GROUP’S BREAKFAST MEETING...

L-R: Relationship Manager, Fidelity Bank, Amaka Ogbue; Director, Eastern Africa, Arila Group, Richard Muli; Head Agribusiness Natural Resources & Project Development, Heritage Bank Limited, Adelana Ogunjurin; Managing Director, Arila Group, Dimieari Von Kemedi; Chief Operating, Officer Arila Group, Paul Moseley; Head, Private Banking, Fidelity Bank Plc, Chioma Nwankwo, and Divisional Head, Agribusiness, Heritage Bank Limited, Kehinde Olugbemi during a Breakfast Meeting organised by Arila Group in Lagos... yesterday

Judges Transfer: Appeal Court Says Panel on Kanu Not Targeted Alex Enumah in Abuja The Court of Appeal in Abuja yesterday, said the transfer of 21 Justices to various divisions in the country has nothing to do with the judgment of the Court that discharged and quashed the terrorism charges against the leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu. The appellate court, in a statement, observed that contrary to a report in a section of the media, the posting of 21 out

of its 81 Justices was a routine exercise aimed at reinvigorating the justice delivery of the Court. The Chief Registrar of the court, Malam Umar Bangari, who signed the statement denied the media report that the three justices, who delivered the October 13 judgment that ordered the release of Kanu from detention were transferred, adding that only one Justice out of the three that handled Kanu’s matter was affected by the postings. The statement read: “The

Nigerian Universities Commence Post-graduate Courses in Substance, Addiction Studies

Emameh Gabriel inAbuja

The International Society of Substances Use Professionals (ISSUP) (Nigeria) has disclosed that two universities in Nigeria have been approved to offer post graduate courses in substance use prevention, treatment and policy standard as an international course. The universities are Nnamdi Azikiwe University, Awka, Anambra State (UNIZIK) and the Niger Delta University (NDU). This was just as it was revealed that secondary schools teachers in some parts of the country have also underwent training in related discipline to mitigate the level of drug abuse among their students. The disclosure was made yesterday in Abuja by its Country Chapter President, Dr. Martin O. Agwogie, at its

4th National Conference and Annual General Meeting (AGM) with the theme: “Building a Multidisciplinary Drug Demand Reduction Network in Nigeria,” in collaboration with both its international and local partners, including the National Drug Law Enforcement Agency (NDLEA), the Nigerian Security and Civil Defense Corps, the Ministry of Health and other relevant stakeholders in the fight against drug abuse and trafficking. In his welcome address, Agwogie said that since the formal inauguration of the association on October 17, 2019, ISSUP Nigeria has remained committed to the promotion of evidence-based substance use prevention, treatment, recovery and contributing to drug policy development in Nigeria.

attention of the Court of Appeal, has been drawn to a publication in the media on Monday October 24, 2022 with a caption ‘Nnamdi Kanu: 3 Justices on Appeal Court Panel Transferred’. “The publication in question conveyed the innuendo to the effect that the recent postings of Justices of the Court of Appeal were in connection with or in

response to the judgment of the Court of October 13, 2022 in Nnamdi Kanu Versus the Federal Republic of Nigeria. “We wish to state categorically that the general postings of the Justices of the Court of Appeal under reference were routine and aimed at reinvigorating the justice delivery system of the Court. In fact, 21 out of 81 Justices,

including six Presiding Justices of the Court, were affected by the general postings. “It is, therefore, incorrect to insinuate that the Honourable Justices, who delivered the judgment in the Nnamdi Kanu appeal were the targets of the routine posting exercise. A few minutes of inquiry by the media could have clarified the fact.

“We appeal to the media to exercise restraint and circumspection in reporting matters pertaining to the Court and its operations. The Court of Appeal has an open door policy of providing easy access to the media to make inquiries and seek clarification on any matters of interest to the media for the benefit of the general public.

Nasarawa Killings: Sule Cuts Short Trip to Kano Igbawase Ukumba in Lafia The Governor of Nasarawa State, Mr. Abdullahi Sule, yesterday said that he had to cut short his trip to participate in the All Progressives Congress (APC) activities in Kano State in order to attend to the crisis that has engulfed parts of his state that has lead to the death of unspecified number of persons. Recently, reports has it that the Tiv community in Nasarawa

State had loss about 21 persons from across Doma, Keana and Obi Local Government Areas within the last two months due to brutal attacks by armed herdsmen, with many others sustaining varying degrees of injuries while thousands of persons were displaced. Sule, however, condemned in totality the recent killings of some Tiv farmers by suspected herdsmen in Keana and Obi Local Government Areas of the state.

The governor equally condemned the killing of some Fulani herders in the aforementioned council areas, even as he added that security agencies have been deployed to the affected areas in order to restore normalcy and bring the perpetrators to book. He made the condemnations when he paid a combined courtesy call on members of the Nasarawa State Council of the Nigeria Union of Journalists (NUJ)

and the state Correspondents’ Chapel at the NUJ Press Centre in Lafia. Addressing the journalists, the governor recalled that the state had been enjoying relative peace until the recent killings in some communities of the state. He, therefore, said that the state government would hold a security meeting to assess and address the situation to enable the displaced persons to return to their communities.

You Can’t Become Governor with Lies, Delta Tells Omo-Agege The Delta State Government has advised All Progressives Congress (APC) Governorship Candidate in the state, Senator Ovie Omo-Agege, to desist from telling lies to hoodwink unsuspecting Deltans into supporting his already failed ambition. The Commissioner for Information, Mr. Charles Aniagwu, at a news conference in Asaba said no amount of

lies and propaganda deployed by the APC candidate would secure the governorship of the state for him and his failed party. Aniagwu, who was with the Chief Press Secretary to the Governor, Mr. Olisa Ifeajika, stated that the state government would not fold its hands and allow Omo-Agege to use lies and bogus promises to deceive Deltans into voting APC in the

general elections. He said that Nigerians were still grappling with the lies told by the APC to come to power in 2015 and would not allow the Deputy President of the Senate to deceive Deltans into voting a party that lacked leadership and governance skills. According to him, the attitude of Omo-Agege “is becoming worrisome even when we have advised him

before to tell Deltans what he would do for them because we acknowledge that it is his democratic right to seek the office he is aspiring to occupy in 2023. Aniagwu, however, said that “in doing so, it will not be wise for him to take for granted the intelligence of Deltans, because the best way to speak to Deltans is to tell them the truth.

ECHOLAB, GE Healthcare Partner Ex-employee Begins Proceedings against Mgt Staff Members of Mobil Mr. Dozie Adesuwa; Executive are to take notice that unless they file an affidavit of compliance in on Interventional Radiology WaleIgbintade Director Human Relations, Mr. obey the directions contained in two weeks, and a lien placed on Kate Ejisu ECHOLAB Radiology and Laboratory Services (ECHOLAB), in partnership with GE Healthcare, is leading the charge towards adoption of interventional radiology(IR) in healthcare service delivery in Nigeria. This was the focus of the ECHOLAB-GE Distinguished Doctors’ Forum, periodic medical diagnostics symposium, which was held in Lagos recently. The world over, IR has had immense growth in importance and value in healthcare delivery systems. The concept behind IR is to diagnose and treat patients using the least invasive techniques currently available in order to minimize risk to

the patient and improve health outcomes. These procedures have less risk, less pain and less recovery time in comparison to open surgery. Speaking on the initiative, Chief Executive Officer of ECHOLAB, Dr. Alok Bhatia, noted: “IR is a relatively new field of interest for a developing country like Nigeria. There aren’t many centres that are doing that kind of work. The necessary equipment is lacking and, where you have it, you do not have enough trained manpower. However, being a part of the Integrated Diagnostics Holdings (IDH),one of the largest medical diagnostic groups, we have done extensive work in IR with over 100 radiologists reporting across different radiology segments.”

A former staff member of Mobil Producing Nigeria Unlimited, Mr. James Nwagbogwu Ebede, has commenced committal to prison proceeding against six management staff of the company over alleged disobedience of court order. The affected persons are the Lead Country Manager, Mr. Richarch Lang; General Counsel,

Aliyu Bala; Production Manager, Mr. Alexander Savva and two other senior management staff, Mr. Olusegun Banwo and Mr. Adelabu Adedoyin. In form (48), notice of consequence of disobedience of order of court filed before the National Industrial Court, Lagos Division, the contemnors

the order of the court, made on August 15, 2022. The court had ordered Mobil Producing Nigeria Unlimited to furnish an account in any name with enough funds to offset the judgment of the court should the claimant’s claims succeed. The court also ordered Mobil Producing Nigeria Unlimited to

the said account so that these funds could not be depleted. The court also directed that the funds in the account would revert to the defendants if they successfully defend against the claimant’s claims, forthwith you shall be guilty of contempt of court and would be liable to be committed to prison.

Yuletide: FRSC Mobilises Security Agencies to Join Patrol, Sets Up Mobile Courts Okon Bassey in Uyo

The Acting Corps Marshall of Federal Road Safety Corps (FRSC), Mr. Dauda Biu, has directed that mobile courts be set up across the states of the federation for quick trial of road violators during the yuletide season. The Corps Marshall of FRSC

gave the directive yesterday during the ember month special patrol flag-off rally held at Ikot Ekpene Local Government Area of Akwa Ibom State. Biu, who was represented by the DCC Ekette Bassey, hinted that during the period, FRSC would be paying attention to effective traffic control, failure

to install/use speed limiting devices by commercial vehicles, and overloading. Others are lane indiscipline, driver’s licence violation, removal of rickety vehicles on the road and other obstructions, driving with expired/worn out tyres, and without a spare tyre. He said that the exercise is

to cut down on road traffic crashes and the loss of lives and properties usually experience during the period. Biu said: “You are all aware that the yuletide is one of the periods when Nigerians travel across the length and breadth of the country, especially the Christian faithful.

WEDNESDAY, ͺ;˜ ͺ͸ͺͺ ˾ T H I S D AY

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Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

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WORLD ATHLETE2020...TOKYO OF THE YEAR TOKYO 2020...TOKYO 2020...

Onyali, Fasuba, Others Drum Support for Amusan Some notable former Nigerian track and field internationals have urged compatriots to continue to vote for reigning World 100m hurdles champion and record holder, Tobi Amusan as she bids to become the first athlete from the country to be crowned World Athlete of the Year by World Athletics. Former African queen of the track, Mary Onyali and former Nigeria long jump king, Charlton Ehizuelen are spearheading this campaign. They are joined by seven-time Nigeria 100m champion, Endurance Ojokolo, reigning Nigeria 100m fastest man, Olusoji Fasuba, former Nigeria 100m hurdles record holder, Angela Atede and Olympic, World indoor and outdoor championships silver medalist, Glory Alozie. Amusan is one of the 10 women

nominated for the yearly award and 25% of the votes that she will require to win will come from fans worldwide. “Hello fellow Nigerians! Our World Champion and World Record Holder "Turbo" Tobi Amusan needs your vote to win this year's "Woman Athlete of the Year 2022" award by World Athletics. “Please get online and vote massively for her to win and bring back the trophy same as the joy she gave us when she broke the world record a few months ago. “Thanking you all in advance. Vote vote vote ,” Onyali wrote in a special appeal to Nigerians. United States-based Ehizuelen who is two-time NCAA champion and a potential gold medalist at the 1976 Montreal Olympic Games boycotted by Nigeria, also shared

in Onyali's sentiment. For Ojokolo, it is time for Nigerians to reward Amusan for what she has done to put smiles on their faces. “I think it is only fair to say that our golden girl Tobi Amusan has secured her place in history as the greatest Nigerian athlete of all time. She represented Nigeria with so much pride and finesse.

Now, it's our turn to do our part for her and VOTE! VOTE! VOTE! Tobi Amusan as World Athlete Of The Year 2022! 9ger Nor Dey Carry Last ooo,” she wrote on Twitter yesterday. Fasuba, the first and only African sprinter to win the African Championships 100m title three consecutive times agrees with Ojokolo.

“Tobi Amusan has made Nigerians proud by bringing the 100m hurdles world record to Nigeria. It's now our turn as Nigerians to collectively help bring the World Athlete of the Year award to Nigeria. So please let's help our home girl bring that victory home,” said Fasuba, one of only three Nigerians to have won a world title.

Tobi Amusan ....getting support from ex internationals

Giant Painting Celebrates ‘Warrior’ Maradona in Buenos Aires An Argentine artist has painted a giant mural of late soccer legend Diego Maradona in Buenos Aires to commemorate what would have been the World Cup winner’s 62nd birthday at the end of October. Muralist Martín Ron filled the 1,600-square-meter (17,000- squareft) wall in the heart of the city with a depiction of Maradona, based on a photo of him urging his team on during the World Cup final against Germany in 1990, which Argentina went on to lose. “We already know that he was the best player in the world, but who was he as a person? He was a warrior, he went up against adversity, even all injured, he faced whatever came at him,” Ron, 41, told Reuters. Maradona died of cardiac arrest at the age of 60 in late 2020, which sparked off a nationwide period of mourning for the troubled star who was revered by millions and

nicknamed “D10S”, a play on his shirt number and the Spanish word for “God”. The nearly completed mural will take in total some 25 days of work for Ron and a team of seven artists, and uses 800 liters (200 gallons) of paint. Ron said it was the largest mural of Maradona ever – around 45 meters (148 ft) high, similar in height to New York’s Statue of Liberty. Ron added three stars to the mural to represent Argentina’s two World Cup wins in 1978 and 1986 – and what he hopes will be another in Qatar this year. Cars driving by honked their horns and passersby stopped to take photos. “On a sporting level, he is my greatest idol,” said Sebastián Martínez, a 46-year-old physical education teacher who had a Maradona tattoo on his leg. “It is a nice tribute to him.”

Golf: India Cup 2022 to Teeoff October 31 at Ikoyi Club The 2022 edition of the India Cup Golf Tournament organised by IGF (Indian Golfers Foundation ), will get underway on Monday, October 31st at the golf section of Ikoyi Club 1938 in Lagos with the club’s caddies and professional golfer's tournament day. On Tuesday the Lady’s will play their tournament. Keshab Vaswani member of the organising committee for the event, informed repoertthat the golf section is buzzing in anticipation of the event as evidenced in the number of entries received so far from different categories of golfers. An excess of 400 golfers have signed up to take part in the weeklong golfing activities. The Indian Golfers Foundation wishes to acknowledge with deep gratitude the steadfast commitment of their sponsors who have stood firmly with them even in these trying economic conditions. They identify with the ideals of the IGF in hosting the event as a channel to foster the growing relationship between the Indian and international Communitties with their Nigerian counterparts. “The atmosphere created at the event is one of key interest to us and that is why this event has gone on for so long.” He added. With the backing of African Industries, Zenith Bank, 7Up Bottling company, and Rwandair being the premium sponsors amongst others,

the final events are scheduled for Friday November 4th which will have the Veteran members of the Ikoyi Club and sponsors guests participating for prizes. Saturday 5th November will see the main draw Men’s tournament, where the gentlemen golfers will be taking on the India Cup challenge. The event will be an eighteenhole stoke play event whose eventual winner will be determined by lowest gross score and rewarded with a Business Class return ticket courtesy of Rwandair to Kigali. There will also be prizes for runner up. Net score categories will also be rewarded ; IGF tournament organising members underscored that the spectrum of hospitality and entertainment offerings that every participant will be treated to is the hallmark of the event. A special Hole-in-One prize of a Kia Sonet vehicle awaits the lucky golfer who can achieve this feat. “We have deliberately designed the event to be more of a celebration of the different communities represented than a golf competition. The India Cup has always been like that, and that is why everyone wants to be part of it.” The closing ceremony will be a presentation dinner after the Saturday 5th November rounds at the golf section, where all participants will be feted to dinner and an Indian-inspired evening.

L-R: PSG’s superstars, Lionel Messi, Kylian Mbappe and Neymar were all on target last night as the Paris team crushed Maccabi Haifa 7-2 to hang on to the top spot of Group H of the UEFA Champions League...last night

Ajax Boss, Schreuder, Urges Bassey, Others to Show Guts against Liverpool Tonight Femi Solaja with agency report The prospect of Super Eagles defender, Calvin Bassey and his team mates at Ajax Amsterdam to continue this year’s UEFA Champions league depends largely on if they go according to the plans the team’s coach, Alfred Schreuder, wants then to execute when they host Liverpool tonight. Schreuder yesterday urged his players to rely on their self-belief so that they can overcome the former European champions and keep alive their slim hopes of advancing to the knockout stage. Ajax would need to beat Liverpool by two goals at the Amsterdam Arena in their penultimate Group A match to stand any chance of progressing provided other results also go their way. In the final round of matches

RESULTS Salzburg D’Zagreb Celtic Leipzig Sevilla Dortmund Benfica PSG

1-2 Chelsea 0-4 AC Milan 1-1 Shakhtar 3-2 R’Madrid 3-0 Copenhagen 0-0 Man City 4-3 Juventus 7-2 M’Haifa

TODAY Ajax Napoli C’Brugge Atletico Inter Barcelona E’Frankfurt Tottenham

v Liverpool v Rangers v Porto v Leverkusen v V’Plzen v B’Munich v Marseille v Sporting

C H A M P I O N S L E AG U E next week Liverpool face Napoli while Ajax take on bottom placed Glasgow Rangers. “It's about the points. We must display the belief that it is possible. If we want to play on this stage, we have to show that with healthy bravado and aggression,” Schreuder told a news conference yesterday. “We need to show more guts. We have to run free at the right times.” Ajax go into the game on the back of three successive defeats in

the Champions League, beaten 2-1 at Anfield in mid-September and then hammered 6-1 at home and 4-2 away by Napoli. "We know Liverpool have a great team, but we just want to do things better in possession than there at Anfield. We will also have to do things better when we don’t have the ball. “When we had possession of the ball against Napoli, we were pretty decent and also created chances. But

we have to improve defensively and that will be important.” Schreuder watched Liverpool’s surprise weekend loss at struggling Nottingham Forest but said he was reading nothing into the defeat. “They could have won that game 6-1,” he insisted. “They are a team of a high quality and have shown that this season already in their game against Manchester City for example.” A draw would be enough to see Liverpool advance and Ajax eliminated from the Champions League.

Flamingos Seek to Berth Final at Colombia’s Expense Nigeria’s U17 girls, Flamingos have already pulled up a few trees at the ongoing FIFA U17 Women’s World Cup finals in India, but they feel even more motivated to reach the Championship Match at the expense of Colombia whom they play in the first semi-final this afternoon. President of NFF, Alhaji Ibrahim Musa Gusau on Tuesday arrived in the Indian city of Goa, where he will lead the cheers as Africa’s best team seeks to extend their FIFA U17 Women’s World Cup record by reaching Sunday’s final. Already, the Flamingos have become the first African team to reach the semi finals of the FIFA U17 Women’s World Cup, after ejecting the United States in sensational fashion on Friday. Nigeria is the only African country to have played in the Final of the FIFA U20 Women’s World Cup. The first time was in Germany in 2010, when the Falconets lost 0-2 to Germany after an early goal by Player of the Tournament Alexander

Nigeria’s Flamingos at their last training session ahead of today’s semi ﬁnal clash with Colombia at the ongoing FIFA Under-17 women’s World Cup in India

U 1 7 W O M E N ’S W O R L D C U P Popp and an unfortunate own goal by defender Osinachi Ohale in Bielefeld. The second time was in Canada in 2014, when the Germans again prevailed by the odd goal after extra time in Montreal. Today, history-making Coach Bankole Olowookere will again

bank on goalkeeper Faith Omilana, defenders Miracle Usani, Tumininu Adeshina, Comfort Folorunsho and Blessing Emmanuel, midfielders Taiwo Afolabi, Alvine Dah-Zossu and Blessing Sunday, and forwards Opeyemi Ajakaye, Edidiong Etim and Aminat Omowunmi Bello.

Wednesday, October 26, 2022

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“…Trillions of ecological funds have allegedly gone down the drain. The resulting human costs directly threaten human rights – rights to life and to a place to live… -The Socio-Economic Rights and Accountability Project (SERAP) asking the federal government to investigate the management of trillions of naira allocated as ecological funds to all tiers of government since 2001.

KAYODEKOMOLAFE THE HORIZON

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0805 500 1974

When Floods Attack

“B

ayelsa is under attack.” That has been the battle cry of Governor Douye Diri, whose state is virtually submerged. Diri’s Bayelsa State is one of the 33 states of Nigeria which have experienced flood disasters in recent weeks. Horrific pictures of the situation in Bayelsa State have gone viral in the cyberspace. Corpses have been reportedly exhumed from submerged cemeteries in the state while Governor Diri declared a week break for workers because of the disruption of movement caused by the floods. The Otuoke home of former President Goodluck Jonathan is flooded. Apart from Bayelsa, stories of calamity have also been reported from Kogi, Taraba, Benue, Imo, Delta, Rivers, Jigawa, Lagos, Anambra, Oyo, Abia etc. With over 600 lives lost, more than 2, 700 persons injured, 1.4 million displaced, 123, 000 houses destroyed and over 390 hectares of farmlands devastated, it might not be hyperbolic to say that the country is indeed under attack by floods. This is not a military attack; it’s an ecological destruction caused by a noxious combination of natural and human factors. What with the predictions of more floods in the remaining months of the year, the real and present danger are manifest on the ecological horizon. Natural disasters such as floods do not respect jurisdictions or geo-political boundaries. And you may say that no one is to blame for it. However, governments at all levels should take responsibility for the lack or failure of environmental policies to tackle the problems head- on. Some state governments have alleged inadequate federal response to what is undoubtedly a national emergency given the magnitude of the disasters. In the process, questions have been legitimately raised about the disbursement of ecological funds. In fact, a non-governmental organisation, the Socio-Economic Rights and Accountability Project (SERAP) has threatened legal action to compel the federal government to probe the spending of ecological funds by all tiers of government since 2001. Established by an Act in 1981 during the administration of President Shehu Shagari, the Ecological Fund is meant to be a special financial intervention to solve myriad ecological problems by governments at all levels. The Fund represents 3% of the resources available to the Federal Account which are shared to the three tiers of government. The funds are, therefore, expected to be used to address local ecological peculiarities. For instance, with the funds states in the far north are expected to, among other things, tackle desertification while those in the south east ought to devote the money to solve the menace of erosion in the zone. Only yesterday, the highly important Onitsha-Owerri Road reportedly caved in as a result of erosion with all the ominous implications for inter-state movement in the zone. The coastal communities should be fortified against being washed away by ocean surge with the money. While the controversy on what happened

Governor Douye Diri to the ecological fund rages, victims of flood disasters in the various communities need urgent relief in the face of hunger, dehydration and disease. The people who are displaced deserve urgent reliefs while the damage done to the environment ought to be quickly mitigated. Their situation should never be considered hopeless in some quarters. That is why governments exist at all levels. It was, therefore, a relief of sorts yesterday when Minister of Humanitarian Affairs, Disaster Management and Social Development Sadiya Umar Farouq confirmed that relief materials had been delivered to 21 states. The minister spoke on the response of her ministry and that of that National Emergency Management Agency (NEMA) to the flood disasters in many parts of the country. Farouq also reported the activities of the Search and Rescue Team which has carried out operations in 199 Local Government Areas of 25 states. The activities of the Search and Rescue Team in disasters areas include evacuating endangered residents to safety and ensuring referrals to hospitals. According to her, food, materials to make temporary shelters, first-aid and other items and services have been delivered to support victims in the following states: Abia, Adamawa, Anambra, Bayelsa, Ekiti, Enugu, FCT, Imo, Jigawa, Kaduna, Kano, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Oyo, Sokoto, Taraba, and Yobe states. It’s significant that the minister also acknowledged the collaboration of local communities with the federal agencies. She put it as follows: “I commend local communities for their resilience. We received a report that in 144 LGAs, local communities worked together to provide the first response to their families and neighbors.” This trying

moment in the affected communities calls for a greater cooperation among tiers of governments, ministries and agencies in order to achieve the public purpose: safety and relief of people under the direct attacks of floods. In this respect, state and local governments should heed the minister’s call to play their respective roles in the execution of the National Flood Emergency Preparedness and Response Plan. However, it is unacceptable that in a moment of national emergency in which some states are virtually under water, federal government officials have not visited the affected states to demonstrate solidarity. The symbolism of such acts of empathy could be profound for the psychology of the victims. The emotional resonance of the President or a high-powered delegation representing him in Bayelsa State House would be felt in even communities cut off from other areas by the flood water. A period of emergency is not a time for a leisurely response from those who have the constitutional responsibility for the security and welfare of the people. Hajia Fraouq announced belatedly yesterday that a federal government delegation would visit some of the affected states next week. Such visits ought to have happened in Kogi, Benue, Jigawa, Taraba and other states some days ago. Well, it’s better late than never, as they say. The implications of flooding for food security and public health should further a compel a synergy of purpose among the three tiers of government. This is another policy challenge. Flood disasters should not cause other disasters - famine, epidemics and massive displacement of persons. The handling of the emergency so far shows that the socio-economic dimensions of floods ought to be properly examined in formulating policies in response to the problem. Preventing the ecological disaster from turning into a humanitarian catastrophe is a task for governments at all levels, private organisations, public-spirited individuals and friends of Nigeria. A lot of resources would be needed to give succour to thousands of the physically injured and the socially dislocated. In addition, as the humanitarian affairs minister said, other ministries and agencies are expected to brief the public on the federal government’s response to this national emergency. These ministries include those of environment, water resources, health,

It is important to stress that politics should not becloud the humanitarian consequences of the ﬂoods

agriculture and housing works and housing. In particular, the ministry of environment ought to be conspicuous in the response to what is essentially an ecological crisis. To start with, floods have been globally acknowledged as a consequence of climate change. The ministry should be more active in the mobilisation of people to the reality of climate change. Yes, climate change is a global problem; but every nation tackles the problem with its own policy options. This year’s disaster in which hundreds of lives have been lost is another poignant reminder that the formulated policies should be duly implemented and ideas should be harvested for the formulation of fresh programmes in view of the dynamics of climate change. The first thing to do is to listen to the science of climate change. The federal ministry of environment should take the lead in developing the national culture of approaching climate change on a scientific basis. This is basic for preparing the people for ecological emergencies such as flood disasters. Scientists have explained that climate change could manifest in different ways. These include changes in rainfall patterns, variations in sea levels, rise in global temperatures and melting of the ice sheets. The factors responsible for the climate disorder are also matters of global debates among scientists. What is important for a country such as Nigeria is not to be left behind in the race to get prepared for what is to come in the ecological realm. This is because the mere fact that the underdeveloped parts of the world are not major contributors to climate change is no excuse to be complacent in solving th problem. As the flooding of the poor Nigerian communities have shown, nature doesn’t excuse those who contribute little or nothing to climate change from the environmental repercussions. The coordination of efforts at public education on this global phenomenon is the duty of the environment ministry. For instance, Nigeria should provide a leading voice in Africa in the campaign for the compensation to poor countries who have contributed little or nothing to the climate change but which now suffer from it like the industrialised world. That is why the science of the environmental problem should be considered along with its politics and economics. Indeed, the various dimension of the problems are inseparable. It is important to stress that politics should not becloud the humanitarian consequences of the floods Flooding of 33 states this year should be a sufficient warning that governments at levels should invest more in flood defence. Flood-prone areas should be prepared to be more resilient in the face of emergency. Temporary shelters with basic needs should be provided for those who would need to be evacuated from low-lying areas. There are global predictions that more flooding will occur in the immediate future. This year’s flooding should, therefore, be taken as a sufficient warning that flood-prone areas should be fortified to prevent worse disasters in the future.

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