WEDNESDAY 22TH NOVEMBER 2023 by THISDAY Newspapers Ltd

NUPRC Warns Against Plans to Frustrate Gas Flare Commercialisation Programme Meets producers to resolve issues with awardees

Emmanuel Addeh in Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC)

yesterday warned players in the oil and gas industry against frustrating the Nigerian Gas Flare Commercialisation Programme (NGFCP) which

aims to achieve zero routine burning of gas in the country. The Chief Executive of NUPRC, Mr Gbenga Komolafe, during a

meeting with chief executives of producers operating assets under the NGFCP in Abuja, stated that the programme must not be allowed to

fail, given the local and international attention it has attracted. Komolafe stated that he had received several complaints of the

producers refusing to engage the gas flare commercialisation awardees, Continued on page 12

Obi: Our Courts Are Now Courts of Favour, Procurement, Not Justice... Page 33 Wednesday 22 November, 2023 Vol 28. No 10451. Price: N250

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Falana: Contrary to Misconception, Appeal Court Upheld Kano Governor's Election... Page 36

Tinubu: With Stable Polity, Foreign Investments in Nigeria Now Secure

Says he was voted president because of his reform agenda Pledges to build, sustain stronger Nigeria-Germany relations $500m renewable energy, gas export pact signed Deji Elumoye in Berlin

President Bola Tinubu has assured

the German business community that with Nigeria’s stable political landscape, foreign investments into

the country have become secure. Speaking yesterday in Berlin, at the 10th German-Nigerian Business

Forum, Tinubu said with a resilient democracy, Nigeria was well-primed to attract foreign direct investments.

Praising the system of successful democratic transitions in Nigeria since the inception of the Fourth

Republic in 1999, Tinubu told Continued on page 12

CDS: B'Haram Terrorists Planned Attacks from Prison with Warders’ Connivance Says 73 unmanned forests taken over by bandits Calls for extradition of Simon Ekpa Rising cost of aviation fuel hindering war against terrorism, declares CAS We're operating in difficult environment, IG laments Afenifere urges Tinubu to issue executive order for creation of multi-level police Adedayo Akinwale in Abuja The Chief of Defence Staff (CDS), General Christopher Musa, has revealed that some recently arrested Boko Haram terrorists in the Northeast planned attacks from the prison in connivance with prison warders. Musa disclosed this yesterday, when he appeared before the House of Representatives, alongside the service chiefs and the Inspector General of Police (IGP). The CDS said about 73 unmanned forests had been taken over by bandits. He called for the extradition of Simon Ekpa, the self-acclaimed leader of the Indigenous People of Biafra (IPOB), from his operational base in Finland. Chief of Air Staff (CAS), Air Marshal Hassan Abubakar, decried the rising cost of aviation fuel, saying it is hindering the war against terrorism in the country. The IGP, Kayode Egbetokun, lamented that the police were Continued on page 12

10th Nigerian-German Business Forum in Berlin, Germany...

L-R: Investment Manager, Victoria Engels; Head, Universal Green Energy Access Programme, Michael Hoelter; Treasurer and Head, Wholesale Bank, Chuka Emerole; and Chairman, Union Bank of Nigeria, Farouk Gumel, after signing a partnership agreement on renewable energy with Universal Green Energy Access Programme (UGEAP), at the 10th Nigerian-German Business Forum held in Berlin, Germany… yesterday

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

NEWS

Revocation of licences to illegal mines operators...

L-R: Permanent secretary, Federal Ministry of Mines and Steel Development, Dr. Mary Ogbe; Minister of the Ministry, Dele Alake and the Director, Investment Promotion and Mineral Trade (IPMT), Ime PHOTO: KINGSLEY ADEBOYE Ekrikpo, during a press conference on the revocation of license to illegal mines operators, held at the ministry in Abuja... yesterday.

Kyari in Senate, Says Pipeline Vandalisation a National Calamity Says over 5,000km pipeline redundant

Sunday Aborisade in Abuja The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL) has described as national calamity the destruction of over 5,000 kilometers of oil pipelines by vandals across the country. The Chief Executive Officer of the NNPCL, Mele Kyari, stated this during an interactive session with the Senate Committee on Petroleum

( Downstream). He, however, assured Nigerians that the nation's four oil refineries would be made functional very soon . He said the problem of oil pipeline vandalism had been bedeviling the sector over the decades as the company had not been able to pump oil through pipeline from Warri to Benin within the last 22 years . Kyari said, "Over 5,000 kilometers oil pipelines in the country are not working As a result of pipeline

vandalism, 10 million litres of oil was lost from the volume pumped from Aba to Enugu at a time . "The company has been unable to pump oil from Warri to Benin within the last 22 years and cannot connect to Ore . "There is no amount of security measures that had not been taken to curb the crime without success, which to us in NNPCL , is substantially a national calamity," he said. He, however, said as a way out

, the company was embarking on massive replacement of the pipelines which aside being vandalised were old and obsolete . He explained further to the committee that deregulation of the oil sector and in particular, subsidy removal carried out in May this year , has turned NNPCL into a profitable company . According to him, before deregulation in 2018, the company made a loss of N802 billion but after deregulation in 2021, made an

excess profit of N687 billion. He added that while 67 million litres of oil was consumed per day during the era of subsidy regime, average of 55 million litres are being consumed on a daily basis now, just as the problem of smuggling the product across borders has become a thing of the past . The Chairman of the Committee, Senator Ifeanyi Ubah (APC Anambra South) and all the members responded separately to submissions made by the NNPCL boss that

proper dissection of challenges facing the sector would be better made in a retreat . But Senator Seriake Dickson ( PDP Bayelsa West ), told the NNPCL boss to look critically into the surveillance security contract the company was operating as regards non inclusion of some oil producing areas . "Some local government areas in Bayelsa State like Sagbama where i come from, are not covered by the contract with attendant consequences," he said.

Nigeria Needs Stable AGF Seeks Legal Framework for Public Power Supply to Attract Finance Reforms, Treasury Operation Foreign Investment John Shiklam in Kaduna The Director General, Textile Garment and Tailoring Employers, Hamma Kwajafa, has said Nigeria’s drive for foreign investments cannot succeed without critical infrastructure like electricity. Kwajafa, said this yesterday, in Kaduna, while addressing the 35th annual National Education Conference of the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN). He said the South African economy was doing better than Nigeria because of stable power supply. According to him, South Africa, with a population of just 60 million people, boasts 50,000 megawatts of electricity, while Nigeria, with a population of over 200 million people, was battling with 7,000 megawatts. "We say Nigeria is the giant of Africa, but infrastructure is our biggest challenge. Go to South Africa, they have 50,000 megawatts of electricity for a population of 60 million people. "We are 200 million in Nigeria, but only 7,00 megawatts. How can thKwajafaat work for the industry," he asked. Kwajafa said, "All dealers of textile materials now go to China to buy polyester fabrics, and in Nigeria, they are asking us to use backward integration; that we have

to buy cotton. "This polyester can be produced in Nigeria, but our refineries are not refining in Nigeria for us to get the raw material. "The refineries are exporting jobs. How can we have four refineries, and none is working? But Dangote could build a refinery. Why can’t our own work? It is nothing but corruption. "And we are having high petrol price. We need to occupy the refineries, NLC ought to go on strike to demand that refineries work, not when somebody is slapped. “We must fight to ensure that we have adequate infrastructures; this power must work for us. Without that, we cannot have new jobs and a prosperous economy." According to him, "the reason the dollar is growing higher every day against the naira is because we are not exporting. Instead, we are the highest importers of Champagne. "We are busy consuming what we don’t produce, giving others jobs, that cannot help us," he added. Also in his keynote address at the conference with the theme, "the Future of Work in the Nigeria Textile and Garment Industry," President of the Textile Workers’ Union, John Adaji, called on the federal government to take drastic steps to save the textile sector by tightening up of the nation’s borders.

Kicks against cash collection by agencies

James Emejo in Abuja The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, has said the office was drafting a bill to give legal backing to the Public Finance Management

(PFM) reform initiatives and the operations of the federation treasury. Speaking at the 2023 Federation Account Allocation Committee (FAAC) Retreat in Asaba, Delta State, the AGF noted that Finance Control and Management Act of

1958 which is currently the principal legislation in operation, had become obsolete and inadequate to support (PFM) reforms. She said when passed into law, the bill would repeal the Finance Control and Management Act 1958

FG Revokes 1,633 Mining Licences, Reads Riot Act to Illegal Miners

Folalumi Alaran in Abuja

The federal government yesterday announced the revocation of 1,633 mining licenses due to default in payment of stipulated service fees by operators. The Minister of Solid Minerals Development, Dr. Dele Alake made the announcement while addressing a press conference in his office in Abuja. He stated that the revocation became imperative following the expiration of a 30-day notice to defaulters, as stipulated in sections 11 and 12 of the Nigerian Mineral Mining Act (NMMA), 2007. "In compliance with the law, the Mining Cadastral Office (MCO) on October 4, 2023 began the process of revoking 2,213 titles. These included 795 exploration titles, 956 Small Scale Mining Licences, 364 Quarry licences,

and 98 Mining Leases. “ These were published in the federal government gazette number 178, volume 110 of October 10, 2023 with the notice of revocation for defaulting in the payment of annual service fee. "The mandatory 30 days expired on November 10, 2023. Only 580 title holders responded by settling their indebtedness. With this development, the MCO recommended the revocation of 1,633 mineral titles as follows: Exploration Licences, 536; Quarry Licences, 279; Small Scale Mining Licences, 787 and Mining Leases, 31. " In line with the powers conferred on me by the NMMA 2007, Section 5 (a), I have approved the revocation of the 1,633 titles. I hereby warn the previous holders of these titles to leave the relevant cadastre with immediate effect as

security agencies shall work with the mines inspectorate of the ministry to apprehend any defaulter found on any of the areas where titles have been revoked," Alake said. The minister further stated that efforts were ongoing to sanction other operators defaulting in payment of royalties, taxes and others, emphasising that revocation of operators short-changing government was an ongoing process which he noted will create space for serious prospective investors to come on stream. Responding to a question on illegal mining, Alake read the riot act to culprits, asserting that their days were numbered. He vowed that government would deal ruthlessly with those who refuse to turn a new leaf, restating the commitment of President Bola Tinubu to sanitise the mining sector.

and enact the Public Finance Management Bill which would provide legal framework for the operations of the treasury, institutionalise the public finance reforms, and regulate the management of public funds. Madein, who presented a paper on the Operations of the Federation Account, said the Federation Accounts Allocation Committee (FAAC) remained the highest decision-making body in terms of revenue sharing and that adequate checks and balances have been put in place to ensure accountability and transparency in the administration and disbursement of the federation account. She explained that although the federation account was maintained and operated by the Office of the Accountant-General of the Federation, all the states and relevant federal agencies are duly represented in all the institutions that are responsible for the administration and disbursement of the federation account. On revenue collection, Madein decried revenue collection in cash by revenue agencies, stating that this practice promotes leakages in revenue collection. In a statement issued by the Director of Press, OAGF, Bawa Mokwa, the AGF, therefore, advised revenue agencies to devise efficient revenue collection strategies to forestall leakages.

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BEHAVIOURAL CHANGE CONFERENCE AND EXHIBITION 2023...

L-R: Provost, Anti-Corruption Academy of Nigeria, Professor Tunde Babawale; Member Board of Directors, Akin Fadeyi Foundation Member, Barr.Tunde Adeoye; Former Chairman, Independent Corrupt Practices and other Related Offences Commission (ICPC)', Professor Bolaji Owasanoye; Africa Director, MacArthur Foundation, Dr. Kole Shettima; and Country Director, Development Alternative Photo: ENOCK REUBEN Incorporated , Dr. Joe Abah, during the Behavioural Change Conference and Exhibition 2023 in Abuja ... recently

VP’s Official Residence to Now Gulp N15bn, Says Wike

FCTA set up task force on land swap initiative Seeks Tinubu’s approval to make NIN requirement for C of O in FCT Declares he has saved N110bn for FCTA Olawale Ajimotokan in Abuja The FCT Minister, Nyesom Wike has disclosed that the official residence of the Vice President under construction would now cost N15 billion. He revealed this yesterday, at the inspection of the project which was awarded in 2010 to Messrs Julius Berger. Also yesterday, Wike disclosed he would seek the approval of President Bola Tinubu for the National Identification Number (NIN) to now be added to any Certificate of Occupancy (C of O)

that would be issued by the FCT Administration for business purpose However, Wike assured the construction company of immediate reimbursement for the work from the initial cost of N7.5 billion owing to the effect of inflation on the economy. He assured that he had received the approval of the President that funds would be made available before December for the completion of the hitherto abandoned project before May 29, 2024. “I have come to see the project and we have told the contractor that we will fund them very well

before the end of the month so that they will finish it. “What we are doing now is that we have submitted a supplementary budget for 2023, and Mr. President has approved to transmit it to the National Assembly. "We are asking that we should be allowed to spend N61 billion before the end 2024, because we have the money, and we want to use that money for specific projects, so that by May 29th these projects are completed. “I have discussed with the DG of the Sukuk Fund that as I speak

to you, we have over N70 billion to N100 billion we are trying to access, and we are going to attach it to specific projects. "For them, while I am interested in roads and bridges, we spoke to them that we have other projects like the Millennium Tower, that is going to change our entire landscape in terms of tourism and the rest of it, and they have agreed,” Wike said. The Director of Public Building, Federal Capital Development Authority, FCDA, Adebowale Ademo, disclosed that the project boasts of three different living rooms on the

Stakeholders Bemoan Poor Funding of Renewable Energy in Nigeria Emmanuel Addeh in Abuja Stakeholders in the clean energy space in Nigeria yesterday lamented lack of funding for major renewable energy projects in the country despite the global transition to low carbon power sources. At a conference in Abuja with the theme: "Transforming Energy Finance: Bridging Gaps and Building Opportunities,” which was organised by the Renewable Energy Association of Nigeria (REAN), the stakeholders stressed the need to pull the plug on Nigeria’s fast dwindling global fossil fuel reserves and look at the alternatives. The Chairman, House of Representatives Committee on Renewable Energy, Afam Ogene, who spoke at the event, stressed that science had shown that fossil fuels were some of the world’s, “friendly enemies." He said that their use should be re-examined. He said that the world was changing and that Nigeria should not be left behind in taking actions that would protect its environment. He explained that there was the need invest in technological developments to boost renewable sources of energy. “The global quest for safer, sustainable and renewable energy, is an indication that we all agree that there is a need for a new way of doing things. "Besides the need for clean

energy, there's also a growing conversation across board about sustainable development in every sphere of life, or sectors of corporate or governance structures. “Again, scientists and experts have predicted that we will deplete the earth's fossil fuel reserves in as few as 50 years, so, investing now in renewable energy is one way to ensure a cleaner, greener, and more sustainable future. “And with the fast dwindling global fossil fuel reserve and the increasing danger associated with it, especially as regards its impact on the environment and climate change, renewable energy is the future and Nigeria must step up and be more intentional in investing in the renewable energy sector and technologies,” he argued. As pioneer Chairman of the House of Representatives Committee on Renewables since the return of democracy in 1999, he explained that there was the need to move to something greener, safer and more sustainable. Ogene, stated that getting access to electricity remains a big challenge in Nigeria, raising the need for alternative energy sources to augment what the country currently has. “With diverse renewable energy resources available in Nigeria, I believe that if the enabling technology is developed and funded, renewable energy has the potential to bridge

the energy gap in Nigeria,” he noted. In a goodwill message, the Managing Director, Rural Electrification Agency (REA) Ahmad Salihijo, said the nation's off-grid, renewable energy space has grown at a fast pace in the last five years. “With the current estimates on the number of Nigerians without access to sustainable energy however, it is obvious that the sector needs more push from you and I. “The challenges we face are formidable, especially in addressing the resources needed to close the

energy gap across the nation. Yet, embedded within these challenges are opportunities for innovation, collaboration, and the creation of financial models that empower individuals and businesses alike,” he noted. Salihijo, who was represented by the Head, Project Management Unit (HPMU) of the Nigeria Electrification Project (NEP), Abba Aliyu, noted that beyond keeping the lights on, sustainable energy access was the key to sustainable development and inclusion.

ground floor, the vice president’s private room and conveniences in addition to provision for the vice president’s wife’s private lounge. He added that the building also has a chapel, a mosque, a dormitory for the security personnel and an entrance with the screening facility for guests that would be coming into the premises. Meanwhile the FCT minister has set up a taskforce to examine the land swap initiative which started in 2012, but was faced with setbacks, due to several factors. He said the initiative was reviewed because many stakeholders were raising a lot of concerns about it. The taskforce is headed by the Senior Special Assistant to the Minister on Lands, Urban and Regional Planning, Michael Chinda. It is expected to deliver results within two months. Meanwhile, Wike has disclosed that he would Tinubu's approval for the NIN to now be added to C of O that would be issued by the FCT Administration for business purpose. He stated this yesterday at a parley with estate developers in Abuja. The minister also said the era where three or more persons were allocated the same plot of land with bogus C of O were over. He also decried as unreasonable the monthly payment of N8.9 billion salary to FCTA, FCDA workers.

He also declared that all prospective applicants now wishing to obtain C of O in Abuja will now be expected to pay N5 million as processing fee for the title. After intensive appeal by the developers, he conceded, saying the payment could be made within four months after which the C of O could be handed over to the applicant. He expressed displeasure at the alarming rate at which fake C of O were given by FCT Administration as well as the worrying role of bad eggs in the system. Wike added that he had saved N110 billion for the FCT Administration in the last three months since he was appointed as minister. He disclosed that when he was governor of Rivers State, his land title in Abuja was revoked by the FCTA because he was in possession of a fake C of O issued by some unscrupulous officials of the FCTA and only realised the title was bogus after he had paid N57 million for the land. "Allocation of lands to three same persons will no longer be allowed. C of O enables you to do business. "When we take the right decision some people will be happy, some will not. We are ready for such a fight. "I will seek the president's permission to link any C of O to NIN number. The rich men will kick against it but anything that will help our people must be done.

Fiscal Responsibility Commission Harps on Prudent Debt Management

Hammed Shittu in Ilorin

The Fiscal Responsibility Commission, has urged governments at all levels to halt excessive borrowing but instead focus on internal fiscal reforms to execute it's programs and policy. Speaking in Ilorin, Kwara State, yesterday, the Head of the Directorate of Legal Investigation and Enforcement Charles Abana, stated that the development would go a long way in accelerating socio-economic and developmental projects in the country.

Abana, who spoke on the sideline of a one-day media-civil society roundtable on fiscal responsibility and debt management organised by the Order Paper Advocacy Initiative, emphasised the adverse effects of the country's current debt burden with 90 per cent of revenue being used for debt service. He said such actions hampers developmental initiatives and the citizens would bear the brunt. He stressed the need to align recurrent and capital expenditures, advocating for a balance or even higher allocation to capital projects.

Abana, also urged state governors to strictly adhere to the provisions of the Fiscal Responsibility Act to ensure responsible financial management. Earlier in his remarks, the Executive Director of Order Paper Advocacy Initiative, Oke Epia, said the roundtable, aimed to foster collaboration between the media and civil society to advocate for fiscal reforms in Kwara State and nationally. He explained that the roundtable sought to build sustainable synergies for promoting fiscal prudence,

particularly relevant as the 2024 budget is under consideration. Epia, who contextualised the roundtable within the ongoing dialogue on fiscal responsibility, emphasising the importance of addressing the state's debt levels, revenue mobilisation, and remittance gaps. "With the 2024 budget in focus, participants aimed to share perspectives and ideas on promoting fiscal prudence, aligning with citizens' interests as Governor Abdulrahman Abdulrasaq's administration begins its second tenure.

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NEWS

Manufacturing Equipment and Raw Materials expo...

L-R: Former President, Manufacturers Association of Nigeria (MAN), Mansur Ahmed; former Permanent Secretary, Ministry of Science and Technology, Abdullahi Aliyu; Consul General of People’s Republic of China in Lagos, Yan Yuqing; President, MAN, Francis Meshioye; and Representative of the Minister of Industry, Trade and Investment, Olumuyiwa Ajayi-Ade at the 2023 West Africa Largest PHOTO: SUNDAY ADIGUN Manufacturing Equipment and Raw Materials expo in Lagos …. yesterday

HIV Disease No Longer an Epidemic in Nigeria, Says NASCP

…As NCDC launches 5-strategic health security plan Onyebuchi Ezigbo in Abuja The National AIDS and STI Control Programme (NASCP), Tuesday, said that Nigeria has successfully reduced the threat of HIV disease in the country and that it is no longer an epidemic. This is sequel to a bid to fast track efforts at lowering rate of HIV disease transmission in the country by NASCP, in collaboration with PELTOM Global Services Ltd, Codix Pharma Limited involving roll out plans for training of healthcare personnel on the appropriate use of HIV 1and 2 Rapid Test Kit. Meanwhile, the Nigeria Centre for Disease Control and Prevention (NCDC) has launched its strategy and implementation plan for 2023 - 2027. The unveiling was done at its Health Security Partners’ meeting held in Abuja on Tuesday. NASCP said that the federal government has been able to implement a testing and treatment programme that has significantly brought the spread of HIV under control. Under the initiative with funding support from SD Biosensor, South Korea, NASCP will be conducting a 3-day National Training of Trainers (TOT) on WHO approved Standard Q HIV 1& 2 Rapid Test Kit in Nigeria. The training seeks to ensure the right and appropriate use of the product and also to monitor its performance and operational effectiveness on the field. Following the ToT, over 900 additional testers would be trained across

the 774 LGAs through a regional training in all the six geopolitical zones of Nigeria. Addressing journalists in Abuja on Tuesday, National Coordinator of NASCP, Dr. Ade Bashorun, said the training will start on Thurday, 23rd November, 2023, in Abuja. He said: "For us this is training is very important because we need to do everything possible to find out all the case of HIV in our country and after that we must also link them to treatment so that when they are linked to treatment and there are viral loads suppression and retention of treatment, the transmission in the country will be reduced. Increase in testing will also help us to reduce the transmission from mother to their children. "So the more we do the right thing in terms of testing, the more we reduce the risk of transmission. Now the interesting thing about what we are doing today, regarding the commencement of training for the Rapid test kit for HIV 1 and 2, is that it is an innovative programme which has not been embarked upon in the last 20 years in the country.” Bashorun said that the outcome of the training will help produce better results from the HIV testing across the country adding that NASCP is committed to ensuring that Nigeria gets the best in terms of equipment and use of the device to drastically reduce the health challenges caused by HIV. On the integrity and quality of the test kits, he said that all the

brands of rapid test kits deployed in Nigeria have passed through quality assessment trials by NAFDAC. Regarding the availability of the Rapid Test Kits, he said that (Cobi) is working in conjunction with Bio-censors to increase in-country production. "I can tell you categorically that the training is starting in the next few days. He restated the determination of the government ensure the eradication of new HIV transmission by 2030. NASCP boss urged people to endeavour to come out and take advantage of the roll out of the rapid test kits in order to know

their HIV status. When asked to assess the state of prevalence of HIV infection in Nigeria and the level of threat it poses to health of the people, the Coordinator said; "We have three stages of HIV disease outcomes; epidemic pandemic and endemic. For instance when HIV started it was an epidemic later it became a pandemic. "As things are now, it is endemic because we have been able to control its spread and we have been able to control the stigma attached to it. Now we have treatment that can control its spread and make the viral load not to rise or be

Energy and infrastructure conglomerate, Sahara Group, has stated its commitment to transform into a net zero business entity by 2060 as it continues to align operations to facilitate greener and cleaner energy solutions. The Director, Governance and Sustainability, Sahara Group, Ejiro Gray, disclosed this during the presentation of Sahara Group's 2022 Sustainability Report, titled, "Energising Innovative Solutions for Sustainable Development."

"We have initiated the development of our Energy Transition Plan, which outlines a comprehensive framework of short- to long-term energy transition actions, accompanied by our resolute commitment to reducing our operational carbon footprint,” Gray said, adding that it was Sahara Group’s aspiration to transition into a net zero business entity before or by the year 2060. "To this end, we aim to launch projects that will provide evidencebased insights regarding how to mitigate, reduce and eliminate our operating emissions, setting

“It also manifests our charge as an agency to advance the impact of health security interventions in Nigeria whilst being SASS (Strategic, Ambitious, working with Speed and at Scale). "In alignment with the presidential and ministerial agenda for health, the 2023-2027 strategy includes a digital transformation agenda complemented by aspirations for high-quality crosscutting public health informatics. The strategic plan seeks to sustain the strong vision for the NCDC underpinned by clearly defined goals and supported by well-articulated implementation and delivery plans.”

FG: Modular Refineries Will Address Nigeria's Energy Challenges Blessing Ibunge in Port Harcourt

The federal government has noted that the investment and operation of modular refinery would address energy challenges in the country. The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the assertion yesterday, during his visit alongside with the Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB) and others to Waltersmith Modular

Refinery at Ibigwe, Imo State. Speaking with journalists after inspecting the refinery, Lokpobiri said to ensure that there was sufficient supply of refined petroleum products for Nigerians consumption, President Bola Tinubu had directed him to take charge of the programme and rehabilitate the state owned refineries. He disclosed that since his assumption of office about three months ago, he had also visited the refineries in Port Harcourt, Kaduna and Warri.

Sahara Group Unveils 2060 Net Zero Plan to Drive Sustainability

Peter Uzoho

detected. So at that level, the HIV disease is now endemic because it has been controlled and is no longer threat and we intend to ensure that transmission is totally slowed down to the extent that there will no new infection," he said. Meanwhile, speaking during launching of the strategy and implementation plan for 2023-2027 document, the Director General of NCDC, Dr. Ifedayo Adetiba, said: "This newly launched strategy and implementation plan themed “Vision to Action” reflects our commitment to the ministerial agenda for the health sector which has health security as the fourth pillar.

ambitious yet achievable targets for operational efficiency. "As a global energy firm that plays a distinctive role in powering economic growth, we recognise the inherent responsibility we bear in contributing to the realisation of an equitable energy transition strategy," she said. Gray, added that the plan would cover Sahara Group's operations in upstream, midstream, downstream, power and infrastructure sectors in over 42 countries across Africa, Asia, Europe, and the Middle East. "As a foremost energy conglom-

erate invested in bringing energy to life responsibly, we consider our net zero plan as integral to the sustainability of our business and more importantly, our contribution to global efforts geared towards building a healthier, cleaner and more productive planet Earth for future generations," she said. Gray said Sahara Group conducted a thorough GHG (Greenhouse Gas) emissions audit across its businesses for the 2019-2021 period, establishing baseline data for scope 1 and 2 emissions.

The Minister of Petroleum who expressed satisfaction with the level of investment and development at the Waltersmith modular refinery, said, "The easiest way for us to address our energy problems is modular refineries." Addressing journalists at the refinery, Lokpobiri said "The success story you see here also had the component of NCDMB in collaboration with others and as a government we will do whatever we can do." He noted that, "The biggest challenge modular refineries may also have is feedstock, access to funding", adding that the federal government was handing the problems. "That is why BOI, NCDMB is also here to take this collaboration to the next level. "It is not enough for us to give those who have modular refinery licenses money, we need to identify those that have proven record of success. "Some people will take the money and divert it, but here we are physically seeing one that is functional and we have also seen the expansion of what is going on and so we will do whatever we can to support them, NCDMB," he added.

Speaking on the resumption of operation on the Port Harcourt refinery, the Minister expressed hope that by December this year, the first phase of the project would be completed. He said: "The NNPC team told me that the refinery will be ready by December but I went there I saw that they are still working. There are three phases in the Port Harcourt refinery, from the presentation made to me, the first phase will be ready by December." On his part, the Executive Secretary of NCDMB, Simbi Wabote, commended the level of investment at the refinery. He said over 600 million liters of petroleum products have left the refinery to various parts of the country. Wabote said "This was one of the first project that we have tried to catalyse and it's being a success story as you can see they have produced almost 600 million liters of various products from this refinery, about 20 trucks leave the refinery on a daily basis. You have gone round and you have see it's working." He added that, "not every investment that you participate that is successful. This is one of the successful investment we have done.

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House Approves 2024-2026 MTEF, Pegs Oil Price at $73.96, Exchange Rate at N700

Adedayo Akinwale in Abuja The House of Representatives yesterday approved the 2024-2026 Medium-term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The lawmakers also approved $73.96, $73.76 and $69.90 per barrel respectively as benchmark oil prices for daily crude oil production of 1.78 million bpd, 1.80 million bpd, and 1.81 million bpd for 2024, 2025 and 2026 respectively. The House gave its approval at the plenary after the report was laid by Hon. James Faleke. The House recommended that: "The benchmark oil price of USD$73.96, $73.76 and $69.90 per

barrel be approved for 2024, 2025, and 2026 respectively. "That the daily crude oil production of 1.78 million bpd, 1.80 million bpd, and 1.81 million bpd, for 2024, 2025, and 2026 respectively be approved subject to Nigerian National Petroleum Company Limited (NNPC) confirmation of actual and verifiable deliveries. "That the exchange rate of N700, N665.61 and N669.79 to US$1 proposed by the executive for the periods 2024–2026 be considered for approval with the federal government's vigorous drive to enhance local production (both oil and non-oil) for increased foreign reserve growth," it stated. The House further recommended

that all items locally produced should be banned outright from importation and customs tariffs amended accordingly. The House urged the Central Bank of Nigeria (CBN) to ensure that banks have access to FX to provide funds to importers and other users and to prevent patronage of the parallel market. In light of the federal government's response in terms of fiscal measures to stimulate the economy through significant investment in infrastructure, small enterprises and the agricultural sector, the House approved the Gross Domestic Product (GDP) growth rates of 3.76 per cent, 4.22 per cent, and 4.78 per cent in the years 2024, 2025, and 2026.

The Green Chamber also approved inflation rate of 21.40 per cent in 2024, 20.30 per cent in 2025, and 18.60 per cent in 2026. It added: “The federal government's target-setting approach and its determination to enhance the major revenue-generating agencies' collection efficiency to support the fiscal deficit estimate of N9 trillion is noted and hereby approved.” The House called on the federal government to continue to enforce the implementation of the Performance Management Framework by ensuring that they operate in a more fiscally responsible manner while reviewing their operational efficiencies and declared costs to-income ratios It said the N7.8 trillion in new

borrowings—both domestic and foreign be supported as well, given the country's current effective debt management strategy, which has moderated borrowing costs and decreased the amount of short-term debt in the portfolio and refinancing risk. It added: “ The MTEF/FSP document's ancillary parameters listed below for 2024–2026 should be maintained as well. “The federal government recommended spending N26 trillion, with N16.9 trillion in retained revenue; a N9 trillion budget deficit; N7.8 trillion in new borrowings (including borrowing from foreign and domestic sources); N1.3 trillion worth of statutory transfers; an estimated

NUPRC Warns Against Plans to Frustrate Gas Flare Commercialisation Programme

stating that the full provisions of the Petroleum Industry Act (PIA) will be brought to bear on such individuals or entities. The commission had earlier issued relevant letters of awards to 42 individual companies for all 49 flare sites on offer. The flare sites represented locations that are within the operating areas of 15 companies present at the engagement.

Whereas the commission had received some encouraging feedback on support by some producers, Komolafe stated that many awardees were decrying the lack of engagement by producers, contrary to the spirit of the programme and an earlier letter to them. According to him, the executive session was convened to keep the stakeholders abreast of what he

described as the “critical stage” of the NGFCP and the need to progress the project implementation with the urgency required. “At this juncture, let me categorically state that the commission, under the provisions of the PIA 2021, and enabling regulations such as the gas flaring, venting and methane emissions (prevention of waste and pollution) regulations 2023, will not

hesitate to apply necessary measures to erring/deviant producers/operators to the extent of the ultimate consequence of revocation of licenses or leases,” he stated. However, he assured that the commission recognised the producers as critical stakeholders and was counting on their support toward achieving the NGFCP project execution.

CDS: B'Haram Terrorists Planned Attacks from Prison with Warders’ Connivance operating in a difficult environment, stressing that the current manpower in the police is grossly inadequate, and the criminals also know this. Relatedly, the pan-Yoruba sociopolitical organisation, Afenifere, called on President Bola Tinubu to promptly issue an executive order to allow state and local governments in the country to set up their own police forces, as practised in other heterogeneous and large countries. Musa decried the corrupt attitudes of some prison warders in the Northeast, and alleged that they aided arrested Boko Haram terrorists in planning their operations. He stated, "The issue of correctional facilities. In the North-east, when we were debriefing some of the arrested Boko Haram, they were able to tell us how, from the prison, they could plan operations out in the field. They pass funds across. “They use some of the warders there. We are not saying all of them are corrupt. They use their accounts and the deal is that anyone whose account is used, they share it 50/50. Those are the challenges.” Musa lamented that media reportage in the country often glorified bandits and terrorists but demoralised soldiers. He said, “Most times we think security is only the responsibility of security forces. I say no, everybody has a responsibility to play. “We can never be everywhere. So we need educational sensitisation programmes for all Nigerians to understand that security is everybody’s responsibility. What you see, you talk about it. You don’t just keep quiet and say that this is for the police or the army. Everybody has a role. "We need to have a system, where we can train from schools, from primary school, where Nigerians can be made to understand they need to take ownership of security. The awareness will be made easier." The defence chief said they had realised that the magic wand to address insecurity was good governance, adding that anywhere there is good governance, insecurity goes down. He explained that security did not connote only military security, but included food, health, social, and education security, saying all these always play a role, and whenever good governance is lacking, there would be problems. The CDS stated, "In the North-east, we are able to achieve so much because we have an element of good governance. We have seen governors that are willing and doing things to make the people happy and that is why we are having the cases of success we are having. "As I mentioned earlier, the issue

of Improvised Explosive Device (IEDs) has remained the most potent threat that we have. They put these IEDs on the ground and because there are no roads, a vehicle climbs it and everyone in that vehicle is either killed or dismembered. “So, this becomes a problem. If people cannot eat, if people are hungry, no matter how you tell them to keep the peace, they will not and that breeds criminality. Those are the aspects we are looking at, particularly good governance." Musa also complained about the country's porous borders, stressing that there are about a thousand border crossings, where people come in and out without check. He stated, "That is where we have the movement of light weapons and small arms. Human trafficking is rampant. It is important that we must establish good border control, so that we can know the people coming in and going out." Musa added that Niger State alone had over 73 unmanned forests, saying these are places where non-state actors operate. He alleged that the judiciary was frustrating the war against terrorism in the country. According to him, "The issue of judiciary. I have been in the Northeast. There were a lot of Boko Haram elements that have been captured. We have kept them for five/six years. We, the armed forces, can arrest but cannot prosecute. “Some of them have been found wanting but no prosecution. We are keeping them for this lengthy period – everyone is accusing the armed forces in keeping them against their human rights but we cannot prosecute. "Another aspect of the judiciary is that you use all your effort to make an arrest, you hand them over, and before you enter your vehicle, the man has been released on bail. Now, you have risked yourself in doing that, by the time he is released, he goes to tell the people the person that arrested him. "Now your family members or you are at risk. It is getting to a state, where the security forces do not want to make any effort. We have the issue in the South-south. A lot of the ships – the last ship that was arrested, was arrested 10 years ago – the ship went and changed its name, changed its colour and came back again. “Ten years they were arrested again. By the time you hand over the ship, before you know it, it is released. I think that is one area we must look into. We must have a special court to look into it. That is why we arrest and destroy them because the longer we keep them, it becomes a problem because we

come under pressure to release them." In the South-east, Musa said, “Simon Ekpa has become a menace to this country. The country must act on it diplomatically. Finland is having a freeway encouraging him to do what he is doing. His utterances and actions are affecting what is happening in Nigeria. “We should never allow that. Our foreign service should step in. It is either we invite the ambassador to come and explain why they are protecting him. And he is doing us more harm because by his utterances, a lot of people have been killed." The CAS, on his part, bemoaned the rising cost of aviation fuel, which he said was hindering the war against terrorism in the country. He stated that the delay in budget funding was a significant challenge, considering that about 85 per cent of Nigerian Air Force capital budget was for procuring military hardware abroad. Abubakar stated, "The astronomic rise in aviation fuel prices and the introduction of surcharges has adversely affected Nigerian Air Force air operations, considering its large fleet. "The situation continues to worsen with the cost of Jet A-1 fluctuating at N1,150 per litre as against the budgeted N360 per litre. The need for an intervention fund to the Nigerian Air Force as an independent importer of Jet A-1 fuel to sustain air operations, while reducing the financial burden on the government, may thus suffice. "The consistent delay in budget

funding is a significant challenge, bearing in mind that about 85 percent of the Nigerian Air Force capital budget is for procuring military hardware abroad. “Since hardware by original equipment manufacturers are time bound, delay in budget funding may lead to late delivery due to late payment. Timely disbursement of approved funds would surely solve this challenge." Abubakar further lamented the complexity in targeting terrorists within the populace, and explained that the contemporary operating environment was characterised by terrorists, who situated themselves among the general populace. He said this made targeting complex in view of the need to avoid collateral damage. "Thus, the Nigerian Air Force kinetic operations are supported by credible intelligence to minimise undesired casualties," he said. The IGP said the police operated in very difficult environment, and the manpower in the force was grossly inadequate, and the criminals knew this. He stressed that the United Nations ratio of one police officer to 400 civilians was not attainable in Nigeria as at today. He said the ratio in country was one to 1000, which suggested that they had to double the manpower. Egbetokun stated, "We have 1,537 police divisional headquarters Continued on page 36

Stressing that the programme had attained the critical milestone of the award of preferred bidders status, he solicited the support for the programme towards the issuance of permits and execution of projects. On key issues of concern from the awardees’ perspectives, Komolafe stated that while the matters were being resolved, all hands must be on deck to ensure that timelines are met. “Exactly a year ago, in November 2022, the commission issued ‘cease and desist’ letters to producers to refrain from developing flare gas utilisation projects; and not jeopardise the flare profile earmarked for the NGFCP. “Please be informed that this directive subsists and the commission would not entertain any ploy to frustrate awardees, the efforts of the commission or the Nigerian government for that matter. “The commission has provided opportunities for producers to make inputs into the draft commercial agreements. These inputs alongside that of other key stakeholders have already been incorporated in the template. “Particularly for the connection agreement between the producer/ awardee, it is expected that discussions on execution should be at an advanced stage based on the issued template,” Komolafe added. On granting of access to flare sites, the NUPRC chief executive insisted that producers are obliged to grant data access and enable awardees undertake site visits in line with industry acceptable safety protocols. Provision of additional information, he argued, will enrich the awardees' project implementation efforts. "It is therefore surprising to receive feedback from awardees on claims by some producers that the forecasted gas volumes may not be available, only few months after. “The commission will not accept any ploy to dissuade the awardees from embarking on their project

Speaker, Tajudeen Abbas N8.2 trillion in debt service; N243.6 billion in the Sinking Fund; N1.27 trillion in pension, gratuity, and retiree benefits.

development and may activate the relevant provisions of the Act and regulations to address wilful misrepresentation of information and data,” he pointed out. Other challenges that had been registered by awardees, he said, include: assurance of flare gas supply, access to land and community support, delayed execution of agreements due to extended due diligence process and unwillingness to sign connection agreement with awardees.Notwithstanding, Komolafe maintained that the NGFCP will be a “win-win” for all. ‘’The global pressure on oil & gas to combat emissions and decarbonise amidst climate and environmental activism should represent added reason to leverage the NGFCP as a quick-win solution to address flaring,” he stressed. He listed the advantages of the programme to producers as helping to ensure that upstream operators address safety/environmental concerns and support their social license to operate. He said that it will also support the federal government’s drive to deepen gas penetration and enable use of Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) for domestic and vehicular use, among others. Komolafe also highlighted the concerns of producers, who are apprehensive about safety concerns – protection of producers’ assets and personnel as well as facilities, if infrastructure/technology is deployed on their sites. He listed others as potential impacts on upstream operations, prior investments in flare gas capture, awardee technical and financial capacity for project deliverability and termination of flare payment obligation on producers. While recognising the seriousness of the above concerns by producers, he assured that the commission will not sacrifice the safety of the people, integrity of assets or jeopardise Nigeria’s fledging oil production.

Tinubu: With Stable Polity, Foreign Investments into Nigeria Now Secure German business community, “Since 1999, we have witnessed changes in democratic governance, with peaceful transfers of power within and between parties. “Democracy in Nigeria has proven to be flexible and resilient. Shake off any remnants of the military era syndrome, we have moved beyond that. Despite challenges faced by other African nations, Nigeria stands firm, and we are your partners." The president highlighted some of the achievements of his administration since its inauguration in May, including his globally-acclaimed economic reforms. He emphasised his commitment to sustaining the reforms and building stronger Nigeria-Germany relations. Tinubu stated, "For those who feared various obstacles, look at me; I come from the private sector, trained by Deloitte. I served as the treasurer in Exxon Mobil. Define corporate governance in any way, and I am in it. “I governed Lagos for eight consecutive years. Today, I can

proudly beat my chest that Lagos State is on the horizon and the fifth-largest economy in Africa, rising from ground zero. This is the track record that led me to the presidency. “Nigerians voted for me for reforms, and from day one of my inauguration, I implemented the reforms. My inaugural speech did not disclose what I would do. I removed the fuel subsidy that is a great burden to Nigerians from the moment I stepped into office. “The arbitrage regime is gone forever. Now, you can bring your money in and out as you wish. If you encounter any problems, rest assured that I have built one of the most reliable teams Nigeria has seen to address them. “I appeal to you to forget the past and focus on building a relationship that removes obstacles, fostering progress and prosperity in Nigerian-German relations. You can rely on us; we can rely on you; both of us can chorus Hallelujah at the same time." Moreover, yesterday, the promis-

ing economic partnership between Nigeria and Germany witnessed further expansion and strengthening, as two important agreements were signed between both countries’ businesses. Tinubu witnessed the signing of two Memoranda of Understanding (MoU), one on the supply of gas from Nigeria to Germany, and another for $500 million worth of renewable energy projects in Nigeria. One MoU was signed between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on gas export partnership, while the other brought together Union Bank of Nigeria and DWS Group on cooperation in renewable energy. CEO of GasInvest, Mr. David Ige, who signed the MoU on gas supply, said the Riverside LNG project aimed to supply energy from Nigeria to Germany, extinguishing about 50 million cubic feet per day of flared gas in Nigeria. According to Ige, “The project will supply energy from Nigeria to Germany at 850,000 tonnes per

annum, expanding to 1.2 million tonnes per annum. “The first gas will leave Nigeria for Germany in 2026, and there will be further expansion. This will extinguish about 50 million cubic feet per day of flared gas in Nigeria and open alleyways of new and greater exports of gas to Germany.” On their part, the German partners expressed confidence in investing in Nigeria's gas sector. Chief Operating Officer of Johannes Schuetze Energy Import AG, Mr. Frank Otto, described the partnership as a "big deal" for the German market. Chairman of Union Bank, Mr. Farouk Gumel, disclosed the commitment of $500 million for e-energy projects in Nigeria, emphasising the importance of rural inclusion and bringing more people into the formal economy. Gumel said, “We believe this would bring rural inclusion and capture more people into the formal economy. Without inclusion, there is no growth.”

WEDNESDAY NOVEMBER 22 , 2023 • T H I S D AY

WEDNESDAY NOVEMBER 22, 2023 •T H I S D AY

WEDNESDAY NOVEMBER 22 , 2023 • T H I S D AY

T H I S D AY • WEDNESday NOVEMBER 22, 2023

politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)

Confidence Vote on Akeredolu Amid Ondo’s Festering Political Crisis

Fidelis David reports that the recent passing of vote of confidence on Governor of Ondo State, Mr Oluwarotimi Akeredolu by the state executive council members has reignited the political crisis between the governor and deputy, Lucky Aiyedatiwa, as the crisis in the two camps continue to fester ahead of the 2024 governorship election in the sunshine state.

Akeredolu

he Political opprobrium in Ondo state is showing no sign of abating with less than 12 months to the 2024 governorship election slated for November 16, 2024 in the sunshine state. Before delving into the specifics, it has been over 74 days since the Governor of the State, Oluwarotimi Akeredolu, returned from a three-month medical vacation in Germany, and since then, he has been in Ibadan, Oyo State capital, where he carries out his duties, a development that has triggered criticisms.

Affirming Confidence in Akeredolu Undoubtedly, the past six months in the sunshine state has been full of daily drama, with the crisis taking new turn weekly, while hope of possible resolution appears far in the horizon. Last week Thursday, the state executive council members passed vote of confidence on Akeredolu, expressing confidence in his ability and capability to continue leading the state government. Perhaps, this came amid protest by the opposition Peoples Democratic Party (PDP), demanding the whereabouts of Governor Oluwarotimi Akeredolu who returned to the country on September 7 after his three- month medical leave in Germany and has since remained in Ibadan amid claims by the opposition party that the governor has become incapacitated. A statement jointly signed by the state executive council and other political appointees, the Exco unanimously declared their unflinching trust in Akeredolu and endorsed his impactful leadership. In the document, out of 35 cabinet members, 33 signed while two others failed to append their signature. The cabinet members explained that, in fulfillment of their dedicated responsibilities to advance the programs and policies of Akeredolu-led administration, encapsulated in the Redeemed agenda, aimed at enhancing the lives of the people and fostering development across the state, they proudly commended the Governor for the unprecedented progress under his leadership. According to them: “As members of the State Executive Council, we have imbibed the principles of good governance, integrity, and commitment from the very best- Governor Oluwarotimi Akeredolu. The courage and exemplary leadership consistently displayed by Mr. Governor continue to motivate and inspire us to fulfill our duties “Without hesitation, Mr. Governor is a blessing to the good people of Ondo State. His leadership has been rewarding and inspirational. Governor Akeredolu is not only a

Aiyedatiwa worthy leader but also a national asset who passionately pursues the welfare of the country. This patriotic leadership is characterized by unwavering courage in leading the people of the Sunshine State towards prosperity and progress. “As Mr. Governor’s foot soldiers, we take immense pride in being under his leadership. Witnessing his dedication, sleepless nights, and commitment to protecting and serving the people of the state, despite numerous challenges in the past, is truly admirable. His leadership embodies compassion, vision, and commitment to development, progress, and peace.” Besides, the Exco noted that the state is reaping the benefits of Akeredolu’s courage, saying, the Amotekun corps, a product of his determination, has become a celebrated innovation in the security architecture of the state and the Southwest in general. “Since security is the primary objective of any government, the existence of Amotekun is a testament to Governor Akeredolu’s visionary leadership. “Popularly referred to as “Mr. Road” or “Mr. Infrastructure,” these appellations reflect the administration’s giant strides in infrastructural development. Since assuming office, Mr. Governor has demonstrated a clear passion and dedication to bridging infrastructural gaps in the state. Over the past six years, significant growth and progress in infrastructural development have

been recorded, including the construction of two unprecedented flyovers. “The first flyover, named “Redemption Bridge” and located in Ore, was constructed by the Governor Akeredolu-led administration. The second, the first in the state capital, is underway at the Shagari/Onyearbulem junction in Akure. These infrastructure projects, termed “Dividend of good governance” by Mr. Governor, represent a substantial public good”. According to the executive members, Ondo State under the leadership of Akeredolu has taken a significant leap in the health sector, noting that the construction of 250-bed ultramodern teaching hospitals in Akure and Ondo respectively has reached an appreciable level. “Having worked closely with the Governor, we commend his dedication to public service and achievements in infrastructure development, healthcare, education, and various sectors that have positively impacted the lives of Ondo State people. We take pride in sharing in these achievements and successes, acknowledging Mr. Governor’s visionary governance, commitment to development, and tireless efforts in improving the well-being of Ondo State citizens. “Therefore, we unanimously declare our unflinching trust in Mr. Governor and endorse his impactful leadership. As a united front, we remain steadfast in our support for Governor Oluwarotimi Akeredolu, and pledge to continue working collaboratively towards the advancement and prosperity of the state. We express our gratitude to Mr. Governor for his selfless service and courageous leadership.” The Work of Desperate Politicians Meanwhile, two of the Commissioners, Razak

While pressure continues to mount on the governor to return to the coastal state, Barrister Benson Enikuomehin said Akeredolu’s absence has left the state like a sheep without a shepherd. According to him: Ondo State deserves to be governed well. As of now, we are like a sheep without a shepherd; rudderless. From the Eighth of September till date, no one except this Ali and the Angels group is seeing him. Nobody is seeing him. We can’t hear him. He cannot talk to us either by telephone or by conversation. If the governor is not present, did we vote for him to be a spiritual father who will be issuing orders from Rome? Of course not. He should be in Akure, Ondo State.

Obe of the Ministry of Energy and Minerals Resources, and his Commerce Industry and Cooperatives counterpart, Samson Sowore, did not append signatures against their names. Specifically, the Commissioner for Commerce, Industry and Cooperatives, Akin Sowore, said the move was the work of desperate politicians in the state in order to create crisis. He said: “The vote passed by the members of the cabinet in the state does not count, because in the first place, we are the appointees of Mr. Governor. We can’t even say that we don’t have confidence in him. Anybody that doesn’t have confidence in his government has to resign, so by pushing vote of confidence as far as I’m concerned it does not make sense, we don’t have power to remove the governor as members of the cabinet. “So, passing vote of confidence on Governor in the first place does not add anything to Mr. Governor. So it is the work of those desperate politicians in the state in order to create crisis when there is no crisis. No exco Meeting has Been Held Since Akeredolu’s Return According to the Commerce Commissioner, no Exco meeting has been held since the governor’s return, except during the period when the deputy governor was the acting governor. “I don’t have any issues with the governor, and he is our governor in the state. In fact, in the first place, they don’t allow the man to rest. There was no Exco meeting, the governor is far away in Ibadan and the deputy is embattled far away in Abuja, so nobody to chair the executive meeting in the state. “Even if I’m around I will not have signed. No exco meeting had been held since Akeredolu’s return, except when Aiyedatiwa was acting as deputy governor. But, since the governor had resumed duty on 7th September, 2023, no Exco meeting had been held”, he added. Also, the Commissioner for Energy and Minerals Resources, Razak Obe said “I’m in Lagos as I speak to you, I left Akure to attend a conference and I communicated that to the Chief of Staff before I left. So later they were asking for my signature to be appended on a document, they called it vote of confidence and I asked if anyone share a copy with me so that I will know the content before appending my signature. “No executive meeting was held, nothing like that. So I was careful dropping my signature on a document that I didn’t know anything about”. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY • WEDNESday NOVEMBER 22, 2023

politics

Navigating Interplay of Law and Politics in Mbah’s NYSC Certificate Saga

Lemmy Ughegbe observes that political intrigues was more at play in the recent National Youth Service Corps Discharge Certificate saga involving Governor Peter Mbah of Enugu State over which he was exonerated by a Federal High Court sitting in Abuja

s one who holds government and its functionaries accountable as well as an avowed campaigner for the building of strong institutions instead of strong men, I paid more than a passing attention to the polemics surrounding the National Youth Service Corps (NYSC) discharge certificate of Mr. Peter Mbah, way ahead of his emergence as the Governor of Enugu State. Regardless of the suggestions that it could be more of politics than law, it was my considered view that the primary concern should be whether or not he offended the law by presenting a fake NYSC discharge certificate. In fact, I was also initially more inclined to believe the NYSC, being the issuing authority. However, the details of the judgement of the Federal High Court, Abuja, which affirmed the authenticity of Mbah’s discharge certificate and ordered NYSC to pay him the sum of N5 million for conspiracy, fraudulent design, and malicious misrepresentation of facts, should interest lovers of our democracy and sanctity of our public institutions because they confirm the gale of doubts induced by some steps/ missteps by NYSC along the line. Meanwhile, during the trial, Mbah averred that he completed his national service, tendering an NYSC discharge certificate No. A808297. He also tendered an application for suspension of his service to go to the Law School and the consequent approval by NYSC. He also tendered his application for reinstatement after the programme and NYSC’s letter dated 7th May, 2003 (Ref. No. NYSC/DHQ/CM/27/20), directing his reinstatement to “continue his service year from where he stopped, with effect from May 2003.” In its own averment, NYSC admitted reinstating Mbah and reposting him to Udeh & Associates to complete his service with a probable September 2003 completion date. However, it averred that Mbah did not complete those remaining months after his reinstatement. NYSC submitted that it withheld certificate No. A673517, which it should have issued to Mbah, adding that the certificate No. A808297 he tendered did not originate from it. While I was still inclined, at this stage, to believe NYSC, reasonable doubt had been created in my mind as to whether or not the Corps was sincere in its claims because whereas Mbah tendered a certificate with No. A808297 as a proof that he completed his service, NYSC failed to tender the certificate with No. A673517 as a proof that it withheld his certificate for allegedly not completing his service. NYSC told the court that Mbah’s certificate was among uncollected certificates, which it burnt in 2022. Instructively, by 2022, the politics of 2023 had already picked up. Are certificates such huge burdens that they must be burnt and at the cusp of a general election? And no digital copies were made in the 21st century before their incineration? Worse still, certified true copies of certificates dated 2003 were exhibited by the NYSC in its response to Mbah’s suit leading the court to observe: “If all the outdated, unused, and cancelled certificates of National Service and certificates of exemption, certificates of absconded members of the Service Corps 1999 to 2004, were disposed of by incineration, how did the Defendants (NYSC and its Director of Corps Certification, Ibrahim Muhammad) obtain Exhibits A31 and A32 which is dated 6th January, 2003, which they certified and tendered in this case? To make matters worse, the certification by the stamp thereon was done on 19th August, 2023, long after this case was initiated on 4th May, 2023. A person can only certify a document, which originally he has in his possession.” Again, NYSC claimed that the purportedly burnt certificate No. A673517 meant for Mbah was dated 2001, an assertion the court assessed as “contrary to the evidence in this case.” Justice Ekwo stated: “From the evidence in this case, the Plaintiff completed his service in 2003 upon being reinstated and not in 2001. It is not possible for the 1st Defendant (NYSC) to have

Mbah pre-emptively prepared a certificate dated 2001 for a member of the Corps whose service was deferred in 2002 and was reinstated to complete the same in 2003. “Furthermore, there is no evidence of the Defendants linking the said certificate with number A673517 to either file with Ref. No. LA/01/1532 (which was the substantive file opened at the time the Plaintiff joined service) or file with Ref. No. LA/01/1532/T (which was a temporary file for the Plaintiff at the time he was reinstated) after the deferment. It is these files that would have been a formidable foundation of the case of the Defendants on which certificate it actually issued to the Plaintiff.” Indeed, NYSC’s failure to produce Mbah’s files before the court dealt a fatal blow to their case and possibly removed any doubts of their complicity and duplicity in the whole certificate saga. Citing several judicial authorities, Justice Ekwo held: “There is no evidence that file with Ref. No. LA/01/1532 or file with Ref No. LA/01/1532/T are documents, which are not in the custody of the

Defendants and there is no evidence that both files were disposed of during the incineration of 2022. The Defendants have failed to proffer any credible evidence on the whereabouts of those files. “I find that non-production of file with Ref. No. LA/01/1532 or file with Ref No. LA/01/1532/T means the contents thereof would have gone against the Defendants in this case and I so hold.” Importantly too, the court held that the Defendants failed to lead evidence to prove a case of forgery against Mbah. The court held that NYSC “handled their case with levity or that they lacked the will-power to challenge the case of the Plaintiff”, adding that “no evidence was led to compare the calligraphy on certificate No. A808297, which they say they did not issue.” Thus, in its judgment, the court declared that based on evidence before it, Mbah completed his service and that NYSC issued him certificate No. A808297. It declared that the Defendants “conspired by fraudulent design, suppressed and misrepresented facts in its supposition that the Plaintiff’s (Mbah’s) certificate Number A808297 was not issued by the Defendants (NYSC), a fact they knew or ought to know as untrue, incorrect, which constitutes the tort of conspiracy.” It further held that “the Defendants were negligent and maliciously misrepresented facts” the dominant purpose of which was “to inflict damages in his legal

An institution keen on fact-finding more than a witch-hunt should have checked with Udeh & Associates where it admitted posting Mbah for his primary assignment before issuing further disclaimers. More so since he attached to his petition to NYSC, copies of the clearance letters issued by the law firm and based on which he said his allowances for the months in contention were paid into his Fidelity Bank account. Also, DSS’ finding that NYSC could not account for twelve 8-series discharge certificates (A80829 - A808308, which includes Mbah’s) settles the argument as to whether his certificate belongs to the agency. Therefore, the option left to NYSC to prove forgery was to present anyone else bearing the same certificate No. A808297, which it did not.

profession, politics, and business.” As earlier expressed, NYSC took some steps that raised a gale of doubts about its uprightness and neutrality in the course of this saga. First, knowing how taciturn government functionaries are in delving into politically sensitive issues, it was baffling to watch the Director General of NYSC, Brigadier General Yusha’u Ahmed, defy a subsisting court order to make a categorical disclaimer of Mbah’s certificate on Arise News on 19th May 2023. It is not imaginable that the DG would defy a restraining order on himself and his agency to do so and at the risk of jail term for contempt of court without a political drumbeat. Again, why was NYSC and its DG reluctant to reply to Mbah’s petition to it over the February 1 2023 disclaimer, but so eager to issue/make further disclaimers against him at the peak of gubernatorial campaigns? Meanwhile, I became more suspicious when NYSC mounted a legal roadblock to stall the hearing and determination of Mbah’s N20 Billion lawsuit against it one way or the other by filing a preliminary objection instead of grabbing the opportunity with both hands to finally nail him. The said objection was predicated on Section 20 of the NYSC Act, which makes it mandatory for a Corps member to file a complaint to the Presidency for an amicable resolution before instituting a legal action. But the objection was thrown out by the court, which agreed with Mbah that this Section did not apply to him since he was neither a Corps member nor an employee of NYSC. Again, an institution keen on fact-finding more than a witch-hunt should have checked with Udeh & Associates where it admitted posting Mbah for his primary assignment before issuing further disclaimers. More so since he attached to his petition to NYSC, copies of the clearance letters issued by the law firm and based on which he said his allowances for the months in contention were paid into his Fidelity Bank account. Also, DSS’ finding that NYSC could not account for twelve 8-series discharge certificates (A80829 - A808308, which includes Mbah’s) settles the argument as to whether his certificate belongs to the agency. Therefore, the option left to NYSC to prove forgery was to present anyone else bearing the same certificate No. A808297, which it did not. Another development that suggested that the whole saga was part of high-power politics was the 7th of December 2022 suit No. FHC/ ABJ/CS/2257/2022 (Felix Ugwu & 5 Ors. v. Peter Mbah & 3 Ors) in which Mr. Ugwu and his co-plaintiffs/applicants claimed that Mbah was an ex-convict and made a charge/plea bargain in Suit No. FHC/L/09C/2007: Federal Republic of Nigeria v. Nnamani Chimaroke & 11 Ors.) at the Federal High Court Lagos. They prayed the Federal High Court Abuja to disqualify him from seeking election based on Section 182(1) (e). Interestingly, the Plaintiffs disingenuously disclosed in their affidavit that the information was given to them by George Ogara, a senior lawyer and deputy governorship candidate of the APC in Enugu. Surprisingly, whereas court record show that Mbah was never arraigned and never took a plea, let alone being convicted; whereas they showed that Justice M.N. Yunusa discharged him and two others from all charges at the instance of the EFCC on 7th March 2013; a senior officer in the Federal Ministry of Justice went ahead to file processes to support the Applicants’ false claims. It took Mbah’s petition to the Attorney-General of the Federation to unravel the perfidy. In conclusion, the Mbah vs. NYSC saga has further exposed the incestuous and dangerous interplay between law and politics in Nigeria. It crystallises the ineptitude and corruption that have ravaged our public institutions; and it is my hope that going forward we will be able to safeguard our public institutions from the allure of politricks in the interest of constitutional democracy. -Ughegbe writes from Abuja

FEatures

T H I S D AY • WEDNESday NOVEMBER 22, 2023

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

Bridging Access to Quality Learning Opportunities the Seplat JV Way

Precious Ugwuzor writes that by promoting quality education and academic excellence in host communities, Seplat JV is bridging educational gaps and promoting access to quality learning opportunities through its PEARLs Quiz, which not only incentivise academic excellence but also encourage students to engage in intensive and extensive study practices, as well as rigorous debates

Staff of Seplat Energy and winners of PEARLs Quiz in Asaba

“T

he more you read, the more things you will know, the more you learn, the more places you’ll go.” Thus goes the timeless saying of famous American writer, Dr. Theodor Seuss, which found vivid manifestation in the experiences of students of Don Bosco Science Academy, Ekpoma, Edo State and 138 secondary schools, who recently participated in the Seplat Energy Joint Venture (JV) Pearls Quiz in Asaba, Delta State. The 12th edition of Seplat Energy JV corporate social responsibility initiative awarded the winner of the intra-state PEARLs Quiz competition the coveted grand prize of N10million accompanied by N100,000 scholarships for each of its three partaking students. The Seplat Energy/NNPC JV Pearls Quiz CSR initiative is aligned with the United Nations (UN) Sustainable Development Goal 4 which is to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. Ensuring quality education for all is not only a global imperative but a national concern. According to UNESCO, as of 2020, approximately 258 million children and youth were out of school worldwide. This stark figure underscores the urgent need for initiatives like the Seplat PEARLs Quiz, which strive to bridge educational gaps and promote access to quality learning opportunities. Moreover, UNESCO reports that over half of these out-of-school children reside in sub-Saharan Africa and Southern Asia, emphasizing the particular challenges faced by these regions. Despite significant progress in increasing access to education over the last decade, there remains a considerable disparity in educational attainment and proficiency levels globally. In addition to access, proficiency standards in key subjects pose a critical concern. Alarmingly, according to UNESCO data, more than half of all children and adolescents worldwide fail to meet minimum proficiency standards in reading and mathematics. This sobering statistic also underscores the imperative of initiatives like the Seplat PEARLs Quiz, which not only incentivize academic excellence but also encourage students to engage in intensive and extensive study practices and rigorous debates. UNICEF, as a global advocate for inclusive and quality education, addresses these challenges through its commitment to equity and inclusion. Through collaborative efforts with governments worldwide, UNICEF strives to enhance the quality and inclusiveness of schools. By doing so, it strives to create an environment where every child, regardless of background or circumstance, has access to an education that empowers and prepares them for a brighter future. Correspondingly, the Seplat Energy JV PEARLs Quiz, by addressing the United Nations’ Sustainable Development Goal 4, contributes significantly to the global endeavor

of providing inclusive and equitable quality education. By extending opportunities for lifelong learning to both public and private schools in Edo and Delta states, this initiative stands as a great symbol of the NNPC/Seplat Energy JV’s Corporate Social Responsibility commitment to showing the students in its host communities that education is the key to a sustainable and rewarding future. Through such concerted efforts, the companies and the government of their host states collectively work towards a time where every child in both states can access and benefit from a quality education, which will in turn break the cycle of poverty and foster upward socioeconomic mobility. The annual quiz competition kicked off with enthusiasm in Benin, Edo State, on October 10th, 2023, signifying the start of an engaging academic journey. Out of the 510 schools that initially participated in the rigorous qualifying online test, 139 emerged as determined contenders. Following a thorough evaluation and the impressive presentation of science projects and artworks, only four schools emerged as winners, earning coveted positions in the much-anticipated finals. In the decisive contest for third place, Hollywood International and Divine Providence Educational Centre competed fiercely, with Hollywood International ultimately securing the third position. Yet, it was the outstanding performance of Don Bosco Science Academy that shone the brightest, prevailing over Our Saviour Secondary School and claiming the esteemed first-place title. In recognition of their outstanding achievements, the first three winning schools were rewarded with prizes of ten million naira, five million naira, and three million naira respectively. Additionally, partaking students from the winning schools each received well-deserved scholarships of N100,000, N75,000 and N50,000 respectively. Opening the event, the Director of External Affairs and Sustainability, Seplat Energy, Chioma Afe, reaffirmed

Seplat Energy’s enduring commitment to being a responsible and accountable corporate organization with strong advocacy for global best practices. “We have built strong relationships with our local stakeholders and created a stable operating environment in our host states by implementing programmes in healthcare, education, capacity building, youth empowerment, and infrastructural development. "We are mindful of the needs in the country's education sector, our leadership role amongst our peers, and our commitment to our host communities in Edo and Delta States.” Afe added: “This programme has directly impacted the performance of the students as it encourages them to study intensively and extensively and participate in rigorous debates. Moreover, it provides a platform for both public and private secondary schools to interact, share ideas, and experiences throughout the programme. It offers far more than just winning: it helps students gain substantial experience, build confidence, and encourages them to adopt innovative techniques and develop their ideas and skills.” The Managing Director, Seplat West Limited, Mr. Ayodele Olatunde, thanked the governments of Edo and Delta states for their unwavering support over the years. This has been instrumental to the level of success recorded by the joint venture. He also extended Seplat Energy’s gratitude to the NNPC E&P Limited and various regulatory agencies in Edo and Delta. “The initiative we gather to celebrate today is unique and remains a true embodiment of corporate social responsibility. It's about using this initiative to promote and reward academic excellence among secondary schools in our host states. It is more than just academic achievements; it's about fostering values, principles, and a sense of purpose in our young talents.” Similarly, a representative of NEPL, Mr. Oluwaseyi Orimoloye, said that the laudable event will foster healthy educational competition among students, adding that: “It is a rare opportunity intended to broaden students’ horizons while exposing them to a broader knowledge base. It is an invaluable part of our academic journey.” He urged teachers to keep molding credible and world-class leaders, saying that Nigeria needs to invest aggressively in producing the best in terms of human capital.

According to UNESCO, as of 2020, approximately 258 million children and youth were out of school worldwide. This stark figure underscores the urgent need for initiatives like the Seplat PEARLs Quiz, which strive to bridge educational gaps and promote access to quality learning opportunities

The Delta State Commissioner for Secondary and Basic Education, Rose Ezenwu, said education is a powerful tool that can transform societies socially, politically, economically, and technologically. “It is the magic wand that can uplift communities, and it remains the key to progress. This administration is fully committed to providing quality education for our young learners.” The Secretary to the Delta State Government, Dr. Kingsley Emu, who represented the Governor Rt. Hon Sheriff Oborevwori, said: “I was deeply impressed by the commitment and dedication it takes to have 139 schools qualify out of over 510 secondary schools. This achievement reflects an extraordinary amount of energy, an intricate set of processes, and an unwavering attention to detail. “This is for Edo and Delta indeed, but I see something even more promising here. The boldness, eloquence, and confidence displayed by the participants in this quiz competition showcase the potential that such events unlock in our youth. Indeed, this is the future of Nigeria. I would like to express my heartfelt gratitude to Seplat Energy and NEPL for their unwavering commitment to initiatives like this. “ During the event, the Seplat Women's Awesome Network (SWAN) and the Seplat Young Professionals (YP) Network were present to provide guidance and advisory through mentorship and health care sessions. Schools also exhibited various science- and art-based developmental projects, highlighting their commitment to holistic development. These projects were meticulously evaluated, with exceptional schools earning well-deserved recognition and rewards for their outstanding contributions to the academic and creative spheres in their states. The Seplat Energy JV PEARLs Quiz unfolds in two crucial stages: the test and competition phases. In the test stage, all participating schools undergo qualifying assessments, with Seplat overseeing and managing the data for all participants. The competition stage sees qualified schools engage in head-to-head battles, culminating in a process of elimination until a deserving champion emerges for the year. All qualified schools from the test stage go home with Seplat-branded laptop bags, exercise books, and T-shirts. The Seplat Energy PEARLs quiz addresses the United Nations’ Sustainable Development Goal 4 for quality education by ensuring inclusive and equitable quality education for both public and private schools in Edo and Delta states, thus helping to promote lifelong learning opportunities for the teeming youth population. Furthermore, in the global context, it's important to note that UNESCO 2020 report that around 258 million children and youth were out of school, with more than half of them living in sub-Saharan Africa and Southern Asia, highlights the urgency and significance of initiatives like the Seplat Pearls Quiz in addressing the need for accessible and quality education worldwide.

WEDNESDAY NOVEMBER 22 , 2023 • T H I S D AY

T H I S D AY WEDNESDAY NOVEMBER 22, 2023 20 TR

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Wednesday November 22, 2023 Vol 27. No 10449

opinion@thisdaylive.com

www.thisdaylive.com

WHY AFRICA’S INTERNET CONNECTIVITY REMAINS POOR

A significant investment is required to bridge the connectivity gap, argues SONNY ARAGBAAKPORE

See page 21

HAPPY BIRTHDAY, VALERIAN OKEKE

PAT ONUKWULI pays tribute to Archbishop Valerian Okeke, a testament to leadership, faith, and social justice

See page 21 EDITORIAL

REDUCING FATALITIES ON THE ROAD

National security implies that government should protect the state and its citizens from all kinds of crises, argues CHEKWUBE NZOMIWU

BROADENING THE SCOPE OF NATIONAL SECURITY Two things occurred to me when I learnt about the role played by the National Security Adviser, Malam Nuhu Ribadu in the resolution of the recent nationwide strike of the organised labour. One, my mind told me that the President did not make a bad choice for the job of NSA. Two, I saw it as an indication that the former Chairman of Economic and Financial Crimes Commission (EFCC) fully understands the nitty-gritty of his new assignment, unlike most of his predecessors. In the past, we had NSAs who did not see their job beyond policing and securing the territory of the country or like in the case of the immediate past NSA, Major General Babagana Monguno (rtd.), ensuring the safety of the President. While blood tasty non-state actors unleashed mayhem for eight years nonstop in different parts of the country in that era, Monguno appeared cozy, travelling with his former principal, President Muhammadu Buhari, from one part of the world to the other. Ribadu’s appointment as NSA was greeted with skepticism, especially from those who felt that the coveted job should be the exclusive preserve of persons with military background. In my opinion, their position must have been borne out of crass ignorance or the erroneous conception of national security, which has prevailed in the country over time. In Nigeria, people tend to see national security from the narrow prism of defence and law enforcement. Once a national security threat is mentioned, people’s minds flash to the activities of non-state actors, such as Boko Haram, bandits, ESN and kidnappers, among others. However, security experts see national security as much more encompassing than just policing and securing a country and its citizens. For instance, in 1998, Alhaji Ismaila Gwarzo, who was a non-military NSA during the military era, defined national security as freedom from hunger, or from threat to a nation’s ability to protect or defend itself, promote its cherished values and interest, and enhance the well-being of its people. Going by Gwarzo’s definition, national security extends to the protection of the economy, institutions and indeed, every other thing pertaining to the nation. A few practical examples of national security threats will suffice here. Firstly, food insecurity is a national security threat. Food insecurity exacerbates poverty and inequality and creates social tensions. It is said that a hungry man is an angry man. When people don’t have food on their table it could trigger insecurity. Although the 2020 ENDSARS initially started as a peaceful protest against police brutality, it became an opportunity for angry citizens to vent their anger over the hunger in the land. During the unrest, government warehouses and

stores were looted by hungry protesters. Lives were lost in the violence that trailed the protest. Secondly, any threat to the environment is a threat to national security. Some people have linked the farmers/herders’ clashes in the country to the desert encroachment in Northern Nigeria, forcing the herders to move southwards. Unfortunately, these clashes are now assuming other dangerous colourations. The clashes have claimed thousands of lives and rendered hundreds of thousands of others homeless in different parts of the country. These homeless people are now living in Internally Displaced Persons (IDP) camps. Their means of livelihood have also been destroyed. The development has exacerbated ethnic and social tensions, leading to widespread violence. I could recall vividly that sometime in 2014, then President, Dr. Goodluck Jonathan launched the implementation of the N100 billion Nigerian component of the Great Green Wall (GGW) in Arewa Local Government Area of Kebbi State, to address the social, economic and environmental impacts of land degradation and desertification on communities bordering the Sahel and Sahara deserts. The Nigerian component comprises a greenbelt of 1,500 km long, stretching across 11 states from Kebbi in North West to Borno in North East. The remaining nine states covered by the Nigerian component include Zamfara, Gombe, Yobe, Jigawa, Adamawa, Bauchi, Katsina, Sokoto and kano States. The project includes planting of trees and establishment of industries that would process the fruits. Jonathan’s successor, Muhammadu Buhari, from Katsina State, discontinued the project which would have created millions of jobs in the Northern States. Just like desertification, competition for water is a threat to national security. In September 2019, President Buhari raised an alarm over the shrinking of Lake Chad at an event in New York on the sidelines of the UN General Assembly. The disappearance of Lake Chad has been linked to food insecurity, conflicts, terrorism and displacement of people from their homes. Equally a threat to national security is what American political scientist, Ted Robert Gurr

referred to as “economic discrimination” in his seminal work “Why Men Rebel,” published in 1970. Put in simple terms, economic deprivation is a threat to national security. Currently, 133 million Nigerians are living in multi-dimensional poverty, amid 25 percent inflation in a country where N160 billion would be spent on procuring SUVs for 469 federal lawmakers. According to Gurr’s ‘relative deprivation theory’ of political violence, when people see a large gap between their expectations and what they think they can get, they respond with anger. This anger turns into aggression. Any attempt by government to use force, strengthens the strife. Besides, the activities of the violent non-state actors mentioned earlier has been linked to high rate of unemployment in the country, which stood at 33.3 percent before the recent controversial 5.3 percent unemployment rate reported by the National Bureau of Statistics (NBS) recently, based on the new Nigeria Labour Force Statistics Report. An attack on any national institution also constitutes a national security threat. For instance, the recent strike by the organised labour in Nigeria was a response to the brutalisation of the President of Nigeria Labour Congress (NLC), Comrade Joe Ajaero in Owerri by suspected agents of Imo State Government, working in cahoots with the Nigerian police. The already distressed Nigerian economy, incurred heavy revenue losses during the strike, which lasted two days. The NLC, headed by Ajaero, is one of the key institutions in the country, being the umbrella body of all Nigerian workers. Hence, an attack on NLC or its leaders, is a threat to national security. Election malpractice or rigging also has grave national security implications because it could trigger violence. One of the key ingredients of democracy is a transparent election process. Nigeria has witnessed several cases of election and post-election violence from the First Republic to the current Fourth Republic. In some cases, lives and property were lost. In fact, election violence was linked to the collapse of Nigeria’s first two Republics. In conclusion, I think time is ripe for reconception of national security in Nigeria. No country develops in an atmosphere of insecurity. We must prioritise national security (in the real sense of it) before we talk about foreign direct investment. National security implies that government should protect the state and its citizens against all kinds of national crises using economic and political power, diplomacy and military might, among others. Nzomiwu, a development communicator and political scientist writes from Awka, Anambra State

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A significant investment is required to bridge the connectivity gap, argues SONNY ARAGBA-AKPORE

PAT ONUKWULI pays tribute to Archbishop Valerian Okeke, a testament to leadership, faith, and social justice

HAPPY BIRTHDAY, VALERIAN OKEKE WHY AFRICA’S INTERNET CONNECTIVITY REMAINS POOR With anticipated 70% broadband penetration in Nigeria by 2025, many African countries may still be grappling with how to get their populations out of the outskirts of globalization. A third of the global population is without internet and the International Telecommunications Union (ITU) thinks it could be addressed by 2030 in line with the Sustainable Development Goals (SDG) template. Strangely less than one-third of the African population has the privilege of accessing broadband connectivity. Shockingly too, 21 out of the 25 countries with the least connectivity in the world find their home within the borders of Africa. And with a poor internet penetration rate of a mere 36 percent, Africa lags significantly behind

the global average of 62.5 percent. Africa shares this unenviable position with some countries in Asia despite the manifest growth rate in China and India. According to a report by Google and the International Finance Corporation (IFC) Africa has a growing tech market that has been hailed as a game-changer for the economy, saying “Africa is a continent on the rise.” Africa’s digital economy, the report says, “has the potential to contribute nearly $180 billion, a 5.2 percent of the continent’s GDP, by 2025. It’s a staggering figure that speaks volumes about the untapped potential waiting to be unleashed.” The report further says, “Africa’s technology ecosystem is full of life, with capital investments hitting alltime highs. In 2022 alone, venture capital deals on the continent experienced a remarkable eight percent surge, surpassing the previous year’s record and amassing a total of $6.5 billion, according to renowned global investment platform, Partech. These numbers tell a tale of growing confidence and mounting interest in Africa’s vibrant and promising tech sector.” SDG Digital highlights that the funding gap of over USD3.7 trillion for the SDGs should focus international efforts on enablers—such as infrastructure and connectivity—as well as the pooling of resources through collaboration including the private sector and the utilization of diverse financing methods. There are hopes on the horizon as SDG Digital received new commitments to accelerate progress on the Sustainable Development Goals from which African nations are likely to be major beneficiaries. Diverse partnerships and financing are proven to scale up digital solutions and drive innovation. According to ITU while 2020 saw a double-digit growth in Internet connectivity, the number of people offline worldwide continues to decline to 33 per cent in 2023, according to the latest data from ITU. Only 67 per cent of the world’s population, or 5.4 billion people, are online in 2023, the report said. ITU estimates that growth in Internet connectivity remains the strongest in low-income countries including Africa where data indicate

that Internet users increased by about 17 per cent over the past year. However, less than one-third of individuals are connected to the Internet in these countries. Africa is a late comer to digitalisation, but also a rather fast adopter of technology. Between 2010 and 2021, the internet penetration rate across the region grew from 9.6% to 33% (individuals using the internet) the International Telecommunication Union [ITU] reported in 2021. Internet infrastructure is weighed down by challenges ranging from considerable digital divides between regions and communities to the affordability of access. But as more Africans get online, there have also been improvements at the level of internet infrastructure. Tremendous shifts in terms of submarine cable connections have happened over the last 10–15 years. By 2008, only 16 African countries were connected to a submarine cable system. According to Telegeography, 71 cable systems connected to Africa are active or under construction as at 2022. “The number of cables connecting the region with other parts of the world keeps growing, and this contributes to higher internet penetration rates, reductions in the costs of internet services, stronger competition in the telecom market, and lowered risks of internet access disruptions.” SurfShark reports that the divide in internet connectivity is especially high when it comes to fixed broadband internet. Lower-income countries work 4.1 times more for 3.3 times slower internet. On the average, people living in rich countries enjoy internet speeds of 140 Mbps for a bit less than three hours of work per month, while lowerincome countries get only 42 Mbps for more than 12 hours of work. The gap is smaller when it comes to mobile internet, but only affordability wise. Lower-income countries work 1.6 times more for 3.1 times slower internet compared to highincome countries. On the average, people living in higher income countries enjoy mobile internet speeds of 96 Mbps for 1 hour 41 min of work per month, while lower-income countries get only 32 Mbps for more than 2 hours 37 minutes of work. The report says higher income does not necessarily mean that the country has affordable, high-quality internet. Other factors, such as the quality of the e-infrastructure in the geographical region, might have an even more significant impact. For example, South Africa is considered to be a higher income country, but its fixed internet speed (70 Mbps) is twice lower than the average in higher income countries. On the other hand, the Philippines - a lower income country - has three times faster fixed internet (119 Mbps) than the average in the lower income group. SurfShark further reports that the average time that people work to afford the cheapest internet in lower-income countries is up to four times higher than that in wealthier countries. Moreover, poor countries have, on the average, a three times slower internet connection. One-third (39 out of 120) of analyzed countries are classed as lower income and almost half of the global population. Across Africa, barriers to access are not only related to the availability of last-mile connectivity. In fact, affordable access to the internet remains the main challenge for the continent. In 2021, according to the Alliance for Affordable Internet (A4AI) and ITU, Africans had to pay, on the average, 6.5% of their monthly income to get 2GB of mobile data which, for example, is used to watch four hours of low-quality video on Netflix. Aragba-Akpore is a member of THISDAY Editorial Board

Recently, at the heart of the commercial city of Onitsha, His Grace, Most Rev. Dr Valerian M. Okeke, celebrated his 70th birthday. The occasion was awash with dignitaries, political leaders, the clergy, and well-wishers from across the length and breadth of the country. All came together to celebrate, and rightly so, the spiritual juggernaut and clerical icon, who remains modest and unassuming despite his ecclesiastical heights. As the Metropolitan Catholic Archbishop of Onitsha Ecclesiastical Province, his seven decades of life are a testament to a profound commitment to faith, community, and social justice as he has spent a lifetime serving the Catholic Church and the people of God. This celebratory event spoke volumes and reflected the widespread respect and love for His Grace. A moral theologian of repute and a cerebral scholar, Archbishop Okeke is an insightful student of Saint Thomas Aquinas. Like the American philosopher Germain Gabriel Grisez, His Grace, Archbishop Okeke, has made many contributions to the teachings of the Catholic Church. His works are known for their depth, rigour, and commitment, especially as they concern the Catholic moral tradition. His great works include The Measure of Love, Make Disciple of All Nations,

The Family and Human Life, Democracy and Christian Values, among over 20 others, all with a common theme that embeds the teachings of Jesus Christ. A polyglot of high proficiency, he speaks French, Italian and German fluently, in addition to English and Igbo languages. Born October 20, 1953, he had his Priestly Ordination on July 11, 1981. His clerical works started with his first posting as Assistant Priest of Holy Trinity Cathedral, Onitsha, then Parish Priest of Umuoji before he proceeded to Rome for further studies. On his return, he taught and later became the Rector of Biggard Memorial Seminary, Enugu. His episcopal journey commenced on November 9, 2001, with his appointment as Co-adjutor Archbishop of Onitsha, and on September 1, 2003, he assumed full responsibility for the Metropolitan See of Onitsha, with about eight Suffragan Dioceses namely Abakaliki, Aguleri, Awgu, Awka, Ekwulobia, Enugu, Nnewi and Nsukka. Milestones such as 70th birthdays are not mere occasions for festivity but reflective pauses that demand introspection and stocktaking. In biblical numerology, 70 signifies completion, fulfilment, and divine perfection. Psalm 90:10, often cited as underlining the

brevity of human life, the need for wisdom and a heart of understanding, gives an average lifespan of 70. This milestone, therefore, extends beyond the personal, touching the lives of the faithful and the broader community in ways that merit an introspective reflection. Indeed, the celebrations resonated far beyond the Basilica of the Most Holy Trinity walls simply because of Archbishop Okeke’s persona, contributions, and achievements. Under his leadership, the Archdiocese has seen remarkable growth and progress. His Grace has tremendously grown the Archdiocese since his 20 years at the helm. Despite excision from the Archdiocese, and the establishment of the Catholic Diocese of Aguleri, by The Supreme Pontiff, Pope Francis, on February 12, 2023, the Onitsha Archdiocese boasts impressive statistics of about 2.5 million faithful, 150 parishes, over 600 priests, and close to 800 religious individuals who fulfil various roles within the Catholic community. His Grace was a leading proponent in the crusade for the state government to return mission schools to the Churches. In November 2011, his campaigns yielded positive results. Governor Peter Obiled administration handed back to the Catholic Church over 453 mission schools taken over by the military after the Civil War. With this development, His Grace spearheaded the massive reconstruction and rehabilitation of these schools in decrepit conditions and transformed many into centres of excellence in learning. His Grace ensures that other institutions beyond the realm of worship and spirituality, like hospitals and social welfare centres, are maintained to continue offering services to the broader needs of the larger community, irrespective of denomination or religious affiliation. He has been instrumental in establishing Shanahan University in Onitsha, which has received strong backing from the government, faithful, and institutions. On a personal level, His Grace awards scholarships to enable disadvantaged students to realise their potential. He established the Holy Family Youth Village Amansi for the spiritual formation and social well-being of over one thousand Nnamdi Azikiwe University, Awka students. He conducts emergency relief interventions through the Archdiocesan Caritas Services and the JDPC Apostolate. He has contributed charitably at the Onitsha Correctional Centre, including rehabilitating a borehole that supplies water to all the cells, renovating prison cells, and establishing a skill acquisition program where inmates can learn various skills. He also visits the Centre regularly to offer hope and spiritual guidance to inmates. In recognition, the Federal Government of Nigeria, through the Chief of Prisoner Services, honoured him with the prestigious Grand Patron of Nigerian Correctional Services award. Dr Onukwuli writes from Bolton, UK; patonukwuli2003@yahoo.co.uk

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WEDNESDAY NOVEMBER 22, 2023

EDITORIAL

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

REDUCING FATALITIES ON THE ROAD All the stakeholders could do more to stem the carnage

Management Authority (LAWMA), were recently head of last Sunday’s marking of crushed to death by a hit-and-run driver. When ‘World Day of Remembrance for proper investigations are carried out seriously, Road Traffic Victims’, the Federal fairly, and consistently, according to the UN, “such Road Safety Corps (FRSC) Lagos a system is what road crash victims who have been Sector Commander, Babatunde injured or had a family member killed as the result Farinloye said 128 people lost of someone’s law–breaking or negligence deserve their lives in 376 road traffic crashes in the state and wish for, since it also represents a main factor between January and October. Almost 2000 of prevention.” people and 662 vehicles were involved in crashes According to the World Health Organisation during the period, with 237 people sustaining (WHO) Global status report on road safety launched various degrees of injuries. “The probable causes in 2018, the number of annual road traffic deaths being excessive speed, dangerous driving, and has reached 1.35 million. Road traffic injuries are overloading,” Farinloye said while pledging that reportedly also the leading killer of people aged the Lagos command would continue to deploy all five-29 years. Available reports from both the FRSC paraphernalia of enforcement and advocacy to stem and the National Bureau the rate of crashes on of Statistics (NBS) have, roads. at different times, listed Nigeria is reputed major causes of accidents as one of the countries on our roads. Accidents with high road fatalities Apart from the burden these road mishap places on the families of often occur when in the world. In every motorists drive under the victims, they take a huge toll on the national economy four hours, going by influence of alcohol or available statistics, at drugs or were distracted. least two lives are lost Other things that cause to such carnage, with vehicular accidents T H I S D AY no fewer than 25,000 of about 12 million vehicles include street racing by children of affluent parents, EDITOR SHAKA MOMODU in the country involved in accidents. Meanwhile, DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA especially in Abuja and capital cities, dangerous it is common knowledge that there are too many MANAGING DIRECTOR ENIOLA BELLO road curves, tyre blowouts, fatigue by drivers, etc. rickety vehicles on our roads. The tyres of several DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU Apart from the burden these road mishap places vehicles plying the road are threadbare, just as CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI on the families of victims, they take a huge toll on EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN their brakes are suspect. Some drivers operate in the national economy. THE OMBUDSMAN KAYODE KOMOLAFE foggy condition with one functional headlamp. To stop the carnage on our roads, we reiterate But the tragedies and mounting body count from our position that the federal government should accidents can be curbed by simple common sense consider enacting a National Road Safety Policy and inexpensive remedial interventions. that will outline various policy measures. These Instructively, the World Day of Remembrance T H I S D AY N E W S PA P E R S L I M I T E D include raising awareness about road safety, EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA for Road Traffic Victims 2023 puts the spotlight creating a road safety information database, GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, on justice. “Traffic law enforcement, thorough ISRAEL IWEGBU, EMMANUEL EFENI promoting safer road infrastructure, encouraging investigation after a crash to find out if a crime DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, safer vehicles, identifying the needs of vulnerable was committed and to prevent recurrence, ANTHONY OGEDENGBE road users, enforcing road safety laws, and ensuring criminal prosecution where appropriate and civil DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI medical facilities for victims when accidents occur. SNR. ASSOCIATE DIRECTOR ERIC OJEH compensation are all part of the justice system,” It amounts to criminal negligence that many lives ASSOCIATE DIRECTOR PATRICK EIMIUHI according to the United Nations. That also puts a are being wasted on our roads despite the promises spotlight on authorities in Lagos where two female CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO made by successive administrations. sweepers, working for the Lagos State Waste TO SEND EMAIL: first name.surname@thisdaylive.com

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LETTERS JIBRIL DUKKU: A LEGACY OF SERVICE AND INTEGRITY It was Claude Campbell, a former English professor at the University of New York who once noted that “To live in the hearts we leave behind is not to die.” This connotes that while man lives and dies, some live forever. They remain forever in the hearts of people through their contributions to the growth of the society while they lived. From the point of their demise, till eternity, they will be remembered for their compassion and the leadership they offered whilst alive. Alhaji Jibril Halilu Dukku (Bappah), who passed on to the great beyond last Friday afternoon in Gombe, after an illness that proved terminal, lives. This is because of the impact he had on humanity throughout his lifetime sojourn as a teacher, administrator and community leader. In a teaching career that saw Jibril Dukku rise to the position of Chief Planning Officer of Education, he nurtured intellectual growth and fostered critical thinking by instilling the thirst for knowledge in students thereby empowering them to become lifetime learners. With certifications from the famous Katsina Teachers College and the Dundee College of Education, Scotland, the late Dukku made immense contributions in shaping the values and moral directions of students and prepared them for future challenges. More so, in a career in administration that saw Jibril Dukku

rise to the position of Permanent Secretary in the defunct Bauchi State civil service, he upheld the ethics and regulations of the civil service thereby improving its effectiveness and efficiency. During their time, the civil service was glorious not because of any other reason than the mere fact that they were committed to discharging their duties with passion and sincerity. Jibril Dukku was particularly always at his best. As a good administrator, he had a teamwork spirit with the ability to handle new challenges and learn new things. And because the reward for hard work is more work, Dukku answered yet another call to duty when in 1984, former Bauchi State Military Administrator, Major-General Sani Sami (rtd), the present Emir of Zuru, appointed him at several times, Commissioner for Health and that of Works and Transport. Dukku contributed immensely in the achievements recorded by the Sani Sami administration in the former Bauchi state. The regime is remembered, amongst others things, for completing the projects it inherited, rehabilitated the Bauchi Specialist Hospital and boosted the agricultural and sports sectors. The Sani Sami administration ended abruptly in 1985 when retired General Ibrahim Badamasi Babangida ousted the Major-General Muhammadu Buhari led-regime in a coup. It was

at that time that the late Jibril Dukku retired from public service. He returned home to continue with his role as a teacher and community leader. He became a mentor and adviser to the younger people. He provided valuable guidance to the people of his community. As a pool of knowledge and experience, the late nonagenarian was resourceful in many ways. He never hesitated to share his experience with anyone willing to learn from him. Bappah was humble and down to earth. He welcomed anyone who visited him. For the times I visited him, he graciously engaged yours sincerely in extensive conversations. Through our conversations, I realized his Islamic public library was so dear to him. So jokingly, I requested that he should give me one of his books. Bappah outrightly said it was impossible. He went on to note that the library is for the public. So “you can go in there, read any book, leave it in the library and go.” He then told me of how Satan succeeds in making Islamic scholars commit sins. “They borrow books and refuse to return them,” he narrated while smiling. Mukhtar Jarmajo, Abuja

T H I S D AY • Wednesday, November 22, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

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REPO

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

08056356325

N o v e m b er

S & P INDEX

2 1 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Direct Remittances Up 3.74% to $1.85bn in Nine Months, September Recorded Lowest at $71m

Nume Ekeghe Data released by the Central Bank of Nigeria (CBN), has revealed that Nigeria recorded $1.855 billion direct remittances in the first nine months of 2023, an increase of 3.74 per cent compared to the $1.817 recorded in the first 9 months in 2022. The central bank in its “international payment” data disclosed that in January 2023, direct remittances accounted for $79.2 million, highlighting a steady financial inflow.

According to the CBN, February recorded $83.76 million in remittances, signalling financial stability. March saw a substantial sum of $138.6 million, showcasing consistent financial support. April followed closely with a remittance of $159.04 million. As the year progressed, May witnessed an influx of $202 million, reinforcing the nation’s financial stability. June experienced a significant increase, with $297.4 million in direct remittances, signifying steady

financial support. July recorded an influx of $241 million, maintaining a consistent financial inflow. The detailed breakdown of remittances indicates that August recorded the highest inflow of remittances in 2023 with $591 million while September saw the opposite contract recording the lowest in 2023 at $71 million. Analysts believe direct remittances will continue to improve due to an increase in immigration, removal of restrictions on domiciliary accounts and

rebound in the global economy. Speaking, Head, of Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle Olubunmi said there are more incentives to bring in remittances through the official channels adding that he foresees an increase in the upcoming data for the coming months. Olubunmi said: “Before there were a lot of restrictions on the exchange rate used but now, you notice that with the gradual lifting of the various restrictions on the operation of domiciliary

accounts, the channels in which you’re sending it played a role in this increase. Remittances have increased and remittances coming through the official channel have actually also increased. Secondly, we are also reaping the impact of the growing emigrant community we have. Because now with this Japan syndrome, a lot of people that actually are they are they’re settling down, you notice that some of them will also be sending some funds to their dependents, friends,

and family. “Thirdly, you notice that in the global economy various, economies are gradually recovering more from the pandemic. So as they are gradually recovering, Nigerians out there are making more money, and then also the ability to send more funds to siblings and friends in Nigeria has also improved.” He added: “In the near term, it is going continue especially as some of those who ‘Japa’ with loans would also be settling their back in Nigeria once they settle down.”

Despite Poor Penetration, 13 Insurance Companies Declare N57.1bn PBT Kayode Tokede Amid weak insurance penetration in Nigeria and challenging business environment, a total of 13 leading insurance companies in the country declared N57.1billion profit before tax in nine months ended September 30, 2023. This represents a 165 per cent increase over N21.51billion reported in nine months ended September 2022. The 13 insurance companies are: Cornerstone Insurance Plc, AIICO Insurance Plc, Consolidated Hallmark Insurance Plc, Lasaco Assurance Plc, Linkage Assurance Plc and Sovereign Trust Insurance Plc Others include: Veritas Kapital Assurance Plc, Coronation Insurance

Plc, AXA Mansard Insurance Plc, Mutual Benefits Assurance Plc, Sunu Assurances Nigeria Plc, NEM Insurance and Regency Assurance Plc. AXA Mansard Insurance, an insurance company that provides life and non-life insurance products and services to individuals and institutions across Nigeria, followed by Cornerstone Insurance and AIICO Insurance generated the highest profit before tax in the period under review. Meanwhile, apart from AXA Mansard Insurance that announced interim dividend declare an interim dividend of 6 kobo per N2 ordinary share, payable to shareholders on December 15, 2023, other listed insurance companies on the Nigerian Exchange Limited (NGX) have failed

to reward shareholders with interim dividend, unlike their counterparts in the banking sector. Out of the N57.1 billion PBT reported by these 13 insurance companies in nine months of 2023, AXA Mansard Insurance contributed 26.44 per cent, while Cornerstone Insurance and AIICO Insurance contributed 20 per cent and 11.8 per cent respectively. AXA Mansard Insurance in nine months ended September 30, 2023 generated N15.1billion profit before tax, an increase of 471 per cent from N2.65billion reported in nine months of 2022. AXA Mansard recorded a 44 per cent growth in insurance services to N9.08billion in nine months of 2023 from N6.3billion in nine months of

2022, primarily driven by the growth in insurance revenue. The surge in insurance revenue of AXA Mansard Insurance effectively helped offset the rising costs associated with insurance service expenses; insurance claims, among others. In the period under review, Cornerstone Insurance declared N11.43billion profit before tax from N621.1million reported in corresponding period, while AIICO Insurance posted N6.75billion PBT in nine months of 2023, representing an increase of per cent from N2.39billion reported in nine moths of 2022. THISDAY investigation revealed the 13 insurance companies generated N49.88billion profit after tax in nine months of 2023,

an increase of 142 per cent from N20.58billion reported in the corresponding period of 2022. Also, AXA Mansard Insurance led others with about N12.56billion profit after tax in nine months of 2023 from N1.5billion in nine months of 2022, followed by Cornerstone Insurance that declared N10.86billion profit before tax in nine months of 2023 from N622.62million reported in nine months of 2022. The impressive performance of these companies has impacted on the NGX Insurance Index, making it one of the best-performing indices on the bourse. As of November 17, the NGX Insurance Index appreciated by 68.44per cent Year-till-Date (YtD)

growth of 293.70 basis points. The National Insurance Commission (NAICOM) in a report disclosed that the insurance sector in the second quarter (Q2) 2023 remained profitable, recording an overall industry net loss ratio average of about 52.9 per cent, this is as the Non-Life segment’s loss ratio stood at 50.5per cent while Life business recorded a net loss ratio of 55.5per cent during the same period. “The net loss ratio of the overall market average has demonstrated an improved market image at a five points position, compared to the corresponding period. The story continues online on www.thisdaylive.com

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 2 1 , 2 0 2 3 BONDS Description Price Yield Change Updated Time (%) ^13.53 23October 100.95 12.77 0,00 31, 2023 MAR-2025 October ^12.50 220,00 31, 98.78 13.11 2023 JAN-2026 ^16.2884 17October 108.14 13.24 0,00 MAR-2027 31, 2023 ^13.98 23October 99.32 14.18 0,00 FEB-2028 31, 2023 ^14.55 26October 98.82 14.87 0,00 31, APR-2029 2023

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

NTB 26-Oct23 NTB 9-Nov23 NTB 7-Dec23 NTB 25-Jan24 NTB 8-Feb24

1.80

October 0.00 31, 2023

2.57

October 0.00 31, 2023

3.92

3.94

October 0.00 31, 2023

3.75

3.79

October 0.00 31, 2023

4.45

October 0.00 31, 2023

JULI CP II 25-OCT-23 ZEDC CP I 17-NOV-23 NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

4.39

OTC F X F U T U R E S

CPs Discount Yield 16.82

16.88

14.68

14.86

19.23

19.60

11.26

11.39

19.22

19.60

Change (%)

Updated Time

October 105,00 31, 2023 October 79,00 31, 2023 October 74,00 31, 2023 October 72,00 31, 2023 October 72,00 31, 2023

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS OCT 1 – 30 2024 NGUS NOV 2 – 27 2024 NGUS DEC 3 – 24 2024 NGUS JAN 4 – 29 2025 NGUS FEB 5 – 26 2025

Updated Time

October 31, 2023 October 31, 2023 October 31, 2023 October 31, 2023 October 31, 2023

Wednesday, November 22, 2023 • T H I S D AY

BUSINESSWORLD

News

Despite Poor Penetration, 13 Insurance Companies Declare N57.1bn PBT

Defence Minister: Caverton can Become Hub for Aircraft Maintenance in Africa The Minister of Defence, Mohammed Badaru Abubakar, has commended Caverton Helicopters management for their vision and foresight in bringing state of the art facility for aircraft maintenance to the country, thereby promoting economic growth and human capital development. The Minister gave the commendation yesterday during the facility tour of Caverton Helicopters’ Maintenance, Repair and Overhaul (MRO) situated inside the expansive

premises of Murtala Muhammed lnternational Airport, lkeja, Lagos. Badaru, who was the second Minister to visit Caverton within a month, said he was impressed by the achievements of the company. He said, “Our dream in the Ministry of Defence is to produce all the equipment that we need for Defence in Nigeria and, here at Caverton, I have seen proofs of assurance that we can partner to do it. I assure you that you have what it takes to produce what we

need and we will partner. “We are working tirelessly to make sure that in the next four years, most of these equipment we go abroad to buy will be produced locally. And from what I have seen with you, we can partner in areas of air assets.” In his remarks, the Permanent Secretary, Ministry of Defence, Dr Ibrahim Kana said, “While we were on the tour of the facility, my Honourable Minister said to me in Hausa: ‘Seeing is believing’.

He came to Lagos to see what is on ground especially at Caverton” in his getting set for the military industrial complex take off. He came, he saw and he is impressed by what he saw. He is a talk-and-do minister and will be ready to work especially with you.” In his welcome address, CEO of the company, Olabode Makanjuola described the day of visit as special because for the honour of, “hosting a very distinguished guest in the person of the Honourable

NEXIM Bank to Boost Export of Non-oil Commodities in Kwara James Emejo in Abuja The Nigerian ExportImport Bank (NEXIM) has signed a Memorandum of Understanding (MOU) with Kwara State Government as part of the bank’s effort to achieve the federal government’s drive towards job creation and economic growth through the non-oil export sector. The partnership with state governments under the bank’s State Export Development Programme, will upscale the production as well as boost the export of a vast array of agricultural and mineral commodities in the state. The MoU was signed by the

Executive Governor of Kwara State, Alhaji Abdulrahman AbdulRazaq, for the state, while Managing Director/ Chief Executive of NEXIM Bank, Mr. Abba Bello signed on behalf of the bank, during the recent 2023 Intra-African Trade Fair in Egypt. The agreement was preceded by deliberations between the two parties on the various on-going and prospective economic projects of the state government, including the industrial park, the IsDB-backed agro processing zone, the sugar processing factory, garment and Shea butter factories, solid mineral projects, and the visual arts Center, which is unique in

the West Africa sub-region. In a statement, Head, Strategy and Corporate Communications NEXIM Bank, Mr. Tayo Omidiji, said partnership will qualify agencies of entrepreneurs and exporters in Kwara to access the State Export Development Funds and other facilities upon fulfilment of relevant terms and conditions as may be agreed with the bank. It further entails the provision of financial and export advisory services which will include but not limited to working out financing arrangements, investment mix as well as facilitating export market off-take, especially for SMEs and businesses operating

in the export value chain that support women and youth empowerment. AbdulRazaq said the state has invested in different projects and adopted policy initiatives that seek to diversify the local economy. He reiterated his commitment to expand the efforts of his administration to develop the economic potentials of the state. Bello, however, said the aim of the bank was promote at least one exportable commodity in every state of the federation towards achieving the economic diversification and expansion drive of the federal government.

Coronation Insurance Lists Benefits of Health Insurance Ebere Nwoji Coronation Insurance at a recent webinar session on safeguarding health, educated Nigerians on the benefits and importance of Critical Illness Insurance. The underwriting firm during the session, urged Nigerians to see the relevance of health insurance, stating that if ordinary Nigerians understood just a few things about health insurance, the country could substantially improve general health, as millions of Nigerians would free themselves from the shackles of dependency and debt in time of illness.

Experts who spoke at the session, which has the theme, “Safeguarding your Health: The Importance of Critical Illness Insurance,” listed the benefits and importance of Critical Illness Insurance. Defining critical illness insurance, Assistant Director, Underwriting and Marketing (Life Operations) at Coronation Life Assurance, Abdul-Rasheed Akolade, said critical health insurance was a vital part of an organised arrangement any adult or individual might use in safeguarding his or her health. Also speaking, the Head, Partnership, Coronation Life

Assurance, Kehinde Grillo, said the firm had a different range of insurance covers for critical illness with premium as low as N10,000 per annum with a sum assured of N10 million or from a minimum of N500,000.00 to maximum of N20 million cover. In his contribution to the webinar, a Professional Banker and Financial Advisor, Adekanla Desalu (Deza the Great), emphasised the need for more awareness of health insurance. He noted that many people do not understand how critical they needed to take their health; how critical they needed to plan for their

health or for the health of their family members or relatives. On his part, Founder/ Managing Director, Tillit MSME Microservices, Dr. Yomi Sule, advocated the democratisation of health insurance in the country to make it more accessible and affordable to the people. He said health Insurance needed to be democratised by making it available in small packages for people – for example for those in the entertainment industry or entrepreneurs that they could just buy off the shelves.

Minister of Defence for the Federal Republic of Nigeria, His Excellency Mohammed Badaru Abubakar.” According to him, “The group takes great pride in being the leading offshore support logistics company in Nigeria” with its subsidiaries, Caverton Marine and Caverton Helicopters, equally positioned as leaders in their respective fields. “Caverton Marine started out in 1999 as a vessel owner, operator and recently diversified into designing and building GRP boats ranging from passenger ferries to security boats. Caverton Helicopters Limited is the largest indigenous aviation logistics support company in Nigeria, with over 2 decades of experience providing rotary and fixed wing services to the oil and gas industry. We currently operate a mixed fleet of aircraft across multiple locations in Nigeria and West Africa.” One of the key achievements of the company, he said, was

establishment of the MRO facility that he described as the only world-class in sub-Saharan Africa, right on ground in Lagos, Nigeria. According to him, “This facility has allowed us to deliver light and heavy maintenance, repair, and overhaul services to our clients. We are honoured to have had the opportunity to serve the Nigerian Navy, Airforce, and other government agencies, ensuring the safety and reliability of their aircraft. In his presentation, Rotimi Makanjuola, told the minister that Caverton has bases in Nigeria including Lagos, Warri, Port Harcourt, in Cameroon and now about to extend to the Gambia and Senegal. He gave a brief about images in the MRO and training centres, enthusiastically saying the company has trained 200 pilots who are now flying here in Nigeria and in other countries.

Stakeholders Laud Creation of Maritime and Blue Economy Ministry Adibe Emenyonu in Benin City Maritime stakeholders have expressed optimism on the newly created Ministry of Marine and Blue Economy where they lauded its creation and called for the injection of more experts in its management to meet its targets. They stated this at the 14th Annual General Meeting and Lecture of the Nigerian Maritime Law Association (NMLA), which also elected a new leadership for the association. Delivering the keynote address titled, “Urgent regulatory reform in the maritime industry: Setting the agenda for the new administration,” in Benin City, capital of Edo State, the Chairman, Benin River Port, Greg Ogbeifun, called on the managers of the new ministry to be willing to listen to advice and make the right decisions. He however said, “They have not started well. We wish industry practitioners were brought into the top leadership to head the place, but again we are grateful that the administration of President Bola

Tinubu has set up that ministry. They have appointed the people they want to appoint, but I hope they are ready to understand the sector and take decisions on that. We all have to try and help them but after that first appointments, in the immediate layers, the people there should be professionals.” He said one of the problems of the seaports in Nigeria is aging infrastructure as there is no opportunity for expansion in the seaports as development has encroached into them and called for regulatory reforms in the sector to fix it. Earlier, the President of NMLA, Mrs Funke Agbor (SAN) while commending the Edo State government for its support for the meeting, said the association has been at the forefront of ensuring that maritime related legislations and treaties which Nigeria is a signatory are domesticated to boost the industry just as she urged practitioners to explore the opportunities that the new ministry provides.

T H I S D AY • Wednesday, November 22, 2023

BUSINESSWORLD

INTERVIEW

Balogun: Fixing of Meter Prices Affecting Manufacturing Firms’ Viability In this interview, the Chairman, MOMASS Electricity Meters Manufacturing Company (MEMMCOL), Dr Kola Balogun, speaks on sundry issues impacting the electricity supply industry. He maintains that fixing the prices of meters is negatively impacting the viability of manufacturing firms in the sector. Emmanuel Addeh brings the excerpts. Would you say the banking sector has contributed to the power sector in any way in Nigeria? t is a known fact that bank loans are run on double-digit interest rates which make it difficult for manufacturers to really break-even when they access bank loans. Aside this, the distribution end of the power sector value chain is highly regulated and off-take as well as prices are determined by the government. The major scheme put in place by the regulatory agency which is the MAP scheme is a retail model and it is not suitable for manufacturing, thereby affecting energy meter manufacturing growth. On the energy meters price fixing, this is also not appropriate, considering the increasing exchange rate and the fact that most of the meter components are sourced from overseas. This is making the business not to be viable anymore. This is also not allowing for competitiveness. Equally, control of meter off-take is affecting the commercial of energy meters. Sadly, Nigerians are craving energy meters but because of the system in place, it is making it difficult for people to have access to energy meters. So, with all these bottlenecks, accessing bank loans is not really useful in the sector because you can not obtain bank facilities to produce energy meters without off-take.

been running generators because power around the Lagos/Ibadan expressway is not too good for sensitive industrial activities like our factory. This is because, in our production processes, there must not be fluctuation or power outage during the production processes. Today, the cost of diesel per litre is now N1,300 and we use 33,000 litres in a month. The implication of this is that the bulk of our revenues goes into energy supply leaving us with nothing in terms of profit.

Have you had difficulties accessing funds, particularly foreign exchangedominated funds for importing raw materials? Unfortunately, we have been buying forex from the parallel market for the last 12 years because successive governments in the country have not been concerned about the need to prioritise the provision of forex through the official window for the manufacturers. They seem to have forgotten that the real sector is key to the development of the economy through job creation. We buy forex from the black market to procure raw materials from abroad and after the production, we are compelled to sell at a fixed price. The meter prices were reviewed in October 2021 before the recent review that was done in September 2023. What would you say are the achievements of MEMMCOL within the last 10 years post-privatisation? MEMMCOL is the leading manufacturer in the downstream of the power sector. We are duly recognised and certified as an Original Equipment Manufacturer (OEM) in the power sector where we have demonstrated passion, commitment, patriotism, and professionalism through innovations that are at par with best-known global practices. There have been notable inventions like the prepaid energy meters, vending/billing management applications and support services, meter boxes of all kinds, single and three phase Din Rail smart electricity meters, dual tariff electricity meters, etc. Under CAPMI, we deployed 250,000 meters, while under MAP it was 120,000 and then we have deployed 160,000 meters under the National Mass Metering Programme. How has these impacted job creation? MOMMAS is a pacesetter in the downstream of the power sector. We are responsible for some of the notable inventions in the sector, ranging from the invention of a software billing application system for the Distribution Companies (Discos) and the invention of a manage-

Balogun

ment application system. How are the various taxes and levies affecting the manufacturing or importation of electricity meters? Well, the Value Added Tax (VAT) and other tax elements are huge burdens on manufacturers, especially in the power sector because the cost of doing business in the country is extremely high because of multiple taxations from the state, local, and federal governments. This is coupled with the high cost of energy production which is affecting business profitability. This is why compliance has not been effective. The government needs to look into all these issues, create an enabling business environment identify genuine manufacturers, and put policies in place for growth support for the manufacturers. Taxes, port charges, import charges, and multiple layers of charges are a burden that negatively affect manufacturing businesses and trading in the metering value chain. So, what changes would you like to see in the tax system? Governments need to, first of all, streamline the tax structure in such a way that it will be minimal, then look into the infrastructural challenges across the country that are affecting business and address the challenge. It needs to prioritise forex availability for manufacturers at the official window, put policies in place to incentivise local manufacturers, create zero per cent interest loans for manufacturers to enable production to thrive and make import Duty and Port Charges zero for the importation of raw materials and pieces of machinery to encourage production. This will to a great extent bring about local production, boost the economy through job creation, increase exports, and strengthen our currency. Also, the government needs to take very seriously the distribution end of the value chain in the power sector because it is responsible for revenue generation

which guarantees cost recovery and this can only be achieved through metering and power infrastructure. So, the government needs to support local meter manufacturers by addressing some of the challenges affecting the growth of the sector. Another problem with the sector is the different types of energy meters in the country which is seriously affecting manufacturing. The federal government has to enforce the adoption of a single specification of electricity meter in the country. This, if done will give direction to production and it will give effect to backward integration because by so doing, the different players in the sector can then choose the convenient area of specialisation on any of the components and this will make production complimentary. In the long run, some of the components that are produced in the sector would as well be useful in other sectors of the economy and a lot of industries and jobs will be created. There is a need for the government to liberalise metering supply in the country by removing the statutory control of the government on meter supply and meter prices with a view to opening up the sector for easier accessibility to electricity meters by Nigerians and to give effect to the forces of demand and supply to determine the prices of meters. This will enable manufacturers to have the freedom to sell their products at competitive prices, it will create a lot of jobs for Nigerians through dealership and retailing of electricity meters; it will guarantee cost recovery in the sector as more Nigerians will have energy meters and distributions companies too will have improved revenue to sustain the entire value chain in the power sector. It is believed that the unreliable power supply in the country is also affecting meter manufacturers in the country. Since we commissioned our factory 13 years ago in Ogun state, we have

What in your opinion should the government do differently to improve grid stability and reliability in Nigeria? Since the old NEPA was unbundled and privatised, it has not really lived up to expectations as the power situation in the country has not really improved. As a stakeholder in the sector with over 40 years of experience and having been responsible for some of the notable inventions in the sector, I am bold to say that that sector needs the government’s urgent intervention. This should be done by way of setting up a committee comprising of eminent and experienced experts who are knowledgeable about the sector to appraise and review the performances of the generating companies, transmission companies, and the distribution companies. This is with a view to having a proper overview of the sector and reviewing the existing policy framework in order to reposition the sector for better performance. According to the federal government report, the energy meter need in the country as at 2020 was put at 10 million and this was what informed the first notable intervention in the sector by the government. The federal government tagged it the National Metering Programme where the Central Bank of Nigeria (CBN) is mandated to provide fund for energy meter off-take from the established and recognised local energy meter manufacturer in the country. This is one of the landmark achievements of former President Muhammadu Buhari, and this must be sustained. Phase zero of the scheme has been concluded since 2021 with 1 million energy meters freely given to Nigerians. Phase one of the scheme is stalled because of the unrealistic fixed contract prices for a contract that is expected to be completed in one year considering the increasing inflation, unstable foreign exchange, and foreign exchange accessibility to the manufacturers to be able to procure raw materials from oversea and technical specification review. The challenges recorded in the intervention have made it necessary for all the fundamental issues militating against development downstream of the sector to be addressed. Firstly, it is sad that it is only in the power sector that manufacturers are compelled to sell their products at regulated prices. We have been advocating for the liberalisation of the sector by removing the statutory control on meter supply and meter prices with a view to opening up the sector for easier accessibility to electricity meters by Nigerians and to give effect to the forces of demand and supply to determine the prices of meters. This will enable manufacturers to have the freedom to sell their products at competitive prices and it will create a lot of jobs for Nigerians through dealerships and retailing of electricity meters.

WEDNESday, NOVEMBER 23, 2023 T H I S D AY

business/MOnEYGUIDE

C & I Leasing Projects Nigeria’s GDP Growth Trajectory Emmanuel Olorunda-Otaru C & I Leasing Plc, has said Nigeria’s Gross Domestic Product (GDP) is expected to reach $489.80 billion by the end of 2023, going by analyst’s global macro models and expectations. In the long term, the company said Nigeria’s GDP is projected to trend around $508.41billion in 2024 and $525.70 billion in 2025. These projections were given by the company’s GMD/CEO, Ugoji Lenin Ugoji, during a virtual presentation of the company’s “Facts Behind the Figures Q3 2023,” in Lagos. He said the inflation rate in the country is expected to reach 28 per cent by the end of 2023 adding, “Inflation rate is projected to trend around 21 per cent in 2024 and 17 per cent in 2025 as oil production improves and the new government settles in. According to him, the

financial highlights Q3 2023 of the company were: “Gross earnings of N16.3 billion, up 9% y-o-y, driven by growth of our marine business, representing 69% of total gross earnings for the 9-month period; Net operating income of N8.5billion, up 10% y-o-y mainly driven by growth in marine business; Profit after tax of N414.1 million, up 12% y-o-y, was achieved through a combination of top line growth, cost reduction initiatives and optimal utilization of assets; Basic earnings per share of 42 kobo, up 221% y-o-y, due to higher earnings; Year-to-date growth in total assets by 25% to N72.1 billion, driven by assets being held in currencies other than local; Capital Adequacy Ratio increased 800 basis points to 35% on the back conversion of $10m convertible note.” On the steps to take to overcome the ongoing FX crisis, he said the Central Bank of Nigeria

(CBN) remains in the best position to advise the government. He added that C & I Leasing had to increase its forex revenues and reduce forex loans to avoid asset mismatch, which gave the company good stability to withstand turbulence. On his part, the company’s Group Head, Treasury, Babatunde Oguntunrin, said the company would ensure an optimal equity, short and long term capital mix that will maximize all stakeholders’ return. He said the company plans a N50billion Commercial Paper Issuance, with most of the funding targeted at asset acquisition. According to C & I Leasing’s Chief Finance Officer, Okey Nnake, the company had gross earnings of N16.3bn, up nine per cent y-o-y, driven by growth of its marine business, representing 69 per cent of total gross earnings for the nine-month period.

Lagos Free Zone Woos Nordic Investors with Ease of Doing Business Lagos Free Zone, a subsidiary of Tolaram and the first privatelyowned and port-based free zone in Nigeria, attracted investors from the Nordic countries to boost investment and foreign direct investment into the country. They were encouraged to set up businesses within the zone, capitalizing on its exceptional infrastructure, incentives and ease of doing business. Speaking during the Breakfast Session of the Nordic Nigeria Connect 2023 conference held in Lagos on Tuesday with the theme, “Innovation for a Greener Future,” the Managing Director/CEO Lagos Free Zone,

Mr. Dinesh Rathi, revealed that the zone remains the most preferred and viable investment destination in Nigeria with its unparalleled ease of doing business and the unique incentives available for investors. Dinesh noted that Nigeria has all the ingredients needed to catapult itself to a regional hub, considering the quantum of world-class facilities and infrastructure available at the zone. He explained that the Lagos Free Zone remains the ideal destination for investment in Nigeria

with huge investment in infrastructure, including gas, ready-to-lease warehouses, and factories, as well as being the only free zone in Nigeria integrated with a deep-sea port, which makes it easy to bring in raw materials, and export finished goods. “Nigeria is one of the strongest economies in Africa with potential for further economic and industrial activities owing to the presence of natural resources and favorable demographics, with a population of 219 million representing 20 percent of Africa and a GDP of $509 billion (17% of Africa),” he said.

Unity Bank Grants 30 NYSC Entrepreneurs N10m Nume Ekeghe Unity Bank Plc has extended N10 million business grant to 30 members of the National Youth Service Corps (NYSC) who took part in the 10th edition of the Bank’s flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge. The bank in a statement, noted that the winners, included upcoming entrepreneurs developing innovative solutions in several business value chains. The value chains include honey production, rice, and snail farming, among others

and these claimed top positions after participating in a business pitch that took place across 10 state NYSC Orientation Camps – Katsina, Kano, Kwara, Imo, Rivers, Delta, Sokoto, Edo, Akwa-Ibom, and Osun stated recently. Speaking during the grand finale in Akwa Ibom State, Unity Bank’s Head of Retail and SME Banking Group, Dr. Opeyemi Ojesina said the Unity Bank Corpreneurship Challenge has earned its pride of place in Nigeria as one of the country’s foremost business incubation platform and entrepreneurship

development. He said, “Unity Bank has sustained this Corpreneurship Challenge for the past five years, and throughout the period we have witnessed the tremendous impact it has had on youth empowerment and job creation in the country. And I believe that the innovative approach to entrepreneurship which the programme has adopted has enabled us to seamlessly integrate financial support, mentorship, and skill development to foster the growth of aspiring entrepreneurs.”

Ekiti: CSOs Harp on Accountability in Public Procurement Gbenga Sodeinde in Ado Ekiti In order to ensure transparency and accountability in the process of governance, stakeholders came together in Ekiti state to brainstorm on enlightenment processes to be able to sensitize and educate the citizens on their right in following guidelines for necessary inquiry on government activities to achieve openness for the benefit of the people . This was the focus of a workshop organized by the Public and Private Development Centre, PPDC in Ado-Ekiti, the state capital with support from MacArthur Foundation.

The sensitization program tagged Sub-National Public Procurement Boot Camp was attended by relevant stakeholders in the state which include Civil Society Organizations, CSOs, media, Bureau of Public Procurement, BPP in the state, Ministry of Justice. A senior communication officer of the PPDC, Nnenna Eze stated that the purpose of the program was to empower citizens to ensure people get value for money and better service delivery. He said, “At the end of the day, when people know how to actively hold government

accountable then they can speak out, that for instance, this school in my community is not working, no tables and desk, structure is not good, toilets are not good, when citizens are aware of the right channels, it empower citizen to be able to hold government accountable.” Also speaking, a PPDC’s Senior Program Advisor, Ife Olatunji David explained that the project is funded by MacArthur Foundation with the aim of improving transparency and accountability in public procurement sector at sub national level.

L – R. Group Managing Director, Alpha Morgan Capital, Mr. Ade Buraimo, University Librarian, University of Lagos, Professor Yetunde Zaid and Vice Chancellor University of Lagos, University of Lagos, Prof. Folasade Ogunsola at the handover of the cheque for the remodelling and upgrading of the University of Lagos Library by Alpha Morgan Capital... recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, 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 23, 2023

mARKET NEWS

NGX Partners ISDBI to Deepen Islamic Finance in Nigeria KayodeTokede In a bid to further deepen the capital market in Nigeria through the issuance of Islamic Finance instruments, Nigerian Exchange Limited (NGX) and Islamic Development Bank Institute (IsDBI) collaborated on a capacity-building workshop for Issuers and Investors. The workshop, held in Lagos yesterday aimed to educate

stakeholders on contemporary issues and practices of Islamic finance in different jurisdictions and furnish them with case studies and success stories. Themed “Economic Growth and Business Development Opportunities Through the Islamic Capital Markets,” participants were able to gain more understanding of how Islamic finance can drive inclusive growth and sustainable business practices in

P R I C E S MaiN Board

F O R DEALS

Nigeria. The Executive Director, Capital Markets, NGX, Mr Jude Chiemeka whilst delivering the opening remarks underpinned the potential of Islamic Finance in Nigeria. “According to Fitch Ratings, the size of the Nigerian Islamic finance industry is estimated at $2.9 billion at end-2022, with outstanding sukuk being the largest segment at 57per cent, followed by Islamic banks at 42 per cent (total assets), and the

S E C U R I T I E S Market Price

quantity traded

remaining one per cent between Islamic funds (total assets) and takaful (total contributions),” he said. Chiemeka added, “With Nigeria having a significant Muslim population of about 53 per cent of the country’s over 200 million population, the long-term potential of Islamic finance in Nigeria is indeed significant. “It has increased access to banking services for underserved Muslim populations, promoted

T R A D E D

value traded ( N )

MaiN Board

A S O F

access to finance for small- and medium-sized enterprises (SMEs) through its risk-sharing characteristics, and provided suitable financing options for infrastructure projects through Sukuk, which can spur economic development and attract private sector investment.” Delivering a presentation on applying Islamic Finance to Nigeria’s economy, Senior Islamic Finance Specialist, IsDBI, Mr Syed Faiq Najeeb said Islamic finance

in Nigeria can take the form of partnership and solidarity-based models. He noted that since Islamic finance is focused on real economic-activity based financing and investment like infrastructure and real estate financing with strong principles of governance, ethics and fairness, it portends great opportunity for value creation as players may have fewer competitors.

N OV E M B E R / 2 1 / 2 3 DEALS

Market Price

quantity traded

value traded ( N)

WEDNESDAY, NOVEMBER 22, 2023 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 20Nov-2023, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 286.51 286.51 51.99% Afrinvest Plutus Fund 100.00 100.00 9.23% Nigeria International Debt Fund 342.90 342.90 6.80% Afrinvest Dollar Fund 109.51 109.51 5.80% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 29.38 30.26 33.86% ARM Discovery Balanced Fund 645.99 665.46 23.93% ARM Ethical Fund 53.53 55.14 18.65% ARM Eurobond Fund ($) 1.17 1.17 3.78% ARM Fixed Income Fund 1.15 1.15 3.65% ARM Money Market Fund 1.00 1.00 9.49% ARM Short Term Bond Fund 1.06 1.06 2.20% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 101.7 101.7 11.86% AVA GAM Fixed Income Naira Fund 1,123.72 1,123.72 4.92% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 190.30 191.64 41.08% AXA Mansard Money Market Fund 1.00 1.00 9.49% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.21 2.21 9.40% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.95 3.02 33.83% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 7.27% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 24.84 25.34 41.23% Women's Investment Fund 196.50 199.53 39.21% CHD Nigeria Bond Fund 101.38 101.38 12.54% CHD Nigeria Dollar Income Fund 1.03 1.03 11.20% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.95% Cordros Milestone Fund 160.64 161.69 25.10% Cordros Fixed Income Fund 106.57 106.57 10.33% Cordros Halal Fixed Income Fund 108.52 108.52 11.30% Cordros Dollar Fund ($) 113.69 113.69 6.20% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 10.43% Coronation Money Market Fund 1.44 1.45 26.50% Coronation Balanced Fund 1.36 1.36 0.13% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.30% Legacy Debt Fund 3.56 3.56 -0.39% Legacy Equity Fund 2.62 2.67 31.10% Legacy USD Bond Fund 1.32 1.32 4.66% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A FSDH Dollar Fund N/A N/A N/A

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.76 1.80 14.94% Lotus Halal Fixed Income Fund 1,199.92 1,199.92 9.66% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 16.89 17.03 44.86% Meristem Money Market Fund 10.00 10.00 11.91% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 103.34 103.34 11.91% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.47% Norrenberger Dollar Fund (NDF) ($) 102.83 102.83 11.20% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.14 2.18 35.91% PACAM Fixed Income Fund 11.92 12.11 7.37% PACAM Money Market Fund 10.00 10.00 9.92% PACAM Equity Fund 2.35 2.38 65.29% PACAM EuroBond Fund 128.71 131.68 15.49% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 148.80 153.46 18.37% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.10 1.10 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,723.92 4,761.64 39.35% Stanbic IBTC Bond Fund 255.34 255.34 8.39% Stanbic IBTC Ethical Fund 1.95 1.97 55.56% Stanbic IBTC Guaranteed Investment Fund 349.27 349.40 11.56% Stanbic IBTC Iman Fund 368.22 372.57 57.63% Stanbic IBTC Money Market Fund 1.00 1.00 10.39% Stanbic IBTC Nigerian Equity Fund 17,284.69 17,497.85 58.33% Stanbic IBTC Dollar Fund (USD) 1.45 1.45 12.45% Stanbic IBTC Shariah Fixed Income Fund 127.29 127.29 8.88% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 124.68 124.68 17.20% Stanbic IBTC Absolute Fund 4,954.48 4,954.48 16.46% Stanbic IBTC Aggressive Fund 5,054.03 5,116.78 81.78% Stanbic IBTC Conservative Fund 5,152.17 5,166.35 35.27% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.26 1.27 37.71% United Capital Balanced Fund 1.74 1.75 34.45% United Capital Wealth for Women Fund 1.35 1.35 25.22% United Capital Sukuk Fund 1.17 1.17 11.61% United Capital Fixed Income Fund 1.94 1.94 6.89% United Capital Eurobond Fund 123.59 123.59 5.56% United Capital Global Fixed Income Fund 1.07 1.07 8.39% United Capital Money Market Fund 1.00 1.00 10.14% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 18.08 18.28 30.46% Zenith ESG Impact Fund 21.47 21.70 35.85% Zenith Income Fund 25.24 25.24 7.14% Zenith Money Market Fund 1.00 1.00 10.91% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 7.20 7.30 78.54% Vetiva Consumer Goods Exchange Traded Fund 11.48 11.58 95.66% Vetiva Griffin 30 Exchange Traded Fund 25.50 25.70 43.96% Vetiva Money Market Fund 1.00 1.00 10.07% Vetiva Industrial Goods Exchange Traded Fund 28.05 28.25 40.17% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS

NAV Per Share

Yield / T-Rtn

127.91 55.85 101.79 9.88

12.40% 5.34% -13.49%

Bid Price

Offer Price

Yield / T-Rtn

20.90 440.00 660.00 22.06 30.62

23.10 440.00 660.00 22.16 30.72

41.73% 241.83% 554.44% 51.24% 82.72%

NAV Per Share

Yield / T-Rtn

108.40

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

EXCHANGE TRADED FUNDS

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

I N F R AST R U CT U R E F U N D

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

T H I S D AY • WEDNESDAY, NOVEMBER 22, 2023

Wednesday, November 22, 2023

Thisday Afrinvest Index up 16bps

Thisday Afrinvest 40 index gained 16bps to close at

THISDAY AFRINVEST 40 INDEX

3323.62 index points following price appreciation in GTCO

(0.5%). ZENITH (0.2%), and LAFARGE (1.4%), Cumulatively,

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

these stocks account for 16.0% of the index. Domestic Bourse Reverses Loss... ASI up 8bps At the close of trade yesterday, the domestic bourse rose 8bps to 71,066.64 points due to rally in WAPCO (+1.4%), GTCO (+0.5%) and UBA (+0.7%). Resultantly, YTD return rose to 38.7% (previously 38.6%), as market capitalisation gained ₦31.8bn to close at ₦39.1tn.

Ticker

Current Price

Previous Price Change

THISDAY AFRINVEST 40

3323.62

0.16%

Current Price Change Weighting YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

40.7%

232.4%

18.0%

3.9%

4.8x

1.1x

5.4%

14.2%

BUA Foods PLC

202.80

0.0%

23.5%

212.0%

49.4%

54.0%

18.0%

29.3x

14.3x

2.5%

3.4%

MTN Nigeria Communications PLC

239.50

0.0%

7.6%

11.4%

-12.4%

85.8%

8.6%

20.6x

16.3x

6.5%

4.8%

Airtel Africa PLC

1,790.00

0.0%

11.4%

9.5%

35.6%

10.0%

3.1%

2.4%

Guaranty Trust Holding Co PLC

37.30

0.5%

7.0%

62.2%

6.6%

38.3%

5.6%

2.6x

0.9x

8.8%

38.5%

Zenith Bank PLC

33.20

0.2%

5.9%

38.3%

-3.1%

27.6%

3.0%

2.3x

0.5x

10.1%

42.7%

FBN Holdings Plc

20.00

0.0%

4.4%

83.5%

17.3%

24.9%

2.3%

2.6x

0.5x

2.5%

38.9%

4.2%

25.7%

15.1%

40.4%

15.3%

12.7x

4.2x

6.1%

7.8%

3.1%

24.6%

1.4%

11.6%

7.9%

10.0x

1.1x

6.7%

10.0% 69.5%

Dangote Cement PLC

328.00

0.0%

Lafarge Africa PLC

29.90

1.4%

United Bank for Africa PLC

20.80

0.7%

4.2%

173.7%

69.8%

39.5%

3.9%

1.4x

0.4x

6.7%

3.2%

98.9%

50.0%

1.5%

0.8%

53.8x

0.9x

3.3%

1.9%

1.8%

-4.5%

-16.0%

5.9%

-3.2%

SEPLAT Energy PLC

2,100.10

0.0%

Nestle Nigeria PLC

1,050.00

0.0%

Access Holdings PLC

17.25

0.3%

3.8%

102.9%

85.5%

20.5%

1.5%

2.3x

0.4x

9.3%

44.1%

65.00

0.0%

2.2%

94.3%

20.4%

31.5%

3.4%

6.4x

1.8x

5.4%

15.6% 67.0%

-6.1%

Activity level was mixed as volume traded

rose by 37.1% to 491.4m units while value traded declined

Ecobank Transnational Inc

16.00

0.0%

1.9%

50.9%

5.3%

24.4%

1.2%

1.5x

0.4x

3.2%

Okomu Oil Palm PLC

240.00

0.0%

1.5%

45.5%

2.1%

38.0%

19.4%

12.0x

5.9x

1.9%

8.3%

Nigerian Brew eries PLC

39.00

0.0%

1.1%

-4.9%

-13.3%

-39.6%

-9.3%

2.9x

3.5%

-18.1%

Fidelity Bank PLC

8.90

1.7%

104.6%

27.1%

26.2%

2.1%

2.8x

0.7x

5.6%

35.7%

Flour Mills of Nigeria PLC

32.00

0.0%

0.8%

12.7%

-6.2%

6.0%

1.0%

11.2x

0.7x

7.1%

8.9%

Transnational Corp of Nigeria

6.14

0.2%

1.6%

443.4%

74.9%

11.9%

3.0%

17.0x

2.0x

0.8%

5.9%

International Brew eries PLC

4.50

-2.2%

0.8%

-4.3%

-13.5%

-37.7%

-9.3%

AXA Mansard Insurance PLC

4.59

4.3%

0.9%

129.5%

16.2%

40.5%

11.3%

3.1x

1.0x

2.6%

32.4%

FCMB Group Plc

6.80

-1.4%

0.8%

76.6%

33.3%

17.7%

1.7%

2.6x

0.4x

3.7%

39.1%

PZ Cussons Nigeria PLC

23.00

0.0%

0.6%

102.6%

4.5%

35.2%

10.0%

6.2x

2.1x

4.4%

Guinness Nigeria PLC

65.00

0.0%

0.5%

-6.2%

-18.8%

-24.1%

-7.9%

Dangote Sugar Refinery PLC

61.00

0.0%

1.3%

280.1%

144.0%

2.2%

0.5%

260.7x

5.9x

2.5%

0.4%

185.00

0.0%

0.5%

34.5%

3.9%

45.9%

13.7%

9.0x

3.6x

4.7%

11.2% 10.3%

by 26.1% to ₦3.2bn.

Bullish Sector Performance Sector performance within our purview was bullish as four

Stanbic IBTC Holdings PLC

1.0x

-39.1%

2.4x

16.2% -12.9%

Presco PLC

United Capital PLC

16.85

0.9%

0.5%

20.4%

7.0%

22.9%

1.6%

9.7x

1.7x

8.9%

BUA Cement Plc

104.00

0.0%

0.4%

6.4%

12.7%

25.0%

12.6%

34.9x

8.6x

2.8%

2.9%

index closed flat. The Insurance index was the biggest gain-

NASCON Allied Industries PLC

57.00

0.0%

1.0%

413.5%

204.8%

60.2%

19.8%

5.5x

1.8%

18.3%

TotalEnergies Marketing Nigeri

385.00

0.0%

0.3%

er, rising 2.1% following price uptick in

99.5%

10.0%

28.3%

3.9%

9.1x

2.4x

7.1%

11.0%

Wema Bank PLC

5.18

0.0%

0.2%

32.8%

-2.1%

23.1%

1.3%

3.0x

0.6x

5.8%

33.7%

Jaiz Bank PLC

1.60

-1.2%

0.2%

73.9%

-4.2%

29.8%

2.0%

5.9x

1.9x

31.3%

16.8%

MANSARD (+4.3%) and WAPIC (+6.7%). Trailing, the Bank-

Geregu Pow er PLC

399.00

0.0%

0.3%

167.8%

33.0%

24.6x

2.0%

Union Bank of Nigeria PLC

indices gained, one lost while Oil & Gas

6.65

0.0%

0.2%

3.9%

-9.5%

15.8%

1.6%

5.4x

0.6x

34.80

0.0%

0.2%

42.0%

12.3%

12.7%

1.6%

5.6x

0.7x

7.5%

22.4%

-12.9%

10.0%

5.0%

12.6x

1.2x

1.8%

197.2%

102.6%

3.2%

3.8x

18.5%

ing, and Industrial Goods indices rose 46bps

35 36

Unilever Nigeria PLC

14.20

0.0%

0.1%

and 8bps respectively, following gains in UBA (+0.7%), FI-

Oando PLC

11.65

-3.7%

0.2%

Conoil PLC

86.50

0.0%

0.1%

226.4%

4.2%

41.0%

16.3%

5.0x

1.8x

3.1%

Transcorp Hotels Plc

44.40

0.0%

0.2%

610.4%

89.7%

6.9%

3.7%

99.6x

6.8x

0.3%

Notore Chemical Industries Ltd

62.50

0.0%

-140.7%

-24.8%

DELITY (+1.7%), WAPCO (+1.4%). Price appreciation in CWG (+5.1%) and OMATEK (+9.5%) pushed

Julius Berger Nigeria PLC

Conversely, the Consumer Goods index declined 4bps on the back of losses in CHAMPION (Ͳ10.0%) and INTBREW (Ͳ2.2%).

Outlook

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

LEA R N A F R C A

3.08

10.0%

UN IT YB N K

75.4

9.4%

NNFM

28.85

9.9%

UN IVIN SUR E

61.4

0.0%

9.8%

M B EN EF IT

46.6

3.8%

30.4

0.0%

15.15

M ULT IVER SE

4.38

9.8%

J A P A ULGOLD

VER IT A SKA P

0.34

9.7%

VER IT A SKA P

29.9

9.7%

OM A T EK

1.04

9.5%

ST ER LIN GN G

19.6

0.5%

UN IT YB N K

1.40

9.4%

F ID ELIT YB K

17.1

1.7%

R T B R ISC OE

0.60

9.1%

UB A

17.0

0.7%

M C N IC H OLS

0.86

8.9%

C ILEA SIN G

17.0

4.0%

J OH N H OLT

1.70

8.3%

J A IZ B A N K

16.1

-1.2%

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

T o p 10 L o s e r s

Investor sentiment, as measured by market breadth, strengthened to 0.55x from 0.29x in the prior

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

C H A M P ION

3.24

-10.0%

VF D GR OUP

481.8

0.0%

session as 44 stocks advanced, 8 declined, while 65 re-

OA N D O

11.65

-3.7%

UB A

352.9

0.7%

IN T B R EW

4.50

-2.2%

Z EN IT H B A N K

292.7

0.2%

FCM B

6.80

-1.4%

A C C ESSC OR P

211.6

0.3%

J A IZ B A N K

1.60

-1.2%

A IR T ELA F R I

189.2

0.0%

ELLA H LA KES

3.74

-1.1%

F ID ELIT YB K

152.8

1.7%

UA C N

17.90

-0.6%

GT C O

135.6

0.5%

H ON YF LOUR

3.12

-0.3%

M TNN

109.2

0.0%

UN IT YB N K

105.3

9.4%

C ILEA SIN G

94.1

4.0%

mained flat. Today, we expect the market to follow similar trend in the absence of any major cata-

lyst.

Afrinvest West Africa Limited

20.0% 1.0% -71.9%

T ic k er

C A D B UR Y

T ic k er

7.9% 26.1%

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

T o p 10 G a i n e r s

the AFRͲICT index higher by 1bp.

17.9%

P ric e C hg %

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

T H I S D AY • WEDNESday NOVEMBER 22, 2023

Education How MTN Scholarship Rekindled Students’ Hope for Better Future In this interview with Funmi Ogundare, some MTN Foundation scholars shared how the scholarship has taught them to be resilient through hard work and helped them to forge ahead in their studies

Miss Albert Favour Anthony

iss Favour Anthony, 24, is a 300-level University of Jos student studying Special Education and Rehabilitation Science. Before admission into the university, she was bubbling with life, and everything seemed to work perfectly for her. At some point, she had the opportunity to work with special needs people and even enjoyed the affection she got from working with them. However, fate played a cruel one on her in 2020 when she lost her sight due to poor handling of the eye problem by the hospital. Mr. Ahmed Junaid Adebowale, a 200-level student of Better By Far University of Ilorin, studying English Education, was born blind. As the last born of a family of six, he has had to overcome several challenges just to see himself through school. Miss Adeola Anifowose is a 300-level student of Guidance and Counseling at Lagos State University, the second of a family of five with a widowed mother to cater for her and her siblings. Anifowose, who is visually impaired, also had to struggle through her academics. Anthony, Adebowale and Anifowose are among the 300 MTN Foundation scholars who have benefitted from its annual scholarship of N200,000 and have maintained a Cumulative Grade Point Average (CGPA) of 3.0/4 or 3.5/5 for STEM students and 2.0/2.5 for blind students. The flagship programme has been running

Mr. Junaid Ahmed Adebowale since 2010 and is open to eligible 300-level students studying science and technology-related courses in Nigerian public tertiary institutions. The eligibility criteria for the scholarship are; institution of study, course of study, level of study and Cumulative Grade Point Average (CGPA). The organisation created three scholarship categories to cater to the diverse needs of exceptional scholars, including the MTN Science and Technology Scholarship (MTNSTS), open to those who have completed their second semester 200 level examinations and going to 300 level, as well as students currently in their 300 level studying science and technology related courses in Nigerian public tertiary institutions. The MTN Scholarship for Blind Students (MTNSBS) is open to 200 and 300-level blind students in any Nigerian public tertiary institution and the top 10 UTME scholarships. “I read my admission letter with my two eyes in 2019. It was when I was to resume school that the whole problem started in 2020. I had a retina detachment and there was medical manhandling by the hospital,” Anthony told THISDAY. “I have done like four different surgeries and it has led to the problem.”

Miss Adeola Anifowose

Miss Ijeoma Edith Nwosu

She explained that she decided to study Special Education and Rehabilitation Science because that is where her passion lies. “Before I became visually impaired, I worked with special people and loved them. Little did I know that something like that would happen to me. When I lost my sight completely, it was as if all hope was lost, but It actually made it easier for me to adapt.” She said despite the increase in school fees from N45,000 to more than 100,000, the scholarship has helped her to pay her school fees and accommodation, as well as registration. Anthony noted that since her father retired and her mother engaged in petty trading, the scholarship has helped relieve them of the financial burden. “I have three other siblings and four of us are in the university, so this scholarship has relieved the burden of my parents,” added the student. “I was determined and I told myself that if others are making it, I can also make it. If you have the passion, a way will be opened and a direction and inspiration will come through.” She advised the foundation to keep up the good work as they have been able to impact lives, adding since they are offering the scholarship to STEM students and persons with visual impairment, they should add other persons with other clusters of impairment, such as the physically challenged persons, people with hearing impairment, among others.

Adebowale, with a CGPA of 4.52, stated that he applied for the scholarship to cater for his educational needs, including payment of school fees, study materials and everything surrounding the education of blind persons. He listed some challenges a blind student may face in school, such as discrimination and lack of accessibility to study materials and infrastructure. “Many times you suffer discrimination in the classroom. You are not properly included. You have to struggle for inclusion. We only practice inclusion on paper and not what it really is. The University of Ilorin lacks a good resource room for blind persons,” stated Adebowale. “For instance, if you are buying books from your faculty or department and the book has 150 pages, as a blind person, I will buy the printed copy of that book and then take it to a business centre where it will be scanned for me to be able to read it. Imagine you buying a book for N1,000 or N700 and you have to scan it at N100 per page, so you can imagine how much you have to pay.” Adebowale said the scholarship had helped as he was able to buy himself a laptop and pay for his accommodation compared to when he had to borrow things from colleagues. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Accugas Awards Scholarships to 50 Akwa Ibom Students, Rewards Outstanding Teachers, Principals Accugas Limited, the midstream subsidiary of Savannah Energy PLC, has announced the award of full university scholarships to 50 students from Akwa Ibom State through the Savannah Energy Education and Internship Training (SEE-IT) programme. The 50 students, who were selected through a rigorous screening process led by university professors, were awarded the scholarships during the SEE-IT 2023 annual teachers/scholarship awards held recently in Uyo, Akwa Ibom State. The SEE-IT scholarship packages cover full tuition, accommodation, textbooks and living costs for the duration of the beneficiaries’ university education in Nigeria. The SEE-IT programme is a collaboration

between Accugas and the Inoyo Toro Foundation, a non-profit educational foundation based in Akwa Ibom State to enhance access to quality education in the state. The programme also presented awards to 19 secondary school teachers, three principals and five mentors of secondary school teachers, who have positively impacted their students in public secondary schools. The awards covered five subjects: Biology, Chemistry, English, Mathematics and Physics. The Managing Director, Savannah, Nigeria, Pade Durotoye, said education

is an important part of its sustainability strategy, where the first pillar focuses on promoting socio-economic prosperity within the countries in which it operates. “As a company, we have invested over US$1bn in Nigeria, especially in the South East, to deliver projects that matter. We are delighted and proud to be able to impact so many lives and I am particularly pleased that we are offering full university education scholarships to the 50 students until they graduate. We plan to add more students to the SEE-IT scholarship programme every year as we see this as an important investment in one of our country’s greatest future resources, the young people around us. “What we are hoping to do, in partnership

with the Inoyo Toro Foundation, is to support our society to deliver excellence in education, accessible not only to those who can afford the high fees in private institutions, but also to those in our public schools.” Governor Umo Eno of Akwa Ibom State, represented by the Commissioner for Education, Mrs. Idongesit Etiebet, said: “This annual event has become a reference point in our public-private partnership arrangements in the education sector of the state. It has registered impressive records since its inception, particularly in areas of scholarship awards to these loving students and the recognition of the immense contributions of hard-working teachers and principals of public secondary schools in the state.

Grooming Centre, H&M Reward Students’ Creativity About 32 private and public schools participated in the fifth edition of the Hands and Minds Schools competition held recently at the Dome, David Christian Centre, Amuwo-Odofin, Lagos. The event, themed ‘Beauty in Diversity’ and sponsored by microfinance giant Grooming Centre, saw over 500 pupils in attendance, with representatives of 27 schools participating in the dance, music and creative art competitions. Three schools made it to the podium in each category, with the winners, first and second runners-up, taking home flat-screen televisions, printers and table fans, respectively, both in the senior and junior levels. Co-founders of Hands and Minds educational

consult, Mr. Laurence Ekpe and Iziegbe Ekpe, who have been the chief organizers of the annual competition, shared more light on the theme of this year’s competition, also commenting on the growth of the competition over time as public schools are now getting involved. “At H&M Consult, we believe in holistic education. We are quite aware that there are a lot of platforms that reward children for academic excellence, but we know that there are children whose talents are not limited to the classrooms,” the founders explained. “They have the arts and creatives in

them, yet there are not a lot of platforms for them to showcase or harness their talents.” The Amuwo-Odofin local council Supervisor for Education, Hon. Bimpe Doherty, said the event was something every stakeholder should be involved in. “It’s helping our children to be able to express themselves in diverse ways because education is beyond the classroom. So we need more of this to happen in our society,” noted Doherty. “Amuwo-Odofin local government is already drawing up plans to create more of this kind of competition among schools, and it is going to come through my office. We are already doing some of it, only that we will now make

it happen in a broader way to have more impact in society.” The education supervisor also called for a more advanced partnership between the public and private sector in delivering quality education in Nigerian society, saying the government cannot do it all. She also lamented the dilapidated structures in public schools, the increase in the number of unqualified teachers, and the issue of drug abuse among students. Meanwhile, character and values coach Uncle Sele also played a major role as one of the judges at the event. Music educator David Igbineweka and Little Miss Rainbow beauty pageant founder Preere Opuofoni joined him.

T H I S D AY • WEDNESday NOVEMBER 22, 2023

Property & environment Dexdee Golf Resort, an Iconic Real Estate for Leisure, Entertainment Bennett Oghifo Dexdee Golf Resort, is a piece of real estate, renowned for its picturesque landscape, and is a one-stop centre for leisure, entertainment, creativity, and training, Strategically located in the ancient Benin Kingdom, Edo State, Dexdee Golf Resort is easily accessible, just a 35-minute flight from Lagos and 45 minutes from Abuja. Attendees can expect not only thrilling sports competitions but also an immersive experience in a serene, unspoiled landscape that reflects the rich cultural heritage of Ekae GRA. Nestled in the heart of Ekae GRA, Benin City, Edo State, the resort is set to become the epicenter of sports, leisure, and entertainment from November 24th to 26th, 2023. Dexdee Golf Resort invites enthusiasts, corporate organizations, and private individuals to a

three-day extravaganza. This multisport event not only promises thrilling competitions featuring 60 elite golfers, power bike enthusiasts, lawn tennis players, scrabble aficionados, and the glamour of models and fashionistas but also carries a broader socioeconomic agenda. By opening its doors to private individuals and corporate organizations, Dexdee Golf Resort aims to foster collaboration, networking, and economic opportunities within and beyond the sporting arena. The event’s strategic location in the ancient Benin Kingdom holds significance, contributing to local tourism and showcasing the cultural richness of Edo State. Dexdee Golf Resort, through its multisport extravaganza, is poised to attract visitors, thus creating a positive ripple effect on the local economy, including hospitality, transportation, and retail sectors. Furthermore, the

inclusion of diverse sports and entertainment elements reflects Dexdee Golf Resort’s commitment to inclusivity and community engagement. By bringing together participants and spectators from various walks of life, the event serves as a platform to bridge societal gaps, promote unity, and celebrate the diversity inherent in Nigeria. In addition to being a spectacle of sportsmanship, Dexdee Golf Resort’s event underscores the potential for sports and leisure to drive economic development, foster community cohesion, and create lasting positive impacts. As the prestigious venue opens its gates to this multifaceted gathering, it invites stakeholders to join hands in not just witnessing a sporting extravaganza but actively contributing to a socio-economically vibrant future of Benin City. Dexdee Golf Resort is a premier destination for leisure, entertainment,

and training, situated in the enchanting Ekae GRA of Benin City, Edo State, Nigeria. Boasting a meticulously designed

golf course and a range of recreational facilities, Dexdee Golf Resort is committed to providing a unique and

memorable experience for its guests while driving positive socio-economic impacts in the region.

Dexdee Resort, Ekae GRA, Benin City, Edo State

Loss of Lagos Wetlands Fuels Flooding Bennett Oghifo Lagos has lost almost all its wetlands to housing developers, which is one of the reasons for the massive flooding experienced even with the lightest rainfall. Another reason is that residents block the drains and canals by turning them to dumpsites for solid wastes. Wetlands are those spectacular water catchment areas that hold storm water and prevent it from flooding homes. Not too long ago, there were wetlands on both sides of the Lekki-Epe road and on the Lagos-Ikorodu and everywhere else. These wetlands were home to marine life, birds visit, rare flowers

sprout in these lakes, but they are all gone. The downside is that storm water that should be held in these wetlands now flood homes. Wetlands are daily being encroached upon and no one seems to be bothered. This is the reality and it is worsened by the bad habits of some of the residents who dump their solid wastes in drainages and canals, causing storm water to flood the streets and homes. Also, Lagos’ topography makes flash floods inevitable, but it could drain itself naturally and this is where the wetlands come into play as they serve as buffer and retention places for excess

storm water until the water is able to flow into the lagoon or rivers or dry up. However, some wetlands hold water round the year. In most neibourhoods, people actually dump solid wastes in canals and drainages, even with the barricades the government erected to prevent such abuse. They don’t want to pay LAWMA to evacuate their waste. Flood water erodes the surfaces of roads, and destroys other vital infrastructure, causing so much pain to the government and those who did not contribute to the problem. Many roads have been washed away by storm water, and everyone suffers the effects

of bad roads as they move from one place to another for whatever reason. The government will have to go back to repair the same roads that were rehabilitated last year. Not because the job was poorly done, but because of abuse. There is also an ongoing abuse of the state’s urban and regional planning laws, as shanties and illegal structures sprout at every conceivable space with some attached to perimeter fences of public and private buildings. There is little or no consideration for the safety of occupants in times of emergencies. Property owners cherish and value the revenue from the shops more than the lives of

the residents. Petty traders take over walkways designed for pedestrians, thus forcing pedestrians to compete with vehicles on the major axial roads at the risk of their personal safety. Even those who hire shops are never satisfied with the size of the tenement they paid for. They prefer to display their wares including products that should not be displayed in the sun on the walkways. Regrettably, the supposedly elite, who have widely travelled, throw waste out of the windows of their luxury cars onto the roads. They park on the roads obstructing other road users just to buy from hawkers and when the

government insists that traders should use only designated places (the market and malls) some, including Civil Society Organisations (CSOs) will allege war against the poor. The Lagos State Government has stepped-up its environmental regeneration and urban renewal drive, Governor, Mr. Babajide Sanwo-Olu has demonstrated the political will to reverse this ugly trend. Through the renewed efforts to regenerate the environment, illegal structures are being removed from drainages and with the drains desilted, while popular markets like Computer Village, Ladipo, Alamutu, Mile 12, Jankara, among others, were shut temporarily for cleanup.

AG Mortgage Bank Presents 3-bedroom Bungalows to Family Show Winners family with a home. For been pressing on to do in the the country and the selection • Insists on affordable home ownership drive every instance, if a home is provided next five years of our corporate of participants of the television Ndubuisi Francis in Abuja

A major player in the mortgage sub-sector, AG Mortgage Bank (AGMB) Plc has devised an innovative approach to bridge the gap in the nation’s housing deficit, targeting the provision of 1,000 livable and affordable homes annually. Presenting two units of fully-furnished three-bedroom bungalows at the Grand Luvu Estate in Masaka, Nasarawa State to the winners of the bank’s 2023 edition of the ‘Big Family Dream Show’, the Executive Director/

Chief Operating Officer (COO) of the primary mortgage institution, Mr. Simon Ogwu stated that the bank was desirous of making livable and affordable home ownership easier. Ogwu said: “We are a mortgage institution and real estate finance institution and our primary goal is to make sure we provide every family in Nigeria with a livable and affordable home. “In achieving that, we realize that people need to understand how market penetration is done. A lot of people don’t understand

that they can own homes through a mortgage platform in this country. “So, our aim and objectives is to ensure that we drive down culture of home ownership through mortgage creation and you cannot access mortgage if you don’t understand the culture of savings because there is a portion that is called the personal stake which is your equity payment that is required to access a composite sum which we called a mortgage. “We have this understanding that we need to provide

for a family consisting of a father, mother and ideally three children, it means five human beings have shelter over their head. If 100 homes are achieved in a year, 500 souls would be given homes. “If we are able to achieve our target of providing at least 1,000 livable and affordable homes yearly for Nigerians, that means we are providing 500,000 people accommodation every year. “AG mortgage bank is decisive about this and this is our dream in the last three years and this is what we have

existence and we want to scale up as much as possible.” He disclosed that the bank came up with the show as part of overall measures to actualise its drive for more Nigerians to own livable and affordable homes, adding that “the Big Family Dream Show’ is a reality television programme that helps families to understand the culture of savings and financial management towards home acquisition.” The show, categorised into the ‘evangel’ and ‘secular’ groups started with an audition across

programme, culminating in the eventual winners who won a unit three-bedroom bungalow each. While Rev. Bassey Kalu won the evangel category, the Dickson Oyetayo family emerged victorious in the secular category. Presenting the keys to the winners, Ogwu observed that it takes a bank with the credibility and doggedness which AGMB is noted for to keep to its promise at a time the economic fundamentals steadily headed south, contrary to the situation at the commencement of the show.

NIESV Charges Associates to Promote Positive Changes in Organisations, Economy Fadekemi Ajakaiye The newly inducted Associates of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) have been advised to see themselves as change agents that will promote positive changes in their professional organisations and in the Nigerian economy. “You must see your new calling as admission into the global network of professionals

who have committed themselves to be change agents in their practices and in private lives, and who have resolved to promote positive changes in their professional organisations and the Nigerian economy at large,” said the President/Chairman of The Council, ESV Johnbull Osarumen Amayaevbo, during their induction in Lagos, recently. He said, “The induction of new Professional Members to

our great Institution always gives us great joy as we recognize that the quality of membership of any professional body naturally defines its influence and relevance in the society. I am therefore very pleased to congratulate the impressive array of up and coming Estate Surveyors and Valuers before me on your admission into the Associate status. “I rejoice with you for attain-

ing this important milestone in your pursuit of professional development. I congratulate you for the bold steps you have taken to become Professional Members of this noble Institution where you will be exposed more to the profession and what it offers with a view to preparing you for professional practice. “Your induction as Associate members of the Institution is a product of determination,

resolve and hard work in the last two or more years. I congratulate you for passing the required qualifying Professional Examinations, for successfully completing two years internship, Test of Professional Competence and for meeting every other requirement for admission into the Professional Membership of the Institution. “I would like to point out to you that your admission into

the Professional Membership today is a call to service. You must make yourself available for service by supporting the objects of the Institution and the leadership where and when it is required. “I do not want to take anything for granted regarding your knowledge of the profession. I therefore enjoin you to go through what the profession is all about and its expectations from you.

T H I S D AY • WEDNESday NOVEMBER 22, 2023

CITYSTRINGS

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

Security Chieftain Commends NSA, Urges Enhanced Performance

Nuhu Ribadu Stories by Chiemelie Ezeobi

equel to what has been described as uncommon display of maturity and professionalism by the National Security Adviser (NSA) Mallam Nuhu Ribadu over the recent attack on the President of Nigerian Labour Congress (NLC) in Owerri, a security analyst and Managing Director/Chief Executive Officer of Badinson Security Limited, Mr. Matthew Ibadin has commended the NSA even as he has encouraged him to do more for Nigeria in a manner reminiscent of the solid foundation he laid for the Economic and Financial Crimes Commission (EFCC) as its pioneer Chairman/Chief Executive Officer. In a press statement, weekend, in Lagos, Ibadin who took a swipe on some government officials and security agents of the Nigerian state that often display arrogance in the course of duty asked them to borrow some leaf from the NSA who truly believed that attacking the NLC boss in whatever guise was an abuse of fundamental human rights and against the rule of law. He pointed out that the NLC President is a highly revered office that must be respected just like the offices of Governors, Ministers, traditional rulers and so on are

Ibadin treated with dignity. He hailed the NSA for the prompt arrest of those who brutally attacked the NLC President, Comrade Joe Ajaero, adding that the action of government should not just end at the arrest but diligent prosecution of the suspects and adequate punishment if found guilty. While commending the Nigerian Labour Congress and the Trade Union Congress for calling off the nationwide strike embarked upon by the two unions largely over the attack on Ajaero, the security chieftain advised the two unions to understand that the present administration was just finding its feet and should therefore not always resort to strike to avoid total break down of law and order. To enhance a cordial relationship between the government and trade unions, Ibadin advised the Federal Government to have a very strong negotiating team and always adopt the alternative dispute resolution mechanism. This according to him would prevent a reoccurrence of the nationwide strike during which Nigerians lost of billions of money

for two of the strike. On the issue of insecurity in the country, the Badinson Security boss has advised the NSA to step up his collaborative efforts with security agencies in the country to track down suspected sponsors of Boko Haram insurgency, Indigenous People's of Biafra (IPoB) and other economic sabotage group like oil thieves and their collaborators in the Niger Delta region. He contended that the NSA should coordinate the arrest of the oil thieves. Further, he advised the NSA to ensure that rather than position themselves as competitors in the nation's security space, the security agencies should collaborate more intimately since synergy would guarantee a better security performance. Ibadin noted that prior to the emergence of the Bola Ahmed Tinubu administration, there had been reports in the media of certain arrests of personalities connected with the sponsorship of insurgency, banditry, kidnapping particularly in the northern parts of the country, but the matter seemed to have been swept under the carpet. He recalled specifically the arrest and deportation from Egypt of Mr. Tukur Mamu in 2022 for allegedly collecting a whopping sum of N2billion on behalf of the terrorists who kidnapped passengers from a Kaduna-bound train in March,

2022. Not much has been heard about the incident anymore, he said. He observed that one of the problems besetting adequate investigation into such matters is the lack of crime data information. Ibadin regretted that security agencies in the country have been unable to share crime information due to lack of accurate crime data record. He has therefore advised the NSA to revisit such cases which were treated with levity by the Muhammadu Buhari administration even as he reminded Ribadu that it is his duty as the NSA to advise the President on matters concerning intelligence and making recommendations to him. While emphasising the fact that interagency synergy is central to the objectives of the Office of the National Security Adviser, Ibadin pointed out that the role of the NSA transcends mere coordination of the three major intelligence agencies and other security agencies, but to act in such other matters on security as the President deems it fit. As the lead agency in internal security, the security analyst has urged the NSA to use his position to ensure that a special intervention fund for the Nigeria Police Force as the police cannot do magic in solving security challenges which are capable of driving away foreign investors.

LASG, JTF Commence Monitoring, Assessment on Child Protection

he Lagos State Government through the Joint Task Force on Implementation of the Executive Order on Safeguarding and Child Protection has commenced monitoring and assessment across the Six Education Districts in the state. The members of the Joint Task Force comprise top level representatives of the Office of Education Quality Assurance, Ministry of Education, Ministry of Youth and Social Development, Lagos State Safety Commission, State Universal Basic Education Board, Child Protection Network and Lagos State Domestic and Sexual Violence Agency. According to the Executive Secretary of the Lagos State Domestic and Sexual Violence Agency, Mrs. Titilola VivourAdeniyi, the monitoring exercise which began on the 31st of October at the Lagos City College, Sabo-Yaba has so far engaged over 200 schools in Education Districts 4 and 5, whilst over 90 schools have been visited to ascertain and measure compliance in these districts. On the spot assessments were conducted at the schools to confirm the practical implementation of the policy and identify strengths and areas for improvement. Whilst speaking at the engagement, representative of the Office of Education Quality Assurance, Mr. Kamaldeen Akodu elaborated on the need for schools to

Vivour-Adeniyi put precautionary measures in place to ensure a safe learning environment.

Similarly, representative of the Ministry of Youth and Social Development, Mr. Jubril Yakub informed school administrators of

the essence of the exercise, highlighting the fact that it is not punitive in nature rather corrective. He further explained the reporting procedures to be adopted in schools. Representative of the Lagos State Safety Commission, Mrs. Ajoke Oshokoya emphasized on the importance of having safety measures in schools. According to her, certain security measures such as having security personnel, safety equipments, conducting safety training, well maintained facilities for a hazard free environment, are expected to be put in place to ensure the general well-being and security of students, staff and visitors. It would be recalled that the state government in December, 2016 ratified the Executive Order (NO.E0/AA08 of 2016) establishing the Safeguarding and Child Protection Policy. The policy is to be mandatorily adopted by all child centred institutions to ensure that the rights of children in their care are safeguarded and adequately protected even as clear cut protocols for handling reports and disclosures of abuse are clearly defined. The ultimate aim of the monitoring exercise is to ascertain the level of adoption and implementation of the Executive Order across all six education districts in Lagos State.

T H I S D AY • WEDNESDAY, NOVEMBER 22, 2023

NEWS

LAGOS STATE OFFICIALS VISIT SAMSUNG...

L-R: Group Head of Services, Samsung Nigeria, Ibukun Adewole; Executive Secretary, Lagos State Technical and Vocational Education Board, Ronke Azeez; Managing Director, Samsung Electronics West Africa, Charlie Lee; PHOTO SUNDAY ADIGUN Director, Partnerships, LASTVEB, Oluwo Olawale; and Head of Marketing Samsung, Chika Nnadozie, during the visit of the Lagos State officials to Samsung office in Lagos… on Monday.

Obi: Our Courts Are Now Courts of Favour, Procurement, Not Justice Urges Nigerians, CSOs to speak out, challenge situation Says Obasanjo’s position on democracy out of concern

Chuks Okocha in Abuja The presidential candidate of Labour Party (LP) in the February 25 general election, Peter Obi, yesterday, challenged Nigerians to voice out and ask questions on why the country’s courts were transforming into courts of favour and procurement rather than courts of justice and law. Obi spoke in his Abuja office Monday night during an event to mark the centenary celebration of the Inter-Party Advisory Council (IPAC). He said the situation was worrisome and IPAC, civil society organisations (CSOs), and Nigerians, generally, should be consistent in their demand for good governance. Obi also spoke on former President

Olusegun Obasanjo’s recent statement that the Western style of democracy, which many African countries practised, was not working for the continent. He said Obasanjo should not be misconstrued, as spoke out of concern for the people. He lamented, “We now have a situation, where known party card-carrying members of political parties, who were even involved in thuggery, are being appointed to be referee in our coming elections.” The LP presidential candidate challenged IPAC, civil society, and the people, in general, to resist anything that tended to undermine democracy and good governance. But he said such resistance must be civil and within the law.

According to him, “IPAC should question why 90 per cent of our elections end up in courts, with huge resources that should be channelled to the people’s welfare being used for litigations. They should voice out why our courts have become courts of favour, courts of procurement, rather than courts of justice and the law.” Obi made reference to the three recent contradictory governorship election cases involving three state governors of the opposition parties, saying, “Look at what is happening in Zamfara, Kano and Plateau and others states, my party is not in any of them but we are all affected by injustice. My concern is to do what is right. “Look at the election that hap-

pened recently in Kogi and others. Nobody is talking about those who were killed. We do not talk about such ugly situations as killings, or maiming because human lives no longer mean anything to us in this country. “Everybody is watching something we know as wrong. That is why IPAC and civil society should voice out in defence of democracy and good governance. I have said it before. It’s not about who will benefit today or tomorrow. I have said it before. Nobody is buying fuel cheaper. Nobody is buying food cheaper because he belongs to the ruling party. “My advice is that the parties must come together and work for the people in defence of democracy

FIRS Raps Int'l Oil Shipping Firms, Seeks Compliance with Domestic Tax Laws James Emejo in Abuja The Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has said that non-domestic companies shipping crude oil from Nigeria must strict comply with the country's tax laws in their operations. Adedeji gave the charge in Lagos at a workshop on taxation of non-resident shipping companies organised by FIRS in conjunction with Oil Producers Trade Section (OPTS). He said the tax compliance exercise commenced by FIRS on the activities of foreign shipping companies lifting hydrocarbons from Nigeria was part of measures aimed at widening the tax net in order to grow revenue for the government. In a statement by his Special Adviser on Media, Mr. Dare Adekanmbi, Adedeji, however, assured the international companies that the agency was only interested in ensuring compliance with extant tax laws and not out to disrupt their operations. He said Section 14 of the Companies Income Tax Act (CITA) 2004 (as amended) makes it mandatory for foreign companies engaging in shipping and air transport operations in Nigeria to file tax returns to continue to carry out their businesses within the country. The FIRS boss, who prior to his appointment as FIRS chairman was Special Adviser on Revenue

to President Bola Tinubu, reminded the companies about how his intervention had earlier led to the six months grace period given to them to regularise their tax returns. The international shipping companies have up to December 31 to reconcile their books with the Service, the statement added. He explained that the purpose of the workshop was to address challenges associated with tax compliance by the foreign companies and find a lasting solution. He said, "The federal government has set a target of increasing Nigeria’s tax to GDP ratio to 18 per cent within the next three years. "The goal is to achieve this without imposing additional taxes but by broadening the tax net. The compliance exercise on international shipping companies lifting crude oil from Nigeria is in line with this strategy of broadening the tax net. "I am sure all the international shipping companies that we contacted are aware of the importance of complying with tax laws in the various jurisdictions they operate." He said, "Therefore, I urge the international shipping companies that are not complying with Nigerian tax laws to begin to do so immediately. "The Service has noted the concerns raised by stakeholders in the oil and gas industry and the maritime sector regarding the tax compliance exercise initiated on international shipping companies

lifting crude oil from Nigeria. "I wish to state that the Service is aware of the economic importance of the sector and has no intention of disrupting operations, rather the objective is to instil compliance with Nigerian tax laws." Continuing, he said, "Please recall that as Special Adviser on Revenue I facilitated an intervention on this matter in June this year. "This resulted in the six-months

grace period granted to non-resident shipping companies to regularise their tax affairs and contribute their fair share to the revenue of the country. The grace period will expire at the end of this year. "Furthermore, upon assuming the role of Executive Chairman of FIRS, I emphasized the importance of collaborating with stakeholders to address challenges associated with tax compliance.

and good governance. You can see today that there is a gradual erosion of the tenets of democracy. “IPAC must rescue the situation and ensure that the resources are properly channelled for the people’s welfare. Our political compass is headed in the wrong direction. So, there is need for the parties to come together to be able to rescue the situation.” The LP candidate also advised Nigerians to “take the issue of governance very serious. We need to ensure that only those who are competent, who have capacity, who have integrity and can serve faithfully, that can use the resources of the nation for effective production are allowed to hold positions.” Addressing the need for cooperation among political parties, Obi said, “You are talking about coming together for election purposes but that’s not what I’m talking about. I am talking about coming together for good governance and making sure that the people are well governed. “The difference is that when coming together is for election purposes, it’s self-serving and often transactional. But if it’s for good governance, we can all come together.” On Obasanjo’s recent views on democracy, Obi said the former president’s position should not be misconstrued, as “he is worried, like every patriotic person, the way our democracy is going and is bold in his usual way offering solutions. “For example, if you look at

democracy in America, where we even copied the presidential system, there are so many things that we have abandoned. In the US, office of the First Lady only exists in name merely for domestic purposes, not for a bogus budget that should be deployed in critical areas for development. “In America, if the president chooses to entertain people, you pay for the food. If he chooses to have different dishes, you pay for it. So, you can order fish from Japan at your own expense. You don’t have renovations of different houses for the president with public funds when the people are dying of basic things, such as food and health care. “These are the issues we have to look at. What suits us and how we can manage our resources, expenses, and everything. That is what Obasanjo is saying; that we adopt what suits us.” Ahead of the 2027 presidential election, Obi admonished journalists to stop asking questions about another election, when the country was still in a critical situation. He said, “My dear, let’s not talk about election. We have critical problems happening now. We should all come together, even you as a journalist should look beyond the elections. People are dying of hunger and you are talking of election. I have said repeatedly that Peter Obi is not desperate to be Nigerian President but is desperate to see Nigeria work, especially for the poor.

Buhari Failed Nigeria, North Should Wait Till 2031, Arewa Think Tank Declares Says no evidence of what ex-president did with $87bn loan Pleads Tinubu should be allowed to serve eight years in office

Kingsley Nwezeh in Abuja

After a hard look at former President Muhammadu Buhari's eight years in office, a northern group, Arewa Think Tank, yesterday, declared that the Buhari-led federal government failed Nigeria. The group, therefore, said the North should wait till 2031 before taking another shot at the presidency, after President Bola Tinubu's expected two terms of eight years would have elapsed. It also warned that the North should not consider running for the 2027 presidential race, in view of the gentleman's agreement between the North and South.

The group, in a statement by Alhaji Muhammad Yakubu, anchored its position on fears that a presidency under a northerner would be of no benefit to the people of the region, citing the eight years of Buhari as wasteful years to Northern Nigeria. It said only a few northerners would enjoy the benefits of democracy if another northerner emerged president in 2027. The statement said, "Arewa Think Tank's position on this is that from experience and history, the last eight years that Buhari was in power, he did not change the fortunes of the North, the North did not benefit anything. I am sorry to say, each time a northerner is at the helm

of affairs, a few people around the president and in the corridors of power that are benefiting. "Look at the eight years of Buhari, from Abuja to Kaduna, to Kano Road, they have not been able to complete the roads in eight years. This was the highway that was done by former President Ibrahim Badamasi Babangida in less than three years. We can't see what Buhari did with all the money he borrowed. "Our people were more improvised under his administration. It was during his tenure that Nigeria became the poverty capital of the world. Jonathan built Almajiri schools during his regime. Buhari could not

build one and he could not maintain the one that Jonathan built. So, it was a very few northerners and their families that were around Buhari that benefitted from him. North as a region and as the people did not benefit." Rationalising why Tinubu should be allowed to run the country for eight years, the group said, "Now, we have a southern president in Tinubu. He gave North Minister of Education and Minister of State for Education, Minister of Defence, and junior Minister of Defence, substantive Minister of Agriculture, and the junior Minister of Agriculture and Minister of Budget and Economic Planning.

WEDNESDAY, NOVEMBER 22, 2023 • T H I S D AY

NEWS

2023 LAIF Awards...

L-R: Vice Chairman, Lagos Advertising and Ideas Festival (LAIF) Management Board, Mr. Henry Akpede; Director General, Advertising Regulatory Council of Nigeria (ARCON), Dr. Lekan Fadolapo; Head, Event and Public Relations Committee, LAIF Management Board, Mrs. Colette Otusheso; Chairman, LAIF Management Board, Mr. Jay Chukwuemeka and Executive Board Member, Association of PHOTO: SUNDAY ADIGUN Advertising Agencies of Nigeria (AAAN), Mr. Lanre Adisa during the 2023 LAIF Awards held in Lagos… recently

High Underemployment Rates Stifling Nigeria's Progress, Says German Agency NBS: 90% of workers operate in insecure environment

Onyebuchi Ezigbo in Abuja As the federal government and stakeholders continue the search for solutions to the prevailing unemployment crisis in Nigeria, the German International Development Agency - Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has cautioned that high underemployment rates are hindering the country's progress. Quoting the Nigeria Bureau of Statistics (NBS), GIZ- GmbH which is a German federal enterprise engaged in the implementation of Skills Development for Youth Employment - SKYE” in Nigeria also said that there is a high rate of people working in the informal sector in Nigeria and in a potentially unprotected work environment estimated to be at above 90 percent of the total workforce. Speaking at a 2-day conference organised by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, a German federal enterprise with worldwide operations, held on Monday and Tuesday in Abuja, Team Leader of GIZ SKYE, Dr. Detlef Barth, said that there is a corresponding high rate of underemployment resulting in frustration amongst the youths in the country. While speaking on the topic: "Addressing Labour Market Challenges through Delivery of Innovative

Employment Services” Barth said the conference was aimed at adopting sustainable models drawn from best practices observed in other regions, and establishing structured and sustainable working groups between ministries, private sector and international organizations on specific topics. His words: "I stand before you today with a sense of purpose and urgency, recognizing the important role that innovative employment services play in addressing the challenges of Nigeria's labour market. "In Nigeria nearly two-thirds of the 220 million people are under the age of 25. According to a former Minister of Education the future of Nigeria, both as a nation and a key player on the African continent, depends on its youth. But high unemployment and underemployment rates hinder their progress. The Nigerian National Bureau of Statistics reported a youth unemployment rate of almost 54 percent in 2022. "Also, the high rate of people working in the informal sector and therefore in a potentially unprotected work environment is estimated by the NBS to be at above 90 percent of the total workforce. "This goes along with a high rate of underemployment. These are not mere numbers but human and social tragedies. Human capital is not utilized, and a generation of frustrated young

people might be the consequence." The conference which sought to find innovative solutions to address the pressing challenges within Nigeria's labour market was put together in collaboration with the Federal Ministry of Labour and Employment. The GIZ SKYE programme aimed to use the conference as a starting point for a more youth and practice-oriented PES in Nigeria. Barth said the first objective of this conference is the exploration of best practices within Public Employment Services (PES), adding

that there is the need to investigate and identify optimal practices that can be adapted and implemented to the context in Nigeria. In addition, he said the second objective is to facilitate multistakeholder engagement and commitment at this conference and beyond. "Our third objective centers on the presentation and discussion of strategic direction plans and overarching topics. We will delve into the National Employment Policy, the Youth Employment Action Plan, job matching in other countries and

The federal government has reiterated the importance of women to the growth of the nation’s Gross Domestic Product (GDP), insisting that guided steps must be taken to protect them and ensure that they are not left behind in the push for economic recovery. Speaking at the formal launch in Abuja, Tuesday, of the second phase of the Rule of Law and Anti-Corruption (RoLAC II), a programme supported by the European Union (EU) and implemented by the International Institute for Democracy and Electoral Assistance (IDEA), the Minister of Budget and Economic Planning, Senator Atiku Bagudu, said there is the need for promotion of full participation of women in the economy. He noted this would represent

a strategy to substantially improve socio-economic indicators such as GDP growth, employment generation and poverty reduction. He noted that enhanced performance of the criminal justice system and justice service delivery, increased transparency and accountability of anti-corruption systems and reforms in Nigeria are required for equity and robust participation of economic agents in all sectors of the economy. He added that, “Beyond gender parity, ensuring that women thrive in Nigeria society also involves protecting vulnerable women from Sexual and Gender Based Violence (SGBV) and enforcing existing Child’s Rights Laws.” Bagudu, represented by Director (International Cooperation), Federal Ministry Of Budget And Economic Planning, Dr. Lanre Adekanye, while recognizing the success of RoLAC

those voluntarily seeking to relocate back to the country with relevant information. Key international and African stakeholders in attendance included: the World Association of Public Employment Services (WAPES), the International Labour Organization, the Ministry of Public Service, Labour and Social Welfare from Zimbabwe, the Ministry of Youth Affairs and Civic Education from Cameroon, the Department of Higher Education in South Africa, the Kampala City Authority in Uganda and many others.

Akeredolu Justifies Alleged Three-month N7.3bn Unapproved Spending on ‘Contingency’ Fidelis David in Akure

Governor Oluwarotimi Akeredolu of Ondo State, Tuesday, justified his administration's alleged approval of over N7.3billion for “contingency” between July and September 2023, while he was on medical vacation in Germany. This came after a report that the Akeredolu-led government had in the last nine months spent over N8,169,005,150.58 on “contingency” instead of the N1,069,000,000.00

appropriated and approved in the 2023 budget by the Ondo State House of Assembly, suggesting that N7,100,005,150.58 was allegedly illegally spent above the budget ceiling on “contingency”. However, Akeredolu in a statement through his Chief Press Secretary, Richard Olatunde clarified that the referenced N7.3 billion constituted the cumulative amount of palliative funds received from the federal government, noting that the funds were allocated under the

FG Insists Women Are Important in Push for Economic Recovery

Michael Olugbode in Abuja

PES in relation to migration. This is crucial to understand PES from different angles to strengthen it," he said. Panellists at the conference said that since the search for employment opportunities is one key motivation for migration, it is necessary for appropriate information to be provided for those leaving the country and wanting to make headway abroad. They also said that the focus of the National Public Employment Services should be to prepare both those seeking to migrate out of the country for greener pastures and

I, said: “The Second Phase being flagged-off today, seeks to further improve the justice sector and anticorruption systems by reinforcing the achievements made so far and promoting effective enforcement of legal and policy frameworks with a focus on the implementation of the National Anti-Corruption Strategy and the National Policy on Justice. “The intervention aligns with the National Development Plan 20212025, the blueprint for Nigeria’s economic recovery, conceived to create strong and sustainable governance structures, and efficient institutions that promote citizens’ protection. In the same vein, RoLAC Phase II is expected to drive productivity for sustainable growth in line with the Renewed Hope Agenda of the current administration.” He noted that: “In terms of the lessons learnt in implementation of

RoLAC Phase 1, the implementation of Phase Il is expected to have a robust coordination structure involving the Justice and Anticorruption institutions, in order to increase their participation in the development and management of the anti-corruption and justice reform agenda. “We must use this platform to demonstrate the possibilities in meeting our ambitious inclusive development objectives by fostering a policy environment that maximizes the potential of all Nigerians to productively contribute to the economy.” In his speech, the Attorney General of the Federation and Minister of Justice, Lateef Adegbite, said that, “The Federal Ministry of Justice is appreciative and happy to collaborate with you on your Phase II Programmes.

contingency sub-heading to address unforeseen expenses not initially budgeted for but deemed necessary during the fiscal year. The statement titled: "Re: Akeredolu Spent N7.3billion In Three Months On ‘Contingency’ Without House Of Assembly Approval", said while the original contingency fund in the 2023 budget was N1,069,000,000.00, the additional N7 billion represents funds received from the federal government labelled as "Infrastructure Support Fund," specifically for palliatives meant to cushion the effects of fuel subsidy removal. "We have read the report published on SaharaReporters news platform claiming that the Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, CON, spent N7.3billion in three months while he was on medical vacation. "In response to the concerns raised across various social media platforms, we wish to provide clarification for the sake of transparency and accountability, which are values synonymous with the Akeredolu-led administration. "It is important to state unequivocally that the referenced N7.3 billion constituted the cumulative amount of palliative funds received from the federal government. These funds were allocated under the contingency sub-heading to address unforeseen expenses not initially budgeted for but deemed necessary during the fiscal year. "While the original contingency fund in the 2023 budget was

N1,069,000,000.00, the additional N7 billion represents funds received from the federal government labelled as "Infrastructure Support Fund," specifically for palliatives meant to cushion the effects of fuel subsidy removal." According to Akeredolu, "In accordance with the Ondo State Public Finance Management Law 2017, the establishment of a Contingency Fund is outlined in Part five, subsection (i) and (ii). It states: A contingency Fund is hereby established. (ii) The contingency Fund may be utilised for making money available to meet emergency expenditure (other than statutory expenditure) which is not provided for in the Appropriation Law for the current year and which although otherwise failing to be met out of the consolidated Revenue Fund or Capital Expenditure and Development Fund cannot without serious injury to the public interest be postponed until a Supplementary Appropriation Law providing for it can be enacted.” "Contingency funds are designed to address emergency expenditures not provided for in the current year's Appropriation Law, but crucial to the public interest and requiring immediate attention." The governor emphasised that he did not personally spend the N7.3billion; rather, the funds were appropriately utilised for palliatives, noting that the funds were released to the state by the federal government as part of the efforts to mitigate the impact of the fuel subsidy removal nationwide.

T H I S D AY • WEDNESDAY, NOVEMBER 22, 2023

NEWS

Partnerships and open doors for international collaboration...

L-R: Malaysian Charge d’Affaires to Nigeria, Ms. Sharmini Devi Gopal and Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education, Madam Abiola Arogundade shortly after an engaging meeting to explore new partnerships and open doors for international collaboration in Vocational Training at the Hilton Transcorp Abuja...on Monday

Party, Electoral Impunity: APC Now Where PDP Was in 2007, Says Lukman Adedayo Akinwale in Abuja

Former National Vice Chairman North-west of the All Progressives Congress (APC), Dr. Salihu Lukman has lamented that the culture of manipulating political contests through imposition, vote buying, rigging in the ruling party has reached the point where the Peoples Democratic Party (PDP) was in 2007.

Lukman, in a signed statement, Tuesday, noted that it might grow to the point where almost all APC candidates for 2027 elections might be produced through imposition. He said with about 19 political parties, the primary focus of all the registered parties is to win elections based on the culture of manipulation of political contests through imposition, vote buying, rigging.

The APC chieftain noted that manipulation starts at the small level of producing party leaders and grows to become unethical political culture producing winners of every electoral contest. He noted: "APC with all the vision of emerging as a progressive political party is being destroyed. Suddenly, APC leaders, sadly, including President Asiwaju Tinubu have assumed

the overdrive mode of operating with hardly any strong respect for internal democracy within the APC. Otherwise, what could explain the current happenings in APC whereby none of the party organs is functioning as provided in the APC constitution." Lukman added that manipulation of political contests are the cells or tumours that grow uncontrollably and spread.

We Spent N223.4m on Meals, Entertainment, Not N1 Billion, As Alleged, Says Abia Govt Emmanuel Ugwu-Nwogo in Umuahia

The Abia State government has expressed dismay over "distorted reports" on social media platforms purporting that Governor Alex Otti had, under three months, spent close to N1 billion on meals and entertainment. The unsavoury buzz was sparked by a third quarter report on budget performance which the government posted on its website in line with its "commitment to transparency, good governance and fiscal discipline". The state Commissioner for Budget and Planning, Mr. Kingsley Anosike, told a press conference in Umuahia yesterday that the Abia opposition had orchestrated "some distortions" on some of the subheadings in the Q3 report. He clarified that within the period under review the government spent N223, 389, 889.84 on meals and refreshments, which is just 24 percent of the purported N927 million being bandied about in the social media space. Anosike further explained that the actual expenditure on meals and entertainment did not represent figures only from the office of the Governor but from the entire government structure. According to him, the figure was derived from aggregation of vouchers from the entire ministries, departments and agencies(MDAs) of government, totalling 74 in number hence it captures all expenses of the government on meals and entertainment.

“This figure is for the entire state and not for the Office of the Governor, as being wrongly alleged," he said, adding, "the stated figure cover expenses for special events, such as retreats, conferences, and related events". Giving a breakdown of figures lumped for meals, entertainment and welfare, the commissioner said that “the Abia State Government has so far spent the sum of N397,520,734.84 on welfare". He stated that the welfare expenditure covers health issues, rehabilitation and emergencies,

citing situations where people were involved in accidents and the government needed to bear the cost of medical care of the injured. "The Welfare expenditure is in line with the State Fiscal, Transparency, Accountability, and Sustainability Programme(SFTAS), an initiative of the federal government," he said. Anosike, who was flanked by the Commissioner for Information, Prince Okey Kanu and members of Governor Otti's media team, as well as the Special Adviser on Monitoring and Evaluation, Mr. Ugochukwu Okoroafor, flayed the opposition

for mischievous misrepresentation of facts". In his remarks, the SA Monitoring and Evaluation said that the Alex Otti administration was open to constructive criticism and the opposition have the right to express their views. But he condemned a situation where the opposition would engage in blatant lies, mischief and twisting of facts and figures, adding that "mischief from opposition is the price" that the Otti administration is paying "for good governance and transparency".

He emphasised that once a party produces its leadership through processes of manipulation, such a party would end up producing candidates through manipulation and the candidates would in turn be seeking to win elections by manipulating results. The party chieftain stressed that as long as political parties in Nigeria are allowed to operate in a lawless manner, the problems of manipulating political contests would continue. Lukman added that many APC leaders were confident that under the leadership of President Bola Tinubu, the potential transformation of the party into a truly progressive party would be achieved. He said about six months since the emergence of Tinubu, such confidence could hardly be sustained, adding that if anything, what is very clear is that Tinubu’s commitment to the development of the APC as a political party might only be guaranteed to the extent that the party will give him what he wants. Lukman added: "It is almost a return to the old PDP model of party organisation under former President Olusegun Obasanjo with the requirement of 100 percent loyalty. Without any attempt to reopen old wounds, the require-

ment for 100 percent loyalty was responsible for the graveyard silence internally within the APC when Dr. Abdullahi Umar Ganduje was proposed by President Asiwaju Tinubu as National Chairman. "After Dr. Ganduje’s successful emergence, there is also graveyard silence even when Dr. Ganduje continued with the practice of freezing structures of the party. No meetings of organs are taking place almost four months after the emergence of Dr. Ganduje as the APC National Chairman. "Given such ugly reality, it should only be expected that the culture of manipulating political contests through imposition, vote buying, rigging, etc. would become entrenched in APC. "Like the case in PDP in 2007, it may grow to the point whereby almost all APC candidates for 2027 elections may be produced through imposition. Unless we want to lie to ourselves, as things are, the culture of manipulating political contests through imposition, vote buying, rigging, etc. in APC has reached the point where PDP was in 2007." Lukman, however, appealed to Tinubu and APC leaders to resist the temptation of overindulging themselves with the false belief that they could continue to succeed to impose their choices on Nigerians.

LUTH CMD’s Appointment: Don Sues President, Others Wale Igbintade A professor in the College of Medicine, University of Lagos, Prof. Olufemi Fasanmade, has sued the President Bola Tinubu, the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate and three others at the National Industrial Court (NIC), Lagos, over the appointment of Prof. Wasiu Lanre Adeyemo as the Chief Medical Director of Lagos University Teaching Hospital (LUTH). Prof. Fasanmade, also an honorary consultant in LUTH. Joined as Defendants in the suit are LUTH Management Board, the Attorney General of the Federation, Lateef Fagbemi (SAN) and Prof. Adeyemo. In an originating summon

with the suit marked NICN/ LA/261/2023, Fasanmade prayed the court to set aside the appointment of Adeyemo. He urged the court to declare that the Chairman and members of LUTH Management Board having been appointed and inaugurated in March 2018 for a term of four years could not have validly appointed Adeyemo as an Acting Chief Medical Director in LUTH on March 27, 2023, contrary to LUTH (reconstitution of board ETC) Act. He also prayed the court to declare that the recommendation of the 5th defendant (Adeyemo) by the 2nd defendant (Minister of Health) for appointment as CMD of LUTH based on the report of the interview panel and LUTH management board is illegal,

irregular, invalid and contrary to the University Teaching Hospital (reconstitution of board ETC) Act. Fasanmade is also asking the court to declare that neither the 2nd defendant (Minister of Health) nor the 3rd defendant (LUTH management board) has any role whatsoever to play in the appointment of the CMD of LUTH. He stated that the Management Board through its Secretary and Director of Administration issued the public advertisement on November 22, 2022 inviting interested candidates to contest for the position, while the Minister through officials of his ministry conducted elaborate exercises including screening, interviews, grading and even made recommendation for appointment contrary to the university teaching

hospital (reconstitution of board ETC) Act. In his summons, Fasanmade asked whether the 3rd defendant was still a valid and proper management board of LUTH as at November 2022 when it initiated the process of the appointment of CMD by issuing public advertisement in national newspapers inviting interested persons to contest for the position and receiving applications for that purpose. He urged the court to determine whether it was possible for the former President Muhammadu Buhari to have approved the appointment of Adeyemo on June 2023 as communicated in his letter of appointment when Buhari relinquished office on May 2023, even though the appointment was

purported to have taken effect from March 24, 2023. In a 27-paragraph affidavit to support the originating summons, Fasanmade said he thoroughly read the advert, became interested, compiled his credentials and submitted his application to the director of administration of the LUTH management board before the given deadline. He averred that, "Soon after the submission, I realised that the 5th defendant (Adeyemo) was my only co-contestant for the same position. "That pursuant to the guideline issued by the 2nd defendant officers of the ministry of health under the supervision of the 2nd defendant, further criteria that were skewed in favour of the 5th defendant (Adeyemo) being my sole co-contestant."

WEDNESDAY, NOVEMBER 22, 2023 • T H I S D AY

NEWS

DEFENCE MINISTER VISITS CAVERTON’S FACILITY...

L-R: Chairman, Caverton Marine, Mr. Akin Kekere Ekun; Chief Operating Officer, Caverton Offshore Support Group, Mr. Rotimi Makanjuola; Chairman, Caverton Helicopters Limited, Mallam Bello Gwandu; Honourable Minister of Defence, Mohammed Badaru Abubakar; Permanent Secretary, Ministry of Defence, Dr. Ibrahim Kana, and Chief Executive Officer, Caverton Offshore Support Group, Mr. Olabode Makanjuola, during the visit of defence minister to Caverton Maintenance, Repair and Overhaul Facility (MRO) at Murtala Mohammed lnternational Airport, Ikeja, Lagos…yesterday

Falana: Contrary to Misconception, Appeal Court Upheld Kano Governor's Election Says no serious democracy allows court to determine winner of elections Accuses political class of frustrating the system

Wale Igbintade Human rights lawyer, Mr. Femi Falana, SAN, has said that contrary to the general impression that the Court of Appeal sitting in Abuja, nullified the election of Governor Abba Kabir Yusuf of Kano State,

the majority judgement of the Court upheld his appeal and granted all the reliefs sought by the governor. Speaking last night on Arise News Primetime, Falana said he was surprised when he read a copy of the judgement, to see that the majority judgement set aside the

judgement of the lower tribunal and awarded cost in favour of the governor. ‘’You will be surprised if I show you the judgement. To my utter dismay the majority judgement of the Court of Appeal in Kano upheld the Appeal, set aside the judgement

of the lower court and awarded cost in favour of the governor that was removed by the lower Tribunal. There are contradictions which the court can no longer explain, but which is likely to be taken up by the Supreme Court. ‘’Contrary to the impression that

£2.6bn Fraud: FG Asks Court to Dismiss Firm’s ‘No Case Submission’ Wale Igbintade

The federal government has urged Justice Mohammed Liman of the Federal High Court to dismiss the no-case application filed by Petro Union and three of its directors alongside a consultant who are currently standing trial for alleged £2.6 billion fraud. The federal government’s lawyer, Rotimi Jacobs (SAN) made the plea while adopting his written address in opposition to the application by the company and its Petro Union directors. All the defendants in the case are contending through their lawyers that none of the 13 witnesses called by the prosecution established any case of fraud against them. The Economic and Financial Crimes Commission (EFCC) is

prosecuting Petro Union Oil and Gas Limited, a consultant to the company and three of its directors before the court on a 13-count charge of conspiracy, obtaining money by false pretence, attempt to steal and forgery. The consultant is Abayomi Kukoyi (trading under the name and style of Gladstone Kukoyi & Associates), while the company’s directors on trial are Prince Kingsley Okpala, Prince Chidi Okpalaeze and Prince Emmanuel Okpalaeze. They all pleaded ‘not guilty’ to the charge. In his opposition to the application, Jacobs maintained that the prosecution had, through its witnesses, established a prima facie case of fraud against the defendants. He argued that all investigations by Union Bank, Central Bank of

Akpabio Reshuffles Senate Committees, Names Ibrahim, Natasha, Ubah, Others Chair Sunday Aborisade in Abuja

President of the Senate, Godswill Akpabio, yesterday, reshuffled the committees of the upper chamber. In the new arrangement, he named Senator Jimoh Ibrahim (APC-Ondo South) Senate Committee chairman on Inter-Parliamentary Affairs; Senator Natasha AkpotiUduaghan as the Chairman, Senate Committee on Local Content. Other Chairmen of committees included Senator Patrick Ndubueze (APC-Imo) Chairman Senate Committee on Steel Development; Senator Shuaibu Lau (PDP-Taraba) Chairman Committee on Tourism, and Senator Binos Yaroe (PDP-Adamawa) Chairman Committee on State and Local Government Affairs. The Chairman of the Senate Committee on National Atomic and Nuclear Energy is now Senator

Sahabi Yau (APC-Zamfara) while Chairman Senate Committee on Youth and Community Engagement is Senator Yemi Adaramodu (APC-Ekiti); Chairman Committee on Sport Development; Kawu Sumaila (NNPP Kano). The Chairman Senate Committee on Niger Delta Affairs was given to Senator Olajide Ipinsagba (APCOndo) while Senator Ogoshi Onawo (PDP-Nasarawa State) was named the Chairman Committee on Art, Culture and Creative Economy, Akpabio announced Senator Ifeanyi Ubah as the Chairman Senate Committee on Petroleum Downstream and Senator Sampson Ekong Chairman, Senate Committee on Solid Minerals Development. Akpabio said the reshuffling of the committee leadership was for effectiveness and smooth running of the red chamber.

Nigeria (CBN), Bankers' Committee and the EFCC confirmed that the defendants were engaged in fraudulent activities. The lawyers stated: "We have proved the ingredients of those offences beyond any reasonable doubt and each of the defendants should be invited to present their defence to the charge, if they have any. "The defendants knew the truth but are insisting that the federal government should pay them £2.1 billion. It is our common inheritance that they want to take away. This is a clear case of fraud, and no person with heaven in mind should pursue this case or assist anyone to do so. "The judgement against the federal government is now almost £30 billion with interest from 1994. We investigated the issuance of this

cheque with our overseas partners, and it was revealed that the late Chief Okpala set up the company, Gazeaft Limited with share capital of £100 which opened a Barclays Bank account. “He was the one who gave the various payment instructions to the third parties and not any foreign investor. He was also the one who signed the cheque leaf for £2.6 billion in the name of Petro Union as the forensic expert called by the federal government established before this court. "The account upon which the cheque was drawn has been closed since 1989, whereas the cheque was issued in 1994 - five years after the account was closed and the company dissolved at the companies’ house in the United Kingdom," Jacobs said.

has been given out there, the majority judgement of the Court of Appeal has confirmed that the judgement of the lower court was wrong, and has set it aside in writing, upheld the Appeal and granted all the reliefs sought by Governor Abba. So, you ask yourself, what’s going on?’’ According to Falana, no serious democracy allows the court to determine the winner of elections, adding that Nigeria must put an end to it. He also advocated for a mechanism to be put in place to deal with electoral offenders no matter how highly placed. ‘’We must go back to Justice Uwais Electoral Committee recommendations, which was adopted by the 2014 National Conference, adopted by Lemu Committee, adopted by the Ken Nnamani Electoral Reform Committee, so that we can begin to hold election that will reflect the will of the people. ‘’We must not applaud the court when we are favoured, we must have a common standard whereby the wishes of the people must be respected. You cannot say you want to punish somebody for the errors of INEC electoral officials as it was the case in Kano. That is almost scandalous. He said Nigeria is the only country in the world that records the highest number of election petitions, warning that unless ‘we put in place an electoral system that will

punish those that violate the law with impunity, the wishes of the electorates will be trampled upon. On why INEC get away with wrong doings, Falana said: ‘’The law requires judges to punish on the basis of evidence led before them those who can be said to have manipulated the electoral system or who subverted the electoral system and make a mockery of the wishes of the people. ‘’In those days, judges recommend sanctions for electoral offenders. These days we are only busy with who won the election and who did not win the election, while those that caused the problem to go scot-free’’. According to the fiery lawyer, the Attorneys General appointed by some of the riggers of the elections quietly withdrew cases by filling nolle prosequi applications in court against those arrested for electoral offences. He said: ‘’That was why Uwais Committee recommended that we should have Independent Electoral Offences Commission to deal with those who breach the provisions of electoral law. But it has been rejected over the years; instead, they are saying INEC shall prosecute electoral offenders." ‘’But we must unbundle IENC to enable it concentrate on conduct of elections by having electoral offences commission. Also, political Party Regulation

CDS: B'Haram Terrorists Planned Attacks from Prison with Warders’ Connivance

across 774 local government areas. But getting operational vehicles for the divisions is difficult. "Each of these divisions requires at least four functional patrol vehicles. But we have divisions, which don't have any patrol vehicles as of today.” The IGP also told the legislators, "Training in the police is still inadequate. The welfare of personnel is nothing to write home about. Funding is critical to achieving the mandate of the Nigeria Police. "Unfortunately, the citizens are not interested in our excuses for underperformance. What the citizens want; they want us to serve them. We are ready to serve them. We need your cooperation. We need funding. We need more manpower." Meanwhile, Afenifere expressed concern about the spate of internal security breaches in various parts of the country in recent times, and insisted on multi-level policing. National Publicity of Afenifere, Jare Ajayi, in a statement, called on Tinubu and relevant security agencies to up the ante in tackling the menace. Afenifere raised the concern against the backdrop of rising

security incidents, including the gruesome murder of a 62-yearold grandmother, Iyanuoluwa Adamolekun, at her Similoluwa area, Agbaluku Arigidi Akoko in Ondo State. Afenifere listed other cases to include kidnapping incidents at Saki, Okaka and Ipapo, Oke ogun, Oyo State within a month; Fulani herders’ attacks on farmers in Afon, Ipokia, Ogun State, Iwere-Ile, Komu and Otu in Oyo State; amputation of a 12-year-old Fulani boy in Mayaki, Niger State; and killing of Rev. David Musa of ECWA in Obajana, Kogi State on October 14, 2023. The organisation also noted the abduction of about 15 church members in Ondo State in September, the narrow escape of Yobe State Governor Mai Mala Buni from terrorists, the death of two police officers last weekend, and massacre of some farmers in Benue State, among others. Afenifere expressed worry over the rustling of cows in the north eastern and north western regions of the country as well as the prevention of farmers from freely accessing their farms.

It said in the statement, "The latter has, naturally, led to a deficit in food items, thus, occasioning high costs of food items that are available. This was compounded by the high cost of transportation due to the removal of fuel subsidy, among other things. “To worsen the situation, schools are being targeted by criminal elements, as reports have it that no fewer than 34 students were kidnapped in five incidents between September 22 and October 15, 2023 alone. Some of the incidents included the abduction of over 24 students of the Federal University, Gusau, in Zamfara State on September 22. "The development informed the recent decisions by the Nigeria Police Force and Nigerian Security and Civil Defence Corps (NSDC) to announce a plan to jointly come up with ‘Safe School Initiative’ in higher educational institutions across the country.” Afenifere stressed that it was a known fact that the army was for the maintenance of the country’s territorial integrity, while internal security was the major responsibility of the police, according to the constitutional provisions.

It stressed that the efforts of the police and allied security agencies had not yielded the desired results because of the inherent structural error, adding that the police and other security agencies in the country are centralised in the nation’s capital, Abuja. Afenifere said, "It means that there is an urgent need to decentralise and empower the security agencies if the insecurity that is fast consuming the nation is to be brought under control. “As we have been shouting for about two years now, the president is enjoined to promptly give an Executive Order allowing states and local governments in the country to set up their own police forces, as is being practised by various countries that are heterogeneous and large. "Machinery can then be set in motion for the National Assembly to quickly amend the relevant sections of the constitution, accordingly. The time to do so is now, if a stop is to be put to the avoidable loss of lives, properties, declining economic activities due to fear of being kidnapped and the trauma that these acts of banditry are causing the people."

T H I S D AY • WEDNESDAY, NOVEMBER 22, 2023

NEWS

Omolara, Midas CEO's Wife, Bags PhD...

L-R: Honorable Babatunde Oduyoye, fomer member House of Representatives and Special Adviser, Politics to Governor Seyi Makinde of Oyo State, Alhaji Kehinde Olaosebikan, CEO, Midas Communications Ltd, Dr Mrs Omolara Olaosebikan and Senator (Dr.)Yunus Abiodun Akintunde representing Oyo Central Senatorial District at the Graduation Dinner of Dr. Mrs Omolara Olaosebikan who obtained a PhD, Health and Safety Education from the premier university, University of Ibadan... last Friday.

Lagos Addresses ‘Discrepancies’ in Procurement Figures Lagos State Governor, Babajide Sanwo-Olu yesterday addressed the controversy surrounding a letter written by an opposition politician, Funsho Doherty, which raised concerns about the procurement process in the state. The governor noted the controversy generated by the letter was unnecessary, stressing that the state had nothing to hide in its public expenditure. Sanwo-Olu spoke while commissioning the newly built operational headquarters of the Lagos State Building Control Agency (LASBCA) in Ikeja.

He said his administration would continue to value objective criticism, but added that some critics hide their “malicious intentions” under the guise of playing political opposition to misrepresent the truth. The governor, a statement from his Chief Press Secretary, Gboyega Akosile, said pointed out discrepancies in the figures quoted on the Lagos State Public Procurement Agency (PPA) website, which, he said misled the public and generated controversy. He said: “Over the weekend, we saw on social media how some people can politically turn around all of our attempts to be responsible,

transparent and committed to good governance. We don’t have a problem with any individual. “We, indeed acknowledged that this is the way it should be. We appreciate the fact that people can look at us in the face and say you need to do well in this area. “We don’t have a problem with the originator of the open letter; in short, we like him and we thank him. Indeed, if we are seen as the

government that is transparent and responsible, we should not be shy of criticism. But, it is only when criticism is malicious and is misrepresenting the truth, that is when there will be a problem. “Officers in Lagos state have come out to show that there could be mistakes on some lines of items. There was a particular issue where an item was meant to be N2 million, but was written as N2 billion. There

are many discrepancies which have been corrected by PPA. “We are not going to join issues with anyone on social media. All we are committed to is continuous service to the people of Lagos.” Sanwo-Olu said Lagos had maintained open books for checks and balances, pointing out that the state had judiciously appropriated funds to projects and services that benefited the residents.

“I lead a team of dedicated public officers, civil servants and a self-motivated team of officials that will always stand tall with anyone across the world. The building we are opening today is a testament to our commitment to responsible public service. “This is a building that has been built on time within the budget and judicious expenditure. This is what we stand for in Lagos,” the governor said.

FG to Revitalise Ajaokuta Steel Company to Produce Military Hardware Senate Confirms Tinubu's Nominees For FERMA Board

Sunday Aborisade in Abuja

The Senate, yesterday, approved the nomination of Dr. Chukwuemeke Agbasi, for appointment as the Managing Director of Federal Road Maintenance Agency (FERMA). The apex legislative Assembly also confirmed the nominations of nine other persons as members of the Board of FERMA. Those confirmed as members of the board were Mr. Terms Manasseh, Dr. Kenneth Ugbala, Senator Timothy Aduda, Mr. Babatunde Daramola, Mr. Preye Oseke, Aminu Adamu Papa, Mr Abubakar Bappa, Shehu Mohammed and Yusuf

Othmam. Their confirmation followed the adoption of a report of the Senate Committee on FERMA on screening of the nominees by the Chairman of the Committee, Senator Hussaini Uba (APC-Jigawa) at the Committee of the Whole. In his presentation, Senator Uba, urged the Senate to consider the request of President Bola Tinubu for the confirmation of the nominees in accordance with section 2(1)(2) of the FERMA Act 2002. The president had written the Senate, requesting the lawmakers to screen and confirm the appointment of the nominees.

Kingsley Nwezeh in Abuja

Minister of Defence, Badaru Abubakar, said yesterday that President Bola Tinubu was committed to the revitalisation and capacitation of the Ajaokuta Steel Company to enable it produce military hardware to support the fight against insecurity in Nigeria. The minister spoke when he received the Minister of Steel Development, Abubakar Audu and the Managing Director of Ajaokuta Steel Company, Mr. Sumaila Akaba at the Ship House, Ministry of Defence in Abuja. Badaru said that the company was known for the local production of military hardware, noting that there was the need to partner with Ministry of Steel Development

because 80 to 90 per cent of what was required for the production of military hardware was steel. He stated that strengthening the company to produce military hardware instead of relying on foreign production would boost the nation's fight against insurgency and other related crimes. "Local production of military hardware is critical because the crisis we have in the country at present will not allow us rely on other countries for military hardware," he said. To actualise the revitalisation of the company, the minister had directed that a technical committee be set up to determine what to produce, the raw materials to use, cost of reviving the production centre as well as to determine sources of funding.

He urged the Permanent Secretary, Director-General of the Defence Industries Corporation of Nigeria (DICON), the Managing- Director of Ajaokuta Steel Company as members of the technical committee to work vigorously and come up with a report on the way forward in two weeks time. In his remarks, the minister of steel development, said that reviving Ajaokuta Steel would be a game changer to the industrial sector and the economy as a whole. He said that due to paucity of funds, production was stalled. "But I believe that if initiatives are put in place, Ajaokuta Steel will be revived and work will resume within

the first four years of the President Bola Tinubu's administration. He stated that the company had about 48 production units and one of such units was for production of military hardware, adding that if the ministry of defence collaborates with the company, it would have the capacity to produce military hardware that the nation will need. Earlier in his opening remarks, the Permanent Secretary of the Ministry, Dr Ibrahim kana, said that the essence of the meeting was to take the discussion to a stage where the company can develop a step by step approach on how to actualise the dreams of reviving Ajaokuta Steel in the next four years.

Senate Begins Moves to Shettima: FG 'll Increase Funding for Arts, Review Nigerian Laws Creative Industry for Enhanced Productivity Sunday Aborisade in Abuja

Minister says target is to increase revenue from sector to N100bn

Deji Elumoye in Abuja The federal government yesterday assured practitioners in the creative and entertainment industry of the present administration’s support to enable it take its rightful place as Africa’s creative powerhouse. Vice President Kashim Shettima, who gave the assurance at the Art, Culture and Creative Economy Roundtable, at the State House, Abuja, also apologised to the art and creative industry for the lack of interest shown by successive governments over the years. Shettima, noted that Nigerian artists and creatives have continued to make their marks on the world stage, winning awards and bringing in financial returns in foreign

currencies. While hailing the industry and its drivers for their contributions to the nation’s growth, the vice president said it was the positive portrayals of the country in the various creative works like movies, music and other works of art that most of the negative narratives about the country have been corrected. He however, assured the industry of Tinubu to remedy the past neglect, part of which was the roundtable convened, further assuring them that the president is in tune with realities in the industry, especially the fact that it is a critical segment of the global economy. “It is through your talents that we refused the caricatured image and unveiled the true essence of

Nigeria's creative minds. So on behalf of the Nigerian government, allow me to extend our profound and sincere gratitude. “Thankfully, our president, my boss, is the architect of the nation's entertainment hub and there’s a reason your industry refers to him as ‘City Boy’. The president is not only cosmopolitan, a man of arts and culture, in tune with the realities of your industry, but he has also acknowledged your industry is a critical segment of the global economy. “This roundtable discussion isn't just for us to chart a course that celebrates our past achievements, it is for us to pave the way for an even brighter, more inclusive and prosperous future for Nigeria's

creative economy,” he said. Earlier, the Minister of Art, Culture and Creative Economy, Hannatu Musawa, while introducing her roadmap to the roundtable, unveiled five targeted objectives to be achieved. According to her , one of them is the economic plan, which she said, aims to create millions of jobs and contribute 10 per cent of the nation’s Gross Domestic Product (GDP) at about N100 billion. She also unveiled the ministry’s vision and agenda for the creative sector, which is partly encapsulated in the ‘Destination 2023, Nigeria Everywhere’ initiative – a soft power programme to showcase Nigeria’s abundant talents in the creative sector.

The Senate yesterday directed its Committee on Judiciary, Human Rights and Legal Matters to interact with the Office of the Attorney General of the Federation to initiate the process of revising the Laws of the Federation of Nigeria (LFN) 2004. This followed a motion by Senator Kaka Lawan during plenary. The LFN was an alphabetical compilation of laws operative in Nigeria which are updated regularly. The compilation of the laws was carried out under the authority of the Attorney General of the Federation, subject to the approval of the National Assembly through an Act. Shehu, in his motion, said the statutes in the LFN were enacted in different years before and after Nigeria's independence even though they were all cited as "LFN 2004". He said the LFN had remained unrevised for almost two decades, with the implication that the several

laws enacted in Nigeria from January 1, 2003 till date remain excluded from the compilation. The lawmaker said there was an attempt to revise the LFN in 2010 but the effort had no legal framework of the National Assembly approving it. He also expressed concern that the continued non-revision of LFN has not only left numerous statutes out of the compilation but also retained many repealed statutes with attendant confusion and other negative impacts. According to him, the non-compilation of the several federal statutes leads to a dearth of knowledge of many existing laws on the part of Nigerians, especially students, lecturers, researchers, lawyers, legislators, and judges among others. He said the revision of LFN was long overdue and as such will be in the interest of democratic governance in Nigeria to commence the revision process without further delay.

wednESday november 22, 2023 • T H I S D AY

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TREM KINGDOM LIFE WORLD CONFERENCE …

L-R: Guest Speaker/Senior Pastor, Kingsway International Christian Centre (KICC), Pastor Matthew Ashimolowo; Presiding Bishop, The Redeemed Evangelical Mission (TREM), Bishop Mike Okonkwo, and Resident Pastor, TREM Headquarters, Bishop Peace Okonkwo, during the 2023 TREM Kingdom Life World Conference in Lagos… yesterday SUNDAY ADIGUN

I’m Ready to Lose My Seat than to Turn My Back on Kwankwaso, Says Kano Gov Ahmad Sorondinki in Kano

Kano State Governor, Abba Kabir Yusuf has declared that he is ready to lose his governorship position rather than abandon the guidance of his political godfather Senator Rabiu Musa Kwankwaso. Governor Yusuf attributed

his travails to the unnecessary transfer of aggression on him by some highly placed politicians, who moved against the former presidential candidate of the New Nigeria People Party (NNPP). Speaking at a stakeholders’ meeting of the Kwankwasiyya Movement in Kano, Governor

Abure Challenges LP Lawmakers on Electoral Reform

Chuks OkochainAbuja

The National Chairman of the Labour Party, Julius Abure, has called for a complete electoral reform in order to strengthen Nigeria’s democracy and regain the trust of the people in the system. Abure made the call when LP members in the National Assembly paid the party leadership a courtesy call at its Ssecretariat in Abuja. He said, “This visit is to show that we are one, formidable opposition party. We thank God

that we retained our strength in the House. I’m also facing the same challenge. “You have been the symbol of the people, you will not abandon them. Many have been killed and maimed, you have become the voice of the voiceless. I hope that you will continue to keep faith. “Opposition is the soul of democracy. It is only in this part of the world that we see opposition as an anthem. There must be a strong opposition for the survival of democracy.

Rand Merchant Bank Nigeria has bagged the FMDQ Member Compliance, Secondary Market award for its remarkable achievements in the Nigerian financial market for the period of October 2022 to August 2023. This prestigious award was presented by FMDQ, a leading Nigerian financial market infrastructure group. The FMDQ GOLD Awards are designed to honour and acknowledge the resilience and agility of key players within the Nigerian financial market. These awards are underscored by FMDQ’s GOLD principles, which stand for “Global Competitiveness, Operational Excellence, Liquidity,

and Diversity.” The GOLD Agenda encompasses various facets of the financial market, ranging from securities exchange, central counterparty services, and depository services, to private markets. The award specifically recognises RMB Nigeria as the Exchange Dealing Member with the least number of infractions, which is a clear testament to consistent adherence to market rules and guidelines. Chief Executive Officer (CEO) of RMB Nigeria, Dalu Ajene, expressed the institution’s pride and gratitude for this remarkable accomplishment.

Yusuf, attributed his losses at both the Election Petition Tribunal and Court of Appeal, as part of a targeted attack on Kwankwaso. He said: “Even if the world would say they are not going to give us anything because of

his (Kwankwaso) vision, we are not going to turn our back on him and his vision.” “But we must appreciate him (Kwankwaso) and be immensely grateful to him and we have to tell him that we are proud of him.”

NumeEkegheandOluchi Chibuzor

building in risk management and related disciplines. This was disclosed during a courtesy visit of top management of the institute led by the President, Prof. Ezekiel Oseni to the Dean, School of Postgraduate Studies, UNILAG, yesterday in Lagos. Oseni stressed the need to harness

Yusuf then urged the party leaders not to lose hope and urged them not to exchange bitter words with anyone but to channel their energy to motivating the Kano people. He stressed that whoever thinks he has the power to

victimise fellow human beings and decide to cause untold hardship against innocent citizens, must realise that no condition is permanent in life, and there are days when all created human beings must be answerable to our deeds.

CRMI, UNILAG Collaborate to Foster Research, Devt in Risk Management The Chartered Risk Management Institute (CRMI) and the University of Lagos (UNILAG) have escalated efforts on strategies that would lead to the development of academic programmes for continuous capacity

of the opportunity that comes with in-depth research and knowledge sharing between practice and the gown. He maintained that the visit would spur greater synergy that would enable the university start academic programmes in risk management, while as a professional body they

would leverage the expertise of its members in ensuring balance between academics and practice According to him, “was nice talking to them , so the take-home for us that we will be able to work together to better the lot of risk management and add value to all the stakeholders.”

Bauchi to Renovate Facilities at State NYSC Orientation Camp Segun Awofadeji in Bauchi

Bauchi State Governor, Senator Bala Mohammed, has reaffirmed the commitment of his administration towards transforming and advancing structures and facilities at the

National Youth Service Corps (NYSC) orientation camp in the state into world-class facilities. This is as he called on members of the NYSC posted to the state that the various skill acquisition programmes they were exposed to in camp were designed to make

them job creators and not job seekers. Governor Mohammed, who stated this yesterday during the official closing ceremony of the 2023 Batch C Stream 1 orientation exercise at Wailo camp in Ganjuwa Local Government Area of the state,

also declared interest in renovating facilities in the NYSC orientation camp as part of his genuine commitment towards ensuring the welfare and well-being of the corps members by providing them with a conducive environment for the orientation programme.

Perfect Ambassador of Nasarawa, Sule Tells Police Minister RMB Nigeria Wins FMDQ You’re led some critical stakeholders of It doesn’t matter what position she Sule therefore, assured the Police IgbawaseUkumbainLafia state on a courtesy visit to the holds, she has been able to make Affairs Minister that the people of Compliance Award The Nasarawa State Governor, theminister in Abuja, maintaining that impact in Nasarawa State. Nasarawa State would continue to Abdullahi Sule, yesterday eulogised the Minister of State Police Affairs, Hon Imaan Sulaiman Ibrahim, as a perfect ambassador of the state Governor Sule eulogised the Police Affairs Minister when he

everywhere Imaan had been, she has been a perfect ambassador of Nasarawa State. According to the governor, “Imaan is unlike so many other people who have held top positions.

FolalumiAlaranand KuniTyessi inAbuja

visual impairment in Northwest Nigeria and delivered 590 million treatments for neglected tropical diseases (NTDs) in the country since 1953. The group, which is working in countries across Africa and Asia to prevent blindness and

“I have attended some of her assignments, including the camp that she built in Keffi, which is actually the life of the ministry she is holding today. It is actually the ministry for the security of the people.”

be proud of her. “We in Nasarawa State will continue to pray for you. We in Nasarawa State believe that you are going to excel in this position.’’

Sightsavers Treats 590m Cases of Neglected Tropical Diseases in Nigeria Sightsavers, an international development charity, has disclosed that it worked with the governments and other partners to screen 1.3 million children for

strengthen local health systems, support equality for people with disabilities, and advocate for change, also collaborated to support over 1,249 cataract surgeries for children in Zamfara, Sokoto and Kaduna States. These were listed as part of the achievements of the global

charity in the last 70 years of its operations in Nigeria. In a statement issued yesterday by its Communication Associate, Joy Tarbo, to commemorate its 70th anniversary since coming to Nigeria, Sightsavers noted that it began work in the country in 1953.

NGX Urges FG, CBN to Give Priority to Listed Companies in Procurement, FX Access

This strategic approach, held recently, he pointed out corporates. Tokede Third Republic Lawmakers Kayode according to the Chief Executive that NGX is excited with the He stated that the exchange The Nigerian Exchange Limited Officer, NGX, Mr. Temi Popoola, new change in administration was working with government Celebrate 30th Anniversary (NGX) has called on the federal is pivotal in attracting more and its renewed hope agenda to use the capital market to fix government and the Central companies to list on the exchange as it presents an opportunity to government problems, adding More than 300 surviving members of the House of Representatives in the third republic are set to celebrate the 30th anniversary of their cohesiveness and their abhorrence of military incursion in politics and the emergence of fourth republic. November 17, 2023 marked 30 years the National Assembly legislature was dissolved by the military government of late Gen Sani Abacha along with other democratic structures in the country. According to a press release

signed by National Publicity Secretary of the third republic House of Representatives Forum, Hon Gabriel Eni-Otu, the former legislators said it had become necessary for the surviving members to celebrate themselves, adding that of the 593 members sworn in on December 5, 1992, only 300 of them are still living. The former parliamentarians emphasised the damage military intervention had done to the advancement of democracy pointing out that the country stands to gain more in a democracy.

Bank of Nigeria (CBN) to give priority to listed corporates in their procurement processes and access to foreign exchange (FX).

and mitigate the prevalent FX challenges in the economy. Popoola, who spoke at the MTN Capital Markets Day

work with market stakeholders, including the regulators to address the challenges faced by the government and listed

that enabling the execution of dollar-denominated transactions on NGX can address forex illiquidity.

Edo Refutes Okpebholo’s Allegations, Says It Spent N110m on Diesel in Three Months

The Edo state government has said it spent N110 million on diesel in three months on the free transport scheme across the state to cushion the effect of the fuel subsidy removal by the federal government on the people of the state.

In a statement, the Edo State Commissioner for Communication and Orientation, Chris Nehikhare, urged members of the public to disregard the alleged falsehood peddled by Senator Monday Okpebholo, who represents

the people of Edo Central Senatorial District at the National Assembly. It stated that the transport scheme benefitted over 1.5 million Edo residents in its first phase. “The Edo state government

has spent N110, 509,230 in the last three months on the free bus scheme, which operates intra-city services from Monday to Saturdays and inter-city services from Monday to Sundays across the State.

T H I S D AY • WEDNESDAY, NOVEMBER 22, 2023

WEDNESdaysports

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

0811 181 3083 SMS ONLY

Rwanda Offer Super Eagles ‘Life Line’ with Win over South Africa

Femi Solaja with agency report

Group C of the ongoing 2026 FIFA World Cup qualifying series may have been thrown open following Rwanda’s shock 2-0 win against Bafana Bafana of South Africa. The win thus relegated the supposed ‘giants’ in the pool, South Africa and Nigeria to second and third positions respectively at the end of Match-day two. While Nigeria’s football family was still lamenting the uninspiring two draws recorded against Lesotho and Zimbabwe which will likely give rival, South Africa a massive edge with a possible away win in Rwanda, the Rainbow nation faltered to two first-half goals which offered Super Eagles a lifeline should they win the next two matches in June of 2024. In the other group match, Lesotho and the Republic of Benin played goalless draw in Durban, South Africa the adopted home of the host nation to leave both nations in fourth and last position respectively. The Wasp of Rwanda, drew their opening Group C match 0-0 against Zimbabwe. Amavubi under new coach, Torsten Spittler,

2 0 2 6 W O R L D C U P Q UA L I F I E R S

took the initiative to get their first win and they were rewarded with goals from Innocent Nshuti in the 12th minute, and Gilbert Mugisha in the 28th minute to silence the visiting side. It was Amavubi who settled quickly into the game and they almost took the lead with only six minutes played when Lague Byiringiro evaded his marker to meet a cross from Djihad Bizimana but the former failed to hit the target as his weak effort was stopped by Bafana goalkeeper Ronwen Williams. However, it did not take Rwanda long to take the lead as Innocent Nshuti found himself in the right place in the 12th minute to stab home a cross from Byiringiro. The goal rejuvenated the Amavubi, who were spurred by their home fans, and it should have been 2-0 in the 18th minute when Nshuti laid a neat pass to Kevin Muhire but the advancing Williams came out quickly to gather the ball. Ten minutes later, Rwanda stretched their lead when Gilbert Mugisha powered home using his

right foot off a cross from Ange Mutsinzi. The goal stunned the Hugo Broos-led Bafana, who had kicked off their campaign with a 2-1 victory

against Benin. Nshuti and Mugisha were the first Rwanda players to go into the referees’ book following clumsy tackles and South Africa’s best chance of the game to reduce the deficit came in the 34th minute but Percy Tau drilled his effort off inches

The victory saw Rwanda move top of the group on four points, Bafana dropped to second on three points, Nigeria, who are winless from two matches, are third on two, Lesotho fourth on two, Zimbabwe fifth on two while Benin are last on one point.

RESULTS

Botswana 1-0 Guinea Ethiopia 0-3 B’ Faso Lesotho 0-0 Benin Malawi 0-1 Tunisia Rwanda 2-0 S’ Africa Somalia 0-1 Uganda Eswatini 0-2 Cape Verde Comoros 1-0 Ghana Libya 1-1 Cameroon Mauritius 0-0 Angola São Tomé 0-2 Namibia S’Sudan 0-0 Mauritania Togo 0-0 Senegal Niger 2-1 Zambia Tanzania 0-2 Morocco

Comoros Stun Ghana, Togo Hold Champions Senegal While Cameroon and Senegal were forced to settle for draws away from home. Ghana were beaten 1-0 by Comoros in their Group I contest in Moroni through Myziane Maolida's fine solo effort two minutes before half-time. Ghana were unconvincing as they beat Madagascar in their opener on Friday but boss Chris Hughton dropped Mohammed Kudus to the bench as he chose to restore captain Andre Ayew to the starting XI. Comoros had beaten the Black Stars 3-2 at the 2021 AFCON in Cameroon to dump the West Africans out of the tournament last year, and lightning struck twice as the Coelacanths moved on to six points at the top of Group

I, two ahead of Mali and three above Ghana. Elsewhere, Senegal were held to a goalless draw by Togo in Lome while Libya fought back to draw 1-1 with Cameroon in front of a fervent crowd in Benghazi. There were also wins for Tunisia, Burkina Faso, Cape Verde, Uganda and Namibia. Morocco, who became the first African side to reach the World Cup semi-finals in Qatar last year, played their first qualifier away against Tanzania and Zambia seek a second straight win away against Niger in neutral Marrakesh. Africa will have a guaranteed nine teams at the expanded 2026 finals in Canada, Mexico and the United States, with the chance of a 10th team to qualify via intercontinental play-offs.

Sportsville Congratulates Diri, Says His Re-election Victory for Sports The Chief Executive Officer of Sportsville Communication Services Ltd, Hon. Frank Ilaboya, has sent a congratulatory message to the Bayelsa State Governor, Sen Douye Diri, on his re-election in penultimate Saturday's gubernatorial poll. Governor Diri, a proud recipient of the prestigious Sportsville Special Recognition Award 2023, was re-elected last Saturday as the Governor of Bayelsa State for another four years. Hon Ilaboya who wrote on behalf of the Sportsville's Award Organising Committee, said Diri's re-election is a clear testimony of his good job in the State, especially in sports where his impact has been phenomenal. "On behalf of the Management of Sportsville and the Organising Committee of the Annual Sportsville Special Recognition Awards, I write to congratulate you on your victory at last Saturday's polls. We at Sportsville are excited that the people of Bayelsa State recognise

the good job you have been doing in the last four years, especially in the area of sports promotion and infrastructural development. "Bayelsa today stands tall in the areas of sports development with enduring infrastructure, sign-posting your vision for a new Bayelsa where sports take the driver's seat. "No wonder, the Organisers of the annual Sportsville Special Recognition Award was spot-on in your choice as the Governor using sports to empower the youths. "As you mount the saddle for your second tenure, we urge you to Keep using sports to drive development as it is one sure source of keeping the youths away from all known vices," Hon Ilaboya admonished. Bayelsa today, ranks tops among the states using sports to maximize the potentials for youth empowerment by creating an enabling environment for young people to excel in their God's given talents.

South Africa’s Percy Tau (left), engages Emmanuel Imanishimwe of Rwanda in a one-on-one battle for ball possession during their 2026 FIFA World Cup qualifier Group C clash in Kigali...yesterday

NPFL Alerts Public to Spurious Broadcast Rights Claims by Total Promotions In its first formal reaction to a certain Total Promotions laying claims to the Broadcast Rights of the Nigeria Premier Football League (NPFL), the League body has asked the general public and it's existing and potential partners to disregard the claims. In a statement titled, "ReClarifications Regarding Claims made by Total Promotions", the Nigeria Premier League Limited/ Gte described the claims as totally unfounded with no legal validity. "We wish to reiterate that these claims made by 'Total Promotions Limited' are entirely unfounded, factually incorrect and devoid of any legal validity", Secretary to the NPL Board, Danladi Ibrahim wrote. The Lawyer offered judicial backing of the expressed position of the NPFL with a reference to a 2010 judgement by a Federal High Court Judge who ordered liquidation of the Nigeria Football League Limited, the body that granted Broadcast Rights to Total Promotions in 2006. "Note that in Suit No. FHC/ ABJ/ CS/179/2010 (Sam Jaja vs Nigeria Football League Ltd and four others), Justice Okorowo of the Federal High Court gave a judgement ordering the mandatory winding up of NFL Limited, the entity that granted the Broadcast Rights to Total Promotions" He posited that the 2010 judgement invalidated all rights assigned to Total Promotions. "By the judgement, all rights assigned to Total Promotions by the Nigeria Football League Ltd became extinguished as the later was consequently stripped

of the licensed to organise a league", the statement continued. Relying on positions of the law on contracts, the NPFL canvassed that "the concept of 'frustration of contract' and 'force majeure' are recognised under Nigeria's Contract Laws. "The execution of the contract between Total Promotions and NFL Limited became impossible after the later became insolvent and was wound up by the Court.” The NPFL also wondered how Total Promotions could still be laying claims to the NPFL Broadcast rights when the contract it was relying on has expired and the entity that assigned the rights is dead based on a court order. "Besides the fact that the contract

for the said Broadcast rights granted Total Promotions has expired, the entity that granted the rights is dead by virtue of the cited Court order", the Board Secretary further declared. It is to be noted that the Nigeria Premier League Limited/Gte (with RC No. 6862169) was incorporated at the Corporate Affairs Commission (CAC) on February 2, 2023 and licensed by the Nigeria Football Federation (NFF) to organise the Nigeria Premier Football League. The NPL Limited is not a successor in title to any previous company. It is also on record that the defunct League Management Company (LMC) had a running legal Confrontation with Total Promotions and prevailed in suits filed in different jurisdictions by

the company. Public commentators have been asking if Total Promotions own a lifetime right to the league broadcast and noted with concern that the company has no record of broadcast production, no equipment and no broadcast platforms. At the time they kept the rights between 2006 to 2011, they outsourced the match productions to Nigeria Television Authority (NTA) showing one game per week. The company has acquired a reputation for irritant confrontation to companies seeking to partner the league over the years by writing threat letters and publishing newspaper advertisement aiming to scare off corporate organisations from the league.

Nigeria’s AFA Sports Signs Apparel Deal with Cameroon Basketball

Africa’s fast growing company, AFA Sports, has made another huge mark with the signing of a partnership deal with the Cameroon Basketball Federation. A press statement made available to the international media on Tuesday confirmed the partnership. The Cameroon Basketball Federation which made the release expressed delight with the three-year apparel deal with AFA Sports. The statement reads, “We are happy to announce the partnership between Cameroon Basketball

Federation and AFA Sports for the next three years. This would go a long way to better the image of our national teams in all categories, both male and female. “We hereby thank the management of AFA Sports for this mark of confidence as proof of South-South cooperation. This agreement will also enable basketball lovers to henceforth procure our national teams’ apparels.” The Lagos-based AFA Sports first hit the international mark in 2017 in less than one year of its

existence when it was signed on to kit Africa’s number one women’s basketball team, D’Tigress. Since that landmark achievement, it has gone on to kit many other teams in and outside of Nigeria. AFA Sports, a wholly Nigerian sportswear company, made the biggest impact when it became the first wholly African company to kit a country to the Olympics as it was signed on by the Federal Government of Nigeria as the country’s official kit maker to the last Tokyo Games.

Wednesday, November 22, 2023

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& RE A SO

Price: N250

MISSILE CDS to Simon Ekpa

“In the southeast, Simon Ekpa has become a menace to this country. The country must act on it diplomatically. Simon is having a freeway because they (Finland) are encouraging him to do what he is doing. His utterances are affecting what is happening in Nigeria. We should never allow that – our foreign service should step in” – Chief of Defence Staff, General Christopher Musa, blaming Simon Ekpa, a factional leader of the proscribed leader of the proscribed Indigenous People of Biafra (IPOB), for the insecurity in the south east of the country.

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kayode.komolafe@thisdaylive.com

0805 500 1974

Dispatches from Baku

reedom is the battle cry of a group meeting this week in Baku, the capital city of Azerbaijan, to draw world’s attention to the remaining territories still under colonial rule. The body, Baku Initiative Group, is a non-governmental organisation launched in Baku on July 6 this year during an international conference staged by the Non-Aligned Movement with the theme: “Towards the Complete Elimination of Colonialism.” Azerbaijan, an oil and gas-rich nation of about 10 million people, is located between two continents - Asia and Europe. Azerbaijan is currently the chair of the Non-Aligned Movement. A former Soviet republic, Azerbaijan is a close ally of Russia. A political-military pact subsists between Russia and Azerbaijan. Russia has imposed a five-year ceasefire in the dispute between Azerbaijan and Armenia on the disputed territory of Nagorno-Karabakh. About Almost 2,000 peacekeepers have been deployed along the line of contact with Nagorno-Karabakh, thereby creating a “Lachin Corridor” on the road liking Armenia. According to Russia, the peacekeepers are to forestall “the mass death of the civilian population of Nagorno-Karabakh.” The list of the last colonies on the globe as updated by the United Nations on September 22, 2020 includes the following 17 territories: New Caledonia, United States Virgin Islands Montserrat, Saint Helena, Anguilla, British Virgin Islands, , Gibraltar, Cayman Islands, Falkland Islands (Malvinas), Turks and Caicos Islands, French Polynesia, American Samoa, Guam, Pitcairn and Tokelau. Closer home to Nigeria, it should be remembered that Western Sahara is still being claimed by Morocco and the Saharawi Democratic Republic. Given the passionate tone and tenor of the discussions by participants at the Baku meeting, the peoples of these territories seem to the feel that their cause for national independence seem to be a forgotten issue by the rest of the world. Worse still, the territories represented at the meeting have tiny populations. For the people of the southern hemisphere, the struggle for national independence was the major issue on the global democratic agenda in the last century. At the birth of the United Nations on October 24, 1945, about a third of the countries in the world were under colonial rule. Following World War II, the wave of decolonisation more less defined the UN in the second half of the 21 st Century. In the process, more than 80 countries achieved national independence. And among these countries are 11 Trust

IIham Aliyev, President of Azerbaijan and Chairman of the Non-Aligned Movement Territories, which secured their self-determination by way of independence. Some, of course, elected to be in association with independent states. However, in this century only South Sudan, Kosovo, Serbia, Montenegro and East Timor have attained national independence. The decolonisation process of the last century in different continents is still considered one the greatest successes of the United Nations. Unfortunately, the attention of the world body appears to have shifted away from the problems of those peoples still seeking national sovereignty. This appears to be a historical regression. Freedom should come to all countries regardless of the sizes of their populations. It is in the context of the foregoing that the Baku Initiative Group (BIG) is focusing on “Neo-Colonialism: Violations of Human Rights and Injustice.” As a side event, a session was held on “Decolonisation: Women Empowerment and Development.” This provided a forum for the specific oppression of women under colonial to be extensively discussed. And diverse experiences were shared. Names of many heroines of the women’s struggles in different countries came

SamAmadi

up for the great lessons they offer. The role of women in the process of decolonisation also received a lot of attention. Political parties and other organisations from the territories under colonial rule and dependencies were represented. Among the main colonial masters are the France, the United Kingdom, the United States, Spain, Netherland and Australia. However, France received the greatest knocks from the representatives of 14 countries at the Baku meeting. The President of Azerbaijan, Ilham Aliyev, seemed to have set the tone in a message to the conference. He recalled that in the 1955 conference that led to the birth of the Non-Aligned Movement in Bandung, Indonesia, one of the basic principles proclaimed was as follows: “The subjection of peoples to alien subjugation, domination and exploitations constitutes a denial of fundamental human rights, is contrary to the Charter of the United Nations and is an evil which should speedily be brought to an end.” He said that Azerbaijan was concerned about colonialism and neo-colonialism. Here is what Aliyev said, inter alia, of France: “Overall, most of the bloody crimes of the colonialism history of mankind were committed by none other than France. France had occupied tens of countries in Africa, Southeast Asia, the Pacific and Latin America, plundered their resources, and for many years oppressed their peoples while perpetrating numerous war crimes and crimes against humanity. The French troops subjected hundreds of thousands of civilians to ethnic cleansing based on their ethnic and religious affiliation. “Throughout 30 years in the 20th Century, France had conducted nearly 200 nuclear tests in French Polynesia and 17 nuclear tests in Algeria. The dire consequences of those tests have, to this day, affected Polynesia and the Algerian people. In response to the appeals by the multitude of organizations, it is imperative to evaluate the repercussions of the nuclear tests and disburse appropriate compensations.” Aliyev’s anti-French rhetoric is understandable because France is an ally of Armenia, a country which Azerbaijan is having a dispute over Nagorno-Karabakh. Only last month, France agreed to supply arms to Armenia just Russia has agreement to supply arms to Azerbaijan. Coincidentally, the groundswell of anger over France’s colonial domination of some territories is coming at the same period with the upsurge of anti-French sentiments in some of its former colonies in West

Africa - Mali, Burkina Fasso, Niger, Gabon etc. The socio-economically asphyxiating influence of Paris in these countries are now being rejected openly on the streets by the people. Military regimes are even embraced in some of the Francophone countries because people consider the toppled politicians as lackeys of France. The case of for decolonisation promises to be another ideological and moral challenge to liberal democracy in this century. This because the hypocritical colonisers happen to be the police of democracy around the world. Meanwhile, one of the basic principles of liberal democracy is the respect for the civil rights of human beings everywhere. Whether in the metropole or in the colony the dignity of the human being should be respected. The provenance of liberal democracy could be located squarely in the European Enlightenment of the 17th and 18th centuries. The inspiration for the pursuit of liberal democracy came from, among other sources, the American revolution of 1776 and the French Revolution of 1789. The following words are embodied in the American declaration of independence: “ “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain inalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” The slogan of the French revolution was “Liberty, Equality and Fraternity.” All these rights and virtues have universal applications. The rights belong to all human beings. However, as the participants at the Baku conference are making the case quite eloquently more than 200 years democratic revolutions in the United States and France, the colonial masters have historically denied the people of the colonies of their rights. Meanwhile, the greatest thing a people could gain from democracy is freedom. A colonised people lack freedom to claim their nationhood. The participants at the Baku conference recounted how this denial was sometimes done with the brutality of colonial suppression. Today, the approach of the imperial powers is more subtle. It is done through ideological manipulation. For instance, when referendums are called in some territories the colonial powers sometimes prop up some elements within the colonies to argue against independence as if the colonised people suffer from the Stockholm syndrome. As one of the participants, Ella Tokoragi, a member of the Tavini Party Independence of French Polynesia, puts it, in the struggle against colonialism and neocolonialism the western ideology that has sustained the systems should be questioned.

guest columnist

An Incoherent Electoral Jurisprudence A part from corruption, which has become the badge of the Nigerian judiciary, the other defining characteristic of Nigeria’s judiciary in electoral petition is incoherence. Decisions of the Nigerian judiciary in electoral petitions are grossly incoherent with the fundamental principle of electoral democracy: to give the people the power to choose those who will make and execute laws on their behalf. Incoherence in this sense is about the lack of unity in decisions on electoral petitions. This lack of unity can be logical or structural or both. Logical incoherence is a mortal failure of adjudication because the chief merit of adjudication is that it is not whimsical. Judges are

not politicians. They are not ordinary folks either. They are Hercule, Robert Dworkin’s mythical judge with the extraordinary ability to unify all disparate principles of law into a coherent moral universe. Judges do not make decisions by instinct or inclination; or by fancy; or even in pursuit of a strategic personal objective. They make decisions that are COMPELLED by the gravitational force of logic. They always strive to make the RIGHT decisions. And the RIGHT decisions cohere and explicate a consistent theory of either the constitutional text or the moral code. It is the fact that judges are not whimsical or fanciful that makes them trustworthy. The people accept judicial decisions because, although they may not understand

the fullness of the reasoning of judges, they trust that they will apply logical principles to established facts. Citizens who are legally enlightened may dispute judicial application of principles to facts, but they do not doubt that judges are coherent and consistent even in their misapplication of the law. The claim that judges are not making law in the guise of adjudication rests on the fact of logical coherence. Without it, the mythology collapses. Sadly, in recent times, some of the decisions of the Nigerian appellate courts indicate that there is a crisis of coherence in whatever passes as electoral jurisprudence in the country. Every now and then there is a judgement from the higher courts that contradicts the previous decision in terms of the principles they establish. But

more dangerous that the inconsistence is the incoherence with fundamental ideas and principles of democracy. This incoherence is dangerous because it demystifies the idealism of judicial decisions, presents them as politics by other means and invites the conclusion that judges are abrogating democracy in the guise of adjudication. We should never forget that the only justification for allowing a few bewigged elites to decide something as fundamental as a dispute about who gets to exercise political authority in a society is that judicial decisionmaking is assumed to be a search for what is right and wrong. Judges find the RIGHT answers to disputes. Continued online

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