WEDNESDAY 30TH OCTOBER 2024

In 30-minute Phone Call, Tinubu, Biden Seek to Deepen Partnership in US, Nigeria

Relations

Onaiyekan: To Fix Nigeria's Challenges, Northern Elite Must Fix Region’s Problems

spoke yesterday in Abuja when the League of Northern Democrats (LND), led

With Naira-for-Crude, Tinubu Promises More Stability

Dangote: Our refinery has over 500m litres of fuel in reserve Again, national oil company raises pump price of petrol

Deji Elumoye and Emmanuel Addeh in Abuja

President Bola Tinubu yesterday said with the current Naira-based sale of crude oil and refined products, there will be some level of stability in the downstream sector.

Tinubu, who spoke during a review meeting of the technical committee on implementation of the new arrangement at State House, Abuja, urged members of the committee to resolve any teething problems.

He said the naira transactions were conceived to remove the exchange rate hurdle, stressing that his administration is determined to do away with decisions that are not progressive. The president stated, “Whatever solution we proffer in crude oil and refined products sales in Naira should not take us back to our experience in the last 40 years. There can be cost and revenue

TINUBU GETS BRIEFING SALE OF CRUDE OIL TO LOCAL REFINERS...

L -R: Chief Executive, Nigeria Upstream Petroluem Regulatory Commission,Gbeinga Komolafe ; President Dangote Group of Company, Alhaji Aliko Dangote; President Bola Ahmed Tinubu; President, Africa Export, Import Bank (Afrexim bank) Professor Benedict Oramah and Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, behind Mr Edun to the (left), is Peter Olowononi of Afrexim Bank and behind Mr Oramah, is the Chief of Staff to the President, Mr Femi Gbajabiamila during the briefing from Implementation Committee of Crude Oil and Refined Products Sales in Local Currency held at the Presidential Villa, Abuja...yesterday

GODWIN OMOIGUI

GUARANTY TRUST HOLDING COMPANY PLC

The Board of Directors of Guaranty Trust Holding Company Plc

Cardoso: Nigeria Ready to Use All Tools to Manage Inflation

James Emejo in Abuja

The Nigeria Export Processing Zone Authority (NEPZA) and operators of the country’s Free Trade Zones (FTZs) have called on the Central Bank of Nigeria (CBN) to quicken the process for granting approval for the operation of offshore banking across the zones to further aid the ease of doing business among others.

They told THISDAY that the offshore banking model, which is popular in other parts of the world, will help resolve current difficulties their businesses face in accessing foreign exchange in the country.

Specifically, they said the initiative

adjustment in the oil sector, but the issue is that the government will not have to go back to the old way of doing things."

Tinubu said the various players in the oil sector, including the Nigerian National Petroleum Corporation Limited (NNPC) and Dangote refinery, should work to improve the economy and the livelihoods of Nigerians.

He urged stakeholders to look inward and consider supplying enough petrol and petroleum products for local consumption to stop the persistent reliance on importation. He said this would enable the channelling of foreign exchange to development of the real sector.

The president advised stakeholders to partner Afreximbank as a settlement bank to resolve the naira pricing for crude and refined products.

Afreximbank is already on board as the financial adviser.

He added, “The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government side can meet on the worksheet. I want the issues resolved without future waste of time.

“We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated. It will be more predictable on a medium and long-term basis.”

Earlier, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the administration's ground-breaking steps to sell crude in Naira will not be reversed. Edun said the government will not be involved in determining the rate of exchange for the oil sector.

President and Chief Executive of Dangote Group, Aliko Dangote, told the president that his refinery had more than 500 million litres of fuel in reserve after supplying 400 million

would further ease pressure of the Naira.

The stakeholders in the FTZs also maintained that offshore banking would provide businesses with a more stable financial environment to thrive.

They made their desires known when NEPZA embarked on a media tour to some of the zones in Lagos, with a view to ascertaining their state of operation, providing visibility and their challenges as well as allow journalists to assess the level of investments in the zones.

Speaking during a visit to the Lagos Free Zone (LFZ), the Zone Administrator, NEPZA, Mr. Garba

litres to the domestic market.

Dangote said the refinery could collaborate with the other refineries managed by NNPC to meet an estimated 32 million litres of local petrol needs.

At the meeting, Chairman of Federal Inland Revenue Service (FIRS), Zach Adedeji, who chairs the technical committee, said importing refined products should end once Nigeria developed the capacity to produce enough to meet domestic need.

“The vision of Mr President is to turn Nigeria into a hub for refined products to export to the world," Adedeji explained.

Other stakeholders at the meeting included President and Chairman of the Board of AfreximBank, Professor Benedict Oramah; Minister of Budget and National Planning, Senator Abubakar Bagudu; and Group Managing Director of NNPC, Mele Kyari.

Special Adviser to the President on Energy, Olu Verheijen, and chief executives of the Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Ports Authority (NPA) also attended the meeting, along with the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, and Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.

Speaking with newsmen after the meeting, Dangote urged NNPC and other petroleum marketers to desist from importation of Premium Motor Spirit (PMS), otherwise known as petrol.

According to him, Dangote refinery currently has over 500 million litres of petrol stocked up in its tanks, awaiting evacuation by buyers. He said the stock, given the rate of current local fuel consumption, can last the country 12 days even with zero importation.

Hayatu, called on the central bank to address grey areas that had slow down the process of approving the take-off of offshore banking to attract more investments and boost the development of the zones.

Hayatu said, “Currently, Free Zones in Nigeria cannot access forex directly from the Central Bank of Nigeria. Offshore banking can solve this problem.

“Operators in the Free Zone are often affected by currency volatility, and the inability to access dollars directly adds to their challenges.

“Offshore banking would provide businesses with a more stable financial environment.”

On why petrol scarcity had persisted despite his boast of huge stranded product stock, Dangote said his company was not involved in retailing and could, therefore, not do much to help in that regard.

He urged retailers to come forward and buy the available product rather than resort to importation. He also expressed his company's capacity and readiness to continue to satisfy local demand for fuel as long as NNPC fulfilled its obligation of selling crude to them.

Addressing concerns over fuel scarcity in several parts of the country, Dangote said, “Well, on the streets, one thing that you have to understand is that we are producers. I have a refinery. I'm not in the business of retail. If I'm in the business of retail, then you hold me responsible.

“But what I'm saying is that the retailers should, please, come forward and pick. If they don't come forward and pick, what do you want me to do? There’s nothing that I can do.

“So I am expecting either NNPC or the marketers to stop importing; they should come and pick because we have what they need. And you know, as they move, I will be pumping.

"I don't know whether you understand what it takes to have half a billion litres of petrol inside our tank. It's costing me money every day. If I will be able to collect the naira, I can actually charge somebody 32 per cent in interest. So right now, that's what I'm losing.

“And you are talking about 500 million litres. We don't print money. But the issue is that if they come and collect, then you will not see any queues in the filling stations."

Dangote flayed the continued importation of petrol, saying his refinery is capable of supplying the Nigerian market 30 million litres.

"I'm also putting my own name on the line by giving Mr President my word that, yes, we will be able to supply the market minimum 30

initiative will ease pressure on Naira

He pointed out that there had been ongoing discussions with CBN, and hoped the knotty issues would be resolved as soon as possible, adding that its actualisation would mean a “major win for free zone operators”.

Similarly, operators of the Lekki Free Zone Development Company (LFZDC), said currency fluctuation had made it harder for Nigerian investors to buy land for investment as the former is priced in dollars.

Deputy Manageing Director of LFZDC, Mrs. Bolatilo Ajibode, while also supporting the operation of offshore banking in the zones, said, “With the current exchange rate, it's tough for many”, adding however,

million per day, and we'll be ramping up. So we're ready. We're more than ready."

He assured that with enough supply of crude, his refinery had the capacity to produce more than 30 million litres per day.

Dangote further disclosed that the meeting was successful with assurance of enough Naira to crude to satisfy the market and strengthen the initiative.

He stated, "I think we've had a very, very good meeting, where now, yes, we will use a market determined exchange rate and also the crude price. With that, Mr. President also directed that, yes, NNPC will buy.

“Marketers will also buy. They will be buying just like any other, that is NNPC retail at the end of the day, we have also Afreximbank, which I think they are now going to be the in-between."

Briefing newsmen, also, Edun shared insights from the meeting with Tinubu regarding the implementation of the initiative to sell crude oil to local refiners in Naira.

He said the initiative received full endorsement from the Federal Executive Council (FEC), with the aim of stabilising the petroleum market and enhancing local production capabilities.

Edun stated, “We had a session with Mr. President to review the implementation of this bold initiative. It allows local refiners to purchase crude oil and sell their products in Naira to the Nigerian public.”

He applauded Dangote Group's substantial investment in a refinery with the capacity of 650,000 barrels per day as a key enabler of the initiative.

Edun emphasised that the implementation committee had been working diligently with various stakeholders, including regulatory bodies, such as NMDPRA and NNPC, to ensure the initiative's success.

He said, “What we have achieved

IN 30-MINUTE PHONE CALL, TINUBU, BIDEN SEEK TO DEEPEN PARTNERSHIP IN US, NIGERIA RELATIONS

Crimes Compliance at Binance, Tigran Gambaryan.

Gambaryan, a US citizen, was arrested last February while on a business trip to Nigeria and later charged alongside his company, Binance, with laundering $35.4 million, and tax evasion, which they denied. This was sequel to the escape from custody of his colleague, Nadeem Anjarwalla, a British-Kenyan dual national who was Binance’s Africa regional manager, and had been arrested alongside Gambaryan.

But the Economic and Financial Crimes Commission (EFCC) last week announced in court in Abuja that it had withdrawn the money laundering charges against Gambaryan to allow him to get medical treatment outside the country.

In a move to express gratitude

on the development and a number of other matters of mutual interest, Biden called Tinubu at about 4pm yesterday during which the duo had a telephone conversation, which lasted about 30 m Tuggar told journalists.

According to Tuggar, Biden expressed support for Nigeria's quest to get a permanent seat status on the United Nations Security Council, especially with the country's leadership roles in Africa and peace-keeping efforts and sacrifices across the globe.

He said: "The call was about the collaboration between the two countries with regards to law enforcement and law enforcement agencies as well as the release of one of the suspects of the crypto currency exchange company that you are all aware of.

"In response, President Tinubu

also thanked him and the US for the partnership and collaboration in numerous areas, and also discussed the issue of collaboration with regards to security in Africa, particularly in West Africa.

"President Biden equally assured that this is a partnership that will continue and he stated, as a matter of fact, not more than just once, but at least twice, that the future of the world resides in Africa, which is why it was important for this partnership to continue.

"The two leaders also discussed the issue of the permanent seats in the United Nations Security Council, and President Biden once again assured that the United States is committed to seeing Africa having two permanent seats and also reiterated that he does not see any reason why one of those seats should not belong to Nigeria, given

that “we have flexible payment options to ease the burden”.

THISDAY further gathered that the notion of offshore banking has increasingly gained popularity among the economic zones operators because of its ability to simplify banking transactions and increase access to foreign currency to facilitate business operations.

Often established in financial hubs or jurisdictions with favourable regulatory, tax, and privacy laws, offshore banks offer various benefits including asset protection, currency diversification, tax efficiency, and confidentiality.

FTZs are designated areas

is the establishment of market pricing for petroleum products. This, coupled with market pricing for foreign exchange, sets our economy on a path toward industrialisation.”

Edun highlighted the broader economic implications of the initiative, stating that it would provide essential raw materials, not only for agriculture, but also for industries, such as chemicals, textiles, and building materials.

“This is part of Mr. President's strategy to create favourable conditions for private sector investment, job creation, and economic growth,” he explained.

Meanwhile, for the umpteenth time yesterday, NNPC raised the

with favourable trade regulations aimed at promoting international trade, manufacturing, and foreign investment, and offshore banking model remains critical in the zones to boost ease of international transactions, enhance access to financing and investment as well as provide a secure place to hold assets, protecting them from domestic financial risks or regulatory actions.

pump price of petrol, especially in Lagos and Abuja.

It was the third price hike in less than two months, as the pump price in Lagos rose from N998 per litre to N1,025 and in Abuja from N1,030 to N1,060 per litre.

Outlets in Lagos and Abuja immediately effected the increase, as Nigerians faced the harsh effect of the removal of subsidy and the operation of a fully deregulated downstream environment.

Amid the increase yesterday, fuel queues persisted in Abuja, as the NNPC mega filling station in Zone 1 was besieged by motorists, while many private filling stations sold for over N1,200 per litre.

ONAIYEKAN: TO FIX NIGERIA'S CHALLENGES, NORTHERN ELITE MUST FIX REGION’S PROBLEMS

LND for championing a northern renaissance, challenged them to inquire why there was too much poverty and insecurity in the northern states, when compared to the south of Nigeria.

He stated, Let’s face it, if the north does not move well, Nigeria cannot move well. It’s the same discourse. If Nigeria does move well, Africa cannot move well.”

According to him, “I think we must face the reality that the way northern Nigeria is today is not what we can be proud of. All the various indices of good governance and standard of living, we have a very poor record. If Nigeria is poor, the epicentre of the poor is the north.

“And when there is a league of northern democrats, who are interested in addressing the issues and finding out, why is it that things are not moving as they should, I think things will move because a league of elite northern democrats should be able to engage those who call themselves political leaders, especially as some of you have had good experience in government.

its position in Africa, its stature and importance", Tuggar further said.

THISDAY further gathered that Biden in the course of his telephone conversation with President Tinubu offered his condolences on the recent flooding that has impacted the north-eastern part of Nigeria.

The two leaders also spoke about the value of the US-Nigeria partnership in addressing global challenges and advancing security and prosperity across multiple sectors.

In particular, Biden expressed appreciation for cooperation on law enforcement, including through the recently announced Bilateral Liaison Group on Illicit Finance and Cryptocurrencies, for collaboration on new and innovative technologies, and on shared interests in reforming international organisations to reflect African voices.

“So, you can tell them, listen, look around you, are you proud of what you see? Out-of-school children all over the place, and it is not an excuse to say we are poor because if we continue about being poor, the issue will remain.

“We are in a federal government and federal resources are being distributed, so what has happened.”

Onaiyekan added, “There is no room for one section of the country to be lagging behind. What it does mean is that the entire nation should be interested in what you people are doing. If for no other reason but for what they normally call enlightened self-interest.”

He stressed the need for all regions of the country to move together, adding that his doors are open to leaders from other parts of the country who share

the same interest of ensuring good governance.

The cardinal said the country needed many leagues of democrats to improve the quality of governance. He stated, “Your initiatives of coming together to form the league of northern democrats for the purpose of trying to reinvent the north is a welcome development. I support what you are doing.

“Go further, ask questions, because when you reinvent the north, you are on the sure positive way to reinvent Nigeria. When you reinvent Nigeria, Africa would reinvent itself. We are the largest black nation in world.”

Onayekan called for harmonious relationship between Christians and Muslims in the north. He said a peaceful relationship between Christians and Muslims was another sure way to build a stable and united northern Nigeria.

The Catholic cardinal went down memory lane to discuss how the Nigerian inter-religious council was formed during the administration of former President Olusegun Obasanjo. He said though the expected goal of complete religious harmony was yet to be desired, with time Nigeria would realise the goal.

Earlier, Shekarau told Onaiyekan that the visit was to acquaint him with the group’s plans to reinvent the north from poverty and the challenge of insecurity by engaging leaders from the region.

Shekarau, who was a two-time governor of Kano State, told the Catholic cardinal that his group was not partisan, but was worried about the level of poverty and insecurity in the northern states.

The former governor stated, “We are an apolitical group, who are worried with the level of economic, security developments in the 19 northern states. We have members from all political parties. Our mission and goals are to reinvent the north from its present economic situation.”

Cardoso

REBRANDING OF NIGERIAN OBSERVER...

during the

Rebranded Observer Newspapers: We are Building on Achievements of Founding Fathers, Says Obaseki

Inducts Nduka Obaigbena, Momoh, Iredia, Aigbogun, others into Observer Newspapers Hall of Fame

Adibe Emenyonu in Benin City

The founder of THISDAY Newspapers and Arise TV, Nduka Obaigbena; founder of Channels TV, John Momoh; and founder of BusinessDay Newspaper, Frank Aigbogun, were among seven veteran journalists inducted into The Nigerian Observer Hall of Fame on Tuesday, as Governor Godwin Obaseki of Edo State commissioned The Nigerian Observer’s new office building and Edo Printing Centre in Benin City, the Edo State capital.

Others were Tony Iredia, Sunny Irabor, Nosa Igiebor, and Ebenezer Abiodun Aloba, a founding staff of the Nigerian Observer.

They were inducted in recognition of their outstanding contributions to the development of the country's media industry.

An elated Obaseki said the rebirth and relaunch of the state’s newspaper, the Nigerian Observer, was a testament

to his government’s vision to make Edo State a formidable media hub.

Obaseki stated, “I welcome you to the commissioning of the rebranded and rebuilt Edo Press Centre. What we have tried to do here is to upgrade the premises where the Nigerian Observer was birthed 60 years ago to now become a media centre in Benin City.

“The vision of our founding fathers, including General Samuel Ogbemudia, 55 years ago brought about, perhaps, one of the most advanced printing and media houses in Nigeria to be set up in Edo State.

“When we came into this premises to work on this press centre, the quality of the printing machines we saw here were top at that time. This shows the vision of our leaders, as we are building on the back of people who ruled the state before we came in.”

He added, “The commissioning of this edifice is a testament to how far we have come as a people and also signals as a sign post of our vision to make

Edo State a formidable media hub.

“The media business in Nigeria today is largely dominated by Edo people and it's not a coincidence as you can see from the award of the Observer Hall of Fame given here today.

“The Nigerian Observer is a nurturing ground. Alongside this new building, we have established the Edo press centre, which is equipped with the state-of-the-art facilities for all printing and publishing needs. We have done this to diversify the risk in the newspaper business and hope that with the state-of-the-art facilities here, it will augment revenue here at the Observer.”

Obaseki further stated, “We have maximised the use of this space by also locating the Sir Victor Uwaifo Creative Hub, which offers opportunities to the state's creative economy and enhances the talent of the young population.

“All of these activities, the press centre, the publishing house, and the

creative hub were all crafted from the old premises of the Nigerian Observer, which published the Bendel Stateowned newspaper in 1968.

“Some of the notable journalists we have hosted today came from the stable of the Nigerian Observer Newspaper after surviving several shutdowns due to economic and political reasons and today, the newspaper continues publication.

“Looking back at the newspapers set up at the time, the Observer Newspaper is, perhaps, one of the few newspapers that may be surviving while others have gone into extinction.

“We are here for a simple ceremony. First to commission the Nigerian Observer building, which now houses the newspaper, and also the printing presses (three printing presses) with state-of-the-art facilities, which we believe will be very viable, as these facilities are not common in this part of the world. We hope that it will provide jobs and expertise in the

ECOWAS/ECOBANK Empower

400 Women Traders in Nigeria

Michael Olugbode in Abuja

The Economic Community of West African States (ECOWAS) has begun an empowerment programme for women traders in Nigeria as part of its efforts towards bridging the gap of the female gender to access finance towards building their businesses in the country.

The programme which is in association with the ECOBANK PLC is to train 400 women traders in its pilot scheme for six months on rudimentary business skills and financing, with an eye to extend it to more women in Nigeria and other 15 ECOWAS member countries.

It also includes mentorship of the women in viable business.

Speaking at the opening ceremony of the empowerment programme, ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs. Massandjé Toure-Litse, stressed the imperative of empowering women,

insisting that it is essential for the country's economic development and growth.

She pointed out that empowering the women is one sure way of ending poverty and building peace in the sub-region.

She said: “So it's a pleasure today to launch this important programme. In the first tranche, we will be training about 300 or 400 women, and we are planning to expand. Our objective is to go larger and bigger, and we will, as I said, expand to other 15 ECOWS countries.

"We are starting as a pilot project and it is a way of implementing lots of initiatives, targeted at women empowerment.

"It's a way of building bridges across the West African region in terms of empowerment, preparing them for the gains of the African Continental Free Trade Area.”

The ECOWAS Commissioner stressed the need to build their

capacities, saying, “we intend the programme to train them properly in terms of business management, and to be able to participate fully within inter-regional trade or external trade. So, this, like I mentioned, is one of the critical stages in terms of empowering the women.

The commissioner said: "I'm sure you know the role, that women play in terms of nation-building, in terms of peace-building, in terms of economic development. This is just a part of it."

On her part, Mrs. Nonye Ayeni, Executive Director/CEO. Nigeria Export Promotion Council (NEPC), challenged the women traders to be ambitious in their outlook.

Ayeni said they must dream big and stop being docile as they have a role to play in shaping the country's prosperity, while commending the programme for aligning with President Bola Tinubu renewed hope agenda.

She said: "I think, this event is another laudable initiative by

ECOWAS Commission, particularly to empower women and build their capacity, not just to be socially empowered, but economically empowered.

“And I think it aligns with our own mandate and in the council in recognition of this, we are working with women to build their capacity and this will lead to sustainable and inclusive economic development where we empower women to be the best they can be.

"Like you heard me say that if you empower a woman, you empower the whole community and the best man for the job is a woman because women are resilient, dogged and they can multiply.

"And as you're training them, empowering them, you are empowering the whole nation. So, this aligns with even what the government is doing in terms of the renewal of agenda of Mr. President.

printing industry to lots of young Edo people.”

Obaseki also stated, “The revamp exercise kicked off in 2022 after COVID-19, which involved the construction of new work spaces, facilities for printing, and a complete redesign of the Observer newspaper.

We are very aware that technology today plays a very vital role in the newspaper industry.

“Before the press was completed, we launched the online version of the Nigerian Observer and every day the online version is published. I encourage all of us present to take advantage of the newspaper as it gives you all the information about the state.

“I also want to let the printing industry in the south region know that we have a GOSS printing machine in Edo State and it can print books

and newspapers. We also have a speed printing machine.”

Speaking on the "Chronicle of the Nigerian Observer as of Today," the Commissioner for Communication and Orientation, Chris Nehikhare, said the Nigerian Observer newspaper was birthed on May 29, 1968, with copies of the newspaper appearing on newsstands across Nigeria. Going down memory lane, Nehikhare said the Nigerian Observer could be seen as one of the legacy projects of late Ogbemudia, the former military governor of Midwest State and Bendel State. He said it was a response to the genuine demands of a people who increasingly began to feel that they needed some outlet for the articulation of their own ideals with emphasis to inform, educate and entertain.

Oyetola: FG Signed Cargo Tracking Agreement in Error

Adedayo Akinwale in Abuja

The Minister of Blue and Marine Economy, Gboyega Oyetola has revealed that multi-billion-dollar cargo tracking agreement entered into by the federal government regarding the International Cargo Tracking Notes (ICTN) was faulty.

Oyetola disclosed this on Tuesday in Abuja while answering questions from a House of Representatives Committee on Shipping Exercises, Customs, Port and Harbour, and Maritime Safety, Education, and Administration probing delay in implementing the cargo tracking project, which experts say is costing the country $500 million monthly.

In March 2023, the administration of former President Muhammadu Buhari engaged a consortium led by Antaser Nigeria Limited to implement a cargo tracking system for all imports and exports, including crude oil exports.

However, in July, the Minister of State for Petroleum, Heineken Lokpobiri, awarded a contract to procure advanced solution technology for the Nigerian oil and gas sector.

However, Oyetola, who was represented by Babatunde Sule, a director in the Ministry of Blue and Marine Economy, justified the delay by stating that the process approved by

the Federal Executive Council (FEC) was flawed.

Sule, who had initially acknowledged the project’s approval by the FEC, later claimed it was done in error.

His words: “I am aware of the contract. I am also aware that it was given to five companies. I learned that four of the companies signed an agreement, with the fifth not signing, and I think that was what stalled this whole process.

“The process was even faulty ab initio. The process that led to this was wrong,” he said, as the lawmakers jeered at his comments. The process could have been better than the way it was handled.”

A member of the committee, Hon. Kabir Maipalace, who alongside other lawmakers were unimpressed by Sule’s responses, with some questioning his capacity to represent the minister adequately.

He said: “I don’t think you are capable enough to represent the minister; you don’t even have any information about the issue. The ministry is not serious. The minister did not show up, the permanent secretary did not show up, and you who are here do not have first-hand information.

Edo State Commissioner for Communication and Orientation, Hon. Chris Osa Nehikhare; Governor Godwin Obaseki, and former governor of Edo State, Chief Lucky Igbinedion,

inauguration of the rebranded Nigerian Observer Newspaper in Benin City, Edo State…recently

CRUDE SUPPLY ON THEIR MINDS...

L-R: Minister of Finance and Coordinating Minister of the Economy, Wale Edun; President/Chief Executive of the Dangote Group, Aliko Dangote; and

TCN Targets Sunday to Restore Power to North, Says Insecurity Hindering Efforts

Emmanuel Addeh in Abuja

The Transmission Company of Nigeria (TCN) yesterday disclosed that it would by next Sunday restore regular electricity supply to majority of parts of the north impacted by the ongoing blackout in the region.

Speaking during a press briefing in Abuja, the Chief Executive of TCN, Sule Abdulaziz, stated that although the company was doing its best to restore bulk power to the region, bandits in the area had thwarted the efforts.

Abdulaziz stated that Shiroro Mando 330kv line 1 tripped on September 9, 2024, wherein patrol of safe area was done, but that the faulty section could not be reached due to insecurity.

BPE Renews Efforts to Boost Service Delivery, Uphold Mandate

The Bureau of Public Enterprises (BPE) yesterday renewed efforts to uphold its mandate, bolster service delivery and sustain its core values of Integrity-Transparency, Professionalism, Accountability, Result-Orientation and Teamwork (I-PART), which are aligned with the goals of SERVICOM.

BPE Director General, Mr. Ayodeji Gbeleyi lent credence to the renewed efforts by the privatisation agency to contribute meaningfully to national growth and development at the BPE Servicom Day symposium in Abuja, with the theme

"Impact of Attitudinal and Behavioural Ethics in the Workplace.”

In his opening remarks at the event which drew participants from the agency as well as other federal government agencies, Gbeleyi noted that in today’s dynamic business environment, attitudinal and behavioural ethics in the workplace play a pivotal role in shaping organisational culture, driving employee engagement, and fostering trust among stakeholders.

These ethics, he added, help to create a positive and productive work environment.

"If we are to achieve success in our various endeavours and contribute meaningfully to national growth and development, there is no better time to discuss a topic of this nature than today. "The impact of these ethics can be far-reaching, influencing employee behaviour, organisational culture and overall service excellence," Gbeleyi said.

Noting that the official theme for the 2024 SERVICOM Customer Service Week is “Above and Beyond,” he stated that the theme highlights the importance of frontline service providers, emphasises team spirit within the workforce, underscores its positive impact on the BPE, and more importantly, raises awareness of the value of excellent customer service in the agency's operations.

"Therefore, if we are to meet and exceed expectations and fully align with Mr. President’s Renewed Hope Agenda, our achievements must indeed go “Above and Beyond the common level of service," he said.

He expressed BPE's commitment to delivering on its mandate, and a pledge to uphold its core values of Integrity-Transparency, Professionalism, Accountability, Result-Orientation and Teamwork (I-PART)), which are aligned with the goals of SERVICOM.

According to him, the prominence of the SERVICOM Unit in driving the BPE's service delivery initiatives cannot be over-emphasised, as reflected in its various activities, including periodic use of surveys to assess customer satisfaction with services rendered by the Bureau; regular scrutiny and review of its internal processes to identify areas for improvement; and consistent implementation of Service Charter, among others.

Speaking at the symposium, the National Coordinator of SERVICOM, Mrs. Nnenna Akajiemeli.

He explained that efforts were made by using local vigilante who confirmed snap conductor on a tower but they could not identify the tower number.

“Arrangements were made to use the local group to escort our engineers in the night to effect repairs in order to evade the bandits in the location. Unfortunately, we did not succeed because the bandits got wind of our intentions and laid siege to the area.

“Minimum supply was maintained to the North-West corridor through the second circuit until 13th October, 2024 when the second line tripped and failed to stay on trial re-closure.

“Local vigilantes were again engaged to comb the area but could only access part of the safe area. Hence, TCN solicited the support

of the Nigeria Air force, Kaduna for unmanned aerial surveillance on 17th October 2024 and the impacted towers were identified. They were four in number with three totally collapsed and one number twisted,” he stated.

Besides, he stated that the vandalism of Ugwuaji-Apir 330kV lines was reported on October 21, 2024 causing tripping of the lines as trial re-closure failed and patrol revealed damaged conductors due to vandalism.

According to him, this compounded the transmission of bulk power to the Northern corridor as the lines serve as link between Northern and Southern area. This outage, he said, severely affected the wheeling capacity of TCN.

“The area affected has been secured

with help of Nigerian Army and concerted effort is ongoing on one of the lines for restoration. Restoration of one of these lines will allow TCN to wheel about 400MW of power in that corridor.

“Also TCN is intensifying efforts to repair and restore the second line on Ugwuaji-Apir on or by Sunday 3rd November, 2024. This will avail TCN to wheel substantial quantum of power through Apir to Jos to Kaduna to Kano.

“TCN is working with the Office of the National Security Adviser (ONSA) for security of personnel and site on Shiroro Mando 330kV SC lines for commencement of rehabilitation of impacted towers in this axis,” Abdulaziz stated.

Also, Minister of Power, Chief Adebayo Adelabu, who joined the

meeting sought stiffer penalties for vandals, insisting that there must be an enactment of a legislation to make vandalism of electricity transmission installations a capital offence. He urged members of the National Assembly to speedily pass the bill seeking to criminalise the act.

“There must be stiffer penalties. There has to be stiffer penalties, you said capital punishment, yes, maybe. It may not just be one month, two months or such fines. Those are too petty,” he added.

Adelabu also called for a ban of sale of scrap metals in the country, noting the buying and selling of the scraps was partly responsible for the destruction of electricity assets, adding that criminalising the act will reduce the attack on power infrastructure.

Service Disruption: FCCPC Warns Banks Against Violation of Customers’ Right

James Emejo in Abuja

The Federal Competition and Consumer Protection Commission (FCCPC), yesterday expressed deep concerns over the continuing disruptions in online banking services across in the country.

The Executive Vice Chairman/ Chief Executive of the commission, Mr. Tunji Bello, stressed that the disruptions, which have hindered customers from accessing their funds, making payments, and carrying out essential transactions, have negatively impacted millions, with serious implications for individuals and businesses alike.

In a statement, he said the commission is currently reviewing the situation to determine if consumers' rights to redress are being upheld and if more action is needed to enforce accountability.

Bello pointed out that under the Federal Competition and Consumer Protection Act (FCCPA) 2018, bank customers have specific rights to

guarantee fair and accountable service delivery.

According to him, a key provision is the right to quality service, which mandates that all service providers, including banks, maintain acceptable levels of functionality and reliability.

Bello emphasised that when banks cannot maintain access to essential financial services, they are arguably failing to meet the standard, potentially leading to significant financial hardship, loss of trust in the banking system, and damage to the overall economy.

He said the commission is actively working with relevant regulatory authorities, financial institutions, and stakeholders to address these disruptions and ensure the protection of customers.

He said, “The commission will pursue all necessary actions to ensure the protections of the FCCPA are upheld.

“The commission assures affected bank customers that their concerns are being taken seriously. We urge

banks and financial institutions to take swift action to restore services, prioritise customer support, and enhance communication to manage customer expectations transparently and responsibly.”

According to the FCCPC boss, the FCCPA further grants consumers the right to reasonable access to goods and services—a principle that is compromised when technical failures impede customers’ access to their own funds.

He said, “At a time when Nigeria’s economy is increasingly cashless, online banking is no longer a mere convenience but a necessity. Interruptions that impede consumers from engaging in transactions or accessing essential funds are not only an inconvenience, but they may also be a violation of this right.”

He further stated that the Act allows consumers to seek redress for services that do not meet the necessary standards, adding that bank customers can seek redress,

if they are adversely affected by substandard services.

He said, “Service providers are required by the FCCPA to be transparent and communicate with customers in an open and accurate manner.

“During service disruption, it is essential that banks keep their customers fully informed about the causes, scope, and anticipated duration of any service issues.

“Regrettably, many consumers are left in the dark, a situation that increases frustration and leaves customers feeling unsupported.”

He stressed that consumers have the option to reach out to the FCCPC to report complaints.

“We are committed to safeguarding the rights of Nigerian consumers and making certain that every service provider adheres to the statutory mandates provided in the FCCPA 2018. We thank the public for their patience and understanding as we work to end this hardship,” he said.

Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, after their meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja ... yesterday

GODWIN OMOIGUI

IDRIS VISITS ONANUGA...

Senate Passes NDIC Bill to Safeguard Bank

Depositors’ Funds, Stabilise Financial Institutions

Consolidates board members’ appointment

Sunday Aborisade in Abuja

The senate on Tuesday passed for third and final reading a bill meant to strengthen the capacity of the Nigeria Deposit Insurance Corporation (NDIC) to safeguard bank depositors’ funds, ensure the stability of financial institutions, and promote trust in the banking system.

The legislation, titled, “Nigeria Deposit Insurance Corporation Act No 33 of 2023,” was sponsored by Senator Adetokunbo Abiru (Lagos East) and all the members of the Senate Committee on Banking, Insurance and other Financial Institutions.

Abiru presented the report of the panel at plenary on Tuesday. He said the bill would also make NDIC more effective, safeguard its independence and autonomy, and align it with current realities and best practices.

The bill consolidated the power of the president to appoint the chairman and members of the board of NDIC, while the Central Bank of Nigeria (CBN), which hitherto recommended the appointees, would

now concentrate on supervising the corporation.

Based on the new amendment of its Act, the NDIC would focus on the scrutiny of the banks.

Abiru stated that despite the fact that the NDIC 2023 Act made substantial improvements to the 2006 Act, its implementation had been fraught with debate.

He said stakeholders had consistently engaged in series of appeals on the need for an amendment of the Act to address issues that had been raised concerning it.

According to the senator, “The Nigerian Deposit Insurance Corporation (Amendment) Bill, 2024, is, thus, a critical piece of legislation aimed at strengthening the Nigerian financial system.

“The proposed amendments will enhance the NDIC’s capacity to safeguard depositors, ensure the stability of financial institutions, and promote trust in the banking system.

“Given the rapidly evolving nature of the financial sector, this bill represents a timely response to the challenges and opportunities

that lie ahead.”

Abiru added that the current bill would lay to rest once and for all, the claims that the bill that was assented to by former President Muhammadu Buhari was materially different from what was passed by the ninth National Assembly.

He said, “To further empower the corporation by guaranteeing its independence in performing its statutory functions in line with Section 1 (3) of the principal Act.

“The principal (2023) Act curiously restricts the President’s power to appoint the Managing Director and Executive Directors and provides that they are to be persons recommended by the Central Bank of Nigeria governor.

“The (2024) bill (now) seeks to amend this provision to bring it in line with and in consonance with Mr. President’s power of appointment as enshrined in the Constitution of the Federal Republic of Nigeria 1999 (as amended).

“The provisions of the principal Act which makes the Permanent Secretary, Ministry of Finance the Chairman of the Board is also being

reviewed.

“This is because the workload and busy schedule of that office is such that makes such appointment untenable.

“The importance of the need for the Minister of Finance to constitute an Interim Management Committee for the Corporation within 30 days after the expiration or termination of the tenure of the board is also introduced in the bill.

“This is to forestall the recent situation where the Corporation faces challenges in its operations as a result of the absence of a board.”

Abiru said there was a general agreement among stakeholders on the importance of NDIC, as it was set up for the protection of depositors and to guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits, thereby helping to maintain financial system stability.

He said, “Considering the above, therefore, the general consensus among stakeholders was that it is important that the legal framework is reviewed.

Civil Society Group Kicks against Deployment of Tech to Suppress Freedoms, Invade Privacy

Spaces for Change (S4C) West Africa yesterday cautioned against the deployment of technology by governments to suppress civil freedoms as well as the invasion of citizens’ privacy.

In her opening remarks at the West Africa Civil Society Week 2024, organised by the organisation in Abuja, Executive Director, S4C, Victoria Ibezim-Ohaeri, stressed that while technology can be used for good, it’s also associated with certain risks.

At the event which was themed: “Leveraging Technology for Civic Engagement and Social Change in West Africa”, Ibezim-Ohaeri explained that the topic had never been more timely or critical.

“Today, we gather not only to reflect on the vast potential of digital technologies but to explore how these innovations can be harnessed to enhance public accountability, governance, and the protection of

civil liberties.

“Over the next two days, we will engage in key discussions on technology governance, artificial intelligence, electoral integrity, public sector accountability, regional mechanisms, media freedoms, youth activism and the critical intersections between these issues and the civic space in West Africa.

“Yet, as we embrace the promise of technological innovations, we must also remain conscious of their dual-use nature. While technology offers powerful tools for progress, it also presents significant risks, particularly when used to suppress civic freedoms, invade privacy, or stifle civic participation.

“At Spaces for Change, we have been committed to addressing these risks through research evidence and an array of digital rights initiatives, ensuring that civil society and human rights defenders are well-equipped to navigate and counter these challenges,” she added.

She noted the organisation published its first-ever research that extensively examined the types of surveillance technologies imported into Nigeria, mapping the supply chains, and the implications for human rights and the civic space in Nigeria.

The report, she said, provided ample evidence of the nature, scale and extent of importation of surveillance technologies going on in the country.

“We also documented how surveillance technologies imported for combating criminal threats have been used both positively as well as for other purposes unrelated to security.

“These include the arbitrary monitoring and surveillance of citizens and activists, tracking the activities of civic actors online, intercepting private communications, censoring online free speech and restricting the ability of citizens to speak, assemble and associate freely,” she added.

Separately, in a press statement by the organisation, it stated that colonial practices laid the foundation for the

current surveillance architecture, arguing that in pre-colonial Nigeria, colonialists used warrant chiefs in the 1920s for surveillance of local populations.

Military rule, the group argued, magnified the state’s appetite for surveillance and the encroachments on personal privacy.

“Countries like Israel, China and United States are top suppliers of the technologies imported and often arbitrarily used in Nigeria. Their most popular technologies diverted, misused or applied arbitrarily in Nigeria are C4i (Command, Control, Communications, Computers, and Intelligence).

“Also used are Hacking Team and FinFisher; Remote Control System (RCS); GSM Tracking System; Digivox, Distributed Denial of Service (DDoS) using Proxy Internet Protocol (IP) addresses and virtual private networks (VPN); International Mobile Subscriber Identity (IMSI) Catcher; Wise Intelligence Technology (WIT); biometricand Data,” the organisation said.

“This is to make the corporation more effective to discharge its functions, safeguard its independence and autonomy and to bring it in line with current realities and best practices.

“This is particularly because the corporation plays a vital role in safeguarding the interests of depositors and promoting confidence in the financial sector.

“The evolving challenges in

the global and domestic banking environments necessitate the amendment of the current law to keep pace with these developments and ensure the NDIC remains fit for purpose.”

Abiru said over 30 written memoranda and numerous oral submissions were received. All the written memoranda and oral presentations at the hearing supported the bill, he said.

Boeing Invites Keyamo to Airline Economic Conference in Dublin

Chinedu Eze

World's top aircraft manufacturer, the Boeing Company, has invited the Minister of Aviation and Aerospace Development, Festus Keyamo, to the forthcoming Airline Economics Conference holding in Dublin, Ireland, from January 12 through 15, 2025.

Keyamo would also use the opportunities of the conference to meet with leasing companies, thereby fostering the ministry’s plan to ensure successful dry leasing arrangement for Nigerian airlines.

The letter dated October 24, 2024, signed by Commercial Sales Director, Africa Sales, Boeing Commercial Airplanes, Moore Ibekwe, commended Keyamo for his work at the ministry.

The statement hinted that development under the minister’s leadership, to enhance the lives of Nigerians through an improved aviation industry was noticeable.

Boeing stated that following the minister’s visit to its facilities in the United States earlier in the year, the press coverage on the company’s activities had been remarkably positive, hoping to capitalise on the positive momentum in the spirit of the Memorandum of Understanding (MoU).

The letter emphasised that during the minister’s visit, one of the follow up items was to organise a forum during the Airline Economics Conference whereby both parties could leverage the relationships with leasing companies’ leadership for

the minister to meet them and update them personally on the strides that the Federal Government of Nigeria was undertaking to improve the aviation industry.

The letter added: “As we all agreed, in the presence of our Senior Vice President of Sales, it will be best if they heard from you firsthand. On our side, we are coordinating the efforts with lessors to firm up dates and timing for these meetings.

“We would like to keep the delegation small and focused on Nigerian airlines seriously considering leasing of aircraft in the next 24 months. It is important that the airlines we bring to the forefront are prepared, so that we can demonstrate real business opportunities to keep the attention of the lessors.”

Boeing further stated that it was also working with several banks in Nigeria and Africa Trade Investment Development Insurance (ATIDI) to develop a credit enhancement product specifically for Nigeria to facilitate operating leases.

The US-based company stated this would lead to the provision of an additional layer of security to global lessors who may have shown interest in the region.

Boeing, therefore, urged the minister to attend the conference with representatives from the Ministry of Aviation and Aerospace Development, Airline Operators of Nigeria (AON), Nigerian banks, lessors/financiers to chart a course for a new future for Nigerian aviation.

Emmanuel Addeh in Abuja

L-R: Tunde Rahman, Senior Special Assistant to the President on Media Matters; Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy; and Mallam Mohammed Idris, when the minister dropped by to visit Onanuga at the Presidential Villa, Abuja ...yesterday

CUSTOMER APPRECIATION COCKTAIL ORGANISED BY FUTUREVIEW GROUP...

BudgIT Report: States Increasingly Relying on Federal Allocations to Meet Operating Expenses

Revenues reached N8.66 trillion in 2023, personnel cost gulped N1.99

James Emejo in Abuja

All the 36 states of the federation managed to raise enough revenues, including Internally Generated Revenue (IGR), federal allocations, aid, and grants to fully cover their recurrent expenditures, a new report has affirmed.

According to the BudgIT 2024 State of States Report, with the theme, “Moving Healthcare Delivery from Suboptimal to Optimal,” which was launched yesterday in Abuja, only

Rivers and Lagos generated more than enough IGR to cover their operating expenses, with IGR to operating expense ratios of 121.26 per cent and 118.39 per cent, respectively.

Several other states, including Ogun, Anambra, Cross River, Kwara, Kaduna, and Edo managed to generate IGR sufficient to cover at least 50 per cent of their operating costs, with the rest relying on federal transfers.

The report further revealed that Akwa Ibom, Imo, Taraba, Yobe, Bayelsa, and Jigawa required over

PCNGI, Airport Taxi Drivers Sign MoU to Convert Vehicles to CNG

Emmanuel Addeh in Abuja

The Presidential Compressed Natural Gas Initiative (PCNGI) and airport taxi drivers yesterday signed a deal that would see the latter convert their vehicles to the cheaper gas fuel in Abuja for free.

The federal government is looking to convert about 1 million vehicles in the first phase of the programme, as petrol prices continue to choke motorists across the country.

CNG is considered cheaper, cleaner and more efficient and the Nigerian government had recently continued to push for its adoption nationwide to wean the country of expensive petrol.

Speaking during the signing ceremony in Abuja, the Chief Executive of PCNGI, Michael Oluwagbemi, noted that deal would see the reduction in the cost of airport taxi for commuters.

Represented by Folarin Oworu, the coordinator of the presidential CNG office explained that the agreement will also lead to the reduction of transport fares from the airport by 30 per cent.

He added that the MoU signing was to ensure that the agreement was documented, leading to free conversion for all the beneficiaries.

“I carry the taxi services from the airport back into town, all around Abuja, the capital. One of the things that we try to do with them is to recognise them as commercial transporters and include them in our CNG programme, which is free conversion for all commercial vehicles.

“Second, it is also to find a way to agree a discount on the existing rates. So we've had a lot of back and forth

negotiations and I'm glad that we've come to an agreement. And this is also a signing ceremony, documenting our agreement in terms of the reduction.

“ We've come to a 30 per cent discount on airport fares from Abuja airport to Abuja metropolis. All of that is documented in the agreement here and then we will sign it.

“Also, the terms and conditions under which our agreement is to be enforced is also documented here. We prefer it to be a 30 per cent discount,” he stated.

Also speaking, spokesman of Airport Cabs Operators at the Nnamdi Azikiwe International Airport, Abdulaziz Aliu, lauded the deal, stressing that passengers will enjoy cheaper services once the programme takes off.

“We appreciate you for signing this agreement for the purpose of which the federal government has introduced this thing for us and we said now that we have alternative to petrol, our price is going to come down with 30 per cent and passengers will enjoy our services more than before.

“With the signing of this agreement today, we are looking forward to see most of our vehicles converted within a short time, maybe within two or three weeks. As far as we see, the airport taxi price will drastically come down and passengers can patronise us more than the others cabs,” he stated.

While appreciating President Bola Tinubu for the programme, he noted that the conversion of vehicles free of charge will go a long way to ameliorating the hardship faced by airport commuters.

five times their IGR to meet operating expenses, highlighting significant dependence on federal revenues, aid, and grants.

“This indicates that no state needed to borrow to fund any portion of its recurrent spending,” the report stated.

According to the report, the combined revenue of all states increased significantly by 31.2 per cent in the 2023 fiscal year, from N6.6 trillion in 2022 to N8.66 trillion.

The growth rate exceeded the previous year's increase of 28.95 per cent, indicating a notable improvement in fiscal performance.

Of the total revenue generated in 2023, Lagos contributed N1.24 trillion, representing 14.32 per cent of the cumulative revenue of the 36 states.

Gross Federal Account Allocation Committee (FAAC), which grew by 33.19 per cent from N4.05 trillion in 2022 to N5.4 trillion in 2023, contributed to 65 per cent of the year-on-year growth of the combined revenue of the states, the report noted.

It added that the increase indicated additional revenue accrual to states, albeit moderate, due to discontinuing the petroleum subsidy.

Specifically, it stated that 32 states relied on FAAC receipts for at least 55 per cent of their total revenue, while 14 states relied on FAAC receipts for at least 70 per cent of their total revenue.

In addition, transfers to states from the federation account comprised at least 62 per cent of the recurrent

revenue of 34 states, except Lagos and Ogun, while 21 states relied on federal transfers for at least 80 per cent of their recurrent revenue.

Head of Research and Policy Advisory, BudgIT, Iniobong Usen, said, “The picture painted above buttresses the over-reliance of the state governments on federally distributable revenue and accentuates their vulnerability to crude oil-induced shocks and other external shocks.”

Usen explained, “The fiscal viability and long-term sustainability of states heavily depend on their capacity to mobilise revenues internally by effectively leveraging their natural resource endowments, technology, public-private partnerships, human capital, and effective consequence management.

“This capacity is crucial for financing essential infrastructure, investing in human capital development and social protection, meeting the new minimum wage and its consequential adjustments, and repairing the fractured social contract.

“To achieve debt sustainability, states must also curb their reliance on foreign loans, especially in light of exchange rate volatility and shrinking fiscal space, to minimise exposure to unfavourable exchange rates.” Usen said states should establish robust frameworks for debt transparency and accountability, and ensured that borrowed funds were allocated to high-impact projects with clear economic returns.

Mining Sector: Alake Canvasses Trade Expansion Between Nigeria and UAE

Folalumi Alaran in Abuja

The Minister of Solid Minerals Development, Dr. Dele Alake has made a case for enhanced trade relations between Nigeria and the United Arab Emirates (UAE) with emphasis on solid minerals.

Speaking while receiving in audience the UAE Ambassador to Nigeria, Ambassador Salem Shaeed Al Shamsi, in his office, Alake reflected on the historical significance of the over 50-year robust relationship between the two nations, emphasising the need to deepen these ties through expanded trade in the mining sector.

"In the mining sector, we see significant opportunities for collaboration. While there is considerable trade in gold, much of it remains illegal, with a large portion of Nigerian gold ending up in the UAE unlawfully.

“We propose working together to develop strategies to curb illegal gold trade and establish a regulatory framework that legitimizes this trade, allowing both countries to maximize their benefits," the minister stated.

Alake highlighted Nigeria's wealth of globally sought-after minerals and noted that the UAE, as a major hub for mineral trade,

stands to gain from a strengthened partnership in the mining sector.

The minister also expressed interest in partnering the UAE on technology transfer to advance Nigeria's mining sector.

In his remarks, Ambassador Al Shamsi affirmed the UAE's commitment to reinforcing its longstanding relationship with Nigeria, citing the recent resolution of visa restrictions and the signing of a Memorandum of Understanding (MOU) between UAE companies and Nigeria via the Solid Minerals Development Fund (SMDF).

"The lifting of visa application

restrictions and the launch of a new visa application website demonstrate my country’s dedication to advancing bilateral relations," Ambassador Al Shamsi asserted.

He also announced an upcoming Nigeria-UAE economic forum set to take place in Nigeria, featuring participation by 30 to 35 major companies from the Middle East and UAE, aimed at boosting Foreign Direct Investments (FDI) in Nigeria. To address illegal mineral trade and promote legitimate commerce, both nations agreed to establish a technical committee to explore collaboration strategies.

FG Not Paying Niger Delta Gas Flare Revenues, Says Diri

Olusegun Samuel in Yenagoa

Governor Douye Diri of Bayelsa State has bemoaned the failure of the federal government to remit to Niger Delta states revenues from gas flare fines and royalties paid by oil firms to its coffers.

Governor Diri said the oil producing states and indeed the communities in the region that bear the brunt of gas flaring have been deprived of the revenue accruing to the federal government over the years.

He again lamented the situation

where oil companies situate their administrative offices far from their operational bases, shortchanging states like Bayelsa of personal income and other taxes.

Senator Diri stated this on Monday during an expanded state executive council meeting during which the final report of the Bayelsa State Oil and Environment Commission (BSOEC) was presented in Government House, Yenagoa.

Commenting on the report titled: “An Environmental Genocide: Counting

the Human and Environmental Cost of Oil in Bayelsa, Nigeria,” he said the impact of oil pollution to both humans and the environment were alarming.

Meanwhile, the governor has been honoured as the Hero of Nigerian Students by the National Association of Nigerian Students (NANS) for his outstanding performance in the education sector.

The students' body led by the Senate President, Comrade Babatunde Akinteye, presented the award on Monday at the Government House, Yenagoa.

Comrade Akinteye said the honour was the first bestowed on any Nigerian leader and was necessitated by the many developmental initiatives of Governor Diri, especially in the education sector.

The students’ leadership particularly mentioned the building and equipping of technical and vocational schools in the state, donation of vehicles to students’ unions, setting up of the Students Management Committee as well as sponsorship of students to international sporting competitions among others.

L-R: President, House of Purpose, Prof. Seth Akhilele; Chairman, AA Holdings, Mr. Austin Avuru; Managing Director, Top Services Limited, Mr. Tokunbo Omisore; Group Managing Director/CEO, Futureview Group, Mrs. Elizabeth Ebi; Chairman, MTN, Dr. Ernest Ndukwe; Director, Dangote Cement, Mr. Emmanuel Ikhazaboh; and Pro Chancellor, Ondo State University, Prof. Toyin Ashiru, during Customer Appreciation

Cocktail organised by Futureview Group at the Lagos Metropolitan Club... recently

Venue: Lagos Continental Hotel, 52a Kofo Abayomi Street, Victoria Island, Lagos.

13 – 14 Nov 2024

Access to the venue is by invitation only. Register to attend online.

Email: deji.elumoye@thisdaylive.com

As APC Unites for Ondo 2024 Guber Election...

Fidelis David reports that last week’s stakeholders and reconciliation meeting of the all Progressives Congress in Ondo State ahead of the November 16, 2024 gubernatorial election has proven that the party is ever ready for the poll and is not taking its chances for granted.

No doubt, the saying that “when you fail to plan, you are planning to fail”, is an indisputable fact because it has from time immemorial proved its veracity in practical terms in human evolution.

The All Progressives Congress has been exploring this saying, knowing fully well that it’s not just fascinating glimpse into what might be possible but a reminder that the landscape of planning and strategy is continuously evolving, and strategists must evolve with it to remain effective.

The above can be practically linked to last weekend’s stakeholders and reconciliation meeting of the All Progressives Congress in Ondo State ahead of the November 16 governorship poll.

Notably, the three Southwest governors under the platform of the All Progressives Congress (APC) namely Babajide Sanwo-Olu of Lagos State, Abiodun Oyebanji of Ekiti state and Dapo Abiodun of Ogun State were in Akure, the Ondo State capital, to rally stakeholders of the party in preparation for the governorship election.

The stakeholders meeting, which took place at The Dome in Akure, was also attended by the National Chairman of the APC, Alhaji Abdullahi Ganduje, the National Secretary, Senator Ajibola Bashiru and Southwest National Vice Chairman, Hon. Isaack Kekemeke. Governor Sanwo-Olu, who is the Chairman of the Southwest Governors Forum, moderated the meeting, emphasizing the need for the party to mobilize effectively ahead of the Ondo election.

He said: “We are here to appreciate every party member. Whatever differences may have existed in the past, it’s time to set them aside and work together as one big family. Nobody will be left behind or taken for granted.

“President Bola Tinubu is aware of this gathering and keen on ensuring APC’s victory in the coming election. We are in this race to sustain the ongoing development. We can’t afford to let our progress be reversed.”

Ekiti State Governor, Abiodun Oyebanji,

highlighted the significance of the election, saying, “although we are marking my second year in office in Ekiti, I had to be here because the Ondo election is more important.”

He appealed to party members to remain united to preserve the achievements of the late Governor Rotimi Akeredolu, adding, “This is why APC must be returned to power. The legacy the late governor left behind must be sustained.”

Echoing similar sentiments, Senate Majority Leader, Senator Opeyemi Bamidele, and Prince Tajudeen Olusi of the Lagos Governance Advisory Council, stressed the need for unity in the party to ensure a smooth and decisive victory on November 16.

The APC National Chairman, Ganduje, revealed that the ruling All Progressives Congress (APC) will capture the Southwest geopolitical zone in the next round of elections.

This is just as he urged all aggrieved governorship aspirants in the Ondo State governorship primary to close rank ahead of the election, noting that the state must be at the forefront in winning the zone.

He disclosed that the party will not reveal its secret in winning the other two remaining states in the next off-cycle governorship elections.

Ganduje who led other National Working Committee members of

the party to the meeting said: “ In this geo-political zone, we must deliver 100 percent in favour of APC, therefore, Ondo State you must be at the forefront. The two other states, I will not reveal our secret but we assure you, we are strategizing. Everything must be 100 percent behind President Asiwaju Bola Tinubu.”

“This election is critical, and as party leaders, we must treat it with the seriousness it deserves. It is a task we must carry out diligently, not just for the state but for the party at large. This election is a win-win situation for everyone, and as the APC National Chairman, I expect nothing less than 90% of the total votes. Victory in Ondo is non-negotiable”, Ganduje stated.

To Capture Ondo Guber Poll is to Repeat Events of 1983, 1962

However, the Peoples Democratic Party, in a swift reaction faulted the remarks by Ganduje, for boasting that the intention of APC is to capture Ondo State and, by extension, the entire South-West region.

PDP National Publicity Secretary, Debo Ologunagba in a statement described Ganduje’s comments as reckless and threatening.

“What Ganduje said about the APC’s plans to ‘capture’ Ondo and the SouthWest is both alarming and inappropriate. The term ‘capture’ implies forceful control or occupation, and we will not accept being enslaved in our own land.”

Ologunagba expressed worries that the collapse of democracy in Nigeria since 1983 was because of unguarded utterances and actions of reckless political actors

This election is critical, and as party leaders, we must treat it with the seriousness it deserves. It is a task we must carry out diligently, not just for the state but for the party at large. This election is a win-win situation for everyone, and as the APC National Chairman, I expect nothing less than 90% of the total votes.

Victory in Ondo is non-negotiable.

who wanted to grab powers at by force.

“Historically, attempts to impose control have led to significant unrest. The ‘wetie’ crisis in the 1960s and the National Party of Nigeria’s (NPN) efforts to impose Akin Omoboriowo as governor in 1983 both serve as reminders of what happens when the will of the people is disregarded. Any attempt by the APC to force itself upon the people of Ondo State will be met with strong resistance.”

Also, Governor Seyi Makinde of Oyo state and leader of PDP in in the region while leading the campaign train of the candidate of the Peoples Democratic Party in the forthcoming poll, Mr Agboola Ajayi, to the Akoko area of Ondo state last Wednesday said the people of the South West are now wiser, stressing that the results of the November 16 poll will shock Ganduje and other members of the ruling party.

“If wishes were horses, everybody would be riding it. I can tell you that the people of southwest of Nigeria are wiser and especially in Ondo State, where we are, you can see the crowd, look at the enthusiasm.

“On November the 16th, they will tell him that Ondo State and indeed Southwest is for the PDP. You rig where you are popular. Now, we have used Edo State as a template because we saw what they did. And all the loopholes are being blocked right now. And our people are ready, they will come out. Not only will they come out to vote, they will also stay with their vote and ensure that the vote is counted and it counts.

“On November the 16th, write it down, PDP will prevail and Agboola Ajayi will be declared as the Governor-Elect. Not based on anything but the people of the state. It’s their wish and we can feel it all around us. Talk, they say is cheap. You can say whatever you like with your mouth but the people of Ondo State will speak loud and clear on the 16th of November 2024 and then all of us in this country will hear it loud and clear”, Makinde added.

Ganduje

Aiyedatiwa

Sanwo-Olu

Burger King Soars to New Heights with MMA2 Store Opening

In a significant milestone in its expansion journey, Burger King Nigeria has opened its 16th store at the Murtala Muhammed Airport Terminal Two (MMA2) in Ikeja, Lagos. The launch showcases Burger King's commitment to revolutionising the quick-service restaurant industry in Nigeria, writes Mary Nnah

The grand opening of the MMA2 store was a momentous occasion, attended by dignitaries, customers, and partners. The event featured a ribbon-cutting ceremony, a kitchen tour, and a lucky dip, where one guest won a free return flight courtesy of Ibom Air.

Rushdi Ibrahim, Managing Director and CEO of Allied Foods and Confectionery Services Limited, operators of Burger King in Nigeria, expressed pride in the company’s rapid expansion across the country. "We’ve opened 16 restaurants in just 33 months — that’s one restaurant every two months. This pace is a testament to our team’s dedication and the Nigerian market’s receptiveness to our brand."

The decision to open the MMA2 branch was strategic, according to Ibrahim. "Nigeria is a melting pot of opportunities, and we recognised the potential at MMA2, the country’s premier airport. We wanted to bring Burger King’s exceptional dining experience to this hub, catering to the diverse tastes of its numerous passengers."

Burger King's commitment to adapting to local tastes while maintaining its brand identity was evident in the introduction of products like yam fries, plantains, and potato cubes, tailored to Nigerian palates. Ibrahim emphasized the brand’s focus on affordability and convenience, with easy ordering options available via kiosks.

"While we innovate, we remain true to our brand essence," said Ibrahim. "We won’t deviate from who we are — the Home of the Whopper. Our customers trust us to deliver high-quality, flavorful food, and we’ll continue to meet those expectations."

Regarding future locations, Ibrahim shared, "Our priority is customer convenience, and we won’t compromise on quality. We aim to be where our customers want us, whether in bustling cities or strategic transportation hubs."

A member of the Lagos State House of Assembly, Hon. Adewale Temitope OON (JP), emphasized the state’s commitment to supporting businesses like Burger King. "The presence of Burger King in our airport, a pioneering achievement in any Nigerian airport, showcases Lagos State’s dedication to creating a conducive environment for businesses to flourish. Despite economic challenges, we remain steadfast in fostering a thriving business ecosystem."

Hon. Temitope highlighted Lagos State’s cosmopolitan nature, which makes it an attractive hub for trade and commerce. "As lawmakers, we are focused on creating an enabling legal framework that encourages business growth and development. Lagos offers a wide range of opportunities for various industries, including technology, fintech, construction, and more."

Aniekan Essienette, Group Manager of Marketing and Communication at Ibom Air, spoke about the strategic partnership between Ibom Air and Burger King. "We’ve received numerous partnership requests, but Burger King’s proposal stood out. We saw immense value in their brand and wanted to be associated with them."

This collaboration allows both brands to leverage each other’s platforms for marketing activations, further enhancing their visibility in the Nigerian market. Essienette emphasized that the partnership aligns seamlessly with Ibom Air's mission to enhance customer experiences. "By partnering with Burger King, we’re offering our passengers a valuable experience. Burger King is a tried-and-tested brand, and we’re

thrilled to have them on board."

Essienette commended the Burger King marketing team for executing the partnership swiftly,

saying, "We started this conversation and executed the partnership in just 14 days. Burger King is an exceptional brand, and we’re excited about this

collaboration. We look forward to achieving great things together."

She also encouraged Ibom Air passengers to enjoy Burger King’s menu and visit their lounge at MMA2. "Today, Burger King is offering samples on our Lagos-Abuja and Lagos-Uyo flights. We believe once passengers try their products, they’ll become repeat customers."

Lerato Makume, Marketing Director for Burger King, expressed appreciation for the partnership with Ibom Air. "I’d like to extend my heartfelt thanks to Ibom Air for joining forces with us on this exciting initiative. Together, we’re rewarding our loyal customers." Makume also introduced a special promotion: "For every purchase exceeding 7,000 naira, customers will be entered into a lucky dip to win a free domestic return ticket on Ibom Air and other fantastic prizes. One lucky winner redeemed a free return ticket at today’s event. This promotion will run until the end of September, and we encourage everyone to participate." As Burger King Nigeria continues to expand, it’s clear the brand is committed to delivering exceptional customer experiences. Through its various initiatives and strategic partnerships, Burger King is poised to make a significant impact in the Nigerian market.

L-R: Managing Director/CEO, Burger King Nigeria, Rushdi Ibrahim; Group Head, Finance BiCourtney Aviation Services Ltd, Mrs Yosola Popoola; Member, Lagos State House of Assembly/ Chairman House of Committee on Transportation, Hon. Temitope Adewale OON (JP) and Group Manager, Marketing and Communications of Ibom Air, Aniekan Essienette during the official opening of the 16th store of Burger King Nigeria in MMA2 Ikeja, Lagos…. Recently

L-R: Chief Development Officer, Joseph Ekpo; IT Manager, Charles Umunnakwe; Special Projects and Franchise, Elie Youssef; Supply Chain and Logistics Director, Hussein Daaboul; Marketing Director, Lerato Makume; HR Director, Chioma Jose; Managing Director/CEO Burger King Nigeria, Rushdi Ibrahim; Legal Officer, Elizabeth Finebone; Chief Financial Officer, Moses Otebayo and Senior Operations Manager, Fawzan Hammed during the official opening of 16th store of Burger King at MMA2 Airport Lagos… recently

Burger king airport

The Road Ahead: Strengthening Global Resolve with the Pact for the Future

Ebaide Omiunu

The United Nations General Assembly (UNGA) has long stood as a beacon for global cooperation, where world leaders converge annually to address pressing global challenges. Established in 1945, UNGA serves as a platform for nations to engage in dialogue, negotiate resolutions, and promote peace, security, and development. Its primary objectives include fostering international cooperation, upholding human rights, and addressing social, economic, and environmental challenges across the globe.

However, the 79th session of the UNGA was particularly special and significant, not only because of the growing urgency to address the world’s most pressing issues but also due to the adoption of the Pact for the Future — a pivotal commitment designed to reinforce the Sustainable Development Goals (SDGs) and prepare humanity for the challenges of the coming decades. This Pact represents a collective acknowledgment that the future must be shaped by shared responsibility and unity.

At this critical juncture in global history, the need for action on climate change, inequality, poverty, and social justice is more pressing than ever. The world is grappling with multiple crises — from the devastating impacts of climate change to geopolitical tensions and economic instability. These crises disproportionately affect vulnerable populations, leaving millions without access to essential resources like food, clean water, and education. The recognition of these disparities has spurred the global community to seek solutions that are not only effective but also equitable.

Significance of the 79th Session and Pact for the Future

The 79th UNGA provided a timely opportunity for leaders to renew their commitment to addressing these challenges and to recognize that business as usual is no longer an option. The world needs solutions that are transformative, inclusive, and sustainable — solutions that place humanity and the planet at the center. This paradigm shift is essential for creating lasting change and ensuring the well-being of future generations.

The adoption of the Pact for the Future during the Summit of the Future represents a watershed moment for the global community. This pact is designed to reinforce and accelerate progress toward achieving the SDGs, with a focus on fostering solidarity, accountability, and collective action. It recognizes that to meet the ambitious goals set forth in the 2030 Agenda, we must address the systemic inequalities that hinder progress and ensure that no one is left behind. The Pact underscores the importance of inclusive growth and the role of every individual in driving this transformation.

The Pact lays out a roadmap for addressing climate change, advancing gender equality, ensuring peace and justice, and promoting equitable access to resources. It acknowledges the interconnectedness

of these issues and the need for a holistic approach that brings together governments, civil society, the private sector, and individuals from all walks of life. By emphasising collaboration, the Pact aims to harness the collective strength and ingenuity of the global community.

Empowering Youth Participation and Role of Young People

The Summit of the Future also stood out for its inclusive approach, with high-level participation from world leaders and key stakeholders, including young people from all over the world. Young people, like myself, were not merely observers but active participants in shaping the future. The Summit of the

Future Action Days provided a platform for youth to voice their concerns, share innovative ideas, and engage in meaningful dialogue around the thematic areas of the Pact. This inclusion of youth voices signifies a commitment to intergenerational equity and the recognition that young people are critical agents of change.

Conversations revolved around the need for climate action, technological equity, economic transformation, and the importance of safeguarding human rights. For many young people, participation in these discussions was not only empowering but also a reminder that we are the torchbearers of tomorrow. Our role in advancing the SDGs and ensuring the success of the Pact for the Future is critical. The insights and perspectives of young people are invaluable in crafting

solutions that are forward-thinking and resilient.

Personally, my involvement in the Summit of the Future reinforced my belief in the power of collaboration and kindness. It gave me hope that, despite the many challenges we face, a brighter and more inclusive future is within reach — but only if we continue to engage and take deliberate action.

The debates at the UNGA, where world leaders engaged in vigorous discussions, highlighted the urgency of adopting the Pact. These leaders acknowledged the global crises and, through collaborative dialogue, committed to actionable outcomes. The subsequent adoption of the Pact for the Future is a landmark decision that signals the global community’s readiness to take bold steps to secure a more just and sustainable world. Also, this consensus among world leaders is a testament to the shared understanding of the gravity of the situation and the necessity for immediate action.

Now that the Pact has been adopted, the next step is translating the commitments made into tangible action. The Pact requires accountability from all stakeholders, especially young people. We must hold our leaders to their promises, advocate for inclusive policies, and remain committed to making positive contributions to our communities.

As young people, we are uniquely positioned to lead the charge. We must be deliberate in our efforts, continuously engage in policy conversations, and collaborate across sectors and borders to ensure the vision of the Pact is realized. The future we desire — one where peace, prosperity, and sustainability are the norm — is ours to build. Our energy, creativity, and drive are essential for propelling the global agenda forward.

The Pact for the Future offers a framework for transformative change, but it is up to each of us to reinforce this vision through action. We must translate our engagement into on-the-ground efforts, whether by leading local initiatives, advocating for policy changes, or participating in global conversations. Every action, no matter how small, contributes to the broader goal of sustainable development.

Shaping the Future

As we move forward, I urge everyone to make kindness, collaboration, and accountability a way of life. The challenges ahead are immense, but together, through collective action and a shared commitment to the SDGs, we can navigate this complex world and create a future that is equitable, inclusive, and sustainable for all. The strength of our collective resolve will determine our success.

The future is not a distant concept — it is unfolding now. The question is, what role will we each play in shaping it?

Our decisions and actions today will define the legacy we leave for future generations. Let us seize this moment with determination and hope.

-Omiunu is a lawyer, and a sustainability advocate based in Abuja.

The Baby Convention Set to Redefine Parenting in Lagos

Nigeria’s biggest baby conference, The Baby Convention, is set to take place at La Madison Place, Oniru, Lekki, Lagos, on November 16-17, 2024.

This event, organised by esteemed pediatrician Dr. Ayodele Renner, aims to provide a platform for parents to enhance their knowledge and connect with peers

The convention seeks to address the evolving needs of modern parents through a series of expert-led sessions and interactive activities. Dr. Renner, known as "The Noisy Naija Pediatrician," emphasises the importance of equipping

parents, particularly working-class moms, with the tools and resources needed to navigate the complexities of parenthood. “Motherhood is a lifelong journey filled with joy and challenges. Our goal is to provide parents with the knowledge and resources they need to thrive,” stated Dr. Renner.

With anticipation building, parents across the country are eager to attend. Jessica M., a mom and blogger, expressed her excitement, stating, “I love sharing this site with my followers as a mom and blogger. It’s an excellent resource

for new and seasoned parents alike.”

He said the event will feature extensive product showcase of top brands' essential baby products, strollers and car seats to toys, clothing, and other must-haves.

Also in the offing are Masterclasses and Empowerment Sessions where attendees will benefit from expert-led training on topics such as sleep training, breastfeeding, and coping strategies for parenthood.

The engaging and interactive sessions will have parents have fun and hands-on activities including live product demos, diaper-changing tutorials, and sleep training for children.

Prominent speakers like Nimi Akinkugbe,

and host Dr. Ayodele Renner will lead various sessions aimed at equipping parents with practical insights into raising healthy and happy children.

"Whether you are a new mom, an experienced parent, or expecting, The Baby Convention is the place to be. Don’t miss out on this opportunity to connect with other parents, gain invaluable knowledge, and enjoy a fun-filled event.

"Tickets for the convention are available for 15,000 Naira. Registration details and further information can be found at www.thebabyconvention.com. Follow updates on Instagram and Facebook @ thebabyconvention," he added.

Omiunu

YUSUF ISHAKU GOJE argues for the review of the Fiscal Responsibility Law to enforce fiscal discipline

KADUNA STATE AND DEBT ACCOUNTABILITY

Kaduna State's debt profile and its implications for development was the topic of discussion on the Value for Money radio program on Invicta FM 98.9, sponsored by Paradigm Leadership Support Initiative (PLSI) in partnership with CALPED and Macarthur Foundation, where I am a weekly guest analyst. I was able to share my thoughts on the debt position of the State from the perspective of the past, present and future.

It is common knowledge that the State is currently ranked the second most indebted state in Nigeria, after Lagos, in terms of foreign borrowing. Also, according to data from Debt Management Office (DMO), it is only second to Cross River as the highest indebted State to China, given through China's Exim Bank.

The State remains exposed due to the exchange rate volatility. A quick reference, without incurring any additional external debt, Kaduna's external debt of $567.49m as of December 2020 rose by ₦42.06 billion from ₦173.59 billion (at ₦305.9 per $1) to ₦215.65 billion (at ₦380 per $1).

Available data shows that as at 31st December, 2023, the total public debt of the State was N460.89 billion, up from N307.49 billion in 2021; N284.39 billion in 2020, N248.10 billion in 2019, N156.50 billion in 2017, and N123.07 billion in 2016. Between 2016 and 2023, our total public debt increased by 274.6%.

Using the 2020 population projection of 9.48 million, which is on the State’s website, each resident of the State will need to pay N48,646. Disturbingly, the 2025-2027 Medium Term Expenditure Framework (MTEF) shows that the State is still proposing to borrow another N229.61 billion.

The total public debt service last year stood at N67.46 billion, rising from N5.82 billion in 2019, N5.29 billion in 2017, and N4.46 billion in 2016. That is from 2016 to 2023, our debt service astronomically grew by 1,410.3%.

Disturbingly, the State has surpassed the total debt service to total revenue, likewise, domestic debt service to IGR, as well as will require N70.87 billion to service its debt in 2025, N80.76 billion in 2026, and N90.00 billion in 2027 - this is according to the MTEF, 2025-2027.

A look at the loan trend shows that from 2021 to 2024, a total of N292.91 billion was budgeted to be collected as loan. Interestingly, the 2024 budgeted loan of N150.06 billion is 51.3% of this amount. In the same period, N148.82 billion was received, which is 50.8% of the budgeted loan borrowing.

Already, actual loan borrowing in 2024 half-year (N36.10bn) is 80% of what was borrowed in 2023 full-year (N45,15bn), 63% higher than what was borrowed in 2022 fullyear (N22,06bn), and 79% of what was borrowed in 2021 full-year (N45,49bn).

Indeed, there is a popular consensus that debt is not bad in itself; rather its utilization is usually the crux of the matter. In Kaduna State, the most notable loan funded developmental projects being implemented via loan are the Urban renewal projects, Rural transformation projects, AGILE projects, NGCARES, 300-bed space hospital among others. The questions beginning for answers are what is the quality of work being done and is there value for money?

To effectively manage our debt as a State, we need to ensure full constitution of the Debt Management Committee, review and amend the Debt Management Law, 2015, to transform it into a semi-autonomous agency, assess and review the State Public Debt Policy to align with current realities, strengthen the technical capacity of the State Debt Management Department, and lastly, review and amend the Fiscal Responsibility Law, 2016, to enforce fiscal discipline and limit borrowing to provision of infrastructure.

Goje

is a civil society member and OGP enthusiast, greatnessygoje@gmail.com

TikTok ensures user safety by addressing harmful content swiftly, writes SONNY ARAGBA-AKPORE

SOCIAL MEDIA PROVIDERS AND NIGERIAN CONTENT CREATORS

On Monday September 16,2024,ByteDance and it’s short video platform,Tik Tok appeared at a crowded court in Washington DC, United States of America (USA) before a panel of three judges to appeal against a law that is likely to ban the company from doing business in the USA by January 2025 if it does not divest its operations.

Although,this legal tussle is ongoing,Nigerian content creators appear to be the first victims of this long drawn battle between Tik Tok and the American government.

While the content creators wonder what becomes of their trade, Facebook and Instagram are making things more difficult for them.

Tik Tok, Facebook and Instagram may have strong reasons for their actions but not as much as we know.

Meta Group, owners of Facebook,Instagram and WhatsApp last week deleted over 1,600 users in Nigeria for alleged scamming activities.

The deleted Facebook groups are allegedly linked to Yahoo Boys.

This purge, which happened on October 17, 2024, follows the one in July 2024 that saw 7,200 Facebook assets removed. The company also announced that the recent removal of 63,000 Instagram accounts in Nigeria were tied to financial sextortion scams.

On Thursday, October 17, 2024 Meta revealed that these groups attempted to organise, recruit, and train new scammers. It said, “Yahoo Boys are banned under Meta’s Dangerous Organizations and Individuals policy — one of our strictest policies — which means we remove Yahoo Boys’ accounts engaged in this criminal activity whenever we become aware of them.”

“While we’ve been removing violating Yahoo Boys accounts for years, we’re putting new processes in place which will allow us to identify and remove these accounts more quickly.”

In addition to targeting scammers, Meta introduced new safety features aimed at protecting users, particularly teens, from sextortion scams. These measures include blocking suspicious accounts from following teens and making it harder for scammers to view follower lists, which are often used to blackmail victims.

The TikTok face off with the U.S. government in federal court specifically argued a law that could ban the platform in a few short months saying it is unconstitutional.

But the American Justice Department said it is needed to eliminate a national security risk posed by the popular social media company.

In the more than two-hour appearance before a panel of three judges at a federal appeals court in Washington, attorneys for the two sides - and content creators - were pressed on their best arguments for and against the law that forces TikTok and its Chinabased parent company ByteDance to break ties by mid-January or lose one of their biggest markets in the world.

Andrew Pincus, a veteran attorney representing the two companies, argued in court that the law unfairly targets the company and runs foul of the First Amendment because TikTok Inc. - the U.S. arm of TikTok - is an American entity. After his remarks, another attorney representing content creators who are also challenging the law argued it violates the rights of U.S. speakers and is akin to prohibiting Americans from publishing on foreign-owned media outlets, such as Politico, Al Jazeera or Spotify.

Despite the spirited arguments put forward, Tik Tok is already licking its wounds and in what seems a transferred aggression visited its spleen by deleting over two million accounts of Nigerians mid last week.

This is the second time in the last one year that it will visit its anger on Nigerians.

By last quarter of 2023, no fewer than 1.7 million

accounts were deleted.

Figures published in ByteDance’s advertising resources indicate that TikTok had 23.84 million users aged 18 and above in Nigeria in early 2024 according to DataReportal.

ByteDance allows marketers to target TikTok ads to users aged 13 and above via its advertising tools, but these tools only show audience data for users aged 18 and above .

ByteDance’s figures indicate that TikTok ads reached 20.8 percent of all adults aged 18 and above in Nigeria at the start of 2024.

TikTok’s ad reach in Nigeria was equivalent to 23.1 percent of the local internet user base at the beginning of the year, regardless of age according to DataReportal.

In early 2024, 40.9 percent of TikTok’s ad audience in Nigeria was female, while 59.1

percent was male.ByteDance’s advertising resources only publish audience gender data for “female” and “male” users.

DataReportal explains that, ad audiences often only account for a subset of a platform’s total users, and given that TikTok’s ad tools only publish data for users aged 18 and above, it’s important to remember that trends in TikTok’s ad reach figures may not necessarily match changes in the platform’s overall user base. In reality TikTok’s ad reach in Nigeria was equivalent to 23.1 percent of the local internet user base at the beginning of the year, regardless of age.

The battle in the American courts is especially calculated to upturn a Presidential Executive Order which specifically directs Tik Tok to divest its operations by breaking away from the Chinese appendages.

The measure, signed by President Joe Biden in April, 2024 was the culmination of years-long saga in Washington over the short-form videosharing app, which the government sees as a national security threat due to its connections to China.

The U.S. has said it’s concerned about TikTok collecting vast swaths of user data, including sensitive information on viewing habits, that could fall into the hands of the Chinese government through coercion. Officials have also warned the proprietary algorithm that fuels what users see on the app is vulnerable to alleged manipulation by Chinese authorities, who can use it to shape content on the platform in a way that’s difficult to detect.

So what is the offence of Nigerian content creators in all of these?

During the second quarter of 2024, approximately 21.6 million TikTok accounts owned by Nigerians were removed from the platform due to suspicion of being operated by users under the age of 13. Aragba-Akpore is a member of THISDAY Editorial Board

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

NDLEA VERSUS SENATOR ASHIRU

The

At plenary last week, the Senate set up an ad hoc committee to investigate drug-related allegations against one of its own, Deputy Senate leader, Oyelola Ashiru. This followed a statement by the National Drug Law and Enforcement Agency (NDLEA) that the senator’s residence in Ilorin, Kwara State, was raided recently based on credible intelligence “that the senator’s house was being used as a drug joint for dealers and users.” Some drugs and illicit substances were allegedly recovered, and two of the senator’s aides were arrested while another escaped. With the Senate President, Godswill Akpabio, already dismissing the allegations as motivated by personal vendetta, we don't know what the committee is meant to do.

However, many pertinent questions are begging for answers. Why did the NDLEA wait till now to disclose the arrest of some of Ashiru’s aides, an incident which allegedly happened in February last year? Was Ashiru invited for a chat? Ashiru who represents Kwara South Senatorial District, had accused the NDLEA of being “the most corrupt and compromised agency.” Detailing the negative impact of drug consumption in his constituency where he also alleged there were barons making money from the misery of young people, Ashiru said: “One of my constituents even told me that in the last two years, he has seen 50 people lose their sanity due to drug use.”

Despite the best efforts of the NDLEA, Nigeria is still suffused in drug epidemic. There is widespread use of hard drugs, particularly among young people

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T

While the Senate committee probes the allegation and counter-allegation between the NDLEA and Senator Ashiru, there are other ominous revelations that are deeply troubling about the political class and hard drugs. Senator Kawu Sumaila from Kano State, while contributing to the debate alleged that the presence of hard drugs is widespread in the offices and homes of many politicians. The New Nigeria Peoples Party (NNPP) member said he knows of many senior politicians who support drug dealers in the

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

com along with photograph, email address and phone numbers of the writer.

illicit business and accused some lawmakers of using hard drugs. Even more embarrassing, he alleged there were “mountain of drugs” and dealers in many homes and offices in their political constituencies. Although Sumaila was ruled out of order by the presiding officer, for “irrelevant comments,” the NNPP member insisted that the abuse of drugs by politicians is commonplace, and indeed dared his colleagues to swear with the Qur’an or the Bible that they do not encourage drug abuse, especially during campaigns. As awkward as the revelations may seem, the information is right there in the street. Many Nigerians, including officials of the NDLEA, have made similar comments that the political class is seriously involved in spreading and encouraging the use of illicit drugs, especially during electioneering. Many of the so-called youths they employ in their constituencies are serially fed with all manner of drugs. Some of the politicians themselves are also allegedly involved in the habit, prompting many to agitate for drug tests before they contest elections and assume political positions.

Meanwhile, despite the best efforts of the NDLEA, Nigeria is still suffused in drug epidemic. There is widespread use of hard drugs, particularly among young people. The most abused drug is cannabis, commonly called Indian hemp. But other hard drugs like cocaine, heroin and amphetamines are increasingly available in the street and abused by both the young and the old across the country. These are drugs that affect behaviour, mood, thoughts, and perception. Their abuse has also become a serious health challenge for the country.

Considering how issues related to drug abuse have increased the public health and security challenges in the country, it is unfortunate that the anti-narcotic agency and Senator Ashiru are engaged in an unhelpful war of words. But if anything, the controversy and the revelations from Senator Kumaila have only drawn attention to the drug-abuse prevalence in Nigeria.

IN PRAISE OF BELLO OYAKHILOME

Hon. Bello Oyakhilome, known for his digital innovations, has a multifaceted background, and has carved a niche for himself as a valuable asset in Senator Monday Okpebholo's cabinet.

Bello's unwavering dedication to youth empowerment and sociopolitical advocacy has singled him out as an administrator and a potential catalyst for transformative policies that will significantly benefit the teeming Nigeria's population.

Bello Oyakhilome's political journey reflects a blend of entrepreneurial success, philanthropic endeavors, and political activism, all aimed at diversifying Nigeria's economy from its dependence on oil and gas to an entrepreneurial hub that'll foster the nation's economic growth. His philosophy and resilience for a transformative change are shaped by a disciplined environment due to his family's military background. His education spanned several institutions in Nigeria and the United States, where he founded Havilah Holdings Inc. and other successful ventures. This rich tapestry of experiences in the global business sectors has equipped him with a unique perspective on both local and international issues.

Bello's entrepreneurial spirit has been pegged by his founding of multiple companies, including Wealth Power Inc. and Dollars

for Junk Cars Inc. Thus, his remarkable innovation has earned enormous revenue growth across various industries, establishing him as a respected leader in the business community.

This experience positions him well to understand the economic challenges and opportunities facing Nigeria today.

As the National Youth Leader for the All Progressives Congress (APC) in the United States of America, Oyakhilome has demonstrated his dedication to youth issues. He has organized events aimed at promoting political engagement among young Nigerians, such as Town Hall meetings that showcased President Tinubu and Senator Monday Okpebholo (Edo State governor-elect) as a viable candidate. His philanthropic efforts through organizations like "I Believe World & Oyakhilome Bello Foundation,” have provided scholarships and support to underprivileged individuals, thereby showcasing his commitment to social responsibility.

Oyakhilome's vision for empowering Nigerians aligns perfectly with the needs of the current political landscape. The APC-US support group has advocated for his appointment as Minister of Youth Development, emphasizing that he possesses the passion and experience necessary to inspire positive change among

young people. They believe that Oyakhilome can redirect youth mindsets towards constructive thinking and success.

Oyakhilome's active participation in civic matters, including organizing rallies to support democracy in Nigeria, highlights his commitment to national issues. His ability to mobilize communities both domestically and abroad demonstrates his leadership qualities and readiness to tackle challenges head-on.

The philanthropist advocacy extends beyond mere political engagement; it encompasses a broader vision of empowering youth to become change-makers within their communities. By redirecting their mindsets towards constructive thinking, personal development, and successful growth, he aims to combat issues such as climate change, youth restiveness, economic decline, and disenfranchisement.

With aspirations extending beyond Nigeria's borders, Oyakhilome envisions an Edo where every individual has access to quality education, healthcare, and economic opportunities. His foundation aims to empower 100,000 youths by 2025 through innovative technological solutions that foster self-reliance.

David Peter, Benin City

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 28-October-2024, unless otherwise stated.

Kayode Tokede

The tough operating business climate in Nigeria went a notch further in September as average maximum lending rate in the banking sector increased to 30.21per cent, which is another record high. Maximum rate is the upper limit of interest rates for loans provided to the sector, which might apply to higher-risk scenarios or different loan structures.

THISDAY analysis of the Central Bank of Nigeria’s (CBN) ‘Money market indicators’, revealed a correlation between hike in Monetary Policy Rate (MPR) and increase in average maximum lending rate.

As the average maximum lending rate closed September 2024 at 30.21 per cent from 29.93 per cent in August 2024, MPR moved from 26.75 per cent in August 2024 to

27.25 per cent in September 2024.

Average maximum lending rate in Nigeria averaged 14.07 per cent from 1961 until 2024, reaching an all-time high of 37.80 per cent in September of 1993 and a record low of 6.00 per cent in April of 1975.

Analysts had predicted that the maximum lending rate would increase further as the Monetary Policy Committee (MPC) of the CBN hiked rate to 26.75per cent at the late meeting in June 2024.

The average maximum lending rate had closed 2023 at 26.62 per cent on the backdrop of CBN hike in MPR to 18.75per cent.

The CBN’s MPC decision to hike the MPR to 27.25 per cent likely reflects an attempt to control inflation and stabilise the naira.

The CBN, under Mr. Yemi Cardoso has increased the MPR for the fifth time to combat inflation and foster economic stability.

Such a strategic manoeuvre aims to curb the inflation surge, which recorded a year-on-year peak of 32.7per cent in September 2024 and to mitigate the depreciative pressures on the naira.

However, the steep increase in the policy rate has sparked concerns regarding the potential impact on the cost of credit for businesses already facing economic hardships.

The first hike increased the rate from 18.75 per cent to 22.75 per cent, the second to 24.75 per cent, the third to 26.25 per cent, the fourth to 26.75 per cent and recently 27.25 per cent in the September 2024 Monetary Policy Committee (MPC) meeting.

The increases, totalling 850 basis points since Cardoso’s appointment, have been driven by efforts to tackle the country’s persistent inflation challenges, which include high core and food inflation.

THISDAY checks showed that average maximum lending rate opened 2024 at 27.07 per cent and it has increased by 314 basis points to 30.21 per cent reported by the CBN in the month under review.

Fitch Ratings had projected that the CBN would maintained stand on continues tightening policy in the near term, which seems necessary to more fully control inflation as rapid credit and money-supply growth suggests a still-loose monetary context.

“Such a tightening will still face implementation challenges, partly due to the potential for countervailing political pressure. However, without further sizeable monetary tightening, it may be difficult to achieve macroeconomic stability – real interest rates remain negative, deterring inward portfolio investment,” Fitch added.

Speaking with THISDAY,

Investment Banker & Stockbroker, Mr. Tajudeen Olayinka, said banks reviewed their lending rates on regular basis, subject to their respective cost of funds and the direction of MPR, not necessarily using MPR as a distinct value.

According to him, the MPR signals to them the direction of interest rate in the market and the price they will pay if they have to borrow from or lend to CBN.

“Therefore, their deposit mix, which includes idle customers’ deposits, determines what their weighted average cost of funds would be. They then factor in the signal from MPR, to enable them arrive at their various prime lending rates which are usually reserved for their prime customers.

“But with all these recent circulars from CBN concerning idle deposits and foreign exchange windfalls, the market should prepare for

a prolonged high interest rate regime. CBN doesn’t seem to have a good understanding of its recent destructive policies,” Olayinka further said.

On his part, the Chief Research Officer, InvestData Consulting Limited, Mr. Omordion Ambrose, said: “Businesses need a lot of credit facilities to survive, but in an environment where the lending rate is astronomical, many enterprises, especially small and medium-scale, might find it extremely difficult to survive as their products will remain uncompetitive and the cost of production and the sale prices to consumers will remain high.” He added: “A hike in interest rate is often considered a manufacturers’ nightmare as it stifles productivity and expansion.

The Senate has directed the Nigeria Deposit Insurance Corporation (NDIC) to ensure the maximum recovery and realisation of value from the remaining assets of the defunct Heritage Bank, and to optimise settlements for depositors and other creditors.

Speaking at the NDIC’s retreat organised for the Chairman, Senate Committee on Banking, Insurance, and Other Financial Institutions, Senator Adetokunbo Abiru, in

Lagos recently, the Committee, praised the NDIC’s swift response in handling depositors’ claims from the collapsed bank. The retreat, themed: ‘Building Resilient Financial Systems through Effective Legislative Intervention’, addressed emerging risks and the importance of legislative collaboration in bolstering financial resilience.

Abiru said: “I applaud the NDIC for its diligence and commitment to restoring hope to those affected. The process of

settling depositors is never easy, particularly in cases involving significant financial distress, but your dedication to resolving this matter demonstrates the high standard of operational efficiency that we, as stakeholders, have come to expect from the NDIC.”

He added: “Nevertheless, I urge the corporation to ensure that maximum value is realized from the bank’s remaining assets, which will ultimately contribute to the settlement of outstanding depositors and other creditors. It

is my hope that all the challenges associated with the settlement of the Bank’s stakeholders, including those concerning liquidation dividends for corporate customers, are resolved speedily, effectively, and efficiently.”

In his address, Managing Director/ Chief Executive of NDIC, Bello Hassan, highlighted the retreat’s purpose of enhancing collaboration with the Senate to address risks associated with advancements in technology, globalisation, and financial sector consolidation.

He said: “In recent years,

the financial services sector has experienced significant transformation, largely driven by advances in technology, globalisation, and consolidation. New services and products have emerged, while new players and financial technologies have been challenging traditional service providers through faster, cheaper, and reliable services.” Hassan also stressed the importance of managing the additional risks posed by the developments. According to him, “While this development presents

opportunities for growth, we must, however, be conscious of the additional risks and complexities that the system may be further exposed to. To address this concern, stakeholders, particularly those charged with oversight functions, must collaborate more than ever before.”

He added that the legislature’s support is crucial in redesigning the legal framework to adapt to financial advancements while protecting consumers and encouraging innovation.

Nume Ekeghe

UNVEILING HR SOLUTIONS…

L-R: Project Manager, Uchechukwu Olokunde; Chief Operations Officer, Ozioma Ajaraonye; CEO/Founder, Chukwuma Ukeagu and Product Manager, Mfonobong Umana, all from HC Matrix, during the unveiling of Comprehensive HR solutions in Lagos…recently

Nume Ekeghe

Transnational Corporation Plc (Transcorp Group), has announced robust financial results for the third quarter of 2024, marking a year-onyear performance leap driven by a strong focus on key growth sectors.

Also, the firm in a statement announced the successful completion of its share reconstruction, a strategic action aimed at maximising long-

term shareholders’ value. The share reconstruction involved a consolidation of the total number of issued shares at a ratio of 1 to 4, reducing the total issued and fully paid shares of Transcorp Group 40.6 billion shares to 10.2 billion shares. Whilst the number of shares reduced pro rata, the total value of shareholders’ investments remains unchanged with no dilutive impact to shareholders.

Three Life Underwriting Firms Take Insurance Market Lion Share

The insurance sector this year witnessed a relatively uneven distribution of market share among both life and non-life underwriting firms, with top three life underwriting firms accounting for 43.8 per cent share of the entire life segment.

Also, top three companies in the non-Life segment holding approximately 34.8 per cent share.

This represents the individual companies’ performance for Q2 2024 as disclosed by the sector regulator the National Insurance Commission (NAICOM) in a document it titled

Group Business Editor

Eromosele Abiodun

Deputy Business Editor

Chinedu Eze

Comms/e-Business Editor

Emma Okonji

Asst. Editor, Energy

Emmanuel Addeh

Asst. Editor, Money Market

Nume Ekeghe

Correspondents

KayodeTokede(CapitalMarkets)

James Emejo (Finance)

Ebere Nwoji (Insurance)

Reporter Peter Uzoho (Energy)

Bulletin of the Insurance Market Performance anchored by the research and Statistics Department and published by the commission recently.

Though the commission did not list the names of the top three firms, it said 86.6 per cement of all life business was concentrated among the top ten players, with the bottom 10 players contributing just 1.3 percent of the life insurance premiums.

The commission said on the other hand, in the non-life section, the top ten underwriters generated around 66.3 of the gross written premium, while the least 10 insurers controlled only 1.1 percent of the market share during the same period.

The gross premium written figure of the sector within the period stood at N813. 1 billion showing a significant growth of 47.7 percent from the the figure in 2023.

The commission said the industry during the period reported a total asset of N3,687.9 billion, signifying a 9.5 percent increase from the N3,336.4 billion reported in Q1 2024.

The balance sheet indicates that the non-life business holds assets amounting to N2,292.4 billion, while the life business accounted for N1,395.5 billion of the industry total assets.

“These figures highlight a significant increase in both segments, reflecting the overall robustness and upward trajectory of the industry” the commission stated.

In terms of market size, the regulator said insurance industry has indeed demonstrated resilience, good soundness, profitability, and stability in view of the market behaviour during the period of the second quarter.

For the period ending September 30, 2024, Transcorp recorded revenue of N298 billion, a remarkable 133 per cent increase from the N128 billion reported in the same period of 2023. Profit before tax (PBT) surged by 303 per cent, reaching N105.5 billion compared to N26.2 billion in Q3 of the previous year, further consolidating the Group's standing in Nigeria’s competitive business environment.

Its total assets increased by 29 per cent, climbing from N530 billion in December 2023 to N684 billion by the third quarter of 2024. The

asset growth was paralleled by a 34 per cent increase in shareholders’ funds, which rose from N187 billion in December 2023 to N251 billion by Q3 2024.

The growth was largely attributed to retained earnings, showcasing the Group’s commitment to creating shareholder value. Operating expenses saw a 38 per cent rise to N32 billion in Q3 2024, reflecting the impact of inflation on operating costs, while net finance costs rose by 12 per cent to N12 billion, attributed to higher interest rates.

President/Group Chief Executive Officer, Transcorp Group, Owen

Omogiafo, attributed the Group’s exceptional performance to its focus on innovation, operational excellence, and ability to navigate a complex market environment.

She said: “We are proud of our consistent year-on-year growth. This remarkable financial performance is a reflection, once again, of our vision and spirit of execution. As we approach year end, we will focus on enhancing operational efficiency, investing in high-growth sectors, and delivering long-term value to our shareholders. We are investing for the future, particularly in the energy and

hospitality sectors, delivering for our shareholders and our nation.”

Commenting on the share reconstruction, Omogiafo said: “This share reconstruction is in line with the company’s corporate strategy and growth plan and is aimed at maximising shareholder value. The reconstruction will bring the company’s capital structure to a manageable position.”

She reiterated that Transcorp would remain committed to driving growth and creating value for its shareholders through strategic actions that align with its business objectives.

Raheem Akingbolu

For African states to be strong, united, resilient and become influential global player and partner, African countries should endeavour to trade more among themselves, adopt African Continental Free Trade Area Agreement (AfCFTA) and creation of the single African air transport market, Dean Faculty of Law of University of Abuja, Prof. Uwakwe Abugu, has stated. Giving his keynote speech titled; ‘Enhancing Intra-African Trade Through Legislative Measures’, at the 2024 International Conference

of West African Law Students’ Association (WALSA), held at the Nigerian Bar Association (NBA) house. Abuja, recently, Abugu said the potential of Intra-African trade, based on the International Trade Centre Potential Indicators methodology is estimated to surpass $69.4 billion export as of 2023.

According to him, this projection holds the potential to elevate the current level of intraAfrican trade to $261.6 billion, which would constitute 36 per cent of total intra-African trade.

He said, “According to IMF Direction of Trade Statistics,

2023, Afreximbank Research, contribution of five regions of Africa to intra-African trade in order of highest to lowest is as follows: Southern Africa, West Africa, East Africa, North Africa and lastly Central Africa. The top ten contributors in order of highest to lowest are South Africa, Cote d’Ivoire, Egypt, Nigeria, Zimbabwe, Mali, Ghana, Zambia, Democratic Republic of Congo, and finally Namibia.

“In West Africa, Cote d’Ivoire made a significant expansion in its trade with the continent in 2023 increasing from $13.1 billion in 2022 to $16.1 billion in 2023 thus

increasing the country’s share of total intra-African trade to about 8.4 per cent in 2023 from the 7.0 per cent in 2022, making it the second largest intra-African trading country in 2023.”

Speaking further, the university lecturer referenced a report which stated that in 2023 Nigeria experienced a 2.1 per cent decrease in its trade within the continent, totaling $8.0 billion, down from $8.2 billion in 2022 and this led to a marginal decline in the country’s share of total intra-African trade in 2023, decreasing to about 4.2 per cent from 4.4 percent in 2022.

Ebere Nwoji

The Chief Executive Officer Pension Fund OPerators Association(PenOp), Oguche Agudah, has called on Pension Fund Administrators (PFAs), to expand the investment options available under RSA Fund VI through deeper industry collaboration to address existing challenges.

Agudah, who made the call during a webinar session titled, ‘Maximisvng the Potential of RSA Fund VI: Exploring Sharia-Compliant Investments’, further urged operators to seize opportunities of growth in Sharia-compliant and ethical investments to grow the industry.

Also speaking, Chairman of

the Pension Industry Non-Interest Advisory Committee (PINAC), Dr. Adam Muhammad Abubakar outlined the current challenges PFAs face in accessing Sharia-compliant instruments. He stressed the need for more investment outlets and enhanced awareness about the growth potential of non-interest financial products.

Head of Investment Supervision of Pencom- Mr. Dahiru, Abdulqadir, represented by Bil- Taminu of the same department in PenCom department highlighted the efforts the Commission had made to advance the ethical investment space.

“We understand the challenges PFAs are facing in terms of

regulatory clarity. Pencom is committed to providing clear rules that will foster confidence in investing in non- interest instruments, ensuring compliance while driving innovation,” he said.

The session also highlighted how Sharia-compliant investments, particularly Sukuk bonds, have played a crucial role in raising infrastructure funds. Participants at the session argued that expanding the issuance size of such instruments was key to attracting more PFA participation and driving the growth of RSA Fund VI. They also discussed the importance of clear guidelines from Pencom and SEC to support the growth of

non-interest financial instruments. Also speaking, the Treasurer of Alternative Bank, Abimbola Yusuf, spoke about his firm’s transition into a standalone non-interest bank and highlighted upcoming products for Fund VI.

The CEO of Marble Capital, Akeem Oyewale, was of the same view saying, “The market for Sharia-compliant investments is growing, and we are developing a robust pipeline of instruments to support PFAs in diversifying their portfolios. Collaboration with issuers is key to ensuring that the size of Sharia-compliant issuances grows, creating more investment opportunities.”

Ebere Nwoji

PenCom Mandates PFAs to Suspend Investment in Commercial Papers

The National Pension Commission (PenCom) has directed licensed pension fund administrators (LPFAs) to suspend further investment in commercial papers with immediate effect.

Commercial paper is a shortterm debt instrument issued by corporations to finance inventory, accounts payable, payroll, and other short-term

liabilities. In a circular with reference number, ‘PENCOM/TECH/ ISD/2024/402’, dated October 23, and signed by the Head surveillance department of PenCom, A.M. Salem, the commission said Securities Exchange Commission (SEC) did not have established regulatory framework on the issue.

According the News Agency

of Nigeria, the circular was addressed to managing directors and chief executives officers (CEOs) of all LPFAs

PenCom warned the LPFAs to desist from investing in the affected portfolio pending the issuance of guidelines on the issuance of commercial papers by the SEC.

“PenCom has noted the increased investment by

Licensed Pension Fund Administrators (LPFAs) in commercial papers issued by limited liability companies,” the commission said.

“It has also observed that the issuing companies have engaged capital market operators as Issuing and Placing Agents (IPAs) to manage the issuance and placement of these commercial

papers. However, the commission has become aware that SEC, the regulator of the capital market, currently lack established rules and regulations governing the issuance of commercial papers. Consequently, all LPFAs are directed to immediately suspend further investment in commercial papers where capital market

operators (non-banks) are engaged as IPAS,” the agency said.

PenCom said the directive stands “pending the issuance of guidelines or regulations on the issuance of commercial papers by SEC”.

Furthermore, PenCom advised the operators to promptly take all necessary steps to guarantee full compliance with the circular.

Stanbic IBTC Pension Managers, emPLE Insurance Sponsor ART X Lagos Fair

Ebere Nwoji

Stanbic IBTC Pension Managers and emPLE Insurance, formerly Old Mutual Insurance, have been named official sponsors of the ninth edition of the ART X Lagos, the West Africa’s premier international art fair, which holds from October 31 to November 3, 2024. Both companies said they were elated to be part of the success

story of the Art X Lagos fair. Stanbic said since its inception, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings and a member of the renowned Standard Bank Group, has not only provided innovative pension solutions but also championed financial literacy and cultural enrichment in Nigeria. The Pension industry leading firm said in its recognition of the transformative power of art, it first

partnered ART X Lagos shortly after the fair's launch in 2016. According to the firm, this collaboration has evolved into a strategic alliance aimed at nurturing the arts and elevating African voices in the global art scene.

Chief Executive, Stanbic IBTC Pension Managers, Olumide Oyetan, said: “Supporting ART X Lagos aligns perfectly with our belief in the transformative power of art and culture”

Speaking further he said, “As we spotlight these remarkable figures through the ‘Mark Makers: Unsung Pioneers; of the exhibition, we are not just honouring their legacies; we are inviting future generations to draw inspiration from their courage and creativity. Together, let us cultivate an environment where artistic expression and cultural heritage thrive, paving the way for a brighter, more inclusive future.

Firm Set to Use Agriculture to Tackle Poverty in Nigeria

Kemi Olaitan in Ibadan

An agro-allied company, Agbeyewa Farms has said its focus is to use agriculture to eradicate poverty and guarantee prosperity in line with the priority of the administration of President Bola Tinubu.

The Managing Director of the company, Mr. Oskar Seyi Ayeleso, who made the disclosure at ‘Agbeyewa Day’ in the ongoing Odu’a International Trade Fair,

holding in Ibadan, said the firm would work towards making Nigeria a food secured economy, stating that it is dedicated to producing world-class food and cash crops.

According to him, Agbeyewa Farms which is a subsidiary of Cavista Holdings Limited, is driven by its vision to become the most successful Agro-Allied company in Africa, noting that it is by prioritizing agriculture as a key sector that can take the economy

of the country out of its present economic challenges.

He disclosed that through its cassava revolution program the company has cultivated over 1,500 hectares of cassava farm land across four locations, noting that it intends to cultivate 10,000 hectares of cassava farm land, spanning nine communities, before the next two years.

Ayeleso said, “To meet our growing operational needs, we are

investing in equipment capacity as we currently have over 25 tractors for land clearing, plowing, harrowing, ridging, planting, road, and building construction. We have over 30 new tractors arriving before the year-end, with four to be cleared at the port this week. We are building a strong foundation in human capacity, tractorization, cassava plantation, corporate governance, structure, and system capabilities in preparation for our world-class agro-processing

Oyetan said: “As ART X Lagos continues to grow, Stanbic IBTC Pension Managers remains a steadfast supporter of artists, curators, and cultural advocates who contribute to this vibrant tapestry. Through this partnership, the organisation actively champions the notion that art should be accessible and celebrated as a vital part of society.”

emPLE Insurance management

plant.

“Our plan is to plant not less than 10,000 hectares of cassava in 2026. Our growth and commitment have attracted recognition. In May 2024, at the Africa Business Summit in Dallas, Agbeyewa Farms signed a landmark MOU with the Ekiti State Government for 100,000 hectares of cassava cultivation. This initiative aims to empower local farmers through our In-grower and Outgrower schemes, providing access to

said the partnership positioned it as not just a financial institution but a key advocate for the creative economy.

Spokesperson to the organisers Tokini Peterside-Schwebig, said the exhibition, ‘Mark Makers: Unsung Pioneers’ aims to celebrate figures such as Jonathan Adagogo Green, Nigeria’s first professional photographer, and Nana Asma, a revolutionary advocate for women’s education.

machinery, inputs, and guaranteed off-take agreements.

“Agbeyewa Farms is carrying the message of the cassava revolution beyond Nigeria. Earlier this year, we hosted U.S. Embassy representatives, including Consul General, Mr. Will Steven and Deputy Chief of Mission, Richard M. Mills, Jr., on our farm at Ipao Ekiti. This is also aimed at increasing our partnership with development agencies.”

Oyster Agribusiness Secures $2m Fund to Expand Operations in Ghana’s Agricultural Sector

Agnes

Ekebuike

Oyster Agribusiness, an innovative agri-tech company specializing in climate-smart agriculture, has raised US$2 million in funding to expand its operations and deepen its impact on smallholderfarmers across Ghana.

The milestone was made possible through the support of Root Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND), with the fundraising process led by Pangea Africa Limited, a leading Business Development Service provider.

Over the last five years, Oyster Agribusiness has played a pivotal role in transforming the livelihoods of smallholderfarmers and promoting sustainable agricultural practices. The company has paid over GH¢60 million ($3.8 million) to smallholder farmers; positively impacted the

lives of 4,500 smallholderfarmers; Cultivated over 20,000 acres of farmland; supplied over 25,000 tons of agricultural produce to markets locally and internationally.

The fresh capital injection will allow Oyster Agribusiness to expand its operations, reach more farmers, and scale its climate-smart agricultural initiatives, further strengthening the resilience of Ghana’s agricultural sector in the face of climate challenges.

CEO, Edmond Kombat, shared his enthusiasm about the investment and the future of the company: “We are thrilled to have the support of Root Capital, RDF Ghana, Sahel Capital, and Pangea Africa Limited, whose expertise and backing will help us to accelerate our vision. This investment is a testament to the impact we’ve made with smallholderfarmers and the tremendous potential we see in scaling our operations. Together,

we are working toward a more sustainable, inclusive, and resilient agricultural ecosystem in Ghana.”

Pangea Africa Limited played a crucial role in structuring and guiding the fundraising process, ensuring that Oyster Agribusiness attracted the right partners to scale its operations while maintaining its focus on environmental sustainability and empowering smallholderfarmers.

“Oyster is a prime example of a growing African agribusiness generating triple bottom-line impact. Under the dynamic leadership of Mr. Edmond Kombat, Oyster is achieving impressive profits while delivering measurable social and environmental benefits, particularly for Ghanaian farmers. They serve as a shining example of leadership to their West African agribusiness counterparts,” Partner, Pangea Africa Ltd, Nii Lokko, said.

ALGORAND UrgesYouths to Acquire Skills for Global Tech Competitiveness

Young Nigerians have been urged to acquire relevant skills to enhance their competitiveness in the global technology sector.

The call came from the Algorand Foundation, a leading global Blockchain organisation, during the kick off of the Algorand Hackathon: Nigeria summit, which held in Jalingo, Taraba State. The event gathered tech experts from all 36 states and the federal capital territory

The Country Head of Algorand in Nigeria, Benjamin Onuoha, emphasised that states aiming for progress must invest deliberately

in the technological advancement of their youth. He stated that empowering young Nigerians with technical know-how is essential for them to create solutions that address critical challenges both locally and nationally.

“A state that wants to make progress must equip its youths with the relevant skills they need to compete effectively in the global technology ecosystem,” Onuoha remarked.

He said participants at the hackathon will work on developing blockchain-based solutions that

allow individuals to own and control their digital identities independently of centralised entities. They will also create innovative solutions aimed at improving supply chain transparency, security, and efficiency.

Onuoha highlighted the opportunity for participants to design the next generation of fast, transparent, and accessible payment platforms, promoting financial inclusion for all, regardless of their location or economic status. He noted that substantial prizes and opportunities await the winners.

EXPRESSION OF INTEREST

PREQUALIFICATION OF FOOD RETAILERS AND WHOLESALERS FOR WFP NIGERIA

REF. WFP-ABJ-CBT-EOI-2024-002

The United Na ons World Food Programme (WFP) Office in Ab ja, Nigeria o ld like to contract retailers in markets ithin Katsina State for its o cher food assistance programme targe ng beneficiaries in (K rfi,Batsari, M sa a, Mata , D tsin-ma, Kankaram Safana, Bakori, Kaf r and Danm sa LGAs)

Retailers m st ha e registered shops (m st pro ide the CAC cer ficate), alid trading licenses, permanent/semi-permanet shops in the Markets of K rfi,Batsari, M sa a, Mata , D tsinma, Kankaram Safana, Bakori, Kaf r and Danm sa LGAs) and able to pro ide food items to the targeted beneficiaries.

Interested retailers are req ested to fill and s bmit the EOI registra on form ia email to ci ng the Nigeria.eoi@wfp.org th reference n mber as the s bject of the mail on or before 15 November 2024. A�er registra on, retailers ill be assessed a n d s e l

Cer ficates, LGA Membership and ph sical shop(s) ill not be assessed/ selected

Interested Retailers can get the Registra on Form and more informa on on WFP's req irements b sending an e-mail to: Nigeria.eoi@wfp.org q o ng the EO reference n mber in the s bject line.

Fo r f r

07034554067/09070348306/08035659154.

Gaiyatar Yan Kasuwa da ke Shaawar Aikin Voucher: K ngi ar World Food Programme da ake kira (WFP) a Ab ja, Nigeria na gai atar kananan an kas a mas shag na a kas anni da ke cikin Jihar Katsina domin s shigo cikin shirin o cher da WFP ke shirin g danar a a (K rfi,Batsari, M sa a, Mata , D tsin -ma, Kan karam Safan a, Bako ri, Kaf r an d Danm sa LGAs)

M na b katar an kas a s kasance lalle s na da rajistan Cooperate Affiars Commission (CAC) da lasisin kas anci k ma s na da shago a cikin kas anni kamar (K rfi,Batsari, M sa a, Mata , D tsin-ma, Kankaram Safana, Bakori, Kaf r and Danm sa LGAs)

Yan kas a mas shaa ar annan shiri s cika fam ɗin k ma aika shi ta han ar imel a kafin ranar Nigeria.eoi@wfp.org th15 November 2024 Ak ma san a lambar annan EOI a matsa in s nan asika, Ba an anna rigista a'a tantance an kas a kafin a bada aikin.

Domin neman karin ba ani a kira annan n mbar a a: a Jihar Katsina 07034554067/09070348306.

ProPerty & environment

Uzoamaka Oshogwe Driving Afriland’s Remarkable Success in Nigeria’s Real Sector

Mrs Uzoamaka Oshogwe is the Managing Director/CEO of Afriland Properties Plc., and on her watch, the company has recorded an impressive 150% increase in total revenue, reaching N4.72 billion, and saw a 34% rise in Profit Before Tax to N2.41 billion. The company’s assets grew significantly by 76%, standing at N34.07 billion, further cementing Afriland’s position as a leader in the industry. Uzo Oshogwe tells Bennett Oghifo about Afriland Properties’ financial success and its growing real estate portfolio

As the MD/CEO of Afriland Properties Plc, what has been your journey in leading one of Nigeria’s most respected real estate companies?

My journey at Afriland Properties Plc has been an incredibly fulfilling one. I joined the company with a clear vision of transforming the real estate landscape in Nigeria. Over the years, this passion has not waned. My focus has been on driving an organization focused on innovative real estate solutions that meet the needs of both individuals and businesses.

Leading Afriland has given me the opportunity to align our goals with the evolving needs of the market, focusing on creating value through projects that enhance communities and drive growth in the sector. Today, we have developments that are landmarks and equally speak to our distinction in the real estate sector.

What has been your greatest challenge as a leader in the real estate sector, and how are you handling it?

One of the greatest challenges has been navigating the unpredictable economic landscape in Nigeria, which impacts the real estate sector significantly. From inflationary pressures to regulatory changes, these challenges require quick adaptation and strategic planning. At Afriland, we have built a culture of resilience, innovation, and flexibility, which allows us to pivot when necessary and still deliver value to our stakeholders. We have been able to streamline operations, optimize costs, and maintain our position as a leading real estate firm.

How would you describe Afriland Properties Plc and its role in shaping the Nigerian real estate sector?

Afriland Properties Plc is a forward-thinking and innovative company dedicated to delivering excellence in real estate development, investment, and management. We take a customer-centric approach, ensuring that our projects provide solutions to the needs of our clients and communities. Our role in the sector goes beyond just developing properties, we are committed to making an impact that fosters long-term growth and prosperity for Nigeria.

Can you highlight some of Afriland Properties Plc’s key projects and their impact?

One of our most important achievements is the construction of the Afriland Towers. An impressive office development that stands tall against the backdrop of the Lagos Skyline. Its launch was one of our proudest moments as an organization. This building was formerly Raymond House, a structure with a rich history. We saw an opportunity to modernize and transform it into Afriland Towers, a building that reflects the status and vision of our organization, providing top-tier services to all its tenants. There is also the Heirs Towers, an imposing edifice in the corporate hub of Ajose Adeogun, Victoria Island in Lagos. As project managers par excellence, we defied the odds to bring together all the elements required to deliver on our promise to our clients in record time, despite considerable challenges. This development coincided with the global COVID-19 pandemic, and we had to work within government-imposed restrictions while ensuring we met our targets and delivered the project successfully. Our developments in residential and commercial real estate have created jobs and contributed to the economic growth of Nigeria. We are focused on ensuring our developments have a lasting positive impact on the country’s economy.

What are the upcoming projects from Afriland Properties Plc?

We have several exciting projects in the pipeline. One of the key developments is

Afriland Estate. Afriland Estate is a fully residential neighborhood located within the fast-developing district in Karmo, Abuja. This estate will offer a one-stop smart community with all the amenities guaranteed to ensure comfortable living. It will be done in two phases and upon completion will contain 104 housing units.

Building on the success of The Residences I, our deluxe residential development in Ikoyi, which was fully subscribed in record time, we have now commenced the development of The Residences II, also located in Ikoyi. This premium project will feature 2 five-bedroom maisonette penthouses, 1 five-bedroom maisonette on a regular floor, and 7 units of threebedroom apartments. These homes are designed to provide investors with exceptional value for their investment. We also have commercial developments, “Afriland Complex” in Abule-egba and “The Emporium’ in Port-Harcourt that cater to clients who are interested in acquiring business spaces for use or

as investment tools. These form part of our ongoing contribution towards reducing the housing deficit in Nigeria.

What would you say are the potentials of the Nigerian real estate sector?

The Nigerian real estate sector is full of potential and untapped opportunities, especially as urbanization continues to rise. The demand for affordable housing is immense, and with the right policies and investments, the sector can significantly drive economic growth. Real estate plays a critical role in infrastructure development, job creation, and wealth building. However, it requires better regulatory frameworks, access to finance, and innovation to unlock its full potential. I am optimistic that as we move towards more sustainable and smart developments, and financial policies focused on inclusion, the sector will produce a more impressive contribution to Nigeria’s GDP.

As a female leader in a traditionally male-dominated sector, how have you carved a niche for yourself?

One of the greatest challenges has been navigating the unpredictable economic landscape in Nigeria, which impacts the real estate sector significantly. From inflationary pressures to regulatory changes, these challenges require quick adaptation and strategic planning

It has been a journey of persistence, resilience, and proving that leadership and excellence know no gender. I have always believed in my vision and passion for real estate and the impact it can have on lives. I have embraced opportunities to lead and made a conscious effort to ensure that my work speaks for itself. Nothing is impossible for women who work hard, stay intentional, and act with purpose. They will earn their rightful place at every table without compromising their values.

What message would you like to give to aspiring female leaders in the real estate sector?

My message to aspiring female leaders is to be bold, stay committed, and never underestimate the power of resilience. Breaking barriers requires resilience. As women in real estate, we may face obstacles, but every challenge is an opportunity for growth. Embrace your uniqueness, stand tall, and let your achievements speak for themselves. I am proud to highlight that I am part of a group that encourages women to flourish. At Afriland Properties, 50% of the composition of our Governing board are women. We have 44% of women within the Afriland Exco and 38% among our dedicated Afriland Properties Staff. This exemplifies our commitment to fostering an inclusive workplace where every voice is valued.

How do you see the future of real estate evolving in Nigeria in the next decade?

The future of real estate in Nigeria will be defined by innovation, sustainability, and smart technology. We are already seeing a shift towards environmentally conscious developments, and I believe this will become the standard. As more people move into urban spaces, the need for efficient urban planning will grow. Technology will also play a significant role in how properties are designed, developed, managed, and sold. I foresee a future where the real estate sector is more responsive to the evolving needs of the population, providing not just buildings but living ecosystems.

What makes Afriland Properties Plc different from other real estate companies in Nigeria?

Afriland Properties Plc stands out because of our commitment to excellence, and customer satisfaction. We focus on creating long-term value, not just for our clients but also for the communities where we operate. Our core values, Excellence, Execution, and Enterprise drive everything we do.

Any final thoughts for the real estate sector and the industry as a whole?

My final message is one of optimism and encouragement. The real estate sector has incredible potential to transform Nigeria’s economy, and it is up to all stakeholders; government, private sector, and investors to work together towards this goal. A firm believer of Tony Elumelu’s Africapitalism, I subscribe to the school of thought that the African private sector has the power to transform the continent through long-term investments, creating both economic prosperity and social wealth. Most of the countries that we look up to have largely been shaped by the private sector and Nigeria can tow that line. The only difference is that the Government has to intentionally create laws and drive socio-economic policies that will create an environment for all to thrive. At Afriland, we are committed to being a part of that transformation. To the industry, I urge continuous innovation and a focus on customer-centric solutions. To the upcoming leaders, especially women, I say: seize every opportunity, stay determined, and remember that your contributions are vital to the growth of this sector.

Uzo Oshogwe

How Akada Children’s Book Festival is Enhancing Literacy Development Via Reading

As Nigeria continues to improve its literacy rates, initiatives like the Akada Children’s Book Festival are proving that through books, children can dream bigger, think deeper, and write their own stories for the future. Funmi Ogundare reports

Literacy is a cornerstone of development, shaping individual potential and societal progress. In the economy, it drives innovation and productivity, enabling individuals to contribute more effectively to the workforce. In personal development, literacy empowers individuals to navigate life with confidence, access better opportunities, and make informed decisions. In communities, high literacy rates often correlate with improved quality of life, better health outcomes, and increased levels of gender equality. For children, literacy is even more crucial as it shapes their cognitive development, builds problem-solving skills, and sets the stage for lifelong learning.

However, attaining high literacy rates remains a significant challenge, particularly in developing regions like Africa. A 2024 report by The United Nations Educational, Scientific and Cultural Organization (UNESCO) revealed that approximately 773 million adults cannot read and write, two-thirds of women and 250 million children are failing to acquire basic literacy skills. Of all regions, sub-Saharan Africa has the highest rates of education exclusion. Over one-fifth of children between the ages of six and 11 are out of school, followed by one-third of youth between the ages of about 12 and 14. This gap in literacy not only perpetuates cycles of poverty but also hinders the region’s ability to unlock the full potential of its population, limiting both individual and societal growth Nigeria is no stranger to these challenges. Despite being a leading economic power, Nigeria continues to face critical literacy challenges. In 2022, UNICEF Nigeria reported that 70 per

L-R: Aduke Gomez, author, ‘Iya Alaro Saves The Day’; Olubunmi Aboderin Talabi, author and convener of the Akada Children’s Book Festival; and Nnenna Ochiche, author, ‘Captain of Aster, at a press conference to announce the sixth edition of the Akada Children’s Book Festival in Lagos... recently

cent of children in Nigeria are unable to read simple sentences or solve basic math problems. Only 49 per cent of school-aged children meet basic literacy standards, while 55% achieve proficiency in numeracy. Literacy rates are particularly low among young women, with just

38 per cent in the Northwest and 42 per cent in the Northeast being literate, compared to 57 per cent and 53 per cent for young men in the same regions. Additionally, fewer than six per cent of children under five have access to three or more children’s books at home. The country’s literacy rate remains below the

global average, with UNESCO reporting that about 20 million Nigerian children are out of school, one of the highest figures in the world. For children in school, education quality and access to resources are often insufficient to foster foundational literacy skills.

Recognising the demand for innovative solutions to improve literacy, private and public sector organisations are increasingly investing in educational programs in Nigeria. These organisations are at the forefront of promoting reading culture through targeted initiatives focusing on education, community engagement, and access to learning resources. From community workshops to mobile libraries, they are creating opportunities for children to access quality reading materials and participate in interactive learning experiences.

One initiative making notable strides in promoting literacy is the Akada Children’s Book Festival, Nigeria’s first and largest festival dedicated exclusively to children. Established in 2019, the festival aims to make reading enjoyable, interactive, and culturally relevant for Nigerian children aged 13 and below. The festival fosters a shared mission: to improve reading habits and inspire a lifelong love of books by bringing together authors, educators, and literacy advocates. The festival’s name, ‘Akada’, meaning ‘a lover of literacy and books’ in Yoruba, underscores its commitment to celebrating the richness of African literature.

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

FCT Education Secretariat Lauds Primegate International Academy for High Standards

The Department of Quality Assurance (DQA) at the Federal Capital Territory (FCT) Education Secretariat has lauded Primegate International Academy for its high academic standards, resulting in its amazing and tremendous growth within its ten years of establishment.

Speaking at the 10th anniversary of the school weekend in Abuja, the Zonal Coordinated Evaluator from the DQA, Mrs. Patricia Mba, said each time its officials were on a routine advisory valuation of the school, it records high marks in its evaluation.

She said what struck the DQA during its

maiden visit to the school 10 years ago was that “Primegate International Academy had gigantic buildings with just ten students, unlike others that would enrol many students and pupils with the hope of developing the school later.”

Mba commended the top-notch welfare package put in place by the school’s management for its staff, which has seen most of the pioneer staff still with the institution 10 years later.

“We have instances in some schools where every year or two, teachers and,

in some cases, principals of schools leave for greener pastures. But at Primegate, the human flight is non-existent,” she added.

While applauding the school for imbibing high moral standards in its students, resulting in them embracing the African culture, the zonal evaluator urged the management to work towards establishing a university in the future.

The Head of School, Ms. Chisom Uzoigwe, said the school had been “a beacon of knowledge, the cradle of growth and a fortress of resilience “ over the past 10 years.

According to her, the school has been a place

where dreams are nurtured, talents discovered, and potential unleashed.

Uzoigwe maintained that beyond academic excellence, “Primegate has been a hub of diversity, inclusivity and belonging. We have embraced differences, celebrated individuality, and encouraged a sense of community that transcends barriers and unites us in our pursuit of knowledge and understanding.”

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

Re-elected GCIOBA President Pledges Early Payment of Salaries to Teachers

The National President of the Government College Ibadan Old Boys Association (GCIOBA), Dr. Olawale Babalakin, has promised to ensure that teachers employed by the association receive their salaries on or before the 25th of every month, starting in October.

Babalakin, who made the pledge at the inauguration of multi-million-naira infrastructure projects and the school’s 95th-anniversary celebration, expressed the association’s commitment to improving the welfare of teachers.

“We should also state that in October 2024, salaries will be paid on or before the 25th of

every month. Donors should please ensure that their commitments are paid long before then to enable the treasury to implement a very good plan,” he stated.

He noted that the association’s Teachers’ Support Fund (TSF) can currently support 20 teachers, with plans to increase the number to 45.

“We aim to employ 45 exceptional teachers to raise the standard of education at GCI,” Babalakin said, acknowledging the contributions of the North American branch, which currently funds eight

teachers, two technical staff, and other old boys who have supported the employment of 10 teachers.

GCIOBA General Secretary Lanre Olubi outlined the association’s ambitious 25-year plan to elevate GCI to one of the top 10 schools in Nigeria.

“What we have done in the last one year is to engage Price Waterhouse Cooper to give us a road map of what we need to do to ensure that GCI becomes number one, and what they did was to come up with a 25-year plan for us and the plan will have some sort of milestones

in term of measuring what we intend to do,” Olubi stated.

He stated that in the next five years, “we want to see GCI get to number 10 in the country and the things we need to do, we see the old boys committed to that, infrastructural renewal, we are doing that pretty well and from next year, we want to focus on software in terms that of the teachers and students.”

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

Corona Enrols 25 Underprivileged Children into Primary School

Oluchi Chibuzor

As part of its corporate social responsibility initiative and out-of-school project, the Corona Schools’ Trust Council has enrolled 25 underprivileged pupils into Adeife Sodipo-Akindeko Memorial Primary School, Bariga, Lagos. Speaking at the official enrollment exercise for the pupil, the CEO of the trust council, Adeyoyin Adesina, said that as a not-for-profit organisation, it believes in ploughing back into

society, hence the adoption of public schools.

She stated that the council has enrolled over 50 pupils into the school through the ‘out of school Initiative’ and promised to ensure that the new 25 pupils complete basic education.

The third cohort event is part of the 70th-year celebration in 2025, and the initiative is part of Corona’s out-of-school children’s project. The initiative allows

Corona School to offer support by rehabilitating physical infrastructure or equipping the teachers in the selected school with new knowledge critical for grooming future generations.

“Today, the 25 pupils we are enrolling brings the total to 75 children in this school, and after this, we intend to move to another education district,” she explained.

To sustain their interest, the pupils received back-to-school kits, while Adesina promised that they would continue to supply them with

more as they required.

Dr. Shittu Akeem, the Chairman of the Lagos State Universal Basic Education Board (LSUBEB), urged the parents to reciprocate the gesture shown by Corona Schools’ Trust Council by ensuring they bring their children to school.

The headteacher, Adeife Sodipo-Akindeko Memorial Primary School, Mrs. Arije Motunrayo, called on other private sector stakeholders to emulate Corona Schools’ Trust Council.

Amnesty International, French Embassy Host Debate on Right to Education

Kasim Sumaina in Abuja

In partnership with the French Embassy in Nigeria, Amnesty International commemorated the 2024 World Law Day by organising a debate on the legal foundation for the right to education.

Programme Manager at Amnesty International, Barbara Magaji, noted that the French Embassy in Nigeria usually commemorates International Law Day, so it partnered with them to celebrate it.

Magaji said, “If people are not aware of their rights, they will not know how to safeguard them. The day is important because it’s an opportunity to teach young minds about their rights, particularly the right to education.”

She disclosed that rights are inherent to human beings.

“Rights are attached to us as human beings. They’re not privileges that are granted by others but rather, they are deserved and should be demanded as long as you are a human being,” she said.

Cooperation Attaché at the French Embassy, Mrs. Ketty Ris, hinted that education is a fundamental human right recognised globally.

Riss said Article 26 of the Universal Declaration of Human Rights, the African

Charter on the Rights and Welfare of the Child, and the Convention on the Rights of the Child “all affirm every child’s right to education.”

Ris, while emphasising Nigeria’s critical juncture, pointed out that it was “a sad record” that over 18.5 million children are out of school, 60 per cent of them girls, signposting the “unrealised potential of millions of young people whose future depends on realising their right to education.”

“Through this debate, we aim to encourage critical thinking and advocacy skills in tomorrow’s young leaders,” she explained. “As we continue our debates, let’s not forget that education is not a privilege but a right. It is the foundation on which societies are built, essential to developing a peaceful, prosperous, and just world.”

Also, the Director of Clinical Legal Education at the University of Abuja, Dr. Nasir Muktar, highlighted the importance of commemorating International Law Day. According to him, the right to education is embedded in the constitution and can be enforced through frameworks like the Universal Basic Education Law and the Child Rights Act. Muktar added that Nigeria’s education system was inherited from the British.

Corona College of Education Donates Books to School, Harps on Reviving Reading Culture

To instil reading culture in the younger generation, Corona College of Education, Ilupeju, Lagos, has donated 470 books to Majolate Nursery and Primary School, Ilupeju, to make its library richer for the development of the pupils.

The Registrar of Corona College of Education, Mrs. Olufunmilayo Afe, who spoke on behalf of the management, said the initiative is an annual corporate social responsibility programme to impact its host community positively.

Afe charged the children to visit the library frequently and read the books to broaden their horizons beyond the shores of Nigeria.

“We are not donating just ordinary story books but educational, inspirational, informative books to your library. When you get to your library, just say I want to read Corona books, and it will be given to you,” stated Afe.

She added, “You will see the weather abroad and their activities as you will be taken out of Nigeria through the books you are reading. There are a lot of adventures in the books we are giving to you. You have to make use of them so that you can get more and more.”

The registrar urged teachers and aspiring teachers to hone their skills at the college through its Nigeria Certificate in Educa-

4.3m African Children Miss Vaccines Amid Disease Outbreak as UNICEF Launches Immunisation Song

Funmi Ogundare

The UNICEF Regional Director for West and Central Africa, Gilles Fagninou, has disclosed that nearly 4.3 million children across the region are missing essential vaccines, leaving them vulnerable to outbreaks of vaccine-preventable diseases such as polio, measles, diphtheria, and yellow fever.

Fagninou recently stated this in Lagos at the launch of an immunization awareness song, ‘No More Zero Dose’, as part of UNICEF’s activities to mark World Polio Day and reduce the number of unvaccinated children.

The song features 12 top musicians and UNICEF Champions from across the region, including

Cobhams Asuquo, Ali Nuhu, Kate Henshaw, Master Soumy, Mawndoe, Omawumi, Qing Madi, Sekouba Bambino, Spyro, Stanley Enow, Timi Dakolo, and WAJE, who were also in attendance at the programme to send a clear message that every child deserves to be protected by vaccines from preventable childhood diseases like polio and measles.

Fagninou noted that West and Central Africa “is the region with the lowest immunization coverage in the world.

Diphtheria-tetanus-pertussis (DTP3) coverage for the region was 69 per cent in 2023,” down from 72 per cent in 2019.

He stressed that the region has been hit by several vaccinepreventable disease outbreaks in

recent years, underscoring the urgent need to close immunization gaps.

Fagninou further highlighted the alarming rise in polio cases.

As of October 22, 2024, Africa has reported 138 polio cases, with nearly half occurring in Nigeria. Last year, there were 506 polio cases across the continent, he said, adding that zero-dose children, those who have not received any vaccines, remain the most vulnerable to disease.

“The ‘No More ZeroZero Dose’ campaign, through the power of music, sends a hopeful message of protection and love, inspiring communities to take action and join the movement for universal immunization,” the regional director explained.

Cristian Munduate, UNICEF’s

Country Representative in Nigeria, emphasised the importance of the initiative for Nigeria, where under-vaccination remains a pressing issue.

“This project is a call to action, especially for Nigeria, with eight of the featured artists from the country. Music is a powerful force for change, and through this collaboration, we amplify the message that no child should be left behind when it comes to life-saving vaccines,” she said.

Dr. Ibijoke Sanwo-Olu, the wife of the Lagos governor, reiterated the importance of full immunisation for children to safeguard their health. She reaffirmed the state’s commitment to improving healthcare and called on community leaders to promote vaccination efforts.

L-R Ms. Ornela Uberti, US; Dr. Joseph Ochogwu, DG, Institute for Peace and Conflict Resolution (IPCR); Dr. Oseremen Irene, Head, Dept of Peace and Conflict Studies, Federal University, Oye and President Global Alliance for Ministries and Infrastructures for Peace (GAMIP) Nigerian chapter; Prof. Diana de la Rua Eugenio, Argentina; Prof. Alberto Portugheis, UK; Mrs. Norah Awe, Ms Tope Komolafe, IPCR staff, and Professor Roberto Emmanuele, Mexico, during GAMIP’s one week international confab in Abuja... recently

NexaScale to Expand Future STEM Stars Initiative in 2025

Dike Onwuamaeze

tion (NCE) and professional diploma programmes, which are affordable and tech-centred.

The college’s librarian, Waheed Abudu, said there is a need to revive the school reading culture, hence the initiative to groom the children from the foundation.

Speaking on the benefits of reading, Abudu said it improves vocabulary and boosts confidence.

“I am optimistic that reading culture among children in this present day will improve. With the donation of books, we are encouraging them to read. Beyond this, we will visit the school and organise training for the pupils and their teachers,” said Abudu. “I urge other librarians to support the move of encouraging the culture of reading.”

The Executive Secretary of Mushin Local Government Education Authority, Mrs. Olufemi Akinlude, commended the college for the thoughtful donation.

Represented by Mr. Raphael Oyetade, Head of Section, Planning, Research and Statistics, Akinlude promised that the books will be used judiciously in the school.

In her response, the headmistress, Mrs. Agnes Akinduro, appreciated the gift, saying that the children would be guided properly in reading them.

The NexaScale, a non-profit organisation dedicated to nurturing tech careers, has announced that it would intensify its Future STEM Stars programme in Nigeria and expand it to schools in Ghana and other parts of Africa in 2025.

The expansion plan underscores NexaScale’s commitment to building a regional movement that is focused on female empowerment in Science, Technology, Engineering and Mathematics (STEM).

According to the founder, Ms. Adora Nwodo, “we want every

girl to know that she belongs in STEM, and that her ideas can shape the future of technology.

“With these new initiatives, we hope to provide both the inspiration and resources girls need to thrive in these fields.”

Since its launch, the Future STEM Stars initiative has engaged over 1,000 secondary school girls, providing inspiration through hands-on workshops, school visits, and long-term mentorship programmes.

NexaScale’s efforts have encouraged girls to explore STEM careers and consider how these fields could align with their future aspirations.

Nwodo said: “Our mission is to empower girls by providing the tools, resources, and inspiration they need to pursue STEM careers.

“We are excited to deepen our engagement next year by expanding into more schools, providing mentorship from STEM professionals, and donating much-needed technology resources.”

NexaScale has made significant strides in creating opportunities for girls in STEM and has visited several schools across Lagos and Abuja, including Vivian Fowler Memorial College for Girls; Mary Greg School, Ikotun;

Victoria Island Secondary School; and Gbaja Girls High School, Lagos; Springtide International School; and Lincoln Science School, Abuja.

During these visits, students participated in interactive sessions, gaining insights from seasoned professionals about the vast potential within STEM careers.

Jessica, a student from Mary Greg School, expressed her initial doubts about STEM career for girls. Her story highlights the cultural barriers many young girls face- barriers the Future STEM Stars initiative aims to break down.

Nasarawa Teacher, Esomnofu Ifechukwu, Emerges ‘2024 Maltina Teacher of the Year’

Uchechukwu Nnaike

Esomnofu Ifechukwu of Crown Grace School, Mararaba, Nasarawa State, has emerged as the winner of the 10th edition of the Maltina Teacher of the Year Competition at the weekend grand finale in Lagos.

Ifechukwu received a cash prize of N10 million and will be rewarded with an all-expensepaid capacity development training overseas, while an infrastructure worth N30 million will be built in his school.

Kehinde Olukayode from Molusi College, Oke-Sopen,

Ijebu Igbo, Ogun State, was first runner-up and received N3 million, while Aniefiok Udoh from Community Secondary Commercial School, Uyo LGA, Akwa Ibom was second runnerup and went home with N2 million cash prize.

In addition, 34 other teachers who emerged as state champions received N1 million each.

In his goodwill message, Governor Babajide Sanwo-Olu, represented by the Commissioner for Basic and Secondary Education, Jamiu Alli-Balogun, commended Nigerian Breweries-Felix Ohiwerei Educa-

tion Trust Fund for the steady path and commitment to the education sector through the Maltina Teacher of the Year Competition. He also thanked teachers for their enormous contribution to creating a brighter tomorrow despite the many challenges they faced in performing their roles. Sanwo-Olu noted that through the initiative, the trust fund has demonstrated immense support and uplifted the teaching profession in Nigeria with its enduring impact felt across groups and communities nationwide.

He stated that the competition has highlighted the incredible contribution of teachers whose passion and dedication are shaping the future of Nigeria and the youths. He disclosed that the state has been fortunate to benefit from the initiative, as the company recently donated a digital language laboratory to Keke Senior High School in honour of the 2023 winner, Adeola Adefemi, adding that the monumental contribution, meant to enrich students’ learning environment, would encourage literacy and promote academic excellence.

NGX to List N11. 98bn Shares of Halden McCall by Introduction

A frontline Real Estate and Hospitality Group, Halden McCall Plc, has said its application for the listing of N11.98 billion ordinary shares by Introduction on the Nigerian Exchange Limited (NGX) has been approved.

By the approval, the Company’s 3. 122 billion Ordinary Shares of 50 kobo at N3.84 per share, totaling N11.98 billion will be listed on Wednesday, November 20, 2024 on the Main Board of NGX.

The historic listing is expected to increase the market capitalisation of NGX by N11.98 billion.

A statement from the company indicates that the listing will be followed by the company’s presentation of Facts Behind the Listing. a unique event where newly quoted companies unfold their current status and future plan

to securities dealers, popularly called stockbrokers as part of post- listing information dissemination to the market. Listing by Introduction implies that Halden McCall has complied with all the listing requirements of NGX. The significant milestone underscores the company’s commitment to transparency, corporate governance, and investor confidence. The company was introduced to NGX by Finmal Finance Services Limited and Chartwell Securities, capital market consultant and stockbroker respectively.

Group Managing Director of Halden McCall, Dr. Edward Akinlade, said: “The upcoming listing of our Company’s shares on NGX is a milestone. We are thrilled to join the NGX com-

munity of prestigious companies. The listing shall enhance our ability to provide our shareholders with liquidity and accessibility. It will also enable us to tap into the capital market, drive growth and expansion.”

Halden McCall, which owns the popular Suru Express Hotels brands and Suru Homes brand in West Africa, is reputed as a major player in the emerging markets in Africa.

The Company is the owner of prime properties in many areas in the neighborhood for development.

In the medium term, the group wants to develop further 45 budget hotels under Suru Express Brand and 100 units of affordable residential estate to support the federal government’s drive for housing for all.

FairMoney Excites Customers with Interest Rates, Offers 30% on FairLock

FairMoney, a leading financial service provider, has announced a significant update to all its savings services, delivering some of the highest interest rates in the Nigerian financial market.

The increase underscores FairMoney’s ongoing commitment to providing exceptional value and supporting customers’ financial growth. Given the current high inflation of 32.7 per cent as of September 2024 as released by the Nigeria Bureau of Statistics, FairMoney intends to provide customers with options that improve their return on savings.

As part of this update, FairLock now offers up to 28 per cent interest per annum, with an exclusive 30 per cent per annum on certain tenures for first-time users. This makes FairLock an even more rewarding fixed-term deposit op-

tion where users can securely lock their funds and enjoy between 18 per cent and 28 per cent per annum upfront interest payments.

Commenting on this development, Manager Director of FairMoney, Henry Obiekea, reaffirms the company’s commitment to supporting customers’ financial growth and ensuring a rewarding savings experience.

“We understand that saving is an important part of financial growth, and we want to ensure that our customers are not just saving but also growing their wealth with the best returns. With the new 28 per cent interest rate on FairLock, 20 per cent interest rate on FairTarget, and 17 per cent interest rate on FairSave, our goal is to ensure that we continue to prioritise customer satisfaction, ensuring

that they have the most beneficial and rewarding savings experience,” he said.

Another savings product, FairTarget, now offers a competitive 20 per cent interest rate per annum, an increase from its previous 17 per cent per annum. This provides customers with a flexible, secure, and rewarding way to save toward their financial goals while earning substantial returns. FairSave on the other hand, changed from 15 per cent per annum to an increased interest of 17 per cent per annum. This product offers daily interest accrual and the flexibility to withdraw funds to a FairMoney bank account at any time without penalties, making it ideal for users looking to save for short-term goals while keeping their funds easily accessible.

Polaris Bank Wins Best Digital Bank Award for the Fourth Year

Polaris Bank, Nigeria’s digital retail commercial bank, again at the weekend proved its digital dominance in the Nigerian banking industry, winning the most-coveted award as the best in digital banking and the entire ecosystem for micro, small and medium enterprises (MSMEs).

At the Banks and Other Financial Institutions Awards (BAFI Awards), financial industry’s prestigious awards, Polaris Bank’s trailblasing digital banking platform, VULTe was adjudged the best as “Digital Bank of the Year”, for the fourth consecutive year.

Polaris Bank was also awarded “Best Bank for MSMEs of the Year”, for the third consecutive year, underlining the bank’s well-known competitive lending and general

Terra’s

supports for small businesses and the real sector.

With the awards, Polaris Bank retains a pride of place as the only Nigerian bank to have won the coveted awards for that long, underscoring the bank’s continuous investments in human and technological resources.

The BAFI Awards Selection and Review Committee stated that Polaris Bank outperformed industry peers in all key metrics, including strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, platform functionality and security.

BAFI Awards is well-regarded for its empirical and data-driven

selection process, a practice that makes the awards, one of the most prestigious independent awards for the Nigerian financial services industry.

Commenting on the award, Managing Directo/CEO, Polaris Bank, Mr. Kayode Lawal, said the continuing recognition of VULTe as best digital bank emphasised the user-friendly and multi-functional strengths of the digital platform.

He pointed out that Polaris Bank had seen tremendous market gain in digital transactions and lending with digital lending totaling more than N10 billion in the first eight months of this year, on course to surpass the N12.8 billion recorded for the whole of 2023.

‘Unwrap Your Smile’ Campaign Reaches Final Stage

Terra’s ‘Unwrap Your Smile’ campaign has reached its final stage, with excitement at an alltime high as communities rally behind small business owners making a difference.

The campaign has brought smiles to countless faces across Nigeria, with hundreds of nominations highlighting individuals offering affordable services and acts of kindness in their local areas.

One of the campaign’s standout elements has been the street activations in Lagos, where Terra brought joy to the streets with engaging VOX pop activities. From tongue twisters to impromptu singing and rap challenges, the energy

was infectious. People from all walks of life eagerly participated, earning Terra goodies for their efforts. These fun and lighthearted interactions spread smiles beyond social media, bringing the campaign’s spirit to life. Participants were thrilled to see their spontaneous performances shared on Terra’s social media platforms, amplifying their experiences even further.

Online engagement has been equally vibrant, particularly around campaign content created by Taaoma, one of Nigeria’s top content creators. Her hilarious skits, reflecting the joy in simple moments, resonated with thou-

MARKET INDICATORS

sands, sparking conversations and laughter across platforms. Fans embraced her unique take on the campaign, with the posts generating significant traction and shares.

Adding to the buzz, an Instagram Live session with Terra’s brand ambassador, Chioma Akpotha, attracted hundreds of viewers. During the live stream, Chioma passionately spoke about the power of smiling and spreading joy, encouraging participants to continue unwrapping their smiles every day. The session offered a chance for fans to engage directly, share their stories, and feel more connected to the brand.

The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference Basket of

Crudes

following: Saharan Blend (Algeria), 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).

L-R: Brand and Communications Manager, XEJet Limited, Juliet Atikpekpe and Chief Executive Officer

XEJet, Mr. Emmanuel Iza,during a media briefing on the Company’s new innovative development and facility tour in Ikeja, Lagos ... recently

Despite Significant Increase in Tax Expenses, Seplat Energy Declares N52.8bn Profit

Kayode Tokede

With tax expenses that grew significantly by 1871per cent to N313.94 billion in unaudited nine months financial year ended September 2024, Seplat Energy Plc, yesterday, still declared N52.8 billion profit after tax, which is about 12.5 per cent increase from N46.93 billion reported in the corresponding nine months of 2023.

The company in the result

and accounts to Nigerian Exchange Limited (NGX), stated that the income tax expense of N313.9 billion ($209.7 million) includes a current tax charge of $65.7 million (nine months 2023: $54.3 million) and a deferred tax charge of $144.0 million (nine months 2023: deferred tax credit of $27.3 million). The higher current tax this year resulted from higher taxable profit due to lower costs for the period.

According to the financial report, “The deferred tax charge in 9M 2024 was driven by the FX gains and underlift for the period which are excluded from petroleum profit tax (PPT) calculations, giving rise to the creation of a deferred tax liability. This contrasts with nine months 2023’s deferred tax credit which arose due to creation of deferred tax assets from the overlift and FX loss recorded in the period. The effective tax rate for the

period was 86per cent (nine months 2023: 25per cent).”

The indigenous oil and gas company listed on the Nigerian Exchange Limited (NGX) in its nine months unaudited results declared N366.7 billion profit before tax, representing an increase of 483 per cent from N62.85 billion declared in nine months of 2023.

The company showed its revenue from contracts with customers at N1.07ttrillion in nine months of 2024, a growth

of 124 per cent growth from N478.13billion reported in nine months of 2023.

According to the company, “In the first nine months of 2024, Brent crude oil benchmark price averaged $81.79/bbl, down two per cent on the average in the first six months of 2024, after weaker pricing in 3Q 2024, but flat on nine months 2023’s average of $81.96/bbl.

“The continued management of crude oil output by OPEC

member nations, the elevated geopolitical tensions and mixed macroeconomic developments, have all contributed to keeping average prices around similar levels to last year.

The company continues to benefit from oil price realisations at a modest premium to Brent, realising $82.89/bbl, an average premium to Brent of $1.10/bbl. Our realised price was relatively flat compared to the equivalent figure in 9M 2023 ($82.76/bbl).

PRICES FOR SECURITIES TRADED ASOF OCTOBER 29/24

FOCUS

Oando’s Cutting-edge Growth and Wale Tinubu’s Midas Touch

By dint of hard work, astute leadership and relentless, adroit visioning, the founding Group Chief Executive of Oando Plc, Wale Tinubu, has indeed berthed Africa’s leading indigenous energy solutions’ provider and is looking ahead, writes Louis Achi

With little question, Oando Plc, Africa’s leading indigenous energy solutions provider, has successfully lifted into the African and extra-continental energy services orbit powered by the cutting-edge growth and governance models birthed by the behemoth’s circumspect Group Chief Executive, Wale Tinubu.

Wale Tinubu’s entrepreneurial trajectory evokes memories of the story of the Greek myth in which King Midas turned anything he touched into gold. A current interpretation would mean an uncanny ability of making success or money in every venture. Today, he has built a global business empire that spans across the energy value chain.

The reason for this may not be far-fetched. His life story is a challenge to those who were born with the silver spoon, but, who as a result of lack of discipline and lack of focus, abused the privilege. At the same time, Wale Tinubu’s life is an inspiration for folks from humble backgrounds that they should never entomb their dreams, even in the face of seemingly insurmountable adversity

Under his able leadership, the company has recently hit a new milestone of $4 billion valuation, giving him merited bragging rights as one of Africa’s foremost entrepreneurs. To energy sector experts, this is not surprising. Wale Tinubu has navigated complex regulatory environments and economic challenges, demonstrating his ability to adapt and relentlessly thrive in uncertain situations.

Another sampler - just last week, the Oando Energy Resources Nigeria Ltd, announced it is targeting production 100,000 barrels per day of crude over the next five years and 1.5 billion standard cubic feet of gas.

The oil company made the disclosure when its delegation led by the Oando Managing Director, Ainojie Alexander Irune, met with Rivers State Governor, Sir Siminialayi Fubara, at Government House in Port Harcourt.

According to Oando, “We will continue to invest in the upstream. We have ambitions to deliver a 100,000 barrels per day production target over the next four to five years, and over 1.5billion standard cubic feet of gas. We can only do that in harmony. We can’t do it in a chaotic environment. And we have chosen this state as our base whilst we produce from three other states of Bayelsa, Imo and Delta.” There’s more.

Resulting from Wale Tinubu’s astute leadership, Oando Plc, has now been shortlisted by the Trinidadian government as one of three final contenders to take over the country’s state-owned refinery, Petrotrin.

The Trinidadian Finance Minister, Colm Imbert, speaking during a presentation of its national budget held on September 30, noted that among the initial 10 proposals, three companies had made the final shortlist including, CRO Consortium, a consortium of three Trinidadian companies, INCA Energy,

The bidding process began in February 2024, when the government of Trinidad and Tobago enlisted the services of US-based Scotia Capital to oversee the refinery’s procurement by inviting “expressions of interest.”

The refinery located in Pointe-a-Pierre, Trinidad had been closed since 2018, when the country’s Prime Minister, Keith Rowley noted that the refinery was recording losses of up to $2 billion per annum. If Oando eventually wins the bid, its footprints in the midstream oil sector would have been sealed and delivered.

This is coming after Oando Plc in August this year completed a $783 million acquisition of Nigerian Agip Oil Company (NAOC), thus increasing the company’s interest in the different joint venture assets. With that acquisition, Oando now controls over 40 oil and gas fields.

Wale Tinubu’s leadership panache is clearly characterised by his unique vision, strategic thinking, and innovative problem-solving. He has created strong subsidiary brands and businesses,

specifically starting from the downstream to the midstream and upstream sectors. His innate ability to navigate complex, tough business environments and make bold decisions has clearly been pivotal to Oando’s success and indisputably been instrumental in shaping Oando into the successful company it currently is.

Tracking back, Tinubu’s story began in 1990 as an innocuous attorney, with specialisation in corporate and petroleum law. He then co-founded Ocean and Oil Group in 1994, which later morphed into Oando Plc. Under his leadership, the company has blossomed through strategic acquisitions, including Unipetrol in 2000 and Agip Nigeria PLC in 2002 and has successfully transformed Oando from a petroleum marketing company to an integrated energy group.

Significantly, his unique leadership style is undergirded by a searing vision, strategic thinking, and innovative problem-solving leading him to create strong subsidiary brands and businesses, specifically starting from the downstream to the midstream and upstream sectors.

Not surprisingly, the emerging consensus is that his uncanny ability to

navigate complex business environments and make bold decisions has been key to Oando’s cutting-edge growth and ultimate success.

As it were, his revolutionary transformation of Oando Plc is a remarkable story of vision, strategic thinking, and bold leadership. Today, these qualities have cemented Oando Plc’s position as Africa’s privately owned oil giant. These facts cannot be overstated.

The Oando GCEO pioneered the development of Nigeria’s foremost natural gas distribution network and captive power solutions through Axxela Limited. He also introduced OVH Energy, which at the time boasted one of the largest distribution foot-print in Nigeria. The company has now exited the downstream.

So, there is no doubt that Oando plc has made significant strides in its 30-year entrepreneurial trajectory, since it was cofounded by Wale Tinubu and Omamofe Boyo as Ocean and Oil Group.

It has expanded since then with massive growth, including listing on the Nigerian Stock Exchange (NSE) in 2002 and upscaling up its upstream operations through Oando Energy Resources as well as developing Nigeria’s foremost natural gas distribution network.

From a meagre crude oil production of 4,000 bbl/day, it has now grown to the production of about 50,000 bbl/day, expanding reserves from 100 mmboe to roughly 500 mmboe in the first instance to over 1 billion barrels reserves currently. This of course excluding its latest disclosures and projections in a meeting with the governor of Rivers State last week.

The company has launched the Oando Clean Energy Limited for renewable energy solutions and has implemented cutting-edge technology for improved efficiency.

Oando’s remarkable journey demonstrates Wale Tinubu’s commitment to growth, innovation, and community development, solidifying its position as a leader in Africa’s energy industry.

Clearly, there are more nifty landmarks to be conquered in the horizon by the tireless visioning and governance nous of Wale Tinubu. Perhaps not unlike the swashbuckling adventurers who conquered unexplored territories in the tough American West, the Oando Plc Group Chief Executive revels in pushing frontiers.

This ingrained trait remains his defining trait. Today, the inimitable integrated energy services industry guru is still blazing the trail. Unmistakably, powerful visions draw in ideas, people and other resources. They create the momentum and will to make change happen. They inspire individuals, complementary organisations and institutions to commit, to persist and to give their best.

Keying into this enduring philosophy, unassuming Wale Tinubu has also deployed impeccable professionalism, discipline and persistence to change the traditional narrative of the energy sector.

And he is looking ahead.

Wale Tinubu

an American company, and Nigeria’s Oando Plc.

Understanding Tinubu’s Tax Bills of Reliefs for Businesses, Nigerians

Dare Adekanmbi

The transmission of four bills that aim to overhaul Nigeria’s tax system to the National Assembly two weeks ago by President Bola Tinubu has sparked debates in the polity about the purpose of the bills. Some have expressed fears that the bills may encapsulate proposals calling for a raise in tax rates in a way that will further burden the citizens. Some Nigerians have received the news with mixed feelings, while others have chosen to wait for details before commenting on the development.

There is no basis to entertain any fear about these bills. If anything, Nigerians are going to commend President Tinubu for focusing on laying a solid foundation that will ensure fiscal stability of the country. When Nigerians get to know the details of the in the documents, they will know that the president is actually working to bring reliefs to them and their businesses.

The four executive bills seek to tidy up the fiscal policy and legislation environment in the country. They are: Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill. These bills seek to translate the recommendations by the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele, into implementable legislative framework for the benefits of Nigerians.

It is common knowledge that one factor which has continued to impede efficiency in Nigeria’s tax system and has negatively impacted revenue is multiplicity of taxes. President Tinubu, in his inauguration speech, had pledged to address the issue of multiple taxation and remove all hurdles against investment in the country. Multiplicity of taxes is one of the issues that the Nigeria Tax Bill seeks to end. This will certainly bring reliefs to corporate Nigeria. Imposition of tax by more than one agency or level of government, without a shadow of doubt, constitutes a chokehold on businesses, especially micro and small businesses as well as individuals.

How will this bill address multiplicity of taxes? In Nigeria today, laws dealing with various aspects of taxation are scattered in different legislations. Some of these laws are: Companies Income Tax Act, Personal Income Tax Act, Capital Gains Tax Act, Value-Added Tax Act, Stamp Duties Act, Petroleum Profits Act, Tertiary Education Fund Act, Petroleum Industry Act and so on. In addition to the tax-specific laws, there are a plethora of tax provisions in non-tax laws such as the NLNG Act, Tertiary Education Trust Fund Act, NASENI Act, Lottery Act, Companies and Allied Matters Act, etc. The list is seemingly endless.

In enforcing these disparate tax provisions, unintended multiple taxation occurs and this is one of the things that the bill seeks to address. The Nigeria Tax Bill aims to codify of all taxing provisions into one single document to be known as the Nigeria Tax Act when passed into law. In the bill, chapters are devoted to the various tax types in a simplified format. The proposed tax law is also written in a simple language that anyone with basic literary education can read and understand. The complexity of the extant laws, for instance, is such that it will be pretty difficult for a Professor of Mathematics to compute his personal income tax on his own because of all the inter-twinning provisions that will befuddle him as to what income is taxable or what deduction is allowable. All these complications and complexities have been removed in the new proposals. In the proposed law, companies doing businesses within the country have been re-classified into two: small and large. This is done in accordance with the companies’ respective turnover thresholds. A company will be deemed small if its turnover is N50m or less in a year. Under the extant law, any company which records a turnover of N25m or less is not required to pay Companies Income Tax (CIT). In the new tax bill, companies with yearly turnover that is up to N50m will not pay CIT. As regards large companies, that is, those whose turnover thresholds are above N50m, there is a proposal in the bill to give some relief to them through a significant reduction in their CIT rate. The objective of this succour for

Chairman FIRS, Zaccheus Adedeji

such companies is in line with President Tinubu’s avowed commitment to protect small businesses and eliminate inhibitions that negatively impact entrepreneurship in the country. Perhaps the game-changer among the several pleasant provisions of this document is what the bill seeks to do with VAT. It is an eloquently testimony to the fact that President Tinubu has listened and harkened to the complaints by Nigerians, particularly the ordinary Nigerians who are bearing the substantial brunt of the initial pain of the government’s economic reformation policies. In the proposed law, VAT will not be charged on all items that have direct existential impact on the common people. Items such as food, medicals, education, transport business and agriculture are not chargeable to VAT. For instance, tuition fee or rent paid by proprietors or purchases made by school owners for the purpose of the business of educating Nigerians will be free from VAT. It is the same for owners of hospitals, those in agric business as well as those who buy vehicles for transportation. These are the areas where the lives of the common people will be significantly positively affected, especially in view of the temporary pain of the ongoing reforms.

“The general principle of the four tax bills is not just to modernise the tax system in the country, but also to ensure that relief is created for ordinary Nigerians and businesses.”

In addition, certain input VAT which hitherto is not possible to claim under the current laws can now be claimed.

Another relief the president has put in the bill is that for VAT refunds will be made within 30 days upon completion of paper work by the such companies or entities. Already VAT is not being charged on diesel and petrol. The president had in July this year directed the suspension of duties, tariffs and taxes on importation of food commodities as part of measures to arrest the rising cost of living.

It may interest many to know that VAT rate of 7.5% currently being charged in Nigeria is the lowest on the continent and one of the lowest in the world. Madagascar and Morocco charged 20% VAT in 2022, while it is 19.25% in Cameroon. Many countries of the world, recognising the importance of tax revenue in providing public services, have this year reviewed their VAT upwards with one of the most striking examples being Saudi Arabia which upped its rate from 5% to 15% in July.

Further to the Nigeria Tax Bill, the table of tax rates for individuals has been restructured in a way that brings huge respite to low-income earners. It is worth mentioning that the Federal Inland Revenue Service (FIRS) does not collect taxes from individuals. It is within the jurisdiction of states’ revenue authorities to collect such income tax from individuals. The only set of individuals who pay personal income tax to FIRS are members of the Armed Forces, members of the diplomatic corps and foreigners earning income in Nigeria. In the new bill, individuals whose annual income is N800, 000 after the deductions of pension and deductible items will not be required to pay personal income tax (PAYEE). However, the elite who earn fat annually will pay more. This is in line with the global principle of progressive taxation which takes more tax from the high earners and a little lower tax from middle earners, while low income individuals pay very little. The pledge of Mr President is that his administration’s fiscal policy will

tax prosperity and not poverty.

The second bill, the Nigeria Tax Administration Bill, basically seeks to consolidate administrative provisions for all taxes. This bill harmonises all tax administration issues such as registration, filing, payment, dispute resolution, etc for all tax-types and revenue authorities. It also clearly delineates the roles and objectives of all tax authorities in the country as well as their relevant jurisdictions. The aim of this bill is to promote the ease of tax administration, lessen tax compliance burden on the citizens and improve the ease of doing business in the country.

As for the proposed Joint Revenue Board (Establishment) Bill, this is seeking to replace the Joint Tax Board (JTB) which has been wobbly since its establishment because it was built on quicksand. The proposed replacement not only addresses the glaring shortcomings in JTB, but also retains the joint control of the body by the federal and state governments. It also seeks the creation of the office of Tax Ombuds to resolve all complaints that may arise from the operations of JRB. Today, we cannot run away from the cryptocurrency ecosystem because it is the in-thing. But as it stands in Nigeria today, there is no law that regulates cryptocurrency operations. One key highlight of the Nigeria Tax Bill is that it seeks a legislation to regulate the digital currency market said to be worth $1trillion globally. The bill, when passed into law, will arrest the revenue the country has haemorrhaged in the sector. It will be recalled that one of the biggest cryptocurrency platforms, Binance, is in court for evasion of taxes among other offences.

The Nigeria Revenue Service (Establishment) Bill is primarily proposing a change of name for the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service. This bill is one which seeks to correct the error of 2007 when Nigeria’s apex tax authority, FIRS, became autonomous as an operational arm of the Federal Board of Inland Revenue (FBIR). The mandate of FIRS is to administer tax laws to assess, collect and account for revenue accruable to the federation and not the Federal Government. Especially when we consider the current sharing formula on VAT revenue, only 15% goes to the Federal Government. The remaining 85% is shared between the states and the local government areas. Today, tax revenue from FIRS is the main reason the 36 states and the local government councils smile to the banks monthly during their Federation Account Allocation Committee (FAAC) meeting. A total of N17.8trillion accrued to the Federation Account between January and July this year. FIRS tax revenue alone contributed N11.7trillion, representing 65.8 percent of the total money disbursed to the federal, state and local government councils to meet their needs.

Giving such a critical agency an appellation which suggests it is collecting tax solely for Federal Government is improper and must be corrected. Another error in the current name is contained in the word ‘Inland’ which restricts the agency to the collection of taxes within the interior territory of the country. Nigeria has huge revenue to collect from offshore transactions and only a repeal of FIRS (Establishment) Act 2007 to pave the way for the Nigeria Revenue Service (Establishment) Act can make that happen. Those suggesting that the proposed name change will translate to other revenue agencies being subsumed or merged with NRS need to get copies of the bill to clear their doubt.

The general principle of the four tax bills is not just to modernise the tax system in the country, but also to ensure that relief is created for ordinary Nigerians and businesses. And so, for insulating the poor from VAT payment through exemptions of good and services that directly impact their lives, for making VAT neutral for businesses through enabling deduction of input tax from out VAT, President Tinubu has demonstrated fidelity to his commitment that government policies must allow the poor to breathe and not suffocate. Tinubu deserves to be applauded as a leader who listens to the yearnings of the citizens.

• Adekanmbi is the Special Adviser on Media to the FIRS chairman.

PRESENTATION OF CHEQUE TO WINNERS OF THE HACKATHON...

L-R: Tech Ecosystem & Venture Sourcing Officer, First City Monument Bank (FCMB), Mr. Nsembo Udoh; Second runner-up of the FCMB Agritech Hackathon, Ogah Abeni of CarbonEx; Head, Agribusiness & Structured Trade Commodity Finance at FCMB, Mr. Daniel Olorunsuyi; winner of the Hackathon, Ifeoluwa Olatayo of FarmSlate; Divisional Head, Agribusiness at FCMB, Mr. Kudzai Gumunyu and the first runner-up, Sufiyanu Ibrahim of AgroGuardians, during the presentation of cheque to winners of the Hackathon in Lagos ... recently.

Shettima Wants Synergy Between Govt and Media to Move Nigeria Forward

Advises editors to be watchdogs, allies in nation-building Anaba: We came to discuss national issues Nigerian media committed to deepening nation's democracy, says NGE scribe

Deji Elumoye in Abuja

Vice President Kashim Shettima yesterday canvassed a stronger collaboration between government and the media in carrying out their shared responsibility for Nigeria's national development journey.

Describing media leaders as the crème de la crème and conscience of the nation, he made a strong case for a balanced partnership to drive national unity and economic growth.

Welcoming the leadership of the Nigerian Guild of Editors which paid him a courtesy visit at the State House, Abuja, the Vice President pledged government's support to ensure the sustainability of the fourth estate of the realm.

Shettima noted that the time has come to prioritise governance over political considerations, just as he called for partnership with the media.

According to him, “Let us work together for the nation. What binds

us together supersedes whatever divides us. We are now in the period of governance and not politics."

The Vice President acknowledged the economic challenges confronting the media, pledging the government's support to sustain quality journalism.

"My heart bleeds for the Nigerian media because of the dwindling economic fortunes they face. Be rest assured that we will do whatever it takes to support the media in continuing their work," Shettima said.

While insisting on balance and objectivity in their reportage, the Vice President urged the editors to maintain their role of a watchdog, while supporting national development.

"When we do good, please commend us. When we are going astray, guide us because we have to salvage this nation; not for our own sake but for the sake of our children and grandchildren," he stressed Responding, NGE President, Eze Anaba lauded the Vice President's

commitment to transparent governance, particularly in explaining government's economic policies as Chairman of the National Economic Council (NEC).

"You have been prolific in talking about the state of the economy in your responsibility as the Chairman of the National Economic Council," Anaba said.

He further emphasised the media's readiness to partner with the government, while maintaining its independence.

The NGE President also announced that the 20th Edition of the All Nigeria Editors Conference (ANEC) is scheduled for November 7 to 9 in Yenagoa, Bayelsa State.

Speaking with newsmen after the meeting, Anaba, who is the Editor of Vanguard Newspapers, said the Guild briefed the Vice President on its forthcoming conference to be held in November, in Yenagoa, the Bayelsa State capital.

The NGE boss said issues of national

importance and the commitment of the Guild to upholding democratic principles were also discussed.

On why the NGE met with the Vice President, Anaba said, "We came to brief him (Shettima) about our forthcoming conference, and also to discuss some national issues and to exchange views and also to tell him of our commitment to democracy and all that."

Asked whether there were further discussions on the programme the Guild was inviting the Vice President for, Anaba said that apart from seeing Shettima, NGE would also like to meet with President Bola Tinubu and invite him to the conference, adding that the meeting with Shettima was the first point of call.

Also speaking to newsmen, the NGE Secretary General, Iyobosa Uwugiaren said they were at the State House to intimate the Vice President on their forthcoming conference in November. He said: "First, we're here to let him know the focus of our coming

Sanwo-Olu: I Can’t Be Enjoying Immunity and Still Brief Lawyer on Non-existent Case

Says alleged suit against EFCC disingenuous

Alex Enumah in Abuja

Lagos State Governor, Babajide SanwoOlu, last night, reacted to reports that he had instituted an anticipatory suit against the Economic and Financial Crimes Commission, saying he couldn’t be enjoying immunity and still briefed a lawyer on non-existent corruption matter.

Sanwo-Olu, in a statement by the Attorney General of the state and Commissioner for Justice, Lawal Pedro,

SAN, however, dismissed the report as disingenuous.

The governor wrote: “Our attention has been drawn to the news circulating in a section of the media, titled: ‘SanwoOlu Sues EFCC over alleged plan to arrest, prosecute him after tenure.’

“We need to clarify that Mr. Babajide Sanwo-Olu, at no time, sued or briefed any legal practitioner to file a suit on his behalf concerning the above subject matter.

“Also, it is disingenuous for the

governor, who enjoys immunity as conferred on him by the Constitution and has almost three years ahead of him to brief any lawyer on this kind of matter.

“To the best of my knowledge and my inquiry confirmed that the EFCC is not investigating the Governor and has never invited him or threatened arrest of any member of his staff, domestic or otherwise.”

Sanwo-Olu, however, disclosed that, “We are currently investigating

how the case came to be without our knowledge.

“For the avoidance of doubt, Mr. Babajide Sanwo-Olu has been an exemplar in terms of service delivery, prudent and judicious management of the public resources.

“Therefore, Mr. Babajide Sanwo-Olu who is busy working assiduously on how to improve the living conditions of all Lagosians does not have anything to fear when he eventually leaves office at the end of his tenure in May 2027.

Stakeholders Seek Unified Digital Taxation for Livestock Sector

James Emejo in Abuja

Stakeholders under the umbrella of the Presidential Livestock Reforms Implementation Committee (PLRIC) have urged the federal government to float a unified digital taxation for the sector. They also called for streamlining of regulations to avoid overlap to support investment in the sector.

These were part of recommendations contained in

a communique issued at the end of a two-day consultative workshop to find lasting solutions to challenges in the sector.

PLRIC also called on Presidential Tax Reform Committee to consider their recommendations to boost investments in sub-sector.

Headed by former President, Academic Staff Union of Universities (ASUU), Attahiru Jega, the stakeholders, comprising

400 expert groups, businesses and academia, advocated stricter measures should be implemented to curb smuggling, while regulated importation should be allowed to stabilise supply.

They urged the federal government to strengthen the existing National Animal Identification and Traceability (NAIT) system to address insecurity and market standards for livestock products.

The gathering also identified the supply of grains, forage, pasture and animal feeds as areas the government must pay attention to attract the needed investment in the livestock business.

They stressed that to mitigate the challenges confronting the livestock business in the country, stricter measures should be implemented to curb smuggling, while regulated importation should be allowed to stabilise supply.

conference, Nigerian editors conference that is taking place in Yenagoa. Of course, the focus of our conference this year is about the economy., it's about security, it's about energy, it's about the state of the media in Nigeria.

"And we believe that the Vice President and the President of Federal Republic of Nigeria have a role to play. And so we came here to brief them. We want them to be part of the conversation in Yenagoa. I'm sure they will honor us with their presence. The conference is starting on the November 7, and we're expecting all the leaders of the Nigerian Mass Media at that conference.

"So, the conference is coming up at the very critical moment of our country, and we believe that there is need for us to continue to discuss, continue with the conversations on

how to deepen our democracy, on how to find solutions to the state of present economy in Nigeria. And we believe that the presidency, when we talk about Presidency, the President and the Vice President, have a role to play, and that's why we came here.

"Of course, the present issues will also come up at our conference, but one thing we want to assure Nigerians and the President is that the media are committed to the democracy. Of course, as you all know, we are not political party. Government takes decisions almost on a daily basis, but it is the responsibility of the media to hold government to account.

"But one thing we must tell is that, Nigeria media, we are committed to democracy. We are committed to good governance and that they can take home to the bank."

Boat Accident: House Urges NIWA to Set Standards for Boat Construction, Licensing of Boat Builders

Chinedu Eze

World's top aircraft manufacturer, the Boeing Company, has invited the Minister of Aviation and Aerospace Development, Festus Keyamo, to the forthcoming Airline Economics Conference holding in Dublin, Ireland, from January 12 through 15, 2025.

Keyamo would also use the opportunities of the conference to meet with leasing companies, thereby fostering the ministry’s plan to ensure successful dry leasing arrangement for Nigerian airlines.

The letter dated October 24, 2024, signed by Commercial Sales Director, Africa Sales, Boeing Commercial Airplanes, Moore Ibekwe, commended Keyamo for his work at the ministry.

The statement hinted that development under the minister’s leadership, to enhance the lives of Nigerians through an improved aviation industry was noticeable.

Boeing stated that following the minister’s visit to its facilities in the United States earlier in the year, the press coverage on the company’s activities had been remarkably positive, hoping to capitalise on the positive momentum in the spirit of the Memorandum of Understanding (MoU).

The letter emphasised that during the minister’s visit, one of the follow up items was to organise a forum

during the Airline Economics Conference whereby both parties could leverage the relationships with leasing companies’ leadership for the minister to meet them and update them personally on the strides that the Federal Government of Nigeria was undertaking to improve the aviation industry.

The letter added: “As we all agreed, in the presence of our Senior Vice President of Sales, it will be best if they heard from you firsthand. On our side, we are coordinating the efforts with lessors to firm up dates and timing for these meetings.

“We would like to keep the delegation small and focused on Nigerian airlines seriously considering leasing of aircraft in the next 24 months. It is important that the airlines we bring to the forefront are prepared, so that we can demonstrate real business opportunities to keep the attention of the lessors.”

Boeing further stated that it was also working with several banks in Nigeria and Africa Trade Investment Development Insurance (ATIDI) to develop a credit enhancement product specifically for Nigeria to facilitate operating leases.

The US-based company stated this would lead to the provision of an additional layer of security to global lessors who may have shown interest in the region.

LAUNCH OF HEINEKEN 45CL AND 45 COLLECTION...

Godwin Obaseki: We Have Laid Solid Foundation for Edo’s Economic Growth

The Edo State Governor, Mr. Godwin Obaseki, yesterday said his government, over the last eight years, focused on laying the foundation for a progressive and prosperous State that ranks among the leading sub-nationals on the African continent.

Obaseki who spoke at the commissioning of the Edo Agriculture Hub, on Airport Road, Benin City, said the project is part of efforts to

revitalize agriculture to boost the State’s economy, tackle food security, and drive sustainable development in the State.

The governor was joined at the commissioning by his deputy, Marvellous Godwins Omobayo; former Governor of Edo State, Chief Lucky Igbinedion; Chief of Staff to the Governor, Osaigbovo Iyoha; candidate of the Peoples Democratic Party (PDP) in Edo

2024 governorship election, Dr. Asue Ighodalo and chairman of the Edo PDP, Dr. Anthony Aziegbemi, among others.

Obaseki, who noted that his government has de-risked agriculture and is supporting farmers to boost agricultural development, said that if the nation must turn around its economic fortunes, the country must prioritise investment in agriculture and development of the sector.

He said, “I want to thank the former governor of Edo State, Chief Lucky Igbinedion, as we have achieved a lot because we continued with some of his successes.

“We commissioned the Edo State College of Agriculture and Natural Resources, Iguoriakhi, and through that project laid a solid foundation for a great Edo State and a State that is currently ranked amongst the leading countries in Africa.

House Considers Sanction Against Ikwechegh over Assault on Cab Driver

Adedayo Akinwale in Abuja

The House of Representatives has started to consider taking action against the member representing Aba North and South Federal Constituency, Hon. Alexander Ikwechegh for assaulting a cab driver, Mr. Stephen Abuwatseya.

The resolution of House followed a point of order moved by Leader of the House, Prof. Julius Ihonvbere, under matters of privilege, saying there was need for the House to probe the incident, adding that the image, integrity and credibility of the Green Chamber was at stake.

While Citing Order 5 of the House standing rules, Ihonvbere argued that the House could not sit by and watch any form of misconduct and aberration

from Ikwechegh that could ridicule the lawmakers before the eyes of Nigerians

Citing Order 8 Rule 6 of the House standing, Ikwechegh said he was sorry for his actions.

"I sincerely apologise for my words and actions during this incident. I recognise the distress and frustration this has caused Citizen Abuwatseya, his family, and the public at large.

“As a public servant, I understand the weight of my role and how my words can impact others," he said while reading a prepared speech.

The lawmaker stressed that while he was human and not infallible, he remained accountable for his actions.

“Citizen Abuwatseya and I have explored alternative dispute resolution

methods to address this issue and have reached a respectful resolution, which I am committed to following through.

"Furthermore, I extend my heartfelt apologies to the Inspector General of Police, recognising the unintended disparagement my remarks may have caused to his person, his office, and the entire institution. I reaffirm my respect for the Nigerian Police Force and the Inspector General's commitment to maintaining law and order.

"Additionally, I extend my sincere apologies to the leadership and members of this House and the National Assembly as a whole for any deficit in goodwill this incident may have caused.

"I am aware that my actions reflect

not only on myself but also on this esteemed institution and the trust that the public places in us. This incident has been a humbling reminder of the necessity for restraint and self-control, especially in challenging circumstances.

“I sincerely apologise for any pain or discomfort my actions may have caused, and I am committed to learning from this experience to grow into a better citizen and a more empathetic representative of the people.

"This experience is particularly disheartening given my recent achievements in constituency engagement, including many interventions in health, agriculture, education, and economic empowerment for my people.”

Court Invites Parents of 19-yr-Old Boy Docked for Cyber Crime

Justice Ayokunle Faji of a Federal High Court in Lagos, has ordered the appearance in court of the mother of a 19-year-old painter, Chinonso Udeh, charged with cybercrime.

The defendant, was charged by the Economic and Financial Crimes Commission (EFCC), on one-count bordering on cybercrime.

He pleaded guilty to the charge. After his plea, the prosecutor, Mr S.I Suleiman, conducted a review of the facts of the case through a witness, Mr Abdulraman Mohammed, an operative with the commission.

The witness narrated to the court how the defendant was arrested when the EFCC got intelligence of

an organised cybercrime syndicate at the lekki area of Lagos. He told the court that a surveillance of the area was conducted, and a subsequent sting operation carried out, during which the defendant and others were arrested.

The witness said an iphone XR model was seized from the defendant, and when analysed, some incriminating documents were printed out, and the statement of the defendant, consequently taken under caution.

He, then urged the court to discharge the witness, and proceed to convict the defendant based on his guilty plea, and the evidence tendered by the EFCC.

Justice Faji, then discharged the

witness, and ordered the defendant who was sitting, to stand up in the dock

When on his feet, he was asked to tell the court about himself.

The defendant who could not speak audibly all the time, told the court that he was currently learning painting, and was residing with a church member.

When asked about his parents, he told the court that he is a native of Onitsha in Anambra, adding that his mother, Mrs Marther Ude, resides at Achaputa layout in Onitsha.

The court then asked the defendant "who is here with you in court" and in response, the defendant pointed to a young lad sitting in the courtroom with braided hair.

Justice Faji then asked the young fellow to stand up and introduce himself as well as his relationship with the defendant.

In response the young man told the court that he is not related to the defendant but only acting as a friend since the defendant appeared deserted as no one wanted to escort him to court.

Apparently taken aback by the conduct and demeanor of both the defendant and his alleged friend, the court queried how a teenager could be allowed to roam carefree.

"So, at 19, you are not with your parents? Nobody followed you to court but only your ‘friend’ with plaited hair, so, should I think this defendant is responsible?" he said

“We are here to continue with the consolidation process of our economy. When you talk about the economy of Edo State and Nigeria, it's based on agriculture as it is ranked as one of the largest contributors to our Gross Domestic Product (GDP).

“If we are going to turn around the fortunes of Nigeria and Edo State, the priority must be agriculture. It's more important today than it was in our history as we took food security for granted. We never thought that there would be a day when many people would not be able to eat one meal a day. This is what is confronting us in the country today.”

Obaseki continued: “In Edo State, we will show the way and not follow anybody. Part of what we are doing here today is part of the process to revitalize agriculture in the real sense of the world. Our biggest asset in Edo State is land.

“If we must feed the population of Edo State, we have to begin to rethink how we utilize our land in Edo State to provide food for our people. In the past, we imported food but this time around, we don't have such money.

“Our challenge as a State is how to produce our own food. We must produce all we eat and produce in abundance so that we can sell some for those that don't have our kind of soil; the thinking will start from the government.”

According to him, “We have to

emphasize that food production is important and must have food security to be secured as a country. We can’t continue to run a country while depending on others outside to feed us.

How will you explain that a country like Nigeria spends over $500 million a year to import dairy products? We can rare our own cattle and build our dairy industry but the government needs to provide leadership.

“Edo State Government is providing that leadership and thinking as we have created a conducive environment for it to happen. This hub was due to the thinking.

“We decided to bring everybody that has to do with food production into one place, leading to the birthing of this agricultural hub that we are commissioning today.”

On facilities in the hub, Obaseki stated, “Everything relating to food production and cultivation is located here. We have 15 agencies and programmes located at the Edo State Agricultural Hub. We have enough space to expand and accommodate more programmes in the next 10 years.

“Key to agriculture is training and we have built a lot of training capacity and capabilities here in this hub. We have a lot of training rooms, library, and meeting rooms where farmers can come to get information.”

Olu of Warri Disbands INYC Leadership Over Failure to Adopt New Constitution

Sylvester Idowu in Warri

The Olu of Warri, Ogiame Atuwatse III, has disbanded the executive of Itsekiri National Youths Council (INYC).

The monarch announced the dissolution on Monday night during a meeting he summoned to stop the lingering crisis facing the Itsekiri youths’ body.

Itsekiri Youths Assembly had been bogged down with succession processes following failure to adopt a new constitution and conduct election to elect new executives at the National and chapter levels.

Olu of Warri expressed disgust that the process of having executive position in the INYC for about 30 years has been by selection of persons loyal to certain leaders.

The Warri Monarch, at the wellattended Itsekiri Youths Assembly, also declared that nobody above age 40 should be operating as youth in Warri Kingdom. He immediately appointed Presidents of National Association of Itsekiri Graduates (NAIG) and National Association of Itsekiri Students (NAIS) as the core of a committee to draft new constitution for INYC.

The committee, according to the monarch, will have Chiefs Omolubi Newuwumi and Wilson Olley as working advisers. According to the Warri Monarch, the constitution drafting committee, which is likely to have more members, has up till January 2025 to conclude its assignment for a new executive council of INYC to be elected.

Wale Igbintade

L-R: Finance Director, Nigerian Breweries, Plc., Ben Wessels Boer; Portfolio Manager, Premium Brands, Nigerian Breweries Plc., Maria Shadeko; Managing Director, Nigerian Breweries Plc. Hans Essadi; Corporate Affairs Director, Nigerian Breweries Plc., Sade Morgan; and Marketing Director, Nigerian Breweries Plc., Emmanuel Oriakhi, during the Launch of Heineken 45cl and 45 Collection at Lagos Fashion Week...recently

UBA@75: UBA MAKES MORE MILLIONAIRES IN PROMO DRAW...

L-R: Group Head, Retail and Digital Banking, United Bank for Africa, Shamsideen Fashola; one of the winners in the ongoing UBA@75 Legacy Promo; Regional Head, Lagos, UBA Plc., Aminat Tunji Akinwande; and Head, Retail Products and Sales, UBA, Prince Ayewoh, during the promo raffle draw dedicated to reward customers in commemoration of the bank’s 75th anniversary, held in Lagos at Ikeja City Mall, Lagos…last Saturday

Tinubu Lauds Armed Forces for Tackling Nigeria's Multiple Security Challenges

donates N500m to Nigerian Legion Senate chides military over non-payment of benefits to 174 dead officers

Deji Elumoye and. Sunday Aborisade in Abuja

President Bola Tinubu has commended the Nigerian Armed Forces for their unwavering efforts towards combatting the various security challenges bedevilling the country.

Tinubu spoke at the 2025 Armed Forces Remembrance Day Celebration Emblem and Appeal Fund Launch at State House, Abuja.

The federal government announced a N500 million donation to the Nigerian Legion. The donation was disclosed by Secretary to the Government of the Federation (SGF), Senator George Akume.

But the senate Committee on Code of Conduct, Ethics and Public Petitions described as unacceptable the delay in the payment of insurance benefits to dead and retired military personnel.

Tinubu said during the Armed Forces Remembrance Day ceremonies that without the military's effort to stabilise the country, the administration's reform policies and economic theories would

have little impact.

According to him, “No matter what economic theory we propagate or postulate, if there is no security, we cannot promote peace and development.

“I am grateful to all of you on behalf of the country. The challenges are severe, but you are this country's first line of defence. Thank you for your patriotic commitment to Nigerian unity, stability and progress.”

The president emphasised that the welfare of members of the security forces would remain the government's top priority. He extolled the men and women, who had paid the ultimate price in defence of the country, assuring that their sacrifices will not be in vain.

He said, “We came today to remember our fallen heroes, men and women, who have sacrificed their lives for this country's unity, stability and progress.

“We are committed to their values, principles, beliefs, and the unity and strength of this country as we pass on a banner without stain to the next generation.

“It is a great honour for me to launch the emblem once again. The welfare of our men and women in the Armed Forces will continue to be our top priority. I want to thank all of you.”

Earlier, Minister of Defence, Abubakar Badaru, thanked Tinubu for his continued support for the welfare of the armed forces, including the serving, retired, and fallen heroes, and their relatives.

Badaru stated, “Let us remember that unveiling this emblem serves as a beacon of hope and a reminder of our collective responsibility to uplift our armed forces and their families.

“Therefore, you will agree that the Armed Forces Remembrance Day is more than just a commemoration; it is a call to action.

“Hence, this appeal fund we are launching today to provide essential support to our veterans and their families becomes crucial.

“The funds raised will directly contribute to welfare programmes, offering vital services, such as healthcare, education, and financial assistance.”

National Chairman of Nigeria Legion, Major General Abdulmalik Jibril (rtd), praised Tinubu for his continued support for the legion and their families, especially for the unprecedented cash donation.

Jibril said with the donation, “Their families would not be left in the streets and will not be beggars.”

Meanwhile, the senate frowned on the delay in the payment of insurance benefits to dead and retired military personnel. It said the fact that 174 families were currently facing the brunt of such delay in the Nigerian Airforce (NAF) alone was unacceptable.

The senate also prevented NAF officers, led by Wing Commander Mohammed Saleh, from arresting Master Warrant Rukayat Ajoke Ishola, who petitioned the upper chamber over non-payment of her late husband’s insurance benefits.

The petitioner had told the senate panel that the alleged maltreatment by the air force authorities had subjected her to untold hardship since the demise of her husband, Warrant Officer Daramola

Intelligence Sharing Lifeblood of Crime Prevention in W’Africa, Says IG Egbetokun

Inspector General of Police, Kayode Egbetokun, yesterday,said effective information sharing was the lifeblood of security agencies' efforts to prevent, investigate, and prosecute crimes.

Egbetokun also averred that intellegelence sharing enablessecurity agencies to identify patterns, and anticipate potential threats.

He said this in Abuja during the official opening of a three-day workshop on West African Police Information Systems (WAPIS), organised by Ministry of Police Affairs, in collaboration with the Nigeria Police Force.

The workshop was themed:

"Interagency Collaboration on Information Sharing Among Law Enforcement Agencies in Nigeria."

Represented by Deputy Inspector General of Police in charge of Force Intellegelence Department, Dasuki Galadanchi, the IG said in today's world, where criminals had increasingly grown in sophistication and were constantly collaborating and networking, the law enforcement agencies must match their level of advancement and innovation in order to stay ahead.

He said as law enforcement professionals and stakeholders in the criminal justice sector, they acknowledged that the safety and security of their communities relied heavily on the effective and timely

exchange of critical information.

Each agency, he said, contributed unique insights, data, and experiences which when shared, could collectively foster a comprehensive understanding of the threats that imperil national and regional security.

"As we gather in this collaborative spirit, we must be mindful that our collective efforts are vital to tackling the complex security challenges we face today as a people with common interest.

"Therefore, the importance of information sharing among security agencies cannot be overemphasised as it is a very crucial aspect of our collective efforts to combat crime and ensure public safety.

"When we share information, we

multiply our strengths and minimise our weaknesses. We create a web of knowledge that is far more powerful than the sum of our individual efforts," he said.

In his keynote address, the Minister of Police Affairs, Senator Ibrahim Gaidam, said there was an urgent need for all the law enforcement agencies to synergise on the future of the sub regional security architecture with all the required speed and political will.

He noted that with the rising security challenges and threats in the country, there was no better time than now to build on strengthening inter agency collaboration through sharing of vital intelligence and classified information to curb the menace.

Taiwo, in April 2016.

The panel’s displeasure followed the consideration of a petition filed against NAF by Master Warrant Officer Rukayat Ishola.

Ishola had alleged that payment of insurance benefits of her late husband was deliberately delayed by NAF and that her child was not allowed to enjoy scholarship, like other children of late men and officers of the military.

The widow said she was maltreated by some officers after the demise of her husband in April 2016 and that the development made her to abandon her duty post as a way of saving her life.

She said, “I was forced and

traumatised to go away without leave (AWOL) because my late husband 's insurance benefits was deliberately not paid.

“My child was denied school fees payment by NAF in line with military tradition and unwarranted persecutions from some officers and life threatening posting."

Defending the allegations on behalf of NAF, Director of Legal Services, Wing Commander Mohammed Saleh, said the insurance benefits of the late Warrant Officer Daramola Taiwo was not deliberately delayed, as there were about 174 families in the airforce experiencing such delays in payment.

ActionAid: 2024 IMF/World Bank Meeting, a Damp Squib Short of Addressing Issues

Michael Olugbode in Abuja

ActionAid has said the 2024 International Monetary Fund (IMF) and World Bank Annual meetings in Washington, D.C., were a damp squib that fell short of addressing the bread-and-butter issues for people living in poverty.

The IMF forecasts of high debt and slow growth, especially among Global South countries, and its recommendations for even more fiscal adjustments, public sector wage rationalisation, and the social acceptability of structural reform are testament to their continued failure and inability to show relevance for the global majority in the 21st century.

The Global Economic Justice Lead at ActionAid International, Roos Saalbrink, said: “We see once again how the IMF is not fit for purpose and unable to offer real solutions to the economic crises they helped to create.

“The decision to stick to old ways

and pursue harmful policies, such as public sector wage cuts, is a blatant disregard for decades of evidence that has shown that this does not work and for rapidly growing inequality.

“The IMF seems unable to see reality outside its econometric models. Sadly, the lack of meaningful action to arrest the debt crisis and put an end to austerity could spell doom for the global majority, whose voices demanding a break from the failures of the past are yet again ignored."

On her part, the Policy Specialist at ActionAid UK, Jessica Mandanda, said, “It has been 80 years, and we find ourselves, yet again, at odds with the International Financial Institutions, with consistent contradictions in what they say and what they do.

“What is crystal clear is that the IMF is completely out of touch and disconnected from the lived realities of billions across the world who are suffering because of austerity and bad policy advice.”

Linus Aleke in Abuja

GRAND FINALE OF THE EY YOUNG TAX PROFESSIONAL YEAR COMPETITION....

L-R: Akinbuyi Abudu,

for EY

and

Beauty

EY

Asari-Dokubo Accuses Tinubu of Meddling in Rivers Crisis

Says he emptied his account to campaign for president, rejected pipeline contract

Emmanuel Addeh in Abuja

An ex-Niger Delta militant leader, Mujahid Asari-Dokubo, yesterday accused President Bola Tinubu of taking sides in the ongoing political altercation between the Minister of the Federal Capital Territory, Nyesom Wike and Governor of Rivers State, Siminalayi Fubara.

Speaking on Arise Television, Asari-Dokubo, a former president

of the Ijaw Youth Council (IYC), worldwide said during the last presidential poll he spent over $2 million to ensure Tinubu’s election.

Admitting that Tinubu stood by him during his fight with former President Olusegun Obasanjo, reason he will always support him, AsariDokubo said he rejected an offer for a pipeline surveillance contract from the president when he visited him in the State House the last time.

He also criticised Tinubu’s decision to dissolve the Ministry of Niger Delta Affairs, calling it a “total betrayal” of the Niger Delta people, saying the move reflects a longstanding culture of sidelining the Niger Delta region in national development.

“This decision is a betrayal of the people of the Niger Delta. There has been this culture in Nigeria of trying to shortchange the people

of the Niger Delta, robbing us of our gains,” he claimed. He emphasised that his criticism stems from his commitment to representing his people rather than his personal relationship with the president, whom he said remains separate from his duties as an advocate for the Niger Delta community.

“I should be able to tell him (the president) the truth about

20 Schools, 23 Markets Closed in Benue over Militia Attacks, Says Katsina-Ala LG Chair

Bandits take over military training camp in Niger, sacks 23 communities Amotekun apprehends 27 suspected criminals in Ondo

George Okoh in Makurdi, Laleye Dipo In Minna and Fidelis David in Akure

The Chairman of Katsina-Ala Local Government Area of Benue State, Orangoholga Shaku, has claimed that the continuous activities of criminal elements within the council has left many schools, markets and primary health clinics closed for more than one year.

Shaku, who said this yesterday while decrying the state of the council, explained that, “Over 20 schools, 23 markets and 13 primary health clinics remain shut, following the continuous activities of criminal elements in the local government.

“A total of eight council wards are badly affected too. Insecurity in the area has been challenging. Agriculture, which is the major

source of our livelihood, is greatly affected because of so many challenges at the moment.”

He, however, said his administration would focus on rebuilding, rehabilitating and resuscitating all the broken economic sectors within the council.

He disclosed that he would focus on health, education, roads, agriculture and security, to boost the council’s economy, “and to ensure that the schools are back to life.”

Shaku, who said the council secretariat was an eyesore, added that, “it requires total rebuilding.”

Meanwhile, the Niger State House of Assembly, has claimed that the military training camp in Kontagora, Niger State, has been sacked by bandits just as 23 communities within the camp had also been sent packing. The issue came about under

a motion of public importance brought before the assembly by the member representing Kontagora 11 constituency, Alhaji Abdullahi Isah.

Isah said the sacked military training camp spanned from Kontagora local government area to parts of Mariga local government area.

He further asserted that following the occupation of the training camp by the bandits, the 23 farming communities within the camp had to forcefully relocate to undisclosed locations.

He claimed that in the last one month, the communities within the training camp had come under intense attacks from the bandits who "operated with impunity" adding that some members of the communities that were abducted during the recent operation were still being held by the gunmen.

In a related development, the Ondo State Security Network Agency codename Amotekun, has paraded 27 suspected criminals arrested across the 18 local government areas of the state within two weeks.

The state Commander of the corps, Adetunji Adeleye, said aside the two cases of kidnapping recorded, the corps recorded more cases of house breaking during the period under review.

"Today, we have a total of 27 suspects on parade. On Antigrazing/farmers' clashes, just five cases were recorded and all the five, we were able to resolve them amicably.

“What I mean by that is, the headers volunteered to pay for the cost of what they destroyed and equally paid the fine of government for the infringement.”

Osun APC Suspends Aregbesola

Yinka Kolawole in Osogbo Osun State Chapter of the All Progressives Congress (APC),yesterday, suspended a former governor of the state, Ogbeni Rauf Aregbesola, for alleged anti-party.

In a resolution jointly signed and sent to the National Chairman of the party, Abdulahi Umar Ganduje, for notification by the state Chairman, Hon. Sooko Tajudeen Lawal and Secretary of the party, Hon. Olabisi Kamoru, the party noted that Aregbesola, has been suspended from the party following allegations

of anti-party activities. "The State Executive Committee (SEC) has constituted a Disciplinary Committee to investigate the allegations, which include the creation of splinter groups, parallel organs, working with opposition parties, public outbursts against party leaders, refusal to support party activities, and refusal to vote for the party since the 2019 general elections," it stated.

The committee vowed to report its findings and recommendations to the SEC within 14 days. rlier, a letter from Disciplinary

Committee to Aregbesola signed by Comrade Waheed Adeniran

Stated that, "The State Disciplinary Committee is investigating allegations of anti-party activities by the Ilesa East Local Government Executive levelled against you.

"The allegations include working with opposition parties to undermine the APC, factionalising the party through the Omoluabi Caucus, creating parallel party organs, and insulting party leaders. The Committee requests a formal response within 48 hours to ensure due process and prevent further

actions in accordance with the party's constitution."

Also, the Ilesa East Local Government Executive Committee of the All Progressives Congress (APC) had before requested disciplinary action against Aregbesola for antiparty activities.

The committee discussed Aregbesola's actions, including public criticism of APC, support for rival parties, and division within the party.

The local exco believed taking swift action would restore party discipline and deter other members from engaging in anti-party activities.

what is happening in Rivers state. President Bola Tinubu is supporting Nyesom Wike to destabilise the state and disturb its peace,” he said.

“The ministry came to being on the blood and sweat of the people of the Ijaw nation. I’m crying out because I am vigorously liable for any infraction on the expectations of the Nigerian people and not just the Niger Delta people.

“I’m not going to deny what I said. Even if it’s tomorrow Bola Tinubu encounters any difficulty, I will still stick out my neck and

stand for him because at some point he stood for me,” he added. He also claimed that he spent over $2 million to support Tinubu, stressing that he emptied his bank account to back Tinubu’s presidential election.

“If Tinubu encounters any difficulty, I will still stick out my neck and stand for him because, at a time, he stood for me. In all my podcasts, I personally said my needs are very small, so what I’m trying to say is very clear: with Tinubu becoming president, I should be able to tell him the truth.

Odili: Nigeria Can’t Exist Without S’south

Blessing Ibunge in Port Harcourt

A former governor of Rivers State, Dr. Peter Odili, has insisted that without the participation and inclusion of the South-south region in the economic development of the country, Nigeria would collapse.

The former governor noted that South-south has meaningfully contributed to the growth of the nation, despite less benefits to the people that were blessed with the resources that have kept the country going.

Odili spoke yesterday at the 1st induction/oath taking ceremony for the pioneer graduands of PAMO University of Medical Sciences, into the radiography profession, held at the school premises in Elelenwo, Rivers State.

Odili stated that in seven years of existence, PAMO university has credited impact in the society, through the graduates of reliable medical experts.

"I am one of those who believe that if you withdraw the South-south, Nigeria will collapse. Like what is said, if yougo to every home, the saddest people are those who work in the kitchen.

“Therefore, whatever good Nigerian resources can produce in every sector, the South-south will always come out the best."

He urged the graduands to be good ambassadors of the university, saying, "He who pays the piper dictates the tune. Through your efforts, let the narrative of your profession change in the Southsouth."

Disappointed Ministerial Nominees Return Home as Senate Shifts Screening Until Today

Sunday Aborisade in Abuja

President Bola Tinubu's new ministerial nominees were disappointed yesterday when they were asked to return home following the postponement of their screening by the senate until today.

The nominees arrived early for the exercise in company with their family members and political associates in compliance with the directive by the Special Adviser to the President on National Assembly Matters, Senator Basheer Lado.

Lado, who had initially released a statement on yesterday inviting the nominees for the screening suddenly issued another press release, explaining that the screening had been postponed until today.

He said the postponement arose from the nominees inability to complete their documentation.

Lado specifically said the postponement was to allow all nominees to conclude all aspects of documentation and pre-screening exercises.

"The screening has been rescheduled for Wednesday, October 30, 2024," he said.

The seven ministerial nominees forwarded to the Senate for confirmation by President Tinubu were Dr Nentawe Yilwatda (Ministry of Humanitarian Affairs and Poverty Reduction); Muhammadu Maigari Dingyadi (Labour and Employment) and Bianca Odinaka Odumegu-Ojukwu (Minister of State, Foreign Affairs).

Partner/Tax Leader

West Africa;

Agadaga, mother of the overall winner; Uyodhu Ayadaga, Nile University student & overall winner of EY Young Tax Professional Year Competition; Jane Onobhayedo, Director/Talent Leader for EY west Africa;

Akeem Ogunseni,

Associate Partner/Coordinator of the Competition at the grand finale of the EY Young Tax Professional Year Competition 2024 held at the EY office, Lagos

DISCUSSING INVESTMENTS…

L-R: Head, Sustainability & Infrastructure, Apollo

Wilkinson, at the Future Investment Initiative in Riyadh, Saudi Arabia…yesterday

IG Vows

to Arrest Kidnappers of Catholic Priest in Edo, Abductors Demand N200m Ransom

Adibe Emenyonu in benin-city

The Inspector General of Police (IG), Kayode Egbetokun, yeterday assured Nigerians that the gunmen who abducted Rev. Father, Thomas Oyode in Agenegbode, Etsako East Local Government Area of the Edo State will be arrested.

In a statement issued by the Spokesperson of Edo State Police Command, Moses Yamu, he said:

“Following reports of the unfortunate abduction of a Rev Father at the Diocesan Minor Seminary in Agenebode last Sunday evening, the Assistant Inspector-General of Police

This is just as abductors of the Rev. Fr. Oyode demanded a ransom fee of N200million for his release.

Ogun Shuts School, Suspends Principal over Pupil’s Death

James Sowole in abeokuta

The Ogun State Government has shut down Obada Grammar School, Obada, Idi-emi over the death of Master Monday Arijo, an SS2 student of the school.

This followed the arrest and suspension of the teacher allegedly responsible for the death of the student last Friday as a result of corporal punishment.

in charge of Zone 5 (Delta and Edo State Commands), AIG Arungwa Nwazue, accompanied by the Edo State Commissioner of Police, Umoru

Ozigi, last Monday visited Agenebode. “During the visit, they met with the Chairperson of Etsako East Local Government Area, Hon Benedicta Attoh;

lawmaker representing the council, Hon. Kingsley Ugabi; Okumagbe of Uwanno Kingdom, HRH G.O Egabor, and other traditional rulers from Weppa,

Ibie, Okpekpe, as well as Bishop Gabriel Dunia, with other Rev Fathers at the Council Secretariat, charting a robust course to tackle insecurity in the area.”

Guber Poll: Group Storms INEC, Demands Redeployment of Ondo REC

Adedayo Akinwale in abuja

The Governor of Oyo state, Seyi Makinde during the recent political campaign of the Peoples Democratic Party (PDP) recently alleged that Babalola is from the state and demanded her redeployment.

The closure of the school was based on the directive of the state Governor, Prince Dapo Abiodun, who has also directed that a panel should be set up to investigate the circumstances that led to the unfortunate incident.

The governor also promised that those liable by the outcome of the investigation would be made to face the full wrath of the law.

Representatives of the Ministry of Education, Science and Technology have also visited the family of the late student.

The Principal of the school, Mrs. Tamrat Onaolapo, who was earlier issued a query for allowing corporal punishment to be used on the pupil against the established rules and regulations in the state, has also been suspended.

Unilorin

NASU, SSANU Join Nationwide Strike

The Joint Action Committee (JAC) of Non-teaching Staff Unions in the universities, University of Ilorin chapter yesterday joined the nationwide strike action called by the national body.

The JAC comprises the Non-Academic Staff Union of Educational and Associated Institutions (NASU) and Senior Staff Association of Nigerian Universities (SSANU).

The affected unions in the nation’s federal universities have shut down the universities in the country in compliance with the

indefinite strike called by JAC over non-payment of their allowances.

A visit by our correspondent to the campus of the University yesterday revealed that workers under the JAC unions stayed out of their places of work.

Speaking with our correspondent at the entrance of the University of Ilorin, the NASU Chairman, Unilorin Branch, Mr. Suberu Ibrahim, said the strike action will be total and indefinite.

According to him, the action is as a result of the non-payment of the four months withheld salaries of its members.

AV-TEC, Telecom Pneumatic Partner to Deepen Operations

Raheem Akingbolu

AV-TEC Limited, a leading provider of advanced technology solutions, and Telecom Pneumatic Tube Systems, a leader in pneumatic tube system technology, have announced a strategic partnership aimed at enhancing the sales and support of pneumatic tube systems across West Africa.

This significant milestone was celebrated during the

highly anticipated Pestra Tech Day event recently. Together, the companies will provide state-of-the-art pneumatic tube systems designed to improve efficiency and reliability in various sectors, including healthcare, logistics, financial services, and industrial complexes.

Commenting, Chief Executive Officer of AV-TEC Limited, Paul Nwokolo, said: “We are thrilled to unveil Telecom Pneumatic Tube Systems (PTS).”

The Ondo Youth League, Action for Credible and Transparent Election yesterday stormed the headquarters of the Independent National Electoral Commission (INEC) in Abuja, demanding the redeployment of Resident Electoral Commissioner (REC) in Ondo state, Mrs. Toyin Babalola ahead of the November 16 governorship election.

But the electoral body in a post on its verified X handle described Makinde’s as unfounded.

It said: “Our attention has been drawn to an allegation made by the Governor of Oyo State, Mr. Seyi Makinde at his party’s campaign rally held today in Akure in which he called on the INEC Chairman to remove the Resident Electoral Commissioner (REC) for Ondo State, Mrs. Toyin Babalola, because “she is from Ondo State.” However, not convinced by INEC’s response, the group insisted that the processes leading to the scheduled Saturday November 16 election should not only be transparent and credible, but must be coordinated by persons whose views and opinions are consistent and not biased.

Ekiti Lawyers Drag Nwite to NJC over Alleged Controversial Rulings

Some lawyers, under the aegis of Ekiti Lawyers Vanguard for Transparency, have petitioned the Chairman of the National Judicial Council, Hon. Justice Kudirat Kekere-Ekun against Justice Emeka Nwite of the Federal High Court, Abuja over his alleged controversial rulings and other misconducts.

The legal practitioners further accused Nwite of bias and desecration of the hallowed temple of justice with what they described as unjust conducts, maintaining that the judge’s actions were capable of bringing Nigeria to great disrepute if they are not curbed.

The lawyers claimed that

Justice Nwite’s alleged unjust rulings were embarrassments to the body of benchers, expressing dismay that Nwite, who restrained the Economic and Financial Crimes Commission (EFCC) from probing Oluwaseun Odewale, a former aide to exGovernor Kayode Fayemi and Ariyo Oyinkolawa Adesola and shielded them from prosecution on their alleged role in corruption cases, was the same judge who issued a controversial bench warrant for the arrest of a former Governor of Kogi State, Alhaji Yahaya Bello, despite the pendency of an order of a State High Court stopping his arrest and prosecution.

US, Nigeria Collaborate to Strengthen Peace Structures, Resolve Conflicts

Michael Olugbode in abuja

The United States(US) and Nigeria have collaborated to strengthen peace structures across key conflict-prone areas in Nigeria, in a step towards enhancing peace and security in the country.

The Nigeria’s position is led by

the Institute for Peace and Conflict Resolution (IPCR) while United States collaboration is pushed by USAID, and it is aimed at building local capacity, improve early warning systems, and foster stronger collaboration among government agencies, community leaders, and security forces to

reduce violence and promote stability in targeted regions.

Director General of IPCR, Joseph Ochogwu while unveiling the Nigeria’s Conflict Early Warning Situation Room yesterday in Abuja, emphasised the collaborative nature of the initiative, bringing together national, international, and local entities united in the mission of fostering social cohesion and preventing violence. He said: “This partnership is unique, not only for its inclusivity—from international stakeholders to grassroots actors—but for the commitment it represents to peace building.”

Okpebholo Denies Signing $45.21m Flyover Deal with China

Edo State Governor-elect, Senator Monday Okpebholo, has denied ever signing any deal with the Chinese Government to the tune of $45.21million for flyover bridges. He therefore, assured the people of the state that he would not be a Memorandum of Understanding (MoU) governor.

Bassey Inyang in Calabar and Gbenga Sodeinde in ado Ekiti

Okpebholo explained that as a governor-elect, he was not in any official capacity to obtain any loan on behalf of the state.

Okpebholo gave the assurance while reacting to allegation by the Peoples Democratic Party (PDP) that he had signed a $45.21m deal with China Exim Bank. The senator, who gave the assurance in a statement by his media aide, Godswill Inegbe, said he would not be distracted by the outbursts of those who are ”still licking their wounds after losing the September 21 governorship election in the state.”

The Cross River State Governor, Senator Bassey Out yesterday presented a budget proposal of N498 billion for the 2025 fiscal year entitled: ‘Budget of Sustainable Growth.’

Similarly, Ekiti State Governor, Mr. Biodun Oyebanji presented a budget estimate of N375,790,077,618.15 for the 2025 fiscal year with special focus on food security, employment generation and wealth creation.

He said: “I am rather working on how to offset the numerous loans obtained by the outgoing administration without any correlating development.

“We wish to draw the attention of the public to the mischievous publication, which is speculating that the winner of the November 21 governorship election in Edo State.

2025: Cross River Presents N498bn Budget, Ekiti N375bn

Otu, who presented the budget before the state House of Assembly yesterday said: “This budget is a continuation of our administration’s philosophy of ‘People First’, focusing on inclusive growth, sustainable development and the well-being of everyone.”

The governor said the sum of N328 billion, representing about 66 per cent of the total budget size is allocated to Capital Expenditure while the Recurrent Expenditure has N170 billion, representing about 34 percent of the total budget size.

ReachEco Boss Urges Businesses to Embrace Sustainability for Growth

Founder of ReachEco, Balogun Adebayo, has advised businesses to embrace sustainable practices for growth and development of their operations.

In a report on the gains of sustainability to businesses, he said sustainability is not just about

making internal changes but also about communicating those changes effectively to stakeholders.

He said technology allows businesses to turn environmental data into stories that resonate with consumers, investors, and regulators.

According to Adebayo, digital transformation is playing a critical role in helping businesses align their sustainability goals with their broader corporate strategies.

“At the core of this transformation is the integration of sustainability data into digital

marketing platforms. Companies can now incorporate real-time energy performance data into their social media campaigns, website content, and advertisements, offering a level of transparency that consumers increasingly expect, “he said.

Hammed Shittu in Ilorin

Management; President/Group Chief Executive Officer, Transcorp Plc, Dr. Owen Omogiafo, and Secretary General & CEO, World Energy Council, Dr. Angela

WEDNESDAYSPORTS

Pinnick Advocates Radical Shift in Nigeria’s Sports for Podium Placements

Duro Ikhazuagbe

FIFA Council Member, Mr. Amaju Melvin Pinnick, has urged Nigerians not to expect too much from the country’s athletes at the next Olympic Games scheduled to hold in Los Angeles, United States of America in 2028.

Speaking yesterday at this year’s Personality Guest Lecture of the Faculty of Education, University of Ibadan, Pinnick Insisted that the best Nigeria should expect is one or two gold and not 10.

He spoke on the topic: The Challenges of Sports Infrastructure And Maintenance In Nigeria:

Prospect for Podium Performanceat the Trenchad Hall of the country’s first university.

“Winning an Olympic gold medal is not an overnight thing to achieve. It takes eight years or more preparations. But Nigerians don’t want to hear this. They expect our athletes to win like six or

seven gold medals despite not adequately preparing the athletes to achieve this,” began Pinnick who is immediate past president of the NFF who also doubles as a CAF executive committee member.

He pointed at the failure of Team Nigeria at the last Paris 2024 Olympiad as one of the results

NFF Hails Lookman, Wishes Him Better Ballon d’Or Outing Next Year

President of Nigeria Football Federation, Alhaji Ibrahim Musa Gusau has commended Super Eagles’ forward Ademola Lookman for finishing in 14th place in this year’s Ballon d’Or race, saying he believes the petite forward has what it takes to finish much higher in the race next year.

Lookman finished 14th in this year’s contest which gala was held in Paris on Monday night, and which was won by Manchester City ace Rodri.

“The NFF commends Ademola Lookman for his feat, and we believe he has the potential to finish much higher next year. He was already a winner before Monday’s night’s gala, as the only African on the 30-man shortlist. He was also the second highest-rated Italian Serie A player in the race.

“We encourage him to continue doing his best for club and country, and the sky will be the limit for him.”

Lookman scored three important goals for Nigeria as the Super Eagles finished in second place at the Africa Cup of Nations in Cote d’Ivoire earlier in the year, and then scored all three goals in the Europa Cup final as his Italian club, Atalanta, routed German top side Bayer Leverkusen.

This season, he has remained within the goals/assists frame for club and country. He has scored two goals for Nigeria in the 2025 AFCON qualification race, with two other goals controversially chalked off.

Most pundits see him winning this year’s Africa Player of the Year award. If that happens, it will be the first time that a Nigerian has picked the continental gong from a fellow Nigerian, since ‘Prince of Monaco’ Victor Nosa Ikpeba took over from Nwankwo Kanu in 1997. The first was in 1994, when Emmanuel Amuneke took over from Rashidi Yekini (of blessed memory).

The battle for the ultimate prize of this year’s Zenith Bank/ Delta Principals’ Cup will continue today, October 30 with four schools taking to the field in the semifinal stage of the competition.

The competition  in its 7th edition is a partnership  between Zenith Bank Plc and the Delta State Government.

At the Ogwashi-Uku Stadium, it will be a game between UtagbaOgbe Grammar School, Kwale (Ndokwa West) and Umutu Mixed Secondary School, Umutu (Ukwuani LGA) while at the Kwale Stadium, it will be a fight between Okene Secondary School, Okuokoko (Okpe LGA) and Ogbromro Secondary School,

Ogbromro (Uvwie LGA).

In the quarterfinal games concluded on Monday, UtagbaOgbe Grammar School defeated Ugumbor-Otiku Secondary School, Agbor, 2-1 to set up a semifinal date with Umutu Mixed Secondary School, Umutu, who thrashed Zappa Basic Secondary School, Asaba, 5-1 in their own quarterfinal game. It was a tight game at the Oleh Stadium between Okene Secondary School, Okuokoko and Okotie-Eboh Grammar School, Sapele, with Okene edging the game 1-0 and will be up against Ogbomro Secondary School, Ogbomro, Uvwie who beat Destiny Secondary School, Ughelli, 2-0.

of a long term lack of the right sporting infrastructures in place for the country’s athletes to train.

“We have everything to excel in sports in terms of talents but unfortunately, lack of infrastructure as well as poor maintenance culture of the existing, decaying ones make it difficult for our athletes to reach their full potentials.”

The FIFA Council Member pointed at the Godswill Akpabio Stadium in Uyo as the only sports facility in the country that meets FIFA standard in hosting a grade A football event. “Even at that, that Uyo stadium cannot host a World Cup match because it does not have hospitality suites that is a prerequisite for such a stadium.

The National Stadium in Lagos has been abandoned for too long and now in a state of decay while the Moshood Abiola Stadium in Abuja needs upgrading.”

Pinnick pointed in the direction of South Africa and Morocco as countries with the right facilities in hosting global events. “The South Africans hosted the World Cup in 2010 and are maintaining the facilities while Morocco has built sporting infrastructure that make her the envy of the rest of the continent at the moment.”

For Nigeria to truly take her place in global sports, the FIFA Council member urged the Federal Government  to adopt the PublicPrivate-Partnership in going into

infrastructure investment.

“The Federal Government can help with the right legislation that will spur interested individuals, social entrepreneurs and organizations to see the construction and management of sports infrastructure as a worthwhile venture.”

Pinnick commended President Bola Tinubu for the reintroduction of the National Sports Commission (NSC) and the appointment of Malam Shehu Dikko as Chairman of the commission. He however stressed that there is the need to go beyond just nomenclature change even as he vouch for the capability of Dikko to deliver on the President’s mandate.

“I am advocating strongly with all sense of responsibility not just a new NSC but one in which professionalism, competence and creativity are the driving words. I am talking of a compact body with a Chairman and one highly recommended person from each of the six geopolitical zones, and a Secretary who is highly knowledgeable , transparent and intelligent. This will be a body committed and focused on real development of Nigeria sport. This will gradually shift our attention from mere participation in competitions to actual development of sports and maintenance of critical infrastructure,” concludes the top football administrator.

Brazilians Furious over Vinicius Jr Snub in Favour of Rodri

Journalists and politicians in Brazil have criticised Rodri being voted the winner of the 2024 Ballon d’Or award ahead of Vinicius Junior.

Brazil forward Vinicius, 24, was Real Madrid’s top scorer last season as the Spanish giants won the Champions League and La Liga.

Manchester City’s Spain midfielder Rodri helped his country win Euro 2024 in July and also won the Premier League, UEFA Super Cup and Club World Cup with City.

Rodri was awarded the prize in Paris on Monday night with Vinicius absent from the ceremony along with representatives from his club.

Brazilian news commentators described the decision as an unjust and retaliatory move, with some concluding that it was the most controversial decision in the award’s history.

Many claimed the Real Madrid player was denied the award because of his stance on the racism he faces in Spain.

“We know that Vinicius is a target of racism in Spanish football and other parts of Europe, and he actively fights against racism,” said Guga Chacra, a commentator from the leading Brazilian TV

news network GloboNews.

“This leads us to question whether the result that gave Rodri the win was influenced by prejudice and racism against Vinicius.”

The Chaingang Cycling Club Abuja has set November 23, as the date for the 3rd edition of its annual Mountain Biking (MTB) Festival, themed “Trails of Adventure”.

This club announced that this year’s festival will be an exhilarating celebration of outdoor sports, community and

Gustavo Faldon, Sports Editor  for the Brazilian daily Estadaosaid: “The (treatment of) Vincius was the biggest injustice in the history of Ballon d’Or.

the breathtaking natural beauty of the Apo Resettlement area in the Federal Capital Territory (FCT).

The Chaingang Abuja MTB Festival has become a landmark event in Nigeria’s outdoor adventure calendar, attracting participants and spectators from across the nation.

The festival offers a unique blend of mountain biking,

“The fact that he is Brazilian, plays for Real Madrid, and is a forward should have worked in his favour in the history of the award.”

“It sounds like an injustice to me,” added Rodrigo Bueno, a sports commentator for ESPN Brasil.

running, hiking, and power biking, creating an unforgettable experience for all attendees.

The event highlights will include mountain biking which will enable riders to navigate a challenging and scenic 30-kilometre trail with hilly terrains, technical sections, and smooth segments, testing their skills and endurance, as well as hiking where recreational hikers

Milly Lacombe, a sports commentator for Brazil’s UOL news website, said that the Ballon d’Or “missed the opportunity to pay a heartfelt tribute to the most talked-about player of the season - known for his dribbling, goals, ability to make decisive plays, and social activism”.

will embark on a 10-kilometre trail, offering beautiful natural environments, gentle hills, and serene meadows that promise to ignite their spirit of adventure. The event also affords participants an kilometre running trail with a mix of hilly and technical sections designed to bring out the best in runners while they enjoy the stunning landscape.

2024 BALLON D’OR AWARD

Vinicius Jr...outrage in Brazil over the snub of the Real Madrid forward

FIFA Executive Committee Member, Amaju Pinnick (right), receiving a gift from Deputy Vice Chancellor (Academic) of University of Ibadan, Professor Aderonke Baiyeroju (left) while the Dean of the Faculty of Education, Prof. O.A. Adegbesan looks on with interest shortly after Pinnick presented a paper at the university… yesterday

Olawale Ajimotokan in Abuja

GUEST COLUMNIST

MISSILE

Economic Expert to CBN Governor

“IkeeptellingtheCBNGovernorthatyouarejustdoingcosmetics.Ourmainproblemis tobringourcurrencybacktotherightprice.IftheCBNGovernorcancloseallloopholes, therightvalueoftheNairatodollarshouldnotbeaboveN350.Onceit'sthere, everythinginthisnationwillcomedown.Includinginflation,interestrate,andthelike will all come down"–EconomicExpertandGMD/CEO,ConfederatedFacilitatorsLtd(CFL) Group,LaiOmotola,taskstheCBNGovernor on the economy.

Leadership and the Next Generation BIODUN OYEBANJI

One of the dominant themes in public discourse that has continued to attract both academic and media scrutiny in Nigeria is the leadership question. A lot has been written and many words expressed to describe the leadership situation in our country. It is the view of many that our major problem is “leadership”. Indeed, the legendary literary giant, Chinua Achebe once famously remarked in his book, The Trouble with Nigeria that “the trouble with Nigeria is simply a failure of leadership…”

It is to be noted though, that this “problem” of not having “good leaders” has been a generational accusation. In the colonial Nigeria, patriotic nationals of Nigeria, mostly young people but highly intelligent and courageous, worked tirelessly to confront the colonial leadership and the oppressive symbolism that it represented. By the time their collective aspiration materialized and the lever of power fell in their hands, it was not long before they, themselves became victims of accusation of incompetence and corruption. The younger elements of their time were so impatiently pissed off with them, that, they staged a bloody coup to forcefully remove them from power. And of course, they too became a “worse version” of what they complained agains.

The lesson to be noted in this, is that our search for good leaders and the proclivity for each generation to accuse the ruling class of their time of being incompetent, corrupt and visionless is as old as this country.

This feeling of “lets do away with these ones” has been a constant motif in our national leadership struggle, but as soon as we do away with ‘them’ we soon become nostalgic of the “good old days” of their leadership. Thus, we have remained an experimental laboratory in search of the ideal leadership personality, system and model.

From all of these, it is sometimes difficult to really understand the nature of our leadership challenge, as it is clear that the dynamics of power struggle and oppositional politics can sometimes eclipse genuine leadership success.

Similarly, since leadership assessment in our clime is subjective and determined by sociopolitical or ethno-religious affiliations, the search for the ideal leadership has been made harder, if not illusory. Indeed, the leadership concept itself and its suppositions is as problematic as its ideation.

Who is a Leader?

One frightening thing about the conceptualization of leadership among

Nigerians, especially from the standpoint of media narratives, is that the leadership of the country is often constructed as the people holding public offices. Our focus has always been to highlight the activities of public office holders as the ultimate and final generational leadership.

This is not only misleading but also dangerous. Leadership is basically the position of influence and authority to command compliance for the overall progress and development of a particular organization. Therefore, the national leadership of a nation and its character are essentially, the sum total of the leadership behaviors of the leaders at different layers of the society.

A nation’s leadership starts from the household to the larger society. Every father is a leader, every mother is a leader and every child is a leader. From being a class captain to becoming the president of a nation, the core values and skills of leadership are the same: responsibility, problem-solving, vision, fairness, firmness, prudence, transparency, temperance, resourcefulness, patience, responsiveness, creativity, accountability, fear of God among others.

These are the enduring values that a leader must possess. One doesn’t need to hold political office to have these values and skills, nor should they get to public office before possessing them.

A Clamour for Leadership Education

Therefore, I hold the view that leadership

must be part of the basic everyday skills that every citizen should possess. Leadership training must be as important as basic education for literacy and numeracy. As a nation, we should have embedded curriculum that teaches leadership skills and principles, both as practical skills and indoctrinated values. For me, I believe if you want to change a people, teach them what you want them to change to.

There is no doubt that a major problem with leadership recruitment in Nigeria is that, people, sometimes, just find themselves in leadership positions without the right aptitude and attitude. For long, Nigerians continue to gamble with leadership selection through try by error system. We sometimes look for folk heroes or messiahs; at another time, we select leaders on the basis of geopolitics and ethno-religious considerations.

There are those who become leaders by default or by circumstances of privileged pedigree and not because of personal merits. Yet, the best of leaders are those who have been trained, tested and exposed to the nitty-gritty of leadership in addition to their innate ability.

Furthermore, the average person does not have the wherewithal to evaluate leadership competence because there is no widespread knowledge about leadership as a skill.

Leadership is such a serious thing that being certified should be one of the requirements to hold certain strategic positions in the society. Evidence abounds that technical skill on jobs are not enough for people to lead competently; there is the need for real

and special training in the art and science of leadership for people to succeed today.

I therefore subscribe to the argument that people should, of necessity, go through intentional leadership training before they can lead at some certain levels in the society. We all need to be well exposed to the call of leadership and how to manage a mass audience of people with differing characteristics, needs and tendencies.

In Ekiti, we are already doing this. As a State that is serious about preparing the next generation of leaders from today, we have evolved a ’catch-them-young’ curriculum that prepares our future leaders for leadership position right from the primary school.

As a result, we currently run a compulsory subject called Ekiti Values Education (EVE) with a considerable module that focuses on leadership development. The subject aims to teach young Ekiti children comprehensive aspects of leadership, responsibility of a leader and practical leadership exposure. It aims to raise their self-awareness about their individual roles as a member of the future leadership and to prepare them to face the challenge of nation building.

Even as we grapple with the challenges of this generation, we owe the future generation, in addition to providing pedagogical framework, the responsibility of personal example. This is because it is in the nature of young people to emulate their leaders.

So, where we have found ourselves as leaders, be it as traditional rulers, community leaders, religion leaders, business leaders, union leaders, professional leaders, academic leaders, judicial, legislative or executive leaders, we have a duty to be the paragon of example for the next generation.

Conclusion

I want to thank the authorities of the Foursquare Gospel Church in Nigeria for providing this platform through which topical issues of relevance to national development are discussed. I am more than confident in our Guest Speaker to do justice to the topic at hand.

Let me conclude this remark with a quotation from the Maxwell Leadership Bible on our Lord Jesus Christ leadership model:

“The best leadership simply expresses who we are. Jesus led from who He was: God incarnate, the perfect expression of the Father. As He pursued His divine mission, He influenced others. Similarly, as we pursue who God called us to be, our leadership will be most natural and effective”.

•His Excellency Biodun Oyebanji is the Governor Ekiti State

President Tinubu