FRIDAY 15TH DECEMBER 2023 by THISDAY Newspapers Ltd

Tinubu: Having Akpabio, Abbas at My Side as NASS Leaders Enough to Make Me Succeed Assembly not an appendage of executive, says Senate President

Deji Elumoye in Abuja

President Bola Tinubu, yesterday,

disclosed that the efforts of his administration to transform Nigeria’s economy were yielding

results with the support of the National Assembly led by Senate President, Senator Godswill

Akpabio, and Speaker of the House of Representatives, Hon. Tajudeen Abbas.

Speaking at a colloquium in Abuja to mark Akpabio’s 61st birthday, Tinubu said the

challenges facing the country Continued on page 5

AMCON Recovers Over N1.8tn, Says It Remains Profitable Year-on-Year... Page 6 Friday, December 15, 2023 Vol 28. No 10474. Price: N250

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Fubara Signs N800bn Budget into Law Adedayo Akinwale in Abuja and Blessing Ibunge in Port Harcour

L-R: Son of the deceased, Otunba Abimbola Ogunbanjo; former governor of Ogun State and leader of the All Progressives Congress (APC), Chief Olusegun Osoba; Secretary to the Government of the Federation (SGF), Senator George Akume; Governor Dapo Abiodun; Sen. Tokunbo Ogunbanjo and his wife, Mrs Aina Ogunbanjo and the Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, with clergymen at the back row, during the service for the late boardroom guru and philanthropist, Chief (Dr) Christopher Ogunbanjo held at the Church of the Epiphany, Erunwon-Ijebu, Ogun State...yesterday

Blunt and quite unfazed by the political storm raging in his state, Continued on page 5

FGVows to Award Oil Assets to Only Companies with Proven Capacity in Future Bid Rounds Says era of delay of licence extensions, ministerial consent over Assures producers of enabling policies to attract investments, ramp up production How Tinubu lobbied heads of states over Nigeria's OPEC quota raise Presidency: $13.5bn investment expected in energy sector in 12 months Investor uncertainty persists two years after PIA passage, IPPG bemoans

Peter Uzoho The federal government has said henceforth, only energy firms with proven capacity would be prioritised and considered for award during bid rounds. The move is expected to halt the mistake of selling Nigeria's oil and gas exploration and production assets to companies lacking funding and technical capacity

to optimise the valuable resources. Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, made the assertions at the 2023 Annual Dinner of the Independent Petroleum Producers Group (IPPG), held in Lagos. Lokpobiri assured players in the Nigerian oil and gas industry that the present government had Continued on page 5

ENUGU'S STRATEGIC PARTNERSHIP WITH AFREXIMBANK...

Governor of Enugu State, Dr. Peter Mbah (left) and President, African Export-Import Bank (AfreximBank), Prof. Benedict Oramah , in a warm handshake during a strategic partnership meeting between the duo at Afreximbank's headquarters in Cairo, Egypt...recently

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Cardoso: Inflation, Exchange Rate to Decline in 2024 Projects less revenue from oil exports next year

Sunday Aborisade in Abuja

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said in Abuja yesterday that the rising inflation and exchange rates will reduce drastically in 2024 . Cardoso, who also projected less revenue from oil exports next year, declared that the total trade from Nigerian Foreign Exchange Market (NFEM), stood at N18.804 billion in the third quarter of 2023. He spoke when he appeared before the National Assembly joint committee on Banking , Insurance and other Financial Institutions for an interactive session.

He explained to members of the joint committee from both chambers of the National Assembly that outlook for domestic economy in Nigeria for 2024 remains very positive as both the inflation and exchange rates , would withstand fluctuating pressures on them and get stabilised. He said: “The outlook for the domestic economy remains positive and expected to maintain the positive trajectory for 2024 . "Inflation pressures may persist in the short - term but is expected to decline in 2024. Exchange rate pressures are also expected to reduce significantly with the smooth functioning of foreign

exchange market." He told the committee members that the unification of the exchange rate windows in June 2023, had ushered in a new approach to the management of the exchange rate , aimed at reducing arbitrage , rent seeking behaviour and speculation in the market. " The policy aims at creating a market where the demand and supply of foreign exchange determine the exchange rate . " The premium has narrowed and our focus on increasing the autonomous FX supply , would lead to more stability and further narrowing of the premium . "Total trade in the third quarter

of 2023 , stood at N18.804.68 billion. Exports were valued at N10.346.60 billion while total imports stood at N8.457.68 billion. “This represents positive trade balance, which would lead to increase of the external reserves", he said . He however stated that due to domestic prevailing factors, less revenues would be earned from oil exports in 2024 . He said :" We expect less revenue from oil exports due to the production limit of 1.78 mbpd in 2024 . "However, the country's production has been below these thresholds. The budget benchmark

for 2023 was 1.69mbpd , but the highest level of production during the year, was about 1.35mbpd in Q3 of 2023. "The reasons for the underperformance of the oil production target , include , crude oil theft and pipeline vandalism , production shut - ins and divestments by major oil companies ". The Chairman of the joint committee , Senator Tokunbo Abiru ( APC Lagos East) , said the interactive session was organised for statutory briefing by CBN in line with extant laws . The co - Chairman of the committee , Hon. Bello el-Rufai

Cardoso , in his remarks , commended the CBN governor and the entire management team on measures being put in place to stabilise the economy generally.

FG VOWS TO AWARD OIL ASSETS TO ONLY COMPANIES WITH PROVEN CAPACITY IN FUTURE BID ROUNDS

put an end to the era of delay of license extensions and ministerial consent. He promised the oil and gas producers of enabling fiscal and regulatory policies to attract investments into the petroleum sector and, ultimately, ramp up production. The minister explained how President Bola Tinubu lobbied heads of state of member countries of the Organisation of Petroleum Exporting Countries (OPEC) to support Nigeria's demand for oil production quota increase. At the occasion, also, the presidency, through the Special Adviser to the President on Energy, Mrs. Olu Verheijen, disclosed that investment worth $13.5 billion was expected in the country's energy sector within the next 12 months. The revelation came as Chairman of IPPG, Mr. Abdulrazaq Isa, bemoaned persistent investor uncertainty in the oil sector, despite the Petroleum Industry Act (PIA), which was enacted over two years ago. Lokpobiri, who was scheduled as the guest speaker at the occasion, challenged the indigenous operators under the IPPG family to up their game in optimising the country's hydrocarbon resources. He reminded them that the future of the country was in their hands, as nobody could develop the country better than them. Acknowledging the contributions of the 29-member indigenous oil producers, whom he said were currently producing a combination of about 200,000 barrels a day, Lokpobiri expressed his belief in their capacity to double that number in the near future when given the right incentives. As part of government's policies to support the industry players through creation of an investment-friendly environment with robust incentivising fiscal and regulatory frameworks, the minister assured that the administration would henceforth, "not delay your extensions, we do not delay your ministerial consent, or whatever." "In the past, minister doesn't sign anything without seeing the face of the owner of the company. But since I came, I don't need to see anybody's face. And that doesn't affect only the upstream, it also affects the midstream and the downstream.

“And this is one of the ways we want to see how we can liberalise the entire process so that businesses can easily be going on", he said. Furthermore, Lokpobiri reiterated his earlier position that when conducting future bid rounds, only companies that have proven capacity to develop the assets and bring them to production would be prioritised and considered for award. He explained, "I've also said that it is important that going forward, when we want to do any bid round, the boys shouldn't come. Let the men alone come. Part of what we have discovered is that we have so many people who have licenses and they have no capacity to be able to do exploration. So it ends as souvenirs in their cupboard. "So going forward, the members of IPPG, please get ready. Any other bid round, I want to assure you that you, the men, will be the ones to be considered. In fact, to me, if I give anybody any licence, and the person wears some nice suit and starts roaming around the world looking for investment, I've caused him more pain. "He has spent money to pay signature bonus, and he keeps travelling around the country, travelling around the world in the name of looking for investment. Investment that will never come. “So I believe that those of you who have already proven capacity should be the people that we should prioritise in terms of future bid rounds." He noted the government understood the challenges facing the operators, which border mainly around fiscal, security, regulatory, funding and policy inconsistency, stating that the government was now expected to remove all the bottlenecks complained about by the players. The minister said for Nigeria to meet its target of producing at least two million barrels of oil per day in 2024, the IPPG as a group has a critical role to play. He said he was embarrassed when he went for OPEC meeting and the Nigerian delegation was trying to argue that the country had capacity to produce more than two million barrels per day but OPEC disagreed. According to him, OPEC told Nigeria that they signed an agreement that their November

production would form the country's quota for 2024, adding that if the country was producing 2.5 million barrels instead of the current 1.3 million barrels, its quota would have been 2.5 million barrels. Lokpobiri, narrated how President Tinubu lobbied heads of states of member countries of the oil cartel to support Nigeria's demand for oil production quota increase. The minister further explained, "And so, we had to argue. Mr. President too had to make calls to some heads of state. In fact, one of the reasons why Mr. President went to Saudi was because of this matter, because he had to go and speak to the ruler of Saudi. I was

there before he came. "The Minister of Energy in Saudi is like a Pope. He determines what happens and so we had to lobby, we had to go to the Equatorial Guinea, we had to go to countries to see how they can support us. "At the end of the day, because OPEC doesn't consider condensates, we have OPEC quota of 1.5 million barrels. With condensate of about 300 000 barrels, we can fund our budget for the year 2024. "But it’s my conviction that we can do a lot more. Our problem is not capacity; our problem is other factors from security to the integrity of our facilities. And so, by the time we start addressing some of these concerns, I believe

State, where he understudied Lagos, drew up a blueprint, and implemented it as a two-term executive governor. The president stated, "I believe in the person of Senator Godswill Akpabio. He is truly in God’s will for his life. I was governor in Lagos State from 1999 to 2007, and he was a commissioner. “As a commissioner, he was extremely inquisitive about what was going on in Lagos. I didn’t know then that he wanted to be a governor. As governor, he transformed Akwa Ibom tremendously."

floating of the African Energy Bank. He said Nigeria was currently struggling and fighting very hard to ensure that the headquarters of that energy comes to Nigeria since there is no continental headquarters of any agency in the country apart from ECOWAS. "And so the president himself is giving us all the supports. We are making all the lobbying we need to do, so that at the end of the day, at least, the headquarters of the African Energy Bank comes to Nigeria, so that IPPG members may have closer access to the bank, and explore the opportunities of getting more funding from that Continued on page 36

FUBARA SIGNS N800BN BUDGET INTO LAW Governor Siminalayi Fubara signed the 2024 appropriation bill of N800 billion into law yesterday, less than 24 hours after he presented it before a four-member Rivers State House of Assembly. The signing ceremony held at Government House, Port Harcourt, the same premises where the legislators sat, the day before, to receive and approve the budget estimate. However, the political crisis in the state got messier yesterday, as the Attorney General and Commissioner for Justice, Professor Zacchaeus Adangor, and four other commissioners resigned from the Fubara cabinet, citing personal reasons. The resignations came as the 27 lawmakers, who recently defected to the All Progressives Congress (APC), defied the order of a Rivers State High Court presided by Justice MW Danagogo, and held a parallel plenary. At the same time, APC said it would fight illegality in Rivers State and resist any attempt to intimidate, harass, or hunt its members. Fubara had while presenting the 2024 appropriation bill before the lawmakers less than 24 hours ago, said the proposal was anchored on the assumptions of crude oil price benchmark of $70 per barrel and 1.5 million barrels production per day, with an exchange rate of N750 to the dollar. The governor said the budget would be funded from Internally Generated Revenue (IGR), Federation

Account Allocation Committee (FAAC) receipts, 13 per cent Oil Mineral Derivation Fund, Value Added Tax (VAT), Excess Crude, and grants from development agencies. He assured that no efforts would be spared in implementing the quality projects and services itemised in the 2024 appropriation. Fubara said the budget would be driven in a manner that would make a positive impact on the lives of all residents of the state. But the political crisis besetting the state assumed an interesting twist yesterday, with the resignation of the attorney-general and four other commissioners. Adangor and the four other commissioners, Chukwuemeka Woke (Special Duties), Alabo George-Kelly (Works), Isaac Kamalu (Finance), and Inime Chinwenwo Aguma (Social Welfare and Rehabilitation), left amid the uncertainties in the state. In a letter, titled, "Notice of Resignation as Honourable Attorney General and Commissioner for Justice, Rivers State," and addressed to the governor, through the office of the Secretary to State Government, Adangor said the action was based on personal principle. The Senior Advocate of Nigeria (SAN), wrote, "I hereby give your Excellency notice of my resignation as the Honourable Attorney-General and Commissioner for Justice, Rivers State, with effect from the date of this letter. "For the avoidance of doubt, my resignation from the said office is based purely on personal principles."

TINUBU: HAVING AKPABIO, ABBAS AT MY SIDE AS NASS LEADERS ENOUGH TO MAKE ME SUCCEED would be jointly assessed by the executive and legislature with a view to evolving implementable solutions for the good of Nigerians. According to him, “Having Senate President Akpabio, and the Speaker of the House of Representatives, Abbas, on my side is enough for me to succeed, and we will succeed." Extolling the leadership credentials of the senate president, Tinubu said the chairman of the National Assembly had always shown commitment to national development, starting out as a commissioner in Akwa Ibom

that by 2024, we will be able to produce at least two million barrels. "I want a situation where we can put in like 2.5 million barrels a day, so that OPEC can call us to say, look, stop producing this much! And then we can brag, we can tell them that well, we can sell some to the global community but the rest is for domestic refining and then satisfying our domestic needs". Also, as part of the solutions to resolving the funding problems facing the operators in Nigeria and other African countries, Lokpobiri said the continent was trying to address that challenge through the African Petroleum Producers Organisation (APPO) the proposed

Tinubu recalled how some of the economic and social programmes initiated by Akpabio, when he was governor, developed the state, noting that the drainage system Akpabio constructed saved many lives and livelihoods. Earlier in his remarks, the senate president commended Tinubu for his visionary leadership, most recently demonstrated by the quality of decisions taken so far to ensure improved security and a revamped economy. Akpabio said regarding Tinubu, “You are the first president who

openly stepped out and said you believed that someone like me would make a difference as Senate President. “It is not that the National Assembly is an appendage of the executive. President Tinubu is the first to get it right. Mr. President, there’s no country that you have been to that investors did not rush to meet with you." Akpabio assured Tinubu that the National Assembly would work with him to transform the country, adding, “We did not come for a boxing bout. We came to transform Nigeria."

He thanked Fubara for giving him the opportunity and privilege to serve in his administration. Adangor stated, "My family and I are indebted to Your Excellency in gratitude. I wish your Excellency a successful tenure. Please, accept the assurances of my highest regards always." Adangor published his resignation letter on his personal Facebook page yesterday morning. Woke, who was Wike’s strong ally and served under him as Chief of Staff before he was returned as Commissioner for Special Duties in the Fubara government, was yet to make public the reason for his resignation yesterday. But the Commissioner for Social Welfare and Rehabilitation, Mrs Aguma, who tendered her resignation letter yesterday, said, "My decision to resign is personal and based on other pressing commitments." Aguma, wife of the late Chime Aguma (SAN), a former Attorney General and Commissioner for Justice in the state, wished Fubara a successful tenure. In his own resignation letter, dated December 14, 2023, George-Kelly said his decision to resign was based on his conscience, personal philosophy, and professional ethics. He added that the decision was taken after deep introspection. The finance commissioner, Kamalu, thanked Fubara for the opportunity to serve in his administration, but did not state the reason for his resignation. Relatedly, the 27 lawmakers, led by the speaker, Martins Amaewhule, were sitting yesterday, against a subsisting court order, at the Assembly Quarters, in Port Harcourt, the same time Fubara was signing into law the 2024 appropriation bill. The budget signing cereony was witnessed by lawmakers, led by court-ordered Speaker, Edison Ehie. During the sitting led by Amaewhule, the Assembly passed the Rivers State House of Assembly Funds Management (Financial Autonomy) Bill, 2023, after debating the report of the House Committee on Public Accounts on the bill. Commenting on the report presented by Chairman of the Committee, Major Jack, Amaewhule emphasised the importance of the passage of the bill, which he said would provide for the management of funds accruing to the Rivers

State House of Assembly from the Consolidated Revenue Fund of the State. He added that the law would ensure accountability and efficient utilisation of funds. Amaewhule stated that with the passage of the amendment bill, elected local government chairmen and councillors would be liberated from arbitrary removal and suspension. The Assembly also condemned what it described as heartless and brazen demolition of the legislative complex by Fubara, without their approval and knowledge. Amaewhule hinted that the Assembly would write to the United Nations and governments of other well-known democracies on the actions of the governor against the legislature. He stressed that no amount of harassment, intimidation and mindless attacks against the legislature would turn them away from their constitutional duties. Similarly, APC said it will fight illegality in Rivers State, and would not allow anybody to hunt, intimidate, harass, or threaten its members. Rivers State APC caretaker chairman, Tony Okocha, disclosed this while addressing a press conference in Abuja against the backdrop of the ongoing political crisis in the state. He said APC will not allow illegality to fester in the state. Okocha stated, "Yesterday (Wednesday), Rivers State woke up to a surprise, a judge of the state high court, Justice Anagogo, berated National Judicial Council (NJC's) decision on the issue of issuance of frivolous ex parte orders. "We, as a party, said clearly that rule will fight illegality. We will not allow illegality to fester in our political history. We will not allow anybody to hunt, intimidate, harass, threaten our mebers. "You cannot place something on nothing and you expect it to stand. And illegality is illegality.” Okocha stressed, “Let me also let you know that what makes an Assembly is not the structure, but the human beings in that assembly. "So, an Assembly can be moved to anywhere provided the mace, which is the symbol of authority, is there. As at yesterday, about 27 members sat and took the far-reaching decision on state matters. You will see all of them sign underneath those decisions."

NEWS

T H I S D AY • FRIDAY, DECEMBER 15, 2023

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

INTERACTIVE SESSION BETWEEN JOINT COMMITTEE OF SENATE, HOUSE AND CBN…

L-R: Governor Central Bank, Olayemi Cardoso; Deputy Governor, Corporate Services, CBN, Dr Bala Bello and Director Trade and Exchange, Dr Mahmood Hassan at an interactive session with a joint Committee of Senate and House on Banking, Insurance and Financial Services held yesterday in Abuja JULIUS ATOI

AMCON Recovers Over N1.8tn, Says It Remains Profitable Year-on-Year Emmanuel Addeh in Abuja

The Asset Management Corporation of Nigeria (AMCON) has said it has so far recovered over N1.8 trillion, stressing that in the year 2022, the corporation made a profit of N58.59 billion. This was disclosed by the Managing Director/ Chief Executive Officer of the corporation, Mr Ahmed Kuru, according to a statement by the Head, Corporate

Communications Department, Jude Nwauzor. Kuru, the statement said, spoke at the first interactive session with members of the 10th Senate Committee on Banking, Insurance and Other Financial Institutions at the New Senate Building, National Assembly Complex. At the event chaired by the committee’s head, Senator Adetokunbo Abiru, the AMCON boss while providing an overview of the

corporation’s activities, said the corporation had remained a profit-making organisation aside from delivering on the recovery mandate for which it was created by the federal government ab-initio. He added that its activities cover enforcement, asset management , even though AMCON was created as a “bad bank” with various challenges beyond its control. “AMCON made a profit of N23.97 billion in 2020, which

increased to N34.65billion in 2021. In year 2022, the Corporation made N58.59 billion profit. “The loss captured in the management account as of September 30, 2023 was because interest accrual on the Central Bank of Nigeria (CBN) loan note had been charged as expense to its profit and loss account” It explained that this was while the corresponding credit, the receipts for external recoveries, which is estimated

New NCDMB Boss, Ogbe, Assumes Office, Pledges to Re-certify Agency's Performance Peter Uzoho The newly-appointed Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Omatsola Ogbe has assumed office, starting with his first official meeting with the directors and management of the board. Ogbe was appointed last Thursday by President Bola Tinubu, replacing Simbi Wabote, who had served for seven and half years in office. At a meeting held yesterday at the NCDMB’s Abuja liaison office, the new executive secretary received a high-level briefing on the board’s projects and initiatives from the directors and senior management. In his remarks, according to a statement by the agency's corporate communications department, the new NCDMB boss lauded the achievements recorded by the agency, especially the human capacity development programme which had produced Nigerians who now provide high-tech services in other African oil-producing countries. Commenting on the Nigerian Content 10-year Strategic

Roadmap, which had recorded 54 per cent achievement in the 6th year of implementation, Ogbe was quoted to have announced that expert consultants would be invited to certify the performance and metrics, to give it more authenticity. He charged senior officials of the board to continue delivering high performance in their various roles, to sustain the board’s premium position. He also indicated the need for the board to carry out sensitisation programmes to key stakeholders in cities across Nigeria on the opportunities created by the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. Ogbe also harped on the need for the board to work closely with its contractors to speed up the delivery of its direct projects such as the Nigerian Oil and Gas Parks Scheme, to realise their objectives for the economy. The statement revealed that the new executive secretary, who hails from Warri South in Delta State is a vastly experienced oil and gas engineer and holds separate Masters Degrees in Civil Engineering and Construction

Management. It indicated that he has over 37 years of experience in core oil and gas operations in Nigeria and local content operations, notably onshore and offshore, Liquefied Natural Gas (LNG), Water Drilling, Treatment and Storage Facilities, Civil, Building & Dredging Engineering, and other construction. His experiences were said to be garnered in Nigeria, across Africa, Busan, South Korea and USA, where he worked in the Conceptions, Engineering Designs, Project and Construction Management to Commissioning Phases of projects. His work experiences, the statement said, include Chevron Corporation, where he held top positions in Nigeria and overseas, before he retired voluntarily in June 2014, to go into private business. NCDMB explained that while at Chevron Nigeria Limited, Ogbe served as Construction Services Group Superintendent (EscravosWarri) and was responsible for in-house construction services requirements to support the Company Operations.

He equally served as Offshore Projects Manager, where he was responsible for all the Engineering designs, Planning and execution of Maintenance works and installation of new facilities to support productions in Chevron Nigeria Limited offshore locations. The statement maintained that other assignments he held in Chevron included Construction Manager (Lagos & Escravos-Warri), Escravos Gas Project (EGP-3B), where he was responsible for the fabrication and installation of various sizes of pipelines/flowlines in offshore and onshore locations in the Niger Delta. “In his early years, he served as Construction Superintendent responsible for Engineering Designs and Construction requirements, and also worked as the Cost Control Engineer and was responsible for all Facility Engineering Division Projects’ cost controls, budgeting and cash calls. “Ogbe is a member of the Nigerian Society of Engineers (NSE), Council of Registered Engineers, and American Institute of Civil Engineers, and is married with children,” it said.

to about N359 billion was yet to be recognised and captured in the corporation’s balance as at that time. “This is usually recorded in the last month of the financial year, December, before closing the books. Consequently, the corporation is projected to close with over N70 billion profits by December 2023 once the receipts from the sinking fund is reflected in its profit or loss account accordingly,” it added. It recalled that the CBN had conducted a special examination of 24 banks as a result of which critical intervention was required at that time. “It was after that exercise that the AMCON bill passed in June 2010 was signed into law by the President of the Federal Republic of Nigeria on July 19, 2010. “Since its enactment in 2010, the National Assembly has amended the AMCON Act thrice–in May 2015, July 2019, and November 2021 respectively to strengthen the powers of the corporation to deliver on its tough mandate of debt recovery. “For the records, AMCON purchased 12,743 NPLs or EBAs

worth N3.797 trillion from 22 Eligible Financial Institutions (EFIs) for a purchase price of N1.8 trillion. “ The purchases are covered by various collaterals. The corporation also injected a total sum of N2.2 trillion to 10 Banks – Bridged and Owned Banks (intervened banks) - bringing Net Book Value (NAV) to zero. AMCON capitalised three EFIs and provided financial accommodation to five,” it added. Explaining the funding model of the corporation, which it said confuses most people, Kuru stated that: “AMCON’s intervention activity was funded by debt obligation of N4.65 trillion (as at 31st December 2018), which is to be repaid, from internal and external sources, to the CBN by 2024. “It is worth knowing that at conception, it was envisaged that AMCON, being a loss minimisation entity would repay 30 per cent of the obligation, while the balance is expected from external recovery sources as provided in the AMCON Act,” he explained.

NNPC Mourns Ex-GMD, Alternate Chairman, Thomas John

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) yesterday mourned the death of its former Group Managing Director and Acting Alternate Chairman of the Board, Dr Thomas John. A statement by the Chief Corporate Communications Officer of the national oil company, Olufemi Soneye, said John died at the age of 84. The NNPC described John, its 5th GMD who succeeded the late Dr. Aret Adams from April 1990 to June 1992 as a

quintessential administrator and oil & gas industry professional. He was also a non-executive director, South Atlantic Petroleum (SAPETRO), Executive Chairman, Hydropec Engineering Services Ltd., and former non-executive director, United Bank for Africa (UBA) Plc., among other positions, the statement said. “On behalf of the entire NNPC Ltd., management and staff, the GCEO, Mr. Mele Kyari, extends the company's heartfelt condolences to his dear wife, family, friends and relatives during this very trying period,” the statement added.

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T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

SUPPORTING EXPORTS AND LOCAL MANUFACTURERS…

L-R: Minister of Finance, Federal Republic of Nigeria, Wale Edun,; Managing Director, British American Tobacco Nigeria, West and Central Africa, Yarub Al-Bahrani, and British American Tobacco Nigeria Advisory Board Chairman, Kola Karim, during a courtesy call to the minister's office in Abuja where he showcased his support for the private sector with keen focus on exports and local manufacturers to expand international trade opportunities... recently

Adelabu: Nigeria's Power Sector Policies Obsolete, Need Reworking

Emmanuel Addeh in Abuja

The federal government yesterday said that the current policies being implemented in the power sector were obsolete and would require rejigging to fit into the country’s current realities. Speaking in Abuja at the close of a three-day summit with industry players on the way forward for Nigeria’s beleaguered power sector, the Minister of Power, Chief Adebayo Adelabu, stressed that Nigeria was still deploying the policies enacted under the Olusegun Obasanjo government in 2001. The retreat, the federal government said, was a first step

towards the establishment of the Integrated National Electricity Policy and Strategic Implementation Plan as required by the Electricity Act, 2023. “We need to revise the policies in the sector. The policies we are using now are already obsolete, they are outdated. These are the policies promulgated in 2001. So, they need a revision and that’s what we are doing. “This will help in the transformation of all the segments of the power sector, including in gas supply to generating companies as well as for transmission services and the independent system operators to accelerate the performance of the Transmission

Company of Nigeria (TCN). “And most importantly are the Distribution Companies (Discos) which are actually the last mile in this value chain. They are the ones that ensure power gets to the doorsteps of the consumers. “If they are not involved , then our efforts to transform this sector will be a joke. So, we know that the Discos have a major role to play, which we are going to treat,” the minister said. He said that though the challenges were daunting, they will be faced with all the courage required, explaining that in January, the consumer segment of the consultations will be held. “There are issues of infrastructure

investments, issues of metering gap, issues of power assets vandalism, of power theft and issues of collection difficulties. “We are going to face all these issues. The liquidity which this industry has been deprived of will be realised. We will ensure that we minimise the Aggregate Technical, Commercial and Collection (ATC&C) losses of the Discos so that a substantial portion of generated power is transmitted and distributed to customers,” he added. According to Adelabu, when there’s a boost in liquidity, then investment made by stakeholders can be realised. He stated that while the rejigging

Maida: NCC Will Not Dictate Technology Solutions to Telecoms Licensees

Emmanuel Addeh in Abuja and Emma Okonji in Lagos

Executive Vice Chairman of the Nigerian Communications Commission (NCC), Aminu Maida, has said the organisation upholds the principle of technology neutrality in the regulation of the telecoms industry and won’t dictate any technology solution to its licensees. Technology neutrality is a principle in which service providers licensed to provide services are at liberty to adopt any technology for cost-effective deployment of services with no let or hindrance. Maida re-echoed the technologyneutrality principle of the commission when a delegation from the United States Agency for International Development (USAID) Nigeria Power Sector programme (NPSP) visited him at NCC’s head office in Abuja recently. He said that the commission remains a technology-neutral regulatory agency, established to regulate competition and not to determine what technology solution its licensees must deploy to power their operations. “The primary responsibility of NCC is to ensure effective competition among licensees in a way that guarantees the delivery of qualitative service that produces high quality

of experience and value for money for the consumers,” Maida said. “The operators are at liberty to adopt any type of power technology they think that is good, and costeffective to keep their operations at optimal performance in meeting the quality of service Key Performance Indicators (KPIs) set by the Commission,” the EVC added. Maida said, however, that the commission was open to innovative ideas that support reduction in cost of operations for the licensees and guarantees delivery of improved services for their business sustainability. The NPSP is an initiative of USAID aimed at powering African countries with alternative source of electricity, such as greener, solar, renewable energy, to support the growth of their economies. The USAID NPSP team was led by its Chief of Party, Tunde Gbajumo, who told the EVC that the purpose of their visit was to advance discussion on telecom electrification through renewable energy, which, he said, falls under the purview of the commission as the sector’s regulator. Gbajumo said the team had been working with Rural Electrification Agency (REA), investors and user organisations for the purpose of improving the power sector

in Nigeria through provision of technical support to key actors in the Nigerian economy to nudge the adoption of renewable energy. According to him, realising how demanding power supply is to the

telecommunications sector, “USAID NPSP is proposing to work more with the NCC on sustainability models of renewable energy to support the digital economy sector in Nigeria.”

of the policies are ongoing, work will not stop in any of the segments of the value chain, stressing that the consultation will throw up a set of workable industry policies that will be accepted by all stakeholders. “This will ensure that we have an enduring policy framework in the industry . It is a continuous process. It’s not something we can finish in one day,” Adelabu added. After the consultations, the minister said the government will come up with a strategic implementation plan that the entire industry will buy into, thereby making it a permanent document. According to the minister, the coverage of the document will range from technical to regulations as well as human capacity development. “For us to achieve our vision for the power industry, it must be executed by people with competence,” he stressed. With the planned involvement of states in the power sector as a result of the new power sector law, he noted that the government technocrats must be ready to up their game to provide oversight for the industry.

To ensure that work progresses as planned, the minister promised to get approvals from the president, the federal executive council, and other bodies where necessary. He lauded the gathering for the enthusiasm displayed during the three days of brainstorming, stressing that it showed patriotism and the passion to make things work in Nigeria. In his remarks, the Permanent Secretary, Ministry of Power, Mr Temitope Fashedemi, explained that the ministry exists as an enabler of economic growth and to deliver functional and affordable electricity nationwide. He noted that companies operating in the power sector should look beyond just their immediate gains and look at the bigger picture as the nation seeks to transform the power sector. “So once you step away from that side where you are only looking for the interest of your investment or the interest of your company, to help Mr. President to achieve this thing for the country, then you will begin to see that your reasoning changes,” he pointed out.

Itakpe Iron Ore Concession: NASS to Probe $496m Payment to Indian Firm Sunday Aborisade in Abuja The National Assembly Joint Committee on Steel Development on Thursday passed a resolution to probe the $496m paid by the federal government to an Indian firm which failed to revitalize the Itakpe Iron Ore Company after three years. The Global Infrastructure Holding Ltd. (GIHL) took over the National Iron Ore Mining Company (NIOMCO), Itakpe, Kogi State, in 2016, and got its agreement terminated in 2019 due to non-performance. GIHL dragged the federal government to court for breach of contract and it was awarded damages to the tune of $496m which had been paid. The failed concession agreement came to the fore on Thursday when

the Minister of Steel Development, Shuaibu Abubakar Audu, led officials of his ministry to the National Assembly to defend his 2024 budget. Audu told the panel that the concession was terminated because the concessionaire was not living up to expectations. He said: "The firm was supposed to be producing iron ore and transfer it to Ajaokuta for steel development but it was busy exporting the commodity. "Before the exit of the last administration, the federal government went through litigation and settlement was reached. "The federal government paid $496m to the Indian firm for breach of agreement." He, however said President Bola Tinubu had asked him to revive the two steel Firms in Itakpe and

Ajaokuta. Audu said: "Historically, iron ore used to be produced in Itakpe. They have a lot of staff that were producing iron ore. Some of the production lines in Ajaokuta were also working. "We are still paying the staff there because the agreement has been terminated." Audu's submissions infuriated a member of the Committee, Senator Natasha Akpoti Uduaghan who queried the rationale for paying N1.5bn annually to the staff of a firm that had been concessioned. Akpoti Uduaghan also wondered why the termination of agreement was done in private without the public being aware of it. She also asked whether there was penalty for the breach of agreement by the Indian firm, because it was

on the wrong side of the law. She demanded for details of the litigation and urged the committee to probe the entire concessioned deal. She said: "The Indian firm could not perform; they denied Nigerians, access to the iron ore company for three years. "Instead of them being penalized, for depriving Nigeria, it's social and economic growth; we compensated them further by paying them $469m. "This committee would like to see the court papers that penalized Nigeria. "Mr. Chairman (of the Committee) let us concentrate on the budget defence now and organise a public hearing on it later. "This is because we cannot continue to enrich some people at the detriment of our dear country."

T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

GRAND PATRON OF THE NATIONAL COUNCIL FOR WOMEN SOCIETIES...

L-R: Wife of the Vice President, Hajia Nana Shettima; First Lady Senator Oluremi Tinubu; and Wife of the Speaker Hajia Fatima Tajudeen Abbas, during the decoration of the First Lady as Grand Patron of the National Council for Women Societies (NCWS) of Nigeria at the Banquet Hall at the Presidential Villa in Abuja.... yesterday GODWIN OMOIGUI

AfDB: African Countries Lose Almost $90bn in Illicit Financial Flows Annually Ugo Aliogo The Chief Economist and Vice President, African Development Bank (AfDB), Prof. Kevin Urama, has stated that African countries lose almost $90 billion in Illicit Financial Flows (IFFs) annually. According to him, much more is lost in illicit resource flows and resource theft, poorly implemented fiscal policy incentives, and excessive dependence on commodity exports for foreign exchange earnings. He also stated that the leakage exposes countries to highly volatile global market prices and highly vulnerable supply chains. Urama stated this yesterday in Abuja at the graduation ceremony of the first cohort of the Public Finance Management Academy for Africa (PFMA). He revealed that in 2021, the bank approved a capacity development strategy, a strategy for economic governance in Africa, a framework for the management

of illicit financial flows, and a multidimensional action plan for the mitigation of debt distress in Africa. The AFDB Group vice president remarked that the bank launched a programme to produce a Public Service Delivery Index (PSDI) to provide an independent and standardised index for assessing the delivery of public services by public servants. He added that the goal is to work with partners to establish a prize to incentivise improvements in the management of public resources and deliver improved quality of public services to countries. Speaking on the PFMA, Urama averred that the programme was approved in June 2022 by the board of directors of the bank, stating that the PFMA is designed to deliver high-level structured capacity development to African countries on public financial management. In his remarks, the Special Adviser to the President on Economic Affairs, Dr. Tope Fasua,

2024 Budget: Kefas Proposes to Spend 64.1% on Capital Expenditure Wole Ayodele in Jalingo In a departure from predecessor administrations, Governor Agbu Kefas of Taraba State is committed to spend over 64% of the 2024 Budget on capital expenditure. This was disclosed at a joint briefing by the Commissioners for Information and Re-Orientation, Finance and Justice, at the end of a marathon executive council meeting where the budget proposals were ratified. According to the Commissioner for Finance, a total sum of three hundred and eleven billion, three hundred and eighty-eight million, five hundred and twenty-five thousand, six hundred and twenty-one Naira ninety-six Kobo (N311,388,525,621.96k) would be presented to the State House of Assembly as 2024 Appropriation Bill. Based on the budget proposals, recurrent expenditure, which used to gulp the biggest proportion of previous budgets, would only gulp 35.9% which according to the Commissioner for Finance, Barr Zainab Jalingo, is an indication of the governor's resolve and

commitment to reverse the underdevelopment of the state. According to her "this is the first time in the history of Taraba State that 64.1% of annual budget would be voted for capital expenditure and this is a strong message by Governor Agbu Kefas to the people of the state that he's determined to reverse the underdevelopment that has characterized the state." Besides that, five key areas that represents the five fingers of development enunciated by the governor has been prioritized. These are Education, Health, Security and Agriculture as well as Infrastructure. She further revealed that unlike previous years, the 2024 budget would be financed significantly with internally generated revenue which is expected to rise by over 400% in the coming year. She expressed the commitment of Governor Kefas to ensuring large scale investments in education in his bid to revamp the educational sector particularly addressing the frightening number of out-of-school children in the state.

stated that public financial and debt management remains on the front burner of the federal government’s agenda. He disclosed that key economic policy objectives of the government include optimisation of revenue mobilisation and tax reforms, blocking of leakages in public finances, improving public procurement and spending efficiency, and supporting the ease of doing business environment for

private sector investments and job creation. “The PFMA is an implementation activity of the African Development Bank Group’s programmes to strengthen the capacity of African countries in economic governance and knowledge management to enhance wealth creation, prudential management of public finances to improve the quality of lives for Africans. The rationale for focusing on the PFM is obvious. Africa is

natural resource rich and often cash poor. “Several studies have attributed this to poor management of public resources-from ineffective mobilisation and use of domestic revenue, unsustainable borrowing and lack of prudence in the use of debt resources, illicit financial and resource flows, resource theft, among others forms of leakages and corruption along the PFM ecosystems in countries.

“The first cohort of 145 public officials nominated by 45 African countries commenced the 18-month structured capacity development programme in July 2022. “Of these, 52 public officials from 26 countries have successfully completed the programme and satisfied the conditions to be certified by the bank group and partners as PFM experts in their respective countries,” he stated.

NASS Halts N’Delta Budget Consideration, Accuses Minister of Poor Performance

Sunday Aborisade in Abuja

The joint committee of the National Assembly (NASS) on Niger Delta Affairs yesterday, halted further consideration of the 2024 budget of the Ministry of Niger Delta over alleged poor performances. The federal lawmakers described the ministry as the “lowestperforming Ministry, Department and Agency (MDA) in terms of budget implementation.” The ministry recorded 37 per cent capital budget implementation in 2023, with a little over N4 billion released for its services in the year. The disclosures were made in Abuja, when the Minister of Niger Delta Development. Hon Abubakar Momoh, appeared before the panel to defend the 2024 estimates of the ministry. The lawmakers grilled the minister for about one hour. A report before the committee indicated that up to 200 “abandoned” or poorly-funded projects dot various locations in the nine Niger Delta states, some dating back to 2915. For instance, the Co-chairman of

the Committee in the Senate, Sen. Babajide Ipinsagba, told the session that over 49 of such projects had been appearing in the budget of the ministry since 2022. He said a paltry sum was allocated with the full knowledge that the money would make no impact. The Co-chairman from the House, Hon. Ugonna Uzurigbo, agreeing with Ipinsagba, noted that he had hardly seen a minister of Niger Delta inaugurating a new project in recent years. He said, “This is the lowest performance by an MDA, 37 per cent. This is the lowest. I have not seen the minister of Niger Delta commissioning projects. “Your procurement and finance department has to be up and doing to speed up processing. Other MDAs are making progress. "They are implementing 80 per cent and much more, and they all follow the same procurement process. “Even in your 2024 budget, there is no difference…You have projects dating back to 2015 that have not been executed.”

The ministry had a budget proposal of N21.2 billion for 2024, out of which N18.066 billion was earmarked for capital projects, an amount lawmakers feared could be merely spread across projects in “pittance” and later abandoned without achieving any meaningful objectives. The minister, Abubakar Momoh, while responding to the questions raised by the lawmakers, blamed the problems of the ministry largely on non-release of allocations by the Ministry of Finance. He told the committee that the allocations were not only inadequate, but were also not released as expected to make way for the execution of projects, saying “37% performance is low; I agree. I also agree that lack of releases caused the issues with this performance”, Momoh said. However, the minister argued that because 2023 was a “transition year”, he didn't expect that his predecessors would do much as their attention was more focused on preparing to exit the office. “This is a transition year, and

performance is usually low. I can assure you that this will not happen in 2024 when we are fully on board. We came on board in August; we are just about three months in the office. “All the projects that we have for the 2024 budget, I will pursue them to completion,” he told the committee. Momoh, said he could not put a date to when ongoing projects by the ministry would be completed because it all depended on when funds would be available. But, not satisfied with his explanations, the committee, through a motion moved by Sen. Seriake Dickson (PDP, Bayelsa State), invited the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. The panel also summoned the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, to appear before it to speak on the inadequate budgeting and releases for the Niger Delta ministry. Momoh, was also directed to accompany Edun and Bagudu to the next session of the committee.

World Behind on Devt Goals with Only 15% Success, Say UN SDGs Advocates Emmanuel Addeh in Abuja

The United Nations Sustainable Development Goals (SDG) Advocates yesterday at COP28, outlined what it termed important steps needed for a path that will achieve the goals and deliver climate justice. The group noted that only 15 per cent of the SDG targets was on track , call on the negotiators here in Dubai

to address the fundamental drivers of the social, environmental and economic injustices that aggravate the climate emergency. “We are way behind with only 15 per cent of the targets on track. This alarm rings louder here at COP28 when we address our failure to secure life on our planet and in halting the crises that affects half of humanity.

“Unfortunately, the reality is that we, the peoples of this complex world, do not all have the same technological or financial capacities to face such impacts and rebuild our lives, livelihoods and economies after they have been impacted by extreme weather phenomena. “We must resist the false assumption that all countries and people’s experiences are the same

– and should respond to -- climate change in the same way,” the group stated. The group called on the negotiators in Dubai to address the fundamental drivers of the social, environmental and economic injustices that aggravate the climate emergency, and perpetuate the cycle of inequalities between peoples and nations.

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T H I S D AY • FRIDAY, DECEMBER 15, 2023

FOCUS

With Hong Kong Licence, Wigwe Reinforces His Expansionist Drive

Donatus Eleko

he Group Managing Director of Access Holdings, Mr. Hebert Wigwe appears not about to slowdown anytime soon. This is because from a string of expansion across the African continent and Europe, recently received approval to commence operations in Hong Kong. From Nigeria to Rwanda, South Africa, Mozambique, Kenya, Zambia, United Kingdom, among several other countries as well as setting up what could be described as one of the best universities in Africa, the expansionist adrenaline in Wigwe has remained on the rise. Also recently, Access Bank entered into acquisition agreements with Standard Chartered Bank, for the acquisition of the latter’s shareholding in its subsidiaries in Angola, Cameroon, The Gambia, and Sierra Leone, and its Consumer, Private & Business Banking business in Tanzania. In a significant milestone towards realising its five-year strategic plan, Access Bank UK, the wholly owned subsidiary of Access Bank Plc announced that it has received approval to commence operations in Hong Kong. The approval, granted by the Hong Kong Monetary Authority, through Access Bank’s UK subsidiary, was as a testament to the Access Group’s international capabilities and strategic partnerships. Furthermore, Access Bank’s commitment to a global presence and adherence to the highest regulatory standards is underscored by the decade-long effort to secure the license for operations in the sophisticated and tightly regulated market of Hong Kong. Wigwe, who expressed his excitement and pride in achieving the long-awaited goal said, “I am immensely proud that Access UK has secured approval to commence formal banking operations in Hong Kong, marking a monumental achievement in our journey towards global prominence. This licence is a testament to our unwavering commitment, strategic foresight, and resilience over the past decade. Across the Access Group, we are excited about the possibilities that lie ahead. “Hong Kong serves as a strategic cornerstone in our mission to be the world’s most respected African bank and we are ready to bring innovative, customer-centric financial solutions to the Asian market. We look forward to the opportunities and challenges that come with expanding our footprint in this dynamic international arena.” With plans to commence operations in the coming year, the achievement reflects Access Group’s international capabilities and the strength of its strategic partnerships, scaled through the growing strength of its international operations through Access Bank UK, with regulated operations in the UAE, and Paris. The establishment of Access in the Hong Kong market holds immense strategic potential for boosting cross-continental trade. Hong Kong, renowned for its status as a global financial hub, serves as a pivotal gateway connecting Asia with the rest of the world. Hong Kong’s Gross Domestic Product (GDP) grew by 4.1 per cent yearon-year in real terms in the third quarter of 2023, having increased by 2.9 per cent in the first quarter and 1.5 per cent in the second quarter. The value of retail sales, in nominal terms, increased by 13 per cent year-on-year in September 2023. The value is provisionally estimated to have increased by 18.6% year-on-year for the first nine months of 2023. Hong Kong’s labour market continued improving between August-October 2023 as the economy continued to recover. The seasonally adjusted unemployment

Wigwe

rate stayed low at 2.9 per cent for the period between August-October 2023, similar as the level of July-September 2023 (2.8%). Also, merchandise exports decreased by 5.3 per cent year-on-year in September 2023, but increased by 1.4 per cent in October, marking an end to a 17-month contraction, and exports decline narrowed to 11 per cent year-on-year for the first ten months of 2023. Hong Kong is one of the most servicesoriented economy in the world, with services sectors accounting for 93.4 per cent of its GDP in 2022. According to World Trade Organisation (WTO), Hong Kong is the world’s 10th largest exporter of merchandise trade in 2022. According to the UNCTAD World Investment Report 2023, global FDI inflows to Hong Kong amounted to $117.7 billion in 2022, ranked fourth globally, behind the United States (US$285.1 billion), Mainland China (US$189.1 billion) and Singapore (US$ 141.2 billion). In terms of FDI outflows, Hong Kong ranked seventh globally with $103.6billion. The top three were the United States (US$373.0 billion), Japan (US$161.5 billion) and China (US$146.5 billion). In terms of FDI stock, Hong Kong was the world’s fifth largest host with US$2,090.6 billion, after the United States, the Netherlands, the Mainland China and the United Kingdom, and the world’s 5th

largest investor with US$2,054.6 billion in 2022. Additionally, according to a triennial survey conducted by the Bank for International Settlements, Hong Kong is the second largest foreign exchange market in Asia and the 4th largest in the world in 2022, with the average daily turnover of forex transactions increasing by 9.8 per cent from US$632.1 billion in April 2019 to US$694.4 billion in April 2022. Similarly, as at the end of March 2023, Hong Kong’s stock market ranked the fourth largest in Asia and the seventh largest in the world, with the total market capitalisation reaching US$4.7 trillion. As of December 2022, Hong Kong was also the fourth largest IPO fundraising market in the world, with US$12.7 billion raised through IPO in 2021. Hong Kong is an important banking and financial centre in the Asia Pacific. Hong Kong is the 4th leading global financial centre, according to the Global Financial Centre Index (33rd edition, Mar 2023). The above statistics clearly showed how strategic the decision by Access Bank to expand to the country. Access Bank’s presence in this sophisticated market positions it strategically to facilitate and enhance cross-border trade between Africa and Asia. With its commitment to providing innovative financial solutions, Access would play a

“We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets.”

vital role in supporting businesses and investors involved in international trade. Furthermore, the Bank’s expertise and global network will not only streamline financial transactions but also foster economic collaboration between African and Asian enterprises. Access Bank UK, a wholly owned subsidiary of Access Bank Plc is authorised by the Prudential Regulatory Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority, with a Dubai branch that is regulated by Dubai Financial Services Authority (DFSA), and a Paris branch that is regulated by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 20 countries and over 60 million customers. The Bank employs over 28,000 thousand people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE. Access Bank’s parent company, Access Holdings Plc, has been listed on the stock exchange in Nigeria since 1998. The bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. Over the years, Access Holdings, under the leadership of Wigwe has developed initiatives aimed at developing the continent’s economic and social ecosystems across diverse touchpoints. Having identified the immense opportunity in playing at the global stage, Access Bank felt the next thing to do was to transit to a more formidable structure. That led Access Holdings to be restructured into an ecosystem orchestrator involving five verticals – the bank (Access Bank), Lending Company (LendCo), Payment Company (PayCo), Insurance and Pensions. From a tiny bank in 2002, Wigwe who took over from his close friend and business partner, Aigboje Aig-Imoukhuede, in 2014, has transformed the bank and today, he has moved up to be overseeing the holdco. Despite that, he has remained relentless. Today, it is one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network; a feat which has been achieved through a robust long-term approach to client solutions – providing committed and innovative advice. “We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets. “The approach would always be that in the country we wish to go to, that we have the right skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present. “In doing this, we are also mindful of the country we are going to so as to make sure that it is of benefit to the bank. As we do this, we are working with our friends and partners. “We are diversifying our earnings away from volatile markets as well and we are orchestrating our operations from the global payments gateway and ensuring that using Access Bank UK, providing corresponding services from digital platforms, the overall profitability of our franchise,” he had explained. From the foregoing, it is expected that the bank’s aggressive expansion drive would further diversify its earnings and see it delivering increased value to its investors and other stakeholders.

T H I S D AY • FRIday DECEMBER 15, 2023

Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sms only

Dickson’s Unshaking Love for Ijaw Nation

Ikeddy Isiguzo writes that Nigerians beyond Bayelsa State and the Ijaw nation have continued to applaud the maturity and leadership of former Governor Seriake Dickson, now a Senator, in managing the transitions in his home state different from the tensions being raised between former Governors and their successors in other states.

ickson has been exceptional and exemplary. His distance and non-interference in the running of the State’s affairs, makes Governor Douye Diri the freest Governor in Nigeria. His freedom to associate even with the political opponents of his benefactor is unusual in this clime. Against the machinations of those who do not mean well for the State, and the Peoples Democratic Party (PDP), Senator Dickson mobilised his massive support that led to PDP’s landslide victory in the November, 2023 governorship election. Dickson’s endorsement of Governor Diri at his country home prevented defection and gave clear direction of where the people should vote. From that day the opposition knew that it had lost the election. The victory confirmed Dickson’s place in the people’s hearts and reaffirmed a more disturbing fact to those who oppose him – any party interested in taking Bayelsa State in an election, must resolve the Dickson question. Four years after leaving office as Governor, Dickson has remained the main issue in Bayelsa State politics with his inspirational influence anchored in the other five States where Ijaw communities benefitted from his initiatives that united the Ijaw Nation. He has been one of the outstanding arrowheads of the Ijaw emancipation movement, following the footsteps of Chief Harold Dappa Biriye, Isaac Adaka Boro, Chief Melford Okilo, Pa Edwin Clark, Chief Diepreye Alamieyeseigha, the first civilian Governor of Bayelsa State, and others. Dickson spent his eight-year tenure as the Governor in mobilising Ijaws in the six States that they are found to emphasise their issues, assert their place in Nigeria, and prepare them for leadership through education, dedication to promoting their identity with his leadership style that commanded attention and national respect. He held the fort without compromising. Winning the elections in the State in 2015 and 2019 despite everything that the All Progressives Congress (APC) did, indicated his hold on Bayelsa State, really the people’s appreciation for his great performances in various areas that touched their lives. His strong followership testifies to the regard the people have for him. They fondly call him the Ofuruma Pepe, the Great White Shark. Naturally, as one whose political views have decisive impact in the State, the Ijaw Nation and beyond, he has been a favourite target of those who feel he threatens their ambitions. Those who want a weakened and divided Ijaw Nation see him as a galvanizer of Ijaws, particularly now that Pa Clark is ageing. The purposes of the attacks are simple – demonise Dickson, distract the Ijaws, destroy the unity that have. No Governor of Bayelsa State has done as much as Dickson did, and is still doing for the promotion of Ijaws as a people, no matter their state of origin. None has invested resources in raising the profile of Ijaws through education as he has. None has envisioned and executed the quantity and quality of programmes, policies, and projects that he established in Bayelsa State. They are still running after he left office. Dickson set Bayelsa State and Ijaws on a discernible path of self-discovery and development away from the lazy debates about which part of the Ijaw Nation one was from. He resolved that Bayelsa was the Ijaw homeland, including Ijaws in the other five States of Cross River, Edo, Delta, Ondo, and Rivers. He created the Ministry of Ijaw National Affairs. The first Commissioner of that Ministry was an Ijaw from Delta State. Is Dickson the one anyone would under any guise describe as dividing Ijaws? Did he do that by appointing more than 100 Ijaws from States outside Bayelsa into the Ministry of Ijaw National Affairs? Scholarships and employment opportunities in Bayelsa State were also available to Ijaws from those states. The Bayelsa State flag, Coat of Arms and an anthem or state song were among Dickson’s

efforts at establishing the place of the Ijaws. Some States have since followed his leadership after the debates about the propriety of the flag, coat of arm, and state song. Some of policies of the Dickson administration that lifted the Ijaw Nation were: . The Bayelsa International Airport, the first

in the Ijaw Nation which opened up the State for business. . Ijaw National Academy, the flagship of his efforts on the intellectual front. Conceived as the premier secondary school in the Ijaw homeland, the standards were high. Excellence was a watchword and the facilities were top

notch. It was aimed at breeding new Ijaw leadership by producing the next set of intellectuals under the highly competitive settings that global standards demand. More than 1,500 students were on full scholarship. The beneficiaries were drawn from Ijaw communities of Rivers, Edo, Akwa Ibom, Ondo and Delta States. There was no discrimination against the students. They were Ijaws back to the homeland. .He awarded thousands of scholarships at home and abroad to Ijaws to enhance their competitiveness for opportunities. The Ijaw National Heroes Memorial Park to honour Ijaws who have excelled in public service to Nigeria while advancing the Ijaw struggle was another of Senator Dickson’s signature projects. By May 2013, he brought back the remains of Major Isaac Adaka Boro to Bayelsa to be buried and a befitting mausoleum was built in his memory at the Park. Late General Owoye Andrew Azazi, Ijaw Nation’s first four-star military General who served Nigeria as one-time Chief of Army Staff, Chief of Defence Staff and National Security Adviser was also buried at the Park and has a mausoleum built in his memory. Other prominent Ijaw icons who have been laid to rest or have mausoleums built to honour them at the Ijaw National Heroes Park are Chief Melford Okilo, Harold Dappa Biriye, Gabriel Okara, Rex Jim Lawson, Rear Admiral Bossman Soroh, Ernest Okoli, Reverend Ockiya, the first man to translate the Bible into Nembe Language and other associates of Major Isaac Adaka Boro. -Isiguzo writes from Abuja NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Politicians’ Presence at Western Delta Varsity’s Convocation

Allison Abanum writes about the recent convocation ceremony of Western Delta University in Oghara, Delta State, which was attended by academics, graduands as well as politicians across party divides.

he Western Delta University (WDU) held its 11th to 13th Convocation Ceremony on Saturday, December 2nd, 2023 in Oghara Town, Delta State. Oghara Town is one of the beautiful places you might want to see on your next visit to Delta State. The town is not just notable for its serenity and enjoyable atmosphere, or for being a hub of a number of educational institutions, among others, but also the home of many notable people of influence. Speaking of influence, Chief James Onanefe Ibori who was the visitor at the just concluded WDU convocation ceremony, is a force to reckon with on this note. The recent event saw dignitaries from all walks of life in attendance. People from various political, religious and cultural divides showed up to honour the invitation of the school. I arrived the town where the event was held on Friday, 1st December, to see the town bustling with life and activities. Nearly all the hotels in it had been fully booked, and it took the help of a friend who is a son of the soil to barely find a place to sink in my heels. I was told almost all the Hotels in the town had been booked a day before my arrival. The air was a mixture of excitement and anticipation for the coming ceremony. Why was this ceremony special, one might ask. Clearly, this is not the first time a convocation ceremony would be held in Nigeria but the difference is about who is involved and the impact of WDU on the lives of its students, the society and those connected to it. At the ceremony, political big wigs, revered monarchs, respected religious leaders, notable

academicians, were all present. It was equally amazing to see dignitaries from the Northern part of the country grace the occasion as well. On the list of great academic minds were Prof. Andy O. Egwunyenga, Vice Chancellor Delta State University Abraka, Prof. Sam Guobadia, Vice Chancellor, Benson Idahosa University, Prof. Lilian Salami, Vice Chancellor University of Benin, Prof. Emmanuel Achuenu, Rector Delta State Polytechnic, Ogwashi-Ukwu; among others were present, and duly represented in some cases. Royal fathers from all parts of Niger Delta, Christian Association of Nigeria (CAN) Chairman, Edo State Chapter, and other religious leaders of the Islamic faith were present as well. Political juggernauts including the NDDC Chairman, Mr Chiedu Ebie, Presidential Amnesty Programme cordinators, and the Speaker (duly represented) of the House of

Representatives, were in attendance. Icing on the cake was the attendance of the Emir of Zazzau, His Highness, Mallam Ahmed Nuhu Bamali, who was received by the Olu of Warri at the airport and awarded an honorary doctorate at the ceremony. The massive turn up by these dignitaries witnessed at the event is not unconnected with Chief James Ibori’s impact on the society as a past leader, the great value he has placed on human capacity development and his continued commitment to his vision of building youths who will become future leaders. We would recall that during his administration as Governor of Delta State, he set up prestigious institutions both in the health and educational sectors. The Oghara Teaching Hospital, for instance is one of those. During the ceremony, I observed that the school had an anthem (sung by the graduands), whose theme was centred on societal development and nation building, thereby communicating its vision. A vision which has already been set in motion of fulfilment through the delivery of quality education to its students. Other highlights of the event included the award of a doctorate degree to Dr (Mrs) Ajoritsedere Josephine Awosika, Mr Igho Okoteke and Mr Oritsedere Otubu. -Abanum is Strategic Communication and Documentation Assistant to Bayelsa State Governor NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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Friday December 15, 2023 Vol 27. No 10472

opinion@thisdaylive.com

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NATION-BUILDING: NIGERIA, IN DENIAL OF HISTORY Nation-building takes time, argues JOSHUA J. OMOJUWA

See page 21

NIGERIA AND THE HIV BURDEN

ISAAC IMOLE argues that other non-communicable diseases should be part of the standard treatment plan for people living with HIV

See page 21

EDITORIAL

DEALING WITH VISUAL IMPAIRMENT

The defection by 27 legislators loyal to the federal capital territory minister was a tactical error, writes BOLAJI ADEBIYI

NYESOM WIKE'S OWN GOAL

Hostilities resumed in Port-Harcourt earlier in the week with the defection from the Peoples Democratic Party to the All Progressives Congress by 27 members of the Rivers State House of Assembly loyal to Nyesom Wike, erstwhile governor of the state and minister of the Federal Capital Territory. It left Siminalayi Fubara, the embattled governor, with only four members, one having died some time ago. The state has a 32-member legislature. Just as it was thought Fubara was in trouble with more than two-thirds of the legislature required to remove him from office moving to the opposition party, he pulled stunts that left even his godfather bewildered. First, he obtained from a High Court of the state, an order restraining the defecting lawmakers and their factional speaker, Martins Amaehwule, from entering any place designated as the House of Assembly of the state. The order also recognised his ally, Eddison Ehie, as the speaker of the house. With the order, Ehie convened a meeting of the remaining four PDP legislators, which not only received Fubara’s 2024 financial estimates but also declared the seats of the 27 defectors vacant. Next, he reduced to rubbles the House of Assembly Complex. With these swift counter-offensives, Fubara, until now presumed to be a political novice, had picked up the gauntlet and signaled his intention to resist the bully of Wike, his estranged mentor. The erstwhile godfather had been mum since his godson reacted virulently to his harassment. As the polity awaits his next move, not a few social and legal analysts believe that the defection of the 27 legislators was a major tactical error by Wike in the power struggle in the state because it was a clear afront on Section 109 (1) (g) of the 1999 Constitution as altered. It states: “A member of a House of Assembly shall vacate his seat in the House if being a person whose election to the House of Assembly was sponsored by a political party, he becomes a member of another political party before the expiration of the period for which that House was elected. “Provided that his membership of the latter political party is not as a result of a division in the political party of which he was previously a member or of a merger of two or more political parties or factions by one of which he was previously sponsored…” Safe for unbridled recklessness actuated by over-reliance on impunity, it is difficult to appreciate how Wike, a

lawyer and avowed opponent of defection, would allow his allies to fall into this grave error, given not only the clear provision of the Constitution but also the plethora of case laws on its interpretation. The classical case on this matter is Ifedayo Abegunde vs Labour Party, where the Supreme Court ruled that except there was a division in the party, a member who decamped would lose their seat. Elected into the House of Representatives in 2007 on the platform of the Labour Party to represent Akure North and Akure South Federal Constituency, Abegunde crossed over to the Action Congress of Nigeria in 2011, claiming that his party in Ondo State had become polarised. The LP approached the Federal High Court in Abuja, which annulled his seat on the ground that he had lost the seat by shifting allegiance from the platform upon which he stood to obtain the seat. His appeal to the Court of Appeal was dismissed, making him appeal to the Supreme Court. Although it took 11 years for the matter to be finally disposed of by the apex court, the decisions of the lower court were upheld. The Supreme Court laid down the principle that votes cast by the electorate were for a party and could be transferred to another party. On the matter of the proviso in Section 68 (1) (g), which is impari material (similar) to Section 109 (1) (g), which exempts defection due to internal division, the apex court held that the division must be at the national level, and must be of such a grave nature as to divide the National Executive Committee to the extent that the party cannot function. Since the apex court’s decision in 2022,

all subsequent defectors have had their seats declared vacant by the courts. In March 2022, Senator Emmanuel Bwacha, representing Taraba South Senatorial District on the platform of PDP, was asked to vacate his seat by the Federal High Court Abuja when he defected to the APC. The court said the seat belonged to the PDP and could not be donated to the APC. When his colleague, Albert Akpan, representing Akwa North-east on the platform of PDP defected to the Young Progressives Party in January 2023, the same fate befell him. Both of them had failed to learn from the 2022 cases of the 16 members of Ebonyi State House of Assembly and 18 members of Cross Rivers State House of Assembly as well as two members of the House Representatives, who had defected with their governors Dave Umahi and Ben Ayade respectively from the PDP to the APC. The seats were unceremoniously declared vacant on the ground of the Supreme Court precedent even when the governors survived the judicial challenges to their defection because they were immunised by the Constitution. Although Wike’s allies in PortHarcourt claimed that the dispute over the national secretary of the PDP amounted to a division that justified their defection, it is clear this flew in the face of the principle laid by the Supreme Court on account of its flimsiness. However, the misstep has inflicted on Rivers State an absurd situation in which the state now has four legislators making legislative decisions pending the conduct of fresh elections into the 28 vacant seats. But this absurdity was envisaged by the drafters of the Constitution as Section 11 (4) provides for the National Assembly to take over the legislative duties of a state House of Assembly if the latter is unable to function. The question is whether the absurdity of only four of 32 members of the House of Assembly of Rivers State has rendered it impotent. Whichever way this proposition is resolved it hardly looks good for Wike as Fubara would remain in office, and will most likely consolidate his hold on power. His moves so far indicate that he is not acting alone. Among the Yoruba, anyone who is confronted by a toothless chicken must take heed. Adebiyi, executive editor of Western Post, is a member of the Editorial Board of THISDAY Newspapers

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Nation-building takes time, argues JOSHUA J. OMOJUWA

NATION-BUILDING: NIGERIA, IN DENIAL OF HISTORY Nigeria was never colonized. E shock you? This country was never colonized as much as you couldn’t colonize what never existed during most of the process of colonization. Nigeria could not have been colonized because it never even existed until 1897 and wasn’t a political entity until colonization was complete in 1914. The amalgamation was the first time ever the subjective political entity called Nigeria came into existence. It is not something to be emotional about, the British weren’t when they put it together. They were being pragmatic. The history of Nigeria as one political entity never existed until the 1st January, 1914. It was the consequence of the colonization of several independent political and geographical entities

that leading to 1914 existed individually, and by that year had become two British protectorates. When discussing and debating Nigeria, it is always crucial to have this in mind. However, there is a lot more to keep in mind than the technicalities of Nigeria’s colonization. Technicalities because, whilst it ultimately became a colonized country, it was colonized in bits, pieces, and units. These units happened to be in the geographical space that turned out to be Nigeria. Lagos could have been a country itself. It was colonized as an independent political entity in 1861. It could easily have evolved into independence as a country called Lagos. It was not until about 25 years later that the British annexed another political unit within what was within the Nigerian geographic area. Mind that it only turned out to be “Nigerian” in 1897. In 1886 the Yoruba states of Ibadan and the Ekiti Parapo – an alliance comprising Ife, Egba, Ijesa, Ekiti, etc., were colonized as one unit - under the guise of the British playing peacemaker. Again, it was an independent action between these states – as a unit – and the British government. They could, like Lagos, have gained independence years later as one country. Ijebu came under British control later and so did Oyo and by 1894, the British Lagos Colony had expanded to include these states. This Colony could have gained independence as either a country called Lagos or as different countries in their colonized forms. From 1861 to 1894, it took the British 33 years to colonize Lagos and these then independent Yoruba states. The British weren’t done. After several moves and military campaigns, the extraordinary empire that Usman dan Fodio brought together as a caliphate eventually fell to the British in 1903 with the killing of Caliph Attahiru at the Second Battle of Burmi. The north of what was to become Nigeria had come under British rule. It was called the Protectorate of Northern Nigeria. This protectorate could have gained independence as a country of its own. Borno was occupied in 1904 and brought into the protectorate. Borno itself could have emerged as a country of its own.

The British ran military campaigns elsewhere across the Nigerian area until they had every political and geographical until under control leading to the amalgamation of the Southern and Northern Protectorate to form a single colony — Nigeria — in 1914. Leading to this point, each of the territories that were colonized could have gained independence and become individual countries. Collectively, the Southern Nigerian protectorate could have become a separate country from the Northern protectorate, which itself could have evolved into an independent country. It took over half a century from the colonization of Lagos to the amalgamation of the Southern and Northern Protectorates of Nigeria. This reflects that the colonialism of the Nigerian area was long and arduous. It was also ruthless, brutal and bloody. It took about 53 years to eventually colonize the territories and political units within the Nigerian area. Nigeria is currently 63 years old since the British let go. That ought to give you an understanding of how long it took them to cook the country into being. It should also show us that it is impossible to treat this entity as one unit whilst hoping that it would attain its full potentials. It was not even colonized the same way. Whilst the various nation states had some dealings with one another engaging in trade, wars and even intermarriage relations, they were independent states. The British ran the colony as one political unit for about 46 years between 1914 and 1960 and then handed it to the people for self-governance. Whilst there were attempts by some actors for the British to grant independence to separate units of the country, an action that would have resulted into the independence of more than one country, the British instead left it as they amalgamated it; Nigeria. It is no surprise that the country has continued to storm ever since. The Biafra War happens to be the greatest reflection of its storming nature, but it is just one of the many consequences of bringing several nations and people to form one country without their agreement. However, we are here now. One nation, hopefully bound in Freedom, Peace, and Unity. Hopefully, because all of those terms remain dreams for the country and its people. It remains unfree from the pressures of its colonization; peace has remained elusive through its independent history, whilst its unity remains an imagination in the minds of those who wish better for it. Nigeria’s realities aren’t exceptional. It is exactly what happens when you force separate bodies into one unit. It is scientific and expected that there’d be a reaction. That we haven’t been able to meet these challenges is because we live in denial of what it is. When we come face to face with our history and where we are today, we can work out a path that guarantees true Freedom, Peace and Unity amidst the diversity we cannot and should indeed not do anything about. It should be a strength. We are one country and different people. Our histories, though eventually aligned by the British, have mostly been different through history. To build a just and united Nigeria, this is where we must start: accepting that nationbuilding takes time and that you cannot build in denial of its historical context. Omojuwa is chief strategist, Alpha Reach/ author, Digital Book Wealth

ISAAC IMOLE argues that other noncommunicable diseases should be part of the standard treatment plan for people living with HIV

NIGERIA AND THE HIV BURDEN Last week I was at an event that brought together academics, program managers, policymakers and national and global health experts to review data and trends in public health issues…the area of HIV and noncommunicable diseases to be exact. Now, here are some interesting statistics to lay the foundation for this piece. According to the Centre for Disease Control (CDC), Nigeria has the fourth highest HIV burden in the world, reporting over 1.9 million people living with the condition and over 190,000 new infections every year. Out of the number, over one million are presently on life-saving anti-retroviral treatment. HIV (human immunodeficiency virus) as we know is a virus that attacks the body’s immune system. If HIV is not treated, it can lead to AIDS (acquired immunodeficiency syndrome). There is currently no effective cure. Once people get HIV, they have it for life. But with proper medical care, HIV can be controlled. People with HIV who get effective treatment can live long, healthy lives and protect their partners. Over the years, the successes recorded in identifying people living with HIV by partners and getting them on ARTs has meant that People Living with HIV (PLHIV) are now living longer and growing well into old age. According to the World Health Organisation, 11.2 million Nigerians are living with Diabetes Mellitus. One out of every 17 adults in Nigeria is living with the disease. Again, the WHO estimates that about 31/2% of Nigerians are presently living with hypertension. The prevalence of both conditions increases significantly among people aged 45 and above. Other common chronic NCDs which become more prevalent with age are cancers, cardiovascular and respiratory diseases, as well as renal diseases. Collectively, the WHO estimates that these are responsible for over 74% of deaths worldwide. The ART-aided longevity of PLHIV has brought about a new scenario where the coexistence of HIV and one or more other noncommunicable diseases such as hypertension and diabetes are becoming more common. Each of these conditions brings its unique challenges in the lives of those living with them and for PLWAs, having to contend with any of them is certainly going to be much tougher than for the average person on the street. For now, these conditions are being treated in silos. We all have people around us managing one or more of this NCDs and we know the toll they take. Imagine having to deal with those alongside HIV. But what if there is a better, more pragmatic, more integrated way. Let’s face it: aside from privacy concerns, understanding the medical history of a patient is critical to determining the right medication and treatment regimen for them. Managing co-morbidities of HIV and another NCD will be better handled in an integrated manner because it allows a 360-degree view of all the factors at play and optimal utilization of resources for the ultimate benefit of PLHIV. This basically was the crux of discussions by healthcare professionals, partners, and administrators last week when they converged under the auspices of the first Annual APIN Public Health Initiatives’ one-day symposium on ‘Integrating NCDs and HIV to ensure Long and Quality lives for People Living with HIV (PLHIV)’. The Chief Executive Officer of APIN, Dr Prosper Okonkwo had opined that the rapid

decline in mortality among PLHIV is one of the major benefits of expanding access to antiretroviral medication and that it was estimated that by 2030, 73 per cent of HIVinfected individuals will be over 50 years of age and 78 per cent of individuals living with HIV will have cardiovascular diseases. Given such a scenario, the need for an intentional national response is quite apparent. Integrating comorbidities should become part of the standard treatment plan for PLHIV. Interestingly, many NCDs that we grapple with today are a function of lifestyle choices influenced by economic development and urban living as pointed out by Dr Jerry Gwamna of the United States Center for Disease Control (US CDC) at the symposium. Are we now becoming victims of economic growth in our societies? The fact that many countries are reporting increases in life expectancy due to advances in medicine and increased healthcare coverage among younger populations sets up the scenario for a higher population of older people with attendant risks of age-related diseases listed earlier and the possibilities of the existence of the double burden of infectious diseases and NCDs. But his argument is strongly in support of the integrated approach. After all, it will discourage competition for the limited resources available for tackling health problems. Resources (manpower, funds, programs and medication) can be optimized where all efforts are harnessed and channeled in an integrated framework. This approach also helps expand coverage of health care for PLHIV and NCDs and would help Nigeria get closer to the attainment of Sustainable Development Goals (SDGs) and Universal Health Coverage (UHC). To do these successfully, meaningful stakeholder collaboration and partnership will need to be birthed and driven actively. Ideas, no matter how relevant and wellconceived, must be given life through the instrumentality of people, systems and institutions. Dr. Salma Anas-Kolo, Special Adviser to the President on Health spoke to this during the symposium, advocating for a conscious design and roll out of such an integration initiative as well as the need for a comprehensive service delivery approach to ensure that there is a link between the primary health care level, the secondary level of care and the tertiary level of care, knitting all into one delivery approach. Imole, a public commentator, writes from Abuja

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EDITORIAL

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

DEALING WITH VISUAL IMPAIRMENT The authorities could do more to stem the health challenge

ne of the most neglected health challenges in Nigeria is blindness, with reports suggesting that more than four million persons are visually impaired. The Resource Center for the Blind (RCB), a non-governmental organisation, recently called on government at all levels as well as corporate organisations to ensure inclusive opportunities for the visually impaired and people with special needs. “We can no longer turn a blind eye to poor vision. Blindness does not just exacerbate existing poverty in poor countries; it also causes people to become poor,” said RCB Director, Temitayo Ayinla-Omotola. However, with just about 700 ophthalmologists to a population of more than 200 million people against the World Health Organisation’s (WHO) recommendation of one to 50,000 people in developing countries, it is evident that Nigeria is seriously challenged. Yet, the visual impairment of one person, according to WHO, affects four other persons, which means that about 18 million Nigerians are either spending their productive hours as caregivers, or are unable to live quality lives because they have a blind family member to take care of. Also worrying is that several millions of others who are partially impaired are likely to go totally blind as well if nothing is done to address the burden. This is a problem for the authorities in the health sector. Sadly, many of these Nigerians are within the productive years, and will unlikely make ends meet for themselves and their families, a scenario that fuels a cycle poverty for themselves and the society. The real tragedy is that despite the worrying indices, Nigeria has not taken the public health challenge as a priority, as there are currently no special available healthcare interventions or social programmes against visual impairment, commonly caused by glaucoma, cataract, and trachoma. But the leading cause of visual impairment is uncorrected refractive

errors. With many of our health professionals relocating abroad due to the nature of our reward system, it is instructive that Egypt, a fellow African country, has 2,139 ophthalmologists for its population of 94 million, while South Africa with a population of 57 million has at least 342 ophthalmologists to cater for the eyes of its citizens. That Nigeria, which prides itself as the giant of Africa, and the biggest economy on the continent, has less than a thousand ophthalmologists per one million citizens, is disturbing. This therefore calls for urgent intervention from the federal and state governments, as well as healthcare stakeholders, including development partners. There is an urgent need to put up programmes that would ensure the requisite intervention the challenge of blindness deserves in the country. Specifically, government should establish a programme for blindness, just as it has done for Lassa fever, HIV, malaria, and tuberculosis. They should also put in place policies that would encourage doctors to major in eye care. With the disease known to have a close relationship with poverty and illiteracy, it should set up social intervention programmes to support treatment and management of the health challenge in persons affected. Of important consequences are the number of out-of-school children who will end up not getting proper education because they are blind and unable to learn; the inability of children to attend school because the bread winners of their homes, who should take them through school are blind and unable to earn money for their educational support. Nigerians should also do well to prevent risk factors associated with blindness, which include smoking, unhealthy diets and hygiene, direct sunlight, injuries to the eyes, among others. Since the situation we are in is that of emergency in the sector, we call for concerted efforts in dealing with the menace of blindness in our country.

Despite the worrying indices, Nigeria has not taken the public health challenge as a priority, as there are currently no special available healthcare interventions or social programmes against visual impairment T H I S D AY

EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, 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

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LETTERS NIGERIA AND PERILS OF GENDER-BASED VIOLENCE

It is imperative that Nigeria addresses the scourge of rape and gender-based violence with urgency and determination. Towards this, an annual international campaign,16 Days of Activism against Gender-Based Violence, which kicked off 25 November, the International Day for the Elimination of Violence against Women, ended 10 December; Human Rights Day. started in 1991, the Women’s Global Leadership Institute. It is used as an organizing strategy by individuals and organizations around the world to call for the prevention and elimination of violence against women and girls. Among many actions that showcased advocacy efforts, this year's campaign called on governments worldwide to share how they are investing in gender-based violence prevention. As we continue to raise awareness and advocate for change, it is important to recognize the collective responsibility we all have in addressing this issue. It is not enough to simply condemn violence against women and girls - we must actively work towards creating a society where such violence is no longer tolerated. This requires action from individuals, communities, and institutions to challenge harmful norms and promote equality and respect for all. It is not enough to be a bystander, we must actively stand up and speak out against violence and discrimination. Also, we continue to take action to end this pervasive issue, let's remember to stay

optimistic and hopeful that change is possible. It's easy to feel overwhelmed by the magnitude of the problem, but every small action we take towards creating a safer world for women and girls makes a difference. Whether it's educating ourselves and others, speaking out against injustice, or supporting organizations working to support survivors, our efforts are not in vain. Let's keep the momentum going and continue to advocate for a world where every woman and girl can live free from fear and violence. Together, we can create a future where equality and safety are the norm. Let's keep the conversation going and work towards a brighter, safer future for women and girls everywhere. Together, we can make a difference. It's important to remember that this fight doesn't end after these 16 days - it's an ongoing battle that requires continuous effort and dedication. Let us also take this time to reflect on the progress we've made and the work that still needs to be done. It's crucial to stand in solidarity with women and girls who have experienced violence, and to actively work towards creating safer and more inclusive communities for everyone. Let us use our voices and platforms to amplify the message that violence against women and girls is never acceptable. Together, we

can make a difference and create a world where everyone is treated with dignity and respect. Though the 16 days of activism against violence towards women and girls has gone, let's continue to stand up, speak out, and advocate for change. We must work together to create a world where every woman and girl can live free from all forms of violence. It's on all of us to make this a reality. Empowering women and ensuring gender equality is not just a goal but a necessity for a better world. When women are empowered and treated equally, not only do they thrive, but the entire community benefits. We need to continue to work towards creating a world where women and girls have equal opportunities and where their voices are heard and valued. This means providing access to education, healthcare, and economic opportunities, as well as ensuring that they are protected from violence and discrimination. Again, let's continue to stand up for women's rights and work towards a future where all women and girls can live free from violence and fear. Together, we can create a world where empowerment and equality are the norm, not the exception. Dr.Jumai Ahmadu, an Ag. Director, FCTA, is Founder of Helpline Foundation for the Needy

T H I S D AY • Friday, December 15, 2023

BUSINESSWORLD R A T E S

MONEY MARKET

A S

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REPO

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

08056356325

D e c e m b er

S & P INDEX

1 4 , 2 0 2 3

S & P INDEX

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11.25%

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19.12%

INDEX LEVEL

611.31%

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11.50%

1-MONTH

16.25%

1-DAY

0.03%

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0.48%

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3-MONTH

15.75%

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-0.7%

Air Travellers Livid over Rising Cost of Tickets as Demand Heightens

Chinedu Eze

Air travellers are outraged about the accelerating increase in airfares since October, occasioned by the Christmas season, a development that has deprived many Nigerians from travelling by air this Yuletide season. Travellers told THISDAY that prices of flight tickets have risen beyond what many they can afford with deteriorating economy and shrinking disposable income. Consequently, many Nigerians have resorted to travelling by road despite the poor road network in many parts and the country and the threat of insecurity. For instance, a clearing and forwarding agent at the Murtala Muhammed International Airport, Lagos who wanted to travel by air to Port Harcourt with his four

children and wife, told THISDAY that it had become a tradition to travel to Port Harcourt from Lagos by air every Christmas. He has been doing this for over 10 years, “But I cannot do the same thing this year because I cannot afford the airfares. In fact, the fares are far beyond my means now; so, I will have to look for alternative means because we must go home this Christmas.” Also, a Lagos based businessman, Chief Iyk Manuba, told THISDAY that he could not reconcile the economic reality of the high fares, coming at a time many Nigerians are struggling to cope with essential needs. “I find it challenging to comprehend the rationale behind the exorbitant local airfare in Nigeria. A one-hour trip can amount to as much as N150,000,

presenting a disheartening reality that the average Nigerian struggles to afford. When juxtaposed against established retail business models, this pricing structure appears unsustainable. The observed impact manifests in flight delays and consolidations, seemingly driven by the intention to maximize passenger numbers. Please let certain business decisions have a human face,” he said. However, sources at the Murtala Muhammed Airport, Lagos indicated that airfares have really increased but not as high as the fares are being reported on social media. Some of the fares circulated online seemed not to be in tandem with reality going by the published fares on domestic airline websites. Some online platform put fares from Lagos to Owerri, for example, as high as N400, 000.

As at Wednesday, December 13, 2023, the highest cost of ticket for economy class for one hour flight was N153, 000, while that of business class was N253, 000 and the fares were almost the same in Dana Air, Air Peace, Ibom Air and other domestic airlines. A protocol official who books flights for some companies at the domestic terminal of the Murtala Muhammed Airport, (MMA2), told THISDAY that fares start from N70, 000 and continue to rise till it peaked around N153 and suggested that fares would still increase as more travellers demand for flight tickets. “Airfares across airlines are almost the same. This is because this is high season and there is surge in demand. Fares graduate from N70, 000, N80, 000 and from there, peak at over N150,

000 because there are a lot of passengers and the surprising thing is that more people are buying the tickets. As at this moment, all flight to domestic destinations are full,” he said. But the Managing Director and CEO of Aero Contractors, Captain Ado Sanusi explained to THISDAY that what will tame the high fares will be the availability of more aircraft seats. He added that without increase in fleet by airlines, demand will continue to overstretch supply and fares will continue to climb higher, aided by the weak naira, high exchange rate and high cost of aviation fuel. He emphasised that there is no hope yet about aircraft leasing in Nigeria despite indications that the federal government might be willing to ensure that lessors recover their

aircraft when there is default. Sanusi said for Nigerian airlines to have access to new aircraft, government must be intentional about making funds available to Nigerian carriers through Bank of Industry or Manufacturing Bank. “I keep hearing that aircraft manufacturers will help Nigerian airlines to lease aircraft. Aircraft manufacturers are not leasing companies. They are only interested in selling their products. Airbus may come and say the same thing. Embraer may come and say the same thing. But if we are intentional as a country, to make aircraft available we should work with Bank of Industry or manufacturing bank to make funds available and domesticate leasing. The story continues online on

www.thisdaylive.com

Bank Directors Summit…

L-R: Chief Executive Officer, NGX Regulation Limited, Ms. Tinuade Awe; President, Compliance Institute, Nigeria, Mr. Pattison Boleigha; Chairman Polaris Bank Limited, Mr. M.K. Ahmad; Chairman Bank Directors Association of Nigeria (BDAN), Mr. Mustafa Chike-Obi; MD/CEO, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan and Executive Director, AMCON, Dr. Eberechukwu Uneze at the BDAN’s Summit/AGM in Abuja… recently

Consul General: LFZ Positioned to Attract Investments from U.S

Eromosele Abiodun

The United States Consul General, William Stevens, has state that the Lagos Free Zone (LFZ), is poised to attract increased foreign direct investments from the United States. Stevens stated this when he led a delegation from the United States Consulate on

comprehensive tour of companies and facilities within the Lagos Free Zone in Lagos. Stevens lauded the impressive and outstanding business relationship between Tolaram and US companies. According to him, through the opportunities at the Lagos Free Zone, investors from the United States of America have deepened

penetration in the Nigerian market by introducing world-class goods and services to Nigerians. He noted that the influx of investments from US companies would not only fortify the economic ties between Nigeria and the USA but also underscored the unique incentives offered by the Lagos Free Zone for US companies looking to establish a

robust presence in the Nigerian market. “It is amazing to see the partnership between Tolaram and US companies and the opportunities therein. We are constantly looking at how we can attract more American companies to this market both in terms of investment and trade,” he said. The Chief Executive Officer

of Lagos Free Zone, Dinesh Rathi echoed this sentiment, emphasizing that the Zone remains the preferred investment destination, showcasing worldclass infrastructure and enticing incentives for potential investors. During the delegation’s tour of companies within the Zone, Dinesh highlighted that LFZ provides the optimal environment

for conducting business, having effectively addressed regulatory permit challenges and infrastructural hurdles He underscored the Zone’s role in redefining the Ease of Doing Business in Nigeria, offering incentives and infrastructure that foster a conducive economic climate, thereby promoting trade and investment.

M a r k e t d ata A s at T h u r s d ay, D e c e m b e r 1 4 , 2 0 2 3 B ON D S Description Price Yield Change Updated Time (%) ^13.53 23-36, November 101.40 12.14 MAR-2025 00 2, 2023 ^12.50 22-12, November 99.00 13.00 JAN-2026 00 2, 2023 ^16.2884 November 108.14 13.23 -1,00 17-MAR-27 2, 2023 ^13.98 23November 99.81 14.02 -6,00 FEB-2028 2, 2023 ^14.55 26November 98.98 14.82 -5,00 APR-2029 2, 2023

BILLS

OTC F X F UTUR E S

CPS

Maturity

Discount Yield

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

1.80

Change (%) Updated Time November 0.00 2, 2023

Maturity

2.57

November 0.00 2, 2023

3.92

3.94

November 0.00 2, 2023

3.50

3.53

November 0.00 2, 2023

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

NTB 8-Feb24

4.39

4.45

November 0.00 2, 2023

NSDL CP IIB 23-NOV-23

Change Time Discount Yield (%) November 16.95 17.00 0.00 2, 2023 November 14.71 14.89 0.00 2, 2023 November 19.25 19.60 0.00 2, 2023 November 11.27 11.39 0.00 2, 2023 19.24

19.60

November 0.00 2, 2023

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

Date

November 2, 2023 November 2, 2023 November 2, 2023 November 2, 2023 November 2, 2023

Friday, December 15, 2023 • T H I S D AY

BUSINESSWORLD

Air watch

FAAN Assures Nigerians of Good Travel Experience at Yuletide The Federal Airports Authority of Nigeria (FAAN) has reassured the Nigerian public of a seamless and good travel experience during the Yuletide season. In a statement signed by the Director, Public Affairs and Consumer Protection, FAAN, Abdullahi YakubuFuntua, the authority highlighted its continuous efforts to enhance security measures, aiming to guarantee the safety of life and property for all travelers. The agency advised travelers to arrive at the airport well in advance to mitigate rush and avoid missing their flights, adding that international travelers should be at the airport three hours before departure, while local travelers should arrive two hours prior to their scheduled flights. To enhance the screening

process and improve the overall flying experience, FAAN said it has expanded the screening area at airports. FAAN warned that travelers should pack their luggage personally and not assist others with their belongings, adding that any assistance required should be directed to airport officials, and luggage should never be left unattended. The agency assured that a joint task force at the land side is diligently working to ensure the smooth flow of traffic. Travelers have been urged to park their vehicles properly at the designated car park to prevent towing. FAAN also emphasised the prohibition of engaging services from touts and strongly discouraged

bribery and extortion. It said “undercover staff” has been deployed to observe and report any acts of misdemeanors at the airports, with severe warnings issued by the former Managing Director of FAAN, Kabir Yusuf Muhammed to both staff and government agencies operating at the airports. The Authority also reminded passengers to adhere to rules and regulations concerning the carriage of prohibited items, liquids, and gels, urging them to use information desks available at all airports to process their flights. Extending its warm wishes to travellers for a pleasurable holiday season, FAAN said it remains committed to ensuring a safe and enjoyable travel experience for everyone.”

A i r Watch

Positioning Ibom Air as Future African Carrier

NIMET Calls for Synergy to Tackle Climate Change Impact The Nigerian Meteorological Agency (NiMet), has called for synergy to proactively combat the negative impacts of changing climate by providing actionable impact-based products and services toward mitigating the impact of these weather and climate extreme events on lives and property across the globe. This is just as participants from 16 African countries begin a two-weeks ‘Early Warning for All’ capacity building initiative

programme at the Regional Training Centre (RTC) at the Nimet Regional Headquarters in Oshodi, Lagos. The agency made the call while speaking at the Two Weeks Early Warning for All (EW4ALL) Initiative workshop organised by the World Meteorological Organisation (WMO) and Nigerian Meteorological Agency (NiMet), at the Regional Training Centre (RTC) in Lagos. NIMET said that WMO recognised Regional Institution

for capacity building, particularly in the West African Sub-region, adding that recent years have seen significant increases in the frequency and intensity of extreme weather and climate events globally, often leading to huge destruction of properties and loss of lives. These extreme events, he said, are linked to the changing climate, which the world is still grappling with ways to mitigate and provide effective adaptation mechanisms.

Air Peace Wins Best Airline for Customer Service

Air Peace has been conferred with the “Best Airline for Customer Service, West Africa” for 2023 at the Global Brand Awards. The Global Brand Awards, an annual event by Global Brands Magazine (GBM) based in England, strives to honour worldwide brands that distinguish themselves across diverse industries while ensuring that readers are up-to-date on pivotal trends in the realm of branding. Global Brands Magazine conducted an extensive evaluation

encompassing various criteria, such as passenger feedback, service quality, communication, staff courtesy and professionalism, safety and security, innovation in customer service among others. According to the organisers, Air Peace stands out prominently due to its excellent client support and therefore, well deserves Global Brands Magazine’s recognition. Commenting on winning the award, the Director Jay Reddy, said: “We are thrilled to acknowledge Air

Peace as the recipient of the ‘Best Airline for Customer Service in West Africa’ award. This achievement is a testament to Air Peace’s unwavering commitment to excellence, prioritizing passenger satisfaction, and setting a remarkable standard for the aviation industry in the region. Their dedication to delivering exceptional customer experiences has truly set them apart as a leader, and we congratulate Air Peace on this well-deserved recognition.”

Ethiopian Aviation Varsity Graduates over 600 Professionals Ethiopian Aviation University, the largest aviation center of excellence in Africa, has graduated 627 aviation professionals in a ceremony held at the newly upgraded Ethiopian Aviation University. The graduates were trainees in the University’s Pilot, Aircraft Maintenance Technician, Cabin Crew & Catering, and Commercial & Ground Services programs. In

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 Peter Uzoho (Energy) Ugo Aliogo (Development)

today’s graduation: 88 pilots, 125 aircraft technicians, 150 cabin crews and 264 commercial trainees begin the aviation career path. Congratulating the aviation professionals, Ethiopian Airlines Group CEO Mr. Mesfin Tasew said, “Human capital development is one of the key pillars in Ethiopian Airlines’ growth strategy. As the largest aviation center of excellence in the continent, we are keen to provide Africa with skilled aviation professionals. We are delighted to have graduates from other African nations in today’s ceremony and to add 228 male and 306 female

aviation professionals to the aviation world.” Ethiopian Aviation University has been accredited by Ethiopian Higher Education Relevance and Quality Agency to offer undergraduate and graduate degree programmes in various aviation and hospitality fields. Currently, the University offers various aviation courses such as BSc in Aeronautical Engineering, Aviation Maintenance Engineering, Aviation Management and Operations, BA in Tourism and Hospitality Management, and M.Sc. in Data Science, MBA in Aviation Management, among others.

itel Rebrands, Launches P55, 5G Smartphones in Nigeria itel, an entry level smartphone manufacturer, has rebranded the company’s identity with a new logo that reflects its true identity of a reliable and affordable smart life brand that is positioned to serve over 300 million families in the global emerging markets, including Nigeria. Speaking on the itel brand relaunch, which held in Lagos on Tuesday, its County Manager, Mr. Veeki Chen, said the new brand identity, which begins a new era for the smartphone company, replaces the existing logo whose current visual image is aging, having been used for more than 10 years. According to him, the new

logo would enhance the brand’s perception in line with the current changes in public and industrial design trends. “After 16 years of operations, itel is launching another set of smartphones called the itel P55 series, including the P55 5G smartphone, which is our first foray into the 5G world. The P55 series include: P55 Plus, P55 T, P55 5G and P55 Fast Charge. The innovative products re-affirms our commitment and dedication to community development through strategic collaborations. Our partnerships with Google and Airtel, further showcase our commitment to enhance use experiences,” Chen said.

Chinedu Eze During a tour of Ethiopia Aviation University in Addis Ababa in November 2023, this writer and other members of the team from Nigeria came into a class where over 30 students from Akwa Ibom State were being trained on aircraft maintenance by seasoned young instructors. What was particularly interesting about the beneficiaries of the training was the fact that these were young Nigerians between 18-25 years, the new generation of young men and women being groomed to take charge of the future in Nigeria’s aviation industry. This also showed the commitment of Akwa Ibom State in the development of aviation in Nigeria and this is one of the batches of the young people from the state who have been trained in different areas of aviation. Akwa Ibom, a sub-national whelped a vision to bring development to the state. It did not follow the beaten path, it carved a niche for itself by going into aviation, an area that is capital intensive, sensitive and very professional. As catalyst to economic development, the state wanted to create jobs for the citizens and also enhance air transport, which is the means investors and entrepreneurs, who are always on their toes, move. The target was the development of the state through investment in different sectors of the economy, including oil and gas, tourism and hospitality. The first civilian governor in 1999 after the military interregnum, Victor Attah, started by building an airport and initiated the development of a Maintenance, Repair and Overhaul (MRO) facility. He also started training the indigenes of the state in various areas of aviation. His successor, Senator Godswill Akpabio took over and continued with the same tradition, but the man who succeeded Akpabio took it a notch higher by establishing an airline, the Ibom Air. Within this period the state had established itself as a go to for aviation business, an airline, an MRO that will soon go on stream and high number of aviation personnel who are contributing to the sustenance and growth of air transport in Nigeria. As sequel to the continuous development of aviation in the state, last week Ibom Air welcomed its first of the 10 Airbus A220-300 it ordered from the largest aircraft manufacturer, Airbus. The aircraft with registration number 5N- CDA,landed at the Victor Attah International Airport, Uyo to the elation and excitement of everyone who waited to witness that momentous occasion. In a speech during the ceremony to welcome the aircraft, the Akwa Ibom Governor, Umo Bassey Eno said although the airline is owned 100 per cent by the State Government, but its growth in five years is as a result of professionalism and non- interference of government officials in the way the airline is run. He said that in line with what the airline has started in terms of route expansion to African destinations, it would in future open destinations in Eastern and Southern Africa. He said that government remained a continuum as he extolled the contribution of his predecessors, former governors Victor Attah, Senator Godswill

Akpabio and particularly thanked his immediate predecessor, former Governor Udo Emmanuel for representing the Government in Mirabel Canada when the aircraft was handed over to Ibom Air. Speaking earlier, Chairman of Ibom Air, Imeobasi Jacob, said it was exciting that a subnational was running a successful airline. Also Chairman of AkwaIbom Development Company Ennesette Udom assured the Governor and the people of the state that their investment is safe. CEO Ibom Air, Captain Mfon Udo, said in terms of manpower development that the 10 aircraft ordered would need no fewer than 80 pilots.He said each Airbus aircraft requires eight pilots hence the massive training of 20 pilots and 20 engineers in Akwa Ibom and disclosed that the aircraft type acquired by Ibom Air, the Airbus A220-300 would reduce carbon emissions, offers more seats than other regional jets, has increased range and has fuel efficiency savings up to 20 per cent. According to him, the aircraft delivery took off from Mirabel, Canada to Toulouse in France for eight hours 20 minutes. From Toulouse it flew to Abuja. “The economics of this aircraft is that anytime we fly this aircraft we save N1 million from fuel burn in one hour flight. We fly 2,800 flights per year and if you multiply this by N1 million, we save on average N2.8 billion in fuel alone.” He said the A220-300 aircraft type uses minimal fuel and 50% sustainable aviation fuel and 25% lower carbon emissions. Key highlights were the introduction of the pilots that flew the aircraft back from Mirabel, Canada to Toulouse, then Abuja and finally Uyo for the reception. Reacting to the delivery of the aircraft, travel expert and organiser of Akwaaba African Travel Market, Ambassador IkechiUko, told THISDAY that everything about the airline shows intentionality and vision, which they are unveiling as they grow the airline to a desired objective. “When I saw the young men and women they were training in Addis Ababa, Ethiopia, I was very happy. It gave me joy and hope about aviation industry in Nigeria. But it is only a state like Akwa Ibom can have the capacity to train that number of persons. No other airline can do that. I am happy they are doing it one step at a time. That is very impressive. We pray that things continue to progress as they are doing because one day the airline will become one of the leading players in Africa,” he said. Akwa Ibom may have borrowed a leaf from Ethiopia: no government officials interference in Ibom Air. The state is growing the aviation industry with similar dedication. Succeeding governors have retained the same philosophy and objective; so, Ibom Air may enjoy the same autonomous climate which Ethiopian Airlines is enjoying. When dedicated leaders share a commitment to a project and sell it to the citizens who buy it with the same enthusiasm, it becomes part of the culture. Aviation is now part of Akwa Ibom culture. In few years to come, aircraft engineers and pilots in Nigeria will predominately come from Akwa Ibom. The foundation for that good development is being laid.

T H I S D AY • Friday, December 15, 2023

BUSINESSWORLD

Interview

Fedotov: Digital Solutions Will Reduce Carbon Emissions, Boost Clean Technologies Senior Vice President, EMEA Region at AVEVA, Evgeny Fedotov, speaks about AVEVA’s participation in the just concluded COP28 and the role of digital solutions like Artificial Intelligence in attaining green future. Emma Okonji presents the excerpts: AVEVA participated fully at the just concluded COP28 in Dubai, United Arab Emirates (UAE). Can you share AVEVA’s vision on Environmental, Social and Corporate Governance (ESG) that was displayed at COP28? VEVA is committed to its vision on Environmental, Social and Corporate Governance (ESG). In our recent report, we were very proud to unveil the concrete steps we are taking to promote ESG in our organisations. We have also entrenched ESG in our leadership roles and in our managerial positions. We are partnering with some universities to make sure that ESG is entrenched across boards. We as a company, we are keen at driving inclusive culture and we have a strong leadership team that is driving our ESG vision to achieve a truly international business that we represent. For the environmental aspect of our ESG, we are working with specific industry players to achieve new ways of operations that will reduce the impact of environmental pollution.

Why has sustainability become very important

Fedotov for business growth and survival? Indeed, a lot of work has been done to make it clear to businesses that environmental factor is an important aspect of business. Governments globally have incentives and disincentives for businesses. Governments globally need to be reminded to inculcate sustainability model

into businesses, but more interestingly, the concensus in the just concluded COP28, was about self regulation, where many businesses need to be more proactive in defining their roles in environmentally friendly business. In this case, businesses are becoming more practical in finding solutions, regardless of the legislation that was introduced recently. Businesses are looking for practical examples on how they can drive sustainability into their operations. Businesses are no longer looking at the cost implication of introducing the sustainability model because we can see more and more business incentives for introducing the sustainability model into their businesses. This is actually working well across the supply chain of businesses. What kind of sustainability initiatives does AVEVA promote for its customers and staff? Our sustainability initiatives for customers in the industrial companies are based on two major areas. The first is the focus on how to make their existing facilities more environmentally friendly

and many of those facilities are quite large and for this reason, we get the customers thinking about how to process the existing facilities in such a way that they are more friendly to the environment, and this is where the digital technology comes into play. We know that this is one of the largest areas where we can deploy the technology and have a very large impact on the environment. So by making use of the data collected and using new approach, we can actually run an application that will help us to find an optimal point for our operations. Very often in the past, an optimal point of operations would be the profitability of our operations. All these are driving towards the safety of the customers. We at AVEVA hold safety to paramount importance and business sustainability is also key for us. For example, our drive towards reduction in carbon emissions can become an optimal point for operating their facilities. The story continues online on www.thisdaylive.com

Friday, December 15, 2023 • T H I S D AY

BUSINESSWORLD

news

L-R: CEO Nigeria Export Promotion Council (NEPC),Nonye Ayeni; Minister of Industry, Trade and Investment, Doris Anite; Chairman House Committee on Commerce, Ahmed Munir and , Permanent Secretary Ministry of Industry, Trade and Investment, Evenly Ngige during a Trade Dialogue in Abuja… yesterday

FG Galvanises Advertising Professionals on Economic Reforms Awareness Raheem Akingbolu Minister of Information and National Orientation, Mohammed Idris, has urged members of the Advertising and Integrated Marketing Communication industry, to actively engage in sensitising Nigerians on the transformative economic reforms initiated by the Tinubu administration, which aimed

at engendering economic growth and fostering a prosperous nation. Idris made the call in Abuja recently while declaring open the National Advertising Conference with the theme “Marketing Communications As An Enabler of National Transformation,” according to a statement made by the minister’s spokesperson, Rabiu Ibrahim,

The Minister, who was represented by the Director General of the National Orientation Agency (NOA), Lanra Issa-Onilu, acknowledged the indispensable role being played by the advertising. Integrated marketing communication professionals in disseminating information that shapes public opinion, said they are well positioned to serve as catalysts

of Nigeria’s social and economic transformation by mobilizing citizens to fully take advantage of the reforms being implemented by the administration. “Right from Day 1, the President has been decisive – and we can see this from the tough but necessary decisions he took regarding the fuel subsidy, foreign exchange regime, and fiscal reforms, among other critical things.

“We are reforming the tax landscape, expanding the National Social Register through which social welfare is provided to the poorest and most vulnerable Nigerians. The President has just presented his first full-year Budget to the National Assembly, the Renewed Hope Budget, focused on jobs, economic growth, macro-economic stability, ease of doing business, poverty reduction,

social security, and enhanced human capital development,” he said. Idris said the Federal Government launched an SME support programme, the Presidential Conditional Grant Scheme and Palliative Programs, targeting traders, artisans, transporters, vendors, and creatives with grants and low-cost loans.

T H I S D AY • FRIday DECEMBER 15, 2023

images

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

L-R: Managing Director, Sub-Saharan Africa, Project Management Institute (PMI), George Asamani; Group Executive Director, Strategy, Capital Projects, and Portfolio Development, Dangote Group, Devakumar -VG Edwin; Transformation/Change Management Lead, Dangote Industries Limited, Adeola Akande; and Partner, Success Manager, Nigeria, PMI, Emeka Unachukwu, during the partnership meeting between PMI and Dangote Group to explore areas of collaboration, held at the Dangote Group headquarters in Ikoyi Lagos…recently

L-R: Assistant Chief Public Relations Officer, Nigerian Maritime Administration and Safety Agency (NIMASA), Okui Anthony; Chairman, Guild of Photojournalists Nigeria (GPN), Abiodun Ajala; Director, Special Duties, NIMASA, Isichei Osamgbi; and Assistant Chief Public Relations Officer, NIMASA, Kefas William, during the presentation of 2023 GPN Maritime Icon award to the director-general of NIMASA in Lagos…recently

L-R Executive Director, Corporate Service, Maple Education Limited, Mubo Olabode; President, Maple Education, Canada, Ebi Obaro; Chairman, Maple Education Canada, Dr. Tari Aganaba; Executive Director, Operations, Maple Education Limited, Tukeni Obasi; and Executive Director, Immigration, Maple Education Limited, Panebi Oboh, during the 20th anniversary ceremony of Maple Education Limited held in Lagos… recently

L-R: President, Ijebu Boys Association (IJBOYS), Mr. Olagbuyi Oduniyi; the Oru of Imoru Ijebu, Oba Adeposi Bashorun, receiving his 80th birthday gift from Chairman, Welfare Committee, IJBOYS, Otunba Niyi Awonaike, at the Mab-Royal Civic Centre, lmoru Town, Ijebu Ode, Ogun State…recently

L-R: Vice President, Logistics Head, Crown Flour Mill, Mr. Bishesh Ranjan Jha; Vice President, Head of Quality, Crown Flour Mill, Dr. Jean Hazoume; Managing Director/Chief Executive Officer, Michelle Edmund Limited, Mr. Olufunmilayo Edmund; Managing Director/CEO, Oluwasesan Sose Enterprises, Alhaji Oluwasesan Sose; Vice President, Profit Centre Head, B2C, Crown Flour Mill, Mr. Nitin Mehta; Head of Trade Sales, B2C, Crown Flour Mill, Mrs. Funmilayo Bolarinwa; and General Manager/Head of Sales, B2C, Crown Flour Mill, Mr. Charles Babarimisa, during the Crown Flour Mills Gala Night and product launch in Lagos....recently

L-R: Officer, National Conference, Ahmadiyya Muslim Jama’at of Nigeria, Qasim Oluwa; Deputy National Head (Naib Amir), Finance and Admin, Alhaji Mufadhil Bankole; National Head (Amir), Alhaji Alatoye Folorunso AbdulAzeez; Missionary In-charge, Murabbi Adnan Tahir; and Deputy Officer, National Conference, Alhaji Mikail Odukoya, during a press parley on 2023 National Conference (Jalsa Salana) in Lagos…recently PHOTO: ABAYOMI AKINYELE

This

Weekend

FRIday, December 15, 2023

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

07010510430

Weekly Magazine UTH

& R E ASO

Breath of Life as a Journey of Redemption and Hope

Friday, December 15, 2023 • T H I S D AY

Cover

Breath of Life as a Journey of Redemption and Hope When the producers thought up of Breath of Life movie, their targeted derivative was to capture the journey of redemption and hope while unravelling the depths of human connection. Sunday Ehigiator writes that the movie, which would be premiered on Prime Video original today, is such a poignant reminder that even in the darkest of times, the human spirit can prevail and blossom, guided by empathy, compassion, and the unwavering belief in the goodness of humanity

journey of redemption and hope, unravelling the depths of human connection, Breath of Life, according to the Writer and Producer, BB Sasore, is a poignant reminder that even in the darkest of times, the human spirit can prevail and blossom, guided by empathy, compassion, and the unwavering belief in the goodness of humanity. According to him, “This captivating tale offers a message of resilience, hope, and the transformative power of human connection.”

Story Idea

Directed by BB Sasore and produced by Eku Edewor, this heartwarming masterpiece delves into the transformative journey of Timi, an extraordinarily gifted and wealthy man grappling with the depths of grief and despair following a tragic loss. When Timi’s path intersects with Elijah, a humble young man who becomes his housekeeper, their unexpected encounter ignites a profound transformation. Through Elijah’s unwavering kindness and compassion, Timi embarks on a journey of selfdiscovery, rediscovering the joy of living and unravelling the true purpose of his wealth.

Cast

Breath of Life features a stellar cast of talented actors such as Wale Ojo, who delivers a compelling performance as Timi; Chimezie Imo brings warmth and authenticity to the role of Elijah, the humble young man who becomes Timi’s housekeeper. Other cast members include Genoveva Umeh, Ademola Adedoyin, and Eku Edewor who lend their talents to supporting roles, adding depth and dimension to the film’s narrative. Sam Dede, Tina Mba, and Sambasa Nzeribe brought their veteran presence to the cast, while also enriching the film with their captivating portrayals.

Idealisation

Speaking on the story’s idealization, the producer, BB Sasore said, “In structuring our ideas, we drew inspiration from a narrative featuring a French girl with a similar employer-employee relationship. “I endeavoured to relate it to our culture, recognising our strong family orientation. Conversations with relatives abroad, and managing child-rearing without external assistance, highlighted our communities’ enduring spirit of family. The real dynamic that intrigued me was transforming formal relationships, like employer-employee dynamics, into familial connections. “Once that concept took root, everything else fell into place. The narrative centred on someone affluent needing care or unconventional house help, addressing the challenges of our tough economy. The core was crafting a relatable relationship, harking back to the roots of Africa that resonates universally.”

Embodying Timi

Speaking on the character Timi and his house help, Elijah, Veteran Actor, Wale Ojo said, “The character of Timi is genuinely complex. Before we began filming, we discussed the intricacies of his personality. “As an actor, a vivid picture of the character emerged in my mind. Conversations with the director reinforced that he had a clear vision for Timi. There were shifts in perspective that made me realize the depth of the character and where the narrative was headed. Reference films like ‘The Scent of a Wounded’ played a crucial role in focusing on Timi’s essence. “Timi is portrayed as a no-nonsense guy, and it’s essential to grasp the pain and rejection he experiences. Understanding his disdain for divinity becomes crucial, reaching a point where he refuses to hear the names of God or Jesus. “In a country where people invoke the name of Jesus for everything, Timi stands in stark contrast. Exploring the complexity of Timi’s character, with Bibi’s assistance, was my goal. It involved portraying a man who adamantly rejects God, only to discover it part of a larger plan.”

Cast and producers of Breath of Life Movie: L-R: (back row) Executive Producer, Breath of Life, Derin Adeyokunnu; Writer/Producer, BB Sasore; Chimieze Imo; L-R: (sitting) Genoveva Umeh; Producer, Eku Edewor, Ademola Adedoyin and veteran actor, Wale Ojo at a media parley recently held in Lagos announcing the Breath of Life Movie, which will be launched in Prime Video on December 15th, 2023

Who is Elijah?

Speaking further, Ojo said, “On the other hand, Elijah is introduced as an angel. Initially, my perception of Elijah was akin to a cockroach, a bothersome presence disrupting my contentment. Elijah served as a persistent voice at the back of one’s mind, questioning actions and decisions. “Gradually, he transformed from a bothersome insect to a cat, a dog, a human, and finally, an angel, figuratively speaking. This metamorphosis symbolized Elijah’s impact on the protagonist’s life, subtly fixing things and guiding him towards a spiritual revelation.” Also speaking about his character Elijah, Chimezie Imo said, “Reading the script for the first time, I had a cliché but powerful moment, tears welled up, and I initially questioned my dramatic reaction until I witnessed the story come to life. “Delving into character isn’t an overthought process for me; I focus on understanding the character’s motivations and strive to embody them authentically. Acting becomes an organic expression of being rather than a conscious effort to perform. Following the guidance of our exceptional director, I allowed myself to inhabit the role, minimizing the need for traditional acting. “In approaching roles, my emphasis lies in becoming the character, and this experience was no exception. I sought to truly be Elijah, aligning with the character’s essence. “The goal was to seamlessly integrate into the narrative, guided by the director’s vision. This approach, emphasizing genuine embodiment over forced acting, has been my consistent method throughout various roles. Ultimately, I aim to

“A journey of redemption and hope, unravelling the depths of human connection, Breath of Life, is a poignant reminder that even in the darkest of times, the human spirit can prevail and blossom, guided by empathy, compassion, and the unwavering belief in the goodness of humanity.”

contribute something unique to each portrayal, making it stand out in its own right.”

The Ageless Character

Speaking on how he was able to portray a character ageing from 19 to 20 years old, during his undergraduate years at Cambridge in the 50s to being 35 years old, another Veteran Actor, Ademola Adedoyin who played the character, ‘Young Timi’, said, “For me, embodying different ages of the same character wasn’t overly challenging. “The crew’s meticulous attention to makeup, costumes, and details made the believability aspect seamless. When there were concerns about portraying the younger version of Timi, a solution emerged with Wale Ojo, who could convincingly age for the role. Screen tests and strategic scheduling were key elements in capturing the character’s ageing process authentically. “Initially, there was scepticism about Wale Ojo appearing too young for the role, but a picture showcasing his mature look dispelled those doubts. The decision to have him grow out facial hair, later turning it white, contributed significantly to the character’s ageing appearance. “To address challenges, we had to be strategic with the shooting schedule, prioritizing scenes where everything goes wrong before capturing Timi as a young man again. The absence of special effects meant that his aging process was a result of practical measures, akin to a reverse Benjamin Button scenario. “These thoughtful approaches were essential in achieving the desired portrayal of the character’s age progression.”

The Adventurous Anna

Speaking about the portrayal of her role as Anna, Genoveva Umeh said, “Anna is a charming character, a young woman freshly graduated and eager to apply herself. “Having completed her master’s, she finds herself in a small town where her parents reside, seeking her purpose. “Portraying Hannah brought me immense joy as her adventurous spirit resonates with my own. Much like her, I enjoy activities such as swimming and biking, especially with her partner Elijah. Playing this character was a delightful experience, and Bibi played a significant role in guiding me

into the role. “Working with Bibi allowed me to ask thoughtprovoking questions, deepening my understanding of Hannah’s character. Her transition from academia to a small-town setting was a compelling aspect to explore. Bibi’s guidance and the character’s relatable qualities made the portrayal enjoyable and authentic.”

Western-Nigerian Fusion

Speaking on how the production team were able to seamlessly integrate elements of Westernization and Nigerian old-school aesthetics into a contemporary movie, specifically by incorporating vintage props and costumes to evoke relatable moments from the past in a way that resonates with today’s audience, Eku Edewor, is one of the producers, while also playing the character, Bridget, said, “The team was tasked with making the film visually striking, embracing exceptional aesthetics while considering financial constraints. “The goal was to create a world that felt authentically Nigerian despite historical Western influences. Past architecture and presentations were shaped by our colonial history, particularly with the British. “We deliberately surpassed expectations, thinking beyond limitations and envisioning a grand production. Bibi drew inspiration from ‘Downton Abbey’, although our budget didn’t match its scale. “The challenge was to ground the narrative in a sensible world. For love scenes, we utilized the interiors of a historical house in Ibadan, built in the 1930s. Despite the lack of preservation, we saw potential in its architecture. “Facing constraints, we transformed a warehouse into sets, meticulously designing to capture the essence of the envisioned spaces. The creative team delved into archives, scrutinising images to ensure authenticity. “Notably, we repurposed a Rolls Royce, once owned by my grandmother, as a vintage element. The film aimed for a fantastical, magical feel, departing from strict historical accuracy. “Present-day scenes were set in 2003, evidenced by the choice of Range Rovers from that era. This decision aimed to create a timeless atmosphere, avoiding distractions like modern gadgets. The goal was for viewers to immerse themselves in the narrative without being overly conscious of the carefully crafted world.”

FRIday, DECEMBER 15, 2023 T H I S D AY

business/MOnEYGUIDE

PremiumTrust Bank Expands Banking Operations with New Branch in Ibadan Nume Ekeghe In line with its strategic expansion goals to extend banking operations across all parts of Nigeria and make financial services accessible to potential and existing customers, fastgrowing Nigerian lender, PremiumTrust Bank, has officially commenced business operations in Ibadan, Oyo State. The Ibadan Branch which was officially opened to customers in Oyo State on Tuesday, December 12, 2023, becomes the 11th branch opened by the Bank within 20 months of commencing full banking operations. The bank’s decision to establish its physical presence in Oyo State demonstrates its mission to deliver novel solutions through innovation, technology, and premium services across different parts of Nigeria. The newly opened branch is well-equipped

with state-of-the-art digital facilities and will offer a full range of banking services to suit customer needs whilst ensuring seamless execution of banking transactions. In his opening remarks, during the tape-cutting ceremony of the branch opening, the Managing Director / Chief Executive Officer of PremiumTrust Bank, Emmanuel Emefienim, stated that PremiumTrust Bank is determined to co-create products and solutions that meet the needs of diverse customers in various parts of the country. He also emphasized that through a customer-centric approach and value-oriented services, PremiumTrust Bank is coming from a position of knowledge and experience which allows the Bank to effectively address customers’ banking needs by providing personalized solutions. Whilst assuring a commitment to fostering new

banking relationships and collaborations, Emefienim also emphasized the delivery of tailor-made solutions in a timely manner to meet the needs of customers. Also speaking, the Executive Governor of Oyo State, Seyi Makinde commended the Executive Management of PremiumTrust Bank for achieving this laudable feat and expressed readiness to expand the state’s economy through a long-lasting partnership with PremiumTrust Bank. He also expressed his confidence in knowing that the presence of PremiumTrust Bank in Oyo State will strengthen the state’s financial ecosystem and promote financial inclusion for all economic players. PremiumTrust Bank is a licensed Commercial Bank with National authorization that prides itself on delivering bespoke innovative services to its discerning customers.

L-R: Vice President, Logistics Head, Crown Flour Mill, Mr Bishesh Ranjan Jha; Vice President, Head of Quality, Crown Flour Mill, Dr Jean Hazoume; Managing Director/CEO, Michelle Edmund ltd, Mr Olufunmilayo Edmund; MD/CEO, Oluwasesan Sose Enterprises, Alhaji Oluwasesan Sose; Vice President, Profit Center Head, B2C, Crown Flour Mill, Mr Nitin Mehta; Head of Trade Sales, B2C, Crown Flour Mill, Mrs Funmilayo Bolarinwa; and GM, Head of Sales, B2C, Crown Flour Mill, Mr Charles Babarimisa, during the Crown Flour Mills Gala Night and Product launch in Lagos....recently.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA)

Auditors Urged to Leverage AITools to Deliver Results, Strategic Insight Oluchi Chibuzor The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has urged its members and auditors in the country to leverage Artificial intelligence (AI) tools to deliver data points and compliance for their organisations. Speaking at the 57TH quarterly general meeting of the body in Lagos, the Chairman, ACAEBIN, Prince Akamadu, said as auditors in a rapidly changing era, it was imperative that they embrace new technologies that can enhance abilities and revolutionize the profession.

According to him, “It is no secret that the world around us is transforming, with technological advances, reshaping industries and businesses at an unprecedented pace. In this era of immense disruption, AI is emerging as a game changer, propelling us into uncharted territories of efficiency, accuracy, relevance, data points result and strategic insight. “AI presents us with an opportunity to unleash our true potential. Gone are the days when Auditors were buried under piles of documents and struggled to analyse the vast amounts of data at their disposal. By

harnessing the power of AI, we can rapidly process vast volumes of data, identify patterns, anomalies, and draw insights that were once unimaginable.” However, he noted that with AI, auditors can significantly enhance their ability to identify risk, uncover fraud, and provide recommendations for improvement. He stressed that AI equips auditors with the ability to continuously learn and adapt, while helping them remain agile in the face of an ever-evolving business landscape.

BII supports Nigeria’s Agricultural Sector with $15m Kayode Tokede British International Investment (BII) has announced it has signed legally binding documents to invest $15million in equity into a Singaporeheadquartered agricultural commodities trading house, Valency International (Valency), to fund their expansion of processing and warehouse infrastructure in Nigeria. The transaction is subject to regulatory approval and is expected to close in early 2024. In addition to its commitment of $15 million, the UK’s development finance institution (DFI) and impact investor, has an option to invest a further $35million

in equity into Valency within two years of completion of its initial investment. UK Deputy High Commissioner, Jonny Baxter in a statement said: “The UK’s sustainable agriculture work in Nigeria helps to not only mitigate greenhouse gas emissions and adapt to a changing climate, but strengthens livelihoods and improves nutrition, supporting food security and poverty alleviation.” Head of Office and Coverage Director, Nigeria for BII, Benson Adenuga in a statement also said: “The strategic opportunity to catalyse growth in Nigeria’s food and agricultural sector should be seized and offers the chance to leverage its im-

mense food export potential. We are proud to deepen our commitment to food security and smallholder farmers in Nigeria while creating jobs that enable industrialisation and facilitate regional and international trade.” Speaking, CEO of Valency International, Mr. Sumit Jain stated that: “We have been careful and deliberate in our choice of partners for the next phase of our growth. While we have been approached by a variety of investor groups, we chose to partner with BII as we have been impressed by BII’s engagement to the regions where we have committed to invest substantially over the medium term.

Plateau Govt Moves to Address Housing Deficits for Workers Seriki Adinoyi in Jos

As part of plans to provide affordable housing for low-, middle-, and high-income earners in Plateau State, the state government has disclosed readiness to partner with the Federal Housing Authority (FHA) to construct Smart Housing Units in the Jos city centre to ease accommodation problem currently faced by civil servants in the state. State Commissioner for

Housing and Urban Development, Joshua Ubandoma Laven who represented the State Governor, Caleb Mutfwang made this known shortly after a meeting with the delegation from the Federal Housing Authority (FHA) led by Hauwa Babakobi. The Commissioner said that the construction of Jos Smart Housing Units is a project that is a top priority to the state government, and so the Ministry of

Housing and Urban Development has decided to engage FHA in high-level discussion to ensure that the people-oriented project becomes a reality in record time. Laven added that the state government’s representatives have also met with the Country Regional representative of Shelter Afrique, Mrs. Elizabeth Ogonegbu to help in providing or aiding the developer with one one-digit interest loan.

August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY •FRIday, DECEMBER 15, 2023

mARKET NEWS

Investors in Stock Mamarket Gain 41.37% Year-to-Date Kayode Tokede Investors who invested in the stock market of the Nigerian Exchange Limited (NGX) have gained 41.37 per cent returns as the All-Share Index closed yesterday at 72,455.83 basis points from 27,915 basis points it opened for trading this year. The stock market, however, yesterday maintained the bull run as the NGX ASI gained

gained 156.04 points, representing a gain of 0.22 per cent to close at 72,455.83 points on investors buying interest in United Capital Plc and 25 others. Also, market capitalisation rose by N85 billion to close at N39.649 trillion. On sectoral performance, the NGX Banking Index added 1.9per cent, while the NGX Insurance dropped by 1.9per cent. Conversely, the NGX Industrial Goods, NGX

P R I C E S MaiN Board

F O R DEALS

Consumer Goods and NGX Oil & Gas indices closed flat. As measured by market breadth, market sentiment was slightly negative, as 26 stocks gained relative to 27 losers. Infinity Trust Mortgage Bank emerged the highest price gainer of 9.83 per cent to close at N2.57, while John Holt followed with a gain of 9.73 per cent to close at N2.03, per share. Ikeja Hotels rose by 9.20 per

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

quantity traded

cent to close at N4.75, while DAAR Communications and eTranzact International appreciated by 7.69 per cent each to close at 42 kobo and N7.00 respectively, per share. On the other side, R.T. Briscoe Nigeria led others on the losers’ chart with 9.84 per cent to close at 55 kobo, per share. UPDC Real Estate Investment Trust followed with a decline of 9.78 per cent to close at N4.15, while Mutual Benefits Assurance

T R A D E D

value traded ( N )

MaiN Board

A S O F

shed 9.43 per cent to close at 48 kobo, per share. Omatek Ventures lost 7.79 per cent to close at 71 kobo, while Sovereign Trust Insurance depreciated by 7.69 per cent to close at 36 kobo, per share. The total volume traded rose by 3.09 per cent to 446.583 million units, valued at N7.256 billion, and exchanged in 6,845 deals. Transactions in the shares of Access Holdings led the

activity with 77.255 million shares worth N1.756 billion. FCMB Group followed with account of 45.235 million shares valued at N318.609 million, while Zenith Bank traded 37.290 million shares valued at N1.380 billion. UBA traded 29.301 million shares worth N724.064 million, while Fidelity Bank traded 27.512 million shares worth N257.281 million.

D E C E M B E R / 1 4 / 2 3 DEALS

Market Price

quantity traded

value traded ( N)

FRIDAY DECEMBER 15, 2023 •T H I S D AY

T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

GLOBAL TECH AFRICA CONFERENCE 2023...

L-R: Director-General of NITDA, Mallam Kashifu Inuwa Abdullahi; Implementation Partner of Global Tech Africa, Dr. Inya Lawal; and Chargé d’ Affaires, U.S Mission in Nigeria, Will Stevens at the Global Tech Africa Conference 2023 held in Lgaos .... recently

Africa to Harmonise Aviation Training for Technical Personnel As Nigeria, Uganda sign MoU on tech skills exchange Chinedu Eze The Aviation Training Organisations (ATOs) in Africa have concluded plans to harmonise their training in a bid to address the technical personnel inadequacy and increase the continent's contributions to the development of aviation in the world.

This is coming as Nigeria and Uganda are on the verge of signing a Memorandum of Understanding (MoU) on the harmonisation of aviation training, which would allow technical personnel like pilots, engineers, flight dispatchers and others from the two nations to work within each other’s countries.

Dangote Gives Scholarship, Empowerment Materials, for Host Communities

James Sowole in Abeokuta

Dangote Cement Plc, yesterday, held its annual Community Day, at its Ibese Ewekoro Local Government Area Plant, Ogun State, with scholarship awards, empowerment of women, youths and farmers for indigenes of the company's host communities. The event, which was held within the organisation's premises, played host to various stakeholders, including traditional rulers, government officials, youths and some staff of the company. Addressing the gathering, the the Dangote Cement, Ibese Plant Director, Azad Nawabuddin, said the day, was set aside to celebrate the company’s accomplishments in the year and give back to its host communities for their unflinching support. He noted that several businesses and families have been confounded with socioeconomic challenges in 2023, nevertheless, Dangote Cement is committed to improving the quality of lives of its host communities. He said, “It is common knowledge that businesses and families across the world and in Nigeria are confounded with several socio-economic challenges in the year 2023. “A lot has happened to test our resilience and innovation as an organisation and as a people, but with your unalloyed support, we have been able to weather the storm and remain afloat. “The challenges notwithstanding, we are able to continue the upward trajectory in the delivery of our socioeconomic development promises, in line with our commitment to improving the overall wellbeing

of our people,” he said. The Plant Director hinted that the company embarked on 23 social investment projects and revamp of 10 non-functional CSR projects across the 17 host communities. The projects according to him, are in line with the thematic focus of the company’s social investments which is Education, Health, Infrastructure and Empowerment. He added that the firm has so far recorded remarkable progress in the implementation of the thematic focus. “As at today, we have completed the following: Installation of 33/0.415KV line through a 500KVA step down transformer in Imasayi. “Construction of one Solar Powered Borehole at Abule-Oke, construction of a health centre at Ijako Orile and construction of a block of ten (10) toilets at Abule Maria. “There’s also the construction of Perimeter fence at African Church Primary School, Onigbedu and construction of a Solar powered borehole at Araromi. “We also revamped two boreholes with Solar Power in Balogun and another two in Afami,” Nawabuddin said. He further said that Dangote Cement’s commitment to the wellbeing and development of its people through intentional empowerment programs remain unwavering. “We have continued to get better in this stride, in fulfillment of the pact we have with the host communities and to complement the efforts of government in improving the standard of living of the people,” he added.

However, for harmonization of training to happen, stakeholders in the industry have canvassed for all the aviation training centres on the continent to come under the African Aviation Training Organisations (AATO) for certification. Speakers at the 29th AATO Council Meeting Symposium and 10th year Anniversary of the organisations in Abuja on Thursday with the theme: “Advancing African Aviation Training Excellence,” said that it was necessary for Africa to emulate the European Union (EU) by harmonizing and standardizing its training under one syllabus and curriculum. Dr. Yakubu Ibrahim, the Technical Coordinator, AATO, West Africa, in an interview with aviation journalists on the sideline of the three-day event, said that the aim of the body was to bring all African countries together in a bid to harmonise their activities and certificates. He explained that such agreement would enhance job opportunities for technical persons in the industry, insisting that the current barrier must be broken.

For instance, Ibrahim explained that Europe had broken such barriers, which had further created more job opportunities for its personnel, while their airlines operate seamlessly into their skies. He, however, mentioned funding as the major challenge bedeviling the attainment of AATO aims, but maintained that no nation could go it alone. He said: “If I am a pilot trained in Nigeria, I can equally go to any of the countries on the continent to practice. So, why should we have to create boundaries? The Europeans have a harmonised system. So, I believe that by bringing all African training organisations in one place, we should be able to sit down and discuss how we can bring down the boundary. “Funding is one of the major challenges. People don’t want to sacrifice. The Nigerian College of Aviation Technology (NCAT), Zaria for instance is the founding father of AATO and we pull more resources than most members just to see that AATO does not collapse. “Another thing is to see how we

can harmonise our curriculum. We feel that we are independent nations. Which courses do you think we can come together to address? That way, the issue of no jobs here and there will be solved. If we know that we have no manpower in Nigeria and Ethiopia for instance has the manpower, they can employ our people and vice versa.” Ibrahim also revealed that some ATOs from Uganda were currently in Zaria to inspect the infrastructure of NCAT, which would lead to the signing of MoU between the two. Also, Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development in his goodwill message, reiterated the readiness of Nigeria to collaborate with other countries to complement training on the continent. Keyamo explained that as a region that faces shortages in critical skills in key areas of civil aviation, there was the need for member nations to plan, coordinate, manage, operate and oversee all complex operations in various aviation infrastructures. He emphasised that the growth of the industry would be

influenced by the pace at which African organisations were able to develop and retain adequate and skilled human resources in compliance with the International Civil Aviation Organisations (ICAO) provisions, plans, programmes and required performance specified its Standard and Recommended Practices (SARPS). He stated that ICAO was concerned about the disparities in aviation training quality and standards that lead to inability to achieve the same level of human performance at work within the continent and appealed to states to focus on the development of skills and capacities in order to have a common level. He added: “The implementation of harmonised and standardised training is necessary for the achievement and sustenance of high levels of aviation safety in Africa. Keyamo also bemoaned inadequate funding, low membership, fragile institutional framework, and lack of awareness as some of the challenges facing the organisations.

FG Unveils New Workplace Policy to Tackle HIV/AIDS Onyebuchi Ezigbo in Abuja In a bid to further check the spread of HIV/AIDS, the federal government, Thursday, launched its National Workplace Policy on HIV/AIDS. The policy seeks to redirect the fight against the disease by empowering communities and fostering a culture of inclusivity and support within workplaces. The event which coincided with the commemoration of the World AIDS Day, was organised by the Federal Ministry of Labour and Employment in collaboration with the International Labour Organisation (ILO) in Abuja and unveiled by the Minister of State, Labour and Employment, Hon. Nkeiruka Onyejiocha. She said the launch of the new policy marked a critical turning point in the country's fight against the HIV-AIDS disease. "Let Communities Lead," the theme of this year's World AIDS Day, resonates deeply with the policy's focus on community-driven solutions. Recognizing the vital

role communities play in raising awareness, dispelling stigma, and providing essential support, the policy aims to harness their leadership and resilience in tackling the epidemic," she said. While acknowledging the progress made globally in preventing, treating, and caring for HIV/AIDS, the Minister said there is the need for continued vigilance. "HIV/AIDS remains a significant public health concern," she stated, highlighting the alarming rise in new infections despite previous declines in some countries. "The National Workplace Policy is designed to address this challenge head-on. By integrating HIV/AIDS prevention into workplaces, the policy seeks to: Create safer and more productive work environments; Implement fair employment practices for individuals living with HIV/ AIDS; Encourage community involvement in workplace health initiatives. "This policy stands as a comprehensive framework recognizing

the unique role workplaces play in the lives of individuals and communities," declared Hon. Onyejiocha. Onyejiocha urged employers, employees, trade unions, and all stakeholders to embrace and implement the policy, fostering a workplace culture that champions inclusivity and empowers individuals living with HIV/AIDS to lead fulfilling lives. While urging Nigerians to show love and to stop stigmatization of persons living with HIV/AIDS, minister said the disease is no longer a death sentence since there are now medicines that can sustain infected people for life. Also addressing the gathering, the Country Director of the Representative of the NLC and the Deputy General Secretary, Chris Onyeka, said that communities should be left to lead the new drive against spread of HIV in the country. He said that government and all employers of labour should try to make the workplace environment conducive for employees to perform

their duties to minimize spread of diseases. He said that the National Workplace Policy is a collective endeavour of stakeholders, adding that its implementation should also involve all of them. On its part, TUC said the new policy would address all firms of stigmatization and victimization of persons living with HIV-AIDS in the workplace. Mr. Paul Femi Samuel who represented the Director General of Nigeria Employers Consultative Assembly (NECA) said that workplace is very crucial place for sensitization of the people on measures against the spread of HIV. He said that NECA is committed to working with government and other stakeholders in ensuring a more prosperous, inclusive and safer working environment. ILO Country Director in Nigeria, Venessa Phala expressed the hope that the policy initiative will enhance the fight against spread of HIV AIDS in the Nigeria.

T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

INDEPENDENT PETROLEUM PRODUCERS GROUP (IPPG) ANNUAL DINNER...

L–R: Deputy Governor, Ogun State, Engr. Noimot Salako-Oyedele; Minister of state for Petroleum Resources (Oil), Senator Heineken Lokpobiri;, Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu;, Chairman of IPPG/ Waltersmith Group, Mr. Abdulrazaq Isa, and, Special Adviser to the President on Energy, Mrs. Olu Verheijen, during the 2023 edition of the Independent Petroleum Producers Group (IPPG) Annual Dinner held in Lagos…recently

2024 Budget: Senate Pledges Adequate Funding for Defence Space Administration Sunday Aborisade in Abuja

The Senate Committee on Defence has said the Defence Space Administration will be given adequate funding in the 2024 budget to enable the agency to discharge its mandate optimally. The Chairman of the panel, Senator Ahmad Lawan, gave the assurance on Thursday, when

officials of the Defence Space Administration defended their budget estimates for the 2024 fiscal year. He added that improved funding for the DSA became imperative in view of the evolving security challenges confronting the nation. According to Lawan, “This is an opportunity for the agency to

disclose if you have benefitted from the supplementary appropriation 2022 in which special attention was given to the Defence sector. “Let me assure you on behalf of my colleagues that this committee is going to work with your administration to ensure that you discharge your mandate successfully.

“We believe you’re doing a good work already, but you probably need more resources and attention to ensure that you discharge your mandate optimally. “We know the resources have not been sufficient, but we want to ensure that there is going to be reasonable and significant improvement to what you were getting before 2024.”

“The idea of securing the country is never cheap and it is much more expensive when the country is already in a dire situation with so many security challenges all over.” The Chief of Defence Defence Space Administration, Air Vice Marshal Ahmed Abdullahi Shinkafi, disclosed that the sum of N6,284,786,717.00 was

FG Plans to Reduce Out-of-School Children to 7% by 2034, Says Minister

Funmi Ogundare

The Minister of Education, Prof. Tahir Mamman, yesterday, stated the federal government's readiness to reduce the number of out-of school children to 7 per cent by 2034 and ensure that at least 50 per cent of children demonstrate proficiency in reading and numeracy at the basic level. Prof. Mamman disclosed this at the 67th National Council on Education (NCE) meeting themed, 'Addressing the Challenges of Policy Implementation: A Panacea for the Achievement of Education 2030 Agenda’, was held by the Lagos State government in collaboration with his ministry. It was aimed at examining the critical issues that affect policy implementation in education putting into focus effective strategies that can lead to the attainment of education 2030 agenda, national growth and development. He stated that it would by next year roll out its implementation plans in collaboration with development partners such as UNICEF, World Bank and UNESCO. The Minister quoted a World Bank report, saying that 13 million children aged 6 to14 (25% OOS rate) are out of school. His words: "This portrays Nigeria among the

nations with the largest number of out-of-school children globally. In the same vein, only 25 per cent of children in the same age group are proficient in reading and numeracy while 39 million children cannot read and write." He stressed the need for an improvement in strengthening the system and service delivery at the basic education level, adding,

"the interventions and initiatives of development partners such as the World Bank, UNICEF, and UNESCO targeted funding and conditional transfer initiatives have helped to reduce the number of out-of-school children, skills and literacy improvement. Although these interventions have led to a considerable increase in enrolment, infrastructure and quality of service

delivery, we still need to re-examine the system critically and proffer workable solutions. "It is a right for every Nigerian child to have access to basic education and part of our responsibility is to ensure that every child of school age attends basic education." Mamman explained that the theme was apt and that all stakeholders must dedicate themselves to their

WHO Pre-qualifies NAFDAC Drug Laboratory in Yaba Onyebuchi Ezigbo in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) said that the World Health Organisation has granted pre-qualification status to the Central Drug Control Laboratory (CDCL) in Yaba, Lagos State, Nigeria. While announcing the new milestone at a press conference in Abuja, Director General of NAFDAC, Prof. Mojisola Adeyeye said: "We are delighted to announce a momentous achievement for the Central Drug Control Laboratory (CDCL) in Yaba, Lagos State, Nigeria. The World Health Organization

(WHO) has officially granted WHO Prequalification Status to the CDCL, signifying a milestone in its dedication to ensuring the safety and quality of pharmaceutical products. "This was communicated to us through a mail received from WHO Prequalification Inspection team on Friday 15th September, 2023. "This success was finally published on the WHO website last week and the website address through which the public can cite and reference this was shared with us to for dissemination to the general public". She said that among the key benefits of the WHO prequalification of the laboratory are enhanced

pharmaceutical quality and increased global recognition for medicines manufactured in Nigeria. She said the WHO prequalification status confers globally recognition badge of honor that attests to the CDCL's competence in assuring the quality of pharmaceutical products. She said the recognition also places CDCL among an elite group of laboratories worldwide known for their excellence in drug analysis. "This is a huge landmark achievement for the Agency and Nigeria. Very few laboratories in the world have the apex status of WHO pre-qualification," she said

responsibilities and ensure that all education programmes attract the necessary resources to make the system work. This, he noted would ensure the effective implementation of educational policies across levels. "To achieve this, we must identify our challenges and adopt global best practices to make our education system relevant, effective and responsive to the needs of individuals and the nation." In his remarks, the Lagos State Governor, Mr Babajide Sanwo-Olu, expressed hope that the state of the education sector will change significantly in such a way that will be beneficial to the development of country with the review of policies and elimination of bottlenecks to their implementation. The theme of this meeting, he noted, is very apt and consistent with the state's advocacy for pragmatic approach to policy formulation and implementation in education and its constant review in order to align it with changing realities and national development priorities. He explained that the state has over the years, implemented policies on school safety by collaborating with the security Nigerian Security and Civil to establish a school patrol, making schools conducive, enduring, easy access to education, among others.

appropriated to the DSA in 2023. He added that out of the amount, N1,922,736,282.00 was for personnel emolument; N298,632,998.00 for overhead cost; and N4,063,417,437.00 for capital projects. Shinkafi explained that the amount appropriated to the DSA in 2023 for the execution of capital projects was used for the development of the National Defence Space School, development of DSA town in Abuja, development of National Defence Space Communication Satellite Centre, and upgrade of software for Cyber Space Operations in DSA headquarters, amongst others. Giving a breakdown of the budget estimate for 2024, the Chief of Defence Space Administration stated that a total of N10,756,136,620.83 was proposed for the next fiscal year. He disclosed that out of the amount, N6,928,957,268.00 was for recurrent expenditure; and N3,827,179,352.00 was proposed for capital expenditure. Shinkafi, however, observed that the proposed amount budgeted for the capital expenditure needs of the administration was grossly inadequate. In a related development, the Director General of the Defence Research and Development Bureau, Major General Emmanuel Ndagi, while also appearing before the Defence Committee lamented that “the fixing of a budget ceiling has not been favourable to the Bureau in its annual budgetary allocation.” He nevertheless commended the Committee for making deliberate efforts to ameliorate the situation through the window of interventions.

Operator Seeks Agency to Address Real Estate Developers' Plight

Folalumi Alaran in Abuja

An operator has called on the federal government to create a single agency to address the plight of real estate developers in order to ensure seamless and efficient operations. The Executive Director, Pennek Nigeria Limited, Kennedy Nnadi,

made the call at the official opening ceremony of the estate in Abuja. According to him, dealing with various government agencies during construction was a challenge, adding that there should be a streamlined process to simplify the procedures. Nnadi said: "Similar to the

Treasury Single Account (TSA), there should be a unified government agency overseeing construction-related matters for efficient decision-making. “The government must support developers because a nation's progress hinges on their contributions. While the government may conceive ideas,

developers drive the vision and mission. “With governmental support, including tax waivers, asset protection, and overall encouragement, our business can thrive in Nigeria." On the issue of Certificate of Occupancy (C of O), he pointed out that discussions were ongoing,

and the situation not yet finalised. "We are actively engaging with the government, exploring viable options. It's a positive step; everyone will eventually have their C of O, and as per our plan, the estate is secure. The necessary documents are prepared, awaiting transfer to the subscribers," he stated.

While addressing youth unemployment, he highlighted the company's success in reducing the unemployment rate in Nigeria. "In this specific project, we've employed a minimum of approximately 300 individuals, significantly impacting their income and ability to manage personal affairs," he added.

T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

PRESS CONFERENCE ON THE 9TH EDITION OF AIRTEL’S ‘5 DAYS OF LOVE…

L-R: Head, Corporate Social Responsibility, Chioma Okolie; Director, Corporate Communications and CSR, Femi Adeniran; Director of Distribution, Ifeoma Okafor-Obi and Head, Public Relations, Sam Adeoye, all of Airtel Nigeria, during a press conference to announce the 9th edition of Airtel’s ‘5 Days of Love’ at Airtel Headquarters, Banana Island Ikoyi, Lagos....recently

Tinubu, Dapo Abiodun, Other Eminent Nigerians Bid Chris Ogunbanjo Farewell He was a lover of man and God, says president

James Sowole in Abeokuta Eminent Nigerians, yesterday, thronged Erunwon in Ogun State to pay their last respect to foremost industrialist, Chief Chris Ogunbanjo, who died on October 7, 2023, a few months to his centenary celebration. It was the celebration of a life well spent with President Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, in attendance. Also, at the event were the Governor of Ogun State, Dapo Abiodun; Minister of Finance, and the Coordinating Minister of the Economy, Mr. Wale Edun; two former governors of Ogun State, Aremo Olusegun Osoba and Senator Ibikunle Amosun. Present too were a former

governor of Ekiti State, and erstwhile Minister of Industry, Trade and Investment, Chief Niyi Adebayo as well as a former Commonwealth Secretary General, Chief Emeka Anyaoku. Others were a former Minister of Budget and Economic Planning, Senator Udo Udoma; the new Ogbeni Oja of Ijebuland, Chief Sunny Kuku; Afenifere leader, Ayo Adebanjo; and former deputy governor of Lagos State, Alhaja Sinatu Ojikutu, amongst others. Speaking at the funeral service, Tinubu described the boardroom guru, philanthropist and corporate leader as a lover of God Almighty and his people. He called on members of the family to remain united as they prepared to take over the mantle of leadership from their late patriarch.

Ponzi: SEC Shuts Down Finance Firm over Illegal Investment Activities

Ndubuisi Francis

The Securities and Exchange Commission (SEC), has sealed off the premises of a finance company, Ready Finance Investors, for allegedly engaging in illegal investment and other capital market infractions, suggestive of a covert Ponzi scheme. The capital market regulator said the action was taken as part of efforts to rid the capital market in the country of fraudulent operators and create a veritable opportunity for legitimate businesses to thrive in the system. About three million Nigerians lost N18 billion in the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM) a few years ago. In a statement issued yesterday, SEC said the office of Ready Finance Investors Limited situated at Flat 5, AYA Memorial Plaza, Nkwere Street, Area 11, Garki, Abuja was sealed off for offering a range of financial investment services and schemes suggestive of a covert Ponzi scheme. According to SEC, the scheme entices clients with promises of fixed returns on investment, contingent upon the specific package to which a client subscribes, the Commission said.

The company, it said, is not registered with the Commission to conduct any activities in the capital market, thereby rendering its operations and activities illegal, adding that the matter is currently under the purview of law enforcement agencies for criminal investigation and subsequent prosecution "The matter is currently under the purview of law enforcement agencies for criminal investigation and subsequent prosecution," SEC said, warning that any person subscribing to any of the company’s products/schemes or dealing with it in any capital market-related business was doing so at his/her own risk. SEC stressed that in addition to sealing off the premises of offenders, other efforts to curb the operations of illegal capital market operators in Nigeria include the amendment of its Anti Money Laundering and Countering the Financing of Terrorism Financing (AML/CFT/CPF) Regulation 2022 in line with the findings from the National Residual Risk Assessment (NRRA) exercise; New frameworks on the implementation of Targeted Financial Sanctions (TFS), Risk-based Supervision and guidance on Politically Exposed Persons (PEPs).

Tinubu called on the people of the state and the country as a whole to emulate the late philanthropist. "The lesson we can learn is to emulate his wonderful character while he lived. He was a fine and extraordinary man. Papa has gone and left a wonderful family behind. “To the members of the family, be as united and solid as ever

as you prepare to take over the mantle of leadership from your wonderful father, grandfather, and great-grandfather. In his remarks, Abiodun said the late Ogunbanjo made impressionable contributions to national economic policy, acknowledging him for encouraging Nigerians to own and be part of the management of foreign companies in the country.

He further described the deceased as a colossus and a phenomenon, commending him for championing and advocating the beginning of domiciliary accounts in the country. Abiodun said: "He made impressionable contributions to national economic policy. He encouraged Nigerians to own and be part of the management of foreign companies in Nigeria,

"He was the champion and advocate for the domiciliary accounts in Nigeria. This later came into existence formally through the foreign currency decree of 1985." Earlier, Venerable Ebenezer Abiala, described Ogunbanjo as a man with lots of humour, calling on the congregation to learn from his life of service to humanity.

NYSC: We Paid No Ransom for Release of Corps Members in Zamfara Oghenevwede Ohwovoriole in Abuja

The National Youth Service Corps (NYSC), has denied reports that ransom was paid for the release of some kidnapped prospective corps members in Zamfara State. The scheme, in a statement by the Director, Press and Public Relations, Eddy Megwa, debunked claims in a section of the media that the Akwa-Ibom State government and some individuals made cash payment of ransom for the the release of the PMCs. The NYSC said the news making the round was false, adding that

no state government or individual paid ransom. "The attention of NYSC management has been drawn to the news making rounds in the public that Akwa Ibom Government and some concerned individuals paid for the release of the kidnapped prospective corps members. "To put the records straight, the release of the prospective corps members kidnapped in Zamfara State on their way to report at Orientation camp in Sokoto State was primarily on the combined effort of the security agents and the the National Youth Service Corps. "It is also noteworthy to

state that no state government, individual or agency paid any amount in the guise of ransom before their release. "The management of National Youth Service Corps, since their release, is shouldering the responsibility of their medical bills where they are recuperating. “The management therefore disassociates itself from the claim that Akwa Ibom State Government or any other state Government paid money for their release. "The management of the scheme is very much aware of different account numbers and names currently being circulated in

the public calling for financial donations towards paying ransom for the release of the prospective corps members," the statement said. The NYSC management, therefore, called on parents and family members of the kidnapped prospective corps members, Akwa Ibom and Zamfara State governments or anybody not to fall prey to the unscrupulous elements and fraudsters taking undue advantage of the situation to defraud unsuspecting members of the public by calling for donation towards the release of the kidnapped prospective corps members.

Clem Agba Declares for Edo Governorship Race

The immediate past Minister of State for Budget and National Planning, Clem Agba, has formally thrown his hat in the ring for the governorship ticket of the All Progressives Congress (APC), anchoring his electioneering on the "Edo Okpa Makhin" spirit, meaning, "Edo We are One." Agba addressed a huge crowd of loyalists, supporters, and party leaders at his campaign office in Benin, shortly after he addressed the State Working Committee of the party on his development agenda. He said he would pursue an agenda of TRUST, which underpins his focus on transforming the rural and urban spaces together. In his declaration speech, he said: "Today, I stand before you filled with a sense of profound responsibility and unwavering commitment. "I am honoured to formally

announce my intention to contest for the APC gubernatorial ticket of our great state, Edo. "This decision, borne from deep reflections and extensive consultations with my beloved family, distinguished leaders of our party, and a wide range of stakeholders across the state and country, reflects my dedication to our shared future. "I am deeply humbled and grateful for the trust and confidence bestowed upon me by those who have supported and inspired me on this journey. "I pray for your continued support and prayers in our shared voyage." He said that having been raised in Edo North, educated in Edo Central, and united by marriage with Edo South, his life's journey mirrored the multifaceted beauty and complexity of Edo State. According to him: "This unique

blend of experiences, coupled with my career in the public and organised private sectors, has allowed me to engage with a diverse array of communities and institutions, both locally and globally. "Consequently, I have witnessed the struggles of families, the frustrations of small businesses, and the deprivations of our communities. "The disconnect between subnational governments and the central government has further aggravated the multidimensional poverty among our people. "Our daily challenges are evident. Our schools, hospitals, and roads, which were once symbols of progress, cry out for urgent renewal. We must not only restore these infrastructure but also elevate them to a standard befitting of our State’s aspirations. This is the

path of development I believe in, and I am championing.” The Benin kingdom, one of the historic kingdoms of the world, he said, is the custodian of the Edo heritage and culture, which must be showcased to the world. He continued: "As your governor, I will operate an open-door policy of governance, ensuring inclusivity and responsiveness "I will carry the aspirations of our people and re-engineer our State, creating a vibrant environment for success. "I am committed to bringing forth innovative solutions and fostering collaboration for the benefit of all residents of our state. "However, this journey requires your support, ideas, and involvement. Together, we can build a movement that heralds the positive change our state deserves."

T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

MULTICHOICE TALENT FACTORY CLASS OF 2023 GRADUATION CEREMONY...

L-R: Consular General US Consulate, Lagos, Mr Will Stevens; Dean, School of Media and Communications, Pan-Atlantic University, Dr. Ikechukwu Obiaya; best graduating student MultiChoiceTalentFactory class of 2023, Samuel Ogundeyi; Academy Director West Africa MultiChoice Talent Factory, Atinuke Babatunde and CEO, West Africa, MultiChoice, Mr. John Ugbe, at the MultiChoice Talent Factory class of 2023 graduation ceremony in Lagos, ... yesterday

Not All Wrong Judgments are Products of Graft, Says Retired S’Court Justice Asks NBA to protect judiciary Legal icons honour late Niki Tobi

Sunday Aborisade in Abuja A retired justice of the Supreme Court, Francis Tabail, yesterday, tasked the Nigeria Bar Association (NBA) to correct the impressions on wrong judgments, saying, not all wrong judgments were products of corruption. The retired silk stated this at the late Hon. Justice Niki Tobi Biennial Symposium in Abuja He was the dean of the Faculty of Law and also, deputy vicechancellor, University of Maiduguri, before he was appointed to the Supreme Court in 2002. Niki Tobi was an Associate Justice of the Supreme Court of Nigeria before he died in June 19, 2016. Tabail while speaking on the occasion said the judicial officers at the bench were not capable of defending their judgments, hence the NBA should rise to the occasion of enlightening Nigerians in order to save the nation's judiciary. He cautioned Nigerians to draw a distinction between a judgement that is wrong and the one that has been influenced by corruption. "The trend in Nigeria is that anyone, who loses a case in court, would allege that it was as a result of corruption. "I want to plead with the Nigeria Bar Association to protect the Bench because the Bench cannot protect itself on matters of whether a judgement was right or wrong. "In fairly controversial judgement involving a three-man panel in

the Appeal Court, the judgment is one. Each of the three justices would express his opinion, the reasoning and conclusions. "One would read the lead judgment and the others would say, I agree with the reasoning and

the conclusions. "So, there is nothing like three judgments. In one of the controversial judgments, I read, the reasoning was free, at the end, there were two conflicting conclusions. The first agreed with

the general flow of the reasoning while the other one was against it. "My plea is particularly to the Bar, because the Judicial officers are not in a position to either say their judgment was right or wrong. "We must also bear in mind that

corruption is a criminal offence. It has to be proven beyond reasonable doubts. "Every wrong judgement as far as Nigerians are concerned, was a product of corruption.That is why I am appealing to the Bar,

to protect Judiciary," he added. In his keynote address, a professor of law, and Senior Advocate of Nigeria, Ernest Ojukwu, stressed the need for the judiciary to be digitalised in order to curb corruption.

Wike Offers Somalia Land to Construct Chancery

Olawale Ajimotokan in Abuja

The FCT Minister, Nyesom Wike, has offered to approve a parcel of land in Abuja for Somalia towards the construction of the country's

Chancery. He gave the assurance yesterday when he played host to the Somalian Ambassador to Nigeria, Jamal Mohamed Barrow,in his office in Abuja.

Wike assured Barrow of his readiness to fasttrack the processes leading to the approval of a land to enable the Horn of Africa country to start building its Chancery in Abuja. The minister noted that both

Nigeria and Somalia had many things in common, including unfortunate the civil wars, that had truncated development. “Security is very key for us, where we are now is not where

PDP: No Party Member Above the Law

Chuks Okocha in Abuja

Against the back drop of comments that the Minister of the Federal Capital Territory (FCT), Nyesom Wike, was untouchable within the Peoples Democratic party (PDP), the party has said no one was above the law or could not be disciplined. This was as the National Working Committee (NWC) of the PDP, Amb. Illya Damagum, yesterday, met with all the governorship aspirants ahead of the governorship election coming up next year. Speaking on Arise television mid night programme, the National Publicity Secretary, Debo Ologunagba, said the party was capable of wielding the big stick on any member, whenever the

occasion arose. Anchor of the programme, Charles Aniagolu, had asked Ologunagba whether or not the FCT minister was above the law as a member of the PDP. He further asked him the position of the party as Wike was serving as a cabinet member in the All Progressives Congress (APC)-led federal government. In his response, he said, "In the PDP, nobody or any member was above the law." Ologunagba further said everything within the party followed due processes before a decision was taken. He explained that the party is currently awaiting the outcome of various governorship and other

election petitions currently before the Supreme Court, explaining that the party would certainly take actions of all issues before it and take appropriate decision based on consensus. Meanwhile at a stakeholders meeting in Abuja with governorship aspirants in Edo State, Damagum said all aspirants had agreed to work together as a family. He also said the party would go further to break the meeting into smaller committees so that at the end of the day, the party would come out with a better solution, to enable the PDP maintain its position as a family On the relationship between the Edo State governor and his deputy, Philip Shaibu, the acting national

chairman said, "We are talking about election here and you are talking about issue between the governor and his deputy. There was not issue.” Also speaking, the Edo State Governor, Godwin Obaseki, said, "There is absolutely no issue between me and my deputy and he is here. He wants to contest and we are not asking him to drop his ambition. He is a free born of Edo state and he can contest." Obaseki said he would support anyone that the people of Edo State and party support, adding: "I will support whoever the party support" One of the governorship aspirants, Asue Igbodalo, said that he stood for the unity of the party and prayed that the people would continue to live in peace

we want to be. There is still room for improvement. “We want our guests to be comfortable. Don’t hesitate to come to us where you have observations,” Wike said. In his remarks, Barrow expressed hope that Nigeria and Somalia could interface, saying Nigeria could be a model, especially Abuja, for Mogadishu, the Somalian capital. He commended the FCT Minister for the improved security and good leadership in the FCT and expressed the hope that Abuja would in the future become one of the best capital cities in the world under the leadership of the minister. “We are asking for assistance. There is a long history of relationship between Nigeria and Somalia. We want to see how Abuja is working and how you are doing it, so we can also do it in Mogadishu. We want to make Nigeria our second home. “We have been in war, we have got our challenges, we operate a federal system and we do hope that Nigeria is the best model to copy. Since we have the same experiences, we can work together,” Barrow said.

FG VOWS TO AWARD OIL ASSETS TO ONLY COMPANIES WITH PROVEN CAPACITY IN FUTURE BID ROUNDS bank," he added. In her goodwill message, the Special Adviser to the President on Energy, Verheijen, said her engagements with the stakeholders had shown that there were massive investment opportunities for the sector. Estimated at $55.2 billion opportunities projected by 2030, she said investments worth $13.5 billion was expected to be invested by the energy companies in 12 months’ time. She said the administration of Tinubu, in line with its Renewed Hope Agenda, remained committed towards improving the business and investment climate in the country, including the energy sector. As she had expressed at several of her stakeholder engagements with the sector, Verheijen said the

president was fully committed to the development of the energy sector, and was actively exploring all areas to improve revenue and the economy in general. She maintained that the oil and gas sector remained critical in that regard despite current production levels falling significantly short of the nation's potential. "My Office has since started work on key areas of reform to spur the growth of the energy sector, and which would also positively impact on the livelihood of the average Nigerian and small businesses. "Recently, the President approved the Import Duty Waiver aimed at increasing the utilisation and supply of gas in the domestic market. This waiver covers the importation of all equipment

related to Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG), as well as machinery, equipment and spare parts into the Nigerian market for the utilisation of Nigerian gas," the presidential aide stated. She added that there were ongoing discussions aimed at improving the energy landscape, security and implementing the appropriate fiscal incentives for growth, noting that more incentives that would boost oil and gas investments in the country, and generally improve the energy sector were being expected. Earlier in his welcome remarks, the IPPG Chair, Abdulrazaq Isa, bemoaned the persistent investor uncertainty in Nigeria's oil sector despite the passage of the PIA over two years ago, an Act he described

as a core element of the ongoing reforms in the petroleum sector. He said investor uncertainty had been further compounded by the global energy transition drive and insecurity in the Niger Delta, which had led to a significant drop in the nation's crude production. According to him, the PIA had been in effect for over two years and that the landmark legislation had established a solid foundation for the growth and development of the industry. As key industry stakeholders, Isa stressed the need to take a step back and understand why significant investments into the industry were yet to materialise and that they must also identify the key imperatives to sustainably address the muted investment level and dwindling production.

Consequently, he said the immediate priority for them as an industry must be on creating a conducive and enabling business environment to enhance the competitiveness of the industry. He added that attracting the level of investment required to fully optimise the country's production base would require the stakeholders to focus on some key priorities in the short to medium term. Isa, listed some of the solutions to include amending critical aspects of the PIA to strengthen the regulatory framework and competitiveness of the fiscal regime as well as enhancing security across the Niger Delta. Others, according to him, were expediting the conclusion of ongoing international oil

companies (IOCs) divestments; sustaining the implementation of the Decade of Gas policy and holistically addressing inherent inefficiencies within the industry which has driven costs to astronomical levels. The IPPG boss further said, "Based on the vast hydrocarbon resources at our disposal and the ongoing global decarbonisation drive, achieving production targets of 4 million barrels per day of oil and 12 billion cubic feet per day of gas by the turn of the decade should be non-negotiable. "A clear line of sight with realistic milestones needs to be defined or we stand the risk of missing a golden opportunity to turn around the fortunes of our industry within the limited window we have today."

T H I S D AY • FRIDAY, DECEMBER 15, 2023

NEWS

UNITED NIGERIA AIRLINE'S INAUGURAL FLIGHT TO SOKOTO...

L-R: Sokoto State Governor, Alhaji Ahmad Aliyu Sokoto; Chairman of United Nigeria Airlines, Prof. Obiora Okonkwo with Sultan of Sokoto, His Eminence, Alhaji Sa'ad Abubakar; arriving for the inaugural flight of the airline in Sokoto State... yesterday

Aiyedatiwa Addresses Ondo, Seeks to Build Shared Future from Divided Past

Fidelis David in Akure

The Acting Governor of Ondo State, Mr Lucky Aiyedatiwa, yesterday, called on political actors in the state to forget the crisis in the state by building a shared future from a divided past. This came a day after the State House of Assembly confirmed the receipt of the letter of medical leave forwarded by Governor Oluwarotimi Akeredolu, to the assembly to proceed on another medical leave and declared Aiyedatiwa as the acting governor. In a state broadcast address marking his assumption of office upon transmission of power by his principal, Aiyedatiwa admitted that the intrigues that ensued due to Akeredolu's health challenges were indeed avoidable distractions. "Only God Almighty has explanations for what happened in the last few months. When

nature sets in to hinder human performance, it is always a painful thing. “We must acknowledge that the key to the well-being of a man is in the hands of God. It is not for us as humans to question God but to pray for His mercies upon our lives. "It is in this regard that we admit with all sense of responsibility that the intrigues that ensued due to Mr Governor’s health challenges were indeed avoidable distractions. “We ought to have done better so as to keep giving Ondo State the seamless and solid governance which Arakunrin Oluwarotimi Odunayo Akeredolu, SAN, CON, had established in the State in the last six-and-a-half years. "As a government, we must appreciate the sovereignty of the people that voted us into office and we regret in no unmistakable terms the toll which this whole episode had

Gill Lever Appointed New British Deputy High Commissioner Michael Olugbode in Abuja The United Kingdom has appointed Mrs. Gill Lever, OBE, as the British Deputy High Commissioner (DHC) in Abuja, Nigeria. She takes over from Ms. Gill Atkinson who recently concluded four years as Deputy High Commissioner in Abuja. According to a statement on Thursday from the British High Commissioner, Gill Lever is an experienced career diplomat who has worked in different parts of the world including Romania, India and Japan, and prior to becoming the British Deputy High Commissioner (DHC) in Abuja and had served as the UK Deputy Head of Mission to Juba, South Sudan from 2022 – 2023. The statement also added that before then, she served as the Head of Overseas Health and Welfare at the Foreign, Commonwealth & Development Office (FCDO) in London. In the UK, she worked in a diverse range of roles including as Head of the Peacekeeping Team in the UN Department, Deputy Head of Southeast Asia Department

and as a Human Resources Business Partner. Gill was awarded the Order of the British Empire (OBE) by HM Queen Elizabeth II, in 2021, for services to Health and Welfare and British nationals while working on the front line of the Covid-19 pandemic response. She has also worked in the voluntary sector, establishing child drowning prevention programmes, and raising funds for women’s and children’s projects in Vietnam. Gill is married to Giles and together they have two children, according to the statement. To mark her arrival, Gill Lever said: “I am delighted to be back in Nigeria. I was posted to Abuja 10 years ago with my husband and son and have such fond memories. I always knew I’d be back! I am excited about my new role as Deputy High Commissioner. “I look forward to working with the talented High Commission team in Abuja, with colleagues in Lagos and in our other smaller posts across our Nigeria network, to deepen the special relationship between our two proud countries.”

inflicted on the psyche of the People and the development of the State. “Despite all these, my dear people, I come to you today, to urge you all not to relent,

as you have always done, in your prayers for the quick restoration of good health and strength to our leader, Arakunrin Oluwarotimi Odunayo Akeredolu, SAN,

CON. "Finally and bearing in mind the foregoing, I therefore wish to assure you all that it is with a deep sense of humility and a heart of absolute commitment

to the good of our Sunshine State that I accept the onerous assignment, during this temporary absence of Mr. Governor, to serve you as the Acting Governor of Ondo State.”

House: Most Corruption Cases Traceable to Procurement Processes Adedayo Akinwale in Abuja

The House of Representatives has lamented that most of the corruption cases in the country could be traced to procurement processes. To this end, the Green Chamber said it would intensify its oversight functions with the aim of

strengthening the Bureau of Public Procurement to build and sustain an efficient procurement system that meets international best practices. The Chairman, House Committee on Public Procurement, Hon. Unyime Idem, stated this yesterday during the Budget Defence Session with the Bureau of

Public Procurement. He said the committee had a vital role to play in the eradication of corruption in the country as most of the corruption cases in the country could be traced to Procurement processes. "The committee will intensify its oversight functions with the aim of strengthening the

Bureau to build and sustain an efficient procurement system that meets international best practices. "The Committee on Public Procurement has a vital role to play in the eradication of corruption in the Country as most of the corruption cases in the country can be traced to Procurement processes."

Sit-at-Home: Victim's Family Seeks FG's Intervention Fund, Kanu’s Release Emmanuel Ugwu-Nwogo in Umuahia

The federal government has been urged to set up a special intervention fund to help in the treatment and rehabilitation of innocent victims of the sit-at-home order. A spokesman of the family of a victim of sit-at-home, Mr. Steve Oko made the call in a statement marking the anniversary of the vicious attack on Henry Oko by enforcers of sit-at-home. The sit-at-home protest was initially adopted by the Indigenous People of Biafra (IPOB) as a tool

to drive home its quest for Biafran self-determination. Though IPOB has since abandoned the sit-at-home protest, faction of the separatist group led by Finland-based Simon Ekpa has continued to order and enforce sit-at-home. Oko was on December 14, 2022 shot by sit-at-home enforcers at Nwakpu Market in Ikwo Local Government of Ebonyi State. His thigh was shattered by bullets and 12 months after, he is still in critical condition battling for his life at the hospital. "Our family is financially exhausted because enormous

resources have been sunk into efforts to save my brother's life," he lamented. "He spent over four months at the National Orthopedic Hospital Enugu before he was referred to another tertiary hospital where he is currently being managed". The spokesman of the Oko family noted that innocent victims of the sit-at-home protest abound in all states of the South East zone hence the need for federal intervention. He said that such intervention would enable the victims recover and rebuild their lives, adding that some of them have been

incapacitated for life. "Time has come for the federal government to intervene and show empathy just as it did to victims of Boko Haram when it established North East Development Commission. Similar Commission or Special Intervention Fund is urgently needed for victims of sit-at-home in South East," he pleaded. Steve stated that a number of victims of sit-at-home, who were lucky to escape were left with life-threatening injuries, with no help coming from either the federal or state governments in the affected zone.

Power Key to Industrialisation, Economic Devt, Says Edo Guber Aspirant Adibe Emenyonu in Benin Cit A Labour Party (LP) aspirant in the 2024 governorship election in Edo State, Sgt. Ogbemudia Osagie, has identified uninterrupted power as catalyst to industrialisation and economic development. The Canada-based security detective, made the assertion while interacting with members of the Edo Correspondents' Chapel of the Nigeria Union of Journalists (NUJ) yesterday in Benin City. Ogbemudia said if elected as governor of the state next

year, his administration will partner with a Canadian hydrological company with a view to improving power supply in the state. He revealed that his aspiration to govern Edo was borne out of his desire to provide better and projectdriven governance to the people of the state, especially in the areas of human, infrastructure and capital development. "Our people are poor because there is no job for them. But for us to have a vibrant youths in Edo, we need to build industries, and

technical skills that will make us to be producing instead of consuming. "I came to serve the people of Edo State and my mandate is to build infrastructure and bridges which will in turn empower the people. "Having served Toronto for over 24 years meritoriously, the same competence, transparency and accountability I want to replicate in Edo", he said Speaking on education, the LP governorship hopeful assured that if elected as governor of the state, his administration will revamp the educational sector in

line with global best practices. Ogbemudia further stated that the issue of security will be accorded top priority in his administration, just as he averred that: "I am the only option for Edo State because what other candidates lack, I have them". Maintaining that he was not disturbed by the issue of money politics in the country, the Toronto Police Service Sergeant, called on the leadership of the party in the state to give all its aspirants level playing ground with a view to fielding the best to fly the party’s flag.

FRIday december 15, 2023 • T H I S D AY

NEWS

CAVERTON HELICOPTERS UNVEILS NEW SIMULATOR …

L-R: Chairman, Caverton Helicopters Limited, Mallam Bello Gwandu; Mrs. Yoyinsola Makanjuola; Chairman, Caverton Offshore Support Group (COSG), Mr. Aderemi Makanjuola; Lagos State Governor, Mr. Babajide Sanwo-Olu, his Deputy, Dr. Kadiri Obafemi Hamzat; Chief Executive Officer, COSG, Mr. Olabode Makanjuola, and former Minister of State for Finance, Amb. Bashir Yuguda, during the unveiling of Caverton Helicopter’s newly acquired Leonardo AW109 Simulator at Caverton AviationTraining Centre, Ikeja, Lagos…yesterday

Ministry of Homeland Security to Investigate Attacks on Teachers in Niger LaleyeDipoinMinna

The recent attacks on teachers in some public schools in Minna the Niger State capital are to be investigated by the Ministry of Homeland Security.

This is even as the Ministry of Education has also vowed to take drastic steps against students who manhandled their teachers. THISDAY learnt that in one of the schools a student who was

punished by his teacher mobilised his colleagues from outside the school compound to beat up the teacher . It was a similar scenario in the second school and both incidents occurred within 24 hours of each

other.vHowever, none of the attackers were arrested by the schools security teams. Apparently confirming these incidents the Commissioner for Basic and Secondary Education,

Dr Hadiza Asabe Mohammed, in a statement said: “The negative development is posing a significant security threat in schools”. According to the statement

signed by the Information Officer in the Ministry, Jibrin Usman Kodo, the Commissioner said students attacks on teachers with dangerous weapons is attaining “ a dangerous dimension which must stop”

Wale Adenuga Finally Sanwo-Olu Unveils Caverton’s New Simulator, Praises Management’s Vision effort to expand its aviation Governor Babajide Sanwo- given to him and not invest it.” maintenance of aircraft at this Unveils Biography Intraining facilities to meet Olu of Lagos State, who was The governor described highest level, all just tucked in

Sunday Okobi

The Founder of WAP TV, Chief Wale Adenuga, who is the creator of Superstory TV Drama, Papa Ajasco, Company Reloaded TV Comedy, and many other award-winning family entertainment platforms has finally released his much-anticipated

CHANGE OF NAME I formerly known and addressed as Onwuaduegbo Ukwuoma, now wish to be known and addressed as Miss Onwuaduegbo Ukwuoma Esther. All former documents remain valid. The general public should please take note.

I formerly known and addressed as Akingboju Abiodun Susan, now wish to be known and addressed as Olaniyi Abiodun Susan. All former documents remain valid. The general public should take note. I, formerly known and addressed as MISS UBAKANMA UZOAMAKA GLORIA now wish to be known and addressed as MRS NNEKA UZOAMAKA GLORIA. All former documents remain valid. The general public should please take note. I, formerly known and addressed as WILLIAMS STANLEY now wish to be known and addressed as WILLIAMS MARCUS. All former documents remain valid. The general public should please take note. I, formerly known and addressed as Osuji Kelechi Chima now wish to be known and addressed as Ngeze Osuji Kelechi Chima. All former documents remain valid. The general public should please take note. I, formerly known and addressed as MISS UGWUEGBULAM LILIAN NGOZI, now wish to be known and addressed as MRS ANUKAM LILIAN NGOZI. All former documents remain valid. The general public should please take note. I, formerly known and addressed as MISS OKWERIGBO CHRISTIANA IFEYINWA, now wish to be known and addressed as MRS AMADIEGWU CHRISTIANA IFEYINWA. All former documents remain valid. The general public should please take note.

biography book titled: ‘An Unusual Biography: Wale Adenuga. APencil in the Hand of the Creator.’ According to Adenuga, in a statement made available to THISDAY yesterday, “Over the years, people have always asked me a wide range of questions about my different works, and I have always tried to provide the best responses in ways they would be able to relate to. “However, I realised that the best way to share my full story would be to present it to the world in an entertaining, yet concise, manner.

CHANGE OF NAME I, formerly known and addressed as MISS AGOLIA TONTE MARGRET, now wish to be known and addressed as MRS MORDI MARGRET TONTE. All former documents remain valid. The general public should please take note. I, formerly known and addressed as CHUKWU HELEN now wish to be known and addressed as IBHAWO HELEN GOODLUCK. All former documents remain valid. The general public should please take note.

I formerly known and addressed as MISS. ORJI CHARITY NNEOMA, now wish to be known and addressed as MRS. NDUKWUCOLLINS CHARITY NNEOMA. All former documents remain valid. The public should please take note. I formerly known and addressed as Miss Busirat Folasade Taiwo, now wish to be known and addressed as Mrs Folasade Ogunbambi. All former documents remain valid. The public should please take note. I formerly known and addressed as Okafor Chioma Vivian, now wish to be known and addressed as Obi Chioma Vivian. All former documents remain valid. The public should please take note. I formerly known and addressed as Bimbo Adeniji Amedu, now wish to be known and addressed as Bimbo Adeniji Adetoro Amedu. All former documents remain valid. The public should please take note.

with international standard, Caverton Helicopters, yesterday inaugurated its first-of-its kind Leonardo AW 109 Level 5 Simulator at its Aviation Training Center located at Murtala Muhammed lnternational Airport, lkeja Lagos.

the guest of honour, praised the founder and Chairman, Mr. Aderemi Makanjuola, and management for their vision in contributing to the Nigerian economy through job creation. According to him, “Baba could have locked up what God has

Makanjuola as a man that has stayed in an uncommon terrain by the kind of business he does with Caverton, and commended him for the giant stride he has made. He said: “It gladdens my heart that indeed we can have

quietly in Lagos and nobody makes a lot of noise about it. I thought that was all. Now to also come into a facility that has world-class simulators where we can train, we can retrain, we can certify pilots of various grades.”

One Killed as Fire Razes 45 shops at Enugu Auto Parts Market GideonArinzeinEnugu

At least one official of the Enugu State Fire Service, who was identified as Mr. Chigozie Ugwu, has lost his life while trying to put out a blaze at the popular Enugu motor spare parts market, Coal Camp. Ugwu was among the team

that was deployed to stop the fire. According to eyewitnesses, the fire outbreak, which started at 1:10 a.m. yesterday, razed about 45 shops and destroyed goods worth millions of Naira. The Enugu State Chief Fire Officer, Mr. Okwudili Oha, who confirmed the death of Ugwu

said that his corpse had been deposited at the morgue of the Enugu State University Teaching Hospital (ESUTH). Oha said that Ugwu collapsed, moments after he and other officials had waged a two-hour battle to stop the fire, adding that the officer was pronounced dead on arrival

at the hospital. He said: “Ugwu was a dedicated officer who loved to lead by example. He was my best fire officer. He was not supposed to come to work because he was still recuperating from an illness. However due to his passion for the job, he decided to join the team.

Declare EbonyitheSouth Senatorial Seat Vacant, Akpabio Told PDP chieftain noted thatAkpabio’s thereby denying it of many benefits, provides thus: BenjaminNworieinAbakaliki

A former chairman of the Peoples Democratic Party (PDP) in Ebonyi State, Barrister Silas Onu has called on the Senate President, GodswillApkabio to officially declare the Ebonyi South Senatorial seat vacant. In a letter to the Senate President,

declaration would enable the Independent National Electoral Commission (INEC) to conduct election into the vacant seat. He noted that the appointment of Minister of Works, Senator David Umahi in August rendered the senatorial zone without a senator

rights and privileges. Barrister Onu stressed that it was unacceptable for the zone to stay over 116 days without a representative at the National Assembly. “This letter is pursuant to section 147 (4) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) which

“Where a member of the National Assembly or a House of Assembly is appointed as Minister of the Government of the Federation, he shall be deemed to have resigned his membership of the NationalAssembly or of the House of Assembly on his taking the oath of Office as Minister.”

‘Poor Policy Implementation Hampering Nigeria’s Agricultural Sector’ Segun Awofadeji in Bauchi

The President of Bauchi State Chamber of Commerce, Industry, Mines and Agriculture (BACCIMA), Mr. Aminu Muhammad Danmaliki, has blamed poor policy

implementation for the current woes of the agricultural sector in Nigeria. Danmaliki, who is also the proprietor of Malikiyya College of Health Science and Technology, Bauchi, stated this when he received in audience the officials of

the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ) Bauchi, on a courtesy visit in the premises of the college yesterday. The President of the BACCIMA, who expressed delight that members of the chapel are visiting him to synergise and

collaborate in the areas of economic diversification, encouraged his visitors to adopt economic diversification as second alternative. He said: “I am delighted to hear that you have taken serious steps to diversify, it is indeed good to diversify.”

Fayoade Takes Over as Lagos CP, Promises Tight Security ChiemelieEzeobi

Mr. Adegoke Fayoade, who yesterday resumed as the substantive commissioner of police(CP), Lagos State Police Command, has pledged water-tight security of the Centre of Excellence, especially during and after Yuletide.

Fayoade gave the assurance after taking over the baton of leadership from DCP Waheed Ayilara, who was in acting capacity after the promotion of the then CP Idowu Owohunwa to the rank of Assistant Inspector-General of Police(AIG). In his speech, Fayoade said the command would work in synergy

with other security agencies to secure all areas of Lagos through the air, land, and water and also check the perennial traffic in the state. Pledging commitment to dedication and principles of justice and community safety in Lagos, he said: “Residents of Lagos should go about their normal businesses;

they should enjoy Christmas and the New Year. “We are going to provide watertight security that will protect lives and properties. Our men will be visible in all areas, fun centres, our patrol will be very effective. Christmas and New Year will be crime-free.”

Kajola Dry Port to Create 40,000 Jobs, Says Ogun

JamesSowoleinAbeokuta

The Ogun State Government has described the recently approved Kajola Dry Port (KDP) as a game changer in the economy of the state with the expectation of creating at least 40,000 jobs for both skilled and

unskilled workers. The state government also assured stakeholders that their interests had been captured in the project, adding that the construction of the dry port would expand the state’s Internally Generated Revenue (IGR), reduce transport and transaction costs,

and attract various infrastructure and regional development projects, amongst others. This was disclosed by the Ogun State Commissioner for Transportation, Hon. Olugbenga Dairo, during a chat with journalists in Abeokuta.

Dairo, who said that efforts had reached advanced stage in actualising the Dapo Abiodun’s administration’s visionfortheKDP,PapalantoinEwekoro Local Government Area of state, said that the government is determined to make the state Nigeria’s first investment and business destination.

T H I S D AY • FRIDAY, DECEMBER 15, 2023

FRIdaysports

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

0811 181 3083 SMS ONLY

FIFA Best Awards: Haaland, Mbappe, Messi in Final Shortlist

Femi Solaja with agency report Odds are in the favour of Norway and Manchester City forward, Erling Haaland, to win the 2023 FIFA Best Award scheduled to be announced in January.

However, the gangling Norwegian will have to contend with France and PSG forward, Kylian Mbappe, and Argentina and Inter Miami icon, Lionel Messi. All three have been shortlisted for the men's player of the year

Uganda Halt Nigeria’s Quest for Cricket World Cup Ticket Hosts Uganda put up a staggering bowling performance to halt Nigeria’s hope of International Cricket Council (ICC) T20 Women’s World Cup Global Qualification, beating the West Africans by six wickets. The loss to hosts Uganda in the last Group B game sealed Nigeria’s fate after earlier beating Rwanda and hoping to pick a victory against the East Africans to contest for semi final spot. Sent into the game to bat by Uganda who won the toss, Nigeria batting line up struggled to score runs on the board as the host bowlers rattled to limit the side to 63/9 in 20 overs. Nigeria’s top order batters failed to take charge, losing their wickets in quick succession, leaving captain Blessing Etim 24(42) with the highest batting

performance. The home side, however showed why they are ranked 12 places ahead of Nigeria on the ICC table, winning by 66/4 with 24 balls left. At the end of the game, Etim acknowledged that the batting side hadn’t done enough. “Our plan in this competition was to play to win but it didn’t go our way, we have learnt our lessons and will go back to the drawing board “We have to correct a few things; our mindset, batting impression. Our batting didn’t go as we planned due to a few errors and that’s what we will work on back home,” she added. The duo of Uganda and Namibia qualify for the semi finals, with the hosts finishing top of the group with three wins.

Port Harcourt Polo Club Ready for Tourney in January The Port Harcourt Polo Club says it is ready to host players from within and outside Nigeria next January in what promises to be a glorious polo tournament. The Vice President of the club, who is also the tournament Chairman, Henry Agbojan, stated this in Port Harcourt while briefing sportswriters on the activities lined up for the NPA Port Harcourt Polo Tournament scheduled for between January 14 and 20, 2024. According to him, the polo tournament would have in attendance experienced players from all over Nigeria, in addition to foreign imports from England, Argentina, South Africa, among others. While stating that the polo tournament with the theme: Bonding Beyond Challenges,"would be an excellent mixture of polo and entertainment,” he stressed, adding that Rivers State would be in worldwide spotlight as Port Harcourt hosts array of international stars. "The polo tournament will portray Rivers State in positive light. You will witness good game of polo. We need the support of everybody to have an excellent atmosphere. On our part, we will be ready to offer a lifetime experience to players and visitors alike."

While also speaking, the President of Port Harcourt Polo Club, Ebi Diriyai, commended sponsors who have identified with the tournament. He said that since assuming office in July this year, the management committee has been working round the clock to organise a great event. "We are creating the ambience and what will benefit our sponsors. We want to show that Rivers State is safe and have an exciting tournament, game of games; we decided to carry the public along, take polo to the public and encourage participation, we want to play chukkas in universities, take younger generations into the game of polo," he stressed. While explaining that teams are fully committed to arriving Port Harcourt, Diriyai appealed for more sponsors to come on board and commended Rivers State government for support over the years. Dr Ikenna Nobolisa, who represented the tournament manager, disclosed that Port Harcourt Polo Club has one of the best pitches in Africa, pointing out that the lush green turf would be in superb state ahead of competition among various teams.

at the 2023 FIFA Best awards. In the female category, Aitana Bonmati, Linda Caicedo and Jennifer Hermoso are the finalists for the award. Julio Enciso, Guilherme Madruga and Nuno Santos were selected as the final three for the Puskas award, which is for the best goal of the year. The winners will be announced

Round of 16. Napoli coach Mazzarri said the entire team applauded Osimhen for his latest award. In the meantime, the striker’s agent Calenda is due to meet with Napoli President, Aurelio De Laurentiis, over a new contract for his client. Calenda was at the Champions League tie against Sporting Braga in Naples. The Napoli president has claimed again that Osimhen has

performances from 1 August 2022 to 20 August 2023 and includes Spain's 2023 World Cup victory. The men's award is for between 19 December 2022 - a day after the men's 2022 World Cup final - to 20 August 2023. National team coaches, captains, journalists and fans make up the list of voters.

Best Men's players Erling Haaland (Norway/Man City) Kylian Mbappe (France/Paris St-Germain) Lionel Messi (Argentina/Inter Miami)

Best Women's players Aitana Bonmati (Spain/Barcelona) Linda Caicedo (Colombia/Real Madrid) Jenni Hermoso (Spain/Pachuca)

RESULTS Europa League LASK 1-2 Toulouse U’St Gilloise 2-1 Liverpool Pana’kos 1-2 M’Haifa Rennes 2-3 Villarreal Roma 3-0 Sheriff Leverkusen 5-1 Molde

NPFL Rivers Utd 2-0 Bayelsa Utd

Liverpool came out of the clash with Belgian side Union Saint Gilloise the second best team after the youthful Reds were beaten 2-1 in their last Europa League Group E game on Thursday night

Sanwo-Olu Tips Eagles to Make Nigeria Proud in Côte d’Ivoire Hosts AFCON 2023 trophy in Lagos ahead of January kickoff

Lagos State Governor, Babajide Sanwo-Olu, has received the trophy of the 2023 Africa Cup of Nations (AFCON) ahead of the kickoff of the tournament in Côte d’Ivoire in January. The trophy, arriving from Morocco, touched down in Lagos yesterday. The AFCON trophy was presented to Sanwo-Olu by Visa team led by Vice President and Head of West Africa Cluster, Andrew Uaboi. Visa is the official digital payment provider approved by the Confederation of African Football (CAF). Receiving the trophy at the State House in Marina, SanwoOlu said the symbolic gesture reinforced the importance the

Napoli Coach Hails Osimhen Over New Contract Talks Victor Osimhen has been saluted by the Napoli Coach, Walter Mazzarri, just as the Agent of the Nigerian striker, Roberto Calenda, is set to meet with the Serie A champions over a new contract for the newly crowned Africa’s best player of 2023. Barely 24 hours after he was named Africa’s best player in Morocco, Osimhen flew back to Italy to score for Napoli to guarantee their place in the UEFA Champions League

on Monday, 15 January in London. Haaland, Mbappe, as well as Messi, were chosen from an initial list of 12. Barcelona and Spain midfielder Bonmati, 18-year-old Colombia and Real Madrid forward Caicedo, as well as Spain and Pachuca forward Hermoso, were shortlisted from 16 players. The women's award is for

agreed to extend his contract with the club even though this has yet to be confirmed by the camp of the player. Osimhen will be a top transfer target in the winter transfer window next month for some of Europe’s biggest clubs should a deal not be agreed with Napoli. His Transfermarkt value is 120 Million Euros, but Napoli will demand far in excess of this from suitors, who include several Premier League clubs.

nation attached to talent development, noting that Nigerians looked forward to interesting contest and exciting moments at 2023 AFCON. Sanwo-Olu tipped the Super Eagles to win the trophy, saying the national team had the physical skills needed to be victorious in the tournament. With the right player selection and proper preparation, the Governor said Super Eagles would make Nigeria proud. He said: “AFCON may be a continental competition but the platform has grown over the

years to be global brand. The world is patiently waiting for the opening match to kick off. We are looking forward to exciting moments when the competition starts in January. We are fully committed to making our team coming out strong and compete in the league.” While AFCON may be a global brand, Sanwo-Olu said he expected the Confederation of African Football (CAF) to inject local flavour in the contest. CAF, he said, should engage indigenous skills to help in diverse areas and make the

organisation of the game better. The Governor said Lagos would continue to support development of local football talents and sustain the excitement in sports. Uaboi thanked Sanwo-Olu for the hosting the team, noting that Lagos was chosen as the host of the trophy’s tour, given its position in the country as a hub for sports. The trophy will move to Egypt today and will crisscross all the 24 participating countries before landing in Abidjan - the host city for the January 13 kickoff date.

Top Seeds Progress to Next Round of Ikoyi Badminton Classics As the Badminton Hall of Fame became the talking point of the 3rd Ikoyi Club National Badminton Classics that began yesterday, top seeds are not taking chances as they have qualified for quarter finals of the Championship. Prominent among them is men's singles top seed and Africa/ Nigeria No. 1, Anuoluwapo Opeyori(Lagos) and Ibrahim Udewu (Bauchi). They qualified easily from Group A while Victor Ikechukwu(Rivers) and Habeeb Bello emerged from Group B. Also through to the quarter finals is national Number 2 seed, Shehu Aliyu (Niger State) and Emmanuel

Joseph (Rivers State). In the women's category, Nigeria's top seed and Mutual Benefit Assurance Badminton championship defending champion, Ruth Ebere(Edo State) and seed 2, Deborah Ukeh (Edo State) are also through to the quarter finals. Other women quarter finalists include, Naomi Tanko( Lagos), Sofiat Obanisola(Rivers), Jumoke Obasanmi (Lagos), Dorcas Adesokan (Ogun),Damilola Oyedepo(Oyo) and Aminat Ilori from Ogun State. me, men's singles top seed, Anuoluwapo Opeyori, said now that they have done with the group stage, the quarter finals is expected

to be a tough challenge since is a knockout stage. For the women's top seed, Ruth Ebere, she said "anything can happen as far as it is a competition". But come what may, winning is the only song on her lips. Meanwhile, President of the Badminton Federation of Nigeria, Bar. Francis Orbih has commended Ikoyi Club Badminton section for stagging the classics scheduled to end on saturday 16 December 2023. And assured that the Badminton hall of fame that will climax the classics on saturday is going to be bam as it is going to be the first of its kind in Nigeria.

28 TR

Friday, December 15, 2023

UT H

& RE A S O

Price: N250

MISSILE

NLC to Federal Govt

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& RE A S O

years

“It is clear that the main motive behind the plans for the proposed restructuring is none other than to prepare the Transmission Company of Nigeria (TCN) for eventual take over by the cronies and lackeys of the ruling elites. NLC believes that the President is making the same mistake previous administrations have made...in seeking to unbundle TCN for privatisation. The disaster that will befall the nation’s power sector would be multidimensional” –NLC President, Joe Ajaero, alleging plot to hand over TCN to cronies of the government, in the name of privatisation

SINCE 1995

AKINOSUNTOKUN

DIALOGUE WITH NIGERIA akinosuntokun@thisdaylive.com

The Return of Sunday Igboho

he incident that shot up Sunday Igboho to the vanguard of Yoruba self-determination struggle occurred in Igangan, a neighbouring country side town to the north of metropolitan Igboho. On account of this location, the general Oke Ogun community was prone to the incursion and invasion of the Fulani herdsmen terror of recent memory. One of the unacceptable dimensions of the crisis was the degradation regularly meted to the Yoruba victims embodied in the rampant campaign of sexual molestation and rape. This was the immediate spur to the emergence of the Sunday Igboho guerrilla insurgency. Members of a Fulani militia had charged into the palace of the Igangan monarch (who happens to be an uncle to Sunday Igboho) and requested the company of the olori (the king’s spouse) and daughter for a one week sexual rendezvous. There is a Yoruba proverb that says “Iku ya ju esin”- to die in honour is preferred to total degradation and humiliation. For Igboho, that was the last straw that broke the camel’s back. He launched his counter terror campaign the following day. Since the Igangan incident was more or less a Yoruba wide phenomenon, Igboho had his task cut out for him. Monarchs were no exception to the dehumanisation. At least, five are on record as victims of abduction. Not to talk of the repeated violation and kidnap of Chief Olu Falae. The report and its import might have eluded many but a day prior to the terrorist massacre of congregationalists during a church service at Owo, the Miyetti Allah association audaciously gave a heads up. In a coded message directed at the Governor of Ondo state, Rotimi Akeredolu, the chairman of the group, Bello Bodejo, “addressed a mammoth crowd of Fulani pastoralists from across Nigeria and beyond and rained curses on some state governors whom, he claimed, chased Fulani pastoralists away from their states using state systems, assuring them that peace will continue to elude them until they reverse their decisions and wholeheartedly welcome and accept the pastoralists as members of the society. We know our friends and enemies and we will act at the right time,” The siege on the South-West was begging for a leader capable of dominating the streets and Igboho rose to fill the vacuum. The campaign inevitably lit a fire of excitement and caught popular imagination across Yoruba land. Challenged by the gathering momentum and the prospects of the replication of Nnamdi Kanu’s IPOB, in Yorubaland, President Muhammadu Buhari directed a clandestine raid on the Ibadan residence of Igboho. The intervention ended in ambiguity. In the objective to abduct Igboho, the raid failed but it succeeded in halting the roller coaster momentum of the struggle towards the realisation of a putative Oduduwa republic. Were Igboho to be captured, it would have amounted to the climax of a security sting operation that had earlier resulted in the abduction of the Biafra champion Nnamdi

Igboho

Kanu in Kenya. The proclivity of seeking recourse to the extra judicial abduction of high profile politicians has been an abiding trademark of Major General Muhammadu Buhari. Those familiar with the history of military dictatorship in Nigeria would recall the precedent of the foiled kidnap attempt on Umaru Dikko by the Buhari/Idiagbon military regime. Benin republic is home to a substantial Yoruba population, who found themselves cut adrift from the parent Yoruba community in Nigeria by the arbitrary fiat of the 1886 Berlin conference. On account of this Yoruba consanguinity and proximity, Benin had become a sanctuary and staging post for the internationalisation of Yoruba political struggles. It was, once again, called upon to fulfil the same obligation to the fleeing Yoruba freedom fighter. The Benin republic is intertwined with Nigeria to the extent that Beninous president, Matthieu Kerekou actually sought the annexation of Benin by Nigeria during the Obasanjo military rule. For that matter, the second language in the francophone country is Yoruba. This filial relationship was not strong enough to preclude the arrest of Igboho but it was sufficiently sturdy to rebuff the extradition to Nigeria request of Buhari. At his release, three weeks ago, Igboho issued a statement in which he singled out a number of political grandees who proved crucial to his sustenance while in detention and ultimately facilitated his release and freedom for special tribute. “I give special thanks to President Talon of Benin Republic and all members of his cabinet. My gratitude goes to my heroic father, Professor Banji Akintoye, and Professor Wole Soyinka for their support in the course of the struggle. You promised to stand by me through my ordeal in Benin Republic and you have fulfilled your promise.“I will not forget to appreciate former President Olusegun Obasanjo, and Baba Ayo

Adebanjo for their roles, even though only God gives freedom”. As iterated, those who made the list include Professors Banji Akintoye and Wole Soyinka; President Olusegun Obasanjo and Pa Ayo Adebanjo. If these eminent Yoruba personalities had chosen to identify with Igboho then there is indeed a question mark on the future of Nigeria. Obasanjo, in particular, is a curious presence. If there is any Nigerian leader alive who personifies pan Nigerian nationalism, Obasanjo it is. If he now numbers high on the hierarchy of those who rally round Igboho in his hour of need, then Nigeria must have gotten geometrically intolerable. In the interim, a lot of water has passed under the Nigerian political bridge, mainly in the form of the election of Asiwaju Bola Ahmed Tinubu as the president of Nigeria. If Igboho excites curiosity on account of the Yoruba bulwarks who rallied round him, his release is equally noteworthy on account of the absence of a political figure who did not identify with him namely President Bola Ahmed Tinubu. Nonetheless, the Tinubu incumbency must have constituted positive pressure for his release and freedom. It is safe to assume that the Beninous authorities must have second guessed a no-objection stance of the Tinubu administration. The President’s strategy of distancing himself from Yoruba self-determination movement paid off in the regional support of his presidential aspiration by those ideologically opposed to any meaningful review of the constitutional status quo. More so, when it is remembered that Tinubu was hitherto at the vanguard of the purveyors of the restructuring of Nigeria. In a political signal to the effect that he was beating a calculated retreat from any tendency that was antagonistic to the political status quo, he disavowed the attribution of the degenerate security situation in the South West to the Fulani herdsmen violation of Yoruba land. To emphasise this position and in demonstration of a penchant for miscue, he chose the occasion of a condolence visit to Chief Rueben Fasoranti at Akure to question the notion that Fasoranti’s daughter (Funke) was murdered by Fulani wayfarers. He reasoned that the absence of cows at the vicinity of the murder is exculpatory of the Fulani suspects (as encapsulated in his infamous taunt, “where are the cows?”). The political evolution of Nigeria is at another critical juncture and requires a situation report on the prospects of the make or mar decentralisation and devolution of powers. The struggle for constitutional reforms and restoration of federalism in Nigeria has remained immobilised by the depredations of power politics. It is always going to be tough to get the voluntary buy-in of personal (elected presidents) and ethno regional beneficiaries of the extant quasi-unitary state into a federalism restoration agenda. Ironically, federalism themed resistance to the political status quo has been dampened by the exit of Buhari and the entry of Tinubu as President. The Buhari presidency was a veritable indication of all that was constitutionally and politically wrong with

Nigeria. He constructed his presidency as a conspicuous and provocative bulwark against federalism-allied equity, fairness and justice and redefined federalism as the irreducible minimum constitutional reform. Buhari trenchantly and persistently clarified that the over-centralisation of power at Abuja was a sure bet to unravel Nigeria, sooner than later. He was more divisive and parochial than all his precedents put together and exemplified the nativist politics of institutionalised discrimination, of we versus them. He even contemplated the departure gift of ensuring the emergence of another Northern Muslim as his successor. Mercifully, he was thwarted by the APC governors from the North albeit for their own selfish reasons. It was predictable that the election of Tinubu was going to further polarise the Yoruba into conflicting camps. There are those who see his emergence as an end to itself; as a fulfilment of the Yoruba turn at exploiting the Nigerian presidency for nepotism, self-aggrandisement and wholesale subscription to the Buhari model. There is a segment who contemplate his presidency in terms of his instrumentality to the cause of realising the review of the Nigerian constitution towards the restoration of federalism.Then there are those who see in him a contradiction and misrepresentation of the Yoruba ethos of equity, fairness, justice and meritocracy. Further weakening the resolve to push for restructuring is the emergent phenomenon of the twin factors of “state capture and weaponization of poverty”. It consists of the impoverishment of the masses to the point of stupefaction, in which their attention is totally consumed by the existential crisis of economic survival; scrounging for crumbs from whichever table it may fall and lacking the will to politically assert themselves. It is “the use of economic deprivation and poverty as a tool for exerting control, oppression, or conflict. It is a strategy often employed by powerful actors, such as governments or political groups, to manipulate and exploit vulnerable populations”. Akin to the Stockholm syndrome, a proof positive was the unbelievable spectre of rapturous thousands who trooped to welcome the notorious Senate president, Godswill Akpabio at the Uyo stadium for the celebration of, wait for it, his 61st birthday. Quite in character for Akpabio but whoever heard of rolling out the drums for the celebration of a 61st birthday? Under the same pressure of economic adversity, the elite are going to get more brazen and desperate in the confiscation and primitive accumulation of Nigerian resources. This was what the grossly self-serving 2024 national budget state presently before the national assembly is all about. In the vicious cycle in which Nigeria is trapped, without the willingness of a Nigerian President to drive requisite constitutional reforms, any restructuring agenda is dead on arrival. The seemingly blind unconditional partisanship of hitherto critical Yoruba voices meant that Tinubu would not be under pressure to lead the way towards a restructured Nigeria, anytime soon.

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