WEDNESDAY 14TH DECEMBER 2022 by THISDAY Newspapers Ltd

US-Africa Summit: Buhari Restates 30 Gigawatts Electricity Target By 2030 Seeks financial, technical assistance from US Nigeria, Rwanda become first nations to sign artemis accords United States to commit $55bn to health, climate adaptation in Africa

Ugo Aliogo in Washington DC

President Muhammadu Buhari has restated the Nigerian government’s

target of generating 30 gigawatts of electricity by 2030. Buhari said this during a discussion panel on "Just Energy Transition” at the on-

going US-Africa Leaders' Summit in Washington DC. He outlined the comprehensive energy transition plan of his ad-

ministration, in response to issues associated with climate change. According to Buhari, “As part of the National Renewable Energy

and Energy Efficiency Policy, we set the vision 30:30:30, which aims at achieving 30GW of electricity by 2030, with renewable energy contributing

30 per cent of the energy mix. “Last year, Nigeria became the Continued on page 10

Nuclear Fusion: Scientists Announce Major ‘Limitless Clean Energy’ Breakthrough... Page 10 Wednesday 14 December, 2022 Vol 27. No 10109. Price: N250

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Alake/Onanuga’s Allegations: Obaigbena Clears Air, Challenges Them to Present Their Candidate for Debates Reiterates journalists not their opponents in 2023 election Insists resort to blackmail, fake news, bullying won't work The Chairman/Editor-in-Chief of THISDAY/ARISE NEWS Media Group, Prince Nduka Obaigbena (CON), yesterday, responded to

allegations levelled against him by the All Progressives Congress (APC) Presidential Campaign Council’s (PCC) Director of Media

and Publicity, Mr. Bayo Onanuga and its Director, Strategic Communication, Mr. Dele Alake,and also challenged them to present

their candidate, Bola Tinubu, for debates and town hall meetings in order for the electorate to interrogate his proposed policies and

programmes and make informed choice on who should lead them in the 2023 election. Obaigbena, in a four-page rebut-

tal to an article by Onanuga and Alake, which was in response to an Continued on page 10

Wike: I Would Have Won PDP Primary If it Weren't Manipulated Insists he doesn’t have any rift with Atiku Ex-VP, Okowa, PDP governors salute Rivers governor at 55 Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt Rivers State Governor Nyesom Wike, yesterday, said he would have won the May 28 presidential primary of the Peoples Democratic Party (PDP) if the process had not been manipulated. Wike said this when his political associates and Rivers elders, led by the chairman, Rivers Elders Council, Chief Ferdinand Alabraba, visited to felicitate with him on his 55th birthday. The governor said he was proud of the impact Rivers State was able to make during the presidential primary in Abuja. But he insisted

that there was no rift between him and the PDP presidential candidate, Atiku Abubakar. Notwithstanding, Atiku, his running mate, Dr. Ifeanyi Okowa, and PDP governors congratulated Wike on his 55th birthday. The Rivers State governor reiterated that the crisis in PDP had to do with the demand from the southern stakeholders that the national chairman of the party, Dr. Iyorchia Ayu, who hails from Benue State in the North-central, should relinquish his position, since the presidential candidate was from the Continued on page 10

Obi in Kogi, Pledges to Make Nigeria Producing Nation... Page 43

BUHARI AND HIS DELEGATION IN WASHINGTON DC...

L-R: President Muhammadu Buhari; Kwara State Governor, AbdulRahman AbdulRazaq, and Chief of Staﬀ to the President, Prof. Ibrahim Agboola Gambari, in Washington DC. for the United States-Africa Leaders Summit in the United States…yesterday

WEDNESDAY DECEMBER 14, 2022 • T H I S D AY

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

GREENWICH MERCHANT BANK'S COURTESY VISIT TO EKITI GOVERNOR... L-R: Commissioner For Finance and Economic Development, Mr. Akintunde Oyebode; Head, Investment Banking, Greenwich Merchant Bank, Mr Ken Ero; Secretary to the State Government, Mrs. Habibat Adubiaro; Ekiti State Governor, Hon Biodun Oyebanji; MD, Greenwich Merchant Bank, Mr. Bayo Rotimi; Special Adviser, Investment Trade and Industry, Mrs. Omotayo Adeola; Divisional Head, Corporate Banking, Mr Olanipekun Osundina, and Liaison Oﬃcer, Greenwich Merchant Bank, Mrs. Ope Fatokun, during a courtesy visit to the Governor in Ekiti State….recently

Senate Moves to Whittle Down President's Power to Sack EFCC Head Debates CBN’s cash withdrawal limits today

Sunday Aborisade in Abuja The Senate yesterday considered and passed for second reading a bill seeking to amend the Economic and Financial Crimes Commission (EFCC) Act. Also yesterday, the Red Chamber agreed to debate the cash withdrawal limits announced recently by the Central Bank of Nigeria (CBN) today. The proposed legislation seeking to amend the EFCC Act would make it difficult for the president to sack the head of the anti-graft agency without legislative approval. The bill was sponsored by Senator Chukwuka Utazi (PDP, Enugu).

The bill seeks to ensure that the appointment and removal of the EFCC's chairman would be subject to the confirmation of the Senate. The bill also seeks to amend the commission's establishment Act to restrict non-EFCC staff from heading the anti-agency. Leading the debate, Utazi said the proposed amendment was to bring EFCC in conformity with other anti-graft agencies by guaranteeing security of tenure for the commission's chairman. He said, "For other anti-graft agencies created through the legislative instrumentality, before and later, that is, the Independent Corrupt Practices and Other Related

Offences Commission (ICPC) and Nigerian Financial Intelligence Unit (NFIU), the National Assembly ensured that the headship had security of tenure by ensuring that their appointments and removal, as the case may be, were subject to the confirmation of the Senate. "That was not the case with the EFCC. Therefore, in this proposed amendment, it is intended to bring the EFCC in conformity with the other two anti-graft agencies of government. This will engender optimal performance by the Commission of the very important mandate assigned to it." On barring non-EFCC staff from heading the commission, Utazi said

the amendment would enhance professionalism in the service of the anti-graft agency. Abdurasheed Bawa is the first EFCC staff to be appointed as the chairman of the anti-graft agency. Others who had served as the commission's chiefs were appointed from outside of EFCC. Utazi said President Muhammadu Buhari's action to appoint the EFCC chairman from within was commendable and needed to be backed by law to guarantee tenure security. He said, "President Muhammadu Buhari has carved his name and administration in gold by this very singular action, and posterity will

IPPG: FG's Local Content Policy Has Succeeded in Boosting Indigenous Oil Firms’ Capacity Peter Uzoho The Independent Petroleum Producers Group (IPPG) has said the federal government’s effort in deepening local capacity in the Nigerian oil and gas industry through the implementation of the Nigerian Content Policy has started paying dividends. The group stressed that it was imperative that the effort be sustained and greater focus placed on bridging the capacity gap and addressing funding challenges. Chairman of IPPG and Waltersmith Petroman Oil Limited, Mr. Abdulrazaq Isa, stated this in his keynote address at the just concluded 11th Practical Nigerian Content Forum (PNC) in Uyo, Akwa Ibom State, with the theme, "Deepening Nigerian Content Opportunities in the Decade of Gas.” He noted that the 27-member indigenous oil and gas exploration and production group was a product of the Nigerian Content policy of the federal government, which he described as a clear testimony that the policy had recorded huge success. “The emergence of the strong indigenous exploration and production companies is a testament to the successful local content policy. There is no better or clearer way to demonstrate that Nigerian Content is working. “Nigerian-owned companies

are beginning to play more active roles across the industry. Indigenous companies are now penetrating areas that were once solely dominated by foreign players,” Isa said. He reaffirmed IPPG’s commitment to full compliance with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGIC) Act. He added that the group would continue to partner with the Nigerian Content Development and Monitoring Board (NCDMB) and all relevant stakeholders in a bid to strengthen in-country capacity and increase Nigerian Content for the benefit of the industry and the country at large. The IPPG chairman stated that the theme of the conference - “Deepening Nigerian Content Opportunities in the Decade of Gas,” underscored the importance of re-positioning Nigeria’s oil and gas industry in the face of the ongoing global energy transition as well as divestment of assets by the International Oil Companies (IOCs) in Nigeria. According to him, “the journey towards de-carbonisation of the energy mix is well underway and Nigeria cannot afford to be left behind. Our focus as an industry in the short to medium term must be to rapidly exploit our hydrocarbon assets for the socio-economic transformation of our country and deploying same to guarantee our energy security. "It is reassuring that proactive

and concerted efforts are being undertaken by Government, in particular, towards pushing gas as a major pathway for Nigeria’s Net Zero 2060 commitment.” The IPPG chairman also stated that the group fully supports the declaration of 2021-2030 as the, ‘Decade of Gas’ and would work with all stakeholders to harness Nigeria’s gas resources as the policy has provided the country an opportunity to “galvanise the

industry to fully utilise and commercialise the nation’s abundant gas resources to rapidly catalyse other sectors of the economy.” He also felicitated with the Minister of State for Petroleum Resources, Chief Timipre Sylva, for the major role he played in the realisation of President Muhammadu Buhari’s vision for the oil and gas industry. Continues online

never forget him. "All that is required of this parliament is to endorse this executive action by amending the EFCC Establishment Act to restrict non-trained EFCC staff from headship of the Commission, going forward. This will enhance professionalism in the service of this anti-graft agency." Also, the Senate at plenary yesterday passed the 2023 budget of the Nigerian Communications Commission following the presentation of the Committee on Communications. The NCC 2023 budget was N559,080,711,000.00 made up of total recurrent expenditure of N86. 7 billion, capital expenditure of N5. 2 billion and special projects of N35 billion. The commission was expected to transfer N416 billion out of the projected revenue to the Consolidated Revenue Fund. The red chamber also passed the Universal Service Provision Fund 2023 budget of N16 billion. It was made up of N2. 4 billion recurrent expenditure; N124.8 billion capital expenditure and projects expenditure of N13. 4 billion.

Senate Debates CBN Withdrawal Limit Policy Today

Meanwhile, the Senate yesterday agreed to debate the CBN’s cash withdrawal limits today.

The apex bank had limited maximum cash withdrawal limit for individuals to N100,000 and corporate bodies to N500,000 per week. The Senate President, Ahmad Lawan, disclosed this during plenary, following a point of order by the Senator representing Ekiti North Senatorial District, Olubunmi Adetunmbi. The Senator drew the attention of his colleagues to the absence of the Chairman of the Committee on Banking, Insurance, And Other Financial Institutions, Senator Uba Sani, from the chamber. Adetunmbi, who is also a member of the Committee, said the panel Chairman was billed to present the report of the screening exercise conducted for the two CBN Deputy Governor-nominees - Mrs Aishat Ahmad, and Mr. Edward Lametek Adamu. Both Ahmad and Adamu, were recently reappointed by President Muhammadu Buhari who requested the Senate's screening and confirmation for their second and final tenure at the apex bank Ahmad, who is the CBN Deputy Governor on Financial System Stability , had explained details of the policy to the panel during the screening last week Friday, when she and her colleague, appeared for screening. Continues online

Tinubu in Kaduna,Vows to End Insecurity in North Says Nigerians won’t regret their vote for him John Shiklam in Kaduna Presidential candidate of the ruling All Progressives Congress (APC), Bola Tinubu, has promised to eliminate the bandits terrorising the north if elected president next year. Tinubu assured Nigerians that they would not regret if they gave him the mandate as president. Tinubu made the assertions yesterday in Kaduna while addressing thousands of party faithful and Kaduna residents, at the flag-off of the North-west presidential campaign rally, held at the Ahmadu Bello Stadium. He promised to prioritise job creation, gainful employment of

Nigerian youth, and improvement of agricultural production by establishing a marketing board that would give both farmers and consumers standard prices of agricultural produce. The APC candidate expressed his gratitude to the mammoth crowd of residents for turning out for the rally and for their loyalty to APC. He stated, “We thank God Almighty that brought you people here, we thank you for remaining loyal and faithful to our party, you will never regret it. “In Shaa Allah, all those trouble makers, all those kidnappers, killers who are troubling the security of

Kaduna and northern Nigeria, I assure you, we will eliminate them.” He called on the people to vote all the APC candidates in the 2023 general election. He told the crowd, “May God bless you. God will turn this sunny day to a brighter day and bless you and your children. You will never regret today.” The APC presidential candidate called on Nigerians to get their permanent voter cards (PVCs) and vote APC during the elections. Tinubu stated, “Everyone of you should go home with determination, check your PVC, do not let them deny you your PVC. If you have not collected

your PVC, please, in the name of Almighty Allah that gives power, go and collect your PVC. “Today, the sun is brighter, the sky is clear, we don’t want to talk too much, we want you to go back home in peace, happiness and joy. Our hope is here, we will do everything to make you, the young ones, properly employed. “We will create jobs. We will establish the marketing board that will give you the right prices, that will give you comfort in your homes and make you a better people. May Allah bless you all, thank you very much, Kaduna.” Continues online

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NEWS

PRESENTATION OF ACT FOUNDATION’S NON-PROFIT GUIDEBOOK SERIES TO WIGWE... L-R: Group Managing Director/CEO, Access Corporation, Herbert Wigwe; Chief Executive Officer, ACT Foundation, Osayi Alile ; and Chief brand and communications officer, Access Corporation, Amaechi Okobi, during the Presentation of ACT Foundation’s Non-profit guidebook series to Herbert Wigwe in Lagos … yesterday

N89trn Stamp Duty: Again, Presidency Dismisses Fraud Allegation Says it's ridiculous, complete mockery Malami-led committee to reconcile and transfer stamp duties into special account Deji Elumoye in Abuja The Presidency for the umpteenth time yesterday dismissed the allegation of misappropriation of stamp duty funds and cover-up by top government officials, describing it as ridiculous and a complete mockery. A member of the House of Representatives from Jigawa state, Hon Gudaji Kazaure had claimed that President Muhammadu Buhari secretly set up the committee on the reconciliation and recovery of all stamp duties. He said the president gave the committee the power to detain anyone indicted in the N89.09 trillion “stamp duty cover-up”, adding that only the president could dissolve the committee in which he allegedly functions as secretary. However, responding to the allegations the second time in a week, presidential spokesman, Mallam Garba Shehu, in a statement titled, Stamp Duty: Facts Nigerians Need to Have," dismissed Kazaure’s claims, saying it was ludicrous that a member of the parliament would claim to be secretary of an executive committee. Shehu explained that Buhari came into office in 2015, to find that a law, which stipulated for the collection of a token on banking transactions existed but was not being correctly implemented. He further explained that anomaly arose because certain characters apparently formed a cartel with collaborators in the Nigerian Postal Service (NIPOST) and were allegedly collecting and pocketing the money. According to him, soon after, a non-government organisation posited to the administration that the Nigerian government had lost the sum of over N20 trillion to the Nigerian Inter-bank Settlement System ((NIBSS) between 2013-2016 in this regard, claiming that the said sum could be recovered and paid back into the government coffers. He said the consultants asked to be paid a professional fee of 7.5 per cent and were placed under

the supervision of the Secretary to the Government of the Federation (SGF). Shehu stressed that following the lack of progress in the promised recovery, the late Chief of Staff to the President, Abba Kyari, had written on March 8, 2018, to the SGF conveying a presidential directive that following the lack of progress and several expressed concerns received, the activities of the consultants be discontinued. In the aftermath of the dismissal, the presidential spokesman said the consultants sued the government, but a court of competent jurisdiction subsequently ruled in favour of the government. Shehu further claimed that having lost a potentially “lucrative” line of “business,” the sacked characters returned to the drawing board to formulate one form of trick or another to intimidate the government, but the vigilant teams of the administration kept them at bay. He further claimed that they returned to the government through Hon. Muhammadu Gudaji Kazaure with a plan to track the so-called lost stamp duties with the erstwhile consultant as chairman and Kazaure as secretary. With the current development, he said the consultants and petitioners’ claims of a missing N89 trillion from stamp duty was false and a figment of, “their malicious imaginations.” Shehu asserted that if the federal government could find N89 trillion, it would pay off all its debt, both foreign and local currency and all state government debts and still have over N10 trillion left. He said, "When it emerged that the petitioner and lead consultant of the committee the President had dissolved via the late Abba Kyari’s letter of March 28 had masqueraded himself and re-emerged as the chairman of the new recovery committee championed by the Hon. Gudaji, the president rescinded the approval he gave and asked that it be stopped from operating under the seal of his office. “In addition to this committee being chaired by a petitioner, there

were also other concerns relating to natural justice and fair hearing in having the Chief Justice of the Federation as a committee member and a serving member of the House of Representatives as Secretary, which are not in line with Section 5(1),(a)&(b) of the 1999 constitution of the Federal Republic of Nigeria (as amended). "Once the President rescinded his approval to constitute this Committee, lost all legitimacy. Arguments have in recent days been flying left and right over the rightfulness of a committee being dissolved. “People are entitled to hold opinions. But these opinions do not change the fact that under our constitution, the power of the president to appoint and remove persons or groups is duly entrenched and unless such powers are shared with the parliament, the president can hire and fire literally at will, and in line with the law.” The presidential spokesman, responding to questions posed to him by Kazaure on the money with CBN I & E window Account that stood at $171 billion as at 2020, said, "To my knowledge, the CBNestablished Investors and Exporters (I&E) Window is a foreign exchange trading platform where banks and other authorized dealers can buy or sell foreign exchange. These trades are recorded by the CBN daily and reported as turnover or activity in the market. "Contrary to Hon. Kazaure’s assertion, the I&E window is not an “account” where foreign exchange is deposited. It is simply a platform for trading foreign exchange. As of April 2020, the total amount of foreign exchange traded (either bought or sold) in the window was about $171 billion. “The size of this amount suggests that there is adequate liquidity or availability of foreign exchange and that anyone who wants to buy or sell would easily find a counterparty to trade with. The amount does not mean that we have $171 billion stacked away in some vault or saved in any account. “Note that both the CBN and

authorised dealers are free to bring foreign exchange to the window, and in fact, the CBN is not the major seller of Foreign Exchange in that segment of the market." On the N23.4 trillion CBN gave as a loan to some banks, Shehu said, "the CBN is best placed to respond to this question though I must say the assertion itself is both baseless and misleading. The total balance sheet of the CBN is not anywhere near N23 trillion. So how can it give such an amount in loans to any or some banks?" Responding to issue of N13 trillion loan to the federal government from FMDQ, he said, "According to the DMO, the total amount of Nigeria’s domestic debt as of

September 2022 is N21.6 trillion. Is Hon. Kazaure suggesting that a small company in Lagos holds over 60 per cent of Nigeria’s domestic debt? “More also, of the N21.6 trillion domestic debts, only N4.5 trillion are in Treasury Bills? How then can a company in Lagos hold more treasury bills (N13 trillion) than the entire treasury bills issued by the Federal Government? “For the avoidance of doubt, I also took time to reach out to the FMDQ (Financial Markets Derivative Quotes) and understand from their audited financial statements that their holdings of FGN Treasury bills is just N7.99 billion as of December 2021. “Finally, what is the total equity

of CBN and its National budget? Anyone who understands this question should provide an answer. I can offer this information: on an annual basis and in line with the Fiscal Responsibility Act, the CBN transfers 80 percent of its operating surplus to the Federal Government as part of the budget revenues. In the last six years, this contribution has amounted to over N150 billion." He however added that the president has not completely ignored these matters, saying a duly authorised committee under the Attorney-General and Minister of Justice, Abubakar Malami, was working to reconcile, recover and transfer all Stamp Duties into Stamp Duties Central Account.

Northern Group: Those Opposing CBN’s Policies are Enemies of Nigeria John Shiklam in Kaduna The Unified Northern Nigeria Youths Forum (UNNYF) has said those attacking the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, over his recent policies are enemies of the country. In a statement yesterday in Kaduna, the group alleged that “some unpatriotic, overzealous and corrupt individuals were fighting dirty with every weapon at their disposal to stop the CBN governor from emancipating the Nigerian masses from the shackles of bondage by wicked individuals.” The statement signed by Publicity Secretary of the UNNYF, Aliyu Mohammed, also took a swipe at Muhammad Kazaure, a member of the House of Representatives from Jigawa state, for making baseless accusations against Emefiele in a video clip without substantiating his claims. The group said the lawmaker alleged that the CBN governor could not account for a sum of N89.1 trillion stamp duty collected from banks and other financial institutions. It described the allegations as “fake”, coming from a rumour monger.

“We wish to in all ramifications debunk that rumour, it is a falsified story that is absolutely fake. “We wish to clear the air and remind Nigerians that Dr Godwin Emefiele remains the man of integrity that we all know, an intellectual who is versed in economic and development issues.” According to the statement, “The alleged committee the lawmaker referred to, which he claimed to be the secretary, is illegal and stands dissolved on the directive of President Muhammadu Buhari as rightly stated by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu.” Mohammed maintained that “the only committee that was ever formed and still exists, is the one chaired by Attorney General and Minister of Justice with the Chairman of the Federal Internal Revenue Service (FIRS), as its secretary.” The UNNYF urged Nigerians to disregard Kazaure’s allegations, saying there was no iota of truth in it. “It is a public knowledge that since the CBN announced its intention to redesign some denominations of the naira notes, enemies of democracy and Nigeria's progress have come out to attack Emefiele.

“More recently, the CBN announced its policy on limiting withdrawals rate, this has also pushed these set of unpatriotic, overzealous and corrupt individuals to fight dirty with every weapon they have to stop the CBN Governor from emancipating Nigerian masses”, the group added. According to the statement, “The CBN governor had lucidly explained that one of the reasons for redesigning some denominations of the naira note was to systematically recollect the over N2.7 trillion out of N3.1 trillion outside the banking hall, hidden and illegally being used for ungodly acts in the hands certain persons. “The reason for the withdrawal restriction policy is to clamp down on terrorism, because terrorism can only fare where there are unchecked flow of huge amount of cash. Secondly, to also restrict unnecessary cash flow that is only favorable for corrupt acts such as vote buying, election mal-practices and siphoning of public funds. “Kazaure and every patriotic Nigerian should be happy and proud of Dr Emefiele's foresight, courage and achievements as the CBN.”

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NEWS

SANWO-OLU COOKS AT LAGOS FOOD FESTIVAL... L-R: Special Adviser to Lagos State Governor on Agriculture, Dr. Oluwarotimi Fashola; Commissioner for Agriculture, Ms. Abisola Olusanya; Senator representing Lagos East, Sen. Tokunbo Abiru; Lagos State Governor, Mr. Babajide Sanwo-Olu; and Nmor Rucker (Chef Tucker), during 2022 Lagos Food Festival held at Muri Okunola Park in Lagos...recently

OPEC Conﬁrms Nigeria Produced 171,000bpd Additional Barrels in Nov Brent crude stabilises at $78 Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) has confirmed that Nigeria produced 171,000 barrels per day in November, still about 700,000 barrels per day less than its quota for the month. Making the disclosure in its Monthly Oil Market Report (MOMR) for December, OPEC stated that considering direct oil production report from the country, Nigeria’s output increased by about 171,000 bpd last month to hit 1.186

million bpd. The figure, the OPEC report indicated, were far less than what they were in 2020, regarded as the Covid-19 year, when Nigeria produced 1.493 million bpd and in 2021, when it averaged 1.323 million bpd. Nigeria’s OPEC quota has averaged 1.8 million bpd in the last couple of months. However, the production began to slump markedly in the first quarter of 2022, the report stated, when Nigeria drilled 1.3 million bpd on the average, further reducing to 1.133 million barrels

in the second quarter and falling substantially to 999,000 bpd in quarter three of this year. Nigeria has blamed oil theft and pipeline vandalism for its inability to meet its production allocation for about a year. In terms of the general outlook, OPEC stated that Nigeria’s economy expanded by 2.3 per cent y-o-y in 3Q22, decelerating from the growth of 3.5 per cent y-o-y in Q2, 2022. The report explained that this marked the eighth consecutive quarter of growth, yet the slowest

rate since the first quarter of 2021. Moreover, it noted that economic conditions were challenged by the factors such as natural disasters that have hampered productivity in the country. Nigeria recently experienced massive flooding in at least one third of its states. Stating that non-oil sector has been the key growth engine, OPEC stressed that this expanded at a slower pace of 4.3 per cent y-o-y in 3Q22 compared with 4.8 per cent in 2Q22. “The inflation rate accelerated to its highest level in 17 years in

October as localised food, and fuel shortages increased the headline inflation rate to 21.1 per cent y-o-y from 20.8 per cent y-o-y in September,” it added. According to the report, OPEC oil production in November decreased by 744,000 barrels per day compared to October, which was 28.83 million barrels per day, with the members of the organisation fulfilling the oil agreement by 174 per cent. "According to secondary sources, total OPEC-13 crude oil production averaged 28.83 million bpd

2023: Mbah Pledges to Activate Dormant Oil Fields in Enugu The governorship candidate of the Peoples Democratic Party (PDP) in Enugu, Dr. Peter Mbah has pledged to ensure the activation of dormant oil fields in the state to boost the economy of the state when elected governor in 2023. Mbah, while noting and commending the official designation of Enugu State as an oil producing given the oil wells co-owned by Enugu, Kogi and Anambra States in the Anambra River Basin, as a good development, promised to bring in foreign investors to fast-track the exploitation of other oil and gas fields solely owned by the state. According to a statement, he spoke during town hall meetings attended by community, political, and religious leaders as well as youth and women groups, labour and professional bodies at Idaw River Layout and Eke Otu, Amechi-Uwani, headquarters of Enugu South East and Enugu South Central Development Centres, respectively, in Enugu South Local Government Area (LGA) of the state. “Apart from the OPL 916, which is co-owned, Enugu State has three other oil fields, including OPL 905, OPL 907 and OPL 914. We have the data of the oil deposits in these fields and we would begin to generate revenues from them. “We equally have a lot of other mineral resources such as limestone,

and coal, among others, and we must optimise them for the development of our state” he stated. Mbah, who restated his determination to build Enugu into a $30 billion economy from the present $4.4 billion, equally promised to invest heavily in education, skill acquisition and vocational training to tackle unemployment, noting that massive job creation remained one of his major multi-pronged strategies to tackle insecurity in the state. Meanwhile, the people of Enugu South LGA have assured Mbah of resounding success across the electoral wards in the local government in the 2023 general elections Speaking, the Council Chairman of Enugu South Local Government Area, Hon. Chimezie Nkwuo, said the people’s faith in Mbah was predicated on his inclusive approach to governance, adding that his decision to hear from the people on their specific needs despite his well-detailed manifesto, was a hallmark of people-oriented leadership. In the same vein, the PresidentGeneral, Obeagu Community town union, Chief Andy Egbo, commended Mbah for the town hall meetings, which he described as unprecedented in the history of elections in Enugu Stated, noting that it was a clear indication that he would be an accessible governor.

Egbo called for immediate steps to tackle the problem of insecurity in Obeagu and Enugu South Central Development Centre to ensure smooth campaigns and 2023 general elections. Equally, critical stakeholders, political and community leaders, among them the member representing Enugu South/Enugu North Federal Constituency, Hon. Ofor Chukwuegbo; former Ambassador

of Nigeria to Japan, Ambassador Gordi Agbo; Member representing Enugu South Urban State Constituency, Hon. Sam Ngene; and former Commissioner for Lands and Urban Development, Okey Ogbodo, while pledging the people’s support called for more democracy dividends for the people of the area. Ogbodo observed that Enugu South LGA had been caught up by urbanisation, which had robbed

the LGA of agricultural lands and equally led to emergence of urban slums due to inadequate infrastructure and enormous pressure on the few available ones. Former Deputy Chairman of Enugu South LGA, Hon. Duke Nwafor, an alumnus of the East London University just as Mbah, recalled that the gubernatorial candidate stood out as a student at the university.

in November 2022, lower by 744 bpd m-o-m. “Crude oil output increased mainly in Nigeria and Angola, while production in Saudi Arabia, the UAE, Kuwait and Iraq declined," the report said. In the same vein, out of 13 OPEC countries which have obligations to limit production under the OPEC+ deal, and were supposed to reduce oil production by 1.273 million barrels per day from the level of August, the total production reduction in November was 2.211 million barrels per day. Meanwhile oil rose by less than $1 in the afternoon session yesterday, as declining optimism over a Chinese oil demand recovery capped support from supply disruptions. Brent crude futures were up 62 cents, or 0.79 per cent, to $78.61 per barrel by , while United States West Texas Intermediate (WTI) crude futures gained 34 cents, or 0.46 per cent, to $73.51. Prices rose by over $1 per barrel earlier in the session but eased after Chinese leaders reportedly delayed a key economic policy meeting, amid surging COVID-19 infections, according to Reuters.

SWV: Senate Asks Finance Ministry to Provide Documents On Missing N113m JAMB Salary Sunday Aborisade in Abuja The Senate Public Accounts Committee yesterday gave 48 hours ultimatum to the Permanent Secretary of the Ministry of Finance to provide sensitive documents on the disbursement of Service Wide Votes (SWV) and missing N113 million on salary adjustment for the Joint Admission Board Matriculation (JAMB) or risk a warrant of arrest by next week. The Committee chaired by Senator Mathew Urhoghide, gave the ultimatum during his panel's investigative hearing. The Panel had written a letter

of appearance to the Ministry on October 20th, 2022, and the letter was received by the Ministry on 21 October, 2022, to also give details of release to all MDAs including the Police and Armed Forces. Also, another letter was written to the Ministry on December 8, 2022, on the issue concerning missing N113 million of salary augmentation for JAMB. Record from the office of Accountant General of the Federation (AGF) revealed that the N113 million was released to JAMB in May 2017 for salary augmentation. In the invitation letter written to the Ministry of Finance, the Ministry

was invited to make clarification on the matter at stake at the Committee's room yesterday, which the Ministry officials failed to honor. The representative of JAMB, Director of Finance and Account, M. Bello, during the panel's investigative hearing, claimed that the N113 million was not released to them arguing that if the money was released it would have cut across the whole year. According to the JAMB Director of Finance, it would have cut across all MDAs using CONLESS. Not satisfied aby the absence of the Permanent Secretary of Ministry of Finance, Senator Urhoghide

gave him 48 hours to appear and provide the relevant documents to the Committee or face warrant of arrest by next week. He said they have to appear before the Committee by Thursday this week , since JAMB had denied knowledge of the funds release. He said, "We want to interface with them in your presence (Cash Management Office has to come before this Committee) this payment was used to clear salary adjustment of 2017." He added that failure of the Ministry Permanent Secretary to appear on Thursday would lead to warrant of arrest by next week.

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TEN

Nuclear Fusion: Scientists Announce Major ‘Limitless Clean Energy’ Breakthrough This is game-changing, world-improving, lives-saving history unfolding in real-time, says US energy secretary The United States has announced a nuclear fusion breakthrough, a historic step towards the promise of “near-limitless” clean energy. “It will go down in the history books,” UK-based Independent quoted Energy Secretary, Jennifer Granholm, to have said in Washington DC yesterday, alongside scientists from the Lawrence Livermore National Laboratory in California. For 70 years, hundreds of scientists and engineers have attempted to replicate the energy process of atoms fusing together that powers the sun and other stars. It is an enormously complex

- and expensive - process which is highly unstable due to the high temperatures and pressures involved. Now, for the first time, the California lab team used lasers to achieve a “net energy gain”, producing more energy in a fusion reaction than was used to ignite it. Scientists heralded the breakthrough but said there were still decades of work to be done before fusion would be powering our everyday lives. Nevertheless, the fusion breakthrough has the potential to significantly impact the trajectory of the climate crisis - driven by the

planet-heating emissions created by burning fossil fuels. According to CNN, the breakthrough was made by a team of scientists at the Lawrence Livermore National Laboratory’s National Ignition Facility in California on December 5 – a facility the size of a sports stadium and equipped with 192 lasers. Granholm was further quoted to have said: “Ignition allows us to replicate, for the first time, certain conditions that are only found in the stars and sun.” Granholm added: “This milestone moves us one significant step closer to the possibility of zero-carbon,

abundant fusion energy powering our society.” Granholm said scientists at Livermore and other national labs do work that would help the US move quickly toward clean energy and maintain a nuclear deterrent without nuclear testing. “This is what it looks like for America to lead, and we’re just getting started,” Granholm said. “If we can advance fusion energy, we could use it to produce clean electricity, transportation fuels, power, heavy industry and so much more.” NIF's target chamber is where the magic happens -- temperatures of

100 million degrees and pressures extreme enough to compress the target to densities up to 100 times the density of lead are created there. Director of the White House Office of Science and Technology Policy, Arati Prabhakar, spoke about how, as a young scientist early in her career, she spent three months at Lawrence Livermore working on its nuclear fusion project. Prabhakar reflected on the generations of scientists who got to today’s achievement with nuclear fusion. “It took not just one generation but generations of people pursuing this goal,” she said.

“It’s a century since we figured out it was fusion that was going on in our sun and all the other stars. In that century it took so many different kinds of advances that ultimately came together to the point that we could replicate that fusion activity in a laboratory.” The director of the Lawrence Livermore National Laboratory, Kim Budil, said to “realise commercial fusion energy ... many, many things” need to be done, such as creating “many, many fusion ignition events per minute”. She added that a “robust system of drivers” was needed “to enable that.”

signed by Cyril Maduabum, said on Wike’s birthday, "The Forum joins members of his family and friends and, indeed, all citizens of Rivers State, to celebrate a man of many dynamic parts, who has redefined the essence of performance in public office through the provision of massive dividends of democracy in an era of scarce resources to government at all levels. Governor Wike has been a standard bearer in leadership and creation of the enabling environment for purposeful development of the state. "As the governor of Rivers State in the past seven years, he has transformed the landscape of Rivers State with life impacting projects, a feat that has won him numerous accolades globally, including the Distinguished Award

in Infrastructure Delivery of the Nigerian Excellence Award in Public Service, NEAPS, presented by President Muhammadu Buhari in October 2022. "In road and bridges construction, Governor Wike has been outstanding since 2015, culminating in the recent avalanche of commissioning activities across the state by prominent Nigerians. The biting Port Harcourt traffic gridlocks have today become a thing of the past following massive flyovers projects executed by Governor Wike. "His initiative in sports development has been catalytic in empowering the youth of the state to make a career out of sports and powered Rivers United FC to emerge the 2022 Nigeria Professional Football League Champions, among others."

WIKE: I WOULD HAVE WON PDP PRIMARY IF IT WEREN'T MANIPULATED same region. He maintained that the demand that the north should relinquish the position of national chairman to the south remained a panacea to the problems rocking the party. Wike recalled that last year, the Rivers elders had urged him to contest for the office of the president of Nigeria. He said he heeded the advice and almost clinched the PDP presidential ticket, but for the manipulation of the process. The governor stated, “I don't regret I ran for presidency. In the name of God, I am happy to make Rivers State proud. I am happy, as far I am concerned. If they had allowed it to be what it is supposed to be, I would have won the election. But it's okay. It has happened. “People said because I lost election, it doesn't matter. I didn't lose election. This is my first time of trying to run for the president of Nigeria and we made impact. If it is easy, let them go ahead. Are they not the ones begging? “I have no problem with the presidential candidate. All I am saying is, what is the interest of Rivers people? What is the interest of the South-south, and the South?” He said the reason some of his Ikwerre kinsmen, like Celestine Omehia and former Deputy Speaker, House of Representatives, Austin Opara, were begrudging him was his insistence that it would be morally offensive for an Ikwerre man to succeed him or even emerge as PDP candidate for Rivers East

senatorial district. Wike explained, “I called Austin (Opara), he sat here and I said, ‘look my, brother, leave it, it will not work.’ “I don't want to cause crisis in our system. Amaechi finished eight years as governor, I'm going to finish eight years as governor, too. It will be difficult to sell another Ikwerre person as governor for another eight years. Omehia said he wants to go to the Senate, I said leave it. Ikwerre has gone, Ogu has gone, leave Etche to go. “You people said I should go (to Senate), I said I won't. Allwell (Onyesoh) could not have stopped me. Yes, today we are majority; you don't know what tomorrow will be. I never did anything to undermine anybody. We must understand that.” Wike described as sheer hypocrisy the allegation that he foisted the Rivers State PDP governorship candidate, Sim Fubara, on the party. He said Fubara’s emergence was a collective decision reached after those who had indicated interest to succeed him failed to reach a consensus to produce one candidate. He said, “When O.C.J Okocha comes back, we will publish the agreement signed by all.” The governor urged PDP leaders to remain steadfast and focused, saying the sterling performance and transformational leadership provided by his administration since 2015 would help the party to win the 2023 election with ease. Meanwhile, congratulating Wike

on his 55th birthday, Atiku said, "As you turn 55 today, I pray that all lines fall in pleasant places for you. Enjoy your special day." Okowa also congratulated Wike in a statement by his Chief Press Secretary, Mr. Olisa Ifeajika, in Asaba. The Delta State governor said Wike, as a leader, was worth celebrating for his impressive achievements in the governance of Rivers State. He commended the Rivers State governor for his contributions to the growth of the polity as a chieftain of the PDP and statesman. The governor said Wike had left bold footprints on the sands of time with his numerous landmark achievements in Rivers State, particularly, in Port Harcourt, where he

had successfully renewed the city’s landscape with key infrastructure, including flyovers, bridges, and roads. Okowa stated, “On behalf of the government and people of Delta, I congratulate my dear brother and Governor of Rivers, Nyesom Wike, on his birth anniversary. The people of your state, the South-south and Nigerians are proud of your sterling and laudable accomplishments in the administration of Rivers. “As you celebrate this year’s anniversary of your birth, it is my prayer and that of the government and people of Delta that God grants you greater wisdom and good health to continue rendering service to Him and humanity.” Similarly, a statement by Directorgeneral of the PDP governors forum,

ALAKE/ONANUGA’S ALLEGATIONS: OBAIGBENA CLEARS AIR, CHALLENGES THEM TO PRESENT THEIR CANDIDATE FOR DEBATES earlier statement by the THISDAY/ ARISE News Board of Editors, titled: “Tinubu and THISDAY/ ARISE Media Group and the Attack on Free Speech,” stressed that journalists were not the opponents of the APC presidential candidate in the forthcoming election. The statement titled: “Lies Have Short Legs, They Do Not Run Far – The Fake News from Bayo Onanuga and Dele Alake,” and categorised into four parts, was signed by Obaigbena’s Chief of Staff, Fawuziya Mohammed. While noting that although many APC-PCC members, had

personally called to dissociate themselves from the resort to blackmail, personal attacks and bullying by Alake and Onanuga, the statement noted that, “everyday the media calls on public officials and those who seek public office to account,” establishing that there was nothing personal with the APC candidate. Starting with issues around the late Chief M.K.O Abiola and the June 12 struggle, Obaigbena pointed out that, when the late Abiola was the standard bearer of the Social Democratic Party (SDP) for the 1993 presidential election,

he was a senatorial candidate on the platform of the National Republication Convention (NRC). According to Obaigbena, Abiola then supported SDP’s candidate, the late Chris Okolie, leading to a strain in their relationship. He further noted that he was also Special Adviser to the NRC National Chairman, Tom Ikimi in 1991, and later Hameed Kusamotu. “Before and after the annulment of the 1993 presidential election, Abiola and Obaigbena were friends and remained friends till the end. Abiola was broad-minded enough to understand that Obaigbena, like

who previously didn’t have access. We’re proud to announce a new investment of $290 million in that programme.” Meanwhile, Nigeria and Rwanda signed the Artemis Accords, making them the first African signatories to the agreement. Participants at the forum, which was part of the on-going US-Africa Leaders’ Summit, discussed how to further share goals through peaceful exploration and use of outer space. The Artemis Accords are a set of principles to guide the next phase in space exploration, reinforcing and providing for important operational implementation of key obligations in the 1967 Outer Space Treaty. The Accords affirm the importance of implementing best practices and norms of responsible behaviour as well as compliance with the Registration Convention and the Rescue and Return Agreement. Minister of Communications and Digital Economy, Professor Isa Ibrahim, signed the Artemis Accords on behalf of Nigeria, while the CEO of Rwanda Space Agency, Francis Ngabo, signed on behalf of Rwanda. They were joined on the U.S. side by Assistant Secretary of State Monica Medina, Administrator of the National Aeronautics and Space Administration (NASA), Bill Nelson, and Executive Secretary of the National Space Council, Chirag Parikh. With their signatures, 23 nations have signed the Artemis Accords.

his other friends in NRC, were competitors for power. But that competition ended, when Abacha took power and all true democrats moved against military rule. “Indeed, Abiola’s last public appearance was an Obaigbena event at the Nigeria Institute of International Affairs (NIIA) on June 8,1994, where he took the Abacha government to the cleaners while demanding his mandate. After his speech against the Abacha junta, he went underground only to reappear in Epetedo, Lagos Island, on June 12,1994 to declare himself president. “The rest, as they say, is history. Some weeks before the Epetedo Declaration on May 9,1994, Abiola and Obaigbena had met on a South African flight from London to Johannesburg for Nelson Mandela’s presidential inauguration. Obaigbena sat on one side of an aisle seat, while Abiola sat on the other side of that aisle seat with his wife Kudirat taking the window seat next to him. “Abiola reminded Obaigbena that he had driven all the way from Ilorin to Lagos City Hall to attend his wedding in 1987. I then invited him to my event of June 8,1994. As we arrived Johannesburg International Airport as guests of the Mandelas, Obaigbena was witness to his claim of being the elected Nigerian President and his delegation was driven off in official motorcade while Obaigbena made his way to the Carlton Hotel, downtown Johannesburg (the same hotel most invited guests lodged), and later bussed to Union Building in Pretoria, venue of the inauguration, where he ran into Dele Olojede who was covering the event for a New York newspaper,” he explained. According to the THISDAY/ ARISE News Chairman, the military leader at the time, Abacha soon arrived and on his delegation were then foreign minister, Babagana Kingibe, Naval Chief Allison Madueke, former president Shehu Shagari and ex-Head of State Yakubu Gowon. He added: “Although I promised to help, that opportunity did not come until 2003, when we started

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US-AFRICA SUMMIT: BUHARI RESTATES 30 GIGAWATTS ELECTRICITY TARGET BY 2030 first African country to develop a detailed Energy Transition Plan to tackle both energy poverty and climate change and deliver SDG7 by 2030 and net-zero by 2060. “Our Federal Executive Council (FEC) approved the plan earlier this year and adopted it as a national policy. As part of the plan, we intend to completely eliminate the use of petrol/diesel generators by 2060 and therefore need to deploy renewables, particularly solar, at an unprecedented scale. "For instance, the Energy Transition Plan requires that 5.3 GW of Solar be deployed annually until 2060 to achieve our targets.” The president further explained that the Nigerian government had embarked on several reforms, including mini-grid regulations as well as the integration of renewable energy into the national grid. He disclosed some of the reforms, which had positively impacted the energy sector in Nigeria. The president said, “Our aggressive power sector reforms have resulted in cost-reflective tariffs in the power sector for the first time since privatisation. Under the Nigeria Electrification Project, over four million people have been impacted through solar mini-grids and solar stand-alone systems. With respect to hydro, the Zungeru hydropower project is nearing completion and will add 700MW in capacity to the grid.” Buhari also called for “considerable financial and technical support” to achieve the goals.

According to him, “For instance, our analysis shows that delivering the Energy Transition Plan requires $1.9 trillion spending up to 2060, including $410 billion above businessas-usual spending. "This additional financing requirement translates to a $10 billion investment needed per annum. Between 2000 and 2020, just $3 billion per year was invested in renewable energy in the whole of Africa. “Consequently, the $10 billion per year target of our Energy Transition Plan represents a significant scaling of current investment flows and we need support from the US to mobilise the needed resources. It is important to note that for African countries, the cost of finance and perceived investment risk remains significantly higher than for developed economies despite vast improvements in stability and governance. "For our clean energy market to scale, Nigeria and more broadly Africa needs concessional, lowinterest capital-led investments. “Furthermore, we believe that the Nigeria Energy Transition Plan and the net-zero compliant investment pipeline we have developed is prime for a just energy transition partnership like the one offered to South Africa and more recently, Indonesia. "Nigeria too seeks support from the US to be included in the G7’s Climate Partnerships List for the co-creation of a Just Energy Transition Partnership.” Buhari also called on US businessmen and the global community to tap, "into the innovation and potential

returns in our enormous market which is yet to be fully optimised." Earlier in his remarks, the US Secretary, Department of State, Antony Blinken, said communities across the continent were feeling the impact of a changing climate,]. Blinken said severe storms had battered southern Africa; surging temperature kindle wildfires in northern Africa; rising seas threaten lives and livelihoods on island nations, while extreme weather events in central Africa worsen already-dire food crises and fuel tensions that feed and fuel violent conflict. He said they were aware that African nations had contributed relatively little to the crisis, but added that Africa was disproportionately harmed by it. He stated that it was both unfair and unrealistic to ask Africans to turn their backs on economic development and opportunity in the name of a clean energy transition. According to Buhari, “First, we are partnering to conserve ecosystems. Africa is home to some of the world’s most precious ecosystems, which are critical for combating climate change. "And we are building new coalitions between African governments, the private sector, civil society to protect other vital ecosystems across the continent. Oceans are also a key part of this fight. " That’s why we’ve launched the Ocean Conservation Pledge to encourage countries to commit to protect at least 30 per cent of their ocean waters by the year 2030. “Second, we are partnering to

make commitments and communities more resilient in the face of climate change. The President’s Emergency Plan for Adaptation and Resilience is working with national governments to help more than half a billion people in developing countries manage the impacts of climate change. "This and other initiatives to support climate-resilient agriculture are increasingly critical as Russia’s war of aggression compounds the impact on food security. “Africa will be at the centre of the clean energy transition. Its renewable energy potential is second to none. It’s home to roughly a third of all critical minerals, essential to the technology that will power the clean energy economy, like batteries for renewable energy storage and wind turbines. "But with nearly half of SubSaharan Africa’s population lacking reliable access to electricity and the population set to grow to more than two billion people by 2050, how that transition is made will be decisive in shaping our future climate. “The United States will work closely with African countries as they determine how best to meet their specific energy needs – understanding that, for many, the clean energy transition will be a transition to consistent, reliable energy in the first place. We’ll do so through programs like Power Africa, which has mobilised the public and private sectors to deliver cleaner, more reliable electricity to over 165 million people in Sub-Saharan Africa

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ALUMNI ASSOCIATION'S SUPPORT PROJECT... L-R: Vice- Chancellor, University of Abuja, Prof. Abdul- Rasheed Na'Allah, Representative of Love and Light University of Abuja Alumni Association, USA, Mrs. Tracy Ejim, and Director Development PHOTO: KINGSLEY Agency of University of Abuja, Prof. Ubom Bassey, during the Alumni Association's Lecturer Support Project held in Abuja.... yesterday

House Laments Lingering Fuel Scarcity, Issues NNPCL 7-Day Ultimatum to Return Normalcy Directs NMDPRA, security agencies to ensure price regulation Moves to include petroleum ministry in SON to fight substandard petroleum products Udora Orizu in Abuja The House of Representatives at plenary yesterday urged the Nigerian National Petroleum Company (NNPC) Limited to end the lingering fuel scarcity in some cities in the country within the next one week in order to ease the suffering of Nigerians. The lawmakers also called on Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) to collaborate with the Nigeria Police Force and the DSS to ensure that petrol was sold at the regulated price in all retail outlets. The resolutions of the lawmakers followed the adoption of a motion of urgent national importance, 'on the need for the government to end the current fuel scarcity', sponsored by Hon. Saidu Musa Abdullahi. Moving the motion, Abdullahi lamented that in the last few months, Nigerians have been subjected to untold hardship caused by the lingering petrol scarcity, affecting economic activities and making the already trying times in the country more difficult. He expressed concerns over intelligence reports on the current scarcity gathered by securities agencies which had indicated that there was a deliberate plan by some oil marketers to derail efforts of the government in the distribution of fuel in the country by hoarding the petroleum products and thereby

creating artificial scarcity all over the country. He said: "Soon after floods/rains receded in Lokoja and the petrol scarcity continued, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), said the situation has continued to persist because of the supply gap created by the blockade in Lokoja. “The IPMAN affirmed that there was enough product in the depots and that the lingering scarcity was only caused by the break in supply of the product. “When the scarcity continued, and all the excuses advanced by the stakeholders watered down, the National Operations Controller of IPMAN advanced another reason and argued that the scarcity is because of an unsteady supply of the products. "Worried that most of those fuel stations have resulted in selling fuel at over N300 per litre. It is observed with dismay that those who are gaining from this artificial fuel scarcity appear to be smiling home as a result of this ugly development and this has the potency to provoke innocent Nigerians against the government. “Further worried that generally, there is a hue and cry over this ugly development and unfortunately, those that are charged with the responsibility of taking control of this situation are not doing enough to combat the ugly development. This appears to be a dangerous

signal that the government must tackle without further delay to restore normalcy.” Adopting the motion, the House mandated its Committees on Petroleum Resources (Downstream) and Legislative Compliance to ensure compliance. Meanwhile, the House of Representatives yesterday passed through second reading a bill seeking to amend the Standards Organisation of Nigeria (SON) Act to provide for the inclusion of a representative from the Federal Ministry of Petroleum Resources in the organisation and expand its functions to include investigation and quality assurance certification of petroleum products.

The proposed legislation, tilted: "Bill for an Act to amend the Standards Organisation of Nigeria Act, 2015 and for other related matters (HB.1749)," was sponsored by Hon. Sergius Ogun and Hon. Ganiyu Abiodun Johnson. Leading the debate on its general principles, Ogun said the bill specifically seeks to amend section 3(1)(b) of the Principal Act by inserting a new sub paragraph to help enhance the effectiveness of SON in ensuring quality of products (especially petroleum products) and improving the fight against substandard or fake products in the country. He said, "One of the primary government agencies saddled with the responsibility of regulating

The Enough is Enough Nigeria (EiE), a non-partisan network of individuals and organisations has launched an Office of the Citizen (OOTC). WhatsApp-enabled bot known as CHATBOT to further engage Nigerians on their rights as citizens and demand good governance, probity, accountability and their representatives in all level of government. The new addition to the EiE portfolio was unveiled to the public at the organisation's book presentation, ‘Footprints: Past. Present. Future,’ and fundraising to mark its 12th anniversary at MUSON Centre, Onikan in Lagos yesterday.

Addressing the gathering EiE Nigeria’s executive director, Yemi Adamolekun stated that, “Nigerians need to understand the importance of the office of the citizen hence this new assistant on civic engagement. “It is a WhatsApp bot and it will assist citizens to know their elected officials such as governors, senators, House of Representatives members, State House of Assembly members, Local Government chairmen and councilors. CHATBOT would also assist with registration, PVC collection, polling unit (PU) locator and debates. To get started send ‘hello’ via WhatsApp to 017006381 or scan the QR code,” she added. A democracy is driven by people, she said. “Now that you know

metrology. It is also mandated to provide necessary measures for quality control of raw materials and products in conformity with the standard specification. Some of the members of the Council, are the following ministries. Namely; Rural and Agricultural Development, Defence, Trade and Investment, Finance, Works and Housing, Health, and Science and Technology. "However, despite the centrality of the petroleum sector in the Nigerian economy, the Ministry of Petroleum Resources is/was omitted from the Standards Council of Nigeria membership, hence this amendment bill. Continues online

Lawan: Why Senate is Probing Zungeru Power Plant Concessioning Sunday Aborisade in Abuja The President of the Senate, Ahmad Lawan yesterday said the Red Chamber decided to organise an investigative hearing on the ongoing bid to concession the Zungeru Hydroelectric Power Plant(ZHPP) located in Niger State, to ensure due process in the exercise. The investigative hearing which held yesterday, was organised by

the Senate Committee on Power in line with the resolution adopted by the Senate at its Plenary Sitting of Wednesday 23rd November, 2022. Lawan explained that the thrust of the motion, sponsored by the chairman of the committee, Senator Gabriel Suswan was to request the Senate to invoke its oversight constitutional responsibility to avert the transfer of unresolved liabilities and future third -party claims to

EiE Nigeria Unveils Chatbot to Deepen Engagement On Elections, Governance Mary Nnah

product standard in Nigeria is the SON. ‘Specifically, SON is mandated to among other things, prepare standards relating to products, measurements, materials and processes among others, and their promotion at the national, regional and international levels. It is also mandated to provide capacity for local production of quality goods and certify industrial products, to mention a few. "The SON Act makes provision for the Standards Council of Nigeria. The Council among other functions, is mandated to advise the Federal Government on the national policy on standards, standards specifications, quality control and

your rights and understand how to engage in the electoral process, it’s time to occupy your office of the citizens because an active citizen should solve problems and hold government officials accountable.” On what could be done, Adamolekun urged citizens to identify a problem that upsets them enough to solve, then find others in the community to work with, because it is hard to do it alone. Speaking further she called on citizens to identify the duty bearers, which is the government official/ office responsible for this issue and search online or send EiE a message while engaging the duty bearer till the result is achieved. Apart from the launch of CHAT-

BOT, EiE used the opportunity to present a book titled FOOTPRINTS: Past. Present. Future, which represents inter-generational voices. The foreword of the Book is written by revered Dr. Christopher Kolade and the Book has 47 contributors some of them were Oby Ezekwesili, Aisha Yesufu, Adeola Williams, Tunde Bakare to Innocent Idibia also known as 2Baba and Seun Onigbinde. While responding to questions during the interactive session at the Book presentation, executive producer and host of #WithChude, Chude Jideonwo encouraged Nigerians to always turn out during voting because voting right isn’t enough.

Government. He said the probe would ensure that the proposed concession of the Zungeru Hydroelectric Power Plant (ZHPP) was conducted on a ‘value for money criteria’ bearing in mind huge external loans and annual budgetary releases expended on its construction. He, "I am glad to note that the Committee has extended invitation to all concerned stakeholders to come forward with their inputs, observations and contributions to the work of the Committee in carrying out its mandate. "The concerns of the Senate which culminated into this investigative hearing must be seen by all wellmeaning Nigerians from the context of Government’s recent experience with the privatisation of power assets in Nigeria which has continued to attract public outcry and criticism. "It is noteworthy that while a segment of the public has applauded the modest gains of the privatisation of government -owned power assets in Nigeria, mounting challenges that emerged after the exercise have made many questioned the credibility of the process that produced the successor companies and the viability of such companies hence the need for extreme caution in the concessioning of the remaining government -owned power assets including the ZHPP. "The precarious condition of the Nigerian power sector is indeed

puzzling considering relentless investments and special interventions made by successive administrations to change the fortunes of the sector for the better. "Available data indicates that between 2015 and 2022 alone, the Nigerian national grid collapsed 98 times. "This immediately brings to question whether the power to be generated from the ZHPP upon commencement of operation will be successfully and fully evacuated and if not, what will be the implication on the capacity of the concessionaire to meet its obligations under the concession agreement being contemplated. "Failure to address such issues in the past have put government in an unenviable position where billions of naira are currently being paid to service contractual obligations that should have been avoided by government if proper due diligence and consultation was done by relevant MDAs. "It is therefore expected that in the course of this investigative hearing, concerned stakeholders invited by the Committee will take advantage of this avenue to answer the above posers and many more as may be directed at them by the chairman and members of the Committee towards reaching informed recommendations that will form the final decision of the Senate at Plenary regarding the bid to concession the ZHPP.”

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MIDWEEKPOLITICS

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

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How Prepared Are Main Candidates for 2023 Presidential Poll? With less than three months to 2023 presidential poll, Emameh Gabriel examines the readiness of the four prominent presidential candidates for the election.

Kwankwaso

he Independent National Electoral Commission, INEC, has declared its readiness to conduct the 2023 presidential election. The Commission had before now disclosed that it has received substantial funds for the polls. The Commission has also revealed that it has taken proactive measures to reprint extra ballot papers for the presidential election should the case for a re-run arise in order to save the country from constitutional crisis. INEC National Commissioner and Chairman of the Information and Voter Education committee, Festus Okoye, made the disclosure recently during a round table talk with Bureau Chiefs and Editors of media houses. Interestingly, the Electoral Act, 2022 (as amended) has made the 2023 campaigns more cumbersome for political parties and their candidates. The introduction of BVAS and other electronic devices for the election has further restored confidence in the electorate who believe that their votes will count this time. 18 political parties and their presidential candidates have been cleared by INEC for the presidential election. The candidates will seek to convince the 96.3 million voters why they deserve to succeed President Muhammadu Buhari at Aso Rock from May 29, 2023 after the Saturday, February 25, 2023 presidential election. Candidates for the presidential election include Accord Party (AP), Imumolen Christopher; Action Alliance (AA), Al Mustapha Hamza; African Action Congress (AAC), Omoyele Sowore; African Democratic Congress (ADC), Kachikwu Dumebi; Action Democratic Party (ADP), Sani Yabagi; All Progressives Congress (APC), Bola Tinubu. Also on the ballot are All Progressives Grand Alliance (APGA), Umeadi Chukwudi; Allied Peoples Movement (APM), Ojei Princess Chichi; Action Peoples Party (APP), Nnadi Osita; Boot Party (BP), Adenuga Oluwafemi; Labour Party (LP), Peter Obi; New Nigeria Peoples Party (NNPP), Rabiu Kwankwaso; National Rescue Movement (NRM), Osakwe Johnson; Peoples Democratic Party (PDP), Atiku Abubakar; Peoples Redemption Party (PRP), Abiola Kolawole; Social Democratic Party (SDP), Adebayo Adewole; Young Peoples Party (YPP), Ado-Ibrahim Abdulmalik; and Zenith Labour Party (ZLP), Dan Nwanyanwu. The figure of registered voters for the 2023 general elections has a little above 10 million (96 million) difference as against the 82 million people registered for the 2019 election, in which only about 28 million turned up to vote. But this could be higher in 2023 because of heightened interest in some quarters and perceived disenchantment among some citizens across the country. But beyond this, how prepared are the candidates gunning for the plump job? Projections from both local and international monitoring groups, had it that there might be a stalemate at the end of ballot next year. The National Democratic Institute and National Republican Institute of the United States of America believe that the 2023 presidential election may go into a runoff. Like other projections, the thought that the February 2023 presidential election might not

Tinubu

be different from what was experienced in the Fourth Republic, is not ruled out. A delegation of the two Institutes, which visited Nigeria between 13 and 22 July, 2022 for pre-election assessment, said the election may be so tight that it may go into a runoff. They said emergence of Peter Obi and Rabiu Kwankwaso, as viable “Third Forces” has excited many young Nigerians. If a third party draws sufficient support, a runoff presidential election could be a real possibility for the first time since the transition to democracy. Although 18 political parties have been cleared by the INEC for the election, there are clear indications that the election will be a four horse race with former Lagos State governor and strongman of the All Progressives Congress (APC), Bola Tinubu holding the banner for his party, former vice president Atiku Abubakar, looks a strong contender for his party, the PDP and former Anambra State governor, Peter Obi as the presidential candidate of the Labour Party as well as Rabiu Kwankwaso pushing the mandate of his newly party, NNPP. The new entrants, Obi and Kwankwaso, who is also building a strong bloc in the North, have cumulatively triggered a new wave of political migration and re-alignment by politicians schemed out and disaffected with the two major political parties. While Kwankwaso’s NNPP has for sometime become the beautiful bride for aggrieved politicians particularly in the Northeast and Northwest, Obi’s Labour Party has witnessed a resurgence across the country as youthful politicians rally to what they now tagged, ‘Obi-dient’ call, seeking to upstage the two dominant political parties, the APC and PDP. How prepared are the presidential candidates? APC’s Tinubu The ruling party came out of its presidential primary unsettled with some of its members believed to be

Atiku

Obi

loyal to Vice President Yemi Osinbajo and Hon Rotimi Amaechi, who contested the party’s presidential primary against Bola Tinubu reportedly switching their loyalty to either Labour Party or the newly formed NNPP. While some of them have remained undecided, the party has shown some level of cohesion as it continues to woo back the ranks of its agrieved members. The formation of the party’s presidential campaign council was done in such a way to carry most of its aggrieved members along. For instance, major leaders of Osinbajo’s campaign organisations were drafted into the PCC to give them some sense of belonging. The move has to some extent helped to calm fray nerves, especially among undecided party faithful who have initially vowed not to work for Tinubu. The APC’s ongoing nationwide campaign and mobilisation have proven to be successful so far. With Tinubu’s family taking off some of the responsibilities from him and reaching out to Nigerians and various groups across some states in the country, analysts believe that such strategy has placed him ahead of others in the race. For instance, his wife, Senator Oluremi Tinubu, as well as wife of the vice presidential candidate have both teamed up with the women wing of the party led by the national women leader for a nationwide women mobilisation. Tinubu’s children have also been engaged in similar ventures to woo more voters for the party. Tinubu’s recent meeting with the leadership of the Christian Association of Nigeria (CAN) was another move by the party not only to heal wounds but also to disabuse the minds of Nigerians against his choice of Senator Kashim Shettima, a fellow Muslim as a running mate, a decision that left the APC in disarray and almost tore it apart. Tinubu’s choice of a fellow muslim as running mate against the warning of many Nigerians, especially from the southern extraction was greeted by angst, a decision that caused some prominent members of the party to dump the party for either PDP or Labour Party. Beyond his refusal to appear before several television interviews, debates and town-hall meetings organised by media organisations, a situation that is still raising public concerns about his fitness to run the country, the APC presidential candidate has had direct engagement with all sections of the society, including farmers, captain of industries, civil society organisations and entrepreneurs.

He has provided the electorate with a clear manifesto and action plans on how to take up governance upon his emergence at the 2023 polls. In his 80-page policy document released by the former Lagos State Governor, the document promises to tackle insecurity, food security, unemployment, stops oil subsidy and increase crude oil production. Minister of State Labour and Employment and spokesperson for the party presidential campaign, Festus Keyamo, told THISDAY in a recent interview that the party has the best and easy candidate to sell to Nigerians. The introduction of the Agro Commodity Directorate in the party’s presidential campaign committee has been described as one its biggest strategies to expand its winning frontiers. Minister of Agriculture and Rural Development, Dr Mohammad Mahmood Abubakar, at a recent interactive session with media representatives, described the move as one of the best decisions taken by Tinubu. Abubakar who has been a driving force in rural farmers mobilization, described the creation of an Agriculture and Commodity Directorate by the presidential candidate of the All Progressive Congress (APC) Bola Tinubu, the party’s presidential campaign committee as step to build on President Buhari’s achievements in the agricultural sector. He said the Tinubu-Shettima Presidential Campaign Council initiatives was first of its kind in the composition of a Campaign Committee among political parties, noting that the move was amber that has shared lights on Tinubu’s deep vision for the country’s agricultural sector. His words: “His ideas are top notch and I am confident of what he (Asiwaju Bola Ahmed Tinubu) is bringing on board. Farmers constitute a greater part of the country’s population, bringing them into the campaign council is a win-win for the party and farmers across the country:. However, the party’s continued delay in releasing campaign funds to its various campaign committees and support groups is raising concerns among various groups.

While Kwankwaso’s NNPP has for sometime become the beautiful bride for aggrieved politicians particularly in the Northeast and Northwest, Obi’s Labour Party has witnessed a resurgence across the country as youthful politicians rally to what they now tagged, ‘Obi-dient’ call, seeking to upstage the two dominant political parties, the APC and PDP

PDP’s Atiku The PDP will once again have former Vice President Atiku Abubakar on the ballot next year. This will be Atiku’s 4th attempt since after serving as vice president under former president Obasanjo from 1999 to 2007. Atiku has anchored his campaign on restructuring and has insisted that it is the only way to set the country on the path of progress. His strong commitment to restructure the country has endeared him to many Nigerians, especially the South East where the agitations for secession have echoed over the years. His emergence as the presidential candidate of the main opposition PDP came with a huge price that the party is still paying through its nose till today. Like some will say, Atiku’s candidacy has rather become the biggest misfortune for the PDP. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY DECEMBER 14, 2022 • T H I S D AY

24 T H I S D AY WEDNESDAY DECEMBER 14, 2022 TR

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Wednesday December 14, 2022 Vol 27. No 10109

opinion@thisdaylive.com

www.thisdaylive.com

THE RACE TO LINK 2.7B UNCONNECTED POPULATION The Partner2Connect initiative is expected to midwife an agenda to connect the unconnected population, writes SONNY ARAGBA-AKPORE See page 25

A WINNING HAND DARE AKINADE writes that the Lagos State government has done remarkably well

See page 25

EDITORIAL

SMES AND THE SCUML IMPEDIMENT

The delivery of democratic dividends has proved far more daunting than expected, writes IBRAHIM AGBOOLA GAMBARI

NIGERIA AND THE CHALLENGE OF DEMOCRATIC TRANSITION When in the course of the 1950s, the late British Prime Minister and Statesmen, Harold Macmillan, in a radical departure from the stance that had been taken by one of his best known predecessors, Winston Churchill, stated before his compatriots that a wind of change was already blowing across Africa which the United Kingdom and the rest of world would do well to notice and accommodate, he could not possibly have imagined the momentous changes which his words presaged. The Macmillan wind of change ushered Africa into independent nationhood and set in motion the train of processes and events which, over the years, saw the emergence into sovereign statehood of 54 countries on the African continent. Each RI WKHVH FRXQWULHV KDYH LQ WKHLU GLͿHUHQW ZD\V attempted to translate their independence into a power dynamic for the advancement of the welfare of their citizens. Our country Nigeria has not been an exception in this regard. The journey of national rebirth and forward progress which we have travelled since 1960 has been characterised by various stages. The ÀUVW VWDJH ZKLFK URXJKO\ RYHUODSSHG ZLWK WKH First Republic was primarily devoted to the attempt at nation and state-building within the overarching framework of a system of a vibrant multiparty politics that was animated by an admixture of visionary, charismatic, DQG FRORXUIXO SROLWLFDO ÀJXUHV ,W LV D WULEXWH WR WKH HͿRUWV RI WKHVH SLRQHHULQJ OHDGHUV WKDW our country very quickly took its destiny fully into its hands and transited to become a Republic in 1963 with one of its own, the incomparable Dr. Nnamdi Azikiwe or Zik of Africa as he was known - as President. Among his contemporaries were: The Prime Minister, Sir Abubakar Tafawa Balewa with &KLHI 2EDIHPL $ZRORZR DV /HDGHU RI R΀FLDO opposition in Federal Parliament, and Sir Ahmadu Bello, Premier of the Northern Nigeria. We will be forgiven to feel nostalgic when we look back at that era in our national history and recall the moments of immense inspiration which our founding leaders represented for us, one and all. Forging a nation out of land of the many diversities embedded in Nigeria at independence was never going to be an easy and straight forward task. One of the approaches which the pioneering generation tried out was the adoption of a federal DUUDQJHPHQW IRU DGPLQLVWHULQJ WKH FRXQWU\ ,W was an arrangement which came with many advantages which have been extensively and satisfactorily documented by many scholars to merit being retreated here. However, as noted by one of such scholars of Nigerian Political Science, there was also a certain inevitability of instability embedded into the tripodal model of governing the federal system. The embedded contradictions boiled

following the 1964 election and eventually led to the collapse of the First Republic in 1996. $V 1LJHULDQV ZH DOO NQRZ WKH GLͿHUHQW aspects of the crises that led up to and followed the fall of the First Republic, including the unfortunate Civil War that we fought. The next phase of our quest for a national rebirth, running from 1966 to 1999 was essentially dominated by a succession RI PLOLWDU\ JRYHUQPHQWV ,QGHHG GXULQJ those 33 years, the country was governed by military rulers for a full 28 years of that period. The Second Republic, when it was inaugurated in 1979 barely last four years and three months. As for the Third Republic, the gradualist, engineered approach to unveiling it got stopped in its tracks with the annulment of the Presidential Elections of June 12, 7KH ,QWHULP *RYHUQPHQW WR ZKLFK WKH DGPLQLVWUDWLRQ RI )HGHUDO DͿDLUV ZDV entrusted barely lasted three months before full blown military rule was re-imposed. Nigerians have many competing interpretations of what to make of the period between 1966 and 1999, and that is to be expected - and even celebrated as a mark of one of our many strengths as a people who question, debate, and contest. Amidst the GLͿHUHQW LQWHUSUHWDWLYH DUJXPHQWV WKDW KDYH ÁRXULVKHG DERXW WKH SHULRG WKHUH DUH FHUWDLQ core facts and messages that stand out about which most can agree. First, is the fact that the tragic civil war that pitched us against one another was our own war of unity that focused our minds in how to be build a better and greater union for ourselves whilst still respecting our many diversities. Secondly, on account of the renewed resolve to build a more virile country, the period witnessed some of the boldest re-engineering of our national political structure as evidenced, among others, by the creation of new states and local governments. Accompanying the re-engineering of the national political structure was a massive investment in the national infrastructure which, looking back, must go down as one of the best moments of a bold surge forward in the developmental trajectory of the country. Undergirding the development process of the period was a strong commitment to national development planning. There was a strong sense of statehood that pervaded

the air of the period and refracted itself into a new phase in the quest to forge a vibrant national identify. Various policy measures and institutional innovations were tried out. Some here may remember the Jaji Declaration of 1978 that outlined a clear vision for national advancement. As a people, we were not short of ambition, audacity and hope. We understood our manifest destiny as the leader of the African continent, not least because of our population and other natural endowments that provided indices of power that we could tap into. Not surprisingly, internationally, the period from 1966 to 1999 also saw some of the boldest expressions of Nigerian presence DQG LQÁXHQFH RQ WKH ZRUOG VWDJH ,W ZDV P\ VLQJXODU KRQRXU DV IRUPHU 'LUHFWRU *HQHUDO RI WKH 1LJHULDQ ,QVWLWXWH RI ,QWHUQDWLRQDO $ͿDLUV 0LQLVWHU RI )RUHLJQ $ͿDLUV 3HUPDQHQW Representative of Nigeria to the United 1DWLRQV DQG 8QGHU 6HFUHWDU\ *HQHUDO RI WKH 8QLWHG 1DWLRQV , KDYH PDQ\ VWRULHV WR WHOO of the equally numerous moments of pride that we earned as a leading voice in African FRQWLQHQWDO DQG JOREDO DͿDLUV )URP RXU UROH in the making of the Economic Community RI :HVW $IULFDQ 6WDWHV WKH HͿRUW IRU WKH liberation of rest of Africa from settler colonial UXOH DQG DSDUWKHLG WKH VDFULÀFHV PDGH WR HQG the wars in Liberia and Sierra Leone through (&202* WKH RXWUHDFK WR *OREDO $IULFD support to the Organisation of African Unity (OAU), active involvement in the activities of the Non-Aligned Movement (NAM) - the list goes on. Pointing out a few of those aspects of the governance experiences of the period from 1966 to 1999 that resonate with most Nigerians DV UHSUHVHQWDWLYH RI VLJQLÀFDQW PLOHVWRQHV in our journey of nationhood and statehood is not to suggest that there were no serious challenges. Of major worry to the generality of Nigerians were the authoritarianism impulses associated with prolonged military rule, including the prolonged suspension of constitutional order. Whatever may have been the positive attributes that could have been associated with the succession of military administrations that governed the country, Nigerian political and civil societies could never accept militarised governance as anything more than a temporary aberration WKDW ZRXOG KDYH WR EH UHFWLÀHG DW WKH HDUOLHVW opportunity. After the collapse of the Second Republic and with the Third Republic still born, the next opportunity for the task of UHFWLÀFDWLRQ FDPH LQ ZKHQ WKH )RXUWK Republic was born. Text of the 2022 Convocation Lecture 'HOLYHUHG E\ WKH &KLHI RI 6WDͿ WR WKH 3UHVLGHQW Prof Gambari DW WKH $O +LNPDK 8QLYHUVLW\ ,ORULQ .ZDUD 6WDWH

T H I S D AY

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WEDNESDAY DECEMBER 14, 2022

The Partner2Connect initiative is expected to midwife an agenda to connect the unconnected population, writes SONNY ARAGBA-AKPORE

THE RACE TO LINK 2.7B UNCONNECTED POPULATION With nearly $30billion commitments and pledges from 280 entities representing 118- member countries of the International Telecommunications Union (ITU), the race to connect the unconnected 2.7billion population has begun. A worried United Nations Secretary General, Antonio Guterres had lamented early in year 2022 that despite WKH ULVLQJ SURÀOH RI WHFKQRORJ\ DQG telecommunications, a third of the global population remains without the internet. The ITU had a year earlier put in place a coalition Partner2Connect initiative that is expected to midwife an agenda to connect the unconnected population by year 2030. This agenda was part of the campaign of the incoming ITU Secretary General Doreen Bogdan-Martin at the last ITU elections. With a third of global population still in the dark, the ITU thinks that one major programme to connect them is to go into partnership with countries and corporate entities hence the Partner2Connect initiative. Access to the Internet is a critical element RI JOREDO GHYHORSPHQW HͿRUWV LQFOXGLQJ the UN’s Sustainable Development Goals. “The digital divide is no longer just a technology divide – it is an opportunity divide,” said Doreen Bogdan-Martin, Director of ITU’s Telecommunication Development Bureau and ITU SecretaryGeneral-elect. “We live in a world ÀOOHG ZLWK FULVLV DQG QHHG )RU LWV SDUW Partner2Connect’s success in mobilizing commitments will be central to global HͿRUWV WR JHW HYHU\ SHUVRQ RQOLQH 7KHVH HͿRUWV ZLOO IRUP D PDMRU SODQN RI the incoming ITU regime from January 1, 2023 when the new executives begin their tenure. The pledges and funds being mobilized are especially meant to support developing countries where connectivity is lagging and the digital gender gap is widest. The funding, services, technical support, and other assistance detailed in the pledges will improve access to — and preparedness for — digital technologies. The Partner2Connect initiative focuses its work on four areas: connecting people everywhere (access), empowering communities (adoption), building digital ecosystems (value creation), and incentivizing investments (accelerate). “It is heartening to see the international community from so many sectors focus on bringing digital connectivity to all,” said ITU Secretary-General Houlin Zhao. “ITU is uniquely positioned to support WKLV HͿRUW DQG ZH ZLOO FRQWLQXH WR PRELOL]H our distinctive and diverse public-private membership base around concrete commitments to connect the world.” In addition to making new commitments, participants at the Partner2Connect meeting provided self-reported progress updates on the status and impact of their pledges. Under the self-reporting timetable, reports were received by mid-November on over one-third of the total commitments, an impressive response rate only one month after the launch of an online form. About 75 per cent of those pledges were noted to be in progress and on track to achieve their goals, with 10 per cent self-

reported as being complete. Most pledgers stated that they expected their pledges to meet their target deadlines for implementation. “Global connectivity and sustainable digital transformation cannot be achieved without accountability,” said Bogdan-Martin in the coalition’s report. “Through Partner2Connect, ITU can play a central role in monitoring, tracking and reporting on commitments towards connectivity. We will continue to promote the spirit of transparency and true partnership that this coalition stands for.” ITU Facts and Figures 2022, states that the global median price of mobile-broadband services dropped from1.9 per cent to 1.5 per cent of average gross national income (GNI) per capita. Mobile broadband allows users to access the Internet from a smartphone. 7KH DͿRUGDELOLW\ RI WKLV VHUYLFH KDV EHFRPH a benchmark for global Internet use, since it provides relatively inexpensive access FRPSDUHG WR À[HG ,QWHUQHW VHUYLFH Still, for the average consumer in most ORZ LQFRPH HFRQRPLHV WKH FRVW RI À[HG or mobile broadband services remains too high. The report says that “a basic mobile data plan in these countries was found to cost on average nine per cent of average income. This represents a slight decrease from 2021, but it remains many times greater than the cost of similar services in higher-income countries. The result is that those who can OHDVW DͿRUG EURDGEDQG VHUYLFH ² DQG WKDW FRXOG EHQHÀW WKH PRVW IURP LW ² DUH SD\LQJ the highest amounts in relative terms.” (DUOLHU WKLV \HDU ,78 DQG WKH 2΀FH of the UN Secretary-General’s Envoy on Technology announced ambitious targets for universal and meaningful digital connectivity to be achieved by 2030. $ͿRUGDELOLW\ GHÀQHG DV WKH DYDLODELOLW\ of broadband access at a price that is less than two per cent of monthly GNI per FDSLWD ZDV LGHQWLÀHG DV D SULRULW\ WR HQVXUH WKDW HYHU\RQH FDQ EHQHÀW IXOO\ IURP connectivity. Although women account for close to half the world’s population, 259 million fewer women have access to the Internet than men. Only 63 per cent of women are using the Internet in 2022 compared to 69 per cent of men, according to Facts and Figures 2022, adding that the gender gap is even more concerning in lower-income nations in which 21 per cent of women are online compared to 32 per cent of men, a ÀJXUH WKDW KDV QRW LPSURYHG VLQFH Overall, the world has moved closer toward gender parity over the last three \HDUV *HQGHU SDULW\ LV GHÀQHG DV ZKHQ the female percentage of Internet users divided by the male percentage stands between 0.98 and 1.02. The gender parity score improved from 0.90 in 2019 to 0.92 in 2022. “Generally, regions with the highest Internet use also have the highest gender parity scores. Conversely, many of the world’s least developed and vulnerable economies feature low Internet use, a low gender parity score, and limited progress toward gender parity over the last three years.” Aragba-Akpore is a member of THISDAY Editorial Board

DARE AKINADE writes that the Lagos State government has done remarkably well

A WINNING HAND

7KH R΀FLDO ÁDJ RͿ RI WKH *RYHUQRUVKLS campaign of Mr Babajide Olusola Sanwo-Olu, the candidate of the ruling All Progressives Congress, APC was well anticipated. He has strategically timed the outing for maximum political mileage. The big masquerade came out in Lagos early December, weeks after the political neophyte of the opposition had been rabble rousing. He hit the town with the, “A Greater Lagos: Rising”, a campaign theme that perfectly captures the massive development strides under the watch of the governor in the last three and half years. The governor has continued to extend the frontiers of good governance and infrastructure expansion.

All Progressives Congress (APC) members in Lagos, supporters of the party and Lagosians trooped out to Onikan Stadium, WKH YHQXH RI WKH JRYHUQRUVKLS ÁDJ RͿ WR show love and solidarity to the leader who proved his mettle during the Coronavirus pandemic, the greatest public health crisis of the century. It was a moment of funfair and stewardship rendering. Sanwo-Olu stood with his shoulders high and declared before Lagosians that he had served their interest well as the trustee of their sacred mandate. He requested to be rewarded with another term for doing a yeoman’s job. He came into the assignment armed with a clear and ambitious, THEME agenda. “The acronym, T.H.E.M.E.S, represents the six pillars of the State’s strategic development DJHQGD QDPHO\ 7UD΀F 0DQDJHPHQW DQG Transportation, Health and Environment, Education and Technology, Making Lagos a 21st Century Economy, Entertainment and Tourism, as well as Security and Governance”. Despite the global economic challenges occasioned by the COVID-19 pandemic, Governor Sanwo-Olu delivered on promises. This sentiment was echoed by the Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, FCA. Abiru, an accomplished retired bank chief executive said: “Today, again, in the same spirit of allegiance, dedication and faithfulness to the progressive values that bind us together as a political party, we gather KHUH WR ÁDJ RͿ WKH UH HOHFWLRQ FDPSDLJQ of Governor Babajide Sanwo-Olu and his Deputy, Dr. Obafemi Hamzat. For three and half years, they have been providing strategic leadership for over 20 million residents that chose Lagos as their homes. “Though, the period was marked with the global health crisis when COVID-19 broke out towards the end of 2019. Our Incident Commander and his team stayed strong in the midst of adversity. They provided much-

needed intervention and leadership that eventually eased our beloved state out of the doldrum. On this note, I congratulate Mr. Governor, the Incident Commander of Lagos State again, for strongly leading our dear state out of this crisis. “Leaders of our Party, Ladies and Gentlemen, Lagos is now better and stronger despite COVID-19 and its DWWHQGDQW HͿHFWV RQ WKH ÀVFDO SHUIRUPDQFH of our country, especially the sub-national governments. But under the Incident Commander, public servants were not RZHG D GLPH WKH YXOQHUDEOH ZHUH RͿHUHG social support and iconic infrastructure projects were initiated still at the time of the crisis. “These are evident in the progressive implementation of Lagos Light Rail (Blue Line); audacious commencement of Red Line; completion of several housing projects across the state; building of a new general hospital in Ojo and a 500-bed mental health hospital in Ketu-Ejinrin and the on-going construction of Opebi-Ojota bridge, among others. With these giant strides, Greater Lagos is truly rising under the administration of Mr. Governor. “With all these records of performance, Mr. Governor and his Deputy deserve our support. Indeed, they deserve the support of all Lagosians given how they have been able to stabilize the ship of our state ZKHQ WKH RFHDQ RI JOREDO DͿDLUV ZDV PRVW turbulent. They represent a team of public servants, whose experiences in public and private sectors have markedly set their administration apart’. The achievements of Governor Sanwoolu as reeled out by Senator Abiru were QRW ÁXNH 7KH\ DUH YHULÀDEOH SURMHFWV DQG programmes that are currently making life better for millions of Lagosians. A clear testament to the greater Lagos rising, are the projects that dot the entire landscape of the state. Imota Rice mill, reputed to have capacity to produce 2.8 million bags of 50kg bags of rice yearly, while generating 1,500 direct jobs and 254,000 indirect jobs is almost ready. Across the state, road infrastructure, schools and hospital constructions are booming. Lagos Youth are increasingly getting upskilled in digital skills, while budding entrepreneurs are getting VXSSRUWHG ZLWK DͿRUGDEOH FDSLWDO XQGHU Lagos State Employment Trust Fund. Access to working capital has been eased and encumbrances associated with loans have been removed under the single interest rate per annum loan scheme of the government. The historic courthouse, Igbosere High Court, that fell under rage of misguided elements during the #EndSARS imbroglio is set to rise again. The court that was razed down in October 2020 has been awarded for redevelopment and reconstruction. The governor has performed the groundbreaking signalling commencement of work. This was made possible by the innovative approach of Mr Governor who established, The Rebuild Lagos Trust Fund (RLTF) in November, 2020, following Executive Order EO/ BOS/2020, for rebuilding and restoring DͿHFWHG VWDWH DVVHWV LQ /DJRV Akinade writes from Lagos State

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EDITORIAL

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

SMES AND THE SCUML IMPEDIMENT We cannot aﬀord to create needless bureaucratic hurdles in the path of small businesses

mall and medium-sized enterprises (SMEs) play a major role in most economies, particularly in developing countries such as Nigeria. They account for most businesses worldwide and are important contributors to job creation, poverty alleviation and economic growth. With the Small and Medium Enterprises Development of Nigeria (SMEDAN) reporting that SMEs in Nigeria represent 96 per cent of the businesses in the country and contribute 75 per cent of national employment, this is not a sector that can be ignored without dire consequences. However, the Lagos Chamber of Commerce and Industry (LCCI) recently cited a study which revealed that only 21 per cent of SMEs in Nigeria survive within three years. The United Nations Industrial Development Organisation (UNIDO) Investment and Technology Promotion 2΀FH LQ 1LJHULD SXW WKH ÀJXUH DW SHU FHQW $FFRUGLQJ WR 81,'2 ´DOWKRXJK everybody in Nigeria desires to become an entrepreneur, RQO\ SHU FHQW RI WKH GUHDPHUV JHW WR VWDUW EXW QR PRUH WKDQ SHU FHQW VXUYLYH µ 81,'2 FDOOHG IRU WKH IRUPXODWLRQ RI HͿHFWLYH VWUDWHJLHV WR DGGUHVV WKH increasing inability of SMEs to grow in the country. The Central Bank of Nigeria (CBN) had in the past established numerous programmes to support SMEs EXW ZLWK YHU\ OLWWOH WR VKRZ IRU VXFK HͿRUWV )RU LQVWDQFH LQ $XJXVW WKH &%1 ODXQFKHG WKH 0LFUR 6PDOO DQG 0HGLXP (QWHUSULVHV 'HYHORSPHQW )XQG 060(') ZLWK D VKDUH FDSLWDO RI 1 ELOOLRQ 7KH )XQG DLPV WR HQKDQFH WKH DFFHVV WR ÀQDQFLDO VHUYLFHV E\ FKDQQHOOLQJ single-digit loans at nine per cent interest rate to them, WKURXJK WKH 3ULPDU\ )LQDQFH ,QVWLWXWLRQV 3),V :KHQ the intended end users could not access the facility, the National Collateral Registry (NCR) was introduced. Yet, the problem persists. Many factors account for the uninspiring state of small businesses in Nigeria. The recent report by a national newspaper that many of them have been struggling to

open business accounts over the Special Control Unit $JDLQVW 0RQH\ /DXQGHULQJ 6&80/ FHUWLÀFDWH JLYHV cause for worry. SCUML was established by the federal JRYHUQPHQW LQ 6HSWHPEHU LQ FRPSOLDQFH ZLWK WKH 0RQH\ /DXQGHULQJ 3URKLELWLRQ $FW ZKLFK was repealed and amended to Money Laundering 3URKLELWLRQ $FW DV DPHQGHG DQG PRVW UHFHQWO\ to the Money Laundering Prevention and Prohibition $FW ,W ZDV SDUW RI WKH PHDVXUHV WR LPSOHPHQW WKH )LQDQFLDO $FWLRQ 7DVN )RUFH )$7) 5HFRPPHQGDWLRQV RQ $QWL 0RQH\ /DXQGHULQJ &RPEDWLQJ WKH )LQDQFLQJ RI 7HUURULVP $0/ &)7 LQ 1LJHULD ,W LV DOUHDG\ DQ HVWDEOLVKHG QRUP WKDW WKH ÀUVW VWHS to open such an account is to register business name with the Corporate $ͿDLUV &RPPLVVLRQ (CAC), followed by a Tax ,GHQWLÀFDWLRQ 1XPEHU (TIN) obtained from the )HGHUDO ,QODQG 5HYHQXH 6HUYLFH ),56 5HJUHWWDEO\ despite that SCUML listed some of the businesses that UHTXLUH WKH FHUWLÀFDWH EDQNV DUH FUHDWLQJ FRQIXVLRQ DPRQJ 60(V RZQHUV E\ LQVLVWLQJ RQ WKH FHUWLÀFDWH IRU virtually all business account names. This is not only D GLVVHUYLFH WR HͿRUWV WR JURZ WKH HFRQRP\ EXW DOVR antithetical to the CBN policy target of achieving 95 SHU FHQW ÀQDQFLDO LQFOXVLRQ E\ :KLOH WKH IHGHUDO government continues to indulge in chest-thumping that it has improved the ease of doing business environment, this is one of the toxic drawbacks that must be quickly resolved. The economy is in dire need of stimulation, and no HͿRUW VKRXOG EH VSDUHG WR HQFRXUDJH 60(V ZKLFK DUH veritable vehicles for growth. Already, there is a litany of factors inhibiting SMEs in the country. They range from PXOWLSOH WD[DWLRQ HQHUJ\ FULVLV DQG DFFHVV WR ÀQDQFH among others. At a period when we need to make FRQVFLRXV HͿRUWV WR DGGUHVV WKHVH SUREOHPV ZH FDQQRW be creating needless bureaucratic hurdles that place impediment on the establishment of small businesses in Nigeria. The authorities should look at the issue of SCULM.

The economy is in dire need of stimulation, and no eﬀort should be spared to encourage SMEs which are veritable vehicles for growth T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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

LETTERS CHRISTMAS BREAK IS HERE AGAIN! Christmas is an annual sacred Christian holiday that commemorates the birth of Jesus Christ, the spiritual leader and founder of Christianity. While many people celebrate Christmas to honour Jesus’ birth, it’s also celebrated as a cultural holiday across the globe. Christmas is a very important time of year. It’s a time of year when the whole world is hearing the message of the birth of Jesus. It’s a time when people are of tenderhearted… the perfect time to plant seeds of love in the lives of those you meet. Sometimes these seeds may just take the form of a kind word in the middle of one-hour shopping. Other times, you may get the opportunity to pray and minister to someone. But whatever the situation, keep a sharp eye out for even the smallest chance to assist people. Christmas break is that time of the year when we all both Christians and non-Christians hold our end of year party, gala QLJKWV DQG &KULVWPDV SDUW\ )RU WKH FROOHJH DQG XQGHUJUDGXDWH students, they start the Christmas break from the third week of 'HFHPEHU WR WKH ÀUVW ZHHN RI -DQXDU\ 2·OHYHO VWXGHQWV HTXDOO\ GR OLNHZLVH $PRQJ VHFRQGDU\ VFKRRO VWXGHQWV LW LV WKH ÀUVW KROLGD\ LQ WKH DFDGHPLF FDOHQGDU DIWHU WKH ÀUVW WHUP H[DPLQDWLRQ 6WXGHQWV ZKR GR ZHOO LQ WKHLU ÀUVW WHUP H[DPLQDWLRQ H[SHFW D

splash from their parents and guardians during the Christmas break. Pupils in nursery and elementary schools expect their care-givers to do wonderful new things for them during the Christmas celebration. Some secondary schools withhold their 66 VWXGHQWV ZKR ZLOO ZULWH WKHLU 66&( LQ WKH FRPLQJ QHZ \HDU till the day before Xmas to ensure that they read and revise their books. Unfortunately, no student whether in the college, graduate or elementary schools ever open their books during the festival of Christmas. Why? There could be very few who would do that but majority of the students are taken in the euphoria of fun fare, celebration, and activities that grace the Christmas period. Teachers seldom give take home assignment to their students during the Christmas break. It is noteworthy that the Christmas break is the greatest and most widely celebrated holiday in the academic calendar. Matter of fact, it marks the end of the year and ushers in a new year, the continuation of the academic calendar. There is no fear of not being promoted after the Xmas break as the students are still fresh in their new classes. The reason for the season or the message of Christmas is not what is in the mind of so many students. They usually preoccupy their minds with what to eat and drink, meeting new friends, trav-

elling and visiting new places, attending invitations, events, and entertainments. However, everybody prays and plans for Christmas break both students and everyone alike. Mostly, during the ‘ember’ months, ritual killings increase, accidents on the highways increase, robbery and theft increase, cheating and unfaithfulness in relationships increase, quest and desire for new things increase, etc. Part of the planning is seen when people start making fresh demands from their parents, guardians, spouses, friends and lovers. Everybody wants to look new and appear gorgeous during the Xmas period. Young secondary school female students are seen with wigs, weaveon, attachments and new hair-dos. Prices of goods and services equally skyrocket during Xmas. Transportation fare, PMS and Diesel prices are increased. A lot of things take place during the Christmas break and that is why people prepare and plan for it. More reason why people do pray for the celebration is that some unfortunate ones spend their Xmas in hospitals and Orthopaedic homes due to one reason or the other. Obiotika Wilfred Toochukwu, Anambra State

T H I S D AY ˾ WEDNESDAY, DECEMBER 14, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

D E C E M B E R

S & P INDEX

6 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Banks’ Operating Expenses Up 19.2% on High Inflation, Regulatory Charges

Kayode Tokede Following a high inflation rate and regulatory charges, a total of 14 Nigerian banks reported N2.03 trillion total operating expenses in nine months of 2022, representing an increase of 19.2 per cent from N1.7 trillion reported in the corresponding nine months of 2021, analysis of the banks’ results has revealed. The banks are: Ecobank Transnational Inculpated (ETI), FBN Holdings Plc, Guaranty Trust Holdings Plc (GTCO), Access Holdings Plc, United Bank for Africa Plc (UBA)

and Zenith Bank Plc. Others include: Union Bank of Nigeria Plc, FCMB Group Plc, Fidelity Bank Plc, Wema Bank Plc, Unity Bank Plc, Stanbic IBTC Holdings Plc, Sterling Bank Plc and Jaiz bank Plc. Nigeria’s inflation rate according to the National Bureau of Statistics (NBS), moved to 20.77 per cent in September 2022 from 15.6 per cent reported in January. Apart from the inflation rate, the 0.5 per cent Asset Management Corporation of Nigeria (AMCON) charges On banks’ total assets on

and off-balance sheet items and Nigeria Deposit Insurance Corporation (NDIC) levy mounted pressure on banks expenses in the period under review. Also, the dwindling fortune of the naira, among others as factor, contributed to the rise in banks operating expenses within the review period. Further analysis of the reports shows that in nine months of 2022, the profit before tax of the 14 banks stood at N1.08trillion, indicating an increase of 22 per cent from N889.6billion reported in nine

months of 2021. THISDAY can report that the extension of inflation rate across Africa countries impacted on pan-African banks operating in the continent. The World in a report stated that global headwinds are slowing Africa’s economic growth as countries continue to contend with rising inflation, hindering progress on poverty reduction. According to the world bank report, the risk of stagflation comes at a time when high interest rates and debt are forcing African govern-

ments to make difficult choices as they try to protect people’s jobs, purchasing power and development gains. “The war in Ukraine is exacerbating already high inflation and weighing on economic activity by depressing both business investments and household consumption. As of July 2022, 29 of 33 countries in SSA with available information had inflation rates over five per cent while 17 countries had double-digit inflation,” the report explained. Take for instance, Access Holdings, a pan-African bank

reported N376.9billion total operating expenses in nine months of 2022, an increase of 30 per cent from N290.9billion reported in nine months of 2021. The group, thus grew its profit before tax to N147.3billion in nine months of 2022, an increase of nine months from N135.2billion reported in nine months of 2021. For UBA, another pan-African bank, its operating expenses grew by 27.5 per cent to N262.63billion in nine months of 2022 from Continued on page 28

World Bank Approves $18m for Nigeria, Others to Support Effective Disease Surveillance in W/Africa NumeEkeghe The World Bank Group has approved a total of $18 million in two additional financings from the International Development Association (IDA) to support effective disease surveillance in West Africa. The body said these

financings would support the implementation of the ongoing Regional Disease Surveillance Systems Enhancement Program (REDISSE) respectively in Benin ($6 million), Senegal ($7 million), and by the West Africa Health Organization, WAHO ($5 million). The Brentwood institu-

tion in a statement on its official website noted that REDISSE is a regional multisectoralprogramme currently involving 16 countries in West and Central Africa – Angola, Benin, Chad, Central Africa Republic, Congo Republic, Democratic Republic of Congo, Guinea, Guinea Bissau, Libe-

ria, Mali, Mauritania, Niger, Nigeria, Sierra Leone, Senegal, and Togo. It stated that its aim was to strengthen national and regional capacities to address disease threats at the human, animal, and environmental interface, which is the source of most known epidemic-

prone and novel pathogens. The REDISSE program was established prior to the COVID-19 pandemic and has proved to be instrumental to the initial emergency COVID-19 response activities, repurposing its funding to allow participating countries to undertake surveillance and

contact tracing activities; conduct laboratory testing and diagnosis; procure essential drugs, equipment, material, and commodities; and organise training for healthcare staff. World Bank Regional Continued on page 28

M A R K E T D ATA A S AT T U E S D AY, D E C E M B E R 6 , 2 0 2 2 BILLS

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

Yield

99.77

15.16

99.77

14.20

94.98

14.27

105.26

14.59

98.51

14.38

Change Updated Time (%) 0.00 December 2, 2022 -0.07 December 2, 2022 -0.28 December 2, 2022 0.00 December 2, 2022 -0.32 December 2, 2022

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

Discount

Yield

11.58

11.83

8.32

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OTC F X F U T U R E S

CPS

Change Updated Time (%) -0.01 December 2, 2022 0.00 December 2, 2022 0.00 December 2, 2022 -0.01 December 2, 2022 0.00 December 2, 2022

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

Change Updated Time (%) 1.46 December 16.46 15.63 2, 2022 19.74 19.74 1.08 December 2, 2022

Discount Yield

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

Current Rate Updated Time ($/₦) December 454.73 2, 2022 December 456.93 2, 2022 December 459.12 2, 2022 December 461.32 2, 2022 December 463.51 2, 2022

T H I S D AY ˾ WEDNESDAY, DECEMBER 14, 2022

BUSINESSWORLD

NEWS

Fearing Job Loss, Youths Protest Planned Closure of Chevron Logistics Base at Onne

The President of Onne Youth Council, Tobiah Silas Tete, addressing journalists during the peaceful protest at Chevron Logistics Base in Onne, Rivers State, yesterday The protesting youths at Chevron Loyalists Base in Onne, Rivers State OluchiChibuzor Youths under the aegis of the Onne Youth Council on yesterday staged a peaceful protest at the Chevron shore/logistics base located in the Onne Oil and Gas Free Zone, Onne, Rivers State over planned closure of the base. The youths, in their large numbers, carried placards with various inscriptions appealing to Chevron to rescind its decision to relocate its logistics base from Onne, as the move could have dire economic consequences on the community. The President of Onne Youth Council, Tobiah Silas Tete, who led the peaceful, said their visit to the shore base was to submit

a letter of appeal to the Chevron management to reconsider the decision to relocate its logistics support base from Onne in order not to throw the community and Rivers State into economic hardship. “It has come to our notice as members of the host communities, the leaders and community representatives of the Onne-Ikpokiri clan that Chevron Nigeria Limited, an oil producing company operating its Shore/Logistics Base at the Oil & Gas Free Zone has commenced moves to relocate the Base from its current location in Onne, Rivers State. “This news came to us as a shock considering the strategic

role the Chevron Logistics/Shore Base plays in our daily lives, especially as the company has enjoyed very warm and cordial relationship with our peaceful and welcoming communities for more than thirty years. “Consequently, we the host communities are jointly appealing to Chevron to stop the planned closure of its Logistics/Shore Base at Onne. This call became imperative considering the dire economic and security consequences of the planned relocation of the Shore Base out of Onne. “The Logistics/Shore Base in question is a major employer of labour in our community, providing thousands of direct

and indirect jobs to our men and women. “We therefore appeal to you to kindly halt the ongoing relocation to avert unnecessary economic hardship on persons and families in the communities that have hosted your Logistics Base and supported your operations peacefully and harmoniously for many years. “Many of our youths and women depend on the operations of the Chevron Logistics/Shore Base in Onne for survival and to support their families. Why then do they want to inflict this untold hardship on them and their households at this time when jobs are scarce and even unavailable?

“The importance of the presence of Chevron in our communities over the past three decades cannot be overemphasised. Moving the company’s logistics operation out of the Onne Oil and Gas Free Zone at this time will be devastating to our youths and communities as a whole,” Tete said while addressing journalists at the venue of the peaceful protest. The Onne Youth Council President urged Chevron to enter into dialogue with the affected communities “to discuss this important issue and see how we can continue to work together”. “We will also appeal to our Governor, His Excellency Barrister NyesomWike and His Excellency President MuhammaduBuhari

GCFR, the Chairman of Eleme Local Government, security operatives and all well-meaning Nigerians to intervene in this matter by prevailing on Chevron to suspend the planned closure of its Logistics/ Shore Base in Onne in order not to disrupt the peace in the Niger Delta region. “We urge Chevron to kindly abide by its commitment of actively supporting the economic development of the communities that host its operation in one form or the other,” Tete added. The protesting youths were received at the Chevron logistics/ shore base by the Facility Security Officer, Mr. Asu, who promised to convey their letter and request to the Chevron management.

Stanbic IBTC Asset Management Launches N19.997bn Infrastructure Fund NumeEkeghe Stanbic IBTC Asset Management has announced the N19.997 billion Series III offer under its Stanbic IBTC Infrastructure Fund N100 billion Programme. The offer opened on Friday, November 25, 2022, and is scheduled to close on Wednesday, 21 December 2022. The Fund aims to bridge the funding gap in Nigeria’s infrastructure sector through

investing in a careful selection of eligible infrastructure investments across core infrastructure sectors in Nigeria. The Fund, structured as a close-ended collective investment scheme, seeks to provide a target return of two per cent to five per cent above the prevailing yield on Federal Government of Nigeria Bond with a similar tenor to the remaining tenor of each series. The Series III Issuance is for a tenor of 10 years and offers 188,650,000 units of N100 each

issued at NGN106.00 per unit under the Stanbic IBTC NGN100 billion Infrastructure Fund Programme. Commenting on this development, Chief Investment Officer, of Stanbic IBTC Infrastructure Fund, DoluOlugbenjo, noted that the Fund has made significant strides to meet its commitment to investors and its dedication to developing Nigeria’s capital market. The Fund has successfully made cash distributions to

eligible unit holders in three incremental installments within the first nine months of operation and had successfully raised capital over the last two issuances with proceeds disbursed to impact investing. The Fund also continues to support projects that provide real developmental impact and has invested in infrastructure deals in healthcare and energy sectors that have created direct and indirect employment opportunities for the projects’

host communities. According to Dolu, “The Series III Issuance provides an opportunity for the Fund to consolidate on progress made thus far, by using the capital raised to provide debt financing to support a strong portfolio of infrastructure and infrastructure-related projects within Nigeria. The target project sectors for the Stanbic IBTC Infrastructure Fund covers a broad array of sectors including energy, healthcare, information

and communication technology, telecommunications, real estate, and transportation and logistics sectors. “We encourage qualified institutional investors and high net-worth individual investors to continue participating in the Stanbic IBTC Infrastructure Fund issuances as partnering with us helps bridge the existing infrastructure asset gap that would deliver positive social and economic multiplier effects,” Dolu added.

WORLD BANK APPROVES $18M FOR NIGERIA, OTHERS TO SUPPORT EFFECTIVE DISEASE SURVEILLANCE IN W/AFRICA

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

Integration Director for SubSaharan Africa, the Middle East and Northern Africa, Ms. BoutheinaGuermazi said, “The existence of the REDISSE

program in the countries prior to COVID-19 allowed the use of an already established platform, nascent systems, and financing to quickly kick-start COVID-19

emergency response, thanks to the flexibilities allowed by the programme’s design. These additional financings will help Benin, Senegal, and WAHO

to complete the remaining originally planned activities to enhance surveillance and information systems, strengthen the laboratory systems, and

build capacities to foster inter-country collaboration and coordination of disease surveillance and epidemic preparedness in West Africa.”

BANKS’ OPERATING EXPENSES UP 19.2% ON HIGH INFLATION, REGULATORY CHARGES N206,01billion in nine months of 2021. UBA’s Group Managing Director/ Chief Executive Officer, Mr. Oliver Alawuba, had stated that, “The global economy continues to grapple with the effect of macroeconomic headwinds: rising rates, inflation, and heightened risk of recession. “Furthermore, the continuing geopolitical conflict has also contributed to what has been till date, a challenging year, weighing heavily on the performance of asset classes in the third quarter. Emerging markets faced similar challenges with several sovereign and corporate debt asset classes ending in negative valuation territory, as most local currencies suffer

remarkable devaluation.We remain very cautious in risk asset creation as we defensively position our asset portfolios to minimize the impact of the heightened credit risk.” However, ETI, another panAfrican bank quoted on the Nigerian Exchange Limited (NGX) reported N320.6billion operating expenses in nine months of 2022, an increase of seven per cent from N300.72billion reported in nine months of 2021. Other notable banks with branches network across Africa and Europe, GTCO reported 13 per cent increase in operating expenses to N139.4billion in nine months of 2022, while FBN Holdings stood at N264.3billion in nine months of 2022, an increase of 15.2 per cent from N229.5billion reported in nine

months of 2021. Zenith bank with branches across Africa also reported N255.23billion total operating expenses in nine months of 2022, representing an increase of 17 per cent from N218.91billion reported in nine months of 2021. Commenting, the vice president, Highcap securities Limited, Mr. David Adnori said the hike in pan-African bank operating expenses is a reflection global economy unrest following the crisis between Russia and Ukraine, stressing that commercial banks operating in Nigeria and in Africa do not operate in isolation. He expressed that the growth in operating expenses reported by banks would defiantly have impact

on profit and dividend payout to shareholders of these banks. “The world is currently facing high inflation rate and Nigeria, Africa at large are not exempted from this experience, with countries on the continent witnessing record high inflation rate. The surge in inflation rate is following the rally in crude oil prices, amidst the face-off between Russia/Ukraine. “Reacting to the surging inflation rate, regulators of several countries where Nigerian banks operate have also raised their interest rates to curb the rising cost of goods and services. However, this is yet to yield any positives as inflation rate continues to remain high. With cost impacted,

Nigerian banks might suffer slow profitability this year and it might impact on dividend payout,” he explained. Fidelity Bank saw its total operating expenses increasing to N91.66billion in nine months of 2022, a growth of 52 per cent from N60.33billion reported in nine months of 2021. According to the bank, “Regulatory charges (AMCON/ NDIC) and staff cost represent 50.8per cent of our total operating expenses and were responsible for at least 38per cent of the growth in nine months of 2022.We have absorbed the full - year AMCON charge of N18.3billion and expect a further moderation in operating expenses in Q4.”

T H I S D AY ˾ WEDNESDAY, DECEMBER 14, 2022

BUSINESSWORLD

ECONOMY

Unlocking Nigeria’s Investment Potential for Sustainable Development James Emejo writes on the need for a coordinated strategy to unlock the country’s untapped investment opportunities toward economic recovery and sustainability

here are several reasons why Nigeria must move quickly to attract foreign capital especially Foreign Direct Investments (FDIs) into the country. If anything, it has the potential to solve some of the macroeconomic challenges including the foreign exchange crisis, and provide job opportunities among others. Foreign capital inflows can also help to solve Nigeria’s huge infrastructural gaps as the country recovers from the global economic downturn occasioned by the COVID-19 pandemic, and amid the disruption in the global supply chain, caused by the war between Russia and Ukraine. Several analysts have also attested to the fact that foreign inflows could help strengthen the Naira and shore up the country’s external reserves. Even the few investments that come into the country are mostly concentrated in a few states and regions, a situation, which had left most states without a single capital inflow over the years. Yet, amid rising poverty, improved foreign capital inflows are bound to promote inclusive growth and prosperity. DECLINING CAPITAL INFLOWS But, attracting FDIs has been a tall order in recent times. The total value of capital importation into the country declined by 2.40 per cent to $1.54 billion in the second quarter of the year (Q2 2022) compared to $1.57 billion in the preceding quarter, according to the National Bureau of Statistics (NBS).

However, when compared to the corresponding quarter of 2021, when capital importation was recorded at $875.62 million, it represented an increase of 75.34 per cent. According to the Nigerian Capital Importation Q2 2022, Lagos State topped the destination for foreign capital inflows with $1.05 billion, accounting for 68.66 per cent of total inflows into the country. This was followed by investment into Abuja (FCT), valued at $453.95 million

(29.57 per cent). Anambra attracted $24.71 million, Kogi $2 million and Ekiti 40.50 million during the quarter. However, portfolio investment accounted for 49.33 per cent ($757.32 million), representing the largest capital importation in the review period. This was followed by Other investment category which was valued at $630.87 million or 41.09 per cent of total inflows while Foreign Direct Investment (FDI) accounted for $147.16 million or 9.58 per

cent of total capital imported in Q2. Disaggregated by sectors, capital importation into banking had the highest inflow of $646.36 million amounting to 42.10 per cent of total capital imported during the period. This was followed by capital imported into the production sector, which stood at $233.99 million or 15.24 per cent. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY, DECEMBER 14, 2022

BUSINESSWORLD

NEWS

FCMB Provides Quick Response Payment Platform to Shoppers, Businesses

L-R: Associate Dean, Lagos Business School, Olayinka David- West; MD/CEO FSDH Merchant Bank, Bukola Smith; CEO/Co-Founder, HerVest, Solape Akinpelu; MD Meristem Trustees, Damilola Hassan; and Deputy Director, Enterprise Development Centre, Nneka Okekearu, during the launch of Stripped: An African Woman’s Guide to Building Generational Wealth authored by Solape Akinpelu in Lagos..recently

PenCom Announces 34 Mortgage Banks for RSA Mortgage Financing EbereNwoji No less than 34 mortgage banks have been approved by the Central Bank of Nigeria (CBN) to work with the National Pension Commission (PenCom) and Pension Fund Operators in providing mortgage financing to Contributors into the Contributory Pension Scheme(CPS). PenCom disclosed this at a media retreat organised by the Pension Operators Association (PenOp) for pension journalists in Lagos. PenCom said it would through collaboration with the approved mortgage institutions fully implement acquisition of residential mortgages by Retirement Savings Account (RSA) holders using their RSA balance. The commission which in September this year released guidelines on using RSA balance of CPS contributors for home mortgage financing said 18 out of the banks were from Lagos, eight from Abuja

and eight from other states. Head of Investment Department, PenCom, Ibrahim Kangiwa, said this during a seminar organised by Pension fund operators for pension reporters in Lagos. Meanwhile, PenCom and Pension Operators Association of Nigeria have highlighted the requirements for the Retirement Savings Account holders to access their equity contributions for the acquisition of residential mortgage. Presenting the theme paper, Kangiwa, said for contributors under the Contributory Pension Scheme (CPS) to be eligible to use their RSA balance for acquisition of residential mortgages, they must have contributed for five years (60 months) cumulative of employer and employee’s mandatory contributions. He said the same thing was applicable to the contributors under the Micro Pension Plan (MPP), adding that married

couples, who individually met the eligibility criteria, were also eligible. On authorised limit for equity contribution that qualifies a contributor, Kangiwa put the maximum allowed at 25 per cent of the RSA balance, noting that “where 25 per cent of RSA balance is more than equity contribution, the RSA holder can only access the amount equivalent to equity contribution required. He said Where 25 per cent was not sufficient for equity contribution, RSA holder may utilise Voluntary Contribution (VC) in line with the Voluntary Contribution guidelines. “Where 25 per cent is not sufficient for equity contribution, Micro Pension (MP) contributor may utilise contingency portion in line with MP guidelines. “Where 25 per cent is insufficient as equity contribution, RSA holder shall deposit the difference with the mortgage lender,” Kangiwa explained. Also speaking,

Head Surveillance Department of PenCom, DrEhimemeOhioma, said there was no doubt that the mortgage financing incentive would act as catalyst to grow number of contributors into the CPS scheme. He said Nigerian workers and contributors into the CPS scheme needed the mortgage financing through pension savings given the fact that Nigeria has the lowest percentage of home ownership when compared with other countries in the world even in Africa. He said this explained why the commission this time determined to implement the residential mortgage financing for the contributors to ensure that RSA holders have houses of their own. Chief Executive officer of PenOp, MrOgucheAgudah, said approval of the guidelines for mortgage financing using RSA savings was the best thing that could happen to RSA holders in Nigeria, considering the acute shortage in home ownership in Nigeria.

Bank of Industry, IFC Partner to Empower MSMEs NumeEkeghe The International Finance Corporation (IFC) and the Bank of Industry (BoI) have partnered to strengthen trade and boost access to finance for micro, small and medium-sized enterprises (MSMEs) in Nigeria. The Managing Director/ Chief Executive Officer Bank of Industry, OlukayodePitan, revealed this during a trade and supply chain finance workshop in Lagos. He said, “We are delighted to partner with the IFC on this laudable initiative towards ensuring that Nigerian businesses are not only able to boost their domestic production capabilities, but also able to partake actively in regional and global value chains for improved trade and economic growth.”

Nigerian MSMEs account for about 86 percent of employment and contribute 50 percent of nominal Gross Domestic Product (GDP), but receive significantly less finance from the private sector than is the average in sub-Saharan Africa. Two new IFC reports were launched at the event, providing fresh data and insights on the topic. Based on a survey of about 1,000 MSMEs across Nigeria, IFC’s Market Bite Nigeria: Innovation Offers Key to the Broader MSME Finance Market study identified an unmet demand for credit by Nigerian MSMEs of approximately N13 trillion, equivalent to $32.2 billion. Some of the reasons attributed for this gap include regulatory constraints and gaps in financial infrastructure, as many

financial institutions also perceive MSMEs as too costly and too risky to serve. The report recommendded that the financial industry leverages new technology and innovative business models to improve credit assessment capacity and better serve smaller businesses. According to IFC’s new Supply Chain Finance Market Assessment Nigeria report, MSMEs generate more than half of the Nigerian supply chain finance opportunity, accounting for N1.4 trillion ($3.5 billion). The report proposes that the supply chain finance market in Nigeria can be better met by raising awareness among MSMEs about supply chain finance, capacity-building among financial institutions, front office staff, regulatory

enhancements, and increased use of digital platforms. IFC research shows that improving the availability and cost of trade and supply chain finance could boost trade volumes by 8 percent to 16 percent, supporting economic growth and diversification in Nigeria and other key markets in the region. “Strengthening supply chains and trade flows through additional finance could set the stage for faster growth, economic diversification and poverty reduction in Nigeria and the region. We are glad to present these new reports with data and insights to encourage further investment to close the MSME finance gap,” said Kalim M. Shah, IFC’s Senior Country Manager for Nigeria, Liberia and Sierra Leone.

First City Monument Bank (FCMB) has launched a contactless, cardless, and cashless Quick Response (QR) code to boost instant payments for goods and services. The Bank introduced the payment solution to ensure a hasslefree shopping experience and transaction for customers and merchants. Easy to use and accessible via FCMB Mobile App, the QR code ensures instant value for Peer-to-Peer (P2P) and Peerto-Business (P2B) payments for goods and services. Commenting on the service, the Managing Director of FCMB, MrsYemisiEdun, affirmed the Bank’s commitment to deploying innovative solutions that move individuals, businesses and the economy forward. According to her, “we are excited to add the QR code payment solution to our growing list of cashless payment methods to meet the ever-growing consumer demand for on-the-go purchases and quick, easy ways to make payments. It aligns with our vision to be a key partner supporting all segments of society through innovative and convenient financial solutions that enhance customer experience while promoting a truly cashless

and contactless society. “The FCMB QR code payment solution is secure, easy to set up, offers low transaction fees and realtime payment confirmation, and reduces dispense errors. It is expected to boost the adoption of the cashless and financial inclusion policies of the Central Bank of Nigeria (CBN) as well as drive growth for business owners. “The Nigeria Quick Response (NQR) payment solution code is an initiative of the Nigeria Inter-Bank Settlement System (NIBSS) as an innovative payment platform implemented on behalf of all financial service providers. Launched in 2021, it is a solution that unifies all the QR code schemes in the country for consistent user experience and accelerated digital adoption. As consumers and merchants move towards technology-driven solutions, QR codes are increasingly important. “A purpose beyond-profit corporation, First City Monument Bank, a member of the FCMB Group led by LadiBalogun as Group Chief Executive, is building and driving an ecosystem that fosters inclusive and sustainable growth across Nigerian communities.”

CIIN Introduces Insurance Broking Courses in Qualifying Exams EbereNwoji The Chartered Insurance Institute of Nigeria (CIIN), has introduced Insurance Broking courses into its qualifications examinations. The Executive Secretary Nigerian Council of Registered Insurance Brokers (NCRIB) Mr Tope Adaramola, disclosed this in a statement made available to the media. Adaramola, said the NCRIB Governing Board under the leadership of Mr. RotimiEduwas happy for the introduction of the courses across the three stage level examinations of the institute, noting that those who wished to specialise in broking could now do so through qualifying examination starting from the April Examination Diet of the CIIN According to Edu, the content of the Insurance Broking profession would be enriched with the solid professional and intellectual content, which

would position them effectively to meet the changing needs of insurance clients The Council has noted that the newly approved individual and corporate professional seals for use by Registered Insurance Brokers would edge out charlatans and give more credibility to the existing professional brokers Edu had stated that the Council was accelerating its steps towards better selfregulation and that the issuance and usage of the professional seals would enhance the image of the Council as a collective and position the practitioners positively in the eyes of the public Edu who noted that contacts were already being made to intimate existing corporate clients of Brokers with the new development particularly charged government agencies and parastatals to patronise only registered insurance brokers with the seal of practice

Enterprise LifeAssurance:We have Mandate to Meet Changing Customer Needs EbereNwoji The Managing Director/Chief Executive Officer Enterprise Life Insurance Mrs. FunmiOmo, has said that the company’s mandate was to meet changing customer needs with new offerings, enhance interactions and build trusted relationships and strategic alliances. Omo stated this while hosting Lagos insurance brokers at the secretariat of NCRIB in Lagos. She said the underwriting firm recognised and appreciated

the unique role that brokers play not just as intermediaries but as trusted business advisors and partners. “Enterprise Life is excited about this opportunity to collaborate with the Nigerian Council of Registered Insurance Brokers and forge a lasting and mutually beneficial relationship.” Launched in March 2021, Enterprise Life is on a mission to reframe the way Nigerians see life insurance by making it an appealing proposition that is easy to accept, embrace and adopt as part of life’s necessities.

WEDNESDAY DECEMBER 14, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY DECEMBER 14, 2022

EDUCATION Majekodunmi: We’re Delivering Quality Education in Ogun In this interview, the Executive Chairman of the Ogun State Universal Basic Education Board, Dr Femi Majekodunmi, highlights how the agency is taking education in the state to an enviable height through prompt government interventions. Sunday Okobi presents the excerpts:

hat is the state of schools’ infrastructure in Ogun? In answering that question, we should look at it from what the situation was like before the advent of this administration. Before the coming of Governor Dapo Abiodun, the situation was terrible when you talk of infrastructural decay in all the schools – and it was not only schools; talk of hospitals, talk of roads and so on. Of course, many roads are under construction, but the schools were really hard hit. And one of the greatest things; one of the first things Abiodun did was not only to put education in the front burner of his administration; he went ahead even before the inauguration to plan and commence the education programme, exemplified by putting in the much-needed counterpart fund to take care of the infrastructural decay I’m talking about, to ensure that we are able to put in about N10 billion as counterpart fund plus the matching grant from UBEC to build new schools – what we call the Yellow Roof revolution all over; renovation of dilapidated structures, toilets, boreholes for the provision of drinkable water and so on. It was like a revolution; things started moving. And you can still see them all over the place. Has school enrolment and learning outcomes improved in Ogun? It has improved. I’m not conversant with the actual number, but I can give you an idea. I came in over a year after Governor Abiodun was inaugurated because the board was not constituted until about a year after, but I can still talk of the time he came in and now. When we talk of the enrolment of pupils (we call them learners), talk of pupils, teachers, and schools. Here we have about 13,000 teachers in various schools; we have about 1,500 primary schools. The population of teachers has increased remarkably, and new buildings have erupted, new teachers have been employed, the school environment has been made much better, and cleaner; teachers are now better trained. Gone were the days when teachers were employed without proper training, without the much-needed basic education. In all our schools now, you don’t see any teacher below the level of NCE, and they are well paid. Not only that, the salaries are paid promptly every month. In all these, the government has done a lot. Are rural and urban schools in Ogun treated differently? They are not really treated differently, but we are clamouring for a situation where they will be treated differently by way of getting something extra for those in the rural areas. Because when you consider many of the teachers in the rural areas, they have their base in the towns; many of them still live in towns, and they have to pay for transportation on a daily basis to come back. They need the incentive to make them stay. We are working on that. The shortage of teachers we’re having is in the rural areas. The basic things are okay. In fact, we’re struggling to maintain the maximum needed for the place. Pressure is so much on us to transfer those in the rural areas to the city that is already filled with teachers. The rural areas need teachers as much as the urban areas as well. Laxity in the inspectorate system is considered a factor in the falling education standard. What measures are in place in Ogun to monitor teachers? Here, that’s an area we really emphasise. We have an arrangement, a department: the Quality Assurance Department; they are saddled with the responsibility of going around regularly to make sure that many things are in place – teachers doing their work the way they should, pupils coming to school regularly, teachers being punctual in school. I, as the chairman, go around with my different teams. We have to go to the different senatorial districts to inspect what is going on; the same as when they are having examinations, we also go around as much as possible to be sure everything is in place. There are monitoring officers on the ground. We have different government education area

Dr. Majekodunmi offices. They are there; they are like our appendages in the various local governments, and each department has a representative there. They are the quality assurance we are talking about, just as we have them in the headquarters. They are in every local government. They have the administrative section in all the 20 local governments; we have the quality assurance in the education area offices; you have the Academic School Services, just as you have the accountants in all. So we are established in all the local governments. And we have our block of offices separate from the political government. You have the Education Area Authorities. And we take care of security as much as possible too. Apart from the watchmen, we got even the police to monitor for us. I remember at the inception of my coming here, we went to the commissioner of police in Ogun State, and what he put down is still in existence. The DPOs in every local government police division are to monitor school activities, especially the security situation, because in many of the local government areas we have miscreants, people messing up the schools, some landlords, and moneybags encroaching on school lands. Does the Ogun government involve the private sector in funding the education and academic infrastructure? There are some we encourage ourselves; we have the parent-teacher association, and we have the SchoolBased Management Committees. These and many other groups depending on the community are in all the schools. They help when it comes to minor issues. The SBMC for example emphasise a situation where the leaders in the community are the ones who really constitute the membership. More often than not you have the Baale or even the Oba being the chairmen of the various school management committees because we do realise that government cannot do it all, and they are there to assist the government in many ways. That’s what we can say about the internal arrangements. We have some external ones; companies that help us in many ways; they are providing some of our needs, building classrooms, toilets, fences, provision of water,

like boreholes. We have companies like Nestle; they have helped us over the years tremendously, even WAPCO (West African Portland Cement), Lafarge. In the teaching area, we have the TFN (Teaching For Nigeria); they have assisted us a lot by way of providing teachers. There are many other forms of assistance that come from philanthropists, businessmen, politicians; they also build schools for us, renovate schools, and supply books, and so on. I can’t forget the Federal Ministry of Education. They have different programmes whereby they help us with our needs. A new innovation has just come up: smart schools. Each state is going to have a smart school; each one consists of a complex structure, and then you have the primary, and secondary aspects of education and many other facilities, the type we’ve not had in many states, none in Ogun State. The Ogun State one is being built somewhere in Ikenne. When completed, it will be the number one primary and secondary school in Ogun. How does the Ogun government intend to balance the lopsided teacher-student ratio to meet UNESCO standards? Well, we look forward to the world standard as you mentioned, and our government is up to the task. Very soon, we’ll be launching the Education Endowment Fund because the government alone cannot take care of education funding; every government wants to retain the idea of free education, and it’s an extremely expensive exercise. And that’s why we are so grateful to the governor for all he has done; he has done a lot, but there is still more to be done to reach that level. What measures are in place to ensure quality assurance control with the mushrooming of private schools? Let’s take it from the notion; it’s not even a notion. It’s like a law. Basic education is compulsory for all. When you take it from there, the governor, with his enabling powers, is doing what he should by way of the provision of the necessary tools to make things work. We expect every child to be in school. Of course, we have cases of out-of-school children; those who should be in school that are not in school. That’s another area we are working on. There’s World Bank assistance for that-Better Education For All. With this, we make sure we put all in place, and that’s why I talked of the different departments: the administration, the school services and of course the quality assurance departments. With all these working together, we expect better education delivery in the state. Can you give us an idea of the kind of capacity development programmes you have for teachers? We have many. The principal one is the Teachers Development Programme. This is assisted by the

government. There is a lot he does to maintain all we have- to train teachers and retrain them. You have from UBEC itself which puts a huge sum of money from time to time. The last one we had was for 2018/2019; we are expecting 2020/2021 very soon. We were able to train thousands of teachers in many aspects of teaching, and we’ve been able to not just train them on the spot, we have cluster training whereby teachers from different schools are brought together and we get professors from universities to give them further training. The last one we did was very successful. We were able to train thousands of teachers, and their welfare is also well taken care of. They are given running costs in their various areas – rural and urban areas. They need little cash to run the place for cleaning, washing, taking care of the children, and getting first aid boxes and so on. They are given money every month – a huge sum of money when you consider how much we spend. I can tell you that N64 million is spent every month for primary schools. It was N32 million, but recently, less than a year it was increased because of agitation to increase the money for their welfare. And this increment cuts across so many other areas too, not just running cost. As you know, things are very expensive. That’s why we keep saying free education is very expensive for any government to run, but our governor is doing fantastically well. Despite what the government has done, are there no challenges facing the SUBEB? Yes, I’ve even mentioned some. There are many. Despite all the teachers we are employing, we still need more. I told you that before his coming in, the situation was deplorable. However, a lot has been done to improve the situation when it comes to the employment of teachers. When it comes to their welfare, a lot has been done. I’m sure there’s still more to be done; nobody does it 100%. And when you talk of the pupils, we have a situation now…just go to any primary school, the environment is clean. The pupils (we call them ‘learners’) are well-dressed. There is a discipline in the schools. We don’t allow any teacher to mess up. We monitor from time to time. Teachers (are) well dressed; pupils are well dressed, the environment is clean, and their needs are given to them as often as is necessary. And I told you that the quality assurance department is a very well-staffed, well-equipped department, going around from time to time and bringing reports; and what is to be done is done in good time. That is what we have. But I agree, there is still more to be done. The federal government has approved the use of the mother tongue for teaching in basic schools. What do you think? We all realise the need to do this. All over the world, it has been found that using the native language as the official language or language to teach pupils is better. You have a better understanding of the language, better control of the language, and better usage of the language. And what expect if this is done is that our children will do better in any assessment and other examinations that are given to them. That’s the way I feel, but we all know that we still have to wait for the expected good results when we start any good thing. What are the measures to tackle cultism and other anti-social behaviours in Ogun schools? You’re correct; we have a bit of it in Ogun State, just like any other state. It’s even more in secondary school than in primary school; most of the cases we have in primary schools emanate from secondary schools because they are a bit older. We’ve experienced this, but we are equal to the task by monitoring them from time to time. Our quality assurance department does not joke with any information about any of these unfortunate incidents in our schools; they go straight to deal with the situation – be it drugs or immoral behaviour not only by the pupils but even the teachers themselves, and we get them to face the disciplinary committee. We’ve had to sack teachers for immoral behaviour. All these abound, just as it abounds in society at large.

T H I S D AY ˾ WEDNESDAY DECEMBER 14, 2022

EDUCATION

Tayo: Babcock Teaching Hospital Records Success Don Urges Self-evaluation in Open Heart, Knee Replacement Surgeries in Tertiary Institutions for and she has since been sewage to the bio-digester is Medical and Dental Council Effective Service Delivery

Funmi Ogundare

The Vice-Chancellor of Babcock University, IlishanRemo, Ogun State, Prof. Ademola Tayo has said that its teaching hospital recorded success in 959 open heart surgeries, as well as total knee replacement surgery on a 65-year old patient. Tayo, who disclosed this recently at a dinner organised for members of the Education Writers Association of Nigeria (EWAN), said with this feat, the country could stem the tide of medical tourism. He said the 65-year-old patient had severe knee osteoarthritis on both legs

discharged after the successful surgery. He regretted that the country loses over N100 billion annually to medical tourism, saying that the successful surgeries by the institution’s Cardiac Centre will continue to create tangible options for Nigeria and people living in the sub-Saharan African region. The VC said the university is about to join the league of global institutions to replace butane with methane bio gas as cooking fuel, adding that the biogas project will soon be completed. “The second phase to connect the pipes from the

at an advanced level. The affluence from the breakdown of the bio-digester will be used as fertilizer, while the gas will be used for cooking. “This project will be one of the biggest energy savers and wealth creation strategies for the university. It is in line with the UN Sustainable Development Goals,” Tayo stated. He describe the university’s programmes as dynamic and diverse, saying that a programme in Medicine for instance, opens unusual doors for self-expression in other ways beyond health centres. He announced that the

of Nigeria has upwardly reviewed student enrolment in medicine from 100 to 120. Meanwhile, the vicechancellor has appealed to journalists to continue to equip themselves with current knowledge and skills needed for accurate election reporting and be aware of their duties to reduce hate speech and incitement to violence which often arise during election. He said as key stakeholders, they must facilitate political discourse, foster transparency and information sharing, and serve as an effective forum for public debate

The Vice Chancellor of Babcock University, Prof. Ademola Tayo, with some members of his management team and executive members of Education Writers Association of Nigeria (EWAN) at a dinner organised for the association in Ilishan-Remo, Ogun State... recently

Uchechukwu Nnaike

A university don, Professor Adamu Kabir, has advised all higher institutions in the country to develop a system of self-evaluating their performance to enhance service delivery. He said this in a paper, ‘Sustaining Quality Service Delivery in Higher Education and the Challenge of Dwindling Economy’, presented at the third quarter 2022 National Universities Commission Parastatal SERVICOM Committee (NUC PSC) meeting at the University of Lagos recently. The meeting, hosted by UMILAG in commemoration of its 60th anniversary, also witnessed the inauguration of the student arm of SERVICOM Committee tagged ‘SERVICOM Vanguard’, as well as the launch of the UNILAG Service Charter and Quality Assurance Policy. According to Kabir, all universities, departments, schools and faculties have vision and mission statements that could be used to self-evaluate their performance. He said the performance could be assessed through feedback from students, staff and community members. He also urged the SERVICOM and quality

assurance units to monitor the promises made by vice-chancellors at the beginning of their tenures and let them know if they are doing well or not. Kabir added that adequate funding of institutions play a critical role in quality service delivery, but regretted that public institutions are operating in precarious and turbulent financial environment, making it difficult for them to deliver on their mandates. The Vice-Chancellor of UNILAG, Prof Folasade Ogunsola, stated that customer satisfaction was one of the institution’s goals and core values, adding that students are considered the major and most important customers. She also stressed the need to make the environment conducive for the staff to serve students better. The Chairman of the NUC PSC, Mr Musa Ilyasu, said the quarterly meeting was organised to share best practices in quality service delivery. He warned lecturers against victimising or extorting students. The Director of Quality Assurance and SERVICOM Unit UNILAG, Prof Grace Otinwa, said the meeting was held to sensitise members on best practices and to evaluate their activities.

Lagos Business School Unveils Greensprings School, Southampton FC Introduce New Public Sector Leadership Programme Football Academy Mary Nnah

As part of its continuous contribution towards football development in Nigeria, Greensprings School Lekki campus has established a relationship with Southampton Football Club in England to run a football academy. The football academy aims to complement the school’s annual football camp, which recently produced two players featured in the Golden Eaglets squad that won the 2022 WAFU B

U-17 Championship. Mrs Jennifer SunkanmiQazzeem, Principal, Wider Curriculum of the school, explained that the introduction of the football academy is in line with the school’s theme and objectives for the 2022/2023 academic year. The Greensprings/ Southampton FC Football Academy (GSSFA) officially kicked off on November 7. Concerning the modality of the academy, Sunkanmi-

Qazzeem said students attend three training sessions per week after school hours and participate in FUTSTAR League, allowing foreign scouts to observe them. “Coaches at GSSFA are groomed the ‘Southampton Way’, and they provide topclass training that would enable our students to improve their technical and tactical skills,” she stated. “In addition to that, they will carry out customised

player evaluations aimed at helping our students identify career pathways in sports and allied industries.” According to her, the academy entails three training sessions per week, a coach-to-student ratio of 1:10 and participation in the FUTSTAR League, which gives them the opportunity to be scouted abroad. GSSFA is currently only open to students of Greensprings School.

Global Education Week: BIC Donates Learning Materials to Students Funmi Ogundare

BIC has concluded its fifth Global Education Week (GEW), designed to improve the learning conditions of 250 million students globally by 2025. The organisation donated 2.5 million writing materials to schools. In Nigeria, it collaborated with select educational institutions and individuals. To kick off the GEW activity, BIC donated products and

made a financial commitment to Let it Shine Academy (LISA), which provides equal opportunity, resources, and a healthy environment to students. BIC Nigeria also collaborated with Raising Star Africa Foundation, a non-government organisation formed to support, empower, and inspire quality education and life skills among differently abled and underprivileged children throughout Africa.

The organisation donated writing tools, renovated three classrooms and also held colouring and mentorship sessions with pupils to provide guidance and empower them to express themselves. BIC General Manager, Guillaume Groues, said, “We are ecstatic about leveraging our brand portfolio to support students across Nigeria and contribute towards the challenge of the lack of resources in the education space.”

He disclosed that his organisation would, in 2023, kick off its partnership with two Nigerian educators, Opeifa Olasunkami and Oluwaseun Kayode, to launch a year-long nationwide programme that will support and empower youths in Nigeria. BIC has been participating in Global Education Week for the last five years and uses it as an opportunity to mobilize the company’s global workforce to help improve learning conditions for students.

The Lagos Business School Public Sector Initiative launched its new executive programme to advance senior public service officers who need to broaden and deepen their capacity to lead effectively in a dynamic world. In providing public sector leaders with both global and locally adaptive frameworks, tools, and techniques critical to influencing the formulation, design and delivery of effective public policies, the programme will help equip existing toptier public sector leaders and develop a sustainable pipeline, improve leadership, policy formulation and implementation, and create platforms to foster understanding and networking between the public, non-governmental and private sector. According to the Academic Director of the programme and Director of the LBS Public Sector Initiative, Dr Franklin Ngwu, the programme will focus on key lead-

ership competencies to mobilise people, uphold integrity and respect and promote innovation and guide change. The keynote speaker at the event, Dr Suleyman Ndanusa, a former director-general and chairman of the board of the Securities and Exchange Commission, delivered a paper on the consequences of poor and reactive public sector governance and the need for change. He noted that “deeper private and public sector collaboration will strengthen the business environment, and with the right public sector policies in place, Nigeria will be transformed into an economic powerhouse with social stability and an improved standard of living for all.” The LBS director of Executive Education, Victor Banjo, announced that the programme starts in Lagos on June 19, 2023. The final module will be held at the Lee Kuan Yew School of Public Policy in Singapore in October 2023.

WEDNESDAY DECEMBER 14, 2022 • T H I S D AY

T H I S D AY ˾ DAY, DECEMBER 14, 2022

BUSINESS/MONEYGUIDE

SEC, Gambia Counterpart to Collaborate on Capital Market Development Kayode Tokede The Securities and Exchange Commission (SEC) has assured its Gambian counterpart of necessary assistance in their desire to develop more products in their bid to deepen the capital market. Executive Commissioner Operations of the SEC, Mr. Dayo Obisan stated this when he received a Team from Central Bank of The Gambia who were on a study visit to the Commission’s Zonal Office in Lagos recently. Obisan disclosed that the SEC Nigeria is making a lot of efforts to attract more Nigerians to the capital market, one of such steps is stated in the Revision of the 10-year capital market master plan which was launched recently by the Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed. He said, “We are doing a couple of things in Nigeria, just some few days ago we just relaunched our Revised capital market master plan. Other than the enabling law that we have, the capital market master plan is a 10-year document which we worked with in the last few years. “Within this period, we

realised that a lot of things had changed and there was the need to make some additions and subtractions to the plan. We needed to adjust and update the document to align with current realities for example when the plan was done things like digital assets were not really in the front burner. “But today, digital assets, non interest capital market products are taking more prominent seats in financing. These I am sure would also be of interest to you as well given the demographics of your country”. On illegal fund managers operating in the capital market, the SEC Commissioner said it is not peculiar to Nigeria, but assured that the Commission has put some measures in place in its quest to ensure that Nigerians are not fleeced of their hard earned money by these illegal outfits. “Just as you may have it in the Gambia, we also have our own share of battles with Ponzi schemes, people trying to defraud others of their hard earned money. They are everywhere. “And this always happens when there is despair or lack of hope, it does not mean one

nation is worse than the other. But the reason why we are regulators or an upholder of the law is to deter and minimise such effect. Here in Nigeria we are working hard to ensure that they are not allowed to thrive” he stated. Obisan told the Gambian visitors that the promoters of these unscrupulous schemes pose as operators in the capital market to defraud investors of their money with mouthwatering promises of return on investments. According to Obisan, “This has made it difficult for investors to differentiate between genuine and false investment opportunities. The activities of these Ponzi schemes promoters have posed a huge challenge to the Commission. In combating them, we are working in collaboration with other agencies to nip their activities in the bud. “Also, the Commission is working tirelessly to ensure investors are aware of these nefarious activities through investor education programmes. We urge the Nigerians to partner with us in the fight against Ponzi schemes by reporting to the SEC anytime such activities are noticed.”

SMEs to Benefit from Terminal Africa’s Simplified Logistic Solutions Sunday Ehigiator Terminal Africa, an impactdriven logistics solution platform has revealed that it has provided a world-class platform to enable SMEs to arrange deliveries, compare shipping rates, generate labels, track shipments, and update their customers across the continent. In a statement yesterday, the company introduced itself as a software firm that facilitates both local and global commerce through scalable technology-based solutions, while also expanding

logistics services to accommodate SMEs. “The prevalence and growth of SMEs, therefore, require solutions that can facilitate activities of small and medium-sized businesses, such as last-mile deliveries at low-cost, differentiated, and multi-layered services, accommodate digitalisation and automation and support retail strategies. “In essence, logistical services should be scalable, accessible and empower SMEs to contribute to the digital economy. “Terminal Africa provides a world-class platform to enable

SMEs to arrange deliveries, compare shipping rates, generate labels, track shipments, and update their customers. “To achieve this, the platform operates a multi-tier delivery system that provides access to logistical services for businesses regardless of their scale of operation.” It said besides the discounts and free features available on the Terminal platform, SMEs can shop for the exact scale of services that are suitable to their need without having to make unnecessary investments to acquire access to those that are not needed.

Jobberman Uncovers New Insights on Nigeria’s Youth Unemployment Jobberman Nigeria has released a 38-paged report that provides first-hand data on how the Nigerian youths navigate seasons of unemployment, with focus on the peculiarities of their coping strategies across each geo-political zone, as well as solutions based on data gathered. In a statement to announce the report, the Chief Executive Officer of Jobberman Nigeria, Oreoluwa Boboye, said “The

report is one of our strategic interventions to provide data-backed insights to aid the development of practical solutions to address youth unemployment in Nigeria. For decades, Nigeria has been positioned as a global economic giant due in part to its youth population. Our research shows that if urgent measures are not taken, this economic advantage can become the albatross for

lasting underdevelopment” Commenting on the report data, Jobberman’s Monitoring, Research and Learning (MERL) Lead, Olamide Adeyeye, said, “We found that more than 50% of the youths are both unemployed and unemployable. It was also interesting to see that these unemployed youths spend over 84% of money sourced from families and friends on food and 10.2% on data.”

Winners Emerge in SuperYogo Child of theYear Competition Winners have emerged in the second edition of the SuperYogo Child of the year competition. The campaign is aimed at not only developing and equipping children at learning but also supporting them with the nourishment to boost brain function needed to achieve their dreams. This year’s edition of the competition was focused on essay writing and generated huge interest as well as participation. The number and quality of entries from participants also ensured that it remained very

competitive. To stand a chance of winning, participants had to be in the age range of 6 – 13 years and write a descriptive essay on the topic: ‘In what way can the Nigerian Child be empowered to be unstoppable’. The competition ran for four weeks and had a winner emerge weekly. Brand Manager, SuperYogo, Abimbola Odimayo-Olabode, congratulated the winners of this year’s SuperYogo Child of the Year competition. She expressed optimism that the campaign will resonate with kids

across Nigeria by encouraging them to achieve their immense potential. “Through the SuperYogo Child of the Year competition, we will encourage and reward the ever growing number of children that have made SuperYogo their preferred frozen sweetened yoghurt brand of choice. By offering nourishing goodness that supports brain & body function, SuperYogo will continue to play an integral role in their development and reward them for excellence” she stated

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

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

T H I S D AY ˾ ˜ ͯͲ˜ 2022

Shareholders Approve Dangote Cement’s Share buy-back KayodeTokede The shareholders of Dangote Cement Plc, yesterday in Lagos unanimously approved the management of the company to undertake a share buyback of up to 10 per cent of its issued shares, effective from the date of the resolution. Share buyback, or share repurchase, is when a company buys back its own shares from investors. It can be seen as an alternative, tax-efficient way to return money

to shareholders. The cement manufacturing company currently has 16,873,559251 fully paid up ordinary shares of 50 kobo each and up to 1,687,355,925 fully paid up ordinary shares of 50kobo each, representing 10 per cent of the total issued shares of the company less the treasury shares in the company’s capital (the buyback shares). The company had earlier indicated an interest in undergoing a share buyback programme, in

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

respect of up to 10 per cent of its issued shares, for the purpose of improving the company’s return on equity and its shareholders’ value, so as to facilitate the future long-term growth of the company. The approval through voting, which was given at the company’s Extraordinary General Meeting (EGM), held recorded a 100 per cent approval from the shareholders, with many of them describing the exercise as very laudable and a win-win situation for them.

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

VALUE TRADED ( N )

Among other resolutions, the shareholders authorised that the “Memorandum and Articles of Association of the company be amended (as applicable), upon completion of the share buyback, to reflect the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.” The Board was also authorised to ensure that the amendment of the Articles of Association of the company reflects the company’s share

T R A D E D MAIN BOARD

capital, following the cancellation (if any) of the shares acquired and/ or otherwise held by the company. Speaking at the meeting, Chairman of the company, Aliko Dangote, said that “The proposed programme is being undertaken in line with the Company’s corporate strategy to make the company more attractive in the near term and to position Dangote cement for long-term growth. “The board of directors is of the opinion that it is in the best interest

A S O F

of shareholders to proceed with the proposed programme. A share buy back programme may result in an increase in the earning per share, in the absence of any other mitigating factors.” According to him, “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.”

1 3 / 1 2 / 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

ʬ ʬ

7 R S 7 UD GH V E\ 9 R OXP H

7 R S * D LQH UV

Vo lume

P rice Chg %

A CCESSC ORP

121.0

-0.6%

JA IZ B A NK

19.0

9.2%

3.6%

GT CO

17.2

0.0%

0.32

3.2%

FB NH

12.0

1.9%

ZENITHB A NK

23.00

2.4%

FCM B

8.6

0.9%

UCA P

13.50

1.9%

ET I

8.2

-0.4%

A IICO

0.55

1.9%

F ID ELIT YB K

7.1

1.0%

FIDSON

9.00

1.8%

ZENITHB A NK

5.5

1.6%

ROYA LEX

0.74

1.4%

ST A NB IC

5.2

-1.8%

WEM A B A NK

3.30

1.2%

T RA NSCORP

3.2

-1.7%

Ticker

P rice

P rice Chg %

SM URFIT

0.22

10.0%

CORNERST

0.50

8.7%

95.00

B UA CEM ENT FTNCOCOA

T icker

7 R S 7 UD GH V E\ 9 D OXH

7 R S /R V H UV Ticker

P rice

P rice Chg %

T icker

Value

P rice Chg %

SCOA

0.78

-9.3%

A CCESSC ORP

1028.4

-0.6%

CHA M S

0.21

-8.7%

GT CO

361.3

0.0%

JA IZB A NK

0.87

-8.4%

M T NN

197.0

0.0%

LA SA CO

0.84

-6.7%

ST A NB IC

155.9

-1.8%

-5.5%

FB NH

131.2

1.9%

-4.1%

ZENITHB A NK

123.7

1.6%

88.3

-0.4%

UP L CA P

16.20

M A NSA RD

1.83

-3.7%

ET I

JA P A ULGOLD

0.27

-3.6%

SEP LA T

43.1

0.0%

208.00

-3.3%

NEST LE

40.3

0.0%

5.45

-2.7%

GUINNESS

38.2

0.0%

M TNN A FRIP RUD

Afrinvest West Africa Limited

1.73

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com

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Damilare Asimiyu | dasimiyu@afrinvest.com

T H I S D AY ˾ ͯͲ˜ 2022

IMAGES

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: The National Youth Service Corps (NYSC), Oyo State Coordinator, Mrs. Grace Ogbuogebe; Oyo State Commissioner for Youths/Chairman, state NYSC Governing Board, Seun Akorede; and acting DirectorGeneral of NYSC, Mrs. Christy Uba, during the inauguration of an 800-seater auditorium at the state NYSC Secretariat in Agodi, Ibadan...recently

L-R: Finance/Administration Manager, Navgas Limited, Mr. Harry Nwosu; Managing Director, Navgas Limited, Mr. Merlin Figueira; Operations Manager, Mr. Benjamin Omuneri; and Commercial Manager, Mrs. Titilola Olaolu-Hassan, when the company celebrated three million man-hours without lost time to injury held in Apapa, Lagos…recently PHOTO; ETOP UKUTT

L-R: Osun State Deputy Governor, Prince Kola Adewusi; Secretary to the State Government (SSG), Hon. Teslim Igbalaye; and state Governor, Senator Ademola Adeleke, during the inspection tour of Johnmackay Primary School, Osogbo in the state…recently

L-R: Head of Communications, Payconfidence Limited, Mr. Emmanuel Chukwu; Chief Technology Officer, Mr. Tunde Suleiman; Marketing Executive, Payconfidence Limited, Isioma Okonkwo; Chief Executive Officer, Payconfidence Limited, Mr. Austin Onwughai; and Customer Relationship Manager, Payconfidence Limited, Mr. Joshua Ayetin, at the launch of an online payment transaction assurance solution by the company in Lagos…recently PHOTO: ETOP UKUTT

L-R: Marketing Assistant, Flour Mills of Nigeria Plc (FMN), Amarachukwu J. Anaedum; Category Manager, Marketing, FMN, Oluwatooni F. Odewole; Host, Family Feud TV show: ‘Franchise in Nigeria’, Bisola Aiyeola; Category Manager, Marketing, FMN, Chiaka C. Eluchie; and Category Manager, Pasta Marketing, FMN, Foluke Makinde, at the Ultima Production Studio, Lekki Phase 1, Lagos…recently

L-R: Director, Product and Marketing, Nigeria Export Promotion Council (NEPC), Evelyn Obidike; Head, Legal, NEPC, Mrs. Julie Emoke; Director, Corporate Service, Uduak Etokowoh; Regional Coordinator, NEPC (North West), Dr. Folorunso Akintunde; Executive Director/Chief Executive Oﬃcer, NEPC, Dr. Ezra Yakusak; Director, International Oﬃce, NEPC, Mr. Falake Babs; and Chairman, Board of Directors, NEPC, Senator Musa Ibrahim, during the Council ‘Export for Survival Walk’ in Lagos…recently PHOTO: ABAYOMI AKINYELE

L-R: Sales Lead, Interswitch Purepay, Nicholson Aleke; Head, Retail Payments, Interswitch, Suzan Fasipe; Group Head, Mobile Financial Services, Interswitch, Olanrewaju Adelanwa; Head of Sales and Business Development, Migo, Unimi Campbell; and Co-founder of Incash, Sudhanshu Gaurau, at the Interswitch Regional Breakfast Session held in Lagos…recently

WEDNESDAY, DECEMBER 14, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Ukraine Allies Pledge $1bn to Bolster Infrastructure Needs About 70 countries and institutions pledged more than $1 billion in new aid to Ukraine on Tuesday to repair the infrastructure Russia has battered with airstrikes in recent weeks, cutting power and water supplies for millions of Ukrainians during the winter months. After global officials met in Paris, French Foreign Minister Catherine Colonna said the money came from “new commitments. … It is aid, or gifts in kind. It is not loans.” She said the assistance would be “rolled out in the next days and during the months of winter which will help strengthen the resilience of civilian infrastructure.” About $400 million would be aimed at helping Ukraine’s energy sector, which Russia has repeatedly targeted with waves of airstrikes. Ukrainian President Volodymyr Zelensky told the aid meeting via video link that his country needed at least $840 million. French President Emmanuel Macron said Russia was trying to “plunge the Ukrainian people into despair.” Later, Colonna told a news conference, “We cannot leave them [Ukrainians] alone faced with winter, faced with their aggressor, which is seeking to inflict difficulties on them.”.

Iran Judiciary: 400 Protesters Jailed over Tehran Protests

Courts in Tehran have sentenced 400 people to jail terms of up to 10 years over their involvement in protests sparked by Mahsa Amini’s death, Iran’s judiciary said Tuesday. Iran has been gripped by nearly three months of protests — which officials describe as “riots” — since the death of Amini after her arrest for an alleged breach of the country’s dress code for women. “In hearings on cases of rioters in Tehran province, 160 people were sentenced to between five and 10 years in prison, 80 people to two to five years and 160 people of up to two years,” Tehran’s judiciary chief Ali Alghasi-Mehr said, quoted by the judiciary’s Mizan Online website. The Islamic republic has drawn widespread international condemnation after executing two men in the past week in connection with the unrest. Majidreza Rahnavard and Mohsen Shekari, both 23, were hanged on Monday and Thursday, respectively, on the charges of “moharebeh” — or “enmity against God” under Iran’s Islamic sharia law.

South Africa’s Parliament Votes Against Impeaching Ramaphosa

South Africa’s parliament voted against starting impeachment proceedings against President Cyril Ramaphosa over a report that says he held undeclared foreign currency at his farm in 2020. The lawmakers voted 214 to 148 against the move to impeach Ramaphosa. The ruling African National Congress party, which holds a majority in the parliament, largely stood with Ramaphosa, preventing the motion from getting the two-thirds vote needed to proceed with impeachment. However, four ANC parliament members showed their opposition to Ramaphosa by voting in favour of impeachment, and a few more did not show up for the vote. The crucial vote came after a damning parliamentary report alleged that Ramaphosa illegally hid at least $580,000 in cash in a sofa at his Phala Phala game ranch. It said he did not report the theft of the money to the police to avoid questions over how he got the foreign currency and why he had not declared it to authorities. UN: Half of Ukraine’s Energy Infrastructure Destroyed by Russian Attacks The United Nations reports Russia has destroyed 50% of Ukraine’s energy infrastructure, putting millions of people at risk of sickness and death as temperatures continue to plunge. Regular blackouts and power cuts are affecting just about everyone in Ukraine. The UN, however, reports the situation is catastrophic for more than 10 million people living near the front line. The UN says they are in the greatest need of assistance and are facing winter without water, heat and electricity. Jaco Cilliers, the resident representative to Ukraine for the UN Development Program, said helping people stay warm during winter will be a central part of the UN’s role over the coming months. “How to keep, for instance, just powers on in the hospitals, in schools, in community centres. Keeping people warm is a matter of life and death at the moment. And it is really a great concern that so many people are vulnerable in the current situation,” Cilliers said. “It is estimated that nearly 18 million people, or 40% of Ukraine’s population, will need some sort

of humanitarian aid during these periods of time.” Cilliers said Ukrainian President Volodymyr Zelensky had asked the UNDP and World Bank to do a needs and damage assessment of the infrastructure around the energy grid. The initial report is expected to be ready by the end of January and is to be updated every two months going forward..

SEC Charges Ex-FTX CEO with Defrauding Crypto Investors

The U.S. Securities and Exchange Commission has charged the former CEO of failed cryptocurrency firm FTX with orchestrating a scheme to defraud investors. An SEC complaint filed Tuesday alleges that Sam Bankman-Fried raised more than $1.8 billion from equity investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets. The civil complaint says Bankman-Fried diverted customer funds to Alameda Research LLC, his privately-held crypto fund, without telling them. The complaint also says BankmanFried commingled FTX customers’ funds at Alameda to make undisclosed venture investments, lavish real estate purchases, and large political donations. “Bankman-Fried placed billions of dollars of FTX customer funds into Alameda. He then used Alameda as his personal piggy bank to buy luxury condominiums, support political campaigns, and make private investments, among other uses,” the complaint reads. “None of this was disclosed to FTX equity investors or to the platform’s trading customers.” Alameda did not segregate FTX investor funds and Alameda investments, the SEC said, using that money to “indiscriminately fund its trading operations,” as well as other ventures of Bankman-Fried...

Floods Kill at Least 50 in DR Congo

At least 50 people have been killed in the Democratic Republic of Congo capital, Kinshasa, after heavy rains unleashed floods and caused landslides, the city’s police chief Sylvano Kasongo said on Tuesday. Entire neighbourhoods were flooded with muddy water, and houses and roads ripped apart by sinkholes, including the N1 highway that connects Kinshasa to the chief seaport of Matadi. “We are already at around 50 deaths, and that is not yet final,” Kasongo said. Images posted on Twitter by Congo’s government spokesman Patrick Muyaya showed a major road that appeared to have subsided into a deep chasm, with crowds staring at the damage. Muyaya said “several dozen compatriots” had died. He added that the prime minister, governor and other officials were on the ground making assessments and would

give a final toll later. The prime minister’s office said in a statement that the N1 highway, which connects Kinshasa to other cities, was cut in two in the Mont-Ngafula district. The road should be reopened in 3-4 days, it said. “On the National Road 1 there is a big hole. Only pedestrians can pass. We do not understand how the water cut the road,” said local resident Gabriel Mbikolo. At least 39 people died in Kinshasa in 2019 when torrential rain flooded low-lying districts, and some buildings and roads collapsed.

Judicial Strike Paralyses Courts Operation in Malawi

The support staff of Malawi’s judiciary system are holding a nationwide strike to force the government to improve their working conditions. The strike, which started Monday, has paralysed the courts as protesters block lawyers, police and others from accessing the court buildings. Court marshals, clerks and messengers say they will resume work only if the government addresses their grievances. The striking court workers spend their time chanting, chatting and playing football and netball around the court premises. Andy Haliwa, a spokesperson for the striking workers, told VOA the strike is a result of the government’s failure to honour worker concerns over terms of service that are revised every three years. “The last revision was made in 2018. We anticipated a revision in 2021. And from 2021 and 2022 we have been working on a document to revise these conditions,” Haliwa said. “Yesterday in the morning we received a communication from the office of the registrar that the terms and conditions have been approved. But to our surprise what has been approved is contrary to what was submitted to the Judicial Service Commission.” Haliwa said workers are demanding allowances for working overtime and outside their normal places of employment, among other things. A similar strike lasted two months in 2015 when the workers demanded a 30% salary increase.

New Zealand Imposes Lifetime Ban on Youth Buying Cigarettes

New Zealand on Tuesday passed into law a unique plan to phase out tobacco smoking by imposing a lifetime ban on young people buying cigarettes. The law states that tobacco cannot ever be sold to anybody born on or after January

1, 2009. It means the minimum age for buying cigarettes will keep increasing. In theory, somebody trying to buy a pack of cigarettes 50 years from now would need ID to show they were at least 63 years old. But health authorities hope smoking will fade away well before then. They have a stated goal of making New Zealand smokefree by 2025. The new law also reduces the number of retailers allowed to sell tobacco from about 6,000 to 600 and decreases the amount of nicotine allowed in tobacco that is smoked. “There is no good reason to allow a product to be sold that kills half the people that use it,” Associate Minister of Health Dr Ayesha Verrall told lawmakers in parliament. “And I can tell you that we will end this in the future as we pass this legislation.”

Australia Moves to Boost Regional Security

COVID, climate change and China will be the main subjects of discussion this week when a senior Australian delegation visits Vanuatu, the Federated States of Micronesia and Palau. Vanuatu is a group of islands threequarters of the way from Hawaii to Australia. On Tuesday, it signed a Bilateral Security Agreement with Canberra. It covers a broad range of areas, including disaster relief, policing, border security and maritime safety. In a written statement, Australia’s Minister for Foreign Affairs, Penny Wong, said the accord would “make a valuable contribution to the security of the Pacific family.” Wong is travelling with senior members of Australia’s centre-left government and conservative opposition members. The bipartisan delegation will also mark 35 years of diplomatic relations with the Federated States of Micronesia and will visit an elementary school to show Australia’s support for the islands’ education sector. In Palau, Wong and her colleagues will visit a solar project supported by Australia. Palau and the Federated States of Micronesia are independent countries but have signed a “Compact of Free Association” with the United States, which gives Washington responsibility for the islands’ defence and the right to maintain military bases. Palau is one of the few nations in the world to recognise Taiwan as a sovereign country. Its president, Surangel Whipps Jr., told the Australian Broadcasting Corp. Tuesday that the region faces many serious issues “from COVID, which hopefully is behind us, climate, which is constant, and we can say conflict and rising inflation and China.”

WEDNESDAY, ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

PRESENTATION OF PRIZES TO WINNERS IN GLO FESTIVAL OF JOY PROMO... L-R: Mrs. Omotade Abiola, a Glo dealer and Managing Director, SkyTee Telecommunications; former Commissioner for Information in Ogun State, Chief Fassy Yusuﬀ; Nollywood star, Odunlade Adekola; car winner, Temitope Bakare; Ogun State Commissioner for Information and Strategy, Waheed Odusile; Globacom’s Regional Manager, Sales, Mr. Ikenna Aguwuom; Nollywood actor, Bolaji Johnson Amusan (Mr. Latin), and representative of the Nigerian Communications Commission in Ogun State, Mrs. Helen Sadiku, at the presentation of prizes to winners in Glo Festival of Joy promo in Ijebu Ode...recently

SON Puts Global Substandard, Falsified Industry at $4.3trn Blessing Ibunge in Port Harcourt The Standards Organisation of Nigeria (SON) has estimated that the global substandard and falsified products' industry stood at $4.3 trillion as at 2021. The Director General of SON, Mallam Farouk Salim, disclosed this yesterday, in Port Harcourt, during the Golden Jubilee

celebration of the agency. He said the overwhelming figure justified the need for a robust collaboration between SON and the industrial sector to fight the scourge. He however urged industries to invest substantially in brand protection activities, to safeguard their intellectual property and associated brands against

counterfeiters, copyright pirates and producers of substandard products. “Be rest assured that, we are determined to rid our marketplace of these substandard and falsified products. It is said that quality is a journey without a destination," he added. Salim stated that SON and the industrial sector must undertake

this journey together. "The journey is necessary in order to industrialise Nigeria, create jobs and wealth, alleviate poverty, reduce" restiveness, minimise threats to our national security and achieve the fullness of our potentials," the DG noted. In his remark, the pioneer DG of the agency Brigadier General Anthony D. Etukudo (rtrd) said

FTX’s Sam Bankman-Fried Arrested in Bahamas Sam Bankman-Fried, the disgraced founder of the collapsed cryptocurrency exchange FTX, was arrested in the Bahamas on Monday after United States prosecutors filed criminal charges. “S.B.F.’s arrest followed receipt of formal notification from the United States that it has filed criminal charges against him and was likely to request his extradition,” New York Times quoted the government of the Bahamas to have said in a statement. The arrest was the latest stunning development in one of the most dramatic falls from grace in recent corporate history. Bankman-Fried, 30, was scheduled to testify in Congress yesterday, about the collapse of FTX, which was one of the most powerful firms in the emerging crypto industry until it imploded virtually overnight last month after a run on deposits exposed an $8 billion hole in its accounts. Prosecutors for the Southern District of New York confirmed that Bankman-Fried had been charged and said an indictment would be unsealed yesterday. Separately, the Securities and Exchange Commission said in a statement that it had authorised charges “relating to Mr. BankmanFried’s violations of our securities laws.” The criminal charges against Bankman-Fried included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, said a person with knowledge of

the matter. Bankman-Fried, who was the only person charged in the indictment, was taken into custody by the Bahamian authorities, the person said. He was arrested shortly after 6 p.m. at his apartment complex in the Albany resort in the Bahamas, according to a statement from the Bahamian police. The timing of when Mr. Bankman-Fried might be moved to the United States was unclear. While the Bahamas has an extradition treaty with the United States, the process could take weeks, and sometimes far longer if a criminal defendant contests it. Bankman-Fried was cooperative during the arrest, according to a person familiar with the matter, and will be held overnight in a cell at a police station. He was scheduled to appear on Tuesday in Magistrate Court in Nassau, the capital of the Bahamas. A spokesman for BankmanFried declined to comment. Nicholas Biase, a spokesman for the U.S. attorney’s office, also declined to comment. The sudden collapse of the crypto exchange has left the industry stunned. Federal prosecutors are said to be investigating whether BankmanFried manipulated the market for two cryptocurrencies, leading to their collapse. Bankman-Fried’s mother and father, who teach at Stanford Law School, are under scrutiny for their connections to their son’s crypto

business. “Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government, based on a sealed indictment,” Damian Williams, the U.S. attorney for the Southern District of New York, said in a statement. “We expect to move to unseal the indictment in the morning and will have more to say at that time.” Once a golden boy of the crypto industry and a major donor to the Democratic Party, Bankman-Fried has seen his vast business and political empire collapse with stunning speed. His exchange filed for bankruptcy last month, and his personal fortune has dwindled to virtually nothing. While he used to be hailed as a modern-day John Pierpont Morgan, he’s now more often likened to Bernie Madoff, who orchestrated the largest Ponzi scheme in history. Lawyers involved in the case expressed surprise at the suddenness of the arrest. Bankman-Fried had been widely expected to face a criminal indictment. But complex white-collar fraud cases can take months to build. Until the arrest, he was slated to testify remotely about the FTX collapse in a hearing in front of the House Financial Services Committee on Tuesday. “The American public deserves to hear directly from Mr. Bankman-Fried about the actions that’ve harmed over one million people,” Representative Maxine

Waters, who chairs the committee, said in a statement. “The public has been waiting eagerly to get these answers under oath before Congress, and the timing of this arrest denies the public this opportunity.”

Nigeria could no longer tolerate fake goods/products, in the markets, because they cause sudden and unexpected deaths, urging manufacturers to work in collaboration with SON, to be partners in progress. “To fight production and importation of fake and substandard goods, I had to travel to Taiwan to confront their manufacturers. I initiated the policy of burning of fake/ substandard goods as cables in Nigeria," he explained and affirmed that SON meant well for Nigeria. The pioneer DG noted that the danger of production of fake/ standard goods was that when consumers reject the goods, the profit of the company dwindles, until it begins to face bankruptcy

and gradually winds up, thereby sacking all the workers. "The mark of SON makes your products /goods most trusted, acceptable and sellable in the country and beyond," he explained. The Chairman of the event, who was also the Managing Director /Chief Executive Officer CEO, of LA Sien Bottling Company, Mrs. Seinye O. B. LuluBriggs in her presentation, stated that SON, had so far fulfilled its mandate, by ensuring that only quality products are produced and presented to the market. Represented by Mrs. Young Harry, Lulu-Briggs said: "SON has been rated number one, for promoting quality products. We appeal to all stakeholders for quality goods' production."

Sanwo-Olu Charges Security Agencies on Crimes-free Yuletide Season Launches Armed Forces Remembrance Day emblem, appeal fund

Lagos State Governor, Mr. Babajide Sanwo-Olu has charged the Nigerian Police and other security personnel in the state to work towards a crime-free yuletide season for residents by keeping the State safe during the festive season and beyond. He made the appeal on Monday, while launching the Year 2023 Armed Forces Remembrance Day Emblem and Appeal Fund at Ikeja. Sanwo-Olu urged serving security personnel to continue to reflect a high level of service, dedication to the call of duty and professional ethics that guide their profession. He said: “We appreciate all our service commanders for the job you are doing. We appreciate it and we do not take it for granted. Please continue to uphold the high level of professionalism that we know the Nigerian Military for. “Please continue to ensure that whenever you are called upon, you display that professional calling and you help us to continue to

keep our state and country safe. “We also want to encourage the Nigerian Police. Yours is a difficult one because you are in the eye of the storm but we know that Nigerian Police also have crop of professionals, competent and capable men that can rise up to the occasion. As we go into the yuletide season, it is a time when we need to keep our eyes open. “We keep saying to our citizens; see something, say something. And together with you, the DSS, and all other security architecture, this is a time we need to ensure that we continue to keep our city and state very safe. “I want to use this opportunity to encourage and to charge you that this is the time when we need you more. This is when security personnel should be vigilant. All of you that are in the security architecture, please let ensure we are able to provide a crime-free yuletide season for our citizens. This is a season of merriment and appreciating God for coming to

the end of another year.” Sanwo-Olu while congratulating the Nigerian Legion, especially the Lagos State council on another Armed Forces Remembrance Day, praised all the retired military officers, especially the fallen heroes for their meritorious service to the country at one point or the other. He also congratulated the newly appointed executive of the Lagos State Council of the Nigerian Legion that has just been sworn in to steer the operations of the Council for the next couple of years. Sanwo-Olu assured continuous support of his administration to the Lagos Council of the Nigerian Legion. Speaking earlier, the Deputy Commander General and Chairman of Nigerian Legion Lagos State Council, Akeem Olawale Wolimoh, commended SanwoOlu for his consistent immense contributions of various forms to the council and its members, as well as continuous support to ex-servicemen and families of the fallen heroes.

WEDNESDAY, ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

ROYAL GIFT TO UZOIMMA... Ooni of Ife, HRM Oba Adeyeye Enitan Ogunwusi, Ojaja II (right), presenting a gift to Governor Hope Uzodimma of Imo State at the latter's 64th birthday dinner which took place at the Banquet Hall of Government House, Owerri...recently

PDP Apologises to Nigerians, International Community over Tinubu's Chatham House Outing Advises ex-Lagos governor to address allegations, stop diversionary tactics Chuks Okocha in Abuja The Peoples Democratic Party (PDP) Presidential Campaign Organisation apologised to Nigerians and the international community for what it described as “the shame and embarrassing” outing of the All Progressives Congress (APC) presidential candidate, Bola Tinubu, recently, at Chatham House, London. The Atiku/Okowa campaign berated the Tinubu/Shettima campaign organisation for resorting to diversionary tactics of attacking and bullying the media rather than explaining the allegations around the APC candidate’s alleged shady past. One of the spokesmen of the PDP campaign, Mr. Charles Aniagwu, who rendered the apology at a news conference in Asaba, yesterday, said the apology had become necessary following the ignoble and mendacious show of shame put up by Tinubu and his handlers at a global stage like Chatham House. Aniagwu said Tinubu, by his action, had denigrated the office of the president that he sought to occupy and had brought immeasurable shame on Nigerians. According to Aniagwu, “As a party and as a Presidential Campaign Organisation, I want to, on behalf of my principal, Atiku Abubakar, apologise to the international community that, that kind of disgrace is not who we are in Nigeria. "For us, in PDP, as a political party, beyond the fact that we have continued to engage with different stakeholders and Nigerians across

all walks of life, our presidential candidate and his running mate are still very much ever ready to interface with Nigerians wherever they are in terms of their geographical location, or the ethnic group they belong or the class that they find themselves that we will continue to do so. "In line with our party motto, we are quite convinced that power belongs to the people and that they represent the sovereign and as such, we will not take for granted the rights of Nigerians to scrutinise our candidate, the rights of Nigerians to continue to ask questions as to what we are putting on the table. "Beyond the fact that our candidate has come up with his policy document, titled, ‘My Covenant With Nigerians’, it is a covenant with Nigerians, which embodies policy priorities that the AtikuOkowa government will deploy for the purpose of adding value to the lives of Nigerians." Aniagwu, who is also Delta State Commissioner for Information, said Atiku and his running mate, Dr Ifeanyi Okowa, would continue to seek ways for additional input from Nigerians for the purpose of enriching the discourse, and "our desire to have a country that works and works for all of us”. The PDP presidential campaign spokesperson stated further, "I am happy that you have continued to monitor developments in our country. Yesterday, we were in Lafia and today our presidential train is in Jos, where and where

has the APC been to apart from the disgrace that was visited on all of us at Chatham House? "We needed to render this apology so that our children will not go for an international examination and think that it is the right thing to do to distribute examination questions for others to answer for them. "Nigerians at any given time can stand their ground on any issue, so we are making this apology on behalf of the APC since they have not appreciated the shame they have brought to our wonderful country." In another statement by Kola Ologbondiyan, also a spokesperson of the Atiku/Okowa campaign, PDP party demanded that Tinubu and his bully handlers should face his self-inflicted woes instead of attempting to play the victim just to divert public attention from his

very unpleasant past. Ologbondiyan said it was reprehensible and unmistakable sign of culpability that Tinubu and his campaigners had desperately resorted to bullying, intimidating and harassing media houses and journalists with a view to silencing and stopping them from questioning Tinubu on allegations of perjury, forgery, corruption, massive treasurylooting and reported link to narcotics for which he forfeited a whooping $460,000 through the order of a court of competent jurisdiction in the United States. Ologbondiyan stated, "We, therefore, consider this diversionary approach by the Tinubu/Shettima Campaign as very unwholesome and unacceptable assault on the very bedrock of democracy, which is the right of the people to know,

The Economic and Financial Crimes Commission (EFCC), yesterday, conducted a public auction of over 190 vehicles and electronic devices at its Zonal Offices in Abuja, Benin, Port Harcourt, Kano, Ibadan and Uyo. The exercise was preceded by public inspection of the displayed photographs of the assets on Monday December 12, 2022, where potential bidders viewed and identified the vehicles of their choice. The auction proper commenced yesterday with various licensed auctioneers taking charge of the exercise at the designated centres, a

statement by the commission said. At Paragon Demonstration School, Limit Road, Benin City, scores of potential buyers bid competitively for the 20 vehicles slated for auction. The process began at 10.am with the auctioneer putting the first car on sale to the highest bidder. In Ibadan, where 80 vehicles were auctioned, the exercise took place at the Adamasingba stadium, Ibadan, with a member of the EFCC Asset Disposal Committee and Director, Proceeds of Crime Management, CE Aliyu Yusuf, on hand to coordinate the activities of the three licensed auctioneers, PSC International Investment Limited, Aikson Nwonkwo D.S. and Aliyu A. Kiliya &Co, selected to conduct

professional and constitutional duties.” According to Ologbondiyan, the action of the TInubu/Shettima Campaign Organisation further confirms that Asiwaju Tinubu lacks democratic credentials and has no business contesting for the office of the president of a country, like Nigeria, where citizens are resolute in their demand for a credible and acceptable leader, who has no skeleton of narcotics hidden in his cupboard. "Indeed, Asiwaju Tinubu has shown that he does not possess the qualities of the leader Nigerians are yearning for at this critical time of our history. Our campaign urges Asiwaju Tinubu to note that his diversionary tactic and attack on the media will not stop Nigerians from raising the necessary posers."

Deborah: HURIWA Threatens to Drag Tambuwal to Int'l Community Seeks travel ban, accuses police of halting prosecution Alex Enumah in Abuja As part of efforts to getting justice for the late Miss Deborah Yakubu, a Christian student, who was killed by a mob for alleged blasphemy in Sokoto State, the Human Rights

Writers Association of Nigeria (HURIWA), yesterday, threatened to drag Governor Aminu Tambuwal of the state before the international community. HURIWA specifically said, it would be asking the international

EFCC Auctions 190Vehicles in Abuja, Ibadan, Benin, Others Kingsley Nwezeh in Abuja

through a free press. "Asiwaju Tinubu must understand that having brought himself out to contest for the position of the President of the Federal Republic of Nigeria, he must prepare to explain himself to the littlest of Nigerians, as well as the media, which has the basic constitutional responsibility to seek information on behalf of every Nigerian. "It is, therefore, to say the least, irresponsible, thoughtless and incautious that the Tinubu/ Shettima Campaign will abandon its responsibility of assisting its candidate to offer explanation, if he has any.” Ologbondiyan advised APC to address the allegations, “rather than attacking media houses and demanding the sack of media practitioners for performing their

the auction. The exercise in Uyo took place at the National Agricultural Land Development Authority (NALDA), along four lanes in Uyo, Akwa Ibom State. It began at about 9.45 am and ended around 12. 35pm with nine cars, two trucks, 11 computers and nine mobile phones changing hands in an open and transparent bidding process conducted by Trevamteck K & G Limited, the auctioneer. In Kano, two cars, 16 mobile phones and one laptop were offered to the public by auction, while 35 vehicles, computers and electronic devices were put up for sale in Abuja, where hundreds of bidders participated in the exercise at the

Car Park A of the Wuse Zone 2 office of the Commission. The ongoing sale of forfeited assets by the EFCC, began on December 6, 2022 at the Lagos Command of the agency. Commander of the EFCC, CE Osita Nwajah, a member of the Asset Disposal Committee, said the EFCC gave the exercise wide publicity to ensure full participation by citizens. “We gave this exercise a very wide publicity, because we want total Nigerian participation. There is no hanky-panky, there is no underhand tactics. Everything that is done here is open and transparent, we want to be accountable to the Nigerian people," he said.

community to "place a visa ban" on the governor so as to compel him to take necessary action that would bring the alleged masterminds as well as perpetrators of the heinous crime. Deborah, a 200-level Home Economics student of Shehu Shagari College of Education in Sokoto, North-West Nigeria, was murdered in May this year by some religious fundamentalists for alleged blasphemy. Speaking with journalists in Abuja, HURIWA'S National Coordinator, Comrade Emmanuel Onwubiko, lamented that nearly seven months after, nothing substantive seemed to have been achieved, just as he accused the police of abandoning prosecution of culprits. "HURIWA calls on the police to do the right thing and resume the prosecution of the prime suspects in the matter. The legal system must ensure stiff punishment for the culprits to send strong signals that Nigeria is not a Banana Republic, where carnivorous entities showcase animalistic tendencies," it said. HURIWA also faulted Sunday's defence of presidential candidate

of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, over his initial tweet on the murder on the grounds that he did not approve the tweet before it was released. “I asked the tweet to be deleted, because I normally approve every tweet. So, since I didn’t approve it, I said, ‘delete it", Atiku had explained during a television programme last Sunday. But Onwubiko described Atiku’s defence as "bad image laundering efforts", accusing the former Vice President of tacitly supporting Deborah's death. While stressing that the late Deborah would always remain in the subconscious of Nigerians of good conscience, irrespective of their religious affiliation, the group urged the electorate to "watch out for leaders with tendencies to have blasphemy-related killings increase under them and reject them with their thumbprint at the ballot next year." HURIWA, has therefore disclosed that it would declare Deborah a martyr for human rights, because her killing was unjustifiable under any laws, locally and internationally.

WEDNESDAY, ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

NCC GETS AWARD FOR ‘EXCELLENCE IN TECHNOLOGY DEPLOYMENT... L – R: Sector Commander, Lagos Sector, FRSC, Mr. Olusegun Ogungbemide; Vice Chancellor, Bowen University, Prof. Joshua Ogunwole, and Director Public Aﬀairs, Nigerian Communications Commission (NCC), Mr. Reuben Muoka, at the Nigeria Technology Awards held in Lagos... recently

Obi in Kogi, Pledges to Make Nigeria Producing Nation Ibrahim Oyewale in Lokoja In bid to revive the ailing Nigerian economy, presidential standard bearer of the Labour Party, Peter Obi, has pledged to move the country from a consuming nation to producing one. Obi, who made the promise while addressing a crowd of

party faithful at his campaign rally at the Confluence stadium, Lokoja on yesterday, said, "It is a promise for I and my team are prepared to be held accountable. For that, we will move Nigeria from a consuming nation to a producing one. "We will make sure that production starts from local level;

we will increase minimum wage since the minimum wage today can hardly sustain workers; we should be able to produce enough for consumption and even export to create wealth. “Good people of Kogi State, we are not here to buy your vote; we are here to tell you how we are going to save the country;

we want to unite Nigeria; we want to bring the family back together; we want to bring back the rule of law. We will consult you before taking any decision on any matter that affects you because power belong to you." Obi also promised to ensure the the steel industry was revived to give strong backing to the

ALAKE/ONANUGA’S ALLEGATIONS: OBAIGBENA CLEARS AIR, CHALLENGES THEM TO PRESENT THEIR CANDIDATE FOR DEBATES THISDAY South Africa, which soon became easily one of the best newspapers in the country, by every ranking. However, the establishment did not like it that a Nigerian-owned newspaper was shaping public opinion. “A South African special security official once invited me to play golf and told me pointedly that they couldn’t have a Nigerian Newspaper Reporter at the (Union Buildings) State House. “Despite the support of Mandela and Thabo Mbeki, who had become president then, the establishment insisted on South African ownership for THISDAY Newspapers. “Shortly after that request, bank credit lines were frozen in South African banks despite presenting a $5 million Citibank guarantee from GTBank. The banks simply refused to grant credit to the newspaper. “After a few crisis meetings with South African investors and Naaspers, and our refusal to cede editorial control in any co-ownership from the bigger South African media companies, we closed our SA operations after some $30 million investment over two years.” In addition, Obaigbena stated that at ARISE News Channel and THISDAY, “We believe the narratives around Africa and Africans and the black race can only change, when we have strong global voices. “We have used our ‘sorrow, blood and tears’ (apologies Fela) to pioneer this process in South Africa, Europe and the USA. It can only get better. Aljazeera has done it for the Arab world; we too can. Even at home, back in Nigeria, we are being misrepresented and libelled by some envious peers.” Thus, contrary to the wild claims by Alake and Onanuga, the organisation did not owe any tax

authorities in South Africa, adding that it also paid all its creditors in an organised exit strategy. “If they have any such evidence to the contrary, they should publish it immediately,” he added, saying the debacle of THISDAY in South Africa was one of the factors that persuaded President Olusegun Obasanjo's administration to cancel the South African Airways takeover of Nigeria Airways, given that Nigerian businesses were being discriminated against in that country. Responding to the allegation about ARISE Networks Limited (ANL) UK, he said his disqualification as a Director was still a subject of litigation in the UK Court of Appeals and would not want to make further comments on the matter. His words: "The Judgement made it clear that there was no evidence of any dishonesty against Obaigbena. Since those initial teething difficulties, other ARISE entities have traded out of the shortages and ARISE News Channel is now thriving in the UK, Europe, the USA, Middle East and 54 countries of Africa. We await the judgement of the Appellate Courts on ANL as to why and if we ought to have known that the FX shortages in Nigeria would not improve to continue trading." Clarifying on the Economic and Financial Crimes Commission (EFCC) and the Newspaper Proprietors Association of Nigeria (NPAN) refund, Obaigbena explained that the anti-graft body invited him and Executives of other national newspapers to clarify payments made to NPAN, when he was president at the time. He revealed that the executives of all other newspapers involved (The Nation owned by Bola Tinubu inclusive), were also invited at the

time to clarify the payments they received. He stressed that he was not detained as he signed no bail bond, “and indeed has never been detained by the EFCC or the police in any criminal case, contrary to the fake news of Bayo Onanuga and Dele Alake.” He, therefore, explained that the N500 million THISDAY refunded was compensation the Jonathan administration paid THISDAY for the Boko Haram bombing of the newspaper’s elegant Abuja office. “The Jonathan administration paid compensation for, and/or rebuilt properties bombed by Boko Haram terrorists in Abuja, The United Nations and THISDAY inclusive. Again, when the Buhari administration requested refund, it was fully made. The property remains un-rebuilt,” he stated. On staff salaries, he stated that the organisation has been very consistent in paying salaries regularly, as and when due every month at ARISE News Channel. “We do not owe staffers at ARISE whatsoever despite the fake news of Bayo Onanuga and Dele Alake. Of course, all Newspaper houses are facing the tough economic environment arising from increasing cost of operations and dwindling copy and advert sales and most newspapers owe salaries from time to time. It is, however, taking hypocrisy to a new level for Onanuga to be sermonising about salary payments. “Those who passed through The News stable of which he was co-founder and CEO, have not forgotten how the company owed 11-month salaries between 1996 and 1997, how protesting staff were forced to forfeit 5-month salary as “contribution to the democratic struggle”, and how union leaders were sacked over the same protest.

“All we do is create value. We have had over 3,000 people in the employment of THISDAY/ARISE Media Group over the years and we are proud to have created value in human and resource capital. “Dozens of those we have employed here have moved on to become ministers, special advisers, ambassadors, commissioners, special assistants, and publishers of print and online newspapers, including several who are Tinubu’s personal staff and executives in his companies,” he said. To this end, he maintained that, “No misinformation, fake news of Bayo Onanuga and Dele Alake will change Obaigbena’s global trajectory. The journalists at THISDAY and ARISE News Channel are doing their duty by raising pertinent questions. “Rather than addressing our questions, Alake and Onanuga countered with wild and misleading allegations and fake news. We did not dismiss their allegations and have addressed them frontally. We now challenge them to respond with facts to the legitimate questions of the Nigerian people through their media. “Present your presidential candidate for Town Hall meetings, debates and interviews by the independent media that last for more than 8 minutes, and not pre-arranged Townhalls, where questions are pre-set, prearranged and rehearsed. “The resort to media bullying tactics, blackmail and fake news will not work. Journalists are not your opponents in the 2023 elections. When they go low, we go high.”

SEE FULL STATEMENT FROM THE OFFICE OF OBAIGBENA ON PAGES 16 - 19

economy. "Steel industry is very important to the development of the Economy, therefore, we will liaise with professional and experts, who know what to do with the Ajaokuta steel company immediately we are sworn in,” he said. The Labour Party presidential candidate, however, urged the people to reject other parties at the polls even if they bring money to buy their votes.

"If they bring money, collect their money but vote against them at the polls. Tell them we want to follow those who know road; tell them that you are tired of being in the wilderness," he stated. Earlier, convener of "Bring back our girls" campaign organisation, Aisha Yesufu, who was on the campaign train told the audience that "Nigeria needs Peter Obi as he represents fearlessness needed to address the insecurities in the country.”

We’ll Restore Peace, Revamp Economy, Atiku Assures Plateau Chuks Okocha in Abuja and Seriki Adinoyi in Jos Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has promised Nigerians that his administration would restore peace and revamp Nigeria economy if entrusted with the mandate in 2023. Atiku disclosed this yesterday during the Plateau State presidential campaign flag-off held at the Rwang Pam township stadium, Jos, and urged the Plateau people to vote him and the PDP governorship candidate, Caleb Mutfwang, and indeed all candidates of the party at the February and March, 2023 general election. Atiku said, “We have promised that we will restore peace in Plateau and Nigeria, we will revamp Nigerian economy and we will ensure that Plateau is connected with neighbouring states as far as road infrastructures are concern. “APC has neglected all the roads in Plateau connecting to other states in the country and we have promised to rehabilitate those roads for ease of economic development and the prosperity of the people.” He assured Plateau people and Nigerians that if PDP was restored to power in 2023, the prevailing security challenges ravaging the country would be a thing of the past. Vice Presidential candidate of the party and Governor of Delta State, Ifeanyi Okowa, said, the

PDP was the only hope Nigeria had ahead of the 2023 polls. “I am happy with what I am seeing here today, because you have given us the sign that PDP is winning the 2023 elections. APC took us down the hill, they took us to the very bottom, but now Nigeria will raise again,” he said. Okowa explained that PDP has provided a credible and competent presidential candidate that would turn things around for the good and unity of Nigeria in 2023, even as hecalled on the people to vote all the candidates of the party in 2023. National Chairman of the Party, Dr. Iyochar Ayu, who presented the party's governorship flag to Mutfwang, said, PDP was the party to beat at all level. He noted that the party was conceived and nurtured by competent Nigerian leaders that were determined to take power to the people, noting that power would certainly return to the people in 2023. Director General of the campaign and Governor of Sokoto State, Aminu Tambuwal, said a vote for PDP was a vote for Nigeria’s peace and unity. Chairman of the c Council and Governor of Akwa Ibom State, Emmanuel Udom, saidPlateau had impressed PDP with the massive turn for the presidential campaign rally. On his part, Mutfwang said the party has never lost presidential election in Plateau and assured party faithful that the state would deliver PDP in 2023.

WEDNESDAY DECEMBER 14, 2022 ˾ T H I S D AY

NEWS

WINNERS EMERGE IN PEAK MILK CAMPAIGN…

L-R: Senior Brand Manager, Peak Milk, Moni Kassim; Second runner up, Peak Unstoppable Humans of Change, Abimbola Ajala (represented by Temisan Oloyede); Marketing Manager, Peak Milk, Omolara Banjoko; Winner, Peak Unstoppable Humans of Change, Aderonke Kujore; Brand Manager, Peak Milk, Lilian Elue; and First runner up, Azuh Ify Chylian, at the grand finale of the Peak Unstoppable Humans of Change campaign held in Lagos… recently

Group Demands Tinubu’s Disqualification as APC Presidential Candidate Adedayo Akinwale in Abuja A group, Action Alliance of Virginia Pavilion has called on the Chairman of the Independent National Electoral Commission (INEC) to disqualify the presidential candidate of the All Progressives Congress ( APC), Asiwaju Bola Tinubu in the 2023 general election over his alleged involvement in narcotics and money laundering. The group, in a letter written on its behalf by its lawyer, Kalu Agu, dated November 14th

and titled, “Demand for You to Uphold The Oath of Your Office By Delisting the Name of Senator Bola Ahmed Tinubu As the Presidential Candidate of the All Progressives Congress in the 2023 General Election”, insisted that by virtue of his forfeiture of the sum of $460, 000 to the United States government in 1993, Tinubu was not fit to hold public office. The group said Section 137(1) (d) of the 1999 Constitution forbids anyone under a fine for any offence involving dishonesty

NYSC DG Urges Corps Members to be Security Conscious Onuminya Innocent in Sokoto The Acting Director-General of National Youth Service Corps (NYSC), Mrs. Christy Ubah, has urged corps members to be security conscious. Ubah also tasked the corps members to initiate impactful community projects and avoid insecurity prone areas. She gave the advice yesterday while addressing the 2022 Batch C, Stream 11, corps members at the NYSC’s permanent orientation camp at Wamakko in Wamakko Local Government Area of Sokoto State. She urged corps members to initiate viable projects that would impact positively on their host communities during service year noting that the effort would contribute to the development of the country. The acting director general

also enjoined corps members to avoid free rides in order not to fall on the tricks of criminals and to avoid unnecessary journeys during their service year. Ubah further advised corps members to always follow available channels of communication to address issues. She also cautioned them against social media, saying “don’t go to social media to report allowance issues. If caught, you’ll be sanctioned appropriately.” The acting director general also called on corps members who might participate in the 2023 general election to take advantage of the election’s sensitisation programmes and training to enhance their knowledge on electioneering. She implored them to be neutral, apolitical and patriotic by doing the right things during the elections.

The Board and Management of Vetiva Capital Management Limited yesterday expressed sadness over the death of its Deputy Managing Director/ Chief Operating Officer, Dr. Olaolu Mudasiru, in the early hours of Sunday, 11th December 2022, in a cycling accident in Lagos. In a statement, the Chairman of the Board, Professor Fidelis Oditah, said: “It is with great sadness that I announce the passing of my friend and colleague. Olaolu, as a co-founder of Vetiva, had served as our deputy managing director and a member of the Board of Directors sinceinception in 2004. With his support and leadership, Vetiva has grown to be a leading investment banking firm in Nigeria. Olaolu was humble,

charming, affable, empathetic and a great team player. He meant different things to different people, but all were uniformly positive. He was a valuable member of our board and would be greatly missed.” In his comments, the Managing Director and co-founder of Vetiva, Mr. Chuka Eseka said: “No words can adequately express our grief at Olaolu’s death. He has left an indelible mark on who we are today as a firm, and we collectively will strive to sustain this legacy of outstanding stewardship.” According to the company, following guidance from the family of Dr. Olaolu Mudasiru, it would make further announcements regarding the funeral arrangements in the coming days.

or fraud from vying for the office of president in Nigeria. It also drew the attention of INEC Chairman, Mahmood Yakubu to letters earlier served on the National Drug Law Enforcement Agency (NDLEA)

and Attorney General of the Federation, Abubakar Malami over the issue. It said: “As evident in recent media reports you are already aware of the contents of the Court proceedings referenced

in annexure “L1”. However, for ease of reference we hereto attach the said proceedings and is marked annexure “B” “Arising from the proceedings in annexure “B” we demand that you uphold your oath of office

which enjoins you to perform your duties in accordance with the provisions of the 1999 Constitution. We, therefore, invite your esteemed attention to Section 137(1)(d) of the 1999 Constitution which provides thus:

Lawmakers Pass Bill Restricting Foreign Vessels on Nigerian Waters Udora Orizu in Abuja Members of the House of Representatives have finally passed a bill seeking to restrict foreign vessels on Nigerian waters and allow only the carriers owned by Nigerians. The passage followed the consideration and adoption of

a report on the bill’s clauses laid by the Chairman of the House Committee on Maritime Safety, Education and Administration, Hon. Lynda Ikpeazu. The lawmakers had in March 2021 passed the proposed legislation which seeks amendment to the existing

Cabotage Act to promote the development of indigenous tonnage and also establish a Cabotage vessel financing fund, through second reading. Ikpeazu had in her debate on its general principles said the passage would reposition the Nigerian maritime sector to reach its potential.

According to her, the bill aims to address the challenges of the current Cabotage regime by adequately and effectively developing and protecting the rights of Nigerians to dominate in the area of commercial transportation of goods and services within Nigeria’s coastal and inland waterways.

Kwara Pledges More Support for SMEs to Tackle Poverty Hammed Shittu in Ilorin Worried by the poverty level in Kwara State, the State Governor, Alhaji AbdulRahman AbdulRazaq yesterday said the administration would continue to support small and medium scale businesses to

deepen economic growth and fight poverty. AbdulRazaq, who spoke in Ilorin at the opening of the 9th Kwara Joint Trade Fair 2022, said: “Nigeria’s trade and commerce have continued to suffer limited growth because the country consumes more

than what it produces and this largely accounts for the economic hardship in many households.” At least 170 SMEs and 60 large scale businesses are participating in the fair that will last till 20th of December. Themed: “Harmony through

Commerce”, the fair is jointly organised by the Kwara Chamber of Commerce, Industry, Mines and Agriculture (KWACCIMA), the Kwara State government, and the Nigerian Association of Small and Medium Enterprise (NASME).

2023 Census: NPC to Deploy Technology for Credibility Ayodeji Ake

The National Population Commission (NPC) yesterday said it would adopt a digital process through the aid of Personal Digital Assistance (PDA), to achieve a successful and credible 2023 population and housing census. Addressing newsmen at

the one-day capacity building workshop, in partnership with the National Orientation Agency (NOA), the Honourable Federal Commissioner, NPC, Lagos State, Barrister Bimbola Salu-Hundeyin, noted the 2023 census would be the first of its kind as the process will be paperless and all-inclusive through the help of technology.

She said: “The 2023 national population and housing census is going to be the first of its kind that has never happened before in Nigeria. It is going to be a digital census, unlike the previous census when we make use of Google maps. In 2023, we will have put all the maps in every locality, in every part of the state, and Nigeria

at large into the PDA which includes map-aided directions. For some areas the technology can’t cover, we will also employ hybrid enumeration. We have this time decided to leverage technology once we get your data, it immediately sends to the cloud where it is recorded so we can minimise fraud.

to Partner Foreign, Local Investors to Boost Agriculture Vetiva Capital Mourns Mudasiru Ekiti Gbenga Sodeinde in Ado Ekiti Monisade Afuye, made was incurably committed to Ogunje, revealed that adequate The Ekiti State Government has disclosed its readiness to partner with foreign and local investors to uplift the state and make it a microcosm of development in the country. Deputy Governor of Ekiti state, Chief (Mrs) Christianah

the disclosure in Ado Ekiti yesterday while playing host to the Special Adviser to the Canada President on International Affairs, Reverend Deji Babajide Kayode, who paid her a visit. Specifically, Afuye said Governor Biodun Oyebanji

attract private investors to boost agriculture and make Ekiti the food basket of the nation, owing to the comparative advantage the state enjoys in the sector. The deputy governor, in a statement by her Special Assistant on Media, Victor

funding to propel commercial agriculture forms part of the cardinal programmes and policy thrust of the present government, saying the government was receptive to any partnership that would galvanise support for the sector in the state.

Agabi: Right Education Pinnacle for Nation’s Devt BlessingIbungeinPortHarcourt

A former Attorney-General of the Federation and Minister for Justice, KanuAgabi (SAN), has advised that for Nigeria to excel in development, it should begin to give the young people right education. This as the Rivers State Governor, Nyesom Wike has donated N500

million to the PAMO University of Medical Sciences (PUMS) as support to education system. The former minister of justice, who described education as pinnacle for nation development, said education given to the youths today determines the future of the country. Agabi spoke yesterday, as a

keynote speaker at the second convocation ceremony of PAMO University of Medical Sciences, in Port Harcourt, Rivers State. Speaking on the subject: “Discipline”, the former AG expressed faith on Nigeria rising from its challenges, adding that the nation would do better if it encourages young on

entrepreneurship. He commended Wike for his commitment in ensuring that Rivers youths embrace education through the government’s Education Scholarship Scheme, while applauding the former governor of the state, Dr Peter Odili, for his initiative birthing the medical institution.

WEDNESDAY DECEMBER 14, 2022 ˾ T H I S D AY

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Police Parade Kidnappers, Bandits, Recover AK-47 Riffles in Sokoto Onuminya Innocent in Sokoto The Sokoto State Police Command yesterday said it has arrested two suspects in the case of kidnapping for ransom, including the neighbour of a seven-year-old boy that was kidnapped, and N1million ransom was paid before the boy was released to his parents. Parading the suspects before journalists at the Command headquarters in Sokoto, the state Police Commissioner, Muhammad Gumel, revealed that one of the suspects, who is a neighbour of the victim, invited his accomplice from Jos in Plateau State to carry out

the heinous crime in Sokoto. Also paraded are members of a bandit group terrorising some parts of the eastern senatorial district of Sokoto State and another criminal syndicate group that specialised in car theft. Gumel also disclosed that three AK 47, assorted riffles with ammunition, Dane guns and other dangerous weapons as well as stolen vehicles and the sum of N2.5 million were recovered from the suspects, as he promised to prosecute the suspects in court at the conclusion of investigation. In another development, Gumel also sounded warning

to politicians who are planning to foment troubles in the state to have rethink as the police would not hesitate to decisively

deal with trouble makers. He noted that the new Electoral Act has spelt out what constitutes offence before and

during elections, cautioning political parties and candidates to address their supporters to desist from thuggery and avoid

violence during electioneering and elections, saying the perpetrators of violence would not be spared.

Two to Die for Raping UNILORIN Student to Death Hammed Shittu in Ilorin

Kwara State High Court in Ilorin, the state capital, yesterday sentenced two persons to death by hanging for culpable homicide and for raping a 300 level student of the University of Ilorin, Miss Olajide Gloria Blessing Omowumi, to death. The convicts are AbdulAzeez Ismail and Ajala Moses

Oluwatimileyin (aka Jacklord). The convicts along with six others namely: Oyeyemi Timileyin Omogbolahan, Abdulkarim Shuaib (Easy), Kareem Oshioyemi Rasheed (Rashworld), Abdullateef Abdulrahman, Daud Bashir Adebayo, and Akande Taiye Oladoja, were in June last year arraigned before the court for rape and murder of one Miss Olajide Gloria Blessing

Omowumi at her residence located in Tanke area of the Ilorin metropolis. The deceased, said to be staying with her elder sister in the area, until her death, was a student of Agricultural Science Department of the university. She hailed from Oke-Opin community, Ekiti Local Government Area of the state. The defendants were brought before the court by the state

government in suit number: KWS/33c/c/2021, on 11-count charge bordering on armed robbery, illegal possession of firearms and rape. Delivering his judgment, which lasted for about four and half hours, Justice Ibrahim Yusuf convicted Olayemi Timileyin Omogbolahan (third defendant) of rape, and sentenced him to life imprisonment.

PDP, Labour Party, Others Pledge Steer Clear of Niger Delta Minster, Ijaw Youths Warn Blackmailers IbungeinPortHarcourt He said Umana had shown the Minister of Niger Delta Affairs, Commitment to Health Reform Agenda Blessing passion and commitment to his Umana Okon Umana, to enable The Ijaw Youths Council (IYC) job of bringing development to the him focus on his vision for the

OnyebuchiEzigboinAbuja

Presidential candidate of the Peoples Democratic (PDP) and former Vice President Atiku Abubakar and his counterpart for Labour Party(LP), Mr. Peter Obi have given undertaken to ensure the implementation of the country’s health reform agenda. PDP chieftain, Pedro Obaseki, who represented the party at the event said that the party’s candidate has expressly stated in his manifesto what he intends to do with regard to improvement of the health sector

if elected. “You heard the stakeholders at the meeting castigate the eight years of this administration and praising the past PDP government’s strides in the health sector. It is clear that under all the previous presidents of Nigeria who were PDP members, there were no preponderance of healthcare tourism, major hospitals were build by the PDP government, he said . For instance, Obaseki said that current National Health Sector Act was enacted by the PDP Led

administration in 2014. He said that most of improvement recorded in the health sector were during PDP days in government . . When asked the state in specific terms what will be the expectations of Nigerians from the Atiku Abubakar presidency, he said: “All our plans for Nigerians as it pertains to health is contained the 5-point agenda ranging from Healthcare Provision Fund, Primary Healthcare to efforts to reduce the issue of medical tourism in the country.”

INEC Moves to Decongest Polling Units in Ekiti Gbenga Sodeinde inAdoEkiti As an urgent and effective measures to prevent electoral malpractices that are usually associated with crowded polling units, the Independent National Electoral Commission , (INEC) , has made plans to decongest some polling units in the state. The commission explained that the decision was aimed at reducing the long queues and time wasting and as well allow

more voters to exercise their rights during elections in 2023 general elections. The commission assured the electorate that they would be not be disfranchised by the process. The Resident Electoral Commissioner(REC) for Ekiti state , Professor Ayobami Salami, who spoke during a stakeholders’ meeting in Ado-Ekiti, called on the political parties and other stakeholders to educate the people on the new development, which

he said would enhance effective electoral system. He stated that some registration area centres, super registration area centres and collation centres would be moved to different places for security reasons and provided adequate space for number of ad hoc staff during the elections. “All the communities and registration areas where these relocations were done have been properly communicated to the stakeholders,” he said.

Advanced Exploration of Gold, Lithium, Others Commence in Abuja Kasim Sumaina inAbuja

The Minister of Mines and Steel Development, Olamilekan Adegbite, has disclosed that an advanced exploration and mining project for gold, silver, and lead has commenced in Baba Tsauni area of Gwagwalada in the Federal Capital Territory (FCT). This is even as he hinted that Segilola Resources Operating Limited (SROL), a West African

subsidiary of Thor Exploration Limited, has paid about N1.1 billion in royalties to the federal government since they started production in 2021. Adegbite made the disclosure during a facility tour of SROL in the Iperindo area of Osun State. The minister in a statement issued in Abuja expressed the government’s willingness to welcome more relevant investors as SROL as a means to attract more

royalties to the government and create more jobs for Nigerians. According to him, “An Aurelian company came into Nigeria in 2021, brought some investment while others are about starting operation and another company which has also made imprints in Nigeria is acquiring equities right now. “So many other companies like that have come to Nigeria; some are at the explorative stages while some have even gone beyond that.”

NEMA Receives 105 Nigerians from Chad IbrahimShuaibuinKano The Kano territorial office of the National Emergency Management Agency (NEMA) has received 105 stranded Nigerians from Chad Republic at the Malam Aminu Kano International Airport, Kano, on Monday’s night. The Kano Territorial Coordinator of NEMA, Dr. NuradeenAbdullahi, told reporters yesterday that the returnees arrived at the international

wing of the airport with Boeing 737-7k9 ASKY Airlines operated by Ethiopian Airlines KP9401 with registration number ET-ANH. According to him, “the returnees were brought back to Kano under the care of the International Organisation for Migration (IOM) from Chad through a voluntary repatriation programme. “The program was meant for the distressed Nigerians who had left the country to seek greener pastures

in various European countries and could not afford to return when their journey became frustrated.” “The returnees included 24 male adults, 23 female adults and 58 children. “The returnees are from Katsina, Kano, Adamawa, Maiduguri, Yobe and Taraba States among others” He explained that the returnees would be trained for four days on vocational skills and would be given a grant capital to become self-reliant.

Hennessy Hosts Annual Finale Concert in Lagos Hennessy, a leading selling cognac, hosted Lagos to an electrifying experience last Friday, at the Hennessy Artistry Finale Concert. The event, themed: ‘Diffraction’, was lights, sound and reflective mirrors as guests were thrilled in an experience centre filled with custom photo areas, VR games and more. The immersive

experience area featured a variety of activities to keep guests engaged and pumped for what will become one of the biggest social events of 2022. The artist line up for this year’s concert had A-list artists and global exports such as M.I, Vector, Patoranking, YoungJohn, OmahLay, Pheelz, Mayorkun,

amongst others. At the exclusive event, guests showed up pumped and ready to party in their urban casual fits. Trade partners, celebrities, industry giants and influencers and many more, gathered to celebrate the festival that was the Hennessy Artistry Finale Concert - the biggest of its kind since inception in 2009.

Worldwide has warned alleged blackmailers of the Minister of Niger Delta Affairs, Umana Okon Umana, to desist from such act and allow him focus on realising his mandate in the ministry. The IYC President, Peter Timothy Igbifa, gave the warning yesterday, in a statement in Port Harcourt, Rivers State.

region and should not be distracted by mischievous individuals. Igbifa said instead of trying to pull him down through baseless, unfounded and false allegations, Umana deserved the support of all stakeholders from the region. He said: “We are warning detractors and professional blackmailers to stay away from

ministry. “Already, the minister has shown his passion and commitment to reposition the ministry and actualise its mandate for the Niger Delta. Instead of resorting to baseless and unfounded allegations fabricated to pull him down, all stakeholders in the region should support him to move the region forward.”

Buhari, Osinbajo Emerge Africa ICT Champion President Muhammadu Buhari and Vice-President Yemi Osinbajo have emerged the Africa ICT Champions for the year 2022. This was disclosed at the award announcement session coordinated by )RXQGHU DQG ÀUVW &KDLUPDQ

of the Africa Information and Communication Technologies Alliance (AfICTA), Dr Jimson Olufuye, held at the end of its 10th summit held last week. The duo of Buhari and Osinbajo were voted winners for engendering more than 18 percent ICT contributions to

Nigeria’s GDP in 2022 and 40 percent overall ICT value chain contribution to the Nigerian economy. They were represented by the Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande, at the closing ceremony.

WEDNESDAY, ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

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

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Kick-off: 8pm Date: December 14 Venue: Al Bayt Stadium Morocco’s Head Coach, Walid Regragui, has warned that the Atlas Lions are not contented with merely making history as first African team to reach the semi-final of a FIFA World Cup but to become the ultimate winner of the trophy. Morocco are playing defending champions France tonight at the Al Bayt Stadium for a place in the final of Qatar 2022 scheduled for this Sunday. The Atlas Lions will also become the first team from outside Europe and South America to reach the final if they defeat the cup holders. Speaking yesterday at a prematch conference ahead of the second semi-final clash, Regragui insisted that the Atlas Lions are not satisfied with merely reaching the Last 4 but to go all the way to the title. "If we are happy just to reach semi-final and some see that as enough, I don't agree," began Regragui. "If you get to the semifinals and you are not hungry then there is a problem.” He stressed that the best team in the tournament, Brazil, have crashed and that the title was open for all the teams at this stage of the tournament. “The best team in the tournament, Brazil is already out. We are an ambitious team and we are hungry. But I don't know if that will be enough," observed the ambitious coach who took charge of the team barely months before the Atlas Lions arrived here in Qatar. Perhaps buoyed by the impressive credential the North

African Lions have chalked up here which include defeating both Spain and Portugal in the knockout stage, Regragui said that there was no reason an African team cannot become the champion having come this far. "We want Africa to be top of the world, but we will have to be strong to progress. We are not the favourites but we are confident - maybe that makes me mad, crazy? A bit of crazy can be good," he added. "Everyone might think we are tired, they said that before the last games too, you can't be tired in a World Cup semi. Yes, we are still hungry," he added. The Moroccan gaffer admitted his team passed through a difficult route to the semi-final. "We had perhaps the most difficult route to the semis. Every round people thought we would get knocked out but we are still here and we are going to fight to the end," Regragui said despite the injury problems some of his key players are facing. He said there was no decision yet on the fitness of his skipper and key central defender, Romain Saiss. The good news, however, for the African team is the arrival of injured Morocco midfielder, Amine Harit, who plays for Marseille in the French Ligue 1. Harit, 25, was originally chosen to play at the World Cup but got injured one week before the start of the tournament. He arrived in Qatar on Monday to be with the team for their semi-final against France today. He was welcomed by teammates, several of whom posted pictures with him on social media on Monday. The Marseilles player has moved

Lloris Backs Kane, Urges Spurs’ Teammate to be Proud of Feat for England Hugo Lloris has revealed he spoke to Harry Kane in the aftermath of the England captain's crucial World Cup penalty miss against France and has backed his Tottenham teammate to bounce back quickly from his Qatar disappointment. Kane had already scored one penalty in Saturday's quarter-final against France goalkeeper Lloris before blazing another late kick over the bar, allowing the holders to beat England 2-1 and advance to the last four at the expense of Gareth Southgate's side. "We had a text after the game. It was not easy to find the words straight after and I think he needed some rest," said Lloris, who has played alongside Kane at Spurs

since 2013. "It is a difficult time obviously for the English national team and for Harry but I think he can be proud of what he has done in this World Cup. "Top players have missed important penalties in their careers, like Leo Messi, Cristiano Ronaldo, like Kylian Mbappe. "I have no doubt Harry will keep his chin up and he will help Tottenham and the national team to shine." The pair will be reunited at their club after the tournament in Qatar with Tottenham's next Premier League game scheduled for December 26 away against Brentford.

Morocco, France Clash Live on DStv, Gotv Morocco will be aiming to continue their fairy tale run when they face defending champions, France, in the second semi-final match today. The match will be live on World Cup Central (DStv channel 202 and GOtv channel 33), at 8pm. Morocco became the first African country to qualify for the semi-final of the World Cup after beating Portugal 1-0 in the quarterfinals. The North Africans remain unbeaten in the tournament and have the best defensive record, having conceded just one goal. France also became the first defending champion since Brazil in 1998 to reach the semi-finals of the World Cup, courtesy of their 2-1 victory over England in the quarterfinals. They are on course to be the first country in 60 years to retain the trophy.

French Striker, Kylian Mbappe, is the tournament highest goal scorer with five goals. The Atlas Lion's Coach, Walid Regragui said it will be a mistake to focus on Mbappe. "I am not going to try and set up any particular tactical plan to counter Kylian," he said. "France also has other good players. (Antoine) Griezmann is on top of his game and playing well between the lines and Ousmane Dembele is also a perfect complement to Mbappe on the other wing. "I am not going to try and set up any particular tactical plan to counter Kylian," he said. France also has other good players. Griezmann is on top of his game and playing well between the lines and Ousmane Dembele is also a perfect complement to Mbappe on the other wing.

DURO IKHAZUAGBE Reporting live

in with the squad at their base in Doha here and was continuing his treatment for a knee injury