UBA Begins N239.4bn Capital Raise via Rights Issue, Paves Way for Strategic Expansion
November 5, 2024. UBA said the capital raise underscored commitment to strengthening its lending capabilities, enhancing digital
infrastructure, and positioning itself for continued expansion in key markets. In a letter to shareholders, UBA Group Chairman, Tony Elumelu,
emphasised that the capital raise was part of a broader N400 billion equity programme, approved by
Continued on page 5
Okays $2.2bn new borrowing plan, N250bn real estate investment fund Crude oil price pegged at $75 per barrel, exchange rate N1,400 to dollar, and oil production of 2.06million barrels per day
Deji Elumoye in Abuja
The Federal Executive Council (FEC), yesterday approved a N47.9 trillion federal budget estimate for the 2025 fiscal year during its meeting at State House, Abuja.
Briefing newsmen after the FEC meeting held at the Council Chambers and presided by President Bola Tinubu, Minister of Budget and Economic Planning, Atiku Bagudu, explained that the budget approval was part of the Medium Term Expenditure Framework (MTEF) for 20252027, in accordance with the Fiscal Responsibility Act 2007. Bagudu said the executive will put necessary efforts in place to ensure that the 2025 budget estimate was passed
Emmanuel Addeh in Abuja
IMF: Children Born in Nigeria, Other Resource-rich African Nations 25% More Likely to Live in Poverty
Ndubuisi Francis in Abuja
A child born in a resource-rich country (RIC) like Nigeria and other sub-Saharan African countries today is expected to live four years less on average, and is 25 per cent more likely to live in poverty, the International Monetary Fund (IMF) has said.
In a report themed, "Growth in Sub-Saharan Africa is Diverging," the IMF stated that Sub-Saharan Africa is home to nine of the world’s top 20 fastest-growing economies this year.
Such startling statistics, however, rarely feature in discussions of the region’s outlook,
by the National Assembly and signed into law by the president before the end of December.
Bagudu explained that FEC pegged the price of crude oil at $75 per barrel, exchange rate at N1,400 to the dollar, and oil production at 2.06 million barrels per day.
He added that with the growth rate of 3.19 per cent, which came in the second quarter of 2024, the federal government will continue to tackle inflation, strengthen economic resilience, and provide more support for the economy in 2024.
The minister disclosed that the council also reviewed the 2024 budget implementation, and added that this included promising progress in revenue collection and expenditure management, “despite lags in projected targets, the overall trajectory. So it shows that fiscal efforts are on track, these key non-oil streams are performing better than anticipated”.
He said the Nigerian economy had significantly turned in the right direction, achieving the gross positive growth rate in economic stability.
According to Bagudu, "Equally It included parameters for the 2025- 2027 medium term physical framework, which includes an oil price benchmark of $75 per barrel for 2025, oil production of 2.0 6 million barrels a day, as well as an exchange rate of 1,400 Naira to $1, and GDP growth of
shareholders at the bank’s Annual General Meeting in May.
Elumelu stated, “UBA’s Rights Issue aims to raise N239.4 billion, through the issuance of new Ordinary Shares to our shareholders. The primary objective of this Rights Issue is to further strengthen our capacity to take advantage of growth opportunities and sustain our leadership in the banking industry.” He stated that beyond regulatory compliance, the funds will expand the group’s lending capacity, invest in digital infrastructure, support sustainable business practices, and expand the group’s African operations.
Elumelu also highlighted how UBA was driving economic growth across Africa.
He said, “Our historic partnership with the Africa Continental Free Trade Area (AfCFTA) Secretariat, where UBA pledged up to US$6 billion in financing over the next three years to support eligible SMEs across Africa underscores our commitment to fostering economic development.”
Elumelu also stated that the issuance was in compliance with the revised minimum capital requirements for Nigerian commercial banks announced by
it said, noting that instead, headline figures typically emphasise the relatively modest average economic performance.
This disconnect reflects a two-track growth pattern, where a significant part of the region underperforms, it said. According to the IMF, over the past ten years, growth in subSaharan Africa’s resource-intensive countries (RICs)—and especially in fuel exporting economies such as Angola, Chad, and Nigeria—has slowed down sharply, falling far below growth in non-RICs (such as Ethiopia, Rwanda, and Senegal). Indeed, it noted that incomes in RICs have essentially stagnated,
4.6 per cent expected for 2025.
“The federal government budget estimate as the aggregate expenditure is estimated at N47 trillion, and this includes a borrowing of 13. 8 trillion, which is 3.87 per cent of estimated and it includes projections, especially for the first time, provisions of contribution to the development commissions that have been passed by the National Assembly."
The minister also stated that FEC approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Papers (FSP).
Bagudu added that the federal government was working to ensure a January-December budget circle.
The federal government also on Thursday okayed the establishment of a Ministry of Finance Incorporated Real Estate Investment Fund, with a start-off of N250 billion, that will provide low cost, long term mortgages to Nigerians desirous of acquiring houses.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while briefing newsmen, said the fund was the basis for the revival and return of long term mortgage financing to the Nigerian economy.
Edun explained that it would complete or help to fill part of the gaping 22 million units housing deficit, create jobs, stimulate
the Central Bank of Nigeria (CBN) earlier this year.
He said, “UBA has consistently demonstrated growth and resilience, evidenced by the Group’s strong financial performance and recent recognition within the industry. UBA’s progressive dividend policy, which has seen an increase by 14.8 per cent annualised dividend yield has demonstrated the Group’s ability to reward shareholders consistently.
In 2023/2024, UBA won “Bank of the Year” Awards in eight of its subsidiaries - Cameroon, Chad, Ghana, Cote d’Ivoire, Mozambique, Republic of Congo; Sierra Leone; Tanzania, as well as the Regional Award for Africa and in 2024 has won World Best Frontier Markets Bank and Best SME Bank Africa.
“Application for the provisional allotment of the Rights to the new ordinary Shares will be made exclusively through the NGX e-offer portal during the offer period, while existing shareholders may also apply for additional shares above their provisional allotment as described in the Provisional Allotment Letter. Shareholders who are customers of the Bank are also encouraged to access their Rights through UBA’s internet banking and mobile banking channels.”
marking a sharp contrast with the decade leading up to 2014, when RICs experienced rapid growth, in line with the region’s strong overall performance.
"The post–2014 divergence between RICs and non-RICs has been driven largely by the combination of two factors.
First, RICs and especially fuel exporters experienced a dramatic decline in their commodity export prices around 2014–15, as the commodity “super-cycle”—a period of sharply rising commodity prices—came to an end. Since then, the terms-of-trade decline has only been partially reversed.
"Second, and critically, the
economic growth, and pave the way for other investors to participate more in the housing construction industry.
Edun stressed that “long term investors have the opportunity to earn market rates of interest on investment and market returns, market price-based rates of return on investment”.
He added, “When I say low cost, we are talking about low double digit, maybe 11, 12 per cent, maybe even less, depending on market conditions. And that will be achieved by attracting long term savers, life insurance companies, maybe pension funds, within the limits of what is allowed, and other savers.
“Their money will be blended with low cost funding that the government has access to, at one per cent funds that are
impact of the terms-of-trade shock on RICs was exacerbated by preexisting structural vulnerabilities, including a poor business environment, limited human capital, weak governance, and poor management of resource revenues," the report said. It noted that weak governance, systemic corruption, and an unfavorable business climate take a toll on productivity and output, adding that the effects are most striking when commodity prices fall. "Such weaknesses affect both the resource sector itself and prospects for the economy diversifying into other sectors. For instance, the potential for theft
available for 40 years. And by blending the two, depending on what percentage of money you merge with one per cent, with market based interest rates, you will end up with affordable pricing on the mortgages.
“The tenor can be the likes of 20 years and more. It relieves Nigerians, who normally will be faced with almost 30 per cent interest rates.”
FEC also approved fresh external borrowing of $2.2 billion, made up of $1.7 billion and SUKUK financing of $500 billion.
The approval, Edun stated, was to strengthen the country's finances and enhance economic reforms.
According to him, the external borrowing approval, when finalised by the National
of oil production undermines productive efficiency and diverts precious resources from more productive uses.
"Or weak governance can be a central impediment for private sector investment more broadly. Fuel exporters outside the region, with generally stronger governance, have weathered the commodity price slump far better," the report said.
According to the IMF, staff analysis confirms that terms-oftrade shocks have a stronger and longer-lasting impact on growth in countries with weak governance.
"We estimate that for every oneper cent worsening in a country’s
Assembly, will grant Nigeria access to the international capital market for some combination of the Euro bond and SUKUK financing.
The finance minister stated, "The first one was to complete the borrowing programme of the federal government in terms of the external borrowing with the approval of the $2.2 billion financing programme, made up of access to the international capital market for some combination of the Euro bond offer and the Sukuk bond offer, perhaps a Euro bond of about $1.7 billion and Sukuk financing of another $500 million, the actual makeup of the financing, which will be done as soon as the National Assembly has considered it.
The minister added that
REACHING A MILESTONE, FG SAYS IT HAS HIT 1.8M BPD CRUDE
production, 2.5 million bpd was achievable by December.
In its own reaction, Tantita Security Services Nigeria Limited headed by Government Ekpemupolo, also known as Tompolo, lauded the achievement, describing it as a collaborative effort among all the stakeholders.
In his remarks on the announcement, Tompolo through his spokesman, Dr Paul Bebenimibo, said the target of 2 million barrels can be exceeded, noting that it was deploying new technologies against oil theft and vandalism in the Niger Delta.
At an event in Abuja to intimate the press about the landmark, the Nigerian National Petroleum Company Limited (NNPC) announced that the feat was achieved alongside its partners, explaining that a 7.4 billion standard cubic feet per day (bscfd) gas output had also been hit.
Commenting on the development, Lokpobiri stated that if Africa must make progress in terms of harnessing its God-given resources, Nigeria must take the lead.
“Today is perhaps my happiest day since I was appointed as Minister of State Petroleum Resources. Why do I say so? I returned from South Africa a few days ago. And in South Africa this week, the discussion was basically about what Nigeria can do as the leader of the industry on the continent.
“The consensus was that what Nigeria cannot do, Africa cannot do. Today, I'm excited that our very hardworking team led by the Group Chief Executive Officer, Mele Kyari, has been able to deliver on the mandate given to them,” Lokpobiri stated.
After years of underproduction, in June this year, President Bola Tinubu gave the marching order to all the security forces in collaboration with the NNPC as well as local security groups like Tantita to ramp up production in months. The directive now appears to be yielding results.
Lokpobiri added: “ We set up a war room, with a view to ramping up production. And the rest of the world is ramping up production. Only Africa is lagging. But Africa
is looking for Nigeria's leadership. Once Nigeria leads, the rest of the continent will follow.
“That was the consensus in Cape Town. And I was very happy to be there. Chairman of the Board said that he is expecting that by December, 2-3 million bpd. And I'm not going to make any statement as to figures. But I know that you guys can get it done.
“You've done it before. And you can do it even better. I've always contended that during the COVID, we did 2.5 million barrels, with no additional investments, we did that. I believe that that's possible.
“As I said over December, we are expecting a minimum and I repeat, a minimum of 2 million barrels per day . We are still moving steadily towards that 2.5 million barrels, which we have capacity to do,” the minister added.
Lokpobiri further challenged Kyari and the management team to continue to push for 2.5 million bpd, stressing that they have his full support and pointing out that “everybody wants to play towards achieving that 2.5 million barrels per day by the end of this year.”
Also speaking on the development, Kyari congratulated the ‘Production War Room Team’ that anchored the crude oil production recovery process.
“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we have from the President, the Honourable Minister, and the Board,” Kyari explained.
Kyari stated that the NNPC was ready to increase production both in the short term and in the long term, to levels that are acceptable to its shareholders as a company.
According to him, aside the NNPC, other partners have been given specific targets that must be achieved.
“And we have met nearly all the targets that we have set for ourselves. And we have a line of sight of what will happen tomorrow. It is possible
terms of trade, medium-term growth is around ¼ percentage point higher in countries with smaller governance challenges," it said.
The report explained that fiscal policy in RICs, including in subSaharan Africa, is generally far more correlated with economic shocks, intensifying their effects, compared to other countries.
Nigeria had showcased the resilience of its financial market through domestic issuance of dollar bonds, which attracted Nigerian investors. Edun stressed that Nigeria accessing the international capital market was an indication of the country's acceptance and support for President Bola Tinubu's macro-economic programmes. He said, "Being able to access the international capital market is also a sign of the acceptance and the support for the macroeconomic programmes of Mr President and, indeed, his entire administration, as we know that economic programme, the economic recovery and revival programme to turn around the economy, is focused on macroeconomic pillars of market pricing of foreign exchange."
to achieve the higher production.
“And with all the help and support that we have across board, from the Minister to Mr. President to the government security agencies, we have a line of sight of what progress means and will achieve progress”
Kyari added.
Separately, in his intervention, Tantita, which is leading the charge among the local security groups manning Nigeria’s oil assets in the Niger Delta, expressed its elation over the feat.
Its spokesman, Bebenimibo said:
“This milestone, as you know, was achieved in collaboration with the NNPC, the security forces, and of course Tantita, which has been at the forefront of oil pipeline protection in the Niger Delta. We are determined to take it to 2 million barrels per day before the year runs out, as directed by the President of the Republic of Nigeria, working through the NNPC.
“All the needed machinery has been put in place to ensure that the target is achieved. No effort will be spared to ensure that the economy of Nigeria is galvanised.
“This will lead to a boost in government revenue, thereby making more funds available for the President and his team to run the country effectively. I can assure you that we are not going to rest on our oars until the target is achieved and even exceeded.”
Besides, he noted that new technologies were being deployed to ensure the that the theft of Nigeria’s commonwealth is halted.
“It is a mark that we have been working towards this for a while now. From the beginning of this year, we have been saying that, by God's grace, we will get to the 2 million barrels per day production.
“And we have actually put more measures in place. We've acquired more technologies to monitor the facilities, so that there won't be any disruption and production will continue to increase.
“So the 1.8 million barrels per day that it has got to, certainly, by the end of the year, we'll work to get to the 2 million barrels per day. We are working.
“The National Security Adviser (NSA) actually confirmed it yesterday too, that the Niger Delta is very peaceful, things are working out fine there, and it's a result of what we are putting in place that they have brought out this result.
“So we are fine, we are fine with it. We'll continue to work towards this and get to the 2 million barrels per day, and even surpass it,” Ekpemupolo added.
Also, giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the NSA, as well as government and private security agencies.
He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.
He stressed that when the production war room team was inaugurated on the June 25, 2024, production was at 1.430 million bpd, but the team swung into action, culminating into it sustaining the production recovery to 1.7 million bpd in August and hitting the current 1.808 million bpd in November.
“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2 million bpd by the end of the year,” he stated.
Also speaking on the development, Chairman of the NNPC Board of Directors, Chief Pius Akinyelure, who congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.
He charged the company’s management to come up with a cash flow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3 million bpd.
IMF MD, Kristalina Georgieva
L-R: Newly appointed Chief Financial Officer, NNPC Ltd, Mr. Adedapo Segun; General Counsel/Company Secretary, NNPC Ltd, Mr. Chidi Momah and newly appointed Executive Vice President Upstream, Mr. Udobong Ntia during a media briefing to announce the 1.8mbopd crude oil production milestone at the NNPC Towers in Abuja, ... yesterday
Adelabu: FG Taking Action to Boost Power Supply, Azura Advocates $500m Capital Base for Discos
Addeh in Abuja
The Minister of Power, Chief Adebayo Adelabu, yesterday said that the federal government was taking practicable steps to resolve Nigeria’s intractable power supply crisis.
Speaking in Abuja at the 4th edition of the annual workshop organised by the Power Correspondents Association of Nigeria (PCAN), the minister noted that for years, Nigeria has had several
dialogues on how to solve the deficit of electricity nationwide, noting that it was time to end the talk.
Adelabu described the theme of this year’s conference: “Nigerian Power Sector: Ending the Talk, Moving to Action,” as not only timely but crucial for the growth and sustainability of the nation’s energy future.
“For many years, we have had discussions, deliberations, and strategic
dialogues on the challenges facing the power sector. We have heard the calls for reform, the promises of growth, and the visions of a brighter energy future.
“Yet, it is clear that words alone will no longer suffice. We have reached a pivotal moment where the time for action has arrived. Our citizens, industries, and economy can no longer wait for promises; they demand results.
“The government remains fully committed to transforming Nigeria’s power sector through meaningful and actionable reforms. We are focused on ensuring that our policies are not only visionary but also practical, impactful, and sustainable.
“From the ongoing efforts to address infrastructure gaps, enhance power generation, and improve transmission networks, to the vital reforms in distribution
FG Launches Initiative to Localise Nigeria's Humanitarian Response
We're leaving a legacy of real, lasting impact, says Shettima
Deji Elumoye in Abuja
The federal government, yesterday, launched the Humanitarian Supply Chain Management – Partnership for Localisation Project, in an effort to strengthen Nigeria's humanitarian response system.
Vice President Kashim Shettima said the initiative, which aligns with the Nigeria Localisation Framework, sought to empower local actors and leverage local resources to address the country's growing humanitarian needs.
Speaking while launching the initiative in Abuja, Shettima, who was represented by Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hadejia, said climate change, coupled with global economic crises, had deepened the country's complex humanitarian situation.
The vice president announced that
President Bola Tinubu had approved the establishment of a new Disaster Relief Fund.
He said the fund will provide immediate assistance to disaster victims nationwide, complementing the broader localisation framework.
Shettima stated, "Inaction is simply not an option, and the cost of failing to address these crises at their roots will be devastating. "Localisation is not merely about placing local actors at the centre of humanitarian efforts; it is the key to a more inclusive, resilient future for Nigeria."
The new initiative builds on Nigeria's Localisation Framework, which was established in 2019, and aims to put national and local institutions at the forefront of humanitarian decision-making.
The project is implemented by the Office of the Special Assistant
to the President on Special Duties, Emergency and Logistics, in partnership with the Federal Ministry of Budget and Economic Planning, the USA-based Fritz Institute, and other local partners.
The vice president said, "Local communities understand their challenges best, and by empowering them, we provide them with the tools to shape their own futures."
Shettima explained that the project represented a key component of the Tinubu administration's broader strategy, focusing on human capital development and improved humanitarian responses through enhanced health outcomes, education access, and livelihood stability for affected communities.
Earlier, Special Assistant to the President on Special Duties, Emergency and Logistics (Office of The Vice President), Mohammed Ahmed,
highlighted the importance of a collaborative approach to humanitarian aid.
Ahmed said, "There is a need for a whole-of-government and whole-ofsociety approach. Government must be participatory and inclusive, ensuring that all voices from every segment of society are heard. Everyone is impacted by issues like climate change and conflict."
He stated that the project would support Nigeria's localisation framework, and create a platform to advance the agenda.
"We have a lot of work to do to meet Nigeria’s targets on this," he added.
Fritz Institute’s Project Director, Mitsuko Mizushima, said the initiative was focused on local engagement, pointing out that this project "is designed to give local people a seat at the table".
Tinubu Appoints New DGs for BPE, NSC, NHIT
Names Daniel Bwala media adviser CELEBRATING 1.8MILLION BPD CRUDE OIL PRODUCTION MILESTONE.. .
Deji Elumoye
President Bola Tinubu has approved the appointment of three Nigerians as directors-general of various agencies and one special adviser on Media and Public Communications.
The new appointees, according to a release issued on Thursday by Adviser to the President on Information and Strategy, Bayo Onanuga, include Mr. Olawale Olopade, Director-General, National
Sports Commission; Dr. Abisoye Fagade, Director-General, National Institute for Hospitality and Tourism; Dr. Adebowale Adedokun, Director-General, Bureau of Public Procurement and Daniel Bwala, Special Adviser, Media and Public Communications (State House).
Olopade, the new DirectorGeneral of the National Sports Commission, a sports administrator with many years of experience in
the sector, served as commissioner of youth and sports in Ogun state and was chairman of the local organising committee of the 2024 National Sports Festival.
The new Director-General of the National Institute for Hospitality and Tourism, Dr. Abisoye Fagade is a marketing communication professional and is founder and managing director of Sodium Brand Solutions.
Adedokun, the new helmsman
of the Bureau of Public Procurement, was the director of Research/Training and Strategic Planning at the bureau before his appointment.
The Special Adviser on Public Communications and Media, Mr. Daniel Bwala is a lawyer and notable public affairs analyst.
The President enjoined the newly appointed officers to discharge their duties with dedication, patriotism, and excellence.
and the full implementation of the electricity market, we are resolute in our mission to improve the power supply for every Nigerian,” Adelabu, who was represented by the Director, Renewables & Rural Access in the ministry, Sunday Owolabi, said.
In his remarks, the keynote speaker, Managing Director and Chief Executive of Azura-Edo IPP, Mr Edu Okeke, advocated a capital base of at least $500 million for Distribution Companies (Discos) in Nigeria.
“To enable meaningful progress, Discos must be adequately capitalised. Unfortunately, most Discos have negative equity, leaving them with little to no financial stake. This
situation must change.
“Ideally, no Disco should operate without at least $250 million in shareholder funds. Just as the Central Bank of Nigeria (CBN) has raised capital requirements for banks to ensure their stability and capacity to serve, the Nigerian Electricity Regulatory Commission (NERC) should mandate similar capitalisation standards for Discos.
“Many Discos also carry a heavy burden of debt, accumulated over time through a mix of operational challenges and systemic issues. To truly address this problem, the government needs to come clean and take a decisive step.
FBN Holdings Shareholders Approve N14.4bn Dividend Payout, Okay Oyedeji as New GMD
Kayode Tokede
The shareholders of FBN Holdings yesterday unanimously approved a total of N14.4 billion as dividend for the financial year ended Dec. 31, 2023.
They gave the approval at the company's 12th Annual General Meeting which was conducted virtually.
The approved dividend translated to 40k per share. At the Annual General Meeting, Dr. Alimi AbdulRazaq, representing the Chairman of FBN Holdings, Mr. Femi Otedola, regrettably unable to attend, sought the approval of the shareholders for the appointment of Mr. Adebowale Oyedeji as the incoming Group Managing Director.
Oyedeji, a seasoned professional with a proven track record in the financial sector succeeds Mr. Nnamdi Okonkwo at the conclusion of his tenure.
The transition in leadership marks a significant milestone for FBN Holdings as the Board of Directors aims to ensure continuity and drive sustainable growth for the organisation.
Oyedeji's wealth of experience and strategic acumen position him as a fitting candidate to steer the company towards achieving its long-term objectives while upholding its commitment to delivering value to shareholders.
Abdul-Razaq said the decision to appoint Oyedeji reflects the
board's confidence in his leadership capabilities and vision for the future of FBN Holdings.
In addition to the current N150 billion right issues, the company sought shareholder's approval for an additional N350 billion at the AGM.
Abdul-Razaq said: "It is important to note that these funds will be allocated carefully and strategically to support the bank in achieving its objectives and fulfilling its obligations to its stakeholders.
"The prudent use of these combined funds will enable the bank to strengthen its financial position, enhance its operational capabilities, and better serve its customers and the community at large.
"This significant capital injection reflects the company's commitment to sustainable growth and value creation, while also ensuring compliance with regulatory requirements and industry best practices.
"As we move forward with this proposal, we remain dedicated to transparent communication, effective governance, and responsible decisionmaking to secure the long-term prosperity and success of the firm."
During the meeting, the outgoing Group Managing Director, Okonkwo, delivered an insightful address regarding the current trajectory of the company, emphasising the positive momentum within the firm. He highlighted a remarkable 134 per cent surge in gross earnings over the nine-month period.
Emmanuel
in Abuja
AT FEC MEETING...
Komolafe-led African Petroleum Regulators’ Forum
Seeks Cooperation among Region's Oil Producers
The African Petroleum Regulatory Forum (AFRIPERF), chaired by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has sought deeper cooperation among Africa’s oil producers.
Speaking at its second meeting during the week, Komolafe emphasised the need for unity and cooperation among African nations to enhance the continent's petroleum industry.
He commended the attendees for their active participation and highlighted the benefits of the APRIPERF platform, noting its role in fostering relationships among African nations to create a unified approach to petroleum regulation that can attract investment and bolster regional economic growth.
Komolafe outlined key priorities for AFRIPERF, including building capacity sustainably, harmonising regulatory frameworks for consistency and enabling member countries to effectively share expertise and best practices.
The meeting, a statement by
the head, Public Affairs and Corporate Communication, NUPRC , Olaide Akinola said, was a follow-up to the forum's inauguration on July 1, 2024, at the International Conference Centre in Garki, Abuja.
The forum aims to strengthen regional petroleum governance by fostering collaboration, cooperation and coordination among member regulators. Its objectives include harmonising petroleum regulations and standards, enhancing regulatory capacity through training as well as promoting dialogue with industry stakeholders and international organisations.
The forum seeks to address regional challenges, facilitate knowledge sharing, encourage technology transfer, and promote best practices.
Additionally, it advocates for member interests on international platforms. The forum also seeks to leverage the collective strengths of regulators to secure sustainable energy resources for development, promote investment in African petroleum exploration, ensure transparency and sound regulation, and advance
FG to Complete Digitisation of 774 LG Headquarters by 2027
Oghenevwede Ohwovoriole in Abuja
The federal government has disclosed that digitalisation of all the 774 local government headquarters in Nigeria would be completed by 2027.
This will be executed through the Ministry of Communications, Innovations and Digital Economy and other relevant agencies such as Galaxy Backbone (GBB), Nigerian Communication Satellite Limited (NigComSat) and Universal Service Provision Fund (USPF).
The Minister of Communications, Innovations and Digital Economy, Dr. Bosun Tijani stated this at a stakeholders retreat on project 774 connectivity in Abuja, Thursday.
Tijani said the government has a target of 2027 to fully digitalise all the remaining local government headquarters in the country.
"If you're talking about durations as to when we're going to reach all the 774 local government areas, the goal is that by 2027, we've spread that out in the blueprint
that was put out," he said.
Tijani said that one of the goals of the project was to foster inclusive development and access to digital public infrastructure in government offices located all over Nigeria, including the most remote areas of the country that may have been previously underserved or unserved.
He also said that the ministry would provide affordable and reliable internet access and resources required to deliver efficient public services through strategic partnerships and the deployment of cutting-edge technology.
Tijani said that the role of the LGAs in delivering public services in Nigeria includes healthcare, education, social welfare, infrastructure development and waste management, among others.
The benefits connecting local government secretariats in Nigeria enhance access to information and services, he said, adding that "some of the benefits empower local entrepreneurs and businesses."
ethical practices in petroleum exploitation.
During the meeting, African petroleum regulators reaffirmed their commitment to collaboration, harmonisation of regulations and sustainable growth within Africa's petroleum sector.
Also speaking at the meeting, Mr. Egbert Fabille, the Chief Executive of Ghana's Petroleum Commission, underscored the importance of institutionalising the forum across the continent, describing it as a vital step toward achieving a unified
and progressive petroleum sector in Africa.
Similarly, Mohammed Dukuly, a representative of the Liberian Petroleum Regulatory Authority, welcomed the APRIPERF initiative and encouraged member states to take ownership of their regulatory environments to maximise national resources for greater profitability.
At the conclusion of the meeting, several action items were agreed upon, including the adoption of an official logo for the forum, the statement said.
“Additionally, the AFRIPERF
charter was reviewed and is set to be adopted at the next meeting. This review sparked a rich exchange of perspectives among the member nations.
“Members also discussed extensively on strengthening collaborative efforts among member countries, including organising a pan-African webinar on regulatory trends and investing in harmonised training programmes.
“The collective resolutions of the APRIPERF are expected to pave the way for a more robust and resilient African
petroleum sector, equipping the continent to tackle current and emerging challenges in the energy industry,” the statement added.
The virtual meeting was attended by representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the NUPRC, along with representatives from various regulators across Africa, including Nigeria, Ghana, The Gambia, Mozambique, Tanzania, Uganda, Sierra Leone, Liberia, Senegal, and Angola.
Access Bank UK to Acquire Majority Stake in AfrAsia Bank to Bolster Regional Expansion
Nume Ekeghe
Access Holdings Plc has announced that its UK-based banking subsidiary, Access Bank UK Limited, has signed a binding agreement to acquire a majority equity stake in AfrAsia Bank Limited, Mauritius’ thirdlargest bank by total assets.
Access Holdings, in a statement signed by the Company Secretary, Sunday Ekwochi, said Mauritius, a pivotal financial hub contributing 13.4 per cent to the country’s GDP, provided Access UK with a strategic gateway to scale its offerings
in the high-growth personal and corporate banking segments.
The acquisition will allow Access Bank to leverage Mauritius as a trade finance hub and enhance its role in facilitating cross-border transactions across Africa and beyond.
The statement further said the acquisition marked a significant expansion move for Access UK and reinforced Access Holdings’ strategic ambitions in the international banking landscape.
For the fiscal year ending June 30, 2024, AfrAsia Bank reported over $5.7 billion in
total assets and a net profit after tax of $152.4 million, reflecting its strong financial performance and regional influence.
Commenting on the acquisition, Managing Director/ CEO of Access Bank Plc and CEO of the Banking Group, Roosevelt Ogbonna, said, “This acquisition marks a pivotal moment in our African growth strategy, reinforcing our position as a leading Pan-African financial institution.
“Mauritius offers immense potential as an international financial hub, and through AfrAsia Bank, we are excited to unlock new opportunities to
drive trade, support businesses, and foster economic inclusion across the region as we continue our mission to be the World’s Most Respected African Bank.” Managing Director of Access Bank UK, Jamie Simmonds, added, “With a strong balance sheet and a well-established brand in Mauritius, AfrAsia Bank provides us with a sustainable platform to scale and achieve long-term profitability.
“The deal aligns with our strategy to diversify and futureproof our earnings; and offer bespoke solutions enabling our clients to access global markets with ease.”
Senator Decries Deteriorating Condition of NIFOR
Adibe Emenyonu in Benin City
The Senator representing Edo South Senatorial District in the National Assembly, Sen. Neda Imasuen, has frowned at the deteriorating condition of Nigerian Institute of Oil Palm Research (NIFOR).
Imasuen, who spoke during an assessment visit to NIFOR in Benin, described the institute as a “shadow of its former self.”
He said that his visit was aimed at identifying the challenges facing the research institute and fashioning out solutions for its revitalisation.
While comparing the current state of the institute with what it used to be several years ago, the senator said: “It is disheartening to witness the dilapidation of
facilities that once thrived.
“As another budget cycle approaches, I am here to understand the institute’s challenges, to advocate for necessary support.
“Driving into NIFOR today, I saw that it has become a shadow of itself when compared to the memories I had of the institute several years ago.
“It is a shame and so sad to see how dilapidated the facilities in this institute have become.
“I have listened to you (the Executive Director) and I want to urge you to put all these challenges you have listed in writing.
“I will speak with my colleagues to see how we can revamp the institute. From what I have seen, if given the adequate resources, the institute will do well,” he said.
Earlier in his welcome address, the Executive Director, Dr. Isona Gold, said that the institute was established in 1939, with a mandate to research into oil palm, coconut palm, date palm and raphia palm, among others.
Gold told the senator that the current funding to the institute was grossly inadequate for research, leading to its dilapidated state.
Speaking on the challenges being faced by the institute, the executive director said that it lacked roads, water, laboratories, power, housing and personnel, adding that the research institute, have genetically improved the oil palm, coconut and date palms to achieve high yield hectares per year.
Gold urged the senate to grant
the request for oil palm outreach centres and experimental stations to bring nurseries closer to farmers, adding that transportation was currently a constraint to off-taking of seedlings. If given adequate funding, he said that the institute was targeting 14 million supply of planting materials to small-holder farmers in 2025.
The executive director appealed to stakeholders and farmers to come to NIFOR and purchase genuine sprouted seeds for planting.
According to him, NIFOR has genetically improved oil palm from a gestation period of 10 years to two years and five months and oil palm yield from one ton to four tonnes per hectare.
Emmanuel Addeh in Abuja
R-L: President Bola Ahmed Tinubu; Vice President, Kashim Shettima; Permanent Secretary, Cabinet Affairs Office, Office of the Secretary to the Government of the Federation, Dr Emanso Umobong Okop; Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, and Chief of Staff to the President, Femi Gbajabiamila, during the Federal Executive Council Meeting, held at the Presidential Villa Abuja... yesterday
National Essay Competition (NEC) 2024 Shortlist
Next Stage: Regional test to select 20 Finalists
The National Essay Competition is UBA Foundation's annual education initiative aimed at promoting the reading culture and encouraging healthy and intellectual competition amongst secondary school students.
Congratulations to all our participants for making it this far. We wish you the very best in the next stage.
Abdulsalam Jumai Olajumoke Ogo Oluwa Community Model Secondary School, Ogun State
Anthony Gilbert Jonathan Galaxy International School, Niger State Mustapha Omotayo Abdulmajeed Vineyard Comprehensive College, Lagos
Essien, Greatness Emediong Nigerian Christian Institute, Akwa Ibom
Kejivwa Mary Parmata Kingdom Breed Schools, Gombe
Oforji Geraldino Chiagozie Brave Bereton Montessori Secondary School, Port Harcourt
Ibhafidon Oghenemaro Alexander Command Day Secondary School Ojo, Lagos, Lagos State
Ayodabo Oluwalademi Elizabeth Lagos State Senior Model College Badore
Taofeeq Sumayyah Deen Foundation Schools, Delta State
Housing Minister: With Projected 70% Urban Population, FG Set to Revamp Nigerian Cities
Says new urban agenda to promote public health, tackle climate change
Emmanuel Addeh in Abuja
Minister of Housing and Urban Development, Ahmed Dangiwa, yesterday, said the National Urban Development Policy (NUDP), currently in the works, will make Nigerian cities sustainable and resilient.
Delivering the keynote address at the 13th meeting of the National Council on Lands, Housing, and Urban Development, in Gombe, Dangiwa said rapid urbanisation will see the country's urban population rise to 70 per cent by 2050.
With a plan to make Nigerian cities “15-minute cities”, Dangiwa, according to a statement by his Special Assistant on Media, Mark Chieshe, stated that this will be made effective by prioritising planning, innovation and sustained policies.
He added that the policy was
currently awaiting approval by the Federal Executive Council (FEC), stressing that it is necessary for Nigeria's sustainable future as it can promote public health, mitigate climate change, and create a safe ecosystem for all.
The minister said, "The NUDP's vision is clear: to transform Nigeria’s cities into well-functioning, prosperous, resilient, secure, and liveable spaces for all. Achieving this vision demands a ‘business unusual' approach, one that replaces 'urban pessimism' with 'urban optimism.'’
According to him, it means embracing high-density urban development over sprawl, safeguarding agricultural land and resources, and adopting integrated, evidence-based urban policies.
He stated, "The NUDP also promotes a ‘healthy
cities' concept, integrating environmental health with secure, resilient urban spaces. This involves essential services like waste management, water, sanitation, and local public health systems.”
He described the “15-minute city” model as one where essential services were within walking distance and offered accessible, self-sufficient neighbourhoods that promoted health and connectivity.
Dangiwa emphasised that the need for an urban policy was long overdue considering the fast pace at which the country's urban population was increasing.
He called for an annual national urban forum, which he said was part of the resolutions reached at the recent World Urban Forum in Egypt.
Dangiwa stated, "We must grasp the scale of our urban growth and the profound
challenges it brings. Nigeria’s urban population is expanding rapidly, driven by an annual growth rate of 4.1 per cent.
“From just 9.4 per cent in 1950, our urban population now exceeds 52 per cent, with projections indicating a rise to 70 per cent by 2050. By then, Nigeria will likely be the world’s third most populous country, with over 400 million people."
According to him, Nigeria has eight cities with a population above 1 million people each, and another 81 cities each with a population ranging from 100,000 to one million, yet with 58.8 per cent of the urban dwellers lived in slum conditions.
He added that the goal of the policy was to provide a framework to guide long-term, sustainable urban growth, addressing not only housing and infrastructure needs but also creating the foundation for
WHO Predicts Spike in Diabetes Cases in Africa
Says affected persons may rise to 54 million in 2045
Onyebuchi Ezigbo in Abuja
The World Health Organisation (WHO) has said without urgent interventions, the number of people living with diabetes in Africa may rise to 54 million by 2045, the highest projected increase globally.
WHO said in the African Region alone, more than 24 million adults were currently living with diabetes, half of whom remain undiagnosed.
The organisation further said untreated diabetes could lead to complications, such as heart disease, stroke, nerve damage, kidney failure, lower-limb amputation, and eye disease that could result in blindness.
In her message at this year's World Diabetes Day, WHO Regional Director for Africa, Dr. Matshidiso Rebecca Moeti, urged individuals, communities, governments, health workers, policymakers and civil society organisations to join hands and act now to reduce diabetes.
Moeti stated, "Without urgent interventions, predictions are that the number of people living with diabetes in the African Region will rise to 54 million by 2045, the
highest projected increase globally.
"This poses a significant dual health and economic burden, including catastrophic spending by individuals to control their disease.
“Compounding the challenge is that Africa has the lowest investment rate in diabetes care worldwide, at only one percent of the region’s health expenditure.”
Against the background of rising diabetes prevalence in Africa, complicated by multiple drivers, including urbanisation, unhealthy diets, and physical inactivity, the theme of the World Diabetes Day 2024 emphasised the imperative of a collaborative approach to the “silent killer”.
World Diabetes Day is marked annually by the international community on 14 November, with this year’s theme, “Breaking Barriers, Bridging Gaps,” underlining WHO’s commitment to reducing risk, and ensuring that everyone diagnosed with diabetes had access to equitable, comprehensive, affordable and quality treatment and care.
Diabetes is a chronic lifelong
disease that leads to uncontrolled blood sugar levels because the body can no longer produce or use the insulin it produces efficiently.
Moeti said health systems were traditionally designed to deal with acute, infectious diseases, without sufficient attention paid to chronic diseases, like diabetes.
She stated that managing diabetes required a sustained effort to balance physical health activity, healthy diet, and mental well-being.
Moeti added that WHO in the African Region was committed to holistic solutions, including proper nutrition, access to requisite essential medicines, and mental health support.
She said comprehensive prevention strategies were crucial to address risk factors, including obesity, poor diet and physical activity, combined with community engagement to ensure good support systems and reduced stigma.
Moeti also said communities could play their role by creating supportive environments that promoted healthy living, reduced stigma, and provided access to affordable diabetes care and
education.
She said, "For governments, we commit our full support to your efforts to implement policies that enhance access to essential medicines, strengthen primary health care systems, and foreground investment in diabetes prevention and care.
"Strengthening diabetes control in the African region demands that we address key gaps, including myths and misconceptions about diabetes, fragile primary health care systems and insufficient capacity and training of health care workers.
"In an important step forward at the Seventy-fourth session of the WHO Regional Committee for Africa in August this year, African Member States endorsed WHO’s Framework for the Implementation of the Global Diabetes Compact (GDC) in Africa.
"Focused specifically on the challenge of integrating diabetes care into broader health systems in a multi-sectoral approach, it provides a roadmap for countries to strengthen diabetes prevention, diagnosis and care, especially at primary health care level."
economically vibrant, climateresilient, and inclusive cities.
Explaining the nexus between effective urban planning, and public health and climate change, Dangiwa said proper planning will ensure better sanitation, disease control and containment, with quicker access to health facilities.
He stressed, "NUDP also prioritises climate responsiveness. Climate change poses a severe threat, with impacts like drought, flooding, and extreme weather intensifying. Without adaptation, climate change could cost Nigeria between 6 per cent and
30 per cent of its Gross Domestic Product (GDP) by 2050.
“Therefore, urban planning is a frontline defence in building climate resilience and economic security."
The minister called on the federal, state, and local governments to embark on urgent collective actions towards implementation of the policy when it comes on stream.
He stated that while massive housing construction and new cities development were urgent priorities at this time, they must be done alongside effective urban planning.
EU, SDN Seek End to Digital Gender Gap in Niger Delta
Olusegun Samuel in Yenagoa
The European Union (EU) in collaboration with the Stakeholder Democracy Network (SDN), has emphasized the need to dismantle gender barriers and advocated necessary policy reforms to advance women's roles in the digital landscape in the Niger Delta.
This is one of the focal points raised during a One-Day Roundtable engagement organized by SDN, a nongovernmental organization with the theme, "Reducing the Digital Gender Gap in the Niger Delta," held in Yenagoa, the capital of Bayelsa State.
In his opening remarks, the Country Chair represented by the Finance Manager of SDN, Dr. Afolabi Ogunmola, emphasized the organization's commitment to increasing women's involvement in technology and enhancing digital literacy, as he also highlighted the importance of supporting women-led startups in the Niger Delta to foster a more inclusive and equitable tech industry.
Dr. Ogunmola, said digital gap had remained stark and pervasive, limiting opportunities for women and women-owned businesses.
He said it's time Nigerians recognize the fact that technology is not merely a tool; but a catalyst for transformation, reshape industries, empower communities, and drive sustainable development.
He said: “In our rapidly evolving digital landscape, acquiring digital skills has transcended the realm of advantage; it has become a necessity,
particularly for women aspiring to advance in the workplace and the economy.
"At the forefront of efforts to address these disparities is the Stakeholder Democracy Network (SDN). Our vision is clear: we seek a peaceful, prosperous, and pollution-free Niger Delta. Our mission is to support those affected by the extractive industries and weak governance.
"We stand alongside our citizens, providing expert and innovative solutions to foster sustainable and inclusive development.
“Today, I am proud to discuss our project, "Reducing the Digital Gender Gap in the Niger Delta," funded by the European Union. This initiative is not just about training; it is about empowerment.
“We aim to equip women with tailored digital skills that will not only enhance their employability but also establish vital connections with job providers in the tech sector.
"Furthermore, we are committed to supporting women-owned businesses through comprehensive digital training, enabling them to thrive in an increasingly competitive marketplace.
“Our project has several key objectives: Increasing Awareness: We must heighten awareness of the existing digital gender divide and actively address the cultural and social norms that impose barriers on women. By empowering women with both digital and soft skills, we can reshape narratives and foster an environment where women-led businesses can flourish.”
L-R: Aigboje Aig-Imoukhuede, Chairman of Access Holdings PLC and President of the France-Nigeria Business Council; Laurent Favier, Consul General of France in Lagos; Zahrah Mustapha Audu, Technical Adviser to the President on Foreign Direct Investment; Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade and Investment; Roosevelt Ogbonna, Managing Director/Chief Executive Director, Access Bank Plc;
Florent Mangin, Head of the Regional Economic Department French Treasury, during the French Week 2024 Business Forum at the Access Bank headquarters in Lagos…Tuesday
WORLD URBAN FORUM...
Industrialisation: RMRDC Pursues Legislation to Stop Export of
The Director General/Chief Executive Officer of the Raw Material Research and Development Council (RMRDC), Professor Nnanyelugo Martins Ike-Muonso, has announced that the council is pursuing a legal framework that should make the attainment of a minimum of 30 per cent value addition a compulsory requirement for exportation of raw materials from Nigeria.
Ike-Muonso made this declaration yesterday in Lagos during a “One-Day Interactive Session with Members of Manufacturers Association of Nigeria (MAN)” that was meant to strengthen the working relationship between the council and MAN.
He said: “Today, I am pleased to announce several groundbreaking initiatives that will position Nigeria
Raw Materials Without 30% Value Addition
as a leader in industrial innovation and self-reliance.
“First, we are making significant strides in policy reform by sponsoring a transformative bill in the National Assembly.
“This legislation will mandate a minimum of 30 per cent value addition to all raw materials before export.
“This bold move will protect our natural resources and catalyse domestic processing capabilities, creating jobs and fostering industrial growth.
“This bill has already gone through the first reading, and we expect it to pass through the next reading, hopefully by next week.”
Ike-Muonso also declared that the revival of the Multi-disciplinary Task Force (MTF) for the industrial sector represented a watershed moment in the council’s collective effort to transform Nigeria's
FG Says Support for Advertising Reforms Will Drive Media Investments
Olawale Ajimotokan in Abuja
The federal government has urged advertising practitioners to use their platforms to support the reforms being implemented by President Tinubu to ensure greater transparency and encourage more investments in media and communication.
Minister of Information and National Orientation, Mohammed Idris affirmed this yesterday at the 2024 National Advertising Conference held in Abuja.
He stated that advertising practitioners support for these reforms will enable a more conducive environment for the advertising sector, noting that by aligning with this vision, advertisers will be contributing to a vibrant ecosystem that benefits both the industry and the country.
Idris said that through creative and strategic messaging, advertisers have the power to not only reach audiences but to inspire confidence in the progress being made.
The minister urged practitioners to see the conference as an opportunity to share ideas, build partnerships, and lay the foundation for a resilient and forward-looking advertising industry that can ensure that Nigeria remains at the forefront of
an evolving landscape, a beacon of creativity, cultural richness, and technological progress.
He described the conference as a gathering that brings together the very best minds and most innovative players in the Nigerian advertising landscape, saying the theme for this year’s conference, “Navigating the Shifts: Technology, Culture and New Business Models,” could not be more timely or relevant.
“As we meet here in 2024, the industry is evolving unprecedentedly. Technology, the rise of new business models, and shifts in cultural norms are reshaping how we engage, persuade, and inspire audiences.
This new era of advertising calls for adaptability, creativity, and a clear-eyed view of the opportunities and challenges that lie ahead.
“Firstly, let’s acknowledge the profound impact of technology on our industry. Digitalization has revolutionized advertising, allowing for personalization, real-time engagement, and greater accountability through analytics.
“Social media, artificial intelligence, and big data have created channels for brands to reach audiences in more meaningful and relevant ways than ever before,” Idris said.
manufacturing landscape.
The MTF is a committee made up of the chairmen and secretaries of 10 industrial sectoral groups of MAN, experts and RMRDC that would provide adequate information of the needs of the Nigerian industrial sector, especially in the area of raw material requirements.
He said: “The MTF's comprehensive survey and data collection across the 10 sectoral groups of MAN provides the crucial foundation for implementing the 30 per cent value addition requirement on raw materials before export.
“The MTF will identify areas requiring value addition capability enhancement and provides actionable insights for manufacturers to upgrade their processing capabilities through its detailed mapping of industrial capabilities, processing facilities, and technological gaps.
“The task force's findings help pinpoint which sectors require targeted support, technological intervention, or capacity building to achieve the 30 per cent threshold.
“Furthermore, by documenting
current value-addition practices and potential across different industries, the MTF will enable RMRDC to develop sector-specific strategies and support mechanisms to help manufacturers meet this new export requirement while enhancing their competitiveness in global markets.
“This systematic approach ensures that the 30 per cent value addition policy is not just an aspiration but an achievable target backed by data-driven insights and practical implementation strategies.”
He also announced that the RMRDC has signed contracts to establish 17 advanced research laboratories nationwide.
“These facilities will be equipped with cutting-edge technology for advanced raw material research, testing, and analysis, enabling us to maintain international quality standards while developing local alternatives to imported materials.
“Complementing these laboratories, we are also establishing two advanced machine development workshops, strengthening our capacity for indigenous technology development,” he said.
Ike-Muonso added that the council is also expanding its collaboration with tertiary institutions and academic centres of excellence.
“This partnership will bridge the gap between research and industry, ensuring that our academic outputs directly address the practical needs of manufacturers,” he said.
The Director General of MAN, Mr. Segun Ajayi-Kadir, in his welcome remarks, said that this interactive session is remarkable for three reasons.
“First, it is a homecoming for the director general of RMRDC who has worked with and supported MAN, and by extension manufacturers in different capacities.
“The second stems from the fact that it is a first of its kind that the leadership of RMRDC is making the process of developing its strategic plan and initiatives inclusive.
“The third being that it is another opportunity to deepen existing relationship/collaboration between MAN and RMRDC, as it holds enormous potential for scaling up productivity, raw materials
development and tilization in Nigeria,” Ajayi-Kadir said. He also declared that MAN is committed to initiatives that would drive the sustainable growth and competitiveness of the manufacturing sector.
“We are resolute in our corporate goal of facilitating the creation of a conducive manufacturing environment in Nigeria.
“We do this through continuous engagements and advocacy aimed at finding lasting solutions to the challenges confronting manufacturers, while exploring opportunities that promote manufacturing resilience and support the sectoral growth.
“Clearly, the focus of this interactive session aligns perfectly with these goals, as it provides an invaluable platform for direct engagement with the RMRDC leadership on improving local sourcing of raw materials for manufacturers.
“As you already know, the RMRDC is at the forefront of promoting raw materials development and utilization in Nigeria,” Ajayi-Kadir said.
Leasing Association: Nigerian Economy ‘Walking on its Knees’
Says 27.25% MPR implies borrowing cost will rise to 40%
Dike Onwuamaeze
Chairman of Equipment Leasing Association of Nigeria (ELAN), Mrs. Elizabeth Ehigiamusoe, says the Nigerian economy has been walking on its knees, as the consequences of floating the naira and removing petrol subsidy brought hardship, with astronomical increase in the cost of goods and services.
Ehigiamusoe made the declaration yesterday during the 22nd Annual National Lease Conference organised by ELAN, with the theme, “Equipment Leasing: The Creative Financing Alternative in Today’s Reality.”
She said the theme was intended to highlight the developmental attributes and imperatives of equipment leasing in efforts to stimulate production and create wealth.
Ehigiamusoe stated, “The Nigerian
economy has been walking on its knees for some time now, as major indicators showed adverse performance, against the background of global economic uncertainties, geopolitical tensions, and the continued impact of the COVID-19 pandemic as well as increasing domestic macroeconomic vulnerability.
“The twin cardinal policies of the federal government: the subsidy removal and floating of the Naira, hailed as bold reforms in taking the economy out of the woods, have equally brought considerable hardship in the land, with astronomical increases in the cost of goods and services.”
She explained, “In the financial space, the Central Bank of Nigeria’s (CBN) continued increase in the Monetary Policy Rate (MPR), which aims to curb inflation, seems to be achieving limited positive results as
the price indices remain high.
“The recent increase of the MPR to 27.25 per cent implies that the cost of borrowing will increase to around 40 per cent thus, further constraining businesses and consumer spending.”
Ehigiamusoe advised the government to be proactive and adopt value-added initiatives.
She said, “Essentially, leasing can play a major role in facilitating the various developmental initiatives, ranging from access to capital for individuals and businesses, food security; poverty eradication, inclusive growth, and job creation to supporting initiatives in transportation including that of the CNG vehicles.
“In Nigeria, since its inception leasing has been supporting economic development.
“Outstanding leases in Nigeria in 2023 amounted to N4.19 trillion as against N3.25 trillion in 2022
representing 28.7 per cent growth and contributed more than N20.4 trillion to capital formation in the economy.
“Leasing remains a compelling alternative as we navigate the complexities of our challenging economy, offering efficient and flexible financing solutions to meet the diverse needs of the user.
“This is a very important tool for businesses, especially the Micro Small, and Medium Scale Enterprises (MSMEs), empowering them to acquire the assets they need to grow and thrive amid increasing costs.”
Ehigiamusoe also advocated that Nigeria should borrow a leaf from Kenya, where the government had been using leasing for official government transportation to deliver efficient and economically viable transport solutions across various governmental departments.
Dike Onuamaeze
L-R: Commissioner for Physical Planning & Urban Development in Lagos State, Dr. Abiodun Olumide; Professor of Planning and Heritage, University of Liverpool, Prof. Taibat Lawanson; Deputy Director, Urban Big Data Centre, Prof. Joao Porto D’ Albuquerque, Town Planner, Lagos State Government, Mr. Olubunmi Alugbin; Commissioner for Housing in Lagos State, Hon. Moruf Akinderu-Fatai; Director, Trillium Real Estate Partners, Ms. Suzanne Oluwole and Founder, Africa International Housing Show, Mr. Festus Adebayo at the 2024 World Urban Forum convened by the United Nations Human Settlements Programme (UN-Habitat) in Cairo, Egypt … Saturday
POLITICS
Acting Group Politics Edito r DEJI ELUMOYE
Email: deji.elumoye @thisdaylive.com
08033025611 SMS ONLY
Issues Around Current Fuel Pricing in Nigeria
While Nigerians continue to bear the brunt of removal of fuel subsidy which has led to high inflation, the federal government believes the eventual gain of the policy would far outweigh the temporary pain. Adedayo Akinwale reports.
It will be an understatement to say Nigerians are suffering at the moment. Surviving in Nigeria at the moment is now the survival of the fittest. In other words, these are not the best of times for Nigerians. Stealing, robbing and other social vices are on the increase as Nigerians struggle to survive at this trying moment.
While most Nigerians agreed that fuel subsidy had to go, the attendant consequences which has made life unbearable for the majority of Nigerians has forced many people to demand the return of fuel subsidy, which have over the years benefited and enlarged the coasts of prosperity of a few elites.
If truth be told, the effect of subsidy removal on Nigerians is far worse than what the government and everyone envisaged.
With the oil and gas sector fully deregulated, Nigerians may heave any sigh of relief very soon as market forces will continue to determine the prices of oil. While this itself is not a bad thing, the fast rate at which the nation’s currency has continued to lose value has made it unbearable. It is a known fact that the full deregulation of the sector will drive competition, innovation and create employment along the value chain. It will boost investment in downstream infrastructure that have stagnated and remained in comatose for over four decades.
Incidentally, the Nigerian National Petroleum Company Limited (NNPCL) which is now set up to make profit under the Petroleum Industry Act (PIA) can’t also afford to sell below its cost price.
Initially, most Nigerians were of the view that the coming on board of Dangote Refinery would be a game changer and Nigerians can indeed enjoy a relatively cheaper fuel, but in reality, Dangote cannot sell below its cost price and marketers, including NNPC that bought from Dangote Refinery can’t also sell below their cost price.
With this reality, it is now a known fact that local refining would not lead to cheaper fuel. However, the economic benefits of local refining, especially from Dangote Refinery and other local refiners, is much more than just cheap petrol.
For instance, refining petroleum products locally will help industrialisation, create thousands of jobs, expand downstream infrastructure, stabilise forex and make local currency gain strength which will ultimately reduce inflation and bring down cost of goods and services. Additionally, Nigeria earns forex when it becomes a net exporter of petroleum products which is the ultimate goal.
In other words, global market forces determine fuel prices in Nigeria. Despite local refining at Dangote and the soon-to-be-licensed NNPC Port Harcourt Phase I (currently undergoing final testing of completely and partially rehabilitated sections), the cost of crude oil and other production factors remain aligned with global benchmarks.
Against this background, removing subsidies means that the prices Nigerians pay at the pump reflect the actual cost of refining, logistics, and distribution. This shift ensures long-term sustainability for the sector after decades of inefficiency and subsidy abuse.
Beyond these immediate benefits, the full deregulation and local refining also open the door to increased investment in the downstream sector, which will create thousands of jobs and catalyse industrialisation.
It will be recalled that the federal government had argued over the times that the subsidy regime, which cost Nigeria billions of dollars and drained resources from critical infrastructure projects, is no longer sustainable.
As such, removing it has allowed the market to operate freely. Prices may initially rise, but global oil prices, exchange rates, and local refining costs influence them. If crude oil prices fall or refining becomes more efficient, pump prices will adjust accordingly. Removing subsidies also curtails fuel smuggling, which had been rampant under the subsidised regime.
Aside from that, the removal of subsidies opens up opportunities for local refineries to thrive. As investments increase in the refining sector, the downstream market will become
more competitive, attracting investors and creating jobs that Nigerians need. Initially, the independent marketers were at war with the NNPC for being the sole off-takers from Dangote Refinery. But at the moment, and in line with the tenets of deregulation, independent marketers are free to purchase
fuel directly from Dangote Refinery and other local or international refineries. This ensures a more competitive market and broader distribution, helping to stabilise prices and improve access across the country. NNPCL no longer holds a monopoly over fuel procurement.
In addition, independent retail stations and NNPCL are free to buy PMS (from wherever it is available and more affordable) and sell it to Nigerians within a margin as stated in the PIA and regulated by the NMDPRA and other relevant agencies. It is a willing buyer-willing seller market now.
Following the reforms under the PIA, NNPCL is no longer a regulator of fuel prices. It now operates as a commercial entity and a limited liability company, competing with other players in various aspects of the petroleum and fuel market – upstream, midstream, and downstream. Moreso, NNPCL purchases fuel based on agreed commercial terms from local or international refiners or suppliers and distributes it like other marketers to its retail stations or others who want to buy from them. The price of petrol, whether from NNPCL or any independent marketer, is decided by market forces, as well as the cost of products they receive from local refineries or global suppliers. For instance, the latest batches of products obtained from the private local refinery in Nigeria were sold to NNPCL by the refiners at around N998 per litre. Nevertheless, the majority of Nigerians have not seen the benefits of removing fuel subsidies as inflation and high cost of living remain the order of the day. Incidentally, NNPCL said removing subsidies will free up billions of dollars that can be channelled into critical sectors like healthcare, education, infrastructure, and job creation. This, it said, will reduce the government’s borrowing needs, stabilise the Naira and create a more competitive market for domestic refining. It will also incentivise local refineries to expand their capacity, reducing the dependence on imported fuel and increasing Nigeria’s energy security.
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Unpacking the 2024 Joint Annual Health Review Meeting
Fredrick Nwabufo in this piece writes about far reaching decisions taken by stakeholders during a three-day 2024 Joint Annual Health Review Meeting held recently in Abuja.
“For the first time, we have fulfilled two major commitments: conducting this Joint Annual Review and presenting the State of Health Report for Nigeria. These reports symbolise our dedication to transparency, accountability, and progress. Governments have all contributed to this effort. Their dedication and resilience are at the heart of our healthcare system, and we continue to rely on their commitment to carry forward these foundational legacies. As we build on this legacy, we are reminded that our mission to deliver an efficient, equitable, and quality health system for all Nigerians would not be possible without the efforts of those who came before us. We stand on the shoulders of these giants in the health sector, learning from their experiences and carrying forward their vision for a healthier Nigeria,’’ – Professor Muhammad Ali Pate.
This extract from the keynote speech of the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate at the Sector-Wide Joint Annual Health Review meeting foregrounds the historic spectrum of the event.
The Sector-Wide Joint Annual Health Review (JAR) meeting was held in Abuja from 6 to 8 November 2024. It was the first of its kind and provided a robust platform for the rigorous interrogation of challenges, evaluation of achievements, and the mapping of strategies and priorities for the health sector.
In the course of the three-day event, groundbreaking initiatives, such as the Maternal and Newborn Mortality Reduction Innovation Initiative (MAMII), which offers free cesarean sections to all eligible
Nigerian women meeting the established criteria, and the Nigeria Climate Change and Health Vulnerability and Adaptation (V&A) Assessment Report, were launched.
According to the Ministry of Health and Social Welfare, the V&A Report provides essential insight into the impact of climate change on health across Nigeria. By identifying climate-related health risks, the Report supports the creation of a resilient health system capable of addressing the challenges posed by a changing environment, underscoring the government’s commitment to sustainable health security and the well-being of Nigerians.
‘’Another key outcome was the establishment of a dedicated Expert Working Group (EWG) focused on strengthening our national health data systems. The EWG will implement regular health mini-surveys, bridging the current five-year gap in data collection
from the National Demographic and Health Survey (NDHS). Through timely and reliable data, the group will empower us to track progress, address emerging health threats, and make informed, data-driven decisions essential to the sector’s success,’’ the Ministry said.
The Maternal Mortality Reduction Innovation Initiative (MAMII) has spurred interest and commendation since its launch. The reason is obvious. It is a transformative programme -- innovative by design and novel in scale.
Here are a few highlights of the initiative, which was launched on the second day of the meeting.
The Maternal Mortality Reduction Innovation Initiative (MAMII) is a strategic action plan to reduce maternal mortality through intensified intervention suites along the supply and demand components in priority 172 local government areas across the country.
Here, demand implies the desire and need for healthcare services related to pregnancy, childbirth, and postpartum care. It encompasses several dimensions, which include quality care, awareness and education, etc, while supply entails the availability and accessibility of healthcare services, resources, and products necessary for the care of pregnant women, new mothers, and their infants.
-Fredrick Nwabufo is Senior Special Assistant to the President on Public Engagement
NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
We at Laudo Nigeria limited thank the Honorable Minister of State for Petroleum Resources, Senator Heineken Lokpobiri for paying us an official visit and tour of the FPSO Tamara Nanaye (Front puffin) belonging to Century Energy Group on Friday 11th of October, 2024.
We thank Century Energy Group for giving us the opportunity to render our services to them, and being their partners in progress. we are happy to work with them in their bid to ramp up the nation’s crude oil production as an act of national service and in line with Mr. President’s “RENEWED HOPE” agenda.
We also thank the Nigerian Ports Authority (NPA) for their continuous support as always. We are most grateful to our landlord Modandola group (the owners of Standard Flour Mills & Obelawo) for the role they played in the success of the occasion and always giving us the support every time we call on them.
We are happy for the opportunity to contribute our little quota to the nation building, the maritime, oil and gas sectors.
Signed, Management, Laudo Nigeria Limited
Kemi Badenoch’s hurting words deserve long gazes, reckons OKELLO-OCULI
BRUTALLY RUDE NAIPAUL AND KEMI
V.S. Naipaul was at Makerere Campus of the University of East Africa as a ‘’Writer-In-Residence’’ when he met in his residence the Editorial Board of ‘’THE MAKEREREAN’’: a newspaper published by undergraduates.
He was the one who asked for the meeting.
Not a word of welcome, but suddenly his English wife emerged with chairs in both hands. She too worked with a busy silence.
Naipaul hit me hard as the ‘’News Editor’’, accusing me of assuming that my readers were my mother: patient in reading long-winded drivel. ‘’If you are reporting that a political leader had choked on a piece of meat, why must I hear chirpings by birds from lush leaves of trees, while a clear blue sky looked on choking ?’’, he barked at me.
It was rhetorical because he quickly invited all of us to turn to the ‘’Editorial’’. He reduced the page-long piece to the only six-word sentence in the text. We agreed that since the paper was funded with funds meant for the welfare of students, Medical Students would have fruitfully used the rest of the page.
He was furious that racist British lecturers praised banalities we had written. ‘’Writing in not a display of ignorance and illiteracy. Writing is a VERY SERIglared at us.
Naipaul’s works are accused of racism and contempt for Caribbean, African and Indian peoples. Franz Fanon’s classic work ‘’THE WRETCHED OF THE EARTH’’, is similar to Naipaul’s rage. A man of India’s Diaspora in Trinidad met Fanon who was from Africans shipped to Martinique. They looked at their ancestral lands with Caribbean rage.
Naipaul studied at Oxford University in England. Franz Fanon studied for a Psychiatry degree in Paris. Both admired the genius, creativity and inventiveness of Europe; inventing ships that enabled them to enslave victim races.
Both at Oxford and Paris, they met the brightest of the children of this colonial ‘’bourgeoisie’’ and heard them being told to conquer the world and exploit ‘’under-developed’’ countries. Their own countries had leaders who yearned to consume; not drenched with sweat from undertaking industrial inventions.
Fanon defected from the French army the liberation of Algeria. Naipaul stayed in England. He wrote to LIBERATE Africa and India and, perhaps the Caribbean too. They knew that power lay in inventing machines for industrialization of economies: wishing the same for their own leaders.
Naipaul travelled to India. Graduates from Oxford holding top administrative insights about challenges facing India. He was disgusted by those who wished to live like British elites while hanging on to primitive cultural and religious beliefs. They lacked the secular admiration
for, and pursuit of the potential power in industrial productivity. Their impotence infuriated him.
Naipaul used his rare power in descripdefecating: just like the cows that Hindu of India drank Cow Urine; preferring it to water. In Pakistan he met the same non-progressive devotion to religion.
In his book ‘’A TURN IN THE SOUTH’’, Naipaul saw poverty in Southern States of USA. The mournful tone in HILLBILLY Music was a cry against poverty. It made racism barbaric across the region. The book was ignored by America’s book reviewers.
They expected his praise; instead the rude Indian exposed their ‘’Underdevelopment’’. By the time Donald Trump won the 2024 elections, there was a hint that he read the book. Vladimir Putin, as a Soviet Spy in America, must have also studied it.
Kemi Badenoch MP, and newly elected leader of Britain’s Conservative Party, has been bashed for labeling Nigeria as ‘’living hell’’; where she traveled ‘’over one mile to get drinking water’’, etc. India’s elites had been equally furious with Naipaul.
It was not clear if it was his rudeness or Prime Minister Indira Gandhi’s castration of millions of India’s men that forced her scientists to wake up and give India nuclear weapons; and gain leadership in manufacturing medical drugs for the global market.
Kemi has talked at a time when a leading politician that roused the imagination of youth condemned Nigerians for being consumers of what other economies produce.
An African proverb says that a boil that is preventing a child from sleeping is not cured with kisses and sweet songs but a hard squeeze. The child screams but soon goes into a deep sleep.
Fanon had to join the Algerian war. Naipaul had to travel on a bicycle, by bus and trains, for a total of 90 days, to meet India’s complex vastness for his second book. Kemi’s rudeness deserves long gazes and sharpness.
JOSHUA J. OMOJUWA argues that Nigerians have no sense of time
AIRPORT PROTOCOL: IS NIGERIA REALLY OPEN FOR BUSINESS?
When you think of Nigeria and its challenges, you may believe that they are because the country is poor. That is also true. However, it does not tell the whole story. If you have ever heard the saying, Time is Money, when you reflect on it, you will come to appreciate why we are such a poor country. Without prejudice to the other causative factors of our collective reality, we are poor because we burn time. Every facet of the Nigerian experience is designed to waste time. We burn more money wasting time in this country than there is enough money to be stolen.
If you assume that Nigeria is open for business, your assumption is more based on the expectation that a country ought to, by design, be open for openness. In practical terms, Nigeria is not open for business. This is not hard to tell. I have more than enough data to make the points I will be making. If you as a reader have ever been to any country where you had to be on multiple queues to have your passport stamped on entering the country, please do share.
Every country that is open for business is designing systems at the border to ensure a seamless entry and exit process for visitors. Some have done away with exit passport protocols altogether, whilst designing systems where you need not even interact with any officials, except when necessary. Ours is the only country I know where you join a queue to have your passport examined by one agency of government, then you join another queue to have that passport stamped by another agency. If as a Nigerian who has traveled around the world you aren’t irritated by this, chances are that you do not care, or you stopped caring. If as a public official you see this and you don’t acknowledge how inefficient and abnormal it is, you are in the wrong job. You do not really care about your country.
The inefficiency does not end there. You have officials of multiple agencies waiting to run through your luggage, as a matter of some protocol, as though the scanners the luggage just passed through aren’t working. Just because we have little appreciation for privacy, we believe that it is normal for officials to have people open their luggage and have it searched through. Not because they found something on the scanner or because of some suspicion, but as a matter of some obsolete protocol.
How? Why do countries have signs for those who have things to declare and those who have nothing to declare? Why is ours the only country I know where everyone is forced to go through a process that suggests everyone must have something to declare? How can we look at all of these, before one mentions other things, and then believe that our country is open for business? Open for business how? Business for who?
We took certain security procedures, reimagined them, and then deployed them without even wondering why we do them. Take the endless traffic across the country, especially in the evening,
when police officers mount check points primarily to obtain money from motorists. You end up burning time in traffic that is several times the amount of money it would have cost you to hand them a note so they’d just get out of your way. We do not build with love. If we did, we would build in such a way that the user will spend the littlest of time to get through our processes and platforms. Our agencies do not exist to make our lives better, at least, that is not a priority if at all it is an objective.
We may not know it, but it does come at a cost. Time is money. Every money that has been made in the history of our species was made with time. There is no money that was made, is being made and will be made that was not made with time as a central factor of its earning process. The richest countries in the world move the most number of citizens, goods and services around in the shortest possible time. The poorest countries have no sense of time. The former continue to look for even more efficient ways to ensure the smooth flow of commerce, the latter is not even aware of the factor of time on their economic process.
Is Nigeria open for business? Does traveling the world and looking for investors mean anything if those investors arrive at your airport and the only thing they really would love to do is go back to wherever they are coming from? I am a Nigerian, I was born here, I live here and I am irritated by our exit and entry protocols at our airports. They just should never be. Why is no senior official bothered about this? Why do we do things a certain way for several decades and never return to ask why we still do them and whether we can do them better and or differently?
What is in a passport that requires four people to look through it over one complete visit? How is that an efficient use of our security resources?
I have been through Nigerian International Airports in Abuja and Lagos about 40 times this year, on virtually all those occasions, I am asked what’s my phone number and where is my address. Other times, you get to fill a small form and still get to be asked those questions. I often wonder, what is the point of a biometric passport containing my NIN if this officer has to ask me about the data that is meant to be on my passport, and they still have to go through the hassle of typing the information as I share? What really is the point if someone else is going to be asking the same question next week and typing it into these computers that clearly have no storage capacity? We are not open for business. Really.
Omojuwa is chief strategist, Alpha Reach/BGX Publishing
Prof Oculi writes from Abuja
Editor, Editorial Page PETER ISHAKA
Email peter.ishaka@thisdaylive.com
ONDO STATE GUBERNATORIAL ELECTION
The choice of the electorate should prevail
Although the build-up to tomorrow’s gubernatorial election in Ondo State has not been as nasty as that of Edo State held three months ago, the stakes are equally high even when the character of the contest
parties on the ballot, but it is basically a two-horse race between two candidates who are quite famil-
Progressives Congress (APC) candidate, Lucky Aiyedatiwa was deputy governor to the late Governor Rotimi Akeredola whose second term tenure
was Akeredolu’s depu-
But the competition is intense with the campaigns laced with harsh rhetoric, hateful speech-
Meanwhile, since an approach to politics has over the years provided the incentive and motivation for power seekers to believe that all is fair and acceptable in electoral politics, the success or failure of Ondo polls will depend largely on the capacity of the security agencies that must remain neutral throughout the entire
and men to stay above the fray by providing a lev-
ordinarily be easy to conduct are now marred by
pare and get its act together by ensuring that all logistical problems like late arrival of ballot papers
and voting materials to polling centres are not re-missioner, Oluwatoyin Babalola, has dismissedany preferred candidate for the election,” she said
won’t be any bias, the election will be free, fair and
While INEC and the security agencies should be diligent in their responsibilities, the onus is still on politicians in the state to give peace a chance
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 H I S D AY N E W S PA P E R S L I M I T E D
EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA
GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU
DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE
DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
Letters to the Editor
litical parties and their candidates have signed a ceremony in Akure, the state capital, was organPeace Committee, headed by former Head of State,
accord, you should commit to its implementation and ensure your supporters at all levels comply,”
Mahmood Yakubu, who added that the commission had taken measures to address election day challenges, especially the perennial challenge of be accomplished by boat in the two riverine local combination of trucks, four-wheel vehicles and motorcycles in respect of the mainland areas of the
diligent in their responsibilities, the onus is still on the end, the choice of who governs Ondo State for the next four years is that of the residents of theognise the importance of holding a peaceful and credible election and above all to respect the choice
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.
WHY NIGERIA SHOULD EMBRACE ARTIFICIAL INTELLIGENCE
could position itself as a leader in tech innovation within Africa, at-
economy, improve public services, and make the country a hub for
cient medical professionals to limited infrastructure, especially in supporting decision-making, and even enabling remote patient diseases early and accurately, while telemedicine solutions, pow-
scape, improving the quality and reach of medical services across
detect patterns that might indicate fraudulent activities or corrupstreamline government services, reduce bureaucratic red tape, and make public services more accessible, fostering trust in govern-
enforcement by analyzing large amounts of data to identify crime hotspots, predict criminal behavior, and even streamline investi-
Countries like China, the United States, and the European
as precision farming, crop monitoring, and predictive analytics to can help farmers make informed decisions, improving crop yields
peace and security, which is crucial for economic stability and citFatima Mohammed Bukar, Mass Communication Department, Borno State University, Maiduguri
Again,
Chinedu Eze
Aviation experts are worried that Nigeria has barely benefitted from the Open Sky and multilateral agreements it signed with many countries, which enabled airlines to operate into Nigeria, blaming the situation on the failure of the Nigerian government to adopt reciprocal policies before going into those deals.
From the foreign airlines revenues trapped in Nigeria, which were liquidated by the Tinubu administration earlier in the year, it is indicative that international airlines generate over $4 billion annually
from Nigeria, but Nigerian carriers earn less than one per cent of that sum in their international operations.
This is the view of aviation experts, who said Nigeria is an open market for international operators where they earn one of the highest revenues per passenger.
According to the US Department of State, the US-Nigeria Air Transport Agreement, which has been provisionally applied since 2000, entered into force on May 13, 2024.
This bilateral agreement establishes a modern civil aviation relationship with Nigeria consistent with US Open Skies international aviation policy and with commitments to high standards
of aviation safety and security. The agreement includes provisions that allow for unrestricted capacity and frequency of services, open route rights, a liberal charter regime, and open code-sharing opportunities.
“This agreement with Nigeria is a step forward in liberalizing the international civil aviation sector in Africa and further expands our strong economic and commercial partnership, promotes peopleto-people ties, and creates new opportunities for airlines, travel companies, and customers. With this agreement, air carriers can provide more affordable, convenient, and efficient air services to travelers and
shippers, which in turn promotes tourism and commerce,” US Department of State wrote on its website.
Nigerian airlines were supposed to reciprocate by flying to US destinations; just as US Delta Air Lines and United Airlines fly to Nigeria. Airlines from the two countries are free to have a code-share, which Delta and Virgin Nigeria Airways had before the later went under. But since 2017, no Nigerian carrier has operated schedule commercial flight to US, which led the US Federal Aviation Administration to suspend Nigeria’s Category 1 Safety Status that enables
Nigerian carriers to fly to US.
Many foreign airlines operate multiple destinations in Nigeria, which include Qatar, British Airways, which operate to Lagos and Abuja, Ethiopian Airlines, Turkish Airlines, Rwand Air, Egypt Air and others.
So far, Nigeria has not gained much from the Open Skies agreement it had with US, since Arik Air, which operated Lagos-New York flight service was stopped in 2017 by the Asset Management Corporation of Nigeria (AMCON), which took over the management of the airline under receivership in 2017. Out of 21 airlines that operate international flights from Nigeria, Air Peace is the
only indigenous carrier that operates international flight service beyond the sub-region and in 2023, out of over 3 million passengers airlifted to international destinations, Air Peace operated 1, 358 flights and moved 154, 285 passengers.
Experts say that Nigeria airlines are no major players in operating Nigerian international routes; so, open skiesdeals and multilateral deals will not favour Nigeria; unless the federal government becomes intentional in empowering local carriers beyond giving them destination approvals.
In what could be described as a major boost to the Nigerian maritime sector and international trade, the management of Lekki Port LFTZ Enterprise Limited (LPLEL), Lekki Freeport Terminal, and the Lagos Free Zone have launched the COSCO, ONE (Ocean Network Express), and ZIM alliance services at Lekki Deep Sea Port. The launch of the services was signaled by the arrival of the E A Centaurus at Lekki Deep Sea Port recently. The E A Centaurus, with an overall length of 277m and a container handling capacity of 7,000 TEU, is also the largest
COSCO vessel to call Nigeria. It docked at the port.
The Chief Executive Officer of Lekki Freeport Terminal, Christophe Cassang, explained that the launch of the service marks a crucial milestone in the terminal’s development and capacity expansion. He added that the launch of the service demonstrates the company’s commitment to becoming a leading maritime hub in West Africa.
“Through the strategic partnership with global shipping leaders such as COSCO, ONE, and ZIM, we are strengthening our position on the international stage and opening new opportunities for
trade and industry in Nigeria and the region. Lekki Freeport Terminal is run by a well-trained workforce, passionate about meeting challenges of the future, and is equipped with the most advanced technology and state-of-the-art infrastructure designed to meet the growing needs of the shipping lines and of our customers,” said Cassang.
In his remarks during the ceremony, the Managing Director of Lekki Port, Du Ruogang, described the launch of the new shipping line services as a true testament to the company’s commitment to Nigeria’s maritime future. Ruogang noted that the berthing of the E A Centaurus marked the first of bi-weekly calls
to Lekki Deep Sea Port by COSCO, ONE, and ZIM shipping lines.
He described the launch of the COSCO, ONE, and ZIM shipping lines as a symbol of the company’s unwavering dedication to positioning Lekki Port as a transformative force in the Nigerian maritime Industry.
“After 18 months of commencement of commercial operations and continued efforts, we are proud to welcome COSCO, ONE, and ZIM shipping lines to Lekki Port. With the bi-weekly calls of the consortium, we are realizing our vision of driving significant cargo volumes and further positioning Lekki Port to enhance the Nigerian maritime sector and improve business
efficiency across the country. The achievement is not the end but rather the beginning,” he said.
In her statement, the Chief Executive Officer of Lagos Free Zone, Adesuwa Ladoja, described the launch of COSCO, ONE, and ZIM shipping lines services at Lekki Port as a momentous occasion and significant achievement not only for Lekki Port and Lekki Freeport Terminal but also for Lagos Free Zone as it is bound to attract more foreign direct investment (FDI) to the zone.
“From one shipping line, we now have four shipping lines calling at the Lekki Deep Sea Port; it is significant because we now have more options
that allow more customers access to the state-of-the-art facilities at the Lekki Port. It also allows the growth of enterprises in the Lagos Free Zone and, in fact, the entire Lekki economic axis. The companies can bring their raw materials through any of the four shipping lines and move them straight into the factories for production. They can also export finished goods to other parts of Africa and, indeed, the world. This is the economic rejuvenation we are all looking
Eromosele Abiodun
NDLEA Intercepts Tr amadol Worth N9bn at Lekki Seaport
Stories by Chinedu Eze
The National Drug Law Enforcement Agency (NDLEA) has said that it intercepted 749 cartons of tramadol worth N9 billion and weighing about 31 tons at the new Lekki Deep Sea Port in Lagos State.
This was disclosed by the Area Commander, NDLEA Lekki Deep Sea Port Special Area Command and former spokesman of the agency, Jonah Achema, who said the agency officials upon a tip-off on October 11, 2024 and November 5, 2024, discovered containers loaded with 389 and 360 cartons of tramadol respectively,
weighing a total of 31 tons.
Achema told THISDAY that on October 11, 2024, a 40 feet container from Karachi, Pakistan was brought down at the port for thorough examination and the container was stockpiled with hundreds of cartons of assorted illicit drugs.
On that operation, NDLEA recovered 389 cartons of 225 milligrams of tramadol, which, he explained, was more than 100 percent above the permissible threshold of tramadol allowed in the market.
Also, on November 5, 2024, another 40 feet container of tramadol was intercepted where
360 cartons were recovered and this time, the tablets were in 250 milligrams which is very much higher than the permissible threshold.
Achema noted that the two drug importations followed similar pattern, as the drugs were concealed in brown cartons while each carton is wrapped with a gray and black sack bags hauled into the two by forty containers via vessels with the same Karachi, Pakistan origin.
He said the containers bear false declarations of building materials and auto-parts, respectively, adding that the drugs were destined for the Nigeria illicit drug market.
ECOWAS Transport Ministers to Slash Air Travel Taxes by 25%
Transport Ministers from ECOWAS member states have approved a regional strategy to make air travel more affordable across West Africa.
This will become effective from January 1, 2026, and it is expected that the initiative would remove taxes on air transport and reduce aviation charges by 25 per cent.
Experts said the landmark move would aim to lower travel costs, drive economic growth, and strengthen regional integration, significantly impacting the region’s aviation industry and enhancing ease of movement for people and goods across ECOWAS states. According to the ECOWAS
Communications Directorate, transport ministers convened in Lomé to address West Africa’s high air travel costs, which currently include fees, taxes, and charges making up nearly 50% of total ticket prices.
Statement issued at the end of the meeting stated that the ministers discussed “concrete strategies and common policies to lower air travel costs,” and outlined plans to harmonize aviation charges, taxes, and fees through a regional Supplementary Act, aligning with International Civil Aviation Organization (ICAO) standards. Also, the ministers adopted a regional regulation establishing common standards
and security measures for aviation.
The reforms will be implemented by all ECOWAS countries before January 1, 2026 and member states are tasked with preparing necessary fiscal adjustments and national provisions to support the transition.
However, despite the huge taxes, governments are reluctant to modernise airports and travel infrastructure, hence the low development of air transport in most parts of Africa.
WoldeMaria said airlines wwre charged as much as $2000 on over fliers in a region where the airspace is supposed to be open for member state airlines.
SITA, IPS Launch New Intelligent Passenger Solutions
SITA, the global leader in air transport technology, has announced the formal integration of IPS Intelligent Passenger Solutions into its SITA Airports portfolio.
The move further positions SITA as the market leader in airport technology and innovation.
Under its new name, ‘IPS a SITA company’ delivers a strengthened range of intelligent passenger solutions like selfservice bag drop systems, kiosks, touchless scanners and printers, and associated technologies. IPS a SITA company now sits alongside airport operations, passenger processing and baggage systems in a new gold standard for the Aviation Technology Industry (ATI) and passengers alike.
Group Business Editor
Eromosele Abiodun
Deputy Business Editor
Chinedu Eze
Comms/e-Business Editor
Emma Okonji
Asst. Editor, Energy
Emmanuel Addeh
Asst. Editor, Money Market
Nume Ekeghe
Correspondents
KayodeTokede(CapitalMarkets)
James Emejo (Finance)
Ebere Nwoji (Insurance)
Reporter Peter Uzoho (Energy)
SITA completed regulatory formalities and legal procedures to acquire IPS in July and, now combined, is supporting an unprecedented acceleration of global aviation industry digitalization, streamlining checkin, baggage handling, security, and airport operation processes alike. Travelers can expect to see reduced wait times, smoother journeys, and a new era of personalized and easy to use digital services.
SVP of Airports at SITA, Nathalie Altwegg, said: “Airports worldwide need to adopt technologies that can remove unnecessary bottlenecks at pinch points like check-in, security and
embarkation. The addition of IPS a SITA company combines the best of our market-leading SITA and IPS products and expertise to deliver seamless travel experiences.”
CEO of IPS a SITA company Dr. Georg Oschmann, said: “Together, we are setting a new standard in automated passenger handling for the aviation industry. By connecting our expertise, we are positioned to deliver even greater value to airlines and airports worldwide. Our integration enhances our ability to streamline the passenger journey and drive innovation that meets the evolving needs of the industry.”
Wema Bank Emerge Best SME & Digital Innovator at Global Retail Banking Awards
Wema Bank has been awarded Best Small and Medium Enterprise (SME) Bank in Nigeria and Excellence in Digital Innovation at the 2024 Global Retail Banking Innovation Awards.
These awards underscore the bank’s commitment to empowering businesses and delivering transformative digital solutions that cater to evolving customer needs.
According to a statement by the financial institution, Wema Bank’s Best SME Bank in Nigeria award highlights its exceptional support for SMEs, while the Excellence in Digital Innovation award recognises the bank’s success in pioneering digital experiences that redefine convenience and accessibility.
Commenting on the awards, MD/ CEO Wema Bank, Moruf Oseni expressed pride in the recognition.
He said: “Receiving these awards is a testament to Wema Bank’s dedication to innovation
AIR WATCH
As FAAN Improves Airport Safety with
Modern Facilities, Training
and our unwavering support for Nigerian SMEs. We are committed to delivering world-class banking solutions that empower our customers. These recognitions inspire us to keep leading the way in digital transformation, helping Nigerian businesses thrive in a competitive world.
“Through initiatives like accessible SME loans and tailored training programmes, Wema Bank strengthens the backbone of Nigeria’s economy by providing SMEs with essential resources to grow and compete effectively.
“These efforts affirm Wema Bank’s role as a leader in SME support, enabling businesses to contribute meaningfully to national development.
“On the digital innovation front, Wema Bank has transformed the banking experience through ALAT, Africa’s first fully digital bank, bringing seamless banking solutions to the fingertips of Nigerians.
Chinedu Eze
In order to maintain continuous safety at nation’s airports, the Federal Airports Authority of Nigeria (FAAN) has introduced core facilities across airports, including the training of agency’s personnel and officers in other agencies whose roles are relevant in ensuring the safety of flight operations.
In aviation, airport security serves as the first line of defence against potential threats and malicious activities that could compromise air travel safety. By implementing stringent safety and security measures, airports aim to identify, deter, and mitigate risks before they can pose danger to passengers and crew members.
Nigeria has maintained good record of air safety and it is incumbent on aviation agencies such as FAAN to continue to reinforce and improve safety and security at the airports by ensuring that airport infrastructure like the runway, airport markings, lighting and other important facilities are provided.
Also, continuous human development is deemed very important in the improvement of safety at airports and recently, FAAN disclosed that it has trained about 3, 219 personnel and empowered them with modern skills to improve their efficiency on safety management.
The Managing Director of FAAN, Mrs. Olubunmi Kuku, who made this known, stated that under her leadership in the last 11 months, she has trained the aforementioned number constituting of FAAN staff and that of other aviation agencies that play critical roles in maintaining air safety and the period expended on the training accumulated to 1, 765 hours.
THISDAY gathered from FAAN’s Safety Services Training Unit that safety courses undertaken by these personnel include Airside Operations and Safety Compliance Training, the International Civil Aviation Organization (ICAO) Global Reporting Format (GRF), Aerodrome General Safety Awareness Validation Course, ICAO Aerodrome General Safety Awareness (AGSA) Course, Emergency Protocols, Crisis Management, and Safety Procedures, Abridged Airside Operations and Safety Compliance Training for Instructors, Universal Safety Oversight Audit Programme (USOAP), among others.
The various trainings were conducted under the ICAO Standard and Recommended Practices (SARPS), as FAAN prepares the major airports for certification by the Nigeria Civil Aviation Authority (NCAA).
In addition to the training, FAAN disclosed that the new management has adopted a comprehensive approach involving various strategies and practices to improve safety across the airports under the agency’s control.
The agency said it would continue to conduct regular safety drills and simulations for various emergency scenarios (e.g., aircraft accidents, response time, evacuation, severe weather, bomb threats, natural disasters, structural fire, etc.,) across airports to ensure preparedness.
It has also engaged in modern security technology; including upgrade of screening equipment, surveillance systems, and access control measures to enhance security and safety protocols. Also, FAAN said the management would continue to provide operational and communication tools and equipment- camera, breathalyzer, binoculars, safety boots, wet floor, safety cones, and and others for all safety critical departments, as well as the provision of a safety library across the airports to enhance safety research, data collation, compilation, and management.
The FAAN boss said there had been improved runway and taxiway design by installing upgraded airside infrastructure, disclosing that the Runway 18R and 36L was recently modernized and reopened at MMIA to minimise risks, such as collisions and incursions, by following best practices in airport designs and markings, including general maintenance of terminal facilities and air operations area.
The upgrading and modernisation of facilities at the runway, commonly known as the international runway, ended delays and inconveniences suffered by international carriers, which had to co-use the domestic runway, Runway 18L, that became too busy during peak hours when it was the only functional runway at Nigeria’s busiest airport.
Emphasising the importance of safety and why FAAN is determined to ensure that the agency’s personnel has updated skills and the airports installed with modern safety facilities, Kuku, said: “Safety is the cornerstone of every airport operation and it is the highest priority in creating an environment that passengers and public can trust. It is the backbone
of all airport activities. In the complex ecosystem of our airport, from the moment travelers arrive, to the instant they reach their destinations, every aspect of their journey is designed with safety as the highest priority. This is why FAAN management, within a week of inception, reviewed and signed the FAAN Corporate Safety Policy that shows management’s commitment to accountability and responsibility to safety.”
She explained that the airport remained a hub for activities that facilitate global connections, and maintaining safety is not just a regulatory requirement, but also a commitment to protecting human lives, securing infrastructure, and fostering confidence among travelers and employees alike and stressed that this commitment is embedded in all FAAN’s procedures, technology, and training programs to ensure that, “we are safeguarding not only passengers, but also, our staff and stakeholders.”
“Maintaining a safe airport environment is a dynamic process that requires constant vigilance and a culture that encourages everyone, from frontline employees to senior leaders, to take ownership of safety standards. This includes engaging in rigorous inspections, provision of state-of-the-art safety aid, security systems, regular drills that prepare our teams for any scenario. We also work closely with regulatory bodies like NCAA, ICAO, ACI (Airport Council International) and other sister agencies in Nigeria to continuously review and enhance our protocol based on the latest industry advancement and best practices,” Kuku said.
She also noted that safety for the agency is more than just compliance with standards, “it is a commitment we make to every person who steps into our airport. We understand that travelers trust us with their well-being, and this is the reason why every investment we make, every policy we put in place, is about ensuring safe and reliable travel for all.”
Kuku also disclosed that FAAN adopted Safety Management System (SMS), which emphasises a proactive approach to safety management through continuous monitoring, evaluation and improvement, noting that the process allows the agency to learn from past incidents, refine its procedures, and implement best practices, leading to an overall enhancement of safety culture.
“An effective SMS encourages the reporting of safety concerns and incidents without fear of retribution. This open communication allows for better data collection and analysis, which is vital for identifying trends, understanding root causes, and taking corrective action to prevent future occurrences.
Kuku also stated that SMS fosters collaboration among various stakeholders in the airport environment—including airport management, airlines, ground handlers, security personnel, and the regulatory body, which is the Nigeria Civil Aviation Authority (NCAA), adding that this collective effort enhances the overall safety posture of FAAN operated airports.
“A well-implemented SMS includes training programs that educate employees about safety protocols and practices. This training builds awareness and competence, ensuring that all personnel are equipped to contribute to a safer airport environment. Safety and efficiency are inherently linked in airport operations. An effective SMS can streamline processes and improve communication among teams, leading to reduced delays and enhanced operational performance,” Kuku further said.
Bayelsa Education Reform: Big Steps in the Right Direction
An innovative reform programme in Bayelsa could unravel learning poverty in Nigeria, writes Oluchi Chibuzor
“It’s time. It’s time. Keep quiet everybody,” Mrs. Agnes Tamaraudoubra, a petty trader in Otuoke town told her two sons in the afternoon of 2, October as she raised the volume of her radio.
“Where are your notebooks,” she asked, her voice becoming more emphatic to command compliance.
The boys scrambled in two directions. Few minutes later, everyone was seated and quiet as a female voice on the radio began to speak, after a brief interlude of music. “Welcome to the BayelsaPRIME@ Home learning broadcast ….,” the warm voice said. By now, both children and Mrs. Tamaraudoubra were entirely drawn to the math lesson that was going to be aired by the state-owned radio station to mitigate possible learning losses occasioned by flood-related school closure.
In Bayelsa, schools are closed for a sixweek period every year for safety reasons because many communities experience various degrees of flooding during the rainy season.
As part of the overall basic education reform strategy of the Senator Douye Diri led administration to improve learning outcomes in state-owned schools, BayelsaPRIME was launched a little over two years ago. BayelsaPRIME@Home is an initiative of BayelsaPRIME to keep children learning during flood break.
“This is a modicum of what is being done to improve literacy and numeracy among our children,” Chief Victor Okubonanabo, Executive Secretary of Bayelsa State Universal Basic Education Board (Bayelsa SUBEB) said.
“Through BayelsaPRIME, we are implementing far-reaching changes in the way our schools, teachers and pupils are managed with the overall goal of building a system that delivers exceptional learning outcomes for our children,” he said.
“We first heard that the government introduced a reform through our children and their teachers. But we didn’t know the Prosperity Government of Senator Diri would go further to bring the lessons to our home,” Mrs. Tamaraudoubra said, when the lessons were over for the day.
NEW BEGINNING
Governor Diri was clear that education would be used as a strategy for development and transformation when he took office. “We are leveraging technology to improve the education sector with the introduction of a technology-driven programme known as BayelsaPRIME (Bayelsa Promoting Reform to Improve and Modernise Education) as well as establishing technical and vocational schools across the state to equip students with the skills to be self-dependent,” he told an audience while delivering a keynote address at the 10th International Forum on African-Caribbean Leadership in New York earlier this year.
Technology and a new teaching methodology are the main drivers of the reform. It is being used to address age-long issues including teacher truancy, absenteeism and paucity of quality lesson notes. It is also being used to collect data which is relevant to real-time decision making.
At present over 2,507 specially designed teacher tablets, 222 smartphones and 222 power banks have been issued to teachers and head teachers to facilitate teaching, learning and schools management. A dedicated IT support team is on standby to address challenges the technology may have while a customer care team which can be reached through several mediums including telephone, WhatsApp and emails is also available to address other issues.
The tablets contain proprietary software which facilitate several processes. With the tablets teachers mark attendance and departure, mark attendance for the children and receive lesson guides which aid in lesson delivery.
With the tablets teachers clock in the exact time they arrive at school, thereby curbing lateness; with the tablets lessons are delivered so there are rearer occasions where a teacher is in school and does not teach, all activities taking place in the schools and classrooms can be monitored remotely using the teacher tablets and the smartphones which have been deployed to the school.
Additionally, the names of the children, phone numbers of their parents, exam and test results are all in the teacher tablet which in turn transmits data to a centralised database which can be accessed by the governor of the state, commissioner for education, Bayelsa SUBEB executive secretary and other education sector policymakers.
“The tablet has enabled me to learn new things too. I studied economics at the university, but teaching math was a struggle for me, but with the content in the tablet, I can more easily deliver my lessons in ways that I would not have done without this intervention,”
Mr. Samuel Ibu, a teacher in Ogbia local government area said.
Other teachers have pointed to the timesaving impact of the tablets, and alluded to how it made them more organised and efficient in time management.
Apart from technology there is a whole new method to classroom and school management.
“This method is children centric, its uses the play and participatory method to ensure that children are not only learning, but they are also contributing in class,” Mrs. Ebiegha Tarikye Favour, the head teacher of Isaac Jasper Boro
Primary School in Yenagoa said during a tour of schools where the programme has been implemented.
“One of the things we observed after implementing the reform is that children who were introverts and seemed to be in their “shells” started participating in lessons, as there was no more room for a child to be left out or behind in class activities.” Teachers have also been directly impacted.
Because of the need to keep teachers informed about developments in the science of learning which underpins BayelsaPRIME, quality assurance officers, school supervisors, and learning and development officers visit each school weekly. Their visits provide an opportunity for teachers to be directly monitored, and supported with coaching and mentorship to enable them better mirror all the tenets that make the reform programme what it is.
At present, over 2,800 teachers and head teachers are in the programme. They are supported, not just with coaching and mentorship but also telephony-based technology in form of specialised teacher tablets and smartphones which are the bedrock of the technology that is being used to manage schools and classrooms.
Through these devices, lesson guides are sent to each teacher, the performance of each teacher is monitored, the performance of the children is monitored, key details about teacher attendance, pupil attendance, challenges facing each school and other important issues that impact the performance of the schools are tracked.
All the data is fed into a centralised data management system, which is accessibility to policy makers at the Ministry of Education in Yenagoa and the Bayelsa State Universal Basic Education Board.
Of impact and sustainability
“It’s interesting how BayelsaPRIME has changed the behavior of my teachers,” Mrs. Inisiseizibe Ezekiel, the headteacher of State School 1 Ologri said.
“In the past, my teachers would resume school when they like. But at the moment, I see them show up a few minutes after 7am, some even arrive at school as early as 6.30am because arriving after 7.45am would mean they are late and that means the authorities at the State Universal Basic Education Board will know and ask questions.
The renewed emphasis of doing the right thing in schools has led to improvement in key performance indicators which are used to evaluate the performance of teachers and their schools. Before the implementation of the programme, teacher attendance was as low as 15% in some cases. At the moment, it has risen to an average of over 70%. Same applies for head teachers who have exhibited remarkable improvement in attendance surpassing 80% in more recent months.
“In the past, we had teachers who would connive with their head teachers. An arrangement would be reached whereby the head teacher would cover-up for an erring teacher, but with this new technology introduced by the governor, its either you are in school or not, those who attempt to game the system are identified because there are several methods used for the monitoring,” Mrs. Evelyn Ekiegha Ekese, the head teacher of Community Primary School Agbere said.
A measurement and evaluation exercise carried out a few months after the implementation of BayelsaPRIME showed that there is measured improvement in the system.
After only 19 weeks of instruction, the percentage of non-readers dropped. A significantly higher number of pupils improved in their ability to comprehend and benefit more from what they read. Primary 6’s comprehension scores were 80% higher than expected, and Primary 2 were triple compared to non-BayelsaPRIME schools.
The programme improved the average numeracy scores of every primary grade. Every grade in the programme outperformed their peers in comparison schools. The programme dramatically increased the rate at which pupils learn math. Primary 3-5 pupils gained a year worth of math instruction in just 19 weeks.
Also, teachers improved the quality and quantity of their instruction. Teachers’ rate of lesson completion increased, as well as their time use, utilising sound teaching practices.
“We who cannot afford private schools are happy with the improvement we are witnessing in our children. My elder son who used to struggle with reading has started reading, he is sounding words and using that knowledge to read, a parent, Mrs. Ononuju Chukwunyerenwa said in Ogbia town.
For teachers, the programme has also come with some learnings, “the tablets given to us as part of the BayelsaPRIME programme has enabled me to learn new things too. I studied economics, but teaching math was a struggle for me, but with the content in the tablet I can more easily deliver my lessons in ways that I would not have done without this intervention,” Mr. Samuel Ibu, a teacher in Ogbia local government area said.
While BayelsaPRIME is operational in just four local government areas at the moment, there are plans by the state government to extend the reform to other local government areas: Nembe, Southern Ijaw, Brass and Ekeromor.
An expansion is planned for early 2025 will bring in approximately 3,000 teachers and head teachers as the state continues to democratize delivery of quality education.
Memorial
Douye-Diri
Teacher with an electronic defice for classroom activity
Ebonyi Airport as White Elephant Project
The Chuba Okadigbo International Airport, Onueke, in Ebonyi State has come under heavy criticism from concerned citizens of the state, alleging that so much money have been expended on the project, which according to them, has the least value to the people of the state. The development has created a wave of disappointment in the people, as the facility is yet to start operations, reports Chinedu Eze
Concerned citizens of Ebonyi State are not happy about the slow development of the Chuba Okadigbo Airport, located in Onueke.
At first, when the airport was being built, their hopes and expectations were high, with the strong belief that when the airport is completed, it would create jobs, spruce up the image of the state and boost its economy, since investors could easily access the state to establish businesses.
But almost one and half years after the airport was unveiled by the former governor of the state who is currently the Minister for Works, Dave Umahi, it is still non-functional and what stirred the angst of many is the fact that after opening the airport, it was closed again for the rebuilding of its runway.
Many informed citizens of the state are ached by the fact that the airport gulped a lot of money, estimated to reach N62 billion, yet it is not operational. The few personnel employed there, idle away every day and to make the matter worse, recently a prayer session took off from the departure lounge of the airport, where they invited God to come and make the airport functional, thus fueling the fear that the facility has been converted to a church, which sparked the ire of those who opposed the building of the airport ab initio.
THE CRITICISM
There has been severe criticism by aviation stakeholders and other Nigerians against the development of airports by state governments. They noted that building airport is capital intensive and most often, it does not bring justifiable returns, even though airports are very important infrastructure that aid development of any nation.
In Nigeria, due to the critical need of airports, the federal government built airports in different parts of the country and among the states, some of them at different epochs in history considered the establishment of airports to enhance the development of their states. This was what gave birth to what is today, Sam Mbakwe International Cargo Air port, Owerri, the Uyo Airport in Akwa Ibom State and also
the Asaba airport in Delta State. What is strategic about these airports is that they filled a vacuum in the sense that there was existing market for them.
Before Anambra built airport at Umueri, the Asaba airport catered to the air movement of Onitsha businessmen and women.
Onitsha is a commercial city in South East. The Uyo airport was also strategic because the state is major oil producing state and needed quick movement of oil and gas personnel and easy movement of logistics. There was also a vacuum in Owerri, which makes the airport the busiest after Lagos, Abuja and Kano.
All other airports built by the state governments have remained a burden, except Anambra Airport, which became busy and profitable to airlines, from the first time it started operation. But the difference between Ebonyi and Anambra people is that Anambra citizens have higher disposable income compared to that of Ebonyi. Many insiders project that the Ebonyi airport would be like most of the airports built in northern part of the country, which were later given to the
federal government, which handed them over to the Federal Airports Authority of Nigeria (FAAN) to manage.
Umahi, at the opening of the airport last year, announced that it has been taken over by the federal government but critics said that it was a political talk because there has not been any indication that the federal government has taken it over. If it has, they observed, it would have been handed over to FAAN. Umahi also said that the federal government would refund the state all the funds expended on the project. There was an indication of that under the Buhari administration but this is Tinubu administration and many are skeptical that the new President may go along with the old agreement.
BUOYING STATE’S ECONOMY
Spokesman of the People Democratic Party (PDP) in the state, which is an opposition party, Onwe Chika Onwe, who is primed to become the new Chairman of the party in the state, told THISDAY that many Ebonyi citizens at the beginning supported the
project when the former governor assured that it would be a cargo airport as well as passenger service airport. To the people’s understanding, as cargo airport it would be moving perishables and other farm produce from the state to big markets in Nigeria and as well as function as passenger airport.
Onwe felt that the airport taking those roles would rev up the state’s economy but that high expectation has been dashed by prolonged inactivity of the facility.
According to him, “When the hidden agenda started unfolding we realised it. The former governor, Umahi told us that the airport cost N36 billion, but we later learnt that he spent N40 billion. He must have done all his over bloated budget. I went to the airport but what I saw did not give me any hope, but when I complained they said that I was talking like as an opposition.”
REBUILDING THE RUNWAY
Onwe also said that when the runway was condemned as not meeting the safety standard because of the way it was built, the current governor, Francis Nwifuru, claimed that he rebuilt the runway with N22 billion, which in total is N62 billion, according to him.
“But in my thinking I am not hopeful that it will work. It is not going to work. They have already started doing church programme there. The only flights that came through the airport were the fights that brought the Chairman of All Progressives Congress, Dr. Abdullahi Umar Ganduje, who attended the burial of the former Minister of Science and Technology, Ogbonnaya Onu. Government has continued playing politics, using the airport as soft target and conduit pipe. He has spoken about Ebonyi state establishing its own airline but nothing has happened since then. Maybe, they thought that establishing airline is like going into bus transport business. This is not motor park business
Tannoury: UniWood Driving Innovation in Nigeria’s Wood Supply Industry
Recently, UniWood, Nigeria’s premier wood supply company, unveiled its latest offerings, solidifying its reputation as a trusted partner for carpenters, furniture manufacturers, and interior designers. In this exclusive conversation with MARY NNAH, UniWood’s Managing Director, Roland Tannoury, reflects on the company’s remarkable 14-year journey, shares the secrets behind its success, and discusses its game-changing partnership with Starwood, as well as its commitment to delivering exceptional wood products and solutions to Nigeria’s thriving furniture and construction sectors. Excerpts
What drives UniWood’s participation in Made by Design 2024?
We participate in the Made by Design exhibition annually. We attend to showcase our products and brand to new carpenters, designers, and students. This event allows us to connect with existing clients, both in-person and through phone interactions.
The exhibition provides an ideal platform to unveil our latest colours and designs. Many established companies familiar with us look forward to seeing our new decor. Following the event, we pursue follow-up engagements.
We strategically select top-tier exhibitions aligned with our clients’ preferences. Made by Design is a premier event, attracting our target audience – carpenters and companies. Our presence supports our clients, fostering mutual success; when we sell, they sell.
What inspired the creation of UniWood, and what’s the company’s history?
UniWood is a leading wood supply company in Nigeria. We were established 14 years ago. We have two branches, one in Abuja and one in Lagos. Our clients include all carpenters and wood factories. We are well-known for our exceptional quality, competitive prices, and extensive stock.
Everybody needs us, as anyone building a house requires our services. We provide full support from A to Z regarding wood supplies.
UniWood’s Collaboration with Starwood. What’s the Story?
Starwood, a renowned wood brand, has partnered with UniWood, a leading Nigerian wood supply company. As the sole distributor of Starwood in Nigeria, UniWood imports and
distributes Starwood products nationwide. With 14 years of industry experience, UniWood has established a tradition of introducing innovative and superior materials annually. Our pursuit of excellence led us to Starwood. Despite being relatively new to the market (approximately one year), Starwood has emerged as a global leader, offering exceptional quality at competitive prices. In today’s market, customers prioritise price and quality. Starwood’s exceptional standards and affordability make it the ideal choice. Our partnership with Starwood reinforces UniWood’s commitment to delivering top-notch products, solidifying our position as Nigeria’s premier wood supply company.
UniWood now exclusively markets Starwood products. Previously, we represented other brands. We have always stayed ahead of the curve. Recognising Starwood’s emergence as a global leader in the market, particularly in Lebanon, Africa, and Europe, we transitioned to this premier brand. Within a year, Starwood has become the number one choice in Nigeria, and we are proud to have played a significant role in this achievement. Our partnership’s success can be attributed to two key factors: UniWood’s expertise and Starwood’s exceptional quality.
How has UniWood evolved over the years, and what significant milestones have you achieved?
Operating in Nigeria’s vast and competitive market poses significant challenges. Despite the presence of numerous companies and brands, UniWood has successfully established itself as a leading wood supply company.
Over the years, we have achieved notable success, with 14 years of uninterrupted service cementing our position in the industry. We have formed strategic partnerships with global brands like Starwood and expanded through two branches in Abuja and Lagos, enhancing nationwide accessibility. Our team of experienced professionals ensures exceptional customer service.
Our success is attributed to collaborations with industry experts, such as Mr. Edmond Raffoul, Business Development Manager for Hijaziwood and Starwood (Lebanon and Turkey). His guidance and support have been invaluable in navigating Nigeria’s complex market.
Investing heavily in human resources
and infrastructure has enabled UniWood to thrive in this dynamic environment.
What were UniWood’s expectations from participating in Made by Design?
Our participation in Made by Design is driven by two primary objectives. Firstly, we aim to generate sales and increase our customer base. Secondly, we seek to raise awareness and establish a strong presence for Starwood, a relatively new brand in the Nigerian market.
Through this exhibition, we intend to create a lasting image for Starwood, showcasing its exceptional quality and value proposition. By leveraging this platform, we strive to reinforce UniWood’s position as a leading wood supply company, while cementing Starwood’s reputation as a premium brand in Nigeria.
What Sets Starwood Apart, Making it UniWood’s Brand of Choice?
Three key factors make Starwood our preferred partner: Firstly, our long-standing relationships with clients, built on trust, reliability, and unwavering support over 14 years.
Secondly, Starwood’s exceptional quality, sourced from the best worldwide, meets the high standards our clients expect.
Thirdly, our competitive pricing strategy prioritizes client satisfaction over excessive profit margins, ensuring the best value. Additionally, our substantial local stockholding enables immediate availability, eliminating lengthy wait times for project materials.
Tannoury
Fadipe, during a media presentation on the food security of the nation, and how it is strategically tackling it by Foodclique Support Initiative in partnership with Sony Music Entertainment, held in Gbagada Lagos…recently
the
L-R: Executive Director, MTN Nigeria Foundation, Odunayo Sanya; Director-General, Women Chamber of Commerce, Industry, Mines and Agriculture (WCCIMA), Eribo Weyinmi; National Consultant, Private Sector Partnership, UN Women, Hansatu Adegbite; Divisional Head, Retail and SME, Wema Bank, Mrs. Bayo Rotimi; and Managing Director/Chief Executive Officer, Quest Advisory Services Limited, Ayodele Olojede, during the launch of a handbook on Inclusive and Equitable Entrepreneurship Programming in Nigeria by Enterprise Development Centre, Pan-Atlantic University, held at Four Points By Sheraton in Lagos....recently
L-R: Head of Strategic Partnerships, Energy Institute UK, Mrs. Yewande Abios; Special Adviser on Energy to the President Bola Tinubu, Mrs. Olu Arowolo Verheijen; and Chairman, Energy Institute Nigeria, Mr. Osten Olorunsola, during the honour presentation to Verheijen by the Energy Institute in Lagos...recently
L-R: Chief Financial Officer, Foodclique Support Initiative, Mr. Akorede Alabi; Chief Executive Officer, Foodclique Support Initiative, Mr. Ibrahim Onilegbale; Public Relations and Administration, Sony Music Entertainment West Africa, Mr. Jim Donnett; and Director of Food Sourcing and Fund Raising, Foodclique Support Initiative, Mrs. Abosede
PHOTO: ETOP UKUTT
L-R: Former Governor of Imo State, Hon. Emeka Ihedioha; former Director-General of NGX, Professor Ndi Okereke-Onyiuke; groom, Fawaaz Field; bride, Kalaya Okereke, mother of the bride, Dr. Tokunbo Okereke, and family member, Gogo Kurubo, during the wedding of Kalaya and Fuwaad in Lagos...recently
L-R: Immediate-past Chairman, Nigerian Institute of Architecture Lagos State Chapter (NIALSC), David Majekodumi; General Secretary, NIALSC, Adaka Osuagwu Ogunmanon; Vice Chairman, Moniba Odunlami; Chairman, Biodun Fatuyi; Treasurer, Taiwo Aiyepo; Public Relation Officer, Dejoke Amusaf; and Social Welfare Officer, Damilola Popoola, at the NIALSC Biennial General Meeting/election 2024 in Lagos... recently
Director-General, National Agency for
Control of AIDS (NACA), Dr. Temitope Ilori (right), during her advocacy visit to the Ekiti State Governor, Mr. Biodun Abayomi Oyebanji (left), on ‘Eliminating Mother to Child Transmission of HIV and Sustaining the HIV Response’, held in the state...recently
NBA Meets Art: Bringing the Right Mix of African Creativity, Social Change to Art X Lagos
In a vibrant celebration of art, culture, and social change, the NBA Meets Art initiative has brought together basketball enthusiasts and art lovers alike. This year’s collaboration with Art X Lagos features Nigerian artist Williams Chechet’s powerful installation, “Breaking Barriers,” showcasing the intersection of sports and social activism. MARY NNAH writes
As the NBA continues to grow its presence in Africa, its commitment to promoting local talent and cultural engagement has become increasingly evident. With a focus on grassroots development and community outreach, the league redefines the intersection of sports and art.
This year, NBA Meets Art and Art X Lagos unite to showcase Williams Chechet’s dynamic installation, “Breaking Barriers,” which harnesses the intersection of sports and social activism to inspire positive change.
Art X Lagos is West Africa’s premier international art fair, showcasing the best of contemporary African art.
Gbemisola Abudu, Vice President of NBA Africa and Country Head for NBA Nigeria, emphasised the significance of this partnership.
“The NBA strives to be accessible to everyone, regardless of age or social class. Art X provides a unique opportunity to connect with fans from all backgrounds and deepen cultural engagement.”
“This year’s collaboration is particularly important because Art X provides a unique opportunity to connect with fans from all backgrounds.
“The Art X platform allows us to showcase our commitment to Nigerian culture, deepen cultural engagement, and demonstrate how sports can drive social change. Nigeria stands as a cultural leader in Africa, and this collaboration reflects that”, Abudu noted.
She emphasised that culture is integral to the NBA’s identity and that seamlessly integrating art into basketball is crucial.
“When collaborating with artists, we seek those who understand the ethos of the NBA and represent Nigeria’s diversity.”
Speaking on how the theme of the “Breaking Barriers” installation resonates with Art X Lagos audiences and what values it embodies, Gbemisola said, “The theme of this year’s Art X resonates deeply with the idea of social change. It’s important to recognise that change doesn’t occur in isolation; everyone has a role to play in that process.
This message is reflected in the work we are showcasing. Basketball, for example, serves as a powerful metaphor for life. To succeed, players must practice diligently to hone their skills before stepping onto the court. However, no player can win a championship alone; it truly takes a community.
Each player has a specific role on the team - there cannot be too many centers or point guards. Understanding and embracing these roles is essential for facilitating change and contributing to community development. This concept is illustrated by the mural we discussed, which features different hands lifting a basketball. It symbolises the idea that no single hand can lift the ball alone; it requires collaboration.
Through this art, we aim to provide an opportunity for people not only to appreciate Chechet’s work but also to become a part of it.
Abudu highlighted the evolution of NBA Meets Art, which launched in 2022 as part of the NBA Meets Culture platform. “Art was the first pillar we chose to integrate with the NBA brand.
This year marks our third edition, featuring a collaboration with a local Nigerian artist, which is very meaningful to us.”
Regarding Williams Chechet, a Nigerian artist whose piece “Breaking Barriers”, was featured this year and which also aligns with the project’s core theme. Abudu said, “Working with him has been incredible. I admire how he interprets basketball, particularly his insights on teamwork.”
“His art captures the various elements that contribute to a team’s success, whether in achieving victory or driving social change. Chechet who is from Kaduna, has a genuine connection to basketball, having fallen in love with the game while playing in Zaria”, she added
Chechet’s installation embodies the diverse visions inherent in basketball, advocating for
social change and celebrating cultural diversity.
Abudu praised Chechet’s work, stressing its alignment with the project’s core theme.
“His art captures the various elements that contribute to a team’s success, whether in achieving victory or driving social change.”
The NBA Meets Art initiative demonstrates the league’s commitment to promoting African artists and creatives on a global scale. “We are dedicated to showcasing the incredible talent our continent has to offer,” Abudu said.
As the NBA continues to grow its presence in Nigeria, Abudu emphasised the importance of grassroots development and cultural engagement.
“Our focus is on enhancing the basketball ecosystem in Nigeria, with grassroots development at the forefront.”
Through initiatives like the Junior NBA and Junior WNBA clinics, the NBA is increasing access to basketball across Nigeria. “We aim to ensure that
our programs are accessible across the country, moving beyond just Lagos and Abuja to reach all regions,” Abudu noted.
The NBA Africa Triple Double Accelerator, launched earlier this year, also supports Nigerian start-ups in the sports and creative industries. “From over 700 applications, we selected 10 finalists, including four Nigerians, who pitched in New York. The top two winners, Festival Coins and Salubata, are also Nigerian,” Abudu shared.
In addition, the MyNBAMomentNG campaign invites fans to share their favorite NBA moments, creating a collage that embodies collective experiences.
“This campaign allows fans to relive those experiences with us. Everyone has that one sports moment that brings them joy,” Abudu said. Abudu reflected on the collaborative process, highlighting the importance of finding the right artist to bring the NBA Meets Art vision to life. “We seek artists who understand what our brand
represents and have a genuine connection to the game.”
As the NBA Meets Art initiative continues to grow, Abudu hinted at exciting future collaborations. “Stay tuned for what’s coming. We have established pillars guiding our work, and we’re committed to showcasing African talent on a global stage.”
For Williams Chechet, a Nigerian artist known for his vibrant pop art installations, collaborating with NBA Meets Art was an opportunity he eagerly embraced. “I was thrilled to be approached for this collaboration,” he said, acknowledging the league’s commitment to social change. “The NBA is making significant strides, and I’m excited to contribute.” His installation, “Breaking Barriers,” leverages basketball’s dynamics to symboliSe the pursuit of social justice. “It’s about goal-setting, strategy, movement – and how these elements can drive collective progress,” Chechet explained. By featuring interlocking hands, his artwork celebrates teamwork and unity. “It’s an artwork that emphasizes collaboration, mirroring my artistic process where community involvement is key.”
Chechet’s work embodies the spirit of social change and cultural diversity, shared insights into his creative process, which combines pop art elements with shredded newspaper and magazine clippings.
“My style is rooted in pop art, using clippings from NBA publications to create a unique visual language.”
The result is a striking installation that embodies the spirit of teamwork and social change.
“Basketball fosters unity among team members, all striving for a shared purpose,” Chechet explained.
“My artwork represents teamwork, showcasing hands that symbolize diverse individuals uniting to achieve a common goal”, he said further.
Chechet acknowledged the significance of the partnership. “I was thrilled to be approached for this collaboration. The NBA is making significant strides, and I’m excited to contribute.”
With “Breaking Barriers” paving the way, the intersection of sports, art, and social change is poised to inspire a new generation of creatives and basketball enthusiasts alike.
NBA Meets Art is an initiative of the NBA Meets Culture platform, celebrating art through the lens of basketball. The platform focuses on five cultural pillars: art, fashion, film, music, and technology.
L-R: Vice President NBA Africa & Country Manager, NBA Nigeria, Gbemisola Abudu; Artist, Williams Chechet; and Amadou Gallo Fall, President of Basketball Africa league at the NBA Nigeria Installation, titled “Breaking Barriers” at the ART X Lagos VIP Opening on Friday, Nov 1, 2024
Ms. Gbemisola Abudu of NBA Africa
NEPZA, Kogi Govt Mull Free Trade Zone to Boost State’s Economy
James Emejo
The Managing Director/Chief Executive, Nigeria Export Processing Zone Authority (NEPZA), Dr. Olufemi Ogunyemi, haas said the authority will consider a request by the Kogi State Government for the establishment of both a Free Trade Zone (FTZ) and industrial park in the state.
Speaking shortly after a meeting with the State Governor, Ahmed Usman Ododo, at NEPZA Headquarters in Abuja, he said the economic zones will help to harness the state’s vast natural resources and agricultural produce.
He said, “Those are great raw materials that need to be harvested with value addition for export and for stimulating the economy of Kogi State.
“So, if Kogi State can have a
special economic zone to harness all these potential industrialisation opportunities, it’s good for the state.
“Once you have something like an industrial park, you’ll be able to generate employment for Kogi State. The employment will be able to generate taxes, payee taxes for Kogi State.”
He said, “In a special economic zone, you have to develop the surrounding communities where the zone is situated. That’s a benefit to the state. And also, there will be some transfer of technology, training local people into the various technologies that will come to the park.There’s a host of benefits. I was quite struck by the passion of the governor and I’ve pledged support from my office here to support the quest for industrial park and a
special economic zone.”
Speaking with journalists earlier, Chief Economic Adviser to the Governor, Mr. Aliyu Salami, said, “We have come here to seek for collaboration to institute an economic zone in Kogui State. We came to lay the building block so that we can be handheld to be guided on how to set one up for the benefit of the state.”
He said the state is endowed with a host of solid minerals in commercial quantities which needed to be harnessed for the benefits of the people.
He said, “We also have huge agricultural potentials in the state. And we have abundant human resources as well, you know. So, to that extent, we want to mix all of these opportunities together to ensure that it works for the state.”
Global Safety Day: WACT Commissions Firefighting Truck, Recovery Tow Truck
The West Africa Container Terminal (WACT) commissioned a firefighting truck, recovery tow truck and a water bowser truck to mark the 2024 Annual Global Safety Day at Onne Port, Rivers State last Wednesday.
The event themed, “Be Curious Because We Care,” reflects WACT’s utmost and underlying priority: keeping all workers, contractors and other stakeholders at the terminal safe.The company said safety is not a one-time, annual focus – “it is our license to operate and the commitment we make every day to our colleagues that, no matter what their work is, or where it is, they get to go home safely at the end of the day.
Speaking at the event, the
General Manager, Government and Public Relations, Innocent Ogbuji, said WACT is committed to safety and ensures continuous improvement on safety. He further emphasised the importance of safety by encouraging colleagues, government officials and everyone present to be curious about safety in the right direction.
“All this while, safety has been engineered from the top, but we want it to start from you, and that is why we want you to be curious. From the top, we make policies, processes and you carry it out but now, we want you to question things to learn more about the process and improve it. We also encourage the government agencies to be curious with us,’’ he said.
Also speaking, WACT’s Health, Safety and Environment (HSE) Manager, Adeboye Ogunpolu, said, “We are committed to ensuring that everyone who comes to our terminal, colleagues, customers, vendors, government agencies, no matter what their work is, or where it is, they get to go home safely at the end of the day.”
Also speaking that the event, the Senior Safety Officer of Nigerian Ports Authority (NPA), Onne Port Complex, Osuntuyi Niyi, commended WACT for observing the annual Global Safety Day to promote safety in the workplace and reiterated NPA’s vision to deliver efficient port services in a safe, secure and customer-friendly environment.
Tech Creatives Set to Recognize 20 Innovative Marketers
As a way to celebrate creativity and forward-thinking in marketing, The Tech Creatives—a vibrant, dynamic community of tech-savvy marketing professionals—has officially launched its exciting new index, “Driving Innovation: Top 20 Marketers to Know.” This isn’t just any index—it’s a bold recognition of the marketing trailblazers who are shaking up the industry and rewriting the rules of what’s possible.
This index spotlights 20 extraordinary marketers transforming the marketing landscape with their fresh, innovative approaches. Whether through cutting-edge branding, digital marketing strategies, content
genius, customer engagement mastery, or tech-driven campaigns, these industry leaders are paving the way for the future of marketing. The Tech Creatives is celebrating marketers who are pushing boundaries and setting new benchmarks for excellence.
This initiative is a celebration of the innovators who are turning marketing into a creative powerhouse, revolutionizing the way brands connect with audiences. These marketers are not just adapting to change—they’re creating it.
“This index is about recognizing the great talents in tech marketing across Nigeria,” says co-founder Yewande Odesanya,
who, alongside Khadijat Durosinmi, is leading the charge to spotlight these innovators. “We’re thrilled to highlight their exceptional work and inspire the next generation of marketers to reach new heights of creativity and innovation.”
Khadijat chimed in, saying, “Innovation is the heart and soul of marketing success today. We’re seeing these incredible marketers break new ground every day, and it’s time we give them the recognition they deserve.” And it’s true—in this ever-evolving digital world, marketing and innovation go hand in hand, and these 20 trailblazers are at the forefront of it all.
Onga Splashes over N112m on 2,791 Customers
Oluchi Chibuzor
Promasidor Nigeria, has said it has splashed over N112m on 2791 customers in the ongoing Onga taste the million promo.
This is as 304 winners have again emerged in the Onga taste the millions promo as part of the company’s N250 million giveaway promo.
Speaking at the 6th draw in Lagos, the Culinary Category Manager, Promasidor Nigeria, Oladapo
Oshuntoye, expressed excitement at the scale of the promo and the breadth of participation.
According to him, “2971 Consumers have won N112,850,000 worth of cash and prizes in the promo. While we have influenced the habits of our customers through the Onga Taste the Millions Promo, for instance, we have heard stories of people who are new consumers of Onga just for an op-
portunity to win in the promo.”
For the Assistant Brand Manager, Promasidor Nigeria, Ademola Ologbe, urged consumers to take advantage of the opportunity to win.
“We are grateful to our customers. The promo has been incredible, and we’re thrilled with the level of participation. Onga is a household name, and this promo is our way of thanking our loyal customers,” he said.
Blend
Djeno (Congo),
(Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria),
Merey (Venezuela).
L-R: General Manager, Government and Public Relations, West Africa Container Terminal (WACT), Innocent Ogbuji; Health, Safety and Environment (HSE) Manager, Adeboye Ogunpolu; Senior People Business Partner, WACT, Chinelo Obienyem; Head of People Function, APM Terminals Nigeria, Uzoma Ngozi Ben-Ude and Chairman, National Association of Government Approved Freight Forwarders (NAGAFF), Onne at the ribbon cutting of WACT’s brand new firefighting truck, recovery tow truck and water bowser truck at Onne Port, Rivers State...recently.
ISB 2024 Proposes N20m Fine, 10Years Jail Term for Ponzi Operators
Kayode Tokede
In a bid to ensure that illegal fund managers are not allowed to fleece unsuspecting Nigerians of their hard earned funds, the Securities and Exchange Commission (SEC) is introducing an express prohibition of Ponzi/Pyramid Schemes and other illegal investment schemes.
These and others are contained in the Investments
and Securities Bill (ISB) 2024 currently before the National Assembly.
The Bill proposes that promoters and operators of any entity engaged in a prohibited scheme commits an offence and is liable on conviction to a penalty of not less than N20,000,000 or imprisonment to a term of 10 years or both.
In his opening remarks at the Public Hearing held yesterday in Abuja, President
of the Senate, Senator Godswill Akpabio, said the Investment and Securities Bill 2024 is not merely a legislative document; but a beacon of hope for the nation’s economic landscape.
Represented by Senator Binos Yaroe, Akpabio said by repealing the Investment and Securities Act of 2007, the nation is taking a bold step towards modernising its financial markets, fostering transparency, and enhancing
investor confidence.
He added that the Bill is designed to create a more robust and equitable environment for investment, ensuring that markets can thrive in an increasingly competitive global economy.
He said, “As we delve into the discussions today, I urge you to embrace this opportunity with an open heart and a discerning mind.
“The importance of your
contributions cannot be overstated. We are gathered here to listen, to learn, and to engage in honest dialogue. Your insights will help us craft a Bill that not only reflects the aspirations of our people but also addresses the intricate challenges we face in the investment landscape.
“Let us remember that the Senate remains fully committed to Nigerian people. Our mandate is clear: to legislate for
the betterment of our society, to create an enabling environment that fosters growth and innovation, and to safeguard the interests of every citizen. Your participation today is a vital part of this commitment.
“Together, we can ensure that the ISB 2024 is not just a piece of legislation but a transformative tool that propels Nigeria towards a future of economic resilience and prosperity.
THE UNFORSAKEN HOUSE OF HEPHZIBAH, LEKKI ...
L-R : Head of Special Project and Mental Health, Lagos State Ministry of Health, Dr Tolu Ajomale; member, Lagos State House of Assembly, Hon. Temitope Adewale; Director and Consultant Clinic Psychologist,
The Unforsaken House of Hephzibah, Lekki,Dr. Busola Olamuyiwa; and Lagos State Special Adviser on Sustainable Development Goals, Dr. Oreoluwa Finnih, during the official opening of The Unforsaken House of Hephzibah, Lekki,... recently.
A former Deputy Governor of the Central Bank of Nigeria (CBN), Mr. Kingsley Obiorah, yesterday, said the CBN Board and the apex bank’s Committee of Governors (CoG) ratified the presidential approval for the redesigned of naira notes.
Obiorah, however, claimed the board did not recommend the 2022 Naira redesign to former President Muhammadu Buhari.
Obiorah made the submission while testifying as the Fifth Prosecution Witness (PW5) of the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of the immediate past CBN governor, Mr. Godwin Emefiele.
The anti-graft agency had on May 15 arraigned Emefiele on a four-count charge before Justice Maryanne Anenih of the High Court of the Federal Capital Territory (FCT), Maitama, Abuja.
Emefiele denied the charge and was admitted to bail in the sum of N300 million.
At the last sitting, Anenih had granted a request by EFCC to call two of its witnesses via Zoom, one of whom was the PW5.
Led in evidence by the prosecution counsel, Mr. Rotimi
Oyedepo, SAN, the witness claimed that he first served as Special Adviser to Emefiele on Economic Matters before he later became Deputy Governor.
However, under cross examination by Emefiele's lawyer, Mr. Olalekan Ojo, SAN, the witness confirmed that the apex bank's board had at its December 15, 2022 meeting, ratified the decision of the CoG on Naira redesign policy, saying, "This ratification is in respect of the redesigned Naira already in circulation."
Obiorah said the first time the apex bank's board heard of the policy was on December 15, 2022.
He stated, "To the best of my recollection, the first day this policy (Naira redesign) was discussed at the board was mid-December, 2022.
I think it was around December 15, 2022.
"The governor (Emefiele) invited the deputy governor, Operations and Director, Currency Operations to present that same memo that the Committee of Governors (COG) saw in October. He also informed the board of the president's approval.
"I do not recollect any instance of the board making recommendation for Naira redesign to the president. There was no meeting the board
recommended Naira redesign."
Earlier, the witness told the court that Emefiele informed the four CBN deputy governors of the naira redesign policy at an event in Lagos on October 25, 2022, and added that they advised him against announcing the policy at the event.
According to Obiorah, "On October 25, 2022, we were in Lagos to commemorate the first-year anniversary of the digital currency, E-Naira. During the break between the first two sessions of the event, the governor (Emefiele) called the four deputy governors and informed us of plans to redesign the currency.
"He was wondering if he was going to announce it that day at the event. My personal reaction was that the event may not be the appropriate place. That was the first time I became aware of the plan.
"Secondly, my comment was that we would have needed time to study the policy and make inputs."
The witness further alleged that Emefiele had told the four deputy governors that the reason behind the secrecy of the redesign policy was to ensure its effective implementation.
Obiorah also recalled that the
deputy governor, operations, had at a meeting of CoG held on October 26, 2022, presented the memo for deliberation, during which the governor mentioned that he had already received the approval of the president for the policy.
"After the CoG meeting, the governor and two deputy governors joined a press conference to announce the policy to the public. All this happened on 26th October, 2022," the witness told the court.
However, under cross examination by Emefiele's lawyer, Mr. Olalekan Ojo, SAN, the witness confirmed that the apex bank's board had at its December 15, 2022 meeting, ratified the decision of the CoG on Naira redesign policy, saying, "This ratification is in respect of the redesigned Naira already in circulation."
Besides, the witness admitted that it was normal for the CBN Committee of Governors to implement approvals/requests from the president for actions that required the approval of the Committee of Governors and the Board.
He confirmed that other than the president’s approval for currency redesign, the CoG had in some instances implemented requests for
House C'ttee Decries Growing Migration of Health Workers
The House of Representatives Committee on Health Institutions has said that migration of health workers from Nigeria to other countries in search of greener pastures poses significant challenge to the nation’s health care system. The Minister of Health, Prof. Ali Pate also warned against duplication of health institutions across the country, saying it would be counter-productive to duplicate efforts especially in this era of scarce resources.
Speaking at a public hearing on 16 bills aimed at establishing health institutions, the Chairman of the Committee, Hon. Amos Magaji said that the core of the hearing was to provide guidance on the actualisation of the federal government's commitment to improving the health care sector through the wide distribution of
healthcare institutions in Nigeria.
Magaji said that as a result of the growing population, there was the need for reference hospitals closer to the people, particularly in rural and sub-urban areas.
He said the tertiary health institutions in Nigeria were designed to provide tertiary healthcare services to complement primary and secondary care in the national healthcare system.
He said this was in order to develop and expand the country's training institutions and ensure an equitable distribution of health manpower.
He argued that the mass exodus of health workers and professionals to other countries presents a significant challenge to Nigeria's healthcare sector.
“Recently, there has been an enormous migration of doctors, nurses and other health workers in search of greener pastures in other countries, leaving Nigeria's health sector severely
understaffed," he maintained.
“The need to reposition the healthcare sector to meet numerous emerging challenges is crucial to its improvement.
To succeed in this era, a system that is well invested on human resources and medical intelligence as the backbone of the health sector is required.
“The administrative appointment of capable persons based on merit in hospital management also has a role to play. Proper human resource management is critical to providing high-quality health care.
“ Effective human resource management strategies are critical for improving health-care outcomes and access in Nigeria. As arguably the most important of the health system inputs, the performance and benefits the system can deliver depend largely on the knowledge, skills, and motivation of those responsible for providing health services.
“It goes without saying therefore, that this aspect of our health sector must be invested in to ensure a thriving and performing sector. The structural quality of a health system is heavily influenced by its healthcare infrastructure.
“As we carried out oversight functions to healthcare institutions across the country since the inauguration of this committee, what are undeniably evident are infrastructural deficiencies of health services, lack of equipment resulting largely from inadequate funding of health institutions by the government, and a total lack of maintenance culture for equipment provided,” he stressed.
Represented by a Director in the Ministry, Dr. Jimoh Salahudeen, the minister said the ministry remains enthusiastic and supportive of every effort geared towards ensuring growth and progress in the health sector.
disbursement of funds to Niger Republic, Chad, Cameroon, and the Nigerian military for the country’s security prior to CoG and board approvals.
According to him, "Such (presidential) request would come to the governor. He would usually let the committee (CoG) know and it would be implemented before the board gets to know."
Meanwhile, Obiorah admitted that when he was invited for interrogation by EFCC, he never saw any documents from Buhari or any officials from the presidency complaining about the redesigned naira notes already in circulation.
The witness also told the court that one of the reasons for the naira redesign was to combat currency
trafficking and hoarding. At the end of his testimony, the court adjourned till December 4, for continuation of trial. In the four-count charge, marked FCT/HC/CR/264/2024, the antigraft agency claimed that Emefiele embarked on the naira redesign without the approval of the Board of the CBN as well as Buhari.
Specifically, EFCC accused Emefiele of approving the printing of various quantities of new Naira notes “without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria, which conduct of yours caused injury to the public and you thereby committed an offence”.
Journalist Institutes N25m Endowment Fund for Colleagues in NUJ Warri
Sylvester Idowu in Warri
Veteran journalist and businessman, Asiwaju Sola Adebayo on Tuesday evening presented a N25 million cheque to Warri Correspondent Chapel of the Nigerian Union of Journalists, Delta State, as endowment/welfare fund.
The fund was raised by Adebayo within six weeks with his friends making generous donations to enhance the welfare of journalists in the oil city of Warri.
Presenting the cheque to the Chairman of Warri Correspondent's Chapel Chairman, Comrade Okies Okpomor, Adebayo said it was part of his contributions to enhance the welfare of journalists in the state.
He charged the beneficiaries to judiciously utilise the fund and called on practicing journalists to make friends in the course of their practice and sustain the relationships.
He advised journalists to be dedicated and always uphold the tenets of the profession.
"As journalists, keep your friends. Journalism is a tool that makes you come in contact with people, therefore, make friends and sustain the relationship. Develop core friendship and don't sacrifice the
ultimate for the immediate. I appeal to all of you to be responsible," he said.
The renowned Journalist and Chairman of Lawal Iyanda Farms, recalled that the target for the project which commenced on Oct.1, 2024 was N10 million but expressed joy that the process was able to hit N25 million.
Adebayo expressed gratitude to his friends, associates and well-wishers for the success of the project adding "I want to sincerely appreciate all my friends who contributed generously towards this project. When we started the process, the target was N10 million. I am grateful, we exceeded the target," he said.
Presenting the dummy cheque of N25 million on behalf of Mr. Adebayo, the member representing Warri Federal Constituency in the House of Representatives, Rt. Hon. Thomas Ereyitomi, called on the public and good spirited individuals to imbibe the culture of giving and assisting one another and groups. The lawmaker who was highly elated noted that the ability to impact on peoples’ life was significant because a person would be remembered for his or her positive impact and legacies.
Juliet Akoje in Abuja
NBCC MEDIA BRIEFING...
Ondo: IG Orders Restriction of Vehicular Movements, Forbids Police Escorts for VIPs
Military deploys troops to state ahead of poll INEC starts to distribute sensitive materials Yiaga Africa tasks electoral body, security agencies on impartiality, group warns Wike Damagugu, Makinde, Bala, others wrap up campaign for Ajayi
Twenty-four hours to the start of the Ondo State governorship election, the Inspector General of Police, Kayode Egbetokun, has ordered restriction of all vehicular movements on roads, waterways, and other means of transportation.
The restriction, he said, would commence from 6am to 6pm on election day, with the exception of those on essential services, such as ambulances, media officials, fire services, and other accredited media.
At the same time, the Nigerian military has deployed troops in strength to provide assistance to the police in ensuring a hitch-free off-cycle governorship election in Ondo State
But the Independent National Electoral Commission (INEC),has begun the distribution of sensitive materials ahead of the election.
This, nonetheless, Yiaga Africa, has charged the INEC and security agencies participating in tomorrow’s governorship election to avoid partiality and favouritism.
In another breath, a group, the Ondo Freedom Movement, a
coalition of pro-democracy and good governance groups across Ondo State has condemned the comments by the Minister of Federal Capital Territory, Nyesom Wike, on the Ondo State governorship election scheduled for Saturday.
However, speaking on the restriction order, Egbetokun said it was part of efforts to guarantee peaceful, transparent, and credible electoral process during the upcoming Ondo off-circle elections.
He also ordered the prohibition of security aides and escorts attached to VIPs from accompanying them to polling booths and collation centres to prevent disruptions.
A statement by the Force Spokesperson, ACP Olumuyiwa Adejobi, said, the IG also deployed DIG Sylvester Alabi as the coordinating DIG for the elections.
Alabi is tasked with overseeing the implementation of the police security strategies to maintain law and order throughout the electoral period, while AIG Bennett Igweh, and CP Tunji Disu were also deployed as AIG and CP elections respectively.
Announcing the comprehensive security measures aimed at ensuring
Oborevwori
a peaceful, transparent, and credible electoral process during the election, Egbetokun reiterated his earlier position that unauthorised security personnel and quasi-security agencies would not be permitted to operate during the exercise, and a strict ban on the use of sirens by unauthorised vehicles would be enforced.
Special consideration, he added, would be extended to individuals with disabilities, pregnant women, nursing mothers, and those facing mobility challenges to ensure that polling stations remained accessible.
"Designated election lines have been established for inquiries and reporting incidents. These lines will be publicised as soon as possible," he said.
Reaffirming their commitment to fostering a safe and democratic environment as the state gears up for the election, the police chief urged citizens to report all suspicious activities that could threaten the integrity of the electoral process.
The Police, Egbetokun stated, would be working with the military and other federal security agencies as collaborative efforts from all stakeholders were vital to ensuring that the elections are conducted fairly and peacefully.
Presents N936bn
Military Deploys Troops to Ondo
The Nigerian military has deployed troops in strength to provide assistance to the police in ensuring a hitch free off-cycle governorship election in Ondo State.
The military also said troops' presence during the election was to ensure security of citizens to enable them cast their votes without any form of harassment or intimidation, while keeping mischief makers at bay.
A statement by Director Defence Media Operations, Maj Gen Edward Buba, also disclosed that the Nigerian Air Force (NAF), was already engaged in flying sensitive electoral material in support of INEC.
He noted that troops across all theatres of operations killed no fewer than 88 terrorist and arrested 228 others during the week under review.
He further disclosed that troops discovered and dismantled 59 illegal refining sites, arrested 40 perpetrators of oil theft and rescued 181 kidnapped hostages.
He averred that troops recovered 942,420 litres of stolen crude oil, 175,075
2025 Appropriation Bill to Delta Legislature
Governor Sheriff Oborevwori has presented an Appropriation Bill of N936.078 billion for the 2025 fiscal year to the Delta State House of Assembly in Asaba, on Thursday.
He told the lawmakers that the budget, christened ‘Budget of Fiscal Consolidation,’ comprised recurrent expenditure of N348,717,758,635, billion representing 37.25 percent of the total estimates, and projected capital expenditure totaling N587,361,060,084, representing 62.75 percent of the total budget.
The 2025 Budget is approximately N211 billion more than the 2024 budget of N725 billion, an increase
of about 29 percent, he explained, adding that improved internally generated revenue (IGR) partly accounted for the increase.
He said that the realignment of the exchange rate, which resulted in higher FAAC allocations and associated revenues, also contributed significantly to the increase in the budget size.
According to the governor, higher FAAC allocations was followed by "a corresponding improvement in our Internally Generated Revenues in the year", noting that budget estimates were also advised by his administration's desire to further cushion the effects of the fuel subsidy removal.
He pointed out that the budget estimates took into cognisance the key elements encapsulated in his administration's M.O.R.E development blueprint underlined by prudent management of resources.
Ob'owiè said: "The 2025 budget contains several initiatives planned to cushion the effects of fuel subsidy removal on our people and the attendant economic challenges it has brought upon us.
"These include deliberate provisions to strengthen our social protection interventions and safety nets, basic rural infrastructure, agriculture and food security, agro value chain, and MSMEs.
"The 2025 Budget focuses on
continued provision of physical infrastructure, human capital development, job creation, wealth creation, and poverty reduction in our dear state.
"The state government intends to achieve these through prudent management of our resources and prioritizing expenditures on health, education, agriculture, water resources, environment, housing as well as women and youth empowerment programmes.
“In 2025, we propose to spend N230 billion on Road Infrastructure; N67.42 billion on Education; Health will gulp N30.55 billion; Water Resources N11.03 billion and Agriculture, N7 billion."
litres of illegally refined AGO and 4,980 litres of PMS.
"Troops in the Niger Delta area discovered and destroyed 13 crude oil cooking ovens, 20 dugout pits, 73 boats, 25 storage tanks and 59 illegal refining sites.
“Other items recovered include three barges, seven speedboats, 73 drums, one tricycle, five pumping machines, three mobile phones and nine vehicles among others."
INEC Distributing Sensitive Materials
INEC in Ondo State, has begun to distribute sensitive materials ahead of the governorship election this weekend. The Resident Electoral Commissioner, Mrs. Toyin Babalola, who monitored the exercise, held at Akure branch of Central Bank of Nigeria (CBN), assured residents, political parties and all stakeholders of the commission’s readiness to conduct transparent, free and fair election. She noted that the early distribution of the sensitive materials was to show
Continued on page 34
Ogun's 250-bed Hospital Starts Operations March 2025, Says Abiodun
James Sowole in Abeokuta
Ogun State Governor, Prince Dapo Abiodun, has said that the 250-bed hospital abandoned by the previous administration, located at Oke-Mosan, Abeokuta, would be partially opened in March 2025, while full operations would begin in June of the same year.
Abiodun disclosed this on Thursday, at the handing over of the hospital to Viewpoint Health Management Services Limited and Pan African Capital Holdings at his office in Oke-Mosan, Abeokuta.
He said the specialist hospital, which is currently about 65 per cent complete was inherited from the previous administration and would provide world-class health services to Nigerians when completed.
Abiodun said: "This hospital will meet the precise needs of our population. It is scheduled for partial opening in March 2025 and full operations in June 2025.
"We are resolute in our mission to ensure this world-class facility serves the people of Ogun State. Following a rigorous process of months of negotiation, we are excited to finally close the concession partnership for this hospital.
"This hospital facility is an ongoing
development in partnership with Viewpoint Health Management Services Limited, which is in partnership with HealthShare South Africa, a very reputable hospital management company. This stands as a testament to our shared commitment to delivering state-of-the-art healthcare to our people.
"Unlike a fixed 250-bed designation, Viewpoint will complete all civil works, reconfigure the facility, provide other required additional equipment, staff, and manage the hospital to ensure it operates in line with global best practices.
"As per the contractual agreement, the completion of this hospital’s physical structure and equipment setup will be managed by Viewpoint Health Management Services Limited, who will also operate the facility for a stipulated period. We will work tirelessly alongside them to provide world-class healthcare for our people."
The hospital, Governor Abiodun emphasized, would be equipped with advanced facilities and cutting-edge technology for effective healthcare delivery, as well as serve as a referral centre for medical research, training, and innovation.
Omon-Julius Onabu in Asaba
Fidelis David in Akure, Linus Aleke in Abuja
L-R: Member Presidential Dinner & Awards Committee, Nigerian-British Chamber of Commerce (NBCC), Nireti Adebayo; Vice Chairman, Presidential Dinner & Awards Committee, Nike Ibirogba; Chairman Presidential Dinner & Awards Committee, Tajudeen Ahmed; Director-General, Ebere Njoku, and Member Presidential Dinner & Awards Committee, Ikenna Nwosu, during a press conference heralding NBCC's upcoming Presidential Dinner and Awards ceremony held in Lagos..recently
REMAINS OF LIEUTENANT GENERAL TAOREED LAGBAJA...
Admiral Superintendent, Naval Ordnance Depot, Rear Admiral Livingstone Izu and other generals conveying the remains of the Late Chief of Army Staff, Lieutenant
and boots to the foot of the Nigerian Air Force
Lagos Dep. Gov, Generals, Others Pay Last Respect to Late Chief of Army Staff Lagbaja
Chiemelie Ezeobi in Lagos and Kemi Olaitan in Ibadan
Lagos State Deputy Governor, Dr. Obafemi Hamzat and generals from the three arms of the Armed Forces, yesterday, paid their last respects to the late Chief of Army Staff (COAS), Lieutenant General Taoreed Abiodun Lagbaja. The last respects were paid at the Nigerian Air Force wing of the Murtala Muhammed International
ONDO:
IG
ORDERS
Airport in Lagos, where the remains of the 23rd COAS were flown to Abuja for his onward journey to mother earth today..
For the procession, soldiers of the Guards Brigade received the body while top military officials accompanied the body draped with his service shoes, sword and the Nigerian flag to the foot of the NAF 918 C-130 aircraft. With the beagle playing, it was a
sombre mood as the deceased was sent off with a final salute as the aircraft taxied off the runway and into the skies.
His move to Abuja came following the flurry of condolences recorded in the register and respects paid to him at the 81 Division of the Nigerian Army, as well as the 9 Brigade, where he once served as commander in his career trajectory. Paying their last respects were
RESTRICTION OF VEHICULAR
security personnel from sister services, as well as Nigerian Army Officers Wives Association (NAOWA).
Lagbaja’s death was announced last week by President Bola Tinubu, who said the late COAS passed away in Lagos after a period of illness.
Born on February 28, 1968, Lagbaja served as the Chief of Army Staff for one year and four months following his appointment on June 19, 2023 and subsequent taking over of office on
MOVEMENTS, FORBIDS POLICE ESCORTS FOR VIPS
that the commission was ready for the election, promising that the commission would be transparent in the conduct of the election.
Babalola explained that the materials would be moved to the 18 local governments areas with the help of security agencies.
Her words: "You can see that the distribution exercise is going on very smoothly. The farthest local governments have started moving to their local governments.
“All the other local governments have received their materials, they are checking and they are loading the vehicles. I'm sure in another one and a half hours, we should be out of it.
“You can see the logistics we are distributing today and this is just 10 minutes after 12PM, the vehicles are already moving. Ilaje has left, Ese-Odo has left, Okitipuwa and Irele are loading. They will soon leave.
“Then we move to the next set, Akoko North-East, North-West, Akoko South-West, South-East, Owo and Ose have collected their materials and they will leave any moment from now.
“Then Odigbo, Ondo-East, OndoWest, Ifedore axis are leaving. We are on course. We are moving. The movement is not local government by local government. We are doing simultaneous movement.
"The difficult terrain on water are in Ilaje and Ese-Odo and we have identified those areas and we are going to have boats that will transport men and materials. We also have the support of the Navy. They are giving us gunboats to secure the movement.
"For the land where we have difficult terrain, we will move out to the place where vehicle can reach and we will continue the rest with suitable means of transportation."
While appealing to the political parties to eschew violence on election day, the REC said the sensitive materials were being distributed to ensure that no ward or polling unit was omitted or did not get materials for the election.
The Chairman of APC in the state, Ade Adetumehin and the State Chairman of Inter -Party Advisory Council (IPAC), Mr. Adesanya Olaoluwa, commended the INEC for their transparency in the exercise, saying all the parties were ready to cooperate with the commission.
Meanwhile, representatives of the political parties participating in the election and security agencies including the Police, NSCDC, FRSC, Immigration, Customs and DSS were at the venue of the exercise.
Yiaga Africa Tasks INEC, Security Agencies
Yiaga Africa has charged the INEC and security agencies participating in Saturday's governorship election in Ondo State to avoid partiality and favouritism.
Chairman for the 2024 Ondo Election Mission, Yiaga Africa, Mr. Ezenwa Nwagwu, while speaking during its pre-election press briefing in Akure, urged INEC to ensure election materials arrive early at the polling units.
His words: "We urge the Independent National Electoral Commission (INEC) to enhance coordination and communication with the transport companies and unions that provide logistics support.
“It is essential to ensure the timely delivery of materials to the Registration Area Centers (RACs) and to facilitate the early deployment of materials and
personnel to polling units on election day.
"This approach will help to address the issue of late commencement of polls that has been observed in previous elections."
Security agencies were charged to arrest anyone caught engaging in vote-buying and selling for prosecution to stamp out the menace.
Nwagwu noted that the act of vote-buying and selling by politicians has greatly undermined the election process in the country.
Ondo Freedom Movement Warns Wike
A coalition of pro-democracy and good governance groups across Ondo State, the Ondo Freedom Movement, has condemned the comments made by the Minister of Federal Capital Territory, Nyesom Wike, on the Ondo election. The movement also condemned the statement by Wike which attempted to disdain the efforts by well-meaning leaders and democrats, including Governor Seyi Makinde of Oyo State, to deepen democracy, galvanise the electorate and ensure that only the Will of the people of Ondo prevailed at the election.
In a statement by Comrade Ayodele Idowu, Coordinator, Ondo State Freedom Movement, said, "It is apparent that Governor Makinde’s efforts alongside other trusted leaders in projecting and boosting the popularity of the candidate of the Peoples Democratic Party (PDP) Hon. Agboola Ajayi, is sending shockwaves to All Progressives Congress (APC) and its candidate, the outgoing Governor Lucky Aiyedatiwa ''The comment by Chief Wike wherein he stated that, ‘I pity my friend
Seyi who is there struggling to see that he gets a brother or brothers in the South West. He is doing all he can. In fact, I don’t know how it will work’ has heightened public apprehension over allegations of plots by the APC to manipulate the election and subvert the Will of the people, a plot which our movement is ready to firmly resist.
''Our response to Chief Wike is that Ondo is not Rivers State and that the control of civil activities including the outcome of Saturday’s election is exclusively on the people of Ondo State, whose Will alone will triumph in the election.''
Damagugu, Makinde, Bala Others, Wrap Up Campaign for Candidate Agboola Ajayi
The Acting National Chairman of the Peoples Democratic Party (PDP), Ilya Damagun, yesterday led five governors and leaders of the party to Ondo State, with a vow to win Saturday's governorship election in the state.
The governors present at the rally were Seyi Makinde (Oyo),Ademola Adeleke (Osun), Duoye Diri (Bayelsa), Caleb Mutfwang (Plateau), and Bala Mohammed (Bauchi).
Speaking at final rally to wrap up campaign for its candidate in the poll, the PDP Chairman charged the people of coastal state not to be threatened or intimidated from exercising their civic responsibility, asked them to defend their votes.
He charged the electorate to defend their votes on Saturday to ensure that the PDP candidate in the governorship election emerged victorious in the election.
June 23, 2023
Mostly famed for how he decimated the bandits, cattle rustlers, and terrorists that operated mostly in Kaduna, Niger, Kebbi, and other North West states, the late COAS was able to do this because of the extensive operational training in land, airborne and amphibious warfare.
Also, his grasp of the war against terrorism and insurgency was a huge plus as he played pivotal roles in numerous internal security operations, including Operation ZAKI in Benue State, Lafiya Dole in Borno, Udoka in Southeast Nigeria, and Operation Forest Sanity across Kaduna and Niger States.
Meanwhile, the Command Secondary School, Ipaja, Lagos Old Students’ Association (CSSLOSA), has sympathised with the Nigerian Army and the family of Lagbaja.
A statement by the alumni President, Taiwo Ayedun and General Secretary, Anthonia Eke, and made available in Ibadan, by
the Publicity Secretary, Demola Sanyaolu, acknowledged tremendous contributions of Lagbaja to the nation and their alma mater.
The association, in a letter addressed to the Acting Chief of Army Staff, Lt.-Gen. Olufemi Olatunbosun Oluyede, described Lagbaja’s death as a significant loss, not only to his family and the Army but to the entire nation.
Commending Lagbaja’s dedication towards the nations advancement, it stated, "The leadership and entire membership of the Command Secondary School Lagos Old Students’ Association (CSSLOSA) are deeply saddened by the sudden passing of Lt.-Gen. Lagbaja. "He served with honour and distinction, making his absence deeply felt across the country.” The association also lauded Lagbaja’s enduring support for Command Secondary School, Lagos, and extended their sympathies to his family.
NCTC: Media Shouldn’t Help Terrorists Spread Fear
Linus Aleke in Abuja
National Counter Terrorism Centre, Office of the National Security Adviser (NCTC-ONSA), yesterday, appealed to local and international media outlets operating in the country not to help the new terrorist sect, Lakurawa, spread fears amongst the citizens.
It stressed that terrorism thrives by spreading fear amongst the populace.
Lakurawa is a new terrorist sect that infiltrated remote communities in Sokoto and Kebbi states, Northwest, Nigeria.
National Coordinator, National Counter Terrorism Centre, Office of the National Security Adviser ((NCTC-ONSA)), Maj Gen Adamu Laka, made this appeal while, briefing journalists on the government's efforts at curbing the new waves of terrorism by Lakurawa terror group in Sokoto State and other parts of the North-eest Nigeria.
This was as the Chief of Defence Staff (CDS), Gen Christopher Musa, has tasked the Defence Intelligence Agency (DIA) to make use of
Artificial Intelligence to advance national security.
Responding to questions, Laka observed that “the major thing that the terrorists are trying to do, and maybe we are also assisting them was to spread fear,” saying this was because people were already afraid of what was likely going to happen.
"That's it. But the government will continue to embark on sensitisation of its people, to let them know the real situation and I guarantee you that the National Security Advisor is on top of this issue.
“Very soon, it will be a thing of the past. The way he has addressed the issue of banditry in the Kaduna, Abuja, Lokoja area, we are building on our successes," he said. Laka had earlier stated that since the emergence of this unwholesome group, the minister of defence, the CDS and other service chiefs had met at several time and concrete steps based on informed decisions taken to completely wipe out members of this group or any other from Sokoto State and Nigeria at large.
General Taoreed Lagbaja, draped in the Nigeria flag, his service sword
Aircraft in Lagos before it was flown to Abuja, yesterday
HANDOVER OF 250-BED OGUN STATE SPECIALIST HOSPITAL TO CONCESSIONAIRE...
L-R: Chairman Healthshare, Dr, Tony Decoito; Managing Director Afrilife, Patience Ugbaja; Group Managing Director, Pan African Capital Holdings, Chris Oshiafi; Ogun State Governor, Prince Dapo Abiodun; his Deputy, Engr. Noimot Salako-Oyedele; Commissioner for Health, Dr. Tomi Coker and the state Director General, Public Private Partnership, Barr, Dapo Oduwole, during the handover of the 250-bed Ogun State Specialist Hospital to the concessionaire at the Governor's Office, Oke-Mosan, Abeokuta on Thursday.
2027: Atiku Returns Wike’s Punches
Chuks Okocha in Abuja
Former Vice-President Atiku Abubakar, has responded to comments by the Minister of the Federal Capital Territory (FCT), Nyesom Wike, about the 2027 presidential ticket of the Peoples Democratic Party (PDP).
Wike had previously stated that Atiku would not be allowed to run as the PDP’s presidential candidate in 2027.
Speaking in Abuja on Wednesday, Wike said, “He is lobbying for another chance, but the chance will not be there. In which party? How can we rely on one man for so many years?”
He emphasised that Atiku had
no prospects of becoming the candidate again in 2027
In his response, Atiku, through his Special Assistant on Public Communication, Phrank Shaibu, reminded Wike of their past encounters, particularly during the 2019 election.
Atiku pointed out that Wike would have tried to claim the presidential ticket for himself if he had the power to distribute it.
“If he had the power to distribute presidential tickets like party favours, he’d certainly have kept one for himself. After all, Atiku thoroughly schooled him and his chosen protégé in his own backyard ahead of the 2019 election and then handed him a resounding defeat in the
2023 primaries in Abuja,” he added.
Shaibu also questioned Wike’s focus on the 2027 election, especially when he has publicly stated that Bola Tinubu was destined to win.
He suggested that Wike should be more concerned about the urgent issues Nigerians faced, such as the rising cost of living and hunger, rather than early political moves for the next election.
“This hunger is becoming unbearable; it’s what we should be addressing, not political maneuvers for 2027.
''Were he (Wike) endowed with the power to dole out presidential tickets as casually as
one might hand out popcorn, it is certain he would have reserved one for himself.
''After all, Atiku, in his formidable wisdom, utterly humbled him and his favoured disciple in their own stronghold ahead of the 2019 election, only to deliver him a crushing defeat once more in the 2023 primaries in the hallowed streets of Abuja.
''Yet, despite his open declaration that Tinubu is the destined victor of 2027, here he stands, consumed with an obsession over who shall wear the PDP’s mantle in the next election.”
''But, pray, is it not too early for such preoccupations? Our eyes should be fixed on the
HURIWA to Ribadu: Terrorists Not Daring Tinubu But Nigeria’s Corporate Existence
Chuks Okocha in Abuja Human Rights Writers Association of Nigeria (HURIWA), has advised the National Security Adviser, Malam Nuhu Ribadu, to as a matter of national interest and concern, keep political theatrics aside while confronting matters of national security interest.
HURIWA particularly faulted the open display of partisan politics by the NSA, for viewing
activities of terrorists as mere ‘rivals’ of President Tinubu, whom he said the anti-social elements were ‘daring’.
The human rights organisation stressed that it was an irreparable fallacy and a distorted thinking for Ribadu to assume that the killings, maiming Nigerians in different parts of the country by the armed non-state actors were just ‘daring’ the person of President Tinubu.
HURIWA lamented the
introduction of political showmanship into the national conversations about terrorists, bandits, outlaws and well-armed non-state actors by the NSA.
In a statement by the National Coordinator of HURIWA, Comrade Emmanuel Onwubiko, he further noted that national security interest was beyond mere political circus show.
Quoting the NSA that nobody dares President Tinubu and remains the same, warning the
new terror group, Lakurawa, of making the mistake of invading parts of the northwest, HURIWA said the situation was not a personal matter.
It further said that this came on a day the Chief of Defence Staff (CDS), General Christopher Musa, deployed a contingent of soldiers to the troubled Augie Local Government Area of Kebbi State where no fewer than 17 people at Mera village were killed by members of the terror group.
Court Reinstates Dismissed Varsity Lecturer, Awards Him N40m Compensation
Hammed Shittu in Ilorin
The National Industrial Court in Akure, Ondo State, has ordered the reinstatement of a former acting Dean of the Faculty of Arts, Federal University, Oye Ekiti (FUOYE), Prof. Niyi Akingbe.
The court also ordered the management of the institution to pay N40million to Akingbe as compensation.
Akingbe was wrongfully dismissed by the management of FUOYE in 2018 based on unfounded allegations of plagiarism.
According to the court ruling, "The court found that Akingbe's termination in 2018 was not only unjust but also based on unfounded allegations of plagiarism."
Akingbe, who had been a vocal critic of the university's administrative practices under former Vice Chancellor Kayode Soremekun, was dismissed following a query related to plagiarism.
The court proceedings, documented under Suit No: NICN/AK/58/2018, revealed
that the university failed to adhere to proper procedures outlined in the Federal University of Oye-Ekiti Act of 2015 and the relevant regulations governing senior staff service conditions.
Counsel for Akingbe, Ademola Olowoyeye, argued that the allegations of plagiarism were vague and lacked substantial evidence.
The court also addressed several other declarations, including the illegality of the letters accusing Akingbe of misconduct and the unlawful
nature of the Staff Disciplinary Committee that investigated the plagiarism claims.
The Counsel emphasised that Akingbe had met all requirements for promotion to the position of Professor in the Department of English, and the denial of this promotion based on unsubstantiated allegations was deemed unlawful.
Delivering his ruling, the trial judge, Justice K.D. Damulak, ordered FUOYE to pay Akingbe within 30 days of this judgment; otherwise, the sum shall attract a 10% interest per annum.
pressing plight of the people – the soaring hardship, the ever-deepening hunger that grips the land.
“Nigerians are perishing daily
under the weight of this crisis, and it is this dire condition that demands our urgent attention, not the machinations of politics two elections away,'' he stated
Artistes Plan Abuja Mega Music Festival Ahead of National Youth Conference
Sunday Aborisade in Abuja
A group of hip-hop artistes and rappers under the auspices of AntiWorld Gangstars (AWG), said they have concluded arrangements to hold an earthshaking three-day festival in Abuja ahead of the much-anticipated National Youth Conference being planned by the federal government. They said the platform would be an opportunity to engage the youths from all walks of life in meaningful dialogue on how to contribute their quota to the growth and development of the country.
A trailblazing artiste, Tochukwu Gbubemi Ojogwu, popularly known as Odumodublvck, who addressed journalists yesterday in Abuja, alongside members of the AWG said the festival will start on December 19 with a workshop while the AWG all-stars football match would take place same day.
The talented rapper said the festival would continue on December 20 with a concert and would be rounded up on December 21 with an event tagged, ‘AWG Brunch’.
He said the AWG Fest was intended to bring all the youths in the country together and mobilise them to engage in positive energy that could make them transform Nigeria into a great, industrious nation.
Odumodublvck said: “We’re at a turning point, not just in music or culture, but as a generation. There’s an urgency now, more than ever, for us as young people to stand together, united.
“We see the challenges – they’re in our faces every day. But we also see the potential, the raw talent, the passion that exists within us.
“This isn’t the time to be divided. This is the time to recognize that we have power when we’re together.
“AWG Fest is more than just a concert or an event – it’s a place where we can connect, inspire each other, and work toward a shared
vision for the future.”
He said the festival would serve as gathering where young Nigerians would freely express themselves and propose what they feel could move Nigeria into a prosperous nation that would benefit the citizenry.
He said: “Recently, we’ve heard talk about a Youth Conference from the government, a space where we, as the youth, can address our concerns and work on solutions.
“However, we’re still waiting for that promise to come to life. The timeline hasn’t been set, and meanwhile, the issues we face aren’t on pause.
“The world isn’t slowing down, and neither should we. So, if they can’t give us the platform, we’ll build our own. That’s why AWG Fest matters.
“It’s not just about the music – it’s about making connections, starting conversations, and laying down foundations for something bigger than ourselves.
“Through AWG Fest, we want to give the youth a place where they can come together, not just to celebrate but to start building relationships that can last, that can inspire change.
“Our goal is to create a community where we’re lifting each other up, where we’re not just spectators in our own story but the writers of it. We want to encourage creativity, inspire unity, and give space for voices that need to be heard.”
Odumodublvck explained that when the youths come together, they would have the chance to transform frustration into action, and challenges into opportunities.
He further said: “We can go beyond just talking about problems – we can brainstorm ideas, share knowledge, and find ways to push forward together.
“This festival is about showing that our unity is powerful, that we can build something meaningful without waiting for someone else to set the stage for us.
EMBER MONTHS CAMPAIGN…
L-R: Corporate Relations Director, Guinness Nigeria Plc, Rotimi Odusola; Sector Commander, Federal Road Safety Corps(FRSC), Lagos State Command, Commander Kehinde G. Hamzat; Managing Director, Guinness Nigeria Plc, Girish Sharma; Deputy Corps Commander, representing the Zonal Commanding Officer FRSC, Emma Ero Ifekoya, and Deputy Director, Ministry of Special Duties, representing the Commissioner of Special Duties, Olumide Williams, at the town hall session for the flag-off of the Ember Months Campaign held in Lagos... recently
Stakeholders Move to Tackle National Grid, Building Collapse
Ayodeji Ake
Members of the Institute of Non-Destructive Testing (INDT), recently converged on Lagos to brainstorm workable solutions to prevent public infrastructures from collapsing.
Speaking at a two-day conference of the Institute Nigeria themed, ‘The Role of Non-Destructive Testing in
Preserving and Optimising Critical National Assets and Infrastructure’, the President of INDT, Michael Adegbite, said functional infrastructure was imperative for the optimum performance of industrial plants and manufacturing and for providing services that support the entire.
“This is a testament to INDT being a learning community that
NSCDC Arrests Three Vandals in Kogi
Ibrahim Oyewale in Lokoja
The Kogi State Command of the Nigeria Security and Civil Defence Corps (NSCDC) has arrested three suspects for alleged criminal conspiracy and vandalism.
While parading the suspects at the command headquarters in Lokoja, the Kogi State Commandant of NSCDC, Esther Akinlade, explained that the crime was committed on October 7 and 20 in Ankpa, and Isanlu in Yagba East Local Government Area of the state respectively.
She pointed out that the arrest was made possible by the joint effort of security guards and
officers of the Corps.
Akinlade maintained that one of the suspects, Agbo Christian, 33, from Enugu State and others currently at large vandalised armoured cables within the premises of the Nigerian Television Authority (NTA), Ankpa.
Akinlade stated that Agbo was later arrested by the security guard guiding the premises on the second operation which was carried out on October 18, 2024, while others who are currently at large ran away. Exhibits such as saw, chisel, spanner etc. to be used to vandalise were recovered from Agbo and he confessed to the crime.
Glo Holds First Promo Draw in Warri
Digital Services and telecommunications company, Globacom, yesterday in Warri, Delta State, held the first draw to select winners in its on-going consumer promotion, Festival of Joy.
The promo was launched recently by the company to give opportunity to new and existing customers to win outstanding prizes.
The draw, which precedes the prize presentation exercise, was conducted at Gloworld, Delta mall, in the presence of many Glo subscribers and members of the media. It also had in attendance the representative of National Lottery Regulatory Commission (NLRC), Mr. Anwyuli Efejukwu.
According to Globacom, the lucky winners will receive their prizes on November 21, 2024, at the same Gloworld. It added that “they include the winner of a brand new Toyota Prado and winners of tricycle, sewing machines, generators and grinding machines.”
To join the promo, the company advised new and existing subscribers to dial *611# to opt into the promo and to keep recharging (voice and data) during the promo period in order to be eligible to win the prizes on offer. “New subscribers can participate immediately by purchasing a new SIM, registering it and dialing *611#.
Kaduna Trains 5,000 Women in ICT
John ShiklaminKaduna
The Kaduna State Government has said it has trained over 5,000 women in Information and Communication Technology (ICT).
The state Governor, Uba Sani, disclosed this yesterday in Kaduna at a stakeholders’ engagement on the draft bill on National Digital Economy and e-Governance Bill organised by the Federal Ministry of Communications, Innovation and Digital Economy.
The governor, who was represented by Patience Fakai, state commissioner for Business, Innovation and Technology, said his administration has “collaborated
with Data Science Nigeria (DSN) and Google in the programme, ‘Arewa Ladies4Tech’, to train over 5,000 women across the state in ICT.
He said: “As a result, most of these ladies have become gainfully employed, some internationally, which they work from the comfort of their homes.’’
He added that Kaduna State has “launched the AI4All, an initiative meant to bring AI to Hausa speakers across Nigeria and beyond, through a series of short lessons on AI in Hausa language which are downloadable from the National Information Technology Development Agency (NITDA) site and shareable with others by phone.’’
is solution driven, continuously improving quality and constantly seeking ways/means of ensuring asset integrity. Today, our nation is bewildered by a vast infrastructure deficit crucial for
sustainable industrial growth and economic development.
“This is further exacerbated by frequent failures and collapse of the few existing assets, which are mostly aged and have contributed
immensely to industrial growth and socio-economic relevance among the League of Nations,” he stated.
According to him, the conference was aimed at
deliberating on issues and challenges eroding productivity, performance efficiency, and nationhood, noting that workable solutions, bankable ideas and innovations would be provided.
FG Pledges to Improve Road Infrastructure across the Country
Laleye Dipo in Minna
Faced by a huge number of dilapidated roads across the country, the Minister of Works, Senator David Umahi, has assured Nigerians of the determination of the federal government to improve these infrastructure.
Umahi gave the assurance when he joined the Niger State governor to inspect the dualisation
of the Suleja-Lambatta road.
“The federal government remains poised to improve road infrastructure across the country” Umahi told Governor Mohammed Umaru Bago during the inspection.
The minister commended the governor for the massive road construction his administration is carrying out in the state, stressing that “road infrastructure is
the shortest way to economic development of any community.”
Governor Bago had told the minister that the state government embarked on the dualisation of the Suleja - Lambatta road to decongest and develop the town.
The minister had earlier taken part in the Town Hall meeting held on the 1068 kilometer Sokoto to Badagry super highway to be constructed by
the federal government, saying the project will boost the nation’s economy.
Speaking at the town hall meeting held at the Justice Idris Legbo Kutigi International Conference Centre in Minna, Umahi added that the project would also “stimulate economic activities along the route, bringing direct benefits to local residents and businesses.”
Banditry: Katsina Women, Youths Trained on Entrepreneurial Skills
Francis Sardauna inKatsina
In a bid to accelerate the economic inclusion of women and youths affected by banditry in Katsina State, the Centre for Democracy and Development (CDD) has trained 100 women and youths on viable entrepreneurial and agricultural skills in the state.
The beneficiaries, selected
across communities affected by the nefarious activities of bandits in Batsari, Jibia, Kankara and Danmusa Local Government Areas, were trained on tailoring, tie and dye, carpentry, agriculture, shoe making, welding and fabrication.
The livelihoods intervention tagged: ‘Empowering Communities through Practical Skills: Building Resilience and Promoting Sustainable
Livelihoods for Youth and Women in Batsari, Danmusa, Jibia and Kankara’, was carried out under the CDD’s Conflict Mitigation and Community Reconciliation in North West Nigeria (CMCR) project.
The CMCR project, funded by the European Union (EU), is being implemented in the four-banditry affected local government areas of the state with support from the International Organisation for Migration (IOM) and Mercy Corps. Speaking during the training, the CDD’s Programme Manager of the CMCR project, Kolawole Ogunbiyi, said the trainees would be supported with sewing machines, salon equipment, irrigation farming equipment, livestock and welding machines to liberate them from the shackles of poverty.
Alleged Defamation: Court Adjourns Falana’s Suit against Online Activist to January 23
Wale Igbintade
An Ikeja High Court yesterday reserved January 23, 2025, for the hearing of a defamation suit filed against controversial online activist Vincent Otse, widely known as VeryDarkMan (VDM).
The defamation claim was brought forward by prominent Nigerian lawyer, Femi Falana (SAN), and his son, popular musician and lawyer, Folarin Falana, known as Falz.
During yesterday’s proceedings, Mr. Muiz Banire (SAN), counsel for the claimants, informed the court that the originating process had been filed and served to all parties involved.
Banire also noted that a motion on notice was served on October 25. However, Justice Matthias Dawodu observed that the originating process was not properly before the court.
He requested the court adjourn the matter to allow the claimants’ legal team to file the necessary administrative processes.
“In this circumstance, my lord, the best thing to do is to adjourn the matter so we can go back to the registry to file all the administrative processes,” he said. In response, VDM’s counsel, Mr. Marvin Omorogbe, pointed out the absence of a valid writ of summons before the court.
Lagos Deputy Gov to Headline 85th Anniversary Lecture of The Crescent Bearers
Deputy Governor of Lagos State, Obafemi Hamzat, will be the Special Guest of Honour at the lecture commemorating the 85th anniversary of the Crescent Bearers (1939), Lagos, an association of like minded gentlemen of Lagos origin founded back in 1939 by young Muslim men from Lagos Island . The event, which combines
with a luncheon, will be chaired by Professor Tajudeen O. Gbadamosi of the University of Lagos while an Islamic motivational speaker and Head of Administration at New Horizons College, Niger State, Mrs. Maryam Lemu, will deliver the keynote lecture with the theme: Islam and Family Values – Building ANation of Citizens. According to a statement, as part of the celebration, a Jumat service will hold today, Friday November
15, 2024 at the Crescent Bearers (1939), Lagos Masjid in Abijo, off the Lekki Epe Expressway, Lagos.
“The vision of the association was driven by a desire to “promote western education for Muslims for their collective improvement and upward social mobility in a colonial society in which Muslims not only experienced marginalisation but were also typically held up to ridicule and suffered social opprobrium
for their religious beliefs and cultural attachments.”
With this objective in mind, a group of 16 young Muslim men who came from families indigenous to Lagos Island, founded The Crescent Bearers on November 11, 1939. The founding fathers were Mobolaji Odunewu, S.M. Onigbanjo, I.A.S. Adewale, A. Fatayi-Williams, M.R.B. Ottun, M.N. Ola Aboaba, M.O. Ekunsumi, N.A. Kekere-Ekun and R.A. Gbajumo.
Group Commends President Tinubu for New NNPCL Appointments
The South-South Initiative for Better Nigeria (SSIBN) has commended President Bola Tinubu for three key appointments in the Nigerian National Petroleum Company Limited (NNPCL).
In a statement signed by the National Coordinator of SSIBN, Mr. Jack Akpvwoghene and Programmes Manager, Ebitare Wellington, the group praised the president for his commitment to the development of the Nigerian oil sector.
It said the recent appointments
into key management positions of the NNPCL demonstrated the president’s resolve to strengthen the company’s operational efficiency and boost its competitive edge in the global oil and gas industry.
“These significant appointments are a testament to your unwavering commitment to the Nigeria oil and gas sector in ensuring it meets international standards and boosts Nigeria’s potential as far as the Oil and Gas Industry is concerned.
“As we celebrate these appointments, we look forward to their continued efforts in driving impactful policies and programs that will further uplift the oil and gas sector of the country,” it said.
“The appointments of Mr. Isiyaku Abdullahi as Executive Vice President, Downstream, Mr Udobong Ntia as the Executive Vice President Upstream, and Mr. Adedapo A. Segun, appointed as the Chief Financial Officer (CFO) cannot come at a time other than now as it shows the unwavering
support of Mr. President in taking the Nigeria Oil and Gas sector to a greater height in the global Oil and Gas industry,” the statement said.
The appointment of Ntia Udobong Kokoete could not have come at a better time as it reminds us in the South South of the good days of Adokiye Tombomieye as EVP upstream who was able to manage internal affairs of the Niger Delta region, helping the GCEO, Mele Kolo Kyari to have a smooth relationship with youths in the region.
YusufEbiti
FIRS AT LAGOS TRADE FAIR...
Representatives of the Federal Inland Revenue Service at the International Trade Fair held in Lagos...recently
Air Peace Aborts Flight over Bird Strike
Chinedu Eze
Air Peace flight destined to Abuja from Lagos, aborted flight while taxiing on the Runway 18L at the Murtala Muhammed International Airport, Lagos, when one of the engines picked a bird, an incident known as bird strike.
As precautionary measure, the pilot in command aborted the flight.
In a statement signed by the airline’s Head of Communications, Dr Ejike Ndiulo, the airline stated, “We wish to inform our esteemed
I, formerly known and addressed as OLUWAYOMI TOYIN TEMITOPE, now wish to be known and addressed as FOLORUNSHO TOYIN TEMITOPE. All former documents remain valid. The general public take note.
I, formerly known and addressed as KEHINDE OLAWALE, now wish to be known and addressed as FUNLOLA FUNBI ESAN. All former documents remain valid. The general public should please take note.
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.
I formerly known and addressed as DAFET SAMUEL now wish to be known and addressed as DAFETA SAMUEL OLAIYA. All former documents remain valid. NIMC and the general public should please take note.
I formerly known and addressed as TAIWO SIMILOLU ABIMBOLA now wish to be known and addressed as TAIWO SIMILOLUWA ABIMBOLA. All former documents remain valid. The Standard Chartered Bank, Zenith Bank, and the general public should please take note.
I, formerly known and addressed as ADESOPE AMINAT FOLAKE, now wish to be known and addressed as ADEDEJI AMINAT FOLAKE. All former documents remain valid. The general public take note.
I, formerly known and addressed as IFEANYICHUKWU JOSHUA EKWEOBA, now wish to be known and addressed as IFEANYICHUKWU JOSHUA NWABUEZE. All former documents remain valid. The general public take note.
passengers that our AbujaLagos 06:30 flight experienced a bird strike before take-off, prompting a ramp return as a
safety measure. All passengers disembarked normally.
“We have deployed a replacement aircraft for the
affected flight in order to minimise disruptions, thus ensuring that passengers continue their journeys promptly.
“We appeal for the understanding of our valued passengers impacted by this
development, as well as those on other flights that may experience delays,” the statement said.
Experts Allay Concerns about Green Transition in Africa
Omolabake Fasogbon
Experts have addressed Africans’ fears and concerns about embracing green economy, emphasizing its importance to realising sustainable development on the continent.
At a Sustainability in the Extractive Industries (SITEI) conference in Lagos organised by CSR-in-Action, the experts drawn across Africa also charted sustainable management of the
continent’s natural resources and equality gap in the extractive industry.
In her keynote address, the Regional Director of Ford Foundation West Africa, Dr. ChiChi Aniagolu-Okoye, analysed prospects of green energy, convincing Africans that opportunities for sustainable development offered by this innovation far outweighs its concerns.
Aniagolu-Okoye, however,
urged leaders to prioritise African-centric approach in their transitioning journey to be able to retain economic control and drive fruitful efforts.
“Transitioning from fossil fuels to green energy is pivotal, and we must approach it through an African lens. Africa’s transition is not an end to extraction but a shift that maintains autonomy and enables economic control,” she asserted.
Also speaking at the power conference with the theme: Extractives for Green Growth: The Strategic Role of Extractives in the Just Transition into an Inclusive Green Economy’, NOHFC IRC Chair in Mineral Exploration at Lakehead University, Ontario, Canada, Dr. Pete Hollings, called for equitable economic outcomes by redefining resources management. He stressed true transparency in sustainability efforts, noting that
this has been a major defeat in Canada’s economy despite the country’s giant strides. He said: “Despite Canada’s advancements, achieving true transparency and avoiding superficial green-washing remain challenging. Sustainable mining should involve zero-footprint goals, green technology, and renewable power sources, but we must also protect indigenous lands and cultures.”
Zenith Bank Commences Annual Startup Competition, Zecathon 4.0
SundayOkobi
Zenith Bank has announced the return of its annual startup competition, Zecathon 4.0, with a massive N77.5 million in cash prizes up for grabs.
The competition, a vital component of the Zenith Bank
Tech Fair, seeks to identify and accelerate the growth of Nigeria’s most promising startups in FMCG, insurance, education, retail and ecommerce, cybersecurity, agriculture, health, payments, lending, and transportation.
Beyond Limits, a leading driver of innovation and business growth,
is the official implementation partner for Zecathon 4.0. It stated that Nigerian startup founders can apply for free at https://beyondlimits.global/ zenithbankpitchcompetition/ Group Managing Director/ Chie Executive, Zenith Bank Plc, Dr. Adaora Umeoji, said: “Zecathon
‘Some Leaders Responsible
David-Chyddy Eleke in Awka
Former Chairman of the Peoples Democratic Party (PDP) in Anambra State, Chief Ndubuisi Nwobu, has accused some leaders of the party of sabotaging the party in the past 28 years.
Nwobu stated this yesterday during a meeting of party stakeholders to welcome the newly elected state Chairman of the party, Mr. Chidi Chidebe. According to him, “Anambra State loves the PDP, and the only problem is that those who call
I, formerly known and addressed as IFEANYICHUKWU JOSHUA EKWEOBA, now wish to be known and addressed as IFEANYICHUKWU JOSHUA NWABUEZE. All former documents remain valid. The general public take note.
I formerly known and addressed as MISS MARGRET OKO DAVID now wish to be known and addressed as MRS MARGRET OKO SIMON. All former documents remain valid. The general public should please take note.
I formerly known and addressed as MISS DEBORAH OREOLUWA FABIYI now wish to be known and addressed as MISS DEBORAH OREOLUWA OLUBIYI. All former documents remain valid. The general public should please take note.
themselves our leaders are going out to collect money from our opponents and working against the party.
“The PDP is back in Anambra State to reclaim its rightful position. If you believe in the PDP, believe with one mind. We
is more than just a competition; it’s a platform for creating lasting impact. We’re not just looking for the next big tech idea; we’re looking for solutions that will improve lives and contribute to Nigeria’s economic growth,” emphasizing the organisation’s commitment to Nigerian startups and the importance of Zecathon. She added: “We are thrilled to partner Beyond Limits on Zecathon 4.0. Their expertise in fostering innovation and driving business growth will be invaluable in ensuring the success of this programme and empowering the next generation of Nigerian tech leaders.”
for Sabotage that Drew PDP Back’
are now united, focused, and have purposeful, committed leaders to take the party to greater heights.”
He urged the newly elected leaders not to disappoint the party faithful, given the overwhelming support from members.
“You must do everything possible to ensure that the PDP returns to the state as a winning party,” he said.
The state party Chairman, Chidi Chidebe, announced that the party would set up seven committees in the next four
months to drive the party. He said: “It has become important that these committees, seven of them, take up the task of reaching out to stakeholders and the aggrieved members as well as showcasing and selling the party to the outside world.”
Task Force Out to Curb Sharp Practices, Not to Intimidate People, Ogun Replies IPMAN
James SowoleinAbeokuta
The Ogun State Government yesterday stated that the task force set up in the petroleum industry was to address fuel meter tampering and other sharp practices among operators, even as it debunked allegations of harassment and intimidation.
The state Commissioner for Transportation, Mr. Olugbenga Dairo, said that contrary to the allegations of harassment and intimidation leveled against the task force by the Independent Petroleum Marketers Association of Nigeria (IPMAN), the government, faced with soaring transportation costs and public outcry over fuel pricing malpractices, took a proactive approach by establishing the task force aimed at regulating and ensuring fair practices within the petroleum sector.
The commissioner disclosed that in the course of its duties, the task force observed some sharp practices by certain filling stations, including tampering with their dispensers. He mentioned that while carrying out its mandate, the task force discovered sharp practices at several filling stations visited, leading to financial losses for unsuspecting members of the public.
NCAA Organises Workshop on Consumer Protection, Mgt
The Nigeria Civil Aviation Authority (NCAA), under the leadership of Capt. Chris Ona Najomo, is organising a one-day workshop on consumer protection and management to x-rays ways to serve air travellers better and improve the relationship between passengers and airlines.
The theme of the workshop is
‘Achieving Increased Adoption of Digital Technology in Air Travel Customer Complain Management: The Regulatory Perspective.’
The purpose of the workshop is to create stronger interface among airline operators, aviation agencies and air travellers to enhance improved and effective communication between airlines
and travellers.
According to a statement, this is part of the series of stakeholder engagement and public awareness programme aimed at setting the roadmap for achieving a more efficient civil aviation and air transportation system in the country, through an inclusive dialogue by critical stakeholder and major actors in the Nigerian civil aviation air transportation value chain. Seasoned aviators are billed to speak at the workshop, including the Executive Director and Chief Operating Officer of Ibom Air, George Uresi; Thought Leader, Lawyer and Scholar, First Baba Isa and Senior Special Assistant to the DG, Ifueko Abdulmalik.
ANI Foundation, NPS Inaugurates New Outpost in Gashaka Gumti National Park
Wole Ayodele in Jalingo
The Africa Nature Investors (ANI) Foundation in conjunction with the National Park Service (NPS) has inaugurated a new outpost for Park Rangers in the northern sector of Gashaka
Gumti National Park situated in Toungo Local Government Area of Adamawa State.
The Outpost, which would accommodate 50 Rangers and other support staff, is equipped with state-of-the-art facilities, including internet, 24-hour power and water supply, is another milestone in ANI Foundation’s resolve and commitment to conserve, protect and preserve Nigeria’s biodiversity.
Speaking at the occasion, Minister of Environment,
Alhaji Balarabe Abass Lawal, stated that the new outpost would play a significant role in enhancing conservation efforts and responding swiftly to threats within the Park which is the largest Park in West Africa with a landmass of 6,731 sq. km.
FRIDAYSPORTS
RESULTS
AFCON QUALIFIERS
E’Guinea 0-0
Lesotho 1-0 CAR
S’Sudan 3-2
Burundi 0-0
Ma’gascar 2-3
Niger 4-0
Rwanda 0-1
Benin 1-1
B’Faso 0-1
UEFA NATIONS LEAGUE
Belgium 0-1
France 0-0
Greece 0-3
Ireland 1-0
Slovenia 1-4
Nigeria’s Men’s Cricket team will begin their journey to the 2025 T-20 World Cup on home soil. They will host five other African countries in the Sub-Regional African Qualifier C, which will run from November 23rd to 28th, 2024, in Abuja.
Nigeria will be joined by Botswana, Cote d’Ivoire, Eswatini, St. Helena, and Sierra Leone for a weeklong cricket action that will produce two finalists to the next stage of the World Cup Qualifier.
The twin Oval at the Moshood Abiola National Stadium will host the 15 scheduled matches of the encounter.
The President of the Nigeria Cricket Federation, Uyi Akpata, said that the World Cup Qualifier will test Nigeria’s facilities and stretch the Federation’s personnel and event management competences.
“There is no doubt that we are making some advancement in talent development. We are at a point where we need to build competences across different facets of the game. Hosting the Qualifiers allows us to show our visitors a different side of Nigeria through the game,” observed the NCF President.
Akpata added that the twin ovals in Abuja will be the centre of attention for global cricket during the seven-day event.
“Nigeria Cricket has been making a bit of buzz globally and attention will be on us, during the event. I think it is a good thing. And I believe it is our opportunity to show the world our brand of cricket and some bits of what makes us Nigeria,” enthused Akpata.
The Nigerian Men’s Cricket team is ranked 36th in the T-20 global ranking ahead of any of the teams vying for the subregional honour, but the team is leaving no stone unturned in their preparations for the event.
Three of the national team players, Isaac Okpe, Chiemelie Udekwe, and Isaac Danladi featured in the just concluded Zimbabwean National Cricket League and have since returned to the country to beef up the team’s camp for the qualifiers. According to Akpata; “While we believe we stand a good chance of qualifying to the next stage, our focus is also on delivering beautiful memories for our visitors, cricket fans at home, and abroad; watching the event,” he concluded.
The first-ever Candix Inter-Secondary Karate Competition was successfully concluded last Saturday, marking a significant milestone in the promotion of youth sports and martial arts within the state.
This groundbreaking event brought together 12 secondary schools, showcasing the talent, discipline, and sportsmanship of young athletes across six categories—three male and three female.
The event was a resounding success with participants delivering remarkable performances. Read On Academy emerged as the overall champion, securing an impressive tally of 4 Gold, 1 Silver, and 1 Bronze medals. Redemption Montessori clinched the second position with 1 Gold, 1 Silver, and 1 Bronze medals, while Excel Cherry Forte College placed third place with 1 Gold Medal.
Organisers of the Inter-schools karate event, Zen Budo Karate Ventures Limited, expressed their
gratitude to the Management and Board of Candix Enginering Limited for the generous sponsorship of the karate competition.
“Their invaluable support was instrumental in the success of this event, providing a platform for young athletes to shine and pursue excellence,” observed the organisers.
The organisers also extended their heartfelt gratitude to the Rivers State Government, Commissioner for Sports - Hon. Chris Green, all the schools, coaches, participants, and volunteers for their dedication and hard work, which truly set the stage for future competitions.
The event, organized and managed by Zen Budo Karate Ventures Limited, signifies a promising start for the Candix Inter-Secondary Karate Competition, with plans to continue fostering athletic talent and promoting the values of discipline and perseverance among the youth.
Osimhen’s Equaliser Maintains Osimhen’s Maintains Eagles Unbeaten Run, Nigeria Unbeaten Run, Qualify for AFCON 2025 for AFCON 2025
Duro Ikhazuagbe
Victor Osimhen last night rescued the Super Eagles from another defeat by Benin Republic as Nigeria came from behind to draw 1-1 with the next-door neighbors in Abidjan and qualified for the AFCON 2025.
The three-time continental champions before the kickoff of the clash with the Cheetahs, had sealed their passage to AFCON 2025 scheduled for Morocco courtesy Libya’s 1-0 defeat of hosts Rwanda in Kigali.
But the Beninoise who were aware that nothing short of victory against Nigeria would put them on the road to qualifying for the tournament as runners up,
went ahead when big defender Mohamed Tijani scored his first international goal in the 16th minute, against the run of play. Tijani was allowed a free header that went through the legs of goalkeeper Stanley Nwabali to give Benin the shock lead.
However, that goal appears to have sparked Eagles from slumber. Nigeria’s forward line of Osimhen, Ademola Lookman and Kelechi Iheanacho was up and doing but the goals simply refused to come despite Eagles dominating play inside the Stade Felix Houphouet-Boigny on a wet evening.
With time ticking out, with Interim coach Augustine Eguavoen made some changes.
Moses Simon and Raphael Onyedika came in for Kelechi Iheanacho and debutant Gabriel Osho, respectively. That move paid off as substitute Moses Simon provided the pinpoint cross that Osimhen headed into net for vital equaliser for Nigeria in the 81st minute. His goal sent the Super Eagles to Morocco 2025 as group winners, and ensured the Eagles remain unbeaten in the AFCON qualification campaign going into their last game of the series, against Rwanda in Uyo on Monday.
Rwanda, with five points from their five games after an unexpected 1-0 loss to Libya in Kigali also on Thursday, must
beat the Super Eagles in Uyo and hope that Libya overwhelm Benin Republic in Tripoli on Monday, to spring to second place and collect the second ticket to the finals from Group D.
Speaking after the encounter, Super Eagles coach, Augustine Eguavoen, praised the team for the vital draw in Abidjan. “It was a tough game and I congratulate the players for a spirited display in the second half that earned us the equaliser. The downpour made the game difficult for both teams, but I am happy we have the AFCON finals ticket in the bag ahead of the final game of the series against Rwanda in Uyo on Monday,” concludes Eguavoen.
...Gabon, S’Africa, Uganda, Tunisia Seal Passage to Morocco 2025
Three-time continental champions Nigeria were among four sides to qualify for the 2025 Africa Cup of Nations (Afcon) without kicking a ball on Thursday.
Gabon, South Africa and Uganda are also assured of their places in Morocco after results in their respective groups went their way.
Ten-man Tunisia netted a 93rd-minute winner to triumph
3-2 away against Madagascar and book their place at the finals for a record-extending 17th time.
Libya’s 1-0 win in Rwanda guarantees Nigeria a top-two finish in Group D, and means Benin will join the Super Eagles at the tournament if they win their all-West African meeting later (19:00 GMT).
Meanwhile, Ghana’s hopes of qualification are still alive after
Sudan suffered a damaging 4-0 defeat away against Niger, who revived their own campaign.
The Sudanese had needed just a point to progress from Group F.
Four-time AFCON winners
Ghana must beat alreadyqualified Angola in Luanda on today Friday (19:00 GMT) to remain in the hunt for a ticket to the 2025 finals.
Equatorial Guineaand
Ivory Coast both qualified for next year’s tournament on Wednesday despite not playing - and that theme continued on Thursday.
Central African Republic had to win away against Lesotho in order to put pressure on Gabon in Group B, but a 1-0 defeat in Bloemfontein means CAR’s wait for their Nations Cup debut will continue for at least another two years.
Offiong Edem Retires from National Team
One of Africa’s most decorated table tennis players, Nigeria’s Offiong Edem, has announced her retirement from the national team. The former African Games champion shared the news on Thursday, November 14, through her Instagram page, expressing her desire to inspire the next generation of table tennis stars through her foundation.
In her post, the 37-year-old wrote, “As a proud five-time Olympian, I bid farewell to the national team. It’s time
to explore new horizons and nurture young table tennis talents, inspiring the next generation to surpass my achievements.
“I extend heartfelt gratitude to everyone who has supported me on this incredible journey: family, friends, and wellwishers. Your unwavering love and encouragement mean the world to me. From humble beginnings in Bayside to international recognition, I am deeply thankful.”
Edem also expressed her appreciation to the
International Olympic Committee (IOC), the Nigeria Olympic Committee (NOC), and the Nigeria Table Tennis Federation (NTTF) for providing her with a platform to showcase her talents globally. “Thank you #IOC #NOC #NTTF, and I thank God for the talent and opportunities it brought. So much has been achieved, and I’m grateful. I bow out but remain committed to the table tennis community, empowering young stars. Once again, thank you all for your support. Peace
and Love,” she added. Edem has been a consistent presence in African and international table tennis competitions for over a decade. She is one of Nigeria’s most successful female table tennis players, having represented the country at multiple African Games, Commonwealth Games, and Olympic Games. Known for her remarkable skill, composure, and versatility, she has earned a reputation for her contributions to the sport both on the continental and global stages.
Duro Ikhhazuagbe w went ahead when defender Moses Simon and beat the Super in Uyo and
MEASURING THE GREEN WEALTH OF NATIONS: NATURAL CAPITAL AND ECONOMIC PRODUCTIVITY IN AFRICA
hydro (350 GW), wind (110 GW), and geothermal energy sources (15 GW), all of which are the backbone of a less carbon-intensive and more sustainable energy system.
Therefore, while Africa contributes significantly to global public good for tackling climate change with its vast resources of natural capital, its vast natural capital has been undervalued. This vast natural capital is not taken into consideration in valuing the GDP of African countries. For example, while the GDP of Africa was estimated at $2.5 trillion in 2018, this was 2.5 times lower than the estimated value of its natural capital, evaluated at $6.2 trillion, which partly includes some valuation of the ecosystem services.
This situation makes Africa to be “green endowed” but “cash poor”.
When the value of Africa’s vast forest and environmental services, and natural capital, are properly valued, the size of its rebased GDP taking this into account will be much higher.
The African Development Bank’s preliminary estimates, based on very conservative assumptions, show that Africa’s nominal GDP in 2022 could have increased by $66.1 billion when
adjusted for carbon sequestration only.
That is more than the combined GDP of 42 African countries!
The proper valuation of Africa’s green GDP is where the trillions of dollars for the continent, based on proper valuation, will come from, to boost the wealth and financing of the continent.
The greening of the GDP will also have other benefits, including the development of carbon markets in Africa.
Unfortunately, today, several African countries are giving away their vast amounts of land to carbon credits. While this may generate some short-term financing, it needs to be understood that Africa is a carbon price taker and therefore is short-changed. While the price of carbon in Europe is high and could be as high as $200 per ton because of the strict EU Emission Trading Standards, carbon price in Africa could be as low as $3 to $10 per ton.
The widespread sales of vast areas of Africa’s lands rich in carbon, what I call “carbon grab”, has five consequences, which we must understand.
First, the countries are being underpaid for the carbon, due to the undervaluation
FIRSTBANK: ADEDUNTAN’S GIANT FOOTPRINTS
Equity from 0.6% to 45% as at end of Q12024. Non-performing loans from 35% to less than 5%. Total number of Issued Cards from 7 million to 12.7 million. Total Digital Banking Customers from 0.6m to 23.2 million, significantly increased digitally processed transactions from 20% to over 90%, moved the contributions of foreign subsidiaries from negative to 30%. He also built “Firstmonie’ the bank’s agency banking business that currently boasts of over 250,000 agents spread across the nooks and crannies of Nigeria, which is also expanding abroad and is regarded as the largest bank led agent banking business in Sub-Sahara Africa. The market capitalization of FBN Holdings Plc ( the quoted company) responded in tandem to all these massive improvements and moved from circa N110 billion in 2016 to over N1.1 trillion. And many other key metrics.
The vision which Adeduntan crafted for the Bank is to be Africa’s Bank of First Choice, and he not only moved in that direction, he accelerated at top speed.
For His Excellency Governor Babajide Sanwoolu, a key takeaway from the ceremony is Adeduntan’s reported popular phrase that ‘Strategy Without Execution is Hallucination’. Describing the retired CEO as “a gift to Nigeria,” the Governor said lack of execution is the problem in most public and private sector organisations and that the classic saying from Adeduntan is a major reminder on why all organisations must strive for execution excellence.
A graduate of Veterinary Medicine from the frontline University of Ibadan, the former GCEO took a Master’s degree in Business Administration from Cranfield University, one of Europe’s most prestigious academic institutions. When that University awarded him a honorary Doctor of Science in 2022,
of Africa’s carbon sinks.
Second, the sequestered carbon on the lands can no longer be used as part of the nation’s nationally determined contributions.
Third, the countries lose sovereignty over their lands.
Fourth, the carbon sequestered over these lands and forests cannot be used to rebase and revalue the green GDP of the countries.
Fifth, the ongoing carbon grab in Africa is a lose-lose proposition.
The proper valuation of Africa’s green wealth will increase access to financial flows, in part because credit ratings agencies will be able to incorporate the true value of overall asset class, which in turn could improve countries’ risk profile.
Therefore, it is time for Africa’s green environmental assets to be properly priced to allow the continent to turn its massive green assets into wealth, through their inclusion in “green’ GDP for Africa. This will raise massive financial resources for the continent, spur greater green investments and provide better policies for the greening of African economies for sustainable development. The significantly higher
revenues that Africa will generate from the proper valuation of its carbon sinks and environmental services will also allow it to be able to service its debts, assuring debt sustainability. It is time for Africa’s green wealth to be properly measured.
It is time to take Africa’s natural capital into consideration in its GDP. It is time for Africa to be green rich and cash rich.
I am delighted to inform you that the African Development Bank has produced a report on “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa. You will find the report on your tables. This report sets out key actions to value and integrate natural capital in the measure of Africa’s GDP. This is a defining moment for Africa. We need you to succeed.
African Development Bank will work with you to seize this moment.
*Speech by Dr. Akinwumi A. Adesina, President and Chairman of the Board, African Development Bank Group, at the COP 29 High-Level Event on “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa”, 13 November 2024
Adeduntan was asked to deliver a short address to the graduating class. The Chancellor said it was “in recognition of your outstanding contribution to business.”
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Bankers of Nigeria (CIBN), the then President Muhammadu Buhari, in a 2022 congratulatory message commended Adeduntan as “a role model to the younger generation, showing that hard work pays, and with resourcefulness and doggedness, great heights are achievable.”
On the occasion of the send off ceremony by the bank, President Bola Ahmed Tinubu, congratulated him for “exceptional service to Nigeria’s oldest bank,” adding that Adeduntan steered FirstBank through transformative growth
as evidenced by ballooned customer accounts and profitability, among others.
The President also lauded his “visionary leadership and commitment to excellence” as well as the bank’s solid internal management ethos, which led to seamless transition in leadership to Alebiosu, the new CEO.
In his farewell message to his former colleagues and subordinates, Dr Adeduntan said he was proud to be CEO of one of the best workforce teams in the industry. He said they transformed the bank from “brick and mortar to a digital giant,” urging them not to rest on their oars, till they achieve the vision of becoming Africa’s Bank of First Choice. He specifically called out the name change for the foreign subsidiaries from ‘FBNBank’ to FirstBank as one of his greatest legacies,
noting that it significantly enhanced brand equity and strength, and avoided confusion in the larger market with other brands.
There were not a few questions asked, when Adeduntan, a victorious warrior of many boardroom battles, left his position voluntarily eight months before due time. But the farewell dinner showed that all was well internally.
At just 55, this can only be the close of a chapter in the life of this Ibadan, Oyo State, native who is an African optimist. The full book continues to unfold, and the Nation will yet see and hear more of Adesola Adeduntan, especially in the larger economic space.
*Adesina, OON, FNGE is a former presidential spokesman.
Adeduntan
FCCPC to DisCos
“It is essential to clarify that Ikeja and Eko DisCos cannot proceed with the withdrawal or replacement of the Unistar meters unless they fully comply with NERC’s order...The order mandates that meter replacements must be prompt, without disrupting service and at no cost to the consumer; and ensuring that consumers are not subjected to estimated billing due to delayed installations” –Director, Corporate Affairs, Federal Competition and Consumer Protection Commission (FCCPC), Ondaje Ijagwu, warns DisCos against violation of consumers’ rights.
Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa
Iapplaud H.E. President Sassou Nguesso, the President of the Republic of Congo and President William Ruto of Kenya, the cochairs, for their leadership on this agenda, and for joining with me in our collective drive to ensure that Africa’s vast natural resources are considered in the valuation of Africa’s wealth – what I call Green Gross Domestic Product (Green GDP).
Africa has some of the largest sources of natural capital in the world, including over 40% of the world’s clean energy potential; 65% of the world’s uncultivated arable land; 25% of global biodiversity; and 20% of the world’s tropical rainforest area.
The Congo Basin is the second largest carbon lung in the world after the Amazon forest. It stretches 314 million hectares with 1.2 million kilometers of primary forest.
The peatlands of the Congo Basin store 29 billion tons of carbon. That is equivalent to 3 years’ worth of global
Date was November 2, 2024, and venue was Harbour Point, Victoria Island, Lagos. In cascades, people streamed into the luxurious, expansive venue, and they came from all walks of life. Captains of industry, current and former Governors, Senators, Royalties, people from the academia, friends, family, bankers, yes, naturally, bankers.
What was the big event? Dr Adesola Kazeem Adeduntan; FCIB, FCA, Group Managing Director/Chief Executive Officer of FirstBank for nine years, was being given a befitting send off by the 130 years old financial institution.
Alongside his family, Adeduntan, resplendent in a traditional attire with cap to match, welcomed the guests
cheerily. Soon, the venue was filled, and it was time to flag off the 6 pm event. And what a show-stopping event it turned out to be in terms of music, tributes, entertainment, food, and gaiety.
Prof Ishaq Oloyede, that unusually honest Registrar of the Joint Admissions and Matriculation Board (JAMB) and Secretary General of the Supreme Council for Islamic Affairs in Nigeria, gave the opening prayer, and it was time to go down the memory lane about Adeduntan’s giant footprints on the sands of time at FirstBank, the Nigerian banking industry, and the Nation’s economy at large.
His successor as GMD/CEO, Olusegun Alebiosu, set the ball rolling, recounting the achievements of his immediate predecessor. He described
him as a “man with strategic vision and managerial prowess, that led with strategic brilliance.” Many of the bank’s staff, were to follow in a pre-recorded video. His Highness Mohammad Sanusi II, Emir of Kano regaled the audience with statistics that showed Adeduntan’s exceptional performance. Governors Dapo Abiodun and Babajide Sanwoolu of Ogun and Lagos States joined in showering encomiums on the man for support he provided to their states and for leading the FirstBank to greater glory and to break new grounds.
Alhaji Ahmad Abdullahi, a former Director of Banking Supervision at the Central Bank of Nigeria and also a former chairman of FBN Holdings Plc (FirstBank parent/listed company) described how FirstBank
Africa’s forests account for 26% of all carbon sequestration in forests worldwide.
The continent also holds considerable non-renewable natural resources, accounting for 50% of the world’s reserves of cobalt (used for batteries), 40% of manganese reserves (used in solar and wind farms) and more than 80% of platinum reserves, complemented by rich endowments of nickel, copper, and rare earth minerals. These are crucial for global green energy transition with electric vehicles and battery energy storages systems, whose estimated value is expected to rise from $7.5 trillion to $59 trillion.
Africa is also endowed with abundant renewable energy: an almost unlimited potential of solar capacity (10 TW),
Continued on page 39
was troubled when Adeduntan was appointed late 2015 and how Central Bank tasked and worked with him to pull the Bank back from the brink. He concluded that the fact that FirstBank is in existence today, remains ‘systematically important Bank’ and the ceremony is taking place is an affirmation of the excellent work that Adeduntan did whilst at the helm of affairs. Seven recurring adjectives that were used to describe the former CEO at the ceremony were: Exceptional; Extraordinary; Visionary; Outstanding; Excellent; Impactful and Transformational What were the milestones and landmarks attributed to the former helmsman, who was in office from 2015 to April 2024?
Friday, November 15, 2024Price: N400
Nguesso
greenhouse gas emissions. The Congo basin also absorbs about 1.5 billion tons of carbon dioxide per year.
