Bye-Election: INEC Walking The Roadblocks
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Anxiety,Despair Over Worsening State of Economy
BY AMOS ESELE
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omical as it sounds, last week's protest by a group of women in Port Harcourt, the Rivers State capital, complaining that lack of electricity was making their soup go sour and that the attendant heat would not even let their husbands make love to them, has a metaphorical ring to it. According to a recent World Bank report, Nigeria has the world's largest absolute electricity access deficit in the world. “Lack of access to the electricity grid affects 45 percent of the population (90 million people), making Nigeria the country with the largest number of people not connected to electricity,” the report said. At 4.594 megawatts and frequent collapse of the national grid, the lack of electricity causes, “decay and collapse infrastructure, closure of industries as well as a rapid decline in the availability of social amenities like potable drinking water, improved health care services,” for majority of 200 million Nigerians, government in, government out. Add this underlying huge power deficit to the prevailing hardship following the removal of petrol subsidy and runaway forex market, the picture becomes clearer about the ongoing protests that started in Minna, the Niger State capital and Kano last Tuesday before it rippled through Suleja, also in Niger, and Osogbo in Osun state with fearful chain reactions across other states in the coming weeks. THEWILLNIGERIA
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The situation is compounded by worsening insecurity and armed conflicts across many states in northeastern and northwestern Nigeria, according to the World Bank in its global Food Security Report In its latest Food Security report issued last week, the bank highlighted that significant portions of West and Central Africa are expected to remain minimally food insecure until May 2024. However, Nigeria, specifically the far north regions of Adamawa, Borno, Kaduna, Katsina, Sokoto, Yobe and Zamfara States, are projected to experience crisis-level food insecurity, largely attributed to the ongoing insecurity and dwindling livelihood of the residents of these states, it said, adding that despite government initiatives to cultivate 323,000 hectares of farmland for cultivation of wheat, rice, maize and cassava during the 2024 farming season, the situation remains precarious in the states. In statistical terms, the Consumer Price Index (CPI) report from the National Bureau of Statistics indicated over 33 percent increase in food inflation. The Nigeria Customs Service recently adjusted the rate for collection of duties from $951 to $1,365, with all the implications of increased cost of imports which will be passed to the Nigerian consumer in an import dependent economy. Even the Federal Government knows what is pinching
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most Nigerians and it admits that there is a dire situation. “I think the issue of rising prices is of concern to the Federal Government and everybody in Nigeria. Some major steps are being taken to address the situation,” Mr Wale Edu, Minister of Finance and Coordinating Minister of the Economy, acknowledged a day after protests. Edun, who made this admission during a visit by a German delegation led by that country’s Minister of Economic Cooperation and Development (BMZ), Ms Svenja Shulze, added, “It is the issue of demand and supply and a lot of emphasis has been placed on increasing agricultural production, in particular. “The president has intervened in that sector to provide grain, fertilisers to farmers and to bring additional acreage, rice, wheat, maize and cassava to increase the output and thereby bring down prices and that will in turn help to bring down inflation.” Dr Ike Okonta, Executive Director, New Centre for Social Research, Abuja, thinks otherwise. Government, he told THEWILL, is not driven by development needs of Nigerians, but by political calculations. He said, “Except for a very few appointees, many others are those who will deliver for the president in 2027. This is what in political science is called machine politics.”
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COVER
...Worsening State of Economy LEGAL, CIVIL ACTIONS TO COMPEL GOVERNMENT Persuaded that the dire situation needed a broader approach to make the Federal Government see the reason to act, a Senior Advocate of Nigeria, Mr Femi Falana, SAN, went to court to seek enforcement of relevant Acts to compel official compliance. In an originating summons, which he filed at the Federal High Court sitting in Ikoyi, Lagos State, last Tuesday, the human rights activist got a judgement from the court directing the government to fix prices of goods and petroleum products within seven days. Explaining his reasons for his court action, Falana stated that he approached the court to enforce the provisions of the Price Control Act, which was enacted in 1977. The Price Control Act, according to him, is an existing law that regulates and controls the prices of certain goods in Nigeria. Its main purpose is to ensure that the prices of goods and services remain affordable and accessible to the general public. It aims to prevent price exploitation and to promote fair pricing practices. For this purpose, the government set up the Price Control Board, an agency under the Federal Ministry of Commerce and Industry, as well as the Federal Consumer Protection Commission.
behind them. According to the National Publicity Secretary of the APC, Felix Morka, the protest bore the bold stamp of an orchestrated and coordinated effort by “the mercenary opposition to instigate unrest and undermine the government, “ and “promote social strife by its incendiary rhetoric and manipulative plots.” Reacting, Morka’s counterpart in the PDP, Debo Ologunagba, told THEWILL that the All Progressives Congress-dominated Federal Government should be honest enough to admit that its policies in the last nine months have pauperised the majority of Nigerians. He said, “Any government that has an idea of macroeconomic policy management ought to have recognised that the suffocating policies of abrupt increase in the pump price of petroleum products, high cost of electricity and arbitrary floating of the Naira as executed by the government without due consultations, would have excruciating consequences to the economy as being witnessed today.” National Publicity Secretary of the LP, Mr Obiora Ifoh, reminded his APC counterpart that Niger State is an APC controlled state, so the accusation of opposition as being sponsors of the protest was disingenuous.
The agenda of the meeting was on the efforts that the CBN has put in place to solve the free fall of the Naira and when government policies will start to positively impact Nigerians. Giving the assurance that the exchange rate would soon stabilise, Cardoso said, “In terms of volatility of the exchange rate, we are using various tools to ensure the stability of the exchange rate sooner than later. “I really can’t tell other than to say that I do believe that once all the measures kick in, there will be price discovery that will indeed make sense for everybody. We all have a responsibility to ensure demand and supply. We are working on supply, but on the demand side, we all have to moderate our various interests on that.
Even Fuji music exponent and ‘official’ campaign musician to President Tinubu since his days as governor of Lagos State, Wasiu Ayinde appealed to his principal in a video, saying diplomatically that though Tinubu’s government was taking some lasting steps to make the country great, something drastic has to be done fast to solve the prevailing hunger in the land.
WAY FORWARD
The Agriculture Minister stated that though Nigeria was yet to meet the African Union target of 10 per cent budget for agriculture like Rwanda has done to achieve some measure of food sustainability, the nation has put plans in place to turn things around, particularly in the area of dry-season farming and provision of storage facility to increase the capacity of reserves.
The Federal Government heeded the appeal from stakeholders, particularly the resolution of the House of Representatives, to open the country’s grain reserves and distribute grains to the needy citizens and stop the growing hunger in the land.
Edun who led the Economic Team to the meeting summed up: “For the medium term, be assured that the monetary and the fiscal policies being implemented are going to increase production and funding and the government will play its own role.”
In their renewed efforts to press government to commit to previous agreements on workers welfare and address social and economic pressures caused by bad policies, the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, last week issued a 14-day strike notice to serves as a final appeal to the government to address the grievances of the labour sector and fulfil its commitments to ensure industrial peace and economic stability.
Accordingly, President Bola Tinubu ordered the immediate release of more than 102,000 metric tons of various grain types from the National Food Reserve and the Rice Millers Association of Nigeria.
Author of Powered By Poverty and the immediate past Pro-Chancellor, Governing Council Chairman of Ambrose Alli University, Ekpoma, Chief Lawson Omokhodion, has urged government to embrace a long term look to grow the economy, failing which the country may be eclipsed by bankruptcy. In an article titled, Exchange Rate Unification: President Tinubu’s Poisoned Chalice, he called on the CBN to allow the exchange rate to be determined by the interplay of monetary and fiscal policies and monetary policies, “where the weight of importance does not tilt in favour of any side.''
Goods that the court listed for price control are flour, milk, matches, milk, motorcycles, major motor vehicles and spare parts, salt, sugar and petroleum products, including diesel and kerosene.
Labour stated that the agreements reached with the Federal Government were focused on addressing the massive suffering and the general harsh socio-economic consequences of the ill-conceived and ill-executed IMF/ World Bank induced hike in the price of PMS and the devaluation of the Naira. These dual policies, it further stated, have had as predicted, dire economic consequences for the masses and workers of Nigeria. Labour also observed that widespread hunger was ravishing millions of Nigerians, with the workers' purchasing power significantly eroded, while insecurity had assumed an increasing dimension and Nigerians were left wondering “where their next meals will come from and what tomorrow might bring.” The National Association of Nigerian Students, NANS, is also spoiling for war with Tinubu’s government over the hardship facing Nigerians. National Zonal Coordinator, Comrade Alao John, the Zonal Secretary, Comrade Sanni Olamide, and the Zonal Public Relations Officer, Comrade Bamigboye Oluwadamilola, last week issued a seven-day ultimatum to the government to show clear measures to tackle what it called “a myriad of economic challenges, including inflation, unemployment and a weakening currency, which have significantly contributed to the rising cost of living across the nation,” failing which it shall “mobilise mass protests, if necessary.” TAKING POLITICS OUT OF IT The protests had hardly subsided in Minna and Kano before it resurfaced in Suleja, before the governing All Progressives Congress, APC, accused the major opposition Peoples Democratic Party, PDP and the Labour Party of being
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He said, among others, that “those who took to the streets in Minna, Niger State, a state controlled by the APC, went to the streets not as members of opposition parties, but as citizens bearing the brunt of the present administration’s ineptitude and lack of preparation for governance.”
During their appearance before the joint Senate Committee on Finance, Banking and Other Financial Institutions and National Planning at the weekend, the quartet of Yemi Cardoso, Governor of the Central Bank of Nigeria; Wale Edun, Minister of Finance and Coordinating Minister of the Economy; Bagudu Atiku, Minister of Budget and Economic Planning and Minister of Agriculture and Food Security, Abubakar Kyari, unveil their interim and long term plans to remedy the prevailing situation.
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Any government that has an idea of macro-economic policy management ought to have recognised that the suffocating policies of abrupt increase in the pump price of petroleum products, high cost of electricity and arbitrary floating of the Naira as executed by the government without due consultations, would have excruciating consequences to the economy as being witnessed today
According to him, the World Bank and IMF sponsored Structural Adjustment Policy, SAP, which ruined Nigeria’s economy 37 years ago, should not be allowed to return through the backdoor, arguing that government with major accruable resources should discard the idea that, “only the private sector can develop the economy and therefore all commercial public enterprises must be privatised,” because experience has showed that most of the privatised companies were mismanaged by their owners, whereas stories from countries like China, Russia, Malaysia, France, Indonesia and Bangladesh contradict this statement. He argued that “the sole reliance on the private sector as the Nigerian engine of economic growth is unconstitutional. In Article 16 (1)(a) to (d); (2)a, b, c, and d; (3)a and b; and (4) a, b and c; of the 1999 Nigerian constitution, as amended, the role of government in the economic life of the country is clearly defined. “The constitution prescribes the involvement of government in all aspects of ownership, production, distribution and control of “economic activities.” So why is the State, at federal, state and local government levels shying away from their fiscal responsibilities? Falana, SAN, contends that “If the government could grant duty waivers of N16 trillion to Dangote, Honeywell and Co in five years, why is it difficult to control the prices of goods imported into the country by the captains of industry?” "If President Tinubu can recall how he became President, he should ensure that suffering stops in Nigeria, that is all I will say," Chief Willie Ezeugwu, General Secretary of the Conference of Nigeria Political Parties, CNPP, told THEWILL in an interview. THEWILLNIGERIA
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NEWS
President of the Senate, Godswill Akpabio (4th left); Son of the late Senator, Ekarika Itak Ekarika (5th left) and other senators, during their condolence visit to the family of the late Senator Itak Bob Ekarika in Akwa Ibom State on February 9, 2023.
High Cost of Food Caused Kenyan Sang, Ethiopian Chala Skills Acquisition Programme: by Insecurity, Climate Win 2024 Lagos City Marathon Bayelsa to Partner Gregory Change, Others – CBN University, Others BY JUDE OBAFEMI
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BY FELIX IFIJEH
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he Central Bank of Nigeria (CBN) says insecurity, climate change, subsistent and seasonal farming practices, as well as importation bottlenecks, have impacted majorly on food supply, its availability and price of food items in Nigeria. CBN Governor, Olayemi Cardoso, made this known on Friday, in reaction to recent protests in Niger and Kano States over economic hardship in the country. Speaking at the joint Senate Committee on Finance, Banking and Other Financial Institutions and National Planning on Friday, Cardoso also noted that the pressure on the nation’s foreign exchange market is causing a continuous decline in the value of Naira. He, however, said the Apex bank is working with the Federal Government, as well as leadership of the National Assembly, to find a lasting solution to the issues “The upward trend of food inflation is primarily due to supply shocks caused by insecurity, climate-induced factors such as flood and rainfall shortage in some cases, inefficient, subsistent and seasonal farming practices as well as importation bottlenecks that have impacted the prices of imported food items. “Anecdotal evidence indicates that recent exchange rate volatility has fuelled more foreign demands for agricultural products, especially from neighbouring countries. While this presents an opportunity to expand and boost agricultural output, hence creating jobs in the sector, supply constraints exacerbated demand, instigating more inflationary pressures. “The Nigerian foreign exchange market is currently facing increased demand pressures, causing a continuous decline in the value of the naira. Factors contributing to this situation include speculative forex demand, inadequate forex supply, increased capital outflows, and excess liquidity," he said. Speaking on the inflation rate in the country, Cardoso said, “In December 2023, the economic landscape revealed significant shifts. The headline inflation stood at 28.92 per cent in December 2023 as against 28.20 per cent in November, food inflation was 33.93 per cent as against 32.84 per cent in November, and core inflation was 23.06 per cent as against 22.38 per cent in October 2023. THEWILLNIGERIA
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enyan long-distance runner, Bernard Sang, emerged victorious at the 2024 Access Bank Lagos City Marathon held this Saturday. The 42km race, now in its 9th edition, saw Sang beat around 80 other elite marathoners to claim the $50,000 top prize. With a finishing time of two hours 16 minutes and 49 seconds, Sang bested fellow compatriots Simon Cheprot and Edwin Kiptoo who finished second and third respectively. Cheprot and Kiptoo took home $40,000 and $30,000 for their podium places. This was Sang’s second Lagos Marathon, having finished third in 2023. The women’s race was won by 25-year-old Kebene Chala from Ethiopia, who also qualified to represent her country in the marathon at the 2024 Paris Olympics. As the women's winner, Chala also claimed $50,000 in prize money. Completing the race in a respectable time was Nigerian Shehu Muazu, who was the first local runner to cross the finish line located at Eko Atlantic City. Muazu won a cash prize of N1 million.
Court Grants Suspended UNICAL Dean, Lawyer Bail BY FELIX IFIJEH
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he Federal High Court, Abuja has granted bail to the suspended Dean of the Faculty of Law, University of Calabar (UNICAL), Prof. Cyril Ndifon, alongside his lawyer, Sunny Anyanwu. The Independent Corrupt Practices and Other Related Offenses Commission (ICPC) is prosecuting Professor Ndifon and his lawyer on a four-count amended charge bothering on allegations of sexual harassment and obstruction of justice. Ruling on their bail application on Friday, Justice James Omotosho admitted Professor Ndifon to bail in the sum of N250 million with two sureties; while Anyanwu was granted a N50m bail with two sureties. “Bail is granted to the first defendants in the sum of N250m with two sureties who own properties within FCT with a minimum valuation of N150m. The first defendant and his two sureties must submit their bank statements. The first defendant must submit his International passport to the court.
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BY AMOS OKIOMA
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ayelsa State Government has indicated its readiness to partner Gregory University, Uturu in Abia State on vocational training programme to create a critical mass of middle-class and higher manpower to drive the local economy. Governor Douye Diri gave the indication on Thursday while speaking as Special Guest of Honour at the Certification Ceremony of the Smart House A to Z Vocational Training Programme at the AfricanTide Academy, Kpansia in Yenagoa. Represented by his deputy, Senator Lawrence Ewhrudjakpo, the governor said his administration is making deliberate efforts at giving hands-on skills training to the youths because its belief in the indispensability of the human capital. He charged the graduands who trained in Quartia, Sting, Plumbing, among other vocations, not to rest on their oars but be passionate about acquiring more knowledge in their various fields to further improve themselves. While promising them starter-packs, Governor Diri cautioned them to resist the temptation of selling off their work tools, but rather use them judiciously to generate income for themselves and become employers of labour. The Bayelsa helmsman, who commended the German Partners, the ATTEC Academy and Gregory University for their contributions towards producing the first set of graduands of the programme, promised to take the partnership a notch higher. He said: "To Gregory University, you have the blessing of the Governor of our state. So you have to liaise with our partners, the Ministry of Labour and the Ministry of Education to see how we can encourage those of them who are willing to go further to move on. "And to all the graduates, who are receiving certification today, you should know that the skill you have acquired is your seed. If you eat your seed by not putting your skills into work, you will certainly go back to where you were before. "And if you manage to work for somebody, you remain a labourer. But when you work for yourself, you become a business owner or an entrepreneur. And so, I encourage you to use your seed well by planting it. Don't sell or eat your seed."
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POLITICS
Bye-Election: INEC Walking The Roadblocks BY AMOS ESELE
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s usual, Chairman of the Independent National Electoral Commission, INEC, Professor Mahmood Yakubu, gave the assurance that his Commission would conduct a hitch-free and fair bye-election across 28 states of the country on Saturday, February 3, 2022. Instead, on that day there was an encore of the violence, vote-buying and ballot snatching that characterised the 2023 General Election.
hall Mbiabong Ikot Udo 003 in Ikono Council area were affected, while in Taraba State, the affected area was the Jalingo/Yorro/Zing Federal Constituency. According to INEC, the suspension of the exercise in the Enugu constituency was occasioned by the absence of original results sheets for inspection by voters before the commencement of poll. In Kano, it was the invasion, vandalisation and disruption by thugs.
From complaints of the late arrival of INEC officials and voting materials to the various polling units, to allegations of snatching of ballot boxes, violence as well as missing result sheets, including voter apathy, the story was the same. Nothing seems to have changed.
Similarly in Akwa Ibom, thugs carted away voting materials. In Taraba, “over voting in certain polling units, impacting the margin of lead between the candidates with the highest number of votes,” was the culprit, said Olumekun.
At the end of the day, the Commission had to suspend the election in four states: Enugu, Taraba, Kano and Akwa Ibom.
For these reasons, “The decision of the Commission aligns with the provisions of Section 24 (3) of the Electoral Act, 2022,” said Olumekun, adding that, “The Commission has resolved to conduct a supplementary election in Taraba State and a new re-run election in Enugu State, both scheduled for Wednesday 14th February 2024.
According to the Commission’s National Commissioner and Chairman, Information and Voters Committee, Sam Olumekun, the affected areas in these states are eight polling units in Enugu South 1; 10 polling units in Kunchi/Tsanyawa State Constituency in Kano State; Ikono/Ini federal constituency in Akwa Ibom State where two polling units in Ini Local Government Area and village
“Due to security concerns, the election in Kunchi/ Tsanyawa State Constituency will be held at a later date, after further discussions with security agencies and stakeholders.”
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The decision of the Commission aligns with the provisions of Section 24 (3) of the Electoral Act, 2022,” said Olumekun, adding that, “The Commission has resolved to conduct a supplementary election in Taraba State and a new re-run election in Enugu State, both scheduled for Wednesday 14th February 2024
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FEBRUARY 11, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com
POLITICS
...INEC Walking The Roadblocks CONCERNS Before the bye-election kicked-off on Saturday, stakeholders had expressed concerns about INEC’s readiness to perform creditably well and the right public perception of its incapacity, following its arguably woeful performance in the 2023 general election.
Odaro Aisien, Deputy Director, Voter Education, the only challenge facing the Commission ahead of the poll was insecurity. Both of them uncannily were proved right. For Ipodo, the report from Enugu vindicated him. Trouble started when the Electoral Officer (EO), Francis Chigbo and his Supervising Presiding Officer vanished with original copies of the result sheets for the election, setting a stage for protest by contestants and their polling officers. For one, the election was between Emeka Ngene of the Labour Party (LP) and his Peoples Democratic Party (PDP) counterpart, Sam Ngene. Given that the state is under the PDP, LP supporters were on their guard and ready to protest any infraction. So, when the aforementioned official disappeared voting could not start and LP supporters resorted to protest. In like manner, PDP members also staged their protest in support of the election to go on.
have no trust in it. If you have a body that runs election and about 90 per cent of the results end up being contested in the law courts, you need to change the manager.”
This situation attracted the heads of all the security agencies in the state, including Customs, Immigration, Police, Civil Defence, DSS and soldiers with an armoured carrier to the venue. Time ticked by. Tension arose. Suddenly, the Resident Electoral Officer, REC, Chukwuemeka Chukwu, arrived at the scene in the afternoon with what many saw as ‘photocopies” of other results sheets and instructed electoral officers to go ahead with the election. This directive infuriated the protesters the more. And LP supporters refused to allow the process to continue, alleging compromise on the part of the REC.
Changing the managing of the system is what the National Assembly embarked upon as the Constitutional Amendment process got underway at the chamber of the House of Representatives last week. Last Wednesday, a bill seeking to amend the Electoral Act 2022 passed through second reading at the House. Titled “A Bill for an Act to amend the Electoral Act, 2022 and for Related Matters", the bill was sponsored by a member of the House representing Ughelli North/Ughelli South/Udu Federal Constituency, Delta State, Francis Waive.
Chukwu did not help matters when he stated that he would “stamp and counter-sign the result sheets” to enable the process to continue.
Presenting the bill at plenary on Wednesday, Waive lamented the gaps in the Electoral Act 2022, noting that an amendment of the law to pave the way for “the electronic transmission of results would help the nation’s democracy.”
He said, “The political parties demanded that in line with the Electoral Act, the result be shown to them. So, when I got the information, I quickly rushed to this place to calm the situation down to issue a replacement.
“A review of the voter register every 10 years will be a good starting point,” he added.
“So, I am here to tell the whole world that whatever anybody is saying in line with the law, if any result sheet is altered before the election, the INEC has every power to issue a replacement result sheet. I am going to stamp it and counter-sign it so that voting will commence shortly in this place.” Agents rose with one voice and the REC and accused the commission of compromising the process and wondering what had happened to the original results sheets. In Kano, Taraba and Akwa Ibom where thugs were very active in hijacking the process, enough security personnel in their thousands were deployed by the police, army, National Security and Civil Defence corps under the Election and Security Management Committee, chaired by Professor Yakubu, assisted by the Inspector-General of Police Kayode Egbetokun as co-chairman. He also placed a ban on movements from 12 pm to 6 pm in the affected constituencies, which were, in most cases small parts of the 28 states where the bye-elections held. Some pundits say the INEC is saddled with too many responsibilities that hamper its effectiveness and suggest its unbundling. They say, for example, that the government should set up a special court to try cases of election THEWILLNIGERIA
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On INEC, Kila said, “If we need to move the country forward, we need to understand that INEC is a failed institution because it is dealing with millions of people who have no trust in it. If you have a body that runs election and about 90 per cent of the results end up being contested in the law courts, you need to change the manager
Executive Director of Yiaga Africa, a non-profit organisation promoting participatory democracy, human rights and civic participation, Mr Sam Ipodo, had expressed doubt about the transparency of Collation Officers on INEC and Local Government officials, warning that they always compromise the process.
Meanwhile the INEC has presented Certificates of Return to candidates who won in the bye-elections.
malpractice as this will go a long way to improve citizens’ respect for the electoral process. Others advocate inclusive governance to checkmate public and voter apathy.
Taken together, seven political parties won seats in both the National and State Houses of Assembly. They are the Action Democratic Party, All Progressives Congress, All Progressive Grand Alliance, Labour Party, New Nigeria Peoples Party, Peoples Democratic Party and the Young Progressives Party.
Speaking in an interview with THEWILL recently, Professor Anthony Kila said INEC and politicians should be blamed for the lack of due process and accountability, with regard to the conduct of free and fair elections in Nigeria.
The Senator-elects are Prof Anthony Okorie, Ebonyi South Senatorial District, Ebonyi (APC); Pam Dachungyang, Plateau North Senatorial, Plateau (ADP); and Musa Mustapha, Yobe East Senatorial District, APC, Yobe State.
According to Kila, Director of the Centre for Advanced Professional Studies, most of the people trying to rule Nigeria are crooks and criminals. If they were good, he argued, they would not use violence to intimidate voters and buy votes.
Members-elect of the House of Representatives Ifeanyi Ozokwe, Nnewi North/Nnewi South/Ekwusigo Federal Constituency (YPP-Anambra); Clara Nnabuife of Orumba North/Orumba South Federal Constituency, (YPPAnambra).
On INEC, Kila said, “If we need to move the country forward, we need to understand that INEC is a failed institution because it is dealing with millions of people who
Others were Ehindero Babatunde, Akoko North East/Akoko North-West Federal Constituency (Ondo- APC), and Daniel Ago, Jos North/ Basa Federal Constituency (Plateau- LP).
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POLITICS
EDO 2023: Uneasy Calm in PDP BY AMOS ESELE
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he Wednesday D-day slated by the National Working Committee, NWC, of the Peoples Democratic Party (PDP) to sort out the crisis that followed the Friday, February 2, 2024 Ward Congress in Edo State came and passed without a concrete solution. Aggrieved aspirants led by Deputy Governor Philip Shuaibu went home more agitated. And the publicity secretary of one of the factions of the party in the state, Ogie Vasco, had to issue a statement in Benin-City describing the ward congress as "Governor Obaseki's Congress, Not PDP Congress."
Obaseki's aides as members of the committee. Nevertheless, Governor Mbah, party chairman, Dr Tony Aziegbemi, described the election as fair and credible, while nine other aspirants disagreed and petitioned the NCW to seek redress. Governor Mbah, who was also in company with the Secretary of the Committee, Governor Kefas Agbu of Taraba State, told journalist after the exercise: “We met with the Chairman of our party in the state, Dr Tony Aziegbemi, who gave us a robust briefing of the plans on ground. And myself as Chairman of the Electoral Committee and other members went to a number of wards where we found that the turnout was huge and the process was free, fair and credible.”
He claimed that the NWC compromised the process by handing over the materials for the conduct of the congress with the governor, who in turn mobilised thugs to keep other nine contestants out of the venue to ensure that his preferred candidate emerged. The National Publicity Secretary of the PDP, Debo Ologunagba, however, thinks otherwise. He told THEWILL that the process to look into the matter had started. According to him, the party constituted an appeal panel which will look into the matter and send its report to the National Working Committee, NWC.
Aziegbemi urged aggrieved aspirants to take their protest over the conduct of the state delegate election to the appeal panel that will sit on February 7 in Abuja. The aforementioned nine aspirants who felt cheated had petitioned the Acting National Chairman of the party, Umar Damagum, and copied the National Vice Chairman SouthSouth of the party, Chief Dan Orbih, protesting the process and composition of the committee that conducted the delegates election.
"That is the process. After the appeal panel has submitted its report, the NWC will then communicate its report to all parties," he said. The NWC had set up a Senator Sierake Dickson-led Mediating Committee to resolve the crisis for the conduct of the congress, which the Governor Peter Mbah-led committee cleared as free and fair.
Aziegbemi urged the aggrieved aspirants to be mindful of their utterances which are capable of bringing the PDP to disrepute
However, given the interests at stake, it was almost as predictable as the weather in the rainy season that the governing party in Edo State was heading to a crisis-prone delegates election in preparation for its primaries on February 27, 2023. On the one hand is Governor Godwin Obaseki's fight with his deputy, Philip Shuaibu; his preferred successor is former Chairman of the Board of Nigeria Breweries, Asue Ighodalo, but Shuaibu against the run of play is sustaining the tempo through court suits and campaign in the media to succeed his principal. On the other hand is the unwritten but highly sensitive public sentiment on the zoning of the governorship ticket since 1999 and some say since 1991 when that state was created: By this calculation, Edo South, where Governor Obaseki comes from, has had its hands full with 16 years of administration from Governor Lucky Igbinedion to Obaseki. If you add the two years of the defunct third republic administration of Chief Odigie Oyegun, the numbers cry for justice. Closely following this zone is Edo North, which has taken the governorship slot for eight years with the Adams Oshiomhole Administration. Edo South only had a stint during the three-month tenure of Prof Oseriemhem Osunbor, whose administration was aborted by the Election Petition Tribunal. This personal conflict between Governor Obaseki and his Shaibu and the strong public perception on zoning is the undercurrent challenging the party, ahead of the September 2024 poll. With the imminence of the ward congress therefore, the various interests began to stake their claims. Shaibu, who hails from Edo North, claims that since there was no agreement on zoning, he would run. From the same zone come aspirants like Ambassador Martin Uhomoibji and Haifa Hadizat Umoru. Others like Omosede Igbinedion, Dr Earl Osaro Onaiwu and Omoregie Ogbeide-Ihama hail from Edo South. Joining the battle with Ighodalo from Edo Central are Felix Akhabue, Anselm Ojezua and Barrister Arthur Esene. Early warning signs of trouble came when the Chairman
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He said the party aimed to ensure that it remains in office by winning the governorship election on September 21, stating that the party had carried everyone along and left the door of reconciliation open. He said, “In line with the timetable released by the Independent National Electoral Commission and the PDP, the National Working Committee organised the election of the adhoc delegates in Edo State.
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“I have never seen a well organised and transparent election in the history of the party since I joined in 1999. I challenge anyone with a contrary opinion to bring out any evidence. We printed the register and ensured the election took place in 192 wards. Those who came to vote had to show their membership and voter cards to take part in the process.
On the one hand is Governor Godwin Obaseki's fight with his deputy, Philip Shuaibu; his preferred successor is former Chairman of the Board of Nigeria Breweries, Asue Ighodalo, but Shuaibu against the run of play is sustaining the tempo through court suits and campaign in the media to succeed his principal
“We made sure all the electoral officers moved to their centres on time and all the names of the aspirants were read out to ensure fairness and they could have been voted for if they were not on the ground. “I urge the nine aggrieved aspirants to take their grievances to the appeal panel headed by Dickson Seriaki on February 7 in Abuja to lodge their complaints and desist from utterance that can tarnish the image of the party.” Aziegbemi said that 563 delegates were elected, but added that the election to choose 31 delegates could not take place at Etsako Central due to the alleged abduction of nine electoral officers, who he said, were yet to be found.
of the Ad-Hoc Ward Congresses Electoral Committee, Governor Seyi Makinde of Oyo State resigned his position before the election. This paved the way for his deputy, Enugu State governor, Peter Mbah, to step in as the committee chairman, a development faulted by the aggrieved aspirants. Makinde said he had to resign because the notice was too short, even as he faulted the inclusion of some of Governor
“We will be at the appeal panel on February 7 and lodge a complaint and the decision reached will determine our next line of action,” he added. That February 7 date came and the aggrieved members attended the meeting in Wadata Plaza, Abuja. The appeal committee is yet to submit its report to the NCW, which will convey its decision to all interested parties. The days are ticking by for the February 17 primaries to choose a flag bearer. This no deal situation has created an uneasy calm in the party in the state.
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PERSPECTIVE
FEBRUARY 11, 2024 WWW.THEWILLNEWS.COM
Importance of Citizen-Led Leadership Accountability: The Missing Link in Nigeria's Democratic System BABA ISIMI
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monarchy within Nigeria's sociopolitical landscape and calls for the establishment of legal frameworks that involve citizen involvement to safeguard these institutions' historical and cultural significance.
Firstly, the presence of an informed electorate and electoral integrity through the vote is essential.
These traditional structures, which have served as symbols of unity and custodians of heritage for centuries, are integral to the fabric of Nigerian society and possess the potential to significantly contribute to national integration, security, and conflict resolution.
n a comprehensive analysis of democratic leadership effectiveness, it becomes evident that two major components play a pivotal role in ensuring the success of a democratic system.
Secondly, the institution of a structured, efficient, and effective leadership accountability audit by citizens is crucial for maintaining a healthy democratic environment. Regrettably, Nigeria currently lacks the latter, leading to a significant democratic dysfunctionality within the nation.
Isimi
The cornerstone of any democratic system is the presence of an informed electorate and the assurance of electoral integrity through fair and transparent voting processes. An informed electorate is one that is knowledgeable about the issues, policies, and candidates, enabling them to make educated decisions at the polls. Additionally, electoral integrity ensures that the electoral process is free from fraud, manipulation, or any form of malpractice, thereby upholding the true will of the people. Beyond the electoral process, the institution of a structured, efficient, and effective leadership accountability audit by citizens is equally vital. This mechanism empowers the populace to hold their leaders accountable for their actions, decisions, and overall governance. A transparent and robust accountability audit serves as a checks-and-balances system, fostering trust between the government and the governed while promoting responsible leadership. Despite the significance of citizen-led leadership accountability audit, Nigeria currently lacks this fundamental component in its democratic system. The absence of a structured mechanism for citizens to effectively audit the leadership has led to a notable dysfunctionality within the country's democratic governance. Without a clear process for citizen-led accountability, there is a risk of unchecked power, corruption, and a disconnect between the government and the people.
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These traditional structures, which have served as symbols of unity and custodians of heritage for centuries, are integral to the fabric of Nigerian society and possess the potential to significantly contribute to national integration, security, and conflict resolution
To address the prevalent democratic dysfunctionality in Nigeria, it is imperative to institute a robust and structured leadership accountability audit by citizens. By empowering the populace to actively participate in holding their leaders accountable, the nation can foster transparency, integrity, and responsible governance. Furthermore, the implementation of such a system can help bridge the existing gap between the government and the citizens, ultimately strengthening the democratic framework of the country.
integrity, the absence of the latter component has contributed to the country's democratic dysfunctionality. By recognising the vital role of citizen-led accountability, Nigeria can take significant steps towards fostering a more robust and resilient democratic system. Re-evaluating Nigeria’s Monarchies: The Imperative for Reform and Inclusion in National Governance
In conclusion, the effectiveness of democratic leadership hinges on an informed electorate and the presence of a structured, efficient, and effective leadership accountability audit by citizens. While Nigeria has made strides in ensuring electoral
Recent events in Nigeria have illuminated the precarious state of traditional monarchies, with a spate of depositions by state governors that have highlighted their vulnerability to the whims of political power. This situation demands a comprehensive reassessment of the role of
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The unilateral deposition of monarchs, often driven by personal and political motives, has not only destabilized the affected communities but also called into question the legitimacy and continuity of cultural leadership. Such actions disregard the deep-seated connections between monarchs and their subjects, particularly in remote and ungoverned areas where traditional rulers provide essential governance and security functions. Nigerian monarchies, therefore, must be protected from executive caprice and realigned with the nation’s governance and developmental goals. The challenge lies in reconciling the historical reverence for monarchs with the realities of modern governance and the need for a more democratic and inclusive approach to traditional leadership. The current constitutional framework does not adequately protect traditional monarchies from political interference nor does it integrate them into the national governance structure. To address this, there must be a holistic approach that involves broad-based citizen consultation and the establishment of clear, transparent, and culturally respectful guidelines for the selection, legislation, and abdication of traditional rulers. Proposed reforms should include amending the constitution to provide explicit recognition and protection for traditional institutions, establishing legal guidelines that honor historical, traditional, and cultural practices in selecting monarchs, and defining the constitutional roles and responsibilities of traditional rulers. Additionally, strengthening the administrative and financial autonomy of traditional institutions would enhance their capacity to serve their communities effectively, and promoting the inclusion of traditional rulers in formal governance structures would ensure their contributions to policymaking and national discourse are recognised and valued. In conclusion, the recent challenges faced by Nigeria's monarchies necessitate a reexamination of their place within the nation's socio-political fabric. By embedding traditional institutions within a legal framework that promotes inclusivity, transparency, and cultural respect, Nigeria can protect these vital pillars of its heritage and ensure they continue to play a constructive role in the nation’s governance and pursuit of national cohesion and peace. •Baba Isimi FNIA is an architect, businessman and politician.
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EDITORIAL
FEBRUARY 11, 2024 WWW.THEWILLNEWS.COM
Nigerians Are Not Smiling Again!
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There is therefore no doubt that a major crisis is looming large as Nigerians have practically been pushed to the walls with empty and failed promises as the poor continues to get poorer while the rich are getting richer in a country that boasts the largest number of hungry and poor people in the world. Protests witnessed in some cities and states in the country last week might just be a sign of what to expect in the very near future
he old and common parlance, suffering and smiling, is no longer applicable to Nigerians. In as much as they try to cope with the burden of daily life, the unending hardships are not helping matters in any way. With a worsening economy that has been battered over the years, mass looting of the common wealth and mis-governance by successive administrations coupled with the general insecurity, life has simply become brutish and nasty for most Nigerians. Over 10 months into the new administration, which promised to renew their hope, the people’s pain and agony is now being renewed in the most disappointing and nauseating manner, with no assurance of an end to their suffering. Promises made in the past and continuously being hyped at every given opportunity have all turned into lousy propaganda with no meaning to the ordinary Nigerian. Today, the pain and agony is no longer for the poor and vulnerable alone. Now the rich also cry and bitterly, too. No particular segment of the Nigerian society is immune from the suffering and hardships currently being experienced in the land except those with itchy fingers who have suddenly found themselves in the corridors of powers and decided to join the mass ''looting spree'' of their predecessors who they tried to demonise, forgetting that they are even worse. Most of the officials in successive administrations have turned out to be rogues in power and the current
NIGERIA BUREAU: 36AA Remi Fani-Kayode Street, GRA, Ikeja. Lagos, Nigeria. info@thewillnigeria.com / @THEWILLNG, +234 810 345 2286, +234 913 333 3888 EDITOR: Olaolu Olusina @OLUSINA LETTERS/OPINIONS: opinion.letters@thewillnews.com
ones are not faring better, either, from what we have seen so far. What we are experiencing currently now, unfortunately, are the cumulative effects of years of bad leadership and mis-governance stained by uncommon corruption and massive looting of the national treasury by rogue leaders who should, by now, be gnashing their teeth in jail. With over 33 percent increase in food inflation, according to the Consumer Price Index (CPI) report from the National Bureau of Statistics, it is no surprise that Nigeria has moved from the inglorious position of the poverty capital of the world to a country where over 90 percent of the world's hungry people live, according to a recent report. The recently-released Food Security Report of the World Bank even paints a more serious picture, saying the situation in Nigeria is compounded by worsening insecurity and armed conflicts across many states in northeastern and northwestern Nigeria. The bank specifically noted that significant portions of West and Central Africa are expected to remain minimally food insecure until May 2024. It also projected that the far north regions of Adamawa, Borno, Kaduna, Katsina, Sokoto, Yobe and Zamfara States, will experience crisis-level food insecurity, due to the ongoing insecurity and dwindling livelihood of the residents of these states, It is therefore still not clear, yet, how the presidential order for the immediate release of more than 102,000 metric tons of various grain types from the National Food Reserve and the Rice
Millers Association of Nigeria will have any impact in a country of over 200 million people. The pervading general insecurity has contributed to the increasing food crisis as bandits, terrorists and kidnappers have driven away the farmers from their farmlands, killing, maiming and turning our various food baskets into killing fields. Kidnapping now appears to be the most lucrative crime in Nigeria today as dare-devil armed robbers are cashing out big time in the widespread kidnapping rings and cells scattered around the country. Unfortunately, government's response to the food crisis, especially the skyrocketing prices of food items across the country, is nothing to write home about. The so-called palliatives promised months ago to cushion the effects of the hardship Nigerians are facing have since entered ''voice mails'' and they are nowhere to be found. There is therefore no doubt that a major crisis is looming large as Nigerians have practically been pushed to the walls with empty and failed promises as the poor continues to get poorer while the rich are getting richer in a country that boasts the largest number of hungry and poor people in the world. Protests witnessed in some cities and states in the country last week might just be a sign of what to expect in the very near future. The Federal Government and all the authorities concerned should therefore do all within their power to assuage the increasing suffering and hardship that Nigerians are painfully going through at the moment. A stitch in time, they say, saves nine.
THEWILL NEWSPAPER TEAM Publisher/Editor-in-Chief
Business Editor – Sam Diala
Photo Editor – Peace Udugba
Austyn Ogannah
Copy Editor – Chux Ohai
Head, Graphics – Tosin Yusuph
Editor – Olaolu Olusina
Cartoon Editor – Victor Asowata
Deputy Editor – Amos Esele
Entertainment/Society Editor – Ivory Ukonu
Circulation Manager – Victor Nwokoh
Politics Editor – Ayo Esan
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OPINION
FEBRUARY 11, 2024 WWW.THEWILLNEWS.COM
Nigeria’s Population is a Market BY TIFE OWOLABI
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ajor economies and corporations utilise population data extensively to project income by analysing demographic trends, consumer behaviour and market potential. This data helps them to identify target demographics, assess purchasing power and tailor products and services accordingly. Factors such as age distribution, income levels, urbanisation rates and cultural preferences are crucial in shaping market strategies and investment decisions. Nigeria’s large and diverse population presents significant opportunities for economic turnaround through leveraging population data. With over 200 million people representing various ethnicities, languages and cultural backgrounds, Nigeria possesses a vast consumer NIGERIA'S YOUTHFUL market with diverse needs and preferences. By harnessing POPULATION, IN PARTICULAR, population data, policymakers PRESENTS A DEMOGRAPHIC and businesses can identify untapped market segments, DIVIDEND THAT, IF PROPERLY develop tailored products and services, and implement HARNESSED THROUGH targeted marketing campaigns.
EDUCATION, SKILL DEVELOPMENT AND JOB CREATION, CAN DRIVE INNOVATION, ENTREPRENEURSHIP AND PRODUCTIVITY GAINS ACROSS VARIOUS INDUSTRIES
Understanding demographic trends can inform strategic investments in key sectors, such as infrastructure, healthcare, education and technology, which are essential for sustainable economic growth and development. Nigeria's
youthful population, in particular, presents a demographic dividend that, if properly harnessed through education, skill development and job creation, can drive innovation, entrepreneurship and productivity gains across various industries. So, embracing the country's cultural diversity can foster creativity, innovation, and cross-cultural exchanges, leading to the development of unique products and services that appeal to both domestic and international markets. Overall, by harnessing population data and embracing its diversity, Nigeria can unlock its economic potential and achieve long-term prosperity. For sustained economic growth, Nigeria needs new technologies and new ways of doing things. More often than not, they will come from newcomers. But for us as a country, the replacement of a new regime seems to be the continuation of extractive institutions that only profit but few, hence, the tales of woe and economic decline bites harder on the citizens. Our population and diversity which ought to be a cog have turned into clout in the wheel. Nigeria can leverage its youthful population to combat insecurity and drive economic growth by harnessing the power of technology, following the examples set by Japan, South Korea, and China. Purposeful leadership can instill a sense of innovation, entrepreneurship and national pride among Nigerian youth, encouraging them to contribute positively to society. Investing in education, particularly STEM (Science, Technology, Engineering and Mathematics) fields, can equip young Nigerians with the skills needed to participate in the digital economy. By fostering a conducive environment for technology startups and providing access to funding and mentorship, Nigeria can nurture a thriving tech ecosystem similar to those in Japan, South Korea and China. Embracing technology-driven solutions can enhance security through innovations in surveillance, cybersecurity, and communication systems while simultaneously driving economic growth by creating jobs, boosting productivity and attracting investment. By empowering its youth and embracing technological advancements, Nigeria can pave the way for a brighter and more secure future.
Valentine Love Song BY UZOR MAXIM UZOATU
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ome diabolical male chauvinists out there are making bad noises that because this year's Valentine’s Day falls on Ash Wednesday women should not be romanced.
These evil men go further in their crazy desecration of womanhood by pointing out that some crunchy football matches are slated for that day and should take precedence over the celebration of the ladies.
The answers are embedded in religion, myth and history. The sexist domination of women is propped up by the male supremacist myth of the fairer sex being naturally weaker and inferior to men. In Ancient Greece, the first woman, Pandora, was the source of evil.
It is incumbent on me to give a wicked sliding tackle to these vile lady-beaters by wowing the deity called woman ahead of time, that is, before even the valentine date.
Among the Hindus, a virtuous woman was rewarded by being born again as a man.
I do not even know why just one day should be set aside to do the sweet dalliance with the romantic juices of nature.
In Islamic orthodoxy, a woman is either a perennial prisoner in purdah or a faceless masquerade in the street.
All the days of the calendar ought to belong to the edification of women – I have spoken!
The barrage of sexist insults has over the years somewhat conditioned women into a helpless acceptance of hokum.
To be a woman is to be a god – not a goddess, mind you, for gendering the creative force in life amounts to a diminution of her immense powers. A woman ought to be celebrated as a god, period.
Western law, as enunciated in the early Roman statutes, saw women as man's possession.
Even so, committed people have been struggling to redress this inequity in the march of civilization.
The Bible says that the woman came after man, from Adam's rib, to wit, a side issue, but when we talk of the responsibility carried by women we have to place them ahead of man and very near to God Almighty. What with literally creating life, conceiving and nurturing human beings, and thus making sure that the wheel of life and civilization never grinds to a halt. Just imagine what will happen when all the women of this earth decide to cross their legs, saying no creation. Of course bad things will ensue: death, extinction, and the unstoppable madness of all men all over the world. Any wonder then why African traditional lore salutes women with such maxims as mother is gold and mother is supreme. Also, all wise men celebrate women and womanhood. Great poets have waxed eloquent on this phenomenon: from Senghor to Shakespeare. My late great friend, the South African poet Dennis Brutus, during a visit to Nigeria, was walking with me in the University of Calabar campus and we were suddenly accosted by a melee of beautiful girls such that the lionized poet instantly penned the following words in his arresting calligraphy: African woman With your stately walk
FROM THE RENAISSANCE ERA, GROWING HUMAN ENLIGHTENMENT HAS HELPED TO SHATTER THE BLINKERS OF SEXIST DOMINATION OF WOMEN. THE INDUSTRIAL REVOLUTION HELPED THE CAUSE BY TAKING WOMEN AWAY FROM THE KITCHEN AND THE BEDROOM INTO THE MILLS OF THE MANY FACTORIES WHERE THEY COMPETED WITH MEN
From the Renaissance era, growing human enlightenment has helped to shatter the blinkers of sexist domination of women. The Industrial Revolution helped the cause by taking women away from the kitchen and the bedroom into the mills of the many factories where they competed with men. The Soviet Revolution and the general growth of Marxism back then went a long way in destroying the myth of male supremacy. The Equal Rights Amendment (ERA) movement in the United States helped to put women on the same platform with men by addressing such issues as equal pay for equal work. The discovery of the contraceptive pill in the 1960s essentially liberated women by allowing them greater control over their bodies and lives. Feminism as an ideology has come to stay.
Your flowing garments And your graceful form
Our darling sister, Chimamanda Ngozi Adichie, is truly on song as she intones:
You make my heart sing. The irony of all this is that after all their acclaimed importance, women are still under the thumb of men. Why?
We should all be feminists. Pitifully though, to understand ideology is one matter, but to triumph over the forces of biology is a different matter entirely. *Continues online at www. thewillnews.com
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FEBRUARY 11, 2024 • VOL . 4 NO.6 WWW.THEWILLNEWS.COM
Electricity: Estimated-Billing Customers Increase as DisCos Exploit Nigerians
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N511.7 million
FCMB Launches Accelerator Programme to Empower Over 1m SMEs / PAGE 34
20 per cent FG Sets up Committee to Resolve Gas Shortage EDITOR Sam Diala
/ PAGE 35
FBN Holdings Set For Robust Credit Expansion Amid Challenging Environment FBNH 5-YEAR FUNDAMENTALS 21018-2023 (N'bn)
1TRN
PBT
500BN
100BN 374bn
PAT
50BN
D
2021
136.17bn
D
805.12bn
157.90bn
151.07bn
2020
417bn
C C
757.29bn
166.66bn
2019
245bn
B
80.73bn
2018
B
590.66bn
A
83.70bn
A
161bn
BY SAM DIALA
58.23bn
37.70bn
115bn
0
63.85bn
10BN
587.40bn
54.52bn
Continues on page 33
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598.18bn
igeria’s electricity distribution companies (DisCos) are raking in enormous revenue from poor services while their estimated-billing customers continue to rise and groan. The recent Nigeria Electricity Report by the National Bureau of Statistics (NBS) for Q3 2023 revealed that the number of estimated-billing customers of the 11 DisCos increased to 6.03 million from 5.9 million year-on-year. The report stated that “estimated customers during the quarter were 6.03 million, higher by 0.53 per cent from 6.00 million in Q2 2023. On a year-on-year basis, estimated customers increased by 2.02 per cent in Q3 2023 from 5.91 million in Q3 2022”. Estimated billing is a system of arbitrary charging against unmetered electricity consumers for electricity (energy) they did not actually consume. The billing is based on perceived pattern of consumption, or on the ‘best of judgement’, with unjustified high revenue targets as the motive Consumers in this system are mandated to pay far above what they consumed on a monthly basis and the charges are usually outrageous. “It is a system that thrives on corruption and is driven by tardy inclination to exploitation which defines a commodity in the category of monopoly,” said Gabriel Madu, an electrical installations contractor, Since the Federal Government introduced the metering system in 2018, it has maintained that electricity consumers face no hurdles in procuring meters Also, the Nigeria Electricity Regulatory Council (NERC) has reiterated an end to estimated billing with promises of adequate metering; in reality, the contrary has been the case. The meters are hardly seen in the quantity being declared by the authorities. This leaves the consumers at the mercy of the DisCos who feast on them even when electricity supply has not improved over the years and customer numbers continue to rise. According to NBS, the total electricity customer numbers in Q3 2023 rose to
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GROSS EARNINGS
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EPS (BASIC) 2022
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avigating through an unprecedented challenging Source; Coy Reports environment, FBN Holdings Plc, the parent company of the country’s oldest bank, FirstBank of Nigeria, is expanding its loan book to support the economy, data from its unaudited 2023 financial statements have shown. The financial services behemoth which posted splendid results for its FY 2023 operations, grew its loan book by N2.57 trillion from N3.78 trillion in 2022 to N6.36 trillion in 2023, representing a 68 percent increase. To guarantee effective implementation, the group posted a huge impairment charge of N200.44 billion in 2023 against N68.61 billion in 2022 - a difference of N131.83 billion or 192 percent increase. This provides full cover against the facilities which rose by only 68 percent during the year. “What FBN Holdings has done is a practical demonstration of its commitment to expand credit facilities to grow the economy. You can see its impressive performance in the prudential Loan-Deposit Ratio guideline of the Central Bank of Nigeria,” said Kunle Abimbola, an investment banker. Abimbola, in a chat with THEWILL, stressed that the expanding loans and advances by FBN Holding, with a huge impairment provision against loss, puts the group in a good position. This will enable it to dish out high credit facilities to the real sector without fears of getting trapped in the miry clay of non-performing loans. FBN Holdings Plc posted splendid results for its FY 2023 operations which reflect a growth trajectory that will excite the stakeholders. This is coming after a period of heavy-footed performance on huge nonperforming loans some years back. The group’s FY 2023 performance is reflective of its resilience and
underpins the strategy to generate sustainable value for its stakeholders amid a huge foreign exchange loss of N350.31 billion compared to N22.39 billion in the previous year, representing a 1,464.5 percent rise. Against the industry trend which saw many banks raking in massive gains from foreign exchange revaluation, FBN Holdings posted a huge loss (N350.31 billion). However the group’s windfall came from the significant earnings recorded in net gains on financial instruments which rose from N38.64 billion in 2022 to N681.23 billion in 2023, reflecting an increase of 1,663 percent. FBN Holdings, in 2023, operated in a challenging operating environment that was pressured by high inflation and currency devaluation, the effect of which increased operating expenses by 41 percent to N325.74 billion from N218.48 billion. Despite the inflationary push factors, profit after tax rose significantly to N309.88 billion from N136.17 billion in 2022, or 127.56 percent rise. This was in tandem with the growth trajectory recorded in the remarkable net interest income of N329.29 billion after impairment charges, compared with N294.63 billion in the previous year, or 11.7 percent increase. This will enable it to navigate the recent policy by the Central Bank of Nigeria (CBN) on modified mechanism for the implementation of the cash reserve requirement (CRR) for all banks in the country which entails stepping up their loan facilities to the economy. CRR is one of the monetary policy tools the apex bank adopts to help limit money circulation or supply in the economy to tackle banks’ liquidity flow challenges. THEWILLNIGERIA
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BUSINESS WEEKLY ...Robust Credit Expansion Amid Challenging Environment
...Estimated-Billing Customers Increase as DisCos Exploit Nigerians
The CBN said the introduction of the new policy framework was to boost the capacity of the banks to plan, monitor and align their records with the apex bank to ensure a smooth handling of the persisting liquidity problem in the financial system. With the persistent liquidity problems being experienced in the economy, the CRR, which stipulates the rate of cash reserve the banks are expected to hold with CBN for lending purposes, was 30 percent until July 2023 when it was adjusted to 32.5 percent to help mop up excess liquidity in the system. The group’s assets which rose by 60 percent to N16.89 trillion from N10.57 trillion in 2022 was a component of the strong balance sheet that showed a remarkable rise in customers’ deposits to N10.87 trillion from N7.12 trillion in the previous year. Electronic banking fees surged to N40.64 billion from N16.02 billion in 2022, reflecting a 163 percent increase as a result of huge investment in technology which helped in earning the group’s flagship subsidiary, FirstBank, the Best Corporate Bank at the recent prestigious Euromoney Awards for Excellence, Nigeria 2023. A statement issued by Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications, said the Bank clinched the coveted award based on its 130-year commitment to enabling its corporate customers achieve success through relevant and tailored financial solutions. “FirstBank’s continuous investment in technology has been crucial to its leading industry role in optimally meeting the needs of its corporate customers. Recent investments in technology include the development of its smart and interactive Transaction Banking Platform known as FirstDirect2.0. “FirstDirect2.0 provides a one-stop shop online banking platform for corporates, offering bestin-class capabilities such as Payments, Collections, and Account Services, and a locally focused phased implementation of Trade and Supply Chain Finance – a first for the Bank. “The platform offers customers various solutions for corporate cash management (Payments, Collections and Liquidity Management). It will also deliver end-to-end trade solutions for corporate clients covering L/C creation, tracking, bidding and reconciliations. “The Bank’s Corporate Banking model is focused on ensuring that its clients get the same quality of service across the Bank’s geographical locations. The execution of this approach through the deployment of the Global Account Management (GAM) Framework, implemented to enhance cross-relationship management tailored to Customers with a Pan African footprint,” the statement added. Amongst other awards, FirstBank recently added to its awards kitty Best Corporate Bank Western Africa, 2023, by Global Banking and Finance; Best Internet Banking in Nigeria, 2023 by International Business Awards; the Most Innovative Banking Brand in Nigeria by Global Brands Awards as well as the Financial Institution of the Year 2023 by Afreximbank Pan-African Business and Development.
11.71 million from 11.47 million in Q2 2023, showing an increase of 2.08 per cent. On a year-on-year basis, customer numbers in Q3 2023 rose by 7.09 per cent from 10.94 million reported in Q3 2022. Similarly, metered customers stood at 5.68 million in Q3 2023, indicating a growth of 3.77 per cent from 5.47 million recorded in the preceding quarter. On a year-on-year basis, this grew by 13.07 per cent from the figure reported in Q3 2022 which was 5.02 million. Electricity supply was 5,731.60 (Gwh) in Q3 2023 from 5,909.83 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 14.09% compared to 5,023.96 (Gwh) reported in Q3 2022 The report further revealed that the Ibadan Electricity Distribution Company (IBEDC) has 1,329,375 estimated-billing customers – the highest among the 11 DisCos, while Ikeja (IEDC) has the least – 227,062. Ibadan also belongs to the league of top four revenue generating DisCos: Ikeja (IEDC) with N56.80 billion, Eko (EKDC) N42.45 billion, and Abuja (AEDC), which raked in N39.94 billion. The Ibadan zone (which covers Oyo, Ogun, Osun, Kwara, Ekiti, Kogi and parts of Niger states), pooled N27.41 billion to rank fourth/ during the period. Without significant improvement in power supply, revenue collected by the DisCos increased during the review period. “Revenue collected by the DISCOs during the period was N260.16 billion from N263.08 billion in Q2 2023. On a year-on-year basis, revenue generated in the reference period rose by 28.40 per cent from N202.62 billion recorded in Q3 2022,” the report stated. Total customer numbers in Q3 2023 stood at 11.71 million from 11.47 million in Q2 2023, showing an increase of 2.08 per cent. On a year-on-year basis, customer numbers in Q3 2023 rose by 7.09 per cent from 10.94 million reported in Q3 2022. Similarly, metered customers stood at 5.68 million in Q3 2023, indicating a growth of 3.77 per cent from 5.47 million recorded in the preceding quarter. On a year-on-year basis, this grew by 13.07 per cent from the figure reported in Q3 2022 which was 5.02 million. Electricity supply was 5,731.60 (Gwh) in Q3 2023 from 5,909.83 (Gwh) in the previous quarter. However, on a year-on-year basis, electricity supply increased by 14.09% compared to 5,023.96 (Gwh) reported in Q3 2022 President Bola Tinubu on Friday signed the Electricity Act (Amendment) Bill, 2024, into law. The bill, which was passed by the House of Representatives on July 27, 2023, and the Senate on November 14, 2023, was sponsored by Babajimi Benson, who represents Ikorodu Federal Constituency of Lagos State. The Electricity Act (Amendment) Bill, 2024, seeks to address the development and environmental concerns of host communities and sets aside five per cent of the actual annual operating expenditures of power generating companies (GENCOs) from the preceding year for the development of their respective host communities. The Bill further provides that the funds set aside for the development of host communities will be received, managed, and administered for infrastructure development in the host communities by a reputable Trustee/Manager to be jointly appointed by the respective GENCO and their host community.
The group’s FY 2023 performance is reflective of its resilience and underpins the strategy to generate sustainable value for its stakeholders amid a huge foreign exchange loss of N350.31 billion compared to N22.39 billion in the previous year, representing a 1,464.5 percent rise
Senate Committee, NCDMB Hold Inaugural Meeting, to Collaborate on Local Content Implementation
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he Senate Committee on Local Content on Wednesday held the first interactive session with the leadership of the Nigerian Content Development and Monitoring Board (NCDMB) at the Senate Building at Abuja and resolved to collaborate and deepen the implementation of local content in the oil and gas industry and linkage sectors. The Chairman of the Committee, Senator Natasha Akpoti-Uduaghan moderated the meeting and assured that the committee would not antagonize the Board and other entities under its supervision but would collaborate towards effective implementation of the Board’s mandate for the benefit of Nigerians. She expressed concern over the parlous state of the economy, particularly the alarming level of unemployment which has fuelled an increase in criminality. She emphasised the need to deepen the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD Act, to create employment opportunities from the activities in the oil industry and catalyse other sectors of
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the economy. She requested the Board to submit performance reports on the implementation of the NOGICD Act, specifically on the Board’s third-party investments, capacity building programmes, expatriate quota management and research and development. She also requested the Board to recommend sections of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act that needed to be amended by the National Assembly. Other questions raised by the committee concerned the status of the Nigerian Content Development Fund (NCDF) and the performance of the Nigerian Content Intervention Fund (NCI Fund). The Committee Chair criticised the international oil companies (IOCs) in Nigeria for not investing in the petrochemical subsector and other associated manufacturing activities, whereas IOCs in other oil producing jurisdictions make such investments and contribute significantly to those economies.
She announced that the committee would invite the IOCs and other relevant agencies of Government, with a view to compel the companies to create tangible value in the Nigerian economy beyond the extraction and sale of crude oil. She said: “We need to get them around the table and tell them what we want as a country as against watching them export crude oil only.” In his comments, the Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe thanked the committee for adopting a cooperative approach and assured that the Board would provide all the requested documentations and partner effectively, to achieve the mandate of the committee and that of the Board. On the Board’s performance, the Executive Secretary stated that the Nigerian Content level for 2022 and 2023 stood at 54 percent and the Board is on course to accomplish the 70 percent target for 2027, as set in the Nigerian Content roadmap. *Continues online at www. thewillnews.com
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BUSINESS NEWS
L-R: General Manager, Showmax Nigeria, Opeoluwa Filani; Lead cast, Dead Serious, Emmanuel Chukwuemeka Ejekwu (Oga Sabinus); Executive Head, Content and Channels, West Africa, MultiChoice, Dr. Busola Tejumola and Executive Producer and Director, Dead Serious, Moses Inwang, at the New Showmax Launch event and Dead Serious Premiere in Lagos on February 9, 2024. Photo: Peace Udugba.
FCMB Launches Accelerator Programme to Empower Over 1m SMEs
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irst City Monument Bank (FCMB) has initiated an accelerator programme in collaboration with SkillPaddy and other industry experts to empower and upskill over one million small and medium-sized enterprises (SMEs) in Nigeria. The programme aims to equip startups and existing businesses with the skills and resources needed to develop innovative products and services, create new markets, and accelerate their growth. FCMB secured Technical Assistance grants totaling N511.7 million from Proparco and the African Development Bank (AfDB) to support the upskilling of SMEs, including women entrepreneurs and those operating in high-impact sectors such as agriculture, renewable energy, and digital. The bank kicked off the program by awarding N50 million in grants to 200 SMEs who participated in the first training session, announced during Global Entrepreneurship Week 2023. George Ogbonnaya, FCMB’s Group Head of SME banking, emphasised the bank’s commitment to empowering businesses and inspiring Nigerians to pursue their entrepreneurial dreams. FCMB places a strong emphasis on supporting women-led SMEs, offering mentorship and access to finance to empower these entrepreneurs. Kunle Erinle, Founder and CEO of SkillPaddy, described the partnership as a game-changer for SMEs, highlighting the potential to accelerate productivity and unlock opportunities for startups and existing businesses Oladimeji Olanrewaju, CEO of Sweet Indulgence by Bakhita and a beneficiary of the training grant expressed gratitude to FCMB for the opportunity to scale up her business through the programme. FCMB has a history of supporting SMEs, having extended N1.343 trillion in credit to over 98,000 SMEs since 2018. This support has enabled SMEs to address funding gaps, expand operations, boost productivity, create jobs, and contribute to Nigeria’s economic growth.
Oso Emerges CITN Acting Registrar/CEO
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he Chartered Institute of Taxation of Nigeria (CITN) has appointed its first female Acting Registrar/Chief Executive, Mrs. Afolake Olawumi Oso. This was announced by the CITN Director, Corporate and Internal Services, Mrs Oyeronke Ojo, in a press release. Mrs. Oso has been associated with CITN since 2008, when she joined the organization as a Manager in the Research department. Over the years, she has held several positions, including Ag. Head Education and Research, Head of the Corporate Affairs Department, and Deputy Director of Corporate Services, Membership and External Relations. Speaking on the appointment, Mrs Ojo said, “In a bid to further restructure and rebrand the Institute, a repositioning exercise was carried out by Council and following her exceptional performance, she was appointed as Deputy Registrar, Technical and Professional Services in 2021 and she was serving in that capacity till she was appointed as the Acting Registrar/Chief Executive of the Institute.” Mrs. Oso is a Lawyer by profession and her hobbies include reading and singing. She is happily married and blessed with children. Mrs Ojo congratulated Mrs Oso on her appointment and wished her success in her new capacity.
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Experts Reveal Factors to Shape Economic Growth in 2024
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Pan-African Credit Rating Agency, Agusto & Co. has identified three major economic variables that are likely to have far-reaching impacts on Nigeria's Gross Domestic Product (GDP) gowth in 2024. The leading provider of industry research and knowledge in Nigeria & Sub-Saharan Africa made this revelation at the bi-monthly forum of the Finance Correspondents Association of Nigeria (FICAN) held in Lagos on Thursday, through its Head, Financial Institutions Ratings, Mr. Ayokunle Olubunmi. According to Mr Olubunmi, the level of interest rate, inflation rate and the rate of foreign exchange will drive Nigeria's GDP growth to 2.6 percent in severe case scenario, 3 percent as a base case scenario, but at best, will not exceed 5 percent this year. Specifically, Olubunmi noted that interest rate is a very good tool that the monetary policy authorities use to monitor and fight inflation and even exchange rates. He said that everything in Nigeria today is pointing towards higher interest rates because one of the reasons why there is a lot of pressure on the naira is that there is a low interest rate environment, stressing that high rates moderate economic activities. “That is why there are high expectations that the Monetary Policy Committee (MPC) of the CBN will increase interest rate by about 500 basis point at the forthcoming MPC meeting this month”, he said. However, the Nigerian government is borrowing massively and if interest rate is high, the cost of government services will also be high, he noted. “This might discourage the MPC from raising the rates too high”, he said, adding that the average interest rate for the year might hover around 16 and 18 percent. Meanwhile, the 364-day treasury bills stop rates increased to 19 percent per annum on Wednesday. February 7, 2024. The 182-day and 91-day bills also rose to 18 percent and 12.2 percent respectively, and some analysts said the rates will likely continue to rise in the coming weeks as the CBN intensifies efforts to combat exchange rate depreciation. On inflation, he said “Insecurity is one of the major drivers for inflation. Unfortunately, insurgency, kidnapping and general insecurity are rife in the middle belt where they produce a lot of things that we consume.” Nigeria's inflation rate has been on the rise for 11 consecutive months, reaching a new high in December 2023, according to the National Bureau of Statistics (NBS). The annual inflation rate rose to 28.92 per cent in December from 28.20 per cent in November. According to Olubunmi, aside from insecurity, the increase in exchange rate is also going to affect inflation. And because Nigeria is an import dependent country, rising cost of importation will have effects on the inflationary situation which will invariably affect growth. He said Nigeria's foreign exchange earnings this year will depend majorly on oil revenue and that the price of crude oil which averaged $80pbl in 2023, will likely settle around $70 to $75pbl in 2024 and that Nigeria's crude oil production cannot exceed 1.5 barrels per day in 2024. THEWILLNIGERIA
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BUSINESS NEWS
L-R: General Manager Business and Government Relations for Shell Companies in Nigeria (SCiN), Mr. Ed Ubong; Chairman of Shell Companies in Nigeria (SCIN), Mr. Osagie Okunbor; Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB) Engr. Felix Omatsola Ogbe; Managing Director, Shell Nigeria Exploration and Production Company (SNEPCo), Mrs. Elahor Aiboni, after the visit of the Shell team to the NCDMB Liaison Office in Abuja on February 7, 2024.
FG Sets up Committee to Resolve Gas Shortage
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he Federal Government has set up a ministerial committee towards resolving the challenges associated with gas supply to power-generating companies (GenCos) in the country. Bolaji Tunji, special adviser on strategic communication and media relations to the Minister of Power, Adebayo Adelabu, disclosed this in a statement on Thursday. The government attributed the main cause of poor power supply in the country to the low supply of gas to generating companies. The Transmission Company of Nigeria (TCN) had in January said that there was a gradual decrease in available generation into the grid due to gas constraints. The company said this impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centres nationwide. The statement said in a bid towards finding a lasting solution to the challenges, the Ministry of Power in conjunction with the Ministry of Petroleum Resources (Gas) set up a ministerial committee towards resolving the crisis. “In a bid towards finding a lasting solution to challenges associated with gas supply to power generating companies (GenCos) in the country and general improvement across the power sector value chain, Minister of Power, Chief Adebayo Adelabu in conjunction with the Ministry of Petroleum Resources (Gas) has set up a ministerial committee towards resolving the crisis,” Mr Tunji said. He said the committee will consist of representatives from the two ministries, gas suppliers, the Nigeria Electricity Regulatory Commission (NERC) and stakeholders in the electricity value chain sector. He explained that the two top government officials acknowledged the need for innovative thinking in resolving the gas supply challenge to the GenCos. According to the statement, Mr Adelabu said the two ministries should work together to find a lasting solution to the problem, wondering why the issue of gas supply to the power sector was not prioritised in view of the importance of the sector to economic development. He also suggested that payment for domestic gas supply should be denominated in naira instead of dollars. “If we are serious about the economic development of the country, we need to solve the problem of gas supply today. We should look at the possibility of mandating the gas suppliers to price in naira. The domestic supply is just a fraction of what the gas suppliers supply to the international market, so paying in naira should not be a problem,” he said. Mr Adelabu added that in order to further resolve the gas supply challenge, the GenCos must enter a contractual arrangement with the gas suppliers. “With such contractual arrangements with gas suppliers, the minimum requirement that should be supplied to the generating companies would be clearly stated, thus eliminating the present situation where the generating companies are only operating at about 20 per cent of their installed capacity,” he said. He also emphasised the importance of liquidity in the power sector value chain. “We cannot overemphasize the importance of liquidity in the sector, the generating company has to cover their overheads, maintain and service their machinery and most importantly, pay for gas which is the raw materials needed for production. The only way to sustain production is payment,” he added. Mr Ekpo also agreed with the suggestion that payment for domestic gas supply should be in naira. “However, this should be legislated on. We can both meet Mr President on this, once we agree on modalities as he is the only one that can give the directives,” he added. THEWILLNIGERIA
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NCC Withdraws Disconnection Order After Glo, MTN Resolved Debt Dispute
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he Nigerian Communications Commission (NCC), has confirmed that MTN Nigeria Communications Plc. (MTN) and Globacom Limited (Globacom), have amicably resolved their interconnect debt dispute. In accordance with this resolution, the disconnection approval granted to MTN for the disconnection of Globacom has now been withdrawn. Following its initial Public Notice, the Commission with the aim of mitigating any potential disruptions to subscribers undertook further regulatory intervention, by mediating between the parties and facilitating the reconciliation process. The Commission reiterates that strict adherence to the terms and conditions of licenses, particularly those delineated in interconnection agreements, is imperative for all Mobile Network Operators (MNOs) and other licensees within the telecommunications industry. In order to proactively address and prevent future instances of interconnect indebtedness within the industry, the Commission will be requesting relevant records and regular updates from MNOs, as well as adopting a transparent approach towards industry indebtedness. The Commission further restated its commitment to fostering a stable and compliant telecommunications ecosystem in Nigeria.
Market Cap, ASI Depreciate in Weekend of Feb 9
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he NGX All-Share Index and Market Capitalization depreciated by 2.45% and 2.49% to close the week at 101,858.37 and N55.735 trillion respectively. A total turnover of 2.478 billion shares worth N47.856 billion in 54,982 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 3.893 billion shares valued at N95.147 billion that exchanged hands last week in 69,117 deals. The Financial Services Industry (measured by volume) led the activity chart with 1.687 billion shares valued at N28.514 billion traded in 25,751 deals; thus contributing 68.10% and 59.58% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 210.272 million shares worth N2.988 billion in 4,419 deals. The third place was the Oil and Gas Industry, with a turnover of 203.777 million shares worth N2.139 billion in 4,544 deals. Trading in the top three equities namely FBN Holdings Plc, Transnational Corporation Plc and Jaiz Bank Plc (measured by volume) accounted for 732.804 million shares worth N13.705 billion in 7,040 deals, contributing 29.57% and 28.64% to the total equity turnover volume and value respectively.
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BUSINESS WEEKLY
Why New Minimum Capital Base For Tier-1 Banks Should be at Least $5bn BY KUNLE OSHOBI
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he issue of minimum capital base for deposit money Banks has, once again, come to the front burner, following the indication by the Governor of the Central Bank of Nigeria (CBN) earlier this year that there was a need to raise the minimum capital base of deposit money banks to put them in a position to support the one trillion-dollar economy that the current administration is targeting.
As I once mentioned elsewhere, rather than wield the big stick on banks that are unable to meet the new capital requirements, banks should be incentivised to meet up with the new capital requirements and those that are unable to meet up allowed to play in smaller niche markets that their capital base can accommodate. With the new capital base in place, the focus of our fiscal and monetary policy should be such that lending would be encouraged to the private sector to boost both production and consumer demand. This effectively means that the government should drastically reduce its borrowing from the money market so that there are more funds available for the private sector in terms of fiscal policy, while efforts are put in place to bring down interest rates in terms of monetary policy.
Before we go on to discuss what should be the ideal minimum capital base for deposit money banks in the country, I would like to refer to that last capital raising exercise carried out by the Olusegun Obasanjo Administration which even though was deemed to be successful, failed to achieve the ultimate objective empowering banks to fund the productive sector of the economy.
With the new system in place, the average Nigerian entrepreneur, even consumer, should be able to access bank credit. This will increase economic activities both on the demand and supply side, thus accelerating economic growth while banks significantly increase their asset size.
It is true that the 2005/2006 bank capital raising exercise was very successful with the industry tier one capital increasing by over 200 per cent within a space of two years.
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With $13.2 billion in tier-one capital, the Standard Bank group of South Africa is the most capitalised bank in Africa. This is followed by the National Bank of Egypt with $7.3 billion, Compatriot Banque Misr, also of Egypt, with $7.2 billion, Ned Bank of South Africa with $5.9 billion.
Similarly, the minimum capital base for banks licensed to operate nationally should be at least a billion dollars. The minimum capital base for regional and other categories of banks should also be reviewed accordingly.
When we take into context that Nigeria has a much bigger economy than these other African countries and a population that dwarfs most of them, we begin to realise that our banks need to be more adequately capitalised to fund the economic growth that we so much desire.
For the proposed bank capital raising exercise to achieve its aim of supporting the growth of a one trillion-dollar economy, the increased capital of the banks must be directed towards enhancing the capacity of the banking industry to fund SMEs to
Given Nigeria’s status as the biggest and most populated economy in Africa, it is not out of place to expect that Nigerian banks should be among the biggest on the continent. Also, benchmarking what our African peers are doing, will help us to arrive at what should be the minimum capital base for banks in the country.
It is clear from the above summary that if banks in much smaller economies than Nigeria have tier-one capital running into several billions of dollars, Nigeria, with a much larger economy and massive population, will certainly need more for us to remain competitive with our African counterparts. It is on this basis that I believe that the minimum capital base for tier-one banks in Nigeria that are licensed to operate internationally should be at least $5 billion.
The other irony is that one single bank in South Africa, (Standard Bank Group) has more tier-one capital at $13.2 billion than all the top 10 banks in Nigeria which have a combined tier-one capital of less than $12 billion.
Despite this, up to 70 per cent of the funds available in the industry went to the government in form of Bonds and Treasury bills, while most of what was left of the 30 per cent went towards financing the big corporates and multinationals, This left very little to support Small and Medium-scale Enterprises (SMEs) that are the engine of growth in the economy.
As of today, less than 3 per cent of Nigerians have access to loans from the formal sector, and in a thriving economy, this figure should be at least 70 per cent. However, our bankers have failed to develop the credit system in the country as it is much easier for them to earn fat interests and fees from government securities. This is opposed to the hard work of managing millions of small lenders with the higher attendant risk associated with lending to them.
In contrast, Zenith Bank, which is the most capitalised bank in Nigeria, in terms of tier-one capital, has a capital base of $2.6 billion, while it ranks as the 12th most capitalised bank on the continent
It is a contradiction that though Nigeria has the biggest economy on the African continent, no Nigerian bank is amongst the top 10 most capitalised banks in Africa. Although the list of biggest banks in Africa is dominated by South African banks, banks from countries with much smaller economies like Morocco, Algeria, and Egypt also make the list of the top 10 most capitalised banks in Africa.
This was despite the fact that the newly reformed pension industry was also accumulating trillions of Naira in pension funds which greatly increased liquidity in the financial services industry.
The practice of the government cornering most of the available funds in the financial industry to finance unproductive activities must stop. Instead, the government must be more focused on supporting the growth of our SMEs, which will not only ensure job creation and economic growth but also ensure increased government revenue through taxes.
First Rand of South Africa has $5.5 billion, Attijariwafa Bank of Morocco $5.4 billion, ABSA of South Africa boasts $5.3 and Banque Centrale Populaire of Morocco $4.9.
Although Nigerian banks have been doing relatively well and some people think there is no need for a new minimum capital base for the industry, the reality is that compared to the size of our economy, the Nigerian banking industry is grossly under-capitalised and lacks the capacity needed to adequately fund the growth of the economy.
However, the increased capital in the industry failed to translate to increased funding for the productive sector as the government’s appetite for funding also increased significantly with a resultant effect of the government crowding out the productive sector from the money market.
stimulate growth in the economy.
It is itself a contradiction that even though Nigeria has the biggest economy on the African continent, no Nigerian bank is amongst the top ten most capitalized banks in Africa
We will effectively be developing a credit culture in our society where the average citizen will easily be able to access credit and be expected to pay it back when due. The downside of this credit system that bankers are apprehensive about is that some Nigerians may take advantage of the system and deliberately default on loans extended to them. That is where the credit rating agencies come in as defaulters would be blacklisted from all sorts of credit in the country until they liquidate their outstanding obligations. As time goes on, Nigerians will begin to realise the benefit of good credit ratings when they see their contemporaries accessing higher facilities for maintaining a good credit score, while those with poor credit scores are denied access to credit. With the development of the credit culture in our economy, we will be able to unlock a lot of our economic potential which will in itself trigger rapid economic growth for the benefit of all Nigerians. •Oshobi is a Development Economist and Management Consultant. THEWILLNIGERIA
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FEBRUARY 11, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com
SHOTS OF THE WEEK Photo Editor: Peace Udugba [08033050729]
L-R: Group Chief Executive Officer, Nigerian Exchange Group Plc (NGX Group), Temi Popoola; Chairman, Nigerian Exchange Limited (NGX), Ahonsi Unuigbe; Director General, Securities and Exchange Commission (SEC), Lamido Yuguda; Group Chairman, NGX Group, Umaru Kwairanga; Chairman, Senate Committee on Capital Market & Institutions, Senator Osita Izunaso; Member, Senate Committee on Capital Market & Institutions, Senator Abba Moro; Member of the Senate Committee on Capital Market & Institutions, Senator Peter Jiya and Ag. Chief Executive Officer, NGX, Jude Chiemeka, during a Closing Gong Ceremony by the Senate Committee on Capital Market visit to the Exchange in Lagos on February 6, 2024.
L-R: Director, Network Transformation and Planning, Airtel Nigeria, Dhillon Hermanpreet; Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi; Director, Corporate Communications and CSR, Airtel Nigeria, Femi Adeniran and Director, Airtel Business, Ogo Ofomata, at the New Telegraph Awards where Airtel was honoured as the Telecommunications Company of the Year, in Lagos, on February 2, 2024.
L-R Chief Executive Officer, Norebase, Tola Onayemi; Managing Director, Moniepoint Microfinance Bank, Babatunde Olofin; Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite and RegistrarGeneral/Chief Executive, CAC, Hussaini Ishaq Magaji, during the Moniepoint MFB-CAC partnership ceremony to sign up 2 million businesses, in Abuja on February 7, 2024.
L-R: Permanent Secretary, Federal Ministry, Housing and Urban Development, Marcus Ogunbiyi; Minister of State for Housing and Urban Development, Abdullahi Tijjani-Gwarzo; Minister of Housing and Urban Development, Ahmed Musa-Dangiwa and Secretary to the Government of the Federation, George Akume, during the Ground Breaking Ceremony of 3112 Federal Housing Unit at Karsana in Abuja on February 8, 2024.
Chairman and Chief Executive of National Drugs Enforcement Agency (NDLEA), retired Brig.-Gen. Mohammed Marwa (Right), presenting award of excellence to the Commander, NDLEA Lagos Command, Abubakar Wali in recognition of the Command for outstanding performance in supply reduction, during the Chairman’s Excellence Award in Abuja on February 7, 2024.
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Sunny Kuku Shuts Down Ijebu-Ode For Chieftaincy Installation
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ENTERTAINMENT &SOCIETY WEEKLY EDITOR Ivory Ukonu
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hree months after he was tipped to fill the vacant position of Ogbeni Oja of Ijebuland, Olorogun (Dr) Sunny Folorunso Kuku has finally been honoured with the title. The installation ceremony took place last weekend at the palace of the Awujale of Ijebuland, Oba Sikiru Kayode Adetona, after the official confirmation. The Ogbeni Oja title is the highest non-hereditary Continues on page 40
FROM FOLA ADEOLA, UNIQUE WAY TO CELEBRATE 70TH BIRTHDAY
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ast month, rather than throw a loud and crowded party, prominent businessman and socialite, Fola Adeola, chose to celebrate his 70th birthday by unveiling a cutting-edge medical facility in Victoria Island. Joined by his wife, Hajara; Toyin Saraki, wife of former Senate President, Bukola
IKECHI UKOH
Tourism Ambassador For Africa
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ENTERTAINMENT &SOCIETY WEEKLY
I Was Once Mocked And my Vision For Intra-Africa Tourism Rejected – Ikechi Ukoh He bestrides the tourism sector in Nigeria and Africa like a colossus. Ikechi Ukoh, a travel consultant, promoter and tourism development expert, who recently clocked 60 speaks with Ivory Ukonu about his passion to see the African continent become the biggest tourist destination in the world. Excerpts:
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ou have made the travel industry popular via your annual AKWAABA Awards and exhibition a thing to reckon with. How did it all start? Travel award was the first thing I ventured into in 1996. The AKWAABA exhibition was born during the 11th edition of the award. That year, it was renamed Travellers' Award and Exhibition. There had been several attempts to organise a travel exhibition in Nigeria and they all failed. And so, one day, the management of Eko Hotel and Suites, Frank Nneji of ABC Transport and British Airways, all called me for meetings separately, as if there was a conspiracy among them, and told me that they think that I am the only Nigerian who can hold a successful travel exhibition. They believed I have the network and capacity locally and internationally. I tried to evade it and told them I only knew how to host travel awards and not exhibitions, but they insisted and asked me to understudy how exhibitions are done. British Airways volunteered one of their staff, Folake Ani-Mumuney who is currently the Global Head Marketing and Corporate Communications, First Bank of Nigeria Plc, to assist me with my research. I had attended several international exhibitions and knew what to expect but I chose to spend one year to educate myself more on it. The following year, we held the Travellers' Award and added an exhibition to it. It was bankrolled by Eko Hotel and Suites. The next year we decided to globalise it and chose a name that was globally appealing. Because it is held in Lagos, Nigeria, we decided to choose a word that is welcoming beyond Nigeria. We chose AKWAABA, an Akan word for welcome, promoted first by Cote D'Ivoire and later adopted by Ghana. It worked. So, the Travellers' Award became relegated to the background and the AKWAABA Awards and Exhibition became the dominant event. So, you completely buried the Travellers' Award? Well, it metamorphosed into Africa Travel 100 Awards. AKWAABA Awards and Exhibition is a continental event. The Travellers' Award was supposed to be a domestic affair. However, between 2006 and 2011 we didn't do any domestic event except the global AKWAABA Awards and Exhibition. Then in 2011, we began another domestic event, Abuja BANTABA. We chose Abuja for the domestic event because AKWAABA is held in Lagos. We also began another event in Ghana, the biggest Travel Expo in that country. Our most recent is JABAMAH, a Travel 'Bleisure' event that seeks to have a serene business environment laced with leisure activities in Nigeria. You have tried to make Nigeria a tourism destination through these events, no doubt, but this has not really translated to Nigeria becoming a tourist hub. Why is this so? First off, yes, I have played my part. Someone once told me that she has never seen anyone single handedly drag tourism and make it alive like I have done. Yes, people give me credit, but I have not done anything single handedly. Covid 19 was in 2020 and the industry literally collapsed but we, a group of likeminded people and I decided that we were going to revive the industry and keep it alive and the only way we could do so was with domestic tourism. So, in June 2020, we launched the seven wonders of Nigeria conferences. Every tour operator in Nigeria signed up for it and this translated into businesses for people and these destinations. So, do I agree that this has not translated to Nigeria becoming a tourist hub? No, because the biggest tour companies in Africa are Nigerians. We have become a hub for outbound tourism, we are global players in that regard. What you and most Nigerians want is for us to become a hub for inbound tourism, you want more people to come to Nigeria. THEWILLNIGERIA
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Why not? Why can't Nigeria be like Dubai so that people can also make it their favourite destination? We do not have those kinds of facilities to cater for that now but there is something happening now that most people are not noticing. There is 'Detty December' which causes a lot of traffic throughout the month unlike what was obtainable in the past when in the month of December, there was always a free flow of traffic. There is an influx of people coming into the country at that time of the year and billions of Naira are spent in Lagos alone. It has become so big that people now work towards being a part of 'Detty December'. The tourism that Dubai has is just an idea that they put in the air, ours is even tangible - music concerts, parties, shows etc in December. Having said that, do you know that the man who built the tallest building in Dubai hosted me and told me that he wants to come build the same thing in Nigeria and wants to work with me in that regard. The man was supposed to build at the Centenary City, Abuja but the government stopped the project. So, the guy moved on and built in other countries. Why did they stop the project? I don't know, I am not a politician, but these are some of the drawbacks you see in the tourism sector. That was an opportunity to create a major tourist attraction. A waterfall is no attraction if there is nothing to it. When I go to Victoria falls, the biggest waterfall in the world, located on the border between Zambia and Zimbabwe, I do helicopter rides, I do all kinds of activities there because the tourism potentials of the place have been maximized to Ukoh the fullest by the authorities. I don't just go to the waterfalls to see only the water, there are other things to do there as well. Here for instance, say the Obudu Cattle Ranch in Cross Rivers State, you do not have anything that is as beautiful as that place elsewhere. It is a place where you can literally touch the cloud. But there are no flights to that place every day. We are a country that has been spoiled by oil wealth. Imagine if we had a responsible government that will harness the vast opportunities in tourism. They believe tourism is about cultural performance, tourism is big and is a huge revenue generator for other countries. But I am happy that there is a whole generation of young
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Ukoh people who have taken it upon themselves to promote and champion the real tourism cause. They are on fire. I am glad that I am making an impact in that direction. Outside those championing the real cause of tourism, every other person who claims to be an operator in the tourism space is either selling flight tickets or running a hotel. That is not all there is to tourism. The late Prophet Temitope Balogun Joshua was the biggest tourism attraction in Nigeria. Presidents of nations visited that church when he was alive, and Abuja wasn't even aware. Former Imo State governor, Rochas Okorocha had a good concept for tourism but because he couldn't coordinate it properly, people felt he was wasting money building statues all over the place. The dune that people rush to go see in Dubai, we have three places like that in Nigeria. There are animals that are found only in Cross Rivers State and not elsewhere. Do you know that Dolphins visit Nigeria every year when they migrate? You can watch Dolphins in South Africa and Kenya but in Nigeria, they get caught and eaten for dinner in Bayelsa State. We have simply not organised our tourism well enough. Hopefully we get a government that understands the huge tourism potentials in Nigeria and properly harness it.
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ENTERTAINMENT &SOCIETY WEEKLY occupying a pride of place in that story. The rejection I got and how I withstood all the resistance, makes me wonder where I got the capacity to turn the vision into a business. I built a business out of that vision, and I got recognised for my efforts by African governments.
There is also the issue of security. Isn't that enough to hamper tourism? I belong to the school of thought that says that security in Nigeria isn't a problem for tourism to thrive because we are not the most violent destination in the world. We are not even in the top ten and tourism still thrives in the countries on this list. There is insecurity in Nigeria but we move around in large numbers and that helps.
What would you consider to be your biggest achievement? Connecting Africa to the Diaspora, specifically the Caribbeans. The Caribbean tourism organisation attended their first ever event in Africa during one of the AKWAABA Awards and Exhibition. I felt that until Africans connect to the Diaspora, tourism won't work well. It took me 15 years. In 2019, I was able to make that connection. That is a huge milestone for me.
And Nigerians love to travel Obligatory travels as I like to call it. Tourism despite not being fully harnessed are the biggest employers of labour. The hotels are the biggest employers in Abuja, land transport is one of the biggest employers of labour, restaurant business is everywhere in Nigeria.
What is the story behind your signature look, always with a scarf around your neck? I have to always wear a scarf. It is a way for me to create an identity for myself. The scarves come from different countries of the world. In those days when I attended the World Travel Market or international expos, I always had a Nigerian scarf with me to identify me as a Nigerian. As time went on, people from other countries began to gift me scarves from their own country. When I am in Nigeria, I wear scarves from other countries but when I travel out, I wear home-made scarfs that identify me as a Nigerian. I now have so many from different countries that I no longer accept them as gifts.
Do we really have a five-star hotel in Nigeria? Most hotels we give five-star ratings in Nigeria are most probably three-star hotels in other climes. I have seen a three-star brand in another country come to Nigeria and charge more than a four-star brand because of market positioning. Anyone can position its brand, but I think Hilton Abuja is a five-star hotel by every standard used in classifying a five-star hotel. What are those standards? The number of facilities required of a five star, it is multilingual, it has a clinic, a specialised restaurant etc. Those are the things you use to check hotel classification. It ticks all the boxes. Eko Hotel also ticks all the boxes. But it is in service standard that people can say Lagos Marriott is a five-star hotel. But does it have more of those boxes than the other hotels? No, it doesn't despite being a powerful brand. Before Lagos Marriott, Victoria Island was the headquarters of hotel brands but not anymore. The Lagos Marriott recalibrated the hotel environment on Lagos mainland by bringing quality and high value into the environment. You are a recipient of many tourism awards both within and outside Nigeria. Which of these awards would you consider to be the most significant? Three stand out. The award by the government of Rwanda. I also got the privilege to name a Gorilla there. This was in 2014. The publisher of Africa Travel Times based in New York, he is dead now, recognised me as the ambassador of tourism for Africa. Then I was given an award for African man of the year in Ethiopia in 2017. The government of Gambia gave me an award in 2010 for promoting tourism in Gambia. So the international awards mean a lot to me. Probably the one that excites me the most is the one from the University of Port Harcourt, Rivers State, my alma mater. I graduated with a Second-Class lower, but they decided to honour students from the department of Geography and chose one person from each generation, starting from the 70s. I was chosen for those who graduated in the 80s. I was invited to speak to the students and motivate them. I wondered why I was chosen to come back to the school to talk to the students. I am not the most successful graduate from the school. But the lecturer told me that I am not a politician, I am not in the oil business, I am not a criminal, I live in Nigeria, I don't work for a corporation but each day, the students read about me because I was able to create something out of nothing with the knowledge I got from the school and from the Geography department and that is how I inspire others. You know how it feels being an average student and they call you back to honour you for your outstanding achievement. That was a lot for me. And that made me decide to mentor as many people as I can in the area I play and since then, I have received a lot of awards from young people. All that happened because I was doing what I was doing all over Africa and getting accorded with utmost respect by governments of these nations. I introduced intra-Africa travelling, not single handedly though, about three of us who believed that Africans should be able to travel within Africa. We made it happen. In those days when I would speak to other African nations at exhibitions or conferences, that we can collectively make this happen - get Africans to travel within Africa, I was mocked, called all sorts of names and chased out of their exhibition pavilions. They were only interested in European tourism. Eventually three people from Zimbabwe, East Africa, South Africa and me from West Africa bought into the vision. Now everyone is doing intra Africa tourism. One day a guy from Rwanda who threw my vision to my face told me that I was way ahead of the times with my vision. He confessed his admiration of my tenacity to not give up all the times I was mocked, and my vision rejected. And that today, the story of tourism in Africa cannot be written without my name
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How do you remember the country a scarf originates from? It took me time to learn them.
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Ukoh
And the hat? As a young boy, I liked wearing hats. I didn't know why but I liked it. I like the Niger-Delta hat even though I am from Abia State, but I considered it too big and decided to go for a small brim hat which wasn't popular when I first started wearing it, just to stand out. I made it part of my identity. I don't carry complimentary cards. In my field, everyone remembers the tall man with a small brim hat and a scarf regardless of whether I am wearing native or English attire. And it worked.
Here for instance, say the Obudu Cattle Ranch in Cross Rivers State, you do not have anything that is as beautiful as that place. It is a place where you can literally touch the cloud. But there are no flights to that place every day. We are a country that has been spoiled by oil wealth. Imagine if we had a responsible government that will harness the vast opportunities in tourism. They believe tourism is about cultural performance, tourism is big and is a huge revenue generator for other countries. Outside those championing the real cause of tourism, every other person who claims to be an operator in the tourism space is either selling flight tickets or running a hotel. That is not tourism. The late Prophet Temitope Balogun Joshua was the biggest tourism attraction in Nigeria. Presidents of nations visited that church and Abuja wasn't even aware Ukoh THEWILLNIGERIA
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FEBRUARY 11, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com
ENTERTAINMENT &SOCIETY WEEKLY STORIES BY IVORY UKONU
WHY JIMOH IBRAHIM BELIEVES HE SHOULD BE ONDO STATE GOVERNOR
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ontroversial businessman and lawmaker representing Ondo South Senatorial District, Jimoh Ibrahim, appears quite keen to fulfill his ambition to govern Ondo State. A serial contender for the number one seat in the state on the platform of Peoples Democratic Party, PDP, Ibrahim, who was the chairman of defunct Global Fleets Group, has formally declared his ambition, even linking his 'likely' victory to the passing of his friend, Governor Rotimi Akeredolu. He is hoping that his good deeds and support for the late governor will count in his favour at the polls. Recall that in the build up to the governorship election in the state in 2020, Ibrahim, who was a staunch member of the PDP, had defected to the ruling All Progressives Congress, APC, Ibrahim and donated 20 Kia Picanto cars to Akeredolu towards his re-election campaign. He had hoped that his Greek gift would pave the way for him to be Akeredolu's anointed successor. Unfortunately, things haven't turned out the way he had expected, especially with the number of very serious contenders increasing to 10, including the current governor of the state who will join
the race and likely beat others in the game, using the power of incumbency. However, Ibrahim has remained undaunted. He hopes to emerge winner because, according to him, he is the only contestant that has deployed enough resources to harness the power of Information and Communications Technology (ICT) for the election. He also claims to have an edge over all the other aspirants, being the oldest of them all who has contested election twice. Since the Independent National Electoral Commission (INEC) blew the whistle for campaigns to begin, Ibrahim has hit the ground running. He has intensified consultations and mobilisation, visiting the 18 local government areas in the state. The aspirant is now on tour of the 203 wards. Ibrahim holds nine degrees, including a doctorate from the University of Cambridge and other degrees from Oxford and Harvard Universities.
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From Fola Adeola, Unique Way to Celebrate 70th Birthday Saraki; his co-investor, Fola Laoye and the Governor of Lagos State, Babajide Sanwo-Olu, Adeola formally declared the new hospital open. The hospital, a part of Iwosan Lagoon Hospitals, an arm of Iwosan Health Investment Company, aims to revolutionise the healthcare sector and address the challenge of medical tourism by delivering top-notch services. The new medical facility is poised to provide a wide range of services, including open-heart surgery, bariatric surgery, urology, neurology, critical emergency care, and more. The launch of the medical facility follows the acquisition of the Lagoon Hospitals Group, a leading hospital operator in Nigeria, by Iwosan Investments nearly two years ago. Under Adeola, this acquisition led to the rebranding of Lagoon Hospitals to Iwosan Lagoon Hospitals which is expected to redefine the medical landscape, enhance clinical services, and provide a boost to healthcare accessibility in Nigeria. In 2011, Iwosan Lagoon Hospitals became the first hospital in sub-Saharan Africa to attain the THEWILLNIGERIA
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Gold Seal of Approval from the Joint Commission International (JCI). The hospital group has facilities across six locations in Nigeria, thereby becoming one of the largest private tertiary healthcare providers in West Africa. An accomplished man by all standards, Adeola, a co-founder and chairman of Iwosan Investments and founder of Guaranty Trust Holding Company Plc, wears multiple hats. He chairs Main One Cable Company Limited, which operates West Africa’s first open-access submarine cable. Additionally, he serves as Chairman of FATE Foundation. He also heads the boards of Arm Holdings, Lotus Capital, Eterna Oil, CardinalStone Partners Limited, UTC, Credit Registry Services. Adeola served as a member of the Global Advisory Committee on Philanthropy of the World Economic Forum for four years. In 2001, he was invited to join twenty-four other business leaders for the Aspen Institute ISIB Annual Business Leaders Dialogue in Aspen, Colorado. In May 2004, he was appointed Commissioner on the Commission for Africa by the British Prime Minister Tony Blair. THEWILLNIGERIA
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Sunny Kuku Shuts Down Ijebu-Ode For Chieftaincy Installation
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NNAMDI EZEIGBO DELVES INTO HOSPITALITY BUSINESS
title that an Ijebu man can aspire to. The holder of the title is also automatically a king maker. Following his installation, Kuku became the third Ijebu man in modern history to be so honoured after the late Chief Timothy Adeola Odutola and High Chief Bayo Kuku (an uncle to the new Ogbeni Oja) who last held the position till his demise in 2015. The Ogbeni Oja of Ijebu land, otherwise known as the leader of commerce and industry in Ijebu, is a highly contentious one. The intrigues and competition that comes into play concerning who takes the title, naturally causes the Awujale such a long delay in the selection of the new holder. The title is usually given to a very successful businessman who is accomplished in his chosen career and at the prerogative of the Awujale. Prominent Ijebu sons that have participated in the contest for the title include the Founder of Fototek, Chief Adegunwa and the Chairman of Honeywell Group, Oba Otudeko. Coincidentally, Kuku's installation ceremony took
Olamide Davies Bags 4 Chieftaincy Titles
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ing of affordable mobile phones in Nigeria, Nnamdi Ezeigbo has expanded his business tentacles to include the hospitality business. Ezeigbo the founder and CEO of Slot Systems Limited and co-founder of the Tecno and Infinix phone brands, currently the fastest selling mobile phones in Nigeria recently played host to some carefully selected distinguished guests which included veteran Nollywood actor, Kanayo O Kanayo; founders of RevolutionPlus Properties, Mr and Mrs Bamidele Onalaja etc during the opening of his brand-new lounge. Aptly named VSP Lounge, the humongous relaxation center is just a stone throw from his SLOT business outfits which he runs with his wife, Nkechi, within the Ikeja axis of Lagos State. What sets his lounge apart is the fact that it has a rooftop sitting area where one can take in the scenery of Lagos skyline while unwinding. That Nnamdi has done quite well for himself cannot be over emphasized. From searching for a job in vain after finishing his youth service to settling as a computer repairer, and finally the business magnate and role model that he is today, Nnamdi has proven that when opportunity meets preparation, success happens.
place a month after he clocked 80. Being an important title, quite a number very important personalities converged in Ijebu-Ode, Ogun State to felicitate with the celebrant. Among them were former Governors of the state, Gbenga Daniel, Ibikunle Amosun and Segun Osoba. Also in attendance at the event were the Deputy Governors of Ogun and Lagos States, Noimot Salako-Oyedele and Obafemi Hamzat; the Osile of Oke Ona, Oba Adedapo Tejuosho; Paramount ruler of Yewaland, Oba Kehinde Olugbenle, etc. On the bandstand to thrill guests was Queen Ayo Balogun. An accomplished medical doctor, businessman and highly distinguished personality from the Balogun Odueyingbo Kuku Family of Ita Ntebo, Ijebu-Ode, Olorogun Kuku is the Joint Chief Medical Director and co-Chairman of EKO Hospital or Ekocorp Plc, which he cofounded in 1978. It is the only quoted Hospital on the Nigerian Stock Exchange and the first Federal Government recognised private hospital.
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he city of Lagos recently hosted dignitaries from all walks of life during the installation of Ambassador Olamide Davies Talabi with four chieftaincy titles from four different communities. The award-winning humanitarian, advocate and a two-time Honorable Commissioner in the City of Newark, New Jersey, United States was conferred with the following titles: the Yeyeluwa of Agbado Kingdom; the Jakadiyan Wuje of Azara Nasarawa, a title she got because of her over two decades of humanitarian work and women empowerment activities; the Yeye Tunwase of Ifetedo Kingdom and the Yeye Atunluse of Aramoko Kingdom. No fewer than 20 traditional rulers from different parts of the country attended the
installation ceremonies. The guests include: The Chief of Staff of Lagos State, Tayo Ayinde; Cardinal James Omolaja Odunmbaku; Lagos State Commissioner for Establishment and training, Afolabi Ayantayo; Hon David Odunmbaka, Chairman Ojodu Local Government; HRM Oba Adeyeye Ogunwusi Ojaja II; HRH Olori Folashade Ashley Ogunwusi; HRH Oba Adedayo Shyllon; HRH Oba Akinola Akinrera; HRH Emir Kabiru Ibrahim; HRH Oba Olusegun Aderemi; Erelu Abiola Dosunmu, Iyalaje Odua Toyin Kolade; HRM Oba Olusegun Macgregor; HRH Olori Omolola Macgregor; Publisher of Ovation Magazine, Dele Momodu; and Caroline Adeneye. Nollywood was also generously represented. The chairwoman of Imperial Group of Companies LLC, Davies is also the founder of Miss Africa Tri-State beauty pageant and the Ogun State Ambassador for Culture and Tourism. A real estate guru, International Trade and Investment Consultant, she is also a published author of two books; 'Women In Shelter' and 'She Wears The Crown'. Being a two-term serving Taxi Commissioner (Transport) in the US makes her the first Nigerian woman to achieve this feat.
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FEBRUARY 11, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com
ENTERTAINMENT &SOCIETY WEEKLY STORIES BY IVORY UKONU
Tiwa Savage Caught in Ongoing Rift Between Tiktok And UMG
NEYA KALU FLOATS BEAUTY OUTFIT
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eya Kalu, the daughter of former Abia State governor, Senator Orji Uzor Kalu, has taken her love for beauty to a new height by increasing her investments in that sector. Neya, who already runs Basecoat, a chain of nail salons, recently floated a beauty hub which she runs in conjunction with her close friend, Onyekachi Iroha, a permanent cosmetic artist who is also the founder of Beauty Atelier. The beauty outfit is based in Abuja with plans to expand to other parts of the country. Beside her love for the beauty industry, Neya is currently the Chairman of The Sun Newspaper. This position she assumed after her father stepped down from the mantle of leadership. Kalu however remains the founder of the newspaper. Educated at the University of Buckingham, England, Neya holds a degree in Law and Finance. She is also the Vice-Chairman of Sun Heavens Hotels and Resorts. Previously engaged to be married to Abia-born Lagos bred businessman and politician, Chima Anyanso, a few years ago, the wedding unfortunately got called off as a result of unpalatable tales on the part of Chima. Both of them have since moved on and are married to other people. Neya has been married to businessman Lawrence Iyere since 2017.
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Meet Four Nigerians Showcasing Designs in New York Fashion Week
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or the first time, the New York Fashion Week (NYFW), an occasion where designers, models and celebrities come together from far and wide to showcase and swoon over some of the best fashion designs you’ll ever see, had the highest number of Nigerians showcasing their designs. Although African designers and African designs have become a highlight at NYFW and fashion weeks as the developed world has begun to embrace traditional African elements, with Adebayo Oke-Lawal of Orange Culture; Taofeek Abijako of Head of State and Teniola Adeola of Tia showcasing their designs in the past, it is to Nigeria's credit that our fashion has evolved over time with an increasing number of designers exporting African brands and showing them to the world, thus also increasing our visibility. The designers who showcased their designs this year include: Oshobor: Launched in 2020 by Oshobor Odion Peter, the brand offers slow-fashion inter-knitted with indigenous Nigerian elements. The brand was born from the love of the father-son relationship. Furthermore, Oshobor chose to oppose toxic masculinity with collections like Na Man You Be and Omo No Mose, which celebrate the strength, independence, confidence and boldness of femininity. Head of State: Owned by Nigerian-born, Taofeek Abijako, the brand was introduced to fashion and design as he often joined his father to his studio in Lagos. His trips with his dad sparked his fascination with the social relationships that exist in the everyday, married with art in marginalized spaces. Abijako has
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Oshobor
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been a force to be reckoned with back in 2018. He showcased his Head of State collection at NYFW for the first-time last year, which made him the youngest designer to showcase on the biggest runway in the world. This will be his second time showcasing his unique designs. Onalaja: At the Centre of Onalaja owned by Kayinsola Onalaja is an inclusive and accessible luxury. While there is definitely a time and place for couture, it makes a girl like me very happy to see wearable, or demi-couture designs on runways like NYFW. Onalaja’s designs merge African and modern, contemporary designs to celebrate a host of femininities that exist.
Yutee Rone: She runs the self-named fashioned label, Yutee Ronee and for the first time will be showcasing her FW 24/25 collection on Runway 7 at New York Fashion Week. She is poised for success having attained such a significant milestone, through organic growth and gaining well-deserved global recognition. The journey of nurturing Yutee Rone as she would like to say, required unwavering dedication, involving extensive hard work and perseverance. Despite entrepreneurial challenges, setbacks, moments of demotivation, and various obstacles, my team and I remained resilient, steadfastly rejecting any notion of giving up.
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OBI CUBANA FLOODS NIGERIA WITH 100 ELECTRIC VEHICLES
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usinessman and socialite, Obinna iyiegbu, aka Obi Cubana, has taken his new investment in the transport sector to a different level with his latest exploit. Recall that THEWILL had earlier reported that the influencer floated an e-hailing cab service aptly named Enviable Transport Service last year. Obi Cubana had said that he hopes to deliver better transport services than what is currently available with deep-rooted innovations and technology. Well, Obi Cubana who is constantly cooking new business ideas recently took delivery of 100 electric cars for the first phase of the business to ply the city of Abuja. He is hoping to replicate the same feat in Port Harcourt, Enugu, Asaba, Lagos, Umuahia where the e-hailing service will be available soon.
he ongoing battle between Universal Music Group (UMG) and TikTok has left music enthusiasts in a quandary. UMG is the world's leading music company, with a roster of artistes and labels in more than 60 countries. TikTok, on the other hand, which is owned by Chinese company, ByteDance, has evolved into a crucial marketing tool for musicians Savage worldwide, catapulting songs to global acclaim. Last month, just a day before UMG’s licensing agreement with TikTok expired, the music powerhouse publicly announced its decision not to renew the deal. Citing issues such as inadequate compensation, AI encroachments on artists’ creative works, and concerns over online safety, UMG reiterated its commitment to nurturing artistic and commercial endeavours in an open letter. The company argued that despite TikTok’s “massive and growing user base, rapidly rising advertising revenue and increasing reliance on music-based content, TikTok accounts for only about 1 per cent of its (UMG) total revenue. In response, TikTok said UMG chose to walk away from the powerful support of a platform with well over a billion users that serves as a free promotional and discovery vehicle for their talent. It stated that it has been able to reach ‘artistfirst’ agreements with every other label and publisher, and Universal’s self-serving actions are not in the best interests of artists, songwriters and fans. The battle has caused songs of UMG artists, such
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as Drake, Taylor Swift and Tiwa Savage to be removed from the TikTok audio library and in cases where they have been uploaded by users or even the artists, they were muted. The company once said that music is at the heart of its app experience. Beyond promoting music, the social media platform has become a discovery hub for many music lovers, linking them to new sounds while evoking a feeling of nostalgia for old music. There are dedicated accounts that upload Nigerian old skool’s music. But sometimes, artists complain that these social media and streaming platforms only pay them pittances, raising concerns about the appropriate payment for creative work. Many reluctantly stayed on the platform to retain their fan base. The rift between the two giants has ignited a fervent debate among music enthusiasts. While some view the rift between TikTok and UMG as an opportunity for independent artists to shine without being tied to record labels, others advocate for fair compensation for artists whose intellectual property graces TikTok’s platform. THEWILLNIGERIA
FEBRUARY 11, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com
ENTERTAINMENT &SOCIETY WEEKLY
Memo to Culture Minister: Harnessing Nigeria's Soft Power BY JULIUS OGUNRO
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e are in the golden age of Nigeria’s cultural and creative domination of Africa. From Cape Town to Cairo and Blantyre to Bamako, everyone is dancing to Nigeria’s afrobeats, watching Nigerian film stars on television or consuming one of the country’s many creative productions.
Nigeria’s creative industry has grown so exponentially without significant state support on the back of the creativity and ingenuity of our young people. So, any overt attempt by the government to play a serious role now will be suspicious and probably resisted for fear that it will come with increased bureaucracy, censorship and inefficiency.
Nigeria’s artistic influence across Africa is such that no party or show on the continent is complete without the music of Burna Boy, Davido or Rema. Also, Daniel Etim Effiong, Funke Akindele, Timi Egbuson and other film stars are constantly on Africa’s screens. They are easily recognisable in far-flung places like Limpopo and Lilongwe as they are in Lagos and Abuja.
But the government can yet tap into the strength of our vast cultural products to brand Nigeria positively. This should not be a media-centric campaign but a nuanced approach that leans heavily on the goodwill and patriotism of the leading filmmakers, producers, musicians and artists. The Ministry of Arts, Culture, and the Creative Economy should engage these culture producers to explore opportunities for infusing positive elements about the country in their work.
Nigeria also dominates the skit-making business, with creatives such as Mark Angel, Broda Shagi and Brain Jotter, leading the pack with tens of millions of followers on Instagram and Facebook and frequently getting millions of views for their sketches. This is a soft power gold mine, which, if appropriately leveraged, can provide the country with an outsize influence on the continent and in the world, and also help to repair or at least mitigate its negative image. Soft power is a concept that refers to a country's ability to influence the behaviour of other countries and people through attraction and persuasion, rather than coercive means. It is based on a country's cultural appeal, political values and foreign policies.
It could be about beautiful and unique places in the country, the energy and resilience of the people, our unique attitude to entrepreneurship, football artistry or grit. The point is that there should be a deliberate but subtle effort to promote the Nigerian brand in our cultural produce, in such a way as to pique curiosity or change a mindset. It will not be encouraging flat-out lies about the country or airbrushing its numerous challenges out of the picture but that despite all this, ‘’Nigeria is…’’
American political scientist and diplomat, Joseph Nye, who coined the term, contrasted it with hard power, which is the use of force or coercion to exert influence over others. Such actions or threats may be in the form of military and economic power. Over the years, Nigeria has lost considerable influence on the continent, far from the era when it played a significant role in the decolonisation struggles of many African states and especially the fight against Apartheid in South Africa. During the anti-Apartheid struggle, Nigeria was the only non-Southern African member of the Frontline States, the group of African countries that actively opposed Apartheid. Alongside other members of the group, such as Zambia, Zimbabwe, Tanzania, Mozambique and Angola, Nigeria was crucial in the fight that eventually ended racial segregation and white rule in South Africa.
These collaborations between the culture ministry and artistes should not be forced, but voluntary, leaning on the goodwill and patriotism of the producers. The ministry can however seek ways to incentivise participation.
The country also once had a large and effective Technical Aid Corps, which provided technical assistance to countries in Africa and the Caribbean. The manifest objective of the TAC was to contribute to the socio-economic development of Nigeria’s less endowed development partners by deploying its professionals and experts to share their skills and knowledge. However, the TAC’s subliminal goal is to build goodwill for the country and increase its soft power. The corps still exists, but it has become a shadow of its former self. Through its fight against apartheid and TAC, Nigeria built considerable goodwill and reputation in Africa and beyond. But those days are gone. Because of its own internal contradictions, economic challenges, activities of some unscrupulous citizens, lack of skilled diplomats and a clear foreign policy, Nigeria’s image has taken a beating and is in the mud as the country is often linked with fraud and criminality. The efforts of the government over time to correct this reputational damage have failed. The Olusegun Obasanjo Administration through its minister of information, Frank Nweke, launched the Heart of Africa campaign to change this distressing narrative about the country. So did the Jonathan/Yar-Adua administration through THEWILLNIGERIA
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Dora Akunyili’s Rebrand Nigeria Project. Both projects failed. Yet, there are vast opportunities to repair this reputational deficiency through careful exploitation of Nigeria’s dominance in the arts and culture, especially in music, film and to a lesser degree, fashion. This will entail a lot of work, patience, and long–term vision, as well as the articulation of clear objectives and goals, and working with the leading cultural influencers. The traditional approach is to recommend that the government invests in the creative industries by supporting Nollywood, Afrobeats and fashion through infrastructure, training and funding to enhance quality and global reach. That is good, but not sufficient.
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Other strategies that the ministry can adopt, in collaboration with Nigeria’s foreign service, may include cultural diplomacy, organising and supporting events that promote Nigerian music, movies and cultural festivals across the continent; hosting or supporting high-profile film and music festivals within Nigeria to attract global attention, and marketing Nigeria as a cultural destination, emphasising its music, film, and arts experiences, among others. The strategy is cross-sectoral, requiring the partnership and collaboration of various ministries, especially the foreign service. The Minister of Arts, culture and the Creative Economy, Hannah Musawa, is the best fit to lead the process. If properly handled, we can reap the fruits of our soft power in the form of an improved international image, enduring cultural impact, ease of travel and better economic opportunities for Nigerians overseas. But growing and leveraging soft power is a complex and daunting task, requiring tact, patience, long-term vision, and planning - areas in which Nigeria is lacking.
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Islamic Clerics of Dubious Provenance
bottles of perfume (read eturare, sasarobia) which Abdulrashid Imam concocted for his client. But first, the matter of jinn had to be settled. Common in Arabian tales as spirits which can be summoned to perform certain tasks beyond human comprehension, Dewu had to pay for that. He did. Next were the bottles of perfume he had to purchase: two of them cost Dewu N70, 000 each; a special one went for N160, 000 while yet another to treat his mother’s arthritic leg was sold for N550, 000. Totaling 60 bottles in all, the Islamic cleric assured the supplicant, the perfumes will activate verses from the Quran that will be “implanted into his brain by spiritual means.”
Though not popular and flamboyant as their Christian counterparts, some Islamic clerics in Nigeria can be as mean and manipulative as GOs, pastors, leaders of Pentecostal denominations. There have been cases of paedophiles luring and abusing minors in Islamic schools, disturbing incidents of selling potions, perfumes for personal success in business or some such request by Muslim faithful. THEWILL considers incidents of Imams taking advantage of their Muslim brothers and sisters. Michael Jimoh reports…
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ne of Mohammed Dewu’s life ambition was to learn the Quran by rote from cover to cover, to know it off the cuff like the venerable Mullahs of Qum. He always envied younger students in Arabic school who could recite portions of the holy book straight from the heart. Try as much as he could, he never managed to. Dewu was prone to forgetting passages of the holy book he’d read only hours before with a tendency to nodding off in the process. Like the tireless workhorse Boxer in Orwell’s Animal Farm, Dewu’s retentive memory isn’t much to speak of. Able to recite 1,2,3,4 to 5, Boxer soon forgot it all after advancing from 6 to 10. Dewu had the same dilemma with Orwell’s workaholic,
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With his claws deep into the seeker of knowledge, Abdulrashid Imam upped his game just like any discerning pastor or shaman will: for the prayers to work effectively, Dewu was to provide buckets of honey, two mobile phones with SIM cards that will “enable him to transfer the Quranic verses to his brain at a cost of N900, 000.” In addition was $24, 000 to neutralise forces trying to scuttle an appointment the government had already earmarked for Dewu. In all, the man paid a total of N3m apart from the $24, 000. By the time he realised it was a first class scam by the Muslim teacher, it was too late. He’d been shafted so completely by Abdulrashid Imam that Dewu had no option but report to the EFCC sometime in December 2019, which Wilson Uwujaren as spokesperson at the time, confirmed. The offending Islamic cleric was arrested after Dewu’s petition.
unintelligent beast. So, what to do to retain and recall seamlessly what he’d read days, weeks or even months before? Dewu went on his knees to an Islamic scholar for assistance. No problem, the Imam told him. In sha Allah, he would do something to redress Dewu’s regretful situation. Part of the solution, Mallam Abdulrashid Imam assured him, would be to invoke a jinn to “impart knowledge” of the Quran direct into Dewu’s head. But it would cost the seeker of knowledge a certain amount of money. No problem, Dewu himself responded. He was willing to pay.
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A year before on 22 December 2018, another Islamic cleric Abdulsalam Salaudeen was nabbed for a completely different criminal offence. The accuser was Ikeja Sexual Offences and Domestic Violence Court on behalf of a minor, a case they brought before Justice Abiola Soladoye of a Lagos court in June 2019. Alfa Salaudeen was the resident Imam of Olorunbabe Mosque located on 15, Palace Road Igando, Lagos. In that capacity with his cane handy, Salaudeen schooled his pupils with a severe hand, taught them the way of the scripture.
A respected Islamic teacher and already 43 then, Alfa Salaudeen had a predilection for fondling the backsides of some of his students and even going further
And so began a series of payments for bottles and THEWILLNIGERIA
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...Dubious Provenance the students are going through within the school compound. Those who talked about the harsh conditions in the school were promptly punished to deter others.
Among his wards were a few teenagers, some preteens and a handful of minors as young as seven, six and five. A respected Islamic teacher and already 43 then, Alfa Salaudeen had a predilection for fondling the backsides of some of his students and even going further. It is possible one or two victims complained to their parents about the instructor’s odd behaviour but it was difficult to prove because there was no evidence whatsoever. Unable to confront him one-on-one, they let technology resolve the problem. Unknown to the resident Islamic cleric, a secret camera was mounted within the premises of Olurunbabe Mosque. Needless to say that the man was caught in the act defiling a fiveyear-old under his care.
“If anyone tried to tell their family,” 14-year-old Umar told the Reuters reporter, “they would be hung up from a wall or put in chains.” Umar’s grandfather parceled him off to the Islamic centre for being a truant. Parents are not pleased either about the conditions under which their children live. “I deeply regret taking my child to the rehabilitation centre because I was ignorant of what was actually going on here,” lamented Alhaji Lawal Garka, a parent and native of Daura.
On 25 March 2021, Sahara Reporters published the sad tale of a Nigerian Islamic cleric Ishmaila Salam in faraway Ghana jailed 10 years for defiling a 12-year-old. According to the online publication, Salam was unusually intimately close to the girl in question for which her mother has had cause to warn off Ishmaila. It didn’t stop the cleric and student from having sex in the mosque, Masjid Ali Dawwod Zahriya in Kwahyia in Eastern Ghana starting from 2020 and usually after her studies. The girl’s father Kwame Abu took the Nigerian to court before Justice Effia Addison for defiling her daughter. Ishmaila was sentenced to 10 years in jail with hard labour. For Professor Mahfouz Adedimeji an Islamic scholar and Vice Chancellor of Ahman Pategi University Pategi in Kwara state, people like Abdulrashid Imam, Abdusalam Salaudeen and Ishmaila Salam are not true Islamic clerics. They are impostors and, in his view, it is not entirely surprising that fake people are parading themselves as clerics of the Muslim faith. “It is true but disheartening that fake leaders and pseudo-clerics are posing as scholars of Islam these days,” Adedimeji told Godfrey George of Punch recently. “Anyone with some cheap data on social media can claim what he is not and still gain the following of the confused or ignorant lot. It is one of the signs of the end time foretold by Prophet Muhammad (PBUH). The message of Islam is complete and whoever attempts to bring what doesn’t belong there into it will be rejected. Prophet Muhammad (PBUH) warned that a time would come when nothing would remain of Islam except its name and nothing of the Qur’an except its text, meaning that people would only be paying lip service to Islam without truly understanding or practicing it. This explains why we can still find imposters here and there who tarnish the name of Islam and commit atrocities like duping and exploiting others.” Exploiting others was clearly the case in December 2019 when police busted three Islamic schools in Kaduna and Katsina states “where men and boys were chained to walls, molested and beaten” in a report of abuse by Daniel Mumbere for Reuters. THEWILLNIGERIA
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Islam denounces whatever is inconsistent with its pristine teachings as enshrined in the Qur’an and the hadith of the Prophet Muhammad… there is no controversy about what is right and wrong as the two primary sources of Islamic law lay the terms
One of the buildings, a two-storey house, had a sign on it: “House of Imam Ahmad Bin Hanbal for the Application of Islamic Teachings.” While recitations of the Quran may have been part of the school’s curriculum, students were also subjected to serial abuse. They lived in unhygienic conditions, starved and exploited like galley slaves. The Reuters report showed that parents and guardians of some of the students personally handed them over to the proprietors for proper education in the Quran. Some paid tuition. But once the proprietors take custody of the children, it becomes a different ball game entirely. For starters, parents are denied access and visiting rights to their children for three months and sometimes more thus effectively cutting them off from what
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Because of the inhuman treatment meted to them by the proprietors, then President Muhammadu Buhari instructed the police to disband such schools in northern Nigeria. “The government cannot allow centres where people, male and female, are maltreated in the name of religion,” the presidential order declared at the time. Among the inmates/ students were mostly Nigerians, Nigeriens, Malians, Chadians and Burkinabes forming a great part of the Muslim belt of the West African sub region. Two Islamic teachers Hassan Bilyaminu and Abdullahi Bilyaminu didn’t have such cast of international students under their care at Islamiyya School in Minna Niger state when allegations of abuse made the headlines in 2020. The pupils were all Nigerians, from ages twelve down to five, four, male and female. In the course of instructing the students, Hassan and Abdullahi took liberties with the minors. Based on allegations by Lawal Idris of Tudun Nasira in Maitumbi area of Minna, the two “lured four of the girls whose ages ranges between 6 and 11 years old pupils of your Islamiyya, into your house and used your finger to rub and inserted it into the minors’ vagina one after the other.” Both admitted committing the crime during investigation. In sentencing them Chief Magistrate Hajiya Hauwa Baba Yusuf described their act as “grossly indecent and an assault that will leave a permanent and gruesome memory in the mind of these little girls. One wonders what people like the convicts derived from assaulting and defiling little girls. This has gone berserk, there must be more to this pandemic of sexual assault on little children. For the society to be able to curtail this ugly trend, the full wrath of the law must be brought on the convicts.” The judge sentenced both to 15 years separately. In condemning these acts by so-called Islamic clerics, Prof Adedimeji made it clear that “Islam denounces whatever is inconsistent with its pristine teachings as enshrined in the Qur’an and the hadith of the Prophet Muhammad…there is no controversy about what is right and wrong as the two primary sources of Islamic law lay the terms. No one can hide behind a finger to justify misdeeds because the evidence is clear.” PAGE 45
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SPORTSLIVE
Super Eagles
Sweat, Tears, Death: Nigeria's Quest For 4th AFCON Title BY JUDE OBAFEMI
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he drums of anticipation thunder across Nigeria, a rhythm fuelled by the unyielding determination of our beloved Super Eagles. Having weathered a turbulent group stage and navigated treacherous knockout battles, the team stands poised on the precipice of glory, one final hurdle away from etching their own names in the annals of footballing history at home and across the continent.
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The road to the final has been arduous, a testament to the team's mental fortitude and adaptability
Nwabili
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The AFCON trophy, a symbol of continental dominance, beckons, and the Super Eagles are ready to answer the call. Still, the journey is not just about a trophy; it is also about reaffirming Nigeria's position as a footballing powerhouse, a beacon of hope for a country yearning for continental glory, seeking an outlet for compressed emotions, a reason to forget prevailing economic woes and a cause to banter against rival African football fans. The journey of the Super Eagles to Sunday's final began with a stutter, a frustrating 1-1 draw against Equatorial Guinea. Missed chances hung heavy in the air, a stark reminder of the work that lay ahead. Yet, within this initial setback, the seeds of resilience were sown and the bedrock of the team was identified: a rock solid backline marshalled by team captain William Paul TroostEkong. Another feature that was obvious was the unwavering belief the team exuded, instilled in what the players had built as a spirit of
collective responsibility. This newfound unity shone brightly in their next encounter, a hard-fought 1-0 victory over hosts Ivory Coast. The win resonated not just for its three points, but for the message it sent – Nigeria were here to compete, and they would not be distracted by early criticisms and the concerns of football analysts that were comparing results in Group A with the performances of title contenders elsewhere. Nigeria's group stage concluded with another narrow 1-0 victory over Guinea-Bissau, solidifying their position at the top of the table. Yet, the real test awaited in the knockout stages, as the upsets that have marked this year's AFCON began to ruffle feathers. Cameroon, a perennial powerhouse, fell victim to Ademola Lookman's clinical finishing, his brace sending the Super Eagles into the quarter-finals. By this time, Nigeria had become favourites after each of the top five FIFA-ranked teams on the continent had been sent home in shame. Angola, another obstacle, was overcome with a solitary goal, further solidifying Nigeria's defensive qualities and contention for the title. Then came the defining moment – a penalty shootout against South Africa after 120 minutes of football that resulted in a 1-1 draw. The tension was palpable, the air thick with anticipation especially after the South Africa goalkeeper Ronwen Williams had shown his dexterity stopping spot kicks when South Africa dispatched Cape Verde in the quarter-finals. However, amidst the pressure, Nigerian goalkeeper Stanley Nwabali emerged as the hero, his outstretched arms denying two South African attempts. The entire country, on the edge of their seats after the game went to penalties, erupted, a cacophony of joy celebrating the Super Eagles' hard-earned victory and their passage to the final.
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...Nigeria's Quest For 4th AFCON Title Their determination is fueled by a rich footballing heritage. Three AFCON titles adorn their trophy cabinet, each a testament to the talent and tenacity that have defined Nigerian football for decades. Legends like Kanu Nwankwo, Jay-Jay Okocha, and Rashidi Yekini still inspire, their achievements serving as a constant reminder of what this team is capable of. Okocha and Kanu have physically interacted with the current squad, boosting their morale by their presence and inspiration. Still, this generation of Super Eagles carries its own unique story. They are young, hungry, and brimming with potential.
Nwabali removed the fear that fans have had about the goalkeeping position previously manned by the inconsistent Francis Uzoho. The goalkeeper’s career began in the domestic league in Nigeria before he became the starting option for South Africa's Chippa United. This journey has been one of perseverance and skill. Starting with Go Round FC in Nigeria's second division, he impressed first as a striker before opting for the goalkeeper position. Having been scouted by Enyimba, he transferred to the People's Elephant with whom he won the Nigerian Professional Football League. Subsequent stints with Wikki Tourists and Lobi Stars further added to his experience before he made the leap to Chippa United. Since joining,
Now, with Nwabali's excellent goalkeeping, Nigeria stands face-to-face with Ivory Coast once more, a rematch with the hosts seeking revenge on home soil. This final will be a battle of wills, a clash of West African titans. Ivory Coast, buoyed by home advantage and their own desire for continental glory, will be a formidable opponent. Yet, the Super Eagles, fueled by their unwavering spirit and a 10-year thirst for the AFCON crown, will not be easily deterred.
absence of midfield generalissimo Leicester's Wilfred Ndidi, represent the future of Nigerian football. Their performances in this tournament have been nothing short of remarkable, showcasing their individual brilliance while seamlessly integrating into Peseiro's vision. The road to the final has
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Nwabali’s place as the team's firstchoice goalkeeper, with his stellar performances, brought him to the attention of the national team and earned him an invitation. While Nigerians were unsure of his choice as first choice keeper, he has since more than repaid the confidence reposed in him between the sticks for Nigeria. His Man-of-the-Match performance against Bafana Bafana was further testament of this. So far, no other keeper has kept the ball out of the net more than Nwabali. Four clean sheets and having only conceded twice in regulation time in six matches, his emergence at the choice for AFCON has been one of Jose Peseiro’s best ever decisions.
Players like Victor Osimhen, the Napoli forward with an eye for goal, and Calvin Bassey, the Fulham wall of a defender known for his tireless work ethic, Ola Aina, the Nottingham Forest defender that is keeping his shirt with determination, and Brentford's Frank Onyeka, who has helped the team not miss the injury-enforced
Continued from Back Page
In Government And in Labour, Nigerians do Not Trust aged to also revitalise unions. Re-establishing public faith in political and labour leaders requires them to sincerely prioritise citizen welfare above self-interest. The government must walk the talk of austerity and shared sacrifice when making policies. Labour must clean house - removing entrenched interests who have sold out workers before - and truly stand up uncompromisingly for the rights of the common Nigerian. To pull the country from the brink, the government and Labour leaders must transform to once again mirror the virtues and aspirations of ordinary Nigerians long betrayed but now increasingly impatient in their demands for leaders with empathy, integrity and genuine commitment to national rebirth. As political tensions escalate, the government should lead by example - reducing extravagance amongst officials and emphasising transparency in public expenditure to fund economic relief measures. Similarly, labour unions must reconnect through extensive grassroots THEWILLNIGERIA
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engagement to understand worker priorities and rebuild internal trust and cohesion. Re-establishing faith requires having the courage to implement reforms. The government can audit public contracts and curb graft by enforcing existing transparency laws while also increasing spending oversight by independent bodies. For labour, independent financial audits and mandatory declarations of union expenditures and leader assets can counter allegations of self-enrichment and compromise. Through sincere initiatives and leading by example, the government and labour unions can bridge today’s yawning trust deficit. Officials must empathise with citizens suffering economic hardship while unions must reconnect with workers and defend their rights uncompromisingly. Only by walking the talk of integrity, transparency and selfless service can Nigeria’s leaders across the political and labour spectrum re-establish faith with her long suffering but resilient people.
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been arduous, a testament to the team's mental fortitude and adaptability. They have overcome setbacks, embraced challenges, and grown stronger with each passing game. This journey has not been without its critics, but the Super Eagles have responded with unwavering dedication and a quiet confidence that has resonated with their passionate fanbase. The nation stands united behind them, as evidenced by in-person support at the stadium by Peter Obi and Vice President Kashim Shettima with vociferous Supporting Club, their voices echoing across the continent, urging their team on to victory. On a sad note, there have been some deaths linked with the very nerve-wracking semi-finals against South Africa. On Friday, the Super Eagles mourned the shocking deaths of passionate supporters who passed away Wednesday night watching that game. No fewer than five fans tragically died from the tension and excitement during the match. Among the deceased are Cairo Ojougboh, a former presidential advisor, Mikail Osundiji, businessman Chief Osondu, university bursar Alhaji Ayuba Abdullahi and National Youth Corps member Peter Yunana. Ojougboh was a former member of the House of Representatives representing the Ika Federal Constituency of Delta State and reportedly died while watching the semifinal match. Osundiji was a sales representative working with Nestle Plc and reportedly slumped and died while watching the match in Abeokuta, the Ogun State capital. Chief Nwoye was an Anambra Stateborn businessman, a resident in Abidjan. He reportedly collapsed inside the stadium and later died in a hospital. Alhaji Abdullahi was the Deputy Bursar of Kwara State University, Malete. He also slumped and died following a heavy shock after the referee nullified Nigeria's second goal against South Africa. The story was similar in Yunana's case as the Youth Corps member serving in Adamawa State slumped during the match and was never revived. Ex-team captain Ahmed Musa said the losses should now inspire the squad to emerge victorious in Sunday's final clash with Ivory Coast. In an emotional video, Musa led his teammates in a minute's silence for the fans. Chidozie Awaziem then said a prayer for the grieving families. The Super Eagles also paid online tribute to the supporters who died in a "cruel twist of fate" while immersed in the football game they loved. The team has pledged to lift the AFCON trophy on behalf of these passionate, unity-inspiring followers. The shocking events serve as a reminder of football's immense cultural power to enthral fans - albeit with heartbreaking consequences in this case. The spectators who sadly passed away will be remembered for their infectious devotion to the Super Eagles' AFCON 2024 quest. Sunday's final promises to be an intensely emotional affair. It shows that the final is more than just a football match; it is a symbol of national pride, a chance to rewrite history, and to reclaim Nigeria's rightful place as a footballing powerhouse. The Super Eagles carry the dreams of millions on their backs, and they are determined to deliver. The pressure will be immense, but for these warriors in green and white, the reward is worth every drop of sweat and every ounce of determination. As the final whistle blows on the AFCON tournament, the world, which has closely followed this tournament more than ever before, will witness the culmination of this remarkable journey. The Super Eagles have already etched their names in the hearts of millions and one more win will finalise this. They have embodied the spirit of resilience, unity, and unwavering belief, and that, in itself, is a victory worth celebrating.
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In Government And in Labour, Nigerians do Not Trust
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igeria stares at another possible industrial action soon as its major labour unions have threatened nationwide strikes across critical sectors to protest the Federal Government’s failure to honour agreements meant to alleviate the dire economic realities facing average citizens. This current impasse will bring to the fore once again the deep mistrust and disillusionment ordinary Nigerians have long harboured towards the political elite, as well as the labour establishments that are meant to represent them. Decades of corrupt governance and tone-deaf policies have estranged the average Nigerian from the ruling class. Successive governments have presided over a progressively declining standard of living as inflation erodes purchasing power and economic mismanagement fuels joblessness. The National Bureau of Statistics’ latest figures paint a sobering picture with indices of food inflation, unemployment and youth unemployment hitting staggering levels. Experts have criticised the government’s poor fiscal policies as responsible for the poor state of things. However, despite preaching shared sacrifice, the political elite have carried on with scandalously opulent lifestyles, indifferent to the deepening misery around them. Outrageous government expenditures – from luxury SUV purchases to extravagant foreign travels for extended entourages have been the order of the day, while the immiseration of civil servants worsen. Several state governors and legislators have squandered public funds on vanity projects rather than tackling issues, such as the crippling education sector and rising unemployment across the country. This callous disconnect between the ruling class and average Nigerians struggling with rising poverty has severely damaged public trust. The Labour unions, which should be the voice of the working class, have similarly disappointed. Though established to represent the rights of the common Nigerian, prominent unions have been accused of betraying the trust of their members by allegedly entering backdoor deals, accepting bribes from government officials to compromise the struggle without achieving any long-term gains for workers. In the past, there have been examples of widespread criticism when the Nigeria Labour Con-
gress suspended national strike actions after the government agreed to set up a committee, despite no concrete progress on the key issues, such as minimum wage implementation and fuel subsidies that were not benefiting the common man. Such events have reinforced percep-
tions that certain labour leaders compromise integrity for personal gains, further eroding faith in the sincerity of unions to fight selflessly for ordinary Nigerians burdened by economic hardship. This pervasive sense of distrust and disconnect from the leadership class, both in politics and labour, has profoundly dangerous implications for Nigeria’s stability. The country risks significant economic losses and social upheaval if the threatened strikes make an already bad prevailing situation, even more dire.
More critically, the breakdown in trust risks disenfranchising citizens further and embedding animosity between the elite and average Nigerians. This resentment stems from a perception that political and labour leaders do not experience the same hardships they impose on the public through policies and strikes, nor do they prioritise citizen welfare over parochial interests. Rebuilding public trust is crucial to steering Nigeria away from the brink of conflict. The government needs to hearken to the yearnings of the people and demonstrate genuine empathy with the people’s suffering after years of adopting seemingly uncaring policies. Political leaders must connect directly with citizens and initiate people-focused programmes and schemes that can provide sustained alleviation of the suffering of the many. By directly addressing issues mostly affecting them – be it food costs, job creation, social security nets, a rapport of trust can begin to grow. Furthermore, the pervasive culture of corruption that enables gross mismanagement must end. Government expenditures should be streamlined – projects and travel unessential for public welfare should be scrapped. Anticorruption drives must improve accountability in public procurement and contracting, with any savings channelled towards long-neglected sectors like public education, healthcare and housing to benefit of citizens directly. Similarly, Labour unions need internal reform to become truly representative. Independent financial and electoral audits can improve transparency around union activities, while mandatory public disclosures of finances can assure members that leadership acts solely for their welfare. Codes of ethics and conflict of interest declarations can increase accountability around negotiations. Additionally, unions must reconnect with workers frequently through town halls, workplace visits and mobile apps. This improves understanding of emerging labour issues, helps unions craft relevant demands rather than vague calls for strike, while also building worker participation in unions beyond dues collection. Younger, more dynamic leaders from non-traditional backgrounds should be encourContinues on Page 47
To pull the country from the brink, the government and Labour leaders must transform to once again mirror the virtues and aspirations of ordinary Nigerians long betrayed, but now increasingly impatient in their demands for leaders with empathy, integrity and genuine commitment to national rebirth PAGE 48
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