FRIDAY 8TH NOVEMBER 2024

Cardoso Showcases 1-Year Achievements, Commits to $1 Billion Remittance Target

Says inflation on downward trend due to monetary policy interventions, confidence restored in economy Sanwo-Olu commends CBN management team

At Editors’ Conference, Tinubu Says Nigeria’s Economy Gradually Rebounding

Lists gains of his economic reforms, others Reveals reduction of debt service-to-revenue ratio from 100% to 65% Attributes 25 years of uninterrupted democracy to media Obaigbena: If Dangote Refinery fails, Nigeria’s reforms fail, urges support for FG Amuka, Osoba lament effect of economic hardship on media

Kuni Tyessi in Abuja

Group, Prince Nduka Obaigbena; former Governor of Ogun State and Media Veteran, Chief Segun Osoba; Publisher of

(Information &Strategy) to the President, Bayo Onanuga, at the All Nigeria

James Emejo in Abuja The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has outlined critical milestones in the bank’s ongoing economic reform

Verheijen Urges Global Players to Invest in Nigeria's Energy Sector

Declares nation has historically underperformed in oil and gas production Says IOCs invested $82bn in deep-water outside Nigeria since 2013

Deji Elumoye in Abuja

Special Adviser to the President on Energy, Olu Verheijen, has called on investors to seize new opportunities in Nigeria’s energy sector, highlighting untapped potential and recent reforms to attract capital.

Speaking to a diverse audience at the ongoing African Energy Week in Cape Town, South Africa, Verheijen

underscored the untapped potential within the industry and discussed the recent reforms implemented by the President Bola Tinubu administration to attract investment.

Verheijen, according to a release issued on Thursday by Director of Information at State House, Abuja, Abiodun Oladunjoye, stated that the country had historically underperformed in oil and gas production, despite

Nigeria's huge oil and gas endowment. She referenced how countries like Brazil, with only about 30 per cent of Nigeria’s oil reserves, had outperformed the African giant by producing 131 per cent more than Nigeria’s current production.

"Despite our abundant endowments, we have underperformed against our potential. For example, Brazil holds only 30 per cent of Nigeria’s oil reserves,

but produces 131 per cent more. This is largely due to under-investment," she said.

Verheijen disclosed that since 2016, Nigeria had attracted only four per cent of Africa’s oil and gas investments, while investment had surged in other, less resource-rich nations.

According to her, “Since 2016, Nigeria has managed to attract only four per cent of total investments in oil and

gas, while less resourced countries in Africa have enjoyed a bigger share.

“When we analysed investment data, we also found that, between 2013, when Nigeria’s last deep-water project reached FID, and now, IOCs operating in Nigeria have committed more than $82 billion in deep-water investments in other countries that they have deemed to be more attractive destinations for their capital."

AT EDITORS’ CONFERENCE, TINUBU SAYS NIGERIA’S ECONOMY GRADUALLY REBOUNDING

Emmanuel Addeh, Sunday Aborisade, Olawale Ajimotokan in Abuja and Olusegun Samuel in Yenagoa

President Bola Ahmed Tinubu, yesterday, said Nigeria’s economy was gradually making a rebound, attributing the

progress to sustained reforms being implemented by his administration across various sectors.

Tinubu applauded the role of the media in the fight to enthrone democracy and the successes recorded by the country in its uninterrupted 25 years’

CARDOSO SHOWCASES 1-YEAR ACHIEVEMENTS, COMMITS TO $1 BILLION REMITTANCE TARGET

the bank’s management team.

Reflecting on the transformative policy actions of the past year, Cardoso emphasised the CBN’s steadfast commitment to stabilising the economy, curbing inflation, and restoring investor confidence.

In a statement, he noted that the event was not a celebration but an acknowledgement of the bank’s milestones achieved in the past year, despite the crisis that prevailed when he and his team assumed office in 2023.

He described the past year as one of the bank's most challenging yet transformational, as the Bank had been able to address the credibility deficit it faced at the time.

According to the CBN governor, the reforms had started to yield positive results, including marked improvements in the FX market and a stabilisation of foreign reserves, which have now surpassed the $40 billion mark, the highest in 33 months.

While noting that inflation remained elevated, he said it was on a downward trend, signalling that the reforms were taking hold in restoring market equilibrium and fostering growth.

Cardoso further detailed the inherited economic challenges, such as the GDP growth slowdown to 2.31 per cent in Q1 2023, a significant decline from earlier years, and a sharp rise in inflation to 24.1 per cent by mid-2023.

He noted that the CBN had confronted these pressures with a robust policy response in the past 12 months, prioritising measures to enhance stability in the foreign exchange (FX) market, improve monetary policy and curb inflation.

To address the fiscal deficit, he highlighted the impact of the "Ways and Means Advances" by the CBN, which reached N22.7 trillion by mid2023, necessitating urgent action. He also addressed the country’s capital importation challenges, with foreign direct investments and portfolio investments falling dramatically over the past decade.

The apex bank govenor acknowledged the adverse effects of multiple exchange rate windows, which encouraged arbitrage, reduced foreign investment, and led to a backlog in FX settlements.

The revenue losses attributed to these exchange rate issues were estimated at N6.2 trillion in 2022 alone.

In response to these, he said the CBN had undertaken a series of impactful reforms, including a recalibration of the Monetary Policy Rate (MPR), raising it by 850 basis points to 27.25 per cent, alongside an increase in the Cash Reserve Ratio for commercial banks to 50 per cent.

These adjustments, Cardoso emphasised, were critical to addressing inflationary pressures and fostering a stable economic environment.

According to him, the centrepiece of the reforms was the CBN’s new 2024-2028 Corporate Strategy, branded with the values of Integrity, Meritocracy, Professionalism, Accountability, Courage, and Tenacity (IMPACT).

As part of this strategy, he said the Bank had moved away from quasi-fiscal interventions and was committed to orthodox monetary policies and streamlined FX windows to restore market confidence.

He said the CBN had also implemented new Bureau de Change (BDC) operations guidelines to enhance regulation and minimise FX market disruptions.

Governor Cardoso also highlighted the Bank’s drive to improve internal efficiency, leveraging a “Digital-First Initiative” that has automated key processes, reduced operational costs, and introduced data-driven tools for effective policy-making.

The Integrated Data Collection and Sharing Portal (IDSP) and a new Investor Relations Unit were established to foster a transparent and data-centric environment that encourages investment and supports the bank's economic objectives.

While thanking his team and the bank’s staff for their cooperation, Cardoso expressed optimism about the future and called for strong leadership, a unified vision, and collective resilience to address Nigeria’s challenges and pursue the nation’s economic aspirations.

In his goodwill message, the Governor of Lagos State, Mr. Babajide Sanwo-Olu, lauded the CBN management team for their dedicated effort toward stabilising the economy.

He commended the team’s commitment to self-assessment, noting their willingness to critically review their performance, ask candid questions, and seek constructive feedback from industry stakeholders.

Sanwo-Olu, accompanied by Governor Hope Uzodinma of Imo State, emphasised the importance of collaboration between fiscal and monetary authorities, underscoring the need for unified policymaking that communicates a cohesive goal and message to the public.

In his welcome address, the Deputy Governor, Economic Policy, Mr. Muhammad Sani Abdullahi, highlighted that the occasion was about recognising the Central Bank of Nigeria’s emerging accomplishments and celebrating the collective journey the institution had undertaken as a unified team.

Reflecting on the challenges faced over the past year, he emphasised how each obstacle had offered valuable opportunities for learning, development, and growth, demonstrating the resilience of the bank’s management and staff.

Speaking further, he highlighted the unveiling of the compendium, “Promoting Stability in an Era of Economic Reforms: The Journey So Far,” as the focal point of the event.

He described the book as a reflection of the Bank’s shared vision, dedication, and commitment to excellence in navigating a dynamic economic landscape.

The compendium, he noted, encapsulated the values of collaboration, resilience, and determination that had driven the institution’s transformative journey.

democratic journey.

The president spoke during the opening ceremony of the All Nigerian Editors’ Conference (ANEC) in Yenagoa, the Bayelsa State capital.

Tinubu, who was represented by Minister of Information and National Orientation, Alhaji Mohammed Idris, stated, "As we gather to discuss a theme that is both timely and urgent: ‘Economic Growth and Development Strategies in a Resource-Rich Country,’ we find ourselves at a critical juncture in our nation’s journey toward sustainable growth and prosperity.”

The president said the country's debt service-to-revenue ratio had come down drastically, from 100 per cent to 65 per cent, through the sustained reforms his administration put in place in the past 18 months. He said this was supporting the recovery of the Nigerian economy.

He pointed out that his administration spent the last 18 months laying the foundation for a prosperous Nigeria, saying the vision of his government is aimed at rekindling the faith and hope of all Nigerians in the ability of their country to flourish and provide an environment that allows everyone in it to flourish.

The president explained that while oil remained a significant source of revenue for Nigeria, the country was also investing heavily in other sectors to diversify the economy for sustainable growth.

He said the launch of the Presidential Initiative on CNG was a deliberate strategy to harness the abundant gas resources in the country to bring down the high cost of transportation by about 60 per cent and also foster a clean and healthy environment for citizens.

Speaking on the theme of the conference, the president said, “Nigeria is richly endowed with human and natural resources that could place us among the world’s most prosperous nations. The age-old question, however, is: ‘How do we translate these resources into meaningful growth and development?’

“This is the question that I believe Nigerians elected me to answer decisively, 18 months ago. And it is the question that has fuelled my vision for a country that truly lives up to its full potential, that leaves none of its people behind in poverty and disease, and that is overwhelmingly respected on the global stage.”

Tinubu said, “Two of the most significant decisions we have made are very well known to you: a ruinous fuel subsidy regime that deprived us of billions of dollars annually that could

administration, stressing that “silly” petitions have been written against him by “cruel and wicked” people for vendetta in order to hurt him.

He said one of the things that will last for a very long time to come was the fact that his administration was able to focus on Edo people and the things that matter to them as well as reform and implement those things.

The governor stated, “I will serve as a resource person after office and I'm going to give the cheapest services so far from lessons garnered in my eight years’ experience as governor.

"I hear that the EFCC will pick me next week after my tenure. Wherever they keep me, I'll spend time doing research.

"There are many things we have done that can be described as legacy projects. I believe in Edo State, one of the things that will last for a very long time to come is the fact that we

be going into investments in critical physical and social infrastructure, and a foreign exchange regime that was prone to unimaginable levels of arbitrage and abuse.

“Like the fuel subsidy, another needless drain on our limited national resources, and a cap on our ability as a nation to reach full potential.

“These and other fiscal and macroeconomic burdens have inspired us to undertake one of the boldest programmes of economic reform in the history of Nigeria, with the goal of shifting from a consumption-based economy to a production-oriented one.

“I am pleased to let you know that through our sustained reforms, we are witnessing our economy gradually making a rebound on the most important foundational level. Today, our debt service to revenue ratio has come down drastically from almost 100 per cent to about 65 per cent.”

Tinubu stated that revenues accruing to the federal, state and local government had grown, with more funds now available for the provision of social services and infrastructure, as well as investment.

He said, “The local government autonomy granted by the Supreme Court based on the suit filed by the federal government was aimed at strengthening the governance structure at the local level as well as promoting grassroots development.”

He highlighted other achievements of his government to include a new minimum wage of N70,000; Nigerian Education Loan Fund across 59 tertiary institutions with a disbursement of over N5 billion, and over 46,000 students already benefiting; and Consumer Credit Scheme, with the release of N100 billion. He said the first batch of 500,000 civil servants was set to benefit from the scheme.

According to the president, “While oil remains a significant source of revenue for Nigeria, we are investing heavily in other sectors to diversify our economy for sustainable growth.

“The launch of the Presidential Initiative on CNG is a deliberate strategy to harness our abundant gas resources to bring down the high cost of transportation by about 60 per cent and also foster a clean and healthy environment for our citizens.

“This initiative has unlocked close to $200 million in private sector investments in the last one year."

The president also saluted the longstanding legacy of the media and its contributions to nation-building.

were able to focus on Edo people and the things that matter to them, reform and implement those things.

"Why should I have fears? I just focused on what I believe in and today, you can see what has been achieved. What happens after that is not up to me. They can continue with their political witch-hunt and do all they can to hurt me, that's their problem.

"I'm not afraid, I'm not worried. They have written all sorts of silly petitions against me and that's part of the challenge. In fact, I can even hand myself over, and if they call me, I don't have anything to hide.

"You know how this country is, it is all about bitterness, it is all about vendetta, wickedness and people who have opposed me in Edo State are cruel, very wicked people, very jealous and envious and this is because they cannot show as much as the achievements we have made in the past eight years.

He said Nigeria’s democracy would not be possible without the media.

He also saluted media personalities and individuals for their collective efforts, not just in the past, but also today, as the country celebrated a quarter of a century of unbroken democratic experience.

According to Tinubu, someone who was privileged to be in the thick of the pro-democracy struggle, with a front-row view of how it played out, would always acknowledge the important role of the media in the struggle.

He said, "Indeed, in this room are many veteran journalists who played very important roles in ushering in the age of enduring democracy in Nigeria.

“I salute your individual and collective efforts not just at that time, but even right through to today, as we celebrate a quarter of a century of unbroken democratic experience.

"In any thriving democracy, the roles of the government and the media are intertwined, both essential in serving the public interest. And of course, the media has a duty to hold elected and appointed officials accountable and ensure that we are doing our work in a manner that strengthens democracy – not weakens it.

“That important work must be done in a spirit of mutual respect and collaboration, not recrimination and opposition; this alignment enables us to achieve common goals that benefit society at large.

"Indeed, our roles are most effective when they are not adversarial but cooperative.

“By viewing each other as allies in nation-building, we can create an environment where transparency, accountability, and mutual respect thrive.

“Together, the government and the media can empower citizens, strengthen democratic institutions, and build a more informed and resilient sociey.”

Chairman of the conference an Chairman/Editor-in-Chief of THISDAY/ ARISE Media Group, Prince Nduka Obaigbena, urged editors to support the economic reforms of the Tinubu-led administration anchored on protection of the poor and vulnerable According to him, the future could be better “if we stay the course of economic reforms." He added that the poor should be given necessary incentives to survive and thrive.

Obaigbena said if the Nigerian economy was fixed, the country would be in a better position to compete favourably with other countries.

"But what is important to us is to focus on our people in order to make Nigeria better because the suffering is too much. We have the advantage and privilege to make things happen. So, we should focus on issues and not on vendetta."

Explaining his success, particularly in the sphere of education, the governor said Nigeria had always played at global standards, explaining that to be at par with the world, one must teach for impact.

He said the Nigerian government was not poor, but the issue of waste, theft and corruption had been the bane of the nation. According to Obaseki, "What we spend money on many times are not necessary. You cannot expect to raise money if you haven't put some of yours into it. You have to build trust and people have to believe in what you're saying and that's how we've

He stated that to move forward, the four refineries managed by the Nigerian National Petroleum Company Limited (NNPCL) must work to create room for competition with the only functioning refinery owned by Dangote Group to promote competition and price discovery.

He also said there was need to support domestic refining of petroleum products.

He called for the protection of local industries noting that Trump has vowed to use tariffs to protect American companies. “Nigeria should start thinking of protecting its own industries”

He warned that Nigeria should not allow cheap petroleum imports to ruin local refining capacity. He described Dangote Refinery as a game changer for the country, warning that “if Dangote Refinery fails, our economy would fail. He challenged those accusing Dangote of monopoly, to go and build their own refinery and compete. "I believe the accusation of monopoly will disappear if NNPCL’s four refineries become functional.”

Obaigbena called on the federal government to ensure the four refineries are restored to working conditions which will create an environment for proper competition in refine products in the country.

Speaking at the occasion, Bayelsa State Governor, Senator Douye Diri, decried a situation where the state, as a major contributor to Nigeria's oil and gas production, still faced severe environmental challenges and economic hardship.

He said the country must rethink the outdated idea that states had rights to surface land, while the federal government monopolised valuable underground resources. Diri charged media practitioners to protect their integrity, saying it is not only the cornerstone of their profession but also builds trust with the public and fortifies the foundations of a healthy democracy.

The governor said the press, as the fourth pillar of democracy, had become more critical in serving as a beacon of hope and in promoting understanding and unity.

Describing the theme of the conference, "Economic Growth and Development Strategies in ResourceRich Country,” as relevant and timely, the Bayelsa governor said Nigerians were at a pivotal moment in the country's journey towards sustainable development.

been able to raise resources."

The keynote speaker, Professor Olubayi Olubayi, from Kenya, called on the Nigerian government to adopt the Indian model of advancement through ideas embedded in human capital development. In his presentation, titled, "Dedication and Investment in Education-leveraging Education for Sustainable Human Capital Development," cited examples with technology and business moguls, such as CEOs of Microsoft and Harvard Business Schools. He remarked that they were all raised in India despite its historical poverty state that had, however, changed over the years. He said, "The best model for Nigeria to follow is India with its 18 formal languages and writing systems and yet it's is a rising power. It has no money to educate it's over 1.4 billion population and yet is rising.

Verheijen

EXPORT MANAGEMENT PROGRAMME (EMP 17)

Export Management Programme (EMP)

A veritable platform to understand the basics of non-oil export. It exposes the participants to the opportunities and benefits presented by AfCFTA as well as other policies and programmes that is geared towards the promotion of Export in Nigeria.

Make Payment to:

Overview

Date: 1 – 5, 2024.

Recent events in the world have resulted in major disruptions especially in supply chains, price stability as well as demand patterns. Foreign exchange liquidity will be impacted if there is no deliberate effort to grow and enhance our export earnings. This has made the need to diversify the foreign exchange revenue base an imperative

Exports help improve foreign exchange earnings, create employment opportunities, engender wealth creation and sustainable poverty reduction.

Fidelity Bank Plc Acc. Name: Export Management Programme Fee

Collections Account No.: 5020131070 Sort Code: 18-50-80

(please send payment information via email to the email addresses stated)

PROGRAMME OUTLINE

•Overview of Nigeria’s export activities

•Export Finance Instruments

•Assessment of the Potentials to become a Successful Exporter

•How to list your products on major international e-commerce platforms such as Amazon, etc.

•Accessibility of Export Markets - EU, USA, Asia, African Countries, etc.

•Definition and implementation of the activities required to make a product market-ready

Venue:

Landmark Hotel, 4 Worlu Street off Olu Obasanjo Road, D/Line, Port Harcourt, Rivers State.

Mode of Delivery: (Hybrid)

(Physical)

To boost non-oil exports and build sustainable export capabilities for Nigerian businesses, Fidelity Bank Plc, and Lagos Business School initiated the Export Capacity Building Programme. This 5-day programme is designed to equip participants with the knowledge and skill set required to develop their export business in line with global standards and take advantage of the AfCFTA Treaty as well as other enablers of export trade in Nigeria.

•Understanding of Export documentation

•Understanding, Selection and Implementation of Supply Chain Management for Exports

•Definition and implementation of Financial Management for Exports

•Selection and Application of on-going Export Development Business Processes

•Understanding the AfCFTA Treaty and the Opportunities it presents.

Once payment has been made, kindly send an email to the contacts below for confirmation.

Reservations/Additional Information Contact:

Facilitators: Dr Frank Ojadi, LBS Faculty; Dr Obinna Muogboh, LBS Faculty; key industry experts in Exports; Financial Management experts and regulators.

Emmanuel Nwalor Phone: 0802 3588 372  Email: Emmanuel.Nwalor@fidelitybank.ng

Nkechi Iwegbu Phone: 0802 478 2906 E-mail: niwegbu@lbs.edu.ng

Umar Idris Phone: 0703 1667 432 E-mail: uidris@lbs.edu.ng

Target Audience:

This 5-day programme is targeted at entrepreneurs, exporters, prospective exporters, and financiers of exports, export sector regulators, policy makers, MSMEs, state and federal government agencies, logistics service providers and any other interested parties.

We Are Fidelity. We Keep Our Word Call 0700 3433 5489

INTERACTIVE SESSION WITH SENATE COMMITTEE ON FINANCE AND STAKEHOLDERS IN PETROLEUM SECTOR...

Makinde: Let's Fix PDP to Fix Nigeria

Blames party’s problems on stakeholders’ disagreement Saraki: We need a stable party to aspire for any leadership position

Chuks Okocha in Abuja

At the inauguration of the Peoples Democratic Party (PDP) elite research and intelligence arm, the Peoples Democratic Institute (PDI), Governor Seyi Makinde of the Oyo State has urged stakeholders of the party to strive to reconcile the party as a panacea to fixing Nigeria.

Going down memory lane, Makinde said PDP’s problems started in 2015 due to disagreement among stakeholders

Former Senate President Bukola Saraki also appealed to members of the party to ensure a stable PDP as no one can aspire to any office without a stable political party.

Both Makinde and Saraki spoke at the inauguration of the PDP's PDI Board of Governors yesterday in Abuja.

Speaking as the special guest of honour, Makinde said that Nigerians have tested the All Progressives Congress (APC) and PDP and clearly state between the

two parties - which has a better ideological background to move the country forward.

According to Makinde, ''As the popular saying goes, when you marry two wives, you know who is better. We have tested the PDP and the APC. We now know which one is better. Please return to your first love which is the PDP.''

Referring to the APC-led federal government, Makinde said that the present administration has ''brought renewed trouble to Nigerians. Things are bad. Things have turned from bad to worse. We are now in renewed trouble. The PDP has to bring back a real renewed hope for Nigerians. We really need a new direction for Nigerians.''

“As we approach 2027, it is clear the PDP has to provide real hope for Nigeria. And by revitalizing the PDI, that real hope is being provided for our people.

“Our country needs direction. Nigerians are looking up to the PDP to provide an ideological foundation.'', he said while unveiling

the PDI board of governors.

On his future role in the PDP, Makinde vowed never be a part of the processes that would destabilise the PDP.

He said: ''For me also, from 2019, I've been benefitting from PDP. So, I want to say thank you to our great party, and all the stakeholders gathered here today, for giving me the opportunity to get not one, but two mandates, back-to-back, under this umbrella.

“The only thing I can promise you is that since I fetched water from that well, and have been drinking since 2019, I will not pollute the well when it is time to exit that position. I thank the stakeholders for giving me that position back-to-back

''The PDP can, and will do everything in its power to fix Nigeria. We can fix Nigeria. We'll fix PDP and then PDP will fix Nigeria. And that will be the basis of real hope for the people of Nigeria.

''So, I have a final question.

When the history of Nigeria is written, because history is being made today, you and I will be remembered as the people who stood up to say, yes, that's a Nigerian dream.

''That dream will be shaped by a clear political ideology and the clear political ideology by the PDP through the PDI will shape that ideology. So, my question is, are you ready?

''Nigeria needs an ideological rebirth and this is the idea of the PDI and the unveiling of the road map'', while appealing for support of PDP stakeholders for the November 16 governorship election in Ondo State.''

Speaking also, the former senate president said, ''We've built this party. Parties are built on ideas, philosophies and policies. Let us move away from building ideas on self, on ambition. We cannot have an ambition if we don't have a party.''

According to Saraki, ''We cannot have a party if we don't have ideas.

Largest Containership, EA Centaurus Berths at Apapa Port

Eromosele Abiodun

APM Terminals Apapa yesterday celebrated a historic achievement as the largest containership ever to visit Nigeria's Lagos Port Complex Apapa docked at its terminal.

The event marked the first time a Nigerian port welcomed the EA Centaurus, setting a new milestone for Nigeria's premier port.

The vessel is owned by COSCO Shipping and currently flies the Singaporean flag. The containership, measuring 272 metres in length, 43 metres in width, and with a 14.3-meter draft, boasts a capacity of 7,000 twenty-foot equivalent units (TEUs).

The vessel’s arrival was celebrated by senior officials from APM Terminals, COSCO Shipping, the Nigerian Ports Authority (NPA), and the Nigeria Customs Service, underscoring the importance of this moment for Nigeria’s trade sector.

Commenting on the historic berthing, APM Terminals Apapa's

Terminal Manager, Steen Knudsen, emphasised the economic implications of welcoming such a large vessel.

“The arrival of EA Centaurus represents a turning point in the size and scale of vessels that Apapa can handle. Larger ships mean more efficient economies of scale, which can ultimately lower the cost of imports to Nigeria. This milestone is a testament to Nigeria’s increasing trade capacity and APM Terminals’ commitment to supporting this growth,” Knudsen said.

Knudsen highlighted the operational advantages for both the port and its customers, adding, “By consolidating more cargo onto a single vessel, we’re enhancing efficiency and lowering freight rates for importers. This is a direct benefit to Nigeria’s economy, as it reduces import costs and encourages more robust trade activity.”

Chief Commercial Officer of APM Terminals Nigeria, Caroline AubertAdewuyi, expressed enthusiasm

over the partnership between APM Terminals and COSCO Shipping, calling it an important step forward for Nigeria’s trade infrastructure.

“This vessel, with its 7,000 TEU capacity, marks a new level of cooperation between APM Terminals and COSCO, as well as Nigeria’s commitment to improving its import and export capabilities.

“We’re looking forward to the positive impact on growth, not only for the country’s economy but also for our customers and trade partners,” Aubert-Adewuyi remarked.

Managing Director of COSCO Shipping Lines Nigeria, Rex Wang spoke on the strategic importance of the arrival of EA CENTAURUS.

“This is a landmark event for COSCO, as it is the largest vessel we’ve handled in this region, underscoring the expansion of our services in West Africa,” Wang said.

He expressed confidence in the region's resilience and potential for growth, adding, “Our expanded

capacity in West Africa will bolster our market presence, and we are optimistic about an economic rebound, supported by an increase in exports like minerals, sesame seeds, and cashews. We believe in the continued recovery and growth of West African trade.”

Customs Area Controller, Apapa Command, Comptroller Babatunde Olomu, pledged the Nigeria Customs Service’s support in facilitating swift cargo processing.

“This achievement highlights our commitment to ensuring the rapid and efficient handling of larger shipments. We are dedicated to trade facilitation, which not only boosts revenue but also encourages more vessels of this scale to berth at our ports,” Olomu stated.

Port Manager of Lagos Port Complex Apapa, Adebowale Lawal Ibrahim, represented by Traffic Manager, Jimoh Anthony, emphasised the significance of handling such a “gigantic vessel.”

This is where it starts from. This is the foundation that is important.

“Let us desist from talking about who is running for councilor, or who is running for governor, or who is running for president in 2027.

''Let us talk about what is PDP. What does PDP represent? What are the issues and policies that we must take into account?

This is what is important for us.

This is what Nigerians outside want to know. This is what is important.''

Saraki who pledged his support to the PDI with N10 million added: "I hope all others will support it. Because this is the foundation''.

The acting national chairman of

the party, Amb. Illya Damagum, represented by the National Organising Secretary, Umar Bature, said the aim of inaugurating the PDI board of governors was to revitalise the intellectual arm of the party for the growth and development of the PDP.

The Director General of the PDI, Dr. Edward Adie, said the reinvigorated PDI would be the think tank of the party as well as training of all elected officials of the PDP

He said that it is modelled after the United States, National Democratic Institute (NRI) and the National Republican Institute (NRI)

Ethiopian Airline Introduces New A350-1000 Aircraft to Lagos-Addis Ababa Route

Chinedu Eze

Ethiopian Airlines yesterday operated its first Airbus A350-1000 aircraft from Addis Ababa to Murtala Muhammed International Airport (MMIA), Lagos.

Ethiopian Airlines is the first country in Africa to receive the state-of-the-art aircraft, delivered from Airbus major factory in Toulouse, France few days ago amid fanfare.

The delivery has deepened the relationship between the successful East African carrier and the European plane maker.

The aircraft arrived Nigeria with 272 passengers: 15 in Business Class and 257 in Economy. The passengers testified about the sophistication and comfort of the aircraft as they disembarked and continued to take photograph of the equipment with excitement.

In a small ceremony to welcome the new aircraft to Nigeria, the General Manager of Ethiopian Airlines in Lagos, Wondwossen Beyene, said the flight was the first commercial flight of the aircraft and reiterated the commitment of Ethiopian Airlines to the Nigerian market.

"The A350-1000 boasts a revolutionary design with innovative aerodynamics and a carbon-fiber fuselage, powered by the fuel-efficient Rolls-Royce Trent XWB

engines, ensuring a quieter, smoother journey for long-haul travel.

“It is a game-changer in the aviation industry, boasting unparalleled comfort, efficiency, and technological advancements.

"On board, passengers will experience unparalleled comfort on this aircraft because It is the first aircraft to feature Thales's AVANT Up inflight entertainment system and the HBC+ connectivity system, providing travelers with luxurious amenities, high speed internet connection, large screens, unique landscape camera and spacious seating with direct aisle access for all business class seats," Beyene said. He said the aircraft has increased cargo capacity, which enhances seamless transportation of goods and services, assuring that the aircraft will not only elevate the travel experience for passengers but also strengthen trade and economic ties between Africa and the rest of the world.

"Today's event would not have been possible without the tireless efforts of Ethiopian Airlines' team, and the Federal Government of Nigeria, the Nigerian Civil Aviation Authority, and the Lagos State Government for their unwavering support. We are expecting three more Airbus A350-1000 Aircrafts in a few months ahead," he added.

L-R: GCEO, NNPCL, Mele Kyari; Minister of Finance and Co-ordinating Economy, Wale Edun; and Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr Gbenga Komolafe, at an interactive session between Senate Committee on Finance and stakeholders in Petroleum sector yesterday in Abuja JULIUS ATOI

OBI DONATES 50 MILLION NAIRA TO UNIVERSITY ON THE NIGER...

Report: AI, 5G Will Bridge 60% Connectivity Gap, Unlock $70bn GDP Growth in sub-Saharan Africa

GSMA, yesterday, launched the Mobile Economy sub-Saharan Africa 2024 Report, which highlighted opportunities in Artificial Intelligence (AI), Fifth Generation (5G), and satellite connectivity that would bridge a 60 per cent usage gap and unlock $170 billion in GDP by 2030.

According to the report, the mobile industry’s $140 billion contribution to GDP in 2023 is projected to reach $170 billion by 2030 if key connectivity barriers are addressed, adding that mobile technology is essential in supporting development goals across key sectors like healthcare, education, and finance, driving economic growth by expanding internet access and digital services.

The report highlights that 4G expansion is set to drive connectivity, projected to account for half of all connections by 2030. It however said a significant coverage gap remained, with 13 per cent of the population still unreached,

and a 60 per cent usage gap affecting those who live within coverage areas but face barriers to get online, such as unaffordable devices, limited digital skills, or online safety concerns.

In addition to the connectivity challenges, the report explains that the region faces high operating costs, inflationary pressures, and energy price volatility.

Despite the obstacles, emerging trends such as generative AI and satellite partnerships present innovative solutions to bridge gaps across sectors. Broader API solutions, such as GSMA Open Gateway, which recently launched security APIs in South Africa, are poised to enhance digital security and simplify services as the initiatives expand regionally. Addressing these issues is essential to unlocking the socio-economic potential of mobile connectivity in sub-Saharan Africa, the report said.

Giving further findings of the report, Head of sub-Saharan Africa, GSMA, Angela Wamola, said: “Our findings this year reveal both the

Heritage Bank: NDIC Begins Loan and Asset Recovery to Settle Uninsured Deposits

Nume Ekeghe

Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC) Bello Hassan has disclosed that the corporation has commenced asset recovery and loan retrieval efforts for the defunct Heritage Bank.

These actions are aimed at reimbursing depositors with balances exceeding the N5 million insured deposit cap and fulfilling other liabilities.

Hassan disclosed this at NDIC Special Day during the ongoing Lagos International Trade Fair in Lagos yesterday.

Represented by the Director of Corporate Communications and Public Affairs, Nuhu Bashir, highlighted the corporation’s focus on recovering outstanding loans from Heritage Bank’s debtors.

Nuhu noted that the NDIC has initiated discussions with debtors, setting specific timelines for loan repayments to ensure timely compensation of uninsured depositors

through liquidation dividends.

He noted that in the wake of the Central Bank of Nigeria’s (CBN) revocation of Heritage Bank's operating license on June 3, 2024, the NDIC acted swiftly, reimbursing insured depositors within four days.

The corporation utilised Bank Verification Numbers (BVN) as unique identifiers to process payments directly to alternate bank accounts, covering insured sums for approximately 86 percent of depositors coverage limit for Deposit Money Banks from N500,000 to N5 million.

He said: “While our immediate focus remains on insured deposits, the NDIC is also committed to ensuring that depositors with balances exceeding N5 million are compensated. In this regard, the Corporation has already initiated the process of realising the bank's assets and recovery of debts owed to ensure the timely payment of the uninsured depositors by way of liquidation dividends.”

extraordinary potential and the challenges facing sub-Saharan Africa’s mobile ecosystem. To fully realise the benefits of connectivity, it is essential for operators, policymakers, and stakeholders to address affordability barriers, support infrastructure expansion, and foster collaborations that drive digital inclusion and economic impact.”

Addressing persistent usage gap, the report said mobile internet penetration in sub-Saharan Africa reached 27 per cent by the end of 2023, yet a substantial usage gap of 60 per cent remaind.

“The gap represents millions who live within network coverage but face barriers such as device affordability, digital skills deficits, and concerns around online security. Globally, 3.1 billion people, about 39 per cent of the global population, are impacted by the usage gap. The sub-Saharan Africa is the least connected region, with the largest usage gap worldwide,” the report said. In the area of expansion of 4G coverage and early 5G growth, the report said: “The region’s 4G adoption is forecast to reach 50 per cent by 2030, overtaking 3G as

the primary technology. Although 5G adoption remains in its early stages, it is projected to reach 17 per cent of total connections by 2030, primarily in South Africa, Nigeria, and Kenya.”

For the economic impact and infrastructure needs for 5G, the report added that by 2030, 5G alone would be expected to contribute $10 billion to the region’s economy, accounting for 6 per cent of the mobile sector’s total economic impact. The report emphasised the need for progressive spectrum policies, particularly the release of mid-band spectrum, to support

long-term growth and equitable digital access. Additionally, 5G Fixed Wireless Access (FWA) is gaining traction as a primary broadband solution in countries such as Angola, South Africa, Nigeria, Kenya, Zambia, and Zimbabwe, addressing demand for high-speed connectivity in underserved areas, the report said. The report advocated for a series of critical actions to ensure sustainable growth and digital inclusion, such as Affordability reforms, Revitalised Universal Service Funds (USFs), and Progressive Spectrum Policy.

FG Gets Report on Incessant Power Collapse, Begins Immediate Implementation

Emmanuel Addeh in Abuja

The federal government has received the report of a committee set up to investigate the immediate and remote causes of frequent electricity grid collapse in the country.

The government has also pledged to begin immediate implementation of the recommendations by the committee led by the Executive Director of the Independent System Operator (ISO) Nafisatu Ali.

Also yesterday, the Minister for Power, Chief Adebayo Adelabu, ordered the Transmission Company of Nigeria (TCN) and all other relevant agencies of the ministry to begin the immediate implementation of the recommendations of the inter-agency committee.

The minister's matching order came as the TCN reported that the national grid experienced a disturbance at approximately 11:29 am, on Thursday, November 7, 2024, caused by a sudden rise in frequency from 50.33Hz to 51.44Hz.

Speaking at the event where the report was presented in Abuja, the Minister of Power, Adelabu, stated that the negative implications of grid failures were far-reaching on the economy of the country, including constraining the livelihoods and businesses of Nigerians.

According to Adelabu, grid collapse also negatively impacts the growth and development of the education and health sectors as well as small-scale industries.

“Everybody is interested in this

report, and they're also interested in what we make out of the report. It is not so much about putting the report together, the content matters.

“And I've gone through, I must tell you, even though we're still listening to official presentation, it's quite deep, it's quite comprehensive, and it's quite inclusive. And the recommendations are practical recommendations, realistic recommendations, that are implementable, and I believe will bring an end to this ugly trend,” Adelabu stated.

The minister explained that by now the issue of grid collapse should be a thing of the past, citing aging facilities as well as poor maintenance in the past as part of the reasons.

“But it is not a situation that is not insurmountable. We can correct it. We can reverse it, if we all believe in this. It touches on our operations and maintenance culture. And the federal government has taken major steps in ensuring that the entire transmission network is revamped through the various projects that have been put into place.

“If we can carry out or implement all this, I believe the issue of grid collapse will be a thing of the past. So we have a lot of work to do, I must tell you,” Adelabu told the heads of agencies under the ministry.

Speaking on the occasion, the Chairperson of the committee, Ali, in her presentation, proffered solutions and strategies to surmount the challenge.

In the short-term, she recommended a review of ‘relaying philosophy’ and settings, particularly at critical nodes, capacity development for maintenance/ System Operations (SO) staff as well as testing of existing equipment at the critical nodes to establish reliability.

She further called for the development of a framework and adopt reliabilitycentred maintenance and identification of critical ongoing projects for speedy completion (low hanging fruits)

In the medium-term, Ali stated that the authorities must strengthen relay coordination, replace aged and obsolete equipment, enhance SCADA and telecommunication tools, develop a framework to attract private investment across the value chain and deploy IoT device on generating units and transmission lines.

The committee’s report further stressed the enforcement of Free Governor Mode of Operation (FGMO) and removal of ad-lash taped optic fibre.

In the long term, the report said there was the need to enhance distribution network and capacity, promote decentralised grid management and implement full SCADA and telecommunication upgrade across the network.

Besides, a statement in Abuja by the Special Adviser to the Minister on Strategic Communications and Media, Bolaji Tunji, quoted the minister as saying that all relevant agencies in the ministry must brace up for the immediate implementation of the

recommendations of the committee.

“The recommendations of the committee are far reaching and will proffer lasting solutions to the incessant power grid collapses that we have embarrassingly witnessed in the country in the immediate and long term,” Adelabu said.

Reacting to the grid failure yesterday, the TCN in a statement by its General Manager, Public Affairs, Ndidi Mbah, blamed a disturbance at around 11:29am, caused by a sudden rise in frequency from 50.33Hz to 51.44Hz. Mbah stated that recovery efforts began immediately, adding that the Abuja axis was restored within 28 minutes while recovery for other parts were ongoing.

“The frequency spike was caused by issues encountered at one of our substations, which had to be shut down to prevent further complications. In addition to this, we are actively engaged in significant repair work on several critical transmission lines and substations.

“This includes the 330kV transmission lines along the Shiroro–Mando axis, major upgrades at the Jebba Transmission Substation, and the restoration of the second Ugwuaji–Apir 330kV transmission line.

“Furthermore, following the submission of the investigative report on the causes of previous grid collapses, we have begun addressing the identified weaknesses in the transmission system.

Emma Okonji

Mr. Peter Obi (centre), presenting a cheque of 50 million Naira to Bishop Owen Nwokolo (left) for the University on the Niger to support its continued improvement, with Prof. Nebo, the Vice Chancellor of the University on the Niger, standing by (right).

21 YEARS IN MEMORIAM

1930 - 2003

SIR TAIWO VICTOR

HE SENT FROM ABOVE, HE TOOK ME; HE DREW ME OUT OF MANY WATERS.

HE DELIVERED ME FROM MY STRONG ENEMY, FROM THOSE WHO HATED ME, FOR THEY WERE TOO STRONG FOR ME.

THEY CONFRONTED ME IN THE DAY OF MY CALAMITY, BUT THE LORD WAS MY SUPPORT. HE ALSO BROUGHT ME OUT INTO A BROAD PLACE; HE DELIVERED ME BECAUSE HE DELIGHTED IN ME.

YOU HAVE ALSO GIVEN ME THE SHIELD OF YOUR SALVATION; YOUR RIGHT HAND HAS HELD ME UP, YOUR GENTLENESS HAS MADE ME GREAT.

YOU ENLARGED MY PATH UNDER ME, SO MY FEET DID NOT SLIP.

PSALM 18:16-19, 35-36

REQUEST OF EXPRESSIONS OF INTEREST FOR APPOINTMENT OF CONSULTANT TO TRAIN SBMC ON THEIR ROLES, RESPONSIBILITIES AND SUPPORT DEVELOPMENT OF SCHOOL IMPROVEMENT PLAN (SIP) AND SUPERVISION OF ACTIVITIES

Credit No.: P170664

Reference No.: NG-KWARA AGILE ADF-445532-CS-QCBS

Issue Date: 8th November, 2024

The Kwara State Government has received financing from the World Bank toward the cost of the AGILE project, and intends to apply part of the proceeds for consulting services.

2. The consulting services (“the Services”) include:

(i) monitoring of the activities under School Improvement grants (SIGs).

(ii) Carryout training of SBMC members on the content of the project.

(iii) Provide technical support to SBMCs by reviewing the School Improvement Plan (SIP) in line with World Bank guidelines.

(iv) provide technical guidance and supervise the efficient utilization and management of large School Improvement Grant (SIG) through tracking of the School Improvement Plans (SIPs) implementation activities

(v) Support and supervise the SBMCs in executing the project

(vi) Monitor and verify the progress of work and certify completion of 50% of work and certify the release of second tranche for disbursement.

(vii) Carry out periodic visit to the sites for verification and quality assurance as agreed with the SPIU.

The duration of the engagement will be for a period of 3 years.

3 The Kwara State AGILE hereby wishes to invite your firm to indicate interest in providing the Services. If your firm is interested, please provide information demonstrating that your firm has the required qualifications and relevant experience to perform the Services.

The detailed Terms of Reference (TOR) for the assignment will be made available on request at the address given below.

The shortlisting criteria are:

(i) At least 7 years of proven General experience working on project management/construction.

(ii) At least 5 years proven experience of working on similar assignment

(iii) Experience conducting qualitative research on education sector in Nigeria

(iv) the firm is required to demonstrate its technical and managerial capabilities. All interested firms are to submit the following;

i. Evidence of registration with Corporate Affairs Commission CAC

ii. Evidence of Company’s current tax clearance for the last three years (2021, 2022, 2023)

iii. Company audited account for the last three years (2021, 2022, 2023)

iv. registration with NSITF

v. registration with PENCOM

vi. Registration with ITF

vii. Registration with Kwara State Public Procurement Agency

viii. VAT Registration and Remittance

4. Please take note of Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” September 2023, setting forth the World Bank’s policy on conflict of interest, specifically as related to information on conflict of interest on this assignment.

The paragraph reads: “Consultants (including their experts and other personnel, and sub-consultants), that have a close business or family relationship with a professional staff of the Borrower, or of the project implementing agency, or of a recipient of a part of the Bank’s financing, or any other party representing or acting on behalf of the Borrower, that is directly or indirectly involved in any part of:

a. the preparation of the TOR for the assignment;

b. the selection process for the contract; or

c. the supervision of the contract, may not be awarded a contract, unless the conflict stemming from this relationship has been resolved in a manner acceptable to the Bank throughout the selection process and the execution of the contract.”

5. Meanwhile, Consultants may associate with other firms to enhance their qualifications, but should indicate clearly whether the association is in the form of a joint venture and/ or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.

6. Please be informed that Consultant will be selected in accordance with the Quality and Cost Based Selection method set out in the Procurement Regulations.

7. Further information can be obtained at the address below during office hours of 9am to 5pm.

Expressions of interest must be delivered in a written form to the address below in person and by e-mail on or before 6th December, 2024.

The State Project Coordinator, AGILE Project Office, No 17, Agba Road, G.R.A, Ilorin, Kwara State, Nigeria. +234-8124700145, 234-8036422710

Email: kwarastateagile@gmail.com, CC: nihinlolabolarin@gmail.com

TINUBU’S

N200BN INTERVENTION FUND

The real sector – agricultural and industrial - is a critical factor for ec onomic growth its industrial sector. In fact, this sector is the mitochondrion of a productive economy.

Nigeria is endowed with a vibrant consumer market – the largest in Africa. And where there is consumption, there is demand, and there should be commensurate local production. Incentivising production and creating the enabling environment for businesses to thrive are indispensable for sustainable economic growth and job creation.

Tinubu has taken ingenious decisions to ensure the blossoming of Nigeria’s industrial and sundry sectors, as well as to stimulate and pyramid the variables for job creation. For instance, he issued executive orders to enhance local production of healthcare products and incentivise agricultural and consumer goods production, in addition to gas industry.

FREDRICK NWABUFO tracks the administration’s measures to support the manufacturing sector progress.

Among the robust measures to support the manufacturing sector, inclusive of micro, small, and medium scale enterprises, is the

MSME Intervention Fund, and FGN Manufacturing Sector Fund.

nano-business owners, especially women the country.

The FGN MSME Intervention Fund is 9 percent interest rate, while the FGN Mansupport to eligible manufacturing businessbillion at a comparable interest rate.

The programme is being implemented by

Here is a status update on the programme

The sum of N38.8 billion has been disLGAs and area councils of the FCT.

• Letters have been sent to state governors

persons in the respective states to completegramme.

Twenty-Three states (Abia, Adamawa, FCT-Abuja, Gombe, Jigawa, Kaduna, Kano, have responded with the details of the nominated focal persons.

Yobe, Taraba, Kogi, Abia, Akwa lbom, Ka-

• The programme seeks to disburse loans of

• The Federal Ministry of Industry, Trade &

applicants submitted completed information, out of which 932 have been evaluated and approved for disbursement, which is ongoing. have been contacted to submit missing documentation.

The National Association of Small and Me-an Association of Small-Scale industrialists involved to ensure that their membership is members of NASME are being evaluated.

The programme seeks to disburse up to N1 funds under this programme have been fully allocated.

manufacturing companies with a total loan

to eight manufacturing companies. Some 23 other projects valued at N9.1 billion are currently at various stages of disbursement.

The remaining 112 companies valued at of meeting the conditions precedent to loan -

South-South - 7.

facturers. This is to provide additional validation of the loan applicants for the programme.

Nwabufo is Senior Special Assistant to the President on Public Engagement

We must do more to safeguard the planet, argues JOSHUA J.OMOJUWA

PRINCE WILLIAM’S EARTHSHOT PRIZE AND AMERICA’S NO. 47

He will go down in history as the one with two numbers and one of them was 45. If you are thinking, ‘Michael Jordan,’ then you aren’t thinking. Or maybe you aren’t just in the moment. The United States is what it is, the rest of the world must take more responsibilities for the sake of our planet. With U.S. President 47 coming, the earth will need more sustainability shots than ever, because he may be deemed bad at many things, he is good at keeping to his ways. His ways are not exactly about green or circular economies and sustainable development may be as alien to him as pretending to be anything but himself.

This is why the Earthshot Prize and other such sustainability initiatives are important. Founded by the Prince of Wales, the Earthshot Prize runs a holistic and segmented search around the world for what it calls, “game-changing innovations” intended with the rejuvenation of the earth in mind. Five of those innovations are then awarded £1 million each, to help advance and scale their projects. The beautiful thing is, the other finalists who don’t get chosen for the prize end up as winners too, as the focus given to their work by the Earthshot nomination helps them attract investors and other supporters. In that sense, the earth wins, because virtually all the highlighted innovators win.

This year, having been selected by its 400 official nominators who have now selected 15 of the most impressive innovations, the lot of them selected across rural and indigenous communities, big business and even governments. The solutions are around what are considered five Earthshots needed to help recover and restore the earth before it is damaged beyond redemption. They are Protect and Restore Nature; Clean our Air; Revive our Oceans; Build a Waste-Free World and Fix our Climate.

In the end, the winners were Protect and Restore Nature Winner: Altyn Dala Conservation Initiative, Clean Our Air Winner: GAYO, Green Africa Youth Organization, Revive Our Oceans Winner: High Ambition Coalition for Nature and People (HAC), Build a Waste-free World Winner: Keep IT Cool (KIC), Fix Our Climate Winner: Advanced Thermovoltaic Systems (ATS). They will all enjoy ample attention from a global community of change makers who are committed to building a more sustainable earth.

We tend to take it for granted that the earth will take care of itself. That position is counterintuitive when you consider the fact that the world is where it is today because we committed our civilisation towards advancement and the development of better tools. A tendered garden is vastly different from one left to take care of itself, we care for our bodies, most people even wear some protective gear for their phones. We do our best to nurture and protect everything, living or inanimate, that we care about. It just so happens that, the one that holds everything together is treated like an afterthought at best, or forgotten altogether.

The effects could not be more apparent. Our oceans are warming and rising, storms are deadlier and fiercer, floods are claiming more lives than ever, even in developed countries, depleting water bodies are resulting in displacement and even terrorism, food shortage, poverty, etc. When you think about it, some of the world’s greatest challenges today find their root in what we have refused to do: we are not doing enough to safeguard the planet. We think it is the responsibility of some other people, in some other place, to save what belongs to all of us. Even when the cost of indecisions and poor judgments stare us in the face, we refuse to acknowledge the root causes even as we scramble around for shallow

solutions.

As the United States transits to an inevitable new era where America will shirk some of its responsibilities on the world stage whilst a nationalist agenda inevitably grips the nation by storm, the rest of the world must see this as an opportunity for collective responsibility. Our agenda for a protected and nurtured earth will face renewed daunting challenges and to pretend not to know this is to be caught

unawares by a devil you already know. This is not the first rodeo; it is a sequel. Often, sequels are deadlier. We hope for the best, however, hope will not be enough. We’ve got work to do. We continue to assume lessons have been learnt, but evidence suggests we are investing a lot in assumptions when we should be dealing in facts. The fact being that Americans — at least most of its voters — prefer for their country to step away from policing and expending its resources on the rest of the world. They spoke resoundingly in this election. The political system experienced a major shock with the 2016 elections, eight years on, it is hard to call last Tuesday’s a shock because for most of the summer, he appeared on the brink of victory with the Democrats dilly-dallying over what to do with Biden. Here we are.

During his Earthshot speech, Prince William said, “It was an idea that first came to me on African soil. During a trip to Namibia and Tanzania, I was lucky enough to see some of the stunning wildlife that calls this continent home.” This was his testament to the importance of Africa in the work we must do to restore the earth. Africa hasn’t been nowhere as responsible as the rest of the world for the depleting state of the world’s resources. Sadly though, we are suffering some of the gravest consequences. It was great to see two African winners take prizes home; the continent will need more of their innovations to give itself a great shot at reversing some of the effects of climate change.

If we do not act right and fast enough, we will not get more of the same deadly effects of climate change. That’s an optimistic view. This could get worse. Things are out of hand, but they are not out of reach.

Omojuwa

Editor,

Editorial

Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

STILL ON THE CANCER SCOURGE Government must

do more to contain the ailment

Health authorities may not be paying adequate attention but the rate at which cancer is claiming lives in Nigeria has become alarming. Although hardly reported, too many people, young and old and regardless of social status are succumbing to the ailment. Estimated to be the most important cause of morbidity and mortality in the next few decades across all regions of the world, the International Agency for Research on Cancer (IARC) is already projecting that by 2030, over 21 million people will be diagnosed with cancer and 13 million will die from the disease every year. By 2030 also, it is expected that 60 per cent of the new cancer cases and 70 per cent of cancer-related deaths will occur in developing countries, particularly in Africa.

Statistics of deaths from cancer are so chilling that most medical experts are now agreed that the disease has become an important health care concern for the country. It is bad enough that cancer is a terminal disease, it is worse when most Nigerian hospitals and medical centres lack the diagnostic capacity to quickly detect and treat cancer infections. This has greatly compounded the problem, forcing several Nigerians to travel to countries like India, the Emirates, United Kingdom, etc., in search of treatment for the disease. The economic consequence of this is

sible for the growth of cancer scourge in Nigeria? the exact causes of the disease, there seems to be some agreement that one of the major causes is the habit of the people which is not helped by government policy or lack of one. For instance, while most countries are making stringent laws against tobacco use, our government seems to be encouraging it.

Regular exercise, weight loss and imbibing the culture of health maintenance could remarkably reduce the risk of cancer

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

Further complicating the situation is the low awareness of the scourge among Nigerians, especially rural women. The Federal Ministry of Health and the National Orientation Agency (NOA) are yet to create the level of awareness that scourge. Instructively, the most common types of cancer in Nigeria are carcinoma of the uterine cervix and breast for women and liver and prostate cancers for men over 40 years. But what is respon-

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

Yet the burden of cancer is enormous. It is costly and time-consuming to build human resource capacity in cancer control. For instance, it takes at least four years to train an oncologist after medical school, depending on the country of training. Without a strategic planning of the workforce, the whole cancer control infrastructure could be before embarking on the construction of a cancer control facility, it is important to ascertain the availability of clinical oncologists, screening workers, oncology nurses, pathologists, radiation therapy technicians, and palliative care practitioners.

All said, we believe that the task of saving its citizens from the cancer scourge remains essentially with government which must provide both the basic facilities to combat the disease and to create the enabling environment that can facilitate the collaboration of the private sector in tackling the menace. Increased awareness campaigns, improvements in public health and increased funding for health care initiatives - by government, donor agencies, and development partners - are all likely to lead to a decrease in the incidence of the killer disease. Nigerians themselves must also begin to imbibe the culture of regular medical check-ups so they can commence treatment of any diagnosed ailment promptly. Regular exercise, weight loss and imbibing the culture of health maintenance could remarkably reduce the risk of cancer. Prevention, as the old saying goes, is always better than cure.

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

THOUGHTS ON DISASTER RELIEF FUND

rains and discharge of water from the Lagdo lake in neighbouring Republic of Cameroon, the administration of President Goodluck Jonathan initiated a Flood Recovery Food Production Programme (FRFPP).

stroyed crops in over 300,000 hectares of farms and killed more than one million livestock; displaced some 1.3 million families estimated by government at more than two trillion Naira.

ister of State, Bukar Tijani and the Permanent Secretary led the implementation of multiple measures which alleviated the pains and

output and security. But it did not overwhelm the Ministry. Its management calmly thought out solutions for the disastrous effects of the incident.

The federal government released more than N9.7 billion to implement the Flood Recovery Food Production Programme and

rehabilitate its victims. The Federal Ministry of Agriculture and with a few appropriate sister agencies.

to those who lost their crops and homes along with building materials to enable them rebuild or renovate their houses. More than -

ers Niger and Benue were advised to relocate to higher grounds. Medical care was provided by the Federal Ministry of Health in coordination with its counterparts in the states.

The Ministry of Agriculture educated residents of the banks of streams. rivers and dams that most of the debris deposited by the farmers used that knowledge and planted crops in such areas.

Part of the money was used in supplying high-yielding, ear-

from extension service.

holds who went back to land vigorously, leading to massive food

This translated into availability of relatively cheap food within -

facilitate the movements of inputs to farmers and harvested food to markets. Many of those roads were constructed by the IBB-era than a decade earlier.

The FRFPP, one of the ways for mitigating disasters, was implemented successfully. This makes it a model for the extant authorities.ering is probably akin to the one initiated by the General Gowon administration after the 1972/73 drought. President Jonathan also 2012.

Salisu Na'inna Dambatta, former Director, Federal Ministry of Agriculture

POLITICS

Acting Group Politics

Email: deji.elumoye @thisdaylive.com

08033025611 SMS ONLY

Of Umahi and Nigeria’s Infrastructure Revolution

Eni Chima in this piece stresses the need for property owners along the on-going 800 kilometre Lagos-Calabar coastal highway to see reason with the federal government towards ensuring that the N15 trillion project under the direct supervision of the Works Minister, Senator David Umahi, is completed as scheduled.

Not many people will relate President Bola Tinubu’s insistence on adopting Renewed Hope as the payoff of his march to Nigeria’s Presidency.

As the strategic pathfinder to the historic merger of feeble opposition political parties into the mega All Progressives Congress (APC) that ousted an incumbent in 2015, he did not want to diminish hope of Nigerians.

Those who kept track of governance in the preceding eight years must have noted the less than excellent delivery of the promised change that ushered in the APC Federal Government.

But, President Tinubu, determined to right the wrongs of the past, decided to assure Nigerians that all hope was not lost. And so, the Renewed Hope Agenda became inevitable. Addressing Nigeria’s failed attempt to deliver on infrastructure uplift was an essential plank of that thrust.

It was in a bid to ensure that his administration delivers excellent outcomes in the infrastructure score that Mr. President appointed a hands-on engineer as the Minister for Works.

Senator David Umahi’s coming as Works Minister raised public expectations on how determined President Tinubu was to walk the talk of revitalising critical infrastructure in the country. Over and above that promise, as Governor of Ebonyi State, Umahi had transformed his state through massive infrastructure development by his sheer engineering wizardry.

But, barely six months on the saddle as Works Minister, entrenched political interests, ethnic jingoists and business-as-usual contractors put up hurdles across the path to the Renewed Hope Agenda infrastructure train.

Every move the Minister makes to repeat the engineering marvel he prosecuted in Ebonyi State across Nigeria, has been met with one controversy or another. From his insistence that contractors must keep to the terms of their contract, through rigorous supervision to resolve on meeting contract timeliness, Umahi continues to encounter man-made obstacles.

Recently, I was nonplussed at the orchaestrated attempts to pitch the Minister and property owners over the payment of compensation for the right of way in the signature Lagos to Calabar Coastal Highway Road project.

As one who had seen how focussed Umahi can be to deliver on his mandate, I believe he should be allowed to concentrate on his job without politically motivated distractions.

Opposition politicians should also reckon that for the reason that he makes himself ever accessible at every project site should not be used as avenue to issue threats, plan physical and verbal attacks against his person. The plot may be to frighten the Minister to discard his policy of strict personal supervision that road projects deserve.

Minister Umahi likes to be himself. Those who know him, knows that he is not a desktop engineer that derives pleasure in reclining in the office to work on second hand data and information from field officers.

Rather, the workaholic Engineer insists on being at project sites to see things for himself and provide guidance before things go awry. God blessed David Umahi with boundless mass of energy that our country deserves to tap from. He is often hyper-active when it comes to project inspection.

As a precision minded official, he is so meticulous to the point of irritation to staff and contractors. Apart from time consciousness, the minister will stop at nothing to ensure international best practices. He is a stickler for price efficiency, best quality and aversion of asset depreciation.

Umahi could be said to be in a hurry to meet the expectation of his principal and the Nigeria public. As a genius in mathematics, the Works Minister does not fail to crosscheck every figure presented before him without exceptions. With calculator always handy and his pen on the ready, no contractor dares bamboozle him with crazy engineering drawings, befuddling designs or contrived computations.

Nigerians applauded the Minister when they saw him active in the field, taking contractors to

task about quality. He evaluates measurements, scrutinizes casting, digs up base soil, and tests every tiny details to confirm the findings and reports of resident or project engineers.

Ever ready to commend and encourage good jobs, the Minister is wont to condemn with equal energy every trace of bad work. Because he

values feedbacks, Umahi usually creates multiple channels to get feedbacks from stakeholders on every project.

It was therefore depressing to see how such project stakeholders’ meeting and public enlightenment opportunity for the Lagos- Calabar coastal highway disposed a distraught woman

to indecorous behaviour.

It was agonising that the woman broke all known conventions on civil interactions to personally attack the minister.

Eyewitnesses alleged that the woman’s grouse was that several of her properties were demolished despite having the necessary papers and authorizations from government to develop the lands.

Claiming that she led 2023 election campaigns for President Tinubu, the woman heckled, issued serious threats and accused the minister of diverting the road to her estate to spare those of the minister’s friends and other highly placed individuals.

One recalls how not long ago, similar allegations were hurled at the Minister by some Igbo businessmen. Could these be the sacrifice public officers make to serve the people?

While the latest outbursts and vituperations could pass as feedbacks from the project site, the woman in question and those of similar mind-set should recognise the import of project stakeholders in an objective context.

Stakeholders in its holistic meaning, comprises the nation’s citizens that will be affected negatively or positively by the project and country people whose resources are being expended. Then stakeholders must include government at all levels, especially the federal government who are by law the actual owners of waterways, shorelines and beach fronts. The understanding of stakeholders should not be situated in the exclusivity of property ownership, the quality and quantity of certificates and authorizations not withstanding.

-Dr Chima writes from Abakaliki.

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

As Aiyedatiwa, Ajayi Debate for Ondo 2024 Guber Seat...

Olugbenga Abire writes about the recent public debate organised in Akure, the Ondo state capital between the state All Progressives Congress candidate, Governor Lucky Aiyedatiwa and his People’s Democratic Party’s counterpart, Hon Agboola Ajayi, ahead of the November 16, 2024 gubernatorial poll in the Sunshine State.

Debates were not part of our politics until recently. It became necessary to document or reinforce promises made by politicians during campaign tours. The informed voters would love to see what politicians jostling for their thumbs have for them. Since politicians are quick to make outlandish promises, electorates are looking beyond what has been promised to how these things can be achieved.

Even in the City-state where practical democracy was rooted in the fine art of rhetorics and oratory, a distrust existed whenever the controlling thought couldn’t be defined by methodical intellectual process or be intelligently pursued. Every spirit must be tested and be weighed on the scale of objectivity.

Last weekend, Governor Lucky Orimisan Aiyedatiwa of Ondo state, the candidate of the APC and Hon Agboola Ajayi, the candidate of the PDP, peacefully slugged it out in a debate, anchored by a national television at the Dome.

Expectedly, both of them showed great concern for peace as brothers from the same federal constituency. Beyond their personal ambitions, they understood that violence should never be given a chance. They demonstrated this with the beautiful handshakes and hugs. This is the greatest takeaway that all supporters must build on, going forward.

The debate was a civil battle between ‘I will’ and ‘I have’. It was easy for Governor Aiyedatiwa to state the obvious because he has been in the saddle. Experience is truly the best teacher. The thoughts and words of Governor Aiyedatiwa were carefully delivered. For instance, when asked about his plan

towards the exploration of mineral resources in the state for the benefit of the people, the Governor didn’t jump at it like the candidate of the PDP. Aiyedatiwa knows too well that it would be unnecessary to create another unit to oversee mining activities like the PDP candidate suggested when the Ministry of Energy and Mineral Resources exists to take care of that in the interest of the state. I salute the magnanimity of Governor Aiyedatiwa to have told his brother that mining is on the exclusive list. Moreover, beyond his flowing accent and deep sense of truth, Governor Aiyedatiwa showed great understanding of the realities of governance in the 21st century. He was so concerned that he became a self appointed teacher, trashing the calculated deceptions of his major opponent in the November 16, 2024 gubernatorial election. The Gen-Z would have

preferred the usual ‘DJYK Mule’ response to obvious mendacity as against the Governor’s polished ‘Common, stop it’ kinda caution.

Governor Aiyedatiwa’s intervention became necessary because he didn’t want the PDP candidate to infest the impressionable minds with negativities.

If talk is cheap, a debate seen as a lifeline to solidify a weak political party and candidate will definitely come with so much deceptions. Chiefly, to insinuate that APC members in Ondo state defect to the PDP everyday is to slap reality in the face. That’s an audacious lie that pinched everyone in the hall. I was in-between pity and anger. We still need to thank him for not lying about his certificates with different dates of birth. At least, he didn’t argue when Governor Aiyedatiwa brought it up.

Plato, in his autobiography attached to the seventh letter, told tales about his high hope for a political career until democracy foisted a sour grape down his throat with the execution of Socrates. He felt dizzy. He fizzled out.

“The result was that I, who had at first been full of eagerness for a public career, as I gazed upon the whirlpool of public life and saw the incessant movement of shifting currents, at last felt dizzy... And finally saw clearly in regard to all states now existing that without exception their system of government is bad.”

-Abire is Special Assistant on New Media to Governor of Ondo State.

NOTE:

Dike Onwuamaeze

The productivity of the private sector of the Nigerian economy dropped to 46.9 in October 2024 from 49.8 in September 2024, which represented the most pronounced deterioration in business conditions since March 2023.

This was stated in the October 2024 report of the Purchasing Managers’ Index (PMI) of the Stanbic IBTC Bank, which stated that business activity decreased to the largest extent in 19 months, with only the agriculture sector bucking the wider trend to record a rise in output.

The report also said that the sharp falls in output and new orders dented business confidence in October, with sentiment falling to the lowest on record.

It stated that severe inflationary pressures caused an intensification of the downturn in the Nigerian private sector at the start of the final quarter of the year.

The PMI report said: “The rate of decline in private sector output in Nigeria gathered pace in October, quickening to a marked rate that was the most pronounced since March 2023. Respondents indicated thatchallenging economic conditions and high prices had deterred

customers, thereby feeding through to reduced activity. Three of the four monitored sectors saw output fall, the exception being agriculture.”

The report emphasised that, “A recent two-month period of increasing new business came to an abrupt end in October as new orders decreased solidly. In fact, the rate of contraction was the sharpest in just over a year-and-a-half. Panelists reported low customer demand amid rapid inflation.”

According to the report, “overall input costs rose at one of the sharpest rates on record, with selling prices increased accordingly. This resulted in marked reductions in new orders

and business activity, while business sentiment was the lowest in the survey’s history. More positively, firms increased their staffing levels marginally despite the drop in workloads.”

Commenting on the report, the Head of Equity Research West Africa at Stanbic IBTC Bank, Mr. Muyiwa Oni, said: “Nigeria’s private sector activity worsened further in October, with the headline PMI settling at a 19-month low of 46.9 points from 49.8 in September.

“The notable reason for this worsening business environment in October was an intensification of already- strong inflationary

pressures, reflecting currency weakness and higher prices for fuel and transportation. Consequently, there was a marked reduction in new orders and business activity, while business sentiment was the lowest since the survey began in January 2014.”

Oni added: “The downturn in the business environment worsened at the start of Q4:24, still reflecting the impact of price pressures on consumer demand and business investments.

“Currency pressures and high interest rates are further intensifying the lingering pressure on the private sector. This continues to imply that the

non-oil sector’s growth will remain weak, although improved crude oil production relative to the prior year may compensate for this lacklustre non-oil sector’s performance.”

The October data pointed to a renewed fall in purchasing activity, following a first increase in three months during September.

Moreover, the decline was marked and the sharpest since March 2023. Anecdotal evidence suggested that the decline in purchasing was due to a combination of falling customer demand and high prices for inputs.

Disruption in Oil and Gas Operations Imminent as Helicopter Companies Resist Landing Levy

Helicopter companies that provide shuttle service to oil and gas exploration and production companies in Nigeria have reiterated their determination to resist the insistence of a private firm, NAEBI Dynamic Concepts Limited, to charge them $300 per landing of their aircraft, a development that could disrupt oil and gas operations in Nigeria.

Helicopter service providers have already expressed their determination to resist the landing levy in a letter addressed to the Minister of Aviation and Aerospace Development, Festus Keyamo, stating the consequences,

which include the likely disruption of oil and gas operations in Nigeria.

NAEBI Dynamic Concepts Limited working in consonance with the Nigerian Airspace Management Agency (NAMA) and the Ministry of Aviation and Aerospace Development, has directed helicopter service providers to sign Memorandum of Understanding (MoU) on the payment of the said levy.

The helicopter service providers and oil and gas companies have described the levy as illegal because the operators are already paying levies and charges that are in conformity with the Nigerian Civil Aviation Regulations (NCAR).

It was learnt that the oil and gas companies have vowed that if the matter is pushed further, they would suspend oil and gas operations in protest against the levy.

In a letter addressed to the Minister of Aviation under the auspices of Airline Operators of Nigeria (AON), dated November 5, 2024 and titled, “Re: Memorandum of Understanding on Helicopter Landing Levy,” the operators stated clearly why they refused to sign the MoU relating to the applicability of landing levy on helicopter operations by oil companies on oil fields, terminals, platforms, rigs, Floating

Production, Storage & Offloading (FPSO) stations, heliports, helipads, airstrips, aerodromes, etc, describing it as illegal.

The letter also made it clear that contrary to the claim of NAEBI Dynamic Concepts Limited to have had agreement with oil and gas companies on the levy, the feedback was that the oil companies have not had any discussion with the firm and have insisted they would not pay the levy because it is illegal.

The letter also indicated that the oil and gas companies knew that the attempt is to indirectly tax them through the helicopter service providers.

According to the letter, “This

veiled burden could ultimately lead to service disruptions in the future should the oil companies refuse to pay any indirectly imposed levies on their operations and invariably adversely impact the viability of the businesses of our members.

“Therefore, we wish to draw the Honourable Minister’s attention to the seeming arbitrariness of the imposition of $300 per landing, as no metric was provided to indicate how this amount was arrived at. Also, considering the various issues enunciated on the legality or otherwise of the arrangement and the non-conformance with industry due precepts and international standards, we will politely decline

assenting to this MOU.”

Addressing the issues topically, the operators, after exhaustive deliberations, unanimously agreed that the document as presently structured was ‘not fit for purpose and does not address the various concerns expressed by all’, while stating their reasons.

The letter said the Nigerian Airspace Management Agency’s Established Act clearly defines the roles and responsibilities of the agency, particularly as it relates to the provisioning of air navigation services.

Chinedu Eze

Air Peace Introduces Payment Solutions for Seamless Transactions

Chinedu Eze

Air Peace, West Africa’s largest carrier, has announced the integration of the Opay Payment Service into its Internet Booking Engine (IBE) platform.

The new partnership, featuring diverse payment options such as Bank Card, Opay Wallet, Bank Transfer, and Bank USSD, reinforces Air Peace’s commitment to delivering an enhanced, secure, and seamless payment experience for its customers.

Commenting on the launch, Head of Corporate Communications at Air Peace, Dr. Ejike Ndiulo, said: “At Air Peace, we are continually evolving to meet our customers’ needs. Integrating the Opay Payment Service into our booking platform aligns with our dedication to providing unparalleled convenience,

giving our passengers flexible and secure payment choices in a single interface.”

“Our mission has always been to make the travel experience as smooth as possible, and this initiative marks another significant milestone in achieving that goal,” he added.

The airline further explained that this collaboration with Opay is part of Air Peace’s broader efforts to optimize the booking and travel experience.

On October 2022, Air Peace launched its partnership with Kalabash to offer Pay-SmallSmall, a payment option that allows customers to plan and pay for their flights in stages. This innovative approach to payment flexibility enables more people to afford their travels with ease.

Also, in October 2022, Air Peace introduced a comprehensive travel insurance product in partnership with AIICO Insurance, underscoring its commitment to customer safety and peace of mind throughout the journey.

“Air Peace has consistently demonstrated leadership in service innovation, from enhancing customer convenience through new technology to expanding its domestic and international routes. Founded in 2013, Air Peace is Nigeria’s largest airline and West Africa’s leading carrier, serving an extensive network of destinations across Africa and beyond. The airline is driven by its vision to interconnect regions and offer world-class services to its valued passengers,” Ndiulo further said.

EMR Seeks Collaboration to Boost Maritime Sector in Niger Delta

Blessing Ibunge in Port Harcourt Energy and Maritime Reporters Corps (EMR) has called for collective efforts in the promotion of the maritime sector in Rivers State.

This is as the Nigerian Institute of Marine Engineers and Naval Architects (NIMENA) has raised the alarm over absence of professionalism and lack of standardisation of the maritime sector in the country, noting that some certifications were being ridiculed abroad.

Chairman of the EMR, Mr Martins Giadom made the call at the 2024 Seminar and Awards event, organised by the media group, with the theme, “Understanding the

Maritime Subsector and Issues in the Coastal Areas,” in Port Harcourt. Giadom emphasised the need for collective effort to develop the sector and highlighted EMR’s commitment to building a strong maritime, oil, and gas industry in the country, particularly in the South-South zone.

He said: “We seek active collaboration from critical stakeholders, including NIMENA, MACBAN, CFRRRN, MWUN, NIMASA, NIWA, Customs, Indorama Petrochemicals, NPA, clearing agents, terminal operators, Shippers Council, to support the maritime subsector.”

In his remarks, National Chairman of NIMENA, Dr Daniel

Tamunodukobipi, decried poor certifications of boats, which have led to increased boat accidents in the country.

Speaking on the sub-theme; “Maritime Safety Concerns and Approaches”, Tamunodukobipi urged the government to employ core professionals in order to harnesses the blue economy.

“People are employed in ministries and agencies where they have not competencies. For instance, the newly created ministry of Marine and blue economy has no maritime experts, they have no marine engineers; their website is empty because the people there are square pegs in round holes,” he said.

SAHCO Wins Neos Air Ground

Skyway Aviation Handling Company (SAHCO) Plc, a leading Ground Handling service provider in Nigeria, has announced its new partnership with NeosAir starting from October 30th, 2024 that would be flying from Milan Malpensa Airport in Italy to Murtala Muhammed International Airport in Lagos once a week.

Under this new agreement, SAHCO will be providing full ground handling services for NeosAir which include Ramp handling, Passenger handling, Baggage handling, Cargo handling, Aircraft cleaning, and more.

SAHCO’s experienced team and state-of-the-art equipment are fully prepared to meet the unique needs of NeosAir’s operations, ensuring seamless and efficient turnarounds at the Murtala Muhammed International

Handling Contract

Airport in Lagos, Nigeria.

Chairman, SAHCO, Dr. Taiwo Afolabi, said: “We are thrilled to partner with NeosAir on this important venture. The patronage reflects the trust and confidence that NeosAir has in our capabilities. We are committed to delivering the highest quality of service to support their operations, ensuring safe, timely, and efficient ground handling for their flights.”

He went on to emphasise that SAHCO is ISAGO and RA3 certified which means that SAHCO has the

certification to handle all Europe bound cargo and can accept shipments from Europe as well. Furthermore, SAHCO has a proven track record of providing top-tier ground handling services to major airlines operating in Nigeria. The company is known for its dedication to safety, efficiency, and customer satisfaction. With the addition of NeosAir to its growing list of clients, SAHCO continues to strengthen its position as a leading ground handling service provider in the region.

NAMA Boss Calls for Increased Productivity, Innovation

The Managing Director of the Nigerian Airspace Management Agency (NAMA) Ahmed Umar Farouk has charged general managers in the agency to ensure that NAMA’s processes and procedures maintain optimal standards to keep pace with those of air navigation service providers (ANSPs) globally.

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Eromosele Abiodun

Deputy Business Editor

Chinedu Eze

Comms/e-Business Editor

Emma Okonji

Asst. Editor, Energy

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Peter Uzoho (Energy)

This, Farouk said could be attained through enhanced productivity, efficient service delivery and innovation.

The NAMA Managing Director who spoke while declaring open the 2024 General Managers’ retreat which held in Keffi, Nassarawa State, said this charge became imperative given that the burden of implementation of the strategic plan of the agency rested squarely on the shoulders of general managers as they “are the trigger point to drive and achieve NAMA’s mission statement.’’

Represented at the event by the Director of Air Traffic Services, Mr John Tayo, Farouk maintained that general managers as the link between staff and management played a crucial function in the policy making

AIR WATCH

United Nigeria Airlines Set to Establish Maintenance Facility in Nigeria

Chinedu Eze

It was a moment of joy for the aviation industry last week, when the Chairman and CEO of United Nigeria Airlines announced that the airline plans to establish Maintenance, Repair and Overhaul (MRO) facility in Nigeria, in partnership with Cronos Aviation.

Although the Chairman and CEO of United Nigeria Airways, Professor Obiora Okonkwo, is yet to conclude where United Nigeria Airlines and its partner would locate the facility, but aviation stakeholders are happy that the call by the federal government for the establishment of major MRO facility in Nigeria, to enable Nigerian airlines maintain their aircraft locally, is beginning to yield results.

Maintaining aircraft locally has immense benefits, which include less demand on foreign exchange, job creation, especially highly skilled manpower development and generation of foreign exchange, as airlines from other countries will come and maintain their aircraft in Nigeria and pay for the services in dollars.

It is projected that Nigerian airlines and other aircraft owners in Nigeria spend over $2 billion annually on aircraft maintenance overseas, but with the planned establishment of MRO facility in Nigeria, the country could save over $1 billion annually.

Currently there are some maintenance facilities in Nigeria, which include Aero Contractors AMO, 7 Star maintenance hangar and others for private jets and another for helicopter. But all these cannot conduct maintenance on wide body and modern aircraft. They can do that on narrow bodies like Boeing 737 classic, Bombardier, some private jets and helicopters.

process of the agency through invaluable advice and feedback from the workforce, stressing that that in recognition of this onerous duty, management was “making serious efforts to provide the right enabling work environment as well as incentives to the general managers to ensure their duties are discharged seamlessly and efficiently.” He expressed confidence that “these incentives would further motivate you towards the achievement of the agency’s set goals and further ensure that you are accorded the status befitting of your positions as industry best practice dictates.”

Earlier in her remarks, the chairperson of NAMA general managers’ forum, Dr. Joy Umeh, appreciated NAMA management for the remarkable steps taken to ensure improved working conditions for general managers and the generality of the workforce, noting that the move has greatly improved our operations and created a conducive environment for effective coordination and excellence.

While announcing the plan to establish the maintenance facility in Nigeria, Okonkwo said: “You remember that our base is in Enugu and it would have been our desire to site it there. As of today, there is a very serious intention from the government of Enugu for it to be there, for them to partner with us. But, you know, sometimes it’s also important to back intentions with actions. But right now, we have alternatives and options, which we are reviewing, and then we pick it up in the very shortest time. So, there are options. We have some very viable options but where we should put it will remain a commercial secret for now.”

Some industry stakeholders told THISDAY that citing such facility in Enugu would boost the goodwill of the state as aviation hub because it will deepen the involvement of Enugu in aviation development in Nigeria.

“Do you know why countries and companies spend money to host events and businesses? It is because of other attractions, including good name and good image. If he builds such facility in Enugu, it will open up the state and create jobs, but there could be other viable locations like Lagos, Abuja and the Nigerian College of Aviation Technology, Zaria. Establishment of such facility in Nigeria will create a lot of skilled jobs and training. This is a low hanging fruit for Enugu State government to take advantage of and I hope there is interface going on between the state governor and the Chairman and CEO of United Nigeria Airways. It is an opportunity the governor should not miss,” a major travel agent told THISDAY.

In July this year, the Minister of Aviation and Aerospace Development, Festus Keyamo, spoke

about the importance of establishing a major MRO facility in Nigeria and noted that for such facility to be successful, it would have to be private sector driven. He also disclosed that some foreign investors had indicated interest in investing in such facility in Nigeria because of the potential Nigeria has as a major travel destination, considering its growing population and the predilection of Nigerians to travel.

The Minister spoke about the importance of having major MRO, saying that it will save Nigeria a lot of money because Nigerian airlines will no more ferry their aircraft overseas for maintenance, an action that will reduce forex demand of Nigerian carriers, which require dollars to pay for aircraft maintenance overseas.

“It is big business. Anybody that establishes a world-class MRO now will make money. Such MRO facility that can attend to large-body aircraft like Boeing 777 and it will really attract a lot of customers from the whole of West Africa, Central Africa and even Southern Africa. There is none so far in the whole of West Africa and Central Africa for the real big body aircraft, which are the wide bodies.

“The Arabs are talking to us. The Chinese are talking to us. The Europeans are talking to us. The Americans are talking to us because they want to invest. And you know why it has to be PPPs. It is difficult to establish an MRO at an independent venue, different from an existing airport. You can’t build it, because you need a runway to get to an MRO. So, it is pretty difficult. So, you have to talk with us for us to give you one within one of our international airports. We are in the process of doing a master plan. We are going to mark out clear areas for MROs within the international airports. We are telling you to come and make money. So, we are not begging for investment. Come and make money,” Keyamo said.

United Nigeria Airlines and Cronos Aviation have answered that call and hopefully the Minister will give every support necessary for the partnership to see to the actualisation of the project. Enugu State can also take advantage of it by providing land close to the Akanu Ibiam International Airport for the companies to build the facility.

The CEO of Cronos Aviation, Andeas Kaiafas, said the company had major MRO in South Africa and that the one it would build in Nigeria in partnership with United Nigeria Airlines, would have operational specification that would include wide-body aircraft like Boeing B777, Embraer E190, Boeing B737 NG and Classic and others.

“We have the capacity of people who have experience on different types of aircraft. Those are strategic decisions based on the existence of fleet in the region. If it needs to add other type of aircraft, you require the proper tooling and the proper personnel with experience. So, it will be very easy for us afterwards to amend the operational specifications and add a different type of aircraft. But that will go along with what we operate in the region. “It is not only to do maintenance to Nigerian operators, but to provide maintenance as well to other operators in the region. They will fly for short distance to bring the aircraft to the facility in Nigeria than to fly six hours to take it to nearest one currently. And with all the issues with visas, cost of hotel accommodation, those are costs that are huge for an operator. So, everybody is looking to optimise the cost and have more efficient lead times on the turnaround of the aircraft,” Kaiafas said.

Addressing Funding Challenge of Nigerian Airlines

The depleting number of operating aircraft in Nigeria’s domestic airline industry can be partly traced to the heavy capital outlay needed to acquire aircraft and the inability of local financiers to extend credit facility to the operators, a development that needs urgent attention, writes Chinedu Eze

Operating airline business is capital intensive because to acquire a brand new medium size aircraft could be very high, a development that has compelled airlines to access credit facilities from financial institutions. In many countries, airlines source long term loads with single digit interest rates that are adjustable and some of these loans come from overseas, mostly from import/export banks.

Arik Air was the first privately owned commercial airline that received comprehensive credit facilities to acquire aircraft from different international financial institutions and since then, such opportunities have become elusive because of the perception of Nigerian environment by financiers, lessors and insurance companies until recently.

COST OF AIRCRAFT

Buying a brand-new Boeing aircraft is a significant financial investment, with prices starting at $89 million and the cheapest narrowbody options are 737 family airliners, while widebody options start around the mid $200 millions.

According Simple Flying, The smaller Airbus, A220-100 has an estimated cost of $81 million, while the larger and more popular A220-300 is listed at $91.5 million. The smallest and rarest of the Airbus A320 family, the A318, is also the cheapest of Airbus’ offerings. The plane, known as the Baby Bus, has a list price of $77.5 million.

The A319 goes for about $92.3 million at list price. However, the new engine option, the A319neo, which thus far has orders for 91 jets, goes for $101.5 million.

Embraer aircraft could go from ERJ145, $21 million to E170, $41 million to E190, which is about $53.5 million. Price of Bombardier aircraft types popular in Nigeria, ranges from CRJ1000, $25 million, CRJ 900, $46.5 million and Q400, $32.2 million.

These are whooping sums of money compared to the current exchange rate of Naira to dollar and investigations show that Nigerian banks are reluctant to lend to Nigerian airlines, despite their outrageous interest rate.

ACCESSING CREDIT FOR AIRLINES

Earlier in the year, THISDAY had exclusive interview with the Chairman/CEO of Omni Blu Aviation (OBA) Limited, an aircraft charter services operator, Akin Olateru, who said that an airline needed cash, access to loan with single digit interest rate, good management in addition to good financial planning in order to survive.

X-raying the Nigerian situation, he said: “But with foreign exchange fluctuation, an airline cannot plan well and this in the long run leads to its demise. There are two things that are critical to the survival of an airline anywhere in the world. One is access to cash. An airline should be able to access loans with single digit interest rate. The second critical element is good management. You can’t run any business without strong management. So that is given.

“But we have one thing that is working against us in this part of the world, currency exchange fluctuation. Currency exchange fluctuation alone will kill your business. If the best aviation consultant does a very beautiful business plan, you come in with the right aircraft, employ the right management team, but that singular factor, currency exchange fluctuation, will kill you.”

Olateru noted that in the US, they operate aircraft, they buy the aircraft, they pay for insurance, they pay for supplies, they also pay salaries, all in dollars. They are not exposed to that currency fluctuation.

“In Europe it is the same thing. All bills are paid in Euro. They are not exposed to that currency fluctuation. You come to Nigeria, 85% of your cost is forex, apart from salaries, ground handling bills and fuel. But the bulk of your purchases in terms of volume are in USD. Now, you sell ticket today as schedule airline, due to the depreciation of the naira, the fare may be equivalent to $50. But tomorrow if you want to make budget on that exchange you find out that the dollar has gone up. You can’t buy at the same rate you sold the ticket,” he explained.

In a media interaction organised by Airbus in Abuja last year, aviation experts identified fluctuating value of the naira as one of the factors that discourage international financiers and other credit institutions from funding aircraft acquisition for Nigerian airlines.

The then Airbus Africa and Middle East Marketing Manager, Prajyoth Krishna Mirajkar had identified the prevailing challenges with Nigerian carriers then in terms of aircraft leasing and accessing credit facility.

He said that in Nigeria lessors found it

difficult to repossess their aircraft easily and this had become a disincentive to leasing aircraft to domestic airlines. This was why lessors, international insurers and others involved in aircraft acquisition business describe Nigeria as high risk

They refer to this as jurisdiction risk. Also, those that would be willing to lease aircraft to airlines in Nigeria did so at outrageous price and most often may not lease aircraft on long term, which is known as dry lease.

MINISTER’S INTERVENTION

It is the above problem that the Minister of Aviation and Aerospace Development was poised to solve by reviewing the Cape Town Convention and moving to meet the conditions that will enable Nigerian airlines lease aircraft at long term and also access credit facility.

The Minister had signed the Cape Town Convention Practice Direction by the federal government, which shot up the country’s rating from 49 per cent to 70.5 per cent by AWG last month and later signed the Irrevocable DeRegistration and Export Request Authorization (IDERA), which would enable government to support a lessor taking his aircraft out of the country when there is infringement in the conditions of leasing the aircraft to a Nigerian carrier.

The Minister may have solved the major problem pointed above by Mirajkar, which prompted Aviation Working Group (AWG) to remove Nigeria from the watchlist and increased its rating to 75.5 per cent.

EXPECTATIONS

Although Keyamo has facilitated a breakthrough with Cape Town Convention but it depends on individual airlines to push to take advantage of what government has made possible for them. This will include their operations standards, certifications, especially their IATA Operational Safety Audit (IOSA) and their goodwill in their past relationships with lessors and other suppliers.

The Managing Director/CEO of Aero Contractors, Captain Ado Sanusi, told THISDAY in Lagos on Wednesday that it was not yet a tea party because despite the effort made by the Minister of Aviation and Aerospace Development, Keyamo, by properly domesticating the Cape Town Convention, the lessors, international financiers and others would have to wait and see the implementation of what was agreed on. They would observe whether the Nigerian government is keeping to their own side of the deal; whether airlines are also abiding by the rules, if a lessor wishes to repose his aircraft.

Sanusi emphasised that trust and goodwill have to be built first, so, it will still take some time before airlines would begin to reap the reward of what the government has dome to grow the industry.

“I wish to put this on record and give honour to who it is due. The person that enabled Nigeria to embrace Cape Town Convention was the former Director General of the Nigeria Civil Aviation Authority (NCAA), Dr. Harold Demuren. I must admit that domesticating it was difficult, but the present Minister made it possible and brought in the judiciary, using his experience as a lawyer.

“But trust has to be built and trust is not built in a day. The aviation industry deals with trust. It is not easy to access aircraft and credit facility to acquire aircraft, but little by litte we shall build the needed trust. This will start with the performance of Nigerian airlines with small engine leases, aircraft leasing, repossession. If they see the implementation as smooth, trust will be built.

Keyamo

PROPERTY & ENVIRONMENT

Ibom Tower as Game-Changer in Victoria Island’s Skyline

The Akwa Ibom government is sparing no expense in the construction of Ibom Tower in Lagos, Bennett Oghifo writes

The Ibom Tower is designed to be rendered as a game-changer in Victoria Island, Lagos, where there are many exquisite buildings of similar grandeur.

The tower is being developed by Akwa Ibom government, through the Akwa Ibom Investment Corporation, as part of the ‘Arise Agenda’ investment in real estate property in Victoria Island, Lagos.

The 18-storey Ibom Tower will sit on 2,191,22sqm, a land purchased by the state in the 1990s. It is situated in a prime area of Lagos, which over the years remained underutilised and dilapidated, according to the Governor Umo Eno, at the groundbreaking ceremony last week.

The Ibom Tower is designed to have 32 residen-

tial units, luxurious four-bedroom duplex penthouse apartment, heightened security features and fences, standby power supply, entrance driveway, landscaped gardens, and a captivating water feature. The grand reception hall leads to state-of-the-art lifts and staircases, ensuring seamless access, including multi-level parking for up to 102 cars.

All of this will generate substantial employment opportunities, driving economic growth and improving livelihoods which will have a multiplier effect on the economy.

The tower will help increase the internally generated revenue of the Akwa Ibom government as it must

diversify, grow more streams of income, and expand its portfolios.

The governor stated that the accrued revenues of the Ibom Tower will be reinvested into major sectors like agriculture.

The governor highlighted that doing so will help alleviate food insecurity in Akwa Ibom and increase the spread of prosperity to the citizens.

“We will continue to build compassionate homes for the poorest and neediest. We will continue to provide food vouchers to the most vulnerable as a temporary measure to mitigate hunger while still encouraging our people to farm. We will continue to execute audacious projects such as the soon-to-be opened ARISE Park, which is primed to be a wonder in tourism, leisure and entertainment,” Eno said.

The present Administration has embarked on Redemption, Remediation and Repositioning (RRR) of the landed property for better economic use. The project will therefore be offering an unparalleled living experience, which represents a significant economic opportunity for investors in both Lagos and Akwa Ibom.

The Akwa Ibom governor commended President Bola Tinubu for his visionary leadership which transformed Lagos to an investment hub in Africa and thanked Governor, Babajide Sanwo-Olu of Lagos, who was at the event, for his cooperation, as well as agencies involved in the project.

He assured the Lagos governor of his full compliance with Lagos’ physical planning rules and regulations.

Ibom Towers

L-R: Director, Airtel Business Nigeria and moderator of the panel session, Ogo Ofomata; Group Chief Executive Officer, TAI Corporation, Adesuwa Imasekha; Convener and Founder, NECCI PR Roundtable, Nkechi Ali- Balogun; Country Manager, Hewlett Packard Enterprise, Dr. Ifee Kojo; and Chief Executive Officer, Microsoft Nigeria and Ghana, Olatomiwa Williams; during the 24th edition of the NECCI PR Roundtable with the theme “Women in Technology: Breaking Barriers,” held in Lagos...recently

L-R: Business Head, B2C, Grains and Animal Feed, Olam Agri in Nigeria, Siddarth Suri; Vice President, Commercial, Olam Agri in Nigeria, Abolaji Anifowose; and an official of Rokinwa Foods, Rotimi Akinneye during the Supreme Semolina Relaunch in Lagos…. recently

L-R: Senior Brand and Innovation Manager, Mouka Limited, Yemisi Obadina; Commissioner for Information and Strategy, Lagos State, Mr.Gbenga Omotoso; and Sales Administration Manager, Mouka Limited, Ugochi Nkwopara, during the presentation of Legacy Brand Award to Mouka Foam during the Edge Award ceremony held in Lagos...recently

Cross section of Nigeria community members during the Fintribe Finance Fair held in Lagos... recently

L-R: Cross section of newly ordained Priests, Rev. Clinton T. Ekemezie; Rev. Ethelbert C. Umenwannne; Rev. Emmanuel C. Canice; Rev. Princewill O. Ugwumba; Rev. Gregory U. Onaji; Archbishop of Lagos, His Grace, Most Rev. Dr. Alfred Adewale Martins; Rev. Thomas A. Kelechi; Rev. Stephen C. M. Momah; Rev. Patrick S. Akotonayon; Rev. Michael I. Ebede; and Rev. Timothy E.O. Okhiria, during the Priestly Ordination at the Holy Spirit Catholic Church, Onireke, Lagos... recently PHOTO: KOLAWOLE ALLI

L-R: Chairman, Certified Institute of Auctioners Nigeria (CIAN), Lagos chapter, Mr. Hillary Nwaukor;; Representative of the Chairman of EFCC/ acting Director of Lagos Directorate of the EFCC, Mr Micheal Wetkas; and Registrar, CIAN Nigeria , Mr. Adeleke Hassan, during the 10th anniversary of CIAN Lagos Chapter in Lagos...recently

Chika Vivienne Nnamani: Providing Strategic Legal Oversight on Counter-Terrorism Issues at NCTC

An accomplished legal professional with over 18 years of experience, Chika Vivienne Nnamani has been providing legal counsel and representation to the Federal Government of Nigeria and its agencies. Her career spans pivotal roles across key government ministries and agencies, where she has developed a specialisation in criminal and international law, policy compliance, legislative drafting and handling high-profile cases. Currently, she serves as Head of Legal at the National Counter Terrorism Centre (NCTC), in the Office of the National Security Adviser, where she provides strategic legal oversight on issues related to counter-terrorism and national security and ensures compliance with national and international standards. Chiemelie Ezeobi writes that her career reflects a trajectory marked by critical responsibilities in the legal sector, while harnessing experiences garnered in both public service and private practice

What’s your career trajectory been like and how has that shaped the work you do at the NCTC?

Ihave accrued years of experience in the legal sector as a state counsel, working across different government departments and concentrating on prosecuting mainly terrorism cases. Additionally, I have expanded my legal expertise through further studies in various other areas of law. This background has equipped me with the necessary knowledge and skills to effectively address the intricate legal challenges encountered at the CTC.

As the head of legal, what are those thorny knots that your expertise are often needed in untying?

As the Head of Legal, I often find myself tackling issues such as legal frameworks for counterterrorism operations, ensuring compliance with national and international laws, addressing human rights concerns, and coordinating efforts across multiple agencies.

Could you describe your primary responsibilities as the Head of Legal at the National Counter Terrorism Centre?

My primary responsibilities include providing legal guidance, advice, opinions and support to the CTC, conducting legal assessments of counterterrorism strategies and actions, advising on compliance with relevant laws and regulations, and advocating for the protection of legal rights in the fight against terrorism.

So how does your unit contribute to the broader goals of national security and counterterrorism?

The legal unit at the CTC plays a crucial role in ensuring that counterterrorism efforts are conducted within the boundaries of law, promoting respect for human rights, and safeguarding Nigeria’s security framework and integrity. By providing legal expertise and oversight, we contribute to the broader goals of national security and counterterrorism.

How do you ensure that the NCTC operates within the boundaries of national and international law while tackling terrorism and still protect Nigeria’s security framework and integrity?

We ensure that the NCTC operates within legal boundaries by conducting thorough legal assessments of proposed actions, seeking legal advice from experts, collaborating with relevant legal authorities, and adhering to national and international laws and agreements. Balancing security imperatives with legal principles is a key priority for us.

How do you make sure that the NCTC handle issues related to human rights while pursuing counterterrorism measures?

The NCTC prioritises human rights considerations in all counterterrorism measures by conducting regular human rights impact assessments, engaging with human rights organisations, providing training on human rights compliance, and ensuring transparency and accountability in our operations.

For instance in the fifth phase of the Kainji prosecution of boko haram and IPOB cases which took place in Kainji we had civil rights organisations, representatives of the UN and human rights in attendance to observe the trial process. Also all accused persons were arraigned unfettered.

Can you speak to the legal challenges that arise when coordinating counterterrorism efforts across board?

Legal challenges when coordinating counterterrorism efforts across board often include jurisdictional issues, information sharing protocols, cross-border operations, extradition procedures, and international legal cooperation. Addressing these challenges requires close collaboration with legal experts, authorities, and partner agencies.

What are some of the most significant legal challenges your team faces in the fight against terrorism?

Some of the significant legal challenges our team faces in the fight against terrorism include ensuring compliance with the provisions of the law in respect of investigation and prosecution, navigating privacy laws while collecting intelligence, ensuring due process for suspects, addressing legal

barriers to information sharing, combating online radicalisation within legal frameworks, and managing legal implications of military interventions in counterterrorism efforts.

Also, How does the centre address issues of legal jurisdiction in counterterrorism operations that involve multiple agencies?

The NCTC addresses issues of legal jurisdiction in counterterrorism operations involving multiple agencies by establishing clear legal frameworks, protocols for interagency cooperation, defining roles and responsibilities, seeking legal advice on jurisdictional matters, and fostering strong relationships with partner agencies to ensure seamless coordination.

What are the successes stories and what areas need to be strengthened in building a more resilient and effective counter terrorism measures?

Sucess stories in our counterterrorism efforts include disrupting terrorist plots, dismantling extremist networks, preventing radicalization, prosecuting terrorists under the law such as the mass trial.

So far, we have secured convictions of over 500 cases including terrorism financing cases, enhancing international cooperation such as being a co-chair with Italy on CJROL, and protecting national security.

Areas that need strengthening include enhancing legal frameworks for dealing with emerging threats, improving information sharing mechanisms, addressing root causes of terrorism, and promoting rule of law principles in counterterrorism operations.

Career Trajectory

Chika Vivienne Nnamani has advanced in her legal career by taking on progressively responsible roles in both public service and private practice, demonstrating a well-rounded expertise across sectors like when she previously

served as Assistant Director at the Federal Ministry of Justice Headquarters in Abuja, where she was responsible for offering legal opinions on all matters within the Ministry’s mandate and prosecuting criminal cases on behalf of the Federal Republic of Nigeria.

During this time, she was also an active member of the Ministry’s Complex Casework Group (CCG), which handles intricate legal cases.

Prior to this, Chika was Chief State Counsel in the Ministry’s Department of Public Relations, a role in which she advised on legal issues, managed extradition and mutual legal assistance requests for the Nigerian Central Authority, and wrote legal opinions on international criminal law matters.

Her expertise in international treaties enabled her to secure the successful extradition of individuals to and from Nigeria, further advancing Nigeria’s international legal standing.

Chika also served as Assistant Chief Counsel in the Civil Litigation and Public Law Department at the Ministry of Justice, where she provided legal opinions on complex matters, represented Nigeria’s ministries, departments, and agencies in courts, and defended the Ministry’s interests in arbitration and alternative dispute resolution proceedings.

She developed strategies for advocacy in various cases and advised on contentious issues arising from commercial agreements between the Nigerian government and other parties.

Earlier, she held the role of Senior Manager for Legal and National Assembly Matters at the Nigerian Communication Satellite (NIGCOMSAT) in Abuja.

In this role, she formulated and monitored policies related to NIGCOMSAT’s functions, managed legal documentation and international agreements on space technology cooperation, liaised with regulatory bodies, and acted as a legal representative in the International Telecommunications Union (ITU) Radio-

Communications Sector’s due diligence processes. In the private sector, Chika served as Partner and Consultant at Billoxy Partners, Legal Practitioners in Lagos, where she provided legal advice on commercial and real estate contracts, mergers and acquisitions, corporate reorganisations, joint ventures, and consultancy services for clients including the World Bank.

Additionally, she worked as Compliance and Legal Officer at LawMark Partners in Lagos, where she reviewed proposed bills, ensured regulatory compliance, maintained records of corporate clients, and supported key compliance audits. Her academic credentials include a PhD in Arbitration (in progress) from Nasarawa State University, Keffi, a Master of Laws (LLM) from Robert Gordon University, Aberdeen, UK, and a Barrister at Law (BL) qualification from Enugu State University.

She completed her Senior Secondary Certificate at the University of Nigeria Secondary School, Enugu, and her First School Leaving Certificate at the University of Nigeria Primary School, Enugu. Chika is a member of the Nigerian Bar Association (NBA), including the NBA Section on Business Law, the International Bar Association, and the International Dispute Resolution group. She was called to the Supreme Court of Nigeria in 2003. Her professional development includes participation in seminars and training workshops on counter-terrorism, human rights, forensic science in the criminal justice system, child protection, and other specialised areas through partnerships with international bodies such as the British High Commission, UNICEF, and the EU-Nigeria-UNODC.

Constantly proving her mettle, Chika comfortably holds her own, given her strong blend of legal expertise across both the public service and private practice. This has undoubtedly enhanced her understanding of diverse legal landscapes, making her career trajectory particularly valuable in fields requiring both public and private sector insights.

Chika Vivienne Nnamani

Nigeria, Rwanda Sign MOU to Strengthen Economic Partnership

Michael Olugbode

Rwanda and Nigeria have strengthened their economic partnership with the signing of a Memorandum of Understanding (MoU) at the Lagos International Trade Fair between the Lagos Chamber of Commerce and Industry (LCCI) and the Private Sector Federation (PSF), Rwanda.

The signing ceremony took place on the sidelines of the 2024 Lagos International Trade Fair, further underscoring the commitment to enhancing trade and investment ties between the two nations.

The MoU was signed between the LCCI and the PSF, represented by their respective leaders: Mr. Gabriel Idahosa, President of the LCCI, and Mr. Kanamugire Callixte, Deputy CEO of the PSF Rwanda.

Speaking, High Commissioner

of Rwanda to Nigeria, Ambassador Christophe Bazivamo, said: “This MOU is a testament to our shared vision—a vision of a vibrant and interconnected African business landscape where Rwanda and Nigeria stand as beacons of economic collaboration and mutual growth”. “The Rwandan government is fully committed to supporting this endeavor. We have implemented policies to streamline business procedures, enhance infrastructure, and promote a conducive investment climate.”

The LCCI representative outlined the objectives of the partnership, including enhancing business relationships, exploring investment opportunities, and sharing best practices between Nigerian and Rwandan businesses. Specific sectors identified for collaboration include agriculture (with a particular interest in Rwandan coffee and tea production), energy, manufacturing, technology, and creative industries.

Under the MoU, the LCCI and PSF Rwanda will work together to: Facilitate Trade by streamlining trade procedures, reduce barriers, and promote the exchange of goods and services between Nigeria and Rwanda; Promote Investment by identifying and promoting investment opportunities in both countries, organize trade missions, and facilitate business partnerships; Share Information by exchanging information on market trends, trade regulations, and investment incentives to support business decision-making; Build Capacity by organising joint workshops, training programmes, and knowledge-sharing initiatives to enhance the competitiveness of businesses in both countries; and Host Events by collaborating on organising trade fairs, exhibitions, and business forums to foster networking and facilitate partnerships.

Wema Bank Named Nigeria’s Best Workplace in 2024

Bank has emerged as the No. 1 Best Workplace in Nigeria at the Great Place To Work (GPTW) 2024 Awards, given its commitment to employee well-being and innovative work culture.

The Great Place To Work Awards, held in Lagos honoured the bank for its exceptional employee support, work-life balance, and mental health initiatives.

The award noted that the bank prioritises its employees’ overall well-being, providing a range of benefits and programmes.

Wema Bank’s MD/CEO, Moruf Oseni, dedicated the award to the bank’s employees, praising their loyalty and commitment.

He said, “This award reflects

our employees’ true perception of the bank... We will continue to provide an unparalleled work experience for them and a seamless banking experience for our customers. With highly competitive salaries, Cost-Of-Living Adjustment (COLA), which the bank pays to non full-time equivalent employees, a comprehensive welfare package with adequate HMO and pension benefits, strategic facilities like the Purple Crèche for employees with infants, a fully-equipped gym for fitness enthusiasts and a host of other benefits, Wema Bank has continued to raise the standards for employee support, positive work culture and exceptional work-life balance among institutions and organisations.

“This award speaks volumes to us because it not only reflects our employees’ true perception of the Bank, it also shows us how far we have come as a Bank and challenges us to go even further in exceeding all expectations, breaking new ground and resetting the standards of excellence for the best, as we continue to provide optimum value for every stakeholder; externally and especially internally. As a bank, we have become the standard for innovation and our mission to empower lives through innovation is a lifelong commitment that we will never relent on.”

Arla Foods Nigeria Shines at 2024 BrandCom Awards

Arla Foods Nigeria stole the spotlight at the 2024 BrandCom Awards, taking home not one but four impressive wins! Hosted at the iconic Landmark Event Centre in Victoria Island, Lagos, the BrandCom Awards celebrate the brands, agencies, and individuals shaping the future of marketing in Africa, and this year, Arla was the name on everyone’s lips.

The brand bagged the following coveted awards: Dairy Company of the Year, Dairy Brand of the Year for Dano Milk, Butter Brand of the Year for Lurpak, and CMO of the Year, Dairy (Chief Marketing Officer) awarded to Ifunanya Obiakor, Head of Marketing for

Arla West Africa. These wins are a testament to Arla’s commitment to providing tasty, nutritious and highquality dairy products to Nigerian families. From the creamy, great-tasting flavour of Dano Milk to the rich, luxurious indulgence of Lurpak Butter, Arla continues to win hearts and taste buds across Nigeria. Speaking on the recognition, Head of Marketing at Arla West Africa, Ifunanya Obiakor stated, “These awards are a true honour and reflect Arla’s commitment to nourishing lives and bridging the gap in dairy accessibility across Nigeria. Winning in four major categories fuels our

Clean N Classy births in Ibadan

Kemi Olaitan

Clean N Classy, has announced that it has opened another branch in Ibadan, marking its second location and the first outside Lagos State.

The newly opened office is located at Arit House, 14 Sanusi Akere Street, Oluyole Estate area of the Oyo State capital.

The Founder and Chief Executive Officer (CEO) of the company, Mr. Olumide Obembe, while speaking at the ceremony, said the expansion

reflects the commitment of the firm to deliver exceptional solutions tailored to the needs of local residents and businesses.

According to him, the opening of a branch in Ibadan was a significant step for the organization, stating that it prides itself on employing trained professionals who use the latest cleaning and pest control techniques and equipment.

He said, “We are thrilled to bring our premium services to this vibrant city, helping residents and businesses maintain clean, healthy and pest free environments.

team’s dedication to driving quality, innovation, and positive impact for our consumers. This recognition inspires us to keep setting higher standards in the dairy industry, making nutritious products accessible to every Nigerian household.”

These awards are the latest achievement in Arla’s electrifying year, which has been filled with memorable campaigns that have strengthened its connection with consumers. Earlier this year, Arla rolled out the vibrant #NothingLikeMilk World Milk Day campaign, which celebrated the unmatched health benefits of Dano Milk and showed Nigerians why quality matters.

“Ibadan branch will offer a comprehensive range of cleaning services, (including residential, commercial, and specialized cleaning options), pest control, facility management and consulting services.

“With a focus on quality, eco-friendly products, and customer satisfaction, Clean N Classy aims to set a new standard in the cleaning industry in the ancient town (Ibadan). Our team is committed to ensuring every client receives a personalized service experience that meets their unique needs.”

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),

L-R: Grant winner & Founder/CEO, IJM Global Limited, Ijeoma Mary Chukwu; Grant winner & Co-founder/ CEO Hubpharm Africa, Kareem Temitope; Country Head, Corporate Affairs, Brand and Marketing, Standard Chartered Bank Nigeria Limited, Joke Adu; Grant winner & Co-founder Lilac Africa, Onyekachi Kalu; Director, Enterprise Development Centre, Dr. Nneka Okekearu; Grant winner & Co-founder Fastryder, Omowunmi

Omoseyindemi and Grant winner & Founder/CEO, Iyewo, Folake Kofo-Idowu at the Standard Chartered Women in Tech Incubator Programme Cohort 5 Graduation Ceremony in Lagos...recently

Wema

Agama: Leveraging Capital Market to Achieve $1tn Economy Underscores Role in National Development

Kayode Tokede

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, yesterday expressed that focus on leveraging the capital market to achieve this ambitious goal of a $1 trillion economy underscores the pivotal role the financial markets play in national development.

Agama stated this at the

28th annual conference of the Chartered Institute of Stockbrokers (CIS), themed: “Capital Market as a Catalyst for the $1trn Economy” held, Oyo State, He charged Stockbrokers’s and other capital market stakeholders to harness the full potential of the capital market to achieve a prosperous and sustainable future.

He said the critical review of sectors, investment strate-

gies, market regulations, and technological innovations that the conference promises will undoubtedly provide a roadmap for the capital market’s contribution to Nigeria’s economic transformation.

According to the SEC DG, the capital market is not only a platform for raising funds but also a vital engine for wealth creation, economic diversification, and infrastructure development

adding that by effectively channeling resources into productive sectors, it can stimulate industrial growth and technological advancement.

“This conference provides an opportunity to identify and address key barriers that have hindered optimal capital market performance, such as regulatory challenges, market liquidity, and investor confidence.

“Additionally, the role of

technological innovations in the market cannot be overstated. Embracing fintech solutions, blockchain, and digital assets will further enhance market efficiency and transparency.

“The success of the $1 trillion economy vision largely depends on the collective efforts of all stakeholders in the financial ecosystem. By fostering collaboration between regulators, market operators, and policymak-

ers, we can create a more resilient and inclusive market” he stated.

The SEC DG commend the Chartered Institute of Stockbrokers for their relentless efforts in promoting knowledge sharing and professional development through the conference saying their contributions are crucial in equipping market players with the necessary skills and insights to drive the economy forward.

PRICES FOR SECURITIES TRADED ASOF NOVEMBER 7/24

ABIA BIDS FAREWELL TO ITS FIRST CIVILIAN GOV, DR. OGBONNAYA ONU...

Oluremi Tinubu Says Her Pet Project Funded by Private Donors, Corporate Partners

Agric ministry earmarks N2.5bn for RHI's programmes nationwide

Deji Elumoye in Abuja

Wife of the President, Senator Oluremi Tinubu yesterday disclosed that funding for her pet-project, Renewed Hope Initiative (RHI), all come from private donors and corporate partners.

Mrs Tinubu made this known at the State House, Abuja, while speaking to newsmen after meeting with wives of state governors and other state representatives who are state and regional coordinators of the RHI.

According to her, the clarification became necessary due to enquiries in some quarters.

Defending the RHI's source of funding, the First Lady said: "I know people are always saying, where do I get the billions from, I'm going to address that. We are a Non-Governmental Organisations (NGO). People give us money".

According to her, among her donors, besides those who would prefer to be anonymous, is the BUA Group.

"Like the food bank we are doing, we have two companies, BUA is one of them, the other one wants to stay anonymous.

"They give us a truckload of food, and Mrs (Kashim) Shettima is handling that. We go from state to state. We also have covered about seven states, and BUA is joining in so as to cover the 36 states, if it is one truck per state. So, within under two years, we should be able to finish. So I'm really excited that BUA too keyed into that", she said.

She also disclosed that the RHI will unveil the winner of the 'Every Home a Garden' competition by December, adding that the competition already produced three finalists.

The winner of the competition, which aims to encourage Nigerians, especially women, to adopt the practice of cottage farming, she said, will go home with the grand prize of N20 million.

Speaking further on the competition, she said: "We have the unveiling of the every home a garden competition. So very soon, December, we are ready to announce the winner, we've shortlisted to three".

Meanwhile, the Federal Ministry of Agriculture and Food Security said it has

earmarked about N2.516 billion to mainstream four of the agriculture-related programme of the First Lady's RHI.

In a move to strengthen food security and agricultural development in the country, the said it has allocated approximately N68 million to each state to support four key agriculturefocused initiatives under the First Lady’s RHI.

Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, who disclosed this after a meeting said the funding will be divided across the four specific projects within the RHI's agricultural support pillar.

He listed them as: Training and empowerment of women in agriculture, support for young farmers, the “Every Home a Garden” programme, and the revitalisation of the Young Farmers Club.

Each project aims to foster sustainable agricultural practices and enhance food security across the nation.

According to the Minister: "We are partnering with the office of the First Lady under her pet project, the RHI, to deliver

meaningful agricultural support across all states through their first ladies.

“This collaboration allows us to leverage her platform to reach communities and boost agricultural participation at a grassroots level".

Abdullahi outlined the projects, starting with the training and empowerment of women in agriculture, which will focus on enhancing women’s skills in farming and food processing to improve food security and nutritional standards.

The programme, he said, will also assist young farmers, both male and female, to establish themselves in the agricultural sector.

One innovative component is the Every Home a Garden initiative, which encourages families to cultivate small gardens, which the Minister believes will help households contribute to the national food basket, reduce pressure on market supplies, and increase food access within homes.

The Young Farmers Club, a familiar Programme from earlier decades, is also being reinvigorated under the initiative.

Sani Lauds Tinubu Over N200bn Loan Scheme for MSMEs

Governor Uba Sani of Kaduna State has lauded President Bola Tinubu for the N200b Presidential Grants and Loans Scheme for Micro, Small and Medium Enterprises (MSMEs).

Speaking at a town hall meeting in Kaduna, organised to sensitise targeted beneficiaries, Sani said Tinubu is determined to eradicate poverty in Nigeria.

The governor, represented by his Special Adviser on Economic Matters, Ibrahim Mohammed, said the initiative was evidence that the president is a listening leader who wants small businesses to succeed.

He said: “This event is aimed at sensitizing and mobilizing target beneficiaries of the N200b Presidential Intervention fund to elicit their maximum participation.

"The intervention fund comprises the Presidential

Conditional Grant Scheme and a loan scheme for MSMEs and Manufacturing enterprises in Nigeria.”

Sani said Tinubu is a listening leader and has heard the cries of Nigerians. His words: "He has heard the cries of Nigerians running small businesses and manufacturing enterprises and has taken urgent steps to address their challenges."

The governor said the initiative will not only reinvigorate small businesses and manufacturing enterprises but will impact positively on the Nigerian economy.

According to him, "MSMEs are the backbone of our economy, significantly contributing to job creation, innovation, and economic resilience.

"They drive local economies and provide livelihoods for millions of Nigerians. This is why, on the assumption of office in May 2023, my administration committed itself to creating

an enabling environment for businesses to flourish and contribute to the economy of Kaduna state in particular.”

Speaking further, he said, the Kaduna State Enterprise Development Agency (KADEDA) provides business development services to MSMES through the facilitation of access to finance and markets.

He explained that the agency focuses on capacity building, business grants, mentorship, and networking.

"Its main goal is to empower individuals to establish sustainable businesses and improve their quality of life, particularly women and youth," he said.

The governor added that the establishment of skills acquisition centres in each of the three Senatorial Zones of the state is aimed at empowering youths with relevant skills for the 21st century to contribute to the GDP of the state and also

equip the MSMEs with earning possibilities.

He called on the collaboration of everyone to ensure the success of the initiatives.

"The private sector actors, religious organizations, organized labour, civil society and more need to partner to achieve the project’s intended objectives.”

“This Presidential Intervention fund couldn’t have come at a better time. We believe it will go a long way in supporting the efforts that the state government is making to promote an enabling business environment for MSMEs to thrive.

“I therefore encourage all stakeholders to share this knowledge within your networks," the governor said.

Also speaking, an official of the Bank of Industry (BoI), Mrs. Joy Oghiadomhe, said the initiative is part of efforts by President Tinubu’s administration to address economic challenges through MSMEs

“This club will be supported to encourage younger generations to see agriculture as a viable career path, not just as a livelihood but as a sustainable contribution to national food security,” Abdullahi explained.

The minister said the funds will be disbursed to state coordinators, with a clear schedule outlining the budget for each project.

State-level agriculture officers from the Federal Ministry will collaborate closely with the first ladies’ offices to oversee project implementation and ensure efficient use of resources.

Addressing the timeframe for deployment, Abdullahi indicated that the Ministry was nearing readiness, saying it was 95 per cent prepared.

“After this briefing, coordinators will work with designated desk officers in each state. Once account details from the first ladies’ offices are received, we’ll begin disbursing funds,” he added.

Abdullahi emphasised that the initiative was not a one-off but part of a broader commitment to mainstream sustainable agricultural practices nationwide.

20,000 Artisans, Traders Get FG's N1bn Grant in Ogun

James Sowole in Abeokuta

No fewer than 20,000 artisans, small business owners in Ogun State have benefited from the N1billion federal government's Presidential Conditional Grant Scheme (PCGS) of N50, 000 for Micro, Small, and Medium Enterprise (MSMEs) which began in March this year.

The state manager of the scheme, Mr. Michael Agidani, disclosed this while addressing stakeholders at the Town Hall meeting and sensitization programme on Presidential Conditional Grant and Loan Scheme for MSMEs held in Abeokuta, the Ogun State capital.

This figure was disclosed, just as stakeholders and representatives of different business groups at the town hall meeting appealed to the government to expand the loan initiative towards making it more accessible and accommodate more beneficiaries in the state.

The stakeholders, which include People Living with Disabilities, among other various business sectors, lamented the significant financing gaps as a major hindrance to economic progress in the country, hence the need for the federal government's assistance. But responding to the plethora of challenges raised by stakeholders, Agidani, who is also the state manager, Bank of Industry (BoI) in Ogun State, explained that the new federal government N200 billion Presidential Intervention Fund was categorized into three levels.

In one of the levels, a sum of N50 billion has been set aside for MSMEs, stressing that each beneficiary under the loan scheme, is entitled to the sum of N10 million loan to boost their businesses.

Disclosing that the loan is repayable under a three-year period with an incubation grace period of three months, Agidani urged business owners across the 20 local government areas of the state to take advantage of the financing initiative to expand their businesses.

In his goodwill message, the Ogun State Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, emphasized that the loan scheme aligned with the vision of economic transformation, inclusive growth and job creation of the Prince Dapo Abiodun-led administration in the state Sofela however pledged the state government's continued support at fostering conducive environment for business success and economic growth and empowerment.

Also, the state manager, Small and Medium Enterprises Development Agency of Nigeria, Abiodun Awoniyi, commended the federal government’s initiative to boost economic growth, reduce poverty and improve the living standards of Nigerians. He urged business owners to take advantage of the loan scheme , designed to strengthen operational capacity and contribute to the local and national economy.

John Shiklam in Kaduna

L-R: Abia State Commissioner of Police, Danladi Isa; Governor Alex Otti of Abia; Bishop Sunday Onuoha of Methodist Church; Secretary General of Ohanaeze Ndigbo Worldwide, Ambassador Okey Emuchay; Catholic Bishop of Umuahia Diocese, Most Rev Michael Kalu Ukpong; and other clerics at the Interdenominational service held for Abia's first civilian governor, late Dr Ogbonnaya Onu, in Umuahia ... yesterday

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PINNACLE OIL AND GAS MEDIA BRIEFING...

Manufacturers Set Up Power Development Company

Say Nigeria’s energy landscape fraught with challenges

Dike Onwuamaeze

President of Manufacturers Association of Nigeria (MAN), Mr. Francis Meshioye, yesterday, disclosed that MAN had set up Manufacturers Power Development Company Limited (MPDCL) to address hindrances to growth and investment in the real sector.

Meshioye made the revelation during a press conference to announce the oncoming three-day “Manufacturers Energy Security Summit,” to be held in Lagos, from November 19.

He stated that the energy landscape in Nigeria was fraught with challenges retarding industrial growth and hampering manufacturers’ ability to attract investment. He said MPDCL was established to address this challenge.

Meshioye said MPDCL was an entity on its own under the umbrella of MAN.

He stated, “So the intention is to alleviate the problems that members are facing with respect to energy.

“It is better to look at this gap and see what we can do on our own to ease the pain that we experience

Osinbajo, Tijani, Others to Lead Discussions at TNCG Lagos Forum

Emma Okonji

Civil society organisations, BudgIT and Enough is Enough (EiE) Nigeria, have concluded plans to host the sixth edition of the Technology, New Media, Citizens and Governance (TNCG) forum, where former Vice President of Nigeria, Professor Yemi Osinbajo, and the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, will lead others to discuss how new media is influencing citizens and governance.

Scheduled to hold on November 28, 2024, in Lagos, the forum will focus on the theme: ‘Technology: The Present and Future of Political Action in Africa’ and examine the growing influence of emerging technologies, including Artificial Intelligence (AI), on governance across the continent.

Speaking at a press conference yesterday to announce the forum, the Country Director of BudgIT, Gabriel Okeowo, emphasised the conference’s focus on leveraging technology for accountable governance.

According to him, “At BudgIT, we've observed that some government agencies are increasingly open to using technology to enhance public service delivery. While there’s still progress to be made, with support from civil society, these efforts can become more impactful and effective.”

Okeowo explained that the conference had already secured

high-profile participation from thought leaders, civic actors, academics, private sector players, and government officials across Africa, which include former Vice President Yemi Osinbajo, who will deliver the keynote address, and the Minister of Communications, Innovation, and Digital Economy, will participate in the discussions and give the closing remarks, while Deputy Minister of Communications and Digital Technologies of South Africa, Mr. Mondli Gungubele, will reflect on the conference's pan-African scope.

Also speaking at the press conference, Executive Director of Enough is Enough Nigeria, Opeyemi Adamolekun, noted that the conference would address critical issues at the intersection of technology and governance.

“Technology has given ordinary Nigerians unprecedented power to hold their leaders accountable and shape public discourse. The TNCG forum will explore how we can continue to harness these tools to deepen political engagement and drive systemic reforms that strengthen democracy,” she said.

Given the evolution of emerging technology, and how technology is driving development across the globe, Adamolekun said experts in emerging technologies have been carefully selected to lead the discussion and present papers that would set the tone of discussion, as it relates to technology, new media, citizens and governance.

because of current challenges in electricity supplies,

“You realise that the cost of energy to us is very huge.”

Meshioye added, “Unfortunately, the energy landscape in Nigeria is fraught with challenges, such as inadequate power supply, unreliable energy infrastructure, and high electricity tariffs.

“These challenges do not only hamper the growth of industries but also undermine our ability to attract investments and create jobs.

“It is important that we address these challenges frontally and work towards achieving energy adequacy for industrial growth.

“This will require a multi-faceted approach that includes improving

energy infrastructure, promoting energy efficiency, diversifying our energy sources, and fostering partnerships between the public and private sectors.”

He explained that the forthcoming energy security summit was of immense relevance to Nigeria's economic development, saying the manufacturing sector is critical to job creation, economic diversification, and GDP gowth.

“By addressing energy security, we can unlock the full potential of our industries, reduce the cost of energy in manufacturing and create more opportunities for Nigerians, along with contributing to the country's socioeconomic prosperity,” Meshioye said.

Acting Managing Director of

MPDCL, Mr. Oweh Mba-Sam, said manufacturers in Nigeria were reeling under the crushing weight of high cost credit and electricity, adding that manufacturing firms under Band “A” electricity consumers’ category are in serious trouble.

According to Mba-Sam, 10 manufacturing companies have already subscribed to the MPDCL at 1.0 megawatt per company. He said, “We cannot allow our members to suffer this kind of cost. So, we said, why don't we look beyond what is in the national grid and look at sustainable energy.”

Mba-Sam disclosed that MAN was currently advising its members to go for equipment that were energy efficient and eco-friendly.

He stated, “So, what MPDCL is looking at is how it can help our members so they do not incur more costs in having these energy costs.

“To that extent, we now devised a scheme we call it Power Access Service that enables manufacturers to install this energy equipment after signing a Power Access Agreement (PAA) on terms of agreeable tariff that is cheaper than power coming from the grid.

“So right now, we have 10 companies on our list with minimum of 1 MW per company. That is a lot. That is about 10 MW of the line.

“So our idea is to continue this process until we see the gap start closing, closing, closing until it evaporates.”

FRC: Improved Accountability Necessary for Nigeria to Attract More FDI

Seeks common code of prudence, transparency, accountability in states

Ndubuisi Francis in Abuja

The Executive Chairman, Fiscal Responsibility Commission (FRC), Mr. Victor Muruako, has stated that Nigeria must prioritise transparency and accountability in public finance management (PFM) at all levels if it is to make a quantum leap in attracting foreign direct investment (FDI).

He also underscored the need for some common code of prudence, transparency and accountability across all tiers of government at the subnational level.

He also underscored the need for some form of fiscal cohesion and inter-governmental consistency in fiscal management.

FRC's Executive Chairman, Mr. Victor Muruakor stated these in Abuja, Thursday at a two-day awareness and sensitisation programme on transparency and accountability for sub-nationals and north central states of Nigeria.

According to him, the country’s ability to secure sustainable economic growth depends on creating an environment where investors can trust that their investments will be handled ethically and responsibly. Muruako said, “We dwell so

much on attracting FDI, foreign direct investment, but I want to say without any fear of contradiction that the easiest way to attract foreign direct investment, apart from ease of doing business, is when foreigners are very confident that they are operating in a very transparent environment and that they will also get justice, even if they have to resort to court processes.

“So do we have any option?

The first step to attracting foreign direct investment is to proceed to operating a very transparent and accountable system. By increasing transparency and accountability, we can deter corruption. We can reduce and minimise the misuse of public funds.”

Muruako, who explained the importance of accountability at all levels of government, including state and local governments, which manage a significant portion of the country’s financial resources, observed that many state governments had failed to hold local governments accountable, thereby contributing to inefficiency and poor governance at the grassroots level.

The FRC chief Executive stated that in recent years, Nigeria had

made significant strides in its democratic journey, adding however, that challenges such as corruption, inefficiency, and lack of accountability continue to hinder its progress in the area of democratising fiscal processes.

"To address these challenges, it is imperative that we prioritise transparency and accountability in public finance management," he said.

On the role of subnational governments, he said it goes without saying that they are very important in Nigeria’s fiscal responsibility architecture, being closer to the people and have a better understanding of local needs and priorities.

"It is important to note that they receive roughly half of the Federation’s shareable revenue while they respectively, at the same time, enjoy the full discretion to appropriate and spend 100% of this statutory allocation as well as their own internally generated revenue as they please.

"More importantly, states in the Nigerian Federation and local governments enjoy the constitutional freedom to make their own fiscal decisions, even when such decisions may unduly burden the general economy’s

macroeconomic indicators such as economic growth, per capita income, interest rates, exchange rates, balance of payments, inflation rate, productivity, unemployment rate, etc.

"In a sense, being a subnational in Nigeria’s fiscal federalism is akin to enjoying the perks of being a Prince without caring about the responsibilities of the larger kingdom. It is doubtful if such a system is sustainable.

"At the very least, there is a strong need for some form of fiscal cohesion and intergovernmental consistency in fiscal management.

"For purposes of balancing the argument, it needs to be stated that subnational governments also face significant challenges in fiscal management such as limited resources, capacity constraints, political pressures, etc.

"This underlies the need for some common code of prudence, transparency and accountability across tiers of governments. The most reliable code, I dare say, is the prioritization of transparency and accountability; and that is where the Fiscal Responsibility Commission comes in," he said

L-R: Managing Director/CEO, Pinnacle Oil and Gas, Mr. Robert Dickerman; the Chief Operating Officer, Nike Labinjo; and Ag. Head of Internal Audit, Mr. Duncan Ologeh at a Media Parley with Business Editors and Energy Reporters by Pinnacle Oil and Gas held in Lagos …yesterday

SUNDAY ADIGUN

OPEC AFRICA ROUND TABLE MEETING...

PSC, AANI, Police Mourn Chief of Army Staff, Lagbaja

Onyejeocha: His visionary leadership inspired countless soldiers

Linus Aleke and Sunday Aborisade in Abuja

The Police Service Commission (PSC), the Alumni Association of the National Institute (AANI), and the Nigeria Police Force (NPF), yesterday expressed shock over the death of the Chief of Army Staff, Lt Gen Taoreed Lagbaja who passed on in Lagos after a brief illness.

The Chairman of the Police Service Commission, DIG Hashimu Argungu rtd, said the late Army Chief was a brave

soldier who played a great role in the fight against insurgency and supported Mr. President's efforts to free the nation from banditry and terrorism.

Meanwhile, the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, has described the deceased general as a highly dedicated officer whose leadership and vision inspired countless soldiers and that his legacy will continue to motivate future generation of soldiers in Nigeria.

A statement by PSC’s Head, Press

and Public Relations, Ikechukwu Ani, averred that the chairman condoled Mr. President and the Nigerian Army on the sad loss and prayed that God should receive his gentle and loving soul in paradise.

Argungu said the late General Lagbaja left indelible marks on the sands of the nation's security architecture.

He also extended his condolence to the family of the deceased and also prayed that God should comfort them.

The chairman further prayed that

God should grant his successor, General Olufemi Oluyede the wisdom and character to sustain and improve on the cherished legacies of his predecessor.

This was as the National President of the Alumni Association of the National Institute (AANI), Amb. E.O Okafor, on behalf of the executive council and the entire members of AANI, expressed deep sorrow over the passing away of the gallant Chief of Army Staff, Lieutenant Taoreed Lagbaja.

A statement by AANI National

Keyamo Engages Airline Operators, Insurers to Foster New Partnership in Aviation Sector

Says 150 aviation companies to attend Nigeria international airshow

Chinedu Eze in Lagos and Kasim

The Minister of Aviation and Aerospace Development, Festus Keyamo, has convened stakeholders’ engagement aimed at creating new partnership between the Nigeria Insurance Association (NIA) and the Airline Operators of Nigeria (AON).

Also, yesterday, Keyamo hinted that no fewer than 150 aviation companies have indicated interest in the forthcoming Nigeria International Airshow to hold in April, 2025.

The stakeholders’ engagement held yesterday, took place at Transcorp Hilton Hotel, Abuja, where the Minister addressed the persistent

concerns regarding aviation insurance within Nigeria and explored solutions to streamline insurance processes for the nation’s airline industry.

The Minister of Industry, Trade, and Investments, Mrs. Jumoke Oduwole, co-chaired the event alongside the Aviation Minister.

In attendance were notable figures including Senator Adetokunbo Abiru, Chairman of the Senate Committee on Banking; Hon. Usman Ahmed Jaha, House of Representatives member; Dr. Emmanuel Meribole, Permanent Secretary of the Ministry of Aviation and Aerospace Development; Capt. Chris Ona Najomo, acting Director General of the Nigerian Civil Aviation Authority (NCAA); Olusegun Ayo Omosehin, Chairman of the National

Insurance Commission (NAICOM); and Kunle Ahmed, Chairman of the Nigeria Insurers Association, among others.

The event brought together representatives from Nigeria’s aviation and insurance sectors, including Prof. Obiora Okonkwo, Chairman of United Nigeria Airlines; Capt. Roland Iyayi of TopBrass; and Jafar Shuaibu from the Presidential Enabling Business Environment Council (PEBEC).

According to the Ministry of Aviation, the collaboration marked a significant step towards addressing AON’s concerns that insuring aircraft with Nigerian insurers incurs additional operational burdens, a belief that had hindered full utilisation

of local insurance providers.

During a panel session moderated by the Aviation Minister, the AON representatives expressed their reservations and raised questions to NAICOM’s leadership.

Chairman of NAICOM, Olusegun Ayo Omosehin refuted misconceptions around reinsurance in Nigeria, affirming the capacity and readiness of Nigerian insurers to handle aviationrelated risks effectively.

Leaders from the NIA, including Director-General Bola Odukale, provided evidence-backed presentations to dispel any misconceptions within the aviation industry, emphasising the local industry’s strengths and alignment with international standards.

Group Urges Tinubu to Amend NDDC Act

Sylvester Idowu in Warri

The South South Reawakening Group has urged President Bola Tinubu to propose an amendment for the review of the Niger Delta Development Commission (NDDC) Act, for the upward review of allocation to the agency following the scrapping of the Ministry of Niger Delta Development Convener of SSRG, Joe Ambakederimo, in a statement issued in Warri yesterday, said

the proposed bill should raise the equivalent of 15 per cent of the total monthly allocation from the federal government to 25 per cent.

The group also recommended that the three percent of the total annual budget of any oil producing company operating onshore and offshore in the Niger Delta, including gas processing companies, be raised to 10 per cent.

The SSRG equally recommended that 50 per cent of monies due to member states of the Commission

from the Ecological Fund be increased to 75 percent in the proposed bill.

Additionally, the group said it acknowledged the fears entertained by some Niger Deltans over the scrapping of the Ministry of Niger Delta Development by Tinubu and urged the people of the region to apply strategic intelligence in their agitations.

"After the storm that greeted the scrapping of the Ministry of Niger Delta Development

penultimate week by President Bola Tinubu in the wake of his cabinet reshufflment from a section of opposition voices in the Niger Delta region, we want to assure our people that we recognise the fear they express and there is need to assuage those fears, but we must also urge our people to apply strategic intelligence henceforth in agitating for the federal governments attention towards government policies affecting the region.

Publicity Secretary, Brig. Gen. S.K Usman rtd, said that Lagbaja was more than just a military leader, stating that he was a symbol of courage, loyalty, national unity, exceptional commitment and loyalty to his country.

His selfless dedication to duty, Usman said, was evident in his numerous contributions to the Nigerian Army and the nation, adding that he was a true patriot who consistently put the needs of his country above his own.

His words: "A man of exceptional character, the late Chief of Army Staff was known for his humility and approachability. He inspired those around him with his leadership qualities and his ability to motivate and empower his troops.

"His strategic acumen and operational expertise were instrumental in various military operations, where he displayed exceptional courage and resilience.

"As we mourn the loss of this great leader, we extend our deepest condolences to the President and Commander-in-Chief of the Nigerian Armed Forces, Bola Ahmed Tinubu, late General Lagbaja’s spouse and family, friends, colleagues, Nigerian

Army, the Armed Forces of Nigeria and the Nigerian nation at large. May his soul rest in eternal peace". Also, the Inspector General of Police, Kayode Egbetokun and the service chiefs, yesterday, paid a condolence visit to the widow of the late Chief of Army Staff, Lt. Gen. Taoheed Lagbaja, Mrs. Mariya Lagbaja, at his official residence in Abuja. A statement by Force Spokesperson Olumuyiwa Adejobi said the IG described the late COAS, Lt Gen Taoreed Lagbaja, as a great man who dedicated his life and wealth of experience to defending our nation's security space. Egbetokun was in the company of the Minister of Defence, Mohammed Badaru Abubakar, the Minister of State Defence, Dr. Bello Mohammed Matawalle, Chief of Defence Staff, Gen. Christopher Musa, service chiefs, and other senior officers from the Defence Headquarters, Abuja.

While reiterating the significant role the late COAS played in fighting insurgency and terrorism in Nigeria, the IG noted that Gen. Lagbaja's death was a great loss to our dear country and has surely created a vacuum.

Dana Boss Commends Govt’s Commitment, Investment in CNG

Chinedu Eze

The Managing Director/CEO of Dana Motors, Jacky Hathiramani, has commended President Tinubu, the Lagos state governor, Babajide Sanwolu for their commitment and massive investment in CNG as part of efforts to promote cleaner energy across the country.

Hathiramani, who spoke in Lagos yesterday, said the adoption of CNG vehicles was strong response to the high cost of petrol since the removal of subsidy.

''The CNG Conversion Incentive Program, spearheaded by the Presidential Compressed Natural Gas Initiative (PCNGi), is designed to alleviate the impact of rising fuel costs and promote the adoption of cleaner energy sources for transportation and this initiative has a massive $75 million investment from the federal government.

'The Lagos State government apart from providing businesses in

Lagos, a very friendly environment to operate; is also investing heavily in CNG creating a holistic ecosystem that includes exploration, production, storage and retailing, while encouraging key stakeholders like Dana Motors as this is a pivotal step towards a sustainable energy future for our country,'' Hathiramani said. He also stated, “For us at Dana Motors, we are leading the charge for greener tomorrow and local assembling of Kia hybrid and CNG vehicles while still playing a key role in shaping the future of energy in Lagos and Nigeria with our recent partnership with Portland Gas.''

Hathiramani, called for massive adoption of CNG by automobile users, noting that the product has many benefits for individuals, households, businesses and the nation’s economy, remarking that CNG is more cost-effective and will reduce over reliance on traditional fuels.

Sumaina in Abuja

L-R: Executive Chairman of the African Energy Chambers, Njock Ayuk Eyong; Minister for state for Petroleum Resources, Nigeria, Senator Heineken Lokpobiri; President of OPEC, Gabriel Mbaga Obiang Lima; and OPEC Secretary General, Haitham Al Ghais, during the OPEC Africa Round table meeting in South Africa…recently

15WINS VENTURES UNVEILS Z-HABITAT HUB IN LAGOS...

Deregulation Supports Importation, Competition, Pinnacle Clarifies

Says firm not at war with Dangote refinery Sells on-spec petroleum products at modest prices

Signed 13-year interconnection agreement with Dangote

Peter Uzoho

Downstream petroleum giant, Pinnacle Oil and Gas Limited, has clarified that deregulation of the downstream oil and gas sector in Nigeria or anywhere in the world supports and opens the importation, sourcing, and supply of good quality products to serve the market in a competitive manner.

The company, which was reacting to recent allegations by Dangote refinery, said it imported and sold petroleum products that met all quality tests and standards in compliance with industry and country specifications, otherwise known as on-spec products.

Managing Director and Chief Executive Officer of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman, made the assertions yesterday in Lagos during a media parley.

Dickerman provided clarifications to some allegations made by Dangote refinery in a recent press statement.

Dangote and petroleum products marketers had been engaged in spats since the past months, with allegations and counter-allegations.

Dangote had accused Pinnacle of planning to collude with an international

trader to set up a blending plant near the 650,000 barrels per day refinery for the purpose of blending and dumping substandard petroleum products in the Nigerian market.

Dangote Group also alleged that Pinnacle, in one of its replies, might have alluded that deregulation was a licence to import substandard products into Nigeria.

But clarifying the issues raised by Dangote Group, Dickerman stated that his company sold only on-spec products.

He explained, "Deregulation is a licence to import. But he (Dangote) seems to be equating importing with bringing in substandard products. They are clearly not the same thing. We and every other company import on-spec product, quality product. And he (Aliko Dangote) plans to produce quality product, fantastic.

“So, take the substandard out of the equation, deregulation does mean that you can import. It also means you can supply from any source."

Dickerman declared that his company was not adversarial to Dangote refinery or any other player in the industry.

According to him, "I don't see ourselves being in an adversarial position

at all. We may have a different point of view. You've heard our own point of view that a market solution with a market competition is good. It is possible that Dangote doesn't feel the same way. Reasonable people can disagree.

"I pray that this clarification we have provided today is the end of it. I don't know if government has a role to play in resolving this. But we don't want this to go back and forth either. But somebody says what we think is untrue, we are going to clarify and that's we are doing today.

“So we hope this is the end of it because there is business to be done and we have every intention to be working with them, collaborating just like we have done. So it's not war.”

He said all Nigerians should be proud of the amount of capital invested in the country by Dangote.

Dickerman stated, "We as a Nigerian company are very proud that he did this, and we are very much looking forward to supply that will come out of it.

"We are as pro-refineries as we need more investment on this, we need more capital put to work and other manufacturing plants. We need

more risk capital put into electricity generation.

“We need more risk capital put into roads and hospitals and stalls. It's a wonderful thing. We are very much in favour of it and we won't try to work against it (the refinery)."

He explained that the essence of his firm’s collaboration with Dangote refinery was to build a pipeline that would complement their operation.

Going forward, Dickerman said Pinnacle would help the refinery to evacuate its products efficiently while also helping his organisation to have more supply to serve their customers and use their assets to distribute more efficiently throughout the country.

He added, "We want to help Dangote Refinery to be fully up to speed. I pray that he can process crude at 650,000 barrels per day and produce 50 million litres of gasoline, more than Nigeria needs.

"I hope that import still come in and everybody keeps each other honest on the pricing by having maximum sources of supply, so that the market plays as a whole and select the best price of on-spec product; and that we have a very healthy collaborative

Oba of Benin Tasks NDLEA on Cannabis Research

Adibe Emenyonu in Benin City

Omo N' Oba N' Edo, Uku Akpolokpolo, Ewuare II, Oba of Benin, has tasked the National Drug Law Enforcement Agency (NDLEA) to undertake a study into the use of active ingredients in cannabis derived from the hemp plant that could lead to breakthrough in curing diseases, treatment and for other medical use.

Oba Ewuare II made the suggestion when Edo State Commander of NDLEA, men of the anti-narcotic Agency led by its State Commander, Mr. Alumona Callys Obioma, paid a courtesy visit to his palace in Benin City. The first-class traditional ruler challenged the anti-drug agency and the National Agency for Food and Drug Administration and Control (NAFDAC) under the Ministry of Health, to look beyond illicit drug seizures in fighting drug crimes,

currently taking toll in Nigeria and beyond, by focusing on winning proposals/ Research and Development like it's in other climes, including Israel and the US.

Oba Ewuare II, who is also the NDLEA Royal Ambassador, drew the NDLEA's attention to unauthorised sales of prohibited drugs sold in some medicine stores, pharmaceutical companies and other drug cartels in Nigeria.

Recalling how he brought his innovation to bear in laundering Nigeria's image in Rome while serving as Nigeria's Ambassador, and dismantled prostitution and the menace of Human Trafficking, Oba Ewuare II, promised to leverage his diplomatic experience in leading advocacy against drug crimes and pledged the support of traditional institution for NDLEA.

Oba Ewuare II said: "In Israel, they study the use of Cannabis. They have

an industry for producing Cannabis for medical use. I do not know if they have developed that in Nigeria's heath sector.

"You may wish to look into that proposal whereby can have a medical use. It can cure a whole lot of things, according to Israelis."

Earlier in his address, the State Commander of NDLEA, Mr Alumona Callys Obioma, paid tribute to the Oba of Benin for timely intervention on critical issues and solicited prayers to protect the agency's personnel from harm's way and make them achieve their mandate in Nigeria.

Obioma, lamented deplorable roads network and the logistics challenge that are frustrating NDLEA operatives in fighting drug crimes in addition to the involvement of both youths and aging population in drug crimes that fuel social vices, including drug addiction, internet fraud, cultism and

violent crimes ritual murder.

Obioma said: "We cannot fold our arms. We must bring them back. Our parents taught us well. But these ones are trying to show us that they were not taught like our parents.

"So, it out duty collectively to your Royal Majesty and Chiefs present here to talk to our people. Reach out to them on the danger of drug crime.

"Between March and now, we have about five drug users that went through our rehabilitation home.

"My problem is, most of the time we comb the bushes, our men will move around in the night. Now, when you reach a certain place, the cars cannot move. They (NDLEA operatives) have to trek for 2 hours and destroy illicit drugs farms. They will rerun home.

"The major problem we have is mobility. Because the terrain is difficult to access. And we don't have good vehicles to move around."

relationship with him (Aliko) involving pipeline which is in his best interest as well as ours.

“I have every expectation that this is basically where it is going to land."

Reacting specifically to the press statement issued by Dangote refinery on November 5, the Pinnacle boss stated that it was unfortunate and deeply concerning that the release contained several statements that were, "defamatory, inaccurate and intentionally misleading".

He alleged that the refinery advocated a national policy that would cause severe economic damage to Nigerians by raising

the cost of petrol above global market prices, higher than they were today.

According to him, Pinnacle Oil and Gas built a revolutionary terminal in Lekki Free Zone at great expense for the purpose of greater efficiency in the distribution of petroleum products throughout Nigeria. Prior to the Pinnacle terminal, he said all imported cargo had to be transferred to smaller vessels due to the shallow draft restrictions across Nigerian ports. He argued that this extra vessel charter, along with the associated costs of delay, had been inflating the delivered cost for many years.

HOMEF Calls for Decisive Climate Action as COP 29 Approaches

Michael Olugbode in Abuja

Health of Mother Earth Foundation (HOMEF) convened a webinar titled, “The Emission Gaps and the Road to COP 29.”

The webinar brought together environmental experts, activists, and public interest lawyers to discuss urgent issues surrounding global climate policy, emissions reduction, and the upcoming COP29.

Speakers reviewed the evolution of COP conferences and pointed to critical milestones, such as the Kyoto Protocol of 1997 and the Paris Agreement of 2015. They noted, however, that COP’s current voluntary emission targetsknown as Nationally Determined Contributions (NDCs) - fall short, pushing the world dangerously close to catastrophic temperature increases.

Participants critiqued COP’s structure, which continues to benefit wealthy nations and the private sector at the expense of vulnerable communities.

Ruth Nyambura, an African ecofeminist with Ramani Collective, argued that the emissions gap reflects more than just figures; it represents ongoing injustices - wars, inequality, and human rights abuses.

She highlighted how the fossil fuel industry and military-industrial complex drive environmental devastation and land dispossession, especially across African nations and the broader

Global South.

“For participatory frameworks to ensure these funds serve communities genuinely impacted by climate change and avoid absorption by elites or corrupt governments, a decentralized approach to climate policy would better meet the real needs of frontline communities,” she said.

Nyambura called for a reevaluation of COP data and narratives to dismantle rather than reinforce colonial power structures while highlighting the limitations of current multilateral structures, prioritizing powerful nations and sidelining local voices.

Fadhel Kaboub, an associate professor of economics at Denison University and Senior Advisor with PowerShiftAfrica, noted that global warming targets would be impossible to achieve under current fossil fuel extraction rates, leaving Africa’s renewable potential largely untapped due to a lack of financing and technology transfer.

Kaboub advocated climate reparations, structured as grants rather than loans, to address the historical carbon debt owed by industrialized countries.

His words: “These reparations would finance Africa’s self-sufficiency through renewable energy and food sovereignty initiatives. As COP 29 approaches, we must center the voices of those most affected by climate injustice, especially in the Global South.

L-R : Nelson Tosin Ajulo, Chief Executive Officer, 15Wins Ventures; Michel Deelen, The Netherlands Consul General in Lagos; Valkamiya Ahmadu, Senior Policy Advisor on Economic & Political Affairs Netherlands Embassy, Abuja; Sonia Onovughakpo Fajusigbe, Policy Advisor on Entrepreneurship, Youth Employment & Health Care, Consulate General of the Netherlands in Lagos; Bengt van Loosdrecht, Ambassador of Netherlands to Nigeria, during the grand unveiling of the Z-Habitat Hub, Nigeria’s most advanced incubation hub at Ago Palace, Lagos on October 24, 2024.

STRATEGIC MEETING AT THE NIGERIA HIGH COMMISSION...

Emmanuel Addeh in Abuja

Masters Energy Group has refuted an allegation by a former aide to ex-President Muhammadu Buhari, Lauretta Onochie, that the firm was embarking on the importation of expired rice into the country.

The company further threatened legal action against Onochie, should she fail to retract the unsubstantiated allegation levelled against it.

To clarify the matter, the firm stated that the incident referenced in the ‘false claim’ dates back to 2016 and was entirely due to circumstances beyond its control.

The issue, it said, originated from the appointed clearing agent, compounded by customs restrictions

“We categorically deny the recent allegations suggesting that our company imported expired rice with the intent to distribute it within the Nigerian market. This allegation is entirely baseless, propagated by individuals aiming to tarnish our company's reputation through the dissemination of inaccurate information,” the firm stated.

and the introduction of a ban on 41 items, which included its cargo after it had already been shipped.

Masters Energy stated that due to customs clearing issues, the cargo was abandoned, leading to frustration as it awaited a resolution from the authorities.

“It was only three years later, after seizure by customs, that the container was opened, by which time the product had naturally degraded.

“At no point was expired rice authorised for import by our company, nor was it ever intended to reach the market. Our company adheres strictly to quality control standards and import regulations, maintaining an unwavering commitment to product safety and consumer trust,” the company stated.

While demanding an apology from Onochie, Masters Energy called for the immediate retraction of the imputation and the issuance of a

formal apology to the company.

“To protect our integrity, we demand that Lauretta Onochie immediately retract this defamatory publication from all her media and social platforms and issue a formal letter of apology to our company.

“Should she fail to comply, we will have no choice but to pursue legal action to safeguard our brand and reputation. We appreciate the continued trust of our stakeholders and the public as we remain dedicated to serving with integrity and transparency,” it added.

Borno Elders Hail Ndume’s Opposition to Tax Reform Bills Masters Energy Denies Importing Expired Rice, Threatens Legal Action

Sunday Aborisade in Abuja

Leaders and concerned elders in Borno South Senatorial District have expressed their support for Senator Ali Ndume, for opposing plans by President Bola Tinubu to reform the tax administration in the country, through the National Assembly.

The leaders, who are members of the Southern Borno Concerned Citizens, made their position known in a statement made available to journalists in Abuja, yesterday.

The leaders said they were fully behind Ndume, who had in a series of media interviews and press statements, urged President Tinubu to jettison the idea of the tax reforms.

Spokesperson for the Senatorial District, Bulama Ali Haruna Sawa, signed the statement on behalf of others.

He urged Nigerians to ignore a “so-called Northern Redemption Coalition, and its faceless Convener, one Adamu Bashir, over the position of our Senator, Mohammed Ali

Ndume, on the tax bill submitted to the National Assembly by President Bola Ahmed Tinubu.”

Sawa said the people of Borno South support the position of Ndume.

He said: “As a people who understand the implications of the said bills and its likely after effects on our people, we have decided to speak out, if only to expose the fallacy in the said Adamu Bashir’s rejoinder to Senator Ndume’s interview on the television.

“We fully identify with the positions of northern governors, our revered northern elders and the National Economic Council, and of course Senator Mohammed Ali Ndume over the matter.

“The said Bashir Adamu, if he actually exists, is at best a meddlesome interloper, who is not known to anybody in Southern Borno.

“We challenge him to make a physical appearance as proof of his real identity, and to tell the world at which meeting it was agreed that the people of Southern Borno

differ with their senator over the tax reform bill.

“It is not only true that the bills have the tendency to deepen the pedagogy of the Nigerian masses but is heavily skewed against our people and indeed the people of the North.

“We had expected Adamu Bashir to take up arguments based on issues raised by the Senator in the interview rather than rush to the public with a poorly scripted demagogue on behalf of his paymasters.

“It is rather a paradox that Bashir talks about recalling Senator Ndume at a time we are getting pleased and satisfied with Ndume’s work as our senator.

“It is also unfortunate that, somebody somewhere has decided to trivialise the very serious issue of a bill that will further cause harm to an already despairing populace, for obvious pecuniary gains.

“Senator Mohammed Ali Ndume has often made us proud every time he comments on national issues, including the most recent

one about the tax bill.

“While his views may sound repugnant to the powers that be, they are very pleasing to us and reflective of the mood of Nigerians in general.

“Never has Senator Ndume ever spoken about issues, and his views are found to be contrary to the general public expectations.

“To every right-thinking Nigerian, Senator Ndume merely re-echoed the prevailing sentiment in the country, to the effect that, some of the fiscal reforms being introduced in the Nigeria are at variance with the general mood and antithetical, injurious and painful to the citizen.

“It is a truism that, at a time the governments of other countries, especially our neighbour Ghana, are reducing taxes for their citizens, ours has become so insensitive, to the extent of increasing taxes.

“The Nigerian government ought to learn from the recent experiences of Kenya, where planned fiscal reforms plunged the country into a nationwide catastrophe.

NAPPS Pledges Scholarships for Minors of 'End Bad

The National Association

its

The Board of Trustees

Alhaji Abdulmumuni Kundak, made this known in Lagos,

Governance' Protest

while briefing journalists on the association's upcoming international conference, exhibition, and National Delegates Conference (NDC). Kundak commended President Bola Ahmed Tinubu for securing the release of the minors, noting that NAPPS has long provided scholarships as part of its mission to uplift society. According to him, "NAPPS Nigeria is fully dedicated to advancing

educational development and promoting high standards in teaching, remaining a cornerstone for positive change in Nigeria’s educational sector."

He also commended the introduction of the new entrepreneurship curriculum for primary schools, emphasising the vital role skill acquisition plays in Nigeria’s development.

Additionally, he announced that the association's BoT and its

new 2023 constitution have been approved by the Corporate Affairs Commission (CAC), underscoring NAPPS' structural integrity.

Scheduled for November 20 and 21 at the International Conference Centre, Calabar, Cross River State, the association’s international conference and exhibition will focus on the theme, 'Illuminate, Innovate, Elevate: Breaking Barriers in the Education Sector for National Development'.

Group Petitions Tinubu Over Alleged Violation of Federal Character in Appointment of INEC Commissioner

Adedayo Akinwale in Abuja

Peering Advocacy and Advancement Center in Africa (PAACA) has petitioned President Bola Tinubu over alleged violation of federal character principle in the recent appointment of a National Commissioner of the Independent National Electoral Commission (INEC).

Its Executive Director, Ezenwa Nwagwu, in a letter addressed to the President, a copy of which was made available to THISDAY pointed out that the recent appointment of Mr. Abdulrazak Tukur, from Katsina State as a National Commissioner adds a third representative from the North West zone.

He maintained this constituted a clear violation of the federal character principle which mandates balanced representation of Nigeria’s diverse geopolitical zones.

Ezenwa stressed that since its inception, INEC has followed a structure in which each geopolitical zone is represented by two national commissioners, noting that the recent decision to appoint a third national commissioner from the North West - while leaving the South-East with only one representative since July 2023 breaks this established balance and sets a concerning precedent.

He added that the North-West geopolitical zone is currently represented by two national commissioners in the persons of Prof. Abdullahi Zuru from Kebbi State and Prof. Muhammed Kallah from Katsina State.

Nwagwu noted: "Your Excellency, there is no public information indicating that Professor Muhammed Sani Kallah from Katsina, has resigned as a national commissioner, or that a vacancy exists in this position.

This raises questions about the need for appointing a third representative from the North-West, particularly from the same state.

"Adding a third national commissioner from the same region breaks the longstanding practice of equal representation in INEC appointments across the six geopolitical zones and undermines public trust in a balanced and impartial electoral body.

"It is important to respectfully draw your attention that it has now been one year and four months since Barr. Festus Okoye, the former national commissioner representing the South-East, completed his first tenure in July 2023.

“Despite the South-East’s vacancy remaining unfilled, this recent appointment rushed to fill the North-West’s vacancy instead, thus elevating the representation of one region above others."

Nwagwu, therefore, called on the president to prioritise filling the South-East’s long-standing vacancy with a qualified national commissioner from that region, restoring the balanced representation in INEC.

He said: "This delay in filling the South-East vacancy and the rush to add a third representative to the North-West raises significant questions about the fairness and impartiality of INEC’s composition.

“Such actions suggest a regional imbalance that could impact the commission’s ability to conduct elections credibly, especially as we approach the 2027 general elections.

"It is our humble opinion that for INEC to fulfill its mandate effectively, it must embody impartiality and reflect the balanced representation of Nigeria’s diverse geopolitical regions.

Funmi Ogundare

of Proprietors of Private Schools (NAPPS), yesterday, disclosed

commitment to offer scholarships up to secondary level for minors arrested during the #End-Bad Governance protest.

(BoT) Chairman,

L-R: Comptroller General of Immigration, Kemi Nanna Nandap; Home Secretary, Rt Hon. Yvette Cooper; Minister of Interior, Olubunmi Tunji-Ojo; Permanent Secretary, Ministry of Interior, Dr. Magdalene Ajani; and Comptroller General of the Federal Fire Service, Engr. Abdulganiyu Olola Jaji, after a strategic meeting at the Nigeria High Commission, United Kingdom, on Wednesday

COURTESY VISIT…

Anti-Corruption Group Petitions EFCC, Demands Arrest, Prosecution of Ganduje

Goddy Egene

A coalition of 51 anti-corruption groups has formally petitioned the Economic and Financial Crimes Commission (EFCC), seeking the immediate arrest and prosecution of the former Governor of Kano State and current National Chairman of the All Progressives Congress(APC), Abdullahi Umar Ganduje.

The petition, dated November 4, 2024, and acknowledged by EFCC yesterday, outlines numerous allegations of bribery and misappropriation against Ganduje.

Ganduje’s tenure as governor from 2015 to 2023 was marred by accusations of corruption, including a recent fraud charge filed by the Kano State government.

Fubara Assures Road Users of Safe Environment in Rivers

Blessing Ibunge in Port Harcourt

Rivers State Governor, Siminalayi Fubara has assured road users that his administration will not relent in providing the enabling environment for the safety of their lives in the state.

Governor Fubara gave the assurance in Port Harcourt yesterday, while delivering a keynote address at a town hall meeting with stakeholders on road traffic administration and safety management.

The meeting, organised by the Federal Road Safety Corps (FRSC), Rivers Sector Command, is part of FRSC 2024 Ember month road safety campaign activities in the state

Represented by the Permanent Secretary, in the Office of the Secretary to the State Government, Mr. Hamilton Amadi, the governor emphasised that it was necessary to realise the UN Decade of Action for Road Safety, which aims at promoting road safety, create safe, inclusive and sustainable streets

worldwide.

He observed that in order to achieve the Decade for Road Safety; there is need for the FRSC to ensure stricter enforcement of traffic codes to keep the roads safe for all users.

He said: “The escalation of road crashes, and its toll on lives and properties during the “Ember” months calls for drastic and urgent actions to prevent a preventable health, social and economic burden resulting from the prevalence of such crashes. Road crash is dubbed the silent pandemic by the United Nations.

“It is only when we work together to create an environment where every journey is safe, that we can truly say, we spoke out against road mishaps. Let us join our hands together, and say no to road accidents these ‘Ember’ months and beyond.”

He acknowledged that many accident scenarios have ripple effects as “lives are lost, properties destroyed, hopes shattered, and the nation loses out”.

APC Stalwarts Urges Lokpobiri to Reposition Party in Bayelsa

Olusegun SamuelinYenagoa

Stalwarts of the All Progressives Congress (APC) in Bayelsa State have called on the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, to take over the leadership of the party as the highest office holder from the state to reposition the party.

The stalwarts, under the auspices of the APC Solidarity Vanguard, expressed deep concerns regarding the current state of the APC in the state.

In a statement yesterday by the group’s President, Timighe Cleopas, and the Secretary, Jackson Agbabi, they said as committed members of this party, they could not overlook the evident lack of direction that had stricken the party at both the ward and state levels.

They said the alleged absence of legitimate party executives had left them in a state of disarray, particularly following the controversial imposition of

the current executive committee, saying their leadership had been marked by alleged high-handedness and incompetence, which led to the party’s unfortunate performance in the 2023 general elections.

They claimed that the 2023 governorship election in the state further underscored the party’s challenges, reducing the party’s presence to a mere sideshow amidst a two-man party contest, resulting in an embarrassing defeat of their flag bearer.

They said: “In light of these circumstances, we are reaching out to you, as the highest office holder from Bayelsa State and the Honourable Minister of State for Petroleum, to urgently take charge of the party’s leadership.

“Your role is crucial in the reintegration, rebuilding, and repositioning of the APC in Bayelsa for future electoral success. This is not only a statutory responsibility but a moral imperative for the sustenance and growth of our party.

The charge by the Kano State government alleges that Ganduje conspired to divert over N57.43 billion meant for the 44 local government areas of Kano

State, using the funds to acquire luxurious properties locally and internationally.

His administration has also been accused of cronyism, nepotism,

and embezzlement.

Specific allegations against Ganduje include orchestrating a scheme to syphon funds through various accounts, converting them

into cash and foreign currencies between 2020 and 2023, and multiple counts of criminal conspiracy, breach of trust, and misappropriation.

Amadi Decries Nigeria’s Poor Rating in Corruption

Ayodeji Ake

Nigeria’s poor rating in corruption perception index and other indicators of public probity is a cause for concern, according to the former Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi. He made the remarks as the Guest

Speaker at the 6th Annual Lecture of Just Friends Club of Nigeria (JFCN) which held in Abuja.

The topic of Amadi’s lecture was “High Cost of Governance As an Impediment to Development.”

Despite having an array of well educated and nurtured people, the expectation is that Nigeria will be suffused with a high degree of ethics and

competence in corporate and public leadership. But Amadi said Nigeria faces an acute crisis of values which reflects in the gross lack of productivity in both its private and public sector.

He said: “As a world leading producer of oil, we ought to be richer than we are. But we know that the wealth of nations does not come mostly from natural

Index, Others

resources. Countries like Singapore and South Korea are not so much naturally endowed. In fact, they are geographically constrained in many ways. But Nigeria won the geographical lottery in many ways. Yet are in many ways victim of Dutch Disease. Natural resources have not translated into wealth. They have mostly turned into a curse.”

Investment in Education Promises Intergenerational Value, Says Remi Babalola

A former Minister of State Finance and current Pro-Chancellor of Kola Daisi University, Ibadan, Remi Babalola, yesterday said that parents’ investment in their children’s education promises intergenerational value and a more secure society, amongst other benefits.

Babalola stated this during his address at the University’s

4th convocation ceremony of the university. While congratulating the parents and guardians of the 156 new graduates, he added that the returns on their investment extend beyond the individual graduates to benefit society at large. He said: “Your investment in their education holds the promise of intergenerational

value and a more secure society, contributing ultimately to a more prosperous Nigeria. By investing in their education, you are setting them up for a lifetime of earning potential, overall health, and wellbeing. The returns on this investment benefit not only you and the graduates but society as a whole.”

Emphasising the importance

of global thinking in modern education, Babalola advised the graduates to “be global in your mindset in order to compete favourably in whatever path you choose and remain relevant.”

He described the graduates as ambassadors of knowledge, innovation, and progress, noting that their education is a powerful tool for problem-solving.

UK Expert Cautions on Using Card PINs for Online Transactions

A British-Nigerian chartered engineer and information security expert, Dr. Kingsley Chibuzor Aguoru, has cautioned customers on using card personal identification number (PINs) for online transactions.

He made this known in a statement where he urged the

Central Bank of Nigeria (CBN) and the Economic and Financial Crime Commission (EFCC) to take action, and also called for the ban on ATM card PIN usage for online payments.

He said payment providers such as Paystack, Flutterwave, and Interswitch who offer card

PIN payments put Nigerians at risk of online fraud.

“With over 20 years of experience in financial technologies and security, I pioneered the concept of one-time password (OTPs) for card-not-present payments as a postgraduate researcher at the University of Liverpool in 2005.

“I am compelled to bring attention to the critical flaws in Nigeria’s current online card payment practices, specifically the continued use of card PINs in online transactions, which exposes Nigerian consumers to unnecessary risks and significant danger,” he said.

Otti Renames Abia Poly after Onu, Says He Was Selfless Great Leader

Emmanuel Ugwu-Nwogo in Umuahia

Abia State Governor Alex Otti, yesterday immortalised the first democratically-elected governor of the state, Late Dr. Christopher Ogbonnaya Onu by renaming the Abia State Polytechnic Aba after him. He announced that the Polytechnic would henceforth be known as Dr Ogbonnaya Onu Polytechnic Aba, saying that Onu’s name deserved to be immortalised given his impactful leadership in Abia and the Nigeria in general.

“The Polytechnic will henceforth be known as “Dr. Ogbonnaya Onu Polytechnic, Aba”, Otti declared to a huge applause by the congregation at the interdenominational service Abia held for its late governor.

In a poignant tribute, Otti, who is the fifth chief executive of Abia, stated that his late predecessor “not only laid the foundation for the dynamic and structured development of all parts of the State, he set up major administrative and service-delivery structures that are still functioning till today.”

Olori Atuwatse, Abebe, Otubu to be Honour at Hussey College Fundraising Dinner

The annual Hussey College Warri Old Students Association (HCWOSA) Awards Dinner and Fundraising will take place on Sunday, November 10, 2024 with some dignitaries billed to be honoured for their contribution to national development in various spheres of endeavour.

The event which starts at 3.00p.m

at the Bics Event Centre, Lekki Phase One, will be chaired by Managing Director, Premium Trust Bank, Mr. Emmanuel Efe Emefienim.

The Queen Consort of Warri Kingdom, Olori Atuwatse III, will receive the Award for Service to Humanity in recognition of her charity work with the Royal Iwere

Foundation in advancing education, healthcare and alleviating poverty in Warri Kingdom. Some old students of the famous Hussey College who have excelled in their various professional calling will also be honoured with the Award of Excellence. They include: The first female President of the Institute of

Chartered Accounts of Nigeria (ICAN), Chief (Mrs) Elizabeth OmeresanAdegite; Retired Permanent Secretary of the Federal Civil Service, Dr Edugie Ehanire-Abebe; Chairman, Eko Distribution Company, Mr. Oritsedere Otubu, and former Chairman of the Nigeria Football Federation, Mr Amaju Melvin Pinnick.

Celestial Church Leader Foresees End to Nigeria’s Economic Woes

Mary Nnah

In a powerful declaration of faith and hope, the Celestial Church of Christ Covenant Cathedral, Amuwo Odofin Parish, has prophesied an end to Nigeria’s economic woes.

The prophetic message was delivered by the Patron of the church, Most Senior Evangelist Soye Oluremi Oniagba, during the church’s 44th Adult Harvest celebration, themed “Harvest of His Praise” (Psalm 100:4).

“By the time we celebrate our harvest next year, the source of grace and blessings will have started coming down from heaven,” Evangelist Oniagba declared.

“Every Nigerian... I’m too sure of it. I am damn too sure of it. People who are cursing

the government today will start praising the government.” Evangelist Oniagba emphasised the importance of praising God despite challenges, citing Psalm 100:4, which encourages believers to enter God’s presence with thanksgiving and praise.

Lagos State Governor, Babajide Sanwo-Olu(left), and Managing Director, Dana Motors Limited, Mr Jacky Hathiramani, when he visited the governor in Lagos… recently

Abducted Edo Catholic Priest, Fr. Oyode, Set Free

Adibe Emenyonu in Benin City

The Catholic Diocese of Auchi, yesterday, announced the release of Rev. Fr. Thomas Oyode from the hands of his abductors.

The Director of Communications of the Diocese, Rev. Fr. Peter Egielewa, in a statement, said Rev. Fr. Oyode was released at about 7.00p.m on Wednesday, 6th of November, 2024 at a village close to Ajaokuta, Kogi State.

Fr. Thomas Oyode was kidnapped on the 27th October 2024 when gunmen attacked the Immaculate Conception

Minor Seminary, IvhianokpodiAgenebode, Etsako East Local Government Area of Edo State, while the Priests and Seminarians were observing their evening prayers and Benediction.

“The Bishop of the Catholic Diocese of Auchi, Most Rev. Dr. Gabriel Dunia, expresses gratitude to all for the prayers and moral support received for the 11 days Fr. Thomas Oyode was held captive, including Catholic Faithful within and outside the Diocese, wellmeaning Nigerians within and outside the country, friends and well wishers around the world, as well as security agencies, various vigilance groups and hunters who laboured day and night in search of Fr. Thomas Oyode.

“The Bishop also uses this opportunity to call on government at all levels to work to arrest the deteriorating security situation around the Edo North Senatorial District and Edo State and take pro-active steps to put in place measures that will guarantee that people return to their normal peaceful lives in their homes, in their farms and while on transit,” the statement said.

NIPR Lauds Oborevwori’s Projects in Delta

The Nigerian Institute of Public Relations (NIPR) yesterday commended Governor Sheriff Oborevwori of Delta State for the construction of legacy projects across the state.

NIPR’s Vice President, Professor Emmanuel Dandaura, gave the commendation during a tour of some projects executed by the government across the state.

The projects visited include; the Okpanam-Ibusa bypass, Ughelli-Asaba road dualisation, ongoing construction of flyovers

at Enerhen Junction, PTI Junction, DSC Roundabout by Julius Berger and the EmevorOrogun road project.

Speaking at PTI Junction Effurun, Professor Dandaura, who was accompanied by Council members of the Institute, Thelma Okoh and Paulinus Nsirim, thanked Governor Oborevwori for his intervention on federal roads in the state.

According to him, we have driven about 128 kilometers since we left Asaba and you

can see that roads are good and in spite of that, work is still going on to ensure that where we need bridges they are constructed and where we need to relay the road, it is being done.

“I am aware it is a federal road, the truth of the matter is that every right thinking governor knows that when people are driving through the state they are not thinking who owns the road but they will be asking is there no governor in this state?

Oyebanji Approves another N1bn for Gratuities

Gbenga Sodeinde in Ado Ekiti

Ekiti State Governor, Biodun Oyebanji, has approved the release of the sum of N1 billion as gratuity to state pensioners. Similarly, the governor has also approved payment of two months pension arrears to local government pensioners.

This is coming barely a month after the governor distributed a total N3.5 billion in gratuity cheques to retirees in the state, in a bold effort aimed at offseting the backlog of outstanding gratuities.

Additionally, Governor Oyebanji has approved payment of two months outstanding subvention to Ekiti State University, Ado-Ekiti and one month outstanding subvention each to Ekiti State University Teaching Hospital, (EKSUTH), Ado-Ekiti; Bamidele Olomilua University of Education, Science and Technology, Ikere-Ekiti; and College of Health Science and Technology, Ijero- Ekiti.

CHANGE OF NAME

I,formerly known and addressed as EMEKA PAUL MBA, now wish to be known and addressed as MBA NNAEMEKA. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as SUNDAY OLUGBILE ADEYEMI, now wish to be known and addressed as SUNDAY ADEYEMI LALA. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as MISS MARGRET OKO DAVID now wish to be known and addressed as MRS MARGRET OCHANYA OKECHUKWU SIMONALA. All former documents remain valid. The general public should please take note.

I formerly known and addressed as MISS. JOHN LOVE KAUNA now wish to be known and addressed as MISS. LOVE KENNETH. All former documents remain valid. The general public please take note.

A statement signed by Special Adviser on Media to the Governor, Yinka Oyebode, added that approved for release is one month outstanding subvention to the Judiciary.

The payments are in fulfillment of the governor’s promise to priortise welfare and wellbeing of workers and retirees and ensure that all outstanding entitlements of workers and

pensioners owed by previous administrations are paid to them in line with the continuity and shared prosperity agenda of the administration.

The governor urged workers in the state to remain focused on excellent service delivery, assuring them of his administration’s commitment to their welfare as well as payment of all their entitlements.

FG Targets Art Sector for Economic Diversification

Omolabake Fasogbon

The federal government has declared intention to intensify investment in local art to revive the economy.

Reiterating the sector’s potential at Evvdee Art Academy launch in Lagos, recently, Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musawa, stated that the sector is being positioned to generate at least $100 billion annually.

The minister commended private initiatives like Evvdee for keying into government’s drives to revitalise art and creative economy.

CHANGE OF NAME

I formerly known as AMADI COURAGE IHEUKWUMERE now wish to be known as AMADI COURAGE. All former documents remain valid. National Identity Management Commission, other authorities and the general public please take note. This is to notify the general public that OKON was ommitted from the complete name of MR IDONGESIT LANCE NKANGA with previous Passport No A05100628 And that IDONGESIT LANCE OKON NKANGA and IDONGESIT LANCE NKANGA are one and the same person. The general public should please take note.

CORRECTION OF

This is to certify that my correct name is JEREMIAH ENIOLA ELIZABETH and not JEREMAIAH ENIOLA ELIZABETH as misspelt in my for School Candidates, WASSCE (SC) 2024 issued by the West African Examinations Council (WAEC). Examination bodies, educational institutions and the general public should please take note of this correction.

Acknowledging skills gap, Musawa said the ministry is exploring collaboration with private initiatives, including Evvdee to develop capacity of artists in a bid to produce more talents.

“We cannot underestimate the roles of skills and knowledge to arrive at a desired designation, which is why we are leveraging collaboration to invest in talent skills development and avail them necessary opportunities to become full -fledged artists,” she said.

Speaking, Founder of Evvdee Academy, Dr Fola David, stated that the academy idea was inspired by observed disconnection amongst artists, noting that the academy was poised to promote family-like bonding among learners and professionals in Nigeria and beyond.

He emphasised the sense of belonging and family-like bond amongst artists to boost their morale and output.

“This was a major challenge in my journey. In addition to training, we want to mitigate some of the social challenges faced by artists by bringing them together under one umbrella where they can meet like once in three months to brainstorm on industry and trends as well as personal issues,” he said.

David, who is also a Guinness World Record Holder for Largest Drawing by an Individual, informed that the academy is in partnership with National Gallery of Arts (NGA) to deliver superior training through accomplished resource persons within and outside the country.

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Evolution of Islamic Finance: A System of Justice and Ethical Prosperity (II) WORLD OF ISLAM

What is Islamic finance?

Islamic finance is a banking system that operates without interest, adhering to Sharî’ah law principles. It emphasizes risk-sharing, ethical investing, and profitability without engaging in activities considered harmful or exploitative, such as usury. The fundamental characteristics often contrast with conventional banking, which typically includes interest-based transactions.

Islamic finance refers to financial activities and products that comply with Islamic law (Sharî’ah), which prohibits practices such as usury (ribâ) and promotes ethical investments. It encompasses a variety of financial transactions that aim to ensure justice and equity in economic dealings, focusing on moral principles in managing money, saving, and investing.

Chloe Domat introduces Islamic finance in the following terms:

“Islamic finance is a way of doing financial transactions and banking while respecting Islamic law or sharia. Islamic finance hardly existed 30 years ago yet today is a $3.96 trillion industry with over 1,650 specialized institutions located all around the world. Islamic banks are by far the biggest players in the Islamic finance industry and account for $2,7 trillion or 70% of total assets. According to a 2023 State of Global Islamic Economy report, total sharia-compliant assets are expected to grow to $5.95 trillion by 2026.”

Initially, Islamic finance was limited to the framework of opinions (fatwâs) issued by Muslim jurisconsults (shaykhs) specialized in the jurisprudence of economic transactions (fiqh al- mu’âmalât), which described what was permissible and what was not.

Then in the second phase, writings on the subject tended to be critical of the communist and capitalist systems. It wasn’t until the third quarter of the last century that the foundations of Islamic finance began to crystallize as a subject of study and as an industry.

Then, the efforts of researchers in theology and economics focused on differentiating between those aspects of the traditional financial system that do not contradict the precepts of Islam, in order to retain them, and those aspects that constitute a violation of these precepts. This is based on the fundamental principle that permission is the rule in transactions, prohibition being the exception.

To show the financial relevance of Islamic finance, Mumtaz Hussain, Asghar Shahmoradi, and Rima Turk write:

“Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20% annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks (IBs), however, is so far mixed. While these banks face similar risks as conventional banks (CBs) do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.”

Next, work was done to how to meet the needs expressed by customers of financial institutions, while respecting the fundamental principles of Muslim law, which led to the creation of a range of instruments and institutions.

This, also, led to the emergence of an Islamic financial system and its own philosophy, a system with its own principles, values, mechanisms and institutions, each with its own way of operating. It was, in fact, Islamic banks that subsequently institutionalized the concepts of this type of finance. As it is not a divine system, it is dynamic and can evolve to keep pace with changes.

Islamic financial institutions include Islamic banks, Islamic or Takâful insurance companies, Islamic investment funds and issuers of sukûks (the Islamic equivalent of bonds). At the end of 2010, there were over 300 Islamic financial institutions in over 75 countries worldwide. The assets under management exceeded one trillion dollars.

According to a study published by Ernst & Young, retail banks are the main vehicle for the Islamic financial industry managing 74% of Islamic financial assets, compared with 10% for sukuk issuers, 10% for investment banks, 5% for investment funds and just 1% for Takaful companies.

The system is also equipped with control and regulation bodies. It is within this framework that Sharî’ah control bodies operate, as well as the various bodies for standardization, training, arbitration, rating, etc. Here are just a few examples AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), CIBAFI (General Council for Islamic Banks and Financial Institutions), IIRA (Islamic Rating Agency) or IICRA (International Islamic Center for Reconciliation and Arbitration).

Islamic finance is part of the broader concept of Islamic economics, an economic doctrine, which, like all other doctrines (capitalism, communism, socialism), differs in its own value system. It is this system of values, universal in the end, that sets Islamic finance apart. Indeed, in addition to meeting the regulatory requirements and regulatory constraints demanded by the laws in force (banking laws, security laws, etc.),

Islamic financial institutions are required to comply with certain requirements and rules that have their origins in Muslim law or Sharî’ah law. Thus, Islamic finance is first and foremost an ethical form of finance.

A value system built on the need to avoid what is forbidden, on a balance between self-interest and public interest, but also on the values of fairness, transparency and sincerity... These values are of paramount importance and must be reflected in acts and transactions. Islamic finance is marked by its prohibition of interest (ribâ) and its focus on ethical investment, emphasizing social responsibility. It recognizes two primary modes of financing: participatory and non-participatory. Additionally, there are two main types of sukûk (Islamic bonds), which include sovereign issuances by states and corporate issuances by companies or banks.

The fundamental principles of Islamic finance

The prohibition of interest-bearing loans (ribâ) is not the only distinctive feature of Islamic finance. It is based on other equally important principles. This is, of course, a non-exhaustive list of principles, some of which are the offshoots of others.

Prohibition of lending at interest (ribâ) Usury (ribâ) is expressly forbidden in the Qur’ân. The Prophet cursed those who take it, the giver, the drafter and the witness. It is therefore forbidden to demand a return from the simple act of lending. Interest is the price of the loan, whereas, fundamentally, the loan must not generate any profit. This prohibition applies both to contractual interest on the loan as it does for any other form of late interest or interest disguised as penalties and commissions.

Prohibition of excessive risk (al-gharâr)

Operations and transactions must be conducted with the necessary transparency and clarity, so that the parties are fully aware of the value of their exchanges. For this reason transactions whose counter-value is not accurately known, those involving excessive risk, or where the outcome depends essentially on chance, are prohibited.

In all cases, Islamic finance is linked to the real economy. All financial transactions must be backed by real, exchangeable assets. This principle, combined with the prohibition of excessive uncertainty means that, for example, derivative products are prohibited.

Profit and loss sharing

No single party can assume all the risk associated with a transaction. As a result, the other party cannot claim the privilege of transferring all risk to the other party. Return is a corollary of risk, and its main justification. It is for this reason you cannot commit to a fixed return on an investment, for example.

No selling what you don’t own

Ownership is the main justification for generating profit, either by holding it or by selling it. This justification is simply a translation of the previous rule, since owning an asset means that the owner has to bear risks that justify the profit, if any. Therefore, you cannot sell an asset you do not own (the only exception to this rule is the Salâm contract), or sell assets before owning them. This is why intermediation activities are highly regulated, with financing processes that are meticulously designed to comply with this rule.

Prohibition of illicit activities

Islamic finance is ethical and responsible. This means that it is forbidden to finance all activities and products that are contrary to Islamic morality: alcohol, drugs, tobacco, weapons... as well as consumer products prohibited by Islamic texts (pork and pork products).

Prohibition of deferred exchanges of standard currencies

According to an express saying of the Prophet, the exchange of standard values of the same kind (gold for gold, silver for silver, and consequently currency for currency) may only be exchanged (from hand to hand) and in the same proportions. This text is at the origin of the prohibition of forward exchange, for example. Muhammad Aqib Ali, explains the above principles in the following terms:

“Islamic economic and financial system is based on the idea of collective welfare which is driven by virtue and goodness of both worlds. This idea of Islamic economic system is greatly in contrast to the modern interest based economic system which is driven by the principles of capitalism, unbridled resource consumption and materialism. Islamic system of finance emphasizes risk sharing which provides Islamic financial methods like murabaha, mudaraba, ijarah, musharakah, salam and istisna – guided by the Islamic principles derived from Holy Quran and the Sunnah (sayings and acts) of the Holy Prophet (SAW) to eventually facilitate trade and business in the society and to consequently bring economic well-being and prosperity. This is incredible to note that Islamic sacred texts from the times when paper money was not even invented offered guidance on intricate financial issues. Besides this, Islamic principles also provide guidance on the architecture of a system that is economically just and fair and is based on the schema of socio-economic welfare of all and not just certain wealthy individuals or groups.”

Mohamed Chtatou/IslamiCity

RESULTS

Bodoe/Glimt 1-2 Qarabag

E’Frankfurt 1-0 Sl’Prague

Elfsborg 1-1 SC Braga

FCSB 2-0 Midtjylland

Galatasaray 3-2 Tottenham

Ludogorets 1-2 Athletics  Nice 2-2 FC Twente

Olympiacos 1-1 Rangers

U’Gilloise 1-1 Roma

AmunUrgesStakeholders

Amun Urges Stakeholders to Support Shehu Dikko as NSC Chairman

Olawale Ajimotokan  in Abuja

Former national coach, Ambassador Fanny Amun, has appealed to elements against the emergence of Shehu Dikko as the Chairman of the National Sports Commission (NSC) to embrace peace and work for the rapid development of sports in the country.

Amun disclosed this at a parley with sports journalists in Abuja yesterday.

He similarly said the decision on the future of Super Eagles Coach, Austin Eguavoen be left to be decided by the Nigeria Football Federation (NFF).

Amun, a former NFF secretary general called aggrieved individuals including Harrison Jalla,  Jarret Tenebe and Rumson Baribote to sheath  their swords and accept President’s Tinubu’s gesture in choosing one of theirs to oversee the affairs of sports in the country for the benefit of all.

One of the grievances of anti

-Dikko elements is that he has a court case and is not qualified to be appointed the NSC Chairman.

“His appointment may not have been expected as a choice but the book keepers led by my very humble self can affirm that Mallam Shehu Dikko remains one of the best hands for the job and his choice has come to stay for the good of the game to turn things around at this auspicious time in the history of Nigeria sports,”

Amun said.

He vowed to reach out to the aggrieved group for rapprochement, saying Nigerian sport is on the receiving end of legal battle of close to two decades.

“It will take courage to intervene pleading with the warring factions to sheath their swords for peace to reign which l have commenced in the past weeks that the sports ministry was scrapped with the appointment of Mallam Shehu Dikko the new sheriff in the sports community as the Chairman National Sports commission.

Ogbomro Grammar School Emerges New Champions of Zenith Bank/Delta Principals’ Cup

A new winner has emerged in the annual Zenith Bank/Delta Principals’ Cup, with Ogbomro Grammar School, Ogbomro, Uvwie, becoming the sixth winner of the tournament. They defeated Umutu Secondary School 2-0 to win the seventh edition of the final played at the Stephen Keshi Stadium, Asaba, Delta State on Thursday.

One goal in each half secured  the 2-0 win for Ogbomro to put paid to the dreams of Umutu Secondary School’s coach, Emeka Odigili, who wanted to win the title for two different schools after leading Umuja Mixed Sec. Sch. Umuaja, Ukwaini, to the 2023 title.

The first edition of the revamped Zenith Bank/Delta Principals’ Cup was won by Mastercare International School, Asaba, followed by Marvel International School, Ughelli in 2018. Obule International School, Sapele was the winner in 2019 before College of Commerce, Warri,

secured the 2020 and 2021 edition of the developmental secondary school tournament.

Speaking at the final, the GMD/ CEO of Zenith Bank PLC, Dr. Adaora Umeoji OON, ably represented by Deputy General Manager, Lucky Ighade, appreciated the Delta State Governor, Hon. Sheriff Oborevwori, for his unwavering support in the state especially in the area of sport.

According to the GMD, the dream of the chairman and founder of Zenith Bank, Jim Ovia, was to inspire African youths to start locally but think globally.

“In this context, Zenith Bank’s contributions to grassroots sports development in primary and secondary schools are both timely and commendable,” the CEO said.

“Legendary Brazilian footballer, Pele, once said, ‘success is not an accident, but hard work, perseverance, and passion for what you do.”

Duro Ikhazuagbe

Nigerian international striker, Victor Osimhen, scored a brace in Galatasaray’s 3-2 defeat of Tottenham Hotspur in their UEFA Europa League in Istanbul last night.

The Napoli loanee in Turkey netted his first Europa League goal this season after 31 minutes of action, before he completed his brace eight minutes later.

Osimhen has now scored six goals in all competitions for the Turkish Lig giants.

The Super Eagle goals came after Galatasaray had taken the lead through Yunus Akgun in the sixth minute and were pecked by by Spur’s William Lankshear 12 minutes later.

after a gift from Tottenham. Bergvall initially dallied on the ball before Radu Dragusin was inexplicably dispossessed, which allowed Dries Mertens to send Osimhen away to poke past Forster.

Osimhen then made it 3-1 when he got in behind Dragusin and steered Mertens’ cross into the bottom corner.

In the second half, even with a man short Spurs pulled a goal back to make this more of a contest after Galatasaray failed to put away several other chances to kill off the match.

The fixture was a thrilling encounter with lots of fireworks.

After the English side tried to cage the Nigerian star forward, Osimhen freed himself to  punish them with two goals in eight minutes.

After Tottenham’s goalkeeper, Fraser Forster had produced a fine low save to thwart Osimhen, he had the ball in the net on the half an hour mark but was flagged for offside.

The Napoli loanee would not be denied and scored in the 32nd minute

An England call up, Dominic Solanke scored Spur’s second goal barely three minutes after he came on as substitute in the 66th minute. More fireworks however failed to yield more dividends for Tottenham.

Osimhen however gave way for Kerem Demirbay in the 80th minute.

Elsewhere, another Super Eagles forward, Cyriel Dessers earned a point for Glasgow Rangers in their away 1-1 draw  with Olympiacos.

Dessers redeemed himself with  a second-half equaliser in the 1-1 Europa League draw in the Georgios Karaiskakis stadium.

Windfall for Edo Queens, Others as CAF to Pay Each Team $150,000 as Participation Fee

Femi Solaja with Agency reports Nigeria’s Edo Queens FC are set to secure at least $150,000 (an eqiuvalent of N250million) for participating in the 2024 CAF Women’s Champions League beginning on November 9 in Morocco.

The Moses Aduku’s troops secured their place in the tournament with a dominant performance at the WAFU B qualifiers, where they clinched a decisive 3-0 victory over Ainonvi FC of Benin Republic in Bouaké, Côte d’Ivoire.

Leading the charge was Emem Essien, who scored in the final and finished as the competition’s top scorer with five goals.

Having secured their tickets to participate in the Women’s tournament, Edo Queens and other seven competing teams will receive a minimum reward under the tournament’s newly boosted prize structure.

This year, CAF has increased the total prize pool by 52%, raising it to USD 2.35 million as part of its commitment to supporting and expanding women’s football across Africa.

If Edo Queens advance in the competition, they stand to earn even more. The prize for the champion is set at USD 600,000, while the runners-up will claim USD 400,000.

The third and fourth-placed teams will receive USD 350,000 and USD 300,000, respectively.

Additionally, third-place group finishers will take home USD 200,000 each, and fourth-place teams in the group stage will receive USD 150,000.

CAF President Dr Patrice Motsepe

Edo Queens FC players and their players on arrival in Morocco yesterday ahead of the kickoff of the CAF Women’s Champions League in that North African country emphasised that growing women’s football on the continent is a priority, with plans to continue increasing the  prize money and invest in youth academies to foster future talent.

The Benin Arsenal Ladies will begin their maiden campaign in Group B against fellow debutantes Central Bank of Ethiopia (CBE) on November 10, 2024, and square up against first-timers, FC Masar of Egypt three days later before tackling title holders Mamelodi Sundowns of South Africa on November 16.

Meanwhile, the  Nigeria Women’s Football League (NWFL) Board has thrown its full weight behind the Nigerian champions, Edo Queens, as they prepare to compete for glory in this year’s CAF Women’s Champions League in Morocco.

In a statement on Thursday, NWFL Chairperson, Nkechi Obi,

expressed her confidence in the team’s ability to represent Nigeria with excellence, stating, “Edo Queens’ journey to this prestigious stage is a testament to their hard work and resilience. As they take on Africa’s best clubs, we are offering our unwavering support and belief in their potential to achieve historic success.”

The NWFL Board has pledged its backing to boost WAFU-B champions Edo Queens in their quest and encourages the players to approach each match with pride, determination, and unity. The Board further reiterated its belief in Edo Queens’ ability to showcase Nigerian football’s strength and talent on the continental stage.

“As you face Africa’s elite, remember you carry the dreams of Nigerian women’s football with

you,” the chairperson stated. “We are proud to stand behind you and are confident you will make Nigeria shine.”

With Rivers Angels (2021) and Bayelsa Queens (2022) as previous Nigerian representatives—Edo Queens now set their sights on history, aiming to become the first Nigerian side to reach the final and capture the coveted title on their first attempt.

The Prize Money for the CAF Women’s Champions League Morocco 2024 is:

GCU Relays Ignite Athletics Rivalry Among Schools

Finally, the annual Government College Ughelli (GCU) Relays is upon us as the D-Day beckons. And for these emerging athletes who will be flying the flags of their respective schools, it’s time to push for the limits, whilst elevating their performances. And to serve as a motivational push towards aiming for higher heights and greater glory will be the pre-event session to be conducted by GCU Relays Ambassador, Olympian Ruks Bazunu.

Further to the quest for the drive for technical perfection at the InterCollegiate Meet is the timely input from Ireland-based and erstwhile GCU Relays Ambassador, Orode Oyiki.

“Commendation to all that have been involved to see to all the success of the GCU Relays 2024,” he said. Adding, Oyiki stressed “I wouldn’t know if we have secured the starting gun and starting blocks. These are connected to the electronic timing device including the photo finish camera. “

Olympian Oyiki would further admonish on the need to capture certain basic aspects of modern day Athletics Meeting, listing the Pre-Event clinic as a precursor.

“Years back I observed that most athletes had no proper spike shoes for the tartan tracks and many cannot use any blocks. It shows that the basics/rudiments of athletics are unknown to many athletes at this level. It will be nice to do a clinic to introduce the athletes to the basics, “ Oyiki, a former National 110m

hurdles champion advised. Holders Federal Government College, Warri will be leading over 30 schools and 500 athletes to the Saturday mega event to be streamed live, courtesy of the offshore support provided by UK-based Ancient Mariner Mr. Lee Foss. Timing devices, electronically driven, have been provided as well courtesy of the prompt approval and release of the Timetronics by the Delta State Sports Commission Director General, Mr Festus Ohwojero.

TRUTH & REASON

Friday, November 8, 2024Price: N400

MISSILE

Israeli Envoy to Iran

“Iran is the backer of Hamas, Hezbollah, Hutus and all the instability in the Middle East. They are pumping millions, billions of dollars, expertise, weapons in order to destabilise the entire region. They know what they are doing. Iran has also made attempt to destabilise Africa and West Africa and they are beginning their action also in Nigeria”- Israeli Ambassador to Nigeria, Michael Freeman, accuses Iran of being behind global terrorism and political unrest.

DELEOYEWALE GUEST COLUMNIST

Professor Fidelis Oditah is Wrong about the EFCC

Professor Fidelis Oditah’s recent interactive discussion on a wide range of issues on Arise News, are quite engaging. As a Senior Advocate of Nigeria, SAN and an international legal mind, his views on national issues cannot be disregarded. Benjamin Disraeli, former Prime Minister of the United Kingdom once said, “with words we govern men”. Thus, Oditah’ s words are important and cannot be dismissed as empty effusion lacking weight or impact.

However, the learned Professor’s submission on what he called the Economic and Financial Crimes Commission, EFCC’s three fundamental problems are, to say the least, prejudicial, unfounded and misleading. First, Oditah stated that “The EFCC is often being used for settling many scores. Some are political scores, some are social scores. So, you could run away from your girlfriend and the girlfriend goes to the EFCC and the EFCC could ask you questions(sic). What has that got to do with economic crimes? That is blatant abuse of power”(sic).

How on earth will this kind of a scenario painted by the learned silk hold water? The simplest argument against this kind of effusion is to challenge Oditah to provide proofs of such banality. We all know that this just an idle talk because the EFCC is a serious- minded law enforcement agency. The only worrisome aspect of such a talk is that it betrays an embarrassing lack of grasp of what the EFCC’s focus is.

This issue of appropriate and proper focusing of the mandate of the EFCC has been a central pivot of the three- pronged agenda of the Executive Chairman of the EFCC, Mr. Ola Olukoyede. In the full glare of the entire world, while addressing members of the National Assembly in October 2023, Olukoyede stated that the focus of every fight against corruption was to stimulate growth in the economy. For more than a year now, the EFCC’s boss has been consistently following this route. The review of the arrest and bail procedures of the EFCC is in line with this. Professor Oditah is probably busy with his works as a King’s Counsel in the United Kingdom and have no time to be abreast of development in the EFCC. Olukoyede is a lawyer of high pedigree and would not allow what the learned counsel called “ blatant abuse of power”.

The second “ fundamental problem of the EFCC”, according to Oditah is that “The EFCC has abandoned its mandate and reduce itself to a debt- collection agency, notwithstanding the numerous court decisions saying the EFCC must stay within the narrow confines of financial and economic crimes. The EFCC has gone out for debt

recovery”. This submission, again, is hollow and vacuous. The EFCC’s Establishment Act does not empower the Commission to collect debt on behalf of anyone. The recovery the EFCC does is taking back proceeds of crime from fraudsters. Asset recovery, all over the world, is a fundamental law enforcement and anti- corruption initiative. As a matter of fact, it is the ground norm of every anticorruption fight. To this end, Olukoyede in just one year, recovered N248,750,049,365.52 (Two Hundred and Forty-Eight Billion, Seven Hundred and Fifty Million, Forty-Nine Thousand, Three Hundred and Sixty-Five Naira, Fifty-Two Kobo).

In foreign currencies, recoveries of the Commission in the one year of Olukoyede’s leadership are: $105,423,190.39 (One Hundred and Five Million, Four Hundred and TwentyThree Thousand, One Hundred and Ninety Dollars, Thirty-Nine Cents); £ 53,133.64 (Fifty-Three Thousand, One Hundred and Thirty-Three Pounds, Sixty-Four Pence; €172,547.10 (One Hundred and Seventy-Two Thousand, Five Hundred and Forty-Seven Euros, Ten Cents) and many others. Going by the quantum of these recoveries, not to talk of real estate recovered all over the country, including shares acquired with proceeds of crime in blue- chip companies, it is simply preposterous to reduce and ridicule asset recoveries to debt recovery. Professor Oditah owes the EFCC and the entire nation unconditional apology in this regard. Just two days ago, a Federal High Court sitting in Lagos granted final forfeitures of over $2million and seven princely properties in choice areas of Lagos to the Federal Government. The assets are proceeds of crime traced to a former governor of Central

Bank of Nigeria, CBN. Do such recoveries fall into the category of debt recovery insinuation of Oditah? President Bola Ahmed Tinubu recently directed that N100billion be channeled to the funding of the Nigerian Education Loan Fund, NELFUND and the Nigerian Consumer Credit Corporation, CreditCorp, respectively from the monetary recoveries of the EFCC. Is the Professor aware of all these? It is evident that bringing down the issue of asset recovery to the ridiculous corridor of debt recovery is deliberate caricature of an important anti- corruption framework of the government. This is an initiative which local, regional and international agencies are commending Olukoyede and the EFCC about. It is to be noted also that the Director of FBI and the DG of National Crime Agency in the UK where he resides have paid cortesty visits to Olukoyede commending him on the feat he has attained in the fight against corruption and financial crimes and to seek more collaboration with the agency in their shared mandate of fighting corruption and financial crimes

The third issue Odikah raised against the EFCC, like the earlier issues, again, lacks any firm ground of substance. Hear him:

“The EFCC itself, a number of officers are more corrupt than those they are chasing. So, you remember what happened to Mr Bawa, Mr Matawalle, when Mr Matawalle finished his tenure as governor of Zamfara state and he said he was invited by Mr Bawa to bring $2million so as not to be investigated. The EFCC itself has become a corrupt organisation which needs to be completely disbanded and a new body set up . The EFCC has the resources. It does not have the ethics. The EFCC majors on minor issues, catching students and showing them as cyber criminals and so it says, it procured 1000 convictions and when you look at them they are people who have defrauded people of 20 or 22 dollars. That’s not the mandate. That’s the periphery. The central mandate is to ensure that the resources which are put in the hands of states are used by the states and that’s where the EFCC”

Going through all these trumped- up claims, it is obvious that Oditah has elected to totally launch unwarranted verbal war against the Commission and its officers. How many officers of the EFCC have been tainted with corruption allegations? Is it acceptable to use the “ sins” of very few elements in a community to paint and taint it as a community of sinners? It should be noted that there is no law enforcement agency in the world that is not vulnerable to corrupt officers. What is important is what the agency is doing to such elements. Olukoyede is known for his no- nonsense approach to ethical issues in the Commission. As a matter of fact, upon assumption of duties, he directed

every officer of the Commission to declare their assets and ensure that verification of assets so declared is established. He went ahead to name the Department of Internal Affairs as Department of Ethics and Integrity. Beyond all these, some erring officers of the Commission have either been shown the way out or facing trial. In recent times, the Commission has had cause to dismiss some officers on allegations of corruption and gross misconduct. The EFCC is self- cleansing and the Commission deserves commendation for this.

It is worrisome that a Professor of the reputation and exposure of Oditah could dismiss the Commission’s onslaught against internet fraudsters as an unserious engagement. The damages this genre of fraudsters are causing the nation is untold. A crime that has a projection of $10.6trillion loss to the whole world in 2025 and Nigeria lost more than $500million in 2022 alone, is what Oditah derisively lampooned the EFCC about. We have cause to be worried that those who ought to know better are either playing the Ostrich or advertising their ignorance of a major malaise confronting the nation. Owing to the threat of cybercrimes to the development of our country, the EFCC has held two national dialogues on it. The recent one held few days ago at the Presidential Villa. The Professor should know that the EFCC mandate is to investigate all financial and economic crimes and no financial crime is small or big to be investigated in order to save the soul of the nation. It should be recalled that in recent times, the EFCC had had cause to prosecute and file charges against four ex- governors and some former ministers who were found culpable by EFCC’s investigation for looting state treasuries. This is just to confirm that the Commission is not scared of taking up largescale fraud’s investigations and prosecution which we shall continue to do

There is no denying the fact that the respected professor goofed in all his comments about the EFCC and his views are not reflective of the realities on ground concerning the anticorruption fight of the government.

On a final note, we enjoin professor Oditah to get himself familiar with the works of the Commission and lend his expertise and rich experience to the nation for a more robust and fully- integrated war against corruption. We also want to advise the fourth estate of the realm not to allow their platforms to be used to cast unfounded aspersions on the good works of the EFCC. The Commission is not averse to meaningful contributions and advise from well- meaning and reform- minded Nigerians to strengthen our processes and procedures as we continue this crusade,

•Dele Oyewale is Head, Media & Publicity of the EFCC.

Professor Oditah