WEDNESDAY 20TH DECEMBER 2023 by THISDAY Newspapers Ltd

Zenith Bank Achieves Distinction as Sole Nigerian Brand on World Finance 100 Listing for 2023 Kayode Tokede Zenith Bank Plc has been listed in the World Finance 100 2023 released by World Finance Magazine, achieving the feat as the only Nigerian

company in the prestigious and exclusive listing. A statement yesterday, stated that Zenith Bank’s inclusion in the elite list underscored the bank’s outstanding achievements and resilience in

a dynamic and competitive global market. The World Finance 100 celebrates companies that have reached the pinnacle of achievement across a wide variety of fields of expertise.

Each year World Finance compiles the list of 100 companies, purely based on excellence in their field. The list presents the new business elite, made up of those whose vision and enterprise shapes the conceptual

landscape of finance, business and technology. Notably, Zenith Bank stands as the lone Nigerian company and one of just three African companies to earn a place on this esteemed list for

2023, alongside industry titans such as Apple, Amazon, and Alphabet. In his remarks, the Group Managing Director/CEO of Zenith Continued on page 16

Cash Crunch May Spark Violence, NLC Warns... Page 17 Wednesday 20 December, 2023 Vol 28. No 10479. Price: N250

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Sanwo-Olu Opens Ikeja Red Line Flyover L-R: Delta State SSG, Kingsley Emu; GMD of UTM Offshore Ltd, Dr. Julius Rone; Delta State Governor, Rt. Hon. Sheriff Oborevwori; Group CEO of NNPCL, Mele Kyari; and Minister of State Petroleum Resources (Gas), Hon. Ekperikpe Ekpo;at the signing of Shareholders' Agreement for UTM FLNG Project at NNPC Towers in Abuja, yesterday. Under the Agreement, NNPC, Delta State and UTM have 20%, 8% and 72%, respectively, of the project shares...

Governor Babajide Sanwo-Olu, yesterday, inaugurated the fourth flyover constructed along the Lagos Rail Mass Transit (LRMT) Red Line corridor, signifying the near completion of the 37-kilometre rail network connecting Lagos and Ogun States. Continued on page 16

PDP: There’s No Remedy for Embattled 25 Rivers Lawmakers Declares Abuja intervention false hope, impracticable assurances We'll continue to sacrifice for peace, Fubara vows Odili pledges support for gov Tinubu, others should turn to constitution, Falana advises Fubara didn't sign peace pact with Wike, says Clark Onokpasa: President never imposed peace terms on Rivers Chuks Okocha, Sunday Aborisade in Abuja and Blessing Ibunge in Port Harcourt The leadership of Peoples Democratic Party (PDP), yesterday, said President

Bola Tinubu’s intervention in the Rivers State crisis notwithstanding, there was no remedy for the 25 PDP House of Assembly members, who Continued on page 16

TotalEnergies’ future investment programme...

L-R: Patrick Pouyanné, Chairman and CEO of TotalEnergies recently paid a visit to President Tinubu and the Group CEO NNPC Limited. During the visit, Pouyanne discussed ways to improve the investment climate and security of operations, TotalEnergies’ future investment program in the country as well as TotalEnergies efforts to support carbon emissions reduction in Nigeria.

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

NEWS

CORONATION OF SOUN OF OGBOMOSO...

L-R: Osun State Governor, Senator Ademola Adeleke; former Vice President, Prof Yemi Osinbajo; Soun of Ogbomoso, Oba Ghandi Olaoye; his Olori, Omo and Oyo State Governor, Seyi Makinde, during the official coronation and presentation of staff of office to Soun by Governor Makinde, held at Ogbomoso Stadium.

NNPC, TotalEnergies Sign MoU on Adoption, Deployment of Methane Detection Technology

NCDMB inaugurates gas recovery package funded by IOC, JV partners TotalEnergies MD harps on optimisation of contracting cycle

Emmanuel Addeh in Abuja and Olusegun Samuel in Yenagoa The Nigerian National Petroleum Company Limited (NNPC) yesterday announced the signing of a Memorandum of Understanding (MoU) with TotalEnergies for the adoption and deployment of a methane detection technology, the Airborne Ultralight Spectrometer for Environmental Application (AUSEA), in all its upstream operations. With the agreement, which was a direct benefit from the company’s participation at the recently concluded COP28 in Dubai, UAE, the NNPC said it would be able to deploy the TotalEnergies AUSEA technology in its upstream operations sites. According to a statement by the Chief Corporate Communications Officer of the NNPC, Olufemi Soneye, it would help ascertain the level of methane emissions from the operations, with a view to working out emission curtailment measures to help in combating global warming and climate change. The MoU, Soneye said, was signed by the NNPC’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, and Managing Director and Country Chair, TotalEnergies EP Nigeria, Matthieu Bouyer, on behalf of their respective companies, under the watch of the Group Chief Executive Officer (GCEO) NNPC, Mele Kyari, and Chairman and Chief Executive Officer of TotalEnergies, Patrick Pouyanné.

Speaking on the collaboration at the MoU signing event, Kyari described TotalEnergies as a great and reliable partner over the years with whom the company was looking forward to exploring greater opportunities in the nation’s energy sector. On his part, Pouyanné, said his company was offering the technology to NNPC in keeping with its commitment to promote responsible production of hydrocarbons. He applauded NNPC for its successful transition into a limited liability company, stressing that he could see and feel the energy that the reforms had brought about, not only in the company but also in the sector. Putting the deal in proper perspective, NNPC’s Eyesan, said the pilot phase of the TotalEnergies AUSEA deployment would be on NNPC’s owned operations, adding that the deal would enable the company to deploy methane abatement measures. Other benefits of the TotalEnergies AUSEA technology, the company said, include identification of unaccounted emission sources, establishment of a basis for querying and improving current emission reporting processes, provision of data to review operational system and implement corrective actions as well as estimation of flare combustion efficiency. Meanwhile, the Nigerian Content Development and Monitoring Board (NCDMB) has conducted the load-out ceremony of OML 100

skided ejector package, fabricated and assembled by an indigenous company, Wilkriss Nigeria Limited for residual gas recovery. Speaking in Port Harcourt, Rivers State at the ceremony, the Director, Monitoring and Evaluation at the NCDMB, Abdulmalik Halilu expressed the board’s excitement to see companies make significant breakthroughs in the fabrication space. He commended TotalEnergies and its Joint Venture (JV) partners, sponsors of the project for providing an opportunity for capacity utilisation

by an indigenous company, just as he lauded Wilkriss Limited for the top-notch quality in project execution. He also counselled the management of Wilkriss Limited to sustain the quality assurance attainments already made as evidenced by all the ISO certifications. “NCDMB has conducted a baseline census in fabrication yards and we’ve seen a major trend in terms of burst and boom era, in terms of capacity utilisation. So we try as much as possible to give premium attention to fabrication yards to ensure that there’s a healthy pipeline

Investors in the Liquefied Petroleum Gas (LPG) sector in the country yesterday expressed concern over the delay in the implementation of the recent announcement of exemption of Value Added Tax (VAT) on the commodity. They urged the Comptroller General of the Nigeria Customs Service (NCS), Mr. Adewale Adeniyi to explain the rationale for the reluctance in the execution of the presidential directive. Chairman of the LPG stakeholders freight, Kabir Babawale, who spoke with journalists in Ilorin, Kwara state,

said that the LPG storage tanks of many of his members under the code of 73111.00.00.00 were lying at the ports with increasing demurrage on daily basis. "Will the customs pay for the demurrage now that it has refused to obey the directive of the presidency? We are anxiously awaiting the implementation of this directive," he said. Babawale, while thanking President Bola Tinubu for what he described as his proactive decision on the exemption order, said he believed that the development would boost the has penetration policy of the government and ease

in-country with a workforce, which included six-G-certified welders, that were 100 per cent Nigerian. While commending TotalEnergies for being “very supportive” at all stages of the project, he said both companies were able to agree on materials that could be procured locally. In the meantime, Bouyer has called for the adoption of categorisation as a form of streamlining and screening in oil and gas industry, saying it was one of the ways to optimise the industry’s contracting cycle.

Petroleum Ministry Defends N9.6bn Budget, Sets Up Innovation C'ttee Emmanuel Addeh in Abuja The ministry of petroleum resources, led by the Minister of State, Petroleum Resources (Oil), Senator Heineken Lokpobiri and his gas counterpart, Ekperikpe Ekpo have defended the ministry’s budget of N9.641 billion before the joint committees of the Senate and House of Representatives on Petroleum Resources. A statement by the ministry quoted Lokpobiri as explaining that the ministry’s 2024 budget proposal was a substantial improvement on the 2023 budget.

He also emphasised that the ministry of petroleum resources was more of a policy-driven ministry and does not execute projects that address given concerns. Lokpobiri cited the Host Communities Fund (HCF) provided by the Petroleum Industry Act (PIA) targeted at addressing the concerns of oil producing communities as critical to developing the Niger Delta, according to a statement by the Deputy Director of Press and Public Relations, Oluwakemi Ogunmakinwa. The minister explained that

Investors Express Concern over Delay in Implementation of LPG VAT Exemption

Hammed Shittu in Ilorin

of opportunities for them to sustain the operations of the yards,” he said. He added: “We know Nigeria has signed on to net zero carbon emission by 2060…. So this project which seeks to reduce gas flaring - ultimately that means carbon emission - is part of the global momentum we have today around decarbonisation and net zero.” An Executive Director of Wilkriss, Naaba Umahi, said it marked a major milestone not only for the company but the industry and the country, given that a project of such magnitude could be executed

the high cost of domestic cooking gas in the country. He added: "As investors, we are ready to commit more into the business, but before then, we are anxiously awaiting the implementation of this directive. Or Can we begin to insinuate that there is a parallel body to the federal government?" In a move aimed at making cooking gas more affordable for Nigerians, the federal government had some days ago announced the exemption of the LPG imports from VAT and customs duty. The decision, communicated through a letter from the ministry of

finance, is expected to significantly reduce the cost of cooking gas for households and businesses across the country. The federal government had decided to waive customs duty and VAT on import of the commodity and its accessories to crash the price of the LPG nationwide. The report said the ministry of finance conveyed the decision in a letter dated November 28, 2023, and addressed to several officials, including the Special Adviser to the President on Energy, the Comptroller General of Customs, and the Chairman of the Federal Inland Revenue Service (FIRS).

government had a number of agencies that were mandated to carry out different responsibilities, while the ministry provided policies that would guide the operations of the companies that are doing business in the oil and gas industry. He therefore assured the legislators that the concerns they expressed would be taken to the appropriate quarters and see how those concerns would be addressed. In his opening remarks at the sitting, the Chairman Senate Committee on Gas, Senator Jarigbe Agom, said it was the duty of the joint committee to ensure the effective allocation of resources for the advancement of the country’s petroleum sector. He added that the oversight function was predicated on fostering transparency, efficiency and sustainable development within the ministry, the Nigerian National Petroleum Company Limited (NNPC) and its subsidiaries. The minister urged all stakeholders to engage in open dialogue and provide insightful inputs that would contribute to the formulation of a budget that aligns with the national priorities. The statement added that the legislators raised a number of reservations about some inadequacies and shortcomings of the budget proposal. Specifically, they frowned at the “paltriness” of the budget proposal as it didn’t capture the refineries and also failed to include other initiatives aimed at alleviating the sufferings of Nigerians, occasioned

by the removal of subsidy on petrol. Meanwhile, the Permanent Secretary, Ministry of Petroleum Resources, Gabriel Aduda, has charged the newly inaugurated members of Innovation Committee to come up with a new vision for the ministry to replace the old ones. The permanent secretary, a statement from the Assistant Director of Information, Chris Ugwuegbulam, said gave the charge at the inauguration of the committee in Abuja. He was represented at the event by the Director, Human Resources Management Department in the ministry, Mrs. Asma'u Adaji. Aduda stated that members of the committee were carefully chosen by their various directors and heads of units with the belief that they would effectively and efficiently drive the process. The permanent secretary pointed out that innovation is the driving force that propel societies towards breaking the shackles of status quo and ushering in a new era of knowledge and development. "It also enables civil servants to undertake government's programmes and activities using internet and smart electronic devices to achieve results fast and more efficiently," he stated. The mandate included linking departmental vision with ministerial mandate; understudying other oil producing nations with a view to introducing best practices and engaging in comparative analysis of other oil producing countries.

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NEWS

Celebration of the good and industrious Igbo...

L-R: Former Chief of Naval Staff, Admiral Allison Madueke (Rtd.); Chairman/Editor-in-Chief, Arise News and THISDAY, Prince Nduka Obaigbena (Awardee); former Chief of Naval Staff, Vice Admiral Dele Ezeoba (Rtd.); Founder/Chairman Zinox Group, Prince Leo Stan Eke (Awardee); Princess Nkiru Anumudu and Dr. Chris Ngige, (Awardee), during the celebration of the good and industrious lgbo who are resilient in their field of works at the end of the year get-together and recognitions organised by the AKA IKENGA, The lgbo Think Tank in Lagos...recently

CBN Mulls Regulations against Climate Risks to Drive Sustainable Banking Principles Says 2005 banking sector recapitalisation enabled Nigeria to cope with global financial crises

Dike Onwuamaeze The Central Bank of Nigeria (CBN) yesterday, disclosed that it was considering introducing regulations that would strengthen the practice of sustainable financial principles in the Nigerian banking system. This was disclosed yesterday, in Lagos, by the Governor of CBN, Mr. Yemi Cardoso, who was represented by the Director, Financial Policy and Regulation, CBN, Mr. Haruna Bala

Mustafa, at the Nigeria Sustainability Summit 2023 with the theme “Crisis Resilience and the New Nigerian Economy.” The summit was organised by Access Holdings Plc in partnership with the European Sustainable Development Organisation (EOSD) and Financial Nigeria. Mustafa, said that, “there is an ongoing effort to come up with regulations around climate related risks and I think it mirrors the trend

globally. “It is not yet official but we are mulling the idea of coming up with a regulation around climate risks to strengthen it and align it to national determined contribution and the energy transition plan.” He said Nigeria commenced the observation of sustainability banking principles 10 years ago as a voluntary initiative, adding that, “in the context of the prevailing circumstances that we now face, and in the context of

the existential threats that climate risks pose to the stability of the financial system, and also in the interest of long term sustainability of the industry, I think it is just trite logic that the central bank will put its feet on the gas pedal in terms of that tectonic shift that we expect to see from a voluntary effort. “We want to take things a notch higher by way of regulation. So, there is an ongoing effort to come up with regulations around climate

MTN Nigeria Wins International Airship Altitude Awards Emma Okonji MTN Nigeria emerged as the winner of the Airship Altitude Awards recently held at the Mobile Leaders Forum in London. MTN Nigeria became the first African brand to win the Airship Altitude Awards.

The company won the award for its mobile app, 'myMTN NG,' a free application designed to simplify the mobile experience of its subscribers. Airship, acknowledged as the leading mobile engagement platform for enterprise brands worldwide, celebrates brands delivering personalised and effective in-app

Obaseki Approves Free Health Insurance for Edo Pensioners, Vigilante Operatives The Edo State Governor, Mr. Godwin Obaseki, has approved the provision of free health insurance for pensioners in the state to cater to the health needs of the senior citizens. The Director General of the Edo State Health Insurance Commission, Dr. Rock Amegor said the free health insurance service will also cover operatives of the State’s Security Vigilante Network. Amegor, who disclosed this while briefing journalists in Benin City, said the government was committed to ensuring quality and affordable healthcare delivery, noting that the service will mitigate out-of-pocket spending for the beneficiaries and facilitate the attainment of Universal Health Coverage for all residents. Hailing the governor as a pacesetter, Amegor said the government has set out N1 billion to cover the free health insurance service to the pensioners and vigilantes, among others. “As part of the government’s initiative for Universal Health Coverage for citizens of the State, Edo State Government led by Governor Godwin Obaseki has decided to cover pensioners across the 18 local government areas of

the State free of charge. This initiative has been borne out of the economic downturn as pensioners who have served us should not worry about paying out-of-pocket when they get to the health care facilities as it brings stability to the pensioners. “The service covered is a robust medical care that can take care of about 70 to 80 per cent of all medical challenges expected at one point in our lives and the services include medical, eye care and dental care amongst other care,” he said. He added: “The government of Obaseki has been digitalised and most of our information from September 1 are now in our electronic system and we are lifting all the over 11,000 details we have gotten from our ICT and will verify those who are alive, relocated, those who need to update their profile. “After this, in the first quarter of next year, we will reach out to pensioners and allocate facilities closest to their houses. We need to scrutinise the details as service has started for over 200,000 enrolees. So, to on-board the 12,000 pensioners into the scheme will not be difficult for us.”

experiences. Annually, Airship customers globally submit their best mobile strategies, app experiences and crosschannel campaigns for consideration in the Altitude Awards. Judges assess each submission against defined criteria, including performance, amplification, innovation, ease of use and overall contribution to the mobile ecosystem. In this year’s event, 12 companies were nominated for consideration from various continents across the world. Some of the nominees were Warner Media, Orange, Regiocast and others. MTN won in the ‘Acquisition Category’ which recognises the brands that leverage exceptional acquisition strategies to drive App downloads. The company became the first African brand to receive the award. Commenting on the award, MTN Nigeria’s Chief Customer Relations Officer, Ugonwa Nwoye said: “Winning the Airship Altitude

Award is a tremendous honour for MTN Nigeria, and it truly reflects our dedication to providing innovative and customer-centric solutions. “The recognition of our mobile app, 'myMTN NG,' reinforces our commitment to simplifying the mobile capabilities for our subscribers. "The Airship awards celebrate brands that excel in delivering personalised and effective in-app experiences, and we’re proud to be acknowledged. This achievement underscores the impact of our acquisition strategies in driving app downloads and enhancing the overall mobile ecosystem.” MTN Nigeria has won several reputable recognitions recently including the Africa-America Institute’s 2023 Corporate Responsibility Award, the SABRE Awards for its recognition in public relations and communications, the Nigerian Exchange Limited (NGX) award as the most compliant listed company, among others.

related risks. It is not yet official but I think it mirrors the trend globally.” According to him, the CBN’s commitment to sustainability banking is total, which it viewed as a matter of strategic imperative. “Back in 2012, the CBN lead the charge in terms of statement of commitment to nine sustainable banking principles, which we have been implementing. “More recently we are looking to taking things to a much higher level by incorporating climate related considerations in those principles that are part of the global drive toward cleaner energy and net zero commitments and so on. We are cueing in to that global effort to evolve a better future for this and coming generations,” he added. The central bank also said there was an obvious need to increase the current capital requirement of N25 billion for owning a banking licence, which has reduced significantly from about $200 million in 2005 to about $25 million currently. Mustafa said: “The traditional function of capital is to cushion and absorb unexpected losses. It was as if the governor of CBN in 2005 saw tomorrow because just two years down the road the global financial crisis hit. But for that proactive move the second round effect of that crisis would have wiped off a number of banks and that would have had deleterious consequences for the stability of the Nigerian banking system. “Now in 2023, here we are in the face of prevailing macroeconomic challenges that we currently face and to be able to cushion unexpected losses and support the aspiration of the current government to build

$1 trillion economy that is rooted in sustainable principles, we need to take a second look at the capitalisation of our banks.” In her welcome address, the Head, Group Sustainability, Access Holdings Plc, Ms. Omobolanle Victor-Laniyan, said the summit would address the imperative of fostering sustainability across Nigeria’s private sector. Victor-Laniyan said: “The private sector has a pivotal role to play, leveraging its resources, innovation, and influence to drive positive change. It is in this spirit that we convene the Nigerian Sustainability Summit, to harness the expertise, resources, and innovation within our reach. “Today, we come together under the theme, ‘Crisis Resilience and the New Nigerian Economy.’ This for us serves as a call to action, urging us to collaborate, and devise strategies that will position Nigeria at the forefront of the charge towards achieving Africa’s sustainability objectives. “The private sector, with its dynamism, influence, and commitment, holds the key to driving meaningful change that will positively impact the environment, society, and our economy.” In his keynote speech, Chief Executive Officer of EOSD, Mr. Arshad Rab, envisaged that sustainability certified financial institutions and their counterparts in corporate Nigeria should be the organisations to provide leadership in building an economy that delivers opportunities for Nigerians and “enable Nigeria move from conventional development to 21st century high speed, high innovation economic growth.”

House Urges IG to Implement Recommendation of PSC on Promotion of Officers Juliet Akoje in Abuja

The House of Representatives has urged the Inspector General of Police to immediately implement the recommendation of the Police Service Commission (PSC) with respect to the promotion of concerned men and officers of the Nigerian Police Force. This followed the adoption of a motion calling for the implementation of the Recommendations of the Police Service Commission moved by Kingsley Chinda at plenary. Presenting the motion, Chinda noted the incidents of non-

implementation by the Inspector General’s recommendations by the PSC for the promotion of qualified officers and men of the Nigeria Police Force (NPF). He further noted that earlier in 2023, the PSC, in the exercise of its statutory responsibilities, at one of its meetings approved the promotion of several police officers, a notice of which was duly conveyed to the IGP to release signal and accordingly effect the same. Cognisant of the fact that the IG subsequently ignored the PSC recommendation and deliberately neglected and/or refused to effect

the release, despite measures taken by the PSC for him to do so. Furthermore, he raised a concern that the IG's refusal to act on the PSC's recommendation was not in the best interest of the men and officers of the NPF and the country at large. He added that unless swift measures were immediately taken to implement the PSC's recommendations, the morale, commitment, and dedication to duty of the affected men and officers of the NPF were likely to be negatively affected. The House however mandated

its committees on police affairs and legislative compliance to ensure compliance and report back within four weeks for further legislative action. Earlier, the Speaker of the House of Representatives, Hon. Abbas Tajudeen had urged various committees that were unable to finish their budget defence to do so and submit reports latest by 8pm yesterday. "I also want to inform you that the official day for the passage of the budget would be slated for Saturday 30, December, 2023,” he added.

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NEWS

Pulling-out ceremony of Muri-Okunola from State Civil Service...

L-R: Elegushi of Ikateland,Oba Saheed Elegushi, Kusenla III; Hon. Oladele Ajayi; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Ex-Head of Service (HOS) in Lagos, Mr. Hakeem Muri-Okunola; his wife, Abisola; Governor of Kwara State and Chairman of Nigeria Governors’ Forum, Alhaji AbdulRahman AbdulRazaq and HOS Lagos, Mr. Olabode Agoro, during the pulling-out ceremony of Muri-Okunola from the State Civil Service at the Adeyemi Bero Auditorium, Secretariat, Alausa, Ikeja, .. yesterday

House: Nigeria Loses $7bn Annually to Inefficiencies, Poor Management of Seaports Adedayo Akinwale in Abuja The House of Representatives has said Nigeria loses an estimated sum of $7 billion annually due to poor management and inefficiencies of the nation's seaports. To this end, the House has mandated its Committees on Port and Harbours, National Planning and Economic Development, Maritime Safety Education and Administration and Nigerian Shippers' Council to investigate the gaps affecting the full realisation of the economic advantage of Ports and Harbours and other Blue Economy in Nigeria. The resolution of the House followed the adoption of a motion on ‘the Need to Investigate Gaps

and Loss of Opportunities in the Maritime Sector,’ moved at plenary yesterday, by Hon. Julius Ihonvbere and Hon. Ibrahim Isiaka. Moving the motion, Ihonvbere said the maritime sector was crucial for the Nigerian economy's survival with under-utilised seaports which could increase the nation's revenue and indeed the National Gross Domestic Product (GDP). He said: "Nigeria's seaports receive barely 10 per cent of West African imports out of 60 per cent destined for Nigeria, a significant economic loss due to poor management and inefficiencies, estimated to cost $7 billion annually." The lawmaker expressed concern that most ships prefer to go to other

ports other than Nigerian ports. Ihonvbere, added that Benin Republic benefits from Nigeria's large market, while Cotonou remains a popular importers’ haven, while huge trade cargoes are lost to Togo and other neighbouring countries from where they are offloaded and transshipped to Nigeria due to poor shipping connectivity and shallow drafts of the port channels which lead to trade cargo losses, estimated to be N250 billion in 2016 alone. The lawmaker wondered why

the nation was unable to provide adequate infrastructure and reduce pressure on Lagos ports and why the Calabar, Port Harcourt, Warri, and Koko ports cannot be developed as a haven for importers in the region. He expressed worry that lack of adequate infrastructure and capacity in the growing cargo and maritime business was a significant issue. The lawmaker noted, "Disturbed that Nigeria's Apapa Port lost West Africa's leading position due to congestion and poor quality services

to shippers. Port of Lomé, with a capacity of 1.1 million twenty-foot containers, overtook Lagos Port due to modernisation reforms which tripled its capacity from 311,500 containers to 3.1 million, thus, making 'Togo's Port of Lomé becoming a regional transit hub; "Also disturbed that Nigeria's Apapa Port, Lagos, which handles about 1 million TEU annually, lost 30 per cent of its container traffic over five years due to several factors bedevilling its inability to deliver

efficient services to cargo owners, this explains why Nigerian ports have remained inefficient over the years." Ihonvbere said Nigeria's major seaports in Lagos do not have deep draughts to handle bigger vessels, while modern seaports in Port of Lomé have a depth of 16.60 meters and capacity to accommodate third generation ships, while Apapa port operates with a 13,5 meters draught that could only allow vessels with about 4,000 TEUs of containers to call the port.

Telcos to Bar Subscribers’ Lines FG Inaugurates Sub-c'ttee Not Linked to NIN Before Feb on Sanitation, Hygiene

Folalumi Alaran in Abuja The federal government has inaugurated a 23-man sub-committee to consolidate fragmented policies into a comprehensive document, covering all aspects of Water Sanitation and Hygiene (WASH) in Nigeria. Director of Water Supply and Support Services, Ministry of Water Resources and Sanitation, and the national chairman WASH policy development committee, Nicolas Madu, who spoke in Abuja, said the decision was made to elevate sanitation and hygiene to the same importance as water supply. He also said the decision to formulate a comprehensive national wash policy was prompted by the combined insight of the minister of water resources and sanitation and the minister of environment, leading

to the establishment of a technical committee for policy review and development. Madu added that sanitation sub-committee will have additional time and resources to discuss the issues thoroughly and provide well-informed advice to the main committee. Madu said the members of the sub-committee were seasoned professionals and bureaucrats selected from across the Ministries, Departments and Agencies (MDAs), states as well as professional organisations. “It comprises 42 members from various government ministries, civil societies, and donor agencies. This diverse composition aims to ensure that the perspectives of all stakeholders in the WASH domain are considered in the development of policy documents.

Emma Okonji

The Nigerian Communications Commission (NCC) has given orders to telecoms operators (Teicos) to commence full barring of all unregistered and improperly registered SIM cards on their networks that have not been linked to the National Identity Number (NIN) of the SIM card holder. The NCC's directive mandates telecoms operators to commence full barring before February next year. Before now, operators were allowed to bar only outgoing calls for all unregistered and improperly registered SIM Cards that were not linked to NIN, thus allowing such SIM Cards to only receive calls without the ability to generate calls. Chairman, Association of Licenced Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, who confirmed the new directive from the NCC,

advised subscribers yet to register their SIM cards and yet to link their SIM cards to their NIN, to do so immediately to avoid total disconnection. Adebayo in a statement released by ALTON yesterday, stated: "We therefore, wish to appeal to esteemed subscribers to kindly enrol for NINs or submit their NINs through the appropriate channel advertised by members to avoid full suspension of services." MTN, which also received the NCC's directive to commence barring of SIM cards before February next year, disclosed that it would comply with the directive. In a statement released by MTN Nigeria yesterday and signed by the company's Secretary, Uto Ukpanah, the telco said: "MTN Nigeria Communications Plc hereby notifies the Nigerian Exchange Limited and the investing public that the company received a formal directive

from the NCC to implement full network barring on all phone lines for which the subscribers have not submitted their national identity numbers (NINs) and those whose NINs are unverified. “This is part of an industry-wide directive that requires phone lines for which the subscribers have not submitted their NINs to be barred on or before 28 February 2024. “With regard to NINs that have been submitted but not verified, such lines are to be barred on or before 29 March 2024, where five or more lines are linked to an unverified NIN. Similarly, where less than five lines are linked to an unverified NIN, such lines are to be barred on or before 15 April 2024. All affected subscribers must be verified (biometrics and biodata) before their lines are unbarred. “This is a follow-up to the NCC’s directive on 4 April 2022 requiring operators to restrict outgoing calls

(one-way barring) for subscribers whose lines are not associated with NINs." The statement further said:" We are further engaging the affected subscribers through all our channels to encourage them to submit their NINs for verification. “As part of these efforts, we are enhancing the capacity of our various service outlets to make the process smoother and more efficient. We are committed to ensuring that our subscribers comply with the NCC directive and will continue to work with the National Identity Management Commission (NIMC) to accelerate the NIN verification process. “We appreciate the effort being made by the federal government to implement a reliable and sustainable National Identity Management system, which is a crucial enabler for national and economic development.”

At Christmas Carol, Mrs Tinubu Urges Prayers for Peaceful 2024 Kalu seeks reconciliation among people Ooni canvasses resilience amid tough times CAN president preaches reconciliation

Deji Elumoye in Abuja

The First Lady, Senator Oluremi Tinubu, has called on Nigerians, especially the clergy to pray for the country, declaring that 2024 would be a year of peace. Mrs Tinubu, who spoke yesterday at the 2023 Service of Nine Lessons and Carols with the theme: “Immanuel, Our Hope of Glory” at the State House, Abuja, said, "I want to appreciate you, we can only covet your prayers. I believe the best is now in Nigeria. We shall experience and see it." According to her, "2024 is the year

of peace, Nigeria will take her place in the comity of nations." In his remarks on the occasion, Deputy Speaker of the House of Representatives, Hon Benjamin Kalu, said with the elections over, Nigerians from all political divides must reconcile for the nation’s progress. His words: “Peace is all the season represents. The Prince of Peace was given birth to. So, those who are angry, agitated and interested in violence should drop it. “Let us forgive one another, Let us get reconciled to our families, communities, states and the nation.

“We are believing that 2024 will bring what we have never seen before – the prosperity that will amaze us.” Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II,while speaking, said though the times seemed tough economically, Nigerians could weather the storm through the resilience they were known for. "My message to Nigerians is that we should continue to look up to God. Yes, things are tight, we all know. But there would be succour. That’s our prayers. All the traditional rulers are joining forces towards this. “In this festive season, we continue

to pray to God for things to be better. We’ve been very resilient, and the resilience will continue to uphold us. “When things get better, we will have more time to enjoy the fruit of our labour," he said. On his part, President of the Christian Association of Nigeria (CAN), Dr Daniel Okoh, said this Christmas promised to bespecial in Nigeria because it would be the first after the elections that produced President Bola Tinubu and affirmed by the Supreme Court. He said Nigerians were looking forward to this year’s Christmas with renewed hope, believing that

things wouldbe better saying. “I pray that things will indeed be better,” he said, stressingthat since the elections were over now and there could only be one president at a time, he therefore advised Nigerians to support the current administration. He urged all Christians to be champions of reconciliation and not crisis and division, saying, “We must love our enemies. This is not the time to pull others down but to build. Let us rally round our political leaders to ensure speed of delivery.” Former Head of State, General

Yakubu Gowon; former President Goodluck Jonathan, their spouses, Victoria Gowon and Patience Jonathan; President of the Senate, Senator Godswill Akpabio and his wife, Ekaette Akpabio, were among the dignitaries who joined the First Lady at the service. Other were the Secretary to the Government of the Federation, Senator George Akume; Head of Service of the Civil Service of the Federation, Dr (Mrs) Folashade Yemi-Esan; members of the Federal Executive Council, members of the diplomatic corps and traditional rulers, among others.

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WEDNESDAY, DECEMBER 20, 2023 • T H I S D AY

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Uchegbu: As a Single Parent with 3 Kids, Getting a PhD in UK was Hard

Emmanuel Addeh in Abuja

Nigerian-born professor of pharmaceutical nanoscience, Ijeoma Uchegbu, who was recently elected president of Wolfson College, one of the 31 colleges of the University of Cambridge, has narrated how she survived the gruelling task of getting a PhD, even as a single parent with three children in the UK. Speaking on Arise Television yesterday, Uchegbu, renowned for her innovative work on nanoparticle drug delivery, stressed that developing some coping mechanisms helped her surmount the challenges at the time. She noted the situation was further

compounded because she wasn’t from a rich background and had to, as it were, cope by cancelling one form of stress with another. “Talking about proudest moments, it had to be when I became a professor. So, I joined the university in 1997. That was a university in Glasgow and Strathclyde. And I actually started my PhD quite late. When I started my PhD, I was 30 years old, so I was quite a mature student, and I was a single parent of three young children doing a PhD, which was quite unusual. “And when I finished my pitch, I had no belief that I would possibly become a successful academic. And so when I became a professor after

five and a half years, which was quite fast in the UK, I felt really proud then, and actually, when I got the news that my application for promotion had been successful, I burst into tears. “I was so moved by that. So, that for me was something I was I was incredibly proud of, that I had made it in a very short order because I felt I had to really rush and keep up with my peers who were about six or seven years younger than me,” she narrated. Although she admitted that some close relations helped to douse the stress in those early days, she described the period as “difficult”. “So, it was hard. We were very

PDP: There’s No Remedy for Embattled 25 Rivers Lawmakers recently defected to All Progressives Congress (APC). National Chairman of PDP, Ambassador Illya Damagum, who alluded to the place of the constitution in matters of defection, and insisted that there was no crisis in the party, both at the national and state levels, also said the Abuja intervention raised false hope and gave impracticable assurances. But the state governor, Siminalayi Fubara, said no amount of sacrifice was too much for peace, and pledged to continue to make sacrifices for peace in the state. Pro-Chancellor and Chairman of Council, PAMO University of Medical Sciences, Dr. Peter Odili, pledged the institution's support for Fubara. However, human rights activist and lawyer, Mr. Femi Falana, SAN, advised the president and other stakeholders in Rivers State to turn to the constitution, because Monday’s intervention by Tinubu was purely advisory and not in sync with the laws of the land. In a related development, elder statesman and leader of the Ijaw nation, Chief Edwin Clark, said information at his disposal revealed that Fubara did not sign any peace deal with the Minister of the Federal Capital Territory, Nyesom Wike, following the president’s intervention. Clark dismissed any information to the contrary as fake. Nonetheless, a lawyer, Jesutega Onokpasa, maintained Tinubu did not impose peace terms on parties

in the Rivers State crisis, as being insinuated in some quarters. Twenty-seven PDP state lawmakers had defected to APC on December 11, but two were said to have made a U-turn shortly after the announcement of their exit. Espousing the PDP position, Damagum insisted, "There is no remedy for the 25 former members of the Rivers State House of Assembly, who by virtue of Section 109 (1)(g) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), vacated and lost their seats by reason of defection from the PDP, the party platform upon which they were elected into the House of Assembly. "Our party insists that having now vacated and lost their seats, the only option available for the former lawmakers, if they wish to return to the House of Assembly, is to seek fresh nomination and re-election on the platform of any political party of their choice in line with the provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the Electoral Act, 2022. "The 25 former Rivers lawmakers freely and without any cause vacated their seats, being fully aware of the consequences of defection from the party upon which they were elected into the Rivers State House of Assembly, without the conditions stipulated by the 1999 Constitution.” The PDP national chairman stressed, “For the avoidance of doubt, there is no division in the PDP at

Z e n ith B a n k Ac hi e v e s D isti n cti o n as S o l e Ni g e r ia n B r a n d o n W o r l d F i n a n c e 1 0 0 Listi n g f o r 2 0 2 3

Bank Plc, Dr. Ebenezer Onyeagwu, said, "It is with great pride that we acknowledge this feat as the exclusive Nigerian company in the World Finance 100 2023. “This accolade is a testament to our unwavering dedication to our valued stakeholders, our innovative spirit, and sustained growth, all achieved amidst the complexities of a challenging economic climate. “This honour further attests to our status as a leading financial institution that continues to set the industry standard in financial performance, good corporate governance and financial stability.” He expressed gratitude to the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, for his visionary leadership and foundational role in shaping a resilient and thriving financial institution. He also acknowledged the board for the outstanding leadership they provide; the staff, whose drive and commitment sustains the exceptional performance; and the bank’s customers for their steadfast trust in the Zenith brand. Zenith Bank continues to play a pivotal role in Nigeria’s economic development and remains dedicated to providing cutting-edge financial solutions to its diverse clientele. The bank's track record of excellent performance has earned the brand numerous awards, with this latest accolade coming on the heels of several recognitions including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in

the 2023 Top 1000 World Banks Ranking published by The Banker Magazine; Best Commercial Bank, Nigeria, for three consecutive years from 2021 to 2023, in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022 and 2023; Bank of the Year (Nigeria) in The Banker's Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World's Best Banks Awards; Best in Corporate Governance' Financial Services' Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and Retail Bank of the Year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named Bank of the Decade (People's Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

the national or any other level for that matter to justify the defection of the 25 former members of the Rivers State House of Assembly from the party. “They, therefore, vacated their seats for reasons best known to them and cannot return to the House of Assembly without passing through a fresh electoral process in accordance with the provisions of the 1999 Constitution (as amended) and the Electoral Act, 2022.” Damagum said, "The Speaker of the Rivers State House of Assembly, Rt. Hon. Ehie O. Edison, officially declared the seats of the defected, now former, members vacant in line with Section 109 (1)(g) of the 1999 Constitution (as amended). “The Rivers State House of Assembly, having become Functus Officio on the matter cannot re-admit the former lawmakers unless through the channel of a fresh election. "Our party, therefore, counsels the former members of the Rivers State House of Assembly not to be deceived by anybody giving them the false hope and impracticable assurances in Abuja that they can return to the Rivers State House of Assembly without a fresh election or that the Independent National Electoral Commission (INEC) can be stopped from conducting fresh election into the 25 Rivers State constituencies, where vacancies have occurred by reason of their defection. "For emphasis, Section 84 (15) of the Electoral Act, 2022, is clear in providing that no courts have powers to stop INEC from conducting elections wherever and whenever a vacancy occurs in any electoral constituency.

poor. We didn't have any money. We really had to scrape by and try and get by with the little student stipend that I had. But the key thing is that I've thoroughly enjoyed being a scientist, I love going to the lab. “I love doing my experiments. And actually the fact that you're a single parent means that when your experiments don't go so well in the lab, you've got something else to worry about. You're worrying about buying your children shoes and cooking them dinner that night. “And so, because you had two forms of stress, they kind of cancel each other out. I know that sounds quite strange, but that's how I've managed my life,” she added.

Noting that she had been working in the field for about 30 years, she pointed out that the new leadership position gives her an opportunity to give back to the society and create an environment where other people can thrive. Raised in South-east Nigeria and Hackney, UK, Uchegbu who completed her pharmacy studies at the University of Benin in 1981 before attending the University of Lagos to obtain her master’s degree, said she came to Nigeria as a teenager, arriving in the 1970s in Owerri, just about three years after the brutal civil war. Uchegbu drew a comparison between the issue of access to

"For clarity, Section 84 (15) of the Electoral Act, 2022, provides that, ‘Nothing in this section shall empower the courts to stop the holding of primaries or general election under this Act pending the determination of the suit.’ "The PDP demands that INEC should, in line with Section 109 (1) (g) of the 1999 Constitution (as amended) and Section 84 (15) of the Electoral Act, 2022, fix a date for the conduct of fresh election into the 25 state constituencies in Rivers State, where vacancies have occurred by reason of the defection of the now former members of the Rivers State House of Assembly, pending the determination of any suit in any court. "The national leadership of the PDP charges all members of our great party in Rivers State to remain united and resolute in the defence of constitutional democracy and rule of law in Rivers State." While fielding questions during the press conference, Damagum said Fubara would not need the party's permission to attend a meeting summoned by the president. Therefore, Damagum said, he could not say categorically whether the governor signed the eight points of understanding between him and Wike. He said at the right time, PDP would sanction all those that worked against the party. According to Damagum, "It is not only Wike, there are other people that worked against party. At the appropriate time, they will be sanctioned. I'm in the party to stabilise the party. I am here to build the party. "My duty is to stabilise this party

and not to cause crisis. And I will continue to do that within the confines of reason. “When things go out of hand, we will act. But meanwhile, we still see it within the ambit of the law. Mind you, we have other litigations going on at this party; we won't want to plunge our party into another crisis. “And let me tell you something; It is not only Wike, there are other people, who worked against this party. When we get to that level, we will sanction everybody. If Wike believes he is above this party, we will be able to show him that he is not above this party. “One thing I am conscious about is that there was never a time he said he is not a member of this party. The same members of this party that believe he has done something wrong have also done something wrong to the party.” Another chieftain of PDP and member of the party's National Executive Committee (NEC), Abdullahi Musa Adamu, described the Abuja peace accord as peace of the graveyard. Adamu said the peace terms were one-sided because the defecting 27 lawmakers were not asked to maintain the status quo, thereby returning to PDP. He said to direct the governor to resubmit the names of the state commissioners would bring the issue of loyalty because the returning commissioners’ loyalty was to the FCT minister. Adamu stated, "We are happy that the president intervened. But to some of us in the PDP, it is not a holistic peace. It is a peace of the graveyard. It is to give the APC chance to buy time. "Who is fooling who? Everyone

knows that the game is over for the defecting PDP lawmakers to the APC. There is no crisis in our party. And plans to purchase court orders to upturn the court order from Rivers State has been exposed." Speaking, too, Bashorun Dele Momodu said Tinubu could not be the headmaster of state and federal governments, adding that his intervention in the crisis is legally absurd. Reacting on Instagram, Momodu wrote, “The directives to Rivers State by a federal president is really absurd in legal terms. No president can be a headmaster of both state and federal. “What manner of democracy are we practising that allows a president to intervene in the internal affairs of opposition parties and overrules the constitution unchallenged, and our politicians comply as if they are in a slave camp. “Opposition parties must vehemently oppose this brazen attempt at forcing a one-party dictatorship on Nigeria.”

He said the State, in the first quarter of next year, would take delivery of additional 100 units of Compressed Natural Gas (CNG)buses from the Federal Government to be deployed on defined routes, while promising to raise the fleet to about 1,000 units before the end of next year. “We remain committed to delivering a transport system that is safe, sustainable, integrated, seamless and with the potential to drive the socio-economic growth and development of Lagos and the country,” Sanwo-Olu said. AbdulRazaq described the project as, “another signature achievement, noting that the project alluded to the saying that “development is a process, and not a destination.” The NGF chairman said the delivery of rail infrastructure by the Sanwo-Olu administration added another crest of honour to the legacy of President Tinubu, whose administration in Lagos created LAMATA to drive the State’s transport vision. For its policy consistency and unbroken governance progression, the Kwara State Governor said Lagos remained an ideal model for other States in the country. He said: “Lagos has been a beneficiary of bold and progressive vision built around people’s welfare. Particularly worthy of note is policy consistency and progression in governance. Successive administrations in Lagos have built on one another’s

successes and projects that strengthen the State’s economic growth. “This is adding to the legacy of President Bola Ahmed Tinubu. I believe Lagos’ example is worth emulating around the country for faster socio-economic growth, regardless of political affiliation and individual differences. Development agenda should be people-focused as it is being done in Lagos.” The Commissioner for Transportation, Mr. Oluwaseun Osiyemi, called on motorists and commuters to adhere strictly to safety rules when using the flyover, emphasising that illegal activities, such as hawking and selling on and under the bridge were prohibited. “It is our collective responsibility to ensure that Lagosians experience a transit system that not only enhances connectivity but also promotes a safe environment,” the Commissioner said. Also, LAMATA Managing Director, Mrs. Abimbola Akinajo, explained that the Ikeja Overpass, which has a length of 620 metres, was designed to maximise the efficiency of Red Line and NRC train schedules by minimising delays associated with level crossings. She disclosed that Mushin Overpass, which was the last of the five flyovers being constructed by Lagos State Government along the Red Line alignment, has reached the completion stage. “Mushin Flyover will be commissioned before next February,” Akinajo said.

Sanwo-Olu Opens Ikeja Red Line Flyover

Ikeja flyover - the largest overpass component of the Red Line project - was inaugurated by chairman of Nigeria Governors Forum (NGF) and Kwara State Governor, Mallam AbdulRahman AbdulRazaq, on the invitation of his Lagos counterpart. The project, undertaken by Lagos Metropolitan Area Transport Authority (LAMATA), was one of the T-shape overpasses planned along 10 level crossings along the rail alignment to eliminate pedestrian and vehicular interference on the tracks. The flyovers significantly reduce the risk of accidents and collisions between trains and vehicles. The Ikeja overpass also resolved vehicular congestion and delays, hindering free movement in the vicinity. The Red Line project, which fully began during Sanwo-Olu’s first term, was expected to move more than 500,000 passengers daily when it becomes operational. It stretches from Agbado to Oyingbo, with eight stations at Agbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba and terminates at Oyingbo. Sanwo-Olu said the completion of ancillary infrastructure of the Red Line was precursor to the commencement of passenger operations of the metro line, which, he said, would be inaugurated by President Bola Ahmed Tinubu in the first quarter of next year. The delivery of the overpass bridges, the Governor said, indicated

his government’s commitment to safety of Lagosians, pointing out that the bridges had permanently resolved fatal accidents occasioned by collisions at railway crossings. He said: “When we came on board, we gave our words on the implementation of two rail lines, which are the LRMT Blue and Red lines. In the last four and a half years of our administration, we have prioritised the implementation of an integrated transportation system under the Traffic Management and Transportation pillar of our THEMES+ Agenda. “We have delivered life-enhancing transport infrastructures which are making life easier for the average Lagosian. The first phase of the Blue Line is already in operation, giving a lot of relief to those using its corridor of operations. The flyover infrastructure we are commissioning today is one of the five overpass bridges we planned for the Red Line alignment, which is a precursor to the commencement of passenger operations.” In 2024, Sanwo-Olu said Lagos would be rolling out 50 electric buses for passenger operations in pilot phase, following the completion of proof of concept on the feasibility of use of non-combustible engines as substitute for fuel-powered vehicles. This, the governor said, would enable Lagos to progress in its zero-carbon programme, with the expectation of becoming an emission-neutral city by 2050.

Uchegbu needed research infrastructure in Nigeria and the UK, explaining that she was immensely proud of the job she and her team had done in the field of severe pain relief. “After doing my master's degree, I did hit an infrastructure wall, and I realised that I had to move away if I wanted to advance my career,” she added during the interview. Yet, she explained that having

Fubara: We'll Continue to Sacrifice for Peace

Fubara said no amount of sacrifice was too much for peace, and pledged to continue to make sacrifices for the state. An obviously emotional Fubara stated this yesterday while speaking at the third convocation and sixth Founder’s Day ceremony of PAMO University of Medical Sciences, held at Elelenwo town, Obio-Akpor Local Government Area. The governor confirmed returning from Abuja, where he had gone to attend a peace meeting brokered by Tinubu on the political crisis in Continued on page 35

T H I S D AY • WEDNESDAY, DECEMBER 20, 2023

NEWS

South East Zonal Command Complex of EFCC...

L-R: Chairman, Economic and Financial Crimes Commission, EFCC, Ola Olukoyede; National Security Adviser, Mallam Nuhu Ribadu; and Governor of Enugu State, Dr. Peter Mbah, during the inauguration of the South East Zonal Command Complex of the Commission in Enugu, ... yesterday.

Cash Crunch May SparkViolence, NLC Warns Onyebuchi Ezigbo in Abuja

The Nigeria Labour Congress (NLC) has expressed concern about the ongoing scarcity of the naira in Nigeria, warning that the situation may invite people to violence if not checked. In a statement, NLC President Joe Ajaero, noted that the current state of affairs was particularly worrisome as the nation approaches the festive season. "We are worried that by this ac-

tion and others, the government may be inciting the people and mobilising them to seek alternative routes for protecting themselves from these perverse policies. "We believe that the elastic limit of the patience of Nigerians is being breached and no government inflicts this level of pains on its citizenry and expects them to keep quiet for a long time. “Forcing Nigerians into revolt by continuously taking actions that deny them basic access to survival

will not augur well for our nation," the NLC warned. The labour centre said the economic challenge has far-reaching implications for the citizens, adding that urgent steps must be taken to address the issue to prevent further hardships for the already suffering Nigerian populace. While weighing on the present hardship, Ajaero said Nigerians were spending more time in the banks trying to source for cash. "This is undermining confidence

of the public in the banks and may discourage the citizenry from participating actively in banking. “It is shameful that Nigerians would have to spend a lot of money to gain access to their hard-earned income. "We are creating another avenue for economic rentiers such as the PoS operators and their collaborators in the Banks to fleece Nigerians. "Subjecting us again to spend our meagre salaries buying our money automatically devalues our income.

Ribadu to Olukoyede: You Are Doing a Good Job, But Sanitise EFCC Says a lot went wrong in anti-graft agency

Kingsley Nwezeh in Abuja

The National Security Adviser, Mallam Nuhu Ribadu, yesterday commended the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, over the transformation of the commission within the short period of time of his appointment, adding that Nigerians are taking note of his impact. He, however urged him to sanitise the commission and restore order as a lot of things were wrongly done and mismanaged. The NSA gave the commendation in Enugu at the Enugu Zonal Command of the EFCC during the commissioning of its new edifice. “I am particularly delighted by the transformation of this complex and indeed the transformation of the EFCC itself. "Mr. Chairman, you are doing a good job. You are not just transforming the physical spaces and buildings but the EFCC itself. “I can assure you that people are taking note of that and I want to commend the Chairman, Mr. Ola Olukoyede and his team for the vision to put up this magnificent edifice for use by personnel of the zone”, he said. He charged the commission to take a front row in the effort to check the laundering of proceeds of violent crimes like terrorism, kidnapping and banditry in order to restore growth and stability in the nation’s economy. "You have the biggest role and responsibility in the forefront to get things back to order. Lots of things were done wrongly and mismanaged. You must clean up, sanitise, and demonstrate that you are one of our best. Be honest, be just, be fair. That is what you are known for”, he said. While calling on other security

agencies to collaborate with the commission in achieving its mandate, the NSA acknowledged the modest contributions of the commission in checking illicit financial flows especially in the Designated Non Financial Sector, (DNFS), through the Special Control Unit Against Money Laundering, (SCUML), adding that there was still room for improvement. “No agency can’t operate alone without the support and collaboration of stakeholders. I therefore call on other security and law enforcement organisations in this zone to work with the EFCC to ensure that it achieves its mandate. "This is how we can change our country. Stand by one another, support one another, be one”, he said. In his remarks, the Governor of Enugu State, Peter Mbah, said the commissioning of the edifice reconfirmed the commitment of

the nation to sustain the war against corruption. “The commitment is well founded in view of the many proven negative effects corruption has on economic development. "For example, corruption is globally acknowledged to reduce the adoption of innovative strategies within economies. "Secondly, it tends to discourage direct investments both foreign and domestic while reducing the rate of emergence of new jobs and increasing the prices of products and services”, he said. The governor, who was confident that the commissioning of the new structure will go a long way in boosting the effectiveness of the commission’s operations in the region, commended the entire commission for the sterling work it has done in fighting corruption and graft across all segments of

society since its inauguration. Earlier, in his opening remarks, the EFCC Chairman, Ola Olukoyede, said one of his desires was to provide a conducive environment for staff to boost their productivity in achieving the mandate of the commission. “Ladies and gentlemen, we cannot over emphasise the importance of a befitting and functional office environment for personnel motivation and productivity. This is being met for the personnel of the Enugu command today and my vision is to ensure that staff in all EFCC outputs work in decent offices with facilities that compare with other law enforcement organisations in the world”, he said. While assuring citizens of Enugu State that fraudsters had no place in the state, the chairman called on the civil society organisations in the South-east to collaborate with the command.

POS operators currently charge around N400 to access N10,000. "This is about a four per cent reduction in the value of the income of poor Nigerians who hardly make use of electronic platforms to perform their transactions. For citizens who are already impoverished by

Kaztec Engineering Asks Appeal Court to Set Aside Judgment on OMLs 123, 124, 126, 137 Dispute Wale Igbintade

An indigenous oil and gas engineering firm, Kaztec Engineering Limited, has asked the Abuja Division of the Court of Appeal to set aside the judgment of Justice Nkeonye Evelyn Maha of Federal High Court Abuja, which struck out its suit filed against the Ministry of Petroleum Resources, and five others regarding Oil Mining Leases (OMLs) 123, 124, 126 and 137. Justice Maha had in her judgment delivered on December 15, 2023, had struck out the suit with number: FHC/ABJ/CS/1291/2020, filed by Kaztec Engineering Limited against the Ministry of Petroleum Resources; the Attorney General of the Federation; Mars Exploration and Production Company Ltd; the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Petroleum Company Limited (NNPCL). Dissatisfied with the judgement, Kaztec Engineering Limited in its Notice of Appeal filed by its team of lawyers, led by Jeph C. Njikonye, prayed the appellate court to allow the appeal and set aside the whole decision striking out the appellant’s suit/claims. The appellant also urged the court

Amidst Rumoured Death, Olusola Oke Narrates Ordeal after Surviving Auto Accident Fidelis David in Akure

The mystery surrounding the rumoured death of a governorship candidate in Ondo State in the 2012 and 2016 gubernatorial elections, Olusola Oke (SAN), became clear on Tuesday as he narrated his ordeal after an auto crash in the state. Oke who represented Ilaje/ Ese-Odo Federal Constituency in the House of Representatives in 1992 was involved in a horrifying accident on Friday, August 25, 2023 was rumoured to have died, thereby dominating public conversation in the coastal state and the country as a whole.

However, speaking at an interdenominational thanksgiving service, held at the International Culture and Events Centre (the Dome), in Akure, Oke said the journey he embarked on to the southern part of Ondo State, on August 25 was like any other ones he made in the past, but it turned out to be a memorable watershed as he had a very close shave with death. The former Commissioner who represented Ondo State on the Governing Board of NDDC said: "It was God that gifted me with life, a day death almost made itself an inevitable compulsive choice

for me. Guy de Maupassant has effectively captured the fickleness of life when he opines that: "How strange life is, how fickle! How little is needed for one to be ruined or saved! "Due to the recklessness of a road user, a vehicle coming from the opposite direction, and dangerously overtook another vehicle at a sharp bend, needed to escape having head-on collision with the vehicle I was travelling in. In an attempt by my driver to avert running into it, he manoeuvred the vehicle, very swiftly but reasonably timely, but the dislocated vehicle that we were trying to escape, in

the same policies of government, foisting this on them again, amounts to gross insensitivity and double jeopardy. "This cash crunch is indeed another test of the already worn patience of Nigerian masses and workers."

an ordinarily inexplicable way, hit our vehicle from the rear, forcing it to somersault about three times. "In the process of this auto gymnastics, I was flung out of the vehicle, leaving my driver, personal assistant and the security detail trapped inside. By the time my driver and others managed to squeeze themselves out of the wreck of the vehicle, I was lying flat in the middle of the road. Mercifully, there were no vehicles driving past the very busy road at that moment. God saved me from being run over and crushed to death. Continues online

to invoke Sections 15 and 16 of the Court of Appeal Act and assume jurisdiction to determine its 2nd Amended Originating Summons; and resolve issues 5 endorsed on the appellant’s Amended Originating Summons filed on March 22, 2023 in its favour. The appellant argued that the trial court erred in law when it struck out its suit on the grounds of non-joinder of Salvic Petroleum Resources Ltd, stating that the law was trite that non-joinder of a party does not defeat the cause of action. Njikonye, argued that the joint award of the disputed OMLs to the appellant and Salvic Petroleum Resources Ltd. was clearly delineated to be on equity participation of Kaztec He urged the court to hold that the appellant (Kaztec) had a distinct cause of action against the respondents to commence its suit and to seek the reliefs sought. Besides, Njikonye argued that the trial court erred in law when it held that non production of document evidencing payment of signature bonus rendered the court incompetent to entertain the suit. He stated that the lower court had in its rulings affirmed the appellant's reasonable cause of action against the respondents, submitting that the appellant never sought any reliefs against Salvic Petroleum Resources Limited being not a necessary party for the determination of the appellant’s suit. He urged the court to hold that, "The appellant had locus standi to commence and maintain the action in its personal capacity, and that the non-joinder of Salvic Petroleum Resources Ltd. as a party could not have defeated the Appellant’s cause of action." He submitted that the matter submitted to the lower court was for the interpretation of Section 2(1) (B); 12(1); Paragraph 35 Schedule 1 of the Petroleum Act; Letters of Award of Oil Mining Lease (OMLS) 123, 124, 126 and 137 dated 30th March, 2021, 7 April 2021 and 11th June, 2071 and a determination that the review of the award of the OMLs to the appellant in the circumstances of the case was wrongful.

T H I S D AY • WEDNESday DECEMBER 20, 2023

politics

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

Intrigues as Aiyedatiwa Takes Over as Acting Ondo Gov

Fidelis David reports that the Acting Governor of Ondo State, Lucky Aiyedatiwa, last week resumed office but he may soon face real drama and political battle with his party, the All Progressives Congress’ gubernatorial primary coming up early in 2024.

Akeredolu

ndo, the sunshine state has been on the wrong side of the news for sometime now. The state was plunged into a period of unprecedented political turmoil, causing widespread concern and uncertainty among Nigerians and causing a ripple effect throughout the state’s political fabric. Tracking the root of the crisis, the first battle was the ill-health of Governor Oluwarotimi Akeredolu, who went on a three-month medical leave in Germany and his subsequent return to the country on September 7, 2023. Second was the battle of the deputy governor, Mr Lucky Aiyedatiwa, having to convince the whole world that the allegation by the Society for Women Empowerment, that he (Ayedatiwa) had physically assaulted his wife twice in four months was untrue. Third was the battle of controversy over Akeredolu’s failure to return to the state or make public appearance, fuelling the suspicion that the state is being governed by proxy and the most dramatic manifestation of this conflict occurred when Akeredolu returned from his three-month medical vacation in Germany as he fired the media aides to his deputy over alleged misconduct. The fourth was the unsuccessful impeachment proceedings against Aiyedatiwa over allegation of approving N300 million to purchase a bulletproof SUV for personal use with the money sourced from the ‘Palliative Fund’ provided by the federal government to cushion effects of the removal of fuel subsidy in the states. There were speculations that Akeredolu was having a running battle with his deputy, hence his refusal to transmit power to Aiyedatiwa in order to become acting governor as required by the constitution. But, after the intervention of President Bola Tinubu, last Wednesday, Ondo State Acting Governor, Lucky Aiyedatiwa assumed office shortly after his return to Akure, the state capital where he was received by a former Secretary to the State Government, Ifedayo Abegunde and his supporters. Aiyedatiwa was confirmed by the state House of Assembly as acting governor following a letter through which Governor Akeredolu notified the members that he was proceeding on another round of medical leave. Building Shared Future from Divided Past Last Friday, Aiyedatiwa swung into action. The acting governor in a state broadcast marking his assumption of office upon transmission of power by his principal, admitted that the intrigues that ensued due to Akeredolu’s health challenges were indeed avoidable distractions. He specifically called on political actors in the state to forget the crisis in the state by building a shared future from a divided past. According to him: “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 wellbeing 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, 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 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 strenght to our leader, Arakunrin Oluwarotimi Odunayo Akeredolu. “The events which have culminated in today’s address is a watershed in the annals of our experience as a people. It is not a moment of celebration, but rather a moment of sober reflection. A moment for us to really appreciate the collective burden of moving our State forward. The events of the past months have indeed challenged our love for our state and indeed democracy which we all profess. “Throughout the whirlwind and the storm, we held fast to our firm believe that we owe it a duty to ourselves, the

people and posterity not to allow the suspense and confusion go on without end because of its dire implications for our development and progress in Ondo State.” Inclusive Engagement Aiyedatiwa stressed that it was time for the state to return quickly to the path of accelerated progress that has eluded the State in the last few months, calling on political actors to excuse unnecessary distractions. He said: “We can no longer be separated in interest or divided in purpose. We must stand together until the end. We must come back stronger and more determined to advance the welfare and security of our people, being the primary object of government as encapsulated in the 1999 Constitution of the Federal Republic of Nigeria, as amended. Let us build a shared future from a divided past. We owe no less to the good people of the Sunshine State. “Bearing in mind that the very huge responsibility of governance, I must emphasise that the task is indeed not one that one individual can accomplish alone. It is a gigantic task that requires inclusive engagement, focus and collective actions from both the government and the governed. We, therefore, implore you all across the State, young and old, to contribute your utmost commitment, cooperation and support towards advancing the State in our development trajectory”. Aiyedatiwa acknowledged the legacies and sterling leadership and character his principal provided for the state, describing him as a transformational and courageous leader who has turned around the fortunes of the State in the last six an-a-half years. “In all facets of our development, be it governance, security, health, education, economy, infrastructure, industrialisation and others, his footprints are foundational and will serve the state in greater heights in the future. Above all and as you all know our Governor has been a strong, effectual and respected voice in matters of national development, doing the Sunshine

Be that as it may, the eight-month old political battle in the sunshine state raised many cryptic dusts, fuss, uproar which culminated in devastation like the havoc of the inglorious atomic bomb in Hiroshima during the second world war. Political pundits, however, believe that the real battle is yet to commence. A chieftain of the APC in Ondo state who spoke on condition of anonymity said the war has not even begun as the two camps will continue to fester badly ahead of the 2024 governorship primary and the major election slated for November 16, 2024.

State proud at all fora. The State will forever be grateful to Arakunrin Oluwarotimi Akeredolu for driving our development so well.” The Acting Governor said he’s confident that democracy in state would be further enriched with the hard lessons learnt from the crisis. “For us in government, this whole experience should open a new place in our hearts; a place where we must appreciate that the trust vested in us as a part of the small privileged percentage of people, must be used for the best welfare of the larger percentage of the people. We must rise far above the intrigues and instability of the past and roll up our sleeves in service of the people. We are nothing but trustees of the people with whom we share a common humanity. We must and we will exercise with utmost discretion the privileges conferred on us by the great people of Ondo State. “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. “Yesterday is already behind us. This is the time to carry aloft, with love and affection for one another, the laudable vision and mission of the. Governor for the State. I appeal to every member of the Government of Ondo state for your genuine support, cooperation and dedication.” He added that the state need a renewed unity to berth the significant and accelerated development clearly envisioned and vigorously pursued by Governor Akeredolu, noting that what happened in the past was a temporary delay in the State’s democratic journey. Freezing LGs Accounts Meanwhile, there are concerns in the state as it was gathered that the acting governor issued a directive to freeze all the 18 local government area councils accounts, effective immediately. A top local government official revealed that a directive had been issued to Head of Local Government Administration to the effect. He said “Distinguished HOLGAs, Your Excellency, the Acting Governor of Ondo state had directed that all spending/ expenditure from local government account should be suspended, no signing of cheques, no change of signatories, no withdrawal of any sort until further directive. Please adhere strictly to instruction and be guided.” However, reacting to the reported freezing of local government accounts, the state Commissioner for Information and Orientation, Bamidele Ademola-Olateju, said it was a misrepresentation of fact. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY • WEDNESday DECEMBER 13, 2023

FEatures

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

Adding Value to Society through NMS Alumni Association For the 33rd Passing Out Platoon Alumni Association of the Nigeria Military School(NMS), Zaria, the core values that bind them are steeped in unity as brothers. Hammed Shittu reports that as the 1985 Set recently reunited in Ilorin with excitement, it was also an opportunity to contribute to society

Members of 1985 set of NMS Zaria in a group photography with Emir of ilorin Alhaji Ibrahim Sulu-Gambari during a courtesy call on Emir at his palace.

he ancient town of Ilorin in the North central region of the country recently went agog when the 33rd Passing Out Platoon Alumni Association of the Nigeria Military School(NMS), Zaria, that happened to be 1985 set of the school, converged on the town to hold its Annual General Meeting(AGM) reunion and retreat ceremonies in the ancient town. The school was founded by the British government in 1954 and has produced various sets of the institution. This school's set has also produced members that cut across various ethnic nationalities that came together to work for the uplifting of the school. Many of the products have excelled in their various field of endeavours. They used the platforms to raise the bars of the institution and social well being of the members. It would be noted that, some of them have taken careers in the military forces in the country while those who were civilians have climbed various ladders of their chosen careers.This has made them men of timber and calibers in the today's nation's polity. Hence, on December 3, 2023, the 1985 set of the school stormed Ilorin, Kwara State to hold its annual retreat with their spouses and also to contribute their support to the orphanage home and children reception center in the town. The first point of call on the occasion was to pay a courtesy visit to the monarch of the town, the Emir of Ilorin, Alhaji Ibrahim SuluGambari where they solicited for his prayers and blessing as part of the activities to mark the beginning of the annual retreat in the town. The 1985 set of NMS Zaria, which falls under the 33rd Passing Out Platoon Alumni Association of the school, stormed the palace in a grand style and were adequately received by the Emir. At the palace, the monarch who was highly excited to receive his August visitors explained the importance of the establishment of the Nigeria Military School by the former colonial masters in 1954. Alhaji Gambari said that, federal institutions including unity schools were established majorly among others to promote Nigeria's unity and its abound diversities. He noted that, with special interest unity schools and other federal establishments were specifically launched to foster unity and oneness of the country. According to him, since all students would be drawn from across the nation, it is certain that familiarity that would transcends religion and ethnic bigotry would ensued. He stressed that while at school or at work in case of offices, brotherhood and undying love that would outlive the office or schools would undoubtedly be formed. He told his guests, "merely looking at you all, one would unquestionably come to terms with Nigeria's reality; of the reality that one is looking at Nigeria. That is the essence of creating the school in 1954 by the British government. "If Nigeria is going to survive, it is a group

Chairman 1985 set of NMS Zaria, Alhaji Mohammed Aliko Mohammed like yours that would make it survive and if it would break, it is a group like yours that would ensure it," he stated. He therefore prayed and blessed the group that included his nephew, Alhaji Omar Bolaji Gambari. Earlier, the chairman of the group, Alhaji Muhammed Aliko Muhammed explained that they were in the state to seek the blessings of the Emir and to showcase themselves in ways and manners that would attract Kwara indigenes and residents to enroll their wards in the school. "We are here among others to reaffirm that your son, Alhaji Omar Bolaji Gambari has so many friends and brothers from across the country. "Over the years, we have gone round this country to celebrate ourselves and also celebrate the diversities and the blessings that this country has. "In 2015, we were in Uyo; 2016 we were in Jos; in 2017 we were in Federal Capital Territory (FCT); in 2018 we were in Ibadan; in 2019 we were in Enugu; in 2021 we were in Yola and last year we were in Benin. "Today sir, we have come to the great kingdom of Ilorin to come and celebrate ourselves and also to seek your blessings and prayers," he stressed. On the state of the nation's security challenges, Alhaji Muhammed stated that, " I can only speak for the security in my house and environment. "But we belief that there are so many things we believe that a lot of things which brings a lot of crimes like dissatisfaction, poverty and unemployment by the grace of God if our royal fathers and leaders could proffer solutions to the issue of unemployment so as to look better for the country". Also in his remarks, the chief host of the meeting, Alhaji Umar Bolaji

Donation of gifts to the kwara state ophanage and children reception centre, ilorin by the wives of the 1985 set of Nigerian Millitary School, Zaria to mark 2023 AGM meeting in ilorin recently Gambari said that, "We are in Ilorin to hold our Annual General meeting and retreat so as to enable us to forge ahead in the quest of national unity. "It is also to celebrate our 33rd years that we have left Nigeria Military School, Zaria in Kaduna state and we have been doing this for past years because our members cut across all the states of the federation" Gambari however said that, the members would continue to work together as a united union in order to ensure the greatness of the nation. Also, the national president of the ex boys students association of the NMS, Zaria who also a member of the 33rd Passing Out Platoon Alumni Association, Mr. Sunday Nkigigu stated that, "the association is about the unity of the country, is about coming together to plan fro the future, is about collaboration, brotherhood and generally it is about unity without minding wherever you comes from in Nigeria". Nkigigu said that, "As a school set of 1985 of NMS Zaria, we have learnt to be brother in unity and diversity after our 33 years we left the school. Over the years, "we have learnt to be brothers in unity, belief in core values of united Nigeria, doing something together without any acrimony or religion affiliations. "We have been working as a team to address various challenges among ourselves and what can move the country forward. "So, we are in Ilorin to celebrate ourselves and form a plan to bring more new lease of life that can be of immense benefit to overall interest of the nation." Moreover, after the courtesy call on the Ilorin Emir, the spouses of the guests later paid a visit to the orphanage homes and children reception center located along Pipeline Road, Ilorin to identify with the less privileged children in the state where they donated gifts for the up keeping of the children. Speaking in Ilorin during the visit to the Kwara state Orphanage and Children Reception Center, Ilorin, the leader of the group, Mrs. Nneka Ikeagwu stated that, the orphans and less privileged children deserves support so as to help them have a new lease of life in the society. She decried the abandonment of the orphans and less privileged children in the society. Ikeagwu who was accompanied to the center by 35 other wives said that, "We are in Ilorin, Kwara state capital with our husbands to hold annual retreat and reunion of the Alumni Association of the Nigerian Military School, Zaria, 33rd Passing Out Platoon and decided to pay a visit to the Kwara state Orphanage and Children Reception center in Ilorin. "We believe in the development of humanity and provision of welfare to the orphans and less privileged children in order to change their lives for better. "And this is the reason we are here to support them and to make them feel belongings and also to make them happy with our own little gifts that we are making available to them in

Kwara State. " We brought the rice, semovita, oil, eggs, Indomie, gari, and other households goods to the orphans and less privileged children in the centre and we thanked our husbands for support us to donate the goods to them. "We also thank our host, Alhaji Omar Bolaji Gambari for the hospitality that he extended to us and our husbands during the meeting in Ilorin". Earlier, the officer in charge of the centre, Alhaja Habitat Yusuf lauded the humanitarian gesture of the visitors. She said the support made to the orphans and less privileged children remained a good one that will go a long way of adding values to the socio well being. Yusuf however called on the government to provide the center with the approved medical doctors that would be attending to the orphans and less privileged so as to boost their health care delivery in the center. Meanwhile, the grand finale of the event was the holding of reception held at the Kwara State Banquet Hall, Ilorin where they took a stock on the journey so far and also feted all the members of the association. Addressing the members of the association, the chairman of the 33rd Passing Out Platoon of Nigeria Military School, Zaria, Alhaji Muhammed Aliko Muhammed said that, "Let me start by giving thanks to God for showing us another reunion in our complete numbers by his grace since we started such event last year in Benin in Edo state as no one of us is missing today in the reunion event in Ilorin, Kwara state capital and we are grateful for that". He said, "Our trip to Ilorin to celebrate ourselves just the Chief host, Alhaji Omar Bolaji Gambari has said is borne out of the desire to continue to strengthen the unity of this country and her diversity. "We began this in the year 2000 when few of us met in an hotel in Victoria Island in Lagos where the seeds of this reunion was hatched and by the grace of God. We met in Zaria in 2010, in Uyo in 2015, in Jos in 2016, in Abuja in 2017, in Ibadan in 2018, in Enugu in 2019 and we celebrated each other in 2020 due to Covid-19 pandemic, we went to Yola in Adamawa state and finally we were in Benin and now we are in Ilorin and we want to thank our host Alhaji Omar Bolaji Gambari, the planning committee and the good people of Ilorin for the sacrifice and hospitality extended to us during our reunion event in the town and for making this todays event possible". Muhammed added, "The NMS 33rd Passing Out Platoon Alumni Association the one that is duly registered with the CAC as a non profit making organisation with the specific objectives of promoting love, unity, care and Empowerment of our members and uplifting of our alma mater, NMS Zaria and we are committed to that above objectives. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY WEDNESDAY DECEMBER 20, 2023 20 TR

UT H

& RE A S O

Wednesday December 20, 2023 Vol 27. No 10477

opinion@thisdaylive.com

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THE YEAR OF RENEWED HOPE

FREDRICK NWABUFO reckons that 2024 will be a year of manifest hope

See page 21

STATES AND FUNERAL CEREMONIES

States should hands off burial and funeral ceremonies, argues PAT ONUKWULI

See page 21

EDITORIAL

FIXING THE DELAPIDATED ROADS

Elections, wars and inflation will dominate, reckons RAJENDRA ANEJA

2024: A YEAR TO HOPE FOR SOME SANITY “Never give up hope; after the rains, come the rainbows,” counsels my soulmate Patricia, when the night seems long. In 2024, we will learn to hope, though many countries will engage in bloody battles; others will fight poverty and inequality. The Israel imbroglio, has side-lined the Russia-Ukraine war. Both these conflicts may drag through 2024. Over 400,000 people have died or been wounded in these battles. Generations of youngsters have perished. Elsewhere, most global leaders will be busy securing their thrones. Forty nations go to the polls in 2024, including seven of the most populous nations like USA, Russia, India, etc. Fifty-one percent of the world, 4.17 billion people will elect new leaders. Generally, the incumbents will retain their jobs. Expect strongmen victors to further dent democracies. Biden may just scrape through to the top global job. Americans are weary of fighting wars for others. They do not put boots on the ground anywhere. Just, armaments. Save your blushes, if Trump romps home. Then, global paradigms will change drastically. Putin will rejoice. Xi will continue to rule China and confound the USA. Xi is a charmer. Hopefully, he will break the ice with Biden and dampen the new cold war, in a multipolar world. Putin will be beleaguered by the Ukraine war and Biden. He will secure his election and strengthen his fraternity with China, Iran and Syria. Zelenskyy will struggle to collate adequate soldiers, missiles and guns to continue an attritive war. Ukraine should negotiate. The West is wearying of supporting its long war. Cameron’s return from the political wilderness, will strengthen Sunak. Europe will play second fiddle to the USA and struggle to grow. Migrants will find many doors closing. Arab nations should broker a peacesolution to the Israel-Hamas combat. Hamas must learn to coexist with Israel. Israel cannot be wished away. Emotions run deep in the Middle East. Yemen will continue floundering. Africa will struggle with debt servicing. Africa desperately needs continuous electricity, motorable roads, skilled workers and eliminating wasteful subsidies. It also needs to boost its vaccine-producing abilities, to manage future pandemics. Nigeria should focus on controlling inflation. Modi will return to his job. His opponents are fragmented. Pakistan’s politics will continue to flounder. Aan

Suu Kyi, 78 years, languishes in a prison in Myanmar. All the Kings men and United Nations, cannot rescue this petite lady in distress. Social media will generate fake news, in countries electing new sultans. Politics is turning poisonous and acrimonious by the day. Expect copious social media blasphemes, cash-handouts and mudslinging. We will scuffle to ferret the truth. Sluggish Economies. With guns blazing in Gaza and Ukraine and electioneering all-around, economic growth will be neglected. The global economy will grow at a pedantic 2.5 percent. American and European economies will scuffle at around 1.8 percent. Dubai will flourish, luring rich Russians and Indians. Saudi Arabia’s Crown Prince, Mohammed Salman, aspires, to emulate UAE’s success. He will have to manage the theocracy. India at six percent growth and China at five percent, will lead global growth. However, economists, are wary of the opaqueness of these numbers. The impressive growth rates, do not trickle down to the people. Global inflation could decline from 6.8 per cent to 5.2 percent. It will provide scant relief. In Europe, the poor choose between heating their homes or eating. In India, with six percent inflation, the poor are recycling leftover foods and old clothes. The burden of ever-rising prices is crushing. In shining India, 67 percent of the population, i.e. 800 million, will receive free rice and wheat every month, for the next five years. Expect oil prices to hover at USD 8085 per barrel, unless Arabs unite against Israel’s war. Gold prices could touch USD 2,400 per ounce. In an ambiguous world, it is durable. Stock markets will tiptoe upwards; however, expect no windfalls. The world will continue to be inequitable. The richest ten percent , own 53 percent of the wealth. According to Oxfam, since 1995, the top one percent of the world’s rich have garnered 20 times

more wealth, than the bottom 50 percent. About a billion people in 110 countries, live in poverty. Covid-19 augmented poverty amongst the lower-incomed. This means less food, poor health care and more deaths amongst the poor. Over 110 million people are stateless. Britain tussles to send its refugees to Rwanda. Depositing cash in the banks of the lower incomed, as Brazil and India do, is a band-aid remedy. Teaching a man to bake bread, is better than distributing free bread. Innovations. Artificial intelligence (AI), will be another giant leap for mankind, if harnessed. Uncontrolled, it will impact livelihoods. Governments must understand and regulate this new pandora’s box. Pathbreaking innovations which have enriched the lives of common citizens, like the laptop, mobile phones, OTT, etc., are contributions of technologists. They have more wonders on the plate, like technologies to lengthen human life and pioneer brain implants. Unless we manage the fumes from our factories and cars, fate will overtake us. Hopefully, environment, sustainability, governance (ESG), will not remain corporate slogans. Corporations will insist that employees work in offices. If you want to get promoted, the boss must see you. Olympics and Oscars. The Paris Olympics, will entertain us, with a focus on excellence and skill. The 13th African Games, will sparkle in Ghana. Cricketing countries will compete for the T-20 World Cup. “Oppenheimer” and its protagonist Cillian Murphy should hold Oscar statuettes. Hopefully, we will see Emily Blunt in an intense role like “Sicario”. Taylor Swift and Lady Gaga will continue ruling. So, expect 2024 to be lacquered with blistering elections, continuing wars in Ukraine and Gaza, eroding democracies and inflation. 2024 is a leap year. Patricia, my soulmate, was born on 29 February. She is planning a rollicking party. However, she says, “Only if there are cease-fires in Ukraine and Gaza.” Good girl. That’s why, I love her. Happy New Year. Aneja was the Managing Director of Unilever Tanzania. He is an alumnus of Harvard Business School and the author of books entitled, “Rural Marketing across Countries and “Business Express”. He is a Management Consultant

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WEDNESDAY DECEMBER 20, 2023

States should hands off burial and funeral ceremonies, argues PAT ONUKWULI

STATES AND FUNERAL CEREMONIES

Attempting to legislate on funeral ceremonies is analogous to fitting the boundless essence of grief and remembrance into a rigid, one-size-fitsall legislative framework. Grieving hearts, like wildflowers in a meadow, require the freedom to bloom uniquely, unrestricted by the boundaries of legal statutes. Like nature's elegy, funerals should flow freely and organically, guided by the innate rhythms of cultural traditions and individual expressions of grief. In times of grief and loss, the rituals surrounding burial and funeral ceremonies play a crucial role in helping individuals navigate the complex emotions that accompany the departure of a loved one. This piece argues that states should maintain a hands-off approach to burial and funeral ceremonies. The essence of laws lies in providing a structured framework for governing societies and regulating human behaviour. However, laws should respect personal autonomy and freedom. Autonomy, as we know, is the ability to make decisions and act according to one's values and preferences without undue interference or coercion from others. John Stuart Mill championed personal autonomy rights. Mill, the 19th-century English philosopher and political economist, emphasised the importance of individual freedom and autonomy in his essay "On Liberty" (1859). He argued that individuals should have the right to choose if they do not harm others. Section 37 of the 1999 Constitution of Nigeria concurs and protects individuals from unwarranted intrusions into their private lives, ensuring that citizens have a reasonable expectation of privacy and autonomy and making personal autonomy issues a fundamental human right. The Anambra State Government, however, waded into this personal autonomy frontier by enacting the Burial and Funeral Ceremonial Control Law on April 9, 2019, signed by Governor Willie Obiano in May 2020. According to the Anambra State Government, the Law aims to reduce the financial and social burdens that bereaved families and communities face when conducting funerals for their loved ones by regulating the activities and expenses involved in burial ceremonies. Some of the highlights of the Law were no erection of billboards, banners or posters, no directional posts within seven days before the burial date, and removals within seven days of the burial date. Corpses should not be in the mortuary or any other place for more than two months from the date of death. All Vigil Mass, Service of Songs, or Religious Activity for the Dead must end by 9:00 pm without food, drink, live band, or cultural entertainers. The Edict also frowned upon producing funeral brochures and wearing unique uniforms or asoebi except for family members, amongst other generic provisions. It criminalises infringement of its provisions with the punishment of a fine of One Hundred Thousand Naira, six months imprisonment, or both. On the surface, this Law appears to be protective of the welfare of society because, over the years, there has been an upward spiral in the cost of funeral ceremonies based on elaborate activities and shows of affluence. People with limited resources have had to incur significant liability and debt in an effort "to meet up". The proponents of the Law argue that it would help eliminate the show of wealth during funerals. They insist it will contribute to a better society by refocusing the youths on altruistic values rather than desperation for wealth that culminates in criminal tendencies. Available records show that only Anambra State has these severe intendment directives in Nigeria. Nigeria's over 250 ethnic groups have beliefs and

practices regarding burials and funerals. Statutorily, however, the primary legislation governing burials and exhumations is the Public Health Act of 1917, inherited from the British Colonial Government and Section 246 of the Criminal Code Act, which is concerned with public health and safety issues of burials and has nothing to do with personal choices of how to remember or celebrate the departed. Thus, all other states have limited their involvement to public welfare concerns and did not delve into personal autonomy issues surrounding funerals. The Anambra State Burial and Funeral Ceremonial Control Law is redundant and would likely fail constitutional review if examined. Enacting unnecessary laws affects society's efficiency, personal liberties, and well-being. It overextends the legal system, creating enforcement, adjudication, and compliance inefficiencies. This legislation is unnecessary and wasteful. It diverts the state's resources and attention from more pressing and essential issues that affect the common good. For example, the state should focus on improving the quality and accessibility of health care and education. Anambra State should strive to be a melting pot of ideas because of its unique human capital. It should be open for people to express themselves and cease promoting socialist ideals. Dictating and codifying funeral amounts spent on funerals, irrespective of personal circumstances, are extreme. Akin to this is making regulations on the type and size of homes citizens should build or the type of private vehicles they are to buy. Indeed, this Law wrongly portrays Anambra State and its people as insular, intolerant and tethered. The criminalisation of conducts concerning burial practices and celebration is abhorrent and antithetical to the norms of a free and democratic society. Indeed, there is also an economic angle as it brings about a loss of opportunities for those involved in the funeral and entertainment industries. Activating equitable tax regimes would give autonomous choices to people by creating economic incentives or disincentives on embarking on large funerals, thereby shaping behaviour in line with the government's objectives. Just for the records, the Anambra State Governor, Chukwuma Soludo, recently announced that his father's burial would be done according to the dictates of this Law, insisting there would be no posters, billboards, brochures, asoebi, or souvenir items, and only food and drinks from Anambra would be available for service. People are waiting to see if the Governor will comply fully with the tenets. Not long ago, Governor Soludo was in attendance when the former Governor of the State, Dr Chinwoke Mbadinuju, who died on April 11, 2023, was laid to rest in pomp and circumstance in an apparent breach of the Law. Onukwuli, PhD, writes from Bolton, UK, patonukwuli2003@yahoo.co.uk

FREDRICK NWABUFO reckons that 2024 will be a year of manifest hope

THE YEAR OF RENEWED HOPE It has been months of bold decisions, strategic re-engineering, and studied statecraftship. The expectations effusive, the yearnings harkened, the promises certain, and the hope ever so sure. Nigeria is in planned drive under an ambidextrous and masterful pilot, President Bola Tinubu, and destined for majesty. The road has not been without a few bumps, but the journey is as exhilarating as the promise of a propitious destination. We are soldiering through and through, and soon, we will glide into a cruise. Nigeria is in very safe hands. In just six months, Nigeria’s economy is on a rebound; insurgency and terrorism retreating, and our contracted global reputation resurging. The job is not yet done. A lot more will be done. But the process that will lead to a concatenation of auspicious outcomes has begun. 2023 has been the year of Renewed Hope. 2024 will even be a greater year of Renewed Hope, with some of the plans and programmes of the administration coming to fruition. Already, initiatives and polices such as the Renewed Hope Grants for Poor and Vulnerable Persons; the Presidential Conditional Grant Programme; the Presidential Palliative Loan Programme; The 3MTT programme and other digital economy programmes; the food security scheme, tax reforms, CBN reforms, and many others have come on stream – and still maturing. But 2024 will be a greater year of renewed and manifest hope. In this year of Renewed Hope, Nigeria decoupled from the ponderous yoke of petrol subsidy. In this year of Renewed Hope, Nigeria’s credit rating improved, with global financial services firms forecasting a reinvigorated economy in the coming months. In this year of Renewed Hope, insurgency and terrorism in the south-east and in the north-east receded. In this year of Renewed Hope, Nigeria received pledges of investments worth over $14 billion from a single event – the G20 Summit in India. In this year of Renewed Hope, Nigeria saved over N1 trillion in just two months of removing petrol subsidy. In this year of Renewed Hope, the federal government approved 50 percent input subsidy for wheat farmers for dry-season farming to boost productivity. In this year of Renewed Hope, the Tinubu administration launched the food security plan to cultivate 500,000 hectares of farmland across the country to produce essential grains such as rice, maize, wheat, as well as other crops. In this year of Renewed Hope, the Tinubu administration embarked on a diligent reform of Nigeria’s tax system, setting up the Tax and Fiscal Reforms Committee to drive reforms, streamline tax administration, improve and expand collection, and revitalise the economy. In this year of Renewed Hope, the CBN introduced effective monetary policies, clearing a significant amount of foreign exchange forwards backlog, and initiating the ongoing unification of foreign exchange rates. In this year of Renewed Hope, the federal government addressed some of the critical concerns of the Academic Staff Union of

Universities (ASUU). In this year of Renewed Hope, Nigeria launched a well-defined and articulate foreign policy, anchored on Democracy, Development, Demography, and Diaspora (4Ds). In this year of Renewed Hope, the Tinubu administration charted a clear direction and a palpable path to the promised land for Nigeria. In this year of Renewed Hope, the foundation upon which the triumph of subsequent years rests stands firmly ensconced. 2024 comes with great expectations and promises, especially as the Budget of Renewed Hope will begin running its course in the New Year. An understated element of the proposed budget is the allocation to health and social welfare -N1.33 trillion. A clear prioritisation of the nation’s engine. The administration is strengthening Nigeria’s health sector through targeted and robust investments. To mitigate the cost of healthcare, the ministry of health and social welfare is redesigning the Basic Health Care Provision Fund (BHCPF)

to boost access to essential healthcare services as outlined in the National Health Act (2014). Also, a constituent of a more muscular health agenda is to increase the number of functional primary healthcare centres (PHCs) from 8,809 to 17,618 by 2027 across all 36 states and the Federal Capital Territory (FCT). The prices of some pharmaceuticals are spiralling, and the government is raptly attentive to the concerns of Nigerians. Professor Ali Pate, coordinating minister of health and social welfare, recently announced that the government would establish a mechanism for the pooled procurement of critical pharmaceuticals in 2024. This initiative, he said, aims to mitigate costs and guarantee quality, making essential medications more affordable for Nigerians. ”In the medium term, Mr. President’s initiative to unlock the healthcare value chain will see Nigeria manufacturing increasing share of its generic drugs, medical devices, and associated content, such as vaccines over time. This will reduce our dependency on those only keen to exploit our markets,” he said. 2023 is the year of Renewed Hope. 2024 will be a greater year of manifest hope. Nwabufo is Senior Special Assistant to the President on Public Engagement

22 4

T H I S D AY

WEDNESDAY DECEMBER 20, 2023

EDITORIAL

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

FIXING THE DELAPIDATED ROADS Roads are the arteries and veins of the economy. Government should put them in order

he Sultan of Sokoto, H.M. Sa’adu Muhammad Abubakar was forced to cry out after his agonising experience on the Suleja-Minna-Bida Road last week. “I would like to use this opportunity to inform the world or inform Nigerians and the government of Nigeria that the Suleja-Minna Road is still crying for attention,” the monarch said while describing what they went through as a nightmare. But the challenge of travelling in the country is not restricted to a state or a particular road, it is national. Only recently, after an inspection tour of federal roads across the six geopolitical zones, the Minister of Works, Dave Umahi painted an embarrassing picture of how many roads have degenerated from potholes to boreholes. The question now is, what is he going to do about the situation beyond the usual official lamentation to which Nigerians are now familiar? Stretched across the country, these roads are a major nerve of economic activities. It should be obvious, therefore, why THISDAY sounds like a broken record on this matter. Apart from the unacceptable loss of man-hours and the unbearable discomfort Nigerian road users suffer, the body count is mounting due to avoidable accidents even as the dilapidated roads are killing entrepreneurship that needs the infrastructure to transport agricultural and allied products. We fear that unless the federal government attends to these roads urgently and establishes a sustainable strategy for their maintenance, local economies will grind to a halt and worsen the unemployment situation we have on our hands. And most certainly, Nigerians who would be travelling for the upcoming Yuletide are assured of a harrowing experience. Indeed, a more robust legislative oversight becomes more imperative because there is an organic linkage between the poor state of our roads and the negligence of the executive that has over the years not only underprovided for the infrastructure in its

annual budgets but has also failed to utilise even the meagre allocations to the sector. We therefore urge a more creative and sustainable funding strategy for our road infrastructure as the nation’s economic revival and development stands no chance of success without good roads that would complement other modes of transportation for the movement of goods and services across the country. Since budgetary allocation will never be enough for roads development and maintenance, a PublicPrivate Partnership (PPP) arrangement had been proposed for some federal highways. The Infrastructure Concession Regulatory Commission (ICRC) was established as a regulatory body and charged with the responsibility of developing guidelines for monitoring contract compliance during construction, operation, and termination and supporting government in achieving such compliance. But there has been little or no commitment to attract private capital for the critical sector. The Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme and Sukuk funding for roads rehabilitation are laudable attempts to ameliorate the conditions but not enough to make any remarkable difference in the quantity and quality of roads through the length and breadth of the country. Apart from many of the major highways being littered with craters, driving at night is comparable to walking through a dark alley because of lack of streetlights. Besides, the unpassable state of the roads has literally made them den for robbers and kidnappers, who waylay innocent passengers at any time of the day to carry out their nefarious activities. We therefore call on the authorities at all levels to fulfil their constitutional and civil duty to the public by fixing major roads to mitigate the distressing harvest of deaths. It amounts to criminal negligence that many lives are being wasted on our roads despite the promises made by successive administrations.

We call on the authorities at all levels to fulfil their constitutional and civil duty to the public by fixing major roads to mitigate the distressing harvest of deaths 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

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

LETTERS AGODI GARDENS AS A HOUSING ESTATE? There’s nothing the Oyo State government says about the conversion of Agodi Gardens to a residential area that will make any sense. For the umpteenth time, I’ll reiterate that those who started the Nigerian journey had good intentions before others in uniform hijacked it and later some “democrats” screaming Awoism; an idea they know nothing about. I have read quite a number of narratives from politicians loyal to the State Governor and most recently from the Commissioner for Lands trying effortlessly to defend the planned conversion of Agodi Gardens to a housing estate and I must state that it is nothing but a ruse. The statement of the commissioner in defense of the conversion is so twisted and lacking details. It is not even the case that the houses to be constructed will be accessible to low and middle-income earners. The statement failed to answer why the conservation area must be converted to a housing estate when a green revolution should take off from that spot. It is important to make it known for a record purpose that the Agodi Gardens of today did not start with Governor

Ajimobi who launched the construction in 2014. However, he must be commended for buying the idea and making it see the light of the day. Agodi Gardens has been conceived and initiated as far back as the 60s during the days of Obafemi Awolowo. And, probably the governor does not know, trees were bought and brought in from several countries and planted there to make the reserve which is about to be cleared by the governor for a housing estate. Meanwhile, the trees that will be cut off to give way for the housing estate are as old as the governor and even more. If you look around South West, you will realise that none of the legacies of Awolowo is standing because of the absence of foresight by those managing the affairs of the States. There used to be at least eight ranches in the defunct Western Region under Obafemi Awolowo in present-day Lagos (Agege), Ogun (Imeko), Ekiti (Aiyedun), Ondo (Ikare) and Oyo (Saki) States amongst others. Unfortunately, these ranches have now become history because of mis-governance.

Meanwhile, countries like Israel, Argentina, Brazil, Australia and the United States of America have implemented cattle ranching successfully. There is also an online info which says ranches contribute $123billion annually to Brazil’s economy. Unfortunately, today, there is nothing to show for the ranches established in the old western region. In fact, we would not have been here talking about open grazing and indiscriminate destruction of farmlands by Fulani herdsmen in the South West if those ranches which were set-up in the old Western Region had not been sent into extinction by our ruling elites. Now, at a time that our governors should be discussing plans to revive ranching and bring to life green revolution, the Oyo State government has concluded plans to sell off Agodi gardens to build a residential area. That is some other destruction of a historic location which must not be allowed to fly. Kazeem Olalekan Israel (GANI), Ìbàdàn

T H I S D AY • Wednesday, December 20, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

D e c e m b er

S & P INDEX

1 9 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Eleven Banks’ Loan Impairment Charges Soar by 248.3% to N828.87bn

Kayode Tokede Guaranty Trust Holding Company (GTCO) Plc and 10 other Banks’ provision for loan losses grew significantly to N828.3billion in the nine months ended September 30, 2023, representing an increase of 248.3 per cent from N238 reported in corresponding nine months of 2022. This is according to the unaudited results and accounts released by financial institutions to the Nigerian Exchange Limited (NGX). Provision for loan losses or Impairment charges is the writing off of worthless goodwill and it

refers to assets that are no longer of the same value as they were in a prior period. The other 10 banks include: FBN Holdings Plc, Access Holding Plc, United Bank for Africa Plc (UBA), Zenith Bank Plc, and Ecobank. Others are: Fidelity Bank Plc, FCMB Group Plc, Wema bank Plc, Stanbic IBTC Holdings Plc and Sterling Financial Holdings Company Plc. Despite declaring impressive profits, the investigated banks loan losses grew significantly in the period review. For instance, GTCO declared N89.46billion loan impairment charges in nine months of 2023,

an increase of 2318 per cent from N3.7billion reported in nine months of 2022. A breakdown of the group’s loan impairment revealed that GTBank Nigeria incurred 96.19 per cent or N86.054 billion of the N89.46 billion charges. Other subsidiaries which recorded loan impairment charges were GTBank Ghana, N861.23 million; GBank Sierra Leone, N560.54 million; GBank Liberia, N2.14 billion; GTBank Gambia, N80.85 million; GT Bank Cote D’Ivoire, N4.21 million; and GTBank Tanzania, N27.15 million. Meanwhile, a N265.93 million loan impairment gain reported by GTBank Kenya Group brought the

loan impairment charges to N89.46 billion. GTCO in half year ended June 30, 2023 said it booked loan impairment charges of N82.96 billion in from N3.51 billion in half year ended June 30,2022 due to weakening macro economic variables driving the predictive EC model and caused management overlay on stage 2 facilities as permitted under IFRS 9 in line with its conservative posture of building up credit risk reserves to deal with adverse situations. “The Group also recognised N81.3billion in H1 2023 as impairment charge on other Financial Assets (FA) also by way of management overlay as loss

rate heightened on its investment in Ghanaian sovereign securities and other foreign currency financial instruments whose underlying values are sensitive to adverse exchange rate movement,” as the management explained in a presentation to investors and analysts. According to THISDAY investigation, UBA came second by percentage increase in loan impairment charges in nine months of 2023, reporting N144.62billion, an increase of 964.37 per cent from N13.59billion reported in nine months of 2022, followed by Fidelity Bank that announced N32.18billion loan impairment charges in nine months of 2023, a growth of 771.9per cent

from N3.69billion reported in nine months of 2022. In the period under review, Zenith Bank reported N209.99billion loan impairment charges, representing a 466 per cent increase from N37.1billion in nine months of 2022. In addition to top five banks with highest percentage loan impairment charges in nine months of 2023 is FCMB group that declared N56.99billion loan impairment charges in nine months of 2023, an increase of 204.68 per cent from N18.7billion in nine months of 2022. The story continues online on www.thisdaylive.com

Experts Recommend New Land Administration Method to Boost Irrigation Agriculture Folalumi Alaran in Abuja A report on irrigation agriculture practices in Nigeria has recommended the adoption of a semi-formal land ownership and administration method to boost land use and agricultural production in Nigeria. The publication tagged: “Learning by Doing! Action Research Experiences from

TRIMING Project in Nigeria’s Public Irrigation Schemes,” was released in Abuja at a two-day workshop organised by Transforming Irrigation Management in Nigeria (TRIMING), a World Bank-funded federal government initiative. The publication, compiled by the Research Panel of Experts (RPoE) assembled by TRIMING, is the synthesis and highlight of the

research reports and outcomes from the five research projects funded by the TRIMING Project. The action research is aimed at advancing the course of irrigation farming in Nigeria and to address challenges in agricultural production and its value chain. The research projects were carried out between 2017 and 2023 in the five target schemes, namely: Hadejia

Valley Irrigation Scheme (HVIS); Middle Rima Valley Irrigation Scheme (MRVIS); Bakolori Irrigation Scheme (BIS); Kano River Irrigation Scheme (KRIS); and Dadin Kowa Irrigation Scheme (DKIS). “The semi-formal land administration method was socially acceptable, transparent, pro-equity, effective, cost efficient, sustainable, and the farmers in both

formal-government land area and informal-customary were willing to adopt it; hence a high possibility that it will be adopted for implementation of land consolidation in DKIS,” the experts said. The two-day engagementwas declared open by the Permanent Secretary, Federal Ministry of Water Resources and Sanitation, Mrs. Didi Walson-Jack.

Speaking, Walson-Jack disclosed that the federal government had initiated advocacy programmes targeted at enhancing host communities’ understanding of the projects in order to deepen their participation and ownership of completed water projects. The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T u e s d ay, D e c e m b e r 1 9 , 2 0 2 3 BONDS Description Price Yield Change Updated Time (%) ^13.53 23October 100.95 12.77 0,00 31, 2023 MAR-2025 October ^12.50 220,00 31, 98.78 13.11 2023 JAN-2026 ^16.2884 17October 108.14 13.24 0,00 MAR-2027 31, 2023 ^13.98 23October 99.32 14.18 0,00 FEB-2028 31, 2023 ^14.55 26October 98.82 14.87 0,00 31, APR-2029 2023

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

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

1.80

October 0.00 31, 2023

2.57

October 0.00 31, 2023

3.92

3.94

October 0.00 31, 2023

3.75

3.79

October 0.00 31, 2023

4.45

October 0.00 31, 2023

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

4.39

OTC F X F U T U R E S

CPs Discount Yield 16.82

16.88

14.68

14.86

19.23

19.60

11.26

11.39

19.22

19.60

Change (%)

Updated Time

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

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

Updated Time

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

Wednesday, December 20, 2023 • T H I S D AY

BUSINESSWORLD

Interview

Oguntade: Haldane McCall Listing on NGX Will Help Govt Bridge Housing Deficit The Chairman, Haldane McCall, George Oguntade, SAN, in this interview with Kayode Tokede said the planned listing of McCall on Nigerian Exchange Limited will supporting government in bridging housing deficit in Nigeria. He also spoke on challenges facing the real estate and hospitality sectors in Nigeria. very attractive dividend policy where we intend to pay 30 per cent of our profit to our shareholders at the end of every year. Apart from the share appreciation that comes from investing in us, there is also an opportunity to earn an attractive dividend which investors can either take by cash or reinvest in the company.

Congratulations on the successful Board Meeting. Can you give us a background to how you became the Chairman of Haldane McCall Plc? have been a lawyer for over 35 years. Haldane McCall is a company that is going public very soon. My father, Honourable Justice Oguntade, who was a retired justice at the Supreme Court and former Nigeria high commissioner to the UK nominated me to be his representative as the chairman of Haldane McCall due to his old age and perhaps the inability to move around. Those are the circumstances I have been able to chair the company.

Haldane McCall is believed to have a trajectory of achievements over the years. Can you kindly give an? insight? The company, before I assumed duty as the chairman has had some success stories. It was incorporated in 2020 as a private company and it became a public company a year later. I have come at a very important moment when the company is looking to get quoted on the Nigeria Exchange Limited (NGX). The intention is to make a success in the listing. We wanted to attract as many Nigerians to invest in our company and ensure they derive long-term value by associating with us. I have been here for four months and we are making progress. What are those attributes that distinguish Haldane McCall from its peers? Haldane McCall is essentially operating in two sectors- hospitality through Sure Express Hotels and real estate through Suru Homes. Haldane McCall as i said earlier, is planning for listing on NGX. Given the experience of the board of directors and the fact that we understand what is needed to be done as far as a major real estate development company in Nigeria, we shall generate value that sets us apart from our peers in Nigeria. Everyone in the company is committed to ensuring we take that pride of position in Nigeria. How can the Company support the government to bridge the gap of housing deficit? It is one of the key areas we are looking at

The Company is in the process of securing regulatory approvals to list its shares by Introduction on NGX. Why do you think it is necessary? The idea is that to fund our expansion programmes, we need an opportunity to access funds, and that can only come when you’re listed as a public company where you can directly ask domestic and foreign investors for funds through investment in the company.

Oguntade when we are listed on NGX. Hopefully, we will be able to arrange funds that will give us the financial backing not only to support the federal government but Lagos state government in bridging the housing deficit. We realized that there is a massive housing deficit not only in Lagos but also in Nigeria. To be able to assist either states or the federal government, you will need massive financial backing from the issuance of funds. Of course, it is easier once you’re a listed company. What fundamentals does Haldane McCall have for investors amid the proposed listing? Now is a good time to invest in Haldane McCall. We are hoping to get listed by the end of the first quarter of 2024. If an investor invests now, they will buy our shares at N3.50 per unit which allows them to make immediate profit by the time we list at N3.84 per unit. We are not here for a short haul but for a long haul. The company has put in place a

As an advocate of corporate governance, to what extent is the Company adhering to the principles of corporate governance? To be listed on NGX, a company has to present a robust corporate governance policy and we are fully aware of that and recognize of our responsibilities. I can assure the investing public that Haldane McCall has a very strong corporate governance policy. What gives the management of Haldane McCall boldness to list amid some companies delisting? Two things are responsible: First, we believe in our brand. The Haldane McCall brand will stand the test of time. Second, we believe in the fundamentals of our company. We understand the market, and system and believe that Nigerians can benefit from their association with us. Of course, some companies are delisting, while some are leaving Nigeria but other companies are coming into Nigeria every day. I believe very strongly in the fundamentals of the company and aside from that, nothing else matters. The Nigerian business environment is believed to be tough. What do you

consider as the topmost challenges facing the operators in the real estate and hospitality business and the way forward? In the areas that we operate, the biggest challenge that we discussed at our board meeting is that of infrastructure. We are talking about multiple taxation by different government agencies. It needs to be streamlined, otherwise; companies cannot do business profitably in Nigeria. The next issue is the power supply. Poor power supply has killed so many businesses and still killing businesses in Nigeria. It is a matter of striking a balance and that is where you need a company that can innovate. A company needs innovation and ideas to be able to successfully navigate Nigeria’s business environment. Of course, it is difficult and it does not mean you cannot succeed. It is about putting the ideas together and moving forward. At Haldane McCall, we have plans in place to succeed amid challenges. How are you surviving foreign exchange challenges? We as a company do not believe in taking loans from banks because we understand that we operate in a very difficult environment. I am aware of some companies that have taken loans from banks and gone under for inability to service those loans for one reason or the other. We are fortunate in the sense that we are able to raise funds in-house to be able to fund our businesses. As a Nigerian company, we are affected by foreign exchange difficulties. But again, there must be progress and the foreign exchange challenges cannot be an excuse. We just have to manage our resources and programmes. We are moving forward despite the challenges. Where do you see Haldane McCall in the next 10 years? I see Haldane McCall Real Estate as the number one real estate company in Nigeria. Although we have competitors, in five-10 years, I see the company right up there and becoming a reference point for real estate in Nigeria both in the hospitality side and real estate development side.

African Alliance Insurance Posts N7.109bn Gross Premium Income

Stories by Ebere Nwoji

Life Insurance expert, African Alliance Insurance Plc, has announced a Gross Premium Income of N7.109 billion for the financial year ended December 31, 2022. Speaking at the Company’s 53rd and 54th Annual General Meeting (AGM) in Lagos, the Chairman of the underwriting firm, Ogwemoh Sylva, disclosed that gross premium income of the life insurer grew from N7.030 billion in 2021 to N7.109 billion in 2022.

According to him, the group’s Gross premium written stood at N6.814billion as at the end of the period ended 31st December, 2022 while that of the company grew to N6,814 billion when compared to N6,158 billion achieved in 2021. Ogwemoh, said the net premium income for the company appreciated from N5,588billion in 2021 to N6,889 billion in the year under review, indicating a growth of 23.28 percent. On the Group’s assets, he said the group’s total assets grew to N53.473 billion at the end of 31st

December, 2022 when compared to N41. 587 billion recorded in 2021; indicating 28.58 percent increase. “Our optimism for the upcoming years is underpinned by a dedication to delivering on our strategic objectives and providing unparalleled customer experiences. We are resolute in our pursuit of excellence and look forward to the opportunities that lie ahead, :he said. Ogwemoh said the board and management of the company would continue to sustain their unwavering commitment to

sound risk management and the maintenance of robust corporate governance structures. Also speaking, Managing Director/ CEO, of the company Joyce Ojemudia, said the company experienced a 10.66 percent growth in Gross Premium Written (GPW), culminating in a total of N6.81 billion for the fiscal year. She said there was a simultaneous notable 11.5 percent reduction in operating expenses through rigorous cost-cutting initiatives. He said, “We maintained an

unwavering commitment to payment of claims throughout the period under review, underscoring our commitment to our customers. Claims exceeding N94 billion were paid, representing an increase of over N1.26 billion when compared to the preceding year.” According to her,the breakdown of claims paid shows that for Individual Life, the Company paid N1.856 billion, and for Group Life, the sum of N1,429,696,696.24 was disbursed. Claims on Takaful,

stood at N714,905 million, Esusu N1,141 602,379.93 and Annuity N4,263,781,412.73. Ojemudia, stated that even in the face of challenging economic situation in the country, the company has been able to put certain businesses in place because of the strategy put in place to hedge the effect of foreign exchange on the company’s operations. She said the Life Fund was meant to be invested, adding that for African Alliance, the fund was well invested and hedged.

Leadway Partners NUPENG to Provide Health Insurance for 5,000 Truckers AIICOInsuranceCelebratesSix Decades of Excellence Leadway Health, a prominent health management organisation in Nigeria, is partnering with the Petroleum Tankers Drivers of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) to introduce a robust and reliable comprehensive health insurance plan for over 5,000 petroleum tanker drivers across Nigeria. The strategic partnership, officially launched in Lagos recently, is aligned with the visionary priorities of the newly elected leaders of the Petroleum Tankers Drivers. These leaders have underscored their commitment to the overall wellbeing of drivers through purposeful schemes, initiatives, and strategic collaborations. Speaking during the signing of the partnership, the CEO Leadway

Health, Dr Tokumbo Alli, said the comprehensive health insurance package unveiled through the initiative ensures that tanker drivers benefit from uninterrupted healthcare services across a network of over 2,000 hospitals nationwide. He said the comprehensive health insurance coverage gave the enrolled Petroleum Tanker Drivers access to quality healthcare services, preventative care, emergency medical attention, ambulance services, and selected critical illnesses, thereby eliminating the financial burden of out-of-pocket medical expenditure, fostering peace of mind, and guaranteeing timely medical interventions. The National President of the Nigeria Union of Petroleum and Natural Gas Workers

(NUPENG), Comrade Williams Akporeha, speaking during the launch, said, “Today marks a historic moment in our Union’s journey towards the betterment of our members. This initiative, in collaboration with Leadway Health, reaffirms our commitment to the wellbeing of our members, emphasising our collective belief that every individual, regardless of occupation, deserves high-quality healthcare services.” Acknowledging the drivers’ challenging conditions, including difficult terrains, harsh weather, long hours on the roads, and security concerns, Comrade Akporeha emphasised the importance of the Health Insurance Scheme saying We must acknowledge that this

profession carries inherent risks and dangers. Accidents, injuries, and health-related complications are unfortunate realities that these brave individuals face every day. However, it is our moral obligation as a Union to provide them with the necessary support, care, and protection they deserve. I hereby urge every tanker driver to embrace this opportunity and utilise it to its fullest.” Akporeha encouraged other organisations of like minds to emulate this historic feat by ensuring they implemented similar schemes for their members. “As we embark on this new chapter, I believe this Health Insurance Scheme will serve as a model for other Branches within our great Union.

In a recent moment filled with propitiousness, fanfare, and merriment, AIICO Insurance Plc, a frontline player in the underwriting business in Nigeria, commemorated its 60th anniversary. The event seamlessly brought together management, staff members, ex-staff members, and other stakeholders of the companyto reflect on the past journey and toast to the successes and accomplishments of the company over the years. Addressing the gathering,, the Managing Director/Chief Executive Officer of the company, Mr. Babatunde Fajemirokun attributed the staying power of the company to the continued loyalty of the customers as well as the resilience and relentless

spirit of the employees. Drawing a parallel between Nigeria and the company, both of which came into existence around the same time, Fajemirokun highlighted that both entities have weathered and survived turbulent times, demonstrating growth and resilience. “AIICO, has been a witness and a participant in this remarkable journey. We’ve grown amidst the oil boom’s promises of the 1970s and adapted during the economic downturns of the 1980s. Our strength was tested during the periods of military rule and the struggle for democracy, yet we emerged stronger, demonstrating the same resilience that defines our nation.”

T H I S D AY • Wednesday, December 20, 2023

BUSINESSWORLD

Insurance

CPS: 20 Years of Gains and Pitfalls As stakeholders in pension sector celebrate 20 years of successful regime of Contributory Pension Scheme in Nigeria, Ebere Nwoji reports that PFAs see the period as years of gainful reforms in Nigeria’s pension system.

he Contributory Pension Scheme (CPS) system of retirement benefits payment will in June 2024 clock 20 years of its practice in Nigeria. The operators, after a critical look at their performance, admitted that it has not been wasted 20 years but years of reforms and achievements. They however noted that one of the major challenges of the scheme over the years has been the need to get Nigerians see the value of financial planning through pension savings. According to the operators, after these 20 years of its existence, Nigerians know little or nothing about pension. They added that even those who knows about the scheme do not have the trust as to understand that the sector is a protected industry as such there should be no fear of loss of the saved funds. At the 2023 media retreat organised by the Pension Operators Association of Nigeria(PenOp) the umbrella body of Pension Fund Administrators, the operators recalled that the condition of pensioners during the pre Contributory Pension Scheme (CPS) era was nothing desirable .They recalled that pensioners were nothing better than destitutes in different corners of the country, where they cluster to wait endlessly to collect their meager benefits . The situation, they said, continued for many years until in June 2004 when the former President Olusegun Obasanjo instituted a massive reform in the pension sector having adopted the prevailing Contributory Pension scheme (CPS) from Chile to replace the Pay as you go system. The former President through the lawmakers enacted the Pension Reform Act that instituted the CPS establishing the National Pension Commission (PenCom) as the regulatory authority. CPS and its objectives The CPS which is contributory in nature is fully funded and is privately managed and ensures that every one who worked in Nigeria receives his retirement benefits as at when due. It covered all employees in public and private sector but exempts all workers who had three years or less to retire and persons covered by the provisions of section 291 of the

constitution of federal republic of Nigeria 1999. The main objective of the CPS is to ensure that every person that worked in either the public or private sector in Nigeria receives his or her retirement benefits as and when due. Features of CPS One of the major difference between the old pension scheme and the CPS is that whereas the old pension schemes were not fully funded as such at retirement, the pensioners were not sure of getting their benefits due to paucity of funds, the CPS is fully funded .Money for settlement of workers at retirement is contributed and is waiting for collection at individual employee’s account ie Retirement Savings Account (RSA) . Before the CPS establishment, government had huge deficit of over N2 trillion in pension but twenty years after the establishment of the CPS, the scheme has accumulated over N17.5 trillion invested in various portfolios . In his

paper at the retreat titled “At the Dawn of 20 Years of Pension Reform What are the Gains?”, Retirement Benefits Paid PenOp Chief Executive officer, Mr Oguche Aguda said in the past 15 years Pension Fund Administrators (PFAs) have paid a total sum of N1.63 trillion to retirees in both public and private sectors under both programme withdrawal. He said the above figure was paid to 442,000 Nigerians who retired from services in various employments in the country during the period. Agudah said out of the N1.63trillion lump sum paid on both life annuity and programme withdrawal, in the second quarter 2023 total life annuity payment stood at N665.1 billion .This according to him was received by 111.708 applicants. He said in third quarter 2022, a total of N595.22billion was paid to 102,696applicants as annuity lump sum. He said in third quarter 2019, a total

of N386.30 billion was paid as annuity life lump sum to 71,214 applicants while in the third quarter 2015, a total of N101.96 billion was paid to 20,615 applicants and in third quarter 2011, N1.51 billion was paid to 331 applicants as annuity. Oguche said under programme withdrawal, in second quarter 2023, a total of N964,239.47 billion was paid to 339,201 applicants as lump sum under programme withdrawal while in third quarter 2022,N887,604.25bn was paid to 315, 112 applicants in third quarter 2022. In third quarter 2019, a total of N 589,335.78bn was paid to 117,502 applicants under the programme withdrawal while in third quarter 2015, N288,541.87 was paid to 117,502 applicants and in third quarter 2011, a total of N99,297.37bn was paid to 35,419 applicants. The Annuity and programme withdrawal systems are two windows through which retirees under the Contributory Pension Scheme receive their retirement benefits . He insisted that twenty years down the line the Contributory Pension Scheme instituted by the former President Olusegun Obasanjo has recorded significant growth with the total assets now standing at N17.65 trillion as at October this year. Key Issues in CPS Management Also speaking, PenCom Head of Survillance department, Dr Ehimeme Ohioma said the three key issues in pension management which all PFAs must not joke with were adequacy, sustainability and service delivery . According to him, pension payment must be adequate for retirees to solve their problems. He however said for pension payment to be adequate, workers and their employers must contribute adequately because a worker’s contributions determine his payment at retirement. He said the pension system must be sustained to ensure continuity . He said to ensure that continuity, the managers must ensure that in this period of inflation, return on investment was above inflation. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Challenge of Policy Making in Developing Countries: The Nigerian Case Aloy Nwosu

Synopsis of Policy – Making Process

overnments usually intervene to address major economic concerns by first articulating economic policies which set out the mode of intervention or the course of action to be undertaken by government to address the economic issue or to achieve an objective. The government has at its disposal a vast array of policy instruments from which it can choose to deal with the issue of concern or achieve the objective. A critical aspect of the policy formulation process is choosing the policy instrument or combination of instruments that would most effectively achieve the desired goal. The pressing question is: Which policy option, among alternatives, offers the “best” prospect for resolving the issue of concern or achieving the specific economic objective? Selecting the policy option is usually done in stages. The first step is to generate a shortlist of policy options that are considered to offer prospects to resolve or address the issue of concern. The second step is to actually attempt to assess or quantify or “forecast” the prospect of resolving the issue offered by each of the shortlisted policy options. This is the policy “impact analysis” stage. It is an ex ante analysis which has to be undertaken for purposeful policy making. The relevance of impact analysis is perhaps, made clearer by the following economic management questions which it ought to address: (i)What are the benefits and costs of the policy option? (ii) How are the costs and benefits distributed among social classes and demographic groups? (iii) How acceptable to the general public or the affected groups is the policy option? (iv) How relatively easy is operationalizing the policy option? Or, how practicable is the policy option? (v) Is the policy

option compatible with existing policy and legal frameworks or is a new legislation required? The above questions are encapsulated in a set of criteria which form the basis for selecting policy options, in the policy formulation process. They are the criteria of “effectiveness”, “time lags”, “predictability”, “consistency” and “unintended effects”. The meaning and implications of the selection criteria will become clearer as we attempt to apply them to the recent policies implemented in Nigeria: (i) Abrogation of Premium Motor Spirit (PMS) Subsidy (ii) Decontrol of Exchange Rate System (iii) Re-instatement of 43 items removed from the import list. To achieve the objectives of the policies, the government adopted the Direct Control policy option which entails issuing directives or “fiat” to specify the level or the mode of conduct in the procurement of an economic activity. The advantage of the policy option is that it takes immediate effect unless otherwise stated. The directives issued by the President at his inauguration was all that was required for the policies to take effect.

PMS Subsidy Abrogation Policy

The “effectiveness” of a policy instrument is usually analyzed in the context of government objective for making the policy. As indicated by the government, the primary objective for implementing the subsidy removal policy is to harness the huge amount of financial resources hitherto, channeled into a subsidy programme that was corruption ridden and was said to have become a drain pipe for illicitly siphoning public funds into private pockets. There were secondary objectives, as indicated in the news media, such as: (i) Raising the

price of petrol in Nigeria to prevent the smuggling of the commodity to neighbouring countries where the price is relatively higher and (ii) Bringing about a more efficient utilization of the commodity in Nigeria. From all indications the primary objective has been achieved. The government has stated that it has amassed huge savings during the brief period of implementation of the policy. And, available statistics show that the quantity of petrol dispensed locally has reduced drastically. Apparently, Nigerians are making more efficient use of the commodity and the cross border trade appears to have reduced. There is of course, no reckoning of the opportunity cost of the economic activities forgone as a result of the inaccessibility of the commodity, occasioned by the price escalation that came with subsidy removal. Apparently, “time lags” did not pose any problem as there was absolutely no bureaucratic red tape. The pronouncement was more like a “fiat” issued on national television. The marketers adjusted their pump prices on the same day, as if they were waiting in anticipation of the directive. There was certainly lack of concern for the “predictability” of the policy option. This manifested in the absolute lack of preparation for the attendant socio-economic challenges. Firstly, anyone who is fairly conversant with the behavior of petrol marketers and indeed, the behavior of a “typical” Nigerian “businessman” would have predicted the instantaneous reaction of the marketers. Secondly, “subsidy removal” is a “decontrol” policy measure. There were some socio-economic challenges which, in the first place, necessitated the “control” measure (i.e. subsidy payment). Unless those challenges are perceived to have disappeared, subsidy removal could lead to their re-emergence or exercabation. Furthermore, there is hardly any area of activity (economic or non-economic)

in which energy is not required in one form or another. In an economy in which electric energy is grossly inadequate and epileptic in supply and, in which solar, gas and other sources of energy have remained underdeveloped, fossil fuels (precisely petrol and diesel) become the primary sources of energy. If the required ex ante analysis was conducted, it would have been clear that fuel subsidy removal would have horrific, economy – wide effects. And, at least some thought would have been given to how to implement the policy and how the adverse effects would be ameliorated in the short-run and completely resolved in the medium to long-term. The issue of the “consistency” of a new policy instrument is difficult to determine in an economy – wide setting because a gamut of policy instruments are employed to manage the economy at any point in time. Nevertheless, it should be apparent that while the subsidy removal policy may be in consonance with other policies aimed at expanding government revenue, it certainly will be expected to be at variance with policies aimed at enhancing socio-economic welfare and increasing government spending. Purposeful policy making requires that the ways and means of ameliorating the effects of such unavoidable policy conflicts be determined a priori. There was certainly no concern shown for the “unintended effects” of the policy option. There appeared to be a consensus among Nigerian elites that the corruption ridden subsidy programme should be scrapped. What deterred taking action in this direction was not “lack of political will”, as some analysts have averred, but the concern for the negative unintended side effects. Choosing policy options that would reduce to the barest minimum the unintended effects and would allay the fears of the labour unions was the major challenge. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY, DECEMBER 20, 2023 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 18Dec-2023, unless otherwise stated.

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

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

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 303.09 303.09 60.78% Afrinvest Plutus Fund 100.00 100.00 9.77% Nigeria International Debt Fund 339.23 339.23 5.08% Afrinvest Dollar Fund 110.03 110.03 6.29% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.71% AIICO Balanced Fund 4.90 5.00 44.19% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.03% Anchoria Equity Fund 187.67 190.13 29.47% Anchoria Fixed Income Fund 1.27 1.27 3.22% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 29.71 30.61 35.39% ARM Discovery Balanced Fund 653.60 673.31 25.40% ARM Ethical Fund 53.76 55.38 19.16% ARM Eurobond Fund ($) 1.17 1.17 4.27% ARM Fixed Income Fund 1.16 1.16 4.58% ARM Money Market Fund 1.00 1.00 10.74% ARM Short Term Bond Fund 1.07 1.07 2.86% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.39 106.39 16.79% AVA GAM Fixed Income Naira Fund 1,150.67 1,150.67 7.31% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 196.24 197.62 45.49% AXA Mansard Equity Income Fund 1.00 1.00 11.89% AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.23 2.23 9.53% CEAT Fixed Income Fund 3.01 3.08 33.64% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.05 1.05 7.92% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.04% Cordros Milestone Fund 167.24 168.41 29.92% Cordros Fixed Income Fund 107.38 107.38 10.35% Cordros Halal Fixed Income Fund 109.08 109.08 10.98% Cordros Dollar Fund ($) 114.16 114.16 6.19% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1540.78 1540.78 11.96% FBN Balanced Fund 265.04 267.31 43.41% FBN Halal Fund 133.11 133.11 13.22% FBN Money Market Fund 100.00 100.00 11.83% FBN Dollar Fund 123.60 123.60 7.72% FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund 111.46 111.46 9.49% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.75% Legacy Debt Fund 3.57 3.57 -0.04% Legacy Equity Fund 2.71 2.77 35.62% Legacy USD Bond Fund 1.32 1.32 4.87% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 5,620.04 5,662.22 34.80% Coral Income Fund 3,988.00 3,988.00 7.71% Coral Money Market Fund 100.00 100.00 11.89% FSDH Dollar Fund 1.19 1.19 5.81%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.81 1.84 17.53% Lotus Halal Fixed Income Fund 1,211.41 1,211.41 10.63% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 18.04 18.20 53.99% Meristem Money Market Fund 10.00 10.00 12.74% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 104.21 104.21 11.98% Norrenberger Money Market Fund (NMMF) 100.00 100.00 12.15% Norrenberger Dollar Fund (NDF) ($) 103.53 103.53 11.15% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.25 2.30 43.10% PACAM Fixed Income Fund 11.99 12.21 8.13% PACAM Money Market Fund 10.00 10.00 8.66% PACAM Equity Fund 2.16 2.19 52.04% PACAM EuroBond Fund 131.04 134.12 17.61% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 162.92 168.09 29.60% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund N/A N/A N/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,900.87 4,944.07 44.63% Stanbic IBTC Bond Fund 255.47 255.47 8.45% Stanbic IBTC Ethical Fund 2.02 2.04 61.11% Stanbic IBTC Guaranteed Investment Fund 351.82 351.96 12.38% Stanbic IBTC Iman Fund 367.51 372.00 57.36% Stanbic IBTC Money Market Fund 1.00 1.00 11.41% Stanbic IBTC Nigerian Equity Fund 17,634.04 17,851.84 61.53% Stanbic IBTC Dollar Fund (USD) 1.46 1.46 13.07% Stanbic IBTC Shariah Fixed Income Fund 127.97 127.97 9.46% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 125.52 125.52 17.99% Stanbic IBTC Absolute Fund 4,993.22 4,993.22 17.37% Stanbic IBTC Aggressive Fund 5,240.67 5,306.46 88.50% Stanbic IBTC Conservative Fund 5,219.63 5,244.26 37.17% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.32 1.33 43.82% United Capital Balanced Fund 1.80 1.81 38.65% United Capital Wealth for Women Fund 1.39 1.40 29.16% United Capital Sukuk Fund 1.18 1.18 11.42% United Capital Fixed Income Fund 1.95 1.95 6.89% United Capital Eurobond Fund 124.09 124.09 5.53% United Capital Global Fixed Income Fund 1.08 1.08 8.58% United Capital Money Market Fund 1.00 1.00 11.95% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 18.30 18.51 32.10% Zenith ESG Impact Fund 21.74 21.98 37.61% Zenith Income Fund 25.46 25.46 8.09% Zenith Money Market Fund 1.00 1.00 11.68% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 8.50 8.60 110.55% Vetiva Consumer Goods Exchange Traded Fund 11.41 11.51 94.47% Vetiva Griffin 30 Exchange Traded Fund 26.05 26.25 47.05% Vetiva Money Market Fund 1.00 1.00 10.29% Vetiva Industrial Goods Exchange Traded Fund 26.93 27.13 34.59% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS

NAV Per Share

Yield / T-Rtn

N/A 59.27 101.79 10.04

N/A 11.79% -12.08%

Bid Price

Offer Price

Yield / T-Rtn

20.98 460.00 702.00 21.68 36.10

23.19 460.00 702.00 22.04 36.52

42.27% 257.36% 596.08% 53.84% 106.77%

NAV Per Share

Yield / T-Rtn

N/A

Fund Name

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

EXCHANGE TRADED FUNDS

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

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

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

T H I S D AY • WEDNESday DECEMBER 20, 2023

Property & environment WTC Abuja Residences Elevates Urban Living with Unrivaled Luxury, Connectivity, Community WTC Abuja Residences, built by the Churchgate Group in a choice location in Abuja, is a great combination of urban living that presents an unrivaled luxury, connectivity, and community. Bennett Oghifo writes

hurchgate Group’s WTC Abuja Residences is designed and rendered to provide Luxury Living, Mr Karim Adelaja Ahmed, Vice President World Trade Center Abuja, stating that the company’s journey into luxury real estate began with a steadfast commitment to excellence and a vision to redefine the standards of opulence in Nigeria. Ahmed said the World Trade Center Abuja represents a beacon of opulence and prosperity in the heart of Nigeria’s Federal Capital City. With a vision to redefine luxury living and corporate excellence, the WTC Abuja stands as a meticulously planned complex spanning over 100,000 square meters, embodying the epitome of sophistication; purposeful luxury and innovation. The core vision of WTC Abuja is to set a new standard for luxury real estate development, featuring a residential tower and AAA offices that exude sophistication and opulence. A meticulously planned complex, the WTC Abuja seamlessly blends modernity with Nigeria’s rich cultural heritage, offering a distinctive experience for those who seek the pinnacle of refined living. Presently, the residences and offices within the WTC Abuja Complex are ready and occupied. The vision unfolds as individuals seamlessly transition between “living, working and playing” – all within the same prestigious location. With 120 luxury apartments and 33,000 square meters of office space, WTC Abuja is not just a development; it is a purposefully built community that caters to every aspect of an elite lifestyle. The WTC Abuja towers, he said, proudly stand as the first purpose-built World Trade Center in West Africa. As you drive from the Nnamdi Azikiwe International Airport, the 25-story towers emerge as a symbol of distinction, welcoming you into the Central Business District like no other real estate development. WTC Abuja is more than a complex; it is a manifestation of the Churchgate Group’s commitment to promoting trade, business investment, hospitality, and tourism in Nigeria. Aligned with the goals of the World Trade Centers Association, WTC Abuja is positioned as the premier address for upscale office spaces, luxury residences, retail shopping, and leisure activities in Nigeria and Africa. On the choice of Abuja for the development of the iconic towers, he said, “While Lagos thrives as a commercial hub, Abuja emerges as the epicenter of commerce in Africa – an evolving business hub, the center of political power, and global business in the continent. WTC Abuja aims to be the

distinctive landmark and iconic complex befitting Nigeria’s Federal capital city, offering an environment for residents to interact with influencers and leverage high-brow society connections.” Founded 1968, the Churchgate Group has consistently embraced a forward-thinking approach, leveraging its expertise and unwavering dedication to delivering unparalleled quality in every project, he said. “Our decision to invest in the luxury niche stems from our belief in providing not just housing but a lifestyle that transcends expectations. We recognise the discerning tastes of our clientele and understand the importance of creating living spaces that reflect sophistication, innovation, and cultural richness. By focusing on luxury real estate, we aim to set new benchmarks and elevate the standards of living in Nigeria. “The Churchgate Group is defined by its unwavering commitment to excellence, innovation, and the relentless pursuit of quality. Our core values revolve around integrity, customer satisfaction, and a forward-thinking mindset. As a conglomerate, we diversify our investments across various sectors, with a common thread of delivering exceptional value and contributing positively to the growth and development of Nigeria.” The World Trade Centre Abuja, he said, is a monumental project that demanded meticulous planning and adherence to the highest standards. While the vision was grand, various factors, including regulatory approvals, intricate architectural designs, and the complexity of integrating diverse facilities, contributed to the extended timeline. Despite challenges, our unwavering commitment to delivering an iconic and world-class development remained steadfast. Discussing how Churchgate is weathering the storms of a debilitating Nigerian economy, occasioned by hyperinflation and unstable exchange rates, he said, “Navigating the challenges posed by a challenging economic landscape requires adaptability and resilience. Churchgate Group employs strategic financial management, innovative solutions, and a proactive approach to mitigate the impact of hyperinflation and unstable exchange rates. Our focus on delivering value and maintaining high standards ensures that we not only weather the storms but also emerge stronger in the face of economic challenges.” On what Nigerians, especially property enthusiasts, should expect from the Churchgate Group going forward, he said, “Looking ahead, Nigerians and property enthusiasts can anticipate the Churchgate Group’s continued

WTC Abuja Residences

commitment to excellence and innovation. We remain dedicated to shaping the future of luxury real estate in Nigeria, introducing iconic developments that redefine the landscape. Our focus includes expanding our portfolio, embracing sustainable practices, and contributing significantly to the growth and transformation of Nigeria’s real estate sector. As a beacon of sophistication, Churchgate Group is poised to set new standards and create enduring legacies for generations to come.” He said for Investors affiliated with the World Trade Center Association, WTC Abuja provides access to diverse global business and economic opportunities. Proximity to the seat of power in Nigeria offers the chance to influence international trade and policy decisions directly. He said, “For residents and businesses, located in the Diplomatic zone, WTC Abuja ensures added security, creating a peaceful environment for both work and residence. Unbeatable location – only 5 minutes away from Federal government offices and the seat of power – offering business proximity to the entire Abuja metropolis. Convenient transportation with the Abuja Metro railway adjacent to the complex, ensuring a 15-minute commute to and from the international airport. As we welcome high-net-worth local and international organisations to the World Trade Center Abuja, we invite you to be part of a legacy that redefines luxury, sophistication, and prosperity in the heart of Nigeria’s capital. On what sets WTC Abuja Residences apart

for those seeking a unique living experience, he said, “WTC Abuja’s prime city center location offers unparalleled access to business districts, commercial centers, and recreational facilities—a true embodiment of vibrant urban living. Complementing this are world-class amenities meticulously crafted to enhance the overall quality of life, prioritising resident safety with top-notch security features. Inside the apartments, luxury and comfort prevail, fostering a sense of community through engaging social events and networking activities. “The residential towers provide an exceptional opportunity for luxurious living through rental arrangements. A thriving community has been steadily growing for up to three years, offering a lifestyle that fosters a profound sense of belonging. The towers boast a diverse residency, contributing to the dynamic and cosmopolitan nature of the WTC Abuja community, making it a long-term lifestyle choice. “WTC Abuja Residences not only foster networking and interaction among professionals and entrepreneurs, opening avenues for business partnerships and collaborations but also offer an exclusive recreational clubhouse for its residents. Regular community events, networking programs, and industry-specific gatherings provide opportunities for residents to connect, ensuring that the potential for collaboration extends beyond the workplace. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Public, Private Sectors Collaboration Necessary in Community Devt, Say Workshop Participants Goodness Sunday Participants at a workshop on community development have stressed the need for collaboration between the public and private sectors in the provision of infrastructure.

This was one of the outcomes of a workshop that was organised by Heinrich Böll Stiftung (HBS) and Rethinking Cities Initiative (RCI) in collaboration with The Centre for Housing and Sustainable Development of the University of Lagos

(CHSD-UNILAG). The workshop, titled “Community Infrastructure Projects and Lagos State Development Plan 2052: Reality, Planning and Implementation”, was held in Lagos, recently. The workshop, which was

attended by professional bodies, non-Governmental Organisations (NGOs) and government agencies, discussed the profound impact of infrastructure initiatives on local communities within the context of Lagos’ long-term development strategy.

With Lagos organised into Residents Associations, Landlord Associations and Community Development Associations, it overlooked the roles of the federal, state and local governments in community developments.

According to Lagos State officials, the immediate need to focus and act in order to strengthen community development in Lagos was initiated in January 2023, where five communities were chosen for Asset Mapping Exercise.

Adhere Strictly to Regulations, Sanwo-Olu Tells Real Estate Practitioners, Property Developers Goodness Sunday Lagos State Governor Babajide Sanwo-Olu has warned real estate practitioners and property developers to adhere strictly to the building regulations of the state or risk being sanctioned. The governor stated this at the 4th Lagos Real Estate Market Place Conference and Exhibitions, organised by the Lagos State Real Estate Regulatory Authority (LASRERA), recently. The theme was: ‘Real Estate Regulation: A Panacea for Disaster and Recovery in the Built Industry’. The Governor, who was represented by the Lagos State Commissioner for Housing,

Honorable Moruf AkinderuFatai, emphasised the need for all players in the built industry to avoid undermining established rules, processes, procedures and abide by all regulations guiding real estate practice, including the Lagos State Real Estate Regulatory Authority (LASRERA) laws and other related regulations. He stated that, “It is within this context that we deliberate on the transformative potential of regulating the real estate sector. This would serve as a panacea for not only mitigating risks that could result from disasters but also facilitate a transparent and enabling environment for the licensed

practitioners within the Industry.” The governor said, “A significant step that we have taken in this regard was the signing of the amended The Lagos State Real Estate Regulatory Authority (LASRERA) law in February last year. This law recognises the pivotal role which real estate regulation plays in disaster mitigation. “In order to minimise the risk of disasters and enhance the resilience of structures, it has become compulsory for relevant authorities to require individuals/organisations to purchase insurance coverage against natural disasters.

L-R: Head Corporate Communication, GTco, Tolulope Onipede, Representative, GTCO, Oluwatosin Onabanjo, Head of Service, Lagos State, Mr. Bode Agoro, Permanent Secretary, Lagos State Health District 3, Dr. Monsurat Adeleke, General Manager, Afrilife Healthcare Services, Patience Ugbaja, and Programme Officer Health, TY Danjuma Foundation, Abua Eucheria at the 2 Day Management Retreat organised by the Lagos State Health District 3, in Victoria Island, Lagos... recently

T H I S D AY • WEDNESday DECEMBER 20, 2023

Education Maltina Teacher of the Year Competition: Nine National Council on Education Commends Years of Putting Teachers in the Spotlight Tinubu for Exempting Varsities from IPPIS Uchechukwu Nnaike

Funmi Ogundare

The National Council on Education (NCE) has commended President Bola Tinubu for exempting the tertiary institutions from the Integrated Payment and Payroll Information System (IPPIS) and granting them autonomy to recruit their own staff, for which the ministry would develop guidelines to guard against the abuses. This was contained in a statement issued at the end of its 67th meeting in Lagos, themed, ‘Addressing the Challenges of Policy Implementation: A Panacea for the Achievement of Education 2030 Agenda’. The council emphasised the importance of focusing on foundational education, reiterating its commitment to deal with the embarrassing issue of out-of-school children and the Almajiris in the country. The NCE also approved some major policy decisions that would guide the implementation of the education sector in the next year, including the draft roadmap for

the Implementation of Quality Early Childhood Care Development and Education (ECCDE), the implementation of the Education for Renewed Hope: A Roadmap for the Nigerian Education Sector (2024 – 2027), designed to address the challenges of education, including disabilities as well as exempting prison inmates from post-UTME and their obtainable scores be adjusted to 100 per cent, while anyone minimally qualified should be granted admission. Other policy decisions include the draft re-entry guidelines for girls who dropped out of school prematurely as a result of marriage/pregnancy as a reference document; the reviewed national policy on inclusive education as a working document in Nigeria; the reviewed National Education Quality Assurance Policy and its implementation guidelines as a working document in Nigeria; the reviewed National policy on HIV and AIDS for the education sector as a national working document in Nigeria.

Teach For Nigeria Institutes Award to Honour Ex-board Chairman Teach For Nigeria (TFN), a non-profit organisation committed to promoting educational equity and excellence in Nigeria, has organised a farewell dinner to celebrate Mr. Gbenga Oyebode for his six years of dedicated and transformative leadership as the TFN board chairman. The event, held in Lagos, was attended by notable philanthropists, government officials, board members, and ambassadors of Teach For Nigeria. Oyebode served as the pioneer board chairman of Teach For Nigeria. His unwavering commitment has been instrumental in steering the organisation towards its vision of expanding educational opportunities for all children in Nigeria. Under Oyebode’s leadership, the organisation expanded its reach across four states, placing over 1,500 fellows, with more than 190,000 children impacted, and developed an alumni network of 835 visionary leaders changing Nigeria’s education landscape. In her remarks, the CEO of Teach For Nigeria, Folawe Omikunle, com-

mended Oyebode for his unwavering commitment and guidance in steering the organisation’s vision. “Mr. Oyebode’s passion for educational equity has inspired us all and has left an indelible mark on our journey towards unlocking the potential of all children in Nigeria,” she stated. The current board chair, Kunle Elebute, extolled Oyebode’s leadership qualities and outstanding contribution to the growth of Teach For Nigeria. He announced the Gbenga Oyebode’s Outstanding Leadership Award for exceptional Teach For Nigeria Fellows as a legacy project in honour of the former board chairman. Oyebode described Teach For Nigeria as an essential vehicle for change in Nigeria’s education. He called on everyone to become great role models, donate their time to the cause, and continue to show up to address education inequity in Africa. He promised continued support for the organisation to ensure Teach For Nigeria remains successful.

The 2023 edition of the Maltina Teacher of the Year Competition has come and gone, but its echoes keep reverberating in the Nigerian educational circle. It was a night of stars at the Jewel Aedia, Lagos, where the grand finale was held recently. The award, in its ninth year, has transformed the lives of many teachers, bringing them out of obscurity into the limelight. An initiative of the Nigerian Breweries-Felix Ohiwerei Education Trust Fund, the Maltina Teacher of the Year Competition recognises, celebrates, and rewards extraordinary teachers who have contributed immensely to moulding Nigerian children and youths. As the popularity of the competition among teachers made

headlines this year, recording the highest number of entries ever, 1,499 entries nationwide, the story got more interesting with an impressive 1,203 valid entries for grading. At the end of the rigorous evaluation by the esteemed panel of judges, the top 10 finalists emerged. On the night of October 20, 2023, the Maltina Teacher of the Year was unveiled to roaring applause. Adeola Adedunke Adefemi of Keke Senior High School, Agege, Lagos, was crowned the winner. Like previous shining lights of the award, she will receive N6.5 million (N1.5 million immediately and N1 million annually for the next five years) from the Nigerian Breweries - Felix Ohiwerei Trust Fund. The roll-call of winners continued with Azuh Chike, a teacher with Ezemu Girls

Grammar School, Delta, as the first runner-up, with a cash prize of N1.5 million. Adam Abdulqadir Ndi of Model Science College, Niger State, the second runner-up, went home with a N1.25 million cash prize—the remaining 27 teachers who emerged as state champions were rewarded with N500,000 each. The event featuring past winners, the top 10 finalists, management and staff of Nigerian Breweries Plc, dignitaries, and the media was filled with fun and enlightenment. Among the dignitaries present was the Minister of State for Education, Dr. Yusuf Sununu, who, in his goodwill message, commended the efforts of Nigeria Breweries Plc-Felix Ohiwerei Education Trust Fund to celebrate outstanding teachers across Nigeria and cited

the growing national efforts to bring back the glory days of teachers in the country. The Commissioner for Basic and Secondary Education, Jamiu Alli-Balogun, who represented Governor Babajide Sanwo-Olu, also praised the company for its significant contributions towards making the teaching profession rewarding. He stated that the state government appreciates the significance of such competition in improving the quality of teaching and students’ performance. The winner of the coveted prize, Adeola, who was delighted to be among the illustrious list of past winners, was grateful to Nigerian Breweries Plc for shining the light of recognition on the teaching profession and rewarding teachers through the initiative.

L-R: Corporate Affairs Director, Nigerian Breweries Plc, Sade Morgan; Chairman, NB Plc, Asue Ighodalo; winner, 2023 Maltina Teacher of the Year, Miss Adeola Adefemi; Commissioner for Basic and Secondary Education, Lagos State, Jamiu Alli-Balogun; and Minister of State for Education, Dr. Yusuf Sununu, at the presentation of N6.5 million grand prize to Adefemi in Lagos

Mountain Top University Marks Five Years of Uninterrupted Academic Activities Mary Nnah

As the Mountain Top University, Ogun State, prepares to host the world and the academic community at its fifth convocation ceremony on December 21, it will be celebrating a significant milestone as it marks the fifth time the university will be graduating students through an uninterrupted academic programme since inception in 2015.

Briefing journalists on Monday, the Vice-Chancellor, Prof. Elijah Adebowale Ayolabi, said the occasion was a landmark event which underscores the university’s commitment and inclination to success. “Exactly one year ago, we all gathered here for a similar occasion while preparing for the fourth convocation ceremony of the university. Since then, the university has grown in leaps and bounds,

evident in the uninterrupted academic progress in the last year,” Ayolabi noted. The vice-chancellor pointed out that one of the cardinal objectives at the university’s inception is to ensure seamless, uninterrupted academic progress. “Every year, students who meet the requirements for graduation and complete their academic requirements pass out from this university with flying

colours,” said Ayolabi. “This is part of our commitment, and we will pursue it vigorously to maintain our reputation as a university of excellence in Nigeria and in the world at large.” This year’s convocation would have 348 graduands, from which 329 would be conferred with first degree, two with PhD, and one with MPhil., 15 with master’s degree, and one with postgraduate diploma.

Greensprings’ IB Diploma Students Donate Learning Materials to Public School Uchechukwu Nnaike

As part of its Creativity Activity and Service (CAS), the IB Diploma students of Greensprings School, Lagos, recently donated over 700 books and other learning materials to Oworonshoki Primary School. The gesture tagged ‘IB CAS Book Drive’ aligns with the Sustainable Development Goal (SDG 4), which aims to provide essential academic resources to schools in their vicinity that lack them.

The presentation ceremony also featured an enlightenment session on the importance of books and reading. According to the CAS Coordinator, IB Department, Mr. Kenechukwu Agu, the CAS is an aspect of the IB programme which sees to the all-round development of the students in terms of community service, creativity, etc. While emphasising the importance of education and reading, he urged other organisations interested in

giving back to the community to consider projects that are sustainable and have lasting impact. One of the students, Monalisa Dike, said they saw that some schools around them did not have the kind of facilities and basic necessities that they had, so they decided to start a book drive to promote education around them. Another student, Jasmine Adegoke, said the book drive aligned with the school’s mission of promoting holistic

education, appealing to other students and parents to donate books. The headteacher of the benefiting school, Mrs. Olufunke Oyalabu, thanked the donor and promised to make judicious use of the materials. She said the items would alleviate the suffering of the children. A representative of Kosofe LGA, Mr. Abayomi Elugbedu, commended the IB Diploma students for the gesture, which he said would improve the lives of the beneficiaries.

T H I S D AY • WEDNESday DECEMBER 20, 2023

CITYSTRINGS

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

Youth Talks: Sub-Saharan African Youths Aspire to Make Something of Their Lives

Unveiling the hopes and aspirations of a generation, the groundbreaking Youth Talks report has shed light on the needs and desires of young people worldwide. This landmark study, drawing upon the voices of over 45,000 individuals aged 15-29 hailing from 212 diverse nations and territories, has addressed the critical question: what do they need to find purpose, live in harmony, and collectively tackle the challenges of our times? In this conversation with Marine Hadengue, the driving force behind Youth Talks, we embark on a deeper exploration of the report's rich, impactful, and actionable insights. Precious Ugwuzor brings excerpts

an you provide a brief overview of the Youth Talks initiative and its mission? Youth Talks is the largest youth consultation ever conducted worldwide. Addressed to any young people (15 – 29 years old) regardless of their geographical or social origins, it uses open-ended questions and state-of-the-art AI technologies to gather how today’s youth view the future and the skills they will need to shape it and flourish in it. It is a safe space of expression for young people to share their dreams, ideas, aspirations, and concerns about the future, without any form of censorship. Youth Talks aspires to be an essential conduit between what young people want and actionable societal change. Youth Talks' first edition, led from October 2022 to May 2023, was very successful as we were able to gather 1,000,000 ideas from 45,000 young people across 212 countries and territories.

processes. These proposals will be diverse and customized according to the specific needs of the organizations we engage with. They will serve as resources accessible to political entities and governments. We hope that stakeholders in Nigeria will embrace and take ownership of this work. The significant engagement of African youth, with over 1229 participants and 13051 contributions, as well as approximately 50 active ambassadors, demonstrates their keenness to express themselves and actively engage in global decision-making. This underscores the significance of providing a platform for the younger generation in this region to voice their opinions and contribute to addressing the challenges they encounter. This approach ensures that their distinct perspectives are taken into account when formulating policies and initiatives that affect their future and the broader world.

What inspired the Higher Education for Good Foundation to launch Youth Talks, and how does it align with the foundation's broader goals? The Higher Education for Good Foundation (HE4G) emerged from an observation: today’s higher education no longer equips young people to meet the challenges of our time: growing inequalities, climate change, biodiversity losses, sanitary crisis, energy crisis, A.I. revolution, to name but a few. HE4G aims to address this gap by supporting educational institutions through Youth Talks, an initiative that collects insights from young people to reshape curricula and meet the demands of the 21st century. Beyond education, Youth Talks has evolved into a catalyst for societal change, advocating for youth voices to influence policymakers at all levels. HE4G intends to collaborate closely with decision-makers to ensure that the needs and perspectives of young individuals are considered in shaping policies and decisions across society.

Could you share specific examples of how Youth Talks plans to evolve its mission from giving youth a platform to raising their issues to giving them a seat at the table? We began by aiming to give voice to the youth to transform higher education. Very quickly, the project transcended its initial purpose, and now, we aspire for Youth Talks to become the leading platform for the voices of youth worldwide. We aspire for Youth Talks to exert a wideranging influence across all facets of society, empowering the youth in various spheres of their lives. Our ambition is to leverage a series of deliverables derived from our findings, guiding and informing numerous stakeholders in their decision-making processes concerning the expectations and requirements of the youth : politics, governments, international and local institutions, corporate world… Furthermore, we are actively working on youth empowerment. Our goal is to support and guide the young members of the Youth Talks community towards a stronger and more pronounced civic engagement. Our network of ambassadors, which currently includes 2,300 young individuals, serves as a perfect example. Beyond relying on them to gather responses for our consultation, we have supported, trained, and guided them in their roles as ambassadors to help them develop skills beneficial for their professional and personal lives. These lessons can be applied in their everyday civic engagement.

Youth Talks conducted the world's largest open youth consultation. Could you elaborate on the methodology used for this consultation and the challenges faced in gathering data from over 45,000 participants across 212 countries and territories? One of the pillars of Youth Talks is scientific precision. Therefore, we have built our entire methodology in collaboration with a scientific committee composed of experts from the research community. The two crucial aspects of our methodology are the use of open-ended questions, which have provided young people an incredibly free space for expression without imposing a specific mindset on them, and the utilization of cutting-edge AI technology to gather and analyze a vast amount of data. As an international consultation, we faced numerous challenges. The first was to create a consultation that would allow every young person to participate, regardless of their social or geographical environment. This inclusivity is a core principle of Youth Talks. To counteract this initial challenge, we decided to offer the consultation in 6 languages to enable as many young people as possible to respond in their native language. Secondly, we allowed young people to express themselves in writing as well as through voice recordings and the sharing of photos. Our goal was to enable everyone to find the format of contribution that suited them best. Finally, we established a network of ambassadors whose mission was to help us overcome the digital divide in certain regions by reaching out to communities to collect responses. The second challenge we faced was gaining recognition. As a brand-new foundation with

Hadengue an entirely new project, we had few established footholds to rely on. Social media and advertising were valuable assets, but it was the presence and support of our numerous partners that made the difference. Today, we have gathered around us nearly 60 partners: business schools, youth institutions, higher education institutions, media, and international organizations. We even have the support of major international institutions such as Principles for Responsible Management Education (PRME) - a UN initiative - and the Club of Rome, convinced of the impact of our project for the greater good. According to the report, Youth Talks leveraged state-of-the-art artificial intelligence. How was AI employed in the initiative, and how does it contribute to gaining insights from the global youth population? Youth Talks uses cutting-edge AI technologies to digest the information collected and produce concise, relevant deliverables adapted for different stakeholders, including educational institutions, youth organizations, governments, companies, the media or the general public. The AI used in the Youth Talks initiative primarily involves the semantic clustering algorithm on Bluenove's Assembl platform. Additionally, AWS Transcribe was used for converting audio contributions to text, and Google Translate was employed for translating responses into English. The report highlights specific concerns raised by Nigerian participants, such as individualism,

the educational system, political issues, discrimination, and empowerment. How does Youth Talks plan to address and amplify these concerns at both local and global levels? Youth Talks’ mission is to bring the voices of the world's youth to the attention of organizations and decision-makers and to influence their actions to better meet the needs and aspirations of young people. Our main actions will be to transform all the insights of our consultations into actionable proposals to guide decision-makers in changing society. Depending on the continents, regions, countries, communities, or socio-economic categories they belong to, young people have different expectations, ambitions, and needs. Thus, it's crucial to tailor our proposals to suit both local and global contexts, aligning with the specific stakeholders we aim to engage. The outcomes of our consultation will be disseminated through various means, including an online platform customized to match the realities of our target stakeholders: proposing educational institution program content, providing datasets for academic researchers, delivering reports for companies, presenting white papers for governments, or organizing art exhibitions for the general public. How do you imagine Nigerian leaders and organisations incorporating the insights from Youth Talks into their decision-making processes? Firstly, it is essential to delve into our results and comprehend the viewpoints, aspirations, and concerns expressed by young Nigerians regarding their vision of the future. Understanding their insights will be a crucial initial step. Within the Youth Talks project, a pivotal aspect involves translating these insights into actionable proposals aimed at guiding governments and institutions in their decision-making

Youth Talks is a tool for change, destined to become the largest international youth forum...The platform's ability to enable authentic discussion is key to its success and represents a solid foundation on which to build the next stage

Looking ahead, what is the outlook for Youth Talks? How do you anticipate the initiative evolving and making a lasting impact on global youth engagement and societal change in Nigeria? Youth Talks is a tool for change, destined to become the largest international youth forum. The first edition of Youth Talks provides a rich snapshot of the aspirations, hopes and beliefs of young people around the world. The platform's ability to enable authentic discussion is key to its success and represents a solid foundation on which to build the next stage. By 2026, we hope that over a million young people will express their views through the platform, and some 50,000 Ambassadors will take the initiative into their communities. We want Nigeria to be part of this new phase of Youth Talks. It is so far the most active community of ambassadors we have on the project. We have by our side a large network of young people eager to change the world and be part of solving our collective issues. There will still be our digital platform but also we want to develop in-person engagement, overseen by various Youth Talks chapters, including Ambassador-led workshops and events organized around themes of local interest identified by the young people themselves. Maybe Nigeria could welcome one of these chapters.

WEDNESday, DECEMBER 20, 2023 T H I S D AY

business/MOnEYGUIDE

InfraCredit Guarantee N3bn to Support Affordable 370 Housing Project in Nasarawa Kayode Tokede InfraCredit has announced the guarantee of N3 billion initial debt financing under a N12.5 billion debt programme for Modern Shelter Systems and Services Limited for the development of 370 affordable housing units according to IFC’s green building standard (EDGE) in Nasarawa Technology Village under a co-financing structure with the Shelter Afrique Development Bank. The company in a statement said the project aims to develop up to 1,200 EDGE-certified housing units in Nasarawa State. The Chief Executive Officer of InfraCredit, Chinua Azubike in the statement said, “We are excited with the successful closing of this transaction and the significance of the project in the housing sector, because of our ability to replicate and scale its impact. Sustainable green housing delivery is the

pathway to a balanced built environment, and with the success of this transaction with Modern Shelter, we have a unique opportunity to work with our development partners in demonstrating innovative financing solutions to transition into new buildings, designed to meet energy efficiency standards, create green jobs and support climate resilient economic growth. The Nasarawa Technology Village project underscores a successful example of public–private partnerships as a mechanism of unlocking climate financing for sustainable development. “ The Managing Director of Modern Shelter, Abdulmalik Mahdi in a statement said: “Modern Shelter is proud to have emerged as a pioneer adopter of EDGE in 2021 (under a previous project Earth-Point Modern Shelter) and this recent transaction marks another significant milestone for Modern Shelter, providing us with ac-

cess to stable, well-structured, long-term funding essential for delivering EDGE-certified affordable housing.” The Head of PIDG TA, Emilio Cattaneo in a statement said: “PIDG is proud of its involvement in this project since early 2021, and to have supported InfraCredit and the Housing Solutions Fund through the provision of a grant facility to finance a number of the critical workstreams of this pioneering initiative.” Chief Investment Officer, Housing Solution Fund, Maurice Okoli in a statement said, “I firmly believe that increasing homeownership accessibility and affordability relies on embracing innovative and collaborative frameworks. Our commitment is unwavering as we strive to eliminate fragmentation within the housing sector while fostering strategic partnerships in a dynamic ecosystem that spans both the demand and supply sides.”

L-R: Vitafoam Nigeria Plc’s Supply Chain Director, Ola Ogunfeyitimi; Technical Director, Sola Owoade; Group Managing Director and Chief Executive Officer, Taiwo Adeniyi and Commercial Director, Dahiru Gambo, during the Vitafoam Polyurethane Seminar, held in Lagos...recently

MARKET INDICATORS

CIS Inaugurates FCT, Northern Zone District Society Chartered Institute of Stockbrokers (CIS), has inaugurated its Federal Capital Territory (FCT) and Northern District Zone Society as to strengthen its activities across the entire country. The Institute’s President, Mr Oluwole Adeosun explained that the inauguration in Abuja at the weekend, the first in the series was to meet the yearning demand for the Institute’s advocacy, investor literacy and media engagement among other from the investing public across diverse groups. “District societies play a pivotal role in fostering a sense of community, collaboration, and knowledge-sharing among members. Embracing

these societies ensures that we as professionals, are well-connected, informed, and equipped to navigate the dynamic landscape of our industry. The objectives are to co-ordinate and identify as a unit of the Institute within the defined geographical location, ensure high standards of professional and ethical conduct among members, coordinate and embark on advocacy visits, investor literacy and sensitization programmes and media engagements within its designated jurisdiction, organize general academic support to registered students of the Institute within its jurisdiction and assist in mobilizing new members in the areas of cover-

age, “Adeosun said. In his response, the Chairman, FTC and Northern Zone District Society, Mr Sehinde Adenagbe, appreciated the historic inauguration and assured the Institute that his members were poised to supporting the Institute’s membership drive and financial literacy through comprehensive awareness creation. “We want to assure the President that we shall always take cognisance of our fiducial responsibilities as Stockbrokers in all our dealings with people and organisations. Our ethical commitment will be held in high esteem at all times and our word will be our bond.

Abbey Mortgage Bank Plc Announces New Leadership Nume Ekeghe The Board of Directors of Abbey Mortgage Bank PLC announced significant changes in its leadership, marking the retirement of Mazi Emmanuel Kanu Ivi and Air Vice-Marshal Olufemi Soewu (rtd), and the appointment of Samuel Oni as the new Chairman. Mazi Emmanuel Kanu Ivi, an esteemed member of the Board, will officially retire on 31st December 2023. Mazi Ivi has been an integral part of Abbey for the past 30 years,

first as a Director and later as the Chairman. The Board expressed its deepest appreciation for his unparalleled and exemplary leadership, which played a pivotal role in the bank’s success. Samuel Oni was appointed as the new Chairman, effective 1st January 2024. High Chief Oni, a distinguished Fellow of the Institute of Chartered Accountants of Nigeria and the Association of Certified and Chartered Accountants London, brings extensive experience to the role. His career included roles such as Director of Other

Financial Institutions Department, Internal Audit, and Bank Examination at the Central Bank of Nigeria. He had also served as a Director of United Bank for Africa Plc and Chairman of UBA Capital, London. In addition to the retirement of Mazi Ivi, the Board also announced the retirement of Air Vice-Marshal Olufemi Soewu (rtd) with effect from 31st December 2023. The Board expressed its gratitude for Air Vice-Marshal Soewu’s 18 years of unbroken and meritorious service to Abbey Mortgage Bank.

MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

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

FCT Water Board Generates N3bn Revenue in 2023

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

Olawale Ajimotokan in Abuja

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

The FCT Water Board has said it generated over N3 billion revenue from distribution of portable water as at November 2023. The Acting Director FCT Water Board Mr Daniel Audu-Salka revealed this at a media parley. He said the average monthly Internally Generated Revenue of the water board stood at over N300 million which was a departure from over N200 million which it generated in 2022.

He said the earning was a substantial improvement on N2.4 billion which the Board generated in 2022. Audu-Salka listed the board’s main sources of revenue to include sales of water, which constituted about 95 per cent of its revenue in addition to lifting points, water connections, water analysis, tender fee and prepaid. He noted that the board was hoping to tip the scale in its revenue drive for 2024 beyond its present generation by earning N450 million per month.

The Acting GM, said the board was supplying thirteen million cubic metres per hour to feed households and commercial establishment in the Federal Capital Territory, adding that the board was feeding Abuja with three hundred and twelve thousand cubic meters of water daily. Audu-Salka explained that the board has achieved greatly in the reduction of non-revenue water, arising from leakages on the pipes, illegal connections, faulty metres among others.

• Source - CBN

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

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

T H I S D AY •WEDNESday, DECEMBER 20, 2023

mARKET NEWS

Stock Market Extends Positive Momentum, Up 0.09%

Kayode Tokede

The Nigerian stock market yesterday extended its positive momentum, gaining 0.09 per cent following investors’ interest in MTN Nigeria Communication Plc and United Bank for Africa Plc (UBA), and 34 other stocks. As MTN Nigeria Communication and UBA gained 0.6 per cent and 3.1 per cent respectively, the Nigerian Exchange Limited

All-Share Index gained 65.19 basis points or 0.09 per cent to close at 72,470.10 basis points from 72,404.91 basis points it opened. Also, market capitalisation rose by N36 billion to close at N39.657 trillion from N39.621trillion it closed the previous day. Consequently, the stock market in its Month-to-Date and Yearto-Date returns increased to +1.6per cent and +41.4per cent, respectively.

P R I C E S MaiN Board

F O R DEALS

Analysing by sectors, the NGX Banking Index gained 1.9per cent, NGX Insurance index added 0.4 per cent, and NGX Industrial Goods Index increased by 0.2 per cent, while the NGX Oil & Gas index closed flat. Conversely, the NGX Consumer Goods index dropped by 0.2per cent, the sole loser for the day. As measured by market breadth, market sentiment was positive, as 36 stocks gained

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

quantity traded

relative to 13 losers. Infinity Trust Mortgage Bank and Caverton Offshore Support Group emerged the highest price gainer of 10 per cent each to close at N3.41 and N1.76 respectively, while NNFM followed with a gain of 9.42 per cent to close at N42.40, per share. R.T. Briscoe Nigeria increased by 9.09 per cent to close at 60 kobo, while The Initiates (TIP) added 8.26 per cent to close at N1.18, per share. On the other

T R A D E D

value traded ( N )

MaiN Board

A S O F

side, Omatek Ventures led others on the losers’ chart with 10 per cent to close at 63 kobo, per share. Prestige Assurance followed with a decline of 9.62 per cent to close at 47 kobo, while eTranzact International shed 9.60 per cent to close at N5.65, per share. Stanbic IBTC Holdings lost 9.08 per cent to close at N59.10, while UPDC depreciated by 9.02 per cent to close at N1.21, per share. The total volume traded

increased by 26.8 per cent to 411.21 million units, valued at N6.95 billion, and exchanged in 6,870 deals. Transactions in the shares of UPDC Real Estate Investment Trust led the activity with 42.029 million shares worth N187.031 million. UBA followed with account of 34.659 million shares valued at N848.471 million, while Veritas Kapital Assurance traded 27.707 million shares valued at N9.865 million.

D E C E M B E R / 1 9 / 2 3 DEALS

Market Price

quantity traded

value traded ( N)

WEDNESDAY, DECEMBER 20, 2023 • T H I S D AY

Wednesday, December 20, 2023

Thisday Afrinvest Index up 34bps

Thisday Afrinvest 40 index gained 24bps to close at

THISDAY AFRINVEST 40 INDEX

3493.92 index points following price depreciation in

MTNN (+0.6%), GTCO (+0.3%), and ZENITH (+1.8%).

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Cumulatively, these stocks account for 21.0% of the index.

Ticker

Current Price

Previous Price Change

THISDAY AFRINVEST 40

3493.92

0.34%

Current Price Change Weighting YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

47.9%

249.4%

14.8%

3.4%

5.2x

1.2x

5.2%

11.6%

BUA Foods PLC

198.90

0.0%

21.9%

206.0%

46.5%

54.0%

18.0%

28.7x

14.0x

2.5%

3.5%

MTN Nigeria Communications PLC

246.50

0.6%

7.5%

14.7%

-9.8%

85.8%

8.6%

21.2x

16.7x

6.3%

4.7%

Bulls Extend Gain... ASI up 9bps

Airtel Africa PLC

1,800.00

0.0%

10.9%

10.1%

36.4%

10.0%

3.1%

Yesterday, the NGXͲASI gained 9bps to close at 72,470.10 points, buoyed by buying interest in

2.4%

Guaranty Trust Holding Co PLC

39.70

0.3%

7.1%

72.6%

13.4%

38.3%

5.6%

2.8x

0.9x

8.3%

36.2%

Zenith Bank PLC

37.75

1.8%

6.4%

57.3%

10.2%

27.6%

3.0%

2.7x

0.6x

9.2%

37.5% 33.8%

FBN Holdings Plc

23.00

-0.4%

4.8%

111.0%

34.9%

24.9%

2.3%

3.0x

0.6x

2.2%

Dangote Cement PLC

320.00

0.0%

3.9%

22.6%

12.3%

40.4%

15.3%

12.4x

4.1x

6.5%

8.0%

Lafarge Africa PLC

31.00

3.7%

3.1%

29.2%

5.1%

11.6%

7.9%

10.4x

1.2x

6.4%

9.6% 57.8%

United Bank for Africa PLC

25.00

3.1%

4.9%

228.9%

104.1%

39.5%

3.9%

1.7x

0.5x

5.8%

MTNN (+0.6%), UBA (+3.1%) and ACCESSCORP

SEPLAT Energy PLC

2,310.00

0.0%

3.4%

118.7%

65.0%

1.5%

0.8%

58.2x

0.9x

3.1%

1.7%

Nestle Nigeria PLC

1,150.00

0.0%

1.9%

4.5%

-8.0%

5.5%

-2.9%

(+2.7%). As a result, the YTD performance im-

Access Holdings PLC

22.60

2.7%

4.7%

165.9%

143.0%

20.5%

1.5%

3.0x

0.5x

7.3%

33.6%

Stanbic IBTC Holdings PLC

59.10

-9.1%

1.9%

76.7%

9.4%

31.5%

3.4%

5.8x

1.7x

5.6%

17.1%

proved to 41.4% (previously 41.3%) while market

Ecobank Transnational Inc

22.70

0.0%

2.5%

114.2%

49.3%

26.9%

1.2%

2.1x

0.6x

2.3%

48.1%

Okomu Oil Palm PLC

240.00

0.0%

1.4%

45.5%

2.1%

47.0%

24.2%

12.0x

5.3x

1.9%

8.3%

Nigerian Brew eries PLC

36.00

-5.0%

1.0%

-12.2%

-20.0%

-39.6%

-9.3%

2.7x

3.8%

-19.6% 33.1%

capitalisation gained ₦35.7bn to ₦39.7tn. Similarly,

-6.1%

Fidelity Bank PLC

9.60

-1.0%

1.7%

120.7%

37.1%

26.2%

2.1%

3.0x

0.7x

5.3%

activity level intensified with volume and value

Flour Mills of Nigeria PLC

31.55

0.0%

0.8%

11.1%

-7.5%

6.0%

1.0%

11.1x

0.6x

7.1%

9.0%

Transnational Corp of Nigeria

7.00

0.6%

1.7%

519.5%

99.4%

11.9%

3.0%

19.3x

2.3x

0.7%

5.2%

traded higher by 26.8% and 58.0% to 411.1m units

International Brew eries PLC

4.40

2.3%

0.7%

-6.4%

-15.4%

-37.7%

-9.3%

AXA Mansard Insurance PLC

4.41

-0.2%

0.8%

120.5%

11.6%

40.8%

11.2%

3.0x

1.1x

2.7%

FCMB Group Plc

7.20

2.1%

0.8%

87.0%

41.2%

18.0%

1.7%

2.5x

0.4x

3.5%

PZ Cussons Nigeria PLC

26.00

0.8%

0.6%

129.1%

18.2%

-106.3%

-14.9%

and ₦6.9bn respectively

1.0x

-40.0%

12.4x

33.8% 40.1% -25.8%

Guinness Nigeria PLC

67.90

0.0%

0.5%

-2.0%

-15.1%

-24.1%

-7.9%

Dangote Sugar Refinery PLC

57.40

0.0%

1.2%

257.6%

129.6%

2.2%

0.5%

245.3x

5.5x

2.6%

0.4%

Presco PLC

190.50

0.3%

0.5%

38.5%

7.0%

45.9%

13.7%

9.2x

3.7x

4.6%

10.8%

Across sectors within our purview, performance

United Capital PLC

19.40

2.1%

0.5%

38.6%

23.2%

22.9%

1.6%

11.2x

1.9x

7.8%

8.9%

BUA Cement Plc

97.00

0.0%

0.4%

-0.8%

5.1%

25.0%

12.6%

32.6x

8.0x

2.9%

3.1%

was uneven as four gained, one lost while the Oil &

NASCON Allied Industries PLC

54.00

0.0%

0.9%

386.5%

188.8%

60.2%

19.8%

5.2x

1.9%

19.3%

TotalEnergies Marketing Nigeri

385.00

0.0%

0.3%

99.5%

10.0%

28.3%

3.9%

9.1x

2.4x

6.9%

11.0%

Gas index closed flat. Leading the advancers, the

Wema Bank PLC

5.49

4.6%

0.2%

40.8%

3.8%

23.1%

1.3%

3.1x

0.6x

5.7%

31.8%

Jaiz Bank PLC

1.50

0.0%

0.2%

63.0%

-10.2%

38.4%

2.2%

5.6x

1.8x

33.3%

18.0%

Banking and Insurance indices firmed up by 1.9%

Geregu Pow er PLC

399.00

0.0%

0.3%

167.8%

33.0%

24.6x

2.1%

Union Bank of Nigeria PLC

0.0%

#VALUE!

-100.0%

15.8%

1.6%

and 0.4% respectively following price gains in UBA

Julius Berger Nigeria PLC

34.40

0.0%

0.2%

40.4%

11.0%

12.7%

1.6%

5.5x

0.6x

7.3%

Unilever Nigeria PLC

14.85

0.0%

0.1%

28.0%

-8.9%

10.0%

5.0%

13.2x

1.3x

1.7%

Oando PLC

10.75

2.4%

0.2%

174.2%

87.0%

3.2%

3.5x

Conoil PLC

83.90

0.0%

0.1%

216.6%

1.1%

41.0%

16.3%

4.9x

1.7x

3.0%

0.2%

720.8%

119.2%

6.9%

3.7%

115.1x

7.8x

0.3%

0.0%

-140.7%

-24.8%

Mixed Sector Performance

(+3.1%), ACCESSCORP (+2.7%) and AIICO (+4.2%). Also, the AFRͲICT and Industrial Goods indices rose

Transcorp Hotels Plc

51.30

0.0%

Notore Chemical Industries Ltd

62.50

0.0%

0.2% apiece owing to buy triggers on MTNN (+0.6%) and WAPCO (+3.7%). On the flipside, sell

pressure on NB (Ͳ5.0%) dragged the Consumer Goods index lower by 0.2%. Outlook

Investor sentiment, as measured by market breadth, improved to 0.32x (previously Ͳ0.21x) as

2.5x

-12.3%

#N/A N/A

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

3.41

10.0%

UP D C R EIT

42.0

0.0%

C A VER T ON

1.76

10.0%

UB A

34.7

3.1%

NNFM

42.40

9.4%

VER IT A SKA P

27.7

2.8%

R T B R ISC OE

0.60

9.1%

A C C ESSC OR P

27.6

2.7%

T IP

1.18

8.3%

FCM B

25.6

2.1%

D A A R C OM M

0.53

8.2%

T R A N SC OR P

24.9

0.6%

J OH N H OLT

2.64

7.8%

GT C O

22.8

0.3%

C ON H A LLP LC

1.20

7.1%

Z EN IT H B A N K

22.0

1.8%

M ULT IVER SE

10.50

6.2%

WEM A B A N K

14.5

4.6%

H ON YF LOUR

3.25

5.9%

OM A T EK

14.5

-10.0%

36 stocks advanced, 13 declined, while 72 closed

T ic k er

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

T o p 10 L o s e r s

flat. Today, we expect mild uptick in broad perfor-

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

OM A T EK

0.63

-10.0%

GT C O

902.2

0.3%

mance on the back of sustained cherryͲpicking ac-

P R EST IGE

0.47

-9.6%

UB A

848.5

3.1%

-9.6%

Z EN IT H B A N K

815.9

1.8%

A C C ESSC OR P

611.8

2.7%

tivity.

ET R A N Z A C T

5.65

ST A N B IC

59.10

-9.1%

UP D C

1.21

-9.0%

M TNN

582.6

0.6%

UN IVIN SUR E

0.25

-7.4%

WA P C O

405.5

3.7%

GUIN EA IN S

0.27

-6.9%

FB NH

223.1

-0.4%

WA P IC

0.65

-5.8%

N EST LE

212.0

0.0%

36.00

-5.0%

ST A N B IC

198.6

-9.1%

F ID ELIT YB K

9.60

-1.0%

UP D C R EIT

187.0

0.0%

Afrinvest West Africa Limited

20.6% 0.9% -71.9%

IN F IN IT Y

T ic k er

7.6% 28.3%

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

T o p 10 G a i n e r s

18.1%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

T H I S D AY • WEDNESDAY, DECEMBER 20, 2023

NEWS

ACCESS HOSTS NIGERIA SUSTAINABILITY SUMMIT 2023...

L-R: Chief Risk and Compliance Officer, Nigerian Export-Import Bank (NEXIM), Umara Gubio; Director, Financial Policy and Regulation, Central Bank of Nigeria, Haruna Mustafa; Head, Group Sustainability, Access Holdings Plc, Omobolanle Victor-Laniyan; CEO, European Organisation for Sustainable Development and Chairman, International Sustainability Council, Arshad Rab; CEO, Financial Nigeria/Country Representative, European Organisation for Sustainable PHOTO: SUNDAY ADIGUN Development, Jide Akintunde; and Chairman, Fiscal Responsibility Commission, Victor Muruako at the Nigeria Sustainability Summit 2023 hosted by Access Holdings PLC in Lagos…. yesterday

Osinbajo, SGF, Govs, Ooni, Olu of Warri, Others in Ogbomoso for Soun Makinde presents staff of office to new king

Kemi Olaitan in Ibadan Prominent Nigerians, among them, former Vice-President Yemi Osinbajo, were preset yesterday when Governor Seyi Makinde of Oyo State, presented the staff and instrument of office to the new Soun of Ogbomoso, Oba Afolabi Ghandi Olaoye. This is just as he appealed to all those who contested the stool to sheath their sword and withdraw court cases in the interest of peace of the ancient town. Other dignitaries, who witnessed the event were the Secretary to the Government of the Federation (SGF), Senator George Akume, who was represented by Sir Olusegun Adekunle; Chairman, Nigerian Governors’ Forum (NGF), Governor Abdulrahman Abdulrazaq (Kwara), who was represented by his deputy, Kayode Alabi, and Governor Ademola Adeleke (Osun). Traditional rulers present included the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi; Olu of Warri, Ogiamme Atunwase III; the Olubadan of Ibadanland, Oba Lekan Balogun; and the Oluwo of Iwoland, Oba Abdulrasheed Adewale, among many others. Makinde while speaking at the Ogbomoso township stadium venue of the event, congratulated the new monarch, and urged him to work for the unity of the town, the traditional council and the state as a whole. “I rejoice with the sons and daughters of Ogbomosoland. I have discussed with Kabiyesi privately the steps that must be taken to ensure the unity of Ogbomosoland. It is not

just for the unity and progress of Ogbomosoland. “You have to work for the unity of the traditional Council in Oyo state. There is no central unity in the traditional Council and I want you to work on it as you have a role to play in it. “The other thing I want to say is with those who contested the throne with the Kabiyesi. As at last week, some people are still in court with injunctions. The contestation for the throne is behind us and I am looking forward to those in court withdrawing their court cases by the end of this week as a show of

love for Ogbomosoland. "So, the people fighting must stop. If they don’t, I as the Executive Governor of Oyo State, we are in the fight together and I will ensure we fight them with everything within the powers of the government. “I am a believer in the Constitutional roles for our traditional rulers and I will appeal to our new Kabiyesi to work for the progress of the state.” In his goodwill remarks, Osinbajo who lauded the new monarch, described him as a man who loved people and spoke the truth always. According to him, the two

qualities were essentially needed by any leader, expressing optimism that the people of Ogbomosoland would soon begin to feel the positive impact of the new monarch while praying for the successful reign of the new monarch. “I congratulate Governor Seyi Makinde for approving the choice of the people in Ghandi Olaoye. The person who is the new Soun is my close and intimate friend. “What I know about him that makes me happy that he is our new king is that he is a man, who loves people and humanity and I am sure he will show the love.

Ogbomosholand fulfils the great potential that the Almighty God has imbued them with. “No community can embark on significant development without the government’s input. We are thankful for the role that the government at all three levels – federal, state and local government – has played in developing Ogbomosho land in the past and continue to play. “Let my coronation be a celebration and a collective reaffirmation of our shared destiny. I intend to be a king to serve you all irrespective of religion, gender or other things that may differentiate us.

NPC Excludes Census Funding in 2024 Budget Proposal

National Assembly pledges to appropriate funds for exercise Justify N1bn in Trade Ministry's 2024 Budget Lawmaker says sum meant to attract foreign investors Sunday Aborisade in Abuja

The Chairman, Senate Committee on National Population Commission, Senator Abdul Ningi, told members of the National Assembly Joint Committee on Appropriation yesterday, that there was no provision for the population and housing census scheduled for next year, in the NPC's budget proposal which was submitted to the federal parliament for consideration. Ningi, stated this when he appeared before the joint National As-

sembly Committee on Appropriation to submit his panel's report. He informed the committee that if the money for the census was not provided for in the budget the country would lose about N200 billion which had been spent during former President Muhammadu Buhari's administration by the National Population Commission, to prepare for the exercise. He said the NPC would appear tomorrow with their documentations to state how much they would need for the conduct of 2024 population

census. Ningi said, "They will appear tomorrow with proper documentation of how much they need. If we don't get the money, the nation will lose, the people will lose. "The money spent for the preparation for the census will go down the drain and it is humongous amount of money, over N200 billion already spent that is my take. " Reacting to the development, the Chairman of the Joint National Assembly Committee on Appropriation, Senator Solomon Adeola, assured

Sanwo-olu Eulogises Muri-Okunola at Pulling-out Ceremony The Lagos State Government yesterday formally pulled the 21st Head of Service (HOS), Mr. Hakeem Muri-Okunola, out of the civil service, with a ceremonial parade. It came about four months after the former Lagos Number One civil servant exited the state’s public service voluntarily after his meritorious service to the state. Muri-Okunola had assumed a new role in the federal government, serving as principal private secretary to President Bola Tinubu. Governor Babajide Sanwo-Olu led members of the cabinet to grace the pull-out ceremony held at Adeyemi Bero Auditorium in the Secretariat, where the body of permanent

“He is a truthful person. He doesn’t lie. All I see about him is that a king must love his people and be truthful. God will help you and support you.” In their separate goodwill messages, the SGF, Governor Abdulrazaq and Governor Adeleke, commended Makinde, the new monarch and the people of Ogbomosoland on their choice and prayed for success for the new monarch. Oba Olaoye, in his acceptance speech after receiving his staff and instrument of office, called on all the stakeholders in the town to work together to ensure that

secretaries, led by the substantive HOS, Mr. Olabode Agoro, honoured their retired captain. The event was also attended by chairman of Nigeria Governors Forum (NGF) and Kwara State Governor, AbdulRahman AbdulRazaq. Muri-Okunola, in company with his wife, Abisola, and mother, Fehintola, inspected the guards of honour mounted by security and safety formations of the Lagos State government, including Fire Safety Corps, Lagos State Traffic Management Authority (LASTMA) Corps, Environmental Sanitation Corps, Neighbourhood Watch Corps and Vehicle Inspection Service (VIS) Corps.

Describing Muri-Okunola as “brother, worthy partner, and confidant”, the governor said the former HOS helped his administration to stabilise at inception by offering valuable institutional knowledge to give the fledgling government a sense of direction. He said: “Indeed, Lagos state will be missing a real outstanding public officer and administrator par excellence, but we are happy that your exit from the state’s civil service is calling for service at higher level to support our father and leader, President Tinubu. “You deployed intellectual ability at your disposal to give Lagos a vibrant public service. You are taking forward your knowledge

and skill in the service of Nigeria and the President. You did well in Lagos; we have no doubt you will succeed in your new task.” Sanwo-Olu recalled MuriOkunola’s days in the Lagos cabinet, noting that the former HOS contributions to debates and policy implementation positively impacted on the civil service and the state. The governor disclosed that Muri-Okunola brought the highest number of senior civil servants to be appointed permanent secretaries during his tenure as HOS. Sanwo-Olu also reflected on the sense of fashion, neatness and cultural dexterity infused into the consciousness of public servants.

the panel on NPC that the federal parliament would look for fund to cater for the 2024 population census in the budget. He said, "The head of the NPC should appear in company with the Committee Chairman to tell them what was needed for the conduct of census which was scheduled to hold in the first quarter of next year. "Let me assure you that the country will not loose and we are going to work very closely with them that 25 percent component is included, we must find a way to accommodate it in this 2024 budget. "We will like the agency to appear along with the Chairman of the Committee, a synopsis of the idea of what is really going on about the issue of census and whatever the issues are, I can assure that we will resolve it and the population census will come up by the first quarter of 2024." Meanwhile, the Joint Committee on Appropriation has supported the inclusion of the controversial N1bn in the 2024 budget of the Federal Ministry of Industry, Trade and Investment. The panel gave the support after receiving the report of the Joint National Assembly Committee on Industry, Trade and Investment on the Ministry's 2025 budget. Chairman of the Appropriation Committee of the federal parliament, Senator Solomon Adeola, however said the federal lawmakers would

carry out aggressive oversight to ensure that the fund was appropriately utilised. A member of the National Assembly standing committee overseeing the affairs of the ministry, Senator Adams Oshiomhole, had during the budget defence session, said the ministry planned to spend the money on foreign trips next year. In response, the Minister, Doris Uzoka-Anite, had issued a statement to explain that the N1 billion was for the maintenance of the ministry's desk office at the World Trade Centre in Geneva, Switzerland. However, the Chairman of the joint panel on Industry, Trade and Investment, Senator Sadiq Umar, told the Appropriation panel yesterday, that the money was actually meant to attract foreign investors across the world to Nigeria. Umar said, "The N1 billion is not for foreign trips. It was meant to attract investors to Nigeria from all over the World. "We are beginning to think that we need to review our trade interest structuring in the country. The government today, thinks that we need to strengthen the trade office here. "However, Mr. Chairman, we think that as a committee, we are going to be working with the Minister going forward to see how they make use of the foreign services the best way possible because that is primarily the job of foreign services.

WEDNESDAY, DECEMBER 20, 2023 • T H I S D AY

NEWS

LeadPreneur Network Dinner...

L-R: Managing Director, Microvis MFB, Mr.Kayode Akinade; Special Guest and Minister of Solid Minerals Development, Mr. Dele Alake; Chief Executive Officer, iCentra and President, LeadPreneur,Mr. Taopheek Babayeju; and Guest Speaker and Chairman Nigeria Economic Summit Group (NESG), Mr. Niyi Yusuf ,at the LeadPreneur Network Dinner in Abuja ... recently

Oshiomhole: My APC Leadership Supported ‘Otoge’ in Kwara, Abiodun's Campaign with N1.6bn Says refusal to be yes man to governors led to his removal

Adedayo Akinwale in Abuja A former National Chairman of the All Progressives Congress (APC), Senator Adams Oshiomhole, has revealed that the National Working Committee (NWC) under his leadership supported the electioneering campaign of the "otoge" revolution in Kwara state and the Dapo Abiodun governorship campaign with N1.6 billion. He however, added that his refusal to be a "yes-man" to the governors elected on the platform of the party led to his removal as the chairman of the party. He said a former National Vice Chairman, North-west of the part, Dr. Salihu Lukman, who condemned

and castigated his leadership never saw anything wrong in his illegal removal as the party chairman. Oshiomhole disclosed this on yesterday in Abuja during the public presentation of a book, titled: "APC and Transition Politics", authored by Lukman. His words: "Lukman believes that by writing he's going to change a system that is deeply entrenched. I think for me, that is a costly mistake. It is not going to happen. “Nobody is doing anything out of ignorance. There could be a few people who are. It is about class interests. It is about battle. It is about cautiously working for you to get what you want. "There are two kinds of criticism.

You can criticise in order to find solution, you can also criticise in order to create an embarrassment not because you seek solution. “Sometimes, I wonder if Lukman's criticism was meant to cause a change, or it is meant to just create tension and then he is seen as a reverend father, who commits no sin." Oshiomhole was of the view that Lukman could offer advice in-house without going on the pages of newspapers, saying it was the family tradition that those issues were better discussed quietly within the family and effect correction if anything was not right. He added: "There is no family that can succeed if each time you

have a different opinion, you take a page in one of the newspapers and expose all the things that are going on in the family. There is no clean family.” The former Edo State governor noted that Lukman wrote several letters virtually dismissing his leadership without calling him. He said Lukman was there when he wrote a letter inviting the governors for a meeting to discuss the guidelines for conducting primaries so that the party would know the thinking of various interest groups, having discussed with the president. "So, I wrote to the governor's for a meeting. The governor said no, I should go to Imo house, not APC

...Fayemi: Lukman Was Sacked as PGF DG Because of His Criticisms Adedayo Akinwale in Abuja

A former Governor of Ekiti State, Dr. Kayode Fayemi, has said the former Director General of Progressive Governors Forum (PGF), Dr. Salihu Lukman, was sacked by the governors elected on the platform of the party due to his criticisms. He added that the former National Vice Chairman, Northwest of the party was eased out of office when the governors could no longer stomach his excesses. Fayemi made this known yesterday in Abuja at launch of a blood titled: "APC and Transition Politics" authored by Lukman. According to him, "More often than not, some of us who are close to him are at the receiving end when Lukman writes. "I remember in his days as the Director General of the Progressives Governors Forum, every time he writes and former Governor Ganduje will remember this in our various meetings at the forum, somebody gets accused by his own colleague as the architect who brought Lukman into the Progressives Governors’ Forum and I am the one." Giving his keynote address, a leader of Afenifere Renewal Group, Mr. Olawale Oshun, said

the country's democracy should evolve such that it was the political party as an institution that should be in a position to determine succession commencing from the lowest strata of governance to the highest strata. "I don’t know who will succeed me, but I know who will not" should never again hold sway in the country. "Why can’t Nigerian rulers or elected leaders play their part,

and leave office believing that the political party that threw them up will also throw up another good material? Why must anyone no matter how powerful be the one to determine his successor?" Olawale queried. On his part, Lukman said one of the driving forces for him was to stimulate discussion within the party and hopefully get the party leaders to own it and mainstream it into the structures of the party.

"That His Excellency, Abdullahi Umar Ganduje is now the National Chairman, after all, and including all that Comrade Adams Oshiomhole has reflected on, even after all I have canvassed publicly, it is a clear demonstration of the fact that this party (APC) had a clear future. "What is required is to try and give critical support to all our leaders so that they can revive all the structures of the party," he said.

office. He was at the governors' office, he didn't see anything wrong with that. "The governors have already taken decision because Chairman sir (Ganduje), if you have not faced it already, you will face it. The only difference is if the president decides to intervene, and moderate you will be lucky. "In my own case, we had a president who was not ready to intervene. The governors summoned me as the chairman of the party to their own preferred venue, not the one that I wrote them, we have an office which the party hired "And one by one, to the hearing of Lukman, they told me they are the generals in the field. The know the terrain. I cannot tell them this. Some were banging the table, you can't do this, Some were threatening they could have left the party. “I just want you to understand this game of power, particularly internal democracy in our political parties. I didn't beg to be chairman, but I was honoured to be elected as one. "When they finished, I said in anger but also I meant every word I said. I said none of you here can lecture me about the powers of a governor because I have been governor twice. "The man in Ogun State then said if not because of the president, he will leave the party, I cannot dictate to him. What is the dictation? And then he said you are working for your paymaster in Lagos, paymaster in Bourdillon.

“They have the suspicion that is not informed by anything. So, I am not capable of thinking? Is there any living Nigerian, who thinks I am a coward? You can accuse me of everything, not being a coward. "And I told him, if really I am being paid by Bourdillon, they are my paymaster, You, (not the current governor), I was your paymaster and you are not loyal to President Buhari because if you were, when Buhari lost election, you ported to APC in search of political greener pastures. “You begged Asiwaju to beg Segun Osoba to accept you when you lost in ANPP and today you are coming to say you are loyal. What manner of loyalty, that is what they called opportunism. "I'm sorry my language is not what you expect, but that is just who I am. The truth must be told if Nigeria must change. That was how I left that meeting. "They harassed me, Lukman was with the governors' forum, they held a meeting, they decided that they will tell me who they want to be governor. I will work to the answer, I will do all formalities but whoever they want must emerge. “And I said you are talking to the wrong person. I won't mortgage neither my office nor the authority of the NWC. I believe Lanre Onilu... they were there. I said you can take the job and I will keep my conscience, but I will not mortgage my conscience to keep the job. If it pleases you to take it, take it, and they took it.”

Presidential Fleet Development: Wike Sanctions Relocation of 200 Houses at Nuwalege Community Olawale Ajimotokan in Abuja

Minister of the Federal Capital Territory Nyesom Wike has ratified the process of relocation of Nuwalege Community to enable the seamless expansion of presidential fleet plot along the Nnamdi Azikiwe Airport, in Abuja. Over 200 houses in the community will be affected by the proposed activity. To that effect, Wike has directed the Director, Department of

Development Control (DDC), to engage the leaders of the said community where houses will be affected. Speaking during a community and citizen engagement yesterday, DDC Director, Mukhtar Galadima said the measure was pursuant to the request from the Nigerian Air Force, about a month ago. He said a month ago, the Nigerian Air Force wrote to the minister on their needs and desire to relocate the village, as it was part of the presidential fleet plots.

"So, the minister in his wisdom requested them to allow the FCT Administration to handle it, because it's the responsibility of FCT administration. The Nigerian Air Force approached the Department of Development Control on their desire. "We have to do a community and citizens' engagement, which is why we are here today to discuss with the community and to tell them of our intention, because it will be unfair to just bring the machine here and start removing

their houses. "So, we visited the chief at his palace to meet him and we told him our reason for coming to this place," Galadima said. On the issue of compensation for the would-be affected natives, Galadima said they would discuss with the Air Force, saying obviously discussion behind the scene indicated that some forms of compensation were paid. Further according to him, "We are going to conduct further investigation by engaging the

FCT Department of Resettlement and Compensation as well as the Nigerian Air Force, and find out if compensation has been paid, to who and when? "And then, we will discuss with our colleagues at the Department of Resettlement and Compensation whether at any point in time, there was any compensation that ascertained their claims as regards to the number of structures and people that are going to be affected by this expansion project."

T H I S D AY • WEDNESDAY, DECEMBER 20, 2023

NEWS

PAMO GRADUATION CEREMONY...

L-R: Vice Chancellor, PAMO University of Medical Sciences, Prof. Michael Diejomaoh; Pro-Chancellor and former Rivers State Governor, Peter Odili; Chancellor and former Head of State, General Abdulsalami Abubakar (rtd); and Rivers State Governor, Sir Siminalayi Fubara, at the third convocation ceremony and the induction of the first set of medical students as doctors of the university in Port Harcourt…yesterday

Soyinka Faults Detention of ex-Minister, Agunloye, By EFCC

Goddy Egene

Nobel Laureate, Professor Wole Soyinka, has faulted the Economic and Financial Crimes Commission (EFCC) over the detention of a former Minister of Power, Dr. Olu Agunloye, saying it is unjust and total contempt of sense and justice. In a release titled, “In pursuit of justice, productivity, under the rule of law”, Soyinka decried the arrest of Agunloye over the Mambilla Power

Project by the anti-graft commission, stressing that apart from being questionable, this is not the first time he would have to challenge the high-handed and illegal conduct of the EFCC. Soyinka, has therefore, requested the EFCC to release all its prisoners or, in the alternative, equally arrest and detain all those involved in “this mammoth scam” of the Mambilla power project. Soyinka wrote: “Concerning

governance, there is never any moment too early, nor demand too drastic in calling for the overhaul of security agencies where their activities intrude on the fundamental rights of the citizen. “The practice of citizen detention at the whim of either religious blackmail or secular arrogation demands curtailment at source, most especially when exercised in defiance of the law, and the pronouncements of its agencies. Anything less goes to remind us

Imo Govt Embarks on Forensic Audit of all Land Documents, Suspends Approvals Tony Icheku in Owerri Ripples from the unceremonious sacking of Imo State Commissioner for Lands, Survey and Physical Planning, Noble Atulegwu, and the Special Adviser/General Manager of Imo Housing Corporation, Mbakwe Obi, are still spreading. This is as the state governor, Hope Uzodimma,, Tuesday, approved the immediate forensic audit of all land documents which would be jumpstarted by suspension of approvals and issuance of building plans and Certificate of Occupancy by relevant government agencies. In a related development, Gov. Uzodimma has inaugurated the small-claims court, a specialized court created by statute with specific duties and powers to provide a judicial resolution of disputes involving small amounts of money. The Secretary to the State Government, SSG, Mr. Cosmas Iwu, in a release stated that the governor approved the forensic audit of all land documents, including but not limited to, Building Plans and Certificate of Occupancy, effective January 2007 to December, 2023 The SSG added that anybody claiming to be in possession of such land documents purported to have been issued by the government or its agencies should submit three copies of the title deeds or any evidence to the office of the Secretary to the Government of Imo State within 21 days "Although the Imo Housing Corporation is not authorised to either sell Government’s land or property or allocate any land to anyone, those who claimed to have documents of land or property, purported to have been sold or allocated to them by the Corporation, should also submit three copies of such to the Office of the SSG within 21 days. "Finally, anyone who has built on any land designated by government as green verge or land for recreational purposes, claiming that such land was allocated to him or her by any

government agency should submit the evidence in three copies to the Office of the SSG of Imo State within 21 days", the release stated, adding that those who fail to comply with the notice of forensic audit will have such property demolished It will be recalled that Gov. Uzodimma relieved the Commissioner for Lands, Survey and Physical Planning, Noble Atulegwu, and the Special Adviser/General Manager of Imo Housing Corporation, Mbakwe Obi of their appointments unceremoniously almost a month ago with no reasons proffered for their sack. However Government House sources alleged that the duo were severally indicted in petitions by individuals and communities to the governor alleging irregularities and lack of due process in land allocation and land grabbing by the officials of the Ministry Imo State Chief Judge, Honourable Justice T.E. Chukwuemeka Chikeka, during the inauguration of the small claims court, explained that the procedure and rules of the court are simplified and the procedure is designed to be less expensive and faster than a traditional court or conventional method of justice delivery system which is cumbersome, time consuming and sometimes frustrating with backlogs of cases sandwiched with many other issues, which causes undue delay in cases that can be easily decided. The Small Claims Court will be regulated by the Imo State Magistrates Courts Law Practice Directions- 2023, which has designated some Magistrates as Small Claims Court and which came into effect on Ist December 2023. According to Justice Chikeka, the, "Law indeed is dynamic as it grows daily and we must continue to update our knowledge to meet the changes that take place. She disclosed that the Small Claims Court is not working alone, noting that Imo State has joined forces with the Enabling Business Environment Secretariat (EBES) of the Presidential Enabling Business

Environment Council (PEBEC) to create enabling environment for the success of this vision.

that anarchy remains a choice for citizen recourse, with unpredictable consequences. “The immediate provocation for these reflections is ongoing predicament of a former Minister of Power, Dr. Olu Agunloye, currently detained by the EFCC, in total contempt of sense and justice, or indeed, basic humane considerations. “We shall not go into the merit or demerits of the charges raised against him over a 16-year old project that bears the name Manbilla. – that is the business of the law courts. Our concern at this moment is however only partially on the basis of individual Fundamental Human Rights. “Most fortuitously, the detention of any former public servant under circumstances such as Agunloye also provoke the question: how is public interest – such as the pursuit

of justice – served by such arbitrary exercise of power? “Before the now familiar carping, let me state that this is not the first time I have personally intervened in the high-handed and illegal conduct of the EFCC. All the way back to its inception, and public enthusiasm over its mission, I have had cause to use every means to promote and facilitate the success of that mission, while at the same time insisting on the organization’s operation under the law and citizen entitlement. “My personal relations with the EFCC include placing the civic organisation in which I am involved in active relaitonship with that corruption fighting agency, even to the existence of an Memorandum of Understanding (MoU) of collaboration. From the time when, intoxicated by righteous zeal, the EFCC in its early years attacked the home

PDP: There’s No Remedy for Embattled 25 Rivers Lawmakers Rivers State. He disclosed that he had gone through the most stressful moments of his life in the past weeks. Fubara urged the 89 medical graduates of the institution to be good ambassadors of the university always, no matter the situation they might face in the society. He thanked the people of the state for their prayers and support during the period of the crisis, assuring them that if he remains in the office, he would not fail Rivers people. Fubara thanked Odili for being a political father to him and other politicians in the state, expressing surprise that after the meeting in Abuja, Odili was still strong to organise the event. The governor said, "First, let me thank the Board of Trustees and Governing Council for this kind of invitation, it means a lot to me, especially, at this particular period of my life, where as a state government I am the governor." Odili, who noted the challenges that Fubara had faced recently, said governance was not an easy business, and that the school would continue to pray for his success in government. The former governor said, "To our special visitor, who has been battling with governance, governance is not an easy business, and those of you who have had a little taste of it will confirm that it is not come and eat. "But the governor has hit the ground running. Because our people said a good dance begins with the first step. Mr. Governor, your first steps are correct. And there is no doubt that you will dance well. PAMO University will stand with you in prayers to dance well, my governor." Odili thanked Fubara for the support the state government had given to the institution since its inception. He stated that with

the government’s annual scholarship for the less-privileged, indigent students had acquired quality medical education in the university.

Falana: Tinubu, Others Should Turn to Constitution

Falana advised Tinubu and other critical stakeholders to turn to the constitution for proper settlement in the Rivers crisis. Falana said last Monday’s intervention by the president was purely advisory and in line with the constitution of the country. He stated, “Whilst the President of the Republic may intervene in the crises rocking the states, his intervention must always be grounded in the provisions of the constitution. “I agree with former Governor Tunde Fashola, SAN, who has said President Tinubu has no constitutional role to resolve the political crisis in Ondo and Rivers states. Therefore, the intervention of the president in both cases is purely advisory. “With respect, the presidential reinstatement of the 25 cross carpeting members of the Rivers State House of Assembly by the presidency is alien to the constitution in every material particular. “The seats of the cross-carpeting members have been declared vacant by the Speaker known to law. To that extent, the Independent National Electoral Commission is mandatorily required to conduct the by-election once the ex parte order issued by the Federal High Court last Friday is quashed. “In the case of Abegunde vs Labour Party (2015) LPELR 24588 (SC), the Supreme held that a legislator, who abandoned the political party that sponsored him and decamped to another political party has automatically lost seat in the parliament. “However, the cross-carpeting

legislator can only retain his seat if he can prove that the political party that sponsored him is divided into two or more factions. “The 25 members of the Rivers State House of Assembly, who decamped from the PDP to APC, have lost their seats because the PDP that sponsored them is not fractionalised or divided as stipulated by the constitution. “Even if all the cases in the Rivers State High Court and the Federal High Court are withdrawn in line with the advice of the president, it is submitted that all actions taken by the Speaker recognised by the Rivers State High Court, remain valid, including his pronouncement on the vacant seats of the 25 cross carpeting members of the house. “In other words, only a court of law is constitutionally competent to set aside the pronouncement of the Speaker, which is anchored on section 109 of the constitution. Furthermore, as the Speaker has not been removed by the required number of legislators, a presidential directive cannot remove him. “It is also necessary to point out that until a by-election is conducted by the Independent National Electoral Commission to fill the 25 vacant seats, the remaining members of the house are competent to conduct legislative business, except the impeachment of the governor, which can only be carried out by the two-thirds of the entire members of the House of Assembly. “In view of the foregoing, the president and all the parties involved in finding political solutions to the crisis in Rivers State are advised to turn to the constitution for guidance without any further delay.”

Clark: Fubara Didn't Sign Peace Pact with Wike

Elder statesman, Chief Edwin

and offices of a businessman with a bulldozer, destroying and carrying off valuable equipment, I tackled its then director and demanded civilized usage in opposition to brute force. “It was this that impelled me to facilitate bringing to Nigeria President Kagame of Rwanda to Nigeria to lecture on how he tackled a deepseated corruption culture among public servants. “That was effected in the context of a conference on that very theme at the dedication of new offices of EFCC. I have never hidden my commitment to the operations of any corruption fighting agency, including EFCC’s predecessor, the ICPC. “Those credentials are stated to forestall any time-wasting and distracting interventions – let us now get down to immediate, and nation affective missteps by that same EFCC.

Clark, said Fubara of Rivers State did not sign any peace pact with Wike, saying any report to the contrary is fake. The First Republic Minister of Information stated this while addressing journalists in his Abuja home. He said stakeholders in the state, including former governors and leaders of the ethnic nationalities and religious groups, had confirmed to him that Fubara did not sign any pact. Clark said, "I have got information from Rivers State that the eight-point decision was fake because it was not signed by former Governor Peter Odili and Fubara himself. They rejected it. How they came into signing it, nobody knows. "This will be investigated by us. But just now I am appealing on behalf of our people that our dear son, Governor Fubara, to stand firm, that the president of Nigeria has no authority over him. "The president was elected; he, too, was elected with various powers. The president is to rule over Nigeria while Fubara is to rule over Rivers State. "This had been dealt with in several cases, particularly, between Tinubu, as governor of Lagos State, and former President Olusegun Obasanjo. Why has he now changed? Tinubu should respect the constitution under which he swore an oath. "We still love him, we still believe in his leadership as President of Nigeria and Commander-in-Chief of the Armed Forces, but as citizens of this country, we have a right to reject any of his obnoxious directives. "We will advise Governor Fubara to disown the purported agreement. He should speak out to Nigerians that he did not sign that agreement. He is not owing anybody any obligation.

WEDNESDAY, DECEMBER 20, 2023 • T H I S D AY

NEWS

Inaugurated Ikeja Red Line Flyover...

The Ikeja Bridge, part of the key infrastructure of the Red Line Rail (Agbado to Oyingbo), opened by Governors’ Forum Chairman, Kwara State Governor AbdulRasaq AbdulRahman... yesterday.

Fagbemi Unveils Plea Bargaining Guidelines, Lists Benefits Alex Enumah in Abuja

The Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN) yesterday in Abuja, unveiled the plea bargaining guidelines for federal prosecutors, 2023. The guidelines are part of innovation brought by the Administration of Criminal Justice Act (ACJA), 2015, aimed at enhancing justice delivery in the country. Speaking at the unveiling ceremony cum maiden sensitisa-

tion workshop on the guidelines, Fagbemi pointed out that the effective deployment of plea bargain provisions will reduce the financial cost of prosecutions, hasten trial processes, eliminate uncertainty of trials, facilitate the quick return of stolen assets and generally enhance the efficiency of the criminal justice system. "Drawing from the above interpretation, it is clear that the concept of plea bargaining is an important component of the administration of criminal justice

system. “Several benefits of plea bargaining come to mind. For example, it helps in the management of the caseload of prosecutors and enables the state to concentrate its limited resources on the cases considered more deserving of full prosecution. "When applied in compliance with stipulated guidelines, plea bargaining can enhance the quick recovery of stolen assets and proceeds of crime. It is also one of the mechanisms that can

facilitate cost effective, timely and sustainable decongestion of custodial centres", he said. The AGF lamented the misconception about the practice of plea bargaining in serious and complex cases, especially when the defendant is a politically exposed person or high net individual. According to him people often misunderstood the practice as a means of giving soft landing to individuals who have looted the resources of the state and commonwealth of the nation.

Tudun Biri Bombing: House Urges Humanitarian Affairs Ministry to Provide Relief Materials to Victims, Survivors Adedayo Akinwale in Abuja

The House of Representatives has called on the Ministry of Humanitarian Affairs to provide the necessary relief materials to families of the victims and survivors of military bombings in Tudun Biri Village of Kaduna State. The resolution of the House followed the adoption of a motion on matter of urgent public importance on the recent military bombings of innocent unarmed civilians in Tudun Biri Village of Kaduna State, moved at the plenary on Tuesday by Hon. Umar Ajilo. Presenting the motion, Ajilo expressed concern about the recent unfortunate incident of military bombings of innocent unarmed civilians in Tudun Biri Village that resulted in the loss of several lives, many of whom were women and children. The lawmaker stressed that most worrisome was the intermittent reoccurrence of the unfortunate

incidents by the same military constitutionally responsible for the defense and protection of the lives and properties of Nigerians. He said this particular incident and many similar incidents in the past which had been widely tagged as ‘operational mistakes’ by the military has exposed the level of intelligence failure in military operations. Ajilo added that the House must rise to the occasion to ensure that this marks the end of the series of mistakes that more often than not go uninvestigated and the victims uncompensated. He noted that as duly elected representatives of the people, the 10th Assembly must not only join in condoling and condemning the wanton act but also ensure that the families of the victims and survivors of this unfortunate incident are well compensated by the government. The House resolved to: "Constitute a committee to pay a condolence visit to the families

of the victims and survivors of the Tudun Biri bombings. "Mandate the Committee on Army to investigate the unfortunate

incident with a view to assessing the damage done and ensuring adequate compensation of the victims and survivors."

"This negative perception was more common prior to 2015 when there was no specific statutory provision regulating the practice of plea bargaining. "Today, this perception has not significantly changed notwithstanding the provisions of section 270 of the Administration of Criminal Justice Act, 2015 and similar provisions in the Administration of Criminal Justice Laws of the various States of the Federation which now provide for plea bargaining. "This has necessitated the need for standard guidelines for the implementation of plea bargaining provisions contained in our laws. "The objective of these guidelines is to, inter alia, guide the prosecution and the defence in reaching a plea bargain agreement that is in the interest of justice, the public interest, public policy and the need to prevent abuse of legal process. "It is my conviction that these guidelines will not only enhance

public confidence in plea bargaining process in Nigeria, but will reduce case backlog and congestion of correctional centres, and ensure that the principles of accountability, equity, integrity and transparency are observed in the exercise of prosecutorial discretion on plea bargain, in line with international best practices. "Our conviction is that the guidelines which we are unveiling today will promote standardisation, enhance the effective implementation of the plea bargaining provisions in the ACJA and significantly contribute and stimulate overall efficiency of the criminal justice system in Nigeria," he added. While taking into consideration the advantages, Fagbemi appealed to state governments to adapt or adopt the provisions of the guidelines, especially when dealing with plea negotiation of federal offences.

Poverty in Nigeria Threatening Security, Says Anambra Lawmaker David-Chyddy Eleke in Awka

A member of the Anambra State house of Assembly, representing Awka south 1 constituency, Hon. Henry Mbachu, has decried the level of poverty in Nigeria. The lawmaker who took a tour of some markets in his constituency said with the level of poverty ravaging a good number of Nigerians, it is evident that the country's

national security, stability and unity will be threatened if it continued. Distributing seed capital of N10,000 each to petty traders in markets across his constituency, Mbachu called for a more sustainable approach to tackling the country’s increasing rate of poverty. "My engagements have been focused more on the people, especially the poor who live below the poverty line. The

level of poverty and inequality in Nigeria today threatens national security, stability and unity. "That is why we are touring some markets in this constituency, distributing seed capitals to local market men and women. The impact of the activities of these petty traders on the local economy is so enormous that one would wonder how such capital base of N10,000 can make a huge difference in people's

lives," he implored. He emphasised that creating more job opportunities for the underprivileged, implementing economic and institutional reforms for efficiency, would elevate incomes. He also called on young people to come out and assist government in the fight against corruption by being active partners in monitoring projects, the development and growth of their local communities.

wednESday DECEMber 20, 2023 • T H I S D AY

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FOOD SECURITY ON THEIR MINDS…

L-R: Lagos State Deputy Governor, Dr. Obafemi Hamzat; Lagos State Governor, Babajide Sanwo-Olu, and Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, during the inauguration of the MidLevel Agro Produce Hub in Idi-Oro, Mushin, Lagos…recently SUNDAY ADIGUN

Gunmen Abduct High Court Judge, Driver, Kill Police Orderly in A’Ibom Okon BasseyinUyo

A High Court judge, Justice Joy Unwana and her driver have been kidnapped in Oron Local Government Area of Akwa Ibom state by yet to be identified gunmen. The police orderly attached

to Justice Unwana was killed in the encounter which occurred last Monday along the Uyo-Okobo road leading to Oron town. Chairman Oron branch of the Nigeria Bar Association(NBA) Torosco Eyene disclosed the incident yesterday.

Oborevwori Tasks LGAs on More Impactful Projects

Omon-JuliusOnabuinAsaba

Delta State Governor, Sheriff Oborevwori, has charged local government authorities in the state to brace up the challenge of embarking on programmes and projects that would enable them address the needs of the people of their respective localities. Oborevwori, who gave the charge in Asaba at the a ceremony to empower 250 persons by the Oshimili South Local GovernmentArea, said the time has come for people to feel the impact of local government administration through relevant infrastructure and other projects that complemented

those of the state government. The governor, who was represented by his Chief of Staff, Hon Johnson Erijo, noted that “the impact of government could only be reasonably felt when as many persons as possible are taken out of the poverty bracket.” The state government required “the complementary roles of the local government councils in making life more meaningful to all Deltans,” commending the Chairman of Oshimili South LGA, Dr Kelvin Ezenyili, for his giant strides in infrastructural and human capital development.

According to Èyene, the judge was kidnapped on her way back to Uyo after the court sitting ìn Òron. He said members of the association have scheduled a meeting with the State

Commissioner of Police and DSS today (Wednesday). He said: “Yes, the sitting Judge in Oron LGA was kidnapped Monday on her way back to Uyo after court sitting. By Wednesday

we are moving down to Uyo to meet with the commissioner of Police, Olatoye Durusinmi and the DSS on the issue.” The State Police Public Relations Officer, SP Odiko Macdon could

not be reached for confirmation of the report. By the time of filing this report the abductors didn’t open communication channel with the family.

Chuks Okocha in Abuja

programme monitored in Abuja yesterday. Itodo called for laws to limit the excesses of individuals who subvert the process. He noted issues such as the readiness of polling units’ results sheets before voters even cast their votes poses threats to credible elections.

Itodo said: “The BVAS, politicians have now come to accept the fact that this device is a game changer. It limits multiple voting and limits voting by proxy and what they have now employed is the BVAS bypass because they know how powerful it is in ensuring the integrity of the process.

“But what you see is this constant attempt to undermine the process. When we think about reforms and bigger lessons, we need to speak to our political class on the need for them to change their attitudes towards elections. “We need laws that limit the excesses of individuals who want to subvert the process.”

Desperate Politicians Undermining Electoral Reforms, Says YIAGA Africa YIAGAAfrica has accused those it described as desperate politicians for political offices as responsible for undermining electoral reforms in Nigeria. The Executive Director YIAGA Africa, Samson Itodo, stated this in an interview on a television

Police Arrest Couple Who Bought Month-old Baby for N30,000 in Anambra David-ChyddyElekeinAwka

Police in Anambra State have arrested a couple for trafficking one month old baby into Anambra State from Lagos. The couple confessed to buying the child for N30,000, after they were arrested at Bridgehead Onitsha,

while travelling into Anambra from Lagos, after a tip off by a fellow passenger. A press release issued by the spokesperson of the Anambra State Police Command, DSP. Tochukwu Ikenga, said: “The interception was made at Bridgehead in Onitsha on December 17, 2023.

“The couples were travelling in a luxury bus belonging to a popular transport company with the baby when a co-passenger observed that the mother could not breastfeed the baby despite its cry for food in the course of the journey. “The good Samaritan put a call through to Anambra Police on its

Association of Nigeria (HURIWA) has condemned President Bola Tinubu’s inauguration of the new Board of the Nigerian National Petroleum Company Limited (NNPCL).

particularly the chairman of the board is still pending at the Court of Appeal, Abuja. A Federal High Court had last year nullified the removal of the name of Senator Ifeanyi Ararume

Ararume from functioning as NNPCL Board chair. Although, the oil firm and the federal government have appealed the judgment, and while it was yet to be vacated by the court, the president

Control Room hotline in Awka, which then relayed the information to the police at Bridgehead in Onitsha. “The police laid in wait for the luxury bus described and intercepted it in the evening hours. The couple and the baby were identified and brought down for questioning.

Condemns Inauguration of NNPCL Board, Says Tinubu Acted against Rule of Law Erisco Foods Rewards Staff with Group The group hinged its as chairman of the NNPCL and appointed a fresh executive and AlexEnumahinAbuja condemnation on the grounds restrained the federal government inaugurated them few days ago. Cars, Cash at Year-end Party The Human Rights Writers that the issue of the leadership, from taking any steps to prevent Reacting, the human rights

NumeEkeghe

It was a weekend of celebration and recognition as Erisco Foods Limited (EFL), the leading tomato paste manufacturer in Nigeria, held its annual end of year party and staff recognition awards to reward its employees’ loyalty to the company for a period of 10 years and above. The event, which was held at the headquarters of EFL in Alausa, Ikeja, also served as a stock taking event, taking into cognisance the progress and challenges faced by the organisation as well as providing insight into EFL global plans for the coming year 2024. The President/Chief Executive

Officer of EFL, Dr. Eric Umeofia, in his speech, appreciated the staff’s collective efforts and contributions to Umeofia said: “We were able to achieve a lot of success because of the incredible support given to us by all members of staff across all levels. As it is our tradition, we celebrate and recognise the incredible role they continue to play.” Furthermore, more than 50 other staff members were also rewarded with cash prizes ranging from N15,000 to N500,000. The company also ensured that the ICT staff, who played a vital role in the organisation’s success, were appreciated by sharing a lump sum of N1 million among them.

group in a statement, criticised the president’s move, stating that inaugurating the board during the legal proceedings reflects a disregard for the rule of law and a lack of respect for the judiciary.

Yuletide: NSCDC Deploys 2,345 Personnel to Protect Govt’s Assets in Rivers Blessing Ibunge inPortHarcourt

The Nigerian Security and Civil Defence Corps (NSCDC) Rivers State Command said it has deployed 2,345 personnel to protect all critical national assets and infrastructure across the State before,

during and after the Christmas and new year celebration. The State Commandant of the NSCDC, Basil Igwebueze, disclosed this yesterday, while parading 10 suspects arrested for illegal oil bunkering in the state. Igwebueze, who disclosed

that the anti-vandal unit of the command worked relentlessly in curtailing the nefarious activities of illegal oil bunkerers and vandals in the State, said the command impounded 15 vehicles used for illegal activities. “The Anti-vandal unit of the

command arrested these 10 suspects and 15 vehicles were also impounded altogether. It should also be noted that these arrests were made possible through credible intelligence received which made our personnel swung into action without delay.

Associates, Friends Felicitate Saraki at 61, Hold Special Prayers Hammed Shittu in Ilorin

were trooping in event include, the state the State Government(SSG) Experts Harp on Quality Political associates and friends associates for the occasion. Chairman of the Peoples Alhaji Sola Gold and Alhaji Saka Although, the celebrant was Democratic Party (PDP), Hon. Onimago, former Attorney of the former Senate President, Education at Bauchi Summit Dr. Bukola Saraki yesterday not around as was said to be Babatunde Mohammed, state General and Commissioner planning and implementation Segun Awofadeji in Bauchi

Resource persons at the 2023 Bauchi State Education Summit have stressed the need for a strong partnership between the state Ministry of Education and development partners towards improving the standard of education in the state. They also advocated for the establishment of State Education Trust Fund to ensure effective mobilisation of the required resources towards proper

of actionable education development initiatives. Some of them, including the Vice Chancellor Federal University Kashere Prof. Umaru Pate, and former Vice Chancellor, Federal University Gasua, Prof. Andrew Haruna, said Public Private Partnership (PPP) often contributed to the provision of access to quality education hence the need for the state government to key into the system.

converged on his Ilofa country home, GRA, Ilorin, Kwara state capital for special prayers to mark his 61st birthday.

As early as 7.00 am, the

Among associates at the

Ahmad, former Secretaries to

attending to some national issues but the event was attended by the associates in his honour.

Secretary of the PDP, Hon. Abdulrahman Kayode, the former Speaker of the state House of Assembly, Prof. Ali

for Justice, Alhaji Abimbola Isau (SAN) and former PDP chairman in the state, Alhaji Ishola Balogun Fulani.

Babalola Assumes Duty as New Resident Electoral Commissioner in Ondo

Fidelis David in Akure

Less than 12 months to the 2024 governorship election in Ondo State, a new Resident Electoral Commissioner (REC), of the Independent National Electoral Commission (INEC),

has resumed duty in the state. She is Mrs. Oluwatoyin O. Babalola and one of the recently sworn-in nine out of the 10 RECs by the Chairman of INEC, Mahmood Yakubu. A statement by INEC’s Administrative Secretary in

Ondo State, Biodun OnikateAmosu, made available to journalists in Akure yesterday said the new REC resumed on Monday, 18th December 2023, replacing Dr. Rufus Akeju. The electoral body had in September announced that the

governorship election will hold on Saturday 16th November 2024 as party primaries will hold from 6th – 27th April 2024 as provided in Section 178 (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

wednESday DECEMber 20, 2023 • T H I S D AY

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CRANEFIELD UNIVERSITY ALUMNI’S DINNER…

L-R:ChiefExecutiveOfficer, SochitelUK,Mr.JerryEjikeme;Director,HumanResourcesandAdministration,AirtelNetworks,Mrs.BimpeAyo-Elias;President,CranfieldUniversityUK,NigeriaAlumni/ManagingPartner, LecoleConsulting Nigeria, Evbusogie Osojie, and Senior Project Manager , Cisco International, Niran Ogundipe, all members of Cranfield University UK, Nigeria Alumni, at the group’s annual dinner in Lagos… recently. ETOP UKUTT

NSCDC Arrests Railway Infrastructure Vandals, Illegal Miners in Abuja Michael Olugbode in Abuja

Operatives of the Nigeria Security and Civil Defence Corp (NSCDC), have arrested two vandals of railway infrastructure and 11 illegal miners in the Federal Capital Territory (FCT), Abuja and environs. According to the FCT Commandant of the NSCDC,

Mr. Olusola Odumosu, whose men clampdown on the criminal elements, the two railway vandals were arrested by the Operatives of the Critical National Assets and Infrastructure unit of the command for willfully vandalising rail tracks and traffic lights in Wuse Area of the territory. Odumosu said the command

‘Present Model of Varsity Funding Not Sustainable’ KunibTyessi in Abuja

The Executive Director of Niger Delta Power Holding Company Limited, Dr. Ifeoluwa Oyedele, has said that the federal government and the Academic Staff Union of Universities (ASUU) must realise that the present model for funding universities is longer sustainable. Oyedele said that both parties must come to the painful realisation that the issue of autonomy should be re-visited so that universities could use their talents to generate more funds. He stated this after his conferment of a honorary

in collaboration with the Nigerian Army arrested 11 suspects involved in illegal mining activities at Izom, a community located at the boundary of FCT

and Niger State. Parading the suspects, Odumosu informed that the proactive measures taken by the command would serve as

a deterrence to other criminals within the territory. He said: “Our effort is geared towards combating various forms of criminality,

particularly vandalism of Critical National Assets and other public infrastructure, illegal mining activities and among others within the FCT.

Michael Olugbode in Abuja

of his cabinet allegedly violate the Public Procurement Act (PPA) 2007. In a letter to the president titled: ‘Rampant Contract Approvals and Payments Without Due Process Certificates: A Call for Investigation’, the

group accused ministers of allegedly bypassing due process in contract awards under the pretext of timely implementation of the president’s Renewed Hope Agenda. The letter, which was igned by Akingunola Omoniyi, head

of Office of NEFGAD, said the group “have it on good authority that most of the requests for approvals without due process usually come in the guise of impediments/delays experienced under the public procurement regulation by these purveyors.”

Group Calls for Probe of Public Procurement Process, Accuses Ministers of Bypassing Due Process

A group, the Network for the Actualisation of Social Growth and Viable Development (NEFGAD), has called on Doctorate Degree in Engineering President Bola Tinubu to (D.Eng) by the management of investigate the way members the Achievers University, Owo, Ondo State, adding that while the National Universities Commission (NUC) might be seen as granting IbrahimOyewaleinLokoja too many provisional licenses to universities, the country with As part of efforts to put an end illegal mining in Kogi State, the its population needs more to state government has arrested 10 universities. miners allegedly operating illegally Reacting to the incessant strikes in Ankpa Local Government Area in universities and how it could of the state. be curbed, he said: “I do not think The state Commissioner for Solid ASUU is using strikes as a tool Minerals and Natural Resources, to blackmail government but it is only reacting to bureaucratic delays that make government not to be responsive to its demands. Gbenga Sodeinde inAdoEkiti

Kogi Arrests 10 Illegal Miners, Impounds over 50 Coal-laden Trucks

The Benue State Governor Rev. Fr. Hyacinth Alia has said that there is no window for anyone to divide the All Progressives Congress (APC) rank in the state. Govenor Alia said this at the flag off of the third phase of distribution of palliative held at the secretariat of the State Emergency Management Agency (SEMA) yesterday. He maintained that anyone who wanted to toy with this administration would be tagged “enemy of the state” and people of the state would not give that person(s) the window to do so at all.

He added that those who seek to destabilise his administration, should have it on good authority from him that he has come to work as governor of the state. “I have truly come to work. So, people of the state should expect greater things ahead in 2023. Let us remain on the same page. APC has come to bring succor and ensure that everyone enjoy the benefits of democracy. “APC welcomes everyone and we will continue to stretch out our hands to other parties to come and join us to take the state to heights. I don’t want anyone to grumble because we are here to serve you.

Nigerians to show sympathies and solidarity with families of those who died or suffered disabilities at the war fronts while defending the country’s territorial integrity.

The Niger State Government has proposed to spend over N613.2 billion for both recurrent and capital expenditure in 2024. This was announced yesterday by Governor Mohammed Umaru Bago in Minna when he presented the 2024 budget estimates to the Niger State House of Assembly. Bago said that N149.2 billion is for recurrent expenditure while over N464 billion would be

help in the revenue generation. Over the years, we have asked miners in the state approved by the federal government to register with the Ministry of Solid Minerals and Natural Resources.” “This has, however, fallen on deaf ears with people brazenly destroying our communities. Illegal mining is totally prohibited in Kogi State.”

The state governor posited that the best honour Nigerians can accord them is by supporting their distressed families to overcome those harrowing challenges and sufferings caused by the deaths of their loved ones. Oyebanji stated these during an emblem launch/ appeal fund in

commemoration of the 2024 Armed Remembrance Day, in Ado Ekiti, the Ekiti State capital. The governor, represented by the Deputy Governor, Chief Monisade Afuye, described the launching as a veritable opportunity to acknowledge the roles, contributions and selfless services of the country’s

fallen heroes and the living veterans of the Armed Forces. The governor expressed sympathy for those who died at the war fronts or suffered any form of disabilities, while working assiduously to stabilise the country, insisting that the country must show huge appreciation to them.

40-year-old Woman Seeks N3.5m to Fight Cancerous Brain Tumor Segun Awofadeji in Bauchi

A 40-year-old woman, Mrs. Modupeore Ogunrinola, has sent a save-my-soul message to well-meaning Nigerians for financial assistance to treat a brain tumor which has become

committed to capital estimates. He tagged the budget “Budget of the Future” and said that income from statutory allocation is projected at N155,963,711,064.00 with Value Added Tax VAT expected to generate N50,644,000,750.00 and Internally Generated Revenue IGR would bring in N61,868,620,968.35 just as Excess Crude/Other Revenues would generate N9,576,322,737.00 to the government with SURE-P Refund expected to bring in N20 billion.

cancerous. The mother of three, who was diagnosed with a brain tumor in 2020, said: “On September 20, 2020, I had the operation at Molly Specialist Hospital, Idi Ape, Ibadan, Oyo State through the financial

and psychological support of my parents, siblings and my husband. “The surgery was confirmed to be very successful. This is to the extent that I did not exhibit any expected normal negative surgery

aftermath. A few days later, I was discharged. Thereafter, I was recommended for radiotherapy which I had at University Teaching Hospital, Ibadan. I was recuperating and regaining my health progressively.”

Senator Joel-Onowakpo Appoints Two Special Advisers Sylvester Idowu inWarri

Senator Joel-Onowakpo Thomas,

Delta South Niger to Spend N613.2bn in 2024 representing Senatorial District, has appointed Laleye Dipo in Minna

‘operation stop illegal mining in Kogi State’ is on course, said the government has confiscated over 50 trucks carrying coal illegally with the support of the Nigeria Police, Nigeria Security and Civil Defence Corps (NSCDC), Department of State Services (DSS), and local vigilantes. Gegu said: “We must implement the federal government policy and

Oyebanji: Families of Nigeria’s War Veterans Deserve Empathy, Solidarity

State Governor, Biodun There is No Division in Benue APC’ Ekiti Oyebanji, yesterday charged George Okoh in Makurdi

Bashiru Gegu, disclosed this last Monday evening in Ankpa, when his ministry in collaboration with the Kogi State Special Task Force on Illegal Smuggling of Firearms and Other Related Crimes began the enforcement of Governor Yahaya Bello’s directive to illegal mining across the state. Gegu, who noted that the

Mr. Augustine Seibi and Hon. Uyoyou Edhekpo as his special advisers. Thomas said that the appointments were in fulfillment

of his electoral promises to accommodate the interests of diverse groups in his Delta South Senatorial District. Seibi was named Senior Special Adviser on Chieftaincy, Cultural and Traditional Affairs while Edhekpo was given the portfolio of Senior Special Adviser on Women Affairs and Social

Welfare. The senator said that the appointments were carefully considered and made with the overall aim of making his office more accessible to the people of Delta South Senatorial District level. While congratulating the appointees, he appealed to all Delta South constituents and the

public to cooperate with them and others who were earlier appointed for the overall interest of the senatorial district. The APC senator had appointed four Senior Special Assistants {SSAs} representing the four ethnic nationalities in Delta South Senatorial District, namely Isoko, Izon, Itsekiri and Urhobo.

The Chief Executive Officer and Executive Secretary ABC, Ms. Margaret Olele, said at the ABC cyber hub launch and media parley tagged “Cybersecurity Accessibility in Africa-creating an Inclusive Cyberspace” said that the launch

of the hub is aimed at providing cybersecurity training modules and fostering cybersecurity awareness for the youths in Nigeria. Olele pointed out the need to provide accessible solutions to safeguard critical

infrastructure in the country, pointing out that education, training and investment in critical infrastructure is key to tackling cyberattacks while also increasing the accessibility and understanding of cybersecurity in the country.

ABC Launches Virtual Hub to Address Nigeria’s Cybersecurity Skills Gap Gilbert Ekugbe

The American Business Council (ABC) has launched its virtual cybersecurity hub to address the dearth of Nigeria’s cybersecurity skill currently put at over four million.

T H I S D AY • WEDNESDAY, DECEMBER 20, 2023

WEDNESdaysports

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

0811 181 3083 SMS ONLY

Awoniyi, Aina, Dennis to Miss Sacked Steve Cooper at Forest

Femi Solaja

Nigerian internationals at Nottingham Forest like Taiwo Awoniyi, Ola Aina and Emmanuel Dennis will finish 2023 football season under a

new manager following the sacking of Steve Cooper yesterday. Cooper who was largely instrumental to the Nigerian trio transfer to City Ground, was fired as Nottingham appear lost in forest

of uncertainty this season. They have lost five of their past six games at a stretch. He is the second Premier League manager to be sacked this season,

after Sheffield United fired Paul Heckingbottom earlier this month. Former Wolves boss Nuno Espírito Santo is already in talks to replace Cooper at Forest.

The 44-year-old led Forest to promotion to the Premier League in 2022, ending a 23-year absence from the top flight. "His achievement in guiding For-

AFCON: Euro Clubs to Release Eagles New Year Day Officials of the Nigeria Football Federation (NFF) have confirmed that there will be no club versus country row this time around following an agreement reached with European clubs to release Super Eagles players for the AFCON latest January 1, 2024. European clubs have always been reluctant to release players in good time for the AFCON because it is often played in the middle of their league seasons. However, NFF’s Director of Communications, Ademola Olajire, confirmed to scorenigeria.com.ng

that the football federation has reached an agreement with the foreign clubs of invited players for them to report to camp on January 1. The Eagles are due to set up training camp in Abu Dhabi for the AFCON in Cote d’Ivoire. They will feature in an invitational tournament to prepare for the delayed AFCON. They open their 2023 AFCON campaign on January 14 in Abidjan against Equatorial Guinea. Hosts Cote d’Ivoire and Guinea Bissau are the other teams in Group A.

LSSC Kicks off End of Year Sports Fiesta with Medical Outreach The Lagos State Sports Commission (LSSC) has kicked off 2023 end of year sports fiesta, with a medical outreach for its staff in a weeklong event themed 'Stronger2gether" started at the Mobolaji Johnson Rowe Park Sports Center Yaba. Officers were examined in a series of medical screening including height rate, weight balance, blood pressure, random blood sugar and a dental check.The rationale behind the medical exercise is to increase the awareness of maintaining a good healthy lifestyle which has been the mantra of the sports commission and in preparation for the end of the year fiesta Games. The week is scheduled to have various sporting events starting tomorrow with Handball, Volleyball, Five A Side, Beach Badminton, Abula, Basketball,

Tug of War, TableTennis, Ayo, Chess, Scrabble, Monopoly and other Board Games. Director General, Lagos State Sports Commission, Oluwatoyin Gafaar, said the medical outreach was designed for staff to know their health status and fitness status so as to manage all conditions. Gafaar stated that “We are in sports both physically and mentally but no matter what we need to check that we are medically fit and it’s compulsory we start from home and that’s why we are starting our celebration week with the medical outreach for the staff of the Lagos State Sports Commission. Also, we are giving everyone the opportunity to have a dental check. All this is to ensure that the staff are fit to do their jobs because they are the face of the commission”

Taiwo Awoniyi (right) and Steve Cooper plotting a game plan. Now, the gangling striker will end the 2023 football season without the gaffer who brought him to City Ground...

Xavi Throws Jibes at Osimhen’s Napoli, Insists Barca Favoured for Q’final Former Spanish midfielder and Barcelona Manager, Xavi Hernandez, has thrown jibes at Victor Osimhen and his Napoli teammates to be ready to exit the Champions League, as Catalan club only aim is to advance to the quarterfinals. Both teams were paired in the Last 16 Round of the Champions League in the draws released on Monday night In what promised to be a

C H A M P I O N S L E AG U E

battle between two champions – Barcelona lifted the Spanish La Liga title while Napoli won the Scudetto for the first time in 33 years – and two teams notorious for their commitment to playing attacking football. But on paper, the Spanish giants and former winners are slightly favoured to progress over two legs.

Visa Inspires Nigerians with 2023 AFCONTrophyViewing Experience Visa, the world leader in digital payments and sponsors of 2023 TotalEnergies Africa Cup of Nations (AFCON) tournament in Cote d’ Ivoire, recently welcomed its partners and lovers of African football in Nigeria to an exclusive viewing of the AFCON trophy. The trophy arrived in Lagos on

Thursday, 14th December. As part of the activities for the tour, the trophy made its first stop in Nigeria at the Lagos State Government House, and was presented to the Governor of Lagos State, Mr Babajide Sanwo-Olu, by Andrew Uaboi, Vice President, and Head of Visa West Africa, further

est back will undoubtedly remain an iconic moment in the club's history," said owner Evangelos Marinakis. "We thank Steve for his dedication and commitment during his time with us, as well as the incredible connection he forged with our supporters and the city of Nottingham. "Steve will always remain a friend of the club and will forever be welcome at the City Ground. We wish him well in his future endeavours." Cooper, who continued to be a popular figure with the club's fans, was told of the decision to relieve of the job yesterday. Forest, who are 17th in the Premier League, have won once in their past 13 top-flight games, taking eight points in that period. They have picked up one point from their past six matches and are five points ahead of thirdfrom-bottom Luton, who have a match in hand. Cooper's final game at the helm was a 2-0 home defeat by Tottenham last Friday. The former England Under17s boss Cooper was appointed when Forest were bottom of the Championship in September 2021, leading them to promotion in the same season and ensuring top-flight safety with a 16th-place finish. The Welshman overhauled the squad after promotion with 19 players joining on permanent deals and three arriving on loan, while 17 left the club.

reiterating Visa’s continued support for sports in Nigeria. Visa also extended the trophy visit to its clients and partners, customers and football enthusiasts at an event hosted by internet sensation Bukunmi Adeaga-Ilori, popularly known as kie_kie, and Radio Celebrity OAP, Tega Onojaife

L-R: Director Corporate Communications, Visa West Africa, Niyi Adeniyi; Vice President and Cluster Head, Visa West Africa, Andrew Uaboi; Executive Governor of Lagos State, BabajIde Sanwo-Olu; Director Marketing, Visa West Africa, Adaramola Oluwaseun; and Director Government Engagement Visa West Africa, Chidozie Arinze at a courtesy visit to the State House with the TotalEnergies CAF Africa Cup of Nations Trophy, courtesy Visa West Africa, sponsors of the 2023 tournament in Côte d’Ivoire

of Smooth FM. The event featured a football panel discussion, an amazing musical performance by Mavin's top-rated artiste, Crayon and an opportunity for guests to experience the Trophy live.

Xavi’s Barca were the secondhighest-scoring side in the league last season with 70 goals. In comparison, Napoli managed 77 goals, more than any other team in the Italian Serie A. Africa Player of the Year, Osimhen contributed immensely to that total as he smashed in 26 goals to finish top of the goalscorer chart. Despite Napoli’s struggles this term, the Parthenopeans have managed 28 goals in 16 games, which compares favorably with Barcelona’s 31 goals in 17 matches. Still, Xavi has taken a dig at Napoli, suggesting that the Italian champions have become a more defensive unit under new manager Walter Mazzarri. “They are the reigning Italian champion team; they haven’t won

the title since Maradona’s time,” Xavi said, as per Tutto Napoli. “They are in a situation like ours, even if last year’s coach is no longer there, and now there is Mazzarri, who is more defensive. There are still two months to go, but we want to move on to the quarterfinals.” The first leg of the Round of 16 clash between Napoli and Barcelona will be played at the Diego Maradona Stadium on February 21, ten days after the end of the 2023 Africa Cup of Nations tournament. Even if Nigeria reach the final, Osimhen will have enough time to recuperate before leading Napoli to a historic faceoff with Barcelona. The Super Eagles striker scored six goals to fire Napoli to the quarterfinals of the Champions League for the first time in history last season.

Excitement as Molade OkoyaThomas Cup Ends in Style

There was excitement yesterday at the 55th Molade Okoya-Thomas Table Tennis Cup as top players battled for spots in the finals taking place today at Teslim Balogun Stadium. From the men’s singles to the women’s singles, there were no upsets as former champions – Hamed Adeyinka, Rilwan Akanbi, David Fayele, and Muiz Adegoke are all in the race to cuddle the coveted trophy at stake at the three-day tournament. Adeyinka who claimed the men’s singles title in 2015, 2016 and 2018 believes he has the chance to reclaim

the title after five years. “It is certain that I can win the title but I must confess that the young players are playing well and I hope I can use my experience to my advantage when I confront any of them. There is no doubt the tournament has improved tremendously with the quality of players from the young players. I look forward to making it to the final and I hope I can do the impossible against some of the finest players in Lagos State,” Adeyinka said. The Referee of the tournament, John Peters lauded the family of the late Okoya-Thomas for their

steadfastness in staging the tournament without stopping years after the demise of the founder of the competition. “I am happy that the family has remained committed to the tournament and I hope we will play more of it in the future. This year’s tournament has shown that we have the players that can take over from the likes of Quadri Aruna and Olajide Omotayo because they are playing modern table tennis with their style of play and I hope our coaches are also hunting for talents that they can nurture to stardom,” Peters said.

Wednesday, December 20, 2023

UT H

& RE A SO

Price: N250

MISSILE PDP Ag. Chairman to Wike

“…There are other people who worked against this party. *When we get to that level we will sanction everybody. If Wike believes he is above this party, we will be able to show him that he is not above this party.” The acting National Chairman of the Peoples Democratic Party, Umar Damagum, reacting to criticisms that the party is incapable of sanctioning the Minister of the Federal Capital Territory, Nyesom Wike, is not above the party.

AttahiruJega guest columnist

Citizen’s Welfare and Security N igeria is a country of enormous potentials. We are often told that it is the largest economy in Africa, with stupendous natural mineral and agricultural resources, in addition to comparatively much more trained and intellectually endowed human capital. We are also often reminded that one out of every 4 Africans is a Nigerian, and one out of every 5 black people in the world is a Nigerian. In spite of all these matters of pride, however, it is axiomatic that Nigeria currently faces tremendous, wide-ranging and verified challenges, which if not urgently and successfully addressed in good time, would put its future as a country, as well as the future of its citizens, in jeopardy. Anywhere in the continents of the world, in which a country of over 200 million is in jeopardy, the consequences would be wide-ranging and calamitous for the entire continent. Safeguarding Nigeria’s future, and by extension that of Africa, therefore, requires addressing these challenges and re-prioritizing the Nigerian state’s policies and strategies towards addressing the fundamental needs and aspirations of citizens, especially socioeconomic wellbeing and human security. The profound challenges, which currently bedevil Nigeria can be said to be structural, systemic and also related to value orientation. Structurally, we need to, among other things, address the challenges of how our federation is arranged and how it has evolved; how it has become distorted and centralized and how to deconcentrate power and resources from the federal center to the states and local governments. We also need to address how our national economy is structured and integrated into the global political economy, with greater benefits to former colonial masters than to Nigeria and its citizens. The systemic challenges are related to our system of government, its composition and decomposition, its costs, institutional inefficiency and decay, as well as the bad governance the institutions and elected public officials deliver, through elite capture and self-serving control of, especially, the electoral process. With regards to value-orientation, we need to address and reverse the mindsets of both the elites, especially the so-called political class, and even the masses, especially the electorate, from destructive engagement, to a more constructive involvement, with the electoral process, so as to ensure electoral integrity in bringing about respectable, responsible and responsive representatives of the people into the executive and legislative arms of government; responsible people who would address the needs and aspirations of citizens who elected them through good governance, rather than merely focusing upon their personal aggrandizement. The combined effects of these challenges have resulted in contested legitimacy of the state, bad governance, stunted economic growth and development, increased inequality and poverty amongst citizens, acute failure of the state to provide for welfare and security of not just the privileged few but all citizens. They have also resulted in popular dissatisfaction with electoral democracy and representative governance given their perceived failure to satisfy popular needs and aspirations. Hence, there is massive withdrawal of citizens from political participation in the governance processes, especially in elections, unless if there is massive corrupt, monetary, inducements. Nigerian citizens have for long aspired for representative democracy for socioeconomic development and have struggled for it. Their aspiration and struggles have, however, been constantly frustrated by the ruling and governing classes, to the extent that for many citizens, despondency has set in and the effort now seems almost futile. The ruling and governing classes have refused to confer all the rights and privileges, which citizenship ordinarily confers to Nigerians. Rather, they have manipulated primordial identities to subvert the essence and content of citizenship, and have, for

President Bola Tinubu example, significantly elevated so-called “indigene rights” and other primordial identities, which are no more than spurious unjustified privileges, over and above citizenship rights, with dire negative consequences on national cohesion, stability and socio-economic development of Nigeria. The struggle to acquire, protect and defend citizenship rights, as I once observed (Jega, 2019; 2021) is linked to the general struggles for expansion of democratic space, for protection and defense of fundamental rights, for the right to live in peace and securely, and earn a living in any part of Nigeria, and for good, democratic governance, which would ensure justice and equity as well as purposefully address the fundamental needs and aspirations of the majority of the ordinary Nigerians. The discourse on the citizens’ welfare and security in contemporary Nigeria needs to center on how the Nigerian state, currently under the liberal democratic framework, can discharge its responsibilities and obligations to its citizens through coherent, focused, people-oriented redistributive policies, which are targeted towards addressing the needs and aspirations of the generality of the citizens, devoid of exclusion, partiality, and abnegation of equality of opportunities for all citizens. Recommendations In the context of the preceding discussion and analysis, in order to safeguard Nigeria’s future and citizens welfare amidst security challenges, one can offer a number of practical recommendations, relating to the articulated structural, systemic and governance, as well as value-orientation issues highlighted in the presentation. With regards to the structure of the Nigerian Federation, it is highly recommended as follows: • That before 2027, some form of restructuring of the Nigerian federation should be embarked upon through evidence-based constitutional reforms, the objectives of which should be to deconcentrate powers and resources from the federal tier and to spread them to those of the state and local governments. In doing this, best practices could be learnt from model federations, such as India, Canada and the USA in the areas of revenue generation and sharing and adapted to our local context and circumstances • No additional states and LGAs should be created. The additional resources current states would get from the de-concentration of power and resources as recommended above would make all the 37 states and FCT financially viable and facilitative of grassroots development • The cost of governance at both the federal, state and

local tiers of governance need to be drastically cut, and measures introduced to entrench transparency and accountability and effective anti-corruption oversight With regards to the structure of the Nigerian economy, the following recommendations are offered: • Serious reform measures need to be introduced to diversify Nigeria’s earnings from dependence of export of crude oil, to expand investment in agricultural production and Agro-allied processing both for the home market and for export; and revive, expand and reposition our industries and manufacturing enterprises, for production, both for the home-market and for export • Conceive of and pursue economic growth and people-oriented development strategies, independent of the influence of IMF and the World Bank, relying on implementable development plans, which are realistically implementable within a delineated time-frame • Reform the country’s fiscal and monetary policies to strengthen our productive enterprises, human capital and currency • Conceive of and implement employment generation as well as entrepreneurship development strategies to help constructively address the challenges of the youth bulge in Nigeria • Nigeria should become more actively involved in south-south cooperation and development initiatives, in particular, in the BRICS+ With regards to addressing systemic and governance challenges, it is recommended as follows: • Amend the Electoral Act 2022, so as to remarkably improve upon the legal framework for future elections with integrity. In particular pay attention to reforming the role of political parties in the leadership recruitment and candidate selection processes at all levels and tiers of governance. • Pursue reforms to improve and protect the integrity of the judiciary, as well as find a way of insulating them from the corruptive politics of electoral dispute resolution through litigation • Improve the process of appointment into INEC with a view to protecting it from capture by crooked politicians and partisan pressures and influences • Strengthen and expand the scope of the work of anti-corruption agencies and institutions to mitigate the damaging impact of corruption in the Nigerian political economy • Institute and initiate reform measures that would ensure not only substantial reduction in the cost of governance at all levels, but also effective and transparent preparation, monitoring and implementation of budgets, as well as policies and projects With regards to states’ role in safeguarding the security and welfare needs of the citizens, it is recommended as follows: • The Constitution should be amended to explicitly recognize the equal rights of all citizens, irrespective of their ethnic status or affiliation, and regardless of whether they are perceived as ‘indigenes’ or ‘settlers’. Citizenship rights should, and must, triumph over any other particularistic, primordial rights. • The citizens in general, need to understand their rights, duties and obligations as citizens, they need to enhance their active participation in all aspects of societal development, and they need to contribute effectively to peace-building and good governance for sustainable socioeconomic development in Nigeria. • There is the need for greater citizens’ awareness, nurtured through civic and political education not only by the government, but through involvement of civil society and community-based organisations. • There is the need for transparency and accountability of government and respect for the rule of law. These are conditions for the creation and perpetuation of

social trust, cooperation and active participation of citizens in the development of their country. • There is the need for continual, far-reaching reforms on the citizens’ welfare provisioning at all levels of government, so as to advance, protect, a Having noted the role of the state to pay attention to citizens’ welfare in a democratizing country like Nigeria, it is recommended that defend, their human security and dignity • There is the need for a comprehensive review and reform of the security architecture in Nigeria, with targeted priority on policing reforms and repositioning, in terms of recruitment, training, motivating and equipping them for internal maintenance of law and order; a focus on training and retraining of the armed forces for their core role of protection and defense of the territorial integrity of the country and assisting the police in internal security only when the police are overwhelmed, and armed forces are formally called upon to provide support; and general training and retraining of all the security forces and agencies, with regards to intelligence sharing and joint security operations, with carefully defined roles for each security sector/agency. • Ultimately, the approach to security provisioning in Nigeria needs to be predicated on a broader and more holistic definition of security, which is human security in all of its significant components, rather than just physical protection of lives and property, which seems to be the prevailing but narrow definition of security provisioning by the Nigerian state.

Conclusion Theoretically, the ‘State’ exists, among other things, in order to cater for the security, welfare and basic needs of the citizens. In fact, no nation-state can exist for very long without institutional arrangements to promote the security and well-being of its members. Any state that fails to do this in the modern context would be considered as a “failed state.” Due to the resources ordinary available to the state under normal circumstances, it should have the capacity and competence to address human security challenges in the broader and more comprehensive definition of the term. In this context, the Nigerian state needs to discharge this obligation to its citizens. However, the citizens also need to recognize that they have obligations of citizenship to their country, and therefore have significant roles to play in shaping the present and safeguarding Nigeria’s future. All hands need to be on deck to ensure this, and citizens also need to understand the necessity of active, positive, participation and engagement in all spheres and sectors of the Nigerian political economy. Ultimately, the best way to safeguard Nigeria’s future and secure the welfare of citizens, devoid of massive security challenges, is to have elections with integrity, through an electoral process that is not captured by reckless politicians, that would bring good quality choices of the people, as their elected public officials/ representatives who have appropriate positive value-orientations, into the governance processes and institutions, and who would selflessly harness societal resources and deliver quality services within the framework of good democratic governance. Only in through this way can the state have the requisite legitimacy, stability, competence and capacity, as well as resourcefulness to effectively address the fundamental needs of the people with regards to human security and human dignity, and thereby satisfy their needs and aspirations. *Above are excerpts from a recent Convocation Lecture at the Bauchi State University, Ita-Gidau, delivered by Professor Attahiru M. Jega of the Department of Political Scienc Bayero University, Kano. NOTE: This piece continues in the online edition on www.thisdaylive.com

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