CBN Unveils Strategy to Cut Wheat Importation by 60% in Two Years Initiative to save $2bn FX annually James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday flagged-off the first ever rain-fed wheat programme in the country, which aims to slash the importation of the commodity by 60 per cent in two years.
The initiative is also expected to save the country $2 billion annually in foreign exchange. Speaking in Jos, Plateau State, during the unveiling ceremony for the Nigerian Brown Revolution, which is a central bank wheat value chain intervention, CBN
Governor, Mr. Godwin Emefiele, said following the successes in the Anchor Borrowers' Programme (ABP), the apex bank decided to extend the gains recorded in the rice and maize value chains to wheat production. He said the plan was to
ultimately eliminate wheat importation or reduce it to an insignificant contributor to the country’s total food import bill, adding that the wheat programme would benefit over 150,000 farmers. He also said the programme
would be implemented in 15 states on about 180,000 hectares of land. Emefiele said the programme would address the impact of wheat importation on foreign exchange. Represented at the occasion by CBN Deputy Governor, Corporate
Services Directorate, Mr. Edward Adamu, the CBN governor said the country spends about $2 billion annually importing 5.2 metric tonnes of the commodity to meet local demand. Continued on page 10
Senate in a Resolution, Condemns Invasion of Justice Odili's Home... Page 5 Wednesday 10 November, 2021 Vol 26. No 9711. Price: N250
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N'Assembly Okays Electronic Transmission of Results, Direct Primary Expresses optimism that Buhari will sign bill into law PDP kicks, says no party has right to impose its processes on another huks Okocha, Adedayo Akinwale and Emameh Gabriel in Abuja The National Assembly has adopted
the electronic transmission of election results in line with the position of the Independent National Electoral Commission (INEC).
Similarly, the legislative body also resolved that political parties should adopt direct primary as mode of electing their candidates for elective
offices. The adoption of direct primary option, even though has not gone down well with some segments of
the political class, readily reminds Nigerians of Option A4 used in the third republic. It was one of the most successful mode of
conducting both primary and the election proper in 1993 and led to Continued on page 12
After Ihiala, Soludo emerges Anambra Governor-elect I’ll never disappoint you, says winner
Total votes scored by front line parties:
43,285 PDP 53,807 APC
APGA 112,229 YPP
21,261
Total number of valid votes cast: 241,523 Total number of rejected votes: 8,108 Total votes cast in the election: 249,631 Nseobong Okon-Ekong, Chuks Okocha, Onyebuchi Ezigbo and David-Chyddy Eleke Candidate of the All Progressives Grand Alliance (APGA) and former Governor of Central Bank of Nigeria (CBN), Professor Chukwuma Soludo, has emerged Anambra State governor-elect, after winning
yesterday’s supplementary election in Ihiala Local Government Area of the state with 8,283 votes. Thus, overall, Soludo won 19 out of the 21 local governments in the state and polled a total of 112,229 votes to defeat his closest rival and candidate of the Peoples Continued on page 12
Prof Charles Soludo
Lagos Tops Chart as States Raked in N849.12bn IGR in First Half... Page 8
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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580
MOU SIGNING FOR OSUN OSOGBO SACRED GROVE... L-R: Director General, National Commission for Museums and Monuments, Professor Abba Isa Tijani; U.S. Ambassador to Nigeria, Ambassador Mary Beth Leonard; with CyArk Director of Conservation Programs, Kacey Hardick, during the MOU signing ceremony for the digital documentation, training and conservation planning for the Osun Osogbo Sacred Grove in Lagos... recently
L-R: Founder, Nike Art Gallery, Chief Nike Davies-Okundaye; U.S. Ambassador to Nigeria, Ambassador Mary Beth Leonard; Co-Chair of the Management Committee Adunni Olorisha Trust, Robin Campbell; with U.S. Consul General, Claire Pierangelo, during the MOU Signing Ceremony for the digital documentation, training and conservation planning for the Osun Osogbo Sacred Grove in Lagos... recently
Senate, in a Resolution, Condemns Invasion of Justice Odili's Home Wants IG to make outcome of investigation public Emameh Gabriel in Abuja The upper chamber of the National Assembly yesterday condemned the invasion of the Abuja residence of Supreme Court Justice, Mary Peter-Odili, by security operatives. The Senate, which urged the Inspector-General of Police, Usman Alkali Baba, to make public, all findings of investigation into the matter, commended him for making arrests and constituting a panel to investigate the raid on the Odili’s jurist residence. The resolutions followed a point of order raised by Senator Betty Apiafi, during plenary which came under order 42 and 52 of the Senate Standing Rules, to move a motion on the “Urgent Need to Investigate the Invasion of Justice Mrs. Odili’s Residence by Security Agents.” Leading debate on the motion, Apiafi noted that on October 29, 2021, security operatives invaded the home of the Supreme Court Judge, adding that Justice Odili is the second most senior judicial officer in Nigeria. She recalled that a joint panel recovery unit of the Ministry of Justice, comprising of the Economic and Financial Crimes Commission, the Nigerian Police and the Ministry of Justice, purportedly sought for a search warrant from an FCT Magistrate after a so called whistleblower claimed to have observed illegal activities allegedly going on in a house at Imo street, Maitama. According to the ranking Senator, the incident, brings back to mind the similar invasion of homes of some senior Judicial Officers, including Chief Judges of the Supreme Court, and Judges of the Federal High Court in Abuja and other parts of the country in October 2016, which was widely condemned. “Further worried that the home of such a highly revered judicial officer could be raised in such a manner by security agents. “The Senate is disturbed that eleven days after the incident, though the Inspector General of Police claims some arrests have been made and investigations are still ongoing, even though the details of such arrest have not been made public. Contributing to the motion, Sena-
tor Michael Opeyemi Bamidele, said no member of the upper chamber “was at ease hearing the news of what happened.” He added that the motion presented by Senator Apiafi, represents the collective desire of members of the National Assembly in ensuring that the government takes appropriate steps to bring to book all those found culpable. According to him, doing so would send a clear signal on the
need to respect the sanctity of the Judiciary and to also protect Judicial Officers in Nigeria, whose rights under the law must be protected. On his part, Senator George Thompson Sekibo (PDP, Rivers East), recalled that the Port Harcourt residence of Justice Odili was invaded a couple of months ago. He said: “Several reasons were given why thugs invaded the house. I don’t want to mention
the reasons, so it does not bring in controversy. “Recently, as the motion said, the house in Abuja was also invaded. And after a struggle, the security agents that invaded the place left the residence. “They claimed to have brought a warrant from a magistrate court in Abuja. “They claimed the Minister of Justice was aware of it. There are several claims.
“The Minister of Justice has denied and dissociated himself from that, the Chairman of EFCC has also done that. “And I’ve read statements by the Inspector General of Police that he has carried some arrests and that they are investigating the matter. “My problem is this, oftentimes, things happen and then police investigates and, in most cases, we don’t get the result of investigation.
“I pray that this investigation comes to limelight.” Accordingly, the Senate in its resolutions condemned the invasion of the home of the second and most senior judicial officer in Nigeria, Justice Odili.” He also commended the Inspector General of Police for the arrests already made and investigation panel he has instituted and further urged him to, "make public the outcome of investigations.”
FG Moves to Accelerate Open Disclosure of Nigeria’s Oil, Gas Assets' Ownership Minister recalls how operators frustrated efforts to curb industry opacity Upstream regulator to ensure full enforcement of new scheme Emmanuel Addeh in Abuja The federal government yesterday officially launched the Opening Extractives Programme (OEP), a global five-year scheme to unveil the real owners of assets in Nigeria’s oil, gas and mining sectors. To be jointly implemented by the Extractive Industries Transparency Initiative (EITI) and Open Ownership, the initiative was introduced to accelerate progress of beneficial ownership transparency in selected resource-rich countries. The government said the programme was part of the ongoing reforms in the extractive industries. The Minister of Finance, Budget, and National Planning, Dr. Zainab Ahmed, who delivered the keynote during the event organised by the Extractive Industries Transparency Initiative (NEITI) in Abuja, said it would help stem corruption and money laundering in the sectors. Represented by the Minister of State for Budget and National Planning, Mr. Clem Agba, Ahmed stated that despite several roadblocks erected by companies operating in the sector in the past, the federal government had continued to push for more transparency in the industry. Ahmed explained that having been selected as one of the pilot countries for beneficial ownership,
NEITI at the time developed the first set of templates used to gather information and data on who the real owners of Nigeria's extractive assets were, but met with brickwalls at every turn. “It was a completely new area of work for NEITI which very early in the day identified BO disclosure as a game changer and pushed the boundaries of transparency and accountability in our extractive industries. “By the time we were conducting the oil and gas audit, we requested companies to disclose their real owners. As expected, we were confronted with numerous challenges placed by some of the companies. “There were delays in responses and in some instances, non-compliance to the beneficial ownership template by some of the affected companies. In other instances, some of the companies refused outright to fill the NEITI audit templates specifically designed for BO reporting,” she recalled. She stated that other challenges included the fact that companies never updated their information, as there were discrepancies between beneficial owners' data and the one provided by the Corporate Affairs Commission (CAC), stressing that the companies saw the exercise as a form of witch-hunt. "We were also aware that some
politically exposed persons and senior government officials used surrogates to front for themselves and so it was difficult to track and most importantly there were no statutory obligation or law that enabled the process," she added. However, Ahmed stressed that the situation was changing with the President Muhammadu Buhari’s government as a result of its commitment to the open government system, including opening a register of all beneficial owners of oil companies operating in Nigeria, signing of open government partnership and deployment of open data instruments. With the launch of the programme, she stated that Nigeria has now fully institutionalised beneficial ownership reporting, thus moving away from the experimental stage and providing for sanctions for defaulters. The Executive Secretary, NEITI, Dr. Ogbonnaya Orji, in his remarks, stressed that the programme was a global initiative to support national governments to deepen implementation of beneficial ownership transparency, saying that though its execution may be difficult, it was doable. According to him, secrecy in corporate ownership of assets in the extractive industries remained a clear danger to countries everywhere in the world. "It creates a real and present
danger to our collective development aspirations, especially in all developing countries. But what is most gratifying is that governments in developed and developing nations are coming together to strategise on how best to lift the veil of secrecy over the ownership of extractive assets in most of the resource-rich countries," he noted. Orji added that anonymous companies remained a major obstacle to fighting money laundering and corruption as they enable political actors carry out their criminal acts thereby preventing Nigeria from getting the full benefits of its natural resources. He stated that the discussions had become even more important, given the country's history in the fight against corruption, insecurity, terrorism financing, money laundering and illicit financial flows which have become the bane of the society. The executive secretary who mentioned the interconnectedness of crimes worldwide explained that the new Petroleum Industry Act (PIA) now mandates the upstream industry regulator to disclose beneficial owners of licences, leases and others. "We live in an interconnected world where anonymous companies have tentacles across the globe. Opacity in any part of the globe is a threat to openness all over the world and regardless of
our location, we are all at risk of the dangers posed by this anonymity," he added. According to him, the revelations in the Panama papers and most recently the Pandora Papers, clearly show that the whole world must work together to ensure that the menace of secrecy in ownership of corporate institutions is halted. He restated that in the last eight months various Memoranda of Association (MoUs) had been entered into with the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU), adding that the data collection process of NEITI was being fully automated. In his remarks, the Chief Executive Officer, Nigeria Upstream Petroleum Regulatory Commission (NUPRC) Mr. Gbenga Komolafe, said signing of the Petroleum Industry Act (PIA) had brought about the much-desired assurances and trust for investors in the Nigerian oil and gas industry. He noted that the establishment of the NUPRC represents a major milestone in the reform and operationalisation in the oil and gas industry, given the decade-long journey to the enactment of the PIA. Continued on page 12
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APC TRIPARTITE CONSULTATIVE COMMITTEE MEETING... L-R: Speaker of the House of Representatives, Femi Gbajabiamila; President of the Senate, Ahmad Lawan; Vice President Yemi Osinbajo, SAN; Chairman APC Caretaker Extraordinary Convention Planning Committee and Yobe state Governor, Mallam Mai Mala Buni and Ekiti State Governor and Chairman of Governors Forum, Kayode Fayemi, at an enlarged meeting of the Tripartite Consultative Committee of the Executive, Legislative & APC leadership chaired by the Vice President yesterday at the Statehouse Conference Center
Lagos Tops Chart as States Raked in N849.12bn IGR in First Half
James Emejo in Abuja and Nume Ekeghe in Lagos
The 36 States of the federation including the Federal Capital Territory (FCT) generated a total of N849.12 billion as Internally Generated Revenue (IGR) in the first half of the year (H1 2021). The National Bureau of Statistics (NBS) revealed this yesterday. Lagos State generated N267.23 billion, the highest IGR among
the states, followed by the FCT with N69.07 billion and Rivers which posted N57.32 billion. The NBS, in its Half Year (H1) 2021 IGR report at state level, which was posted on its website yesterday, stated that Yobe recorded the least IGR of N4.03 billion in the period under review. According to the statistical agency, states generated N398.25 billion in the first quarter of the year (Q1 2021) and N450.86 billion in Q2 2021, indicating a growth
of 13.21 per cent. Further breakdown of the IGR by zones indicated that the South-west recorded the highest revenue collection of N385.41 billion followed by the South-south with N156.17 billion while the North-east generated the least IGR of N42.91 billion. Revenue from Pay As You Earn (PAYE) accounted for the highest IGR receipts of N488.10 billion while revenue from MDAs amounted to N173.55 billion.
NCC Reports New Malware Attacking Android Devices Emma Okonji The Nigerian Communications Commission (NCC) yesterday informed telecom consumers and members of the public of a new Android malware discovery that is attacking Android phones. According to the NCC, the malware, named ‘AbstractEmu’, could gain access to smartphones, take complete control of infected smartphones and silently modify device settings while simultaneously taking steps to evade detection. The NCC in a statement signed by its Director, Public Affairs, Dr. Ikechukwu Adinde, disclosed that the discovery was announced recently by the Nigerian Computer Emergency Response Team (ngCERT), the national agency established by the federal government to manage risks of cyber threats in the Nigeria, which also coordinates incident response and mitigation strategies to proactively prevent cyber-attacks against Nigeria. The statement added that AbstractEmu had been found to be distributed via Google Play Store and third-party stores such as the Amazon Appstore and the Samsung Galaxy Store, as well as other lesser-known marketplaces like Aptoide and APKPure. The advisory stated that a total of 19 Android applications that posed as utility apps and system tools like password managers, money managers, app launchers, and data saving apps had been reported to contain the rooting functionality of the malware. The apps are said to have
been prominently distributed via third-party stores such as the Amazon Appstore and the Samsung Galaxy Store, as well as other lesser-known marketplaces like Aptoide and APKPure. The apps include All Passwords, Anti-ads Browser, Data Saver, Lite Launcher, My Phone, Night Light and Phone Plus, among others. According to the report, rooting malware although rare, is dangerous. By using the rooting process to gain privileged access to the Android operating system, the threat actor could silently grant itself dangerous permissions or install additional malware – steps that would normally require user interaction. Elevated privileges also give the malware access to other apps' sensitive data, something not possible under normal circumstances. The ngCERT advisory also captured the consequences of making their devices susceptible to AbstractEmu attack. Once installed, the attack chain is designed to leverage one of five exploits for older Android security flaws that would allow it to gain root permissions. It also takes over the device, installs additional malware, extracts sensitive data, and transmits to a remote attack-controlled server. According to the statement, the malware could modify the phone settings to give app ability to reset the device password, or lock the device, through device admin; draw over other windows; install other packages; access accessibility services; ignore battery optimisation; monitor notifications; capture
screenshots; record device screen; disable Google Play Protect; as well as modify permissions that grant access to contacts, call logs, Short Messaging Service (SMS), Geographic Positioning System (GPS), camera, and microphone. The ngCERT also asserts in the advisory that, while the malicious apps were removed from Google Play Store, the other app stores are likely distributing them. The NCC therefore reiterated a two-fold ngCERT advisory in order to mitigate the risks. The two-fold advisory include: Firstly, users should be wary of installing unknown or unusual apps, and look out for different behaviours as they use their phones. Secondly, reset your phone to factory settings when there is suspicion of unusual behaviours in your phone.
In addition, road tax contributed N16.75 billion to total IGR in H1. Lagos generated N152. 66 billion from PAYE, N14.30 billion
from direct assessment, N6.98 billion from road tax, N52 billion from other taxes and N41.26 billion from MDAs. Also, Rivers generated N47.60
billion from PAYE, N335.66 million from Direct Assessment, N22.72 million from road tax, N4.87 billion from other taxes and N4.48 billion from MDAs.
Buhari Arrives France for Four-day Official Visit Meets with French President today on security, economy To attend Paris peace forum with other world leaders Deji Elumoye in Paris, France President Muhammadu Buhari has arrived Paris, French capital, for a one-day official visit as guest of President Emmanuel Macron at Palais de l'Élysée today, after which he would along with other world leaders attend a three-day Peace summit holding also in Paris. During the state visit, the president is expected to discuss bilateral relations bordering on security, health and economy between Nigeria and France with President Macron. The president’s plane, Nigeria Air Force 1, touched down at the Le Bourget Airport yesterday, at about 2.45pm and was received by Nigerian Ambassador to France, Kayode Laro and some Nigerian Ministers including Foreign Affairs Minister, Geoffrey Onyeama. The president thereafter left the airport for Four Seasons Hotel in Central Paris, where he is expected to stay for the duration of his visit. Today, President Buhari would meet with his French counterpart to discuss issues of mutual inter-
est for both countries, particularly on strengthening economic ties, improving partnership on security, and working jointly on education, health and halting the threats of COVID-19 to the global economy. After the state visit, the President would also in Paris, attend a threeday Paris Peace Forum (PPF), from Thursday, November 11- Saturday, November 13, 2021. He is expected to join world leaders, heads of international organisations, leaders of civil society and the private sector at Grande Halle de La Villette to strategise on better governance for a world of peace, with plenaries, master classes and workshops. The president is scheduled to make a remark at the event to share the peculiarity of the Nigerian experience with the world, and efforts undertaken so far for peace. Other speakers at the event include President Macron, Vice President Kamala Harris of United States, and Sheikh Hasina, Prime Minister of the People’s Republic of Bangladesh.
This year, the leaders would review 80 projects designed to improve peace across the globe and ensure more harmonious living like reforming capitalism for more impact on global economy, responding to the urgency of climate change, fake news and the challenge it poses on journalism and cyber security. The first edition of the Paris Peace Forum took place from November 11 -13, 2018, as part of the Armistice Day centenary commemorations, and was attended by over 110 foreign delegates, including 54 heads of state and government, showcasing 120 global governance projects and welcomed 6000 individuals over the 3 days. Among the attendees were Russian President Vladimir Putin, Canadian Prime Minister Justin Trudeau and 2018 Nobel Peace Prize laureate Nadia Murad. German Chancellor Angela Merkel and UN Secretary-General António Guterres joined President Emmanuel Macron in each making an opening remark at the beginning of the Forum.
US Supports Preservation of Osun-Osogbo Sacred Grove Michael Olugbode in Abuja United States has moved to preserved one of the Nigeria’s sacred historic cultural sites, the Osun Osogbo Sacred Grove by donating the Ambassadors Fund for Cultural Preservation (AFCP). The United States which is celebrating 20 years of the AFCP, has funded such projects across Nigeria with over a million dollars. Speaking at the signing of the memorandum of understanding to launch the new Ambassador’s Fund for Cultural Preservation Grant to preserve the Busanyin Shrine within the Osun Sacred
Grove on Monday, the US Ambassador to Nigeria, Mary Beth Leonard, said the occasion demonstrated the United States' commitment to partner with Nigeria to preserve its rich history and culture. She explained that the Ambassador’s Fund for Cultural Preservation (or the AFCP) grants programme was administered through annual competition by the U.S. Department of State’s Bureau of Educational and Cultural Affairs, noting that the grants support the preservation of major ancient archaeological sites, historic buildings and monuments,
and major museum collections that are accessible to members of the public and protected by law in a host country. The Ambassador disclosed that through the AFCP, the U.S Mission has partnered with the Nigerian government to preserve cultural landmarks and sites for over a decade, adding that: “As we celebrate the 20th anniversary of the Ambassador’s Fund for Cultural Preservation, the United States is proud to say that we have funded projects worth over a million dollars across Nigeria.” Leonard said prior to the project, the U.S. Mission funded
the conservation of the late 14thCentury Sungbo’s Eredo (ER RAY DOE) monument, the famed system of fortifications designed to protect the ancient Ijebu (EE JAY BU) Kingdom in Southwest Nigeria. She noted that: “Starting earlier this year, the $400,000 AFCP project is using three-dimensional laser scanning technology to generate a precise topographic map covering a thousand square kilometers of the area occupied by the monument. This 3-D map will be the most detailed map of any archaeological/architectural feature in Nigeria.”
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INTERNATIONAL CONFERENCE ON FACTORING SERVICES... L-R: Managing Director, NEXIM Bank, Mr. Abba Bello; Executive Director, Nigeria Export Promotion Council (NEPC), Mr. Segun Awolowo; Director, Commodities Export Dept / Representative of the Minister of Trade and Investment, Mr. PHOTO: KINGSLEY ADEBOYE Suleiman Adebayo, and Secretary General, Capital Finance International, Mr. Peter Mulroy; during the first International conference on factoring and forfaiting Services held in Abuja…yesterday
Inefficient TRACON May Jeopardise Safety, Air Traffic Controllers Warn Chinedu Eze Air Traffic Controllers have warned that the Total Radar Coverage of Nigeria (TRACON) might soon be obsolete and could threaten safety in the airspace. TRACON therefore stressed the need for urgent action to be taken to repair and upgrade the equipment. Speaking on behalf of the Air Traffic Controllers, the President of the Nigerian Air Traffic Controllers Association (NATCA), Abayomi Agoro, noted that presently, due to lack of maintenance, TRACON has become deficient in its communications and surveillance functions and therefore demand urgent rehabilitation before it breaks down and jeopardise flight operations in Nigeria. The function of the radar is to provide communication, determine the location, the bearing and range of the aircraft in the airspace and air traffic controllers monitor all the aircraft on the radar screen to ensure the safety of aircraft and guide them to take off and landing. Without the radar, controllers increase separation standards between aircraft in the airspace, which may give rise to congestion, increased risk in the mid-air, as the controllers cannot visualise the movement of the aircraft. The NATCA boss disclosed that TRACON has no standby system in the last two years, which means if the current functional system breaks down, it would not be switched to a standby system. “The TRACON has been on one leg in the last two years (no standby system). NAMA management has not bought spares to replace broken down ones in the last two years. In the last five years NAMA has not renewed the maintenance contract it has with Thales of France, which built the system. “The management discontinued the contract, saying it has no money. So for these years there have been no software upgrade. So the radar is on one leg, it is not effectively providing surveillance in the primary and secondary radar,” the air controller noted, adding, “We have noticed a lot of deficiencies but unfortunately the engineers handling it will not talk about it. Obviously the equipment is ageing so it needs total overhaul, but if it continues to degenerate it cannot
provide safety services anymore.” Giving details of the problem with the equipment, senior air traffic technical personnel and Vice President of NATCA, Dominic Abbah, told THISDAY that there are two major problems with TRACON, which have to do with communication and radar. “We heard that they are trying to upgrade it but the problem persists. It is not that there is total loss in communication but it is not seamless as it ought to be, as recommended by the International Civil Aviation Organisation (ICAO). When pilots call you while entering the boundary of your airspace it has to be clear. “The communication has to be unbroken, reliable, consistent and continuous transmission. It is expected that at every point communication should be clear. If one goes under, another should immediately overlap, but we do not have back up. This is not acceptable. “Another problem we have with TRACON is the perennial issue, which is that the radar system does not have back-up. So if anything happens to the system now we go back to procedural system of control, which is fraught with danger and relies heavily on communication, which is not currently efficient. Communication plays a major role in air traffic control,” he told THISDAY. Abba went further to advise the Nigerian Airspace Management Authority (NAMA) to revive the old high frequency (HF) as a back-up instead of discarding it, noting that in Accra, Ghana the airspace management still uses HF to cover the littoral areas, even across Nigeria. “When the mainstream communication fails, the back-up or the second back-up comes up. The HF may not be as effective as the VHF (Very High Omidirectional Radio Range), but it covers longer distance and it consumes less power. So instead of abolishing it we can use it as back-up,” Abba said. THISDAY findings revealed that when the management of NAMA cancelled the contract about five years ago, it did not look at the details of the contract, which included unlimited supply of spares as long as the contract subsisted and technology transfer, as NAMA staff were being trained
by Thales engineers then. But with the severance of the contract, it became very difficult to access spares, which is also sourced from the company. So the cost of the spares has more than doubled and the money is paid upfront and when paid, it would take about two weeks to get the spares to Nigeria. An engineer in the agency in support of NATCA’s position told THISDAY that: “About five years ago they cancelled the maintenance contract with Thales. When the contract was on, there was technology transfer because they were training our staff and the maintenance contract included provision of spares. So when the contract was not renewed, it became difficult to acquire spares for the system. “We cannot replace the modules or the software and it costs so much to get the spares. So the company invariably gets all the monies from you.
“It was the current Minister of Aviation, Hadi Sirika who said that it was not good that the contract was severed and there are moves to renew it. Without the contract no training and we cannot claim to have learnt everything. Maintenance is like technology transfer. “Things have gone so bad. A lot of the modules are not working. The system is no more performing optimally due to lack of spares. When we have maintenance contract with Thales, they had one of their staff here in Nigeria. When that contract expired, management said it would not renew it due to lack of money,” the official told THISDAY. Besides providing surveillance services, the controllers use the radar to guide aircraft away from thunderstorm and warns pilots about bad weather; although aircraft have their in-built radar, but the controllers directs the pilot, as they see the intensity of the
convective weather, a source told THISDAY. However, the Managing Director of NAMA, Captain Fola Akinkuotu told THISDAY that all the problems identified with the radar would soon be resolved, saying the agency has concluded plans to renew the maintenance contract with Thales of France. “We have improved relationship with Thales. We are going to carry out an overhaul of TRACON. It is like the D-check in aircraft maintenance. TRACON is not one leg, as many air claiming because it has both primary and secondary radar. “We want to bring back the TRACON to new standards of surveillance. Everything is going to be done new. The money in the budget for TRACON is for the upgrade and maintenance of the system. Some places in the airspace not presently captured by the radar will be captured when the complete overhaul
is completed,” Akinkuotu told THISDAY. Akinkuotu also assured that the ATS Message Handling System (AMHS) would commence full operations in the next two weeks to evolve the digital system with a wider band, adding that with this, there would be no limitation of messages to be transmitted with high speed and adequate feedback as against the AFTN (Aeronautical Fixed Telecommunication Network) with its channel check transmission. “This will give clearer messages as the communicators’ job get easier,” he said. The Federal Executive Council (FEC) recently approved about N28 billion for the award of contract for direct procurement, installation and commissioning of the total radar coverage modernisation. The contract, which was in two parts had a total is 40 million euros, which is equivalent to N28, 039,080,799.40.
CBN UNVEILS STRATEGY TO CUT WHEAT IMPORTATION BY 60% IN TWO YEARS He said the programme was expected to add about 2,000 metric tons of seeds to the nation's national seed stock and potentially add 750,000 metric tons of wheat to national output annually through rain-fed wheat cultivation in Plateau, Mambila Plateau and Obudu Plateau in the short-term. Emefiele, however, pointed out that wheat remained the third most widely consumed grain in the country after maize and rice. He said the country only produces about one per cent (63,000 metric tons) of the 5-6 million metric tons of the commodity consumed annually in Nigeria. He said the enormous demandsupply gap was bridged with over $2 billion spent annually on wheat importation, making wheat the second highest contributor to the country’s food import bill. He said given the high growth rate of the country’s population and the demographic structure, the demand for wheat was projected to continue to rise, thereby intensifying pressure on the country’s reserves unless a decisive step is taken to grow the commodity locally. Emefiele, also pointed out that over the years, the availability of low-yielding seeds variety locally and poor agronomic practices had hampered successful cultivation of
wheat in the country, leading to low productivity as well as making wheat production unappealing to farmers and unattractive for private sector investment. He added that the CBN, in order to change the narrative and leverage domestic production to bridge the demand-supply gap in the country, decided to add wheat to the list of focal commodities to be supported under the bank’s agricultural intervention programmes. He stressed that improved seeds varieties constituted the bedrock of any crop production process, adding that the country had made some progress with regards to acquisition of high yielding varieties from Mexico with potential average yield per hectare of 5-7 metric tons as against a range of 0.8-1.8 metric tons yield per hectare of those varieties previously cultivated. Emefiele said the two-pronged approach of seed multiplication and grains production already adopted is expected to sustain the propagation of seeds and guarantee availability of highyielding seeds to farmers. He said the CBN's strategy for the wheat value chain involved ensuring availability of highyield seeds by financing seed multiplication and establishment of seed ripple centres.
Other are expanding land under cultivation for wheat to a capacity that could meet total national demand through association and collaboration with relevant federal agencies and state governments. He said the strategy was to also pursue strategic collaboration with key stakeholders in the wheat value chain for sustained local production. Emefiele, however, said food security remained a major delivery for governments across the globe, hence the bank was supporting the efforts of the federal government by providing affordable and accessible financing options to drive domestic food production. He said the ABP remained a game changer in financing smallholder farmers through innovative funding models centred around building an effective agro-ecosystem, hinged on the value chain approach. He said the ABP had recorded successes in supporting smallholder farmers to increase the cultivation of different commodities across the 36 States of the federation including the Federal Capital Territory (FCT). The governor said through the programme, N788.035 billion had been disbursed to about four million farmers through 23 Participating Financial Institutions
(PFI). He said so far, 4.796 million hectares of farmlands had been cultivated under the programme covering 21 commodities. He said the flag-off of the wheat programme was auspicious in a lot of ways as it heralds the commencement of the Brown Revolution Journey, which is the CBN's mantra for repositioning wheat production in the country. He said it was also the first major wet season wheat production in the country with about 700 hectares put under cultivation in Kwall, Kassa, Jol, Kafi Abu and Sop in Jos. He said: "The CBN will not rest on its oars as we continue to work with our partners, Lake Chad Research Institute (LCRI), to expand the frontiers of wheat production in Nigeria to areas like northern Oyo, Kogi and Kwara states. "The wheat fields you are seeing here today are historic and further underscore the enormous potentials in our agricultural landscape. "We are hopeful that with the right technology and agronomic practices, we can change the narratives and develop two wheat cropping cycles to support an aggressive drive to bridge the wheat demand-supply gap in Nigeria."
WEDNESDAY NOVEMBER 10, 2021 • T H I S D AY
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WEDNESDAY, ˜ ͺͺ ˾ T H I S D AY
TWELVE N'ASSEMBLY OKAYS ELECTRONIC TRANSMISSION OF RESULTS, DIRECT PRIMARY freest and most credible election in the nation's history. This was as the Senate and House of Representatives yesterday respectively passed the harmonised version of the Electoral Act (Amendment) Bill, 2021. The passage followed the consideration of the report of the Conference Committee of the Senate and House of Representatives on the bill. The Senate President, Ahmad Lawan, had last month constituted a seven-man conference committee to meet with their counterparts in the House to harmonise the differences in the Senate and House versions of the bill. The Senate Leader, Yahaya Abdullahi, who chaired the Conference Committee in the Senate, presented the report on the harmonised version of the Electoral Act (Amendment) Bill, 2021. In his presentation, he said the bill when passed by the National Assembly, and subsequently assented into law by the President, would regulate the conduct of Federal, State and Area Councils in the Federal Capital Territory Elections. He disclosed that the Conference Committee at its retreat had considered and adopted twenty-one clauses in the bill. “It is imperative to point out that with the successful harmonisation of this bill, a process that started from the 7th Assembly through to the 8th National Assembly has now been completed by the 9th National Assembly. “The bill is now ready for passage and Presidential assent. “I am happy to state that most of what we call “citizens top priorities” on the Electoral Act Amendment, including the use of technology have been addressed by the Electoral Bill, 2021”, the Senate Leader said. The chamber on October 13, 2021, re-amended certain aspects of the Electoral Act (Amendment) Bill contained in Clauses 43, 52, 63 and 87, respectively. The re-amendment to the clauses was duly carried out amid a motion for re-committal sponsored by Senator Yahaya Abdullahi. Accordingly, while adopting the conference committee report on Tuesday, the Senate approved
the re-amended clauses to provide for direct primaries for aspirants to all elective positions. It also empowered the Independent National Electoral Commission (INEC) under Clause 63 to determine the procedure for voting and transmission of results during an election. At the House, the report was approved at plenary yesterday, after it was laid by the Co-Chairman of the Conference committee, Hon. Akeem Adeyemi. However, following the laying of the report, the Minority Leader, Hon. Ndudi Elumelu raised a Point of Order under Privilege, saying members should be given copies to go through whether there were differences or not. He was of the opinion that
had even been recommitted in the Senate. Gbajabiamila added, "We must all agree that the Electoral Act is something that we need to wave running behind right now. Nigerians have been asking for this day since June. "You know that this House is adjoining till Tuesday because we need about two extra days for the committee's to complete their work on the budget. "So when you want to push this to next week - to the week after, we don't have that luxury of time. The reason why the Electoral Act was not amended last time was because we thought it was too late in the day and we shouldn't be shifting the goalposts when it's almost time for election.
"We have primaries coming in the summer of next year. I think, you know, time is of the essence and particularly because the issues are so clear, discussion of yours is a bit dilatory." Meanwhile, the Peoples Democratic Party (PDP) has said it received the news of the passage of the harmonised Electoral Act Amendment Bill, which among other things, provided for direct primaries for nomination of candidates for elections by political parties with shock. It further stated that no political party has the right to impose it's processes on another, alleging that it was what the All Progressives Congress (APC) controlled National Assembly intends to do with the amendment.
In a statement by the National Publicity Secretary, Kola Ologbondiyan, the PDP stated: "Our party holds that it is the inalienable right of each political party, within the context of our constitutional democracy to decide its form of internal democratic practices including the processes of nominating its candidates for elections at any level.” Ologbondiyan further stated that the PDP also believes that no political party should force its own processes on any other political party as the direct primaries amendment, “a practice of the APC sought to achieve.” The PDP stated that it shall within the next 48 hours, make its final decision with respect to the amendment known.
and YPP, 1327. In Awka North LGA: APC, 755; APGA,1908; PDP, 840 and YPP, 381. In Anambra West LGA: APC, 1233; APGA, 1918; PDP, 1401 and YPP, 357. Meanwhile, the last leg of voting in the governorship election, held amid mixed occurrences. The election had been suspended in Ihiala by the Independent National Electoral Commission ((INEC) on Saturday, when the rest of the state went to the poll. This followed reports of irregularities, which caused INEC to declare the Anambra State governorship election inconclusive, and postpone voting in the local government area, with 323 Polling Units, to today. The election process was, however, threatened, when gunmen suspected to be operatives of the Eastern Security Network (ESN), said to be the armed wing of the Indigenous People of Biafra (IPOB), engaged the joint security operatives in a gun battle in Ihiala. It was gathered that the gunmen sought to enter Ihiala through Imo State, as Mbosi and Orsumoghu, where the attack happened, were border towns with communities in Imo State. IPOB Attempt to Scuttle the Vote in Ihiala A THISDAY reporter, who covered the supplementary governorship election in Ihiala, was prevented from entering the area by security operatives, who turned back journalists at Mbosi/Orsumoghu junction for their safety. After a brief search, they asked the journalists to return, on the insistence that a gun battle was on, ahead. The joint security operatives comprised mobile policemen, Army and Navy personnel, and others security agencies. Two unidentified policemen and a soldier, told the THISDAY reporter, "You have to go back for your own good. For three hours now, we have been exchanging fire with your IPOB brothers. Our men are in the bush now, and it will be risky for you to take this route." When contacted, the Anambra State Commissioner of Police, Mr. Echeng Eworo, could not confirm the development, but merely asked the reporter to call him back later. THISDAY also noticed a team of security men loaded into 10 Toyota Hilux vans, heading to Mbosi/Orsumoghu junction as reinforcement. The police in Anambra State have denied knowledge of the killing of anybody during the supplementary election in Ihiala. This was after claims on the social media that soldiers guarding the distribution/Collation Centre shot dead a yet-to-be-identified man. When THISDAY visited the local government headquarters, those interviewed denied knowledge of the incident. Even when contacted by telephone, the Zone 13 Police Headquarters Public Relations Officer, Nkeiru Nwode, said there was nothing like that before the police. Nwode said, "We don’t have such report and I don't think something like that happened." But the voting process was largely peaceful, as in the main election. The candidate of the Social Democratic Party (SDP), Mr. Obinna Uzor, a lawyer, voted in Umunnamehi Primary School, Ihiala Ward One. Uzor said the
Bimodal Voter Accreditation System, (BVAS) in the area was slow, and that caused a lot of delay. He stated, "It is only VIPs that when they cannot be captured, they continue to wait to ensure that they eventually get captured and vote. But the locals among us, once they cannot be captured, they just leave. We love technology, but INEC should fine-tune it. This can affect the outcome of the process." In Ihiala town, INEC officials depended on facials to accredit voters, using the BVAS. An INEC official, who spoke to journalists in Eziani Primary school, Ihiala ward one, polling unit 10, on condition of anonymity, said, "The thumbprint is not functioning, but the facial verification is what we are using to issue out accreditation." The INEC technical officer, however, said it took between 30 seconds and one minute to accredit one voter, and the process progressed speedily. Deputy Speaker of Anambra State House of Assembly, Hon Pascal Agbodike. Agbodike commended the functioning of the BVAS machine for its swiftness in accrediting voters. Agbodike, who spoke to journalists after voting at Mbosi Girls Secondary School, said the BVAS machine functioned very smoothly. He said, "I have voted, and I have also observed voting in my ward, Mbosi ward 20, and I can say that the working of the BVAS is perfect for now. Things are going well and the BVAS is working, from what I can attest for now. "Anambra people are largely peaceful people, and you can see that everything is going on well. Whether election or not, our people are their brothers' keepers. Whatever you may have experienced is just because of politics. After the election, we will all go back to being brothers as we have always been.” A visit to Mbosi community, ward 20, showed that voting started early. A technical officer with INEC, who preferred anonymity, said the voting went on well. The officer said, "We started voting about 12pm, and there is satisfactory level of turnout. The Bimodal Voter Accreditation System (BVAS) machine is working perfectly today. We updated our software and today, it is not taking up to one minute to accredit one voter." In a related development, security operatives also barred Umeh, from entering Ihiala, during the election. There had been restriction of movement in and out of Ihiala, with stern looking military operatives manning the boarders of the community. Umeh, who hails from Aguluzoigbo in Anaocha Local Government Area, was said to have entered Ihiala, but when he attempted to enter the local government secretariat, where materials for the election were being distributed, security operatives barred him. Umeh, a state agent of the party, who arrived Ihiala secretariat around 10:30am in company with other party members, was turned back by the GOC, 82 Division, who said he was at the secretariat to ensure things went well. According to the GOC, the former lawmaker had no business being at the secretariat as he was a state agent.
AFTER IHIALA, SOLUDO EMERGES ANAMBRA GOVERNOR-ELECT Democratic Party (PDP), Valentine Ozigbo, with 53,807 votes. The All Progressives Congress (APC) candidate, Andy Uba, came a distant third with 43,285 votes, while the Young Progressive Party’s candidate, Ifeanyi Ubah, scored 21, 261 votes. Based on this, the Returning Officer and Vice Chancellor of the University of Calabar, Professor Florence Obi, pronounced Soludo winner of the election, having satisfied the constitutional requirements, and after three days of waiting to conclude the exercise. Obi, who announced the result at about 1.50 this morning after adding the figures garnered by each of the political parties in the supplementary poll to those already declared on Sunday from the 20 local government areas, said the total number of valid votes in the election was241,523; rejected votes stood at 8,108, while the total vote cast was 249,631. "This is the moment we have been waiting for. I want to use this opportunity to thank the chairman of INEC and his team for this opportunity given to me and my university to partake in this Anambra 2021. I thank the service chiefs, the people of Anambra State. We remain very grateful. "Allow me to read this form EC8E, which I have completed. I Prof Florence Banku Obi, hereby certify that I'm the returning officer of the Anambra governorship election held on 6 and 9 of November. “That Charles Chukwuma Soludo
FG MOVES TO ACCELERATE OPEN DISCLOSURE OF NIGERIA’S OIL, GAS ASSETS OWNERSHIP While applauding NEITI’s efforts in the implementation of global standards for the promotion of an open and accountable system in the management of extractive resources across the world, he explained that the impact of the organisation’s role in Nigeria and globally had been very significant. “The NUPRC and NEITI share a common vision of transparency and accountability in Nigeria’s energy sector. The NUPRC is fully committed to work with NEITI to deepen Nigeria’s implementation of contract transparency and beneficial ownership disclosures in the country in a bid to ensure that the revenues from natural resource assets support national development and help reduce poverty. “At the NUPRC, we have implemented beneficial ownership reporting system, as it is a statutory requirement which demands full disclosure of beneficial ownership information. “To this end, the Nigerian Oil and Gas Asset Beneficial Ownership Register (NOGABOR) portal has been developed by commission’s ICT team and is live. The commission is engaging the oil and companies to ensure their mandatory compliance,” he stated. Komolafe stated that the NUPRC was committed to collaborating on maintaining information on beneficial ownership, maintain data on companies that own extractive licences as well as create a better and healthy business climate. “The results of these Is that citizens will be aware of who they are doing business with or
the House should set a date that would enable members to consider the reports, adding that it was a good judgment that the House Committee Chairman on Rules and Business, Hon. Hassan Fulata moved a motion for the suspension of the consideration of the report. Elumelu noted that he didn't see any need for the House to hastily consider the report, insisting that members should be given time to go through the report. Responding, the Speaker, Hon. Femi Gbajabiamila said it was the harmonisation committee report for the House to adopt. The Speaker insisted that everyone was aware of what the report contains, stressing that the two point of divergence in the Bill
competing against and will also encourage appropriate stakeholder engagement which is a part of Nigeria’s open government action plan. “The commission hereby assures you and all our invaluable stakeholders of a transparent, cost efficient, safe, and sustainable framework, for the management of our nation’s hydrocarbon resources, in the best interest of our country, investors and in line with global best practice,” he noted. Also, the Executive Director EITI, Mark Robinson, who attended virtually, pledged the support of the international body, stressing that the implementation will strengthen natural resource governance in the country. He noted that it would help resource-dependent nations to earn more money from their resources when information is made easily accessible. Some of those who pledged commitment to the new initiative included the Oil Producers Trade Section (OPTS) , a body of 29 major oil companies, represented by Doyin Adelabu at the event and Minister of Mines and Steel, Olamilekan Adegbite, represented by the Director, Human Resources, Mr Suleiman Kabir. Others were the Registrar, CAC, represented by Director, Compliance, Hakeem Mohammed, Chairman, NEITI Board, Olusegun Adeyemi and representatives of civil society groups. Adeyemi listed some of the challenges associated with secret ownership of companies in the sector as loss of revenue, insecurity, infrastructure deficit and erosion of public trust, which he said is difficult to recover.
of APGA, having satisfied the requirement of the law, is hereby declared the winner of the election," Prof. Obi said,” Obi said. In his acceptance speech, Soludo, charged his competitors to accept the verdict of the Anambra people, promised never to disappoint his people. “To my fellow candidates in the election, I wish to congratulate you for the gallant contest. Our people have spoken overwhelmingly and surely, that voice is the voice of God. The ultimate winner is the Anambra people. “We are all winners. I hereby extend my hands of fellowship to all of you. I need all of you to succeed. Politics aside, we are all brothers. Let’s come together for the Anambra project. There is enough room for everyone to contribute for the service of our land. I will need the guidance and contributions of everyone to succeed. “With utmost humility and gratitude to God, I accept the result of the 2021 Anambra Governorship election as declared by INEC. This reflects the supreme will of the almighty God and an overwhelming sacred mandate of the people. For 12 years since the massive clamour by the people of Anambra for us to serve them, we persevered till this divine moment. “This is a divine journey, whose time has come. To God be all the Glory and adoration. We have a very long list of persons, who God used to make this divine moment a reality. “In particular, we thank all APGA members, especially, our national leader, Willie Obiano and his wife; our national chairman, Chief Victor Oye and his wife; members of our Board of Trustees; members of our National Executive Council, state exco, etc, for availing me the opportunity to fly the APGA flag. “Many thanks to our legal team and all other stakeholders that worked tirelessly to see us through. We are grateful to the clergies, the churches, traditional rulers, labour, youths and non-indigene associations, businessmen, persons with disabilities, those in the diaspora and all our donors. “We are humbled by the massive support from stakeholders across the entire country. In particular, I thank my wife and children for their love and sacrifices. As I promised, I will work hard every day never to disappoint you. “At this moment, we must remember and will continue to remember all those who died in the course of this movement, especially, the three policemen, who were killed by unknown gunmen during our town hall meeting with youths in my ward. May God continue to grant their soul eternal rest. “This election tested the resilience and integrity of our federal institutions. Many times, there were tensions, especially as one party boasted that it must ‘take or conquer.’ This has proven that this country can achieve anything. The judiciary stood for the integrity of that institution and we salute them for standing up for justice. “We thank President Buhari and our security agencies for ensuring a level-playing field. We must particularly, commend the Chairman, management of INEC for systematically striving to bequeath a legacy of free, fair and transparent electoral system to Nigeria.”
Similarly, a former chairman of APGA, Senator Victor Umeh, while reacting to the victory, said the election was transparent, and is the best election so far held in the state. "We have again won the state, despite the fact that some people boasted that they will win the state. This is to tell them that APGA is on ground, and it is not just about boasting of winning, but doing your homework well. I urge them to concede victory to our party and the candidate, because the people made a clear choice." The Anambra governorship election was on Sunday declared inconclusive by the Independent National Electoral Commission (INEC) after voting could not hold in Ihiala, a local government area of the state, with some 148,000 registered voters, following alleged violence. This, however, was after Soludo, had surpassed the constitutional threshold and was on the cusp of victory, having cleared 18 out of the 21 local government areas in the state. But, with 18 local governments in the bag for APGA and Soludo; Nnewi North for Ifeanyi Ubah and YPP, and Ogbaru for Valentine Ozigbo and PDP, Soludo had only led Ozigbo, who turned out his closest challenger, with about 45,000 votes, when Ihiala alone had over 148,000 registered voters. The collation officer for Ihiala had, however, alleged that the election was marred by violence, a development he claimed made voting to be impossible, before it was moved to yesterday. Yet, with 18 local governments to APGA’s credit, Soludo not only crossed the threshold, he also led convincingly, making his win incontrovertible. Below is a breakdown of the results, local government by local government, capturing the four major parties of APC, APGA, PDP and YPP. In Dunukofia LGA: APC, 1991; APGA, 4124; PDP, 1680 and YPP 1360. In Awka South LGA: APC, 2595; APGA, 12,891; PDP, 5498 and YPP, 919. In Oyi LGA: APC, 2830; APGA, 6133; PDP, 2484 and YPP, 900. In Ayamelum LGA: APC, 2409; APGA, 3424; PDP, 2804 and YPP, 407. In Anaocha LGA: APC, 2085; APGA, 6911; PDP, 5108 and YPP,868. In Anambra East LGA, APC, 2034; APGA, 9747; PDP, 1380 and YPP, 559. In Idemili South LGA: APC, 1039; APGA, 2312; PDP, 2016 and YPP, 752. In Onitsha South LGA: APC, 2050; APGA, 4281; PDP, 2253 and YPP, 271. In Njikoka LGA: APC, 3216; APGA, 8803; PDP, 3409 and YPP, 924. In Nnewi North LGA: APC,1278; APGA, 3369; PDP, 1511 and YPP, 6485. In Orumba South LGA: APC, 2060; APGA,4394; PDP, 1672 and YPP, 887. In Ogbaru LGA: APC, 1178; APGA, 3051; PDP, 3445 and YPP, 484. In Onitsha North LGA: APC, 3909; APGA, 5587; PDP, 3781 and YPP, 682 and in Aguata LGA: APC, 4773; APGA, 9136; PDP, 3798 and YPP, 1070. In Orumba North LGA: PDP, 1847; APC, 2672; and APGA, 4787 and in Ihiala LGA: APC, 343; APGA, 8283; PDP, 2,485 and YPP, 344. From Idemili North LGA: APC, 2291; APGA, 5358; PDP, 2312 and YPP, 902. In Ekwusigo LGA: APC, 1237; APGA, 2570; PDP, 1857 and YPP, 727. In Nnewi South LGA: APC,1307; APGA, 3243; PDP, 2226
WEDNESDAY NOVEMBER 10, 2021 • T H I S D AY
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T H I S D AY • WEDNESDAY, NOVEMBER 10, 2021
COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
EDITORS AND LIFE BEYOND THE NEWSROOM
NIRSAL invites editors to take advantage of opportunities in the nation’s agricultural value chain, writes Omoyemi Olatunde
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he best of Nigerian editors gathered in Abuja last month for the 17th All Nigeria Editors’ Conference (ANEC). The theme was, Media in Times of Crises: Resolving Conflict, Achieving Consensus. It was all about national security including food security, energy security, among others.
The Managing Director/CEO of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhameed, was one of the resource persons. He spoke on Accessing Capital for Alternative Career Development for Editors. But it was more than speaking. It was an eye opener for Nigerian editors, some of whom are already fiddling with farming but largely on a low scale due to dearth of capital. It was therefore fitting that NIRSAL was on hand not only to encourage editors to look to agriculture for a better tomorrow but also to use their respective platforms to tell Nigerians the good news of a new lease in agribusiness under President Muhammadu Buhari. For emphasis, NIRSAL was launched in 2011 and incorporated in 2013 wholly by the Central Bank of Nigeria (CBN). It is not a direct money-lending financial institution like commercial banks but it acts as guarantor of loans. It is the unseen hand behind the agriculture revolution that has come to define the Buhari government, a revolution evidenced by the jump in the number of employments created in the agribusiness sector through a deepening of the agribusiness value chain. The statistics are in your face. By the second quarter of this year, the contribution of agriculture to GDP stood at 23.78 percent, followed by Information and Communication at 17.92%, according to the National Bureau of Statistics, NBS. Over 12 million Nigerians are today actively engaged in the agriculture value chain. The rice dunes in Kebbi, the busy rice mills in Ebonyi, Edo et al, speak of a new dawn in Nigeria’s quest to achieve food security. Add to the list, the revival in cocoa farming and export, the rubber plantations and latex production; rice, cassava, palm produce and many others including poultry that constitute a staple in Nigeria are being produced in commercial quantity with value addition in a manner never before seen. In a world roiled by climate change, insecurity, hunger and poverty, delivering and deepening the agriculture value chain is touted as the most sustainable strategy for achieving food security which will ultimately reduce poverty and ship more people out of the breadline. The World Bank, Food and Agriculture Organisation (FAO), among other relevant bodies have continued to advocate for more people to be mainstreamed into agriculture especially among developing nations. This, they argue can be achieved through structured financing that would reduce loan risks and ensure inclusivity of more players in the value chain. This is what NIRSAL is doing in Nigeria: Facilitating and de-risking loans. Under Abdulhameed, it has improved the nation’s agribusiness, making the ‘farm-to-fork’ mantra a reality. Statistics showed that NIRSAL has facilitated investment to the tune of N165.4billion; created over 590,000 direct employment; impacted over 3.5million lives; provided guidance on the establishment of Risk Sharing Facility (RSF) models for African countries under the aegis of the African Development Bank (AfDB). This is an international endorsement that the Nigerian model of agribusiness risk-sharing model is not only working but a worthy example for other African nations. On account of the roaring success of the Nigerian model, NIRSAL recently concluded the setting up of the Togo Incentive-Based Risk Sharing System for Agricultural Lending (TIRSAL) locally popular by its French acronym, MIFA. Other African nations including Ghana and
ABDULHAMEED WANTS NIGERIAN EDITORS TO TAKE ADVANTAGE OF THE INHERENT OPPORTUNITIES IN THE NATION’S AGRICULTURAL VALUE CHAIN AND NIRSAL’S AGRICULTURE/AGRIBUSINESS FINANCE FACILITATION AND DE-RISKING VALUE OFFERINGS
Benin Republic are on the queue to benefit from the Nigerian model. The success of NIRSAL points to a glorious tomorrow for Nigeria, nay Africa, in the march towards food security. Nigeria, especially, is endowed with vast arable land capable of growing an assortment of crops. But the challenge has been the lack of funding for agribusiness. This has also been the challenge of many journalists and other professionals who desire strongly to venture into agriculture on a commercial scale. But Abdulhameed successfully assuaged the anxiety of editors over availability of funds when he said that so far over N134.64 billion loans and investments had been facilitated by CRG; over 760 projects guaranteed, over N1.4 billion interest draw back paid; and N4.6 billion claims paid to date with N4.09 billion recovered. He presentation outlined the various opportunities and entry points within the value chain where editors can take advantage of and participate actively. And NIRSAL is willing to do more; he assured. For instance, he said Nigerian editors can be a part of NIRSAL’s Agro Geo-Cooperative Formation (AGC) initiative by participating in the AGC formation process. The AGC helps to dimension the agribusiness value chain from production to marketing, making it possible for players to play more than passive roles in the value chain. Benefits of the AGC initiative include: Mechanization, improved inputs, exposure to modern agricultural technologies, mentorship and monitoring, governance and positive peer pressures with concomitant peer review, secure supply for markets (quality and quantity), controlled loan repayment, among others. Simply put, editors in Nigeria can form their own cooperative for the sole purpose of accessing loans and sundry benefits that accrue from the NIRSAL initiative. It gives the editors a stronger platform for negotiation. It makes them competitive and avails them the opportunity to build production as well as marketing synergies. Abdulhameed wants Nigerian editors to take advantage of the inherent opportunities in the nation’s agricultural value chain and NIRSAL’s agriculture/agribusiness finance facilitation and de-risking value offerings. He is inviting editors to become agribusiness people, playing active roles in production, processing and marketing of agriculture produce. The invitation was handy. It came at a time Nigerian editors were pondering and tinkering with survival strategies for life after the chair; how to still live a good, productive life outside the newsroom. NIRSAL has evoked huge interest in agribusiness among Nigerians, particularly among editors. And the opportunities and focus are as diverse as the natural diversity of the nation. Opportunities abound in fruits and vegetables, hibiscus (this is beyond flower, it’s money wrapped in beautiful red petals), sesame, cashew, ginger, shea nuts (collection and processing), rice, beans, cotton (including processing to thread), livestock (poultry, beef, dairy), maize, soya, potato (sweet & Irish), aquaculture, wheat, sugar cane farming and processing.. It is a long list and it speaks to the unsearchable riches of the Nigerian soil. Those riches beckon on Nigerians, on editors, doctors, engineers, lawyers, etcetera. The strong hand of NIRSAL is outstretched to help them turn potential to produce. Abdulhameed was all smiles when he extended an open invitation to Nigerian editors, and indeed to other Nigerians. His message was: Take advantage of NIRSAL and let’s turn your dream to reality. The ball now rests invitingly in the court of editors. Olatunde, a farmer, wrote from Abuja
GOMBE: WHAT WENT WRONG? Ola Alao canvasses peace and unity for the progress of the state
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hen a dog which usually wags its tail joyfully suddenly starts barking ferociously, something is amiss. Gombe State which has enjoyed a relative and enviable peace in North-Eastern Nigeria is about to be orchestrated into a theatre of chaos. The only bride of investors and a choice investment destination in the region is beginning to witness an avoidable political shenanigan that signposts nothing but gloom. What played out in Gombe State penultimate Friday is nothing but a grandiose act of grandstanding by a habitual Machiavellian trying to return to the trenches he has mastered over time. No one should be fooled. It is very instructive to note that nothing meaningful happens outside a unity of purpose. It is a time to unite. It is also a time to join hands and move the Jewel of the Savannah upwards. This is why reasoning and sagely wisdom should be the engaging ingredients deployed on the matters at hand. Anarchy, if allowed, will narrow the developmental equilibrium presently enjoyed in Gombe State, made possible by the catalytic economic policies of Governor Inuwa Yahaya. The current embers of political flame being ignited by the fifth columnists can fester into an open conflagration which may consume this promising
state. Gombe State has been peaceful and has recorded an incremental curve in all development indices since the assumption of leadership by Inuwa Yahaya and had been adjudged as the best state in ease of doing business in Nigeria. It is perhaps one of the best states in the country in the management of diversity issues. The Yoruba residents have had almost 200 years of peaceful cohabitation, while the Ibos are already recording a third generation of settlers in the state. The Governor, Inuwa Yahaya is a Muslim, his Deputy Governor, Dr. Manassah Daniel Jatau is a Christian; such is the sweet rhythm of conviviality flowing out of the Jewel State. Gombe prides itself as a safe haven in the whole of North East Nigeria and the incumbent governor has done a lot to safeguard this status. Internally generated revenue is rising incrementally. Many are coming daily to do businesses with the state because of the peaceful and encouraging hospitality of its people. But alas! The calm narratives of the Jewel in the Savannah is about to be altered negatively unless some drastic steps are taken, more so when all sorts of security challenges are confronting virtually all states of Nigeria. Any state that enjoys a comparative peace should guard it jealously, albeit vehemently. Already some persons have been declared dead
and the dreaded Yankalare Boys are beginning to bare their fangs in a state where the Muslims and Christians enjoy equanimity uncommon in most states in the Northern Nigeria. What is amiss? Perhaps one may not be too fastidious in enquiring? Although two diametric reports are in the courtyards of the media, the public should not be misguided by the narratives being bandied by people who were not fully privy to the condition precedence to the sad episode that climaxed out in the present Danjuma Goje saga. During the last Eid- el-Kabir Sallah celebration, some thugs threw caution into the wind and went on the rampage, leading to the loss of two lives. Should the sitting governor look away while the peace of the state he presides over is being eroded by some ‘above the law citizens’? As an elder statesman,.Danjuma Goje, is well respected and spoken of in glowing tributes in Gombe State’s political turf. The relationship between Inuwa Yahaya and Goje had been healthy and cordial. What has changed suddenly? Could it be a matter of political supremacy? Or is it a plain calculation of the states’ political jugular ahead of the 2023 elections? The issue of who leads the party has been laid to rest. As in other states, the sitting governor is the natural and automatic leader of the party in the state just as it is in several other
states where the controversy has been laid to rest. While we continue to ponder on what truly happened, we must not gloss over the implications of reintroducing thugs who are mostly the ‘Kalare Boys’ into the Gombe State’s political hemisphere. Who are the Kalare Boys and what was their antecedent? These were boys who changed from hunting group to political thugs in Gombe metropolis in the past. Kalare boys have allegedly committed various crimes in the state and had been the nightmare of many Police Commissioners who have served in the state. Their reappearance is indeed ominous. ‘Yan Kalare’ is synonymous with every act of political violence, threat to lives and properties, and other indecent activities. Reports have it that the Kalare thugs resort to burglary and theft and so many cases of rapes have their stamps on them. It was reported that at least 115 people have been killed and scores more injured as a result of Kalare violence in Gombe State Let the All Progressives Congress give sanctions and caution if needs be. Let the Emirs and Chiefs come together on this matter. Let all that love Gombe arise now and lay to rest whatsoever may threaten the balance of enviable socio-economic successes recorded so far by the fiscally responsible government of Inuwa Yahaya’s and his assemblage of ‘brains and brilliance’ cabinet. Ola Alao wrote from Abuja
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EDITORIAL A NEW REVENUE ALLOCATION FORMULA There is need to review the revenue allocation formula in the overall interest of the country
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hairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Elias Mbam said recently that a new revenue allocation formula would soon be presented to President Muhammadu Buhari for onward transmission to the National Assembly. By virtue of the 1999 Constitution as amended, the RMAFC is empowered to review the revenue allocation formula from time to time to reflect changing realities. But that major task has been in abeyance for almost three decades despite fierce agitations. The revenue allocation formula is the proportion of resources accruing to the federation that goes to each of the components of the nation. It also defines the slice of the resources retained in the territories where they are generated as well as the proportions of the revenue accruing to the collecting agencies of government. The perceived lack of fairness in the distribution of the resources often accounts for tension and controversies in the polity. But with a fixation on ‘sharing the national cake’ mostly oil rent, the revenue allocation THE FEDERAL GOVERNMENT formula has always been a contentious HAS MORE THAN A FAIR SHARE OF THE RESOURCES issue. Established in 1989, OF THE COUNTRY TO THE the RMAFC came DETRIMENT OF OTHER up with the current UNITS THAT ARE CLOSER TO revenue formula THE PEOPLE WITH PLENTY in 1992 during the OF NEEDS military era of General Ibrahim Babangida. Attempts to tinker with the sharing arrangement in 2013 were thwarted by the federal government perhaps for fear of losing its hefty share of the national cake. President Goodluck Jonathan could not present the newly drafted revenue formula to the National Assembly before his tenure lapsed. The Buhari administration also declined to receive the draft from RMAFC when it assumed power. Thus, in spite of more than two decades of democratic rule, the country’s revenue allocation formula is still stuck in the past. It is therefore little wonder that the federal
Letters to the Editor
government has more than a fair share of the resources of the country to the detriment of other units that are closer to the people with plenty of needs and responsibilities. Under the prevailing formula, the federal government gets 52.68 per cent, the 36 states share 26.72 per cent while the 774 local government areas in the country share 20.60 per cent every month. Besides, the horizontal distribution of the resources among the states encourages outright laziness.
I T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE
T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGED ENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
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REMEMBERING SULTAN IBRAHIM DASUKI
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ovember 14, 2016 was a day whose darkness was not foretold. Really, it was a ‘volcanic eclipse whose tremor vibrated across Africa and the world at large. It was the demise of the 18th Sultan of Sokoto, a revered Islamic leader, astute administrator, a member of the Buhari Royal House and great son of Usmanu Danfodio. He was a living encyclopedia of the nation’s traditional institutions and the world at large. The indelible imprints and his legacies are unrivalled. The name has remained a strident, defining refrain and a recurring reference in national and international discourse. His contributions towards the growth and developments of the country are still fresh. He was a straight-forward man, a man who did not have to be begged, wooed, persuaded, notified or praised before he rendered a favour. Favour flowed in his veins. His words were favour. His walk was favour. His composure and comportment were favours. He understood no other language besides favour. As a matter of fact his exit had left a gaping void difficult to fill. The late Dasuki has become a daily subject of engagements among scholars, researchers, journalists and public analysts because of his achievements. He introduced salary allowances for the chief Imams and deputies of the Jumu’at mosque in Sokoto and also car gift to Imams. He introduced seminar to Imams to enlighten them. He built 10 Qur’anic schools in 1990 and established an adult literacy class. The Sultanate council was
n the times we operate in, the economic realities of the allocation are unacceptable to many parts of the federation. “We can no longer deny that a comprehensive review of the revenue allocation formula currently in use has become overdue”, declared Kogi State governor Yahaya Bello, at the RMAFC public hearing for the North Central Zone, at Government House, Lokoja. “Existential realities among the three tiers of government today necessitate a more equitable sharing plan for all revenues accruing into the federation account”. Indeed, in all the zones visited by the commission, the refrain was that there is urgent need to devolve more financial resources from the centre to the subnational governments given the fact that the states and local governments harbour most of the people. This is towards ensuring that these tiers of government can carry out their functions and ultimately improve the economic growth and development in the country. Perhaps it is in this sense that many stakeholders are asking for equity in the sharing of resources generated by their states. Indeed, Lagos State is asking that it should be accorded special status in recognition of its huge financial commitments to infrastructure and provision of basic amenities for the increasing population of its residents, as well as its preeminent contribution to the national coffers. “Our demand is a sharing formula that is just, fair and equitable,” said Sanwo-Olu, “reflecting the contribution of stakeholders to the common purse.” We hope the RMAFC will base their review of the revenue allocation formula on objective criteria in the overall interest of the country.
always open to all - from the bourgeoisie to the plebeians as he didn’t discriminate on the basis of social status. He championed a policy of decentralisation and the creation of district officers when he was chairman of Nigerian Railway Corporation. He was central to the local government reform in 1976. He was a member of 1977 Constituent Assembly and a representative of the North to the board that conducted the Nigerian Census of 1963 and contributed towards the nation becoming a member of Organization of Islamic Countries (OI C) and also contributed towards completion of the Sultan Abubakar 111 Central Mosque in Sokoto and Jama’at Nasarul Islam headquarters in Kaduna, National Mosque Abuja and Moshood Abiola Central Mosque in Ijebu ode. He upgraded the Sokoto Orphanage Home and modernized the Sultanate palace in tune with 21th century building design. As Sultan of Sokoto throughout his eight years reign, he sacrificed his salary for the upkeep of the Hubari of his great father, Shehu Usmanu Danfodio. In addition he made Usmanu Danfodio University a traffic light center for organizing Qur’anic recitation competition in the global fora. The Sokoto State government and federal government should keep his memories alive because he left unprecedented footprints in the sands of time. May Allah (S W T) make his grave garden among the best gardens of paradise.
Bello Shehu Shuni, belloshuni79@gmail.com
THERE ARE STILL A FEW ODD IDEAS OUT THERE
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gain, the possibly deranged are out and about with a number of QAnon devotees meeting in Dallas waiting for JFK junior to arrive, and restore Trump to the presidency, despite having been dead for 20 years. He didn’t return and their optimism is amusing although an area of
concern. There have been a few events that people have thought were miraculous although so far as we know none of them were Trump based or related. Let’s leave the miracles to the area of medical illnesses although in reality they are due to the great work of medical workers and researchers and the strength of the patients. The world including QAnon followers need to concentrate on the real problems they face, including climate change, famines and COVID. If those are solved then the search for JFK junior as well as Elvis can continue. In case the QAnon people haven’t caught up on the latest alternative facts, JFK junior and Elvis are living on the secret moon base and maybe those that believe the QAnon messages should head there. Dennis Fitzgerald, Melbourne, Australia
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NEWS
HOUSING INVESTMENT FORUM... L-R: Chief Executive Officer, Signature Advisory Limited, Mr. Samson Davies; Executive Commissioner Operations, Securities and Exchange Commission, Mr. Temidayo Obisan; Managing Director of Family Homes Funds, Mr. Femi Adewole; Minister of Works and Housing, Mr Babatunde Fashola; Director General, Debt Management Office, Mrs. Patience Oniha, and Permanent Secretary, Ministry of Works and Housing, Mr. Babangida Hussaini, at the Housing Investment Forum hosted by the Federal Ministry of Works and Housing in collaboration with Signature Advisory Limited, held in Abuja…yesterday
COP26: UK’s £165m Donation to Boost Gender Equality in Climate Action Michael Olugbode in Abuja The United Kingdom has announced the donation of £165 million to tackle climate change. The fund is expected to address inequalities that make women and girls more vulnerable to climate change and empowering them to take climate action. The announcement was made yesterday, during the Gender Day at the ongoing COP26 in Glasgow,
Scotland. A statement made available by Press & Public Affairs Officer/ Communications Lead, Prosperity and Economic Development at the Foreign Commonwealth and Development Office in Nigeria, Ndidiamaka Eze noted that around the world, the UN had found that women were more vulnerable to the effects of climate change than men, because they constitute a large majority of the world’s poor and
often depend on small-scale farming for a livelihood, which is particularly vulnerable to climate change. The statement noted that women and children could comprise 80 per cent of those displaced by climate-related disaster. But it noted that addressing gender inequality had also been proven to advance efforts to tackle climate change. The statement recalled that in 2017, Nigeria adopted the
International Gender Action Plan by the United Nations Framework Convention on Climate Change (UNFCCC) and in 2020, the country developed its National Action Plan on Gender and Climate Change, with the main goal of the plan being to ensure that national climate change efforts in Nigeria mainstream gender considerations to guarantee the inclusivity of all demographics in the formulation and implementation of climate
Senate Wades into Plateau Assembly Crisis Lagos lawmakers implore Buhari to intervene, want illegal impeachment criminalised Segun James The Senate, yesterday, waded into the crisis rocking the Plateau State House of Assembly and condemned the ‘unconstitutional attempted’ impeachment of the Speaker, Rt. Hon. Abok Ayuba. The Senate, in its resolutions, urged the state Assembly to be guided by the rule of law and the constitution in all of its legislative business. This is as the Lagos State House of Assembly, has appealed to President Muhammadu Buhari, to intervene and rise up in defence of the country's democracy. Coming under Order 42 and 52 of the Senate Standing Rules, Senator Istifanus Gyang, moved a motion of urgent public importance entitled, “Disruption of Legislative Business in PLHA: Need for Early Intervention of the Senate to Avoid Deterioration.” Gyang, in his motion, noted with concern, the barricading of the Plateau State House of Assembly, which has halted legislative business as a result of lack of access to the premises. According to the lawmaker, the alleged impeachment of the speaker, Ayuba Abok, by eight (8) members of the House, fell short of the two-thirds constitutionally required number, as provided for in Section 92 of the 1999 Constitution (as amended). Gyang said majority of the members of House were opposed to the alleged impeachment of the Speaker, adding also that the Conference of Speakers of the 36 States, had denounced the alleged impeachment and withheld recognition for the Yakubu Sanda leadership. The lawmaker, however, warned that the impasse, if left unattended
to, might further degenerate, stressing also that, “The development has the capacity to negatively affect the Democratic image and standing of Nigeria at the global stage.” Citing Section 11(4) of the 1999 Constitution (as amended), Gyang explained that the provision empowered the National Assembly to intervene in the affairs of the state Assemblies, where the House was unable to transact normal legislative business. Accordingly, the Senate in its resolution, urged the Assembly to be guided by the rule of law and the constitution in all legislative business, particularly, where and when it affected appointment and impeachment of a presiding officer, in order to deepen democracy and uphold the independence of the legislature as an arm of government. The red chamber also condemned the unconstitutional attempted impeachment of Ayuba by eight lawmakers. Meanwhile, the Lagos Assembly, while condemning the removal of the Speaker of the Imo State House of Assembly, called on the Senate President, Ahmad Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, the AttorneyGeneral of the Federation, Abubakar Malami, and others to ensure that the crises were resolved and that all those who took part in the Plateau crisis were brought to book. The lawmakers, who spoke during plenary, condemned the alleged interference of the executive arm of the state government in the legislature and urged the Conference of Speakers to stop recognising any lawmaker, who emerged Speaker from such illegalities. Lagos Speaker, Mudashiru Obasa, who presided over the
sitting, said every well-meaning Nigerian must speak against the impeachment of his Plateau counterpart, which has led to the Assembly being under lock and keys, adding that, the manner he was impeached left more to be desired. "The parliament is the eyes and ears of the people. The impeachment is something we all have to rise up against. It happened in Edo and it has not been resolved as we speak. The roof of the Assembly was removed. The majority members are now residing in Abuja while the minority members are in charge.
"Now we have Plateau and we are talking about Imo State. Where is our democracy? It shows that it is not a fluke that the Lagos Assembly is above the common standard of excellence. If we don't criminalise this across the country, it will continue," he said. Obasa also commended the Inspector-General of Police, Usman Alkali Baba, for removing the police commissioner in Plateau after allegations that the latter played a role in the crisis, and called for the opening of the House for plenary activities, because, according to him, no state could be without a parliament in a democracy.
change initiatives, programs and policies. It added that an implementation strategy was developed in 2021 with UK support, which set out how gender action should be implemented under five climate change priority areas namely: agriculture, forestry and land use; food security and health; energy and transport; waste management; water and Sanitation. Other national climate plans on adaptation and mitigation including Nigeria’s revised Nationally Determined Contribution or NDC and its recently published Adaptation Communication highlighted measures to enhance gender integration in climate change policies and actions. The statement revealed that the COP26 President Alok Sharma and UK International Champion on Adaptation and Resilience for the COP26 Presidency, AnneMarie Trevelyan hosted the UK’s Presidency Gender Day event accompanied by Little Amal, the 3.5 metre puppet travelling 8,000km in support of refugees, and Brianna Fruean, a Samoan Climate Change activist. It quoted Trevelyan to have said: “It is women, girls and those who are already most marginalised, that will be most severely impacted by
climate change. But they also have a critical role to play to address the climate crisis. “The UK is committed to addressing this dual challenge head on, committing new funding to empower communities and women’s groups to take locally-led adaptation action, to build local, national and global resilience. I urge more countries to make commitments to implement the UNFCCC Gender Action Plan and deliver the goals of the Feminist Action for Climate Justice.” The British High Commissioner to Nigeria, Catriona Laing, was quoted to have said: “Climate change has led to the preventable loss of lives through actions that are insufficient or delayed, rolling back women’s economic gains of past decades. Aligning resources and responses, and taking deliberate action will provide us an opportunity to improve livelihoods of women, create a sustainable economic future and better protect the planet. “Throughout the UK’s COP26 Presidency, we are encouraging countries around the world to put gender equality at the heart of climate action. I am pleased that Nigeria is engaged on this agenda and is putting gender considerations at the core of national climate and development plans.”
House Summons FCT Minister over Deteriorating Security, Infrastructure Adedayo Akinwale in Abuja The House of Representatives has summoned the Minister of Federal Capital Territory (FCT), Mr. Mohammed Bello to appear before it over the deteriorating security and infrastructure in the nation's capital. The resolution of the House was sequel to the adoption of a motion moved at the plenary yesterday by the Deputy Minority Leader, Hon. Tobi Okechukwu titled, 'Urgent need to arrest the fast deterioration of the Federal Capital Territory.' Moving the motion, Okechukwu expressed concern that Abuja has never been as unsafe as it is today. He decried the influx of bandits and other criminals, lack of modern security infrastructures in the city centre and the satellite towns, and non-maintenance of available ones, including CCTV installations and as little as streetlights. Okechukwu expressed concern over the poor management of
the FCT resulting in obvious disorderliness and widespread deterioration. The lawmaker noted with serious concern the indiscriminate allocation of lands without a matching infrastructural development. The deputy minority leader further lamented lack of infrastructure in the satellite towns and the resort by tax-paying citizens to self-help in territory that should ordinarily model rural development in Nigeria. Okechukwu expressed concern about the allocation of lands in Green Areas in clear breach of the FCT Master Plan. He also noted with concern about the worsening poor waste management practice in the FCT, including dearth and poor maintenance of waste treatment plants, despite the Minister of State, FCT’s claim of N8 billion annual expenditure on waste management in the FCT. The lawmaker also expressed worry about the far-reaching
consequences of absence of a full complement of the FCTA’s administrative structures for about two years since the appointment of the FCT Minister, including the non-appointment of mandate Secretaries, equivalents of Commissioners at state level, to form the FCT Executive Council. Okechukwu pointed out that the powers to legislate for the FCT and oversight the FCT Administration was pursuant to Section 299 (a) of the 1999 Constitution (as amended). Contributing, Hon. Nicholas Ossai said the House Committee on FCT was already taking actions based on the organic functions given the committee by the House. He said one of the references of the committee was to look into the impact structures of the FCT. Ossai stressed that while Okechukwu's motion was all encompassing, he expressed belief that most of these key issues were part of the reference of the Committee on FCT.
Responding, Okechukwu insisted that the relationship between the National Assembly and the minister of FCT was not passive. He explained that the relationship that exists between the National Assembly and FCT minister was same that exists between governors and State Assemblies. Okechukwu stated: "Nobody can perform magic. You can't do all the job, that administration must be enabled. We must see this happen. You delegate responsibilities. “We got to get them to do the job. There are some imperfections, when we interrogate him, interview him, we can refer to the committee to conclude the job. That is how it is done." He was of the opinion that the absence of street lights made it impossible for citizens to be secured. It was at this point that the Speaker, Hon. Femi Gbajabiamila put the motion to vote and it was passed.
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T H I S D AY ˾ WEDNESDAY NOVEMBER 10, 2021
MIDWEEKPOLITICS
Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
Ministerial Retreat: How Buhari’s Govt Held Self Accountable President Muhammadu Buhari, recently, read riot act to ministers and other top government functionaries, at a two-day performance review retreat at the instance of the office of the Secretary to the Government of the Federation, Boss Mustapha, at the state house, Abuja. Deji Elumoye gives an overview of an exercise that sought to reaffirm government’s commitment to its mandate
Buhari
Osinbajo
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ith less than two years to the end of the President Muhammadu Buhari administration, a two-day mid-term ministerial performance review retreat for Ministers, Permanent Secretaries and other top government functionaries was put together by the Office of the Secretary to the Government of the Federation. The event, which held from October 11 to 12, 2021, at the Conference Hall of the State House, Abuja, and had as its theme as “Enhance Security, fight corruption and transform the economy”, was attended by President Buhari, Vice President Yemi Osinbajo, President of the Senate, Dr. Ahmad Lawan, Speaker of the House of Representatives, Hon Femi Gbajabiamila as well as ministers and heads of departments and agencies of government. Setting the tone for retreat, President Buhari, in his opening remarks, stressed the readiness of the federal government to de-emphasise dependence on foreign supply of military weapons to fight security challenges facing the nation. To this end, he said he had already instructed the Ministry of Defence to create a modest military industrial complex for the local production of weapons to meet some of the requirements of the country’s armed forces. According to him, the establishment of the industrial complex would address Nigeria’s over-dependence on other countries for military equipment and logistics. The project, he explained, was being implemented under the Defence Industries Corporation of Nigeria (DICON), a military department responsible for arms manufacture. “To address our over-dependence on other countries for military equipment and logistics, I have instructed the Defence Ministry to create
Lawan
a modest military industrial complex for the local production of weapons to meet some of the requirements of the country’s armed forces. This is being implemented under the Defence Industries Corporation of Nigeria (DICON), a military department responsible for arms manufacture”. On other steps being taken by his government to strengthen national security, Buhari said it was gratifying to note that Nigeria had received six A-29 Super Tucano propeller-driven aircraft, which are currently being used for training, surveillance and attack by the military. He said, “It is gratifying to note that only recently, we received six A-29 Super Tucano aircrafts as part of our efforts to boost the nation’s campaign against insecurity. The propeller-driven aircrafts are being used for training, surveillance and attack by the Military. “As part of the efforts towards strengthening our national security, we have increased investments in arms, weapons and other necessary equipment; expanded the National Command and Control Centre to 19 states of the Federation; and established a Nigerian Police Trust Fund, which will significantly improve funding for the Nigeria Police Force. “We have also approved the sum of N13.3 billion for the take-off of the Community Policing initiative across the Country, as part of measures adopted to consolidate efforts aimed at enhancing security nationwide.” He also highlighted some of the federal government’s notable achievements in the last two years by listing accomplishments in the areas of infrastructure, transpor-
tation, economy, electricity supply, the petroleum industry, among others. He expressed delight that over the past two years, ministers have rendered reports to the Federal Executive Council (FEC) on their activities related to the achievement of their ministerial mandates. “Some of the notable achievements include the establishment of InfraCo Plc in 2020, as a world class infrastructure development vehicle, wholly focused on Nigeria, with combined debt and equity take-off capital of N15 trillion, to be managed by an independent infrastructure fund manager. “The Presidential Infrastructure Development Fund was also established in 2020 with more than USD 1Billion in funding. In addition, we have launched the Nigeria Innovation Fund by the Nigerian Sovereign Investment Authority (NSIA). This is aimed at addressing investment opportunities in the domestic technology sector: data networking, datacenters, software, Agri-tech, Bio-tech, and more.” He listed the 11.9km Second Niger Bridge, 120 km Lagos-Ibadan Expressway, 375 km Abuja-Kaduna-Zaria- Kano expressway and the East West Road as some of the efforts targeted at improving transportation in the country. “Our administration has made tremendous progress on railway projects in the country. Upgrading of our railway network is being extended with the recent completion of the Lagos – Ibadan line. The Itakpe-Ajaokuta rail line, has finally been completed and commissioned after 30 years of its conception,” he said. He assured the people that work would soon commence on the Port-Harcourt-
Gbajabiamila Maiduguri line and Calabar-Lagos Coastal Line to connect the southern and eastern states of the country, adding that there was noticeable progress in the upgrade of the country’s airports, with the state-of-the-art facilities in line with world class safety standards. “On the economy, we witnessed three consecutive quarters of growth, after negative growth rates recorded in the second and third quarters of 2020. The GDP grew from 0.8 per cent in 2017 to 2.2 per cent in 2019, but declined in the first quarter of 2020, as a result of the downward trend in global economic activities triggered by the COVID-19 Pandemic.” “As at Second Quarter 2021, GDP growth rate was at 5.01 per cent, the highest since the inception of this administration. On the power sector, implementation of a ‘Willing Buyer-Willing Seller’ policy has opened opportunities for increased delivery of electricity to underserved homes and industries. “We are also executing a number of critical projects through the Transmission Rehabilitation and Expansion Programme, which will result in achieving the national goal of improved power supply by 2025,” Buhari noted. The Nigerian leader, however, reckoned that by signing the Petroleum Industry Bill, 2021,into law on August 16, 2021, and directing the implementation committee to complete the processes for the successful operationalisation of the act within 12 months, his government had put in place, a legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry, and for the development of host communities. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
1,000 Lagos East MSMEs to receive 100 million in Loan Facility Ike Bede records the effort of Senator Adetokunbo Abiru to fulfil promises to his constituents
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enator Mukhail Adetokunbo of Lagos East has revealed plans by his administration to empower 1,000 micro, small and medium enterprises (MSMEs) in his district with credit facilities up to the tune of N100 million. He made this known at the Business Recovery Program (BRP) which was partly facilitated by the Fate Foundation. BRP addressed pressing issues faced by entrepreneurs, empowering them with the strategic tools they need to scale their businesses. At the conference, Adetokunbo said that the intervention to support these businesses with loans was timely, especially after the negative impact of the COVID-19 pandemic on the world’s economy.
Abiru
he noted. “In Nigeria alone, we have a higher amount of our business in the MSMEs segment.” H e c o n t i n u e d : “ H o w e v e r, w e a l l a re c o n v e r s a n t o n t h e i s s u e of COVID-19, and its impact on all of our lives, and how it h a s a ff e c t e d b u s i n e s s e s . I f y o u fact or t hat in wi t h a l l t he o t he r problems that MSMEs face, like inadequate capital, issues around infrastructure, and some of the challenges in accessing capital i n t e r m s o f i n t e re s t o n l o a n s , then you will see there is a real need to rise to the occasion for e n t re p re n e u r s . ” Aside from loans that will be “MSMEs employ over 80 per cent of most economies and contribute issued at a low interest of six per greatly to the GDP of economies,” cent per annum, the senator also
collaborated with various corporate agencies such as KPMG, and Deloitte to prepare various manuals to aid entrepreneurs to gain insight into various aspects of business that include financial management, marketing and communications, business law, tax, digital technology etc. Similarly, each entrepreneur was offered the opportunity to speak with the different, onsite advisory board to proffer solutions during a master class session. With the World Bank predicting demand for 600 million additional workforces by 2030, Adetokunbo is priming entrepreneurs to actively secure a better positioning ahead of that time to enable the proper assimilation of the workforce in Nigeria.
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POLITICS
Is APC National Chairmananship Zoned to North-central?
GOVERNANCE IN PHOTOS
Nseobong Okon-Ekong writes that the National Convention of the All Progressives Congress is the next most anticipated political event in Nigeria
L - R: Deputy Head, Projects Department, Lagos State AIDS Control Agency (LSACA), Mr. Michael Essien; Head, Administration/Human Resource Department, LSACA, Mr. Femi Agbesanwa; Head, Projects Department, LSACA, Dr. Oladipupo Fisher; Chief Executive Officer, LSACA, Dr. Monsurat Adeleke; Director of Programs, Association for Reproductive and Family Health (ARFH), Dr. Oke Olufemi; Head, Procurement Department, LSACA, Mr. Oluseye Adewale; Senior Programme Manager, ARFH, Dr. Yemi Atibioke during a Courtesy Visit and Presentation of Face Masks to the Agency at its office in the General Hospital, Lagos Island, by ARFH, a United States Agency for International Development (USAID) funded Organisation in Lagas recently PHOTO: ETOP UKUTT
Musa
Mustapha
O
in 2007 as well as a gubernatorial aspirant in Niger State in 2007. In 2015, Musa went through a trying period for which he believes he will yet be recommended for National Honour. He narrated the incident. “My integrity was brought to test in 2015 when I was arrested and detained and later induced with financial and material gift to compromise the 2015 general election by revealing the confidential information on the Card Reader, but for my believe and stand for the nation, I refused to compromise and the success of the 2015 general election was celebrated across the globe. My zeal and determination is always to get the best for Nigeria and Nigerians.” It is no longer news that our political parties and institutions are captives of the oligarchy and serve mostly their interest and that of the few rich allies and powerful politicians. Our leaders failed to unite and inspire our diverse peoples as a nation. “As a member of the APC Presidential Campaign Team 2019, I donated the biggest Presidential Campaign Office in Northern Nigeria not to mention my championing of the usage of the PVC during the voting process.” He was an Ex-Officio of the defunct All Nigeria Peoples Party (ANPP) and also held the same post in the defunct United Nigeria Congress Party (UNCP) in 1997. Since 2019, Musa has been a Senator of Federal Republic of Nigeria, serving as the Chairman of Senate Services committees and member of the committees on: Appropriation, Petroleum Resources, FCT, Water Resources, Foreign and Local Debt. He sees himself as a dedicated and committtted member working for the success of the President Muhammadu Buhari administration. He has also served as a member of various committees of the APC; a member of the NEC, Contact and Strategy Committee and Constitutional Review Committee. An indigene of Paikoro Local Government Area in Niger State, Musa can be said to have sharpened his interest in serving the public during his tenure as President of the Zodia Club, Ahmadu Bello University, Zaria between 1988 and 1989. He bagged a Bachelor of Science Degree (Hons) Business Administration (Banking and Financial Managament) from the ABU in 1990. He previously got a Diploma in Insurance from the Institute of Administration, ABU Zaria in 1996. In 2007 and 2012, Musa obtained postgraduate diploma and certificate in Public Policy Management; International Management from the University of London and University of Liverpool. A beneficiary of different executive courses, certifications and affiliations, he was at the United States Institute of Peace – Professional Certificate in Conflict Analysis in 2007. The next year, 2008, he was at University of Pittsburgh Graduate School of Public and International Affairs, Pennsylvania USA. Leadership Training Programme on Accountability, Ethics, and Corporate Governance. In 2012, he was at the Harvard Business School, Harvard University Cambridge Boston USA Theme: Strategic IQ – Creating Smarter Corporations.
n the surface, it looks like the race for the National Chairmananship of the All Progressives Congress (APC) is a settled matter for candidates from the North-central region; that is Plateau, Nasarawa, Kogi, Kwara, Benue and Niger states. Except for a few others, the majority of aspirants for this exalted office in the ruling party are from the North-central. Is it that these contestants know something that is not clear yet to the people. The main opposition party, the Peoples Democratic Party (PDP), recently concluded its National Convention at which Senator Iyorchia Ayu from Benue, a state in the North-central region emerged National Chairman of the party. There is nothing that says the APC must follow the track of the PDP. With the successful conclusion of the Anambra governorship election, the APC National Convention is arguably the next most anticipated political event in Nigeria. Of the course, all eyes will be on the person who will lead the party, as its National Chairman. For a long time Sentator Tanko Al-Makura, a former Governor of Nasarawa State appeared to be the only one interested in the office. Supporters of Al-Makura including the governor of his state, Abdullahi Sule put up compelling arguments, including the fact that Congress for Progressives Change (CPC) elements in the APC appear to have been given the short end of the stick. But opponents of this claim have argued that the CPC got the biggest office, when President Muhammadu Buhari became the candidate of the party and subsequently the President of the country. Then came Saliu Mustapha from Kwara State who has premised his campaign on the fact that former governors should not be allowed to hold that office, pointing to examples in both the PDP and APC in which the tenure of a former governor as National Chairman of political parties led to so much strife and the disintegration of the party. Therefore, Mustapha has urged the APC to consider a fresh and competent face, a description he believes fits his profile. However, one of the most potent campaigns for the National Chairmananship of the APC has is from Senator Sani Musa from Niger State. Senator Musa, the serving senator representing Niger East Senatorial District parades excellent professional and educational credentials. He believes he is the right man for the job. Exhibiting an unblemished record in his distinguished career both in the public and private service, since 1986, Senator Musa is a passionate ICT oriented person. To his credit, he developed and promoted Electronic Voting for the first time in Nigeria. This manifested in the introduction of Card Reader and Permanent Voters Card (PVC), the revolutionary steps is the instrumental to the transformation of political party election in Nigeria by the Independent National Electoral Commission (INEC) in 2015 and 2019. An astute politician, he proudly said that his political career is just as accomplished and rich with experience as his academic and business pursuits. “I am a member of the All Progressive Congress (APC) and was in 2014 an aspirant for the Niger East Senatorial Dostrict; member, Niger State Gubernatorial Campaign Committee in 2007, a delegate to the National Convention
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Mr. David Edevbie, former Chief of Staff to the Governor of Delta State (standing), addressing His Majesty, Obi (Prof.) Chike Edozien, the Asagba of Asaba (seated) and members of his cabinet on a recent courtesy visit to the Asagba
L-R: Ekiti State Governor, Dr Kayode Fayemi; Minister of Works and Housing, Babatunde Raji Fasola (SAN); Director, Government Relations, BUA, Dr Aniyi Hong and Board Chairman, Globus Bank, Peter Amangbo at the Nigerian Institute of Medical Research Foundation launching and fundraising in Lagos
Long queue of voters at Isuofia, hometown of Prof. Charles Soludo, governorship candidate of the All Progressives Grand Alliance in the Anambra governorship election
Founded on January 22, 1995, THISDAY is published by
T H I S D AY ˾ WEDNESDAY NOVEMBER 10, 2021
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FEATURES
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
From Heaps of Garbage, Lagos Improves on Waste Disposal, Sanitation Charles Ajunwa writes that collection of waste has significantly improved in Lagos State
Sanwo-Olu inaugurating brand new 102 locally designed and assembled compactor trucks...recently
PSP operators collecting waste from Isolo Primary Health Centre
Another PSP operator collecting waste in Apapa
Oshodi Agege Motor Road devoid of waste
I
Local Council Development Areas (LCDAs) through the use of newspaper advertorials, billboards, flyers, radio and TV jingles, social media platforms such as Facebook, Twitter and Instagram. This advocacy has helped to reduce indiscriminate dumping of waste in unapproved locations across the state.
ndiscriminate dumping of waste remains a major public health issue in Lagos State. With a population of over 20 million people, Lagos conservatively needs 1,300 compactor trucks to evacuate 15,000 metric tons of waste per day. Experts are of the view that any outbreak of water borne diseases like Diarrhea or Cholera which are sanitation-related would overstretch the public health system in Lagos. The Nigeria Centre for Disease Control (NCDC) in its August 30 and September 5, 2021 Report revealed that 2, 323 people died from Cholera in 69, 925 cases reported across the 36 states and the Federal Capital Territory (FCT). Cleaner Lagos Initiative Governor Babajide Sanwo-Olu’s Cleaner Lagos project has given the state a facelift since its introduction. The governor was able to achieve this feat because he quickly started the implementation of the five pillar development agenda christened THEME, where he listed health and environment as priority in his inaugural speech in 2019. He also took pragmatic steps to fulfill his pledge of keeping the environment clean and healthy at all times, rejigged the waste management system by making sure that the Lagos State Waste Management Authority (LAWMA) deliver better on its mandate as a regulator, introduced the Private Sector Participation (PSP) model made to respond better in collection of waste, and he incentivised waste sorting where people with organic waste would put them in separate waste bags for recycling companies to turn waste to primary
Provision of Residential Bins It introduced the use of 14-litre plastic bins for about two million households to make waste collection easier for the PSPs. Courts to the Rescue The agency is now making use of over 24 Magistrate Courts in addition to two initial special courts to prosecute cases of environmental infractions in the state.
Ojota Bus Stop looking clean
and secondary raw material. On August 4, 2021, the governor unveiled102 brand new compactor trucks locally assembled with low emission level and 100 double dino trucks for LAWMA as part of his administration’s Cleaner Lagos initiative. With 200 new compactor trucks in LAWMA’s fleet and PSPs 850 trucks, heaps of waste across Lagos are being evacuated timeously. The state government has also spent
N2 billion to rehabilitate dumpsites across the state in addition to N1 billion invested in the construction of transfer loading stations which will provide the necessary infrastructure for waste management. Interventions from LAWMA Advocacy The agency embarked on aggressive advocacy programmes in the 20 local government areas and 37
Today, Lagosians on a daily basis can move around because the environment is being kept clean always and not polluted
Deployment of Technology LAWMA has fully deployed science and technology in its operations with the launch of CitiMonitor Application and Enterprise Environmental Monitoring Infrastructure Information System (EEMIIS), which enables the government to monitor environmental-related infractions across the state. The CitiMonitor app which can be downloaded on Google Play or IOS, enables people to take pictures of infractions on the environment and post them within seconds to appropriate agencies under the Ministry of Environment such as Lagos State Environmental Protection Agency (LASEPA), Kick Against Indiscipline (KAI), Lagos State Parks and Gardens Agency (LASPARK), others that would access the information sent to their different platforms and take prompt actions.
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T H I S D AY ˾ WEDNESDAY NOVEMBER 10, 2021
FEATURES
Ikeja Underbridge barricaded with iron
CMS Bus Stop along Victoria Island
A typical road at Obalende Bus Stop
Scavengers at Ojota dump site
Environment Compliant Dump Sites The state government opened five active environment-friendly dump sites in Ojota, Igando, Awuelepe in Ikorodu, Epe - opposite Aloro City and Iya Afin in Badagry, decentralised operations of LAWMA to allow managers of each zone make quick decisions and be close to their service areas. Partnerships The Lagos State Government has not only entered into partnership with the PSPs and ensured that they get cheaper loans from banks to enable them stay in business at the end of the day, it also approved contractors who take care of the monthly payment and upkeeps of the road sweepers across the state. The state government not only prioritised the cleaners' welfare and well-being, it also gave adequate care, support and protection to the road sweepers as a result of the great work they are doing since the outbreak of COVID-19 pandemic. Many public and private organisations as part of their corporate social responsibility (CSR) donate cash, provide tagged bins with their company’s name embossed on them and go further to sew reflective uniform for the road sweepers across the state. Weekly Sanitation Apart from Thursdays being set aside by the state government as sanitation days starting from 6a.m. to 10a.m., the local government areas (LGAs) and Local Council Development Areas (LCDAs) engage the services of the PSPs to collect waste from homes at least once a week at subsidised rates. Monitoring Team The agency has engaged the services of 250 ‘street captains’ to monitor the 377 wards in the state as part of its responsiveness to keeping Lagos clean in addition to the setting up of a call centre to improve the performance of the PSPs. Outcomes THISDAY visit to some locations in the Island and Mainland areas such
as Oshodi Underbridge, Ikeja Underbridge, ObalendeUnderbridge, CMS Underbridge, Apongbon Underbridge, Mushin Road, Ejigbo Road, Ikotun Roundabout, Airport Road, Mobil Road in Apapa, showed that residences, schools, churches, mosques, markets, public and private organisations including the residents have all keyed into the Cleaner Lagos project. Today, the psyche of average Lagosians have improved tremendously as people are now afraid to drop waste on unapproved locations. The Lagos State government through its urban renewal department has converted some of the under bridges to gardens and secured them with iron barricades, converted illegal parks and markets to open places for leisure which have enhanced the aesthetics of the metropolis. Oshodi, which used to constitute an environmental nuisance to past governments has become a little London with the site of a world class bus terminal there. “This is not the Lagos I used to know a few years ago where touts popularly known as Area Boys are the Alpha and Omega. They desecrated the whole environment with their rude attitudes which saw the springing up of markets and motor parks where they forcefully collected all kinds of levies from traders and drivers. "The whole levies they collected ended up in their pockets. But today the story has changed completely as the state governor has lived up to his promise by making Lagos devoid of mountains of refuse which hitherto gave it the cliché “The Dirtiest City in the World”. All
that has changed for good now”, Mr. Okechukwu Okeke, a trader in Oshodi, recounted. Gbenga Alabi, a vendor at the Obalenderunderbridge recalled with nostalgia. “This place used to be a glorified village some years back and the roads were impassable and unfriendly as traders littered everywhere with rubbish. "But it’s a different story today, as you can see Obalende has been given a facelift - the roads are now free of waste and the underbridges are painted with different drawings making them look more attractive to the eyes. The presence of a modern bus terminal here has also reduced the nuisance constituted by touts.” “Ikotun Roundabout which you see overlooking the Synagogue Church of All Nations used to be synonymous with heaps of rubbish all over the place but that has now changed," Mrs. Nkechi Eze, a trader said. Setbacks Apart from the economic crunch occasioned by COVID-19 which has resulted in paucity of funds at the state and local government levels to execute sanitation works, the poor remuneration of road sweepers and LAWMA staff, the emergence of street markets poses the greatest danger to the Cleaner Lagos initiative. The waste generated by these illegal street markets made nonsense of the state government's efforts to keep the entire state clean. Logistics is also a big problem. “The PSPs that come every Wednesday of the week to collect waste in Ejigbo for two weeks in August didn’t show up and no
Even with the emergence of COVID-19 pandemic in 2020, the story would have been different if Lagos had not been kept neat and devoid of waste that litter the streets
reason was given for their absence. The residents were subjected to inhuman conditions as the environment didn’t only turn smelly and dirty, the foul odour that emanated from the unattended waste became a serious health concern. "During this period we were not having customers in this plaza because of the stench from the rubbish bin located at the entrance of the plaza. The waste collectors later surfaced and cleared the accumulated waste and our businesses have started booming again,” Christian Mbah, a business owner at Rasfunk Plaza, stated. “The operations of LAWMA are opaque and shrouded in secrecy in terms of allocation of funds in the day-to-day running of the agency. Many of us feel that some cabals in government want to push us out of business after we borrowed heavily from banks to purchase compactor trucks. This is not good for business. We demand to be treated with a human face,” one of the PSP operators who declined to give his name, lamented. Conclusion As the Holy Book, the Bible aptly puts it: “Cleanliness is next to godliness.” Lagosians will do themselves a whole world of good if they continue to imbibe the culture of cleanliness and high level of hygiene in their homes, offices, schools, churches, mosques and other public places. Even with the emergence of COVID-19 pandemic in 2020, the story would have been different if Lagos had not been kept neat and devoid of waste that litter the streets. Today, Lagosians on a daily basis can move around because the environment is being kept clean always and not polluted. There is no outbreak of air borne or water borne diseases as a result of poor sanitation. The residents must always be on guard, and they shouldn’t lose focus! This story has been supported by Nigeria Health watch through the Solutions Journalism Network, a nonprofit organisation dedicated to rigorous and compelling reporting about responses to social problems, solutionsjournalism.org
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BUSINESSWORLD R A T E S MONEY MARKET
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Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com
08056356325
N O V E M B E R
S & P INDEX
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EXCHANGE RATE
OBB
14.00%
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565.29%
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0.41%
MTN Nigeria, Dangote Cement, Others OPEX Hits N1.5trn Driven by Inflation, FX Devaluation
Kayode Tokede On the heels of impressive earnings in nine months ended September 30, 2021, it has emerged that doubledigit inflation, foreign exchange devaluation, among other factors impacted the 10 most valued companies on the Nigerian Exchange Limited (NGX) as their Operating Expenses (OPEX) went up by 16 per cent to N1.5trillion from N1.34 trillion in the comparable period of 2020. Recently, the National Bureau of Statistics (NBS) announced that Nigeria’s inflation rate closed September 2021 at 16.63 per cent from 16.47 per cent reported in
January 2021. Inflation rate in January was 16.47per cent but increased to 17.33 per cent in February. The bureau had disclosed that the country’s inflation rate hits all-time high in March 2021 to 18.17 per cent. Aside from the double-digit inflation rate, the marginal Naira/ US dollar rate movement in the official market also resulted in the increase in general prices of goods and services. Analysts said hike in listed banks OPEX was majorly driven by regulatory costs, stressing that challenges witnessed in the process of disturbing goods and services
compounded on listed companies OPEX in the period under review. They expressed that cost of buying diesels and trucks materials in the period under review have increased significantly, a major factors also contributing to cost of goods and services distribution. Analysis of the companies results showed that MTN Nigeria Plc, followed by Access bank Plc and Zenith Bank Plc recorded the highest value of OPEX in the nine months under review, while Nigeria Breweries Plc recorded the highest percentage change. The breakdown revealed that MTN Nigeria reported total OPEX
of N371.28billion in nine months of 2021, an increase of 24.3 per cent from N298.75billion reported in nine months of 2020. The Chief Executive officer, MTN Nigeria, Karl Toriola in a statement to investors said: “We are making good progress with our efficiency at all costs approach to maintain cost discipline and improve efficiency. However, the continued impact of Naira depreciation on lease rental costs, acceleration in our site rollout, and the ongoing COVID-19 related expenditure resulted in operating expenses increasing by 24.3per cent. “Capital expenditure (Capex) in the period was 34.4 per cent higher
to N261.1 billion, as we continued to invest in our network to maintain service quality and aggressively expand our footprint in terms of 4G with additional 2,723 sites. Notwithstanding, we recorded a healthy free cash flow of N373.4 billion, up by 23per cent. Despite a 27.9per cent increase in core capex excluding the right of use assets to N166.5 billion, capex intensity remained within target levels at 13.8per cent. Depreciation and amortisation rose by 13.3per cent, and net finance costs increased marginally by 1.7per cent due to the lower interest rate environment.” As for the banks, Access Bank
reported N291.10billion OPEX in nine months of 2021, an increase of about 18 per cent from N246.87billion reported in nine months of 2020. The Access bank had explained that the growth in OPEX was driven by the enlarged franchise following the acquisition in Kenya, Mozambique, South Africa and Zambia. The breakdown of Access Bank’s OPEX show an increase in Asset Management Corporation of Nigeria (AMCON) surcharge by 14 per cent to N41.51billion in nine months of 2021, while personnel expenses Continued on page 26
UK Pledges £500m to Combat Deforestation, Promote Trade in Nigeria, 27 Others Gilbert Ekugbe The United Kingdom has announced a £500 million fund to support the implementation of the Forest, Agriculture and Commodity Trade (FACT) roadmap to protect forests while also promoting development and trade in Nigeria and 27 other countries across the globe. The announcement was made during the world leaders summit even as an additional £65 million
has been committed to support a ‘Just rural transition’ to help developing countries shift policies and practices to more sustainable agriculture and food production. At the COP26 meeting in Glasgow, commitments made by countries are expected to help implement the Glasgow Leaders’ Declaration on Forests and Land Use which is now endorsed by 134 countries, including Nigeria, covering 91 per cent of the world’s forests.
The Declaration aims to halt and reverse forest loss and land degradation by 2030. In the same vein, Nigeria, 44 other nations and 95 businesses from a range of sectors have committed to being ‘nature positive’ agreeing to work towards halting and reversing the decline of nature by 2030 Governments and businesses joined farmers and local communities at COP26, securing new agreements to protect
nature and accelerate the shift to sustainable agriculture and land use practices by making them more attractive, accessible and affordable than unsustainable alternatives. Nigeria was represented by the Minister of State for the Environment, Ms Sharon Ikeazor, and the Minister of Agriculture and rural Development, Dr Mahmood Abubakar. Twenty-six nations set out new commitments to change
their agricultural policies to become more sustainable and less polluting, and to invest in the science needed for sustainable agriculture and for protecting food supplies against climate change, laid out in two ‘Action Agendas’ as all continents were represented, with countries including Nigeria, India, Colombia, Vietnam, Germany, Ghana, and Australia. Examples of national commitments aligned with this agenda include Brazil’s plan
to scale its ABC+ low carbon farming programme to 72m hectares, saving 1 billion tonnes of emissions by 2030; Germany’s plans to lower emissions from land use by 25m tonnes by 2030 and the UK’s aim to engage 75 per cent of farmers in low carbon practices by 2030 In his remarks, the COP26 President, Alok Sharma said: “If we are to limit global warming Continued on page 27
M A R K E T D ATA A S AT T U E S D AY, N O V E M B E R 9 , 2 0 2 1 FGN BONDS DESCRIPTION 10.296 FGNSB 13-NOV-2021 13.390 FGNSB 14-NOV-2021 9.091 FGNSB 11-DEC-2021 13.402 FGNSB 12-DEC-2021 7.144 FGNSB 15-JAN-2022
Price
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OTC FX F U T U R E S
Discount Yield Change (%)
100.19
3.79
0.00
NTB 11-Nov-21
3.74
3.74 0.00
100.31
3.79
0.00
NTB 25-Nov-21
3.82
3.83 0.00
100.54
3.96
0.00
NTB 13-Jan-22
4.10
4.13 0.00
101.02
3.97
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NTB 27-Jan-22
4.18
100.59
4.17
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NTB 10-Feb-22
4.26
CONTRACT TENOR (MONTH) 1
Contract
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NGUS NOV 24 2021 420.93
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NGUS DEC 29 2021 422.38
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NGUS JAN 26 2022 423.83
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NGUS FEB 23 2022 425.28
4.31 0.00
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NGUS MAR 30 2022 426.73
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CMBL CP XVII 15-NOV-21 FSDH CP III 16NOV-21 NBRP CP XIV 25NOV-21 PARP CP IA 26NOV-21 PARP CP IB 26NOV-21
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7.06
7.08
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6.56
6.59
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9.29
9.35
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6.71
6.74
0.00
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BUSINESSWORLD
NEWS L-R; Access Bank Art X Winner 2021, Chigozie Obi, Founder, Art X Lagos, Tokini Peterside; Group Managing Director/CEO, Access Bank Group, Herbert Wigwe; Access Bank Art X Prize Winner 2019, Etinosa Yvonne at the 6th edition of Art X Lagos supported by Access Bank, held in Lagos PHOTO: SUNDAY ADIGUN
Six Banks Generates N64.27bn Maintaining Customers Current Account Kayode Tokede A total of six banks generated N64.27billion from maintaining customers’ current accounts in nine months of 2021, an increase 40.6 per cent from N45.7 billion reported in nine months of 2020. The six banks are Access bank Plc, Zenith Bank Plc, United bank for Africa, Guaranty Trust holding Company Plc, Sterling Bank Plc and Union Bank of Nigeria Plc. THISDAY findings revealed
that banks in the period under review aggressively engaged in non-banking activities to grow profit. Specifically, Access bank grew its current account maintenance charge and handling commission by 51 per cent to N16.22 billion in nine months of 2021 from N10.75billion reported in nine months of 2020, while Zenith Bank reported about 42 per cent increase in Current account maintenance to N24.2billion from N17.05billion reported in prior nine
months of 2020. Further breakdown revealed that UBA reported 22 per cent increase in Current account maintenance to N7.12billion in nine months of 2021 from N5.85billion reported in nine months of 2020. The Central Bank of Nigeria (CBN) in its guide to charges by banks, other financial and non-financial institution effective January 1, 2020 stated that, “Current Account Maintenance Fee (CAMF) is applicable to current accounts only in respect of
customer-induced debit transactions to third parties and debit transfer. Lodgements to the customer’s account in another bank.” The apex bank explained that CAMF is not applicable to savings accounts, stressing that a negotiable subject to a maximum of N1 per mille. The Nigerian Senate had raised concern over current account maintenance fee, stressing that banks are overcharging customers. The apex bank in 2013 had
commenced phased reduction of Commission on Turnover (CoT), which terminated with zero CoT charge. In addition, GTCO reported N13.03billion from account maintenance Charges in nine months of 2021, an increase of 36.48 per cent from N9.5billiion in nine months of 2020 as UBA reported 42 per cent growth in account maintenance Charges to N1.67billion and Sterling Bank closed nine months with N2.06billion maintaining customers’
current accounts from N1.34 billion reported in nine months of 2020. According to analysts, “The Covid-19 pandemic also played a major role in bank performance as it affected the expansion of the digital rollout plans earlier on in the year. “However, the pandemic will swing in their favour as Nigerians increasingly relied on mobile banking for transactions while avoiding banking halls for fear of contracting Covid-19.”
Insurance Professionals Deliberate on Nigerian Insurance Sector in Digital Age Ebere Nwoji Issues bothering on the Nigerian Insurance industry in the digital age formed the main thrust of deliberations at this year’s edition of the Insurance professionals’ forum organised by the Chartered Insurance Institute of Nigeria (CIIN) at Abeokuta. Ogun State. At the forum which attracted who is who in the insurance industry in Nigeria, the Commissioner for Insurance, Mr. Olorundare Sunday Thomas, urged insurers to develop new technologies that could aid in fast tracking claims processing and distribution channels in their operations to guarantee better customer experience. While addressing the professionals at the forum, he added that he was optimistic that after the year’s forum, the Industry would be abreast of the need to encourage disruptive growth - through a reordering of priorities and cultural change. “Cultural changes from traditional products offering to customer-centric biases, investing in disrupting our traditional business model, matching current workforce with future Needs - the skills that will be critical in the future will likely be quite different and existing roles will likely require broader skill sets in the future, “he stated.
He called on insurance operators to develop talents for disruptive innovations, that create a new market and value network and eventually disrupts an existing market and value network. “Adopt disruptive technology (cloud computing, mobile technology, artificial intelligence, block chain, internet of things) at the minimum, develop new products, enable better customer experience, develop new channels of distribution, automate processes, pursue faster claims processing, deploy data analytics and ensure information security. The insurance industry needed
to catch up quickly with new technology, innovations, changing environment (from traditional to digital), developments and changing customer expectation. “We are in the digital world and can no longer be playing the ostrich by being less digital in our operations. The only constant thing is change and there is need to quickly join the digital wagon to bring transformation to our industry.” he said In his welcome address, Governor of Ogun State, Prince Capo Abiodun, stated that the challenges posed by the COVID- 19 pandemic called for
the need to upgrade the digitalisation processes in insurance operations. He said, “The insurance industry must come up with new products and services that will meet the ever involving pattern of this virtual, artificial intelligence driven economy. We must realise that just as there are risk in the traditional processes there are also risk in the digital processes hence the need for rigorous enlightenment of proven risk in virtual transaction.” He assure the management of the professional body (CIIN) that his administration would continue to keep its doors open to all col-
laborations. “We unveiled an online platform for third party motor insurance, this platform is one of our steps to enforce compulsory insurance, this should create value for all stakeholders, we want our people to easily buy geniune third party insurance, eliminate fake insurance certificate and prompt payment of claims, this platform is open to all insurance companies operating in Ogun State, “he stated. He said the commission had commenced the implementation of its universal health insurance scheme, adding that the scheme
was particularly to enable all sectors adhere to the new out of pocket expenditure and also increase the access of health insurance regardless of socioeconomic status. Also Speaking, an administrator, a business thinker and customer advocate currently involved in sharing advisory services on insurance and risk management, Mr Ekerete Ola Gam-Ikon suggested that insurers should sell insurance products in local languages to aid understanding and acceptance of insurance especially micro insurance which was designed for the informal sector.t
Alaghodaro 2021: Abaribe, Onobun to Share Insights on Role of Governance, Institutions in Unlocking Devt, Attracting Investors Senate Minority Leader, Sen. Enyinnaya Abaribe; Speaker, Edo State House of Assembly, Rt. Hon. Marcus Onobun and Special Adviser to the President on Ease of Doing Business, Dr. Jumoke Oduwole are among guests expected to share insights and perspectives on the bottom-top approach to reinventing governance and highlight strategies to improving the business environment, on a panel session at this year’s Alaghodaro Summit. Others listed for the plenary session include the Executive Director, African Network for Environment
and Economic Justice, Rev. David Ugolor and Edo State Commissioner for Finance, Mr. Joseph Eboigbe, while Regional Director, Africa, BBC Global News, Ms. Yewande Adewusi will serve as moderator. According to Chairman, Marketing and Branding Sub-Committee, Alaghodaro 2021, Crusoe Osagie, who spoke to journalists in Benin City, the Alaghodaro Summit, in its fifth edition, will take place between November 12 and 14, 2021, with the theme, “Edo of Our Dreams: Building a Sustainable Future.” He noted that the experts at the
panel session, with the theme, ‘Reinventing governance: The bottom-top approach’, will chart paths towards improving the state’s business environment, enhancing fiscal administration and management, enabling legislation for good governance, and promoting civic engagement and responsibility. Osagie stated, “Since his assumption of office, Governor Godwin Obaseki has reinvented governance in the state by harnessing analytical competencies of multidisciplinary experts to generate nuanced baseline scenario analyses as envisioning platforms for understanding the Edo
State of the future and it delivered a strategic plan that went through stakeholders review and validation at the 1st Edo Summit in 2017. “On the back of this, the state government has taken deliberate actions to improve professionalism, effectiveness and efficiency in the state’s civil and public service, which is in turn, already driving the desired growth in other sectors of the state.” He continued, “This year, the state is bringing together government officials, top private sector players, and public servants to share insights and perspectives on
the bottom-top approach towards reinventing governance in Edo State and strategies for refinement and improvement. “The session will also discuss the primacy of good governance and strong institutions in unlocking development; highlight the role of government in improving the business environment to attract local and foreign investments; emphasize the importance of legislations in underpinning good governance and identify critical responsibilities of citizens as well as strategies for encouraging and mobilizing them.”
MTN NIGERIA, DANGOTE CEMENT, OTHERS OPEX HITS N1.5TRN DRIVEN BY INFLATION, FX DEVALUATION Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)
contributed 24.6 per cent to OPEX in the period under review. “We continue to optimize our costs despite the inflationary environment,” the bank had explained. Meanwhile, Nigerian Breweries Plc reported 27.4 per cent increase in OPEX to N86.69billion from N68.04billion reported in nine months of 2020, an increase of 27.4 per cent. The international breweries OPEX was driven by 32.5 per cent increase in Marketing and Distribution Expenses to N69.11billion in nine months of 2021 from N52.15billion reported in nine months of 2020, while Administrative Expenses rose by nearly 11 per cent to N17.58billion in the period under review from N15.89billion reported in prior period under consideration. Of the three considered cement manufacturing companies, BUA Cement recorded highest OPEX by percentage in nine months of 2021.
The company reported 26.2 per cent increase in OPEX to N11.74billio in nine months of 2021 from N9.3billion reported in nine months of 2020, driven by 53 per cent increase in administrative expenses. Economist/CEO, Centre for Promotion of Private Enterprise (CPPE), Dr Muda Yusuf explained to THISDAY that inflationary pressures remain a key concern in the Nigerian economy, both for businesses and the citizens. He highlighted that implications of high inflation rate include escalation of production and operating costs for businesses, leading to erosion of profit margins, drop in sales, decline in turnover and weak manufacturing capacity utilization, high food prices which impacts adversely on citizens welfare and aggravates poverty. He further stated that Weak purchasing power, which poses
significant risk to business sustainability and price volatility, which undermines investors’ confidence are major implications of high inflation pressure. He explained that the major drivers of inflation and cost in the economy include exchange rate depreciation, which has a significant impact on headline inflation, “especially the core sub index and liquidity challenges in the foreign exchange market impacting adversely on manufacturing output.” He added, “High transportation costs affecting distribution costs across the country. This is also reflected in the huge differential between farm gate prices and market prices; monetization of fiscal deficit (CBN financing of deficit) is highly inflationary because of the liquidity injection effects on the economy. This becomes worrisome when statutory
thresholds are exceeded and high transactions costs at the nations ports increases production and operating costs of businesses.” To tame the current inflationary pressure, he urged government to reform the foreign exchange market to stabilize the exchange rate and reduce volatility and address foreign exchange liquidity issues through appropriate policy measures. Others are: “Address the security concerns causing disruption to agricultural activities, address the challenge of high transportation cost, reduce fiscal deficit monetization to minimize incidence of high-powered money in the economy, reduce import duty on intermediate products and raw materials for industries to reduce production costs, especially in the light of the sharp depreciation in the exchange rate and address concerns around high energy cost.” In his reaction, Head, Financial
institutions, Agusto & Co, Mr. Ayokunle Olubunmi attributed hike in banks OPEX to increasing cost of operating environment, and regulatory costs. According to him, “Hike in operating expenses differs from banks to banks. AMCON levy and NDIC premium also contribute to OPEX of banks. Dont forget that double-digit inflation rate and fall in the Naira this year impacted on banks expenses. Since banks are not operating in isolation, of course it is expected to affect their OPEX in the period.” Also speaking, the CEO, Enterprise Stockbrokers, Mr Rotimi Fakeyejo told THISDAY that severe business operating environment impacted on banks and companies OPEX in the period. He said that banks and companies were prudential in managing cost on the need to stay profitable.
T H I S D AY ˾ WEDNESDAY, NOVEMBER 10, 2021
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ECONOMY
Impact of Digitisation in Currency Management The commitment by the Central Bank of Nigeria to develop the country’s electronic payment system and digitisation of financial products and services could enhance macroeconomic stability in the long run, writes James Emejo
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he development of electronic payment system by the Central Bank of Nigeria (CBN) portends that the country could achieve microeconomic stability over time, as the efforts the bank has made has started yielding dividends. For example, the apex bank said it slashed its expenditure on currency printing to N58.61 billion in 2020 from N75.52 billion in 2019, representing a decrease of N16.91 billion or 28.84 per cent compared to the preceding year. This was a welcome development given that the country had spent N64.04 billion to print the local currency in 2018. No doubt, the administration of paper money is fraught with diverse challenges, which made the use of electronic payment system an effective and efficient alternative to cash handling.
CHALLENGES
In the past few decades, huge monies had also been lost to bank robberies among other vulnerabilities of the physical cash. From available statistics, it is crystal clear that the benefits of electronic and digital transactions outweigh the traditional methods of financial dealings. Compared to the amount spent in printing money and other expenses in its management, central bank said it generated only N6.50 billion as total income from currency management activities in 2020, compared with N13.24 billion in the preceding year, representing a decrease of N6.74 billion or 50.92 per cent. The bank incurred a total of N67.21 billion as expenses on currency operations in 2020, representing a decrease of N17.96 billion or 21.08 per cent, less than N 85.18 billion in 2019. Apart from printing and design, it costs the CBN a whole lot to also destroy old and worn out currencies as well as commit enormous resources to check counterfeiting and other forms of abuses. According to the Currency Operations Department (COD) of the CBN, the cost of printing banknotes increased by 17.93 per cent in 2019. The total cost incurred on printing of banknotes
amounted to N75.52 billion in 2019, compared with N64.04 billion in 2018, indicating an increase of N11.48 billion. Also, the sum of N5.91 billion was incurred on currency distribution in the period under review, compared to N5.73 billion in 2018. According to the COD, the 3.13 per cent increase in cost was attributed to the upward review of transportation cost per kilometer and nautical miles in the period. The CBN also spent N814.60 billion on currency disposal in 2019 compared to N915.08 billion in 2018 while currency indent approved for 2019 was valued at about N1.34 trillion compared to N1.45 trillion in the preceding year. Also noteworthy is the fact that N647.82 million was incurred on currency disposal and processing activities in 2019, compared with N662.21 million incurred in 2018. The CBN had identified high level of human intervention in currency handling processes at the branches, sale of new naira banknotes and increasing incidences of counterfeiting, poor handling habits of banknotes by the public and high cost of currency management ad the challenges facing currency management in this country. Financial experts have continued to harp on the need to de-emphasise on use of paper money to electronic payment systems to among others reduce the attendant social ills associated with the legal tender.
MILESTONES
The CBN Governor, Mr. Godwin Emefiele, has made a commitment to further develop the country’s payment infrastructure and make it the best in Africa- an aspiration he has so far achieved considering the state of payment infrastructure in other regional economies in continent No doubt, the reduction in currency management costs is in line with the policy objective of Emefiele to reduce the cost of printing bank notes and cash management,
in the country. The Central Bank Digital Currency (CBDC) also known as the eNaira, which was unveiled recently by President Muhammadu Buhari, is in line with the policy to further reduce the cost of printing the Naira. The CBN’s financial inclusion strategy, has been instrumental in the development of the payment system. According to the National Bureau of Statistics (NBS) a total volume of 3,464,811,083 transactions worth N356.47 trillion was recorded on electronic payment channels in the fourth quarter of 2020 (Q4 2020). Online transfers dominated the volume of transactions with over 2.23 billion deals valued at N120.27 trillion in the review period. Payment transactions through the use of cheques stood at N4.20 trillion, indicating 10.28 per cent increase over Q3 while transactions, while using Automated Teller Machine (ATM) amounted to N4.54 trillion. Point of Sale (PoS) transactions amounted to N1.52 trillion or a 25.49 per cent increase over the preceding quarter. Also, National Electronic Funds Transfer (NEFT) transfers stood at N96.08 trillion while Real Time Gross Settlement (RTGS) transfer was valued at N112.99 trillion as well as the Unstructured Supplementary Service Data (USSD) transfers of N1.63 trillion in the review period. According to the NBS, mobile apps transfers (not mobile money), amounted to N9.91 trillion while direct debits stood at N500 billion as well as transactions by Mobile Money Operators (MMOs), which stood at N4.82 trillion.
Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, believed that whenever cost is reduced in an institution, more money is made available for other projects. In an interview with THISDAY he said, “The reason for this cost reduction is that more and more people are embracing digital technology and fintech in their banking transactions. “The next reason is that last year was bedeviled by COVID-19 and lock down. The benefits are that CBN can deploy more of the saved funds in other sectors.” Also, Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, said the introduction of the eNaira should further influence costs reduction in the management of the paper money. He said, “I believe the implementation of digital banking and the Treasury Single Account (TSA) could be largely attributed to the reduction in the cost of currency management.” Also speaking to THISDAY, Managing Director/ Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, described the reduction in the cost of currency production as good news for the country compared to the expenses incurred in preceding years. He said, “This shows prudence on the part of CBN also stating clearly that it was in - country production. This is very beneficial to financial consumers because the reduced cost will affect them as well and it also give the Nigeria Printing and Minting Company more capacity and credibility as it will make other countries to rely on them for currency production. “This measure will also ensure that cash management will be more effective than previous years.”
OBSERVATIONS
RECOMMENDATIONS
Analysts have however, welcomed the gradual reduction of currency management expenses by the central bank, hoping that this would translate to more gains for the financial consumers and the economy in general.
According to the currency operations department of the apex bank, automation of currency operations in banks’ branches remained critical to enhancing efficiency and reduction of manual intervention in cash handling among other measures.
UK PLEDGES £500M TO COMBAT DEFORESTATION, PROMOTE TRADE IN NIGERIA, 27 OTHERS and keep the goal of 1.5C alive, then the world needs to use land sustainably and put protection and restoration of nature at the heart of all we do. The commitments being made today show that nature and land use is being recognised as essential to meeting the Paris Agreement goals, and will contribute to addressing the twin crises of climate change and biodiversity loss. Meanwhile, as we look ahead to negotiations
in week two of COP, I urge all parties to come to the table with the constructive compromises and ambitions needed.” The World Bank also said it will be spending $25 billion in climate finance annually to 2025 through its Climate Action Plan, including a focus on agriculture and food systems. In a show of similar commitment from the private sector, almost 100 high-profile
companies from a range of sectors committed to becoming ‘Nature Positive’. Commitments include supermarkets pledging to cut their environmental impact across climate and nature-loss and fashion brands guaranteeing the traceability of their materials. Representatives from Indigenous and local communities will be participating in events throughout nature day. As stewards of 80 per cent of the
world’s remaining biodiversity, Indigenous Peoples are leaders in how to develop nature-based, resilient and effective solutions to climate change. Nature day also follows the announcement on Ocean Action Day on 5 November of over ten new countries signing up to the ‘30by30’ target to protect 30 per cent of the world’s ocean by 2030. These were: Bahrain, Jamaica, St Lucia, Sri Lanka, Saudi Arabia,
India, Qatar, Samoa, Tonga, Gambia and Georgia. Over 100 countries now support the target. The Glasgow leaders’ declaration on forests and land use full package of commitments and action will also include agricultural reform and innovation, a new global initiative launched to reach 100 million farmers at the centre of food systems transformation with net zero and nature positive innovations by 2030 via a multi-
stakeholder platform convened by World Economic Forum (WEF) involving farmers’ organisations, civil society, businesses and other partners Others include the New UK funding of £38.5m over 2 years to the CGIAR, the world’s leading agricultural science and innovation organisation, which will create and scale new crops and technologies yielding climate, nature, health, gender and economic impact.
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WEDNESDAY, NOVEMBER 10, 2021 ˾ T H I S D AY
BUSINESSWORLD
INSURANCE
Implementing Compulsory Builders’ Insurance Unabated collapse of buildings under construction in Nigeria has spelt the need for enforcement of compulsory builders’ Insurance, writes Ebere Nwoji
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he recent collapse of 21 storey building in Gerard Road Ikoyi Lagos, in which more than 21 people have been declared dead and many injured spells the need for intensification of efforts by government to implement the enforcement of compulsory builders and building under construction insurance in Nigeria. This has become necessary because six days after the building collapsed, no insurance firm in Nigeria or a foreign insurer has admitted that it insured the building. Investigations by THISDAY to ascertain from insurance underwriting firms, insurance brokers and agents which particular firm insured the building has not yielded any result. The situation has been worsened by the fact that the owner of the building and site managers who should be in position to give information on the insurance status of the collapsed building were said to be among the victims. This is so despite the fact that insurance of building under construction is one of the compulsory insurances in Nigeria as well as one of the compulsory insurance slated by the Lagos State Government for enforcement. Section 65 of the Insurance Act 2003 requires the owner or occupier of every public building to be insured against liability for loss or damage to property or death or bodily injury caused by collapse, fire, earthquake, storm or flood. The Act defines a public building as one to which members of the public have access for educational, recreational, medical and commercial purposes. The penalty for non-compliance is a maximum fine of N100,000 or one-year imprisonment or both. Also, Section 64 of same Act, stipulates that for insurance of buildings under construction, every owner or contractor of any building under construction with more than two floors must take an insurance policy to cover liability against construction risks caused by his negligence or that of his servants, agents or consultants which may result in death, bodily injury or property damage to workers on site or members of the public. The collapsed build is said to have been subscribed to by would be users at a very high rate.
NATIONAL TRAGEDY
Speaking as a guest on a TVC programme on the collapsed building and insurance, monitored by THISDAY, the Commissioner for Insurance, Mr Olorundare Sunday Thomas described the incident as a national tragedy saying governments at all levels, insurance operators need to up their games in sensitising the people and enforcing them to key into compulsory insurances like insurance of public building and building under construction. Describing the incident as one thing that affects many, the commissioner said there were already made provisions in the insurance Act 2003 for unforeseen and unfortunate situations like the collapse building pointing out that this is contained in the law on insurance of public building and building under construction but regretted that Nigerians would hardly obey it although the case of the collapsed building fell under the stipulated compulsory insurances. “The Law knew that things like this will happen and that things will follow after so the law provided for this by making building under construction one of the compulsory insurances and this falls under it” but what will happen now is to confirm if there is compliance by the owner of the property and if there is insurance then we begin to search for the insurance firm in charge and make them bring succor, “he said.
The commissioner said insurance was about risk taking and claims payment when the unforeseen happens assuring that if the building was insured, the insurance company in charge would pay and NAICO as a regulator would ensure that claims were paid. He said concerning this kind of unforeseen circumstance, the starting point going foreword would be for insurance people to create awareness on existence and relevance of such compulsory insurance then the federal and state governments should use their agencies to compel Nigerians to take insurance covers especially compulsory insurance “There are a lot of financial implications, children may be out of school these are liabilities foreseen in the provision, there are also other liabilities, I learnt that people have subscribed to the building and these suppose to rest on the shoulders of insurance people if such building has insurance cover, “he added. On the question on willingness of insurers to pay claims promptly, the commissioner said it was one thing to insure and another thing to pay claims adding that the insurance cover had to be taken first before one could talk about claims payment. According to him, claims payment is responsibility of insurers and if there was delay, there is distress mechanism, like the Complaint Bureau of both National Insurance Commission and Nigeria Insurers Association. He added that tales on non-payment of claims when the unforeseen happens were mere perception by the public especially by those who were ignorant of Insurance. He said though there were legacy issues in the past but that things had changed as he commiserated with families who lost their loved ones in the incident.
THE WAY FORWARD
On the way forward, Thomas said though no level of claims or provision would bring back dead ones, insurance operators needed to do more on sensitisation, Lagos State government whom he said had been bearing a lot of expenses in compensation of victims when that kind of occurrence happened should also stand up to enforce the compulsory insurances to reduce its burdens in this direction. He described Lagos State as Insurance friendly state adding that it had done much in patronising insurance sector through provision of insurance arrangements for its workforce but said the state government should stand up to help in enforcing compulsory insurance especially the insurance of public buildings and buildings under construction. In their comments, industry analysts said enforcement of the building under construction insurance would go a long way to not only compensate victims of collapsed building also would go a long way to prevent the building collapses. According to the analysts, it is obvious that the cause of building collapses is mainly the use of defective, substandard building materials as well as failure to adhere to recommendation of building experts. The analysts said if building under construction insurance was enforced it would help to compel builders to adhere to use of the right quality building material in building.
According to them, this is because; no insurer would like to sit on a keg of gunpowder in terms of providing cover for any building whose construction quality they cannot ascertain. They said as such if the policy was enforced, insurers, through their assessment of buildings they insure in collaboration with estate managers, quantity surveyors and building constructors and architects would work together to ensure that any house to be covered by insurance policy was built with the right specification by the building experts. They said this way builders who must get insurance policy cover as one of the requirements before commencing building would ensure that the right standard specification was maintained in the construction process otherwise no insurance company would want to accept the liability of covering such building. They said this would drastically reduce frequent cases of collapsed building in the country often caused by use of substandard building materials and wrong specifications. Construction experts namely Professor Awoyera Alfa, A Adetoye and L L Akinwumi all from the Department of Civil Engineering, Convenant University Ota in their recent work on building collapse in Nigeria causes and effects said building collapse in Nigeria in the last few decades has become a growing concern for investors and the government alike. According to them, many of the documented cases of building collapse in Nigeria are due to the use of defective or substandard building materials, no requisite technical knowledge, non- adherence to building codes and standards, the use of non-professionals and the high level of corruption which has ravaged every sphere of the construction industry including government and private parastatals. According to them, in addition to the established causes of the collapse of structures, empirical data from developed countries of the world has shown that many of the recorded cases in this climes are due to the fact that the current codes of practice do not make provisions for unexpected loads and an unexpected failure of a single member may lead to an all-round collapse of the entire structure. This being the case, the role of insurance as a risk mitigating factor in addressing losing emanating from building collapses as well as in encouraging if not compelling building owners to adhere to the right standard cannot be overemphasised.
BUILDING UNDER CONSTRUCTION INSURANCE
But insurers said this could have only happen if government could use the current incident as a case study and implement in practical reality the enforcement of compulsory building under construction insurance and builders insurance. President of the Nigerian Council of Registered Insurance Brokers (NCRIB) Mr Rotimi Edu, in a statement to this effect noted that the increasing cases of building collapse constituted a huge challenge to government and other stakeholders in the built environment calling on relevant authorities to embark on better synergy to ensure compliance with extant building regulations. Edu was of the opinion that in spite of the strident efforts of Lagos State government through
its various dedicated agencies, the incidences of building collapse has not been fully stopped. He underscore the need for compliance with the compulsory insurance of public buildings as stipulated in Section 64 & 65 of Insurance Act of 2003 which makes it mandatory for all contractors and their agents to, among others, undertake insurance against death or injuries to third parties to a public building in the event of a disaster of this nature He specifically highlighted the crucial roles of Insurance Brokers who he noted were professional intermediaries in the insurance value and had the duty to advise clients about what to insure, how to insure and how to pursue their claims in the event of occurrence of a loss.
CASES OF BUILDING COLLAPSE
In March 2019, the same Lagos Island witnessed the collapse of a three-storey building in the Ita-Faji area of Lagos Island Local Government, in which many people including school children lost their lives. Within the same period, in Apo Mechanic village Abuja, a story building collapsed trapping six people and there was also another reported case in Ibadan, within the same period. This is in addition to fire outbreaks in markets all of which supposed to be covered under the compulsory insurance of public. just three weeks ago, the popular Nkwo Ogbe Market in Ihiala Loc al Government Area of Anambra State was gutted by fire destroying goods worth of millions of Naira. The owners of the shops gutted by the fire lamented that the state government Governor Willie Obiano came to the venue but failed to say anything tangible in terms of rescue and intervention effort. Asked if they insured their shops the fire victims said no. This confirms what the insurance commissioner said about huge task of awareness and sensitisation of the people on the value of insurance in addition to government’s enforcement need and effort. Also analyst said the review of the insurance Act 2003 is overdue adding that N100,00 and N250,000 penalty for non compliance to the compulsory builders insurance is long overdue for upward review. They said all these would help to encourage builders to maintain the right standard in their projects and prevent building collapses. NAICOM on its part had been making efforts to see that the compulsory building insurance is enforced but these efforts have not yielded the desired results. in 2020, the commission launched the compulsory insurances in the six geopolitical zones of the country. In October 2017, it inaugurated a technical committee that would drive the enforcement of public building insurance in Nigeria. The committee was made up of representatives of NAICOM, the Federal Fire Service (FFS), representatives of states fire service from the six geo-political zones and the Nigeria Insurers Association (NIA). Since then nothing has been heard about the work or achievement of the committee. The expectation was that by now, everybody would have embraced this policy and a significant number of buildings in Nigeria covered by the insurance policy. With the increasing incidence of building collapses in the country especially in Lagos, it is expected that the Lagos State Government, would through its ongoing partnership with over 150 insurance brokers who serve as intermediaries and 20 insurance underwriters for the purpose of providing end to end risk management services to its workforce, the state government would leverage on this partnership and implement the enforcement.
T H I S D AY ˾ WEDNESDAY, NOVEMBER 10, 2021
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BUSINESSWORLD
INTERVIEW
‘Our Target is Financial Independence for Gombe’ The Commissioner for Finance and Economic Development Gombe State, Muhammad Gambo Magaji spoke extensively on his state’s debt, debt financing and plans towards increasing its Internally Generated Revenue (IGR). Nume Ekeghe presents the excepts: Can you speak on the current state of Gombe finances? his administration came into being almost two and a half years ago on the 29th of May 2019 and we came into office and inherited liabilities. Government is a continuum, so we are not blaming but we are only bringing in to fore what we inherited on assumption of office. We inherited N124 billion of liabilities, it is not a hidden figure as that has been reported many times, which included, you know, contractor arrears, pension and gratuity arrears, and also debts, loans, bank loans and bonds which were accrued over the years by past administrations. But that does not stop us from ensuring that we continue to move forward. The first thing we did was to ensure that salaries and pensions are paid monthly. And what we discovered at the inception of the administration was that the state government was able to pay salaries but the local governments were not able to pay their salaries until they borrow N1.3 billion a month to pay salaries. But with the focus and tenacity of His Excellency, by the fourth month of the administration, we were able to stop borrowing that N1.3 billion to pay local governments salaries and pensions. So it meant that the local governments were able to now pay salaries on their own without borrowing from the bank. And local governments cumulatively put together had a debt profile of over N2 billion, aside the fact that they were collecting overdrafts monthly in the tune of N1.3 to pay salaries. Now two years down the line today, local governments in Gombe state pay their salaries without borrowing from banks. And they have a cumulative balance credit balance of N2.5 to N3 billion as of today. And aside from that, there is a joint development agency, which was created by this administration. Wherein any local government that has any project that wants to undertake but does not have the financial wherewithal to do so will contribute 40 per cent of that project amount and the state government will contribute 60 per cent to ensure that that is done.
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How are you able to avoid leakages in the system? First and foremost, we decided to do some reforms. The first was to ensure that the Treasury Single Account (TSA) was adopted. They had started in the last administration, but just on paper, there was no implementation, and we needed to take it further. To ensure that we trap and lock all leakages by ensuring that we have a treasury single account for the government of Gombe. We have been able to ensure that any fund that comes in is identified and spent only for reasons of expenditure that government supports and of course budgeted expenditure. What has your administration done differently from its predecessor? One the difference between this administration and other administrations is that we don’t spend a Kobo unless it is budgeted for and of course an expenditure that is backed by law that is budgeted and passed by the State Assembly. So we do not spend monies out outside legislation. And the second thing is, we have not borrowed a single Kobo for recurrent expenditure. If Gombe state government goes to the bank or takes a loan, it is specifically for a project and that project is also budgeted or captured in our project development plan. And, of course, the funds will go specifically for that project without diverting any kobo to any other government expenditure. Can you speak on the state of Gombe IGRs? Last year Gombe state recorded the highest ever internally generated revenues in the
Magaji history of the state. And we are poised to continue to move our IGR to levels that will ensure that Gombe becomes independent economically. What I mean is that we should be able to pay our salaries, our recurrent with our IGR. That is the dream of the governor at the moment, and that is what he has given us the mandate to ensure that at the end of his administration, Gombe is independent in terms of paying all recurrent expenditures, rather than waiting for Abuja to send us monies through the Federation account to meet our recurrent expenditures. Still on IGRs, how much was your predecessor generating and how much is your administration generating? Before the inception of this administration, we had ideas about N5 billion to N6 billion and we were able to do over N8 billion last year. How were you able to grow the state’s IGRs? We had to promulgate a new law; we had to enhance the activities we had to give more strength to the IRS for them to perform their duties. There were incentives given and then we structured the place appointed new people. The laws helped us to look at all the leakages because there are a lot of tax areas that were not being looked at by the former administration, and we felt we needed to enhance that. And don’t forget, we are also doing reforms in the land registry that will also allow us to take in more revenues that were not available for past government
to access. You have seen a lot of road projects going around the state, and you cannot do this road projects without funds. And what we discovered when we came in was that we had these three loans, three bonds that were running and we were paying over N300 million on those bonds alone. We had other facilities that were running, which we were also paying. In fact, cumulatively this government inherited almost N900 million monthly of loan repayments. This is information that most people don’t know. First of all, they felt probably government just came and we had monies to do projects. But the truth of the matter is, if you take out N900 million from the statutory allocation of any state, especially a state that is number 35 or 36 in terms of revenue allocation from the Federation account every month, not much is left. We also inherited a wage bill of about N1.2 billion and right now we are only one of the very few states paying the minimum wage and that was an additional addition of about N237 million to our wage bill. And we have consistently paid the minimum wage in the state every month till today. Monthly what we get is about N3 billion from the Federation account. So take out loans, take out the salaries, what do you have? Can you give an overview of your state loans and facilities? So during the course of this government, of course, we took facilities and the first we took was a N1 billion infrastructure
facility from GT Bank, for which at the moment we’ve paid more than half of it and we want to be responsible to ensure that we do not take loans, which repayment will not exceed the tenure of the administration. The N10 billion we took from GT Bank will expire in February 2023, which means that any loans taken from them would have been paid before the end of the first tenure of this administration. Along the line, the there was a N2 billion health care facility, which was given during the COVID-19 as COVID-19 affected all finances everybody. But Gombe did not go out to cry or stop government mandates and payments of salaries or whatever. That did not affect us. All we did was to try to see how we can reduce our recurrent expenditures that were not necessary. And I can tell you that last year; our recurrent expenditures were very low. In fact, government spending was minimum. All the costs associated with government travels, tours and all of them came down very low. It was sacrifice that the government had to make. And that is the reason why we kept our projects going. And we didn’t have to borrow a lot to do what we’re doing. I would say that at the moment, what we have borrowed as a government under the Muhammad Inuwa Yahaya administration is N20.5 billion and it would all be paid within the first tenure of this administration, except for one facility, which we inherited and concluded that it was the third bond. And we shall run that into the second term of the Governor’s administration, if re-elected. I am sure most of you would have read that Gombe state should not borrow. There has been news around that stated that we should not be allowed to borrow. Now, governance cannot move without money. Projects cannot be delivered without money and borrowing is not the problem, but utilisation of the proceeds that you borrow. Now if you are able to borrow any amount, and people benefit from what you have borrowed in terms of infrastructure, in terms of project in terms of appeasement of their livelihoods, then the reason for that borrowing has been met. But anytime you borrow funds and you don’t see them, then it means that there is a disconnect and that is where the problem is and that is why we are not happy with what we had inherited. We inherited federal government loans, facilities. These include the bailouts. You know that there was a bailout granted during the last administration? There were bailouts to state and local governments that rose to N11 billion, which we inherited. What is this administration doing to alleviate people from poverty? For poverty alleviation, as you know, I mentioned the industrial part, that itself is a source of ensuring that we engage our people by providing jobs for them, provide jobs for the youths and also provide revenue for the state. Aside that, we have other small and medium enterprises projects and incentives that we are also using for poverty alleviation. There is a small mini-industrial area within the state capital, which has been provided with all the facilities and when you find a lot of groundnut millers, they are doing businesses, making ground nut oil and also small rice mills there that are also helping, you know, that place is a government incentivized area. Last year, we had a training for all our small, medium scale enterprise industries to provide them with information and knowledge about how to go about their businesses, how to grow their businesses, and also government is going to provide funding for different categories for this particular group of people, the N10, 000, N50, 000, depending on your businesses. All of that data have been collected and it is our hope that between this end of this year and the first quarter of next year, these payments will also be done.
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Alaghodaro Summit: Showcasing Investment Opportunities, Engendering Economic Prosperity in Edo State The buildup to this year’s Alaghodaro Summit, slated to commence on Friday, has reached a feverish pitch. Apart from consolidating on years of building a vibrant private sector-led economy, the Governor Godwin Obaseki-led administration sees the summit as a veritable platform to showcase investment opportunities in Edo State, and provide a pivot for economic prosperity. Eromosele Abiodun reports!
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n mounting the saddle as Governor of Edo State on November 12, 2016, Mr. Godwin Obaseki, espoused plans for resetting the state’s economic base as well as restoring the dignity of Edo people, anchored on six thematic pillars of socio-economic development. Five years after, the shape of economic transformation is discernable in Edo State. The governor, being a technocrat, strategist and silent workaholic would rather allow his performances speak for him as he strives to create a win-win outcome for the Edo people. One of the ways the governor has been able to bring development to Edo State is the deliberate move to make the state economy private sector-led. To make the effort sustainable, he introduced the Alaghodaro Summit, a forum where top private sector players in Nigeria and diaspora gather to share ideas and explore investment opportunities in the state. In a season of declining oil revenues, Obaseki believes that Alaghodaro is a strategic response to confront challenge through innovation by moblising human and private capital to open up non-oil sectors such as agriculture, mining, sports, technology, entertainment, arts, culture and tourism. He is correct. By being forward-looking and coming up with a strategic intent for creating wealth and prosperity for the Edo State people, Governor Obaseki is bringing his wealth of experience in the private sector, especially his investment-savvy credentials, to bear on his economic transformation agenda in Edo State. The Alaghodaro Summit is an annual event held to showcase the developmental strides of the government, unveiling the numerous reforms and initiatives that have created opportunities for prosperity – driven by Edo people and the state’s burgeoning investors – and opened up the space to interrogate and challenge conventions that impede progress, with a view to correcting them. In addition, the summit over the years explored how Edo State will leverage its competitive advantages in the different sectors for sustainable economic growth. This year’s summit is aimed at consolidating on years of building a vibrant private sector-led economy by the Governor Godwin Obaseki-led administration, showcasing investment opportunities and engendering economic prosperity in the state.
DANGOTE, OTHERS EYE INVESTMENT OPPORTUNITIES IN EDO STATE As Edo readies for the Alaghodaro Summit 2021, big-ticket investors, including the Dangote Group, Okomu Oil Plc and Presco Plc have declared interest to wholly participate in the summit, leveraging the platform to tap into the investment opportunities created by the business-friendly disposition of the incumbent government in the state. The summit, now in its fifth edition, is scheduled to take place between November 12 and 14, 2021, driven by the theme, “Edo of Our Dreams: Building a Sustainable Future.” The annual summit, to mark the governor’s anniversary in office, showcases investment opportunities in the state and the numerous achievements, reforms and initiatives by the administration to improve the living standards of the people. Chairman, Marketing and Branding SubCommitee, Alaghodaro 2021, Crusoe Osagie, in a statement said, “Already, top private sector players in the state and across the globe, like Dangote Group, Presco Plc and Okomu Plc, among others, have declared interests in the summit, with plans to leverage the businessfriendly environment and the opportunity for exchange of ideas with the private sector created by the state government to tap into Edo’s rich investment opportunities.” He noted that the state has gotten an avalanche of requests from the organized private sector players, who are poised to clinch vantage positions at the summit to reap from the gains of the conducive-business environment provided by the government.
Strategy, Policy, Projects, and Performance Management), Sarah Esangbedo AjoseAdeogun, while Senior Digital Development Specialist, World Bank, Ms. Ida Mboob will serve as moderator for the session. The panel session, with the theme, “Empowering the Next Generation through Innovation and Digitalisation,” will also discuss the specific programmes, policies and projects undertaken to fast-track the state’s position as the technology hub of Nigeria and highlight the areas that require additional measures from public and private sector stakeholders to accelerate the growth of innovation and digitization in the State. Osagie noted, “Since the inauguration of Governor Godwin Obaseki in 2016, His Excellency has invested in empowering Edo youth as a cardinal objective of his administration, with a focus on technology and innovation. “In line with this vision to make Edo State the “Silicon Valley” of South-South Nigeria, it has established a well-designed innovation hub to support the growth-oriented entrepreneurship within the State, where over 27,000 individuals have benefitted from Information and Communication Technology (ICT) certified training, start-up acceleration and access to employment within the ICT sector as well as a conducive workspace environment for start-ups and SMEs provided by the Centre.’
IVM LEADS OTHERS TO SUMMIT
Obaseki According to him, “This year’s summit promises to be even more exciting, as it will showcase a number of the transformative policies and programmes by the state government targeted at further easing up the space for private investment and building a productive, efficient and result-driven civil and public service. “While Okomu and Presco are poised to expand their plantation, Dangote is planning to accelerate its investment in the solid mineral sector, especially with its cement manufacturing plant, which is already operational in the state. “Governor Obaseki has continued to prioritise inflow of investment into the state with bold and investor-friendly policies, which has resulted in the setting up of a number of industrial plants, including modular refineries, gas processing plants, energy parks, an inland dry port, among others,” Osagie noted.
OTHER AREAS OF FOCUS Osagie said the Edo Modular Refinery, the CCETC-Ossiomo Power Plant, and the Edo Production Centre, among other projects to open up Edo’s industrial sector, will be the focal point of this year’s Alaghodaro Summit, as top manufacturers, business owners and other industry stakeholders converge to explore opportunities in the state’s thriving industrial sector. He said the Obaseki-led state government has continued to support the state’s manufacturing and industrial sector, ensuring the provision of the right incentives to drive productivity. “These incentives, as well as reforms and projects like the Edo Modular Refinery, the CCETC-Ossiomo Power Plant, and the Edo Production Centre, among others, to open up the space for private investment in the manufacturing sector, will be brought to the fore at the Alaghodaro Summit 2021. “The summit will serve as a platform to bring together local and international manufacturers as well as other industry
leaders to review and explore opportunities in the sector,” Osagie added. The well respected strategist stated further: “The Alaghodaro Summit, over the years, has created opportunities for more investors to come into the state to tap from the state’s rich investment opportunities, and this year is no exception. “With the expanding CCETC- Ossiomo Independent Power Plant that has now opened up the electricity market in Edo State to drive industrial growth and attract private investors, and the 1000bpd Edo modular refinery, which is now ready for production, the state is even more positioned to becoming a business destination haven. “Also, in the Edo Production Centre, which is now being expanded to the three senatorial districts in the state, we have ensured the provision of a conducive environment for production, with electricity, water, security and other basic infrastructure. This we did to drive industrial development, provide job opportunities for youths and create wealth for our people. “We believe that this year’s Alaghodaro will be even more exciting, as we expect the convergence of local and international manufacturers and other industry stakeholders who are eager to leverage these opportunities created by the Obaseki-led state government,” he restated.
OPPORTUNITIES IN DIGITAL ECONOMY The Director, Strategic Partnerships, Decagon Limited, Mr. George Imoedemhe; and Chief Executive Officer, e-Scape Technologies Limited, Mr. Chris Abhulimen; are among global tech experts listed as panelists to unlock opportunities that exist in the digital economy and outline a pragmatic approach to harnessing them for Edo youths, during this year’s Alaghodaro Summit. Other panelists are Co-Founder, Farmforte Limited, Mr. Osazuwa Osayi and Special Adviser to the Edo State Governor on
It has also emerged that Nigerian indigenous motor manufacturing company, Innoson Vehicle Manufacturing (IVM) will lead other top players in the nation’s automotive industry to the Alaghodaro Summit 2021, scheduled to take place between November 12 and 14, in Benin City, the Edo State capital. According to Osagie, “We are glad to announce that Innoson Motors will be leading other top players in the automotive sector to this year’s Alaghodaro Summit to benefit from Edo State. The government is already in talks with the indigenous automobile manufacturing company in converting PMS cars to CNG, leveraging the availability of electricity in the state, as we are aware of its positive impact on the state’s and nation’s economy. This is also seeing that the Edo Auto Park is being developed in the state. “Our youths are also going to benefit in this regard as they will be trained on various skills including panel beating, auto-mechanics, painting, and electricals, among others.” “The summit will be a win-win situation for our burgeoning investors and the state and its people. All is set to ensure a stimulating outing this year as we have lined up exciting programmes to create memories in the minds of attendees, including the investment summit, commissioning of select projects, the mega youth concert, a golf tournament, praise night, among others,” Osagie added. “Edo State, under Governor Godwin Obaseki, in the last five years, has witnessed tremendous progress as the government has enacted people-centric reforms and executed life-transforming projects targeted at developing the state and creating a conducive environment for businesses to thrive. “This is the basis on which investors have continued to throng into the state to benefit from the business-friendly environment provided by the government. This year’s Alaghodaro Summit presents yet another opportunity for investors to harness the rich business potentials of the state.” Undoubtedly, the pioneering drive of the Obaseki administration will eventually become a template on people-oriented governance across the nation. It is well steeped in fiscal independence and provokes the need for state governors to completely innovate and think out of the box. The era of going cap in hand to Abuja for monthly handouts should become a thing of the past. Such monthly allocations ought to be considered as residual revenue, while focusing on non-oil sector revenue to accelerate developments in their respective states.
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Barkindo: Africa’s Oil Refining Capacity to Hit 5m bpd by 2045 Emmanuel Addeh in Abuja Nigerian-born Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, said yesterday that Africa’s oil industry holds significant opportunities for growth, with refining capacity expected to grow from about 2.4 million barrels per day currently to around 5 million bpd by 2045. Speaking at the African Energy Week organised by the African Energy Chamber in Cape Town, South Africa, Barkindo stated that the continent with a young and vibrant population is forecast to be the leading region by overall population, adding 762 million people in the period 2020-2045. Home to five of the top 30 oilproducing countries in the world , Barkindo argued that the world will continue to rely on Africa’s precious resources in the long term in order to meet the rapidly rising global demand for oil and gas. In 2019, before the COVID-19 pandemic broke out, Barkindo stressed that Africa produced ap-
proximately 8.5 mb/d of oil, which is around 9 per cent of world output, restating that the continent’s proven oil reserves amounted to around 126 billion barrels at the end of 2019. “Of this, Nigeria held the majority with an estimated 36.9 billion barrels, or 29 per cent, of the continent’s total reserves,” he noted. “Looking ahead, from 2021 to 2026, we expect to see around 6.9 mb/d of new refining capacity come online, mostly in the Middle East, Asia-Pacific and Africa. Africa’s potential refining capacity is expected to start increasing in 2022 at just below 0.4 mb/d, before reaching just above 1 mb/d in 2026. Many of these projects will involve petrochemical integration. “Looking longer term to 2045, OPEC forecasts 14 mb/d of capacity additions, mostly in developing countries. In Africa, long-term demand growth will lead to an increase in refinery throughputs of almost 5 mb/d in 2045, up from 2.4 mb/d in 2019,” Barkindo projected. With global refinery utilisation rates forecast at a rate of 81 per cent in 2024 and slightly lower by 2026, he stated that in the longer term, utilisation rates are expected to
drop to approximately 76 per cent in 2045 as more capacity comes online and demand declines in developed regions, which will result in additional closures in order to maintain rates at sustainable levels. These overall developments he said will positively impact the African downstream, helping to increase local refined product output while reducing product imports from other regions. “In terms of downstream investment, we estimate a total of roughly $1.5 trillion will be spent during the period 2021-2045 of which $450 billion will be invested in new refinery projects and expansions of existing units. Most of these projects will be located in developing countries, including Africa.
“Indeed, the importance of creating an investment-enabling environment is a further key conclusion from the World Oil Outlook (WOO). Cumulative oil-related investment requirements amount to $11.8 trillion in the 2021-2045 period. “Of this, 80 per cent, or $9.2 trillion is in the upstream, with another $1.5 and $1.1 trillion needed in the downstream and midstream, respectively,” he added. Barkindo noted that the world cannot talk about Africa’s energy future without discussing the twin challenges of sustainable development and climate change, describing them as two sides of the same coin. According to the secretary general of OPEC, the unfortunate reality for developing countries
is that a staggering 759 million people worldwide did not have access to electricity in 2019, with around 79 per cent of them located in Africa. Moreover, he said that there were roughly 2.6 billion people or 34 per cent of the global population who did not have access to clean cooking fuels and technologies, including a massive 70 per cent of Africans , exposing them to high levels of household air pollution. “The energy poverty numbers for Africa are stark. And to add in one further number, Africa accounts for only around 3 per cent of global emissions. These factors need to be carefully considered at the ongoing 26th UN Climate Change Conference of the Parties
(COP26), currently taking place in Glasgow,” he maintained. Insisting that OPEC believes that there is no “one size fits all” solution to addressing climate change, he pointed out that different countries around the world have varying capabilities and diverse needs. Thus, Barkindo said, reducing emissions should have multiple paths, as set out by the Intergovernmental Panel on Climate Change (IPCC), and all of them should be regarded as potential options. He reiterated the need to encourage the deployment of Carbon Capture and Sequestration technologies (CCUS) and other innovative methods of reducing emissions, rather than the wholesale abandonment of fossil fuels.
Coronation Insurance Assets Hit N41.15bn Ebere Nwoji Coronation Insurance has posted total assets of N41.15billion at the end of the third quarter of 2021 as against N39.72billion recorded in same period of 2020. This is just as the underwriting firm settled N4.16billion claims of its policyholders from January to September 2021. The information is contained in the company’s unaudited interim financial results for the year 2021 third quarter ended September 30, 2021 signed by its Chairman, Mutiu Sunmonu. According to the report, Net premium income increase to N6.63 billion as against N5.54 billion recorded same period of 2020 while net underwriting income grew to N7.29 billion against N7.25 billion recorded in the third quarter of 2020. Comparing the underwriters claims paid in third quarter 2021 to 2020, the result shows that the company has maintained its integrity in the insurance sector as the firm settled N4.25billion claims within the period in 2021 as against N2.74billion in same period of 2020. Comparing the underwriters claims paid in third quarter 2021
to 2020, the result shows that the company has maintained its integrity in the insurance sector as the firm settled N4.25billion claims within the period in 2021 as against N2.74billion in same period of 2020. However, the company’s Gross premium written stood at N11.06 billion within the period of 2021 compared to N13.26 billion recorded in 2020 while gross premium income stood at N10.37 billion against N12.85 billion posted in the previous year. Profit before tax stood at N685.2 million compared to N1.19 billion posted in the comparable period of 2020 while profit after tax recorded N711.1 million against N992.7 million written in the previous year. The Underwriting expenses to N1.94 billion compared to N2.10 billion recorded in the period under review of 2020, while investment income recorded hit N1.33 billion against N765 million recorded in the previous year. The Underwriting expenses to N1.94 billion compared to N2.10 billion recorded in the period under review of 2020, while investment income recorded hit N1.33 billion against N765 million recorded in the previous year.
L-R: Managing Director, China National Offshore Oil Corporation (CNOOC) Exploration and Production Nigeria Ltd,Mr. Li Chun Sheng; Executive Commissioner, Exploration and Acreages Management,Nigerian Upstream Petroleum Regulatory Commission (NUPRC),Ms. Rose Ndong;Commission Chief Executive,Nigerian Upstream Petroleum Regulatory Commission, Mr. Gbenga Komolafe; and Outgoing Managing Director, China National Offshore Oil Corporation (CNOOC) Exploration and Production Nigeria Ltd, Mr. Vincent Xie, during the courtesy visit of CNOOC Management to the Commission Chief Executive PHOTO: ETOP UKUTT at the NUPRC office in Lagos… recently
New NCRIB Boss Assures Insurance Brokers of Purposeful Leadership The new president of the Nigerian Council of Registered Insurance Brokers (NCRIB), Rotimi Edu, has assured Insurance Brokers of purposeful, selfless, focused and leadership style during his two year tenure as the 21st president of the association. He also unveiled five point agenda that will dominate activities during his two years tenure as the president of the brokers’ umbrella body. The new president gave this assurance during his inaugural speech. He admitted that leadership was a continuum, requiring that every successive tenure built on the previous ones and said it behooved him to evolve a wellconceived thrust of office, which
ultimately would become the trajectory of office and benchmark for his accomplishments in office. “Having engaged in wide range consultations amongst members of the Council and some seasoned and well-meaning professionals, I have come up with BROKER CENTRICISM as the focus of my tenure as President. This focus connotes that the Insurance Brokers’ welfare, progress and development, irrespective of their location and sizes would be the vortex of all decisions and actions that would be taken throughout this tenure, God helping me, “Edu stated. He said it was the intention of his team to be highly creative in stimulating ideas that would lead to financial solvency of the
Council aside from the traditional subscription of members, which was fast dwindling. He added, “If follows that if individual insurance brokers would be solvent, the Council must make strident efforts to ensure it complements all relevant institutions, including NAICOM for deepening of the insurance sector.” He enumerated the five point agenda, which his administrative activities would revolve around as Professionalism, promising that as hallmark of all professions is in the continuous acquisition of knowledge and openness to new and evolving knowledge, Insurance Broker could definitely not be an exception. According to him, his tenure
would open channels of training needs for it members within and outside the country. “We would also open up relationship with new ones. Being the main professional in the insurance value chain, the broker under my tenure would be an encyclopedia of knowledge and professionalism, “he said. He highlighted another agenda of his administration as Strategic Government and Institutional Relations. He noted that the Council had recorded phenomenal feats in strategic government relations under the immediate administration adding that doors in government houses, Palaces and renowned institutions were opened for the NCRIB by past administration.
GNI Boss Attributes Firm’s Positive Performance to Quality Service Delivery Firm Launches Digifon Wireless Entertainment, Ebere Nwoji Managing Director, Great Nigeria Insurance Plc, Mrs. Cecilia Osipitan, has attributed current significant improvement in the operations and financial performance of the company to the company’s unflinching commitment towards service delivery. In a statement, the GNI boss posited that the underwriting firm was on the trajectory of achieving and even surpassing its target for the financial year, adding that its focus on delighting its customers remained at the forefront of all its business activities and interventions. According to her, there is no compromise to exceptional service delivery in Great Nigeria Insurance Plc because the major focus of the company was to ensure that its esteemed customers got to enjoy top-notch service at every touch point of the brand.
Osipitan stated that despite the challenging business and economic environment that emerged from the slow pace of activities following the global lockdown occasioned by the coronavirus pandemic; the organisation was optimistic of actualising its enterprise goals. “We remain committed to prudent growth of our business, responsible risk appetite, quality of our balance sheet and the overall wellbeing of our organisation; our commitment to uphold our Vision and Mission has made the company one of the country’s most relevant and responsive insurance companies in the country,” she stated. She further mentioned that, customer satisfaction remained the guiding strategy for business continuity; adding that Great Nigeria Insurance Plc was poised to ensure the delivery of exceptional quality service to all its valued customers.
ICT Devices into Nigerian Market Sunday Okobi Wireless Technology WTG IT Solutions has launched its latest Canada-standard Digifon Boom Series, ICT wireless device, fast chargers, and premium USB cables into the Nigerian market. The firm stated that it’s set to trill the Nigerian consumers and music lovers with the comeback of pioneer Canadian-based wireless technology solution provider, Digifon, as they team up with certified leading retailers and operators in the country to launch its new set of wireless devices. WTG highlighted the latest products to include the BoomAir and BoomAir Pro (True Bluetooth earpod), Boom-Q and BoomMax Waterproof Rugged Speakers, the Cheetah fastest chargers and USB
cables, which it noted are the rave of the moment in the phone accessories and wireless device market. While speaking to journalists during the launch of the products in Computer Village in Ikeja, Lagos, the WTG Marketing/Sales Manager, Ms. Grace Uche, said since 2001, Digifon has dedicated itself to developing premium, unique wireless devices that are most effective when compared with the quality of other brands due to its understanding of how to satisfy end-users as well as offer unique market requirements for the marketplace. “The Digifon brand was developed in 2001 by Nigerian-Canadians, who have been successful in the wireless global marketplace. The brand’s custom design products are targeted to suit any market
requirement. We understand the unique needs of Africans and we are committed to bridging the digital divide between Africa and the western world,” she said. Also, according to the Founder and Chief Executive Officer of the Digifon brand Parent Company, WTG IT SOLUTIONS, Mr. Rowland Dapo Okotore, “The average Nigerian consumers have constantly been abused by the poor quality of products offered to them in the market, and we at Digifon are very selective and are much concerned with enabling users experience the best quality of audio and music from their mobiles phones, tablets, laptops or as a standalone media player with our audio products. Our goal is to enable Africans to improve their lifestyle with compelling devices.”
He added: “What new users need to know is that our products are of the Northern American standard and built to last and withstand any condition. This is also an attested fact that distinguishes us from the many brands out there, and it’s the more reason why our products stand out.” Highlighting the uniqueness of the Boom-Q and BoomMax Speakers, Uche described the latest series of these speakers as rugged waterproof devices with an exceptional sound quality and clarity that allow users have a great audio listening experience. “Furthermore, this series allow users to play music as a standalone system; both are ideal for conference calls, watching movies from tablets, computers and very portable to carry around,” she stated.
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Implementing Robust PIA Eniola Olakunri “Sound judgement, with discernment is the best of Seers” -Euripides (famed Ancient Greek Tragedian)
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ince President Mohammed Buhari signed the Petroleum Billinto law on August 16, 2021, there has been growing unease among oil industry workers,most of whom are anxious about what the futureholds for themin the immediate. In his bid to douse the tension occasioned by some aspects of the newly enacted Petroleum Industry Act (PIA), Petroleum Resources Minister, Chief Timpriye Sylva, recently took it upon himself to address the concerns of Staffers of the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA) and Petroleum Equalisation Fund (Management) Board. At each stop, he explained that workers have nothing to fear as their jobs, emoluments and entitlements are protected by law. He also assured all that all assets and liabilities of the now-defunct Agencies would be absorbed by the two newly formed Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in line with the provisions of the Act. Chief Sylva also seized the moment to assure contractors that all subsisting obligations with the now outed Agencies would be met and there was no need for the seemingly panic blitz spreading over certain areas of the oil industry. Industry observers have commended the Ministers move to a large degree as workers could now heave huge sighs of relief given the fact that they are not about to be thrown into the unemployment market. It was also reassuring that the Chief Executive Officers of the NUPRC and NMDPRA - Engineer Gbenga Komolafe and Alhaji Farouk Ahmed respectively - accompanied the Minister on the visits with other important Executives of both organisations also present. To be sure, the PIA has been long in coming and most industry stakeholders have lauded
its enactment; engineered to bring a sound legal, fiscal and regulatory framework to bear on the business activities within the Nigerian petroleum industry. No sooner was the bill signed into law that President Buhari sought an amendment to the PIA through the National Assembly, on the administrative structure(s) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The President requested an increase in the number of non-executive members on the boards of both institutions from 2 to 6 apiece. “I am of the view that this membership limitation does not address the principle of balanced geopolitical representation of the country. I, therefore, pray for the intervention of the Ninth National Assembly to correct this oversight in the interest of national unity” he said in defence of his position. He went on “...if this amendment is approved, it will now increase the number of non-executive members from two to six. That is one person from each geo-political zone. The Commander-in-Chief further proposedto remove the Petroleum and Finance Ministers from the boards of the NUPRC and NMDPRA. According to him, “the two Ministers already have constitutional responsibilities of either supervision or intergovernmental relations that will continue to perform such roles without being on the board...” To underscore the seriousness the Buhari administration places on the speedy implementation of the PIA, the President was presented with the Certificate of Incorporation of the newly minted Nigerian National Petroleum Company in line with the provisions of the new law, on October 8th, by the Group Managing Director of the extant Nigerian National Petroleum Corporation(NNPC), Alhaji Mele Kyari, at the State House, Abuja. For the President, the incorporation of the successor company to the NNPC represents
“a significant milestone in our quest to create an enduring National Energy Company that can compete with its global peers and deliver value to shareholders, the Nigerian people”. He noted that he expected a speedy transfer of assets, human and material “...without wasting time to capitalise the company as required by the Petroleum Industry Act” The registration of the newly sculpturedNNPC took 24 hours to accomplishaccording to Alhaji Garba Abubakar, the Registrar/Chief Executive Officer of the Corporate Affairs Commission(CAC), and it is the company with the largest capitalisation ever ( 200 billion), in Nigeria. For emphasis, a Steering Committee was constituted by the Federal Government not long after the enactment of the PIA and was given one year to implement its (PIA’s) provisions. That timeline must have been decided upon, given the daunting tasks the alignments and re-jigging of the workings of the relevant Ministries, Departments and Agencies would entail. Needless to say, the Committee has it’s job cut out. Besides, the operations in the downstream sector are not without their challenges. The NNPC is currently the sole importer of petrol and it is in charge of its storage to a large extent. Yet, figures on the daily consumption of the product vary depending on the organisation the question is directed at. The PPPRA in April this year gave a truck out figure of 80.23 million litres a day; the NNPC, barely two months after, indicated that daily consumption has risen to some 103 million litres. The Petroleum Minister later walked that back, attributingthe jump as a “flash” due to increased activities of smugglers. He gave a 52 million daily consumption figure as appropriate. Yet, the inner workings of PEF(M)B peg Nigeria’s daily consumption at 30 million litres a day. It is believed that a better and more harmonious figures could now be reached on Nigeria’s daily fuel consumption pattern, given the fact NMDPRA is now directly in charge. As a measure of curtailing the activities
of nefarious goons in the downstream sector, the NNPC had initiated “Operation White” in October 2019 to track fuel importation/ distribution, and to check smugglers and diversion of petrol. This initiative needs to be given the necessary pump in order to bring the issue of petrol smuggling and diversion to the barest minimum. The salient issues posited above and sundry others needto be addressed by the Steering Committee and its Implementation Working Group/ Coordinating Secretariat, to make for efficient, effective and robust full PIA implementation. Anything short of systematic and well-rounded implementation processes would hamper the delivery of a sound post-PIA-enactment delivery at a greater cost to the nation. Another area of concern that should be of utmost interest to those in charge of Petroleum affairs is the need to attract needed long-term investment into the nation’s oil industry. According to a July 2021 KPMG report, “....only 4 percent of the $70 billion investments made in Africa’s oil and gas industry was in respect of Nigeria, even though it is the biggest producer and has the largest reserves on the continent”. Going further, the PIA is silent on the widelyanticipated world’s transition from fossil fuels to clean energy. The International Energy Agency (IEA) is aggressively pushing for “Net Zero” carbon emissions by the year 2050. Even though Vice President Yemi Osinbajo lately affirmed that Nigeria is aboard the IEA 2050 transition train to Zero Emissions, great attention and commitment must be made in this regard by the Federal Governmentas this is the way of the future. 2050 is just 29 years away, and it won’t be augur well for the nation to still continue the old ways of doing things when the rest of the world is taking advantage of new opportunities. t&OJPMB 0MBLVOSJ B %JSFDUPS PG 0BUT (MPCBM &OFSHZ BOE QVCMJD TFDUPS BOBMZTU XSJUFT from Abuja FOJPMBPMBLVOSJ!HNBJM DPN
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EDUCATION Afolayan: Outcome-based Education Will Help Graduates to Create Jobs Joseph Afolayan is the pioneer Vice-Chancellor, Anchor University, Lagos. In this interview with Funmi Ogundare, the professor of Civil Engineering explained why tertiary institutions in Nigeria should drive outcome-based education to equip graduates with the necessary skills to be job creators rather than seekers, among other issues. Excerpts:
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graduates globally relevant? The OBE concept that we drive is in line with the mission of the university that will ensure relevant knowledge, skill and attitude that will help them be self-reliant. As a university that believes in a blend of character and learning, we also impact them godliness that will make them have integrity wherever they go eventually in life. And for those who want to continue in academia, when they do research, they should be competitive. That is the kind of training we give here, and we have seen some elements of success in imparting relevant knowledge that we give here. Just last year, two of our students participated in the science and technology innovation competition that took place. From about 511 submissions received from all tertiary institutions in Nigeria, two of our students were considered. At the end of the day, the best six institutions in Nigeria were selected, and they went for the grand finale at Bayelsa State, and Anchor university was one of the top six. That means the knowledge we have imparted in them assisted them in thinking deeply and bringing on board competitive ideas. We believe that our products are very proud of the quality of training they got here.
ince you came on board, how are you steering the ship of the faith-based Anchor University, Lagos? The kind of support that has helped me as an individual to do whatever has been done, to the level where we are today, is, first of all, the grace of God because it is a faith-based university. Without it, we cannot go far. Secondly, we have a well-defined vision that determines the direction where we go. Thirdly, I have the support of team members who are well-informed and believe in the university’s vision. So we have been able to run together. Fourthly, this is a private university. We have the support of our proprietor. These are the things that actually assisted us to be where we are today. How many courses has NUC accredited, and what effort is the management making to offer more? As of the time we got the license to practice as a university in November 2016, there were 15 programmes approved for take-off. We started academic activities in February 2017 when the university actually took off. That was the date I assumed office as the pioneer VC. With the 15 approved take-off programmes, we started admitting students. But we were only able to have students for 13 out of the 15 programmes. By the NUC requirement, three years after the take-off of any programme, there should be preparation for accreditation. All the 13 that were matured for accreditation were presented between October and November 2019. Of the 13 courses, 11 received full accreditation status, while two (Physics and Economics) had interim. With the interim status, the overall scores for the two of them were well above 80 per cent. But because there were different factors that have to be put in place for accreditation. If you have less than 70 per cent in any of them, even if overall you have 90 per cent, you cannot have full accreditation. The NUC was not satisfied with the level of staffing for Physics and Economics. They felt that there were some books they expected in our library, which were not there then. But by the grace of God, if they come tomorrow, we are set for the full accreditation of these two courses now. For a young institution, what were your teething problems, and how did you overcome them? One of them has to do with students enrolment. I have worked in public universities before, so there are some programmes that generally some prospective students don’t want to go into because they feel that they are not selling in terms of job opportunities. People don’t want to subscribe to them. At Anchor University, because of the training and philosophy, which we call Outcome-Based Education (OBE), we believe that whatever programme they go to and graduate from, they should not be looking for jobs. But they should be job creators and even engage other people. We are currently doing strategic marketing procedures. In 2018, we approached NUC with additional academic programmes. We proposed 15, and 14 were approved for us. It is one of the ways of solving students’ enrolment. The other thing is staff recruitment. It is a challenge on two grounds. The first one is that this is a private university we just started, and many staff will still prefer to stay far off to see the university’s sustainability before they can be part of us. That challenge was there, but eventually, God assisted us to recruit more qualified staff, particularly after we got accreditation. So people got to know that Anchor meant business. So we began to receive applications from people. As a faith-based school, recruitment of staff for a university that is just starting, we needed people who believed in the university’s core values. That means it is not just bringing in people anyhow. We must access
Afolayan them through interviews. By the grace of God, people have started seeing that Anchor has come to stay as a university. There are some other areas of our development, too, that I believe encouraged prospective staff to desire to keep to the university’s mandate, especially in our collaborations. Is there collaboration with international institutions, and how’s that impacting the university and students? We have collaborations with institutions and organisations within and outside. As I talk to you, we have established linkages and relationships with institutions in five continents of the world which I believe is an encouragement for those that want to be part of us. As a result of the terms of the collaboration on staff and students exchange, our collaborations are very active. For instance, one of the collaborations we have with an institution from the University of Colorado in America has led to the establishment of Anchor Laboratory for Interdisciplinary Statistic and Data Science in our university. As of the time of establishing the laboratory, it was the third of such in the whole of West Africa. It has been helping to train people in the industry in data analysis, interpretation and application. Another one is our collaboration with the Centre for Space Physics from India. Currently, we have a laboratory devoted to that. We conduct research and atmospheric information. Such information and data will help in planning flights. We have a situation where flights are cancelled because of bad weather. The radio station also needs weather forecasts and atmospheric information for the propagation of their waves. So people who need such data can come to the centre. We have facilities for the collection of data for that purpose. We also have collaboration with New Horizon System, which is for IT training of our students that will ensure that all our students from 100 to 400 level are empowered, relevant and competitive by the time they graduate. There is a centre
devoted to that purpose that all our students go through for IT certification that will further help them to project and deepen their training. How do you get funding aside from school fees? Mainly as a private university, most of our capital projects are supported by the proprietor, Deeper Christian Life Ministry. We also have support through collaborations and research. For instance, we have some research fellows on our campus who are given research grants. Based on such research grants, activities are enhanced, and equipment is brought to the university, which has impacted the training of our students. During the peak of the COVID-19 pandemic, institutions were forced to close down. How was your university able to scale through? Coincidentally when the problem came up in 2020, we had concluded the first semester of the 2019/2020 academic session. We were just planning to resume the second semester when the lockdown was enforced. Anchor University is ICT-driven. Even before the Covid-19 issue, we had started virtual lectures and interacting with our students in a skeletal way. So when the pandemic came up, we went into full-blown of our virtual classes. We interacted with parents, students and we had internal training of staff to be able to meet up. So our second semester was fully held virtually. We also had our examinations. The aspect we couldn’t do virtually had to do with practicals. When the lockdown was relaxed, we brought back our students, but we had to stagger them and observe the COVID-19 protocols. What is the students’ population? Currently, we are about 600. We recently graduated 63 pioneer students, out of which 23 had first-class honours. What efforts are you making to make
There’s a value system crisis. What’s the reason, and how can that be tackled? The belief of the founding fathers is to checkmate on character degradation you see among the youths and to be able to do that. Our motto is ‘character, competence and courage’. Whatever one wants to do and become in life, the character is very important. If somebody is charismatic, knowledgeable, and competent but doesn’t have good character, he will use the bad character to rub off his competence. In Anchor university, one of the things we do, apart from very serious academics, involvement and engagement of our staff and students, we also create time to meet and listen to the words of God because it is the basis of character transformation. On a weekly basis, we have the opportunity to go through that. There is a compulsory course that we also run, Total Man Concept, that every student must offer. In that course, the totality of a man is addressed. They are exposed to the spiritual aspect, physical and social aspects, how to develop and carry yourself with impact and influence your environment. Nigeria’s unemployment rate is about 33 per cent. What’s the university doing to curb the scourge? One of the challenges of unemployment in Nigeria is the issue of improper training of graduates. If I relate it to graduates of universities, the general belief that when you graduate, you must look for a job, that mentality has led to unemployment. But with the OBE, when well driven, people will look for you. If an organisation needs to engage only five graduates and 400 show up, they give them a written test before the oral presentation. So for somebody who is well baked, he will compete with others, knowing that he is well equipped and has been taught all the relevant skills for employment. Today, we have the quantitative and qualitative skills which most employers look for. So if you can meet both requirements, of course, you will be able to stand out. The way forward is for our institutions to drive Outcome-Based Education (OBE), where the real skills are taught. We have the soft and hard skills that would prepare the products in a way that they would be ready for the job market. For instance, in Anchor University, before convocation, some of our students who graduated were called back where they did internships. So they started working even before they were mobilised for NYSC. If they didn’t get something out of this place, I am not sure the organisation will want to retain them. Our tertiary institutions should seriously follow the outcome-based education concept.
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EDUCATION
Seplat PEARLs Quiz: A Decade of Boosting Education in Edo, Delta
L-R: Geologist, NPDC/Seplat Energy JV Asset, Hajarat Lawal; Base Manager, Western Assets, Seplat Energy Plc, Emmanuel Otokhine; winner, 10th Seplat Energy/NPDC JV Pearls Quiz, Peniel Academy Agbor; CSR Manager, Seplat Energy, Esther Icha; and Commissioner for Secondary Education, Delta State, Mrs. Rose Ezewu, at the Seplat Energy/NPDC JV Pearls Quiz final at the Government House, Asaba... recently Uchechukwu Nnaike
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ith the goal of enhancing academic performance in its host states and the country in general, Seplat Energy Plc. has for the past 10 years, been organising the PEARLs quiz for secondary school students in Edo and Delta States. The competition is among other annual programmes and projects that usually gulp millions of naira and also meet Global Memorandum of Understanding (GMoU) and best practice. The company began the PEARLs quiz empowerment initiative involving all secondary schools in its host states in an all-round curriculum quiz competition in 2012 after it made major debut in the oil and gas industry. It has since targeted rural and urban schools in its host communities as a way of improving the educational standards of students in both states. Participation for the programme is open to all secondary schools in Edo and Delta States and the competition holds at the school level along the line of the senatorial zones and ends at the states level to determine the winners. The quiz contest comprises selected questions in various subjects following approved school curricula. At the end of the final stage, the three top performing
schools and the winning students are rewarded with various prizes. The PEARLs Quiz programme which is implemented in collaboration with the Ministry of Education in the respective states is expected to stimulate healthy competition among schools in the designated area; encourage learning and reward outstanding academic performance. The initiative by Seplat Energy has been described as a step in the right direction, considering the role of youths in the development of the country. The company has taken a deliberate decision to target the youths with the programme because young people represent the future of any community and the nation, as youths are active and need to be assisted to channel their energies towards the right direction. They also need to be encouraged to embrace the spirit of scholarship and supported to understand and appreciate the fact that there is good reward for scholastic excellence. The company has committed significant resources to meticulously craft the programme to rekindle the spirit of academic excellence and healthy competition in private and public schools in both states. Apart from cash prizes to the winning schools, it has delivered various projects to schools through the PEARLs quiz initiative over
the years, which include language laboratory, roofing projects, decked block of classrooms, interlocking stones for an entire school premises to prevent erosion, computer laboratories in different schools, among others. The company recently concluded the 10th edition of the Seplat Energy Pearls Quiz, at the Government House Asaba, Delta State with Peniel Academy, Boji Boji Owa, Agbor, Delta State emerging the winner. Two Edo schools, Pioneer Education Centre and Igbinedion Education Centre, also came second and third positions respectively. Peniel Academy smiled home with the star prize of N7 million, as well as a trophy; and the three students that represented the school got N100,000 each. Pioneer Education Centre got N3 million, a trophy, and its three students got N75,000 each; just as Igbinedion Education Centre got N1 million and a trophy, while its three students got N50,000 each. At the end of the keenly contested quiz competition, every teacher from all the participating schools got a tablet, while the teachers of the four finalists received a laptop each. The students’ performance was applauded by Edo and Delta State functionaries and management of Seplat Energy that witnessed the ceremony. Goodwill messages from Delta State government and NPDC were mixed
with commendations for Seplat Energy, as other corporate bodies were urged to replicate the initiatives to develop their host communities. Governor Ifeanyi Okowa of Delta State, represented by the Commissioner for Secondary Education, Mrs. Rose Ezewu, commended Seplat and its joint venture partner, the NPDC for sustaining the CSR programme in the last 10 years. “It is no gainsaying that NPDC/Seplat Energy JV has made a remarkable impression in the education industry in both Delta and Edo States. It is a milestone that has left a lasting impression in the minds of students, teachers and the schools through interventions in education,” the governor said. He called on other cooperate organisations to emulate the Seplat Energy initiative, insisting that the mantra of the Universal Basic Education (UBE’s) ‘Education For All’ is the responsibility of all. In her remarks, the Director, External Affairs and Sustainability, Seplat Energy, Dr. Chioma Nwachuku, represented by the Western Assets Base Manager, Mr. Emmanuel Otokhine, explained that the Seplat Pearls Quiz as an educational initiative, is targeted at boosting the quality of education in the states where the company operates. She reiterated that the programme is also aimed at providing facilities in
schools in the states. While thanking Okowa for his support, she also congratulated the winning schools and urged others to improve on their performances, stressing that the Pearls Quiz is very transparent. “In line with the Sustainable Development Goals 4 (SDG4), the Seplat Pearls Quiz ensures inclusive, equitable quality education and promotion of life-long learning opportunities for public and private secondary school students in our host states of Edo and Delta,” Nwachuku added. Also, the CSR Manager of Seplat Energy, Esther Icha disclosed that the oil company has introduced several new awards for participating schools, including best behaved school and most promising school, among others. Basking in their euphoria of winning prizes, students of Peniel Academy, Pioneer Education Centre and Igbinedion Education Centre thanked the company for the opportunity given to them to showcase their talents. This year’s competition also featured chronographic and cultural dance performances by students of different schools. Other notable dignitaries who attended the ceremony were: the Deputy Speaker, Delta State House of Assembly, Rt. Hon. Ochor Christopher Ochor, represented by Mr. Emmanuel Enebeli; Chief Press Secretary to
the Deputy Speaker; the Secretary to the Delta State Government (SSG), Chief Patrick Ukah, represented by Mr. Felix Ideh; Senior Special Assistant (SSA) to the SSG; Commissioner for Higher Education, Delta State, Professor Patrick Muoboghare, represented by Mrs. Stella Agbeyeke; Director, Inspectorate Department, Delta State Ministry of Higher Education; Mr. Augustine Ede Oghoro; Permanent Secretary Delta State Ministry of Basic and Secondary School Education; and the Permanent Secretary, Edo State Ministry of Education, Mrs. Stella-Marris Imasuen, represented by Mr. Bernard Aghomon of the Science, Technical and Vocational Education Directorate, Edo State Ministry of Education. Seplat Energy has continually demonstrated the firm commitment to a long-term infrastructural development of her host communities, as well as, to growing the human capital and intellectual aptitude of the people in these states. Apart from the PEARLS quiz, the organisation also organises several other CSR initiatives like teachers’ empowerment programme known as STEP, which second edition started earlier in the year. The STEP initiative is an educational programme through which teachers are equipped with all it takes to continue to impart knowledge in their students with modern techniques.
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EDUCATION
Randle, ESSY among Climate Action Project’s 250 Schools of Excellence Globally Uchechukwu Nnaikei Randle Junior Secondary School, Apapa and ESSY Grace Montessori School, Ajah, Lagos were among the 250 schools globally, that were recently named Schools of Excellence by the Climate Action Project. Both schools were coordinated by Dr. Olawale Oyekanmi of TIGO NGO. The 250 schools were recognised for their intense work on climate education in a whole-school approach. The recognition was awarded by Cartoon Network Climate Champions and Climate Action Project. Cartoon Network Climate Champions is a climate change awareness initiative that sets out to inspire children to take on daily challenges that collectively can make a big difference to the health of the planet. It has been developed in collaboration
with WWF, a world-renowned environmental organisation. Climate Action Project is a free, global education project that was launched by Take Action Global, an education non-profit based in the USA, involving 2.7 million teachers and students across 146 countries. The project aims to help students learn about the climate crisis in authentic ways and disseminate solutions online. The recognised schools submitted their work for the past year and met extensive criteria, including a schoolwide commitment to climate education and student solutions. Randle and ESSY Grace Schools worked on plastic waste management tagged ‘Turning Waste to Wealth’, using waste plastic bottles to make ottomans. And adequately sensitised the school community on the need to be environmentally friendly. The selected 250 Climate
Action Project Schools of Excellence were announced on November 4, 2021 during Climate Action Day, an annual online live event attended by 250,000 people globally. The winners were announced by Dan Russell, the voice actor behind several characters in Cartoon Network global hit series The Amazing World of Gumball, and Nandi Bushell, an 11-year-old musician, an influencer and passionate climate advocate. In a statement, Prince William said: “We need youth’s creativity to repair our planet. We need students to invent and to innovate - to think beyond where we are now and to be optimistic about our future.” Koen Timmers of Climate Action Project stated: “Young people have the capacity to do more than learning about climate change. They all can come up with solutions, take
small actions and inspire others to change their lifestyles. In the end, a change of students’ behavior and society’s mindset will be crucial to solve the crisis.” Dr. Jennifer Williams of Climate Action Project added: “Our community of educators have come together in support of climate education for all. We are committed to ensuring students have access to information, ideas, and opportunities to take action for the planet, and, today, these Schools of Excellence are leading the way for the entire world.” Responding, Oyekanmi pledged the schools’ loyalty and commitment to Take Action Global Advocacy through sensitisation campaigns. “Therefore, the award is dedicated to continuous service for local global environmental conservation and preservation,” he said.
L-R: Mr. Okey Atueyi, his wife, Mrs. Uju, their daughter Joan, receiving the Best Commercial Student award from the Director of Studies, Starfield College, Fagba, Mr. Chris Eigbe, at the 18th valedictory service of the school... recently
School Director Tasks Parents on Positive Engagement with School Uchechukwu Nnaike The Director of Studies, Starfield College, Lagos, Mr. Chris Eigbe, has urged parents to always engage their children’s schools positively, as both parties are working towards a common goal. He said this at the recent 18th valedictory service for 79 graduands of the 2020/21 session. As first-line teachers, he said parents should instill in their children certain qualities that will enable them to succeed.
Eigbe stated that the school recently held a parent teacher conference with the theme ‘Striving for Excellence: the Parental Interface’, where parents were taught positive ways of engaging the school. He said parents should give their children proper home training; they should learn to resolve issues at school without involving their children. He also urged parents to participate in all school activities, as this creates harmony between home and school. He advised parents to teach
their children social skills, saying that strong relationships are required for success. The director said the school also engages in regular profiling of students, in partnership with parents, to analyse their strength and weakness. He said the activity helps to strengthen the strength and limit the weakness. To ensure academic excellence, he said the school introduced the DOS Project tagged no child is left behind. He said through differentiated teaching, every child is
taught at his own pace. In her remarks, the school Principal, Mrs. Sara Oyinloye, emphasised acquisition of social skills like using manners, sharing, listening, cooperating, respecting personal space, among others. “A child with quality education without manners is not a completely developed child,” she said. She advised the graduands to always read because they want to be informed, not because they are to write an exam or test.
EU Opens Higher Education Scholarship Portal for Nigerians The European Union (EU) has called for applications for next year’s Erasmus+ scholarship programme, in line with its commitment to expanding opportunities for quality higher education for young Nigerians. The Erasmus+ is the EU’s flagship programme for education, training, youth and sport, offering beneficiaries
scholarships to study in some of the most prestigious universities within and outside Europe. It also enables youths, students, staff and higher education institutes to attend or work with European higher education institutions. Building on the success of the programme in the period between 2014 to 2020, the
Erasmus+ programme for 2021 to 2027 provides more opportunities for mobility and cooperation with partner countries beyond Europe, focusing on its qualitative impact and contributing to more inclusive and cohesive, greener and digitally fit societies. The programme also
equips young Nigerians with the education, skills and competences they need to thrive in a globalised economy, hence, contributing to nation-building. The 2021-2027 programme focusses on social inclusion, the green and digital transitions, and promoting young people’s participation in democratic life.
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Teacher’s DIARY KEHINDE OMORU
www.kayomoru.com
GOOGLE ASSURANCE?
O
ur reliance on google since it was founded on September 4, 1998 is invaluable. This is not unconnected with its search prowess for text in publicly accessible documents offered by web servers as opposed to other data, such as images or data contained in databases. Whilst my teasing mates roared with raucous laughter at what I’d just said, a bit confused and momentarily self-conscious, I rummaged feverishly in my bag on the window sill for my mobile. “Blessed is the man that walks not in the counsel of the ungodly nor sits in the seats of sinners...” escaped from my phone as I unpinned it. Hastily I searched for the dictionary meaning of the word “feasting”. Thank God my auto-repeated Psalm 1 had been my subject of meditation a few hours before then. Otherwise I’d have been a little rattled by this early morning jibe!”En hen!” I exhaled as Google assured me that ‘feasting’ had been a perfect word to use in my statement, “They were feasting when I arrived”. “You mean the whole lot of them?”, asked Jan as she swished a right fist in the air. “Not a chance! That’d have been vile!” snapped Sinead in mock embarrassment. “Ok ok back off K everyone, actually Kay, we got it’, declared Clarrisa, “K meant /fi:stin/ (signing the eating action with her hands) not /fistin/ (she made a fist, lowered it to her pubic area and signed erotic sexual action with it)”.Completely miffed, I exhaled, “...but his delight is in the law of the Lord and in His commandments does he meditate day and night...” My friends just stared at me for a moment and burst into more laughter. Daily I am consciously and unconsciously reminded that I am a second language user, not a first language user. Not that it matters much to me. However it has done, it does do and will continue to matter to people with low self-confidence.Indeed folks, to become a tree planted by the rivers of water, whose leaves do not whither and all she does prospers, takes a lot of adaptability, creativity, accommodation and focus. Like the cutting taunts of my mates, the professional world we work in now has no time for imperfections. To remain on board and be accepted, you’d need to be outstanding in relevant skills or you’re out!The linguistics and phonetics lab did not work for one day when I was an undergraduate of English at OAU many years ago. In fact, this facility remains non-existent in many a Nigerian uni today. Consequently, students resort to mastering just the physical transcription of English sounds rather than experiencing the visual and acoustic makings of these sounds of English. Our linguistics and phonetics departments need urgent revamps.Our entire English departments desperately need to create and flesh out courses that would quickly position our English graduates for jobs. We need graduates coming out with combined bachelors in English and journalism; English and Filmmaking; English and Social Care; English and School Administration..., the list is endless.Indeed the list is endless of professions that having a degree in English can impact on. All it takes is an honest awareness of the winds of change in Nigeria today. Recently I launched a children’s clothes line named Omolabake Couture. I did a little research on the many designs of smock and brained stormed with a couple of friends on girls’ age-ranges smocks are best suited for. My background in language enabled me to source for fetching fabric colours, combine them to make sweet smocks for girls of age 3-5 and coin original names for each design.I continue to develop my skills in freelance writing, story writing, the various aspects of filmmaking, teaching, nursing and active health promotion. Looking back across my tedious, laborious, effortful career pathways, I thank God that I have persevered. Nonetheless, I cannot help but wish younger tertiary student aspirants of English studies could be offered more opportunities to study other skills, alongside English, so that they graduate in fields that enable them to get jobs quicker or become self-employed especially that things are changing in our today’s world. -Omoru is a freelance writer, education, health and social care advocate
WEDNESDAY NOVEMBER 10, 2021 • T H I S D AY
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40
T H I S D AY ˾ WEDNESDAY NOVEMBER 10, 2021
CITYSTRINGS
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
Inside the Rubble of Ikoyi Building Collapse Sunday Ehigiator reports that the collapsed 21-storey building located in Gerald Road, an affluent area in Ikoyi, Lagos, has so far claimed 44 lives with 15 survivours, some of who are still battling for their lives in the hospital
Emergency responders and equipment searching for those trapped under the rubble of the collapsed building
A
t about 2pm on Monday, November 1, 2021; barely 61 days to the end of 2021, tragedy struck. A 21-storey building at Gerald Street in highbrow Ikoyi area of Lagos collapsed and buried no less than 50 persons, including the developer and the Managing Director, Fourscore Heights Limited, Mr. Femi Osibona, underneath the rubble of the collapsed luxury apartment, which still undergoing construction. As at press time, the death toll had inched to 44 with 15 survivours, some who are still battling for their lives at the hospital. The Collapse Findings from one of the surviving workers of the collapsed skyscraper, Gabriel Bassey, revealed that the building crumbled around 2pm when workers were still on the site. He said the owner was also on site with about 15 persons believed to be his friends and partners when the building came down, and about 50 persons, majorly site workers, were trapped in the rubble. “I was trying to plug my phone and not up to five seconds after I left the spot, I started feeling vibrations, and I saw the building coming down. That was when I ran to safety.” Identified Casualties Arguably, one of the saddest stories from the aftermath of the building collapse incident, was the confirmed death of the Personal Assistant (PA) to the MD, Onyinye Enekwe, barely three days after she started working for the company. The 26-year-old was said to be engaged and was planning her wedding for December, 2021 Another sad story was the unfortunate death of a serving corps member, Zainab Oridamola, whose body has also been confirmed to be among the bodies brought out of the collapsed building, dashing all her family’s expectation of survival. According to findings, the 26-year-old, who was originally deployed to Maiduguri got redeployed to Lagos after the three-week orientation. She was among the six corps members deployed to the company, Fourscore Heights Limited, for their mandatory service to the nation Another identified casualty was that of a US-based Nigerian businessman, Wale Bob-Oseni, who was also reported to have been among the victims of the building collapse which. The real estate dealer was on his way back to his base that Monday when he detoured to check out the ongoing development at the luxury apartment. Unfortunately, both friends were subsequently trapped when the building collapsed, and their bodies
Rescue efforts at the Ikoyi Building Collapse
have now been recovered among the rubble. Death Toll As of the time this report was filled, an official report from the National Emergency Management Agency (NEMA), put the total death bodies recovered so far from the rubble of the collapsed building at 44. Some of the rescued persons are currently receiving treatment at Island General Hospital, while the dead have been deposited at the mortuary. Survivors As at Sunday evening, 15 persons had been rescued from the rubble and are receiving treatment in the hospital. Meanwhile, Lagos State Governor, Babajide Sanwo-Olu, during the week, released names and other identities of six of the nine survivors rescued from the building. He gave the names as, “Oduntan Timilehin (26); Ahmed Keleku (19, from Cotonou); Sunday Monday (21, suffered left leg fracture); Adeniran Mayowa (37, hip injury); Solagbade Nurudeen (33, pelvic injury); and Waliu Lateef (32).” Families Lament Delay in identifying Corpses, Relations Some bereaved relatives have lamented the postponement of the identification of corpses recovered by emergency workers, especially after the governor had said families would be able to identify their loved ones from Thursday after the autopsy had been conducted. The bereaved families said when they visited the Mainland Hospital mortuary, Yaba, on Thursday, November 4, they were denied access to the bodies. The father of an 18-year-old boy, Edward Godwin, while in tears, said he was not allowed to identify his son’s body despite the governor’s assurance. A woman, who did not identify herself, said she had been to the state morgue as well but was not allowed to identify her sister’s son. Another woman, who identified herself as Florence, said she spoke
with her brother on Sunday before she got a call that he was among those trapped. She said upon arrival at the site, she got informed that her brother was among those rushed to the hospital. She said she went to the general hospital with her brother’s picture, and he confirmed that he was brought in unconscious, “but since yesterday, I’ve not seen him or sure of the hospital he was taken to,” she said. Contradicting Reports on Building Structure Earlier, just few hours after the incident, the now suspended General Manager, Lagos State Building Control Agency (LASBCA), Mr Gbolahan Oki, in a phone interview with the News Agency of Nigeria (NAN), had noted that the developer of the collapsed building, Osibona, was only given approval to construct only 15 floors, but contravened this approval by building it up to 21 floors. However, while addressing journalists on the second day of the incident, The Deputy Governor of Lagos State, Dr. Obafemi Hamzat, countered Mr. Oki. According to Hamzat, “There are three buildings within these premises. The two other skyscrapers still standing were the one that got approval for a 15-storey building.T his particular building that collapsed got approval for 21-storey and that was what was built on it. So the report that they built beyond approved capacity, being responsible for this incident does not hold water.” In a twist, contrary to claims by Oki and Hamzat, an assessment document obtained by THISDAY, dated August 19, 2020, titled ‘Calculation of Assessment’, signed and stamped by Lagos State Government Physical Planning Permit Authority (LASPPPA), revealed that approval given for the building was 20 floors, and not 21 nor 15. The document further revealed that the ministry approved two 15-storey buildings, which are the two buildings still visibly standing at the incident site, and also approved one 20-storey building (which has now collapsed) and one other one-storey building for
I was trying to plug my phone and not up to five seconds after I left the spot, I started feeling vibrations, and I saw the building coming down. That was when I ran to safety
the gym and suspended swimming. Meanwhile, the governor, who announced Oki's suspension through the state Commissioner of Information, and Strategy, Mr Gbenga Omotoso, said the suspension was indefinite. Inauguration of Investigation Tribunal On Thursday, November 4, Governor Sanwo-Olu inaugurated members of the investigation tribunal that will conduct an inquiry into the misconduct responsible for the collapse of the building. The governor also signed the instrument legitimising the composition of the panel and empowering the tribunal to invite or summon anyone and organisation useful to the investigation. Members of the tribunal, who were drawn from the private sector, took the oath at the event held in the LASWA Building at Falomo, Ikoyi. Their duty began immediately and they are expected to report back within four weeks (a month). President of Nigeria Institute of Town Planners (NITP), Mr. Toyin Ayinde, was named as the chairman of the panel, while Ekundayo Onajobi, a lawyer in a private law firm, was named as the Secretary. Other panel members are a structural engineer, Dr. Akintilo Idris Adeleke, an architect, Yinka Ogundairo; representative of Institute of Builders, Mr. Godfrey O. Godfrey, and Mrs. Bunmi Ibrahim, a real estate lawyer. Three Days of Mourning Meanwhile, Governor Sanwo-Olu declared three days of mourning starting from, Friday, November 5 to 7, in honour of the lives lost at the collapse incident. In the statement released by Commissioner Information and Strategy, Mr. Gbenga Omotoso, the governor directed that “all flags are to be flown at half-mast in public and private buildings and official engagements cancelled during the mourning period". Laudable Efforts of Emergency Workers Given the work put in by emergency workers, especially those who have been working tirelessly to rescue those still trapped and equally recover bodies, the rescue operation is yet to be halted. Most commendable is the work put in by the National Emergency Management Agency (NEMA), ably led by the Southwest Zonal Coordinator, NEMA, Ibrahim Farinloye. With barely little time for rest, Farinloye and his men have been the most reckoned team in the rescue mission. They have equally not failed at timely updating the public on progress made thus far in the rescue efforts.
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T H I S D AY ˾ WEDNESDAY NOVEMBER 10, 2021
CRIME&SECURITY
Controversy over Resignation Precious Ugwuzor reports on the controversial resignation of the commissioner of Lands and Urban Development in Enugu State and the counter accusations by union leaders, individuals and state institution
Ugwuanyi
“T
he reason for my resignation is the recent removal of the professional heads of departments under me on the punitive ground for simply doing their jobs diligently. My conscience can no longer allow me to serve your administration while those innocent professional senior civil servants are punished for doing the right thing," a viral letter emanating from the Commissioner of Lands and Urban Development in Enugu State, Dr. Victor Nnam read. The erstwhile commissioner also alleged that the state governor, Ifeanyi Ugwuanyi, refused to approve his proposal for a Geometric Information System (GIS) land administration intended to stamp out land grabbers and created investors’ confidence in Enugu State. His resignation letter, which trended on all social media platforms, earned him adulation from Nigerians who praised his unusual stance. In the letter dated October 29, the commissioner said he was not happy about the removal of the professional heads of departments in his ministry which he alleged was on a punitive ground. But barely days after tendering his letter of resignation, some individuals and even the organised union criticised the move, terming it as hypocritical. Those who criticised him were institutions like the Enugu State University Teaching Hospital (ESUTH); organised labour groups like the Nigeria Labour Congress, (NLC) the Trade Union Council, (TUC), the Nigeria Union of Local Government Employees, (NULGE); a former local government chairman in the state and others. According to NULGE in Enugu State, "Nnam should bury his head in shame and seek God's forgiveness in all the land scams he allegedly committed that culminated in his forced resignation." The Labour Union however insisted that investigation by security agencies where it filed petitions against Nnam's alleged takeover of the union's developed plot in Independence Layout Enugu should be conclusively done and appropriate measures taken. Reacting to Nnam's sudden resignation, NULGE through its state President, Comrade Kenneth Ugwueze said the union was still in doubt that Nnam who allegedly tormented NULGE using land grabbing agents and refused to listen to its cries would come up with a resignation letter using the words 'diligently' and 'conscience.' "If the said letter actually arose from him, then he needs to search further the true meaning of diligent and also may be referring to a guilty conscience," they added. According to Ugwueze, NULGE was allotted a piece of land at Independence Layout, Enugu alongside other professional bodies like Nigeria Society of Engineering, Enugu State Branch and few individuals by the past administration of Barrister Sullivan Iheanacho Chime in the year 2012 for erection of her permanent State secretariat which serves also as the zonal office for the South-east. "We have over the years possessed the ownership of the land with considerable works going
Nnam on until recently (July 2021) when the land grabbing agent of the Commissioner for Lands and Urban Development, appeared claiming ownership of all the lands belonging to Nigeria Union of Local Government Employees (NULGE), Nigeria Society of Engineering and two other individuals (with erected buildings) without prior notice, whatsoever. "We wrote to the Governor of Enugu State Rt. Hon. Dr. Ifeanyi Ugwuanyi, crying out for help as His Excellency is also aware of our ownership of the land. While the security agencies were still investigating and making their preliminary reports, the commissioner hurriedly tendered his resignation letter to avert his sack since his guilty conscience was already staring him in the face claiming to be in the hospital for over some time. 'If grabbing peoples land without due process is a diligent work done by his affected officers and his version of 'World Best Practices in Land Administration' then he should blame himself for the act and seek forgiveness from God and so many groups and individuals that he has subjected to untold hardship and dehumanisation through his "Diligence.” "It is ridiculous for the Hon. Commissioner for Lands and Urban Development to write such letter of resignation when the investigation is still ongoing and those his senior officers were only redeployed to give way for proper investigation of his ministry which has been in public domain including but not limited to several invitations by the Enugu State House of Assembly. "We therefore cry out that the investigation by the security agencies be concluded so that justice will be done," Ugwueze demanded. Also, former Chairman of Ezeagu Local Government Area in Enugu State, Mr. Chukwudi Ezinwa, who had also raised alarm long before the commissioner resigned, had accused Nnam of failure to diligently act in his capacity as the commissioner in charge of his ministry. In his petition dated 25/5/2021, he accused the erstwhile commissioner of an brazen actions by his heads of department, brought by him with the view that Nnam would set a panel of inquiry or committee to look into his complaint involving the de jure deprivation of his property known as Plot 318, New GRA, Trans – Ekulu, Enugu. Ezinwa said: “Prior to the petition dated 25th May 2021, and while still in office, I had instructed my lawyers to write the commissioner in respect of my missing
file and land documents at the Ministry of Lands, but none of the petitions saw the light of the day as my land documents and all the letters written to the ministry were claimed and actually found to be missing. "This was ostensibly orchestrated by a female director who was instrumental to my ordeals and whose relative with the same surname, was found out to have been issued with a Certificate of Occupancy in 2014 over a property I bought from one Prince Onyeka Onyia in 2008. The said Prince Onyeka Onyia, was granted allocation of the said Plot 318, New GRA, in 2006. "However, before my transaction with Prince Onyeka Onyia, I conducted a search at the Lands Registry and found the allocation to be genuine and the land, not encumbered. Thereafter, I fenced the property and put a gate, built a four-bedroom bungalow, a gate man’s house and a fishpond in the property unchallenged till date. "The last straw that broke the camel’s back was when I decided to apply for the Certificate of Occupancy of the property that I discovered to my utter surprise and shock, that they have altered every document pertaining to the property and termed mine fake. “So, my cause for concern is, how come about the C of O, issued to one Jimmy Ugwu without the due process of visiting the property to see the level of development made by me, and who gave the consent for the Certificate of Occupancy to be given to Jimmy Ugwu, etc. These and other questions were what I raised in my petition to the commissioner and demanded for an inquiry to unravel the mystery which the Commissioner deliberately refused to act upon and that did not go down well with me. “The failure of the commissioner to act diligently over my complaint on the unscrupulous, unwholesome corrupt and fraudulent activities of his top staff needs much considered either as a pretentious weakness in veiled connivance and collusion with such staff. "No wonder, the commissioner became uncomfortable and quickly resigned on the ground that his professional HODs were removed by the governor. “The embattled ex commissioner claimed that Plot 318 New GRA was allocated to one Jimmy Ugwu on November 14, 1995 and obtained C of O Jan 7 2014. For discerning minds; New GRA was carved out by the administration of Governor Chimaraoke Nnamani which came on board in 1999.
His resignation letter, which trended on all social media platforms, earned him adulation from Nigerians who praised his unusual stance
Yet the land was allotted in 1995. “The C of O'' he said was issued 19 years after, from 1995 to 2014. Who is fooling who? Meanwhile, I took possession of the virgin land in 2008. The commissioner also lied that his Jimmy Ugwu developed the land. This is a land I developed, and I am still in possession. Who is Jimmy Ugwu? Our Investigation shows there is nobody like that. And if he exists why has he not shown his face in all these.” In a elated and strongly worded letter of complaint also sent to the Governor by the son of a former Governor of Enugu State, Chief C.C. Onoh entitled "Before it is too late" Dr. Josef Umunnakwe Onoh, Chairman of Enugu Municipal Development Authority alleged abuse of office, land racketeering, illegal subdivision, nepotism and acts detrimental to the ministry of lands and Enugu State government. He stated unequivocally that he has reservations over developments in the Ministry Lands under the watch of Dr. Nnam and called government attention to what he tagged " activities detrimental to the current administration being orchestrated by Commissioner Nnam. He further alleged that he (Nnam) appointed a fraudulent crony as his personal assistant who brazenly engaged into scouting, illegal subdivision, sale, laundering of funds being proceeds of illegal sale of land on behalf of the commissioner within Enugu Urban division and upon receipt of his letter, the Clcommissioner quickly backdated the termination paper of his assistant on realising that their fraudulent activities have been discovered. Further more, Dr. Onoh alleged in an earlier letter addressed to the Commissioner dated 12th March, 2029 that there was a criminal breach of trust, cheating and conspiracy and abuse of office by him. He requested for information and clarifications in unauthorised "Carve out" plots within Enugu Metropolis and award of contracts to companies the commissioner has vested interest, unwarranted sale of government land by his designated agents at Golf Avenue, Enugu. Apparently not peeved, Nnam said he expected that his abrupt resignation will ruffle feathers within numerous circles in Enugu State. In his defense on the case of NULGE, Nnam said: “The issue of NULGE is already a matter that is in court with suit No E/658 in the High Court of Enugu State. There are things that may not be said since it is already a subject of litigation but NULGE as I know with all the existing documents in the ministry, does not have any TITLE to the land. On the claim by Chukwudi Ezinwa, Nnam said “it is laughable that Ezinwa left his issue that started way back in the last administration and accepted to be used by known land grabbers to look for how to drag me. “Let me say this clearly here that I don't have any problem with the governor. I only have issues with some unfair decisions taken by a few people in government against innocent civil servants. The governor is still my boss and I am always grateful to him for giving me the opportunity to serve."
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T H I S D AY ˾ ˜ NOVEMBER 10, 2021
BUSINESS/MONEYGUIDE
Solanke Urges FG to Stop Naira Crash, Create More Awareness on e-Naira Oluchi Chibuzor Retired justice, and first female Senior Advocate of Nigerian, Folake Solanke SAN, has called on the federal government to stop the persistent crash of naira by initiating stable policies that stabilize the exchange rate of the nation’s currency against foreign currencies. This, in her view, will prevent the nation’s currency from sinking to nothingness, which can be averted by restoring its value to a more reasonable exchange rate. She stated this while speaking at the 20th Women in Management, Business and Public Service (WIMBIZ) conference held recently in Lagos, with the theme, “Celebrating Legacy.” She pointed out that about five decades ago the naira was as strong as the U.S dollar and
at par with the Pounds Sterling. The nation’s currency, she said, started depreciating with the interventions of international organisations. According to her, “now most unfortunately the naira is nearly N600 to a dollar. We should not allow the naira to sink into N1000 for a dollar and it will then sink to nothingness. This calamity is disastrous for the country.” The 89 year old maintained that the structural adjustment programme (SAP) of the IMF and it’s cousins at the World Bank started the naira descent, stressing, “that people are now dying of hunger because of the astronomical cost of food items.” “WIMBIZ should devise a strategic plan to raise a public national awareness against the further devaluation of the naira and advocate for the restoration of
the naira to a reasonable exchange rate, “she noted. She charged WIMBIZ to engage with the governor of the central Bank of Nigeria (CBN) to stop the naira from further hemorrhaging. On the e-Naira, she noted its introduction was with little knowledge of the infrastructure for this e-banking system, she therefore advised CBN and WIMBIZ to engage in corporate programmes on the new digital product. On her part, the Director General of World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, urged women to be more adventurous in their chosen sector. “For me men must learn to give way for women in most of these positions and women must learn to be humble, simple in whatever positions they find themselves in, “she said.
DataPro Affirms Guaranty Trust Bank “AA+ Rating DataPro, the technology-driven credit rating agency has in its latest report affirmed Guaranty Trust Bank Limited long-term rating of “AA+” with a positive outlook for the year 2021/2022. According to a statement signed by DataPro’s Client Service Manager, Mr. Kehinde Rasheed, the “AA” indicates lower risk. “It shows excellent financial strength, operating performance, and profile when compared to the standards established by DataPro. This bank, in our opinion, has a very strong ability to meet its ongoing obligation,” the
statement said. It further explained that, “The DataPro Rating committee approved the rating after assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, governance, risk and compliance, risk factors and future outlook of its current healthy profile in the medium to long term period. The rating of Guaranty Trust Bank Limited is supported by its diversified revenue base, experienced management, strong capitalisation, and brand presence.”
Given a detailed breakdown of the new threshold, the statement explained that Guaranty Trust Bank Limited had a short-term rating of “A1+” which indicates the highest credit quality and strongest capacity for timely payment of financial commitments. “DataPro notes that the rating carries a maximum shelf life of 12 calendar months, in line with international best practice. The rating is therefore not on offer to trade securities not a substitute for the user’s judgment. It is meant for reference purposes,” the statement said.
CITITRUST Holdings Repositions, Divests from Financial Services Nigeria CITITRUST Holdings Plc has announced its strategic decision to divest its 100 per cent holdings in CITITRUST Financial Services Plc Nigeria. The company in a statement said the decision was taken after considering its long-term sustainability and objectives of its business model that no longer align with the vision of CITITRUST Financial Services Plc Nigeria. CITITRUST in the statement stated that CITITRUST Financial Services Plc Nigeria is now owned and represented by Clandun Business Advisory, “which will be responsible for the management and operations of CITITRUST Financial Services
PLC Nigeria and its six (6) subsidiaries: Cititrust Credit Limited, Cititrust Portfolio Limited, Core Capital Limited, First Guaranty Healthcare Limited, First Option Microfinance Bank Limited, and Great Hope Insurance Brokers Limited. “Consequently, CITITRUST Financial Services Plc Nigeria and its direct subsidiaries cease to be a direct or indirect affiliate of CITITRUST Holdings PLC, as the new owners are not related to the Holding Company. “CITITRUST Holdings Plc remains committed to consistently delivering excellent service and performance in line with its core business values and objectives. Recently, one of its
subsidiaries, Pan African Finance Limited Rwanda, was granted an Investment Banking license from the Rwanda Capital Market Authority, to upscale the business model to operate fully as a Merchant Bank.” It added, “To further underscore the dynamism of Cititrust Business Model, its solely CBN licensed Banking subsidiary, LivingTrust Mortgage Bank Plc, declared a Q3 2021 Profit After Tax of N533Million. Cititrust Holdings Plc is resolved to deliver outstanding performance to its stakeholders across the remaining 18 direct subsidiaries and 2 indirect subsidiaries across twelve African countries.”
Kuda PartnersVisa on Physical,Virtual Cards In a move aimed at driving its independent payment cards offering, Kuda Technologies, the challenger bank for Africans, has partnered with Visa, the world leader in digital payments, to offer digital and physical issuance of Visa cards to its customers. Kuda in a statement said its proposition of zero fees on cards, account maintenance and transfers as well as its low-interest credit offering delivered conveniently through smartphones and the web have made it particularly attractive to millennials, and the bank now has almost two million customers in its launch country, Nigeria, where it operates as Kuda Microfinance Bank under license from the Central Bank
of Nigeria. “As Kuda continues to grow significantly, switching from a third-party card provider to a direct issuer of physical and virtual Visa cards will give the bank more control over the quality of card services it offers while also facilitating its mission to make banking accessible, affordable and rewarding for Africans, “it stated. Kuda Technologies CEO, Babs Ogundeyi said, “Visa inspires confidence, and partnering with them to help us offer reliable card services independently has been one of our top priorities since Kuda launched in 2019. We’re proud that we’ve finally made this happen and we look forward to promoting cashless
payments across Africa together.” “The rapid pace of technology innovation has driven a powerful shift in business and consumer expectations in financial services,” said Andrew Uaboi, Country Manager, Visa Nigeria. “Whether it is changing the way people invest, manage money, receive loans, or send real-time payments to friends and family, Visa is a natural partner for fintechs including Kuda, providing them with new ways to reach their customers through Visa’s vast network and global scale. We look forward to expanding the partnership to other countries in Africa as Kuda continues to scale across the continent,” Uaboi said.
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
JANUARY 2021 Money Supply (M3)
38,779,455.43
-- CBN Bills Held by Money Holding Sectors
1,039,129.55
Money Supply (M2)
37,740,325.88
-- Quasi Money
21,779,302.69
-- Narrow Money (M1)
15,961,023.19
---- Currency Outside Banks
2,364,871.13
---- Demand Deposits
13,596,152.06
Net Foreign Assets (NFA)
7,414,275.50
Net Domestic Assets(NDA)
31,365,179.93
-- Net Domestic Credit (NDC)
42,916,586.63
---- Credit to Government (Net)
12,304,773.44
---- Memo: Credit to Govt. (Net) less FMA
0.00
---- Memo: Fed. and Mirror Accounts (FMA)
0.00
---- Credit to Private Sector (CPS)
30,611,813.19
--Other Assets Net
3,892,112.74
Reserve Money (Base Money
13,264,585.14
--Currency in Circulation
2,831,167.19
--Banks Reserves --Special Intervention Reserves
10,433,417.96 317,234.17
˾ ÙßÜÍÏ ̋
Money Market Indicators (in Percentage) Month
March 2018
Inter-Bank Call Rate
15.16
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
11.84
Savings Deposit Rate
4.07
1 Month Deposit Rate
8.82
3 Months Deposit Rate
9.72
6 Months Deposit Rate
10.93
12 Months Deposit Rate
10.21
Prime Lending rate
17.35
Maximum Lending Rate
31.55
˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ
OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7
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), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
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T H I S D AY ˾ ˜ ͯͮ˜ ͰͮͰͯ
Investors on NGX Gain N252.42bn as YTD Return Hits 8.59% Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday sustained its positive sentiment, gaining N252.42billion as investors renewed interest in Airtel Africa Plc and 23 others.. The market positive performance was driven by price appreciation in large and medium capitalised stocks which are;
Airtel Africa, MTN Nigeria Communications (MTNN), Ardova, Lafarge Africa and UAC of Nigeria (UACN). However, the overall market capitalisation value rose by N252 billion to close at N22.821 trillion from N22.569trillion it opened for trading yesterday. Consequently, the NGX AllShare Index (ASI) increased by 483.68 basis points, representing a rise of 1.12 per cent, to
P R I C E S MAIN BOARD
DEALS
F O R
close at 43,730.55 points from 43,246.87 basis points. . Across sectors, gains in the Industrial Goods (+0.2 per cent), Consumer Goods (+0.2 per cent), Oil & Gas (+0.1 per cent), and Banking (+0.1 per cent) indices reflected the overall market performance. However, the Insurance (-0.3 per cent) index declined. The market breadth closed positive, recording 24 gainers as against 16
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
losers. Associated Bus Company and FTN Cocoa processors recorded the highest price gain of 10 per cent each to close at 33 kobo and 44 kobo, respectively, while Ardova Plc followed with a gain of 7.38 per cent to close at N14.55, per share. UACN up by 7.14 per cent to close at N11.25, while Livestock Feeds appreciated by 6.83 per cent to close at N2.19, per share. On the other hand, Berger Paints
T R A D E D MAIN BOARD
AS
Nigeria led the losers’ chart by 9.52 per cent to close at N8.55, per share. Caverton Offshore Support Group followed with a decline of 9.09 per cent to close at N1.70, while University Press declined by 7.39 per cent to close at N2.13, per share. Regency Alliance Insurance declined by 6.82 per cent to close at 41 kobo, while Conoil Plc shed 5.65 per cent to close at N21.70, per share. Meanwhile, the total volume of
O F
trades declined by 36.72 per cent to 280.714 million units, valued at N3.476 billion, and exchanged in 4,342 deals. Transactions in the shares of Sterling Bank topped the activity chart with 83.313 million shares valued at N125.056 million. UACN followed with 34.207 million shares worth N360.536 million, while Zenith Bank traded 17.478 million shares valued at N427.157 million.
8 / 1 1 / 2 0 2 1 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
44
WEDNESDAY, ˜ ͺͺ ˾ T H I S D AY
Wednesday, November 10, 2021
dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ƌŽƐĞ ϭ͘ϭй dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ƌŽƐĞ ďLJ ϭ͘ϭй ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϴϱϴ͘Ϭϲ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ
THISDAY AFRINVEST 40 INDEX
ƉŽŝŶƚƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ /Zd > & ;нϮ͘ϲйͿ͕ DdEE
Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ;нϯ͘ϵйͿ͕ ĂŶĚ t W K ;нϯ͘ϱйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ
t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ ϰϬ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘
dŚĞ ƵůůƐ ,ŽůĚ ^ǁĂLJ͘͘͘ ^/ ƵƉ ϭ͘ϭй ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĞdžƚĞŶĚĞĚ ŐĂŝŶƐ ĨƌŽŵ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĚƵĞ ƚŽ ƐƵƐƚĂŝŶĞĚ ŝŶƚĞƌĞƐƚ ŝŶ DdEE ;нϯ͘ϵйͿ͕ t W K ;нϯ͘ϱйͿ
zĞƐƚĞƌĚĂLJ͕
ƉƌŝĐĞ
ƵƉƟĐŬ
ŝŶ
,KEz&>KhZ
ĂŶĚ /Zd > &Z ;нϮ͘ϲйͿ͘ ĐĐŽƌĚŝŶŐůLJ͕ ƚŚĞ E'y ůůͲ^ŚĂƌĞ /ŶĚĞdž ƌŽƐĞ
;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ
ϭ͘ϭй ƚŽ ϰϯ͕ϳϯϬ͘ϱϱ ƉŽŝŶƚƐ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ േϮϱϮ͘ϰďŶ
ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ
ƚŽ േϮϮ͘ϴƚŶ͘ >ŝŬĞǁŝƐĞ͕ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϴ͘ϲй ĨƌŽŵ ϳ͘ϰй ŝŶ ƚŚĞ
^ŚĂƌĞ ƌŽƐĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ďLJ ƉƌŝŽƌ ƐĞƐƐŝŽŶ͘ DĂƌŬĞƚ ŝŶĚĞdž ĂĐƟǀŝƚLJ ƚĂƉĞƌĞĚ ĂƐ ǀŽůƵŵĞ ĨĞůů ďLJ ϯϲ͘ϳй ĂŶĚ ϯϭ͘ϭй ƉŽŝŶƚƐ͘ ƌĞƐƉĞĐƟǀĞůLJ ƚŽ ϮϴϬ͘ϳŵ ƵŶŝƚƐ ĂŶĚ േϯ͘ϱďŶ͘ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ ^d Z>E E< ;ϴϯ͘ϯŵ ƵŶŝƚƐͿ͕ h E ;ϯϰ͘Ϯŵ ƵŶŝƚƐͿ͕ ĂŶĚ E/d, ;ϭϳ͘ϱŵ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ ƵŶŝƚƐͿ ůĞĚ ďLJ ǀŽůƵŵĞ ǁŚŝůĞ DdEE ;േϭ͘ϭďŶͿ͕ E/d, ;േϰϮϳ͘ϮŵͿ͕ ĂŶĚ
േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ h E ;േϯϲϬ͘ϱŵͿ ƌĞĐŽƌĚĞĚ ƚŚĞ ŵŽƐƚ ǀĂůƵĞ͘
ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ
Price Previous Current Change Price YTD Weighting Change
Price Change Index to Date
Ticker
Current Price
THISDAY AFRINVEST 40
1,858.06
1.06%
26.6%
85.8%
15.0%
3.5%
5.5x
0.8x
5.1%
880.00
2.6%
31.0%
3.3%
3.3%
14.7%
5.2%
12.3x
3.2x
2.1%
74.50
0.0%
10.3%
-3.7%
-3.7%
19.1%
11.2%
35.8x
6.7x
1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC
-14.5%
-14.5%
24.8%
3.9%
4.2x
1.0x
10.8%
23.9%
-1.6%
-1.6%
20.9%
2.8%
3.3x
0.6x
12.3%
30.2%
280.00
0.0%
6.6%
14.3%
14.3%
40.4%
16.7%
13.9x
5.4x
5.9%
7.2%
200.00
3.9%
5.5%
17.7%
17.7%
179.2%
14.1%
14.4x
21.9x
5.2%
6.9%
1,400.00
0.0%
3.5%
-7.0%
-7.0%
106.8%
15.6%
27.2x
32.0x
4.3%
3.7%
26.90
3.5%
4.1%
27.8%
27.8%
11.6%
8.4%
10.1x
1.1x
3.7%
9.9%
9.50
0.5%
3.0%
12.4%
12.4%
17.0%
1.4%
2.7x
0.4x
8.9%
37.5%
8 Lafarge Africa PLC 9 Access Bank PLC 10 United Bank for Africa PLC 11 FBN Holdings Plc 12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC
0.0%
2.5%
-2.3%
-2.3%
2.1x
0.4x
6.5%
47.1%
0.0%
3.7%
58.7%
58.7%
10.6%
1.0%
5.3x
0.5x
4.0%
18.9%
52.50
0.0%
1.8%
-6.3%
-6.3%
5.3%
1.9%
48.4x
2.5x
2.1%
2.1%
39.00
0.0%
2.0%
3.3%
3.3%
15.4%
2.0%
9.0x
1.4x
10.5%
11.2%
-10.3%
-3.9%
-6.7%
-6.7% 11.5%
16 SEPLAT Energy PLC 17 11 PLC
731.50
0.0%
1.8%
81.8%
81.8%
18 Okomu Oil Palm PLC 19 Fidelity Bank PLC
142.00
0.0%
ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕
1.2%
56.0%
2.75
1.9%
0.7%
9.1%
E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘ ƵĞĚ ƚŽ ŽƵƚƉĞƌĨŽƌŵ͕ ƵƉ ϯ͘ϯй ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ DdEE
20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC
8.70
0.0%
0.9%
17.10
2.4%
0.5%
;нϯ͘ϵйͿ ĂŶĚ /Zd > &Z ;нϮ͘ϲйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů ĂŶĚ ŽŶͲ
22 FCMB Group Plc 23 Sterling Bank PLC
3.05
0.0%
0.5%
-8.4%
-8.4%
1.55
3.3%
0.3%
-24.0%
ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ
24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria
14.00
-4.4%
0.3%
1.02
-1.0%
;нϭ͘ϰйͿ͘ DĞĂŶǁŚŝůĞ͕ ďƵLJ ŽƵƌ ŝŶƚĞƌĞƐƚ ŝŶ Z Ks ;нϳ͘ϰйͿ͕ ^^ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ
26 Presco PLC 27 Unilever Nigeria PLC
89.00 14.60
ďŽƵŐŚƚ t W K ;нϯ͘ϱйͿ͕ E'^h' Z ;нϮ͘ϰйͿ ĂŶĚ &>KhZD/>>
;нϬ͘ϱйͿ ĂŶĚ &/ >/dz ;нϭ͘ϵͿ ƐƵƉƉŽƌƚĞĚ Ă Ϭ͘ϭй ŐĂŝŶ ŝŶ ƚŚĞ Kŝů Θ 'ĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ĞĂĐŚ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž
ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ
ƐŚĞĚ Ϭ͘ϯй ĂƐ ƚŚĞ ƐŽůĞ ůĂŐŐĂƌĚ͕ ĚƌĂŐŐĞĚ ďLJ t W/ ;Ͳϰ͘ϬйͿ ĂŶĚ D EͲ
Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ
&/d ;Ͳϯ͘ϵйͿ͘
ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ
ϵ͘ϭйͿ͕
hE/> s Z
;Ͳϯ͘ϱйͿ͕
/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ
>/E< ^^hZ
;Ͳϲ͘ϰйͿ͕
ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ
ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ ĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ŝŵƉƌŽǀĞĚ ƚŽ ϭ͘ϱdž ĨƌŽŵ Ϭ͘ϳdž ĂƐ Ϯϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ ǁŚŝůĞ ϭϲ ƐƚŽĐŬƐ ƐŚĞĚ ƉƌŝĐĞƐ͘ dZ E^ ;нϭϬ͘ϬйͿ͕ &dE KͲ
14 International Brew eries PLC 15 Flour Mills of Nigeria PLC
8.45 11.35
11.5%
ƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ Ϭ͘Ϯй ĂƉŝĞĐĞ ĂƐ ŝŶǀĞƐƚŽƌƐ
30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC
-10.3%
0.7x
5.7%
22.4%
1.9%
16.9x
0.6x
5.9%
5.9%
56.0%
38.8%
25.2%
9.7x
3.4x
5.0%
10.3%
9.1%
12.7%
1.2%
2.4x
0.3x
8.0%
41.9%
45.0%
45.0%
1.5%
0.1%
28.8x
0.4x
-2.8%
-2.8%
25.6%
12.1%
6.6x
1.6x
8.8%
15.2%
-24.0%
10.1%
0.9%
3.4x
0.3x
3.2%
-3.4%
-3.4%
20.7%
5.9%
13.2x
2.8x
2.8%
7.6%
0.4%
13.3%
13.3%
-1.3%
-0.3%
0.6x
1.0%
-2.1%
0.0%
0.3%
25.4%
25.4%
2.1x
1.1%
0.0%
0.2%
5.0%
5.0%
-1.3%
-0.8%
1.3x
6.00
0.0%
0.2%
13.2%
13.2%
-100.0%
3.5%
4.9% 29.7%
-1.0% 4.2%
9.80
2.6%
0.4%
108.1%
108.1%
2.2x
7.1%
37.50
0.0%
0.4%
97.4%
97.4%
8.1%
3.8%
13.4x
1.0x
1.2%
7.5%
7.65
0.0%
0.2%
30.8%
30.8%
24.7%
7.5%
3.8x
0.9x
7.2%
26.6%
12.2%
1.8%
13.0x
0.6x 1.8%
18.3%
1.30
1.6%
0.2%
15.0%
15.0%
240.80
0.0%
0.3%
85.2%
85.2%
24.80
-0.8%
0.2%
40.7%
40.7%
18.3%
2.4%
4.3x
0.8x
1.6%
23.1%
0.86
-3.4%
0.2%
24.6%
24.6%
13.7%
0.8%
4.1x
0.5x
4.7%
24.6%
0.0%
0.0%
-100.0%
7.1%
0.8%
5.6x
0.6x
5.0%
0.0%
0.1%
31.1%
14.5%
2.6%
2.1x
0.3x
4.7x
0.6x
4.85
38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc
1.0x 4.5x
3.4%
0.0%
28 PZ Cussons Nigeria PLC 29 United Capital PLC
K ;нϭϬ͘ϬйͿ͕ ĂŶĚ Z Ks ;нϳ͘ϰйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ Z' Z ;Ͳ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ
8.1% 2.8%
7.6%
1.1%
ϱ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ ǁŚŝůĞ ϭ ůŽƐƚ͘ dŚĞ &ZͲ/ d ŝŶĚĞdž ĐŽŶƟŶͲ
14.9%
6.3%
1.4%
WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĂƐ ďƵůůŝƐŚ ĂƐ
Divindend Earnings Yield Yield
-1.1%
0.0%
ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ
P/BV
-0.4%
1.4%
ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ
P/E
27.65
5.55
ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ
ROA
24.40
29.00
ROE
31.1%
7.7%
5.5x
62.50
0.0%
0.1%
0.0%
0.0%
-38.7%
-9.5%
52.95
0.0%
0.1%
-4.4%
-4.4%
14.8%
10.1%
5.38
0.0%
0.0%
49.4%
49.4%
17.7% 47.9%
2.1x
-20.1% 2.0%
21.4%
0.9x 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
ϵ͘ϱйͿ͕ s ZdKE ;Ͳϵ͘ϭйͿ͕ ĂŶĚ hW> ;Ͳϳ͘ϰйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ tĞ ĞdžƉĞĐƚ
Ğƌ͕
ƵƉ
ϭ͘ϴй
ĚƌŝǀĞŶ
ďLJ
ƉƌŝĐĞ
ĂƉƉƌĞĐŝĂͲ
ƚŽ ƐĞĞ ŵŝůĚ ŐĂŝŶƐ ŝŶ ƚŚĞ ƚŽĚĂLJ͛Ɛ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ƚŚĞ ƚĞůĐŽͲŝŶĚƵĐĞĚ
ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘
T ic k er
P ric e
P ric e C hg %
T ic k er
Vo lum e
P ric e C hg % 3.3%
F T N C OC OA
0.44
10.0%
ST ER LN B A N K
83.3
ƌĂůůLJ ĐŽŽůƐ Žī͘
A B CTRA NS
0.33
10.0%
UA C N
34.2
7.1%
A R D OVA
14.55
7.4%
Z EN IT H B A N K
17.5
-0.4%
UA C N
11.25
7.1%
UC A P
17.5
2.6%
LIVEST OC K
2.19
6.8%
A C C ESS
15.3
0.5%
R ED ST A R EX
3.65
6.4%
FB NH
9.0
0.0%
1.10
5.8%
T R A N SC OR P
8.4
-1.0%
/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ŽƌƉŽƌĂƚĞ ŝƐĐůŽƐƵƌĞ zĞƐƚĞƌĚĂLJ͕ /ŶƐƵƌĂŶĐĞ ;ƚŚĞ ͞ ŽŵƉĂŶLJ͟Ϳ ĂŶŶŽƵŶĐĞĚ ƚŚĂƚ /ŶǀĞƐƚŽƌƐ // K ƐĞŶƟŵĞŶƚ͕ ĂƐ W> ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ƚŚĞ ĐŽŵƉĂŶLJ ǁŽƵůĚ ƌĂƟŽͿ͕ ďĞ ŚŽůĚŝŶŐ ŝƚƐ ϱϭƐƚ ŶŶƵĂů 'ĞŶĞƌĂů Ăƚ DĞĞƟŶŐ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ ϭ͘ϲdž
LA SA C O A F R IP R UD
6.35
5.0%
M ULT IVER SE
8.4
-4.8%
;͞DĞĞƟŶŐ͟Ϳ ŽŶ dƵĞƐĚĂLJ͕ EŽǀĞŵďĞƌ ϯϬ͕ ϮϬϮϭ Ăƚ >ĂŐŽƐ DĂƌƌŝŽƚ ,ŽƚĞů͕
ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ
J A IZ B A N K
0.65
4.8%
M TNN
5.4
3.9%
ϭϮϮ :ŽĞů KŐƵŶŶĂŝŬĞ ^ƚƌĞĞƚ͕ /ŬĞũĂ 'Z ͕ >ĂŐŽƐ ^ƚĂƚĞ Ăƚ ϭϮ͗ϬϬ Ɖŵ͘ ĐͲ
N GXGR OUP
19.20
4.6%
F ID ELIT YB K
5.0
1.9%
ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ
ĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ĐŽŵƉĂŶLJ͕ ƚŚĞ ƐƉĞĐŝĂů ďƵƐŝŶĞƐƐ ǁŽƵůĚ ďĞ ƚŽ ĂƉͲ
< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ƉƌŽǀĞ ƚŚĞ ƐƵŵ ŽĨ േϲ͘ϵϳďŶ ĨƌŽŵ ƚŚĞ ĐŽŵƉĂŶLJΖƐ ƐŚĂƌĞ ƉƌĞŵŝƵŵ ĂĐͲ
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 P ric e
P ric e C hg %
T ic k er
Value
B ER GER
8.55
-9.5%
M TNN
1077.0
3.9%
ƐŚĂƌĞƐ͘ dŚĞ ďŽŶƵƐ ƐŚĂƌĞƐ ;േϭϬ͘ϰϲďŶͿ ǁŽƌƚŚ ϮϬ͘ϵϮďŶ ŽƌĚŝŶĂƌLJ ƐŚĂƌĞƐ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ
C A VER T ON
1.70
-9.1%
Z EN IT H B A N K
427.2
-0.4%
ŽĨ ϱϬŬ ĞĂĐŚ͕ ǁŽƵůĚ ďĞ ĂƉƉƌŽƉƌŝĂƚĞĚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ƚŽ ƚŚĞ ŵĞŵďĞƌƐ ǁŚŽƐĞ ŶĂŵĞƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ
UP L
2.13
-7.4%
UA C N
360.5
7.1%
0.41
-6.8%
A IR T ELA F R I
225.4
2.6%
21.70
-5.7%
UC A P
169.8
2.6%
A C C ESS
144.4
0.5% 3.3%
ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ĐŽƵŶƚ ĂŶĚ േϯ͘ϰϵďŶ ĨƌŽŵ ƚŚĞ ĐŽŵƉĂŶLJΖƐ ƌĞƚĂŝŶĞĚ ĞĂƌŶŝŶŐƐ ĂƐ ďŽŶƵƐ
ĂƉƉĞĂƌ ŝŶ ƚŚĞ ZĞŐŝƐƚĞƌ ŽĨ ŵĞŵďĞƌƐ Ăƚ ƚŚĞ ĐůŽƐĞ ŽĨ ďƵƐŝŶĞƐƐ ŽŶ ƚŚĞ
ǁŝŶĚƐ ƵƉ͘
T ic k er
R EGA LIN S C ON OIL
P ric e C hg %
ϮϯƌĚ EŽǀĞŵďĞƌ ϮϬϮϭ͘ ƉƌŽƉŽƌƟŽŶ ŽĨ dǁĞůǀĞ ;ϭϮͿ ƐŚĂƌĞƐ ǁŽƵůĚ ďĞ
M ULT IVER SE
0.20
-4.8%
ĂůůŽĐĂƚĞĚ ĨŽƌ ĞǀĞƌLJ EŝŶĞ ;ϵͿ ƐŚĂƌĞƐ ĂůƌĞĂĚLJ ŚĞůĚ ďLJ ƐƵĐŚ ŵĞŵͲ
N A SC ON
14.00
-4.4%
ST ER LN B A N K
125.1
-4.0%
GT C O
113.6
-1.1%
113.2
0.0%
101.9
0.0%
ďĞƌ͕ ƐƵďũĞĐƚ ƚŽ ƚŚĞ ĂƉƉƌŽǀĂů ŽĨ ƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞ ƌĞŐƵůĂƚŽƌLJ ĂƵƚŚŽƌŝͲ
Afrinvest West Africa Limited
WA P IC
0.48
M B EN EF IT
0.25
-3.8%
B UA C EM EN T
WEM A B A N K
0.86
-3.4%
FB NH
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
45
WEDNESDAY NOVEMBER 10, 2021• T H I S DAY
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 08Nov-2021, 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 167.66 169.13 2.80% Afrinvest Plutus Fund 100.00 100.00 8.18% Nigeria International Debt Fund 320.77 320.77 -15.98% Afrinvest Dollar Fund 106.68 107.73 -4.14% 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 9.13% AIICO Balanced Fund 3.35 3.41 -2.98% 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 8.56% Anchoria Equity Fund 142.27 144.07 6.96% info@anchoriaam.com Anchoria Fixed Income Fund 1.15 1.15 -13.86% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.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 20.85 21.48 14.98% ARM Discovery Balanced Fund 456.83 470.61 14.10% ARM Ethical Fund 39.78 40.98 18.00% ARM Eurobond Fund ($) 1.09 1.09 -0.84% ARM Fixed Income Fund 0.99 0.99 -5.78% ARM Money Market Fund 1.00 1.00 8.47% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.2 107.2 5.40% AVA GAM Fixed Income Naira Fund 1,051.00 1,051.00 5.10% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund 1.00 1.00 8.65% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -4.36% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.28 3.75% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.46% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.09% Paramount Equity Fund 17.64 17.97 10.32% Women's Investment Fund 142.67 144.36 7.22% 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 8.65% Cordros Milestone Fund 133.78 134.63 13.24% Cordros Dollar Fund ($) 109.74 109.74 5.16% CORONATION ASSEST 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 100.00 100.00 7.36% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.18% EDC Nigeria Fixed Income Fund 1,166.65 1,187.91 1.44% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.27% Emerging Africa Bond Fund 1.03 1.03 2.83% Emerging Africa Balanced Diversity Fund 1.12 Emerging Africa Eurobond Fund 103.99 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund N/A FBN Balanced Fund 175.06 FBN Halal Fund 114.22 FBN Money Market Fund 100.00 FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund
N/A 150.28 Bid Price N/A N/A N/A N/A
1.12 11.67% 103.99 3.95% invest@fbnquest.com Offer Price N/A 176.36 114.22 100.00
Yield / T-Rtn N/A 5.03% 9.23% 8.98%
N/A N/A 152.33 14.33% fcmbamhelpdesk@fcmb.com Offer Price N/A N/A N/A N/A
Yield / T-Rtn N/A N/A N/A N/A
FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.59% Vantage Balanced Fund 2.91 2.98 2.08% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.76 154.03 -0.80% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.82% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 5.13% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.03 12.10 14.98% Meristem Money Market Fund 10.00 10.00 10.05% 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) 100.72 100.73 7.38% Norrenberger Money Market Fund (NMMF) 100.00 100.00 6.27% 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 1.59 1.62 13.08% PACAM Fixed Income Fund 11.05 11.06 -9.08% PACAM Money Market Fund 10.00 10.00 6.79% PACAM Equity Fund 1.47 1.48 -7.03% PACAM EuroBond Fund 112.37 114.51 2.43% SCM CAPITAL 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 Frontier Fund 135.21 137.60 12.44% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.04% 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 N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A Stanbic IBTC Enhanced Short-Term Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.36 1.38 5.75% United Capital Bond Fund 1.94 1.94 5.80% United Capital Equity Fund 0.94 0.96 17.39% United Capital Money Market Fund 1.00 1.00 9.01% United Capital Eurobond Fund 121.41 121.41 6.04% United Capital Wealth for Women Fund 1.09 1.11 6.89% United capital Sukuk Fund 1.07 1.07 6.79% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.19 13.31 11.14% Zenith ESG Impact Fund 14.67 14.82 20.17% Zenith Income Fund 24.61 24.61 2.57% Zenith Money Market Fund 1.00 1.00 6.42%
REITS NAV Per Share
Yield / T-Rtn
124.98 54.20
10.62% 7.24%
Bid Price
Offer Price
Yield / T-Rtn
13.96 130.29 103.63 18.05 21.20
14.06 133.53 105.91 18.15 21.30
5.61% 8.35% 4.46% 1.52% 16.08%
Fund Name SFS REIT Union Homes 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
VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund
funds@vetiva.com Bid Price
Offer Price
Yield / T-Rtn
3.98 5.62 18.27 1.00 21.90 157.76
4.08 5.72 18.47 1.00 22.10 159.76
6.07% -1.09% 12.66% 6.60% 6.67% -15.03%
NAV Per Share
Yield / T-Rtn
107.28
13.11%
INFRASTRUCTURE FUND 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.
46
WEDNESDAY, NOVEMBER 10, 2021 ˾ T H I S D AY
FOREIGN DESK
COMPILED BY BAYO AKINLOYE
Kamara Harris in Paris to Ease US-France Tensions US Vice President Kamala Harris began a four-day visit to France Tuesday to improve soured relations with America’s oldest ally. Relations between the two countries plunged to a historic low in September when Australia scrapped a $65 billion deal to buy traditional submarines from France in favour of an agreement in which Australia will build nuclear subs with the help of the United States and Britain. Harris will meet with French President Emmanuel Macron after US President Joe Biden told Macron in Rome last month the US had been “clumsy” in its handling of the matter. Harris will first visit the renowned Institut Pasteur to underscore what US officials said were longstanding scientific exchanges between the US and France. She will meet with French and American scientists working to combat COVID-19 globally. Her late mother, a scientist, conducted breast cancer research in the 1980s with the institute’s scientists.
China Accused of Using ‘Gray Zone’ Warfare to Degrade Taiwan’s Defences Taiwan’s Defense Ministry said Tuesday that China is practising “gray zone” warfare against it intending to degrade and exhaust the island’s ability to defend itself. In a report updated every two years, the ministry called the threat from China “grave.” The report says China is using
cyberwarfare, propaganda and international isolation to force reunification without a direct military confrontation eventually. The report adds Beijing is also using more traditional means. The report said China carried out 554 intrusions by flying warplanes into the island’s southwestern theatre of air defence identification zone between September of last year and the end of
August. In October alone, there were 148 intrusions, Taiwan said.
Israel arrests 65 Arabs over illegal arms Israeli police have arrested 65 Israeli Arabs on suspicion of illegal arms dealing in what they say was the biggest ever operation of its kind, reports BBC. The suspects were primarily from
northern Israel but also from the occupied West Bank and East Jerusalem. A former criminal recruited as an undercover agent bought dozens of weapons, including 25 M16 rifles, a machine gun and an anti-tank missile. The government has promised to tackle a deadly crime wave in the community. At least 106 Israeli Arabs, including women and children, have been murdered in the past year, according to a tally by
T H I S D AY ˾ WEDNESDAY, NOVEMBER 10, 2021
47
FOREIGN DESK the Abraham Initiatives, a non-governmental organisation.
Protesters Burn Police Station in Southern Tunisia Angered by an authority’s decision to reopen a controlled landfill in the southern town of Agareb, Tunisian protesters set fire to a police station on Tuesday, witnesses said. The escalation of the protest came a day after the death of a man caused by asphyxiation from gas fired by the police, according to his family and witnesses. The Interior Ministry said the man was not involved in the protests and had died at his home, six kilometres away. Violent confrontations occurred on the town’s streets as police fired tear gas to disperse protesters trying to block roads and throw stones at them. The Agareb landfill, 20km from Sfax, was closed this year after residents complained about the spread of diseases in what they described as an environmental disaster.
Poland Fears ‘Armed Escalation’ with Belarus Poland has warned of a possible armed escalation on its border with Belarus as thousands of migrants attempt to cross the frontier into the European Union. The Polish government accuses Belarus of directing migrants toward the border as part of a campaign of ‘hybrid warfare.’ It’s estimated that thousands of migrants are camped along the border close to the Polish village of Kunica. Several tried to break through the razor wire fence using shovels and bolt cutters Tuesday. Border guards responded with pepper spray and tear gas. Polish authorities said they had detained dozens of migrants. “In the last 24 hours, we had 309 illegal attempts to cross the border. Seventeen foreigners were detained and will undergo an administrative procedure,” Polish Border Guard spokesperson Katarzyna Zdanowicz told reporters Tuesday.
Court Orders Stay of Execution of Malaysian Drug Smuggler An appeals court in the city-state of Singapore has issued an indefinite stay of execution for a Malaysian man convicted of drug smuggling after he tested positive for COVID-19. The court was set to hear a last-ditch appeal from 33-year-old Nagaenthran Dharmalingam on his 2009 conviction for trying to smuggle about 1.5 ounces of heroin into Singapore. His lawyers say Nagaenthran is intellectually disabled and that executing him would violate Singapore’s constitution. Singapore’s High Court rejected the appeal on Monday but granted a stay of execution to allow the lower court to hear the appeal. Nagaenthran is scheduled to be put to death by hanging on Wednesday, but human rights groups and activists have joined with his lawyers in calling for authorities to spare his life because he has an IQ score of 69, a level universally recognised as an intellectual disability. In Geneva, the United Nations human rights office issued a statement Monday urging Singapore to stop Nagaenthran’s planned execution.
Australia Urged to Protect Pacific Migrant Workers’ Rights Australia is doubling the number of migrant workers it will bring in from the Pacific Islands to address chronic labour shortages in its agricultural sectors. But campaigners
Ke n y a n S t u d e n t s S e t 35 Schools on Fire An estimated 35 schools across Kenya have been set on fire in the last month, forcing many to shut down. Authorities say the fires are being set by students and have warned that any student caught in the act of arson will be locked out of the education system. The wave of arson began about a month ago and has gotten increasingly worse. On Sunday alone, five schools were burned. In one incident, a girls’ boarding school in Nairobi caught fire in the middle of the night. Sixty-three students needed medical attention. believe that wage theft and exploitation are rife within the scheme. Each year thousands of people from the Pacific Islands are brought to Australia to work on farms picking fruit and vegetables under a migrant labour programme. However, advocates have argued that the exploitation of vulnerable foreign workers is widespread. Sydney lawyer Stewart Levitt is putting together a class-action lawsuit to sue the Australian government for damages over the scheme. He claims many temporary migrants are forced to live in squalid accommodation and are underpaid. “Their pay slips indicate that even though they are working 40-50 hours a week in very hot and harsh conditions in many instances, they are taking home less than AUD $300 a week,” Levitt said.
UN Adviser Raises Concern over Ethiopia’s Crisis The Special Adviser of the UN secretary-general on the Prevention
The Kenyan government has issued a strong warning against students burning schools, and authorities are making arrests. On Tuesday, six students were arrested, following the burning of a high school in Nyeri county, in western Kenya. A total of 11 were arraigned in court on charges of attempted arson. Visiting a school in eastern Kenya, Education Minister George Magoha said the parents and students would rebuild the affected schools. He said those found to have participated in the arson would be banned from attending public schools.
of Genocide, Alice Wairimu Nderitu, has expressed concern over Ethiopia’s deteriorating situation. “It is essential that all parties take serious and urgent steps to de-escalate the situation and take active measures to mitigate the risk of commission of widespread and systematic violence, including along ethnic lines. This risk is real and must be addressed as a matter of urgency,” said Nderitu She noted that Ethiopians could only address the root causes of their divergences and preserve their country’s unity and stability through genuine and inclusive dialogue. The UN special adviser reiterated concerns expressed in her February 5 and July 30 statements on the situation in this country, noting that the country continues witnessing inter-group tensions and patterns of discrimination against specific groups, including ethnic profiling and incitement to violence. Nderitu joined the High Commissioner for Human Rights in urging national and international actors to take steps for
accountability for the serious violations.
Climate Change Threatens Somalis’ Livelihoods Climate change-related disasters, such as prolonged drought, floods and locust infestations, have displaced thousands of Somali farmers from their land, threatening food security in the Horn of the African nation. Somalia contributes less than 0.003% of greenhouse gas emissions into the atmosphere -- but the impact of global warming is evident in the well-being of the country’s herders and farmers. Fatuma Ibrahim Aden, a mother of eight, is among thousands of farmers currently living in a displaced person camp in Mogadishu after her family’s livestock succumbed to the escalating drought in Qoryoley in the Lower Shabelle region. She says prolonged drought and lack of water that killed their livestock forced her extended family to the city four months ago. She added that they had not experienced such recurring famine in recent years.
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LEBANESE-NIGERIA INITIATIVES... L-R: Chairman, Labanese-Nigeria Initiatives (LNI), Faysal El-Khalil; LNI MBA Scholarship winners, Johnson Nwazuruaha, Ajibola Olubando and Vice Chairman, LNI, Ali Safieddine, at the Meet & Greet in Lagos for the two LNI MBA Scholarship winners at American University of Beirut... recently
Nigeria Holds Security, Investment Summit in Paris Tomorrow State actors plot final onslaught against terrorists Bill to establish centre for control of arms scales second reading Deji Elumoye in Paris and Kingsley Nwezeh in Abuja Nigeria will today hold an International Partnership Forum (NIPF), in Paris, capital of France, to accompany and strengthen Nigeria’s participation in a three-day Paris Peace Forum (PPF) starting tomorrow. A release issued in Paris yesterday evening by the Media Assistant to PresidentMuhammadu Buhari, Garba Shehu, stated that the one-day Forum holding at Shangri-La Hotel, would have the president deliver the keynote address at an event that brings together the Nigerian and French governments and private sectors in wide-ranging discussions focused on security, regional stability, trade and industrialisation. In another development, War commanders, intelligence chiefs and heads of other security agencies, yesterday, met in Maiduguri, Borno State capital, to map out strategies on a grand offensive against terrorists still holding out in their enclaves in the North-east. Also, an executive bill seeking to establish the National Centre for the Coordination and Control of the Proliferation of Small Arms and Light Weapons, yesterday, scaled Second Reading in the Senate. However, the Summit in France, aimed to attract investment to Nigeria, and bridge existing infrastructure gaps, the statement stated. Additionally, it would spotlight Nigeria’s immense trade and investment opportunities, reset false and distorted narratives about Nigeria, and shed light on the efforts, initiatives and successes achieved in both
the public and the private sectors, as the country charted a trajectory of recovery from the COVID-19 induced global economic downturn. Speakers and panelists at the NIPF, included top Nigerian and French government functionaries, ministers and heads of MDAs as well as Nigerian and French private sector operators. Other participants included the Deputy Secretary General of the United Nations (UN); Directors General of the World Trade Organisation (WTO), United Nations Industrial Development Organisation (UNIDO) and French Development Agency; Presidents of the African Development Bank and African Export Import Bank; the French Minister of Foreign Trade and Economy; and the National Security Adviser, Major General Babagana Munguno (rtd). However, on the planned onslaught against terrorist, already, some 17,000 terrorists had reportedly surrendered to troops with their families. The meeting was the first enlarged inter-agencies roundtable on the counterinsurgency operations in the last five years. The last time such a meeting was convened was under the Chief of Defence Staff (CDS), Gen Lucky Irabor, while he served as Theatre Commander between 2016 and 2017. The 12-year insurgency has killed about 100,000 people including civilians, soldiers and other security personnel while $9.2 billion (N3.42 trillion) worth of property were destroyed in Borno, Adamawa and Yobe States. Those that attended the security
meeting were the Theatre Commander, Operation Hadin Kai, Man Gen Christopher Musa; the Deputy Theatre Commander, MajGen Ibrahim Jallo; Acting General Officer Commanding 7 Division, Nigerian Army, Maiduguri, BrigGen Abdul Wahab Eyitayo; the Maritime Component Commander, Cmdr. R M Shammah; the Theatre Logistics Component Commander, Brig-Gen. Emmanuel Akpan and other principal staff officers of the theatre. Others were the Director, DSS, State Commandants of the Nigeria Security and Civil Defense Corp (NSCDC), National Drug Law Enforcement Agency (NDLEA), State Comptrollers of Customs, Immigration, Correctional Services and the Federal Road Safety Corp (FRSC), leaders of Civilian JTF, vigilantes and hunters. Speaking at the meeting, Musa, said the meeting was convened to consummate the synergy between the military and other security agencies in a renewed bid to end terrorism in the North-east. “Today’s (yesterday) meeting is aimed at bringing all security stakeholders together to discuss matters of great importance on the security situation we are facing", he said, stating that the massive surrender of terrorists, non-combatants and their families had hit 17, 000, and that the meeting was designed to chart a new course to strengthen the synergy among the military, police and other security agencies fighting the terrorists in Sambisa Forest and the Lake Chad region. Meanwhile, the Executive bill
seeking to establish the National Centre for the Coordination and Control of the Proliferation of Small Arms and Light Weapons was sponsored by the Senate Leader, Yahaya Abdullahi (APC, Kebbi North). Leading debate, Senator Abdullahi, said the centre, when established would, among others, coordinate and control the proliferation of small arms and light weapons in Nigeria. “Today, in this country, there is general insecurity as most parts of the country experience high level of crimes perpetrated using illicit arms. The UN estimates that about eight (8) million illegal arms are in circulation in West Africa and a substantial percentage of this numbers are in Nigeria. “This has greatly fueled violent
The leadership of the ruling All Progressives Congress (APC) is awaiting the intervention of President Muhammadu Buhari to resolve the deadlock reached by the Tripartite Committee set up by the party on direct primary adopted by the National Assembly for selection of parties' candidates. Kogi State Governor, Yahaya Bello, who made this known to newsmen yesterday after a meeting of the enlarged Tripartite Committee on the party's position on direct primary at the Banquet Hall of the State House, Abuja, said the fear of the executive was
the lack of an alternative provided in case the direct primaries failed. According to him, the final decision on the matter rested with President Buhari, whom he noted would decide whether to assent to the Electoral Bill as it was or return it to the National Assembly. Bello said if the President failed to assent to the bill, it would not be the first time, adding that, if he assented to the bill, the governors would have no choice but to work for its implementation. “This is the Tripartite Committee set up by the the President being the executive, the legislature and our great party to ensure that every topical issue that affects the people of this country at
various arms of government is well discussed by the party and taking good decision in the best interest of everybody,” he said. On whether the governors were comfortable with the decision of the lawmakers, Bello said,“I don't think any governor or anybody whatsoever as far as APC is concerned is afraid or have any reservations as far as our participation is concerned. “The only concern is the implication of having only one option. In case an option fails, what happened? If for instance, now, INEC set a date for election and you can’t shift, what you do. And if circumstance beyond control arose what do we do?”
weapons into Nigeria,” he said. Abdullahi explained that the responsibilities of the Centre, when established would include identifying the main routes of small arms, ammunitions and light weapons; formulating policies and guidelines for the eradication of the illegal importation and proliferation of small arms, ammunitions and light weapons into Nigeria; and training of corps towards the effective enforcement of the its mandate. The bill, after scaling second reading, was however referred by the Senate President, Ahmad Lawan, to the Committee on National Security and Intelligence. The Committee, chaired by Senator Ibrahim Gobir, was given four weeks to report back to the upper chamber.
Accountant General to Senate: I Can't Disclose What Comes in, Goes Out of Revenue Account Emameh Gabriel in Abuja The Accountant General of the Federation, Ahmed Idris, has told the Senate Committee on Finance that his office holds the Senate no obligation to furnish it with what comes or goes out of the Consolidated Revenue Account of the federation. Idris said this yesterday, when he appeared before the Senate Committee on Finance Chaired by Senator Olamilekan Adeola to defend his office's 2022 budget
Direct Primaries: APC Awaits Buhari's Intervention as Committee Meeting Ends in Stalemate Deji Elumoye
conflict as witnessed in the Niger Delta, Kidnapping in the South East, armed robbery pandemic in the South West, ethnic and religious violence in the North Central and above all, Boko Haram operation in the North East Zone. “This ugly situation has plugged essential machineries needed to combat illegal importation of small Arms, Ammunition and light weapons from all ratification. “It is quite obvious that the effects of illegal Arms and weapons of terror in Nigeria are self-explanatory and it calls for concerted effects by all and sundry to successfully fight against this illicit trade of illegal arms and weapons of terror. “It is within this framework, that this Bill coming from the executive to combat illegal importation of small arms, Ammunition and light
Speaking on if the decision to insert direct primary in the Electoral Bill could still be changed, the Kogi Governor stated, “In their own wisdom, nobody is going to meddle into affairs of the legislature. So, whatever decision they have taken, if it is in the interest of the people, so be it. If in their own wisdom that is how they want it, so, be it.” Asked whether the governors would accept the direct primary, he said it was up to the President to decide what becomes of it, adding, “Whatever the legislature will pass and is acceptable by the executive, then, everybody will have to buy in and make sure it works.
estimates. The Accountant General who is the administrative head of the country's treasury earlier in his report gave a sketchy review of the budget performance of the 2021 fiscal year, which excluded the revenue realised by the federal government. He told the Committee that there have been increase in remittances to the Consolidated Revenue Account, saying it was the first time the in history of the country that there have been Finance Attache spread across the country's foreign missions abroad. Idris said his office has also deployed a team of "ten revenue directors to various revenue generating agencies and so far it has yeilded a very good results". Not satisfied with the report, Senator Adeola requested the Accountant General to furnish the Committee with the revenue surplus the government had till September to validate his report on the rise of revenue as a result of the deployment of revenue directors across major revenue generating agencies and departments. Other members of the Committee also requested that he furnish them with what came in and what went out of the federation account during the months under consideration, which include what all the various agencies remitted. On his part, Senator James Manager, said he was not comfortable with the report of the office of the Account General as it was expected that the office
provides the Committee with details of revenue remitted by various agencies into the CRA. He said: "When giving us a general overview of what the government is getting and what the government is spending, one thing that I expect from this your high exalted office is some sort of clue to what these revenue generating agencies of government are bringing. What is the revenue profile of the government, so that we now know how much is coming into the coffers of this government from within. So that we can now advise ourselves as to whether or not to continue to borrow". The ranking Senator expressed fear over the continue borrowing by the federal government, noting that recent investigation by the Committee has shown that there are a lot of leakages in revenue generating agencies. Responding to the request of the Committee, the Account General declined speaking on the revenue remitted to the CRA and and what went out of it from January to September 2021. He said: "With due respect to this honorable Committee, my preoccupation here is to present the budget of the office of the Accountant General of the Federation not budget of the of the Federal Government. Idris however pleaded that if his presentation did not satisfy the Committee, he should be given the time to update the committee with every necessary information it so desired.
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Aiteo Reports Leak on Oil Facility, Begins Reparation Emmanuel Addeh in Abuja Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the Nigerian National Petroleum Corporation NNPC /Aiteo Joint Venture (JV) on OML 29 has reported an oil spill from one of its facilities. It was learnt that the incident, which happened on Friday, November 5, 2021 occurred on a non-producing well head in its Santa Barbara South field, in Nembe Local Government Area of Bayelsa State. A Spokesman for the company, Mr. Matthew Ndiana, in a statement, disclosed that the magnitude of the incident “is of an extremely high order”, stating that neither the cause of the spill nor the quantity of leaked hydrocarbon could be determined at the time of the discovery. However, Aiteo noted that containment booms were deployed, adding that recovery commenced immediately around the wellhead. “As an incident of this nature imports, the necessary oil spill notification report has been promptly communicated to the National Oil Spill Detection and Response
Agency (NOSDRA), Nigerian Upstream Petroleum Regulatory Commission(NUPRC) and the National Petroleum Investment Management Services(NAPIMS) as is required by regulation,” the company stated. The indigenous oil firm
explained that a Joint Investigative Visit (JIV) to the spill site had been held by all relevant stakeholders, including the community, but said the process at the time, was inconclusive, owing to difficulties in accessing the
area due to high pressure of hydrocarbons from the wellhead. Additionally, the company stressed that immediate efforts to control the leak were aborted due to the high pressure emanating from the well head.
“Consequently, Aiteo has mobilised a full intervention team with well control specialists and equipment, both locally and internationally to arrest the leak,” the company pointed out. It explained that the JIV
team commended the company for its prompt emergency response and handling of the incident, declaring that further investigations on the cause of the mishap were being undertaken and will be accelerated after the well has been shut in.
YOU ARE DOING WELL…
L-R: ARISE News Channel Business Correspondent, Mr. Rotus Odirri; Corporate Affairs Manager, Pfizer Specialties Limited, Mrs. Oluwayemisi Mafe; Deputy Managing Director, ARISE News Channel, Mr. Emmanuel Efeni; Country Manager, Nigeria, Cluster Lead West Africa, Mr. Olayinka Subair; and Regulator Affairs Director, Sub-Saharan Africa, Mrs. Bunmi Femi-Oyekan during the visit of Pfizer Specialties Limited management team to ARISE News Channel in Ikoyi, Lagos…yesterday
Police Arrest Three for FG Plans Bond Issuance to Curb Growing Housing Shortage Murder of Retired Army Fashola insists third mainland bridge not faulty Capt in Rivers Emmanuel Addeh in Abuja
Blessing Ibunge in Port Harcourt The Rivers State Police command has arrested three persons in alleged connection to the kidnap and subsequent killing of a 64 years old retired Army Captain known as Godfrey Zwallmark in the state. Late Zwallmark was kidnapped at Agbonchia in Eleme Local Government Area of the state on September 18, this year and killed at Igbo-Etche community where his abductors demanded ransom. It was also revealed that the kidnappers shot their victim on his led when he refused to go with them during the abduction. The injury may have led to his death. Briefing newsmen yesterday at the scene where the remains
of the retired army officer was recovered, the State Commissioner of Police, Eboka Friday, said when the incident occurred, it was reported to the police a month later. CP Eboka stated that as soon as the matter was reported, the Police swung into action and through due intelligence arrested three suspects, Frank Ishie, Iwuji Reginald, Gomba Okparaji. The CP disclosed that the suspects had demanded N2 million from the family of the retired Army Captain. “Captain Godfrey Zwallamark (rtd) was abducted by three armed men on a motor bike. However, in the course of investigation, Operatives of the FIB (IRT) led by CSP Ahmadu Adamu, acting on credible information, arrested three suspects.
To tackle the rising housing shortage in the country, the federal government yesterday disclosed that it had concluded arrangements to float a national housing bond for real estate developers and other operators in the sector. The Director General of
the Debt Management Office (DMO),Ms. Patience Oniha, who spoke during a housing investment forum in Abuja, organised by the Ministry of Works and Housing, explained that in spite of efforts by the government to reverse the trend, it was obvious that the public sector alone cannot fund the sector. At the event tagged: “Exploring
the Option of National Housing Bond for Housing Development: Public-Private Sector Collaboration”, Oniha lamented that affordable housing remains elusive. She listed relatively high population growth rate, difficult procedures for land acquisition and development, inadequate funding as well as high cost of
building materials as some of the challenges besetting the building industry in the country. Oniha explained that with the national housing bond, the federal government could access large capital from markets at a lower rate, stressing that the deficit in the housing sector needed to be tackled with emphasis on affordable housing.
KWASU Lecturer Arraigned in Ilorin over Sexual Assault Hammed Shittu in Ilorin Kwara State University (KWASU) lecturer, Pelumi Adewole, was yesterday arraigned before a Magistrate Court in Ilorin over offence bothering on sexual assault and malpractice. The suspect was arrested by the men of the State Intelligence Bureau (SIB) over offences bordering on ‘criminal
intimidation, sexual harassment and examination malpractices among others’. The offences contravened Sections 397, 95 of Penal Code Law and Section 3(320) of the Examination Malpractices Act CAP E15 Law of the Federation of Nigeria 2004. The Kwara State chapter of the Federation of International Women Lawyers (FIDA) was also a party in the case.
The President of FIDA, Mrs. Grace Okoduwa, told journalists yesterday that the suspect just wedded in June. According to the First Information Report (FIR), a petition datedOctober 15, 2021, was written by one Adegunsoye Faith Tosin, a student of the department of Pure and Applied Science. Adegunsoye alleged that sometimes in September
2021, Adewole, who is a lecturer assigned to teach her a course, MLS 212 Cell and Molecular Biology, called her and threatened to fail her in her forthcoming examinations if she refused to have sexual intercourse with him. Due to the threat issued by the defendant, the police instructed Adegunsoye to play along with him in order to obtain raw evidence.
House Okays Retirement Bandits Kill Seven Police Officers in Zamfara were patrolling in the area battle before overpowering telecommunication services Age Extension for Teachers Onuminya Innocent yesterday. them killing seven at a spot. and bad road are affecting the
Udora Orizu in Abuja
The House of Representatives has approved and Executive Bill seeking an extension of retirement age for teachers in Nigeria. The lawmakers approval followed the consideration and adoption of a report presented by the House Leader, Hon. Ado Doguwa and Hon. Adekoya Abdul Majid, at the plenary on yesterday. President Muhammadu Buhari had in June transmitted the Bill to the National Assembly. The legislation specifically seeks to increase the retirement age for teachers from 60 to 65 years. The bill also seeks to extend the years of service for teachers from 35 to 40 years. Buhari, had in the letter
explained that the piece of legislation would provide for harmonised retirement age for teachers in Nigeria. The letter read in part, “Transmission of the Harmonised Retirement Age for Teachers in Nigeria Bill 2021 to the National Assembly for consideration. Pursuant to Section 58 subsection 2 of the 1999 Constitution of the Federal Republic of Nigeria (as amended), I forward herewith the harmonised retirement age for teachers in Nigeria Bill, 2021 for consideration by the Senate. “The harmonised retirement age for teachers in Nigeria bill 2021 seeks to increase the retirement age for teachers from 60 to 65 years, and also increase the possible years of service from 35 to 40 years.
No fewer than seven police personnel have been reportedly killed by suspected bandits along Tofa Magame road in Gusau Local Government Area of Zamfara State. Sources said the incident occurred about 6pm Nigerian time when the police operatives
The bandits were said to have ambushed the police operatives killing six of them and set ablaze the operational vehicle with the driver inside. Eyewitnesses told THISDAY that the bandits who were about one hundred engaged the Police operatives in a gun
THISDAY also gathered that before someone could run to call for reinforcement the bandits had killed the seven police operatives and set ablaze their operational vehicle. The eyewitnesses, who spoke on condition of anonymity, said the shutting down of
fight against banditry in the state which resulted in losing the seven police operatives. At the time of filing this report the bodies of the seven police men had been deposited at the Yarima Bakura Specialist Hospital in Gusau, the State capital.
COVID-19: Pfizer Calls for Urgent Intervention on Vaccination Rebecca Ejifoma Pfizer, an American multinational pharmaceutical and biotechnology corporation, yesterday called for urgent intervention in the vaccination against COVID-19 in the society. The organisation made the call during a courtesy visit to ARISE News channel in Ikoyi,
Lagos State, yesterday. The Country Manager, Cluster Lead West Africa for Pfizer, Olayinka Subair, implored Nigerians and the world to come up with solutions to the pandemic rather than criticisms. He stated this in his reaction to some negative theories of the impact of mRNA technology, an experimental messenger, offering
speed and flexibility to combat a fast-moving epidemic. Speaking to Arise TV Analyst and THISDAY Executive Director, Mr. Emmanuel Efeni, the country manager bemoaned claims that after one month of being vaccinated, you see people falling on the streets and dying. According to him, “All these
rumours do not have basis. Studies have shown that people who are vaccinated have less risk of hospitalisation. It’s one of the advantages of immunity. “There is a need for urgent intervention. Imagine, for two to three months, no air flight. Some businesses can’t recover. Now, if it continues for that long it will be bad for everyone.”
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Gunmen Kill Retired Airforce Officer in Kaduna John Shiklam in Kaduna A retired Airforce officer, Air Vice Marshall Muhammad Maisaka has been killed by gunmen at his residence in Ragasa, a suburb of Kaduna metropolis, Igabi Local Government Area. Maisaka who is said to be the proprietor of MSK Hospital Rigasa, was shot dead in the early hours of Tuesday at his Makarfi Road residence by unknown gunmen. Confirming the incident, the spokesman of the Kaduna State Police Command, Mohammed Jalige, said the retired Airforce officer was killed in the early hours of Tuesday when unknown gunmen invaded his residence. He added that the security guard of the deceased was also injured during the attack and was taken to the hospital. Jalige said: “When the information was received; the Commissioner of Police, Mr. Mudassiru Abdullah, directed the Divisional Police Officer and the Area Commander to the scene.
“The corpse has been evacuated to the hospital and the gateman has also been rushed to the hospital
for treatment. Details of the incident would be made available soon.”
Jalige called on residents of the area to assist the police with useful and timely information that could lead
to the arrest of the criminals. Igabi LGA, is among the areas where telecoms services had been shutdown
by the Kaduna state government as part of strategies to tackle bandits and kidnappers.
REWARDING EXCELLENCE…
L – R: Legal Manager, Intellectual Property and Technology, Legal Services, Nigerian Exchange Limited (NGX), Mrs. Nkemakonam Isiozor; Ag. Head, Business Support Services Division and General Counsel/ Head Legal Services, NGX, Mrs. Irene Robinson-Ayanwale; Senator Tolu Odebyi, –Ayanwale; Vice Chairman, Senate Committee on Marine and Federal Capital Territory,Senator Tolu Odebiyi and Head, Litigation and Alternative Dispute Resolution, Legal Services, NGX, Mr. Oghenekevwe Okpobia, during the ESQ Nigerian Legal Awards 2021 in Lagos…recently
Vulcanizer, Kidnap Kingpin Imo Needs United Legislature, Says Uzodimma night when he received the newly interference, saying “what democrat he submitted to the Uneze in Owerri elected speaker of the Assembly, happened that resulted into a doctrine of separation of powers, Arrested in Ekiti over Abduction Amby Governor Hope Uzodimma Mr. Kennedy Ibe, representing peaceful and democratic election insisting that “when this is fully of Imo state has challenged Obowo state constituency, who of the new speaker is a victory applied the three arms will surely of Petrol Dealer, Others deliver on their mandate.” members of the Imo State House replaced former Speaker, Mr. Paul for democracy.” He called on the lawmakers He called on the members to of Assembly to work as a team Emeziem following his removal
Victor Ogunje in Ado Ekiti
A vulcaniser, operating in Ado Ekiti, Mr. Ige Adu and a Kidnap kingpin, Mr. Bummi Ogunremi, were among the suspects arrested by the police in Ekiti State, in connection with the abduction of a renowned oil dealer, Mr. Suleiman Akinbami, in January 2021. Similarly, the criminal gang was allegedly responsible for the abduction of former Surveyor General of Ekiti State’s wife, Mrs. Osalusi Funmilola, one Olowo Bolaji and Abiodun Ajayi, who died as a result of injuries sustained during the kidnap. While Akinbami was picked up at his filling station, Mrs. Osalusi was kidnapped at her residence within the vicinity of the petrol dealer’s business premises located along Federal Polytechnic Road, Ado Ekiti. For quick arrest of other criminal gangs who had bolted
and are now at large, the Ekiti State Police Command has placed a N5 million price tag on the fugitives as a reward for anyone who supplies credible information concerning their whereabouts. Addresing journalists during a parade in Ado Ekiti yesterday, the Police Public Relations Officer, Ekiti Command, Mr. Sunday Abutu, said the alleged culprits were nabbed on November 6, 2021, at about 4p.m,, by operatives of Rapid Response Squad (RRS), based on a thorough investigation and tips from members of the public. Abutu said: “During interrogation, the suspects confessed to be responsible for the kidnapping of one Olowo Bolaji ‘m’ in Ipoti-Ekiti on January 29, 2020. They also confessed to have kidnapped one Mr. Suleiman Akinbami, a petrol dealer, who was kidnapped on January 10, 2021, in Ado-Ekiti.
and trust each other if they want to make the desired impact. The governor also reiterated that he will not interfere in their independence as an arm of government but rather partner with the members on how to serve Imo people better. Uzodimma spoke Monday
by his colleagues. Uzodimma urged the lawmakers to work as a team and eschew tendencies that cause division among them. He congratulated the lawmakers for resolving to elect the speaker of their choice peacefully without external
to work towards a united house where there will be mutual trust. “Imo State needs a united, functional, effective and efficient house of Assembly that will work towards giving the people the desired dividends of democracy,” he said. The governor noted that as a
imbibe the spirit of team work, requesting that they “forgive each other and forge ahead.” Uzodimma also reminded the lawmakers that God is the ultimate decider of what anyone will be in life and, or what position one will occupy as a human being.
NB Plc Boosts Job Creation with N78bn Investment in Raw Materials Nigerian Breweries (NB Plc) has invested N78 billion in the cultivation of raw materials in the country in the past five years to boost job creation. NB’s Corporate Affairs Director, Mrs. Sade Morgan, said this at a media parley in commemoration of the company’s 75th anniversary on Morgan said the company had invested N78 billion in
cultivating locally sourced materials as well as sorghum and cassava value chain through commercial purchase and smallholder farming in the last five years. She noted that the company had prioritised import substitution and accretion for foreign reserve with the N78 billion in investing and cultivating locally sourced materials.
Morgan added that the company invested N20 billion in sorghum value in 2021 through commercial purchase and smallholder farming. She said the company had attained about 56 per cent in local sourcing of raw materials and 100 per cent backward integration in packaging. “We have done about 56 per cent in local material sourcing
but our packaging material is at 100 per cent; the challenge with the raw material is the availability of ingredients that go into making most of our products. “So, that is an area where we will continue to pioneer as we did with sorghum with backward integration and investing to realise in Nigeria the products needed essentially for our products.
Fountain of Life Pastor, NMDPRA, NNPC, Marketers Resolve to Avert Looming Petrol Crisis steady supply and distribution movement of petroleum Maritime Administration and Uzoho Odukoya Loses Wife, Nomthi Peter of petrol nationwide. products, using the Investors’ Safety Agency (NIMASA). Among the decisions taken and Exporters’ (I&E) window According to the communique The Nigerian Midstream
Chiemelie Ezeobi
Pastor Rosemary Simangele Nomthi Odukoya, the wife of the Presiding Pastor of The Fountain of Life Church, Pastor Taiwo Odukoya is dead. According to a terse publication by the church on its Instagram handle, the deceased battled cancer for the two years until she died. Also, the widower posted on his Instagram handle that “she battled cancer for the better part of two years, she stood on the Word of God, and she fought. “She gave me 11 beautiful years of marriage and two wonderful boys, who I know will be very significant in life. I loved her with all my heart, but who am I to fight with the will of God. “The truth is, at one point in
our lives, we all will have to say goodbye. So for now, till we meet again in glory, Goodbye Nomthi.” The duo had been married for 11 years and they celebrated their anniversary on January 5 at the Fountain of Life Church, Ilupeju, Lagos. The marriage came four years after his first wife, late Pastor Bimbo Rosemary Odukoya (née Williams), died in the 2005 Sosoliso air crash. A South African, Nomthi as she was fondly called, was living in London, where she worked as a music director before Odukoya visited for a speaking engagement. Prior to her death, she was an associate senior pastor at Fountain of Life Church and chairperson of Fountain Initiative for Social Development and the founder.
and Downstream Petroleum Regulatory Authority (NMDPRC) yesterday met with the Nigerian National Petroleum Corporation (NNPC) and other key stakeholders in the petroleum products supply and distribution where they took critical resolutions to ensure
at the meeting held in Lagos yesterday, which were contained in an eight-point communique read by the Chief Executive Officer of NMDPRA, Mr. Farouk Ahmed, was for NNPC to immediately revert to the naira-denominated invoices for excess capacity for coastal
rate for the time being. Other stakeholders present at the meeting included the Major Oil Marketers Association of Nigeria (MOMAN); Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN); Nigerian Port Authority (NPA); and Nigerian
jointly signed by the heads of the stakeholder groups, the NPA and NIMASA should engage their supervising ministry and the Central Bank of Nigeria (CBN) to seek ways of addressing marketers’ challenges relating to payment of dues and levies in dollars.
Extortion: FAAN Apprehends Airline Staff at Lagos Airport Chinedu Eze The Federal Airports Authority of Nigerian (FAAN) has announced that it apprehended a staff of Nigerian carrier, Arik Air, for soliciting and collecting bribe from a passenger. FAAN which did not identify the name of suspect, explained in a statement, “Following an emergency
FAAN management meeting on the incessant extortion of passengers by airport officials at the nation’s airports and steps being taken to address the situation, which had in attendance the MD/CE, Directors of the Authority, Special Adviser to the President on Ease of Doing Business, Dr Jumoke Oduwole, Airport Managers and Airport Chiefs
of Security, a staff of Arik airline had been apprehended while soliciting bribe from a travelling passenger at the General Aviation Terminal (GAT), Lagos.” The agency said in the statement signed by its spokesperson, Mrs. Henrrieta Yakubu that the On- Duty Card of the erring staff had been withdrawn immediately, and
she has been handed over to the relevant security agency for appropriate action in order to serve as deterrent to other bad eggs in the airport. “Recent embarrassing online videos where passengers complained of acts of extortion at the nation’s airport had necessitated the need to devise multi level strategies to curb the menace.
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Police: How Self-acclaimed Soothsayer Duped Couple of N70m
Wale Igbintade
Police men from the Special Fraud Unit, Ikoyi, Lagos yesterday re-arraigned a self-acclaimed soothsayer, Mr. Oladele Olufemi Ayoola aged 45, on a four count charge of obtaining the sum of N70 million under false pretence, forgery and making false information. In a charge marked number FHC,L/243C/2017 the defendant, Oladele Olutemi Ayoola was alleged to have between 2008 and December, 2016 in Lagos, Lagos State, Sango, Otta, Ogun State and Ekiti State with intent to defraud obtained by false pretence more than N70,000,000.00 (Seventy Million Naira only) from Abbey N Becky Enterprises, property of Nichole Integrated Investment Limited represented by Peter Imafidon Omokaro and Catherine Omokaro. The defendant was said to have obtained the money by cash and through bank Plc account no. 0011999499 under the pretence that he is a spiritualist, soothsayer and capable of preventing all types of spiritual and physical attacks and sicknesses The defendant was also alleged to have forget Abbey N Becky Enterpeises identity card with intent that it may in any way be acted upon as genuine by any one that he is a Director in
Abbey N Becky Enterprises to the prejudice of Nichole Integrated Investment Limited represented by Peter Imafidon Omokaro and Catherine N. Omokaro Oladele was further alledged to have falsely accuse Peter Imafidon
Omokaro of having the power of witch craft by telling the wife, Mojisola Omokaro, Catherine N. Omokaro and his children that Peter Imafidon Omokaro was responsible for his wife’s sickness and that he wanted to use the wife
and children for money rituals When the matter came up for trial today, the prosecutor, Mr. Nosa Uhumwangho told the court that he has a four count amended charge before the court and pleaded that the charge to
be read to the defendant so that he can take his plea. Following the reading of the charge, the defendant pleaded not guilty to the four count. Consequent upon his not guilty plea, the prosecutor, Nosa
Uhumwangho told the court that he has one of his witnesses in court and that he is ready to go on with the trial, but due to busy schedule of the court, the matter was adjourned till 17th of February, 2022.
PROMOTING ENTREPRENEURSHIP…
L-R: Chairman, Advisory Board of International Breweries Plc (IBPlc), Mr. Peter Bamkole; Legal and Corporate Affairs Director, IB Plc, Mrs. Temitope Oguntokun; Chief Executive Officer, IB Plc, Mr. Hugo Dias Rocha; and Principal Consultant, AD Consulting, Mrs. Olajumoke Adenowo at the 6th edition of IB Plc’s Entrepreneurship Awards ceremony in Lagos… yesterday ETOP UKUTT
ISDB to Release $150m for Taraba Faults FG’s Award of Bali-Serti Road everything possible to expedite given the wrong impression P.W Nigeria Limited and the Nigeria’s Agro-industrial Sector Wole Ayodele in Jalingo action on the reconstruction of about the present state of the job has reached an advanced James Emejo in Abuja The Islamic Development Bank (ISDB) said it prepared to release the sum of $150 million for the development of Special Agro-Processing Zones in the country. This is as former Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, called for an effective legal and regulatory framework that would enforce the legality of finance contracts and ensure Sharia compliance in order to reap the benefits of Islamic finance.
The Vice President, Country Operations, ISDB, Dr. Mansur Muhtar, said this while speaking during a panel session at the 5th African International Conference on Islamic Finance. He said the money would be released in a matter of days. Speaking on “Infrastructure Financing, Sustainability and the Future of African Markets”, Muhtar said Islamic finance offers several features and practices that could support infrastructural growth in the country.
14-day-old Baby Dumped in Benue Farm Rescued George Okoh in Makurdi
A good samaritan has rescued a 14-day-old child dumped in a farm by yet to be identified mother in Adaka area of Makurdi, Benue State capital. The baby girl, who is battling to survive, was picked up by a good samaritan, Ms. Joy Kwaghtse, along a path leading to her farm on October 26, 2021, at about 12 noon. In an interview with our correspondent, Kwaghtse narrated that it was a pathetic
scene when she picked up the child. She said that the baby was tied in a black linen bag almost suffocating as she had been drenched by a heavy rainfall and eaten up by soldier ants. She said: “I own a farm around Adaka. On this fateful day of October 26, 2021, I had gone to check my farm and saw something tied in a black linen bag on a path to the farm. I did not know what it was but the sight of it from afar instantly gripped me with fear.
The Taraba State Government has faulted the fresh award of the 115 kilometre Bali-Serti Road by the Federal Executive Council, which is currently under construction by the state government. Besides, the state government has appealed to the federal government to do
Serti- Gembu Road to provide access to the Mambilla Hydro Electricity project. Briefing newsmen at the Government House in Jalingo yesterday, the Special Adviser to Governor Ishaku on Media and Publicity, Mr. Bala Dan Abu, stated that the award of the contract by FEC has
road and the work already done on it by the Taraba State Government on behalf of the federal government. Describing the decision of FEC as an unnecessary duplication of effort, DanAbu said that the state government has already awarded the said contract to
stage of completion. He said: “The Taraba State Government has received with surprise news of the approval at a recent meeting if the Federal Executive Council (FEC), the award of contract for the reconstruction of Bali-Serti Federal Road in Taraba State.
Sultan Tasks NYSC on Corps’ Security, Welfare Onuminya Innocent in Sokoto The Sultan of Sokoto, Muhammad Sa’ad Abubakar 111, has charged the National Youth Service Corps (NYSC) to take the security and welfare of corps members serious. Sultan gave the charge yesterday when the Chairman of the NYSC Board, Ambassador
Fatima Abubakar Bala, paid him a courtesy call in his palace in Sokoto. He thanked them for the visit and urged them to do same to other traditional rulers saying traditional rulers are custodian of people hence a need to commit the security of corps members to them. He added that the role of NYSC in promoting
national unity could not be overemphasised. Abubakar stressed that he would work with district heads and security agencies in the state to enhance the security of corps members posted to the state. Earlier the chairman of NYSC board Ambassador Fatima Abubakar Bala thanked the Sultan for his unflinching
support to the scheme. Bala used the opportunity to congratulate His Eminence on his recent 15 years anniversary on the throne. She said they were in the state “in order to appreciate the support that the scheme has being enjoying over the years from his eminence and his council.
Estate Surveyors Vow to Rid Profession of Quackery
Fidelis David in Akure
The National Institution of Estate Surveyors and Valuers (NIESV), yesterday vowed to end quackery in the real estate profession. The National President of NIESV, Mr. Emmanuel Okas Wike, made the vow while briefing journalists
in Akure, after the institute had decorated the Ondo State Governor, Mr. Oluwarotimi Akeredolu, as the patron of the professional body. Wike regretted that nonprofessionals were damaging the image of the profession, and stressed that the institute would do everything possible to stem the trend.
He noted that the decoration of the governor as its patron is in recognition of his giant developmental strides aimed at taking the sunshine state to the next level. Wike said Akeredolu has made the state an investment destination and stressed that the governor has made commendable efforts to combat
the security challenges facing the state. He said: “That progress is being made in all fronts, in spite of the multiple challenges which heralded your assumption of office in 2017, your re-election last year, and the recently concluded legal tussle which ensued is not an overstatement.
Peterside Urges Wike to Employ Teachers in Rivers Blessing Ibunge in Port Harcourt The former Rivers State gubernatorial candidate under the platform of the All Progressives Congress (APC), Dr. Dakuku Peterside, has called on the state Governor Nyesom Wike, to employ teachers in the public primary and secondary schools state. Peterside, who spoke in a
statement yesterday, signed by his media team, lamented the alleged falling standards of education in the state owing to lack of teachers and classrooms. He stated that many schools have been shut down across the state as there were no personnel to teach children. “As at today, Rivers State is lacking teachers in practically all primary and secondary schools. In some cases, many primary
schools have been shut down owing to lack of teachers and even classrooms. “For example, in Etche local government area, more than 30 primary schools do not have teachers, while some have just one or two teachers. “In Obio/Akpor, where the governor comes from, several secondary schools are lacking teachers in core subjects like English, Physics, Biology,
Chemistry, Economics, among others. “Even more shocking is the fact that while teachers are available in some cases, there are no classroom blocks and teaching aids to help impact knowledge”. According to him, “the governor cares less about the future of Rivers children, hence his adamant position not to employ teachers more than eight years after the last set were employed”.
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WEDNESDAYSPORTS
Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com
0811 181 3083 SMS ONLY
Eagles’ Camp in Morocco Bubbles with 21 Players for Liberia Super Eagles players listening with rapt attention to briefings from Head Coach Coach, Gernot Rohr after Tuesday’s training session in Tangier Tangier, Morocco
Ighalo expected today, Enyimba’s Noble on Thursday Duro Ikhazuagbe
Ahead of Saturday’s 2022 World Cup qualifying clash with Liberia, Super Eagles camp in Tangier, Morocco, came alive yesterday as 21 players kicked of training for the Group C cracker. Napoli forward, Victor Osimhen, was expected to hit camp late last night after missing the first training session in the afternoon while returnee Al Shabab of Saudi Arabia striker, Odion Ighalo, is scheduled to
arrive Tangier today. Only Enyimba’s goalkeeper, John Noble, who was late replacement for Francis Uzoho will join the team on Thursday. Before the afternoon training at the Grand Stade de Tanger (also known as Stade Ibn Batouta), a 45,000-capacity facility that was opened in April 2011, Super Eagles had a gym session at the hotel in the morning. Speaking shortly after the training, Super Eagles Head Coach, Gernot Rohr, expressed
WORLD CUP QUALIFIERS his excitement with the swift response by his wards which resulted in 21 players on the first day the camp opened. “We are having great feelings here with the players. Some of them played for their clubs some two three days ago but are here. I have seen some good shootings and goals at training. We are not pushing too hard because of fear of injuries,’ observed the German gaffer.
He said that with only John Noble expected on Thursday, the team will be complete when Osimhen and Ighalo (who is expected today) join the squad for training today. Nigeria on nine points will be hoping to snap up all three points while hoping that Cape Verde drop points in the group’s other game against Central African Republic to smoothen Eagles path to picking the sole
...Liberia’s Lone Star Land in Tangier The delegation of Liberia’s Lone Star arrived in Tangier on Monday after a brief stopover in Abidjan, Côte d’Ivoire from where they connected flights to the Moroccan city. Included in the Lone Star are three goalkeepers, seven defenders, seven midfielders and five forwards for the clash with Nigeria. The Lone Star, at the bottom of
Group C of the African qualifying series with three points, have a very remote chance of qualifying even though they play their final two matches at ‘home’ in Tangier, which is the venue they opted for as home ground after CAF ruled that there is no venue in the whole of Liberia fit and proper to host international matches. Nigeria, the Lone Star’s opponents on Saturday and
group leaders, already have nine points (the maximum that the Lone Star can amass in this campaign, if they win their last two matches). But the Super Eagles have a home game against secondplaced Cape Verde in Lagos on Tuesday next week. After the session with the three-time African champions, the Lone Star will remain in
Tangier for their final game of the campaign, against the Wild Beasts of Central African Republic, also on Tuesday next week. Cape Verde’s Blue Sharks, with seven points, are at home to the Beasts on the island of Mindelo, hoping to garner another three points that could make the final Group C encounter with Nigeria in Lagos a cliff-hanger.
Emenalo in Top Contention for Newcastle Utd Job Former Chelsea and Monaco Sporting Director Michael Emenalo has spoken with Newcastle United's new owners about joining the North East giants, 90min has learned. Newcastle have been looking to appoint a sporting director along with a new manager, and the latter has been finalised after Eddie Howe put pen-to-paper on a deal that runs until 2024. The Magpies have also been looking at the sporting director role, and sources have told 90min that a handful of people have been spoken to. Ajax's Marc Overmars was believed to be one of the leading candidates but he was not keen on leaving his current role. Newcastle want a high-profile candidate who has a history of working on and securing world-
class players - and Emenalo has extensive experience of that from his time with Chelsea and Monaco. Emenalo - himself a former Nigeria international - last worked at Monaco before leaving in 2019. Before that he had spent six years with Chelsea. The 56-year-old worked on deals for the likes of Eden Hazard, N'Golo Kante and Cesc Fabregas, and he is believed to have impressed Newcastle's new regime. 90min understands that Newcastle would like to have a deal for a sporting director concluded within the next couple of weeks, and now Howe is in place the appointment is now their main focus - although they also want a new chief executive before the end of the year.
Other candidates for the role that Newcastle have considered, aside from Emenalo and
Overmars, are Luis Campos, Ralph Rangnick, Edwin van der Sar and Jason Wilcox.
Mike Emenalo...linked with Sporting Director role at rejuvenated Newcastle
ticket at stake. Only the group winners will proceed to the knockout phase in March next year that will be a home-and-away exercise to produce Africa’s five flagbearers in Qatar. Cape Verde’s Blue Sharks, who hosts Central African Republic in Mindelo on Saturday, have seven points
and will be hoping the Super Eagles stumble in Morocco. Nigeria reached the 2018 FIFA World Cup finals with a match to spare; a feat repeated in the qualifying series for the 2019 AFCON. For the 2021 AFCON in Cameroon, the Super Eagles qualified with two matches to spare.
Ighalo Wins West Asia Player of the Month, Concedes Number 9 to Osimhen Super Eagles returnee Odion Ighalo has won the West Asia player of the month of October after his impressive performance for his Saudi Arabia club, AlShabab. Al-Shabab confirmed the win on their Instagram page before the Nigerian international also reshared on his social media pages. Ighalo has scored nine goals in 11 league games for Al-Shabab this season, with four coming in October. Ighalo was recalled to the Super Eagles for the 2022 World Cup qualifiers against
Liberia and Cape Verde late last month by Gernot Rohr, more than two years after he retired from international football. He is expected to join up with his teammates today in Tangier, Morocco. Unconfirmed sources hinted yesterday that the former Manchester United on loan player has conceded the number 9 jersey to current handler of the shirt, Victor Osimhen. Ighalo is believed to have asked Osimhen to keep the number 9 while opted for the number 25 he wore at Old Trafford as show of maturity.
Odion Ighalo...emerges best player in the west Asia
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Injured Pogba Doubtful for Rest of 2021 Season Manchester United midfielder Paul Pogba could miss the remainder of 2021 after injuring his thigh on duty with France. Initial estimates from the France camp suggest the 28-year-old will be out for between six and eight weeks. That will take Pogba to the end of the year, at which point he can sign pre-contract terms with overseas clubs given his United deal runs out in June. If he is out for eight weeks, he would miss two Champions League group games and up to
10 Premier League matches. Uncertainty over Pogba's Old Trafford future has been overshadowed in recent weeks by the home defeats by Liverpool and Manchester City that have sparked further debate around the future of manager Ole Gunnar Solskjaer. The former Juventus midfielder was already going to miss United's next match, away to Watford in the Premier League on 20 November, as he completes a three-match domestic ban following his red card as a
substitute against Liverpool. United boss Solskjaer is already without a number of players because of injury. Pogba's international teammate Raphael Varane is out with a hamstring problem, Uruguay forward Edinson Cavani missed last Saturday's defeat by Manchester Citywhile England left-back Luke Shaw was substituted in the same match after a blow to the head. Shaw is following concussion protocol and did not link up with the England squad on Monday.
West Ham’s Ogbonna Suffers ACL Injury West Ham United defender Angelo Ogbonna damaged knee ligaments during Sunday's Premier League win against Liverpool. Ogbonna, 33, was forced off with an eye injury during the first half but later complained of discomfort in his knee. A scan on Monday showed
the Italy centre-back, an ever present for the Hammers in the league this season, had damaged his anterior cruciate ligament. He will see a specialist later this week to determine whether he needs an operation and a timescale of recovery.
West Ham rose to third in the table after Sunday's 3-2 victoryagainst Liverpool at London Stadium. David Moyes' side are also through to the EFL Cup quarter-finals and have qualified for the Europa League knockout stages with two group games to spare.
Angelo Ogbonna...got injured in West Ham’s 3-2 famous defeat of Liverpool last weekend
NUGA 2022 : UNILAG to Host 10,000 Athletes, Officials Funmi Ogundare
About 10,000 student athletes and officials are expected at the 26th edition of the 2022 Nigerian Universities Games Association ( NUGA) to be hosted by the University of Lagos (UNILAG), Akoka. The games tagged 'A City NUGA', which is holding between 16th and 26th March, 2022, is coming 23 years years after the institution hosted the last one in 1998. UNILAG Vice Chancellor, Prof. Oluwatoyin Ogundipe, who briefed journalists yesterday in Lagos, said about 136 universities are expected to participate in the 26th edition of the games, adding that they will be competing in 17 different games including; football (male
and female) volleyball, basketball, handball, tennis, table tennis, badminton, hockey, cricket, among others. He described sports as a centripetal force, which unite the nation, despite socio-cultural and religious barriers. "The desire to leverage this all-important opportunity that sports presents is what propelled the University of Lagos, under my leadership, to bid for the hosting right of NUGA Games in 2018. "The university won the hosting right after defeating the University of Jos in a keenly contested bid with 76 points to 66 points," he said. With the announcement of this win, Ogundipe said the institution set arrangements in motion
by paying the obligatory fees of N6,000,000 to the NUGA National Council, signing the Memorandum of Understanding (MOU) with the council and constituted the UNILAG-NUGA Local Organizing Committee (LOC) and its 14 subcommittees to drive the planning and preparations for the games. The VC expressed concern that the games was supposed to have held in 2020, but the global COVID-19 pandemic disrupted things, adding that its sporting facilities are currently undergoing massive renovation and reconstruction to international standards to enable individual athletes to have one of their best lived experiences of sporting during the UNILAG-NUGA games.
Paul Pogba who got injured on international duty for France is likely to miss rest of the 2021 football season
NBA: Curry Scores 50 as Warriors Beat Hawks Stephen Curry scored 50 points and had 10 assists to help the Golden State Warriors beat the Atlanta Hawks 127-113 for their fifth straight win in the American NBA. The Hawks led by 15 points in the second quarter before the Warriors outscored them 41-20 in the third, 18 of which came from Curry. The 33-year-old added 10 assists to give him his first double-double in a 50-point game. Guard Trae Young scored a team-high 28 points for the Hawks. Curry, who had been held to 20 or fewer points in four consecutive games, finished 14-for-28 from the field, ninefor-19 on three-point attempts and 13-for-13 at the foul line as the Western Conference leaders improved their record to 9-1. The two-time MVP became just the third player in Warriors history to hit 50 points and 10 assists in the same game after Wilt Chamberlain and Rick Barry, while it was the 10th 50-point game of Curry's career. DeMar DeRozan scored 28 points as the Chicago Bulls ended the Brooklyn Nets' five-game winning streak with an impressive 118-95 victory. DeRozan hit 10 of 20 shots as he contributed at least 25 points for the fifth game in a row. The Los Angeles Lakers returned to winning ways as Anthony Davis scored six of his 32 points in overtime to secure a 126-123 win against the Charlotte Hornets. Carmelo Anthony netted 29
points off the bench while Russell Westbrook had a triple-double with 17 points, 12 rebounds and 14 assists as the Lakers won for the first time since losing star player LeBron James to an abdominal injury. Nikola Jokic had 25 points, 15 rebounds and 10 assists for his first triple-double of the season but was ejected late in the game as the Denver Nuggets saw off the Miami Heat 113-96. Nuggets centre Jokic reacted angrily to a foul by Markieff Morris and that led to both
players being ejected. Cameron Payne scored a joint career-best 24 points off the bench to help the Phoenix Suns beat the Sacramento Kings 109-104 for their fifth successive win. The Dallas Mavericks cruised past the New Orleans Pelicans with a 108-92 win, while Ja Morant scored 33 as the Memphis Grizzlies beat the Minnesota Timberwolves 125-118 in overtime and Julius Randle hit 31 to lift the New York Knicks to a 103-96 win over the Philadelphia 76ers.
Stephen Curry scored 50 points and had 10 assists as Golden State Warriors defeat the Atlanta Hawks 127-113 on Monday night
Wednesday, November 10, 2021
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MISSILE Marwa to Critics of NDLEA’s Strategy
“…One drug baron could have 2,000 people down the street. It’s quite a number. And I’ve heard some say, ‘Well, you know you’re just arresting the small people’. You have to arrest them because at the end of the day, if there’s nobody to sell for you, how will you sell?” ---Chairman and Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brigadier- General Buba Marwa, responding to criticisms that not many drug barons are caught.
KAYODEKOMOLAFE THE HORIZON
kayode.komolafe@thisdaylive.com
0805 500 1974
Humanitarian Issues
I
t is 147 days today that about 60 students of the Federal Government College in Birnin Yauri, Kebbi State, have been in captivity. Another tragic news is that today marks the 130th day in kidnappers’ den of four students of the Bethel Baptist High School in Kujama, Kaduna State. These hapless victims of the crisis of the Nigerian society remain in captivity while their colleagues who were abducted at the same time with them have regained their freedom in batches. Although the authorities have denied that ransom was paid to secure the freedom of some of the students, the kidnappers have reportedly insisted on payment as a condition to set the students free. It is the duty of the Nigerian state, employing all its apparatuses, to ensure the freedom of scores of students held by kidnappers in parts of Nigeria. When that is done, governments at all levels would be acting according to the spirit and letters of the constitution which stipulates that the “security and welfare” of the people shall be the primary purpose of government. The students in captivity are certainly among the “people” referred to in the constitution. It is tragic enough that the Nigerian state has failed these students in the fulfilment of this primary duty; it would be a disaster if the society itself forgets these victims of the climate of insecurity enveloping the country. Their conditions in captivity remain an open sore on the conscience of this nation that has failed to give hope to the generation of these students. To be sure, the students in captivity are among hundreds of kidnapped persons in the country. Their kidnappers demand ransom for them to regain their freedom. It is noteworthy that the police and other security agents have liberated some of the victims taken to the bush and many kidnappers have been arrested. Some suspects have also been taken to court. A lot of positive steps by the officialdom should be duly acknowledged. The fate of the abducted students is related to the material condition of other victims of insecurity facing existential crisis even in freedom. A few days after the United Nations observed that 11million Nigerians were in need of humanitarian assistance, the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFMIR) told legislators in Abuja that one million people have, in fact, been displaced in the last 12 months alone. The lot of those whose lives have been dislocated by the wave of insecurity in the country is hardly a central issue of the shouting match in the public sphere. The predilection of many a commentator is often to widen and distort the ethnic, regional and religious divides. As a matter of fact, the news about the Internally Displaced Persons (IDPs) and other victims of the crisis emanates more from external agencies and non-governmental organisations. An example is the news generated at the weekend when the outgoing United Nations Resident and Humanitarian Coordinator in Nigeria, Mr. Edward Kallon, visited Benue State Governor Samuel Ortom. During the farewell visit, Kallon said the United Nations had estimated that about 11 million Nigerians should be given humanitarian assistance. According to Kallon the multi-dimensional crisis of insecurity in
Minister of Humanitarian Affairs, Disaster management and Social Development, Sadiya Umar Farouq various parts is swelling the IDPs camps. He listed the causes of displacement as the terrorism of Boko Haram war in the northeast and the terrorism (or is it banditry?) in the northwest; the farmers-herdsmen violence in the north central; the activities of the Niger Delta Avengers and those of the Indigenous Peoples of Biafra (IPOB) in the southeast among others. Besides, the United Nations official also made reference to the fact that in the ranking of the 2020 Global Terrorism Index, Nigeria is considered to be the “third most terrorised nation,” behind Afghanistan and Iraq. As a solution, the United Nations representative called for justice, the entrenchment of rule of law and socio-economic inclusion of the youths in particular as the basis of policy. Meanwhile, the humanitarian crisis affecting 11 million souls should compel an emergency response in the true sense of the word. Here we are talking of approximately the equivalent of the combined populations of three other West African countries - Mauritania, Gambia and Guinea-Bissau – as victims of humanitarian crisis! Persons making up this part of the Nigerian population live in precarious conditions in which access to the basic things of life - shelter, food and clothing- cannot be taken for granted. The conditions of women and children in the camps are particularly pathetic. Children die in the camp of dehydration simply because potable water is lacking. To make matters worse, the camps are sometimes attacked by terrorists and other criminals. For instance, the IDP camp in Abagana in Benue State was attacked some months ago. Some of the IDPs who left the camp after the attack have been forced by hunger and homelessness to return after a while. Such is the desperation that defines the lives of those who depend on humanitarian provisions to live. For this category of IDPs, the tragedy is
a double one: they were driven out of their homesteads by terrorists only to be attacked by criminals again in the camps. The security of the various camps around the country should be bolstered. The complexity of the humanitarian issues thrown up in recent months should engage the attention of policymakers and their experts more intensely. This is because rather than abate the problem is, as the statement by the NCFMI indicated, getting worse. According to a Federal Commissioner for the NCFRMI, the agency responsible for the welfare of IDPs, Imaan Sulaiman-Ibrahim, the commission is working on constructing more resettlement centres in Borno, Katsina, Edo and Kano for the accommodation of the displaced persons. Appearing before the House of Representatives Committee on Internally Displaced Persons (IDPs), the federal commissioner said inter alia: “Due to the current unprecedented humanitarian crisis in Nigeria and the alarming growth rate of displacement, the number of IDPs has increased in the past one year by about one million, causing the number of displaced persons in Nigeria to rise to a frightening three million,” she said. “Nigeria is also a host to about 73,000 refugees from 23 countries, with over 500,000 Nigerians awaiting repatriation from Chad, Cameroon, Cameroon, Libya and other countries.” It is also instructive that NCFMRI added that the proposed N1.7 billion for personnel and N4.5 billion for capital component in the 2022 budget would be inadequate for the commission. In philosophical terms, at the heart of the worsening humanitarian crisis in Nigeria is the premium placed on the dignity of the human person in this country. In the reckoning of the United Nations Human Rights Council, a humanitarian crisis does exist in Nigeria with more than three million people in the camps of IDPs. In Borno state alone, about 32 official camps exist. The subhuman conditions in the camps should compel government officials to rethink the approach to the crisis. It is tempting to say that the solution to the problem of an IDP, for instance, is for him to return to his village from where he fled. That, of course, is the ultimate solution. There is also a strong and legitimate view that the closure of the camps should not wait for the “end of the war.” Farmers need to go back to the land in order to prevent famine in many communities.
“The news of millions of people in desperate humanitarian situation and scores of students in the den of kidnappers should never be perceived as routine in any humane society”.
However, the matter is not as simple as that because of the indeterminate nature of ungoverned spaces in many parts. The villages and farmlands should be secure enough for farmers to muster confidence to go back home. There have been reports of IDPs killed in the process of returning to their communities. Security still remains the word. The return of the IDPs is a process that should be scientifically handled. The victims should be assisted materially and psychologically to return to normal lives. The matter becomes more complicated because some of the victims might be returning to their community to meet those who unleashed violence against them and members of their family. The culprits are now called “repentant terrorists.” Without a thorough exercise to establish the “truth” for the purpose of “reconciliation” the reintegration may be riotous. The process does not have to be elaborate; but it must be genuine in order to achieve the purpose. Is there anything at all that could be borrowed from the experience of Rwanda and that of South Africa? Are there historical parallels to draw in the circumstance? The non-prosecution of arrested suspects will even make the process more difficult. The good news is that apart from the activities of the federal Ministry of Humanitarian Affairs, Disaster Management and Social Development as well as those of some agencies, private organisations, foundations foreign and local non-governmental organisations and individuals have been part of the efforts to give relief to the millions in dire need. The magnitude of the problem, however, is such that the best of the combined efforts of these governmental and non-governmental bodies are not good enough to give sufficient succour to those in materially vulnerable situations in the camps and elsewhere which could be more dangerous. That is why with about 15 months to general elections, it is strange that the tragic news from the humanitarian sector is hardly an issue of politics and rigorous public conversations. The condition of these millions of people ought to be given greater attention by the government and the public alike. Beyond ethnic, regional and religious balancing, political parties do not seem to be focusing on these problems. Are the party strategists thinking about these issues at all? Pray, what is really the content of this politics if the fate of these 11 million people is not a central question? To which end is power sought? Beyond capturing more states, politicians should proffer concrete solutions to these problems as part of the necessary national conversations. The news of millions of people in desperate humanitarian situation and scores of students in the den of kidnappers should never be perceived as routine in any humane society. It is in every respect an indication of emergency. So if no one else takes the news of kidnapping as that of an emergency, at least a parent having his child in the bush with kidnappers will doubtless have a sense of emergency at every moment of the day. The policymakers and indeed the rest of the society should imagine themselves in the shoes of these parents. Indeed, the response to the news about the victims of terrorism in IDPs camps and the jungle of kidnappers is a measure of humanity that subsists in the society.
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