WEDNESDAY 16TH NOVEMBER 2022 by THISDAY Newspapers Ltd

Ahmed: No Going Back on Phased Petrol Subsidy Removal in 2023 World Bank: Nigeria has to stop bleeding now Insists phasing out subsidy will enhance fiscal balance FG to disburse last tranche of World Bank-assisted grants to states Ndubuisi Francis, James Emejo in Abuja and Nume Ekeghe in Lagos Minister of Finance, Budget and

National Planning, Mrs. Zainab Ahmed, yesterday, insisted that the federal government would commence a phased removal of

petrol subsidy from June next year. Ahmed said provision for the removal of the subsidy had already been made in the 2023-2025

Medium-Term Plan. Speaking at a media briefing at the close of the 28th Nigerian Economic Summit (NES#28), themed,

“2023 and Beyond: Priorities for Shared Prosperity,” Ahmed described fuel subsidy as a double jeopardy for the Nigerian economy, which

must be removed. The minister’s comments folContinued on page 39

Higher Energy Cost, Disruption in Food Supply Chain Push Inflation to 21.09%... Page 8 Wednesday 16 November, 2022 Vol 27. No 10081. Price: N250

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Obi to Soludo: As Professor I Pray You Perform Better Than I Did as Governor... Page 40

Tinubu’s Prayer, ‘God Bless PD…’ Prophetic, Says Opposition Party Insists APC candidate ineligible to contest presidential poll Atiku: my restructuring agenda is to make govt more efficient Chuks Okocha in Abuja The Peoples Democratic Party (PDP), yesterday, declared that the prayer, which slipped out of

the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, at yesterday’s campaign flag-off in Jos, “God Bless PD…”, confirmed his innermost conviction

that PDP represented the hope and aspiration of majority of Nigerians for a secure and prosperous future under a united country PDP, in a statement by its

National Publicity Secretary, Debo Ologunagba, said the fact that Tinubu said the prayer during his “flopped presidential campaign flag-off” was a pointer that it was

not a slip of tongue but a divine proclamation that the hope for Nigeria, which he harped on, could only come from PDP. PDP reiterated its stand that

Tinubu was ineligible to stand for the 2023 election, saying it is instructive to note that the Continued on page 39

100 Days to Presidential Poll, Tinubu Says 'God Bless PD...APC' Says February election battle to define nation’s soul Nigeria needs a man like our candidate, Buhari declares Osinbajo, Mustapha, Fashola absent Our allegiance is to Nigeria, INEC chairman insists Chuks Okocha, Adedayo Akinwale in Abuja, Segun James in Lagos and Seriki Adinoyi in Jos One hundred days to the February 25, 2023 presidential election, the candidate of the governing All Progressives Congress (APC), Bola Tinubu, yesterday, officially began

his campaign at the Jos Township Stadium, in Plateau State, where he described next year’s election as a fight to define the soul of the nation. Tinubu declined to succumb to pressure to dwell on what he Continued on page 10

Kyari: Why Nigeria, Others Must Adopt PASSING THE FLAG... APC Presidential Candidate, Bola Ahmed Tinubu, receiving the party’s flag from President Muhammadu Buhari, during the Flexible Energy Transition Plan... presidential campaign flag-off in Jos, Plateau State…yesterday Page 6

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

NEWS

SUPPORTED BY THIER SPOUSES... R-L: APC Presidential Candidate, Bola Ahmed Tinubu; his wife, Senator Oluremi Tinubu; the party's vice presidential candidate, Senator Kashim Shettima and his wife, during ﬂag oﬀ of Tinubu-Shettima presidential campaign in Jos, Plateau State…yesterday

Stakeholders Kick as NCC Raises Reserve Bid Price for 5G Spectrum Auction from $194.7m to $273.6m Airtel seeks administrative privilege to buy spectrum at reserve bid price Emma Okonji Having successfully auctioned the initial two slots in the 3.5GHz spectrum in December 2021, to MTN Communications Plc and Mafab Communications Limited beginning from a fixed reserve bid price of $194.7 million, the Nigerian Communications Commission (NCC) has raised the reserve bid price for the remaining two slots which it plans to auction in next month to $273.6 million. However, stakeholders have kicked against the move.

The NCC yesterday announced the reserve bid price for the planned December auction while presenting the draft Information Memorandum (IM) to telecom operators at a stakeholders’ meeting organised in Lagos. The second auction of the remaining two 3.5GHz spectrum slots were expected to facilitate 5G network rollout across the country and deepen broadband penetration. Worried by the hike in the reserve bid price, a representative from Huawei Technologies expressed surprise that the NCC could raise

the reserve bid price and called on the regulator to cut down the bid price to enable more operators participate in the bidding process. In its submission at the stakeholders’ forum, Airtel, which took part in last year’s bid, but withdrew at the eleventh round when the process was at its peak, told the NCC yesterday, to consider its participation in last year’s bidding process and grant it the administrative privilege to buy one of the slots at the reserve bid price, without bidding with other operators. MTN which is also interested in

the next 3.5GHz spectrum auction told the NCC that it would be unfair if MTN was not allowed to bid for the next auction having paid premium to attain the 3.5GHz slot it currently has. MTN, Mafab and Airtel had last year participated in the auction of the initial two slots of the 3.5GHz spectrum, and all three commenced bidding from a reserve bid price of $194.7 million, fixed by NCC, until they reached a winning bid price of $273.6 million. Responding to stakeholders’ reactions, the Executive Com-

Nigeria Air: Court Restrains FG, Others from Partnership with Ethiopian Airlines No going back on planned national carrier, Sirika insists Chinedu Eze and Wale Igbintade A Federal High Court sitting in Lagos has restrained the AttorneyGeneral of the Federation and the Minister of Aviation from implementing the proposed National Carrier Establishment Agreement between the Federal Government of Nigeria, Nigeria Air Limited and Ethiopian Airlines. But despite the court ruling, the Minister of Aviation, Hadi Sirika yesterday insisted that the federal government would not go back on the plan to establish the national carrier. Justice Lewis Alagoa in his ruling dated November 11, 2022, also ordered parties in suit to maintain status quo pending the determination of the Motion on Notice. Justice Alagoa also ordered an accelerated hearing of the suit. The plaintiffs, the Registered Trustees of the Airline Operators of Nigeria, Azman Air Services Limited, Air Peace Limited, Max Air Limited, United Nigeria Airlines Company Limited, and Topbrass Aviation Limited, had in a suit marked FHC/L/CS/2159/2022, prayed the court to stop the defendants, the Nigeria Air Limited, Ethiopian Airlines, the Minister of Aviation, Senator Hadi Siriki, and the Attorney General of the Federation from implementing the said agreement. The plaintiffs in their Motion Ex parte dated 10th day of November, 2022, prayed the court for the

following orders: "An order of interim injunction restraining the Defendants either by, “themselves, agents, privies, principals or any other persons whosoever from executing the proposed or draft National Carrier Establishment and Agreement between the Federal Government of Nigeria, (represented by the 3rd and 4th Defendants) and the strategic equity partner (the 2nd Defendant) or giving effect to, and or suspending the sale and transfer of the shares & operations of the 1st Defendant by the 2nd Defendant pending the determination of the Motion on Notice. "Maintenance of status quo by all parties in this suit from taking any further step(s) in relation to the subject matter of this suit pending the determination of the Motion on Notice. "Accelerated hearing of this suit, and for any other or further orders as this Honourable Court may deem fit to make in the circumstances of this case." After reading the Affidavit in support of the Motion sworn to by Ewos Iroro, and hearing the submission of counsel for the plaintiff/applicant, Nureni Jimoh, with Abubakar Nuhu Ahmad, the court held, "That an Order of Interim Injunction is granted restraining the Defendants either by themselves, agents, privies, Principals or any other persons whosoever from executing the proposed or draft “National Carrier Establishment

and Agreement Between the Federal Government of Nigeria (represented by the 3rd and 4th Defendants) and the strategic equity partner (the 2nd Defendant) or giving effect to and or suspending the sale and transfer of the shares & operations of the 1st Defendant by the 2nd Defendant pending the determination of the Motion on Notice. "That an Order of Maintenance of Status Quo by all parties in this suit from taking any further step(s) in relation to the subject matter of this suit pending the determination of the Motion on Notice is granted. "That an Order of Accelerated Hearing of this suit is granted."

The plaintiffs among other prayers want the court to stop the national carrier deal and withdraw the Air Transport Licence already issued to Nigeria Air by the federal government/Nigerian Civil Aviation Authority. They also claimed that the firm which served as transaction adviser for the transaction was incorporated in March last year and alleged that the company was linked to the aviation minister. The local airlines further alleged that the ATL issued to Nigeria Air did not pass through the normal Continued on page 39

missioner, Technical Services at NCC, Mr. Ubale Maska, said the hike in the reserve bid price was justified because spectrum licence had appreciated after it was auctioned last year. He also said it would only be fair to all operators, if Airtel would participate afresh in the next auction. Head, Spectrum Administration Department at NCC, Abraham Oshadami, while presenting the draft IM to operators at the stakeholders’ meeting, said the NCC was desirous of auctioning the remaining two slots of 100 MHz TDD in the 3.5GHz band to support the delivery of ubiquitous broadband services in line with the Nigerian National Broadband Plan (NNBP) 2020-2025. According to him, interested operators are to make a non-refundable Initial Bid Deposit (IBD) of 10 per cent of the reserve bid price. “The licence is a 10 year licence and the launch of the commercial services by the winners, shall not be later than 12 months after the effective date of the licence,” Oshadami said. In his welcome address, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, said: “Following the successful auction of the initial two lots in December 2021, the Commission has received requests to administratively licence the available lots at the previous auction fee. “However, the Commission, in line with its powers under the Nigerian Communications Act 2003, has decided to licence the available lots in the 3.5GHz band through the auction method, which is a transparent and efficient approach

that can open up opportunities for new entrants as well as deepen competition in the industry.” According to Danbatta, the Commission has committed enormous resources to ensure that harmonised Spectrum was secured and released in a timely manner for present and future rollout of services that will underpin the Fourth Industrial Revolution (4IR), including International Mobile Telecommunication (IMT-2020) services. “We have kept ourselves abreast of developments at international fora, including ITU-R Study Groups to enable the allocation of strategic Spectrum to IMT services especially the IMT-2020, which has been on the front burner in the last two ITU-R Study Cycles. “Hence, it is important that we ensure the timely release of the spectrum bands necessary for 5G deployment to the industry to enable us reap the immediate and envisaged benefits of 5G technology, and facilitate the development of Nigeria’s Digital Economy to foster national growth. NCC has developed a draft Information Memorandum (IM) for the auction of the 3.5GHz band which has been published on our website to enable stakeholders review and make inputs and comments. “We are here today, to deliberate on the draft document and make contributions towards the management and utilisation of this resource in line with global best practices. “The Commission will continue to develop policies and guidelines in conjunction with stakeholders to deliver better quality of experience for all,” Danbatta further said.

IG Orders Tight Security Along Lagos-Ibadan Expressway Takes briefing from Lagos, Ogun, Oyo CPs Kingsley Nwezeh in Abuja Following the deteriorating security situation on the Lagos-Ibadan Expressway, the Inspector-General of Police (IG), Usman Baba, yesterday, ordered a restructuring of the security architecture on the expressway. A statement by Force Headquarters said the measure was designed to provide adequate deployment of officers and assets to ensure the protection of lives and property

along the expressway and forestall kidnappings and other criminalities. It said the IG issued the directive after he was briefed by the Commissioners of Police (CPs) in charge of Lagos, Ogun, and Oyo state commands. He added that the police was not oblivious of the prevailing security challenges on the Lagos/Ibadan Expressway. The statement claimed the police high command was charting a path towards containing the security challenge and strategically eliminating

the threats along the expressway, hence, the on-the-spot assessment of the black spots along the route by the CPs of Ogun and Oyo on the directives of the IG for enhanced safeguarding of the expressway. The statement said, "The IG, therefore, pledged adequate operational support in form of technology-based and tactical operational assets for the Commissioners of Police in charge of Lagos, Ogun, and Oyo, and heads of tactical operational units in the area to combat the current trend

of crimes and criminality on the Lagos/Ibadan Expressway. "In the same vein, the InspectorGeneral of Police has called on well-meaning Nigerians, particularly, road users, hunters, community leaders, and other stakeholders, who ply the route to constantly expose known criminals, who terrorise innocent Nigerians along the route and within adjoining communities to the police and other security agencies for immediate arrest and prosecution."

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NEWS

STAKEHOLDERS' FORUM ON THE DRAFT INFORMATION MEMORANDUM... L-R: Senior Manager, Regulatory, Airtel, Mr. Gbolahan Thomas; Director, Legal and Regulatory Services, Nigerian Communications Commission (NCC), Ms. Josephine Amuwa; Executive Vice Chairman/ CEO, NCC, Prof. Umar Garba Danbatta; Executive Commissioner, Technical Services, Engr. Ubale Maska, and General Manager, Regulatory, MTN Communications Plc, Ikenna Ikeme, at a stakeholders' forum on the Draft Information Memorandum on 3.5GHz Spectrum Auction held in Lagos...yesterday

Kyari: Why Nigeria, Others Must Adopt Flexible Energy Transition Plan Forecasts gloomy prospects for oil industry in next 30 years Says 970m Africans lack access to clean cooking gas Seplat Energy’s ANOH, Sapele gas projects to fuel 2000MW by 2024 Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, yesterday made a case for Nigeria to be given the freedom to adopt a more gradual and flexible approach to the ongoing energy transition. He also forecasted that the global oil and gas industry does not look bright in the next 30 years or more, due to the current pressure driven by energy transition to ditch fossil fuel. Speaking while presenting a paper at the 40th annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos, Kyari who spoke on the topic: “Global Energy Transition and the Future of the Oil and Gas Industry: Evolving Regulations, Emerging Concepts, and Opportunities,” said rapid demographic changes would continue to drive up demand for energy services across Africa in the coming decades. Represented by the Executive Vice President, Upstream, Adokiye Tombomieye, Kyari said oil demand in Africa continued to stand at an average of 4.36 million barrels per day in 2022. He said that although Africa has the world’s lowest levels of per capita use of modern energy, energy demand is set to increase with growth in population and

incomes, lamenting that 970 million Africans lack access to clean cooking gas. Kyari told the gathering that the energy mix had become more diverse, with Africa still dominated by fossil fuel and hydropower making the only meaningful renewable energy contribution. “It is therefore our firm position that fossil fuel will continue to contribute more than 50 per cent to the energy mix in Africa and possibly the rest of the world. “However, the most important question for this strategic gathering is around competitiveness of the hydrocarbon sources compared to renewal comparatives in terms of cost, energy contents and sustainability. “Recent happenings in the Russian-Ukraine crises have seen the resurgence for the need for fossil fuels and in some cases adverse use of high-carbon generating energy sources like coal, this also points to the fact that energy transition implementation has to be gradual. “It is therefore imperative for the industry, NAPE and key stakeholders to rededicate ourselves towards scaling above the challenge posed by transition. “One way to scale up is by delivering the most advantaged barrels to the world while paying attention to environmental sustainability through huge investments in technology and innovation. “Nigeria and the rest of resource

dependent nations would require oil to transit out of oil. However, we will remain sensitive to the growing global concerns relating to global warming, climate change, and the increased attention in national and international public discourse generally due to increasing environmental concerns,” he explained. He noted that currently, energy transition was moving very aggressively, adding that major fund providers for petroleum upstream investment are now activists and anti-fossil fuels. The NNPC chief executive said the financing of oil and gas projects

had become more complicated as banks, multilateral lenders, and investors are diverting capital away from fossil fuels to renewable energies. “However, there is also a need to recognise that while aggressive energy transition programmes are being pursued in developed countries, many emerging countries, especially those with hydrocarbondependent economies like Nigeria, require a more gradual and flexible approach to the energy transition mantra,” he added. Meanwhile, Seplat Energy Plc, has said its ANOH and upgraded Sapele

Remanded on board, to be guarded by Navy, risk life imprisonment Foreign Affairs: India, Poland to get access to defendants Kingsley Nwezeh in Abuja The Federal Ministry of Justice, yesterday, said the 27 crew members of rogue vessel, MT Heroic Idun, were arraigned at the Federal High Court Five, Port Harcourt, Rivers State capital. The Nigerian Navy also said the vessel that attempted to load

Liquified Natural Gas (LNG) at the Akpo Oil Terminal without authorisation, was in its custody even as it dismissed attempts by some interest groups to distract the prosecution of the offenders. Chief of the Naval Staff, Vice Admiral Awwal Gambo, said the Navy was served court papers by owners of the vessel and would

Lagos woos investors in agro-allied services

Lagos State Governor, Babajide Sanwo-Olu has met with a highpowered delegation from France for strategic discussion on bilateral cooperation. The visitors led by Senator Bernard Fournier, are members of Foreign Affairs, Defence and Armed Forces Committee in the French Senate. They are in Nigeria on a three-day working visit. A statement explained that the discussion focused around areas of partnership between the State

and French government, including security, transportation and infrastructure. The parliamentarians’ visit to the Governor came weeks after the representatives of Agence Française de Développement (AFD) visited Lagos to strengthen the existing bilateral ties between the two sides. There are over 100 French companies based in Lagos. Sanwo-Olu told the French parliamentarians that bilateral agreements with the state government had recorded progress, disclosing that Lagos was open

Nigeria presents huge opportunity for the Nigerian state and people. “Using gas to provide more affordable and reliable energy will boost Nigeria’s economy; drive development; create jobs and prosperity; reduce emissions from diesel usage; support future renewable deployment; and enable a just and affordable energy transition,” Brown added. The Seplat Energy boss told the conference attendants that it was encouraging that a just and affordable energy transition is now on the agenda at COP 27 as energy transition is about balancing realities.

Oil Theft: 27 Crew Members of Rogue Vessel, MT Heroic Idun, Arraigned

Sanwo-Olu Meets French Parliamentarians, Discusses Bilateral Ties Segun James

gas projects could fuel another 2000 megawatts of electricity by 2024, thus displacing the wide use of diesel/petrol generators for electricity as well as the use of biomass as cooking fuel. The Chief Executive Officer of Seplat Energy Plc, Mr. Roger Brown, who spoke at the NAPE event, said Seplat believes that the country needed to utilise gas to displace 20GW diesel/petrol generators, as well as the use of biomass as cooking fuel. Beyond displacement, however, Seplat Energy said increased gas production and penetration in

to more investment in provision of infrastructure in transportation sector and gaming industry. He said: “We are happy with the kind of relationship we currently have with the French business community. We have been making giant leap forward in our relationship and we are ready to do a lot more, especially in the transportation sector where we currently have partnership with French firms. “There is also an existing French loan which we have changed the scope of the transaction but we

are on track on the deliverables tied to the funding. “Lagos also recently sealed a MoU with the French government on e-sport. I’m delighted to share progress in this regard; we have some representatives of the State Government currently in Paris to further open more opportunities in the gaming sector as outlined in the agreement. “The new Lekki Deep Seaport, which we will be commissioning next month, will be managed by a French company called CMA CGM Group.”

enter an appearance. At a media briefing held at the headquarters of the Nigerian Navy in Abuja, a senior official of the ministry, Ms Nkeiruka Jones-Nebo, said 17 crew members of the vessel were arraigned on Monday while 10 were put on trial yesterday. "We have filed charges against the defendants. The matter is at the Federal High Court 5, Port Harcourt before Justice Turakin," she said, noting that 17 of the 27 defendants were arraigned on Monday while 10 were arraigned yesterday. "The federal high court, has exclusive jurisdiction over this matter. They were remanded in the vessel, onboard to be supervised by the Navy," she said, noting that the case was adjourned till early next year, January 10. She said stringent stipulated sanctions for the offence could attract life imprisonment but the court reserved the powers to determine their fate. In his remarks, the Director, Consular Services Ministry of Foreign Affairs, Ambassador Nicolas Ella, commended the Nigerian Navy for repatriating the vessel back to Nigeria from

Equatorial Guinea. He said the ministry had received a note verbale from the Embassies of India and Poland for access to the defendants, and assured the international community that consular access would be granted, using diplomatic channels. "Nobody should bother Nigerian Navy. If you have any issues, go through the Ministry of Foreign Affairs," he advised. Meanwhile, the Naval Chief, who was represented by the Chief of Policy and Plans, Rear Adm. Saidu Garba, listed the offences committed by the vessel to include attempt to deal in export crude oil without license or authorisation; entering a restricted zone around an oilfield without authorisation and thus violating Nigeria’s Exclusive Economic Zone regulations. Others included falsely accusing a Nigerian Navy Ship of piracy on International Maritime reporting platforms after having communicated with the Nigerian Navy Ship without ambiguity about her identity, therefore violating sections of the Suppression of Piracy and Other Maritime Offences (SPOMO) Act 2019.

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NEWS

INTERACTIVE SESSION AT THE 28TH ECONOMIC SUMMIT... L-R: Thematic Lead, Public Health, Nigerian Economic Summit Group (NESG) Health Policy Commission, Dr. Mariya Saleh; Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed; Executive Director, International Society of Media in Public Health, Chief Moji Makanjuola, and Chair, Nigeria Governors' Forum, Aminu Tambuwal, at an interactive session on ‘Universal Coverage and the Basic Healthcare Funds’ at the 28th Nigerian Economic Summit (NES 28) in Abuja…yesterday

Higher Energy Cost, Disruption in Food Supply Chain Push Inﬂation to 21.09% Severe in Kogi, Bauchi, Ondo James Emejo in Abuja The Consumer Price Index (CPI) which measures the change in prices of goods, increased by 5.09 per cent to 21.09 per cent year-on-year in October, compared to 15.09 per cent in the corresponding period of 2021, the National Bureau of Statistics (NBS) stated yesterday. However, month-on-month, headline inflation was 1.24 per

cent, which was 0.11 per cent lower than the 1.36 per cent recorded in September. According to the CPI report for October, food inflation increased to 23.72 per cent year-on-year which was 5.39 per cent higher than the 18.34 per cent recorded in October 2021. According to the statistical agency, the rise in food inflation was caused by increases in prices

of bread and cereals, food products, potatoes, yams and other tubers, oil and fat. Month-on-month, however, the food index declined to 1.23 per cent in the month under review, representing 0.21 per cent decline compared to 1.43 per cent in the preceding month, with the reduction attributed to the reduction in prices of some food items including tubers, palm oil, maize, beans, and

vegetables. On the other hand, the report showed that core inflation which excluded the prices of volatile agricultural produce stood at 17.76 per cent, up by 4.52 per cent, when compared to 13.24 per cent in October 2021. The increase in the core index was attributed to the highest increases in prices of gas, liquid fuel, passenger transport by air,

Group Expresses Concern over Move to Remove Sex Education from School Curriculum UN resident coordinator seeks strengthening of SGBV prevention efforts

Ibrahim Oyewale in Lokoja and Onuminya Innocent in Sokoto A non-governmental organisation (NGO) the Nigerian Feminist Forum (NFF) has raised concerns over the proposal to remove sex education from Nigeria's basic education curriculum. This was just as the United Nations (UN) Resident Coordinator, Matthias Schmale has advocated the need to strengthen prevention efforts to curb sexual and genderbased violence (SGBV). The NFF appealed to the Minister of Education, Malam Adamu Adamu, the Federal Ministry of Education and the Nigerian Educational Research and Development Council (NERDC) to rescind the decision to expunge sex education from the nation's education curriculum. This was disclosed in a statement by the Communication and Programme Assistant of the NGO, Adaeze Ekpunobi, made available to newsmen in Lokoja, yesterday. The statement stated that removal of sex education from school curriculum would jeopardise the rights of students to health education given it immense benefits to the health, well-being and protection of the child from diseases, infections as well as teenage pregnancy. The NFF insisted that Adamu and NERDC should in the interest of Nigeria and its public health

reverse the policy with quick rescission of the government's decision on the controversial sex education review. "The NFF believes that the directive is ill-advised and stems from a place of ignorance on the value of sex education as a right and vital aspect of health education and holistic wellbeing of school-aged young Nigerians," it added. The group noted that expunging sex education from Nigeria’s schools’ curricula may exacerbate myriads of sex-related risks that young school-aged Nigerians were exposed to. The NGO noted that contrary to the minister’s position on sex education, "evidence-based researches at national and international levels, outlined the benefits of sex education to include delayed sexual initiation; reduced risk-taking; increased use of contraception; and improved attitudes to sexual and reproductive health." It therefore called on governments and policy-makers to provide safe, accurate and incremental sex education to young people in the country, adding that sex education in schools was imperative in today’s information age, where young people could access information from the internet and social media. "The Nigerian government cannot afford to neglect the right to health and holistic well-being of millions of school-aged Nigerians. the repercussions of such careless-

ness and retrogressive action will impact on all aspects of the Nigerian society,” it added. The NFF therefore called on the Minister of Education to, "withdraw his directive on sex education to NERDC and the Federal Ministry of Education; to ensure that mechanisms are put in place across the country to protect the right to health and holistic well-being of every school-aged Nigerian. "Ensure that the sex education curriculum in the country is in line with the International technical guidance on sexuality education.” Meanwhile, the UN Resident Coordinator, Matthias Schmale has advocated the need to strengthen prevention efforts to curb sexual and gender-based violence (SGBV). According to him, the two elements for SGBV prevention are to strengthen justice response as a strong deterrent and education of girls. He stated this during a high-level UN-EU/Government Spotlight Initiative’s joint mission held in Sokoto. He stated that SGBV emergency like other national crises required responses in agile and fast manner. Schmale, the Co-Chair of the UN-EU/Government Spotlight Initiative commended the Sultan of Sokoto for his, “wise and impactful leadership.” “You stand out for the leadership you demonstrate in supporting

girls’ education and promoting the Child Rights Act,” he stated. He also lauded efforts of the Sokoto State government and all other stakeholders towards the fight against SGBV. Continues online

solid fuel, and vehicle spare parts. On a month-on-month basis, the core inflation rate was 0.93 per cent in October compared to 1.59 per cent in September. The NBS further stated that the increase in the annual inflation rate was due to a disruption in the supply of food products, an increase in the cost of importation due to the persistent currency depreciation and a general increase in the cost of production particularly an increase in energy cost. However, year-on-year, the urban inflation rate rose to 21.63 per cent, up by 5.11 per cent when compared to the 16.52 per cent recorded in October 2021. Month-on-month, the urban inflation rate declined to 1.33 per cent, representing 0.12 per cent reduction compared to 1.46 per cent in September. Similarly, the rural index increased to 20.57 per cent yearon-year, representing 5.09 per cent increase compared to the 15.48 per cent recorded in October 2021. Month-on-month, the rural inflation rate was down to 1.16 per cent, which was 0.11 per cent

lower when compared to 1.27 per cent recorded in September. On the states level, year-on-year, general inflation was highest in Kogi 25.15 per cent, Bauchi 23.45 per cent, Ondo 23.45 per cent, while Plateau 19.02 per cent, Borno 19.31 per cent and Nasarawa 19.39 per cent recorded the slowest rise in headline index in October. Month-on-month, however, the highest price increases were recorded in Abuja 3.18 per cent, Kebbi 2.80 per cent, Sokoto 2.57 per cent, while Kwara -0.14 per cent, Kogi 0.06 per cent and Oyo 0.30 per cent recorded the slowest increase. The report showed that year-onyear, food inflation was highest in Kwara 30.79 per cent, Kogi 28.74 per cent and Imo 28.64 per cent, while Kaduna 19.96 per cent, Plateau 20.17 per cent and Jigawa 20.42 per cent recorded the slowest rise. Also, month-on-month, food inflation was highest in Sokoto 3.55 per cent, Yobe 3.31 per cent and Kebi 3.16 per cent, while Kwara -0.76 per cent, Kogi -0.55 per cent and Akwa-Ibom -0.21 per cent recorded the slowest rise.

Delta Accesses N30bn from N150bn Bridging Finance Delta State Governor and the vice presidential candidate of the Peoples Democratic Party (PDP), Dr. Ifeanyi Okowa, yesterday said his administration had accessed N30 billion out of the N150 billion that it applied for from a financial institution under the 'Bridging Finance' facility. Okowa disclosed this while answering questions from journalists shortly after inspecting the Koka flyover and Interchange, Stephen Keshi Stadium, the Leisure Park and Film Village as well as the Dennis Osadebey University, all in Asaba. He said N25 billion out of the N30 billion 'Bridging Finance' loan already accessed by the state government had been deployed into some ongoing projects while the remaining N5 billion was channelled into the payment of pensioners in the Bureau for State Pensions and the Local Government Pensions Bureau. According to him, local govern-

ment pensioners were not under the state's purview, adding that the money (N2.5 billion) was given to them as grant from the state government. "On the Bridging Finance, as at today, we have only been able to access N30 billion of it and we have deployed it into various projects. "We also have directed that N2.5 billion from that N30 billion be given to Bureau for State Pension and a grant of N2.5 billion to the Local Government Pension Bureau to help offset pensioners debt. "Local government pensioners are not under us but it is an assistance in grants to help soften the monies being owed local government pensioners," Okowa said. On the level of work at the Stephen Keshi Stadium, the governor said he was impressed with the pace of work and called on the contracting firm to redouble efforts so as to complete the various projects before November 24, this

year. He said Delta was set to host the National Sports Festival without any hitch, stressing that the upgrade of sporting facilities in the stadium was to meet international standards and advised those peddling fake news on the collapsed structure to base their reports on facts and not hearsay. "We were also at the stadium and a lot of work is going on there. They have reassured me that they would be out of that place by the 24th of November. "And I pray that they are able to do that because the games would start on the 30th of November. We are able to see the main bowl and the tracks that are being replaced. "You also noticed that the swimming pools, the main one and the warm up one have gone very far. There is also additional spectators stand which I am told will be ready in another week from today. Continues online

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LEAD CONTINUATION

UNWTO GLOBAL CONFERENCE AT THE NATIONAL THEATRE...

L-R: Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aishah Ahmad; Minister of Information and Culture, Lai Mohammed; Vice President, Prof. Yemi Osinbajo, and Secretary-General of the World Tourism Organisation (UNWTO), Zurab Pololikashvili, at the UNWTO Global Conference held at the National Theatre, Lagos…yesterday

100 DAYS TO PRESIDENTIAL POLL, TINUBU SAYS 'GOD BLESS PD...APC' termed “fruitless past or tomorrow of fantasies”. However, he slipped out of excitement, when he chanted “God Bless PD…”, before he realised his Freudian slip and quickly reverted to his “APC”. President Muhammadu Buhari led other party faithful, including National Chairman of APC, Senator Abdullahi Adamu, governors of the party, ministers, National Working Committee (NWC) members, and other party leaders, to the event. Buhari told the gathering that Nigeria needed a man like Tinubu to sustain its current development. But Vice President Yemi Osinbajo, Secretary to the Government of the Federation (SGF), Boss Mustapha, and Minister of Works and Housing, Babatunde Fashola, Tinubu’s erstwhile ally, were absent at the Jos rally. Ahead of the general election next year, Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, yesterday, reiterated that the loyalty of the commission was to Nigerians and its allegiance was to Nigeria. Tinubu, in a statement by his media office, signed by Tunde Rahman, said if elected president, unlike other parties, who were either dwelling on a fruitless past or tomorrow’s fantasies, his administration hoped to continue the course of progress already started by the Buhari administration. Tinubu stated, "February 2023 is more than an election. It is a fight to define the soul of the nation and to determine our collective fate. Do we adhere to the ideals of broadly shared prosperity, competence, peace, justice and compassion toward all? Or do we toss these ideals away, lashing ourselves to the divisive politics of the past or to those whose ranting show they cannot distinguish between fact and fantasy. "One party wants to take us back to a past that never should have been. Another party wants to take us to a past that resides only in its candidate’s head. Neither the old road nor the fantasy road is good enough. Instead, we forge the wiser path towards our approved destination – an even better Nigeria. This is what the election is truly about." To ensure overall energy security and resource mobilisation for the country, Tinubu promised to continue the on-going exploration works in all frontier basins and, especially, speed up the development of the commercial oil found in Gombe/ Bauchi states. The presidential candidate commended the Buhari administration

for the massive development in the agricultural, infrastructure and power sectors in the last seven years, noting that those foundations now require more builders to make it a massive structure. He called on all Nigerians to embark on the journey with him. Tinubu added, "Here, I thank President Buhari again, because he has truly established a strong foundation for the things we are now to do. Truly, the foundation has been set. It is now time to call more builders forward to further construct the national edifice that will be our best home. We, the APC and the Tinubu/Shettima team, seek to make permanent a covenant of progressive good governance with the people." Tinubu noted that under this hopeful pact, he would assemble the best team and build on progress in the agriculture sector by establishing commodity boards, guaranteeing minimal prices for strategic crops, while also promising to create agricultural and industrial hubs in all zones. According to him, "You shall also see water catchment and irrigation systems to help farming while mitigating the dire effects of drought and flooding brought about by a changing climate. We will encourage urban employment through a national industrial plan that employs a series of measures, including tax and employment credits." He stated that his government would continue with the current government’s infrastructure expansion initiative. The APC candidate said, "Most importantly, I will give utmost priority to extinguishing terrorists and violent criminals. We shall augment our military, police and security personnel while providing them with better tactical communication and mobility. We will employ hi-tech aerial surveillance to track and attack these menaces. "These evil forces seek to destroy our democratic way of life. I have news for them. We will defeat their destructive way of life. They shall be utterly defeated and vanquished from our soil." Tinubu also said, "I am deeply honoured for the presence of His Excellency, President Muhammadu Buhari. As campaign chairman, he promised to lead from the front. A man of his word, President Buhari has done what he said and more. "Mr. President, you have provided exceptional service to the nation and party. Your contributions are both positive and enduring. When the history of this period is objectively written, it will smile upon you and treat you with

utmost kindness." Earlier, Tinubu and his entourage paid a courtesy call on Gbong Gwon Jos, Jacob Buba, who described both Tinubu and his running mate, Kashim Shettima, as tested people with records of achievements, adding that what the country needs at this time are tested people. Buhari, in a release by his spokesman, Mallam Garba Shehu, declared that Nigeria needed the services of a person like Tinubu. The president joined the crowd to endorse the Tinubu-Shettima ticket, urging party members to march to deliver them now that the party has decided. Speaking while handing the APC flag to Tinubu, Buhari said the country needed a man like him. The president urged the party faithful to campaign on issues and the abilities of the candidate and his running mate, Shettima. The president reiterated his earlier assurances that he would be at the forefront of the campaign because of his belief in the party. He said only APC could lead Nigeria to the fulfilment of its historic purpose and working together with the leadership of the party, the campaign council, and its teeming supporters, the goal would be achieved. Buhari, who spoke later at the palace of the Gbong Gwom Jos, Da Jacob Gyang Buba, also reiterated his earlier commitment to ensuring that every vote counted. The president stated, “No election winner will be denied his mandate, irrespective of the party to which they belonged.” It was, apparently, in response to the campaign director-general, Governor Simon Lalong of Plateau State, who announced the intention to recreate the old Social Democratic Party (SDP)-Moshood Abiola historic victory in 2003 in a campaign that took off from the same city 30 years ago. The military government of General Ibrahim Babangida annulled that election. In his speech, Shettima commended Nigerians for believing in APC to lead the country to progress after years of backwardness under the PDP administration. "Hope is back," the APC vice presidential candidate declared. He praised the party chairman, Adamu, for steadying the ship of APC since assuming office as national chairman, adding that the campaign started in Plateau State, a place that properly shows Nigeria's vast potential. Shettima said, "One can see greater prosperity and jobs in an economy humming with activity. From the farmer in the rural area

to the city boy in a bustling urban centre, each will have productive work to do and a decent home to return to. "One can see a Nigeria where all who want to, will be able to build a decent life from the fruits of their individual and collective endeavour. From this fine vantage point, we see how far we have come. We also see how far we must go and the road that will take us there." Adamu and Chairman, Progressives Governors' Forum, Governor Atiku Bagudu of Kebbi State, while addressing the rally, commended Buhari for his achievements. They said the president would be leaving behind important legacies in democracy, good governance, infrastructure development, and economic growth, particularly, in the area of agriculture and food security. Senate President Ahmed Lawan said the legislators were in the grassroots and represented the people, so, “We would leave no stone unturned to ensure that the National Assembly retains 75 per cent APC members to see that the next president enjoys a harmonious and good working relationship.” Lawan said Buhari was the most successful president of the country since the return to democracy in 1999, having executed more projects and signed more bills into law than his predecessors. “We have registered over 42 million Nigerians as members of our party, and we are sure of victory,” the senate president added. Curiously, while Osinbajo’s absence at the rally had been interpreted variously as the fallout of an alleged rift between him and Tinubu, Mustapha was believed to have stuck to the president’s order weeks ago that cabinet members should concentrate on governance, and Fashola, allegedly, had a commitment many months ago that he could not forgo on any account. Unfortunately, the rally did not end on a good note, as a lawmaker representing Mushin Constituency II in the Lagos State House of Assembly, Honourable Sobur Olayiwola Olawale, otherwise known as “OMITITI”, died at the event. Olawale, 60, was said to have slumped and was reportedly rushed to a nearby hospital, where he was pronounced dead. He was a second-term lawmaker and was part of the Eighth Assembly between 2015 and 2019 and the current Ninth Assembly, whose tenure would end in 2023. Until his death, Olawale was Chairman, House Committee on

Local Government Affairs, having previously served as Chairman of the Committee on Home Affairs. Other prominent personalities at the Jos rally included Speaker of the House Representatives, Hon. Femi Gbajabiamila, Governors Abdulrahman Abdulrasaq (Kwara), Abdullahi Ganduje (Kano), Nasir El-Rufai (Kaduna), Abubakar Sani-Bello (Niger), Yahaya Bello (Kogi), Abubakar Badaru (Jigawa), Professor Ben Ayade (Cross River), Atiku Bagudu (Kebbi), and Abdullahi Sule (Nasarawa). Others were Lagos State Deputy Governor Femi Hamzat; former Ogun State governor, Senator Ibikunle Amosun; former Bauchi state governor, Mohammed Abubakar; former Ekiti State governor, Dr. Kayode Fayemi; former governor of Borno State, Modu Ali-Sheriff; and former Minister of Transportation, Hon. Chibuike Amaechi. There were also wife of the APC presidential candidate, Senator Oluremi Tinubu; wife of the vice presidential candidate, Hajiya Nana Shettima; wife of Governor Sanwo-Olu of Lagos, Dr. Ibijoke Sanwo-Olu; Director-General for Lagos APC campaign council, Senator Ganiyu Olanrewaju Solomon; ministers; and members of APC National Working Committee. Meanwhile, Yakubu, in a statement, said, "I have said repeatedly, the commission's allegiance is to Nigeria. Our loyalty is to Nigerians, who want free, fair, credible and verifiable elections supported by technology, which guarantees transparent accreditation and upload of polling unit results for citizens to view in real-time on Election Day. "It is for these reasons that the Bimodal Voter Accreditation System (BVAS) and the INEC Result Viewing Portal (IReV) were introduced. There is no going back on the deployment of BVAS and IReV for the 2023 general election." According to him, “It is exactly 100 days today before polling units open at 8. 30am on Saturday 25th February 2023 for national elections (Presidential and National Assembly) and two weeks later, on Saturday 11th March 2023 for state elections (Governorship and State Houses of Assembly). "Once again, another general election is upon us, the seventh since the restoration of democracy in Nigeria in 1999. Over the last 23 years, we have made a steady progress in the twin areas of electoral reform and election administration. "Although a lot of work still lies ahead, it is generally acknowledged that our elections are getting better and citizens’ confidence in the

process is increasing." He promised that INEC would continue with its regular engagement with political parties, civil society organisations, the media and other critical stakeholders. Yakubu said, "Nigerians deserve the right to know about the progress we are making and the challenges (if any) we confront in our preparations for the general election. Accordingly, in a couple of weeks, the commission will start bi-weekly media briefings followed by weekly briefings, as we get closer to the election. In the week leading to the election, there will be daily briefings. “I seize this opportunity to call on all citizens to participate fully in all electoral activities, particularly, the on-going display of the Register of Voters for claims and objections, as well as collection of Permanent Voters’ Cards (PVCs). I also call on political parties and political leaders to conduct their campaigns peacefully, eschewing divisiveness, rancour and violence." He explained that Nigerians were aware election was a multistakeholder activity, and stressed, "We will continue to play our part diligently and conscientiously. We appeal to all stakeholders and, above all, citizens, to play their own part so that working together, we can have the elections that Nigerians yearn for, and which the world expects (from) Nigerians." In a related development, Catholic Bishop of Sokoto Diocese, Matthew Hassan Kukah, advised supporters of politicians not to kill themselves while demonstrating support for their candidates in the forthcoming elections. Kukah, who is also Convener of the National Peace Committee (NPC), noted that rival politicians were friends fighting for their piece of the national cake. The cleric disclosed this yesterday while featuring on national television. He said, “These politicians are struggling and they’ve lived their lives struggling for the national cake, which they will distribute among themselves. It is, therefore, in the interest of ordinary Nigerians to know that they have to vote to stay alive.” Kukah also said followers and supporters of politicians “must understand that these politicians know themselves”, regardless of their grandstanding and posturing. He advised supporters of political parties and candidates to be more restrained and wise. Kukah urged people to figure out how to manage their passions in politics, saying they should not take seriously the grandstanding of the politicians.

WEDNESDAY NOVEMBER 16, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY NOVEMBER 16, 2022

MIDWEEKPOLITICS

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

08033025611 SMS ONLY

Akeredolu Buries Mum Amid Politicking Fidelis David writes that the recent burial of Madam Grace Abosede Akeredolu, the mother of Governor Oluwarotimi Akeredolu of Ondo state in Owo, was a chanced opportunity for top members of the ruling All Progressives Congress to throw political banters at each other

Akeredolu

wo, in Ondo State, South West Nigeria, was last Saturday shut down, as eminent Nigerians stormed the state for the funeral of the mother of the State Governor, Oluwarotimi Akeredolu (SAN), Lady Evangelist Grace Bosede Akeredolu (JP), who died at a ripe age of 90. To some people, the funeral of the nonagenarian matriarch of the Akeredolu dynasty, who died on September 15, 2022, was another reunion for rivals who briefly shoved politics aside and expressed lighthearted laughter to join the first family in the Sunshine State as they waved Mama bye into the land beyond. Aside politics which may occasion such strange reunion among party foes from the 18 local government councils to 3009 polling units of the state, and North and South of Nigeria: some still believed it was an innocent honour and unrivalled show of love that her beloved children attracted for the late matriarch’s sake. Faces at the Event The burial featured the crème-de-la-crème of the society as the Vice President Yemi Osinbajo and the Presidential candidate of the All Progressives Congress (APC) in the 2023 general elections, Asiwaju Bola Ahmed Tinubu were among several other eminent personalities who honoured Akeredolu at the event. Other dignitaries at the funeral service held at the Cathedral Church of St Andrew’s, Imola, Owo, included Governors of Ogun, Lagos, Osun, and Oyo states: Prince Dapo Abiodun, Babajide Sanwo-Olu; Gboyega Oyetola and Engr Seyi Makinde respectively but the latter was represented by his wife, Olufunke. Also in attendance were former Governors of Ekiti State, Dr Kayode Fayemi and wife, Erelu Bisi; Ogun, Senator Ibikunle Amosun; Ondo, Dr Olusegun Mimiko; Minister of Youth and Sports, Sunday Dare, his Science and Technology counterpart, Dr. Olorunnimbe Mamora; Chief Akin Olujimi, SAN; Chief Bisi Akande; Titi Laoye-Tomori, the National Secretary of the ruling APC and erstwhile Deputy Governor of Osun State, Senator Iyiola Omisore; Chief Femi Falana, SAN, representatives of traditional rulers, among several dignitaries. Osinbajo’s apology after missing out Tinubu from the list of protocols The funny and controversial way Osinbajo apologized for missing out APC Presidential candidate, Asiwaju Bola Tinubu, from the list of protocols while greeting and acknowledging dignitaries in the course of making his speech has also become an issue of discuss. Osinbajo had said, “Before I go on, I have made a very big error, I have left out the presidential candidate of our great party, the APC, Asiwaju Bola Ahmed Tinubu, the Emilokan. Asiwaju Bola I’m simply sorry, you are sitting right to me, not just sitting right to me but I’m looking at him. But I honour you and welcome you to this event”. Though Williams Shakespeare said “There was no science to know the mind’s construction from the face,” some political readers at the event concluded that it was a deliberate act to spite the

Osinbajo

APC Presidential Flagbearer, claiming the Vice President is still wallowing in the pain of his presidential loss to his former boss. While others also recalled that the former Lagos State Governor, while exchanging pleasantries with President Muhammadu Buhari and his wife, Aisha, after his victory at the APC National Convention in June 2022, ignored Osinbajo who was sitting right next to the President before his attention was called to the obvious miss. Tinubu and Osinbajo have a long history as political associates. The latter served as Lagos State Attorney General and Commissioner for Justice when the former was the Governor of the state between 1999 and 2007; and since had been in the good record of the National Leader of the party, as an ally. But Osinbajo was one of Tinubu’s major challengers at the party’s primary in June. The election result shows that over 2,300 delegates voted in the contest that produced Tinubu at a special convention held in Eagle Square, Abuja five months ago. Tinubu polled 1,271 votes followed by his closet rival and former Minister of Transportation, Hon Rotimi Amaechi who scored 316 votes. Osinbajo, Senate President Ahmed Lawan, and Governor Yahaya Bello of Kogi State shared the remnants to come behind the duo with 235, 152, and 47 votes respectively. It is worthy of note that the party’s Presidential Campaign Council constituted in September, 2022 excluded Osinbajo from its list but the spokesperson for the Council, Festus Keyamo, said the President “specifically directed” that he should

Tinubu

be left out to concentrate on the governance of the country. Is Akeredolu’s 42 year-old relationship with Mimiko Still Intact? The relationship between Governor Rotimi Akeredolu and his predecessor and friend, Dr Olusegun Mimiko is said to be over 42 years. The relationship predated their OAU days in Ile-Ife, it was learnt that both would always eat from Akeredolu Mama’s largesse and pot in Ibadan. However, before the October 10, 2020 Ondo State governorship election, there was obvious increasing animosity between the camps of the All Progressives Congress’ candidate, Rotimi Akeredolu, and that of the former governor of the state, Olusegun Mimiko. Although, Mimiko did not contest the election but his entire political machinery were in full front driving the campaign of the deputy governor, Agboola Ajayi, whose controversial exit from the APC landed him in the Zenith Labour Party, a party, Mimiko later collapsed the structure to PDP. In other words, the presence of Mimiko at the event speaks volume that Akeredolu’s friendship with Mimiko remains unaffected by the previous or current political permutations, alignments and realignments. Mama Akeredolu: What kind of person was she? How did she relate within the community? Osinbajo said the late Grace Akeredolu lived a good life of service to God and mankind, while congratulating Governor Akeredolu and his siblings on behalf of the Federal Government of Nigeria and President Muhammadu Buhari, for surviving their aged mother. According to him, “Today is a day of great joy. We have reached where we must celebrate one the greatest legacy. It is a time to celebrate Mama because of her great deeds. The life of Grace Akeredolu is a life worthy of celebration. She lost her husband at the age of 50 and lived up to 90.

The funny and controversial way Osinbajo apologized for missing out APC Presidential candidate, Asiwaju Bola Tinubu, from the list of protocols while greeting and acknowledging dignitaries in the course of making his speech has also become an issue of discuss. Osinbajo had said: Before I go on, I have made a very big error, I have left out the presidential candidate of our great party, the APC, Asiwaju Bola Ahmed Tinubu, the Emilokan. Asiwaju Bola I’m simply sorry, you are sitting right to me, not just sitting right to me but I’m looking at him. But I honour you and welcome you to this event

“She brought up her children. She made a great effort at raising four boys. She did very well indeed. We must thank God because not only did she bring up her children well but all of them are successful. “What we must celebrate most is her service to God and mankind. We celebrate the life of a great woman, a woman who served God well and her community,” he said. On his part, Tinubu, who equally rejoiced with the children of the deceased for surviving their aged mother, prayed God to continue to be with them even after the demise of their mother. “Thank God we are alive; there might be weaknesses and inadequacies in expectation. No one wants failure. You cannot give up on us. We will do better. We will contribute to the improvement you might want. “Mama has given us the Grace of the day that she will not be the one to bury us. She had the greatest legacy of a life full of achievements,” he explained. The poor are getting poor Earlier, in his sermon, the Bishop of Owo Anglican Diocese, Revd Stephen Fagbemi, lamented that “The poor are getting poor. Nigeria needs a change that will ensure safety and security in villages. We need a government that understands economics. Life is hard in this country. Let our leaders be careful to help us move things forward. The best place to start a campaign is the hospital.” The Bishop told Tinubu that God has placed him where he is going to make a difference, urging him to “Go to hospitals and schools and see what Nigeria is like. I encourage you to go to Federal Medical Centre here in Owo to campaign and see what the future holds.” Governor Akeredolu, while responding to the sermon, said there were crops of politicians in the South-west that the people could be very proud of. According to him: “We have listened to your political sermon. It was wonderful listening to the sermon. “I will not contend with you but I know as politicians we are doing our best. It might not be good for everybody. You should also say the things we have done. Continue to pray for us so that we will do our best. “We will look at it. It is not that we are not trying. We have our shortcomings. We have crops of politicians in the South-west we can be very proud of.” Oyetola will reclaim his mandate Another bullet point at the event was the expression of optimism by Governor Akeredolu that his Osun State counterpart, Adegboyega Oyetola, would emerge victorious at the tribunal as the latter is challenging the outcome of the July 16, 2022 governorship election in which the candidate of the Peoples Democratic Party (PDP), Senator Ademola Adeleke, was declared winner. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY NOVEMBER 16, 2022

POLITICS

Anambra’s 2023 Budget and Soludo’s Promise to the People David-Chyddy Eleke reviews 2023 budget proposal of Anambra State presented recently to the State House of Assembly by Governor Charles Soludo and tries to ﬁnd a connection between it and the development he promised the people during his campaigns. Last Thursday, the Anambra State Governor, Prof. Chukwuma Soludo, presented a budget estimate of N258.9 billion for the year 2023 to the state house of assembly. The budget tagged; Budget of Acceleration budget was made up of a capital budget of N164.2 billion, accounting for 63.2 percent of the budget and a recurrent expenditure of N95.5 billion, accounting for 36.8 percent of the budget. Soludo, a former Central Bank governor had made previous attempts at becoming the governor of Anambra State which failed. In 2010, Soludo ran on a manifesto tagged; making Anambra Africa’s Dubai/Taiwan. In the manifesto, Soludo had given practical steps of how Anambra could be developed and industrialized, but his opponents derided him, while describing the proposal as utopian. In 2013, he had attempted again, but was disqualified at the party level by the All Progressives Grand Alliance (APGA). In 2017, when many had thought he would contest again, Soludo cleverly supported the re-election of Chief Willie Obiano, insisting that the then governor was doing well and didn’t need to be changed. In a paper he had delivered then, with the caption; “If it’s not broken, why mend it”, Soludo argued that you cannot change a winning team. Many suspected that there may have been an alliance between Soludo and Obiano to hand power to him. True to this, Obiano ensured against all odds, that he handed Soludo. As governor of Anambra State today, Soludo is saddled with the task of walking his talk by developing and industrializing Anambra State as he promised. Part of the tool to achieve this will be a good budget for the state, and Soludo does not seem unmindful of these, especially as he presented his first ever budget as a governor. Soludo had told the lawmakers that the 2023 budget has a deficit of N13 billion, with N91.8 billion or 56 percent of the total being capital expenditure, which is dedicated to roads, transport, power and urban regeneration. Previously, Soludo had before his 100 days

Soludo

in office approached the state house of assembly for a loan to help him kick start his projects for Anambra. He had earlier hinted that the coffers of the government was empty, and his government needed to hit the ground running. The state lawmakers had in view of this approved a N100billion loan for the governor. So far, Soludo seemed to be truly focused about where he is taking the state to, as he has within eight months in office battled insecurity, and also flagged off major roads in the state to connect communities. The 2023 budget when eventually passed will help the governor to implement fully his policies as he has all along been running on the budget of his predecessor. The State Commissioner for Budget & Economic Planning, Ms Chiamaka Nnake, at a press conference later analysed the recently presented budget urging Anambra people to watch out for something great as the 2023 budget which shall

focus on key deliverable projects. Nnake said: “The 2023 proposed budget is at a sum of N258,984,875,905 approximately at N259 billion. This is compared to the revised 2022 budget of N169.6 billion. The capital expenditure increased by 51.1per cent from N108.2 billion in the 2022 revised budget to N163.5 billion. While the recurrent expenditure increased by 55.6per cent from N61.4 billion to N95.5 billion in the 2023 proposed estimate. “Every budget has its capital and recurrent. The capital expenditure accounts for 63.1% of the budget size while the recurrent accounts for 36.9 per cent of the budget size. Key infrastructural projects account for 55.4 per cent of the capital expenditure and 35 per cent of the entire budget size. The composition of recurrent budget includes; salaries (21.6 per cent) of the recurrent expenditure, social benefits (15.2 per cent), overhead (30.5 per cent), loan repayment (17.5per cent) among others. “Sectorial allocation covers four broad sectors which includes the administrative sector, economic sector, law & justice sector, social sector. The capital expenditure within the administrative sector accounts for 6.8 per cent of the capital budget. The economic sec-

tor accounts for 72.5 per cent. Law and justice sector accounts for 2.1 per cent while the social sector accounts for 15.2 per cent of the capital budget size.” The commissioner continued that the 2023 budget will highlight key deliverable projects that Anambra people will be able to feel, touch and experience. She went ahead to state the allocation for various sectors and the plans to revamp them. Her words: “The Leisure park project that will be delivered by the Ministry of Culture, Entertainment and Industry has a budget of N7.5 billion. Under the Ministry of Education, the state Government is revamping the educational system with a budget of N8.4 billion, a mass improvement of N2.2 billion estimated in budget appropriated in 2022. “The health system has a budget size of N6.2 billion. The site design, preparation of industrial city and Export Processing Zone under the Ministry of Works has a budget of N2 billion. Legal outreach and mass mobilization of ndi Anambra delivered by Ministry of Information has a budget of N200 million. Completion of ongoing road projects and construction of new ones which will be delivered by the Ministry of Works is budgeted at N70 billion. “Urban regeneration for Anambra which shall come up with iconic designs, road mapping and giving Anambra a facelift is budgeted at N2.5 billion under the Ministry of Works. For Ministry of Youths, two key projects shall be delivered; development of Anambra innovation and business district is budgeted at N1 billion while Youth innovation and empowerment program is budgeted at N2.5 billion. Women Affairs shall have a solution based cooperative for economic empowerment budgeted at N1.5 billion. “For Housing projects; Government House, Government Lodge and Commissioners Quarters budgeted at N4.5 billion. Sports development is budgeted at N1.5 billion. In improving the transport infrastructure, the State NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Issues Before Osun Election Tribunal as Sitting Resumes Wednesday Ismail Omipidan writes on the issues before the Osun state governorship election tribunal as it resumes sitting in Osogbo, the state capital today

y Wednesday, November 16, 2022, the Osun Election Petition Tribunal will resume hearing in the petition filed by Governor Adegboyega Oyetola and the All Progressives Congress (APC) challenging the declaration of the candidate of the People’s Democratic Party (PDP), Senator Ademola Adeleke, as the winner of the July 16, 2022 Governorship election. The declaration is being challenged on two fronts: One, that as at the time Senator Adeleke stood for that election, he was not qualified. Two, that he did not score the valid votes to be so declared. From the first day when Oyetola filed his petition, the PDP, represented by one of its lawyers, Kolapo Alimi, who incidentally had served as a commissioner in the APC government under the immediate past administration for close to eight years, said Oyetola and the APC had no case. But each time the PDP engages in public conversations, especially on radio over the issue, they are unable to hide their anger that Oyetola is challenging their declaration at the tribunal. Added to their anger is their botched attempt at misleading the public into believing that the tribunal would stop sitting in the wake of a decision by an Abuja Federal High Court, challenging the candidature of Oyetola, a decision that is already being challenged at the Appeal court, in Abuja. They are unable to explain to the public why the tribunal is still sitting till date after

Oyetola

Adeleke

they had boasted to their members that the Federal High Court decision would put paid to the tribunal sitting. Only on Monday, the same Alimi was on a Radio Programme, using all kinds of unprintable words to describe the governor and the proceedings at the tribunal, insisting that the petition was dead on arrival. However, this piece is not about what Alimi said on Monday or what the PDP spilled out about the tribunal proceedings after the last sitting, where it issued three different press releases under 24 hours,

including conducting an interview with one of its lawyers and presenting same as though it was part of the proceedings of the last day. It comically titled it: “PDP reported Oyetola, APC to the Tribunal.” But this piece is largely a review of the last proceedings with a view to bringing the reading public up to speed with the tribunal sittings. Before the tribunal went on a weeklong recess, it sat for four days non-stop. Day One

It was on a Monday. Counsel for Oyetola and APC, Chief Lateef Fagbemi (SAN), had informed the court of his intention to tender some documentary evidence to prove the alleged non compliance with the Electoral Act by INEC. But Counsel for the PDP, Alex Izinyon (SAN), objected to it on the ground that it ran foul of Paragraph 3 of the pre-hearing report which indicated that list of witnesses should be filed 24 hours to the hearing. He argued that since the petitioners have allegedly failed to comply with the tribunal order, the petition should be dismissed as the consequences of the action. Counsel for INEC, Professor Paul Ananaba (SAN), also toed his line. But Counsel for Adeleke, Onyeachi Ikpeazu (SAN), made a different submission. He contended that since the petitioners were ready to tender the documents, they ought to have allowed the respondents to have access to them earlier and cross-check, so that the process would be seamless. Responding, the petitioners’ Counsel, Fagbemi, argued that paragraph 3 of the pre-hearing report being relied on by the PDP counsel was not in any way referring to documentary evidence, but calling of witnesses. -Omipidan, is the spokesperson to Osun state Governor. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ ͯʹ˜ 2022

FEATURES

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

A Declining Institutional Identity The institutional identity of Nigeria’s national assembly is on the decline. This is exemplified by the recent decision by the country’s business community to go to court against claims of legislative abuses. Chineme Okafor in the context of this and some others, writes, questioning what the parliament is really about

igeria chose to go with presidential democracy when it returned to civil governance in 1999. With this, it has a clear separation of power in practice between the executive, legislature and judiciary; each arm expected to preserve their institutional identity. For the legislature which chiefly makes laws, represent people, and oversight other arms especially the executive, its institutional identity would always revolve around devotion to the country and its wellbeing. Nigeria’s national assembly has hardly done these, especially lately with the 9th assembly. As it were, the assembly has turned committee summons and hearings which are most commonly held to consider pending legislation, investigate issues that may require future legislation, as well as probe and oversee federal programs for which they had deliberated on and approved budgets, into witticism. Summons and hearings reflect the most important issues of the day and what should occupy legislative agenda and attention. They should equally involve honest and thoroughly done investigations not only to help legislators make better policy decisions, but also to self-regulate their actions in line with national wellbeing. At the centre of investigatory summons and hearings should be national wellbeing, the need to always do right for the country, and never for less noble purposes, such as the blackmails of businesses, government agencies and institutions. This, with readily-available examples have become the practice in Nigeria’s parliament, forcing a group of businesses – the Organised Private Sector of Nigeria (OPSN) – to challenge in court, the powers of the parliament to summon and conduct hearings on their businesses. In contest here, is the investigatory powers of the parliament in the 88th and 89th sections of the 1999 Constitution, which inter alia revolves around the reach of the parliament’s investigatory powers. Government agencies such as the Nigerian Electricity Regulatory Commission (NERC), the Nigerian National Petroleum Corporation Limited (NNPC), the Niger Delta Power Holding Company PLC (NDPHC), the Nigerian Bulk Electricity Trading Plc (NBET), amongst others have repeatedly lost man-hours on account of not so noble legislative summons and hearings. Same as other companies jointly owned by Nigeria and private entities like the Nigeria Liquefied Natural Gas (NLNG) Limited. Questioning an Abnormality Throwing down the gauntlet, the OPSN decided to challenge the incessant invitations and summon of its members by the national parliament in court. It also thought to include in this legal challenge, the powers of the parliament to maliciously pry into the activities of private business concerns in the country. For sure however, it is expected that the national parliament would and should conduct investigative hearings and summons on issues and events that threaten the national wellbeing. The parliament would for instance, never fold its arms and watch the country’s young people waste away in substance abuse with private companies and individuals involved. But the OPSN which really comprised the country’s economic backbone – the Manufacturers’ Association of Nigeria (MAN), Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), National Association of Small-Scale Industrialist (NASSI), National Association of Small and Medium Enterprises (NASME) and Nigeria Employers’ Consultative Association (NECA) – don’t seem oblivious of this. From the public statement they put out, they want a judicial clarification of the constitutionality, scope and extent of 88th and 89th Sections of the 1999

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Gbajabiamila Constitution on businesses in the country’s private sector. “The crux of the matter is the determination of the extent of legislative investigatory powers as contained in Sections 88 and 89 of the 1999 Constitution, especially how it applies to businesses in the private sector,” they said in the statement, while noting their decision to equally challenge the grounds relied upon by the parliament’s committees to invite companies in the private sector to their investigative summons and hearings. Is the Parliament Distracting National Wellbeing? The OPSN also alleged that with their summons, the parliament had become a threat to businesses in the country. They highlighted that the summons had become meddlesome and pointless because according to them, it really isn’t the job of the parliament to do. This also raises questions on where the heart of the parliament is with regards to national wellbeing. In a broader context, the claims of the OPSN also suggested that the acts of the parliament could be messing up the business environment. Before the World Bank rested its annual ‘ease of doing business’ index which Nigeria subscribed to then, and which ranked economies according to how accommodating they were to businesses, usually in regulations, protections for property rights amongst others, the country didn’t seem to be top in the positive ranking cadre. Such acts may have been contributory to the country’s poor showings then. “We had written severally to the committees informing them that their action is not only a distraction to organised businesses but also a usurpation of the powers and responsibilities of the executive

arm of government. “Our understanding of the powers conferred on lawmakers by Sections 88 and 89 of the Constitution is for the exercise of oversight functions on public sector agencies. We, honestly, cannot find any support in the aforementioned sections for investigations of private companies,” they said in what sounded like a bitter complaint. With a somewhat instructive tone, the OPSN further said: “In our view, the legislature cannot make law and supervise its execution. We strongly believe that the intended investigation falls within the prerogative of the executive arm of the federal government. This is based on the doctrine of separation of powers in Nigeria. “If the National Assembly’s committees have issues with the way and manner the executive arm is carrying out its responsibilities of ensuring compliance to various laws and regulations, their focus of investigation should be directed at the relevant Ministries, Departments and Agencies of government rather than the private sector.” They additionally explained that they, “had made several representations to the various committees and also approached the courts,” for protection, without responses from the parliament whom they also accused of disregard for court practices in similar situations. “It would appear that the lawmakers are not adhering to this rule, even when they are parties in the matter and the case is still pending in a court of competent jurisdiction. The NASS’ committees should tarry for the court to make pronouncement rather than continue the unabated harassment of legitimate business owners. “Businesses are already faced with myriads of challenges, and it will be counter-productive for some committees of the NASS to constrain the wheel of the most productive sector of the economy. Our expectation is that legitimate businesses should be supported by the NASS’ committees complimenting the efforts of the executive arm of government by legislating laws that will make the business environment friendlier to attract domestic and foreign investments,” they noted. NLNG, a Case Study Within the context of the case raised by the

Our expectation is that legitimate businesses should be supported by the NASS’ committees complimenting the efforts of the executive arm of government by legislating laws that will make the business environment friendlier to attract domestic and foreign investments

OPSN, a recent ‘directive’ of the parliament to the NLNG to pay about N18 billion to 73 communities over claims of right of way (RoW) compensation, thus comes to mind and as such, questions the investigative intentions of the legislators. At the core of the RoW compensation claims made by the 73 communities in Rivers state is the question of adherence to existing laws guiding the placing of oil pipelines in communities. Nigeria has a law – the Oil Pipeline Act – which cover license and RoW compensation. The law is administered by the government, with oil and gas companies in the country subjected to it. In reconsideration, the NLNG, which has a reputation for respect for the law and business processes, has however been accused of failing to abide by this law. The parliament arrived at this without detailed investigations of the situation, especially with reference to relevant public agencies such as the ministry of petroleum resources which is within its investigative reach. Yet, in defence of its reputation and processes, the NLNG like the OPSN noted that it has strictly operated its pipelines by the dictates of the extant law governing the acquisition of pipeline RoW, and that its pipeline license remains prima facie evidence that all conditions that were needed to be met for its grant, including payment of compensation to impacted parties, were met. It explained that it followed to acquire its pipeline RoW, saying, “the acquisition of RoW by NLNG was open, transparent and participatory, in line with extant law, which led to the granting of NLNG’s Pipeline License in the first place without any objection from the communities. The process included advertisements calling for objections against grant of the licence, followed by duly advertised public hearings that were held for the purpose of hearing such objections.” “NLNG’s pipeline license was for an initial period of 20 years from when it was granted in 1997 and then renewed in 2017 for 15 years after another duly advertised renewal process in which there was no objection from any quarter,” it added, noting that any further compensation payment would amount to double compensation, an unlawful act, and further exposure to unmerited future claims. It further stated that it, “maintains an excellent relationship with its over 100 host communities that are satisfied with the payments made over its pipeline Right of Way (RoW) acquisition,” thus throwing down the gauntlet on the parliament to be honest with its summons, hearings and directives. NLNG said that it recognised the cultural attachment Nigeria has on land, and thus made further provisions in this regard to accommodate communities into its operations by awarding RoW surveillance and maintenance contracts to the land-owning families. “NLNG has consistently recognised the people’s cultural attachment to land and has therefore adopted a systematic approach in its pipeline communities to promote a sense of ownership. There is no legal requirement for operators to enter into MoU with host communities, NLNG has however without any prompting, entered into GMoUs with its host communities to enable them take better ownership and responsibility over their development under NLNG funding,” it added. In the context of the claims by the 73 communities, the question really to ask is and which should command the attention of the parliament is, how did the NLNG which was incorporated 33 years ago, and has been operating and delivering returns to its shareholders including the Nigerian state, its biggest shareholder with 49 per cent, escaped paying RoW compensation to 73 communities? Could this have happened for that long without the 73 communities going up in arms?

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Championing Human Capital Development through SFTF Uzoma Mba writes that Olam Agri's Seeds for the Future grant is leading investment in education and human capital development with focus on four key social action pillars including support for farms and farmers, enabling wider education and skills development for young people, empowering indigent women, and promoting health and nutrition across the country

The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo and the Country Head, Olam Agri Nigeria, Mr Ashish Pande, unveiled the Seeds for the Future Foundation memorabilia at the launch of the foundation and education scholarship in Abuja, recently

strong investment in education is the bedrock of the knowledge economy - a preferred economy model which has an impressive track record of transforming the top economies in the world. Of course, this is because the education foundation of a country's human capital is critical to national productivity. Hence, no country can achieve a rounded human capital level without prioritising investment in education. Meanwhile, investment in education is not the responsibility of governments alone. Private organisations can facilitate faster development of the education sector in their operating markets. By providing support such as scholarships to members of the indigent households in their communities, and delivering crucial learning infrastructure to aid students' learning experience, businesses can put themselves forward as angels of blessing. This valuable socioeconomic input often yields shared prosperity along the multi-layered social fabrics. In the long, it will enhance the gross domestic production position of the nation; ensure businesses have access to a deep talent pool locally and improve standards of living down the socioeconomic ladder. The Country Head for Olam Agri Nigeria, Mr Ashish Pande, hit an important point that correlates with the foregoing at the launch of the business’ signature social investment vehicle, the Seeds for the Future Foundation in Abuja. He mentioned a strong pivot to building a knowledge economy as key to attaining a favourable position for Nigeria in the committee of nations. To sheer applause, Ashish affirmed that Olam Agri, which is a leading agribusiness in food, feed, and fibre and an operating group of Olam Group, is committed to driving the transformative pivot. Of course, to drive the achievement of the all-important economic aspiration, the business decided to launch the growth-focused Seeds for the Future Foundation. Olam Agri Nigeria’s Seeds for the Future Foundation will focus on four key social action pillars, namely: supporting farms and farmers (improving local wheat production), enabling wider education and skills development for young people, empowering indigent women, and promoting health and nutrition across the country. These segments are critical to achieving development in any economy. As it were, it is becoming increasingly important for businesses to prioritise the growth of their host communities. It seems that the agribusiness has carefully selected those key action pillars to enable impactful growth in the economy. The education grant initiative for undergraduates, for instance, is the business' way of deepening its impact in the education sector to strengthen the country’s knowledge bank as well as raise the national skill level. The education grants are targeted at the less privileged and indigent segment who hardly

can afford higher education tuition. The grants will be awarded to the best-qualified applicants in the segment. Recipients will be picked using a merit-based selection process that strictly adheres to the rules of fairness, transparency, and independent audit, from the application, and shortlisting, all through to the finalists’ selection stages. More importantly, it will be open to all the courses of study offered in Nigeria’s public tertiary institutions. Notably, the grant will provide quality support for young, bright Nigerians, driving them closer to the actualization of their fine aspirations. Seeing that enabling wider education and skill development for the active segment of the population is critical to stimulating economic competitiveness, the Seeds for the Future Education Grant is in support of the government’s overall growth focus. The Vice President of the Federal Republic of Nigeria, Prof Yemi Osinbajo, who was a special guest at the launch event, and launched the Seeds for the Future Foundation, fittingly captured the significance of the investment. He said, “I think the Board of Olam deserve our heartfelt commendation and gratitude for giving us several reasons to be hopeful and to celebrate. Through the “Seeds of the Future Programme”, Olam has invested in two important types of seeds. First, the seeds you are planting by investing in the education of our young people through the Education Grant initiative for undergraduates.” “The second is of course the very highly successful and award-winning Wheat Seeds Trial project, which I am told, achieved its first-year milestone of producing 10kg of pre-multiplication wheat seed varieties and was showcased at the UN Climate Summit and

was nominated for an international grant,” he explained. On the launch of the foundation, Ashish said, “We’re supportive of the Government’s economic development agenda and we recognize that the private sector has a key role to play to collaborate to drive sustainable growth in communities.” He revealed, “Enabling wider education and skill development for young people is one key area of focus. The education grant will make a valuable contribution to supporting students to fulfil their potential and more broadly developing the country’s human capital.” In 2021, Olam Agri Nigeria convened stakeholders in the wheat value chain to a consultation forum. As part of the takeaways from the forum, the business initiated the Seeds for the Future project. The project mandated investment in research to develop seed varieties that suit the unique climatic and topography conditions of the country. The critical investment focus has further morphed into scaled socioeconomic development projects, the Seeds for the Future Foundation, targeted at delivering strong inputs across key sectors of the economy. On a grander level, it focuses on accelerating the achievement of the Federal Government's economic development agenda. The launch of the education grants is the offshoot of the scaled investment focus. That corporate investment action underlines the company’s confidence in Nigeria’s future as indicated by Ashish Pande. The future hinges on a smooth transition from a resource-based economy to a knowledge economy which prioritises human capital development, top-skill acquisition and service delivery. Knowledge has become a priceless national asset. From the oval office in North America to the revered Berlaymont in Brussels, and the Zhongnanhai in China, governments are hashing out policies that would accelerate the adoption of education syllabi that focus on imbibing the underlying principles of the knowledge economy. This policy focus is key to favourably positioning the national workforce among the evolving well-educated and highly skilled army of the 21st-century global workforce. It is also seen as fundamental in winning the race to sustain economic competitiveness.

Olam Agri Nigeria’s Seeds for the Future Foundation will focus on four key social action pillars, namely: supporting farms and farmers (improving local wheat production), enabling wider education and skills development for young people, empowering indigent women, and promoting health and nutrition across the country. These segments are critical to achieving development in any economy

Almost all modern growth theories support the transition to a knowledge-based economy. Charles Jones, an economist at the University of California posited in a World Bank paper that “Knowledge is a key driving force underlying economic growth”. He mentioned Kramer’s O-Ring theory, and Ben-Porath and Bil's models of human capital development as examples of growth theories that support the overarching role knowledge asset plays in enriching an economy. More, the World Bank developed a framework that identified key knowledge economy pillars among which education, research and innovation come top. Meanwhile, a country that prioritises achieving economic competitiveness therefore must consistently shore up its vital sectors with new knowledge. To attain food security, the agriculture sector would require deep investment in research, and training in trendy farming techniques to meet the challenges of a new climate era. The manufacturing, ICT, and health sectors also require a similar focus. By investing in research, education and training, and women empowerment while promoting health and nutrition for a healthy body, Olam Agri Nigeria is tackling those hurdles that had long impeded growth in the country. Olam Agri is a market leading, differentiated food, feed and fibre agri-business with a global origination footprint, processing capabilities and deep understanding of market needs built over 33 years. With a strong presence in high-growth emerging markets and products across grains & oilseeds, animal feed & protein, rice, edible oils, specialty grains & seeds, cotton, wood products, rubber and commodity financial services, Olam Agri is at the heart of global food and agri-trade flows with more than 40 million MT in volume traded annually. Focused on transforming food, feed and fibre for a more sustainable future, it aims at creating value for customers, enable farming communities to prosper sustainably and strive for a food-secure future. Olam Agri is a fully owned subsidiary of Olam Group. Olam Group on the other hand is a leading food and agri-business supplying food, ingredients, feed and fibre to 20,900 customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a global network of farmers. Through our purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam Group aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders. Headquartered and listed in Singapore, Olam Group currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST.

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Wednesday November 16, 2022 Vol 27. No 10081

opinion@thisdaylive.com

www.thisdaylive.com

WAITING FOR 5G SERVICES SONNY ARAGBAAKPORE writes on the promise of 5G internet services in Nigeria

ZAYD IBN ISAH writes on ACP Daniel Amah and the rewards for integrity in the workplace

THE HONEST COP “Have the courage to say no. Have the courage to face the truth. Do the right thing because it is right. These are the magic keys to living your life with integrity” – W. Clement Stone.

See page 27

TYRANNY OF A TINY MINORITY Fredrick Nwabufo is concerned by the antics of those who use social media to spread disinformation and hate

See page 27 EDITORIAL

NIGERIA AND THE CLIMATE CHANGE DEBATE

See page 28

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ACP Daniel Amah

WKH EULEH UHMHFWLQJ SROLFH R΀ FHU I have lost count of how many WLPHV KH KDV WDJJHG PH RQ YLGHRV of policemen misbehaving DQG RQ QHZV RI SROLFH R΀ FHUV FROOHFWLQJ ¶(JXQMH· RQ WKH URDG %XW ZKHQ 'DQLHO $PDK KDSSHQHG KH GLVDSSHDUHG IURP UDGDU ,W ZDV W\SLFDO , DP GHOLJKWHG WKDW 'DQLHO $PDK KDV SURYHG PH ULJKW 7KDW WKHUH DUH D IHZ EDG HJJV LQ WKH SROLFH DV there are among people in other SURIHVVLRQV GRHV QRW PHDQ WKHUH DUH QR KRQHVW R΀ FHUV ,Q IDFW WKHUH DUH PDQ\ 0HDQZKLOH , KDYH ZULWWHQ about the heroic exploits of 'DQLHO $PDK DV D 'LYLVLRQDO 3ROLFH 2΀ FHU LQ .DQR EHIRUH DQG , GHHP LW QHHGIXO WR ZULWH

Daniel Amah’s Presidential award and his meteoric rise from the rank of Superintendent of Police to Assistant Commissioner of Police is proof that demonstrating integrity pays

about him again, especially DIWHU WKH 3UHVLGHQWLDO DZDUG DQG his recent Special Promotion WR WKH UDQN RI DQ $VVLVWDQW &RPPLVVLRQHU RI 3ROLFH E\ WKH 3ROLFH 6HUYLFH &RPPLVVLRQ 7KH WK $PHULFDQ 3UHVLGHQW 'ZLJKW (LVHQKRZHU VDLG ´7KH VXSUHPH TXDOLW\ IRU OHDGHUVKLS LV XQTXHVWLRQDEO\ LQWHJULW\ Without it, no real success is possible, no matter whether it is on a section gang, a football À HOG LQ WKH $UP\ RU LQ DQ R΀ FH µ 7KH PRVW LQWHUHVWLQJ WKLQJ DERXW $&3 'DQLHO $PDK·V EULEH UHMHFWLRQ RͿ HU LV WKDW KLV WRWDO VDODULHV IRU \HDUV LV QRW XS WR À IW\ PLOOLRQ QDLUD <HW KH UHVLVWHG WKH XUJH WR EHFRPH ULFK RYHUQLJKW E\ KRRN RU FURRN +H KDG WKH FKDQFH WR NHHS ZKDW FRXOG KDYH IHWFKHG KLP PRUH WKDQ D KXQGUHG PLOOLRQ 1DLUD ZKLFK KH FRXOG KDYH UDWLRQDOLVHG %XW DV D JRRG &KULVWLDQ KLV FRQVFLHQFH ZRXOG QRW DOORZ KLP WR GR VXFK D WKLQJ 'DQLHO NQRZV ZKDW WKH %LEOH VD\V LQ 3URYHUE WKDW ´D JRRG QDPH LV WR EH FKRVHQ UDWKHU WKDQ JUHDW ULFKHV µ 'DQLHO $PDK·V 3UHVLGHQWLDO DZDUG DQG KLV PHWHRULF ULVH IURP WKH UDQN RI 6XSHULQWHQGHQW RI 3ROLFH WR $VVLVWDQW &RPPLVVLRQHU RI 3ROLFH LV SURRI WKDW GHPRQVWUDWLQJ LQWHJULW\ SD\V ,W LV D YLUWXH ZH QHHG WR promote in several areas of our national life if we must UHEXLOG RXU VRFLHW\ 7KHUHIRUH 'DQLHO·V KHURLF H[SORLWV VKRXOG be a lesson not only to the civil/public servants, but to all Nigerians, irrespective of UHOLJLRQ DQG HWKQLFLW\ 1DWLRQDO LQWHUHVW VKRXOG FRPH À UVW LQ ZKDWHYHU ZH GR DQG RXU JUHHG VKRXOG FRPH ODVW &RQJUDWXODWLRQV $&3 'DQLHO $PDK RQ \RXU ZHOO GHVHUYHG 3UHVLGHQWLDO $ZDUG DQG 6SHFLDO 3URPRWLRQ 0D\ 1LJHULD DQG WKH 1LJHULD 3ROLFH )RUFH VXFFHHG Isah writes from Abuja. He can be reached via isahzayd@gmail.com

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SONNY ARAGBA-AKPORE writes on the promise of 5G internet services in Nigeria

WAITING FOR 5G SERVICES 2Q 6HSWHPEHU ZKHQ 071 carried out what looked like a roll out of its 5G commercial services in Nigeria, it’s Chief Executive, Karl Toriola was full of excitement and boasted in a speech before all present that: “5G will change everything. It will allow us to connect, create, collaborate, and compete in ways we cannot imagine yet. Today we will show you a glimpse of the many possibilities 5G has in store. What is most important is what you and every Nigerian can create with it.” Toriola is certainly one of the choristers in this 5G orchestra performing a hit song even though he can only sing the verses allocated to him according to the song writers and choir masters. At the wellchoreographed event, one of the

promoters of the 5G and Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, noted, “Today, we are celebrating the outcome of the successful auction of the 5G spectrum, we are celebrating the commercial launch of 5G services in the country. This puts the country in the global 5G space and from today many of you will experience the super speed associated with 5G.” 5G project in Nigeria has been laced with so many speeches so much that it has become a very big orchestra with many song writers as we await the services. As we write today, it’s not clear where the services are being received especially when DV LW DSSHDUV RQO\ 071 LV WU\LQJ WR run a race two licensees began. In 'HFHPEHU 071 DQG D OLWWOH known portfolio company or a 6SHFLDO 3XUSRVH 9HKLFOH 639 0DIDE Communications Limited won the two available lots then. The auction was done with so PXFK IXQ IDUH WKDW PDGH 0LQLVWHU ,VD Pantami to giggle with thumbs up as if Nigeria had won major awards like the Nobel,the Oscar and Booker prizes including a Grammy for this ´ IHDWµ :KLOH 071 SDLG LWV P OLFHQVH IHHV LQ D UHFRUG WLPH 0DIDE wobbled until NCC announced WKDW 0DIDE KDG SDLG LWV IHHV $QG DV 071 DQQRXQFHG D WHVW UXQ DQG SUH

ODXQFK RI FRPPHUFLDO VHUYLFHV 0DIDE said the regulator had granted them DQRWKHU À YH PRQWKV WR JHW UHDG\ And we now realized that 5G is not for rookies. Too many speeches have dogged this 5G in Nigeria. In another few weeks from today, the NCC will carry out another licensing for two more ORWV DW D UHVHUYHG SULFH RI P SHU ORW :LWK 071 VDLG WR EH DW SUH FRPPHUFLDO ODXQFK VWDJH DQG 0DIDE Communications yet to initiate any of the stages, industry players are worried that the NCC should have tarried a little while to see the full implementation of the two licenses before beginning a new licensing round as everything appears very slow by the operators than the consumers were made to expect. And this on its own is a major drawback. 'DQEDWWD WROG WKH 6HQDWH &RPPLWWHH RQ )LQDQFH RQ 6HSWHPEHU that the Federal Government will JHQHUDWH RYHU 1 EQ LQ À VFDO year through the 5G spectrum. While addressing the committee during the interactive meeting on the 0HGLXP 7HUP ([SHQGLWXUH )UDPHZRUN DQG )LVFDO 6WUDWHJ\ 3DSHUV 07() )63 KH VDLG WKH SURMHFWHG revenue would be realised from the auctioning of two 5G spectrums and the bidding process for auctioning of the spectrums. But it’s not clear whether the intention of the NCC is guided by the race to generate revenue for the government or provide licenses as parting gift for some vested interests or to enable 5G services in the interest of subscribers in the country who want to have a very good taste of broadband internet for which the National Broadband Plan targets E\ " 6R PDQ\ TXHVWLRQV DUH EHJJLQJ IRU answers especially when two of the already licensed for 5G services are yet to grapple with service provisions. :KDW LV YLVLEOH LV WKDW 1LJHULDQV 0D\ wait longer than necessary for the hyped 5G services. No fewer than 13 countries are in various stages of 5G service implementation in Africa. $V DW 0D\ WKLV \HDU * VHUYLFHV KDG begun in Ethiopia,Botswana, Egypt, *DERQ .HQ\D /HVRWKR 0DGDJDVFDU 0DXULWLXV MRLQHG E\ 1LJHULD 6HQHJDO 6H\FKHOOHV 6RXWK $IULFD 8JDQGD and Zimbabwe. A third of the global population is expected to be covered by 2025. In terms of 5G innovations, and VSUHDG FRXQWULHV OLNH WKH 86 &KLQD 6RXWK .RUHD -DSDQ 1HWKHUODQGV and the Philippines have some of the biggest rollouts. And in terms of the number of cities with 5G services, &KLQD OHDGV WKH SDFN ZLWK FLWLHV ZKLOH WKH 86 IROORZV FORVHO\ EHKLQG ZLWK FLWLHV Aragba-Akpore is a Member of THISDAY Editorial Board

Fredrick Nwabufo is concerned by the antics of those who use social media to spread disinformation and hate

TYRANNY OF A TINY MINORITY It must be their way or the highway to hell. These are intellectual indigents who KDYH VHFXUHG UHVLGHQFH RQ GLͿ HUHQW VRFLDO media platforms. They maul and bludgeon DQ\RQH ZKR GLͿ HUV IURP WKH KHUG According to them, death is the penalty for GLͿ HULQJ %XW WKLV LQVLGLRXV PRE FDQ KDYH their say; they cannot have their way. While Bola Ahmed Tinubu, presidential candidate of the All Progressives Congress (APC), has steadied his campaign on critical issues – economy, security, education, healthcare and the like – some other presidential candidates have been

dutiful in advancing hate and fake news. It is dispiriting that some young people enlist themselves into morbid mobs to tear down divergent voices for some assumed SROLWLFDO PHVVLDKV 3DWULRWLVP LV GHÀ QHG around the choice of candidate, and not on allegiance to national ideals. It is very unfortunate. Youth unemployment should be a critical issue this season. The current unemployment rate is put at 33 percent. It is really concerning. There is no doubt that this is a vector of a spectrum of social anomalies. With a youth population of over 120 million, it is imperative that young people are at the heart of policymaking in Nigeria. In his Action Plan concepted as ‘Renewed Hope’, Tinubu delineated seminal elements to harnessing youth potential. He says, as president, the youth will not be exploited to do the bidding of the government. He says his administration will aim to cut the youth unemployment rate in half within four years through entrepreneurship and job creation as well as through social and political empowerment. On the entrepreneurship and job creation plank, Tinubu says his government will work with the CBN to develop suitable incentives to encourage commercial banks to target low-cost loans towards a given quota of youth-led enterprises. He says commercial banks will also be encouraged to ensure their loan application processes DUH VLPSOLÀ HG DQG JLYH JUHDWHU SULRULW\ to young people with marketable ideas, DQG WKDW IHGHUDOO\ RZQHG DQG D΀ OLDWHG banking institutions will immediately be mandated to develop similar schemes for young entrepreneurs. The APC presidential candidate says there will be an increase in intergenerational, business mentoring and cooperation with two million volunteer entrepreneurs and professionals across the nation committed to working with the \RXWK WR À QG HPSOR\PHQW KRQH MRE VNLOOV and create businesses.

This is clearly a plan and an antiserum to the contagion of youth restiveness and delinquency. It is disturbing that young people on the internet resort to promoting ethnic and religious prejudices, and passing sentences, threats, and curses on those whose political choice is at variance with their preference. Concerning are the chronic onslaughts by supporters of Peter Obi, presidential candidate of the Labour Party (LP), against citizens from the south-east who do not support his bid. They threaten to cause harm, curse, and use every vile instrument in Frankenstein’s toolbox to drive fear DQG LQWLPLGDWH GLͿ HULQJ YRLFHV 6XFK hate and prejudice should not be found among well-meaning citizens. &KXNZXPD 6ROXGR JRYHUQRU RI Anambra state, became a casualty of the Obi Red Army when he only FRQÀ UPHG WKH REYLRXV ,Q DQ LQWHUYLHZ in 2018, Peter Obi had claimed he invested $20 million in International Breweries on behalf of Anambra state while he was governor. This is a company that he has interest in. But 6ROXGR VDLG 3HWHU 2EL·V SXUSRUWHG investments in Anambra are worth next to nothing. He said: “I think there was something I read about somebody speculating about whatever investment. With what I’ve seen today, the value of those investments is worth QH[W WR QRWKLQJ 6R OHW·V OHDYH WKDW aside.’’ It is disturbing that despite the promise of issue-based campaigns by contending political parties, the entire political expedition is dissolving into a free-for-all with divisive methods, slander and fake news deployed, particularly by opposing parties. The rippling of a fake statement purportedly emanating from the Independent National Electoral Commission (INEC) alleging a probe of Tinubu is a clear breach of the sanctity of the campaigns. Although INEC quickly torpedoed the fake statement, the attempt underscores the predatory and sinister complexion of our politics. As I often say, if we divide the country during the campaigns, we will have to live with the consequences of presiding over a divided people. If the purpose of seeking power is for the good of all, then we must begin by keeping the campaigns clean. What is the good of power when the next government will spend the next four years struggling to mend fences and manage diversity without success? We will only be reinventing a parlous wheel. If we sow hate during the campaigns, we will reap hate afterwards. The travails of the past years should teach us not to make campaigns about ethnic and religious prejudices, threats, curses, slander, and fake news. The parties going down this scorched and serpentine path, must beat a retreat. Fredrick Nwabufo, aka Mr OneNigeria is a writer and journalist

28 4

T H I S D AY

WEDNESDAY NOVEMBER 16, 2022

EDITORIAL

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

NIGERIA AND THE CLIMATE CHANGE DEBATE The proposition by Vice President Yemi Osinbajo on debt for climate is the way to go

he 27th Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCCC) held last week in Sharm El-Sheikh, Egypt. The single most important item on the agenda was the implementation of the Paris Agreement to keep the global average temperature rise within 1.5 degree Celsius. The United Nations Secretary General, Antonio Guterres voiced his frustration at the nonimplementation of the agreement. In his remark at the opening plenary, Guterres said, “We are on a highway to climate hell with our foot still on the accelerator. The FORFN LV WLFNLQJ :H DUH LQ WKH ÀJKW RI RXU OLYHV DQG ZH are losing. Greenhouse gas emissions keep growing. Global temperatures keep rising and our planet is fast approaching a tipping point.” Against the background WKDW 1LJHULD KDV QR GHÀQLWH position on climate change, the debt-for-climate swap deal proposition by Vice President Yemi Osinbajo would be a useful intervention to reduce debt burdens for developing countries while advancing the objectives of the international community. At various international fora, including in the United States, Osinbajo had argued that “debt for climate swaps is a type of debt swap where bilateral or multilateral debt is forgiven by creditors in exchange for a commitment by the debtor to use the outstanding debt service payments for national climate action programmes.” In recent years, Nigeria has been ravaged by multiple climate-induced extreme weather events, particularly ÁRRGLQJ WKDW DQQXDOO\ FODLP KXQGUHGV RI OLYHV ZKLOH displacing millions. This has been partly attributed WR JOREDO ZDUPLQJ ZKLFK DͿHFWV ERWK GHYHORSLQJ and developed countries. But unlike the developing FRXQWULHV GHYHORSHG FRXQWULHV KDYH WKH ÀQDQFH DQG technologies to cope with the consequences of this UDJH RI QDWXUH 'HYHORSLQJ FRXQWULHV QHHG ÀQDQFLQJ technology and support from developed countries for mitigation, adaptation and addressing loss and damage. This is where the proposed idea by Osinbajo becomes

useful. In his opinion piece contributed to Washington Post last week, President Muhammadu Buhari expressed his frustration and that of his African colleagues with what he described as Western hypocrisy on the issue of climate change. “Governments have repeatedly failed to meet their commitments to the $100 billion fund for climate adaptation and mitigation in the developing world — for the mess their own industries caused,” Buhari wrote. “According to the United Nations, Africa LV WKH FRQWLQHQW ZRUVW DͿHFWHG E\ FOLPDWH FKDQJH GHVSLWH contributing the least to it. Even though the COP27’s agenda notes the need for compensation for loss and damages (as distinct from adaptation and mitigation funding), that demand has mostly been met with silence in the West.” We understand the point being made by the president. At COP15 in Copenhagen in 2009, rich nations made a pledge to channel US$100 billion a year to less-wealthy nations by 2020, to help them adapt to climate change and mitigate further rises in temperature. Even when these nations contribute little or nothing to global warming, the developed countries are yet to honour that pledge. The Western countries, according to Buhari, are trying to play smart on climate change by their unwillingness to WDNH SROLWLFDOO\ GL΀FXOW GHFLVLRQV WKDW KXUW GRPHVWLFDOO\ ´,QVWHDG WKH\ PRYH WKH SUREOHP RͿVKRUH $IULFD GLGQ·W cause the mess, yet we pay the price.” That, the president added, should be the starting point for all negotiations. It is good to gather annually to discuss and decide on the actions required to bring down greenhouse gas emissions known as ‘mitigation’, make adjustments to economic, social and ecological systems to cope with the impacts of climate change, known as ‘adaptation’, and UHSDUDWLRQV IRU LPSDFWV WKDW DUH GL΀FXOW WR DGDSW WR IRU vulnerable countries like Nigeria, known as ‘loss and damage’. But it is more productive to enunciate concrete actions. Osinbajo’s proposition should be Nigeria’s position.

Western countries, according to Buhari, are trying to play smart on climate change by their unwillingness to take politically diﬃcult decisions that hurt domestically T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI 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, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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

LETTERS

PRIORITIZING GENDER INCLUSION IN POLICY MAKING Addressing social norms and stereotypes that have over the years impeded naturally inbuilt women’s potentials of not just being managers and stabilisers in the family, but, also, great contributors to a nation’s socio-economic development is very necessary. The power of investment in African women, through promoting growth, stability and development, is akin to investment in nation. Hence governments of African states have been tasked to prioritise women and gender inclusion in policy making process such that it will create a pathway and cornerstone of actions by government and development partners. African women should liaise with relevant stakeholders, including government agencies, local and international NGOs to have mechanisms to interface with industry experts in ICT, media and entertainment in their respective countries in order to instigate deliberate policies on gender inclusion and women’s economic empowerment. Respective Heads of Governments in Africa, West African States in particular should work towards the establishment of a West African Shipping Line that will create greater and better economic opportunities for African women in various sectors towards empowerment in transportation sector. African Governments are also charged to invest in girls’ aspiration

to develop a career in science, technology, engineering and mathematics (STEM), while noting the need to close the gender gap in the career of STEM, as well as open more opportunities of comparative DGYDQWDJH WR IHPDOH IRONV LQ WKH ÀHOG RI 67(0 7KH SULYDWH VHFWRU should participate and continue to take the lead in the promotion of gender equality in STEM programmes, while supporting governments to develop deliberate policies to break barriers in gender inequality in the science, tech and engineering career. All these are part of communiqué issued at the end of 6th Africa Women Conference (AWC) recently held at Sir Dawda Karaibe Jawara International Conference Centre, Banjul, The Gambia. The theme of the conference: “Accelerating Women’s Economic Empowerment and Gender Inclusion Through the Media, ICT and Entertainment Industries” attracted thought provoking paper presentations from diverse backgrounds and experiences on global issues of gender disparity; gender discrimination; gender equal opportunity; sexual and reproductive health of the African woman; child marriage; sexual abuse and a host of other related subjects militating against women empowerment and development in Africa. Women and girls are also encouraged to play more active roles in Information, Communication and Technology (ICT) development

and emphasised the need for solidarity and networking amongst ZRPHQ RI LQÁXHQFH SRZHU DQG DXWKRULW\ Movie stars/professionals, music artists and other celebrities are QR GRXEW LQÁXHQWLDO LQ HQWKURQLQJ H[HPSODU\ OHDGHUVKLS DV PDQ\ of them play vital roles in shaping opinions and lifestyles of their fans through their respective callings. The conference, therefore, appealed to their sentiments to always be good ambassadors to the youth through quality representation. African women and men who are undergoing the challenges of infertility should seek help through $VVLVWHG 5HSURGXFWLYH 7HFKQRORJ\ 6\VWHP LQ RUGHU WR ÀJKW WKH VRFLDO trauma associated with infertility. The psychology of infertility often results in emotional violence which puts the African women at the receiving end. All stakeholders should use ICT, the media and entertainment industry to spread the PHVVDJH RI $VVLVWHG 5HSURGXFWLYH 7HFKQRORJ\ 6\VWHP WR ÀJKW WKH PHQDFH RI VWLJPDWLVDWLRQ 7KHUHIRUH GHVSLWH DGYRFDF\ HͿRUWV E\ YDUious organisations, there is the resolve also that it must continually advocate for social justice and the empowerment of women. Dr. Jumai Ahmadu, Ag. Director, FCT Reform Coordination & Service Improvement Department

T H I S D AY ˾ WEDNESDAY, NOVEMBER 16, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

N O V E M B E R

S & P INDEX

8 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Budget Deficit: FG Borrowed N2.94trn fro m D e b t M arke t in 1 1 Mo nths

Kayode Tokede The federal government between January and November of 2022 borrowed a sum of N2.94trillion through FGN Bond Market to finance the 2022 budget deficit, bond auction results released by the Debt Management Office (DMO) has revealed. This is represents an increase of 8.13 per cent over the N2.72trillion borrowed to finance budget deficit between January and November of 2021. The FGN bonds are debt securities of the Federal

Government of Nigeria (FGN) issued by the DMO and it has the obligation to pay the bondholder the principal and agreed interest as and when due. The bond market offers less volatility that assures Pension Funds Administrators (PFAs), and investors of their capital returns albeit with low yield on investment as the marginal rates on -Year Bond FGN Bonds that close the November 2022 auction was at 16.2 per cent, below 21.09 per cent inflation rate as of October 2022. The federal government had highlighted that the 2022 budget

has debt deficit of N6.26trillion, forcing the government to issue new borrowings of N5.012 trillion (of which domestic – N2.506 trillion and foreign – N2.506 trillion); drawdowns on Project-tied Multilateral/Bilateral loans – N1.156 trillion; and Privatisation Proceeds of N90.73 billion. President Muhammadu Buhari last month said fiscal operations of the federal government resulted in an estimated budget deficit of N4.63 trillion. According to him, “This represents 63 per cent of the estimated deficit for the full

year. This is largely attributable to revenue shortfalls and higher debt service obligations resulting from rising debt levels and interest rates. “The deficit was mainly financed through domestic borrowing amounting to N4.12 trillion. Hence, total public debt stock increased from N39.6 trillion Naira as at the end of December 2021 to N42.8 trillion Naira as at the end of June, 2022.” The Year-till-Date (YtD), FGN bond results revealed that DMO offered to raise N2.18trillion in 11 months of 2022 and eventually

witnessed a oversubscription of N4.12trillion, out of which N2.94trillion was the total allotted amount. The latest FGN bond auction result for the month of November 2022 revealed that the DMO offered N225billion for subscription to investors but raised N344.01billion through re-openings of the 14.55 per cent FGN APR 2029, 12.50 per cent FGN APR 2032 and 16.25 per cent 2037 FGN bonds. The DMO finally allotted N269.15billion to investors in November. The agency had offered N225 billion for subscription to investors

in October but raised N107.88 billion through re-openings of the 14.55 per cent FGN APR 2029, 12.50 per cent FGN APR 2032 and 16.25 per cent 2037 FGN bonds. Reacting to the oversubscription in November, the Head Financial Institutions’ Ratings Agusto & Co, Mr. Ayokunle Olubunmi said that FGN bonds interest rate is higher compared to investing in the Treasury bills market. He explained that, “the FGN bonds have no default risk, meaning that it is certain your interest and Continued on page 30

CBN, World Bank Move to Drive Access to Credit for MSMEs in Nigeria Seriki Adinoyi in Jos National Collateral Registry (NRC), a financial infrastructure set up by the Central Bank of Nigeria (CBN) and International Finance Corporation (IFC), a World Bank group have expressed readiness to address the challenges around access to finance by Micro, Small and Medium Enterprises (MSMEs) in Nigeria. Expressing their readiness

during a town hall meeting facilitated by Deutsche Zusammenarbeit (GIZ) for MSMEs in the ICT, E-commerce & Poultry value and Financial Institutions in Jos, Plateau State, the Registrar of NRC, Mr. Musa Bulus said his organization is in fulfillment of the CBN’s resolve to further deepen credit delivery to MSMEs and also reduce the challenges of collateral as a requirement for loans to MSMEs.

Represented by the Principal Manger at NRC, Mr. Christian Nwosu, the Registrar said that NRC is an online database that allows lenders register their interest and determine their priority interests over movable property taken as collateral for loans. According to the Registrar, the NCR is a notice-based registry for collaterals and an online centralised, publicly available data that allows

financial service providers to register security interests in movable assets after accepting such collateral for loan. From inception of the registry till date, over 500,000 MSMEs have accessed credit from various banks in total of sixteen trillion naira using their farm equipment, inventory, jewelry, farm products etc. He said that the town hall meeting dubbed ‘Value Chain Physical meetings’ aimed at

sensitizing MSMEs operators and representatives of lending banks, explaining that the development facilitates lending to individuals, farmers, macro entrepreneurs, and small and medium-scale businesses. He added that the information registered with NCR will enable other financial institutions verify whether movable collateral given by MSMEs owners in seeking a loan has been used in other

Banks as collateral by the loan takers. Urging participants to explore the opportunities provided by the NRC to grow their business value chain, Bulus said that previous bogus assets required as collateral to access loans were no longer needed, and that the law allows loan takers to use the items given as collateral for Continued on page 30

M A R K E T D ATA A S AT T U E S D AY, N O V E M B E R 1 5 , 2 0 2 2 BILLS

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

Yield

98.83

15.15

98.45

14.30

94.98

14.50

105.26

14.59

97.66

14.62

Change Updated Time (%) 0.00 November 10, 2022 -0.21 November 10, 2022 -0.31 November 10, 2022 0.00 November 10, 2022 0.22 November 10, 2022

MATURITY NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23 NTB 11May-23

Discount

Yield

11.58

11.86

8.32

8.49

8.96

9.23

8.05

8.36

8.05

8.39

Change Updated Time (%) -0.01 November 10, 2022 -0.01 November 10, 2022 0.00 November 10, 2022 0.00 November 10, 2022 -2.57 November 10, 2022

OTC F X F U T U R E S

CPS MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23

Change Updated Time (%) -1.07 November 14.06 14.78 10, 2022 18.49 19.92 -1.46 November 10, 2022

Discount Yield

. .

CONTRACT TENOR Contract (MONTH) NGUS NOV 30 1 2022 NGUS DEC 28 2 2022 NGUS JAN 25 3 2023 NGUS FEB 22 4 2023 NGUS MAR 29 5 2023

Current Rate Updated Time ($/₦) November 454.73 10, 2022 November 456.93 10, 2022 November 459.12 10, 2022 November 461.32 10, 2022 November 463.51 10, 2022

T H I S D AY ˾ WEDNESDAY, NOVEMBER 16, 2022

BUSINESSWORLD

INSURANCE

A New Trajectory for NIA With a new helmsman, Olusegun Omosehin, Nigeria Insurers Association hopes to carve a niche and new trajectory in insurance business in Nigeria, writes Ebere Nwoji

or Olusegun Omosehin, the new Chairman, Nigeria Insurers Association (NIA), his migration into the insurance world after his university education could be likened to the case of the famous African literary icon and author of the widely read book, “Things fall Apart,” the late Professor Chinua Achebe. Achebe’s original plan was to make a career in medical profession but was suddenly taken by destiny to the world of literary writing, which eventually brought him to lime light, as a great author. Such was the case of Omosehin, who after his university education as a political scientist desired to pursue a career in foreign affairs services but the unseen hand of God incidentally crossed him over to insurance world where he has today gained so much popularity and made such indelible marks to the extent of attaining the height of Chairman of Nigeria Insurers Association (NIA), the umbrella body of both international and indigenous insurance underwriting firms in Nigeria. Omosehin was in the month of August this year among all the helmsmen of all the insurance and reinsurance firms in Nigeria elected the Chairman of NIA. Altogether there are 65 insurance and reinsurance firms in Nigeria comprising of 13 life insurance firms,14 composite firms,27 General Insurance firms, four Takaful insurance firms and six Micro Insurance firms. By his current position as NIA Chairman, Omosehin is to henceforth stir the ship of these institutions and is in control of decisions that affect their business together with other council members of the association. By this position Omosehin’s name and photograph has been included in the archives of prominent insurers such as the father of insurance, Professor Joe Irukwu, Oglala Osoka, Ven. Ladino Ajayi, Bala Banjo, Oye Hassan Odukhale, Tope Smart and other notable figures in Nigeria Insurance industry who have attained this exalted position in the past. Also by this new position, Omosehin after the Commissioner for Insurance and Chief Executive officer of the insurance regulatory body, the National Insurance Commission (NAICOM) Mr. Sunday Olorundare Thomas, is the next in line when it comes to custodian of information and authority in insurance matters in Nigeria and beyond. From the tune of his speech at his investors ceremony as the 25th Chairman of NIA, Omosehin seems to have quite understood the worth of his position when he said: ”first let me appreciate my colleagues in the governing council and all CEOs of member companies for the confidence reposed in me as expressed in my election as the 25th chairman of our noble association .It is a rare privilege and a great honor to lead the association particularly this time in our history as a nation .I do not take it for granted.” Omosehin’s journey to the insurance world started way back in June 1993 when he took up job in Crusader Insurance from where he developed passion for insurance and enrolled for insurance professional examination and qualified in just two sittings to become an associate of the chartered Insurance institute of Nigeria in 1996. He enrolled for a conversion programme in Economics in 1997, the post Graduate Diploma in

Omosehin Manpower economics and planning where he bagged an MSC in Economics in 1999 from the University of Lagos. In addition to various courses he attended locally and internationally, including the advanced management programmed at the Lagos Business School and Oxford Advanced Leadership and management programme at the university of Oxford United Kingdom .With these qualifications Omosehin successfully built a robust career in insurance. Today he stands out as one of the few multidisciplinary professionals in the insurance industry. Aside his work experience in Crusader Insurance, he worked for nine years in different capacities at Custodian and Allied Insurance and attended the Divisional Head Operations position before he left in 2003 to join Admiral Insurance Company limited as the Managing Director. Within one year of his leadership of the company, the company, which had 22 years of recorded was automatically returned to profitability track. He later joined AIICO and was made the Managing Director AIICO General Insurance. He left AIICO to become the Managing Director of Mutual Benefit Insurance in 2020. A member of governing council of the Chartered Insurance Institute of Nigeria Omosehin is currently the Managing Director of Old Mutual Nigeria. Taking over the leadership baton of NIA from the erstwhile chairman Mr. Ganiyu Musa, Omosehin commanded the

confidence of the entire insurance industry to emerge the NIA chairman at this critical time when, according to him the country is caught between the impact of myriads of global issues prominent among which are supply chain disruptions, post COVID-19 adjustments, talent and workplace evolution, climate change and locally social-political and economic down turn, escalating security challenges, inflationary pressure, volatile foreign exchange rate and impact of catastrophic events such as flood. In his view, the outcome of these risks are heavy on individual lives, businesses and future of the industry. His emergence as the 25th Chairman of the insurance underwriter at the wave of all these business threatening developments, points to the level of confidence reposed on him by his fellow managers in the risk bearing industry. Indeed, positioning Omosehin as the captain of the risk bearing insurance sector speaks to the fact that he is conversant with the terrain even in dicey situation the country is and can navigate their ship to a safe ground. Already in his inaugural speech, he has shown signs of competence by seeing the current situation as opportunity for more business instead of focusing only on the risk factors. He said, “However, in the mist of these are new opportunities both globally and locally open to us in infrastructure, healthcare, technology, agriculture, mining, power, education and human capital management all with the potential to disrupt the trajectory

of our lives and business forever. He urged his fellow insurers to take advantage of the opportunities, which according to him has never been available at this scale and magnitude in decades to redefine and reposition themselves as partners for the prosperity of the country. Omosehin, also urged the insurers to be deliberate in technological investment and innovations in order to leverage on the advantages to improve on accessibility, affordability, adequacy, awareness and availability of insurance products. He said the insurers had the tools to do this noting that in the new business world thrown up by the COVID-19 pandemic and its like challenges, insurers’ roles were clearly defined but are yet to be occupied. “By embracing the new and emerging world and the associated challenges, steer the ship of growth and innovation quickly to provide the buffer required for the economy to thrive not impending by clinging on to the past”, he charged. He challenged the insurers to remember that the change they sought for should begin with them as an industry as he urged them to realise that the current challenges would require thinking different and extraneous to what created the current challenges. “Our ability to self -regulate and be bold and courageous in enforcing our market conducts is vital, we must take our rightful place amongst the pillars of economic growth and development in Nigeria”; Omosehin said. He urged the insurers to take advantage of technology to design affordable and adequate insurance products and services and make such available to the right customers. He advised the insurers to embrace openness and willingness to collaborate with intra and extra-industry stakeholders including fintechs, insuretechs among others to drive customer centric models for penetrating the market. He also urged them to upgrade the digital capabilities of the NIA secretariat to meet and respond to the growing demands of the public. “All these should culminate in product and process innovation that meets our customer’ multidimensional needs. We must bear in mind that the world has evolved and so has our country the ways and means of our economy, business environment, social fabric and communication. While this provides massive opportunities for us it also means that risk profiles have evolved”, he noted. Speaking on the economy, the new NIA Chairman, noted that inflation was a global situation currently plaguing both developed and developing economies noting that even the US had seen two consecutive quarters of economic contraction and that the volatility facing most countries due to the strengthening of US dollar and other factors remain troubling. He however said in the mist of these, there were opportunities both globally and locally in infrastructure, healthcare, technology and human capital management all with the potential to disrupt trajectory of lives and businesses. On the impact his administration would make in the industry, Omosehin said NIA under his chairmanship would ensure enforcement of compulsory insurances, implement progressive market development initiatives and agreement, explore new areas of business collaboration to expand the market as well as collaborate with the regulatory community particularly NIA as the primary regulator.

CBN, WORLD BANK MOVE TO DRIVE ACCESS TO CREDIT FOR MSMES IN NIGERIA business since the items will aid repayment of the loan. Local Economic and Value

Chain Development advisor, Stella Yusuf DimLong noted that GIZ provides technical

cooperation as well as working with partners in private, public and civil organizations for

sustainable economic growth and development to improve outcomes, job creations and

income. She also urged participants to explore the interactive

session to ask questions on improving their business goals.

particularly at the short and mid segments of the naira curve. “We expect the outcome of the FGN auction to shape the sentiments in the Treasury bond secondary market next week. At the auction, the DMO will offer instruments worth N225.00 billion through re-openings of the 14.55%

FGN APR 2029, 12.50% FGN APR 2032, and 16.2499% FGN APR 2037 bonds. “Notwithstanding, in the medium term, we maintain our view of an uptick in bond yields, as both the FGN’s borrowing plan for 2022FY and the expected fiscal deficit point towards an elevated supply.”

BUDGET DEFICIT: FG BORROWED N2.94TRN FROM DEBT MARKET IN 11 MONTHS principal will be paid as and when due. The interest income earned from the securities are tax exempt compared to the treasury bills that expired in January 2022.” Analyst at PAC Holdings, Mr. Wole Adeyeye also said, “Most investors do away with the stock market and invest in bond market

because they have the assurance that the market is the safest of all investments in domestic debt market since it is backed by the Federal Government, and as such it is classified as a risk-free debt instrument.” He added that, “the deficit in the budget has given room for

the government to borrow. The government needs money to finance key projects this year. “The money spent on debt servicing is eating deep into the government’s revenue, which makes borrowing an unsustainable form of financing.” Analysts at Cordros Research

during the week maintained that the FGN bonds secondary market turned bullish this week, as the average yield dipped by six basis points w/w to 14.5per cent. According to Cordros Research, “We attribute this performance to investors cherry-picking attractive bonds in higher-yield environments

WEDNESDAY, NOVEMBER 16, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Unity Bank Partners Firm to Empower Youths with Digital Skills Nume Ekeghe

L-R: Special Adviser to the Governor of Lagos State on Works & Infrastructure, Mrs Aramide Adeyoye; ACEN President, Ajibade Oke and ACEN Immediate Past President, George C. Okoroma at the ACEN 2022 Annual Conference in Lagos… recently

Report: Floods to Trigger Continuous Rise in Inflation Through 2022 Nume Ekeghe Following the massive flooding that raved several states in the country, analysts have predicted that the impact will further worsen the inflationary pressure in the country between now and the rest of the year. Financial Derivatives stated this in its economic bulletin released recently where it projected that inflation would spike to 21.32 per cent for the month of October.

The report stated that the inflation rate is likely to remain elevated throughout the year as the impact of floods overshadows the benefit of harvests. According to the report, “Based on our econometric model and market survey in Lagos and its environs, Nigeria’s headline inflation is projected to increase again by 0.55 per cent to 21.32 per cent in October. Food inflation will rise by 0.62 per cent to 23.95 per cent, while core inflation

will increase by 0.18 per cent to 20.5 per cent. If our estimates are accurate, it will be the ninth consecutive monthly increase and the highest rate of inflation in 17 years.” It added that in contrast to the general expectation that harvest would drive down market prices, the food basket experienced a faster rate of price acceleration and that it can be attributed to the significant shortage in the supply of agricultural products as a result

of the floods that ravaged major food-producing states. “Furthermore, the interaction of higher logistic costs and the exchange rate pass-through effect is keeping the price of the non-food basket above reach. More so, we expect month-onmonth inflation to increase by 0.8 per cent to 2.16 per cent as the effect of floods outweighs the benefit of the typical harvest season in the month of October.

Unity Bank Plc has partnered with Kitian Training Hub, an Ibadan-based career advice and skills acquisition training centre to empower no fewer than 300 youths from Oyo State with different knowledge and skills designed to better equip beneficiaries to make career advancement. The Bank said it is providing the support for sponsoring the youth training programme at the Kitian Trainning Hub set up to facilitate technical and vocational courses and thus drive digital skills acquisition among Nigerian youths and prepare them for job opportunities in the bourgeoning technology sector. The bank in a statement noted that the fully-funded, “Skill Up” training programme focused on both digital and non-digital skills training, including graphics design, web design, UI/UX design, fashion design, domestic electrical installations, MS Word suite and data analytics. Head of Retail & SME Banking, Unity Bank, Dr. Opeyemi, stated: “The Bank recognises that technology and innovation form the bedrock of the workforce that can take on the future, which is why we keep collaborating with

relevant institutions that are moving in this direction. “If you look at Unity Bank’s strategic initiatives and collaborations over the past few years, from corpreneurship, which is for fresh graduates; to a partnership with the blue economy, and then to the most recent partnership with Alternate School Africa for female software engineers, you would realise the pattern of the Bank’s intervention and commitment to the society, especially to the youths: that buttresses what the Bank stands for.” On his part, the Chief Executive Officer of Kitian Training Hub, Mrs. Taiwo Oshunniyi, commended the Bank for the partnership, stating that the partnership has helped the Hub to meet its objective of closing the widening skill gap within the economy. Oshunniyi said, “We appreciate all our partners, especially Unity Bank Plc. The training should fill some unemployment gaps. Some of our students picked courses in which they already have an interest, and with the knowledge, they will gain here, they will enhance their skills and even provide employment for other people.”

A DV E RTOR IA L

X-Pression RUWA BRAID Hits The Market! Distributors, Consumers, Stylists Hail The Most Innovative Water Repellent Braid in Nigeria Solpia Nigeria Ltd; makers of the X-Pression brand of hair extention, has launched a new hair braid, “X-Pression RUWA BRAID” into the market. The unveiling of the braid took place recently at the company’s Head Office at Iju Road, Agege, Lagos. According to the company’s Marketing Manager, Mrs. Grace Ejikeme, ‘the RUWA BRAID has fast dry characteristics and is a solution to every woman’s challenge in wearing braids extention, top of which is the long-drying-time of their braided hair. “It is a well-known fact that X-Pression has always been at the forefront when it comes to creating high quality, trendsetting, innovative and revolutionary hair extensions to satisfy the increasing yearnings of hair extension users in Nigeria and giving them the best value for their money.

L-R: The Marketing Manager, Mrs. Grace Ejikeme, lifting up the new braid; MD, Universal Haircare Ltd, Mrs. Oseni Omolewa; Sales Manager, Solpia Nig. Ltd, Mr. Murphy Alaka; and CEO, Funky Signature, Mrs. Oluwafunke Giwa-Ajose, during the unveiling of the new X-Pression Ruwa Braid in Lagos.

“This has been one of the core values of Solpia Nigeria Limited, makers of the X-Pression brand of hair extension since its inception about 25 years ago, and the major reason why X-Pression has become a household name, not just in Nigeria, but across the globe. “With the new X-Pression Ruwa Braid, all it takes is a maximum of 45 minutes for your braids to dry completely after a hot-water-set hairdo. What this means is that you can go directly from the hair salon to an event or an appointment without bothering about the discomfort of the resultant wet dress from your wet braids. “With this new braid, you can always take a shower, or wash your braids as often as you like; you can go to swim with your braids-on, without the fear of a damaged, itchy, or smelly braid, and rain will no longer be a threat to your braids.

Features of the New X-Pression Ruwa Braid are:

Beneﬁts of X-Pression Ruwa Braid to Every Woman: Freedom to wash your braids with shampoo while bathing.

Water Repellent: It is resistant to water; it does not absorb water just like other braids.

No more wet clothes after hairdo.

Fast Dry: It dries very fast compared to other braids that wets your dress after hairdo. With X-Pression Ruwa braid, your hairs dry within 30 minutes after hairdo.

No more fear of rain spoiling your braid.

“We therefore encourage all women to try the new X-Pression Ruwa braid and have a change in lifestyle as this braid gives you all comfort you need to enjoy your braided hair. It is also a cash - value – guaranteed product because washing your braid gives you the chance to wear your braid for a longer period”.

No more itchy or smelling hair as you can wash your hair anytime. Freedom to swim with your braids on and uncovered with nylon shower cap.

Light Weight: X-Pression Ruwa Braid is lighter in weight compared to other braid products.

No more fear of sweating because you can easily shampoo your braids.

Hot Water Set: X-Pression Ruwa braid accepts 100% hot water set for styling, this is possible because the hot water set for Ruwa Braid is done by the steam from the water.

“RUWA in Hausa language means water, and in Swahili language, RUWA means beauty. This means that with X-Pression RUWA, your beauty is guaranteed, no matter the environment, be it in the rain, the pool, or in an event.

For contact: Grace Ejikeme Hashtag: #Xperience RUWAbraid. Account to Mention: @xp4you.

WEDNESDAY, NOVEMBER 16, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Yakusak: Infrastructural Deficiency, High Cost of Funds Have Impaired Export Competitiveness In this exclusive interview with James Emejo, the Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, discusses the challenges of the country’s non-oil export sector, and its contributions to the diversification agenda of the current administration. Among other things, he said the government’s strategy was to create an avenue to ease exports as well as make Made-in-Nigeria products globally competitive. What is your impression of the non-oil export sector vis-a-vis the government’s diversiﬁcation agenda? ery good question. I must tell you that the key objective for establishing the NEPC in 1976 was borne out of the need to have an alternative source of foreign exchange earnings for the country through the export of Made-in-Nigeria products. Of course, over the years, successive governments have made deliberate trade policies and incentives that will significantly impact positively on the non-oil sector. For example, we have the Export Expansion Grant (EEG) scheme among other incentives created to boost the volume and value of our exports. So, coming back to your question, the government have done very well especially if we juxtapose government support with current economic realities. For example, only last year, the Federal Government under the National Economic Sustainability Programme (NESP) released a N50 billion-grant to drive the diversification of the economy through non-oil exports. The grant as you know was also used to mitigate the negative effect of the COVID-19 pandemic on businesses, especially MSMEs. Only recently, the Central Bank of Nigeria (CBN) launched the ‘’RT 200 ‘’ Foreign exchange programme which is an intervention programme targeted at generating $200 billion in Foreign Exchange (FX) earnings from Non-Oil Proceeds over the next three to five years. To complement the efforts of the CBN in actualizing this objective, the NEPC has set up the Domestic Export Warehouse (DEW) and the Export Trade Houses (ETH) which are structures that will help reduce the cost of exporting our goods by strategically creating an avenue to ease exports and thereby make Made-in-Nigeria products competitive in the global market.

hope to achieve by the time you leave ofﬁce? My vision is to do all within my capacity to ensure that we no longer depend on oil as the major source of running our economy. The reason is simple. The non-oil sector has the capacity to guarantee job creation and wealth creation particularly for our teeming youths as well as contribute significantly to the nation’s Gross Domestic Product (GDP). Therefore, with the numerous projects and programmes we have conceived using the “Export4Survival campaign as a strategic engagement tool with key stakeholders in the sector, I am optimistic that the country will in the next 3 years record significant progress. Only recently, the NEPC Half Year Report shows 62.37 per cent increase in the volume and value of total exported goods from Nigeria.

What exactly is the mandate of NEPC and how much of it has been realised? The Council’s mandate is clear. Our vision is to make the world a marketplace for Nigerian non-oil goods and services while our mission is to spearhead the diversification of the Nigerian economy by expanding and increasing non-oil export for sustainable and inclusive economic growth. Simply put, section 4 of the NEPC enabling Act empowered the Council with the special responsibility of promoting the development and diversification of Nigeria’s export trade and assisting in promoting the development of export-oriented industries in Nigeria, among others. Since the Council was created 46 years ago, I must say that the NEPC has made significant progress in terms of building the capacity of exporters, creating awareness of the potential of the sector with a view to stimulating the interest of Nigerians to participate in export business and more importantly in driving activities in the sector through strategic export intervention programmes and projects. Some of these export intervention programmes and projects have significantly helped in increasing the basket of exportable products from Nigeria. So, in a nutshell, I can tell you that the Council is living up to its mandate. What do you think are the major challenges of the non-oil export segment and how have you responded to these? The challenges plaguing the sector are numerous. These challenges have over the years made our products less competitive in the international market despite our comparative advantage. Some of these challenges include but are not limited to infrastructural deficiency, such as incessant power outages, poor road networks to serve as a channel for distribution of goods and services, lack of access to affordable finance as well as logistics problems and poor quality and packaging of Made-in-Nigeria goods. However, the NEPC in collaboration with key stakeholders and relevant Ministries, Departments and Agencies (MDAs) of

On assumption of ofﬁce, you launched the Export4Survival scheme. What is the key objection to the programme? The Export4Survival” campaign is a strategic initiative to increase awareness of opportunities in the sector and the benefit of exporting Nigerian goods and services to the overall growth of the Country’s Gross Domestic Product |(GDP). Export4Survival is indeed a call for all Nigerians to realize the urgency of engaging in non-oil export trade as a viable means of economic growth, poverty alleviation, industrial development and boosting our foreign exchange earnings. Yakusak

government is working assiduously to address them. For example, through the ease of doing business initiative of the Presidential Enabling Business Environment Council (PEBEC) among other export intervention projects such as Export Trade Houses and the Domestic Export Warehouse, I am optimistic that these challenges will be reduced to the barest minimum. According to data, the services sector is yet to record any values in terms of non-oil exports. What is the challenge and how is the council addressing this? The impact of Trade in Services export globally cannot be over-emphasized. In 2021, global services exports were valued at $6 trillion, representing 5.9 per cent of world GDP and 22.6 per cent of total world trade in both goods and services. Indeed, the trade in services sector is critical to the diversification of the economy. It is for this reason that the NEPC and the Commonwealth Secretariat London partnered to produce reliable data on the export of professional services in Nigeria. Suffice it to say that there had been previous attempts to create awareness of the Tradein-Service sector of the economy, including the creation of the National Strategy for Export of Professional Services in 2010 through the Commonwealth in 2016 which assisted Nigeria to develop a road map for the service sector. However, our current focus of

The major objective of the ETHs is targeted at increasing Nigeria’s international market share and growth, enhancing the visibility of Nigerian products as well as increasing foreign exchange inflow and creating employment for the teaming youths.

collaboration with the Commonwealth Secretariat is on data/statistics collection and management. This is critical to our export effort as it would fill the gaps in collecting or capturing data from relevant institutions in order to generate, analyse and use statistical information on Trade-in-Services in line with the global trend. For example, the creative industry and the recent massive investments in the tech-enabled start-up ecosystem to support our youths, all have the capacity to generate wealth and job opportunities for sustainable economic growth along the entire value chain. I believe with the right investment in the services sub-sector by relevant MDAs working with the private sector Nigeria will be able to maximize the opportunities globally. No doubt, a lot of funds have gone into the Export Expansion Grant scheme, how effective is the scheme to date and what are the challenges and way forward? The EEG, which is a post-shipment incentive is a way of supporting active exporters in increasing the volume, value and quality of their exports. It is essentially designed to increase the basket of exportable products from Nigeria, other than crude oil, and improve the global competitiveness of Nigerian products as well. Over the years, the scheme has been bedevilled with challenges leading to incessant suspension among others issues like nonpayment of backlog to beneficiaries. However, I am delighted to inform you that the in the first half of the year the federal government approved the sum of N375 billion to clear the backlogs of claims for beneficiaries of the EEG scheme. As I speak with you, over 285 exporters are to benefit from the grant while the money will clear the backlogs from 2016 till date. Recently, we had an interface with Distinguished and Honourable members of the National Assembly where this grant/scheme was defended. What is your vision for NEPC and what do you

What is the council doing to boost the non-oil export sector? Through numerous capacity-building programmes in the area of Good Agricultural Practices (GAP) packaging and provision of hybrid seedlings to farmers, just to mention a few, the Council has assisted exporters in addressing the issue of poor quality of Nigerian products. The NEPC is also a member of a special Technical Committee set up by the federal government to address the perennial rejections of Nigerian non-oil export products in Europe, the Americas and other parts of the world. That committee would work hard to make recommendations on ending the rejection of Nigeria’s products. The “Go Global, Go Certification” project, one of the programmes of the Council also complements this initiative with a view to ending the rejection of Nigerian products. The aim is to secure appropriate international certifications for products of Nigerian origin. To make Nigerian products competitive in the global market, we also established three Export Trade Houses in Cairo, Egypt, Lome in Togo and Nairobi in Kenya respectively. The major objective of the ETHs is targeted at increasing Nigeria’s international market share and growth, enhancing the visibility of Nigerian products as well as increasing foreign exchange inflow and creating employment for the teaming youths. Plans are underway to establish another ETH in South Africa and Dubai, United Arab Emirates (UAE) among others. This project is being executed under a Public-Private-Partnership (PPP) scheme.

T H I S D AY ˾ WEDNESDAY, NOVEMBER 16, 2022

BUSINESSWORLD

NEWS

Fashola Urges Lagos Residents to Stop Setting Up Stalls Under Bridges Emmanuel Addeh in Abuja The Minister of Works and Housing, Mr. Babatunde Fashola, (SAN), has cautioned Lagos residents against using under bridges in the state as markets, noting that the facilities are built for ease of vehicular movement and movement of goods and services. Speaking during the inspection tour of the recently burnt Eko bridge, Fashola noted that tough laws were needed as regards the protection of bridges and that such laws must have federal government’s backing and support. “If you don’t give tough laws, things will not be done. You have our support. Under bridges are not places for cooking or residing and it’s not only endangering their lives but also the lives of other

people. Illegal way of living must be put to an end. “We are appealing to the Lagos state government to ensure that all trading activities under the bridges in the state must as a matter of urgency be brought to a stop. We seek the cooperation of the ministry of transportation, environment, local government law enforcement agencies to help us preserve our bridges,” he said The Deputy Governor of Lagos state, Dr Olufemi Hamzat, in his comments, warned the citizens to desist from doing business under the bridge and live the right way for the interest of others. “The state government will be available to monitor the process and provide assistance where necessary to ensure that

the contractor has a smooth operation. In the aspect of people trading under the bridge, we will communicate with appropriate departments to ensure that the issue is addressed,” he noted. The Director Highways (Bridges and Design) Oluropo Oyetade explained that as a result of the fire incident on the bridge, the section of the bridge had been closed and the contractor had been directed to carry out technical evaluation of the bridge to ascertain the extent of the damage. Speaking on the extent of the damages, Managing Director, Messrs Buildwell Plants and Equipment Industries Limited., Enile Aboohabib said that most of the bearings on the bridge needed to be changed.

Exxon Mobil Makes First Oil Discovery in Angola After 20 Years Emmanuel Addeh in Abuja Exxon Mobil has announced that it has, together with its partners, discovered hydrocarbons in Block 15 off Angola in the Bavuca South, marking the first commercial oil find by the company in the country since 2003. The last big fossil fuel discovery on the continent dates back to 2010, oilprice.com reported. Over the past five years, the United States’ largest independent oil and gas company, has mostly focused its exploratory activities in South America.

In contrast, Exxon’s exploits in Africa have been few and far between, with its last discovery on the continent coming nearly two decades ago. This was the block’s 18th discovery, but the first since 2003. According to Exxon, the Valaris DS-9 drillship drilled the Bavuca South-1 well 365 km northwest from the coast at Luanda in 1,100 m (3,608 ft) of water, encountering 30m (98 ft) of good-quality, hydrocarbon-bearing sandstone. Exxon owns 36 per cent interest in the block, with BP Exploration Angola (24 per cent), Eni Angola

Exploration (18 per cent), Equinor Angola Block 15 (12 per cent) and Sonangol P&P (10 per cent) being its partners. The last big fossil fuel discovery on the continent dates back to 2010 after Texas-based Anadarko Corp. (now a subsidiary of Occidental Petroleum Corp.) and Italian energy giant Eni, discovered approximately 180 trillion cubic feet of natural gas reserves, equivalent to 29 billion barrels of oil, in Mozambique’s supergiant offshore basin of Rovuma, immediately catapulting the South African nation to a potential global LNG superpower.

ACEN Holds AGM,Appraises Role in Nigeria’s Economic Growth As part of its key role to benefit society, through the application of safer, cleaner, and more efficient infrastructure, the Association for Consulting Engineering in Nigeria (ACEN) has reiterated the commitment of Nigeria’s consulting engineering professionals to the nation’s infrastructural development, especially in view of current economic challenges. Speaking at its 44th annual conference, ACEN’s President, Ajibade Oke stated that the sustainability of the nation’s infrastructure development will ensure the stable growth of her economy and even with the global impact of COVID-19 on businesses, including the consulting engineering practice, the critical role of consulting engineers as prime movers in the infrastructural development of Nigeria cannot be overemphasised. He urged collaboration among stakeholders in the built industry and with relevant government agencies to take full advantage of Presidential Executive Order 5. In his keynote address themed, “The Role of Consulting Engineers in Infrastructural Development in a Recessed Economy,” Minister of Works and Housing, Mr. Babatunde Fashola, stated that despite going through two recessions in the last six years, Nigeria’s economy has survived. While acknowledging that the first recession was predicted in 2014 by the Finance Minister at the time, Fashola noted that President Muhammadu Buhari’s administration’s commitment

to massive infrastructure, as evidenced by its nearly increased capital budget, is one of the strategies that mitigated the effect, and quickly grew the economy. Also, the President of the Council for the Regulation of Engineering in Nigeria (COREN), Ali Rabiu, noted that engineers have a critical role to play in the infrastructure development and economy of

the nation. Similarly, the Chairman of the Council of Registered Builders of Nigeria, (CORBON), Samson Opaluwah, represented by Bldr Adenike Saheed, acknowledged the conference’s carefully-chosen theme which he referred to as ‘most appropriate, given the current state of the Nigerian economy with a high level of inflation and stagnation.

IICC Chairman Advises Nigerians to Embrace Insurance Services Ebere Nwoji The Insurance Industry Consultative Council (IICC) has advised Nigerians to embrace insurance services, adding that improved life styles and wealth accumulation were some of the enormous benefits in insurance. IICC chairman, Edwin Igbiti, who stated this at the 2022 Training on Compulsory Insurance, held in Benin City, Edo State, explained that insurance offers income, life and property protection to the insured and their needs. He said insurance also enhances income accumulation that could be used at retirement to help preserve the desired lifestyle of the insured. He maintained that insurance was a global entity and its values and benefits numerous to the existence of mankind. Igbiti noted that insurance stimulates business activities

to operate in a cost-effective manner, by managing risks associated with business operations. According to him, the insurance sector safeguards the assets of its policyholders by transferring risks from an individual or business to an insurance company. He said a major risk that was bedeviling the country among others presently was the flooding menace, adding that the current flooding had caused major havocs and death of lives. “The IICC seizes this opportunity to sympathies with all the victims across the country and believes that insurance companies will play their expected roles in ameliorating the effect of the losses and damages done promptly, as I know they are currently warming up to process huge claims from recent floods that ravaged some states.

T H I S D AY ˾ WEDNESDAY NOVEMBER 16, 2022

EDUCATION Ojediran: Bells University Now Attractive to Researchers Prof Jeremiah Ojediran is the vice-chancellor of the Bells University of Technology, Ota, Ogun. The professor of Agricultural Engineering explained to Funmi Ogundare how the management is making the institution attractive to researchers with more funding and why engineering graduates must be equipped with management skills for the benefit of mankind and to manage their businesses effectively, among other issues

ince you came on board, how has the university impacted students to stand out in the labour market? When I took over in 2016, I noticed that all they were doing was a BSc degree. The global thing is about skills. You can have your degree and not have skills. I interviewed two students, one had a BSc and three IT certifications, and the other had none, so I had to pick the one with certifications. As a result, we had to introduce ICT and brought in New Horizon Nigeria, and ensured that all our students do IT programmes from 100 level to 500 level and pass it. So the students became interested in that. That was what helped us during the COVID era. We were teaching the students online at the time and also did exams. We are trying to develop an industrial hub such that when the students go out, they are not scared about what others do. We also invite people to speak to them about the world of work and how skills matter. Also, the library that students don’t usually go to has been made virtual so they can access it on their system. For the engineering students, we started with the ‘students work experience programme’, where they learnt how to make interlocking stones used to develop the institution. Already three of the students have established an interlocking stone industry for themselves. We also try to teach them house wiring so that when they go out, they will know what to do. Entrepreneurship was another thing we did and it has helped to open up the minds of the students towards developing business plans. The management service department is teaching students how to grow a business plan. That is a skill that most people lack. On the ICT, we get feedback from the students who have gone out and that makes us feel that we are making impacts. How many of your programmes are accredited, and how have you been able to revitalise and re-engineer these academic programmes in your different colleges? All our programmes are fully accredited, but the accreditation also matures after five years. The National Universities Commission (NUC) will be coming to re-accredit some programmes in this current session, and we are also introducing new programmes for resource verification. How vibrant is your research, and what efforts has the institution made to aid research and add value to the students? We are about 60 per cent good. In the Natural and Applied Sciences, a lot of research is going on and improving tremendously. Of recent, the Faculty of Engineering has been carrying out research. We have a professor who is researchoriented and has written about 300 papers. He is vibrant, and quite a number of staff are moving up. The automobile and Metallurgy Department has also improved. We got a CMC machine for application recently, and they are doing well with it. Civil engineering also picked up, and we bought a Universal Testing Machine (UTM)

universities, there are quotas, but we don’t have that here. Ab initio, we took 160 as the cut-off mark, which is just the minimum, and you are not bound to take that minimum. This year, we have not taken 180, we have been taking 200, 220 and 250 depending on the programmes, and there are programmes that we needed to step up their cut-off marks. For programmes like Architecture, Mechatronics, Biomedical, Electrical and Engineering, their cut-off marks are 230 and 240. You might get someone who scored 200 in UTME and is good academically. Two things happen: UTME score is not the ultimate (and) your WAEC result is the ultimate. There was a student we brought in here with 160. He had a very good WAEC result and ended up with a first class. The best graduating student during our convocation ceremony held recently said she was given a second chance meaning that she didn’t do well before getting admission here, and by the time she got here, she ended up with a first class. I taught her Engineering Management during her final year.

Prof. Ojediran to conduct a lot of tests. So in the last three years, research has shot up now, unlike when I first came in. Our research is adding value to the students, and as a matter of fact, there is a rule that if you do your master’s programme here, you must publish at least one paper in Scopus, a high-impact journal. For PhD students, you must publish at least two or three before you graduate. If Scopus can accept three of your papers in PhD work, it means it is relevant. So we are setting standards. Has this boosted the university’s ranking? The university has become more attractive to researchers because of what we are injecting into the research. I was discussing with the chairman of the council and asked him if I could move N50 million into a research grant this session. When I came in, there was no research grant, and the university did not contribute anything to master’s and PhD. How have you encouraged grant writing among lecturers to boost their capacity? If you want to go for a research programme, the university will fund it 50 per cent. Before I came, if you are doing a master’s and PhD, there was no contribution. So I told them that I would give them N100,000 per year as a subsidy so they can run their programme. So they will just sign an undertaking that when they finish, they must stay. So if you are going to

do your master’s or PhD within the university, we give you 50 per cent discount so that you can run your programme on your own. But if you go out, you will only get 25 per cent or N100,000. Again, we are trying to step up with that. If you want to go for a PhD programme, we pay your tuition. The only PhD student who graduated at the last convocation ceremony is a staff of the university. Two years ago, we had three members of staff who graduated. We try to encourage them to do that so we could give them financial support. We are trying to increase that into grant support. Only two or three of the members of staff got grants this year. A PhD student, Dr Paul Osamudiame, got a sitting lab grant and got equipment worth N13,000,000. We paid for the transport to bring it from the US to the university, and a whole lab has been established for it. We had a lot of equipment brought for him. That was a grant for him to do research, and the equipment will now become that of the university. Prof Sunday Fayomi also got a grant from South Africa and he runs the metalogical lab. Those two are the substantial ones we can talk about. The third one, Prof Joseph Oyebanji, got a grant of N150,000 but I don’t count that. I told them that they can start small, but they need grants like N5,000,000 or N10,000,000, because we are still going to assist him in running the programme. You were once quoted to have said lowering the UTME cut-off mark will create a level playing ground considering the standard of education in the country. Can you throw more light on this? What I said was that lowering the cut-off mark does not lower the standard of education. However, what I meant by level playing ground is that for admission in the private university, we admit everybody who meets the cut-off mark. In public

How do you think the country can boost engineering programmes? One thing that engineers lack is management. COREN has started Outcome Based Education (OBE). In the past, it used to be a stereotype. How do you apply what you have been taught? How do you manage the facilities given to you? We were never taught. So when you go outside, you know all the theories, but how about the applications to real-life situations? This is what is missing. As an engineer, you need to know how to manage engineering principles for the benefit of mankind. When I teach Engineering management, the first thing I do is to split my class into seven units, and the students must be able to solve a problem. Problems there can be diverse ways of solving them. Afterwards, they will present a seminar, and while doing this, others are monitoring you. It is not about theory. Engineering graduates should have management skills so that if they must manage a company, they will know what to do. What is your view about the standard of education in the country and what do you think should be the way forward? I think that is a major issue. We are very intelligent and good, and our standard is very high. By the time the students we are graduating go out, they do very well. That is to tell you that they have the fundamentals. It’s just the application that they lack. When I went for my master’s programme in Cranfield, we were 35 in my class, six Nigerians, and four of us top the class. They called us and asked us where we studied. So instead of us spending two years on master’s, we only spent one year. We have the basics and the mental capability, but we lack the practical aspect of it. In terms of facilities, the government is not investing anything in that area. TETfund is doing a good job. If we can use the funds properly and get them good equipment, it will go a long way rather than cutting corners.

NGO Launches Post-COVID-19 Educational Response Plan for Orphans, Others Adedayo Akinwale ÓØ ÌßÔË

A non-governmental organisation, Educational Network Against COVID-19 (ENACOVID), has launched a National Post-COVID-19 Educational Response Plan for citizens affected by the pandemic, especially widows, orphans, former commercial sex workers and youth groups across the country. Its Executive Director, Dr Ben Onwudinjo, while briefing journalists in Abuja, said the programme targets all groups whose fortunes and possibilities of getting educated might have been adversely impacted by the pandemic. He revealed that the NGO awarded tuition scholarships to vulnerable women and youths at no cost to the government or the beneficiaries.

Onwudinjo noted that the programme is expected to last for 20 years, with the Minister of State, FCT Dr Ramatu Tijjani Aliyu, approving a memorandum of understanding for the educational Network Against COVID-19. The federal government screened and released at least 3,000 widows, orphans, ex-commercial sex workers, victims of domestic violence and youth groups to the NGO for training. The executive director explained that with the support from members of the University of Nigeria Alumni Association, Abuja branch, the NGO had trained them on different skills,

which include catering craft, cosmetology, tailoring, driving/mechanics, computer coding/ programming, solar power and CCTV installation, among others. He noted that successful ones would write the Federal Ministry of Education organised NABTEB modular examinations by the first quarter of 2023. “We also prepared them to sit the Nov/Dec 2022 West African Examinations Council and NABTEB exams, where we paid their tuition and equally paid their examination fees,” said Onwudinjo. “If you come to the exam centre inside Jabi Primary School with Centre number 5020606, you can see at least a hundred of them writing the exams with joy while we have almost

2,900 of them waiting to be registered to enable them to write the Jan/Feb 2023 WAEC external exams.” He added, “To register the remaining 2,900 candidates for the WAEC 2023 Jan/Feb exam, we need public support to the tune of N52,200,000 since WAEC charges N18,000 per candidate.” Onwudinjo urged the public to make donations via the NOG’s Access Bank No: 1483500599 (USD Account Number at Access Bank 1667997593) or via bank draft in favour of WAEC. Onwudinjo stressed that the programme would be extended to all 36 states at no cost to any of the state governments since the FCT pilot scheme recorded a huge success.

T H I S D AY ˾ WEDNESDAY NOVEMBER 16, 2022

EDUCATION

Again, MLSCN Rates PAMO University Best in Medical Sciences PAMO University of Medical Sciences is on many lips for its outstanding standard of education and commitment to filling the gap in the medical field. Blessing Ibunge reports

ccolades keep rolling in for PAMO University of Medical Sciences (PUMS), which recently held its first induction ceremony for the Department of Medical Laboratory Science. The latest réclame was from the Chief Executive Officer of the Medical Laboratory Science Council of Nigeria (MLSCN), Dr Tosan Erhabor. Lauding the institution, Erhabor declared it the best in medical sciences in the country. His praise came on the heels of the Registrar of Nursing and Midwifery Council of Nigeria (NMCN), Farouk Abubakar, who hailed the institution for the great work it is doing to increase the manpower base of the medical sector, as well as its high standards, during its first induction ceremony for graduates of Nursing Science. Abubakar also advised the fresh graduates to adhere to the ethics of the nursing profession and display humility and honesty in their practice at all times. Erhabor, likewise, during his speech at the induction ceremony, commended the university for training the graduates in both knowledge and character such that they can withstand any challenge in society. Erhabor advised the management of the university and students to continue to show that “mentorship and hard work pays, not cutting corners. This university has come to show that it is doable if we all put our hands on deck that Nigeria will be a better place for us.” PAMO since its inception has been dedicated to building healthcare workers, including medical doctors, nurses and other allied courses in the country. Well-equipped and furnished to world standard, the university, situated in a serene environment in Port Harcourt, has been playing a key role in nationbuilding by moulding the teeming youth population through its teaching, research and community services. Accredited and recognised by bodies such as the National Universities Commission (NUC), the Medical and Dental Council of Nigeria (MDCN), the Nursing and Midwifery Council of Nigeria, Medical Laboratory Council, among others, has given it a top-of-mind

Some students and members of the university management team during the academic procession

mention for parents seeking the best education in medical sciences for their wards. Since its establishment five years ago, PAMO has been closing the gap in the medical field caused by emigration. It admits and trains students in different medical sciences fields. For instance, its nursing department offers four graduate certificates: Registered Nurse, Registered Midwife, Registered Public Health Practitioner and Bachelor of Nursing Science degree. In addition, its determination to ensure that the students graduate in record time has also boosted its reputation unlike in other universities where students often spend between six and seven years before they enter the labour market. With its position as a worldclass institution, it is no wonder

it keeps receiving acclaim for its high educational standard. One of the university’s greatest strengths is that it already has an existing teaching hospital established by its founder, a renowned medical doctor established in the 1980s called PAMO Clinics and Hospitals Group. The hospital has been at the forefront of providing high-class medical care and services to residents and visitors to Port Harcourt and Rivers State for nearly 40 years. Over the years, it has provided high-quality medical treatment and health promotion services spanning Internal Medicine, Family Medicine, Surgery, Obstetrics, Gynaecology and Paediatrics to individuals, families and corporate organisations spanning sectors such as energy, oil and gas, power, agriculture and construction. This means that from takeoff, the hospital has been aiding students right from the early stages in order to have full medical knowledge and experience. This is unlike other universities whose students are not exposed to hospital

Lack of Modern Library Bane of Nigerian Education Oluchi Chibuzor

Education stakeholders at the official book launch of a book, ‘The Undergraduate’, have attributed the declining quality of education in the country to a lack of modern libraries and poor reading culture among citizens. For them, the nation must return to the era of building public libraries while more families must adopt a deliberate position in teaching their wards to read books. ‘The Undergraduate’, a 23-chapter book forwarded by Aquila Njamah, follows the adventure of the fictional character Ifeanyi Uba as he navigates his way through the university. It also draws heavily on the author’s experiences and presents the lighter and sometimes dark side of higher education in modern society. For the author, Ifeanyi Uba, ‘The Undergraduate’ is not just a book that tells funny stories, it portrays the journey of an average youth in a Nigerian university.

“It is a journey to adulthood. It is a journey to maturity, and it is a journey of discovery of self as the book was based on many of my experiences,” Uba. He regretted how successive governments have failed to invest heavily in education and youth development. Drawing inference from the 273 pages book, former Special Adviser to the Governor of Enugu, Mr Anayo Agu, admonished parents to introduce and discipline their wards to read books at a tender age. He maintained that until Nigeria revives its reading culture by building modern libraries across the country, it will not catch up with the rate of development globally. “As we remove our bookshelves from living rooms and retire the books from our homes, things have not been the same again; and will not be the same again until we bring back books. The country cannot continue without having public libraries,” he said. “Our people are no longer reading books, and this remains a huge challenge for the educational sector.”

experience until they are at the 400 level. Little wonder the Vice-Chancellor of the institution, Prof Michael Diejomaoh, recently said that with PAMO University’s establishment, Nigerian students seeking to study medicine do not need to travel overseas. The high point of the induction ceremony was when the Pro-Chancellor, Dr Peter Odili, promised to give the 13 inductees N100,000 each, N200,000 to the best graduating students from the department and N500,000 to the overall best graduating students, Nathaniel Chimeka Deborah, and automatic employment as a lecturer in the institution. The former Rivers governor also advised the graduates to be exceptional in discipline and attitude to their patients and those who work with them. He said: “As you start work in the next few days, we will note if you are carrying the flag of PAMO very well and if found qualified, will have automatic employment in the university. Those who made first class will have automatic employment as a lecturer in the institution.”

16 Schools, 45 Students Get Pistis Foundation’s N25m Scholarship

L-R: The Vice-Chancellor of Technological University of River Shannon, Midlands-Midwest, Athlone Campus, Professor Vincent Cunnane with Miss Ugonna Ochiama at her masters degree graduation in Ireland recently

As part of events celebrating its fourth anniversary, Pistis Foundation, one of Nigeria’s leading non-profit social initiatives, held a scholarship awards ceremony during which a cheque donation of N25 million was presented to the Pistis Foundation Scholars and new beneficiaries from underserved communities. Scholarships were awarded to 45 students across 16 schools in Lagos, Oyo, and Ogun, high performers in various categories from the recently concluded 2021/2022 session also received cash rewards and other gifts. In his remarks, the visionary and the foundation’s board chair, Godman Akinlabi, said the foundation was committed to “wholesome society development.” Since its inception in 2018, the foundation has continued to impact the lives of thousands of economically challenged people through its various strategic impact initiatives, providing scholarships to 110 students, training 103 teachers and providing 13,000 medical

interventions through its medical and surgical outreach, ‘UBOMI’, ‘KOTS’ (Kids off the Streets), etc. Mr Leonard Thomas, Executive Director of Pistis Foundation, highlighted the foundation’s milestone. Furthermore, in line with its five-year strategic plan and overall goal to impact and empower the economically challenged in Africa sustainably, efforts are being undertaken with a long-term approach by the foundation to grow its education, health and shelter initiatives such as the official inauguration of PF advisory board members, the setting up of the UBOMI Medical Centre Hospital and the Kids off the Street (KOTS) partnership programmes, among many others. To ensure the project’s success, the foundation has partnered several organisations, including Adler Technology, SAPRO, Zenera Consulting, Divine Children’s Place, Nifty Steps School, Loveland School, Godwin Wecoch School, and Pedrisi School, among others.

T H I S D AY ˾ WEDNESDAY, NOVEMBER 16, 2022

BUSINESS/MONEYGUIDE

Japan Seeks Increased BilateralTrade with Nigeria Gilbert Ekugbe The Japanese government has announced plans to increase its trade relationship with Nigeria, noting that there are so many investment opportunities for both countries to explore in the coming years. The Trade Commissioner and Managing Director, JETRO Lagos, Taninami Takuma, stated this on the sidelines of the just concluded Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI). The Trade Commissioner however stated that the Japan pavilion attracted increase in businesses by the exhibitors as the number of visitors it

received during the fair was over 20,000 people. He added that within the duration of the event, the pavilion attracted over 23,000 visitors from various products, services, and technologies exhibited by the exhibitors, whilst over 1,000 Business 2 Business (B2B) discussions were recorded with the 10 days event. He pointed out that JETRO held stage events where six companies promoted their products in front of the audience. “For instance, Choya Umecshu Co Limited, the biggest producer of plum wine in Japan held a presentation and tasting event jointly with Mrs. Hidemi Obiorah, CEO of Hidemi Consulting. The

sweet and sour taste of their plum wine attracted numerous Nigerian. Also, Mrs. Hidemi demonstrated one Japanese cultural dance, Tanko-bushi and at last visitors and staffs altogether danced in a round circle,” he added. According to him, on JETRO’s survey, during the trade fair, there were over 1,000 B2B discussions recorded, noting that over 100 business contracts were concluded, while over 300 prospective contracts were recorded at B2B matchings during the period. “In the pavilion, Alteco Inc, Japanese super glue manufacturer distributed their products to the visitors “Cooling Patch” as a testing sample.

AES Confab: Speakers Harp on Peace, Security as Antidote for Economic Devt Emmanuel Olorunda-Otaru The unprecedented level of insecurity and safety pervading the entire country, which has never been experienced since independence, and impacting on the socio-economic wellbeing of the nation, came under discourse again last week. It was at the 12th annual national conference of the Academy for Entrepreneurial Studies (AES), with the theme: “Peace and Security, Sine-QuaNon to Entrepreneurship Development in Nigeria,” held in Lagos. The conference was chaired by Prof. Anya O. Anya. According to Prof. Bamidele Badejo of Department of

Geography, Olabisi Onabanjo University who was the keynote speaker, “terrorism, kidnapping, banditry, robberies, extortions especially from government officials and officials in uniform, corruption, vandalism, sea robbery, bombings, oil pollution, deforestation, climate change, are among the evils plaguing the country. “Safety and security lie at the heart of the prosperity of any nation because citizens want to feel safe, especially protected from risk or injury and also secured to be free from danger or threat. But today, security is challenged in all aspects of our daily lives and trust in the institution that

should keep us safe is low.” In her presentation titled, “Maximising Entrepreneurial Opportunities in Post COVID Pandemic in Nigeria,” Anambra State Chairman of MAN, Dr. Ada Chukwudozie, said, “the whole world suffered a total of six million deaths from a total of 638 million cases. Nigeria had its fair share of 266,000 reported cases with over 3,000 deaths.” She said, six decades after independence, Nigeria remains one of the poorest countries in the world, despite our oil discovery, and the least economically diversified, because of her pathological dependence on oil export earnings.

Expert Advises Companies Amid Increasing Insecurity Kayode Tokede Following the latest security alert issued by the UK government in Abuja, the Chief Commercial Officer, ITEX, Mr. Adekunle Adebiyi has addressed the impact of insecurity on sales and distribution of goods and services in Nigeria, and provided advisory on sustaining profit amidst the concerns. In October, the UK, US, and other foreign governments had issued travel advisories warning their citizens about travel to avoid traveling to Nigeria, particularly Abuja. Adebiyi, a former MTN sales executive in a chat with THISDAY commented on the impact these security concerns pose to businesses

in Nigeria and bemoaned the volatile nature of running a business in the Nigerian clime. Speaking on the many woes business owners and organisations have to endure, he said, “Running a business in Nigeria is a daunting endeavour that requires a level of adroitness and business acumen to make a success of it. “Although most businesses have their peculiar challenges, an unfavourable business environment characterised by bureaucratic processes, the poor state of infrastructure, and an everincreasing rate of insecurity will stifle businesses of any scale.” He lamented the state of insecurity in Nigeria, the sixth most terrorized

country in the world, and pointed out that these security alerts by foreign governments negatively impact and threaten foreign trade. In 2020, the Beekeeping Extension Society relocated its honey production from Kaduna to Kano and Guinness Nigeria’s sales fell from N142.97 billion in 2018 to N131.49 billion in 2019. Babatunde Savage, who was then the managing director of Guinness Nigeria, attributed the high cost of doing business in Nigeria and the difficulty in accessing raw materials to a number of factors, including insecurity, a lack of infrastructure, and a poor road and transport network. Adebiyi said, “Where there is insecurity, stock availability is impacted.

Funmi Babington-Ashaye Foundation Raises Awareness on Mental Health Funmi Babington-Ashaye Foundation has announced plans to organise a mental health awareness programme aimed at helping individuals, particularly women manage depression and anxiety disorders. Being a part of the foundation’s Mentors Programme, an initiative of the Funmi Babington-Ashaye Foundation provides platform to inspire women and to enable them achieve their maximum potential in career, business and in family life.

One of such mentors programme will hold on Saturday 19th November 2022 with the theme: ‘Recognition & Prevention of Depression and Anxiety Disorder’ as a way of raising mental health awareness amongst our women folk. President of the Foundation, Lola Adeleye said, this talk will be followed by a Walkathon around the Ikoyi area, starting from and ending at Norman Williams Street, the Foundation’s office. She said the guest speaker

is Yetunde Daramola, while Mariam EbereA-Hassan will be the event coordinator. The Foundation, which started in 2020 has grown extensively in a short time and provides learning opportunities for members, career opportunities and business insight, a networking platform, one-on-one mentoring program, personal and professional development forum/retreat whilst maintaining continuous discussions on a healthy work-life balance.

L-R: Trade Commissioner/Managing Director, JETRO Lagos,Taninami Takuma; Director, Economy, Trade and Investment, Ministry of Foreign Aﬀairs,Bolaji Akinremi; President, Lagos Chamber of Commerce and Industry (LCCI), Michael Olawale-Cole; Chairman, Board of Trustee, LCCI, John Odeyemi and Deputy President, Knut Ulvmoen, during the closing ceremony of 2022 Lagos International Trade Fair in Lagos

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ WEDNESDAY, NOVEMBER 16, 2022

MARKET NEWS

Stock Market Decline on Loses in Lafarge Africa, Others Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday declined by 0.02 per cent; following Investors’ profit taking in Lafarge Africa Plc and 12 others. The NGX All Share Index (ASI) decreased by 9.87 basis points or 0.02 per cent to close at 43,808.25 basis points. Similarly, the market

capitalisation lost N6 billion to close at N23.861 trillion. The market breadth closed positive, with 15 stocks advanced losers and 13 declined. Learn Africa and Computer Warehouse Group (CWG) recorded the highest price gain of 10 per cent each to close at N1.65 and 88 kobo respectively, while Caverton Offshore Support Group followed with a gain 8.75 per cent to close at

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

870 kobo, per share. Prestige Assurance went up by 8.33 per cent to close at 39 kobo, while Japaul Gold & Ventures appreciated by 7.41 per cent to close at 29 kobo, per share. On the other hand, Lafarge Africa led the losers’ chart by 9.66 per cent to close at N20.10, per share. Royal Exchange followed with a decline of 9.41 per cent

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

to close at 77 kobo, while Cornerstone Insurance went down by 9.09 to close at 40 kobo, per share. UPDC Real Estate Investment Trust lost 8.93 per cent to close at N2.55, while FTN Cocoa processors shed 8.82 per cent to close at 31 kobo, per share. The total volume decreased by 44.7 per cent to 103.465 million shares, worth N1.187

T R A D E D MAIN BOARD

billion, and traded in 3,045 deals. Transactions in the shares of FCMB Group topped the activity chart with 11.385 million shares valued at N124.225 million. Transnational Corporation of Nigeria (Transcorp) followed with 11.307 million shares worth N12.349 million, while Fidelity Bank traded 10.337 million shares valued at N42.294 million.

A S O F

Access Holdings traded 8.726 million shares valued at N71.029 million, while Guranty Trust Holding Company (GTCO) transacted 5.967 million shares worth N107.940 million. Analysts at Afrinvest Limited said “despite improved market sentiment, we expect sell pressures to persist as more investors rotate into fixed income assets (with attractive yields) amid runaway inflation.”

1 5 / 1 1 / 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, November 16, 2022

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ /ŶĚĞǆ &Ğůů Ϭ͘Ϯй dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ůŽƐƚ Ϭ͘ϭϲй ƚŽ ϭ͕ϵϱϲ͘ϵϴ

THISDAY AFRINVEST 40 INDEX

ŝŶĚĞǆ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ t W K ;Ͳϵ͘ϳйͿ͕ Ͳ ^^ KZW ;ͲϬ͘ϲйͿ͕ ĂŶĚ & D ;ͲϮ͘ϳйͿ͘ ƵŵƵůĂƟǀĞͲ ůǇ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϱ͘ϳй ŽĨ ƚŚĞ ŝŶĚĞǆ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

/ŵƉƌŽǀĞĚ ^ĞŶƟŵĞŶƚ &ĂŝůƐ ƚŽ >ŝŌ WĞƌĨŽƌŵĂŶĐĞ͙ ^/ ĚŽǁŶ ϮďƉƐ

THISDAY AFRINVEST 40

1956.98

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

-0.16%

5.5%

95.7%

25.6%

4.7%

33.0%

-26.7%

18.3%

6.4%

187.40

0.0%

8.1%

-4.9%

-18.5%

162.9%

15.4%

72.00

0.0%

7.5%

7.4%

0.1%

23.3%

12.1%

18.10

2.3%

4.6%

-30.4%

-11.7%

20.5%

3.1%

ϰϯ͕ϴϬϴ͘Ϯϱ ƉŽŝŶƚƐ͕ ĨŽůůŽǁŝŶŐ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ t WͲ

8 FBN Holdings Plc 9 Nestle Nigeria PLC

K ;Ͳϵ͘ϳйͿ͕ & D ;ͲϮ͘ϳйͿ ĂŶĚ ^^ KZW ;Ͳ

10 SEPLAT Energy PLC 11 Access Holdings PLC

Ϭ͘ϲйͿ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ƌĞƚƵƌŶ ŵŽĚĞƌĂƚĞĚ ƚŽ

12 United Bank for Africa PLC 13 Nigerian Brew eries PLC

Ϯ͘ϱϲй ;ƉƌĞǀŝŽƵƐůǇ͗ Ϯ͘ϱϴйͿ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂͲ

14 Okomu Oil Palm PLC 15 Ecobank Transnational Inc

ƟŽŶ ĚĞĐƌĞĂƐĞĚ ďǇ േϱ͘ϰďŶ ƚŽ േϮϯ͘ϵƚŶ͘ DĞĂŶǁŚŝůĞ͕

16 Stanbic IBTC Holdings PLC 17 International Brew eries PLC

4.00

ĂĐƟǀŝƚǇ ůĞǀĞů ǁĞĂŬĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚͲ

18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC

27.30 4.10

ĞĚ ĨĞůů ϰϰ͘ϳй ĂŶĚ ϱϯ͘Ϯй ƚŽ ϭϬϯ͘ϱŵ ƵŶŝƚƐ ĂŶĚ

20 Guinness Nigeria PLC 21 Presco PLC

74.65 120.50

0.0%

30 TotalEnergies Marketing Nigeri 31 Julius Berger Nigeria PLC

ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ ŽŶƐƵŵĞƌ

32 Custodian and Allied Insurance 33 Wema Bank PLC 34 Unilever Nigeria PLC

'ŽŽĚƐ ŝŶĚĞǆ ůĞĚ ŐĂŝŶĞƌƐ͕ ƵƉ Ϭ͘ϰй ĚƵĞ ƚŽ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ h &KK ^ ;нϭ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϯй ĂŶĚ Ϭ͘Ϯй ƌĞͲ ƐƉĞĐƟǀĞůǇ͕ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ

;нϭ͘ϮйͿ͘ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĨĞůů ϭ͘ϭй ĂŶĚ Ϭ͘ϲй ƌĞƐƉĞĐƟǀĞůǇ͕ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůůŽīƐ ŝŶ // K ;Ͳϯ͘ϲйͿ͕ KZE Z^d ;Ͳ ϵ͘ϭйͿ͕ t W K ;Ͳϵ͘ϳйͿ ĂŶĚ hd/y ;Ͳϭ͘ϰйͿ͘

KƵƚůŽŽŬ

ďƌĞĂĚƚŚ͕ ŝŵƉƌŽǀĞĚ ƚŽ Ϭ͘Ϭϯǆ ĨƌŽŵ Ϭ͘ϬϬǆ ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϭϱ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϭϯ ĚĞĐůŝŶĞĚ ǁŚŝůĞ ϳϳ ĐůŽƐĞĚ ŇĂƚ͘ ĞƐƉŝƚĞ ŝŵƉƌŽǀĞĚ ŵĂƌŬĞƚ ƐĞŶƟͲ ŵĞŶƚ͕ ǁĞ ĞǆƉĞĐƚ ƐĞůů ƉƌĞƐƐƵƌĞƐ ƚŽ ƉĞƌƐŝƐƚ ĂƐ ŵŽƌĞ ŝŶǀĞƐƚŽƌƐ ƌŽƚĂƚĞ ŝŶƚŽ ĮǆĞĚ ŝŶĐŽŵĞ ĂƐƐĞƚƐ ;ǁŝƚŚ ĂƩƌĂĐƟǀĞ ǇŝĞůĚƐͿ ĂŵŝĚ ƌƵŶĂǁĂǇ ŝŶŇĂƟŽŶ͘

Afrinvest West Africa Limited

10.9x

15.8x

7.4%

27.1x

6.1x

4.0%

3.7%

2.9x

0.6x

16.5%

34.2% 40.9%

20.10

0.8%

4.8%

-20.1%

-7.4%

20.7%

2.6%

2.4x

0.5x

15.4%

0.0%

4.2%

-7.2%

-13.3%

34.5%

12.8%

13.7x

5.0x

8.5%

7.3%

20.10

-9.7%

2.8%

-16.1%

-23.9%

14.0%

10.3%

5.8x

0.8x

9.9%

17.1% 52.7%

-7.5%

-9.1%

24.6%

2.2%

1.9x

0.4x

3.2%

-21.9%

-13.2%

122.7%

13.7%

20.7x

23.3x

4.6%

4.8%

1,088.90

0.0%

2.7%

67.5%

-16.2%

8.6%

4.4%

9.4x

0.8x

4.2%

10.6%

8.10

-0.6%

2.4%

-12.9%

17.5%

1.5%

1.6x

0.3x

2.5%

61.9%

7.05

0.0%

1.9%

-12.4%

-5.4%

16.5%

1.4%

1.9x

0.3x

14.2%

52.8%

37.40

0.0%

1.2%

-25.2%

-36.4%

10.9%

3.8%

15.6x

1.6x

4.3%

6.4%

169.50

0.0%

1.4%

19.4%

-21.9%

52.7%

30.7%

7.9x

4.3x

1.3%

12.7%

9.50

0.0%

1.5%

9.2%

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20.0%

1.1%

1.8x

0.4x

6.9%

54.4%

27.50

0.0%

1.3%

-23.6%

-18.0%

19.6%

2.5%

4.5x

1.0x

12.5%

22.2%

0.0%

0.9%

-19.2%

-36.5%

-5.0%

-1.7%

0.0%

1.0%

-3.7%

-16.0%

13.2%

3.2%

4.7x

0.6x

8.7%

21.2%

1.2%

1.0%

60.8%

19.9%

15.5%

1.3%

2.6x

0.4x

2.4%

39.2%

0.0%

0.7%

91.4%

-17.5%

16.7%

7.1%

11.4x

7.6x

10.6%

8.8%

0.4%

37.2%

-27.0%

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2.8x

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17.8% 46.1%

0.8x

-6.3%

3.30

-2.7%

0.5%

10.4%

-4.6%

12.4%

1.2%

2.2x

0.3x

6.1%

1.62

0.0%

0.4%

-30.2%

-19.0%

5.7%

1.7%

7.6x

0.5x

37.0%

13.2%

12.00

0.0%

0.5%

21.2%

-5.9%

46.0%

2.6%

5.5x

2.4x

12.6%

18.1%

16.30

0.0%

0.5%

-6.3%

0.0%

23.8%

7.9%

6.3x

1.4x

6.3%

15.8%

1.11

0.9%

0.4%

15.6%

-9.8%

19.0%

4.3%

2.1x

0.4x

1.8%

47.8% 20.1%

8.60

0.0%

0.3%

41.0%

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20.3%

6.3%

5.0x

1.0x

11.2%

10.25

0.0%

0.2%

16.5%

-40.6%

11.6%

3.5%

11.0x

1.2x

4.9%

9.1%

9.00

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0.2%

-5.3%

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46.4x

#N/A N/A

7.4%

2.2%

197.00

0.0%

0.2%

-11.2%

-16.0%

37.1%

6.2%

4.2x

1.4x

2.1%

23.9%

21.20

0.2%

-5.1%

-20.0%

18.6%

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4.6x

0.7x

11.8%

21.5%

5.35

0.0%

0.1%

-32.3%

-23.6%

18.2%

5.2%

3.2x

0.5x

9.3%

31.0%

3.15

0.0%

0.2%

337.5%

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15.7%

0.9%

4.0x

1.7x

7.6%

24.9%

10.00

0.0%

0.1%

-31.0%

-32.4%

3.1%

1.8%

0.9x

4.8%

-1.3%

0.90

0.0%

0.2%

60.7%

-1.1%

20.0%

1.5%

1.3x

4.4%

14.2%

3.88

2.1%

0.1%

-12.2%

-31.6%

5.95

0.0%

0.1%

0.8%

-3.3%

1.43

0.0%

0.1%

-5.3%

-5.9%

62.50

0.0%

6.25

0.0%

16.2%

0.0%

P ric e

7.0x

-21.5% 6.4%

#N/A N/A

0.7%

-17.7%

9.5x

0.6x

2.4x

0.3x

-4.1%

-231.7% 10.5% 7.1%

1.8x 1.1%

T o p 10 T r a d e s b y V o l u m e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

0.88

10.0%

FB NH

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LEA R N A F R C A

1.65

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T R A N SC OR P

11.3

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C A VER T ON

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8.8%

F ID ELIT YB K

10.3

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P R EST IGE

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A C C ESSC OR P

8.7

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J A P A ULGOLD

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GT C O

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ST ER LN B A N K

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GT C O

18.10

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CHA M S

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T o p 10 T r a d e s b y V a l u e

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Value

P ric e C hg %

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WA P C O

20.10

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B UA F OOD S

221.6

1.2%

R OYA LEX

0.77

-9.4%

A IR T ELA F R I

131.0

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0.40

-9.1%

FB NH

124.2

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GT C O

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39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

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4.2x

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25 Dangote Sugar Refinery PLC 26 Transnational Corp of Nigeria

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22 FCMB Group Plc 23 AXA Mansard Insurance PLC 24 United Capital PLC

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P/E

41.5%

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ROE

1,270.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

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A IIC O

0.54

-3.6%

M TNN

FCM B

3.30

-2.7%

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WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

THIRTY-NINE

Nigeria, African Countries Lead as World Population Hits Eight Billion Emmanuel Addeh in Abuja The world’s population hit an estimated 8 billion people yesterday, according to a United Nations projection, with much of the growth coming from Nigeria and other developing nations in Africa. In Nigeria, resources are already stretched to the limit, an Associated Press report said, stressing that more than 15 million people in Lagos alone compete for everything, including electricity to light their homes daily. Over the next three decades, the West African nation’s population, the report said, is expected to soar even more from 216 million this year to 375 million, the UN noted.That will make Nigeria the fourth most populous country in the world after India, China and the United States. “We are already overstretching what we have — the housing, roads,

the hospitals, schools. Everything is overstretched,” said Gyang Dalyop, an urban planning and development consultant in Nigeria, quoted by the report. The UN’s Day of 8 billion milestone Tuesday is more symbolic than precise, officials are careful to note in a wide-ranging report released over the summer that makes some staggering projections. The upward trend threatens to leave even more people in developing countries further behind, as governments struggle to provide enough classrooms and jobs for a rapidly growing number of youth, and food insecurity becomes an even more urgent problem. Nigeria is among eight countries the UN says will account for more than half the world’s population growth between now and 2050 — along with fellow African nations Congo, Ethiopia and Tanzania.

“The population in many countries in sub-Saharan Africa is projected to double between 2022 and 2050, putting additional pressure on already strained resources and challenging policies aimed to reduce poverty and inequalities,” the UN report said. It projected the world’s population will reach around 8.5 billion in 2030, 9.7 billion in 2050 and 10.4 billion in 2100, according to AP. Other countries rounding out the list with the fastest growing populations are Egypt, Pakistan, the Philippines and India, which is set to overtake China as the world’s most populous nation next year. In Congo’s capital, Kinshasa, where more than 12 million people live, many families struggle to find affordable housing and pay school fees. While elementary pupils attend for free, older children’s chances depend on their parents’ incomes,

it added. Rapid population growth also means more people vying for scarce water resources and leaves more families facing hunger as climate change increasingly impacts crop production in many parts of the world. Still, experts say the bigger threat to the environment is consumption, which is highest in developed countries not undergoing big population increases. According to the UN, the population in sub-Saharan Africa is growing at 2.5 per cent per year — more than three times the global average. Some of that can be attributed to people living longer, but family size remains the driving factor. Women in sub-Saharan Africa on average have 4.6 births, twice the current global average of 2.3. Families become larger when women start having children early,

and four out of 10 girls in Africa marry before they turn 18, according to UN figures. The rate of teen pregnancy on the continent is the highest in the world — about half of the children born last year to mothers under 20 worldwide were in sub-Saharan Africa. Still, any effort to reduce family size now would come too late to significantly slow the 2050 growth projections, the UN said. About two-thirds of it “will be driven by the momentum of past growth,” it added. “Such growth would occur even if childbearing in today’s high-fertility countries were to fall immediately to around two births per woman,” the report found. There are also important cultural reasons for large families. In subSaharan Africa, children are seen as a blessing and as a source of support for their elders — the more sons

and daughters, the greater comfort in retirement, the AP report noted. Still, some large families “may not have what it takes to actually feed them,” said Eunice Azimi, an insurance broker in Lagos and mother of three. “In Nigeria, we believe that it is God that gives children,” she said. “They see it as the more children you have, the more benefits. And you are actually overtaking your peers who cannot have as many children. It looks like a competition in villages,” she added. Even as populations soar in some countries, the UN said rates are expected to drop by 1 per cent or more in 61 nations. The US population is now around 333 million, according to US Census Bureau data. The population growth rate in 2021 was just 0.1 per cent, the lowest since the country was founded.

The minister noted that since inception, the programme which enjoyed very high political visibility, had continued steadily with strong performance and demonstrable high-level of ownership by states and non-state actors, especially the civil society and the media. The primary objective of the programme, she said, was to instil a common set of fiscal behaviour and standards and facilitate the widespread adoption of good practices in fiscal and public financial management across the states, while respecting their fiscal autonomy. She stated, "These good practices include preparation of citizen-based budgets, timely preparation and publication of annual budget and audited financial statement, as well as adoption of National Chart of Account, amongst other Disbursement Linked Indicators (DLIs). "There is no gainsaying the fact that over the years, SFTAS has achieved its set objectives and recorded significant milestones in improved fiscal transparency and accountability; increased domestic revenue mobilisation; increased efficiency in public expenditure; and strengthened debt management in line with the already imbibed ideals." Ahmed said these important milestones called for celebration, and explained that she was of the belief that with the resounding success recorded, especially the wholesale adoption of the SFTAS Charter by all the 36 state governors, the programme ideals already

entrenched in the fiscal governance space at the sub-national level would continue to enjoy a place of pride in the conduct of fiscal governance, even in the absence of any further fiscal incentives. In his remarks at the event, Chaudhuri described SFTAS as a flagship programme, which lived up to expectation. While commending the deep involvement of both the federal and state governments, and underscoring the need to cement the relationship between both levels of government in order to deepen accountability and transparency, he said, “states are where the action is. The states are closer to the people. Fiscal management is the beginning; then other things follow”. On his part, Sokoto State Governor Aminu Tambuwal, who is also Chairman of the Nigeria Governors' Forum (NGF), said SFTAS grants were very useful. Tambuwal added that states had begun to streamline their operations, cut cost, publish their accounts, and deepen citizen engagements. Tambuwal also stated that the release of N1.2 billion to states to fight the COVID-19 pandemic was timely and vital. He said many states had reviewed their laws to improve tax payments, while deliberate efforts were made to bolster internally generated revenues and publish performance report every quarter. He said states had signed a fiscal responsibility charter and were willing to work with partners and stakeholders to move forward.

AHMED: NO GOING BACK ON PHASED PETROL SUBSIDY REMOVAL IN 2023 lowed an earlier advisory by World Bank Country Director for Nigeria, Mr. Shubham Chaudhuri, who maintained that subsidy remained the white elephant contributing to Nigeria’s macroeconomic woes. Speaking during an interactive panel session on the, “Future of Fiscal Policy,” Chaudhuri said restoring the health of fiscal policy was key to actualising the country’s full potential. He said phasing out fuel subsidy could provide additional revenues for the government to fund its deficit. The World Bank country director said the country currently required an “emergency operation,” adding, “Nigeria has to stop bleeding now.” He also said Nigeria needed to spend more on the right things, raise more revenues and spend better so as to inspire the citizens to pay their taxes willingly. Meanwhile, the federal government assured states that they would receive the last tranche of the performance-based grants, including N1 billion withheld by the Central Bank of Nigeria (CBN), through the naira exchange deficit under the World Bank-assisted States Fiscal, Transparency, Accountability and Sustainability (SFTAS) programme. Ahmed disclosed this at a dinner in celebration of SFTAS' achievements and presentation of awards to best performing states. The minister said at the closing media briefing for NES#28 that the government needed to do more to properly educate Nigerians on the need to stop the subsidy regime, particularly by highlighting its

negative effect on the economy and what they stood to benefit from its removal. She pointed out that the country had been borrowing to fund petrol subsidy, adding that this has become unsustainable amid the present fiscal challenges. Specifically, she said fuel subsidy was a fiscal drain, stressing the need to improve public finance management. The minister also said the government would strengthen its dialogue with citizens, especially the civil society organisations and labour unions, to get their support preparatory to phasing out the fuel subsidy regime. Analysts at the summit also proffered solutions to the country’s foreign exchange challenges. In a breakout session, with theme, “Monetary Policy Management in Challenging Times,” Group Managing Director, Parthian Partners, Mr. Oluseye Olusoga, urged Nigeria to return to the path of productivity in order to address the foreign exchange crisis. Olusoga said the solution to the problem could not be achieved by shifting blames among government agencies, but called for synergy between the monetary and fiscal policies that will ensure that the nation focused on increased local production. He said the pressure on Nigeria’s forex occurred when foreign investors came in to buy securities and, in the bid to repatriate their money, demand for forex, which is often more than the amount

NIGERIA AIR: COURT RESTRAINS FG, OTHERS NIGERIA, ETHIOPIA PARTNERSHIP security clearance. According to them, the federal government’s partnership with Ethiopian Airlines on the project would send domestic airlines out of business by opening up the domestic air travel market to Ethiopian Airlines. Meanwhile, Sirika has insisted that the federal government would not go back on the plan to establish the national carrier. Speaking during a stakeholders’ appreciation forum for the reconstruction of Lagos airport Runway 18L, Sirika said aviation stakeholders and unions had sufficient time to participate in the process rather than engaging in legal suit to stall the project. He disclosed that he personally and individually engaged indigenous carriers to participate in the project, listing some of those he engaged to include Air Peace, Azman Air and Max Air. However, he said they turned down the invitation because it was not formal. The Minister reiterated that he did not see the possibility of any court of competent jurisdiction that would be a road block to the emergence of the national carrier. “I have been very transparent in the processes put in place to deliver

the national carrier. If anyone wants to invest in a company, no one can stop them from investing. You can own a company 100 percent. If anyone wants to invest, why not? We want foreign direct investment," Sirika said. He said it was totally unacceptable and unfair for stakeholders to claim that they were not carried along on the national carrier project, adding parading such information was working contrary to the actualisation of the aviation road map. "Every information or documents pertaining to the project is domiciled at the Ministry of Aviation and Infrastructure Construction Regulatory Commission which are driving processes leading to the national carrier," Sirika said. On the demolition of structures at the Lagos airport, Sirika said there was no going back on the project to ensure Nigeria delivers state-of-the-art facilities that would transform into an aerotropolis. Nigeria, he said cannot short change itself on the global move to deliver world class air transport infrastructure as it's been done in other developed countries such as United Arab Emirates, America, amongst others.

they invested in the economy, thus, causing distortions in the forex market. Executive Secretary/Chief Executive, Nigerian Investment Promotion Commission (NIPC), Mrs. Saratu Umar, stressed the need for Nigeria to channel investment to the non-oil sector for massive forex inflow. Umar argued that diaspora remittances should be channelled into the non-oil sector, stressing that portfolio investment has never helped the country in any form. She said, “Nigeria has abundant cash crops of cocoa, coffee, cotton, groundnut cassava hides and skins, among others, that if well tapped and processed are capable to increase the nation’s foreign exchange earnings that will impact positively on the country’s foreign reserves and by extension, Gross Domestic product (GDP).” On his part, the erstwhile President, Manufacturers Association of Nigeria (MAN), Mr. Mansur Ahmed, said the COVID-19 pandemic affected manufacturing all over the world, but the intervention of the Central bank of Nigeria (CBN) helped the industry achieve some degree of resilience. According to him, without the government’s intervention, the sector would have witnessed more troubles.

FG to Disburse Last Tranche of Word Bankassisted Grants to States

The federal government assured that states would receive the last

tranche of the performance-based grants, including N1 billion withheld by the Central Bank of Nigeria (CBN), through the naira exchange deficit under the World Bank-assisted States Fiscal, Transparency, Accountability and Sustainability (SFTAS) programme. Ahmed, who disclosed this at a dinner to celebrate SFTAS' achievements and present awards to best performing states in the successive Annual Performance Assessments (APAs) conducted over the last three years. The four-year programme (20182022) was designed to establish a system of performance-based grants to states, conditional on sustained implementation of fiscal management plans. The sum of N471.9 billion had so far been disbursed as grants to states, which met the Disbursement Linked Indicators (DLIs) and Eligibility Criteria. Ahmed said, "Your Excellences, I am pleased to inform you that in the next few weeks, your states will receive the last tranche of performance-based grants, including the sum of N1 billion withheld by the central bank through the naira exchange deficit, thus, bringing to a close the performance for results grant, even though the technical assistance component will continue to be delivered by implementing agencies and partners till June 2023, when the programme will finally wind down." Many state governors, development partners, top government functionaries, and other dignitaries attended the award dinner.

T I N U B U ’ S P R AY E R , ‘ G O D B L E S S P D …’ P R O P H E T I C , S AYS O P P O S I T I O N PA RT Y APC presidential candidate had earlier in his address admitted that Nigerians were “in distress” under his failed APC but that hope was on the way. At the same time, the presidential candidate of PDP and former Vice President, Atiku Abubakar, said his agenda for restructuring Nigeria was to ensure a more efficient government. PDP said in its statement, "Since Asiwaju Tinubu’s prophetic blessing on the PDP, our party has been receiving flurries of calls, solidarity messages and visits from key members of the APC, who believe that his prayer is a divine act of God to point the nation to the right direction. "It is apparent that Asiwaju Tinubu was speaking under the ostensible weight of the recent revelation of his indictment for narcotic trafficking, which has become a huge burden from which he cannot extricate himself and for which he has lost all moral and legitimate capacity to occupy the office of the President of the Federal Republic of Nigeria. "This, perhaps, explains why Asiwaju Tinubu was incoherent and had no concrete message to Nigerians at the flag-off of his

campaign. "It was pathetic as Nigerians watched with pity as the APC presidential candidate, who is dazed by the intimidating credentials and popularity of the PDP presidential candidate, Atiku Abubakar, could not articulate any solution to the myriad of problems brought upon our nation by the failed APC, which he boasted of having installed and superintends over as national leader." PDP further said Tinubu could not proffer any solution or idea to the challenges of insecurity, disunity, unabated killings, rising unemployment, tumbling Naira, collapsing economy with unprecedented debts of over N40 trillion, arising from summersaulting macro-economic policies of his failed and corrupt APC government. PDP counselled APC to note that Nigerians were not ready to listen to a presidential candidate like Tinubu, whom it claimed, had continued to engage in insults, vituperations and uncontrolled outburst rather than focus on issue-based campaign. It said, “The APC presidential candidate should be more concerned with his narcotic indictment

and inconsistencies in his personal biodata of name, age, ancestry, education and record of work, which Nigerians have the right to know. “Having prayed for the PDP as the hope of the nation, Nigerians expect Asiwaju Bola Ahmed Tinubu to have the courage to admit the fact that are already in the public domain, apologise to the nation and withdraw from the race.” Atiku, who spoke at the 24th Lecture Series of the Lagos Business School, yesterday, said he would encourage the National Assembly and state Houses of Assembly to come up with constitutional amendments that would give more powers and resources to state and local governments. Atiku, who was a keynote speaker in a panel of Question and Answer session, said he believed in small government and that the private sector should be given the opportunity to play a bigger role in the economy. He stated, “As Vice President of the Federal Republic of Nigeria between 1999 and 2007, I headed the economic team that implemented fundamental economic reforms, including the design and implementation of a private sector

revival strategy. “We focused on macro-economic stability and transforming critical areas, such as banking, insurance, oil and gas, telecommunications, pension and the civil service. We created novel institutions for laying the foundation for good governance and accountability, such as the Bureau of Public Procurement, Economic and Financial Crimes Commission, and SERVICOM. “With many years in the private sector, I have a deep understanding of our economy and its challenges.” Atiku said his five-point agenda was a document containing solutions to the many challenges besetting the country. He said, “I am an active operator in the private sector. I am a manufacturer, service provider, and an educationist. So, I have first-hand experience of what the private sector needs and I also have experience in governance. “The PDP economic reforms recorded significant achievements between 1999 and 2015. Now, you have seen the impact of the people that took over from us. Nigerians can pick between the two. If you give the PDP another opportunity, we will perform even better than we did before.”

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

RISE UP WIDOWS' CONCERT... L-R: Former Lagos State Deputy Governor, Mrs. Sarah Adebisi Sosan; Former First Lady, Lagos State, Mrs. Abimbola Fashola; Founder, Rose of Sharon Foundation (RoSF), Mrs. Folorunso Alakija; Member, Board of Trustees, Mrs. Nike Akande; and another member, board of trustees, RoSF, Mrs. Onari Duke, during the Rise Up widows' concert held in Lagos… yesterday

Obi to Soludo: As Professor I Pray You Perform Better Than I Did as Governor

LP tackles Anambra Gov., says he’s envious of its presidential candidate’s rising profile Party appeals to Nigerians for support, says only N10m raised for campaigns Confident of victory in Lagos, seeks presidential candidate’s intervention in resolving crisis

Emameh Gabriel in Abuja and Ugo Aliogo in Lagos The presidential candidate of the Labour Party, Mr. Peter Obi yesterday reacted to Monday’s comments by Governor Chukwuma Soludo of Anambra state on his performance when he was governor of the state. Obi, who spoke at the 2022 Lagos Business School (LBS) Alumni Conference in Lagos, prayed that as a professor, Soludo should perform better than him (Obi) when he governed the state. Obi said: “Soludo remains my elder brother, we are very close. I remain prayerful for him. For things which I didn’t succeed as governor, God has given him opportunity to

do it and succeed. “So, if there is anything pending, governance doesn’t finish, people are still in government in America. You stop where you will stop, other people will continue from there. I have done my little own as a trader, now the professor is there he will do his own as a professor, the schools I didn’t roof he will roof them, that’s how government goes.” Soludo had said the investment made by Obi on behalf of the state when he was governor are presently worth next to nothing. The comment attracted attacks from supporters of Obi on social media platforms, prompting Soludo to release a statement on Monday, in which he had among other issues, criticised the performance of the labour party

Insecurity: CSO Urges Security Agencies to Act on Intelligence Report Provided by DSS Laments lack of synergy Udora Orizu in Abuja A civil society organisation known as the Citizens Stability Forum (CSF), has urged Nigeria’s security agencies to act on intelligence provided by the Department of State Services (DSS) in containing the security threats bedeviling the country. The CSO in a statement signed by the lead convener of the organisation, Mukhtar Lawal, called for more synergy among the security agencies in the country. It urged all the security agencies and the public to collectively work together to stem the current insecurity situation in the country. The organisation lamented that the current insecurity happenings in Nigeria have exposed the lack of collaboration and synergy between security agencies in the country. According to it, the most disturbing aspect been the continuous disregard for security intelligence provided by the Department of State Services (DSS) to the Military, Police and Paramilitary security agencies, something he said in

some countries could be treated as treasonable offence. The CSF noted that a lot of the success and ability of the DSS to meet up with its own security responsibility was due to the excellent leadership from the DSS hierarchy led by Director-General of the DSS, Mr. Yusuf Bichi. The DG, the organisation said had instilled commitment, diligence, and pro-activeness in tackling insecurity across the county. It called on the federal, state and local governments to jointly provide enough and the latest security working equipment for effective services, and pleaded with security agencies to secure this country by working collectively. The statement reads, "The Department of State Services (DSS) is one of the most important arms of Nigeria’s security setup saddled with critical functions of prevention and detection of any crime/terrorism against the internal security of Nigeria and provision of timely advice to Government on all matters of National security interest among others.

presidential candidate when he was governor. Soludo in a lengthy write-up he personally authored titled: ‘History Beckons, and I will not be Silent (Part 1),” had said he would not succumb to bullies, adding that Obi would lose the 2023 presidential election. Commenting on the investments he made, Obi said: “The one that they said is worthless is that we invested $3.5 billion in International Breweries. International Breweries is part of Ab Inbev, which is the biggest brewery in the whole world. “We had a policy when I was governor that any company, foreign

investor who wants to invest in Anambra state, we will buy 10 percent of the company, and under the condition, we started an agreement that they will give Anambra people work to the minimum of not less than 40 percent. “They built a facility in Anambra state. That facility is there today employing, directly and indirectly, over 10,000 Anambrarians. They bring one of the highest revenue source for the state. “When you spread your investments, some will go up, some will go down. But overall, the company is still there, still doing well, and a part of a global chain.

“I needed to explain it because of the comment of my brother. My brother remains my brother. “He is a governor of my state; my senior brother. He’s even more intelligent than me. He is a professor; I’m a trader. So, he will be able to do things more than I have done it.” Meanwhile, the National Chairman of Labour Party, Mr. Julius Abure has described Soludo’s comments against Obi as not only selfish but sign of envy. Abure also said the party would prove to Soludo that Obi owns the political structure of Anambra State, even as he reminded him ( Soludo) that he rode on Obi's legacies in

APGA to become governor. Abure said an upcoming Labour Party rally in Anambra would determine who the people of the state are loyal to. In addition, the party chairman disclosed that only a little above N10 million has been realised from donors to prosecute its presidential campaign, appealing to Nigerians for their continued support for the campaigns. Abure stated this yesterday during an interview with journalists at the party's national secretariat in Abuja. Continues online

Flood: Diri Recounts Losses as Humanitarian Affairs Minister Visits Bayelsa Group lauds NDDC, Umana, for fixing damaged East-West road Olusegun Samuel in Yenagoa and Blessing Ibunge in Port Harcourt The Governor of Bayelsa State, Senator Douye Diri yesterday received the Minister of Humanitarian Affairs, Disaster Management and Social Development, Mrs. Sadiya Umar Farouq, restating his call for effective support from the federal government and well-meaning individuals and organisations to the state over the recent flood disaster. Receiving the minister and members of her entourage during a courtesy call in government House, Yenagoa, Diri said the visit to the state was long expected, especially when the flood was at its peak. The governor, who spoke through the Deputy Governor, Senator Lawrence Ewhrudjakpo, pointed out that initially the government and people of Bayelsa State were not pleased with some remarks credited to the minister about the flood disaster in the state that Bayelsa was not among the 10 worst affected states in the country. Diri said the flood rose to over 4.5 metres above its normal level and caused unprecedented devastation, hence the news that Bayelsa was not among the worst-hit states

was unsettling and worrisome to its people. The Bayelsa governor who thanked the federal government for the relief materials it had sent to the state so far through the Ministry, however, pointed out that some of the relief items reportedly sent to the state were not officially channelled through the state government to the flood victims. He also thanked President Muhammadu Buhari for including Bayelsa as a member of the National Flood Relief Committee and expressed belief that the state would get her fair share from the federal government's post-flood relief measures. He said: “We are happy and elated that you have finally visited to commiserate with us. The flooding disaster is actually nobody’s fault but it is an issue of climate change. “For record purposes our meteorological department in the Surveyor General Office and Ministry of Environment monitored the flood and from records available it showed that the flood rose by 4.26 metres. "And that is why, for the first time almost the entire state was submerged in water. The NEMA

South-South representative can attest to the level of damage caused by the flood this year. "I also want to use this opportunity to thank the federal government for setting up a relief emergency committee and we are going to make suggestions that will ensure immediate relief for our farmers, fishermen and also cater for citizens' health challenges arising from the flood.” Earlier in her remarks, Farouq, said she and her team were in the state to empathise with the government and people of Bayelsa State over the devastating 2022 flood, which impacted negatively on the state. Farouq who commended the efforts of the Bayelsa State government in providing support for the flood victims, disclosed that part of her visit to the state was also to rollout her ministry's economic empowerment packages for beneficiaries from Bayelsa. The Minister also disclosed that the National Home Grown School Feeding scheme which commenced since 2016, would be introduced in Bayelsa this year, and called on the state government to create an enabling environment for the scheme

to succeed in the state. Meanwhile, a group, the Niger Delta Accountability for Progress (NDAP) has lauded the Niger Delta Development Commission (NDDC) and the Minister of Niger Delta Affairs, Umana Okon Umana for carrying out palliative work on sections of the East-West road destroyed by flood. The Convener of the group, Charles Ogbado recalled that the damaged road particularly dealt a deadly blow on Bayelsa State, which was cut off from its neighbours and led to massive humanitarian crisis as no vehicle from either Delta or Rivers State could access the state. The NDAP observed that the immediate intervention by the NDDC to repair the road and facilitate movement was an indication that the new leadership of the commission led by the acting Managing Director, Emmanuel Audu-Ohwavboru understood the mandate of the commission as an interventionist agency. Ogbado who spoke yesterday, further observed that the terrible condition of the road dislocated the entire Niger Delta and frustrated free-flow of commercial, social and cultural activities even after the flood.

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

NIGERIAN ECONOMIC SUMMIT... L-R: Managing Director, AT3 Resources Limited/ Chair, Communications, Central Organising Committee (COC), Nigeria Economic Summit Group (NESG), Tosin Adefeko; Chair, Technical Committee COC, #NES28, Adenike Adeyemi; Executive Director, Alpha African Advisory/ Co-Chair Joint Planning Committee, Ijeoma Taylaur; CEO, Alpha African Advisory, Sanyade Okoli, and Founder/CEO Green Bridge Advisory, Adaze Uzor-Kalu, during the 28th NESG summit in Abuja…on Monday

Lawyer Sues Tinubu over Alleged Certificate Forgery, Age Falsification Alleges CTC document revealed Tinubu's sex as female Alex Enumah in Abuja An Abuja-based lawyer and rights activist, Mr. Mike Enahoro-Ebah has dragged the presidential candidate of the All Progressives Congress (APC), Bola Tinubu to court over alleged certificate forgery, age falsification and lying on oath. Enahoro-Ebah in three separate

direct criminal complaints filed at the Chief Magistrate Court in Wuse Zone 6, Abuja, alleged that Tinubu supplied false information as well as attached forged documents to his form EC-9 submitted to the Independent National Electoral Commission (INEC) on June 17, 2022, to aid his qualification for the 2023 presidential election.

The three suits marked: CR/121/2022, CR/122/2022 and CR/123/2022 respectively, were filed on November 10, 2022 with Tinubu as the sole defendant. The complainant in suit number: CR/121/2022, alleged that the APC's presidential candidate and former Lagos State governor presented, "a forged Chicago State

University Certificate to INEC with intent that it may be acted upon as genuine, thereby committed the offence of forgery contrary to Sections 362(a), 363 and 364 of the Penal Code Act, Cap. 532, Laws of the Federal Capital Territory, Abuja." The complainant disclosed that there were contradictions between

David Hundeyin: It Will be Disastrous to Elect President Indicted for Heinous Crime in US Emmanuel Addeh in Abuja

A Nigerian-born United Statesbased investigative journalist, David Hundeyin, yesterday, doubled down on his exposé on the All Progressives Congress (APC) presidential candidate in the 2023 general election, Bola Tinubu, insisting that the world will further alienate Nigeria if it chooses to elect a leader with an international indictment. Speaking on his findings on the forfeiture of $460,000 to the American government by the politician, Hundeyin insisted that Nigeria was already a pariah nation in many parts of the world, explaining that it will further negatively affect the country’s image. Hundeyin, who spoke on Arise TV, THISDAY’s broadcast arm, urged Nigerians to read up the 57-page US report as a patriotic duty and reach their individual own conclusions. He also disputed that Tinubu worked in Deloitte and Saudi Aramco after the official feedback he got from the firms. He stressed that even if he (Tinubu) was a consultant, there was no way he would earn $850,000 at the time even as an equity partner. Hundeyin added that when Deloitte was subpoenaed on the matter, the firm said it never knew the APC presidential candidate and couldn’t find his records with the company. He urged the politician to explain how he could have been asked to forfeit a $460,000 tax on a $28,000 annual salary, ostensibly in response to a defence from Tinubu’s camp which said

the $460,000 seized by the US authorities was tax-related. The journalist maintained that the US report on the incident clearly stated that the matter was related to trafficking in narcotics and not payment for a tax default. He disclosed that a Nigerian lawyer was already taking up the issue independently, explaining that the argument that the misdemeanour did not take place in Nigeria and, therefore, should be discarded did not hold water. Describing it as possibly the biggest scandal in Nigerian history, Hundeyin noted that it was unfathomable that someone who was indicted for being a part of an illegal drug ring could be in the race to become Nigeria’s next president. Hundeyin “This isn’t a case of someone being involved in a

contract fraud or that someone stole money. That’s the usual thing in Nigeria and it’s no longer a surprise. But this is a whole new level. “It’s bad enough that everyday we have to live with the reality that Nigerians who live abroad are guilty by association anywhere Nigeria is mentioned. It’s difficult to quantify the amount of damage that this will do to us if he becomes the president. “ The world will begin to view us through that prism in a way that not even Colombia in the days of Escobar managed to do. It would be disastrous because we are already a pariah.” The APC presidential candidate has been a subject of discussion on the social media since Hundeyin posted a documentary of his alleged drug-related activities.

On why he was doubling down on Tinubu, Hundeyin said his intentions were to alert the Nigerian electorate concerning the character of the man intending to rule them from next year and also to nudge them to make the right decision. He stressed that his intentions were borne out of love for the country, and said his mission was to ensure that Nigerians did not make the same mistake they made with the current administration in 2015. Hundeyin explained that according to his investigation of the matter, it remained questionable that someone with a $28,000 annual salary could have a deposit of $1.4 million in the bank, insisting that Tinubu on discovering that his accounts were getting frozen, started buying real estate with the funds.

what Tinubu claimed and submitted to INEC and documents he obtained from institutions Tinubu claimed to have attended. According to him, he had applied for the said documents through his colleague, one Mathew J. Kowals, a Chicago-based legal practitioner, who issued an attorney subpoena on his behalf against the university in case number: 22-L-007289 on August 12, directing the school to mail him (Kowals) all documents and records pertaining to Tinubu in their possession. He claimed that copies of Chicago State University Certificate, academic records, undergraduate admission application form, University of Cambridge General Certificate of Education, and copy of Southwest College Transcript (now City College of Chicago) were later sent to him which he attached to the court documents as exhibits. He said, "Curiously, the information contained in the documents and school records received from Chicago State University contradict material information provided by the defendant in his sworn Form EC-9 submitted to INEC." The complainant further alleged that while the year of birth of the Tinubu that attended Chicago State University was 1954, that on the Form EC-9 submitted to INEC by the presidential candidate carries 1952. Complainant also alleged that the copy of the Chicago State University

Certificate released by the school, "is radically different" from the copy attached to Tinubu's sworn Form EC-9 submitted to INEC on June 17. According to him, a direct comparison of both certificates revealed different dates of issue by the university (June 22, 1979 and June 27, 1979); different university logo on both certificates; different grammatical construction on faces of the certificates, different signatures, among others. He said in support of the defendant's undergraduate admission application form submitted to Chicago State University in 1977, was a transcript from Southwest College, Chicago, bearing the name, "Tinubu Bola A," which belongs to a female student, contrary to Form EC-9 submitted to INEC which indicated that Tinubu is a man. He further alleged that the Tinubu that attended the university indicated in his undergraduate admission application form that he graduated from Government College, Lagos, in 1970, while the defendant in his Form EC-9 submitted to INEC provided no information as to his attendance of the said Government College, Lagos, among other allegations. He said it was in the best interest of Nigeria, justice and equity to issue criminal summons to ensure Tinubu's attendance in court to answer to the complaints. The case, which is before Chief Magistrate Emmanuel Iyanna, is yet to be scheduled for hearing.

Larbie, Ex-RMB Nigeria CEO Appointed Head for International, Broader Africa The immediate past Managing Director of RMB Nigeria Limited and Regional Head of West Africa, Mr. Michael Larbie has been appointed as the Head of International and Broader Africa at Rand Merchant Bank (RMB). The appointment became effective from November 1, 2022. Commenting on the appointment in a statement yesterday, RMB CEO, Emrie Brown, said: “Michael brings years of experience and outstanding leadership to this integrated portfolio. With over $30-billion worth of advisory and financing transactions across North America, South America, Europe, Asia and Africa in his

career to date, “I’m confident that Michael will be key in realising RMB’s geographic expansion strategy and the future growth of our business.” In taking up his new role, Larbie said his focus would be on helping African businesses and governments get through the current difficult economic and socio-political environment, while stepping up RMB’s efforts to facilitate investment flows into Africa. “Times are tough but global investors are always on the lookout for good opportunities. We will continue to tap into investor flows into the continent and provide

our on the ground insights and expertise. “With our ambitions comes the responsibility to make a better Africa, which includes helping drive ESG principles towards a more sustainable future for our clients and the societies we operate in,” he added. Larbie noted that much of his current focus would be advising African businesses on how to navigate a volatile economic environment of weakening local currencies, rapidly rising inflation, higher energy costs, higher interest rates and the ongoing power shortages across the continent. “In unpredictable times,

businesses need to ensure they optimally manage their cash flows and margins. Which means ensuring they manage their currency exposures, raw material and input costs, while also managing interest rate risk,” he stated. Larbie added that a growing focus for RMB was an increase in climate adaption and mitigation finance and advisory across the continent. “Sustainable finance and ensuring companies are tailoring their business to meeting ESG ambitions is a growing priority.” Prior to joining RMB in 2010, Larbie was the Head of Corporate and Investment Banking for

sub-Saharan Africa (excluding SA) at Bank of America Merrill Lynch and before that, Head of Financial Institutions Investment Banking for Africa in London at the same bank. Larbie holds an MBA in Finance and Entrepreneurial Management from The Wharton School and a Bachelor’s degree in Accounting and Sociology from the University of Ghana. He is currently a board member of First National Bank (FNB) Ghana, a member of RMB’s Corporate and Investment Banking Executive Committee, and a member of FirstRand’s Broader Africa Executive Committee.

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

FREE EYE CATARACT SURGERIES FOR OVER 200 BENEFICIARIES... L-R: Neelam Gupta; Deeksha Hiranandani; beneﬁciary of Free Eye Cataract Surgery, Mrs. Fausat Bosede Ogunfuwa; President, Rotary Club of Lagos Island, Anant Sabat; Assistant Governor, Fatima Omonike Maiyaki and Kamlesh Jain, during the free eye cataract surgeries for over 200 beneﬁciaries in Lagos....recently

2023: US, UK Worried over Attacks on INEC Offices

The United States and the United Kingdom have expressed concerns over the recent attacks on the offices of the Independent National Electoral Commission, INEC in the country. The UK Development Director, Foreign Commonwealth and Development Office, Chris Pycroft, and US Consul General, Mr. Will Stevens, expressed the worry while speaking at a forum on Monday. According to the diplomats, this portends grave danger to the 2023 elections. They also condemned the multiple attacks on INEC offices and violent rivalry among political parties in the country. Recall that INEC offices in Ogun and Osun states were attacked by unknown persons last week. According to INEC, about 41 attacks had been carried out against its offices in 14 states between February 2019 and May 2021. Speaking at the Northern Peace Conference on the 2023 General Elections in Abuja organised by the 2Baba Foundation in partnership with the J-Dev Foundation and the Child Protection and Peer Learning Initiative, Pycroft said the survival of democracy in Nigeria is critical

to Africa and the world at large. Themed, ‘Vote Not Fight: Election No Be War,’ the event attracted eminent personalities including the INEC Chairman, Mahmood Yakubu, Northern Elders Forum’s spokesman, Hakeem Baba-Ahmed, former Minister of Agriculture, Audu Ogbeh, among others. Pycrof said fears over the forthcoming election have heightened in Nigeria over the past few years even as he called on all stakeholders, particularly politicians to commit to peaceful conduct before, during and after the elections. He said, “As we approach the polls next year, attacks on INEC facilities and personnel, violent clashes between opposing members of political parties or broader security challenges are all factors that threaten the peaceful and inclusive and successful execution of the elections. “The largest democracy in Africa occupies a critical place in efforts to consolidate democracy elsewhere across the world. Credible, useful elections will deepen citizens’ trust and reinforce the foundations for democratic consolidation in Nigeria.” According to the diplomat, a peaceful environment enables people

to cast their votes on election day, without fear of harm, intimidation, or coercion. He pledged the support of the UK government to Nigeria both in ensuring the smooth conduct of the elections and in sustaining her democracy. On his part, Baba-Ahmed called on the United Kingdom and the rest of the international community to match words with action in their commitment to credible elections in Nigeria. The Northern Elders Forum’s spokesman called for adequate security measures to enable eligible Nigerians in various communities

participate in the electioneering process. On his part, Abdullahi Zoro who stood in for INEC Chairman, tasked political parties and their candidates to play by the rules for in his words, “the credibility of any government is determined by the credibility of the process that brings it to power.” He pledged the commitment of the umpire to doing a good job, saying “INEC places high premium in ensuring that the elections are free, fair and credible.” Meanwhile, the US has insisted on credible and peaceful polls for the 2023 elections, saying the polls

The Chairman of the All Progressive Congress (APC), Edo State chapter, Col. David Imuse (Rtd) has condemned in its entirety the plan by Edo State government to issue residency identity cards to Nigerians residing in the state as part of its plans for the development, growth and progress of the state, after spending six years in office. In a statement signed by the Assistant State Publicity Secretary of the party, Mr. Victor Ofure Osehobo, Imuse said Sections 25 and 26 of Nigeria’s constitution as amended explicates where the powers to decide who a citizen is and therefore identifies him or her with the National Identity Number (NIN), whose powers resides with the federal government.

“This shows inconsistency and lack of direction on the part of the governor. We call for a halt to this effort because it is dead on arrival. The federal government through the Nigeria Identity Management Commission has already settled these issues. “Any effort by any state government is a wasteful duplication that is not only illegal, but self-serving,” Imuse added. "Governor Obaseki is displaying ignorance if he claims not to be aware that citizenship of Nigeria and by extension, residency is a status that is legally granted to all Nigerians by birth and enables them to enjoy all the privileges and responsibilities that comes with that status. "If Edo state government is serious about identifying all Nigerians of Edo state origin residing

in a democracy. They feel like they have a stake in that democracy. ‘’When they vote, when they read your reporting, they feel like they’re part of the project of Nigeria, just like the project of the United States. So I’ll leave you with the words of one of my heroes, American investor and philanthropist Warren Buffett, who said, ‘’the smarter the journalists are, the better off society is.” According to the Consul General, the US has also earmarked over $50mn for the training of journalists, Civil Society Organisations and technical assistance among others to ensure transparent 2023 polls.

Fashola to Nigerians:VoteTinubu, He’s Our Best Bet As Obi insists government of misrule cannot stand test of time Alex Enumah in Abuja Minister of Works and Housing, Mr Babatunde Fashola, SAN, yesterday, told Nigerians to elect the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, as the next

president of Nigeria, saying he is the country's best hope. Fashola gave the advice yesterday in Abuja, at the 2022 annual lecture of the Epiphany Azinge Foundation and public presentation of the book, "Azinge: Born to

Edo APC Chair Kicks against State Govt’s Plan to Introduce Residency Identity Card Adibe Emenyonu in Benin City

must reflect the will of the people. Speaking at an open session of election reporting workshop for journalists, organised by West Africa Broadcast & Media Academy in Ibadan on Monday, the US Consul General, Will Stevens, added that the US government was looking forward to seeing a free and fair conduct of the 2023 election in Nigeria. Stevens said, “We really want to see a credible, transparent, peaceful election. That above all, represents the will for the Nigerian people in our programmes and our funding our ballot process, and encouraging people to vote. So people participate

in the state, the simple process is to boost awareness about the National Identity Number (NIN), encourage more citizens to get their NIN and thereafter liaise with the relevant federal agencies to get the data for all Edo residents. This is the proper thing to do." The Edo APC Chairman said this explained why he labelled the annual Alaghodaro Summit by the Governor Godwin Obaseki-led PDP government, “as a hollow ritual as it exposes the incompetence and lack of ideas on the part of the governor.” He asked, "How can a serious government whose tenure ends in the second quarter of 2024 be setting a target to issue one million cards to Nigerian citizens in Edo State before the fourth quarter of 2024? "Recall that earlier this year

same governor said all persons residing in Edo will be registered and given the identity card which will be linked to their Bank Verification Number (BVN) for proper identification, due to the growing trend of insecurity in the state. “Today he said the Edo State Resident Identity Card is for people living in the state and for those who want to stay in Edo and that it will now be linked to the NIN,” he added. The Edo APC Chairman said further: "As far as our party is concerned, Edo state does not need a new residency card linked or unlinked to the National Identity Number. As a party, we urge all our citizens to shun the invitation to go out and register themselves to be issued with this fake card, because the card is illegal and fraudulent".

Serve." He said Tinubu was the candidate with a proven record of development and progress among the frontline presidential contestants. The minister said leadership was about responsibility, and as the country prepared to elect new sets of leaders in a few months, the electorate should endeavour to make the right choice by voting someone, who had been tried and tested. "Azinge: Born to Serve" is a biography of renown Professor of Law and Senior Advocate of Nigeria, Epiphany Azinge. Speaking on the theme, Leadership and Service to Humanity, the minister, who also served as governor of Lagos State between 2007 and 2015, stressed that responsibility was the core of leadership. He stated that since the frontline presidential candidates had been governors for eight years, the electorate should use their performance in judging who was best for the position of president. Fashola said, "I urge Nigerians to make their choice of candidate from the presidential front-liners by critically assessing the impact of their past performances and responsibilities while in office. “There is no better candidate than that of the All Progressives

Congress (APC), Asiwaju Bola Tinubu.” He said Tinubu introduced various reforms that were still being copied by other states today, hence, he should be elected president. Speaking, too, presidential candidate of the Labour Party (LP) and former governor of Anambra State, Mr Peter Obi, urged Nigerians to vote wisely, stating that the citizenry have never had it so bad under the ruling APC. Obi was quick to point at the failure of the government to resolve the deadlock between it and striking lecturers, which lasted eight months. Stressing that the APC had not been fantastic as being presented by Fashola, Obi stated that any governance anchored on propaganda and misrule would not stand the test of time. He advised politicians to always give a balanced account of events and not to be be one-sided, stressing that Nigerian roads remain in a very bad shape. Azinge assured the audience that he would soon come out with his own autobiography. He said the theme of this year's lecture was chosen to reflect the times.

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

COURTESY VISIT TO MR GOVERNOR... Minister of Tourism from Gambia, Mr. Hamat Bah; Minister of Information and Culture, Alhaji Lai Mohammed; Secretary General, United Nations World Tourism Organisation (UNWTO), Mr. Zurab Pololikashvili; Lagos State Governor, Mr. Babajide Sanwo-Olu; Minister of Tourism from Sierra Leone, Mrs. Memunatu Pratt; Deputy Governor of Lagos State, Dr. Obafemi Hamzat; Secretary to the Lagos Government, Mrs. Folashade Jaji, and Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbile-Yusuf, during a courtesy visit to the governor, at the Lagos House, Marina… recently

FG: $700m Paid to 1.9 Million Households Under Social Security Programme Onyebuchi Ezigbo in Abuja The federal government has said $700 million was disbursed to over 1.9 million households from 2016 to date under its National Social Safety Net Program (NASSP). Under the NASSP initiative,

some segment of population considered highly impoverished were enrolled to benefit from the Conditional Cash Transfer of N5,000 monthly from federal government to help lift them out of poverty. Coordinator of the National Cash Transfer Office, Ibrahim Adamu,

who spoke to journalists during NASSP TPM Project Dissemination meeting in Abuja, said the current register of the beneficiaries of conditional cash transfer has 1,940,000 persons. He said the enrolment of beneficiaries was still ongoing

and that government was hoping that it would hit the target of two million by the end of December. "Our target beneficiaries may reach two million by the end of December and these two million individuals will translate to about 10 million in the household, " he said.

Fitch Rules Out Further Downgrade of Nigeria’s Rating in Near Term Focus on infrastructure debt instruments, CBN tells rating agencies Nume Ekeghe Fitch Ratings has stated that it does not foresee further downgrade on Nigeria’s rating in the near term, adding that it does not expect Nigeria to restructure its debts. Fitch Director, Sovereign Ratings, Mr. Jermaine Leonard, said this, expressing concern over the country’s rising debt stock. This was just as the Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Mrs. Aisha Ahmad, called on rating agencies to increase their coverage of infrastructure debt instruments in order to drive more credit to the sector. They both spoke yesterday at the ‘Fitch in Nigeria' event held in Lagos. Fitch Ratings had over the weekend downgraded Nigeria’s long-term foreign currency Issuer Default Rating (IDR) to ‘B-’ from ‘B’, pegging Africa’s biggest oil producer just six notches above default, and at par with Ecuador and Angola. However, speaking at the event, Leonard while speaking on Nigeria’s rating, said: “We talked about whether we needed to take additional negative action because we were concerned about some debt restructuring issues. Ultimately, we decided that we don't think that debt restructuring is a big near-term risk. “Instead, what we think the issue is that these debt service burdens will remain quite high and that will keep Nigeria's debt stock, especially the federal government's debt stock high. “If you compare it to other Fitch-rated sovereigns, just the federal government debt alone is quite high. But then if you consider only the FGN debt-to-revenue ratio,

again, it kind of starts to look a little bit daunting next to the rest of the Fitch rating universe. “And then again, if you think about those debt servicing costs, and what that means to the fiscal balance on an ongoing basis, it essentially means that a big chunk of the government's revenues are already placed well in advance of the fiscal year in which they are meant to be used. “That is going to have a deleterious effect on the government's ability to use fiscal policy to support economic growth and to do all the things that it needs to do over the next year and within any given fiscal year.” He added: “That is a problem and it is going to continue over the medium term. So, we are not necessarily concerned that there is going to be a debt restructuring announcement within the next six months or even years. But we do think that this debt servicing issue is something that will remain, at the forefront of our concerns over the next two to three years.” On oil production in the country, Leonard said while the country would be able to maintain between 1.1 million to 1.2 million barrels per day oil output, production would still remain below OPEC quota due to security issues that have so besieged the country. “We don't think crude production is going to go down to 500,000 barrels a day. We think we think crude production is going to rebound a little bit, kind of stay somewhere in the 1.1 million, 1.2 million barrels a day into 2023 and beyond. “And that is excluding condensates, which add another 300,000 barrels or so but you know, even if you add those back you still kind of well below OPEC quota and the kind of production performance

that Nigeria has seen in the past and again. “This is a combination of kind of ongoing major issues that need to be addressed as well as the acute security conditions, which, you know, with the election coming ahead, we think that's likely to get a little bit worse before it gets better. And so that's what's driving our kind of near-term forecasts of oil production,” he added. Also, speaking at the event, Ahmad noted that increased ratings on infrastructure debt instruments would drive more credit to the sector. She said: “On the infrastructure

side, I think, there should be more focus on infrastructure project finance as the significant infrastructure deficit in Nigeria is being discussed. “Focusing ratings in this area will provide price discovery on those instruments, which should help investors look in that direction.” However, in a similar event, Ahmad speaking on the sidelines after a tour of the national arts theatre in Lagos, which is playing host to United Nations World Tourism Organisation (UNWTO), noted that the creative industry was set to gain greater traction to contribute to the economy.

With regard to the states where beneficiaries have not been paid for two years, Adamu said the funds earmarked for them was held by the ICPC, but that the issues had now been resolved and payment to the beneficiaries will resume. Speaking on the value of total disbursement to beneficiaries of the programme, he said the, "federal government has so far paid over $700 million since the inception of the programme.” The Acting National Coordinator of NASSCO, Kabir Abdulahi, said that one of the greatest achievement of the project was that, "it has been able to provide succour to the less privileged people that have nobody standing in for them but have government standing in for them." He said the poor and vulnerable people in the society always needed government to provide social safety nets to enable them overcome the tribulations of poverty. While presenting report on dissemination of Year 2 Scorecard of Third-Party Monitoring (TPM) of the national safety net programme to stakeholders in Abuja yesterday, the Executive Director of the Centre for Health Education, Economic Rehabilitation and Social Security (CHEERS), Ajia Ogugua Agagbo said there had been areas the programme recorded successes and

where it witnessed shortcomings. She said that CHEERS led nine other civil society organisations (CSOs) for the monitoring and assessment visits to many rural communities across the country. Agagbo who spoke on the outcome of the Year Two monitoring in 18 states, said many of the participants had expressed satisfaction with enrolment adopted by NASSP in picking beneficiaries. The states monitored by the CSO group included Lagos, Ogun, Info, Ebony, Enugu, Delta, Edo, Bayelsa, Rivers, Zamfara, Kebbi, Sokoto, Yobe, FCT, Imo, Abia, Akwa Ibom and Borno states. Also regarding perception of critics that the impact of programme was not getting to the actual poor and indigent Nigerians as advertised, Agagbo said the monitoring team was able to meet with many of the beneficiaries who confirmed that the have being receiving the N5000 monthly payment. However, Agagbo said out of the 119,699 beneficiaries sampled during second year monitoring cycle, 56,244 (47 percent) were paid their stipends, while 63,425 (53 percent) respondents had not been paid. She said the reasons adduced for non-payment of cash to beneficiaries were due to logistics challenges.

Nigeria Wins International Award for Fighting Corruption at Sea Ports Govt slashes cost of ship berthing from $150,000 to $20,000 per vessel Deji Elumoye in Abuja Nigeria has earned an international award for fighting corruption from all fronts at the nation's sea ports. This was sequel to the collaborative efforts of the federal government with the private sector and a Civil Society group - Convention on Business Integrity (CBi) to curb corruption at the Sea-Ports. This feat earned Nigeria and CBi international praise, the first ever, "Outstanding Achievement in Collective Action Award," of the Switzerland-based Basel Institute on Governance. Specifically, because of the joint efforts of the federal government agencies which included - Shippers Council, ICPC, DSS and the

Nigeria Ports Authority (NPA), the Technical Unit on Governance & Anti-Corruption Reforms (TUGAR) alongside the CBi, through the Maritime Anti-Corruption Network, (MACN); the cost of a ship berthing in Nigeria - often aggravated by unreceipted extortions - has now drastically reduced from $150,000 per vessel that arrives in the country to about $20,000. This was made public yesterday, when a delegation of the CBi paid a courtesy call on the Vice President, Prof. Yemi Osinbajo, at the State House, Abuja. According to the CBi co-founder, Mr. Olusoji Apampa, the success recorded was now attracting international reviews as countries such as Egypt, Ukraine and India are planning to adopt the, "Nigerian

miracle" model to produce similar gains in their own ports’ operations. The international award recognised the work of the Nigerian MACN, which created a real time-based Help Desk to resolve complaints and concerns of shipping companies as soon as they berth at the ports. The Swiss-based international body recognised the initiative for the collective action where government, business and civil society have worked together for change. This was made possible by the establishment and success recorded by the first ever, real-time AntiCorruption Help Desk in Nigerian Ports, which instantly reports and resolves corruption-related issues. The group further noted that since the federal government

instituted the Help Desk in 2020, it has monitored just under 700 ships arrival to Nigerian ports. The CBi told the vice president that, "this would not have been possible without your interventions." Receiving the delegation and the award on behalf of government, the vice president praised the CBi and the MACN, commending them for their efforts alongside federal government agencies, noting that the Buhari’s administration would continue to support initiatives that improves the business environment and economy in general. "This is cheery news on our anticorruption efforts," a delighted VP said adding that what is required is to stay focused in the fight against corruption.

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TRIBUTE My One-in-a-million Grandma! Mary Nnah

his is a tribute that is difficult for me to write because I do not know where and how to begin talking about my one-in-a-million grandma, the late Ima Johnson Udo, popularly called Ima Ufon, as arrangements are made for her burial on Saturday, November 19th, at late Chief Johnson Udoumo’s compound, Ibiakpan 2, Otoro Abak, Akwa Ibom State after a funeral service at Church of Christ No.1, Ibiakpan 2, Otoro Abak by10:00 am. Ima! That was the name I grew up to identify you with, and it stuck. Everyone called you by your first name, ‘Ima’, which means love. You were one special woman - the epitome of love and goodness. And the loss of you is felt deeply by many, even though you lived a full life. For the past few months, you bravely fought through illness due to ageing. You strive to live. And even though we all knew it was more or less time for you to exit this earth, we made all attempts to prolong your life more. Seeing you grow weaker and weaker in those last days was extremely difficult, but still, we give God the glory for a life well spent. Yes! You lived to the ripe age. God must have given you to us to liven up our lives, to make our lives more complete, and to make us well-rounded and better human beings. Ima, you played a big part in my childhood, and I can remember so many times, as a child, sitting in your kitchen and eating the dishes you prepared with a special love. Being your very first granddaughter, you dotted so much on me, even though you had many more afterward. I can remember the many times you held me on your lap and hand-fed me as a grown child. And then you will call me pet names that were rarely understood by me, one of which was, “Andiyene ama.” How sweet it sounded each time you called me by that name, especially. You taught me a lot about love, generosity, sacrifice and the meaning of family. You were never just my grandmother but my guardian, my friend, and my inspiration. Even in adulthood, I felt more comfortable spending time with you than anyone else.

Ima Johnson Udo

“I will miss you, grandmother, but your spirit and strength live on in each of us and the lives you touched with the love, strength, wisdom, and beauty of your soul. You truly were a one-in-amillion grandma.” Born in September 1920 to the family of Oku Inam Udomkpong Abasietor of Ikot Udo Etor and Late Madam Ufon Umana Udomkpong of Ikot Obio Ama, all in Abiakpo, Otoro Abak in Akwa Ibom State, late Ima Johnson Udo was the third daughter to the father and first daughter to the mother. Ima, from birth, was very intelligent with good character. Although female education was not pronounced nor regarded during her days, as a daughter

of a great royal family, she was trained and educated domestically. Knowing the value of Western Education and having realised being cheated by the custom of her days, Ima considered it a challenge to prepare a workable and solid foundation of Western education for all her children. Late Ima Ufon, as she was fondly called by many, was a delightful great trader, farmer and community midwife. As a midwife, she attended many seminars organised by the government for midwives. The community midwife was only a hobby since she did not make it a profit-oriented business as she usually only collected a stick of bar soap and a bottle of kerosene at childbirth from the newborns’ parents, and even spent for others that could not afford and also maintained the newborns and the mothers for days or weeks before being discharged. Ima had immortal love

for Midwifery while her major occupation was farming and trading, which kept her on top of other people around her time. She trained many maids who had the heart to live with her. and are today thanking God for having been trained by such a heroine. Late Ima worked with an example, knowing quite well that setting a good example is a far better way to spread ideas than through the force of arms. Ima faced all challenges in life with happiness but developed zero tolerance for laziness. Ima’s beauty, hard work and respect attracted many suitors. Among them, she chose and married the Late Chief Johnson Udoudo Akpan UmoAden in late 1949. The marriage was blessed with seven children, though death snatched one at a very tender age. The six left behind are all available to bid her farewell today. She was a very caring, supportive and disciplined wife and mother. She was a member of the Church of Christ, where she worshipped till her departure from earth. Late Ima’s charity and service to humanity had no bounds. She was a pacesetter and had lived a life of service, impacting many lives positively in several decades of active social participation and public service. This made her a social pathfinder, leader of leaders and legend in her lifetime. She hated laziness and had no space for dull moments or lies. Ima had all the favour of God, and she flowed progressively in all fields of endeavour until she had pains in her joints that could not allow her to walk a distance. On March 22, by 8:00 pm, she had devotion with family members and a brief discussion with her children before peacefully sleeping in the Lord by 8:30 pm. She left behind her six biological children and many relatives, adopted children, sisters, brothers, grandchildren, great-grandchildren, son and daughters-in-law, nephews, nieces, and other relatives. I will miss you, grandmother, but your spirit and strength live on in each of us and the lives you touched with the love, strength, wisdom, and beauty of your soul. You truly were a one-in-a-million grandma. Rest in peace, my Ima! We will never forget you, and we will love you forever.

WEDNESDAY NOVEMBER 16, 2022 ˾ T H I S D AY

NEWS

UNVEILING A NEW PRODUCT…

L-R: Marketing Manager, Solpia Nigeria Limited, Mrs. Grace Ejikeme; Managing Director, Universal Haircare Limited, Mrs. Oseni Omolewa; Sales Manager, Solpia Nigeria Limited, Mr. Murphy Alaka, and Chief Executive Officer, Funky Signature, Mrs. Oluwafunke Giwa-Ajose, at the media briefing on introduction of the new X-Pression Ruwa braid by Solpia Nigeria Limited in Lagos… recently ETOP UKUTT

House Alleges Oil Companies Operating in Nigeria without CAFA Certificate Invites Shell, Total, others over fraud allegation

Udora OrizuinAbuja The House of Representatives adhoc committee investigating the Joint Venture (JV) businesses and Production Sharing Contracts (PSCs) of the Nigerian National Petroleum Company Limited (NNPCL) has said that most oil companies in Nigeria were operating without Certificate of Acceptance on Fixed Assets (CAFA). The lawmakers claimed they

were operating without the CAFA certificate issued by the Ministry of Trade and Investment to legalise their operations. Chairman of the Committee, Hon. Abubakar Fulata, who made the disclosure yesterday at the resumed investigative public hearing of the committee, stated that most of them were making claims of capital allowance from the government without the certificate and as such may be compelled to make necessary refund to the

Ugwuanyi Inaugurates Enugu PDP Campaign Organisation

Governor Ifeanyi Ugwuanyi of Enugu State yesterday said that the state chapter of the Peoples Democratic Party (PDP) has constituted a robust campaign organization. The council is populated at different strata by battle-tested, competent and experienced politicians who will ensure that all candidates of the party achieve early and comfortable win in the 2023 polls. Speaking while inaugurating the PDP Campaign Organisation in Enugu State under the leadership of Chief Ikeje Asogwa, a former State Chairman of the party, as the Director General (DG), Gov. Ugwuanyi congratulated the DG

and members of the organisation selected for the onerous task, reminding them and all teeming members of the PDP that “we are in this together.” The governor, who harped on grassroots’ campaign and mobilisation, stressed that “we must campaign for our party in our political wards and communities as politics is indeed local. When we win all the polling units in our ward, our ward is won; when we win all the wards in our local government area, our local government area is won; when we win all our local government areas, our state is finally won.”

government coffers. Fulata also fingered Shell, Chevron, Agip, Total, other oil companies in a malfeasance amounting to billions of dollars. While reeling out the names of the affected oil companies at the hearing, he said that they must appear before the committee to

clear the allegations. He also said that tax evasion by the oil companies was central to the committee’s investigation which covered a period of 32 years. He said: “All companies in Nigeria do not have the CAFA certificates and they are enjoying capital allowance amounting to

millions of dollars. Things they can’t do in their country they are doing in Nigeria. Unless you clear the malfeasance of this allowance, the committee would be compelled by the relevant agency to recover this money. I will like to urge the stakeholders in this investigation to appear as a matter of necessity to

defend themselves against flagrant violation of Nigeria’s tax laws. For example, Total is to appear with evidence to defend itself against a malfeasance of $5.3 billion, in respect of OML 130. Total is also to appear to defend itself against malfeasance of $7.3 billion in respect of OML 130 PSC.

Ahead of 2023, Editors Resolve to Put Political Actors on their Toes The Nigerian Guild of Editors (NGE) has said that the media has a greater stake in promoting the cause of democracy by ensuring that political actors are put on their toes. Also, in the face of growing divisive tendencies by state and non-state actors, the umbrella of all the editors in Nigeria also advised the media to rise to arrest this drift in order to prevent the nation from

being torn to shreds. These were contained in a communique of the 18th All Nigeria Editors Conference (ANEC) with a theme: “Political Landscape, Credible Elections and The Role of Editors, organised by the editors and held in Owerri, Imo State, between November 9 and 13, 2022 and signed by NGE President, Mustapha Isah and the General Secretary, Iyobosa

Uwugiaren. Atotal of 320 editors representing print, broadcast and online media across the country attended the conference. Noting that the media has a responsibility to ensure that political actors abide by issue based campaigns, the editors said there is the urgent need by the media to play down on reports that tend to exacerbate divisive tendencies as

part of the process of promoting integration of the different peoples of Nigeria. ‘’The media should unequivocally set the agenda of discourse to prevent mischief makers from holding sway. Journalists must ensure that those who seek to lead the people at different levels are properly grilled in order to present the people with informed choices.

Nigeria Targets $3bn Annually from Hibiscus Trade with Mexico Mohammad Mahmood Abubakar, Nigeria were contaminated with relationship among other steps Gilbert Ekugbe The federal government has stated that Nigeria would earn over $3 billion annually as soon as it renews its hibiscus export partnership deal with Mexico in January, 2023. Nigeria’s Ambassador to Mexico, Adejare Bello, stated this at the signing ceremony of a bilateral agreement after the Minister of Agriculture and Rural Development,

who was represented by the Comptroller General ,Nigerian Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe. According to him, Nigeria had maintained a good trade relationship with Mexico in the exportation of hibiscus until 2017 when the relationship was suspended upon discovery that some containers of hibiscus flowers brought from

pests. The minister said during the period, Nigeria raked in over $600 million annually before the exportation was suspended by the Mexican authorities. Bello disclosed that upon his resumption as the Nigerian envoy to Mexico in June last year, he immediately swung into action aimed at resuscitating the

he had taken to take the trade relationship that had existed between both countries to the next level. According to industry players, hibiscus is a major income earner for the country, with Mexico importing about 85 per cent of Nigeria hibiscus, saying that despite its many uses and potential, many do not know much about it.

Edo to Add Two Condensate Police Arrest Prophet for Allegedly Defiling Two Sisters two under age sisters who were November 2022, following a responsible for the pregnancy, it James Sowole in Abeokuta Refineries, Says Obaseki members of his church. complaint lodged at Ajuwon was discovered that the prophet The Edo State Governor, Mr. of hydrocarbons.” Godwin Obaseki, is relishing the state’s new status as Nigeria’s hub for hydrocarbons, as he revealed that a new investor has indicated interest to build two condensate refineries in the state, growing the number of oil refineries in the state to four. The governor, who disclosed this at the Alaghodaro 2022 Investment Summit, noted that the state has been transformed into Nigeria’s most viable investment destination. He said: “There are two fully built modular refineries in Edo State. One with 10,000 barrels per day (bpd) capacity and another with 5,000bpd. As I speak today, another investor has come in trying to finalise agreements and pre-work for two condensate refineries in Edo State. That is just in the area

On the other notable investments in the state that were attracted in the last six years, he said: “We have allocated land and work has started in terms of nurseries for oil palm developments in excess of 60,000 hectares all within a two-year period. “The environment has continued to improve and the opportunities continue to be there. I have a group of investors from Asia who have built their own industrial park. This was built in the last four years. The park hosts about 12 companies. They produce everything from glass – we have the largest flagship glass company in West Africa in this city – to MDF woods, to doors, roofing sheets and iron, among others.”

Men of the Ogun State Police Command, have arrested a 30-year-old prophet of Cherubim & Seraphim Church Ajuwon, in Ifo Local Government Area of Ogun State, Prophet Joseph Ogundeji for allegedly defiling

The arrest of the suspect, was disclosed by the Police Public Relations Officer (PPRO), for the command, Mr. Abimbola Oyeyemi in a statement. Oyeyemi said the suspect was arrested on the 11th of

Divisional headquarters by the father of the two underage girls. The girls’ father was said to have reported that she discovered that his 16 years old daughter is pregnant, and when he inquired to know who is

is the one who impregnated her. He said: “Upon the report, the Divisional Police Division (DPO) Ajuwon Division, Mr Andrew Akinseye detailed his detectives to effect the arrest of the randy prophet.

NASENI Calls for Review of Entrepreneurship Curriculum in Higher Institutions The Executive Vice Chairman (EVC)/ Chief Executive of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Haruna, yesterday called on the National Universities Commission (NUC), the National Board for Technical Education(NBTE) and the National Commission for Colleges of Education (NCCE)

to review the curriculum for Entrepreneurship courses as part of efforts to address the issue of unemployment of graduates. Haruna made the call at the groundbreaking of the permanent site of NASENI Skill Acquisition Centre in Gwantu Kurmi in Sanga Local Government Area of Kaduna State. He said graduates are jobless because of misalignment

between products of our tertiary institutions and the limited job market, noting that the ongoing building of skill acquisition centres nationwide was aimed at tackling youth unemployment and industrial development. He said: “May I use using this opportunity to reiterate and call on the National Universities Commission (NUC), the National Board for Technical Education

(NBTE) and the National Commission for Colleges of Education (NCCE) to overhaul the curriculum used in teaching Entrepreneurship courses. “Most tertiary institutions in Nigeria have no qualified lecturers and enabling environment to teach entrepreneurship. Entrepreneurship is a practical course taught only by practicing entrepreneurs.

WEDNESDAY NOVEMBER 16, 2022 ˾ T H I S D AY

NEWSXTRA

DISCUSSING YOUTHS’ SKILLS ACQUISITION...

L-R: Uchu Fadan Ninzo, Alhaji Umar Musa; Overseer, Etum Gwantu, Very Rev (Dr) Joel Galadima; Agom Fadan Ayu, Alhaji Halidu Ibrahim Ayu, and the Executive Vice Chairman/ Chief Executive of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Haruna, at the groundbreaking of the permanent site of NASENI Skill Acquisition Centre in Gwantu Kurmi, Kaduna State… yesterday

Strike: Court to Hear ASUU’s Objection to FG’s Suit December 13 UNILAG lecturers stage protest over pro-rata salary

Alex Enumah in Abuja and Funmi Ogundare

The Abuja Division of the National Industrial Court has fixed December 13, for hearing of the Notice of Preliminary Objection (NPO) filed by

the Academic Staff Union of Universities (ASUU) against the federal government’s suit on the suspended industrial action of the universities lecturers. Presiding judge and President of the National Industrial Court of Nigeria (NICN), Justice

Benedict Kanyip, fixed the date yesterday, after parties in the suit regularised their processes. At the resumed hearing yesterday, counsel to the federal government (claimants), James U. K. Igwe, informed the court that his client has filed processes

challenging the preliminary objection of ASUU to the substantive suit on its suspended indefinite strike. Recall that based on a referral made to the NICN by the Minister of Labour and Employment, Chris Ngige,

the vacation judge, Justice Polycarp Hamman, earlier issued an interlocutory order, restraining members of ASUU from continuing with their indefinite strike. The order in suit no: NICN/ ABJ/270/2022 was upheld by

the Court of Appeal, Abuja Division, which also ordered ASUU to immediately enter their defence on the substantive suit, as ordered by Justice Hamman, before remitting the matter back to the President of the NICN.

Group Seeks to Tackle Voter Akpabio to Challenge Nullification of His Candidacy at Apex Court Apathy with Vote023 Campaign Ugo Aliogo The Founder of Emergent Labs, Emeka Mba, supported by Angela Ochu-Baiye, a social entrepreneur and Chief Executive Officer (CEO) of Inspired by Jela, has launched an initiative tagged ‘Vote023’ to drive Nigerians’ consciousness towards civic responsibility. The initiative, which was launched in Lagos, is a nonpartisan incentive-driven voice call campaign. It aimed at influencing behaviour and driving action by

providing compelling reasons to participate and show Nigerians that the future of the country was primarily in their decision to become active contributors in the electoral process. Mba explained that: “Nigerians who do not participate in the electoral process have legitimate reasons for not participating. While most believe, rightly or wrongly, that results are predetermined and their votes do not count, others pull back because of personal safety and security reasons.

FCT Fire Service Salvages 85 Lives, N4bn Property in Nine Months Olawale Ajimotokan in Abuja The Federal Capital Territory (FCT) Fire Service has saved 85 lives and property valued at over N4 billion from fire incidences in Abuja from January to September 2022. The acting Director, FCT Fire Service, Sani Saidu, disclosed this feat yesterday in Abuja. However, he noted that the figure was low when compared to 190 lives and over N6 billion worth of property saved from fire incidences in 2021. Saidu attributed the reduction

in the lives and property saved from fire incidences in 2022 to intense sensitisation by the Fire Protection Unit across all the 15 fire stations in Abuja. He said the agency received 570 fire calls and was able to save 190 lives in 2021, and in 2022, it received 388 calls and rescued 40. The director also revealed that there were over 32 fire fighters, ambulances, and water tenders working in 15 active fire stations spread over the city centre and the local councils.

Ogun Gov Extols Late Prof Salako’s Contribution to Healthcare

RebeccaEjifoma

The Governor of Ogun State, Mr. Dapo Abiodun, has described the late Emeritus Professor of Pharmacology, Professor Lateef Salako, as a blessing to the nation’s healthcare system because of his indelible footprints on the sand of time. Abiodun made this remark at the memorial lecture of the late Salako on the theme: “The Science of Pharmacology in Health Care:

The Nigerian Scene.” He acknowledged that Salako, who passed on in 2017, was a physician of international repute. “His quest for knowledge, love for mankind and desire to be a thorough professional took him around the world, thus making a positive impact on humanity.” According to the governor, the memorial is a viable platform not only to celebrate Salako’s fulfilled life but also his contributions to humanity and the course of mankind.

Former Minister of Niger Delta Affairs, Godswill Akpabio, has disclosed plans to approach the Supreme Court to seek redress for the nullification of his election as All Progressives Congress (APC) candidate for Akwa Ibom Northwest in the 2023 poll. A three-man panel of the Court of Appeal sitting in Abuja had yesterday removed Akpabio as senatorial candidate of APC

for the senatorial district Akwa Ibom northwest and ordered the Independent National Electoral Commission (INEC) to recognise Mr. Udom Ekpoudom as the authentic candidate for the senatorial district. Akpabio said in a statement issued in Uyo on Tuesday that he had received a copy of the judgement adding that his lawyers, based on his advice, had scrutinised

it for the purpose of seeking legal redress. “My attention has been drawn to the judgement delivered by the Court of Appeal, Abuja Division, directing INEC to delist my name from its list as the APC senatorial candidate for Akwa Ibom northwest senatorial district in the 2023 election. “It is instructive to mention that I was not a party in the said appeal,

though orders were made against me and my interest. “Whilst awaiting a copy of the said judgment to be made available to me and any other interested party, it is important to state that I am a lawyer by training and a law-abiding citizen of this country and I am bound by our laws and judgments emanating from our courts including the one under reference.

Kogi Wins World Bank’s Fiscal Transparency, Revenue Mobilisation Awards Kogi State has won the World Bank’s awards of Excellence in three categories, namely Fiscal Transparency and Accountability, Debt Sustainability and Domestic Revenue Mobilisation. The awards were conferred on Kogi State at the Federal Government of Nigeria/World Bank States Fiscal Transparency, Accountability and

Sustainability (SFTAS) Dinner with Governors/Award Night, held in on Monday evening. The objective of the World Bank’s State Fiscal Transparency, Accountability and Sustainability Program is to promote focus and attention of Nigerian States towards improvement of their PFM systems, processes and institutions, a statement on Tuesday, signed by

the Commissioner for Information and Communications in Kogi State, Kingsley Fanwo, stated. The Auditor-General of Kogi State, Yakubu Okala, who spoke to journalists after the award ceremony attributed the success of the state in the areas of fiscal transparency and accountability to self-discipline, as well as the institution of a transparent

and accountable governance system by Governor Yahaya Bello from the inception of his administration. “The state is blessed with an incorruptible governor who also provides leadership from all fronts, a professional to the core that has surrounded himself only with persons that have the capacity to deliver.

Confusion as National Assembly Clerk Begins Pre-retirement Leave Sunday Aborisade in Abuja

The sudden exit of the outgoing Clerk to the National Assembly, Olatunde Ojo, from office on Monday night, had created confusion and vacuum in the country’s apex legislative institution. Ojo proceeded on a three

months’ Pre-retirement Leave effective from Monday November 14 2022 following a directive from the National Assembly Service Commission. He was expected to hand over to the most senior official next to him, who would be in acting capacity until a substantive CNA would be named.

This was confirmed by a senior official at the NASC yesterday. The source said: “The letter given to outgoing CNA asks him to handover to the next most senior official in the National Assembly management. “From our records at NASC, those in the same cadre as Secretaries on same Consolidated

Salary Scales are, Magaji Sani Tambuwal; Felix Orumwense and Henrietta Aimua - Ehikioya.” When contacted on the issue, the Director of Information in the National Assembly Management, Mr. Rawlins Agada, said there was no official communication from the outgoing CNA to that effect.

Campaign Rallies:slated Delta APC Raisesbeen theclosed Alarm over Closure of Venue for next Saturday. by the Chairman Stadium, the venue of its Sylvester Idowu in Warri The Delta State All Progressives Congress (APC) has raised the alarm over an alleged attempt by the Peoples Democratic Party (PDP) to frustrate its planned presidential and flag-off of the state campaign

The Director of Communications and Media Strategy of the APC campaign organisation, Ima Niboro, in a statement issued yesterday alleged that some roads leading to the Warri stadium, venue of its planned rallies, have

of Warri Local Government Area, Dr. Michael Tidi. He declared: “The All Progressives Congress (APC) campaign organisation for Delta State condemned the closure of the routes leading to and from the Warri Township

presidential campaign rally and the flag-off of its state campaign, slated for next Saturday.” Niboro frowned at what he described as “perfidious road closures aimed at stalling Saturday’s grand events.”

Foundation Donates Relief Materials to Support Bayelsa Flood Victims SundayOkobi The Azeez Amida Foundation, a brainchild of the Nigerian author and business executive, Azeez Amida, has partnered the support initiative of Nigerian artist, Timi Dakolo, to provide relief aids to

50,000 victims of floods in Bayelsa State. The recent flooding in Nigeria, which the BBC has described as an overwhelming disaster, is the worst flooding Nigeria has experienced in a decade. The floods, which began in earlier October, have killed over

600 people, displaced 1.3 million people, destroyed more than 200,000 homes, as well as a large expanse of farmland with several property lost. According to the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq,

the floods happened because many states were not adequately prepared for the disaster despite warnings. Therefore, as part of its drive, mission, and objectives to alleviate hunger and poverty in Africa, the Azeez Amida Foundation has donated to support the victims.

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Nigeria’s Ambassador to Portugal, His Excellency Alex Kefas, (Middle) with the Embassy staﬀ visited Super Eagles after training yesterday in Lisbon.

Full House in Lisbon as Super Eagles Dare Ronaldo’s Portugal Duro Ikhazuagbe Apart from Napoli forward, Victor Osimhen, who is believed to have skipped the international friendly with Portugal, Super Eagles Head Coach, José Santos Peseiro, had the full complement of invited players for a comprehensive training session

yesterday evening in Lisbon. Portugal and Nigeria will do battle in a fiery international friendly in Lisbon on Thursday. In camp in Lisbon are goalkeepers Francis Uzoho, Maduka Okoye and Adebayo Adeleye while the defenders on ground include; William Troost-Ekong, Chidozie

Awaziem, Kevin Akpoguma, Calvin Bassey, Tyronne Ebuehi, Bruno Onyemaechi, Bright Osayi-Samuel and Ebube Duru. Leicester City man, Wilfred Ndidi is leading the pack of midfielders that includes, Oghenekaro Etebo, Frank Onyeka, Alex Iwobi and Joseph Ayodele-Aribo as they

set to do battle with Cristiano Ronaldo and his Portuguese teammates. There are also forwards Moses Simon, Cyriel Dessers, Terem Moffi, Paul Onuachu, Emmanuel Dennis and Ademola Lookman. Forward Samuel Chukwueze was the last to arrive camp on Tuesday evening.

Thursday’s encounter at the 50,000 -capacity Estádio José Alvalade in Lisbon is the first-ever full international between both countries, and it promises fireworks with Portugal heading to the FIFA World Cup finals in Qatar the following day and Nigeria eager to blood a corp of new frontliners after narrowly failing to make the train to Qatar. With top scorer Osimhen out on excuse of injury, Peseiro can

still call on on-fire Belgiumbased Onuachu, the nifty Dessers, dependable Moses Simon, France-based Moffi and the Italy-based winger Lookman to do the damage. Portugal, 1966 FIFA World Cup bronze medallists and champions of Europe six years ago, will no doubt roll out their full arsenal, including five-time Ballon D’Or winner Cristiano Ronaldo - unarguably one of the best to have played the game.

Nigeria’s Ambassador to Portugal, His Excellency Alex Kefas, visited Super Eagles players after training yesterday in Lisbon. He urged the team to beat Cristiano Ronaldo and his Portuguese colleague in their last pre-World Cup friendly before kicking off their campaign in Qatar next week. In his reply, Captain of the

team, William Troost-Ekong, thanked the envoy for the visit and pledged the resolve of Eagles to go for victory in the international friendly. Apart from Victor Osimhen who is believed to have skipped the friendly for whatever reason, all the other 23 players were at the training ahead of the A-list friendly on Thursday in Lisbon.

Confirmed Sadio Mane to Miss Ambassador to Portugal Senegal’s First Game in Qatar ...Nigeria’s Urges Eagles to Win Tomorrow Sadio Mane will miss Senegal's "first games" at the World Cup because of a leg injury, an official from the country's football federation confirmed yesterday in Doha. The Bayern Munich forward was named in the Teranga Lions squad for Qatar despite being forced off in a club game last week. The German champions said the 30-year-old had an injury

"to his right fibula", but Senegal coach Aliou Cisse said Mane does not need an operation. The West Africans begin their Group A campaign against the Netherlands on Monday, with games against hosts Qatar (25 November) and Ecuador (29 November) to follow. "We will have to rely on playing the first games without Sadio and win without Sadio," Senegal football federation (FSF)

board member Abdoulaye Sow told AP. "No-one would have wanted it, but that's what's happened to us." Sow added Senegal should "not whine too much" about the absence of the two-time African Footballer of the Year. Mane is Senegal's talisman, having scored the winning penalty when the Teranga Lions became continental

champions for the first time in February, defeating Egypt in a shoot-out in the Africa Cup of Nations final. Within two months Mane had repeated the feat, netting the decisive spot-kick as Senegal beat Egypt - in a game that again pitted him against then Liverpool team-mate Mohammed Salah - on penalties in a play-off to qualify for Qatar.

Coaches’ Association, FCAAN, Winners Emerge in DOGFA Football Tournament Hires MatchRoom as PR Agency Oluchi Chibuzor

Determined to boost brand awareness and corporate profile, the innovative Football Coaches Association of Nigeria (FCAAN), has appointed leading Lagos-based Sports PR and Sponsorship consultancy, MatchRoom Sports and Media Limited, as its Public Relations agency. Licensed by the Nigeria Football Association (NFF) to conduct coaching education in the country, FCAAN is the leading coaching organization in Africa dedicated to provid-

ing the best football coaching courses to football coaches. Headquartered in the United States of America, FCAAN is led by Dr. Terry Babatunde Eguaoje, who serves as president. Speaking on this development, Eguaoje, applauded MatchRoom for its professionalism and creativity. He said: "We are proud to announce our new relationship with MatchRoom Sports and Media. With over two decades experience, MatchRoom has shown mastery of the sports

industry, not only in Nigeria, but the African continent. "We’re excited to partner them as we use PR to grow coaches education across the country and the African continent." Led by renowned Sports PR practitioner and Brand devotee, Ojeikere Aikhoje, MatchRoom will develop proactive communication strategies as well as brand activations for FCAAN. MatchRoom presently serves as PR Agency to several brands in Nigeria’s Sports Industry.

Optima Energy Resources emerged Champions of the second edition of the Downstream Oil and Gas Football Association (DOGFA) competition after defeating Prudent Energy and Services Limited 3-0. In the third place clash between Prudent group and Coolspring Energies Limited, Coolspring won 3-1, while the final clash saw AZ losing 2-1 to Optima to become champions. Speaking with THISDAY after the tournament in Lagos, the Chairman of the Governing Council of DOGFA, Mr.

Augustine Anyanna said the mental health of the workers in the sector remains priority even beyond the games. He maintained that the games would afford respective teams the opportunity to forge friendships, teamwork and develop collaborative skills among workers that represented their various organisations. According to him, “the downstream oil and gas football tournament was introduced last year. Then it was a group of concerned staff who came together to enable workers in the industry to meet as a team. “As at that time, we were about seven or six teams that

participated without structures and council representation. “But now, we have council members. With this competition we will get to know ourselves very well, have collaboration and in the spirit of sponsorship.” The Treasurer of the organisation, Foluso Adeyemi, said the tournament will boost the mental health of various participating companies. “We believe this competition will help the mental health of our colleagues which is the aim of the games. We workers are mentally alert, they will give their best and collaborate across the industry.”

Wednesday, November 16, 2022

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MISSILE CJN to Tribunal Judges “I will not condone any act of recklessness, abuse of power and public trust. This is a rare privilege and you must give a good account of yourselves. There is virtually nothing that has not been seen or heard before, but you should be ready to see and hear more, especially as you begin to adjudicate on election matters in 2023” - Chief Justice of Nigeria Olukayode Ariwoola admonishing members of the Election Petition Tribunals.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Good Economics for 2023

irtually all the political parties and their presidential candidates have promised working towards economic growth if elected in the 2023 election. Expanding the Gross Domestic Product (GDP) is an objective that is fairly shared by all those seeking power. Incidentally, Finance Minister Zainab Ahmed admitted at the 28th Nigerian Economic Summit that even in the period of economic growth the impact of the material boom has not always been felt by the poor at the bottom of the socio-economic pyramid. Interestingly, while NESG is already looking towards 2023 and beyond, the incumbent federal government is focussed on the urgent economic questions. President Muhammadu Buhari, who was represented by Vice President Osinbajo at the event, spoke about the need to reduce inflation because it’s “both a tax on the poor and disrupts long-term growth”. The President also spoke about the imperative of boosting local production, value-addition, and supply, while managing the demand for foreign exchange in a transparent way to engender confidence. The Nigerian Economic Summit Group (NESG) has fittingly framed the theme of this year’s summit as follows: “2023 and Beyond: Priorities for Shared Prosperity.” And in an appropriate agenda-setting tone, the chairman of NESG, Asue Ighodalo, proposed that the agenda of the next government (that would be in place in seven months from now) should embody some items. Ighodalo identified the following issues: macro-economic management, a new security architecture; rejigging and rebuilding national institutions; job creation policies; accelerated human capital development; social protection; effective response to humanitarian crisis; and heightened infrastructure development. Hardly would any policy analyst disagree with Ighodalo when he said: “Anyone of our candidates who seeks the office of president and vice president, who does not subscribe to these consensus issues, does not clearly understand the problems facing us as a country, has not thought about how these problems must be dealt with, and cannot have the capacity and understanding to lead this country at this time.” Given the multidimensional nature of the crisis plaguing the land, all the issues listed by Ighodalo are central to governance. Essentially, Ighodalo advocated a consensus on development. Put in a broader context, in addition to the political parties and their candidates, the idea of a national consensus on development should be shared by other members of the socio-political and economic elite. Politicians and businessman are enamoured of the cliche that the private sector should be leading in the economy. Therefore, members of the private sector should also subscribe to this developmental consensus so as to achieve the outcome of the “The Nigeria We Want,” the focus of the opening session of the summit. This is one often- ignored lesson of the nation’s economic history. The private sector should play its assigned leading role by the current ruling class in a responsible manner so as to avoid a systemic collapse. Just one tragic economic story could illustrate this point. Fuel subsidy is today identified, as a matter of national consensus, a huge economic burden for the present administration and possibly the next government. Talking about the “Nigeria we want,” it is now little remembered that the administration of President Olusegun Obasanjo wanted to solve the problem definitively 21

Mrs. Zainab Ahmed years ago. Following a popular strike against fuel price hike by the Nigeria Labour Congress (NLC) under the leadership of Comrade Adams Oshiomhole, the Obasanjo administration issued more than 20 licences for those who claimed they wanted to build private refineries. That was in the spirit of the deregulation and liberalisation of the downstream of the petroleum industry. The argument then supported by the NESG in its documents was the strict application of market forces in matters of fuel distribution. Years later, no refinery was built by those members of the private sector who got these licences. Other members of the private in the banking sector preferred to finance importation of fuel instead of investing in refineries. Members of the other private sector were actors in this unfortunate economic play. If 25% of those who received licences at the time had been supported by banks to build refineries, perhaps the story of the downstream of the petroleum sector might be different today. The economic wisdom of building local refineries instead of fuel importation is never in dispute. Now, fuel subsidy has become a big economic incubus for the nation. The hope of the beginning of the end of this national dilemma now rests on the Dangote Refinery, which is expected to begin operation soon. What has happened to the privatisation of the generation and distribution in the electricity sector 17 years after the Power Sector Reform Act came into existence? This is another question about which the private sector should be self-critical. The point at issue is that the private sector should not only set agenda for the state while criticising the public sector, it must also discharge its own responsibility honestly. A good dose of self-criticism could be good for the private sector for improvement. It is also timely that the summit is looking at the priorities to ensure “shared prosperity.” But

what is really required in a regime of scandalous inequality is more than “shared prosperity.” The theme is silent on the rule and justice of distribution of this prosperity whenever it’s available. To tackle inequality, you need redistributive justice beyond merely the sharing of prosperity by the prosperous. Mere sharing based on unknown rules will not solve the problems of insecurity and social instability caused by, among other things, mass poverty and inequality. Therefore, those seeking power should make elements of socio-economic justice prominent on their agenda. Socio-economic justice should be emphasised because even amidst prosperity the haves may continue to have more while the have- nots would have less. This seems to be the point that the finance minister was alluding to in her speech at the summit. For instance, in a period of economic growth the rich may afford to increase their fleets of private jets, build more mansions and drink more choice wines. At the same time, the poor majority in the same economy may still be confined to the miserable lives of open defaecation, lack of potable water and hunger. So, to talk of shared prosperity could be euphemistic because of the hidden issues of social injustice which defines the present economic arrangement. The material reality

Those seeking power should make elements of socio-economic justice prominent on their agenda.

is that some of the issues listed by Ighodalo are unavoidable in a system that legitimises inequality. Well, in the last 28 years the activities of the NESG, as a great think tank, have been largely informed by neo-liberal economic thoughts. This national institution should, of course, be saluted for its perseverance and consistency in brewing policy ideas. Regrettably, however, the impact of their efforts has not been remarkable on economic management. That is why the NESG should consider the political economy approach instead of relying solely on its technical arguments on how problems could be solved. In other words, in its discussions the NESG should probably pay a greater attention to the interplay of forces among the economy, state and society. The lack of the political economy approach is evident in the nation’s recent history. The following story also explains this point. Under a brutal military dictator, General Sanni Abacha, the Vision 2010 was put together in 1996. The vision was for Nigeria to break the shackles of socio-economic underdevelopment and become a stable democracy within 14 years. The vision document acknowledged a “transition to democracy” in Nigeria during the period. As the experts worked assiduously on this lofty vision, the nation was virtually in a suspended animation. The polity was repressed and the society was under a reign of terror. Citizens were detained while some others were forced into exile. A notable businessman, Bashorun Moshood Abiola, won a presidential election in 1993. He was put in detention instead of the presidential villa while the vision was being crafted. A former head of state, General Olusegun Obasanjo, was among those in jail at the time. A few years later, Obasanjo was released following the death of the maximum ruler, Abacha. Obasanjo was subsequently elected as president. In Obasanjo’s eight years in office, the Vision 2010 document was largely treated as a heritage of the Abacha era. Instead of Vision 2010, Obasanjo’s administration came up with its own National Economic Empowerment and Development Strategy (NEEDS). The logic of the political economy approach is that the politics of any vision or development strategy should be ignored. So, what could be the good economics for 2023 and beyond? The duo of the 2019 Nobel Prize Winners in Economics, Abhijit V. Banerjee and Esther Duflo appear to have a suggestion in their book, Good Economics for Hard Times. The anti-poverty economists put it like this: “Economists have a tendency to adopt a notion of well-being that is often too narrow, some version of income or material consumption. And yet all of us need much more than that to have a fulfilling life: the respect of the community, the comforts of family and friends, dignity, lightness and pleasure… Restoring human dignity to its central place … sets off a profound rethinking of economic priorities and the ways in which societies care for their members , particularly when they are in need.” The Nobelists describe as bad economics, “the giveaways to the rich and the squeezing of the welfare programmes” in the course of policy-making. A consequence of the policies informed by neo-liberal economic thinking in over three decades is the total disregard for human dignity in economic management. Where lies the human dignity in the condition of the poor majority defined by hunger, ignorance and disease? In sum, the experts working on the competing agendas for 2023 should embrace the good economics that could be applied to tackle inequality and mass poverty.

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